Can Nubank Win in the US? W/ Nubank Founder & CEO David Vélez

Yeah, because you're

kind of like...

When it comes to impact, you're kind of operational efficiency obsessed as a culture.

Like you've just launched in the US and I saw this crazy stat about there was like a basis point of the company's operational efficiency that was the budget for launch in the US.

So how do you think about launching in new countries and being efficient with that?

Smart efficiency is one of our five values as a company.

We're very much about culture, and the thing about efficiency and us being efficient about what we do is critical to sustain our first value, which is we want customers to love us fanatically.

And we didn't invent this.

I think Amazon sort of exemplified it very well, which is you need to grow to be more efficient.

So that

you can pass the efficiency to the customer of your better and better products.

And then create this flywheel that just accelerates with scale.

You grow to charge less.

You don't grow to charge more.

And so for us, that has always been a very important thing to do.

And I remember there are some stories on Nubank.

I remember in the early days that I would get mad at people that would be taking the elevator for one floor because we were wasting energy.

They could just simply take the stairs one floor.

It's like, why are you doing that? I'm the step count.

Think about the step count.

Exactly.

You're doing exercise.

Why are you taking the elevator one floor? Or are people printing in ink? I would get so mad.

Why are you printing in ink? It's like 10x more expensive than printing in black and white.

So efficiency has always been a big part of our business model.