In the latest episode of Curve Ahead, I had the opportunity to speak with Aeron Sullivan, co-founder and CEO of Pangea Technologies. Our conversation revealed fascinating insights into the challenges and innovations in international finance, particularly for organizations operating in emerging markets. Aeron’s journey from the Marines to nonprofit work to founding a fintech company offers valuable lessons for entrepreneurs navigating complex industries.
From Problem to Solution: The Birth of Pangea
Like many successful entrepreneurs, Aeron identified a gap in the market through his own frustrations. While working at a nonprofit called Bible Project, he faced challenges with paying contractors in local currencies around the world. As he searched for solutions to manage foreign currency exchanges efficiently, he discovered that existing options were disappointingly unsophisticated.
“I ultimately went out to market for Bible Project to find a solution to that foreign currency related challenges and was pretty woefully disappointed with the sophistication of the technology and the offerings out there. And so ultimately started Pangea to solve my own problem.”
This origin story highlights a fundamental principle that applies to all entrepreneurs, including podcast producers: the best business ideas often arise from encountering a problem firsthand and recognizing that you can build a better solution.
Disrupting Legacy Systems with Modern Technology
What makes Pangea’s approach particularly interesting is how they’re tackling an industry that hasn’t fundamentally changed since the 1800s. As Aeron explained:
“When you had to move money somewhere internationally, you had to use a bank that you had a local relationship with. And they would move money to another bank that they had some sort of agreement with in that other country… That is still, surprisingly enough, basically how the entire foreign currency industry works worldwide.”
Rather than simply improving upon this outdated model, Pangea is rebuilding the infrastructure from the ground up using a marketplace approach. They connect clients directly with the most appropriate financial institutions in each region, eliminating unnecessary middlemen and reducing costs significantly.
This strategy of completely reimagining an industry rather than incrementally improving it offers a valuable lesson for content creators: sometimes the most impactful innovation comes not from doing things slightly better, but from questioning fundamental assumptions about how things should work.
The Marketplace Challenge: Solving the Chicken-or-Egg Problem
Building a two-sided marketplace presents unique challenges. As Aeron described:
“Marketplaces have that classic problem of the chicken or the egg. Do you get supply first and then demand, or do you get demand first and then supply?”
Pangea addressed this challenge by taking a methodical approach, slowly building relationships with both clients and financial partners:
“As we acquire client base, they’ve got demand in a particular corridor sector and we go and we find partners that fill that sector… We’ve had to build that supply and demand back and forth, slowly and strategically.”
For podcast producers and content creators, this insight applies to building audiences and partnerships. Rather than trying to grow everything simultaneously, focus on serving a specific niche exceptionally well, then expand methodically based on the needs and opportunities that emerge.
Managing Growth Responsibly: The Boulder Analogy
When asked about Pangea’s biggest current challenge, Aeron offered a compelling analogy:
“I like to think of like growing an organization as a bit like rolling a boulder up a hill. You need enough momentum so that the boulder doesn’t stop and then roll back and crush you. But you also can’t get too much momentum where you actually let it go and it rolls up too far and it comes back and crushes you.”
This balance between growing fast enough to maintain momentum but not so fast that you lose control is something every entrepreneur grapples with. Aeron emphasized the importance of “steady, healthy, responsible growth, but still ambitious and aggressive growth,” noting the dangers of the “growth at any cost” mentality that led to problems for many venture-backed startups in recent years.
For podcast producers, this translates to expanding your content portfolio, client base, or team at a pace that’s sustainable. Rapid growth without the proper infrastructure, processes, or resources can lead to diminished quality and burnout.
Finding Product-Market Fit Before Scaling
One of the most valuable insights from our conversation came when Aeron discussed his approach to growth and investment:
“Companies that can find product market fit, even with just a small number of clients early and you find clients that are really, really loyal…the growth will come naturally and just adding money to it will make it accelerate it, but you should be able to do it without money. Money should be a shortcut to time, not to actually product market fit.”
He also emphasized the importance of working closely with early clients to refine your offering:
“Not having a customer base that’s so big, you can’t manually sort of solve the problems that will naturally arise… By the time you actually do get to that large number, you’ve kind of worked out the kinks.”
This approach of starting small, establishing strong relationships with early adopters, and iteratively improving your product based on their feedback is essential for building a sustainable business in any industry.
The Value of Rebuilding for Scalability
Aeron shared how his team recently spent nine months completely refactoring their core technology:
“We went from 100,000 lines of code spread across 50 files to 5,000 lines of code spread across eight files. And they do the same thing… If I added a hundred clients in a month last month, I’d be pretty worried. If I did now, I’m not worried because I understand how the system operates.”
This willingness to invest significant time and resources into rebuilding foundational elements of their business demonstrates the importance of periodically stepping back to address technical debt and structural issues before they hinder growth.
For podcast producers, this might mean revisiting your production workflow, content strategy, or client onboarding process to ensure they can scale efficiently as your business grows.
Key Takeaways for Content Entrepreneurs
Aeron’s experiences building Pangea offer several valuable lessons for podcast producers and content creators:
- Solve genuine problems: The best business opportunities often come from addressing real challenges you’ve experienced firsthand.
- Question industry assumptions: Don’t just improve upon existing models—consider whether fundamental aspects of your industry could be reimagined.
- Build relationships before scale: Focus on serving a small group of clients exceptionally well before attempting rapid expansion.
- Balance ambition with responsibility: Pursue growth aggressively but sustainably, recognizing that both stagnation and unchecked expansion carry risks.
- Invest in infrastructure: Sometimes taking a step back to rebuild foundational elements is necessary for long-term success.
Conclusion
The journey of building Pangea illustrates the challenges and opportunities that come with disrupting established industries. By identifying a genuine need, questioning conventional approaches, and methodically building relationships on both sides of their marketplace, Aeron and his team have positioned themselves to transform how international finance works.
For podcast producers and content creators, these same principles can guide your approach to innovation, growth, and sustainability. Whether you’re just starting out or looking to scale an established business, focusing on solving real problems for a loyal customer base is the foundation for lasting success.
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