JASON

Building something new | BBQ lover | Investor

[JASON @jasoncliao]

I've recently been heads-down on something I couldn't talk about. Today I can:

I left a $9B company to help build @ellis - the system of record for private credit. A $2 trillion industry that still runs on spreadsheets.

Why I made the jump, tomorrow. Today it's Ryan's 👇

[Ryan Williams @RyanAWms]

At @Cadre, I saw the gap firsthand. Large “institutional” firms built their own systems. But everyone else had to deliver with fewer resources, spreadsheets and manual work.

https://t.co/W1bgjOIVG3

“Institutional” should describe a standard, not a budget.

That conviction became @ellis_company

@JeffKauflin, @Forbes Ryan Williams’ Next Act After Cadre: A Fintech Fix For Private Credit’s Data Mess

[JASON @jasoncliao]

Full article is here https://t.co/GHiLE4V8Dg

[JASON @jasoncliao]

Everyone in software right now is racing to make AI do more on its own.

We built @ellis_company to do less - on purpose.

Here's why, in an industry where "fast" and "wrong" are the same disaster. 🧵

[JASON @jasoncliao]

I wrote up why we drew the line there - and what human-in-the-loop actually looks like in the product.

Full piece below 👇

[JASON @jasoncliao]

I wrote up what 25 funds taught us - full piece here:
https://t.co/K2e4eVxUGs

[JASON @jasoncliao]

I asked 25 private credit funds one question: what breaks most often?

I expected "the admin is too slow" or "Excel is a mess." Both true. But the real answer was something most people outside the industry have never heard of. 🧵

[JASON @jasoncliao]

The most sophisticated capital in the world runs on two sets of books that don't agree. We're building the ones that finally will.

[JASON @jasoncliao]

Full essay: https://t.co/BTV8MxxREe

If you work in or around private credit, tell me where I'm right and where I'm wrong. Subscribe and you'll get the next one - what dozens of fund managers told me breaks most often.

[JASON @jasoncliao]

I spent 5+ years helping build Wonder from stealth to a $9 billion valuation.Then I left to start over at zero.

No lightning-bolt moment. The real reason is quieter - and it's about an industry most people have never heard of. 🧵

[JASON @jasoncliao]

That gap is why I teamed up with @RyanAWms to build @ellis_company: the system of record this industry never had.

I wrote the whole story - why I left, what private credit is, and why it matters more than almost anyone realizes.

Full essay below 👇