04:32 Gusto offers a comprehensive HR tool chest, while the success of a product lies in its reliability rather than the number of features it has, and scaling up too quickly without proper validation can lead to failure.
- Gusto started as a tool chest full of amazing HR tools, including payroll, benefits, org chart, and 401k.
- A product with one reliable feature is better than a product with many features that don't work, as demonstrated by the example of Zen Payroll and Gusto.
- Copying successful business models from overseas markets and assuming product market fit is a given can lead to scaling up too quickly, burning a lot of money, and ultimately failing, despite getting validation from investors, press, friends, or employees.