From Investment Banking to Creator Financing: Eric Wei’s Journey with Karat Financial
Eric Wei, a 32-year-old entrepreneur, took an unconventional path to enter the creator space. Unlike many, he didn’t start as a content creator himself. Instead, he followed a traditional career route – attending Harvard and working in investment banking and consulting. However, his passion for the creative industry led him to join Instagram as a product manager, where he worked closely with creators. This experience sparked an idea that would eventually become Karat Financial, a tech company that helps creators manage their finances.
Wei’s vision for Karat Financial was born out of a desire to support creators in doing what they love. “I said, ‘Wow, here’s a whole group of people who found a way to support themselves doing what they love.’ I want to be a part of that world,” Wei shared with Mashable. Recognizing his background in finance could be an asset, he decided to support creators with their financial needs.
Karat Financial’s early days were marked by challenges in building trust with creators. Wei recalled, “In the beginning, 100 percent, I was just some guy, and it’s because of that nobody wanted to work with us.” To overcome this, he adopted a three-step process: building relationships himself, adding value through mutual support, and hosting events for creators to connect with each other.
One such event, “Creator Pickleball,” has become a staple in the community, bringing together some of the biggest YouTubers and streamers. Through these efforts, Wei has built a network of genuine friendships, including with creators like Graham Stephan and LaurDIY.
Wei’s approach to building relationships extends to his content creation strategy. He co-hosts two podcasts: the Karat Podcast, which features interviews with creators, and The Joy of Missing Out, a more personal venture with friend and creator Chloe Shih. Wei emphasizes the importance of being true to oneself when creating content, citing his first viral moment on the Karat Podcast, where he discussed relationships and attachment styles with Nas Daily.
This authenticity has helped bridge the gap between Karat Financial and the creator community. Wei noted, “The podcast is so helpful from a business perspective because it demonstrates to people watching that Eric and Karat have a relationship with these creators because they’ve made the time to sit down and do an interview together.”
As Karat Financial continues to grow, Wei remains committed to supporting creators in their financial journeys. He shared, “The number one thing that matters when helping someone with their finances is whether they have heard of you before and whether they trust the brand name.” The company is building a database to provide creators with more information on what they can expect to monetize based on their social stats, helping them navigate the often-tricky world of brand deals.
Wei’s expertise has also led him to identify emerging trends in the creator space. He highlights the rise of creators who are building businesses simultaneously, citing Mino Lee, a 21-year-old entrepreneur and Karat client, as an example. “It’s the creator as entrepreneur and the entrepreneur who figures out how to lead into content from the very start,” Wei observed.
As the creator landscape continues to evolve, Eric Wei’s journey with Karat Financial serves as a testament to the power of innovation and community-building. By combining his passion for the creative industry with his expertise in finance, Wei has created a platform that supports creators in achieving their goals.
