Dave CEO, Jason Wilk: The Best Performing Fund Would Only Back YC Founders on Their Second Time

ℹ️ EPISODE INFO

Released

April 21, 2025

Duration

1h 1m

Channel

The Twenty Minute VC

Watch on YouTube

▶ Open ↗

📝 EPISODE DESCRIPTION

Jason Wilk is the Founder and CEO of Dave, the greatest turnaround in the public markets of the last 12 months. Dave went public with a market cap of $4BN, just months later the company had a market cap of $50M. Today, they are back with a market cap of $1.1BN. In 2024, CNBC named Dave the best-performing financial stock in the country, achieving 900% growth. ---------------------------------------------- In Today’s Episode We Discuss: 00:00 Intro 01:30 Do Rich Founders Make Better Founders 04:52 The Best Performing Fund Would Only Invest in YC Founders on Their Second Time 13:16 Why Did Jason Choose to SPAC? 15:36 “We Went Public Too Late, It Was a Big Mistake” 28:29 How Does AI Change the Margin Structure of the Next Generation of Companies 30:20 Are We Heading into a Recession? Predictions for Next 12 Months? 41:25 Why Have No Neobanks Reached the Heights of Revolut in the US? 51:50 Is Trump Better for Business than a Biden Administration? 48:08 Why is the Opportunity in Low Income Banking Not High Income in the US? 58:21 Why Short Sellers Should Be Stopped and How Immoral They Are ----------------------------------------------- Subscribe on Spotify: https://open.spotify.com/show/3j2KMcZTtgTNBKwtZBMHvl?si=85bc9196860e4466 Subscribe on Apple Podcasts: https://podcasts.apple.com/us/podcast/the-twenty-minute-vc-20vc-venture-capital-startup/id958230465 Follow Harry Stebbings on X: https://twitter.com/HarryStebbings Follow Jason Wilk on X: https://twitter.com/Jasonwilk Follow 20VC on Instagram: https://www.instagram.com/20vchq Follow 20VC on TikTok: https://www.tiktok.com/@20vc_tok Visit our Website: https://www.20vc.com Subscribe to our Newsletter: https://www.thetwentyminutevc.com/contact ----------------------------------------------- #20vc #harrystebbings #jasonwilk #ceo #dave #lessons #banking #ipo #spac

🎤 SPEAKERS

• Harry Stebbings

  host

• Jason Wilk

  guest

🧾 EPISODE SUMMARY

In this episode of The Twenty Minute VC, featuring Harry Stebbings and Jason Wilk, Dave CEO, Jason Wilk: The Best Performing Fund Would Only Back YC Founders on Their Second Time explores from SPAC Crash To AI-Powered Comeback: Dave’s Neobank Rebirth Story Jason Wilk, CEO and founder of neobank Dave, recounts the company’s dramatic arc from a $4B SPAC listing to a $50M “fallen angel” and back to a unicorn through ruthless focus and AI-driven profitability. He argues that second-time, capital-secure founders are disproportionately successful and that neobanks can be highly profitable when they target poorly served, lower‑income consumers with lean, tech-first models. The conversation dissects SPACs, preference stacks, going public, and the trade-offs between growth and profitability, as well as how AI has transformed Dave’s underwriting and support economics. Wilk also contrasts US and European neobanks, criticizes regulatory overreach, and lays out why he believes neobanks will increasingly disrupt legacy banks on both costs and credit.

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