E59: Why AI Tax Tools Fail the QSBS Test, with Nick Abouzeid of Rivet

In this episode, Sasha Orloff talks with Nick Abouzeid, Co-founder and CEO of Rivet, about raising venture capital from XYZ, Haystack, and other angels to build a modern tax and accounting firm that serves 600+ category-defining companies like Cursor by combining world-class tax practitioners with custom-built software infrastructure, delivering premium responsive service while challenging the traditional accounting firm model of unresponsive service and outdated technology.

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SPONSORS:

Notion

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Puzzle

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RECOMMENDED IN THIS EPISODE:

https://www.rivet.tax

https://www.linkedin.com/in/nickabouzeid/

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X/SOCIAL:

@nickabouzeid (Nick)

@sashaorloff (Sasha)

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TIMESTAMPS:

(00:00) Preview

(00:36) Intro

(01:21) Meet Nick Abouzeid, CEO of Rivet

(01:57) Rivet unique approach to tax services

(02:52) Challenges in the tax preparation market

(06:59) Human element in AI-powered tax services

(09:33) Journey to venture capital

(14:29) Sponsors: Notion | Puzzle

(15:54) Scaling and surprises in building Rivet

(18:23) Open roles and team dynamics

(19:00) Feedback and roadmap development

(19:24) International hiring and cost efficiency

(20:40) Data integration challenges

(21:23) Future of AI in accounting

(22:58) Complexity in tax code and software

(23:30) Human expertise vs. AI

(32:23) Pricing models in tax preparation

(34:26) Client success stories

(36:29) Looking forward: New hires and future plans

(37:16) Wrap