Eric Wei - Creating A Bank For The Creator Economy With Karat Financial

The Casey Adams Show

Listener.com Podcast Network

Business, Entrepreneurship

4.8 • 637 Ratings

🗓️ 5 April 2022

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's episode I sit down with Eric Wei, co-founder and CEO of Karat. There are more than 50 million creators in the creator economy with 3.2 million who consider themselves full-time, pulling in six-figure incomes. As creators continue to spin online content into legitimate businesses, Karat Financial aims to position itself as an indispensable resource where they believe traditional banks haven’t been. Wei, a former product manager at Instagram, started Karat with Will Kim, a former analyst for Goldman Sachs, as a way of giving content creators the financial resources they found traditional banks were denying them. Their inaugural product, the Karat Black Card, approves applicants based on their income and social-media followers rather than Fico scores. Also, the Karat Black Card’s rewards system offers customizable cash-back options based on a creator’s industry. Learn more about Karat: https://trykarat.com Follow Eric on Instagram: https://www.instagram.com/erictway/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

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0:00.0	Monarch, Legacy of Monsters, an Apple original series.
0:04.0	The world is on fire. I decided to do something about it.
0:09.0	On November 17th.
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0:13.0	Believe me.
0:15.0	The most massive event of the year arrives.
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0:24.7	Monarch, Legacy of Monsters.
0:27.1	Streaming November 17th, only on Apple TV Plus.
0:31.3	This episode is brought to you by Michigan Economic Development Corporation.
0:35.3	In Michigan, you can have both a rewarding career and a quality lifestyle,
0:39.1	with plentiful career opportunities in world-changing, innovating industries,
0:42.8	from electric vehicles to clean energy to biotech,
0:45.6	with room for advancement no matter where you are in your career.
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0:59.8	Welcome back to the Casey Adams show.
1:02.3	Today I am sitting down with a good friend of mine, Eric We, the co-founder of Carrot Financial.
1:09.0	Thanks so much for coming on the show, Eric.
1:11.8	Absolutely. Casey, thank you so much for coming on the show, Eric. Absolutely. Casey,
	...

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