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Thanks for the encouragement Josh! We raised a round post-YC. Oh, and we have revenue too. We're up to eight people and have a long runway. Buying a bank wou

by zt 13y ago

Thanks for the encouragement Josh! We raised a round post-YC. Oh, and we have revenue too. We're up to eight people and have a long runway. Buying a bank would take a different sort of capital though. One has to think about working with PE/hedge funds (some of whom have already bought banks) or even sovereign wealth.

josephjrobison 13y ago
From the consumer point of view, as a startup bank I think it would be important to guarantee to the users that you'll accept no buyout offers from big banks for 5 years, and then renew that commitment every 5 years or something. It might be a crazy idea and maybe those who don't like big banks just are more vocal about it, but a lot of people are afraid of trusting a new system that can be gone any day or snapped up by a monolith that they were trying to avoid.
josh2600 13y ago
Hey Zach! That's funny, I couldn't find your post-YC round anywhere on the interwebs or CrunchBase. You've done a great job keeping that under wraps (also the revenue piece, WOW!). I'm excited for you guys and look forward to banking through you in the future. I agree that sovereigns would be interesting (as would PE/hedge) and I'll point out that we have many of the largest fund of funds on the planet in the bay area (within spitting distance of your office actually). Best of luck and I look forward to seeing your team prosper in the future.