So, here’s the scoop: Sharan Hegde, the finance guru behind The 1% Club, just announced a pretty big change for his company. If you don’t know him, Sharan is one of those “finfluencers” (financial influencers) who makes finance fun and easy to understand for people like us. But right now, things are a little different—he just laid off about 15% of his team, which means around 30 people.
In a LinkedIn post, Sharan got straight to the point: some friends and media folks reached out to him, assuming he might be in trouble, maybe even going bankrupt. But he was quick to clarify—this layoff isn’t about his company failing. Instead, he explained that they’ve grown so fast that it was time for some adjustments.
Now, a little backstory: The 1% Club launched just two years ago, in 2022, when Sharan teamed up with his co-founder, Raghav Gupta. Their goal? To spread the word about smart money habits and finance tips to a wider audience. Since then, they’ve gone from a few interns working in Sharan’s bedroom to a team of 200 people and annual revenue over $8 million. Crazy, right? But growing that fast also means there are bound to be some speed bumps.
Sharan admitted that along the way, they might’ve over-hired or added some expenses that didn’t quite pan out. But now they’re pivoting. They’re all about AI (artificial intelligence) now, and it’s helping them make their work smoother and faster. AI is handling a lot of the tasks they used to need a lot of people for, like creating content, customer support, and doing research. So, even though letting people go is tough, it’s also part of making the company more efficient.
One cool thing about The 1% Club is that Sharan and Raghav have always run it without taking on big investors. They’re basically building this company with their own earnings and staying super cautious about spending. In his post, Sharan reassured everyone that the layoffs weren’t an easy decision. He also made sure that those who were let go got a fair severance package and even helped them look for new jobs.
The roles affected the most were in content, research, and marketing—the areas where AI is stepping in the most. And honestly, with the way AI is developing, this shift might not be that surprising. But Sharan shared that he’s still focused on growing The 1% Club with or without big investors—staying careful with finances and just leaning into smarter, tech-driven processes.
So, bottom line? Sharan’s taking steps to ensure The 1% Club keeps growing but with a bit more efficiency and AI support. It’s a big change, but it sounds like he’s committed to navigating it responsibly. It’ll be interesting to see where they take things from here.