Anthony Noto: SoFi CEO
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- Опубликовано: 29 май 2024
- In this episode of For Your Innovation, ARK CEO and CIO Cathie Wood and Fintech Analyst Andrew Kim engage with Anthony Noto, CEO of SoFi, to dive deeply into SoFi's evolution from a student loan refinancing entity to a comprehensive financial services conglomerate. They explore the pivotal role of technology in shaping financial experiences, SoFi's strategic growth initiatives, and its mission to democratize financial services. They illuminate SoFi's innovative approach to integrating services like investment, loan, and savings products on a single platform, emphasizing the vision to empower individuals financially.
"Building trust is the only thing standing between us and being the best. We won't stop until we're there." - Anthony Noto
Key Points From This Episode:
- Evolution of financial markets and the impact of technology
- SoFi's growth from a student loan company to a comprehensive financial platform
- Role of artificial intelligence (AI) and machine learning (ML) in enhancing customer service and fraud detection
- SoFi's approach to creating a diversified financial services ecosystem
- The importance of building trust and brand recognition in the financial sector
- Launch of alternative investment vehicles on SoFi Invest
- Exploring why Anthony Noto knew he needed to purchase the rights to a stadium
- The concept of democratization in financial services and its future implications
- Galileo's role in SoFi's ecosystem as a technology platform for banking services
- Anthony Noto's reflections on SoFi's journey and future innovation opportunities
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one of the best CEOs in the market, this is fantastic!
Stable, logical and not erratic
SoFi is years head of competition. Most Fintechs are one-trick bolt-ons to legacy banks and operate with their middle-men fees. This increases complexity and cost, and bottlenecks performance, scalability, security and adaptability. With SoFi's tech-platform, customers can have an all-in-one, end-to-end tailored packages and NOT a one-size-fit-all. SoFi is purpose-built for integration and innovation, especially relevant now with onset of AI-enabled features that offload and streamline every part of our lives. Noto is probably the best CEO in the world. From JPM to Paypal or Visa, everyone is a competition to SoFi and they're years behind!
Pity the sp or others think it’s just a bank. Come on Sofi…this is the next level
I’m invested well into sofi but must say service is lacking
Do you mind sharing some examples where for day to day users it will make a difference?
Happy to be a SoFi shareholder.
SoFi is my biggest holding and Anthony Noto is the reason for it. There are no certainties in life and businesses may not achieve greatness even if they have the best product. But all an investor like me do to increase the probability of success in this uncertain world, is to bet on a good Jockey. I feel there are hardly any better Jockey (leaders) than Anthony Noto. He seems very competent and a straight shooter.
"seems" is a very good word. TWTR was in the $40s in 2015 and then under $20 a few years later. Guess who seemed to be competent and a straight shooter during that period of time.
Great episode! Love that Sofi is bringing access to the VC to everyone with partners such as Ark.
Excellent interview. By far the best one that Andrew has done. Mr. Noto is a fantastic CEO.
Wow great interview of Noto by Cathie! This has over 500k subscribers!
loading the boat after this on sofi
tanner gonna have a field day with this one
XDDDDDDDDDD
He already did.
Will SoFi ever bring out business checking & savings, and business credit card? Would love to move my small business to SoFi
It’s on the way, I’m pretty sure
We have small business loans. I can see us heading that direction.
I've been hoping this for a while but my guess is at least a year or two before we see the product offered. I don't think business banking is very profitable.
Interesting interview. Impressive ceo
Great interview, fantastic CEO.
Really ended before talking about Galileo!! You guys need to make a second episode to talk about it. Skipping what will be the next leg of growth of sofi.
yes! I also want to know how they managed to increase the ceiling on the deposits that are insured so much higher than anyone else. How was that even possible?!
I trust this dude with my 💰. He has a terrific track record. Go SOFI!!
Haha I trust him with my cash too. Use the bank, use the brokerage platform, (for everything except selling puts haha) and own the stock.
Just canned my bank savings account and transferee to Sofi. As an investor you need to also be a customer if you want the company to succeed
Thanks for this great interview!
“I thought it would be a longer war”. Noto put them on a tshirt haha
Anthony Noto is such a great CEO. I'm a very proud SoFi shareholder. Excited for the future!!
I like Anthony as CEO of SOFI and him as a person. It is pleasure to see how the Company has been growing under his leadership and directions. Even though the stock prices of last two years are not very much appreciated if you have invested 2021 and earlier when the stock price was around $20~25, I have big trust on Noto and the Company to be one of successful players in the fintech and banking services fields.
I LOVED this interview. In fact I'll subscribe to this channel in the hopes of more such interviews (also with Noto, hoping he'll return). Noto is such an excellent CEO. The way he explained the deal with the NBA is terrific. He's laser focused, experienced, polished - all I would hope for in a CEO. This stock doesn't deserve the amount of shorts it has and be manipulated against this heavily. It should be all the more reason to buy and hold and buy and hold and buy and .. hold! SOFI's day will come !
This guy is extremely motivating. Need a father figure like him for anyone out there
Switched from Citi. Never looked back . 💪💪🇺🇸🇺🇸
I like where my money is going with SoFi. In previous years, I've never had more than $10 on a 1099-Int from any other bank, but this year I'm having to pay taxes on over $8600 of interest earned from SoFi - this is a good problem to have.
I know what you mean happy to receive a similarly fat 1099 this year thanks to SoFi! 😅
Glad to see Danny Dealz's father on the Podcast
I love listening to Mr Noto. Best CEO in the game in my opinion.
This guy aint playing. He's rocking it
Finally got Noto on. Glad to listen to this one.
No Galileo questions??? 😅 🤔
A sweet and wholesome interview.
We need more of this!
