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Expensify S-1

sec.gov

71–80 of 123 posts

Re: Expensify S-1

#71

Earlier quoted context omitted.

wrong POV. for each individual user, the increased aggravation is tolerable. For the corporate controller, at megacorps you [apparently] need to use concur and the like. at the level of megacorp, financials must be correctly stated, auditable, and so forth. kind of like security. why can't you just _trust_ your users to set a strong password and have a screen saver iff they are in an environment where it's helpful? i…

we use Concur (1500+ employees). not my cup of tea but the accounting people love it.

Concur is painful to set-up but once it's done, it's not too bad

Re: Expensify S-1

#72
post #33
post #25

I singlehandledly forced the replacement of Expensify at my company after some dodgy billing practices. They incrementally, yet substantially, raised our bill over a period of eight months with no notification to us whatsover. It was hard to detect because our bills were already variable values per month (based on active users). When I discovered the higher rates we were paying I reached out to support and they said…

It'd be nice to hear their version of this before I bother to get my butt off the couch and pick my pitchfork. The fact that fee increases weren't communicated because the OP was't subed to promo emails just doesn't smell right. As is the fact that it wasn't obvious from the actual billing statements. Ps. I remember their CEO (David Barrett) back from the p2p-hackers mailing list days. He ain't one of them Zuckerberg…

David's a hardcore coder and a talented technologist, for sure, but... well, he believes whatever he believes at the moment very strongly. He has a very solid reality-distortion field.

As an example, he really believed it was fine to have mechanical turk freelancers see people's receipts. He would say something to the effect of "people throw their receipts in the garbage where any sanitation worker can see them - this no different." I wasn't around when the mechanical turk stuff made the news, but it seems like it caught him totally off guard that people would be upset.

I suspect that the conversation around the price increases went something like:

David: There, I just sent a 3-page-long plaintext email explaining our price updates to everyone. Other Expensifier: Shouldn't we notify people who have opted out of those emails? David: If they opted out of announcement emails, they don't want announcment emails. Seems straightforward to me. Other Expensifier: Yeah, but, like, we don't have multiple opt-out channels. They can either get every multi-page plaintext missive you send, or they can opt out and miss significant price increases. David: Nope. They made their choice, we should respect it. Multiple opt-out channels are an antipattern. Anyway, the number of users who will be upset about this are vanishingly small - let's worry about the rest.

Re: Expensify S-1

#73
post #11
post #6

Expensify’s CEO sent a letter to every single person Expensify had an email for, even simple ground floor employees who just use the software to submit expenses an email prior to the 2020 presidential election. The CEO sent a long diatribe about how the election of Donald Trump would be the end of democracy as we know it, and it is imperative that Joe Biden is elected. I will never give this company a single cent aft…

On the contrary this is exactly what I want to see from executives regardless of their political leanings. If they believe that something is a clear and direct threat to the business that they’re charged with running, they should have a fiduciary duty to speak up on it in whatever means they have available. Following that those receiving the message can decide to continue to support the business or not. But I’d rathe…

> Following that those receiving the message can decide to continue to support the business or not.

Actually, they could not - this is the crux of the issue. They didn't just send emails to their customers, but to their customer's employees. As an employee, I do not get to pick whether I use Expensify or not. My employer does.

Imagine your company decides to use MS services for email (e.g. Outlook Exchange). Is it OK for you to have to receive Satya's views on politics and not have a choice not to receive them (other than quitting your job)?

Re: Expensify S-1

#74

Having to fill in many forms this morning, I was just marveling at how unnecessarily painful data entry is with Expensify. If I want to select the current autocomplete for the vendor, do I press Enter? Nope, that saves the whole expense and exits back to the list. If I want to autocomplete other fields, do I press enter? Yes, that works! What's the difference? Who knows? Who cares? Clearly not anybody on the web dev…

I've worked in web development space as a QA, and verifying that web forms are 508 compliant is a big deal if you want to sell anything to the government. Do they just never expect to get any Federal contracts and sell exclusively to private companies, or what?

