Description

Michael and Johnny continue their FinTech series by looking at SoFi. We go over the founders' backgrounds, company history, walk through its products, and its keys to its success. We dive into how they generate revenue, and determine whether it is a Rich Tech or Poor Tech company. We wrap up with a discussion on their future as they are about to IPO in the near future (2021 Q1).

In the News of the Week, Robinhood, Reddit, Melvin Capital & Roaring Kitty showed up in Congress to explain the GameStop stock debacle, and SpaceX's latest funding round brought its valuation to $75B.

We live stream on Twitch Sundays at 9:30 AM PST!

Recorded Date: Sunday, February 21, 2021

Time Stamps

• 00:00:18: News of the Week
• 00:04:08: Student Loan Debt
• 00:06:57: SoFi Founding
• 00:11:52: Products
• 00:15:09: Revenue Streams
• 00:19:44: Keys to Success
• 00:29:52: Rich Tech Poor Tech
• 00:44:05: Conclusions

Highlights

• Robinhood, Reddit, Melvin Capital & Roaring Kitty went to Congress
• Elon Musk's SpaceX recent funding round brings their valuation to $75B
• Americans owed more than $1.7T in student loans as of 2020Q3
• SoFi initially aimed to provide MBA students with no fee loans provided by alumni
• SoFi has effectively leveraged partnerships with other prominent companies
• HENRY - High Earners Not Rich Yet
• What incremental value has SoFi added to users and society as a whole?