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We are excited to sit down with Sara Choi, Partner at Wing VC! Prior to Wing, Sara co-founded the mobile data company Airfox. Since 2019, Sara has dedicated her efforts to investing in early-stage companies operating at the intersection of bio and data. During this episode, we discuss raising VC capital (versus not), the impact of a thematic focus, and the future trajectories of drug discovery.Episode Chapters: The American Dream - 1:15Founder Journey X 2 - 5:33Day 1 at Wing VC - 8:10Entry Stage Valuations - 12:55Sector Specialization - 14:30Data's Impact on Biology - 19:04Sourcing Superpower - 23:43VC Office Hours - 26:50Drug Development - 28:37Healthcare with Employers - 36:21Ending Questions - 39:10As always, feel free to contact us at partnerpathpodcast@gmail.com. We would love to hear ideas for content, guests, and overall feedback.
Welcome to another episode of Action and Ambition. Sara Choi, a Partner at Wing, where she invests in companies at the intersection of bio x data, is our guest on today's episode. Sara was the co-founder and COO of Airfox, a mobile data platform that ViaVarejo acquired (BSP: VVAR3). Sara was the Head of Product at Ciao Telecom before creating Airfox, co-founding a new cellular provider. Learn more about Sara's stealth mode investments and her experience bringing her skills in data to healthcare and the life sciences in this episode.
Interview with Victor Santos, CEO of Airfox
Google, eBay, Tesla, Yahoo, AT&T: These companies were all founded, completely or in part, by immigrants -- who also account for close to 30 percent of all new entrepreneurs in the U.S., the highest share in 20 years. Victor Santos, who emigrated from Brazil at age 12, is one of them. Santos launched Airfox, a mobile financial services company for individuals in emerging markets, and he's also a DACA recipient. While fundraising, Santos had to grapple with how many investors view immigrants.
Google, eBay, Tesla, Yahoo, AT&T: These companies were all founded, completely or in part, by immigrants -- who also account for close to 30 percent of all new entrepreneurs in the U.S., the highest share in 20 years. Victor Santos, who emigrated from Brazil at age 12, is one of them. Santos launched Airfox, a mobile financial services company for individuals in emerging markets, and he's also a DACA recipient. While fundraising, Santos had to grapple with how many investors view immigrants.
Never miss another interview! Join Devin here: http://bit.ly/joindevin. Using blockchain technology and data science, Victor Santos, the CEO and co-founder of Airfox, is working to improve financial inclusion for the 1.8 billion people living on the planet without access to traditional banking services--a prerequisite to truly emerging from poverty. Interview with Victor Santos, the CEO and co-founder of Airfox. The following is the pre-interview with Victor Santos. Be sure to watch the recorded interview above. We’ll be discussing Financial inequality: Low-income individuals constitute the majority of the “unbanked” who do not have accounts at deposit institutions and lack access to mainstream financial services. Globally, 1.7 billion adults remain unbanked. These people often have no choice but to rely on high-fee payday lenders, check-cashing stores, and other expensive alternatives to manage their money. with Victor Santos. Click the following link to learn my insider secrets to media publicity for social impact: http://bit.ly/75offmedia.
