WEBVTT 1 00:00:00.120 --> 00:00:02.879 You know, one of the best things about Silicon Valley is that almost no 2 00:00:02.919 --> 00:00:06.839 one is from Silicon Valley. Great people come from all over the world to 3 00:00:06.879 --> 00:00:11.240 build companies and technology here. But it turns out I actually was born in 4 00:00:11.279 --> 00:00:15.720 Silicon Valley and I grew up here. I built my career here in technology. 5 00:00:16.399 --> 00:00:20.199 I previously served as the president and CEO of a company called wealth Front, 6 00:00:20.640 --> 00:00:24.359 and I've held executive and technical roles at companies you've probably heard of, 7 00:00:24.960 --> 00:00:30.239 Apple, eBay, LinkedIn, Dropbox. In addition, I have a real 8 00:00:30.280 --> 00:00:35.119 passion for personal finance. I serve as an adjunct lecturer at Stanford University. 9 00:00:35.240 --> 00:00:40.960 I've taught a class there for the last seven years called Personal Finance for Engineers. 10 00:00:40.000 --> 00:00:43.759 It's a class I always wish they offered when I was there, and 11 00:00:43.799 --> 00:00:48.039 now they let me teach. I'm also an active angel investor. I've invested 12 00:00:48.159 --> 00:00:52.119 over one hundred and thirty different companies, some of which may I have heard 13 00:00:52.159 --> 00:00:56.079 of, Companies like Firebase, which was sold to Google, open Door, 14 00:00:56.119 --> 00:00:59.799 which went public a few years ago, and then of course notable private companies 15 00:00:59.840 --> 00:01:03.719 like Sigma, Gusto, and a whole range of others. All right, 16 00:01:03.719 --> 00:01:04.840 well, thanks for sharing all that, and of course we're here to talk 17 00:01:04.879 --> 00:01:08.200 about Daffy. Now. What I'd like to do and I love this part 18 00:01:08.239 --> 00:01:12.799 of the series when we get to talk to entrepreneurs and leaders and CEOs is 19 00:01:12.840 --> 00:01:17.519 about that idea. And obviously, as an entrepreneur, you've had lots of 20 00:01:17.560 --> 00:01:21.680 ideas, You've created companies, you've sold them. It's the American dream, 21 00:01:21.799 --> 00:01:25.319 it's capitalism and it's rocking and rolling all the time. And it's such a 22 00:01:25.400 --> 00:01:29.760 neat story about Daffy. So if you could for me and our listeners that 23 00:01:30.079 --> 00:01:34.000 hiptus the idea of starting Daffy. You must have seen a hole in the 24 00:01:34.000 --> 00:01:37.000 industry where there was something to be filled in and say, you know what, 25 00:01:37.239 --> 00:01:40.599 I think we have an idea here that we have something special that doesn't 26 00:01:40.640 --> 00:01:45.239 exactly exist the way we wanted to for our clients and the members out there, 27 00:01:45.239 --> 00:01:49.120 can you talk about the origin? Please? Very happy to And the 28 00:01:49.239 --> 00:01:55.599 story of Daffy really goes back to the pandemic in twenty twenty, my co 29 00:01:55.680 --> 00:02:02.040 founder Alejandro and I we're thinking about building a category defining product in a space 30 00:02:02.079 --> 00:02:07.079 that we thought would be really meaningful, and obviously during the pandemic, everyone 31 00:02:07.200 --> 00:02:10.639 was thinking a lot about what was going on in their communities and local needs. 32 00:02:10.840 --> 00:02:15.280 And we saw that a lot of people were giving and supporting charities and 33 00:02:15.360 --> 00:02:21.719 nonprofits in their area, even though the process was harder and more frustrating than 34 00:02:21.759 --> 00:02:24.639 it had to be. I mean, I've had a long career in fintech, 35 00:02:24.719 --> 00:02:29.639 both as an operator as an investor, and we've seen so much success 36 00:02:29.680 --> 00:02:32.280 in the last ten to fifteen years with new companies and products that have helped 37 00:02:32.319 --> 00:02:38.120 people spend better and save better and invest better. And all Hondro and I 38 00:02:38.159 --> 00:02:43.080 asked, where is all that great technology going forgiving? Right? Can we 39 00:02:43.159 --> 00:02:47.360 make all those ways that we've discovered to help people spend and save and invest 40 00:02:47.400 --> 00:02:51.960 better? Can we apply that to helping people give better? And So, 41 00:02:52.120 --> 00:02:55.080 I mean, like a lot of financial priorities in life, automation helps, 42 