‘Tech companies will dominate industries’

Phillies, from Nubank (NUBR33):
Nubank IPO. Photo: SUNO . News

CEO and Co-founder of nubank (NUBR33), Colombian David Velez said he believes that all industries in all countries will be dominated by technology companies. According to him, it is not necessarily the big tech companies, but the companies that put technology at the center of their strategy and have an organizational culture around technology.

Velez, at a panel discussion on Wednesday (13) at VTEX Day in São Paulo, referred to the phrase US venture capital fund a16z, which says that “software is eating up the world.”

“Everyone is rushing to find developers. Talent is the biggest obstacle.”

For him, however, the new unicorn wave Brazilians can change this scenario, transferring young people to technology due to the success stories of Brazilian startups.

This week, Nubank acquired a line of credit $650 million in funding from Morgan Stanley, Citi, Goldman Sachs and HSBC, to invest in Colombia and Mexico. Exploring other countries – besides Brazil – only makes sense when there is a long-term vision, Velez said..

“Trying to do too much in the short term doesn’t work. One of the advantages of having a long term is that you can think big. When you have a vision for decades, it has no limits. We have always thought of Nubank as a potential global company at some point.”

Vélez said that before Nubank, it was Startups from Brazil They were clones of American companies. Now, he says he receives weekly emails from entrepreneurs who say they are building ‘Nubank Nigeria’, ‘Nubank of India’ or ‘Nubank of the Philippines’.

“A Brazilian startup can influence and lead the industry outside of Brazil and Latin America. We got out of Brazil because we identified a global problem and had a long-term vision,” the billionaire said.

XP and Nubank: Big Banks Challenge

In the same committee, XP Chairman and Founder, Guilherme Benchimol, said that financial marketo He has a lot of inspiration from banks in Europe and the United States, but according to him, Brazilians are “more competitive workers who dedicate themselves more limitlessly”.

Benchimol said that when he started his business, in 2002, he had R$1,000 in his bank account. A friend loaned him R$5,000, and he launched a course that taught him how to invest in stocks. “If I hadn’t endured a few more days, I wouldn’t have found XP today,” he said.

For Nubank, the difference to the track was the press. He said that in early 2015 an article published by a news portal Technology Focus Put 30,000 people on Nubank’s waiting list. That’s when he realized he was in the game. “In the field of technology, we find Top who wanted to take risks.

Benchimol said he gained confidence when he enrolled in the first course and saw that it worked, and the students became clients. “If I want to build a company that competes with the banks, I’m going to have to help people, because presumably the current job holders haven’t helped.”

The CEO advises that when starting a business, the entrepreneur should find arbitrage, whether it is a better experience or a more competitive price. A grain of sand distinguishes.

The path of the entrepreneur, according to Benchimol

For the XP founder, the life of an entrepreneur is a long-term build. “You find an open wing and you advance, opportunities improve, and you make a lot of mistakes along the way. When I started the company, I had no access to capital. I had to balance income and expense. There is no magic in the short term, things take time. It’s a situation A grain of sand a day with discipline and flexibility.”

She says that Brazil is a country of opportunity. “We have a solid democracy, a continental dimension, and one language. If each of us believes more in Brazil, it’s not the government that’s changing the country, it’s us. The more entrepreneurs in Brazil push the train, hire people, take risks, and innovate, that’s It changes the country,” he said.

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