How a New Anti-Woke Bank Stumbled

[Rozay Oro]

Change thread title to Anti Black
Woke just another dog whistle
If they want to fight liberalism then those hypocrites can use the proper term.

 

[Kiyoshi-Dono]

 

[Rozay Oro]

When he get a show?

 

[east]

WSJ News Exclusive | CEO of Anti-Woke Bank Startup GloriFi Resigns

Toby Neugebauer stepped down as CEO following a Wall Street Journal article detailing the company’s turbulent start.

www.wsj.com

no paywall: archive.ph/y16Zo

 

[thelonious21]

They didn’t factor in that the base they were trying to appeal to are broke as fukk and the biggest recipients of welfare.

That part!

Like.. who the fukk were they trying to exclude? Black people? The pitch of the bank sounds like some ole parler website mission statement.

The fact they got hundreds of millions of investments is even crazier and scary.

 

[Geek Nasty]

Savings and Loan

We make money the old fashioned way, on a nikkas back.

 

[duck]

"for instance, a plan to make a credit card out of the same material used for shell casings failed when the company realized the material could interfere with security chips and potentially be too thick for payment terminals, according to people familiar with the matter."


Bruh, who comes up with this shyt?

 

[Luke Cage]

had no idea a bank could be woke

 

[boskey]

This really is the scammer era

This is lowkey the same as the crypto industry. A bunch of half baked political theories designed to trick you out of your money...

 

[bnew]

Candace Owens-Endorsed "Anti-Woke" Bank Dies A Hilarious Death

How can you not laugh at people who thought this grift would work?

www.theroot.com

Candace Owens-Endorsed "Anti-Woke" Bank Dies A Hilarious Death​

How can you not laugh at people who thought this grift would work?​

By
Keith Reed

Published 3 hours ago

Right wing commentator Candace Owens was listed as a co-founder and endorse GloriFi, a fintech company that failed spectacularly after launching only in September.

El Em Ay Oh.

Rarely would I take the occasion of a business’s failure to dunk on the entrepreneurs behind the idea. I started my career, after all, as a business reporter, spending days chronicling the success and failure of their ideas, which tend to be tied to the well-being of their families. Likewise, a number of my friends are entrepreneurs who will tell you on any given day how hard it is out here when you put your own cash, time and passion into trying to make a business work. I respect that hustle more than any other, but just not on tuh-day.

Today, I can’t think of a better reason for a hysterical laugh than the failure of a Candace Owens-backed startup called “GloriFi”, which was marketed like a “bank” but in the fine print actually said that was “a financial technology company, not a bank.” GloriFi promised checking and savings accounts and debit cards for conservatives, whose money, I suppose, spends differently than everybody else’s, because: ‘Murica. The company raised millions in startup capital from billionaire right-winger Peter Thiel and others before it went live in September.

The problem is that GloriFi was so concerned with pushing a culture-wars narrative that it forgot that banks in startup mode are supposed to be focused primarily on one thing: offering attractive rates on deposits to bring in new customer accounts and to be able to expand to more products like car loans and mortgages. Instead, GloriFi, was too focused on convincing potential customers that by doing business there, they’d be owning the libs. Rolling Stone reported on the company’s insane pre-launch marketing this way:

Pitching itself as a financial institution that allowed one to be “free to celebrate your love of God and country without fear of cancellation,” GloriFi’s marketing read more like a campaign ad than an enticing APR offer on a new credit card. Highlights from the “about us” page include: “OUR BILL OF RIGHTS IS NON-NEGOTIABLE” and “WE ARE ONE NATION UNDER GOD.”

In its short tenure GloriFi, managed to launch checking and savings accounts as well as credit cards, with plans to offer mortgages and insurance in a future that will no longer take place. Founder and CEO Toby Neugebauer pitched plans to offer gun owners discounts on home insurance, credit cards made of shell casing material, and assistance paying legal bills if customers shot someone in self-defense.

Not exactly a solid pitch for consumer financial services when inflation and interest rate hikes are in full effect. In the end, GloriFi’s pitch to customers was as ineffective and overblown as the campaigns Republicans expected to carry them to a red wave in the midterms. In politics, the right bet that voters would ignore its lack of a plan to tackle inflation or crime, the fact that it wants to ban abortion, undo Affirmative Action and kill student loan forgiveness in favor or rehashed arguments about the 2020 election. In the banking business, right wing investors thought consumers would ignore a fundamentally flawed business plan and some horrific tales about GloriFi’s management team as long as the company whispered sweet nothings about God and guns and fReEdUmB!

People saw right through and rejected both grifts.

GloriFi’s public web site is now just one page, filled with the salty tears of grievance and instructions for how its few customers can retrieve whatever funds they had in their accounts.

Maybe they can take those deposits and buy more guns as Christmas gifts.

 

[bnew]

 

[AquaCityBoy]

Go (anti-)woke go broke

 

[Geek Nasty]

Financial

"We crunch the figgas with no nikkas"
"Only thang black in the customer wing is our ledger balance "

 

[Family Man]

had no idea a bank could be woke

ESG scores.

 

[Wild self]

Son, how white people been acting after Trump lost in 2020 is hilarious, to say the least!

An "Anti-woke" bank that had tens of millions of dollars of funding, and still collapsed???