Startups fail in LATAM by expanding before winning their home market
David Vélez · 20VC: Nubank CEO David Velez on Scaling Nubank to a $25BN Company, Why What Makes a Great Founder Does Not Make a Great CEO & The Responsibility Framework and How Leaders Can Use It To Drive Efficiency · Mar 26, 2021 · at 11:33
David Velez is the founder and CEO of digital bank Nubank. He addresses why international expansion frequently fails for technology companies across Latin America.
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“And my view of why it has failed in certain areas is it's actually that I think companies have tried to do it too early in their life cycle. And you have to do it once you have a very strong core, when you actually have won the first country.”
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