In a fireside chat I moderated with SEC Commissioner Hester Peirce held by the Blockchain Digital Asset Forum, in conjunction with the NYU Stern Executive MBA program, on March 26, 2019, she explained where her reputation as 'Crypto Mom' comes from — a desire to look at the world with fresh eyes and say, are there things we can do things better? We also discussed a Bitcoin ETF and the prospects for one after Bitwise released a report showing a health legitimate market, as well as initial coin offerings and what will happen to the hundreds of ICO issuers that had initial coin offerings that look much like the ICOs that have already had enforcement actions against them. She described the process that occurs when something like an application for a Bitcoin ETF is submitted to the SEC, whether or not there's a lot of disagreement amongst the commissioners about how to regulate crypto, how much they work to persuade each other to come over to their side and whether Chairman Jay Clayton's opinion overrules everyone else's or whether majority rules. Plus, we covered dexes, stablecoins and security tokens. View the full show notes on my Forbes page: http://www.forbes.com/sites/laurashin/2019/04/02/sec-commissioner-hester-peirce-on-why-you-shouldnt-have-to-be-rich-to-get-rich/ Thank you to our sponsor! CipherTrace: http://ciphertrace.com/unchained Episode links: SEC Commissioner Hester Peirce: https://twitter.com/HesterPeirce SEC: https://www.sec.gov Event link: https://www.eventbrite.com/e/fireside-chat-with-sec-commissioner-hester-peirce-and-laura-shin-tickets-58327939437 Hester's dissent to the Bitcoin ETF disapproval: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 Bitwise's report: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf SEC enforcement action against Munchee: https://www.sec.gov/litigation/admin/2017/33-10445.pdf SEC enforcement action against Paragon: https://www.sec.gov/litigation/admin/2018/33-10574.pdf SEC enforcement action against Airfox: https://www.sec.gov/litigation/admin/2018/33-10575.pdf SEC enforcement action against Gladius: https://www.sec.gov/litigation/admin/2019/33-10608.pdf Speech by William Hinman, SEC director of the Division of Corporate Finance, on ether not being a security: https://www.sec.gov/news/speech/speech-hinman-061418 Token Taxonomy Act: https://www.congress.gov/bill/115th-congress/house-bill/7356 Unchained episode with CZ: https://unchainedpodcast.com/how-binance-became-the-most-popular-crypto-exchange-in-5-months-ep-84/ SEC enforcement action against Zachary Coburn of EtherDelta: https://www.sec.gov/litigation/admin/2018/34-84553.pdf DTC report on blockchains for securities: http://www.dtcc.com/news/2019/march/13/dtcc-outlines-guiding-principles-for-post-trade-processing-of-tokenized-securities Thank you to Lawson Baker at TokenSoft (disclosure: a previous sponsor) for helping me think through some of the issues for this episode.
In a fireside chat I moderated with SEC Commissioner Hester Peirce held by the Blockchain Digital Asset Forum, in conjunction with the NYU Stern Executive MBA program, on March 26, 2019, she explained where her reputation as 'Crypto Mom' comes from — a desire to look at the world with fresh eyes and say, are there things we can do things better? We also discussed a Bitcoin ETF and the prospects for one after Bitwise released a report showing a health legitimate market, as well as initial coin offerings and what will happen to the hundreds of ICO issuers that had initial coin offerings that look much like the ICOs that have already had enforcement actions against them. She described the process that occurs when something like an application for a Bitcoin ETF is submitted to the SEC, whether or not there's a lot of disagreement amongst the commissioners about how to regulate crypto, how much they work to persuade each other to come over to their side and whether Chairman Jay Clayton's opinion overrules everyone else's or whether majority rules. Plus, we covered dexes, stablecoins and security tokens. View the full show notes on my Forbes page: http://www.forbes.com/sites/laurashin/2019/04/02/sec-commissioner-hester-peirce-on-why-you-shouldnt-have-to-be-rich-to-get-rich/ Thank you to our sponsor! CipherTrace: http://ciphertrace.com/unchained Episode links: SEC Commissioner Hester Peirce: https://twitter.com/HesterPeirce SEC: https://www.sec.gov Event link: https://www.eventbrite.com/e/fireside-chat-with-sec-commissioner-hester-peirce-and-laura-shin-tickets-58327939437 Hester's dissent to the Bitcoin ETF disapproval: https://www.sec.gov/news/public-statement/peirce-dissent-34-83723 Bitwise's report: https://www.sec.gov/comments/sr-nysearca-2019-01/srnysearca201901-5164833-183434.pdf SEC enforcement action against Munchee: https://www.sec.gov/litigation/admin/2017/33-10445.pdf SEC enforcement action against Paragon: https://www.sec.gov/litigation/admin/2018/33-10574.pdf SEC enforcement action against Airfox: https://www.sec.gov/litigation/admin/2018/33-10575.pdf SEC enforcement action against Gladius: https://www.sec.gov/litigation/admin/2019/33-10608.pdf Speech by William Hinman, SEC director of the Division of Corporate Finance, on ether not being a security: https://www.sec.gov/news/speech/speech-hinman-061418 Token Taxonomy Act: https://www.congress.gov/bill/115th-congress/house-bill/7356 Unchained episode with CZ: https://unchainedpodcast.com/how-binance-became-the-most-popular-crypto-exchange-in-5-months-ep-84/ SEC enforcement action against Zachary Coburn of EtherDelta: https://www.sec.gov/litigation/admin/2018/34-84553.pdf DTC report on blockchains for securities: http://www.dtcc.com/news/2019/march/13/dtcc-outlines-guiding-principles-for-post-trade-processing-of-tokenized-securities Thank you to Lawson Baker at TokenSoft (disclosure: a previous sponsor) for helping me think through some of the issues for this episode.
