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Ayo Omojola

lines on the record: 60
first: 2023-05-14
most recent: 2023-05-14
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“You cash out, there's an instant option when you get a when you get a cash card, we issue your card to you instantly. When you sell stocks, money's available instantly. When you sell Bitcoin, money's available instantly. Like literally, there's no like, oh, circle, circle, circle, processing. It's like available to spend.”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“This is the thing I struggle with. I saw on Twitter somebody say this comment that a lot of times when people describe their success to you, what they're really saying is like, this is my lottery ticket number. So to be honest, before I go down this diatribe, I don't actually know which of things are replicable. I just know kind of what I believe to be true. And I'm trying some work, but some's not, et cetera. I think Cash As a team, we really cared about what we could do that was different and better What else existed in market. And for us, for a long time, it was Instant. And if you look at all the products, you'll see this sort of theme of like, you know”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“Of things, but at the time we didn't have pushed the debit. Venoma didn't have an instant, like for three or four years in the United States, the fastest and lowest cost way to move money in the country between any two people who had bank accounts was cash app. And I think that kind of changed in 2017 when PayPal, Venmo, Apple Cash, et cetera, kind of came out and launched all other things. And so I think actually it's possible that having done only one of those things while Cash App might have been successful. But I think the reason it's differentially successful in the market today is the compound effect of all those things.”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“The way Brian and Dustin and Jesse and Downgy tried to organize demon with Jack support was just really firewalled from the rest of Square. The hero customer was a consumer, not the merchant. So it was like, you know, literally in 100% of the trade-offs, the consumers' needs came first. And that's a very, very hard thing to do inside a company. It made people angry, actually. Really insane focus on design. incredible like depth in this is the thing that that i think you will appreciate but it's very hard to appreciate just like as a you know consumer of things people would be like hey what's the difference between you and venmo and the only reason you would ask that is if you just hadn't thought about it for a second now today there's like a lot of conversions on features like you know sort of memos sort of caught up on a lot of”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“My perspective is that And I think this is a Don't like this kind of answer. The thing Cash App did right was 10 things, not one. There were like 10 things that Actually, best in class, like insane talent density, insane focus, very strong at fraud, a lot of”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“So when I joined Cash App was probably sub 50K actives, like people moving money today, I think it's north of 50 million actives on a monthly basis with all different types of money movement like Bitcoin, P2P, card stocks. And I think it's something like... North of 70 or 80 million actives on an annual basis.”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, yeah, it exists. A lot of people use it. Like we have many big customers that you've heard of and like use. I won't say their names because I don't know if they want me to do that, but I would say there are a couple of large delivery tech companies that use us to mail 1099s, W2 forms, what have you”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“Which is live is like this printing a mailing API. So we build this thing called Mailform. I think it's like one of the top consumer print and mail things on the internet. Actually, I'm sure many people will listen to this. We'll have used it before. And then we had to figure out how to grow it. And this is the way that I actually learned how to do SEO was running around the internet, trying to find ways to tell people that we did this so that they would find us. We actually ended up like funny as it turns out. We ended up building a whole sort of SEO content infrastructure around it that has really impacted my thinking. But all the answers on Quora were me just trying to get people like, you know, if you remember like 2014, Cora was like this massive thing. So all the instruments on core were me trying to get people who might be thinking about the problem that we were solving to realize that we exist.”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“In 2015, I'd been a cash up for about a year. I had massive burnout from my last company. We went through IC, kind of like did a hard pivot, imploded a little bit, stuff kind of picked up, sold company eventually. And my brother, who's my co-founder and I had this idea. And I think it was actually from printing and mailing my Section 83B for something that I'd done. And I was like, why can't I just go on the internet and do this? And so I had this idea to build an application where you could give it a document and an address, and we would print an email for you. And it was right around when Lob was founded.”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source
“Cash app as a team, we really cared about what we could do that was different and better than what else existed in market. Being different is not enough because very easy to build a thing that's different from what exists today because you just have to look at what existing and build something else. Being better is not enough because it's also easy to say, hey, I'm going to make this thing better and just charge you more money for it. It has to be better than what it is today in a way that matters to the end user. And for us, for a long time, it was when someone says, hey, why are you better than Venno, I'd be like, try and send me a dollar that I can use now. And there was only one app you could do it with.”
2023-05-14 · Lenny's Podcast · Frameworks for product differentiation, team building, and thinking from first principles | Ayo Omojola (Carbon Health, Cash App) · IDENTIFIED FROM THE TRANSCRIPT · source