YouSaid · the spoken record

Mike Cagney

lines on the record: 106
first: 2016-02-08
most recent: 2016-02-08
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

“Well, I'd always been entrepreneurial well, so I created the derivative business there and grew that as part of the capital markets effort and to a very meaningful portion of the bank. And it was clear to me that there was only so much you could do within that organization. And it was really the opportunity to go out and do something on my own, have my own stake in it and build something out.”
2016-02-08 · Decoder with Nilay Patel · Recode Decode: Mike Cagney, CEO, SoFi · IDENTIFIED FROM THE TRANSCRIPT
“Was not enough. Yeah, no, not definitely not. And so I decided that I needed to take a shot at the time. This was before the crash had happened in 2000. And so I remember Fast Company was writing an article about how to pick the right VC as if there's a 25 that want to fund your company that you can go through and actually determine who the best connection is. Obviously, once we started the company, the crash hit in 2000, and so it was very dynamic. Yes, one of the worst market timing events I've ever had.”
2016-02-08 · Decoder with Nilay Patel · Recode Decode: Mike Cagney, CEO, SoFi · IDENTIFIED FROM THE TRANSCRIPT
“Well, fortunately, I wasn't doling out the 20s, but it's a great question. And the honest answer, my wife had gone into the technology universe and was number four at a company that had rocketed to an IPO. And she asked me at what point I was going to do something meaningful for the family. So I decided.”
2016-02-08 · Decoder with Nilay Patel · Recode Decode: Mike Cagney, CEO, SoFi · IDENTIFIED FROM THE TRANSCRIPT
“Horrified with me. Well, I can understand you what didn't work and where there was opportunity to make change. And so in 2000, I left to do my first startup, which was a wealth management. Can I ask a question?”
2016-02-08 · Decoder with Nilay Patel · Recode Decode: Mike Cagney, CEO, SoFi · IDENTIFIED FROM THE TRANSCRIPT
“Well, I started back in 1994 at Wells Fargo, and so I like to refer to myself as a reform banker. But I spent four years there running proprietary trading and other things for the bank and got a great appreciation of financial services out of that experience, but also an understanding of what I was doing.”
2016-02-08 · Decoder with Nilay Patel · Recode Decode: Mike Cagney, CEO, SoFi · IDENTIFIED FROM THE TRANSCRIPT
“Well, I think we're having a pretty big impact in the market. I think that our value proposition has begun to be very well received and we have over 115,000 members today and growing about 15,000 to 20,000 a month. So it's getting out there.”
2016-02-08 · Decoder with Nilay Patel · Recode Decode: Mike Cagney, CEO, SoFi · IDENTIFIED FROM THE TRANSCRIPT