A culture of purpose — and a tribute to a friend

By Theodora Lau and Bradley Leimer of Unconventional Ventures?

We had envisioned a different theme to write about this week before we received the heartbreaking news of the passing of Brandon Dewitt, MX Co-Founder and CTO. The world has lost a passionate leader and a kind soul; and words cannot express this loss.?

We all can feel what Brandon meant to his team at MX through the words of Ryan Caldwell. And for those who have never met Brandon, or heard the story of the adversity he faced, take some time to read this piece he wrote about what excited him about the future. And take some time to watch his inspirational story of red lights and green lights, and what innovation and stewardship meant to him within the context of the financial services space.?

Brandon, along with Ryan Caldwell, Nate Gardner, and James Dotter, graciously offered their time to tell us their founding story as we geared up to write our book, Beyond Good, in early 2020, just as the pandemic began. As a tribute, we would like to share an excerpt here that provides a small glimpse into their relationship. We hope you’ll be inspired by Brandon and the team, and their relentless focus on purpose and making a positive impact on our society.?

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When we think about founding stories and culture, none stands out more than MX, a FinTech provider based in the Silicon Slopes in Utah. Its visionaries, Ryan Caldwell, Brandon Dewitt, Nate Gardner and James Dotter and many others, represent and shape the culture of the company and the heart of MX. It’s a founding story that feels very different from a Silicon Valley one.

MX was born in 2010, shortly after the financial crisis. Its mission is to empower the world to be financially strong and to influence the financial-services industry to be different – to be better. It is a big hairy audacious goal, especially for an industry whose business model is very much based on fees. They do this by helping banks and credit unions help their customers understand their financial condition better, and how to leverage data to better manage their money.

‘Financial institutions have a moral imperative to always be advancing mankind, to be a guiding adviser for their customers,’ says Nate Gardner, Chief Customer Officer of MX. Perhaps, not surprisingly, one of MX’s core values is the Founder’s Mindset: ‘If not me, then who? If not now, then when?’ The resolve to tackle challenges big and small is not only part of the company’s DNA; it also reflects part of the team’s personal character – rooted in a keen sense of putting purpose before profit, of building a strong foundation for how society should operate.

To make a purposeful contribution means focusing on something beyond the immediate financial reward, not sacrificing long-term success for short-term gains. According to James Dotter, CFO of MX, ‘Success should not be solely based on a monetary yardstick; focus on purpose and creating value – redefine your goal from being a financial intermediary to becoming a true financial advocate.’ For a startup that is still partly reliant on venture capital, this can be challenging. ‘

You have to decide: Are you going to be a builder and executor, or will you be a handshake entrepreneur?’ Brandon Dewitt, Co-Founder & CTO at MX.

Just like having a group of employees who share the same values, having a group of investors that are aligned with the company’s mission is just as crucial. What happens when you start measuring the organization’s contribution to the society, to the consumers and to the industry as a whole?

In practical terms, it means having a team where you can have vigorous debates, but walk away stronger; it means having the passion to build something truly meaningful, and innovating to move mankind forwards; it means having a healthy, deliberate culture to do good – one that is tightly integrated with your core values. Building something meaningful is hard work. But as the team at MX shows, it can be done, even in the modern world of data.

“I don’t know if we could have had the company to the degree that we did, if we didn’t have these unique personalities that share the common values and desire to impact the world.” Ryan Caldwell, Founder & CEO of MX

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In lieu of flowers, MX will be making a donation to St. Jude Children’s Research Hospital. For donations made in Brandon’s name, MX will be matching all donations dollar for dollar. To donate, visit: https://giftfunds.stjude.org/BrandonDewitt