Jared Kaplan - CEO Interview - OppFi

What this episode covers

First and foremost, Bill owns stock in OppFi.  This episode is not an invitation or solicitation to buy or sell shares in FGNA, the entity that OppFi is merging with in a SPAC transaction.  Second, The Business Brew and Bill encourage listeners to do their own due diligence and talk to their financial advisor before purchasing or selling shares in any security. With that said, Bill wanted to interview Jared because OppFi sits at the intersection of many Business Brew episodes.  To begin, FGNA is taking the company public via SPAC (See Andrew Walker's episode for a discussion on SPACs).  Next, Mike Mitchell, our first guest, introduced Bill to Kyle Cerminara, a recent guest, who is part of the group taking OppFi public.  Finally, OppFi would have never passed Bill's "smell test" if it wasn't for Tyrone V. Ross' episode where Tyrone talked about the need for serving the underbanked. In the interest of complete transparency, Bill does not have a significant portion of his net worth allocated to OppFi.  Instead, OppFi is part of a "basket bet" Bill made on Kyle Cerminara.  Within that bet, Bill finds the incentives of all the people involved compelling.  That said, Bill has not done enough work, nor is he convinced enough on OppFi's prospects, to make OppFi a significant weighting in the portfolio. For the avoidance of doubt, this podcast interview is biased and is part of an open source due diligence project.  Bill may change his mind at any time and does not commit to letting people know when he does so. We hope you enjoy the episode.

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