New Delhi, May 20 -- Ryan Breslow co-founded Bolt in 2014 from his Stanford dorm room. The fintech company soared to an $11 billion valuation in 2022. It employed thousands of workers at the height of its success. But fortunes reversed sharply soon after.

Breslow stepped down as CEO that same year. By 2024, Bolt's valuation had reportedly collapsed to around $300 million. That represented a decline of nearly 97% from its peak.

Multiple rounds of layoffs dramatically reduced the company's headcount. Breslow attributed the collapse to poor decision-making and excessive spending.

He returned as CEO in 2025 with a single mission: survival. Speaking at Fortune's Workforce Innovation Summit on 19 May, the 31-year-old described his approach a...