Upstart

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• bullish assessment John Frankel

  I think that's a clever idea I think I think it's smart it's it's part of this enabling of Technology taking friction away

• bullish assessment Dave Girouard

  we think overhead we think it can be profitable at scale i mean it's it's it's the basis of lending club prosper

• bullish endorsement Dave Girouard

  jessica jackley just became an advisor to us the founder of the co-founder of kiva

• neutral fact_claim Dave Girouard

  and then we charge a half a percent annually to the backer on the amount invested

• neutral fact_claim Dave Girouard

  we keep three percent of the money that's uh raised at the front

• bullish prediction Unattributed

  this is the mother of all asset classes you know this is you know essentially the potential to securitize wages and income in the us in a way that can be enormously productive to the economy uh and so we think you know in fact the goal we have for the company that we've sort of loosely said is over a decade if we do this right we should be able to catalyze the creation of a million new businesses in the u.s

• bullish fact_claim Unattributed

  we make money like other crowdfunding platforms do we we keep three percent of money at origination and we have a half a percent fee we charge to backers annually

• neutral assessment Unattributed

  we're doing a fixed price model for now but there is definitely a future uh when the price can be set by the market

• bullish endorsement Unattributed

  our view is everybody has potential and to the extent you can measure it and identify it you can allow them to monetize it

• bullish assessment Unattributed

  this is a main street solution and i should say like our view is everybody has potential and to the extent you can measure it and identify it you can allow them to monetize it

• neutral assessment Unattributed

  when you're in a two-sided marketplace you have this like constant supply demand thing that almost anybody and then this type of business knows where they have to kind of grow in lockstep or else it just doesn't work

• bullish assessment Unattributed

  what we have seen signals of is i mean one of the upstarts say like you know god i really want to show those backers that this was a smart thing to do pride pride your loyalty you're you're on a public stage in some sense of like i joined this thing i took money from them the other thing is they they i found incredible sensitivity about not spending the money in it

• bullish assessment Unattributed

  we have to prove this business out in terms of scaling it up we want to get thousands of people funded the success stories need to come out and they are coming out meaning people are getting businesses off the ground they're getting to do things they would not have been able to do our repayments are good so far we have a hundred percent compliance on repayment so wow it's very early it's only a couple months in

• bullish prediction Unattributed

  we are looking for different ways to match funding from individuals who would bring it you know bring their own capital there to organizations or other types of institutions that could say we care about you know sustainability we care about teaching we care about entrepreneurs going into not-for-profit businesses so these are all ways that we think we can you know create more liquidity in the market

• neutral assessment Unattributed

  we're a private market solution we don't need money from the government we do need help from the government

• neutral prediction Unattributed

  we'll probably have that we're hoping it's two or three years down the road not next week

• bullish assessment Unattributed

  the social part of this product is really important you know we said from the beginning we're not wells fargo so when you have people some of which you might know and hopefully ones that you respect who have provided that capital and you've told them up front you know why you want the money what you intend to do with it i think the social pressure of really um doing the right thing is there

• neutral fact_claim Unattributed

  we don't decide who gets funded we we put you on the platform but then your you know backers have to in the same way that kickstarter does yeah the only the only difference is we are not an all or nothing platform so as long as you raise more than ten thousand dollars you can accept it um and then you set your own max based on how much you're willing to share

• neutral assessment Unattributed

  it's kind of a equity-like instrument but it has the flexible notion for people whose income stream may be unpredictable

• neutral fact_claim Unattributed

  the recipient uh has to repay for ten years but the only twist being if you have a year that you earn less than thirty thousand dollars you don't share anything

• neutral fact_claim Unattributed

  the the funding rate is how much can you raise today for one percent of your income and the that's anywhere from about four thousand dollars to about twenty thousand dollars

• neutral fact_claim Unattributed

  we're one part angelist one part kickstarter one part lending club uh even another part kiva

• bullish assessment Unattributed

  investing in somebody's income stream is actually has a far lower volatility and if you invest in say a whole bunch of people's income streams you start to look more and more like wages in the us

• bullish assessment Unattributed

  the return that we sort of plug into the formula if you will is about eight percent so that means if the people you back double a muni bond well yeah i mean we actually think it's an attractive sort of risk versus volatility profile

• bullish prediction Unattributed

  we do anticipate um hopefully in the next year that we're going to go through actually in fcc registration we would like to make this available to people who are not accredited

• neutral fact_claim Unattributed

  we have a formula that will statistically predict your income over the next 10 years and then we impute a return to your we turn that into today dollars by imputing a return to your backers

