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How to Lend Money to Strangers

Zero interest Zero fees Zero new credit, with Alex Forsyth-Thompson (Float)

How to Lend Money to Strangers

Brendan le Grange

Credit, Fintech, Management, Lending, Banking, Business, Careers

52.6K Ratings

🗓️ 18 April 2024

⏱️ 29 minutes

🧾️ Download transcript

Summary

“Buy now and pay in up to 24 monthly instalments using your existing credit card.​ Zero interest. Zero fees. Zero new credit.” With copy that good, you might not actually need to listen to this week’s episode 😉 But please do, it’s a really good one as we hear first hand from one of South Africa’s most exciting new fintech founders.



Float is all about taking a payment tool that you already know and love, stripping away the cost, to providing cash flow management that enables spend without an unnecessary expansion of unsecured credit.



Float is at home at https://www.float.co.za/



And on social media at https://www.instagram.com/float.co.za/ and at https://www.linkedin.com/company/floatcoza/



Or reach out to Alex directly at https://www.linkedin.com/in/alex-forsyth-thompson-cfa-cfp%C2%AE-6b42a75a/



If you’re interested in Guy Kawasaki’s new book, you can buy it here: https://guykawasaki.com/books/think-remarkable/ (or at any online bookstore)



I'm on LinkedIn and always open to new genuine connections - https://www.linkedin.com/in/brendanlegrange - please do reach out, and follow the show's page, too



Meanwhile, my action-adventure novels are on Amazon, some versions even for free, and my work with ConfirmU and our gamified psychometric scores is discussed at https://confirmu.com/ and on episode 24 of this show https://www.howtolendmoneytostrangers.show/episodes/episode-24



And finally, I'm also co-creating a new podcast called hAIghtened senses which will look at the intersection between human senses and technology, especially AI-powered technology. You can already start to follow it wherever you're listening to this one - there's only a trailer there at the moment, but we've recorded some of the early episodes and it's going to be a fun ride!



Keep well, Brendan




Hosted on Acast. See acast.com/privacy for more information.

Transcript

Click on a timestamp to play from that location

0:00.0

You know I could always have a corporate career and made sure that I finished the charters and all those sorts of things, but I knew I would end up in entrepreneurship at some point.

0:08.0

It was not a doubt in my mind.

0:10.0

The advent of float was this whole bina I'll pay later craze was exploding was very excited about the prospects of this business model

0:18.0

But at the same time the last thing South African needs is just more insecuresecured credit being piled on top.

0:23.6

This isn't Australia, it isn't Sweden.

0:26.1

So I did take that to heart and looking into the binary pay later space,

0:30.3

realize that in Latin America, point of sale, interest-free installments have been

0:34.9

there for ages. In those markets it's done very much off the back of a credit card and

0:39.6

our view is that credit cards are the best cash flow tools available to consumers if used correctly.

0:47.0

The point of float is to help people to use it in the best way possible. When I did my MBA back in 2007, it included an overseas trip.

1:02.0

I went with a group going to the US to explore the

1:05.0

startup scenes in Seattle, Palo Alto and New York. At the midpoint of that

1:10.0

adventure we had the opportunity to meet with Guy Kawasaki who we had known about from

1:15.0

entrepreneurship and innovation lectures. I think the art of the start is still somewhere

1:20.0

on my bookshelf but in person he is even more charismatic. So ever since I've always

1:25.8

kept an eye out for his books and his talks and more recently his podcast, Remarkable

1:31.2

People. You'll find that where if you're listening to this one but even better news is that he's

1:36.6

just released the Think Remarkable book.

1:40.2

It's a distillation of the lessons learned from his incredible lineup of guests.

1:45.7

I've just started listening to it and already as I was recording this episode,

1:50.2

I've had a chance to see some of its lessons play out in real life.

1:54.0

Order Guy's book, read it, and then think about Alex's early career

...

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