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Founder life differs from banking

Andrew Meng, a 29-year-old former Wells Fargo investment banker, has transitioned from high-pressure banking to founding Yorby AI, an artificial intelligence content strategy firm. Although his weekly working hours remain similarly grueling in both roles, Meng describes the psychological experience of the work as fundamentally different. After graduating in 2019, Meng joined Wells Fargo's technology, media, and telecommunications group in San Francisco. During his tenure, he worked between 60 and 100 hours per week, with intense spikes during live deals such as initial public offerings or mergers. The unpredictability of the schedule meant weekends and plans could be canceled at a moment's notice by last-minute emails. While the firm offered legitimate paid time off, internal pressure to stay connected remained high. Meng noted a total erosion of boundaries between work and life, particularly during the pandemic. A pivotal moment occurred in the summer of 2020 after closing a major IPO; despite the achievement, he felt no sense of pride, realizing the traditional trade-off of banking was no longer providing personal fulfillment. After six months of deliberation, Meng left banking in January 2021. He initially moved into content creation, living with his parents to save money on living expenses. However, by late 2022, with his savings dwindling to $2,000, he joined an AI startup briefly before launching a social media marketing agency. In August of the previous year, he closed the agency to cofound Yorby AI with angel investment from Jason Calacanis. The company has since secured funding and grown to approximately 35,000 users. Today, Meng estimates he works around 70 to 80 hours per week, a figure comparable to his banking days, typically spanning from 9 am to 11 pm on weekdays and eight hours on weekends. Despite the similar quantity of labor, he feels the hours differently because they are self-imposed and directed toward a personal vision. In banking, his time was owned by clients and the firm; as a founder, he owns the time but also bears the full responsibility for its outcome. This shift changes the nature of his anxiety. Previously, he feared unexpected work demands from others. Now, he worries about company growth and financial stability. Unlike his corporate past, there is no formal paid time off as a founder. Meng recalls checking emails daily even while on his honeymoon in Switzerland and Greece to ensure client needs were met. To prevent burnout, he maintains a relic from banking culture: protected Saturdays where he forces himself to stop working. However, he admits to still waking up with anxiety on Saturday mornings, though the source of that stress has transformed from external pressure to internal responsibility. Meng concludes that neither career path offers a clear winner regarding work-life balance. Both banking and founder roles involve high pressure and minimal balance. The choice ultimately depends on what an individual prioritizes at a specific moment in their life and whether they prefer working for others' goals or building their own.

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