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How He Built the World’s Largest Digital Bank with 140 Million Customers

David Vélez, founder and CEO of Nubank, joins Patrick O’Shaughnessy to discuss how he built a bank serving 140 million customers and why he believes the $10 trillion banking industry is still in the earliest stages of disruption. They explore Nubank’s extraordinary growth, the advantages of digital-first banking, and how AI could fundamentally transform financial services by reducing costs and democratizing access to financial advice. David also shares his predictions for the future of cash, stablecoins, and global currencies, Nubank’s ambitious expansion into the United States and beyond, and how AI is reshaping the company’s internal operations. Finally, he reflects on the challenges of scaling a business, the differences between founders and CEOs, and what it takes to lead a company with ambitions to serve a billion people. TIMESTAMPS 0:00 Intro 1:25 Banking's $10 Trillion Disruption 5:54 AI's Impact on Banking 14:40 Building Moats in the AI Era 23:29 The Future of Money 36:01 Nubank's Global Expansion 41:53 Lessons from Amazon and Disney 48:24 Reinventing Nubank with AI 59:47 Founder Mindset and Leadership 1:13:18 Nubank's Future and Entrepreneurship Presented by Ramp: https://ramp.com/invest Sponsored by Vanta, WorkOS, Rogo, and Ridgeline: https://www.vanta.com/invest https://workos.com/ https://rogo.ai/invest https://www.ridgelineapps.com/ ****** Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc

David VélezguestPatrick O'Shaughnessyhost

Oct 13, 20261h 20mWatch on YouTube ↗

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EPISODE INFO

Released: October 13, 2026
Duration: 1h 20m
Channel: Invest Like the Best
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

David Vélez, founder and CEO of Nubank, joins Patrick O’Shaughnessy to discuss how he built a bank serving 140 million customers and why he believes the $10 trillion banking industry is still in the earliest stages of disruption. They explore Nubank’s extraordinary growth, the advantages of digital-first banking, and how AI could fundamentally transform financial services by reducing costs and democratizing access to financial advice. David also shares his predictions for the future of cash, stablecoins, and global currencies, Nubank’s ambitious expansion into the United States and beyond, and how AI is reshaping the company’s internal operations. Finally, he reflects on the challenges of scaling a business, the differences between founders and CEOs, and what it takes to lead a company with ambitions to serve a billion people. TIMESTAMPS 0:00 Intro 1:25 Banking's $10 Trillion Disruption 5:54 AI's Impact on Banking 14:40 Building Moats in the AI Era 23:29 The Future of Money 36:01 Nubank's Global Expansion 41:53 Lessons from Amazon and Disney 48:24 Reinventing Nubank with AI 59:47 Founder Mindset and Leadership 1:13:18 Nubank's Future and Entrepreneurship Presented by Ramp: https://ramp.com/invest Sponsored by Vanta, WorkOS, Rogo, and Ridgeline: https://www.vanta.com/invest https://workos.com/ https://rogo.ai/invest https://www.ridgelineapps.com/ ****** Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc

SPEAKERS

David Vélez
guest
Founder and CEO of Nubank, the large Latin American digital bank.
Patrick O'Shaughnessy
host
Host of Invest Like The Best and investor/interviewer.

EPISODE SUMMARY

In this episode of Invest Like the Best, featuring David Vélez and Patrick O'Shaughnessy, How He Built the World’s Largest Digital Bank with 140 Million Customers explores nubank’s playbook: branchless scale, AI intelligence, and global expansion David Vélez argued that consumer financial services remain in an early-stage shift from branch-based incumbents to digitally native banks, likening it to the early days of Netflix versus Blockbuster.

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