Alex Rampell: preference

Transcript context

…Our Head of Risk, Sri Srinivasan, he's amazing, came from Capital. We had the same boss 10 years apart, actually in some sense. And all the Heads of Risk for all modern fintechs that came from Capital One. Well, because it's one of these things where you know that you don't want to just hire for intercept, you want to hire for slope. And this is the problem. You find… Not to pick on Bank of America or Chase or somebody, but it's like, alright, this person clearly knows how to do their job. The bank that they work in is worth a lot of money. But they don't necessarily have, how do I put this delicately, the slope. They won't know what that means because they don't know what slope means. But seriously, the guy that we hired just so he was very, very smart. And that was the key thing about Capital One is that they didn't hire banking people. They just hired smart people. And it became known as the place where smart people went. And actually the fact that companies would poach people from Capital One actually added to the allure. It's like, I want to work at McKinsey because at the end of McKinsey, I'm going to get a better job somewhere else. Capital One actually had, it did have that. And I think part of it is that it's the only founder-led institution. Last question, Eric. We're talking about banking here. You have a treasury product. In five years. Where do businesses keep their money? Is it with, I mean statistically mostly you mentioned 2% on Ramp. It's even higher today in traditional banks like a Chaser Bank of America. There's also neobanks, the bank-like entities like Mercury or Revolut or Monzo or things like that. There are companies like Ramp where you started in spend cards, but maybe moving more into treasury. How do you think that shakes out as a market?…

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