Story
Getting a dollar loan against Ether with no banker, application, or credit check
Shaan walks through a simple DeFi loan: he staked Ether on Compound, could earn 5-7% lending it out versus ~0.001% at Wells Fargo, then borrowed USDC against it and cashed out to dollars on Coinbase, all without a banker, application, or credit check.
“And I got a US dollar loan that I could go use to go buy, you know, a pizza right now if I want to. And I was like, well, that's pretty sweet. I never had to talk to a banker, fill out an application, do a credit check. I didn't have to do anything and I was able to get a loan.”
Idea
Buy up shuttered bank branches for suburban coworking
Zelby notes Wells Fargo closed roughly a quarter of its branches in a single year, leaving 3,000–6,000 sq ft buildings with great suburban foot traffic. Buy them cheap and convert them into suburban coworking spaces.
“Back in, I think this is 2016, Wells Fargo shut down in a single year 25% of all their bank branches. That was like 1,000 or 2,000 bank branches. Now, bank branches are well-positioned for foot traffic in mostly suburban, you know, some more rural areas. Now, huge square footage. What is going to go into these 3,000 to 6,000 square foot things? That would be a perfect place to go and build the, you know, the suburban version of the coworking model. Buy up the banks, you know, like all the places they're trying to shut down, get it for pennies on the dollar, and then go and do that.”
Steal thisConvert closed bank branches — prime suburban foot traffic, big square footage — into suburban coworking spaces.