Dave Inc.

“If you ever seen the show Dave, that's an amazing show that we produce on FX with Lil Dicky, his character Dave, it's biggest comedy in FX history.”

“I mean, Dave, we have no preferred equity on our cap table. We have no debt in our business.”

“Even when our market cap went down 98%, the amount of people that left the company during that time was so small because people weren't here to make millions of dollars.”

“But my CAC is 16 dollars because I take this speed of value approach where I want to make you a happy customer immediately.”

“That note was not due until 2026. And I think it was last year, January, we paid them back seventy one million dollars as opposed to the, you know, at the time of repayment would have been probably 109 or one hundred and ten million.”

“And actually we only raised sixty million of primary capital prior to going public.”

“And we also now have 80% of our customer support inquiries are driven by AI”

“We had this big partnership with FTX. That's when our market cap reached its all time high. Was when we announced that partnership and they wrote us a hundred million dollar convertible check into the company.”

“I would say a lot of respect for what Revolut's doing. I think they're, I'd almost call it like regulatory as a service. Their ability to just go into these different countries and set up operations is pretty remarkable.”

“We fortunately never had to do any RIF. The result of profitability was never because we had to lay people off. We were 300 people at the IPO. Dave is 300 people still today.”

“I think we probably minted more millionaires at the company as a result of the performance stock units than we did in the actual IPO process.”

“Had I gone public nine months earlier, we would have had the chance to raise potentially more capital. We would have been able to Turn over our earlier shareholders, bring more longer term capital. And like, we never would have gone to a five billion dollar va…”

“And so we've been able to improve our gross margins on Dave from, I think at the low point in 22, we were in sort of in the mid forties. And our gross margins in Q four were 72%.”

“All of our pipe investors from our IPO bailed before our lockup expired.”

“She was actually a seed investor in, in the company, a 50,000 dollar check into the seed round. It was only, only ever seed investment. So I think she's up like a hundred X on that on that particular deal.”

“There's a lot of companies that we would have probably bought by now that are very small, but have raised a couple hundred million dollars of prep. And so it just makes their inevitable outcome Impossible.”

“The investments again in AI is really what led to a lot of the profitability.”