Accredited Investor? Check Out Our Syndicates: Link to Syndicate Page DACA recipient, Berkeley grad, and a Googler, Victor Santos is not a typical startup founder. His Boston-based startup, Airfox is addressing a huge problem: access to affordable financing in Latin America. Through a partnership with one of Brazil’s leading retail lenders, Airfox is able to gather data that enables lower-cost lending in a country where consumers routinely pay interest rates of 400% per annum. Highlights from the interview include: Airfox seeks to accelerate financial inclusion in developing markets. Focus for next three years is Brazil. Imagine your neighborhood bank being a payday lender; 50% of population use only cash. Airfox mobile app acts as free banking simplifying user’s life. As data builds on app, Airfox creates an alternative credit profile and user can take micro loans. Scalable sub-prime lending at more affordable rates. Via Varejo, Brazil’s biggest retailer to low-income people, with 1,000 stores gives Airfox great reach. Retailers make money from financing. Via Varejo has $1 billion consumer loan portfolio. Attractive to Via Varejo because it simplifies their operation which now uses coupon books for payments. Brazilian banking system has advanced features but average consumer has limited access. Brazil’s world-class central bank has opened up to fintech companies but traction is still limited. Victor left Google because he did not want to be working in advertising. Time at Google served to show Victor what it’s like to work at a big company. Was COO of failed startup, determined to found his own company where he could control the direction the company took. Also wanted to bring some type of utility to the end consumer. First instance of Airfox provided software to cellular carriers that made it easy for them to give free data plans to low-income users who opted into receiving ads. Three carriers signed up with 2,000,000 users. Sal asks listeners to leave a rating or a review on iTunes. Victor Santos tells about the major pivots Airfox executed. Airfox’s solution created real value for carriers in terms of increased retention of users. Carriers were frustrating to work with, slow to adopt system that could address massive user churn of 8 to 12% per month. Airfox realized user data could be the key to providing funding to users. Decided to look for way to go direct to consumer. Victor saw an opportunity to apply what they had learned in the cell phone business to the Brazilian market that was being de-regulated by the Central Bank. Contingent life of middle-class Brazilians. Airfox’s digital wallet will be offered through Via Varejo’s 1000 stores. Via Varejo sees Airfox as a way to grow their lending and decrease defaults. With launch of debit card in Q1 Airfox will become a full digital bank for consumers. AirFox brand name will have to change because the name has less than great associations for consumers. Via Varejo’s equity stake reassures the retailer that it will continue to benefit as Airfox’s credit business expands. Comparison with Amazon Pay in India. Advice for fundraising, make sure investors understand how your vision of social change will pay off in terms of profits to the company. Via Varejo has a two-year call to buy 80 percent of Airfox. How angels took that. A call option is a right to buy at a certain price. On cap table have Techstars, Project 11, Launch Capital, Boston Seed and One Way Ventures. Victor came to the US at age 12. Parents were entrepreneur by necessity not by choice. Primed Victor to think about entrepreneurship. Experience with startup in Silicon Valley confirmed in Victor’s mind he wanted to start a company. Immigrants have to be scrappy and resourceful, prepares you to be an entrepreneur. Brazil’s economic dichotomies. Airfox’s consumer loans are 13 to 26 percent per year vs. 400 percent in other places. Victor advises founders to determine what are the principals that underlie their company. Handy in difficult time to know what you stand for. Company values from the A-Team & Ray Dalio.