00:02:55.439 --> 00:02:59.840 particularly with financial tasks. Right. If you set a goal for your retirement 43 00:03:00.000 --> 00:03:01.879 and automate it, it makes it easier to hit that goal. And we 44 00:03:02.000 --> 00:03:06.879 just really fell in love with that idea of doing something like that for charitable 45 00:03:06.879 --> 00:03:10.599 giving, and so Daffy was born. We raised around and built the team 46 00:03:10.879 --> 00:03:15.400 and spent our time launching what we think is a category defining product. To 47 00:03:15.439 --> 00:03:20.000 help people be more generous more often outstanding. Well, if we can, 48 00:03:20.080 --> 00:03:23.240 before we get into exactly what you do, Adam, do you have a 49 00:03:23.280 --> 00:03:27.360 mission statement that you can share with people. We do, And actually, 50 00:03:28.800 --> 00:03:31.000 as I just mentioned, our mission at Daffy is quite big, but it's 51 00:03:31.159 --> 00:03:37.280 very simple. Our product and platform exists to help people be more generous more 52 00:03:37.319 --> 00:03:40.520 often. We believe that with the right combination of technology and design, we 53 00:03:40.599 --> 00:03:46.960 can actually help people make giving a habit and inspire them to give even more 54 00:03:46.080 --> 00:03:50.599 to the causes and organizations that they support. I love that that's well said. 55 00:03:50.639 --> 00:03:53.120 So let's do this. If you were to give a thirty thousand foot 56 00:03:53.159 --> 00:03:59.080 view to myself, our listeners and basically tell us what you do. What 57 00:03:59.159 --> 00:04:02.319 is it that you do in the company. What's Daffie do? Yeah, 58 00:04:02.400 --> 00:04:05.840 Daffi is well, you know, true to my background as an engineer, 59 00:04:06.199 --> 00:04:11.240 Daffy is a pretty straightforward name. It sounds like fun, but it really 60 00:04:11.240 --> 00:04:14.560 stands for the donor advised fund for you. You know, we believe that 61 00:04:14.639 --> 00:04:18.680 everyone should have some money put aside for charitable giving, and that's what DAFI 62 00:04:18.759 --> 00:04:25.160 is. Daffie is a modern platform for charitable giving that helps anyone open and 63 00:04:25.279 --> 00:04:30.600 fund and support the organizations that they care about. A donor advice fund, 64 00:04:30.600 --> 00:04:33.120 of course, is a tax advantaged account where you can put money aside, 65 00:04:33.439 --> 00:04:38.600 get a tax deduction for giving money to charity, one of the best tax 66 00:04:38.639 --> 00:04:43.199 deductions out there, and then anytime you're inspired to give to an organization, 67 00:04:43.279 --> 00:04:46.279 you just make a recommendation, a few taps in the app, and the 68 00:04:46.319 --> 00:04:49.639 money gets sent to the charity that you support. In some ways, it's 69 00:04:49.639 --> 00:04:54.600 similar to a four to one K for retirement or a five point twenty nine 70 00:04:54.639 --> 00:04:59.639 plan for college savings. But it really is an amazingly flexible platform to help 71 00:04:59.680 --> 00:05:03.560 people put money aside for charity. And now the best part, of course 72 00:05:03.639 --> 00:05:06.959 is that you don't only have the ability to put cash aside. You can 73 00:05:06.959 --> 00:05:12.319 actually donate stock, you can donate mutual funds, you can even donate crypto. 74 00:05:13.079 --> 00:05:15.759 But anyway that people want to put money aside, they want to give 75 00:05:15.839 --> 00:05:18.839 to charity, we try to make it easier for them to do so with 76 00:05:18.920 --> 00:05:21.920 a simple app in their pocket. And Adam, I don't have to tell 77 00:05:21.920 --> 00:05:25.600 you this and you're just mentioning it because it's on the phone. That makes 78 00:05:25.639 --> 00:05:28.639 it so easy to do, and it's so brilliant that way. I did 79 00:05:28.759 --> 00:05:30.360 want to ask you this. I'm a sports guy. I've been in the 80 00:05:30.399 --> 00:05:34.800 business for over thirty years, and I always love to ask professional athletes, 81 00:05:35.399 --> 00:05:40.160 when did you know that you were really good? Or when did you know 82 00:05:40.319 --> 00:05:44.399 you were going to be a pro. So with this app and this idea, 83 00:05:44.439 --> 00:05:47.639 which is freaking brilliant, when did you and Alejandro know that you know 84 00:05:47.720 --> 00:05:50.560 what? I think we have something pretty special here that could really work. 85 00:05:53.279 --> 00:05:56.480 You know, there's there's a few different moments, but for me, I'm 86 00:05:56.480 --> 00:06:01.439 always inspired by the members bye bye, people who actually are putting money aside, 87 00:06:01.439 --> 00:06:08.279 who are actually supporting organizations. I remember when we just launched the product. 