Something Ventured -- Silicon Valley Podcast Frank Rotman: The Midas List Veteran on Building Fintech Empires at Capital One and QED Investors
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Sep 4, 2025 Frank Rotman, Founding Partner and Chief Investment Officer of QED Investors, is a notable figure in the fintech world with over three decades of experience. In this conversation, he discusses his journey from Capital One’s innovative strategies to co-founding QED. Rotman delves into his philosophy on backing founders, the balance of expertise and opportunity in fintech, and the evolution of the music industry alongside technology. He also addresses the impacts of financial nihilism and offers insights into the future of fintech and entrepreneurship.
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Joining Capital One As A Data Experiment
- Frank Rotman joined what became Capital One from a systems engineering/AI background after meeting its founders during a job search.
- He was drawn to the people and the chance to apply data and experimentation, not traditional banking methods.
Data-Driven Customization Beat Uniform Products
- Capital One's breakthrough was treating credit cards as customizable products and using direct mail to run experiments.
- That information-based, data-driven strategy let them price and target offers instead of using a one-size-fits-all product.
Leaving To Build And Then Invest
- Frank left Capital One after it grew into a large, regulated organization that felt less startup-like.
- He built a student lending company, then co-founded QED to apply operator lessons to many founders instead of one company.