Simon's in the studio with Adi Ben Ari, Founder of Applied Blockchain. First up, the SEC settles Securities Registration charges against 2 ICO startups. The SEC’s announcement centred on two firms: CarrierEQ Inc., also known as Airfox, and Paragon Coin Inc., both of which conducted token sales last year. Airfox raised $15 million through its sale, while Paragon raised $12 million. After Friday’s SEC actions, experts say ICO party ‘Is truly over’. U.S. regulator stated that “there is a path to compliance with the federal securities laws” for startups issuing tokens, even if “issuers have conducted an illegal unregistered offering of digital asset securities” already. Firm tied to cryptocurrency entrepreneur faces SEC investigation. Securities regulators are investigating Salt Lending Holdings $50 million cryptocurrency sale. The company, which loans money to people using their cryptocurrency as collateral, received a subpoena from the SEC in February seeking records related to a $50 million digital-token sale it held last year, the people familiar with the matter said. Crypto’s Too Expensive? Binance Sent $600 Million in Bitcoin for Just $7. The transaction in block 550211 was a transfer of just over $1 million. For this transaction, Binance paid just over $8 in fees. Another transaction, $600 million at the time it was sent, made it the largest unspent transaction output existing to date. Shell and BP back blockchain platform to modernise commodities trading. Oil industry giants Shell and BP are among a group of firms planning to launch a blockchain platform to automate post-trade processes in the energy industry by the end of 2018, consortium building the platform is called VAKT Global. Deloitte Blockchain Chief: Bad Crypto Headlines Making Clients ‘Nervous’. "Can we stop talking about my bad brother?” That’s how Linda Pawczuk, leader of Deloitte Consulting’s financial services industry blockchain group, describes the conversations she often has these days with executives and board members of client companies. Kraken credits clients with Bitcoin SV (BSV) and launches BSV Trading. The recent Bitcoin Cash hard fork resulted in two (for now) viable chains: Bitcoin Cash (following the Bitcoin Cash ABC protocol and roadmap published by bitcoincash.org) Bitcoin SV (following the Bitcoin Cash SV protocol and roadmap published by nChain) WARNING: Bitcoin SV does NOT meet Kraken’s usual listing requirements. It should be seen as an extremely high risk investment. There are many red flags that traders should be aware of. This week's episode of Blockchain Insider was produced by Laura Watkins and Petrit Berisha. Edited by Alex Woodhouse. Special Guest: Adi Ben-Ari.
On this episode host Tom Shaughnessy is joined by Scott Andersen, a principal at Finlawyer.com and a former prosecutor at FINRA. In this episode the two discuss everything legal ranging from ICOs to the future of the space The legality of ICOs Etherdetla, Paragon and Airfox enforcement actions The legality of security tokens and exchanges Will all ICOs have to return investor money How the SEC is positioning in the space The BAKKT Delay ETF timing and impact Much, much more. ----more---- 51percent's Reports on Tezos and MakerDAO Follow Tom on Twitter @Shaughnessy119 Scott's Company Website Scott's 2016 Post ----more---- Sign Up For 51percent's Leading Crypto Research Using Coupon Code "Thanksgiving" 51percent's Institutional Crypto Podcasts are to the point discussions with crypto leaders for analysts, funds and institutions. Make sure to add your email on 51pct.io Disclosure: Tom Shaughnessy owns tokens in ETH, MKR, ZRX, HYDRO, CVC, POLY and GLA. This podcast is NOT investment advice and is only informational. Do not make investment decisions based upon this podcast. 51percent was not compensated by any party for this podcast episode.----more---- Sign Up For 51percent's Leading Crypto Research - Using Coupon Code "Thanksgiving" ----more---- Advertisers: To advertise on this podcast, email Tom@51pct.io Potential Guests: If you're interested in appearing on the podcast, email Tom@51pct.io ----more----
