The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Do Rich Founders Make Better Founders | The Best Performing Fund Would Only Back YC Founders on Their Second Time | Why SPACs Will Come Back | Why Short Sellers Should Be Banned | Is Trump Better for Business than Biden with Jason Wilk @ Dave
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Apr 21, 2025 
Jason Wilk, Founder and CEO of Dave, shares insights on the dynamic world of fintech. He discusses whether wealthy founders have an edge, revealing thoughts on startup funding and the timing of IPOs. Wilk emphasizes the unfair treatment of SPACs, predicting their resurgence. He delves into the evolving role of AI in business and critiques short sellers' ethics. The conversation also touches on political influences, contemplating if Trump benefits business more than Biden, while pondering the neobank landscape's challenges and opportunities.
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Why Rich Founders Excel
- Rich founders often become better founders with more confidence and willingness to swing for big ideas.
- Financial safety and previous experience empower them to take bolder risks in subsequent startups.
Surviving a 98% Stock Drop
- The Dave stock market cap fell 98% post-IPO, hitting a low of $50 million from $4 billion.
- Despite this, Jason inspired his team with performance stock units and a strong mission, retaining key talent.
AI’s Transformative Impact on Neobanking
- AI drastically improved Dave's underwriting accuracy and customer support efficiency.
- This led to lower loss rates and higher credit limits, transforming margins and user experience.
