Immad and I open with an in-depth discussion of the collapse of Silicon Valley Bank, including how Mercury handled a massive influx of over $2 billion in deposits in the wake of SVB’s insolvency. Immad sheds light on some lesser-known structural aspects of the banking system and explains how they affect banking products, customer experience and building fintech startups.
Immad and I also break down Mercury’s unique experience with crowdfunding a portion of their Series B– they raised $5M from 2,500 investors as part of the $120M round. We discuss changes in the VC landscape, including the rise of Dual Threat CEOs. Immad is a prolific investor in addition to a CEO, and he shares his thoughts on why Dual Threat CEOs can outperform conventional VCs.
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