On episode 18 of Encrypted, Ahmed and Aniket discuss recent developments that have been happening in the blockchain world! Ahmed first starts off by talking about his experience at the Sora Summit in Macau and explains his takeaways from the investment focused event. The two then go on to discuss the recent news of the week, starting off with the SEC going after ICOs that did not comply with SEC laws. The two projects in question, Airfox and Paragon, had to return millions to investors after the SEC managed to settle charges with these projects for not following security registrations laws. They talk about what this means for the future of ICOs, in particular the future of regulation in the states. They move onto the second article which sheds light on a more progressive regulator; Switzerland, who have approved the world’s first crypto exchange traded fund. The two talk about its background, which cryptos it will be covering and what this means for the industry. Finally, they move onto the last article which discusses the bitcoin cash hash wars. They explain what bitcoin cash is, its difference with bitcoin and what has been happening in the bitcoin cash camp and why there has been an internal conflict. it is seen that this conflict was the catalyst for the bloodbath in the crypto markets. Ahmed emphasises that this is a grand experiment which is interesting and progressive for the industry. All of the above and more will be on this week’s episode of Encrypted! If you liked what you heard, please do leave us a review on iTunes and the other platforms. Don’t forget to support us by spreading the word! Sources: SEC Orders Airfox and Paragon to Return Millions to Investors on ICO Registration Violations (https://www.newsbtc.com/2018/11/16/sec-orders-airfox-and-paragon-to-return-millions-to-investors-on-ico-registration-violations/) Switzerland gives green light to first cryptocurrency ETP (https://www.ft.com/content/217f71a5-34fe-39ff-9e2d-fd708074602a) Bitcoin Cash Hash War Continues as Billions are Wiped Off the Markets! (https://www.crushthestreet.com/articles/digital-currencies/bitcoin-cash-hash-war-continues-as-billions-are-wiped-off-the-markets)
On this edition of the BitcoinNews.com Daily Podcast we discuss Bitcoin's predecessors DigiCash and e-gold. Hear about the SEC crackdown on Paragon and Airfox, and a Brooklyen con artist who created 2 fake ICOs and is going to prison. Learn about how Liqui.io is rapidly delisting tokens to possibly scam customers. --- Support this podcast: https://anchor.fm/bitcoinnewscom/support
Esta semana exploramos Airfox, la compañía que quiere revolucionar la banca móvil, atrayendo a aquellas personas que no tienen una cuenta bancaria. También discutimos acerca de la nueva movida de Uber, volviéndose una compañía que alquila carros. Por último, hablamos de las nuevas implementaciones de vigilancia que se están aplicando en Dubái y China, y su aplicabilidad para la seguridad en Colombia.
Cryptoknights: Top podcast on Bitcoin, Ethereum, Blockchain, Crypto, CryptoCurrencies
ABOUT THE GUEST Victor Santos is the co-founder and CEO of Airfox. A graduate from UC Berkeley Victor currently lives in Boston and is originally from Brazil. AirFox’s vision is to make the mobile internet more affordable and accessible. Founded by ex-Googlers, AirFox quickly established itself as the leader in affordable data plans for prepaid wireless carriers. Incubated at Harvard’s Innovation Launch Lab, AirFox is a TechStars Boston alumni and is venture backed by Project 11, Launch Capital, and NXT Ventures, among others. DESCRIPTION We talk to Victor Santos, CEO and Co-founder of Airfox. Airfox has been in existence for a long time in the crypto world with the vision of unlocking mobile access to emerging market. Airfox started off by providing wireless care in USA in the form of sponsored internet and moved on to build an app based on blockchain technology. The browser application is designed for low end Android phones which save data while browsing. Every user using airfox browser is rewarded with airtokens which can be redeemed later. Know more about Airfox and Airtokens on this episode of CryptoKnights! LINKS Newsletter : www.airtoken.com Website: http://www.airfox.io/ To invest : www.whitelist.airtoken.com Victor Santos : www.linkedin.com/in/victordossantos Twitter : www.twitter.com/airtoken Whitepaper: https://www.airtoken.com/paper/AirFoxICO_WhitePaper_v3.0.pdf
AirFox is leveraging blockchain technology to make mobile data more affordable and accessible to millions of people around the world. To do this, AirFox created a new cryptocurrency called AirTokens that will be redeemable for mobile data on pre-paid plans. Users earn these AirTokens by opting to view advertisements in AirFox’s free Android apps. AirFox recently announced it will open an Initial Coin Offering to fund development and launch of the AirToken and a revolutionary microloanprogram that will enable capital in emerging markets. I invited cofounder and CEO, Victor Santos, onto to the tech podcast to find out more about their $15M token sale and if China's move to ban initial coin offerings (ICO) has affected them.