88 00:06:08.319 --> 00:06:13.439 One of our first donations, our first contributions, was actually a member 89 00:06:13.439 --> 00:06:16.240 in New York who wanted to support their congregation, but they wanted to give 90 00:06:16.240 --> 00:06:20.600 them a bitcoin. And of course, like most congregations, like most charities, 91 00:06:20.600 --> 00:06:24.800 they don't know how to handle a bitcoin. And this person had seen 92 00:06:24.839 --> 00:06:27.439 our press release and said, oh, I get it, I download your 93 00:06:27.480 --> 00:06:30.839 app, I give you the bitcoin, and you'll get cash to the charity. 94 00:06:31.839 --> 00:06:35.040 And the fact is we didn't know that person, we never met them. 95 00:06:35.120 --> 00:06:40.319 They were three thousand miles away. But that magic of realizing that, 96 00:06:40.399 --> 00:06:43.920 Wow, by building this app, by using technology, we could make it 97 00:06:44.040 --> 00:06:49.040 easier for this person thousands of miles across the country to donate an asset which 98 00:06:49.279 --> 00:06:55.040 granted as a novel asset relatively recent to bitcoin, and actually have that money 99 00:06:55.160 --> 00:06:58.639 reached the charity that they cared about, all in a matter of days. 100 00:06:59.120 --> 00:07:01.399 It made all a hand and I feel like we were really onto something that 101 00:07:01.480 --> 00:07:06.680 this could really be a big part of helping people be more generous. Has 102 00:07:06.720 --> 00:07:12.240 anything surprised you over the three and a half years since you came up with 103 00:07:12.279 --> 00:07:15.040 the idea and co founded this company, because you know, as well as 104 00:07:15.079 --> 00:07:19.279 I do, tech and the world's moving very quickly. Has anything surprised you 105 00:07:19.399 --> 00:07:23.319 in the sustainability of the growth of the company over the last three three and 106 00:07:23.319 --> 00:07:27.439 a half years. You know, the biggest surprise to me continues to be 107 00:07:27.639 --> 00:07:33.079 how little most people in the industry and the technology industry have focused on this 108 00:07:33.240 --> 00:07:38.199 sector. I mean, let's be honest. In twenty twenty two, Americans 109 00:07:38.199 --> 00:07:43.560 gave almost half a trillion dollars to charity four hundred and ninety nine billion dollars. 110 00:07:43.800 --> 00:07:46.519 I mean, that's almost two percent of GDP. By the way, 111 00:07:46.560 --> 00:07:50.759 that is an extraordinary number. It is extraordinary. It's a huge market. 112 00:07:50.959 --> 00:07:57.079 And the estimate is that about sixty million American households give to charity every year. 113 00:07:57.720 --> 00:08:01.399 By any measure, this is a huge market. This is a lot 114 00:08:01.439 --> 00:08:05.680 of value, and it deserves to have the investment of top quality people and 115 00:08:07.040 --> 00:08:11.519 engineering design working on this problem. Clearly, giving matters to people, and 116 00:08:11.800 --> 00:08:16.879 I think, you know, the craziest thing about Daffy is that we actually 117 00:08:16.879 --> 00:08:22.240 believe that people want to give more. You know, our research shows that 118 00:08:22.360 --> 00:08:26.920 when people set a goal for their giving, they actually end up giving thirty 119 00:08:26.959 --> 00:08:31.120 two percent more to charity than just giving when people ask them. And so 120 00:08:31.680 --> 00:08:33.360 you know, we look at that number and as big as five hundred billion 121 00:08:33.399 --> 00:08:37.600 dollars a year sounds. We think that if people actually were able to easily 122 00:08:37.639 --> 00:08:41.919 give as much as they want to give when they want to give it, 123 00:08:41.519 --> 00:08:46.120 they might give as much as one hundred billion dollars more a year to charity. 