jegolden1

The reason is that there is tons of money still flowing, because accounting is an industry that is easy to pitch to an investor in 2024.

1. It touches everyone 2. Everyone finds it annoying 3. Everyone thinks they pay too much 4. AI (still sexy) can fix the above

Unfortuntely, we're still decades from strong products.

I wouldn't touch any of these companies with a ten foot pole if I was a consumer or investor.

And fourth maybe don't name and shame the poor salesperson.

Tracks with what I've seen from other companies that tout their accounting AI/automation. Never measures up .I was never a customer - did Bench overpromise to their customers directly? They always struck me as the most human from the outside.

Q - is it that the strategy was at odds? Or was it that the software wasn’t good enough yet, so expensive bookkeepers were required to supplement?

Accounting startups that rely on automation are doomed to fail. Customers demand perfect accounting at automation-reflective prices. It’s just not possible.

Check out story of scalefactor.