lending

“Insurance for the longest time was almost an underfunded market. And part of the reason why insurance was underfunded relative to the size of the industry and relative to how big lending is, it's really hard to get insurance right.”

“In most categories of insurance, the dollar volumes are higher, and the feedback loops are a lot longer, and so you can't use the same technique.”

“The only way that you reduce interest rates for people is you either discriminate based on outcome-based payments, which often requires More machine learning, more data, or you're able to charge higher interest rates over time. So if you have, like, a massive …”

“It really is a unique industry where more customers is actually worse than less but more profitable customers because each incremental customer is like a coin flip of profit or loss.”