Michael Rangel (@MichaelVRangel) header
Michael Rangel (@MichaelVRangel) profile picture

Founder of Novo: $170M+ raised, 250,000+ small businesses served. Now becoming a $1M solopreneur by 2027. Writing for the self-employed and self-curious.

New York City
Joined June 2011
Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)Photo by Michael Rangel (@MichaelVRangel)
Corporate America frets AI will replace juniors. In a small business, the junior work never went to a junior. It went to the owner after everything else: matching bills, chasing invoices, sorting receipts. AI doesn't replace the pipeline. It replaces the owner's worst hours.
Companies replacing junior roles with AI and then wondering why they can't find senior talent in five years is going to be the most predictable crisis in hiring history
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More than 4 out of 5 American businesses have 0 employees. No press conference. No headline. Just the Census count. Between 1997 and 2021, of every 100 businesses America added, 94 had no employees. Nine years building for small business. Only now seeing how big that gap is.
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Google was enough to find answers. It never took a single thing off my to-do list. Most owners still use AI the same way. Ask, get the answer, go do the work. Claude and ChatGPT both just shipped agents that keep working after you close the tab. That's the part worth learning.
No one will ever admit it, but Google was enough.
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Both $1 and $850 million count as "small." Census starts at $1 in receipts. The SBA can stop at $850 million in assets (banks). Same word. Same federal government. Two definitions. I spent nine years building for this category. It isn't a definition. It's a menu.
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What started the SBA? A mink coat. The RFC lent to business. A Senate report found fees could make things "go their way." A mink coat then hit the White House. Lawyer-paid. Recipient married to an ex-RFC examiner. The law that killed the RFC created the SBA in 1953.
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The 500-employee line for "small business" was drawn in 1948. Military contracts. Selective Service Act. Six days later, Bell Labs unveiled the transistor. 78 years later, 500 is still the cutoff.
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"Horseless carriage" got a real name in a few years. 4 out of 5 American businesses are still waiting for theirs, 72 years later. The Census coined "non-employer" in 1954. Defined by what they are not. Same move as calling a car by the horse it replaced.
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More than 4 out of 5 American businesses have 0 employees. Census Bureau, 2021. Between 1997 and 2021, of every 100 businesses America added, 94 had no employees. I spent nine years at Novo before I saw how big that gap is.
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It's 2026. WTF does "small business" even mean? Nine years at Novo serving 250k+ of them. Then I tried refreshing the definition. Wells Fargo, QuickBooks, SBA, FDIC. Four sources. No two share a yardstick. Congress handed the SBA the pen in 1953. Still no clean answer.
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I moved back to New York City a few weeks ago. I told myself for years I never would. I've been uneasy the whole time and I still can't tell you exactly why. It might be that my wife and daughter aren't here with me, while I can only hear of my daughter accomplishing milestones secondhand. Or, it might be that being here reminds me of the uncertainty from the early days of Novo, the banking platform for solopreneurs I founded in 2016. Or, simply... it might just be fear. Whatever it is, I stopped trying to solve it. I've been working, reading, and trying to make my time count here. Last night I left the office and walked home. Somebody was coming the other way on the sidewalk. Casey Neistat. I have watched this man build in New York for over a decade. He was making things here before "creator" was a job title, and he made it look like the most obvious thing in the world to just start. After a few stumbles, I think I mumbled something to him. I genuinely don't know if it was a sentence or if it made any sense at all (I know... great first impression!). I was close enough that he probably thought he was being mugged, but he stopped anyway, said hi, introduced himself and was gracious about it, and then we both kept walking. I couldn't talk for the rest of the way home. Not because I met a famous person. Because of the odds. Someone whose work changed the direction of my life, walking past me on a Monday night, and all I had to do was say something. The video I'm talking about was the Nike one from 14 years ago. The one where he spent the entire ad budget on traveling the world. I was in my early twenties and I had never seen anyone treat a life that way. That video is a large part of why I've always treated life as an adventure and couldn't be more grateful for having watched it when I did. I've spent weeks trying to figure out whether New York was the right call. I still don't have a clean answer. What I have is a reminder that this city is full of people who started something with no guarantee, and that I'm about to try being one of them again. Still uneasy. Staying anyway.
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I disappeared for a year. Nine years building Novo. Sabbatical after my daughter was born. Nowhere to be for the first time in a decade. I lost the person the work made me before I figured out who came next. I'm back. Not another startup. Making the case for small business.
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Michael Rangel retweeted
Debating the future of #FinTech with @sammaule @11FSTeam #money2020 #foundercon @techstars hint: the future is bright
When your bank partner CEO is actually the best hype-man you can find @tmcpro @banknovo nitter.cf/thinkriseny/status/961…
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Michael Rangel retweeted
#NewYork Photos from our January 24 #FinTech Shark Tank @ThinkRiseNY: meetup.com/NewFinanceNewYork… @iacapgroup @clairelecarpent @JohnZettler @Commandiv @Anton670 @TradeExchangeGP @MVRangs Well done to #Winner @banknovo
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Michael Rangel retweeted
Let's just be clear. Just 5yrs ago this would not have been possible technologically. @techstars Demo Day! @7chordbd @banknovo @SigmaRatings @QantaAI @synswap @real_blocks @cogninow @webild @pathsparkwork #BarclaysAccel
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Michael Rangel retweeted
#NewYork Well Done @MVRangs @banknovo banknovo.com/ for winning our #FinTech Shark Tank yesterday evening @ThinkRiseNY : meetup.com/NewFinanceNewYork…
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Thanks to @MrJasonGrad (Founder + CEO of @bstowapp) for coming back to #givefirst as a mentor. #BarclaysAccel pic.twitter.com/wn25aX0N
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Another interesting talk by the Master of Moven and all that is FinTech @BrettKing @BBVACompass #resistanceisfutile #nmchi17
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