124 00:08:46.159 --> 00:08:48.279 And that could be a trillion dollars over the next decade. Wow. 125 00:08:48.519 --> 00:08:52.080 So that's what gets us fired up and excited about what we're doing. And 126 00:08:52.120 --> 00:08:56.159 I imagine without me having any context or any research, A lot of it 127 00:08:56.200 --> 00:09:00.559 would be just the ease of using the app I imagined to make it easier 128 00:09:00.600 --> 00:09:03.639 for the client to do those things. Right. You know, you're right. 129 00:09:03.720 --> 00:09:07.080 Technology has a huge role to play, and we all know that when 130 00:09:07.080 --> 00:09:11.600 you have an easy to use app or service, you use it more often. 131 00:09:11.639 --> 00:09:13.480 And so that sounds like a wonderful thing for giving, right. If 132 00:09:13.519 --> 00:09:18.000 you have this app in your pocket and you have money put aside for charity, 133 00:09:18.039 --> 00:09:22.399 it's so much easier to respond to any request you get. But the 134 00:09:22.440 --> 00:09:26.879 real benefit of a platform like Daffi is that it turns out that putting money 135 00:09:26.919 --> 00:09:31.600 aside for any financial goal makes it more likely that you'll hit that goal. 136 00:09:31.159 --> 00:09:35.279 Right. We know this from retirement, right. You don't just save for 137 00:09:35.399 --> 00:09:39.279 retirement one off writing one off checks, right, You want to set up 138 00:09:39.279 --> 00:09:43.240 an automatic deduction from your paycheck. This is why for one case work, 139 00:09:43.720 --> 00:09:46.519 and it's same for a lot of financial goals. And it turns out the 140 00:09:46.559 --> 00:09:52.320 research says it's the same forgiving. And so the biggest value I think of 141 00:09:52.440 --> 00:09:56.519 having Daffy, having that app in your pocket is that any time you're inspired 142 00:09:56.559 --> 00:10:01.279 to give, the money's already been put aside, so all you'd have to 143 00:10:01.320 --> 00:10:05.039 do is make the decision to give. And so by making that decision easier 144 00:10:05.080 --> 00:10:07.759 for people, we think that that will unlock a lot more giving. You 145 00:10:07.840 --> 00:10:11.840 know, Adam, we talked about this brilliant idea that yeah with Daffy, 146 00:10:11.879 --> 00:10:15.120 and I imagine that when you do have this great idea and you implement it, 147 00:10:15.440 --> 00:10:18.600 that eventually there's going to be copiers or people that want to do what 148 00:10:18.679 --> 00:10:22.320 you want to do, or there might be some assemblance of competition where it 149 00:10:22.399 --> 00:10:24.240 might be a little bit different than what you're doing out there. With all 150 00:10:24.240 --> 00:10:26.919 that said, how do you combat all of it when people want to do 151 00:10:26.960 --> 00:10:30.720 what you do? When you've got this great idea, you've implemented it, 152 00:10:30.879 --> 00:10:33.720 you're executing it, things are going well, but people want to they don't 153 00:10:33.720 --> 00:10:35.919 want to rip you up, or they want to copy and maybe do something 154 00:10:35.960 --> 00:10:39.759 like you're doing. How do you deal with those things? Yeah, it's 155 00:10:39.759 --> 00:10:45.600 a great question. And we don't have the luxury of being the first or 156 00:10:45.639 --> 00:10:48.720 the only donor advice fund in the country. Actually, donor advice funds have 157 00:10:48.759 --> 00:10:52.919 been around for decades and some of the largest financial institutions out there, I'm 158 00:10:52.919 --> 00:11:01.279 talking the biggest banks brokerages like Fidelity, Schwab, Vanguard all have donor advised 159 00:11:01.320 --> 00:11:07.080 funds, But we differentiate ourselves in two very big ways. One is, 160 00:11:07.120 --> 00:11:09.960 of course, the technology that we talk about, which enables us to implement 161 00:11:11.039 --> 00:11:15.279 features that no one else has. Right. We have a family plan to 162 00:11:15.320 --> 00:11:18.639 help support families who like to give together. We have a workplace plan. 163 00:11:18.000 --> 00:11:22.919 We give the ability for people to send charitable gifts, letting other people pick 164 00:11:24.000 --> 00:11:26.000 what charity they want the money to go to and then have the money sent 165 00:11:26.080 --> 00:11:30.759 off. We even let people run campaigns and so we have a lot of 166 00:11:30.799 --> 00:11:35.919 innovative features. But probably the biggest differentiator we have, which