Re: Expensify S-1

#76
post #41
post #25

I singlehandledly forced the replacement of Expensify at my company after some dodgy billing practices. They incrementally, yet substantially, raised our bill over a period of eight months with no notification to us whatsover. It was hard to detect because our bills were already variable values per month (based on active users). When I discovered the higher rates we were paying I reached out to support and they said…

Not to mention their shady and undisclosed practices of using humans to read receipts when they pretend it's AI / OCR / NLP doing that. "Expensify has admitted that its declared AI product SmartScan, which is assumed to scan the expense receipts and categorize the details into corresponding expense pool through a machine process, was actually assisted by humans. Breaching privacy of users, the receipts were posted on…

Ah so _that's_ why it was so good.

So often I find these 'AI' systems are just smoke and mirrors. You have a great system, nobody is interested. Sprinkle on some 'ai' magic beans, and people are now throwing money at you.

Re: Expensify S-1

#77

Earlier quoted context omitted.

Considering Trump supporters at the Capitol tried and failed to end democracy on Jan 6th, was it a really a stunt or was he 100% correct in his assessment?

They were actually protesting what they thought was a stolen election, ie, the "end of democracy". See how we're all on the same side rhetorically? We all want democracy.

Original comment: CEO was bad because he emailed people saying Trump wanted to destroy democracy. Reply 1: And he did try to destroy democracy when he lost. Reply 2: Well, the people he incited didn't realize they were destroying democracy.

I think this is what they call missing the forest through the trees.

Re: Expensify S-1

#78
post #36
post #6

Expensify’s CEO sent a letter to every single person Expensify had an email for, even simple ground floor employees who just use the software to submit expenses an email prior to the 2020 presidential election. The CEO sent a long diatribe about how the election of Donald Trump would be the end of democracy as we know it, and it is imperative that Joe Biden is elected. I will never give this company a single cent aft…

Why? Is it because you disagree with the political leanings of the CEO? Is it because you don't think that corporations should express political biases? If so, do you maintain a list of companies that you won't do business with based on corporate donations? Is it because you disagree with a founder or CEO using the platform that their company provides them to amplify their voice? Your comment is a condemnation of the…

> Your comment is a condemnation of the action of the CEO without any specific concern raised about the action taken, and leaves one to conclude that you are a Trump supporter.

This is a good example of "I cannot understand why you do X, therefore I'm sure the reason is Y."

Re: Expensify S-1

#79
post #7
post #6

Expensify’s CEO sent a letter to every single person Expensify had an email for, even simple ground floor employees who just use the software to submit expenses an email prior to the 2020 presidential election. The CEO sent a long diatribe about how the election of Donald Trump would be the end of democracy as we know it, and it is imperative that Joe Biden is elected. I will never give this company a single cent aft…

I feel like HN users reflexively downvoted this comment but it does have merit. Personally, I'm no supporter or Trump or his right-wing viewpoints but even I felt slightly uncomfortable with the CEO's decision to send such an email.

Seems more honest than quietly donating to PACs.

Re: Expensify S-1

#80
post #41
post #25

I singlehandledly forced the replacement of Expensify at my company after some dodgy billing practices. They incrementally, yet substantially, raised our bill over a period of eight months with no notification to us whatsover. It was hard to detect because our bills were already variable values per month (based on active users). When I discovered the higher rates we were paying I reached out to support and they said…

Not to mention their shady and undisclosed practices of using humans to read receipts when they pretend it's AI / OCR / NLP doing that. "Expensify has admitted that its declared AI product SmartScan, which is assumed to scan the expense receipts and categorize the details into corresponding expense pool through a machine process, was actually assisted by humans. Breaching privacy of users, the receipts were posted on…

There were some horror stories in YC about staff running certain receipts thru expensify, leading to bank or bitcoin accounts being penetrated and stolen.

I have to concur - i've had the ability to steer companies away from their product.

Expensify was OK before all the OCR stuff and shady billing.

Now with the S1 filing, whatever good designers and engineering talent they had will bail, and the company will be a hollow carcass of its former self. Avoid.

NOTE: the shady billing practices are traditionally the precursor to an S1 filing. Usually, a company going public has earnout/incentives, so they will do whatever it takes to increase revenue preIPO, even if that directly impairs the company's long term future.

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