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David Vélez on how AI let him go from one direct report to 20, and cut Nubank's layers of management in half: "AI creates the opportunity for larger span of control, less managers, much more visibility. I personally went from having one direct report to 20 direct reports over that period, because it just increases your ability to operate horizontally. We went from 10 layers to five. The easy answer when things are on fire is to just add managers to solve the fire immediately. And partly…
Patrick OShaughnessy@patrick_oshag11h ago
My conversation with David Vélez (@velez_david), founder and CEO of Nubank. The last time we did this was five years ago, and Nubank had 35 million customers. Today it has over 140 million, and it has just announced it's coming to the US. David now talks about expanding to 100 countries and reaching a billion customers. We discuss: - State and future of global banking - Agents as a customer segment - Going from one direct report to 20 - How he's rebuilding the company with AI - Where fintech opportunities remain - The end of cash - Founder v CEO, great leadership, and finding the right mission Enjoy! TIMESTAMPS 0:00 Intro 1:25 Banking's $10 Trillion Disruption 5:54 AI's Impact on Banking 14:40 Building Moats in the AI Era 23:29 The Future of Money 36:01 Nubank's Global Expansion 48:24 Reinventing Nubank with AI 59:47 Founder Mindset and Leadership 1:13:18 Nubank's Future and Entrepreneurship
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