frankly is going 167 00:11:35.960 --> 00:11:41.679 to be very difficult for the incumbents and other large institutions to support, is 168 00:11:41.720 --> 00:11:45.759 that we have a very different business model, which we took from the nonprofit 169 00:11:45.799 --> 00:11:50.200 industry. Most of these firms that have donor advice funds, you know, 170 00:11:50.320 --> 00:11:54.679 Schwab, Fidelity, Vanguard, their investment shops, and they have a way 171 00:11:54.720 --> 00:11:58.559 of charging for things. They tend to charge a percentage of assets, and 172 00:11:58.600 --> 00:12:03.360 that has the problem that it makes them mainly focused on large accounts. Right, 173 00:12:03.399 --> 00:12:07.200 if you have a twenty five thousand dollars account at Van Garter Schwaber Fidelity. 174 00:12:07.720 --> 00:12:11.399 You're going to pay one hundred and fifty dollars a year for that account, 175 00:12:13.399 --> 00:12:15.480 and by the way, it's very hard to even figure out what you're 176 00:12:15.519 --> 00:12:20.519 paying. Daffy is based on a membership model like a lot of great nonprofits, 177 00:12:20.759 --> 00:12:24.759 and our price starts at a very simple three dollars a month. And 178 00:12:24.840 --> 00:12:28.000 so we think that the combination of technology in our business model is going to 179 00:12:28.000 --> 00:12:31.960 be a lot of differentiation in this market and really shake it up in ways 180 00:12:31.960 --> 00:12:37.039 that hopefully help more people. Give Adam, I did want to ask you 181 00:12:37.120 --> 00:12:39.480 about the future. And I had the good fortune to live in Portland, 182 00:12:39.519 --> 00:12:43.720 Oregon, where I knew a lot of people worked in Nike, and I 183 00:12:43.720 --> 00:12:48.200 remember meeting somebody in a very special place and a very special ten person board 184 00:12:48.440 --> 00:12:50.720 that thought about the future and the future only about what a shoe was going 185 00:12:50.759 --> 00:12:54.799 to be like five ten years down the road. I found that fascinating. 186 00:12:54.840 --> 00:12:58.360 I didn't know it existed, but now I know that every company, especially 187 00:12:58.399 --> 00:13:01.480 a brilliant like yours, is always look into the future, whether it's a 188 00:13:01.519 --> 00:13:03.879 couple of years down the road, five or ten. So with all of 189 00:13:03.919 --> 00:13:07.039 that said, with you and Alejandro and your team when you think about, 190 00:13:07.240 --> 00:13:11.720 well, we're sustainable, things are working now, here's the future and possible 191 00:13:11.799 --> 00:13:15.639 growth. Where do you see the company going as you look down the road. 192 00:13:16.600 --> 00:13:20.360 Well, it's a good question. It's always a little dangerous to ask 193 00:13:20.480 --> 00:13:24.039 founders that question because founders are known to dream big. And that's okay, 194 00:13:24.200 --> 00:13:26.759 a great question. Yeah, and it's yeah, No, it's a it's 195 00:13:26.799 --> 00:13:30.519 a it's a great one to ask, and I think it's an important one, 196 00:13:30.960 --> 00:13:33.519 especially if you're joining a platform where you want to know what it's going 197 00:13:33.559 --> 00:13:35.960 to grow up to be. Yeah, what are you signing up for? 198 00:13:35.960 --> 00:13:41.960 For Alejandro and myself, we you know, we started our careers. One 199 00:13:41.000 --> 00:13:45.879 of the platforms we built together was a company called LinkedIn, right, and 200 00:13:45.919 --> 00:13:50.120 we were both small parts of a very big team there, but LinkedIn had 201 00:13:50.159 --> 00:13:54.200 a vision of really connecting all of those companies and opportunities out there with the 202 00:13:54.279 --> 00:13:58.320 talents out there. And when I look at the future of Daffy, what 203 00:13:58.399 --> 00:14:03.399 I see is I see tens of millions of people across the country who care, 204 00:14:03.120 --> 00:14:09.000 who give, who put money aside and donate to organizations and causes they 205 00:14:09.000 --> 00:14:15.360 believe in. And I see a country that has almost two million charitable organizations, 206 00:14:15.960 --> 00:14:20.120 and there's no good way for those organizations to find the people who care. 207 00:14:20.080 --> 00:14:24.799 And there's no great way for those millions of people to find organizations that 208 