Nice interview. Anthony and Cathi are favorites.
Anthony Noto just doesn't miss.
This answered where I should park my $100k for the next 10 years.
Amazing work👏👏
Love Anthony Noto
Hows that Invitae investment going?
Gonna go all in. I like the company, I like the etf offered, the lending of loans, the one stop shop, the acquired of SoFi stadium branding was just genius as a means of advertising. Only negative is there are no SoFi atms 😢.
Great interview but would definitely need a follow up to deep dive in the Technology Platform of SoFi. It is a shame that you had to close the interview just when started to talk about it.
Love it!
Why doesn’t SoFi invest allow option selling?
What a revalation from this CEO!
I love this guy
Got a couple thousand shares and won't sell them for anything. Sofi shareholders are way ahead of the future
I enjoyed this confab. Really disappointed it ended where it did.....felt like Noto was also enjoying this talk and was about to expand further on Galileo.
custodial brokerage account please!!!
Anthony Noto for president!
This is a great interview and have the opportunity to see Mr Noto offer his views and where Sofi is heading! Thanks Kathy and the ARk invest for putting this together for those of us who are investors in SOFI.
He really good at pointing out the advantages of Robinhood
Whoa 10/10
Nice
Please do timestamps
Cathie should have mentioned Square/Block a bit
Sofi 💪 Just hold Cathie 😂
Great interview. Cathy. Let see one with Jason of DNA, and tell all of us why you are so bullish with 177 million shares you have.
You just keep buying. Even at $1.15.
I am still not convinced the SOFI products are truly unique. How is the credit card or a loan product different from what's in the market? Incrementally better is not enough to win.
SOFI stadium, advertising is not unconventional.
It is the first non brick & mortar online bank that offers the highest yield savings account, a brokerage account, credit card, student & home loans, now travel booking and owns the technology their competitors use. Targeting gen z and millennials this is an absolute slam dunk. Just now announced profitability
If there was nothing unique about SoFi it wouldn't be growing at this rate.
SoFi has the *unique* advantage of being a digital only bank. There are no brick-and-mortar costs to operate real-world banks in major cities.
They use this to their advantage by offering customers:
1) 4.6% APR on savings
2) Direct deposit 2 days early
Neither is unique but both are very rare. Legacy banks like Schwab, BoA, JPMorgan Chase don't offer an incentive nearly as strong, and they cannot afford to, partly due to their brick-and-mortar costs.
Then they ensure they acquire more customers cost effectively with lucrative referral bonuses and sports deals, such as being the official bank of the NBA.
They also own their own tech stack and make good money on it, which again, not unique but very good. Maybe they don't appeal to you as an investor, to me they seem like a slam dunk and are the only barely-profitable company I have a full position in.
General noto
Does anybody elase remember Soto from his days at Twitter where he was at best a mediocre COO - no thanks Ark
They need to work on a more user friendly investment platform. Charts, clarity etc. You need to hop around to much. It needs to be far more robust and quickly tbh.
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 2.1BTC to a decent 15B TC in the space of a few weeks... I'm especially grateful to Linda Wilburn, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..
Why would you not keep the podcast going longer to talk about Galileo? Crazy to just stop it there, arguably the most important bull thesis.
Elon and Anthony should merge Sofi into X. Linda run media side and Anthony everything else. Elon could generate ideas, push tech development/AI and pullback.
I am tired of keeping my business accounts with BofA, Anthony.
SQ is flying up, why use sofi?
SQ isn't a bank. SoFi has a bank charter. Your question is sort of like asking "why use Apple when PayPal exists?"
ARK likes ROKU for some reason, worst user experience ive ever used esp when Apple now has the microphone you can speak your multiple failed password attempts into the device
Take a look at Sofi’s BBB rating and ask yourself, is this a company I want to invest in?
SoFi has an A+ rating with the Better Business Bureau
Look at Amazon's BBB rating. No one cares about ratings buddy. We care about success
Go looks at chase, Wells Fargo, Bank of America stop trying to short Sofi. Sofi is a wonderful company almost at 10 million clients. Only a few years old. Imagine 10 years from now!
@@snooker1711 Customer reviews on BBB are abysmal
Nope. Better to own NVDA and TSLA for 10 years than a home! 💰💸💰💵💰💵💰💸
Why not both? Renting is paying for an asset with an equity of 0, home ownership with an FHA loan is pretty affordable if you choose an inexpensive house.
171M shares short on the current float... just obscene... This isn't a speculative stock or company... it's fucking banking! Get ready for the massive W. It'll take time, but as soon as we get 4 quarters of profitability in a row --> S&P call up from the minor leagues will be pending. My timeline is for 2027 - but this is an easy double up, and could push the shorts into making this a triple up!
Squeezy coming to HOLO get in now ride it up to 70..... and buy more Sofi 🤑✌️
$20 eoy for podcast
Sofi sucks! Sell Sell Sell except on the day of earnings. Everywhere I look stocks are going up 2x-3x-4x-5x there value and then you have Sofi up and down 5c-6c-7c-10cents Fing boring!
Yes please sell, I need more
Judging a company by how fast its stock price rises is a recipe for disaster. It's how people ended up buying PYPL for $305, or CISCO at its height before collapse. Contrary to what some believe the market can and does mis-value companies. Identifying under-valued companies, like TORM in early 2022 a 'boring' shipping company which had not seen price movement in line with its value for years is a recipe for profit when the market wakes up. If you had bought Torm in 2022 because you ignored price history and focused on company fundamentals you'd be sitting on a nice 470% return in two years. Maybe nothing fancy to you but to the rest of us Plebians that's pretty good.
@@avocadoarmadillo7031what is your SoFi price target?
No Galileo questions??? 😅 🤔