Risk, Reward, and Revolution: Financing The Clean Future of Flight with ZeroAvia's Georgy Egorov

Run the Numbers

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Risk, Reward, and Revolution: Financing The Clean Future of Flight with ZeroAvia's Georgy Egorov

CJ Gustafson

Nov 18, 2024

Transcript

In this episode, CJ interviews Georgy Egorov, CFO of ZeroAvia, who shares his journey from pioneering AI drug discovery to co-inventing a Covid vaccine, and now leading the charge toward zero-emission aviation with hydrogen-powered airplanes. They talk about the complexities of getting funding for a climate tech company and the need for these products to outperform traditional options without relying on green labels. Then Georgy explains the importance of risk management in this industry and some of the many factors he has to consider. With roots in investment banking, he discusses how this experience has helped him become a better CFO and provides advice for identifying the right career opportunities. Tune in for a conversation with a forward-thinking CFO driving innovation in one of the world’s most ambitious startups.

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Operators Guild is where the best CEOs, CFOs, VPs of finance, and BizOps leaders in the business connect, network, and grow together. Built by operators for operators, this members-only community is home to more than 1000 of the most elite high-growth operators in the world. Experience connection and knowledge share with professionals who understand you like no one else does. Learn more and apply at operators-guild.com.

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@cjgustafson222 (CJ)

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TIMESTAMPS:

(00:00) Preview and Intro

(02:04) Sponsor – Leapfin | Mercury

(04:02) Hydrogen Planes and What ZeroAvia Does

(07:33) The Challenges of Getting Funding as a Climate Tech Company

(10:39) Monetizing Software or Smaller Components to Grow Revenue

(13:29) Climate Tech Products: Climate Benefits Versus Inherent Quality

(16:07) Sponsor – NetSuite | Operators Guild | Maxio

(20:21) Greenwashing

(20:56) Explaining Capital Outlay to Investors

(21:57) Derisking the Business

(24:49) Taking On Risk Without Slowing the Business Down

(25:32) Execution Risk Versus Market Risk

(30:08) Balancing Investor Expectations and Managing Risk

(30:41) Climate Tech Investors and the ESG Bubble

(33:11) Georgy’s Criteria for Choosing Employers

(38:00) How Investment Banking Prepared Georgy to Be a CFO

(40:48) The Personal Account Perspective for Identifying Opportunities

(42:37) Traveling as an Investment Banker

(44:59) Stories from Georgy’s Investment Banking Days

(48:39) Long-Ass Lightning Round: Advice About Preparation

(50:41) Finance Software Stack

(51:17) Craziest Expense Story

Discussion about this podcast

Run the Numbers

Run the Numbers is a twice-weekly podcast about financial metrics and business models, designed for ambitious people operating tech startups. It's a collection of things host CJ Gustafson (CFO at Partstech and writer of Mostly Metrics) has learned and thought about in the trenches as a tech CFO.

This show is meant to serve as a playbook of sorts for the stuff CJ wishes he knew earlier in his career, both from experience and from copying people smarter than himself.

Topics frequently touch upon Startup SaaS Metrics, Annual Budgeting, Financial Forecasting, Headcount, Equity, Dilution, and Fundraising – and how all of these drive business performance and growth.

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