In this episode of Yet Another Value Podcast, host Andrew Walker welcomes back Brian Finn of Findell Capital for his fourth appearance. Brian, owning approximately 10% of Oportun Financial (OPRT), discusses his ongoing proxy battle to reform the company’s board. He explains how Oportun’s shift from a focused lender to an unfocused “fintech empire” led to operational bloat and shareholder destruction. The discussion probes governance failures, board entrenchment, and the recent removal of a high-performing director. Brian also outlines the investment thesis for Opportune, emphasizing its underserved customer base, strong unit economics, and potential for a major turnaround under experienced leadership. _____________________________________________________
[00:00:00] Podcast and guest introduction
[00:00:17] Brian's stake in Opportune
[00:02:03] Overview of Opportune Financial
[00:03:26] Critique of management decisions
[00:04:11] Public campaign and board change
[00:05:32] Legacy board's poor performance
[00:06:15] Cost issues and board pushback
[00:09:42] Operations improved by new directors
[00:10:36] Scott Parker removed from board
[00:12:02] Proxy fight motivations detailed
[00:14:52] Management oversight challenges
[00:16:11] Rebuttal to board's defense
[00:18:01] Governance structure and concerns
[00:21:34] Why Opportune is worth investing
[00:23:25] Opportune unit economics breakdown
[00:27:25] Rate cap policy criticism
[00:30:12] Securitization and interest costs
[00:34:17] October financing explained
[00:38:25] Strategic oversight recommendations
[00:41:01] Nominee Warren's qualifications discussed
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