>> WELCOME
>> BACK TO THE SHAKERS FRIDAY
ABOUT GO TO FEATURING GO.
>> BUT YOU NEED A CABLE
HAPPY MONEY WHICH CONNECTS
BORROWERS WITH CREDIT LENDERS
HAS RAISED $70 MILLION BRINGING
ITS VALUATION TO NEARLY HALF A
BILLION DOLLARS. SCOTT SAUNDERS
FOUNDER AND C.
OF THE COMPANY JOINS US BEFORE
YOU INTO THIS I LOVE THAT
SWAGGER HAPPY MONEY ASCOT WHAT
IS HAPPY MONDAY.
>> A PERSONAL HIKERS AND I OWE
A HAPPY WEDNESDAY FROM HOW THE
MONEY. MONEY IS
ALL ABOUT TOOLS AND SERVICES
FOR
HUMAN HAPPINESS AND HELPING
BARS BECOME SABERS. I MEAN
BASICALLY THE
PROBLEM IS WE'VE GOT A LOT OF
THAT TRILLION DOLLARS IN CREDIT
CARD DEBT, COUPLE $100 BILLION
IN PERSONAL LOAN DEBT.
YOU KNOW WHAT HALF TRILLION IN
STUDENT LOAN DEBT AND A LOT OF
A NEW AD
FRANCE INTO THE CREDIT CARD
BUSINESS WHETHER BANKS TO LG
COMPANIES AIRLINE COMPANIES AND
YOU KNOW THROUGH OUR OWN
RESEARCH. WHAT
WE'VE SEEN IT'S ABOUT A 3RD OF
MILLENNIALS HAVE THE EQUIVALENT
OF PTSD LIFE SENTENCE FROM
THEIR FINANCES. AND THAT IS SAD
MONEY PEOPLE STRESS AND THAT'S
VERY SAD
AND SO OUR MISSION IS ABOUT
HELPING BARS BECAUSE THEY ARE.
>> IT'S OK I LIKE THAT A LOT
AND HOW DOES THIS THOUGH DIFFER
FROM LIKE A TRADITIONAL KIND OF
WONDER RIGHT.
>> WELL LOOK LENDERS ARE IN THE
TO PUT MORE DEBT INTO THE WORLD
WE'RE IN BUSINESS TO TAKE THAT
OUT OF THE WORLD AND SO IT'S A
FUNDAMENTALLY DIFFERENT WORLD
VIEW. WE'RE MAKING LOWER
INTEREST RATE LOANS TO HELP
PEOPLE ELIMINATE HIGH INTEREST
RATE CREDIT CARD DEBT, FASTER
AND CHEAPER AND WE'RE DOING IT
WITH A NATIONAL NETWORK OF
CREDIT UNION PARTNERS I MET
WITH ONE OF THE MEMBERS
RECENTLY NEW YORK
AND SHE WAS TELLING THE STORY
NOT OVER 5 CREDIT CARDS AND
MAKING HER
MINUTE PAYMENTS AND YOU KNOW
WHEN SHE CAME TO HAVE THE MONEY
AND GOT A LOAN SHE WAS ABLE TO
PAY $20 MORE THAN HER MINIMUM
PAYMENTS, BUT PAY OFF IN 4
YEARS INSTEAD OF 25 YEARS.
>> RATES ARE SUCH A BIG FOCUS
FOR THE OVERALL MARKET RIGHT
NOW SKY IF RATES TO
GO LOWER NEXT WEEK RIGHT WHEN
THE FED DOES MEET HOW DOES THAT
AFFECT YOUR COMPANY AND THE
RATES STAY IN CHARGE.
>> RACE ARE CONNECTED TO COST
OF CAPITAL AND WITH OUR
FINANCIAL PARTNERS IF IF IF
RATES GO DOWN THEN WE CAN FOR
LOWER COST OF CREDIT TO OUR TO
HELP THEM PAY OFF THEIR DEBT.
>> MORE QUICKLY.
>> OK AND THAT IS OF COURSE
VERY IMPORTANT AT THE TIME
BECAUSE THAT ALSO AFFECTS OF
THE OVERALL PICK AND THE
INTEREST AS WELL.
SO RIGHT NOW YOU
BEEN AROUND FOR YOU KNOW 10
YEARS AND WE ARE STILL IN THIS
BULL MARKET, SO YOU REALLY
BENEFIT, I'M SURE A LITTLE BIT
FROM THIS WHAT IS
YOUR PLAN IF THERE IS
POTENTIALLY WITH A BIG P LITTLE
ARE RECESSION.
>> WELL WHAT I WOULD SAY IS
ACTUALLY WE'VE BEEN FIGHTING
AGAINST THE TIDE BECAUSE AS THE
LOWS AND
THAT RISING HAVEN'T BEEN AS
INTERESTED IN PAYING OFF THEIR
DEBT. WHAT HAPPENS IS IN
RECESSION. YOU'VE GOT
A MUCH GREATER PERCENT OF
THE MARKET IT IS TO PAY OFF ITS
DEBTS IF YOU GO BACK TO THE
GREAT RECESSION. THE 2008 2014.
$100 BILLION IN SUPER CREDIT
CARD THE LEVERAGE SO I WAS A
WORKOUT FIGHTING A
HEADWIND ACTUALLY WE HAVE GOT A
BILLION DOLLARS IN LOANS TO
HELP PEOPLE IN IT THAT AH, BUT
IT'S A VERY CONTRARY. A MESSAGE
IN IT IN A WORLD WHERE EVERYONE
IS
PUSHING GET IN A WORLD WHERE
YOU KNOW THERE'S RECESSION
IN VOLATILITY. BACK THEY WANT
TO YOU KNOW SPEND LESS THEY
WANT TO SAVE MONEY THEY WANT TO
PAY OFF THEIR CREDIT CARDS AND
SO YOU KNOW THE RECESSION,
THERE SIR IT WILL BE BOARD ALL
BUT THE MACRO THEME OF HELPING