David Vélez, Founder and CEO of Nubank

"You want to position yourself in the scarcity of the market, not in the oversupply."
In this View From The Top, David Vélez, founder and CEO of Nubank, sits down with Christopher Stromeyer, MBA '22 to discuss why he is passionate about social impact, his drive to continuously be challenged, and how he reinvented the wheel of the banking system. "Why would you wait decades to solve issues if you can now?" says Vélez.
#gsbvftt #gsbpodcast

🇧🇷 Great stories from Brazil, Argentina, Colombia… from Latin America! From GSB to the world! Cheers!

[@brandonemmanuel5032]

Wow. I signed up for Nubank last year and had no idea the founder was this amazing person! Super motivating.

[@rustymertz]

How do you like the Nubank experience?

[@andyyang2797]

this guy is the career path that I am trying to have, work in a VC so can closely watch the entrepreneurs and learn, and somehow start my own business after absorbing the knowledge

[@MiguelGomez-ft8cw]

Yessss and which degree do you think is best to get close to VC

[@johnczech7074]

This series is excellent! Thank you for doing these videos!

[@Yochillybro]

Thanks a ton Stanford for doing this. Its amazing how you guys go out of your way to inspire us. It provides us with many different perspectives and a strong desire to one day appear as a student

[@CTBR346]

Absolutely legend! Keep going !

[@beterraba_wojak_shorts]

Nubank is super known in Brazil. And I thought this guy was from Brazil and I kind of freaking out when the hoster said "Bienvenido".

[@estudiom142]

Excellent interview, amazing! 1st to Cheer from Argentina

[@manuelavilasb]

Great interview! 🇧🇷

[@dharangutti]

Inspiring!!

[@vitorarthuso7327]

Listening IS ART tô make good desicion to the Future richess

[@andresfernandorodriguezrod1258]

Muchas gracias por esta entrevista.

[@JULIANTELLEZMENDEZ]

David is probably 20 years ahead (both mentally and financially) compared to most people in Latam. There will be a change of power in South America just like it happened in America and Europe. Take aways from this interview: - Every single industry you see in Latin America will be reinvented - There's a lack of talent in Latin America (Particularly in Software Engineering) - Learn to think, to write software, to be curious and to always question everything. - People are everything

[@FelipeSoares-oo7bv]

Very helpful

[@vipararasphone1137]

Love this!!

[@KMDoc]

12:15 "You mentioned you wanted to solve difficult problems, you chose banking, which is highly regulated, in particular latin america has a lot of trench players, particular in Brazil, why banking? What were the VC's telling you about that when you were pitching that idea?" "A couple of reflections, I think I had sometime, going back to really what driving me, the big question was what is impact? How can I optimize the amount of impact per unit of time?" 15:30 "So a lot of arguments that the experts were proposing against that idea, but when you think a little bit deeply about them, they would be very weak underneath. And ultimately my conclusion at the end of maybe two months of talking to people was, wow, there is so much fear." 28:25 "Culture allows you to hire people, people build products, products bring you customers. Ultimately, consumers dont come to you because of your products, consumers come to you because of the culture." 42:15 "Ultimately, not let this technology become one more driver of inequality, but actually have it be an enabler of more equality of opportunity for everybody."

[@miguel.oviedo]

Thanks man I really love the key points

[@Xergecuz]

The biggest companies in Mexico are Bimbo, Cemex and America Movil, the first one is a retail food company, the second one is a cement company and the third one is a communications company. Also Nu only provides credit cards in Mexico, its not registered as a bank.

[@joseluisalvarez6817]

Exactly

[@yutube5167]

amazing guy

[@patino851]

What and how? They give 15% while most on us CDs 5% on Ally bank? Still questioning why😮 Edit. What I do not undesrand yet is he being Colombian became a Brazilian head bank and now conquering in Mexico. Saludos desde 🇲🇽

[@LucasSoares-mh2nz]

genius

[@Pettynicolla-HD-N.Ayeshamedina]

Hola...N/A

[@vitorarthuso7327]

Good side and bad Just like ALL things some misunderstood and always lack of cummunication

[@amaytv7205]

They don't know what's coming ??? They haven't seen it yet 😭😭😭

[@Droppinboze1]

Elaborate

[@hussienalsafi1149]

🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸😊😊😊😊

[@eduardogmartins]

Stupid move. Why not wait for the company to be profitable before the bonuses? Maybe because he himself docent believe in the company. Well, it wasn't a stupid move, just a very smart move in the world of finances I guess

[@eduardogmartins]

smart guy… but it’s impossible not to be pissed at a company that is paying hundreds of millions in bonuses for its directors while it isn’t profiting yet. It seems like they wanted to IPO as soon as possible so they could flip the finger to the investors. Its 40% down since the IPO. It’s not profitable. And this guy just got 100 Million in bonuses?? This is a case where you understand exactly why investors like Icahn get so pissed at some CEO’s and other directors.

[@eric5901]

Berkshire bought $1 billion worth of share at ipo i.e 100 million share at $10

[@eric5901]

This is definitely going to be a 5-10 year investment