The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 8 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Velez: Entering investments via acquisition was Nubank's worst strategic decision
“I think the, perhaps the word decision from a product and kind of strategy perspective has been entering investments. When we enter investments via a big acquisitions, we enter via an acquisition versus organically, and I think we underestimated or I underesti…”
Nubank funded zero-fee products by reallocating marketing budgets from Google and Facebook
“We always, since the beginning said, we'll focus on building the absolutely best product that we can have the best experience and trying to, instead of investing money in marketing and giving that money to Google and Facebook, we'll leave those money in the po…”
Velez: Nubank interviews focus entirely on character traits over career experience
“My interviews today are not interviews about career experience. They, all the interviews, when I interview somebody that's a newbie, it's all about character traits.”
Velez: Building a bank in Brazil was chosen for its extreme difficulty
“This is the single hardest thing I can possibly imagine myself doing. Building a bank from scratch in Brazil is the hardest thing I can do, and that's why I wanted to do it.”
Velez: Nubank's first São Paulo office cost $500 monthly for 20 people
“We started the business in a very small house in Sao Paulo. We paid, I remember the partner of Sequoia, Michael Abramson was there. His mind was blown when I told him we paid 500 dollars per month in rent, and we had 20 people working out of the house.”
Velez: Nubank allocates 80% of its resources to core financial services
“We allocate today about 80% of all resources and energy to financial services, so that core continues to have most of the allocation of resources.”