• bullish assessment Unattributed

  the notion is can we use data and algorithms to actually inject risk capital into the economy at massive scale billions and millions of dollars in handing it in in small bits to people who are statistically likely to do interesting things with it that's the hypothesis of the company

• bullish fact_claim Jason Calacanis

  boy have people invested in upstart people like the crunch fund mark cuban google ventures rick miner over there kleiner perkins new nea new enterprise and first round my good friend josh koppelman over there

• neutral fact_claim Jason Calacanis

  basically we're going to hear about it today but you can get a loan and then repay it back with a portion of your salary so people can invest in you

• bullish assessment Jason Calacanis

  so this is an all-star list of investors and a really unique idea from the guy who was the president of google enterprise that's all the google apps stuff so we got a really smart guy with a really great idea with a little bit of controversy it's going to be a great episode

• bullish assessment Jason Calacanis

  upstart is a i would almost say controversial but i think brilliant some people are wondering about this idea there's a lot of buzz about it

• bullish assessment Allie Janoch

  I think that there's a natural cadence of whenever we have a Democrat not in office we get a little bit more environmental regulation the Republicans might scale it back a little bit but there's some balance there yes in general we're moving towards a more regulated place

• bullish prediction Allie Janoch

  We're not selling to China right now but I'm sure in the future we will

• bullish fact_claim Allie Janoch

  they haven't so far affected our business because we're basically relying on Clean Water Act Clean Air Act stuff that's been in place since the 60s

• bearish fact_claim Brian Brakeen

  It's a fact yeah very scary I think China is this kind of dystopian future that we're worried about here

• bullish assessment Unattributed

  I'm an investor in a company called Aurora. Yeah, but that's Cameron. Yeah. Okay, Chris Chris is great and I I was friends with Chris at Google and uh and so that's a great example. So So, Chris was at Google. So, he was doing this. Something happened that caused him to feel like he needed to do it on his on his own and he's created 10 billion, 20 billion, 30 billion, who knows how much value doing and and so when the question the overall question is uh why doesn't Google why why didn't Google b

• neutral assessment Unattributed

  The only reason I thought that was a good bet with Tony and Matt and that team was they had done it before. Mhm. You know, if they hadn't done hardware before, that is a very difficult to do a hardware and software stack and manufacture and distribute.

• neutral fact_claim Unattributed

  I was on the board uh you know, and with there were scary moments when we were sort of shipping the the thermostats which were kind of leaving the factory. And I was on a board call and I said, 'Guys, what if like these things don't work? Like what if what if they get in everyone's house and like there's some glitch that's not software related, you know, that that happens? Like we're we're done.'

• bearish assessment Unattributed

  Also, those were those are software businesses in large part with YouTube has a hardware data center component, but Google is great at that. Yeah. Building things in the real world uh like making cars, Manufacturing. Yeah. that's a whole there's a reason why GM is great at making cars. It's very hard. Supply chains are really difficult. Yeah. I learned this with Nest. Like very very hard.

• neutral assessment Unattributed

  But then you look at YouTube and Android and both of those have changed the world and become I think those are different. I said those were much smaller startups run by their founders with who are very collaborative Chad and Steve and uh and uh and Rich and Andy and that team were interested in Google's platform as Google was growing itself.

• neutral fact_claim Unattributed

  It would have been 20 but it would have been 20 or 30 billion dollars. It would have been an incredible price when you think about it.

• bearish assessment Unattributed

  I would argue no. I would say that that that that would have been very challenging for Google to see it through all of those challenges and then to commit to Gigafactories and all the other things that Elon has committed to

• bearish assessment Unattributed

  it was not it was not Googley to do so.

• neutral assessment Unattributed

  I think cared more than startups need to and probably cared more than other companies did. I at the time at least, there was a very real to give the devil his due, a very real sense of responsibility around data, user data, how it's treated.

• bullish fact_claim Bill Maris

  we invested in a company called Upstart, which is, you know, 100X return.

• bullish assessment Unattributed

  for those unaware upstart is a phenomenally simple business their lending platform right lending money and they use AI to uh help people get better loan terms and so like your education and cost of living they basically try to project your credit worthiness ie like a fico swarm but they're using AI to do that went public in december of 2020 stock has gone up 8.6 times that amount crazy trading at 254 a share 20 billion dollar market cap they did 228 million in revenue in q3 which was up 3x right

• bullish endorsement Mark Minervini

  upstart's up about 25% just in four days since we, since we bought it, we bought it on, uh, about four days ago. Uh, so that's actually made a nice little move in the short term, probably a little extended right now, but longer term, uh, that that's a, that's a, a good looking, uh, name, uh, very powerful and very strong earnings.

1. 2028-03-20 We're not selling to China right now but I'm sure in the future we will · Prediction · pending