00:14:24.879 --> 00:14:28.559 inspire them, that do the work that they want to see done. And 209 00:14:28.639 --> 00:14:31.759 so the idea of building out this community where those millions of people can discover 210 00:14:33.120 --> 00:14:37.240 and find those millions of organizations and vice versa is really exciting to Alejandra and 211 00:14:37.320 --> 00:14:41.320 myself because it's something that doesn't exist today. Right if you look on social 212 00:14:41.360 --> 00:14:46.440 media, if you look online, it's all news, it's all finance, 213 00:14:46.559 --> 00:14:52.399 it's dating, it's shopping. But where's charity, where's giving? Building that 214 00:14:52.559 --> 00:14:58.919 space online for charitable giving is what gets us excited every day every week with 215 00:14:58.000 --> 00:15:01.639 what we're building in the plottform behind Daffy. You know, one of the 216 00:15:01.679 --> 00:15:05.399 exciting things of the world that I live in with sports and news is that 217 00:15:05.519 --> 00:15:09.879 I'm on social media all the time, and to this day, Adam, 218 00:15:09.919 --> 00:15:15.080 it still amazes me how things get viral, and I know there's really not 219 00:15:15.159 --> 00:15:18.519 an answer to that. And so I throw this at you as an owner 220 00:15:18.559 --> 00:15:20.879 of a company with this great idea, and you've been around for a handful 221 00:15:20.919 --> 00:15:24.200 of years. You know, for me, when I get a great haircut, 222 00:15:24.240 --> 00:15:28.759 I tell somebody you should check out that barber. It's a great haircut. 223 00:15:28.799 --> 00:15:31.919 It's word of mouth. In this day and age, with this brilliant 224 00:15:31.960 --> 00:15:37.360 idea and the app and what you're executing now, you could buy all the 225 00:15:37.399 --> 00:15:41.639 marketing you want and you can get this platform. In that platform does simply 226 00:15:41.679 --> 00:15:43.759 come down that somebody has a great experience. It's still word of mouth, 227 00:15:43.799 --> 00:15:48.960 and that is the best thing that a company could ever have. Well, 228 00:15:48.000 --> 00:15:52.840 word of mouth is definitely important, and I think that sometimes, especially in 229 00:15:52.879 --> 00:15:58.159 the technology industry, people get so fascinated with metrics and virality and sure building 230 00:15:58.200 --> 00:16:03.159 these different ways to spread the word that they can sometimes forget that the best 231 00:16:03.200 --> 00:16:06.879 marketing and the best way for something to spread is for someone to use your 232 00:16:06.960 --> 00:16:11.320 product, love it, and then they will tell other people. Right. 233 00:16:11.960 --> 00:16:15.559 But I also think that the problem space you work in, the problem you're 234 00:16:15.600 --> 00:16:19.039 solving for customers, is also very material to that. And one of the 235 00:16:19.039 --> 00:16:26.159 things I love about giving is that, unlike most financial tasks, giving is 236 00:16:26.399 --> 00:16:32.320 fundamentally social right. We don't share our bank accounts with other people, and 237 00:16:32.879 --> 00:16:37.519 investing tends to also be very private and personal. But giving is something that 238 00:16:37.559 --> 00:16:40.960 we do with other people. Right. We go to events, we support 239 00:16:41.080 --> 00:16:45.000 organizations, we volunteer, we fundraise for organizations we care about. And we 240 00:16:45.080 --> 00:16:48.600 don't do that alone. We do it with others. And so you know, 241 00:16:48.679 --> 00:16:52.559 Daffy has seen amazing growth. Right in twenty twenty three, we saw 242 00:16:52.639 --> 00:16:57.080 growth of over four hundred and twenty five percent. We went from twenty million 243 00:16:57.120 --> 00:17:02.840 in contributions to over one hundred and five million dollars in just one year. 244 00:17:03.039 --> 00:17:06.000 Wow. And a lot of growth has to do with the fact that, 245 00:17:06.079 --> 00:17:10.400 yes, I think the product is wonderful and differentiating, and yes, I 246 00:17:10.440 --> 00:17:14.680 think that people who use the product say, wow, this is such a 247 00:17:14.680 --> 00:17:17.799 better way to give. I can't imagine going back to the way I did 248 00:17:17.799 --> 00:17:21.480 it before. But a lot of the power and a lot of that growth, 249 00:17:21.519 --> 00:17:25.400 a lot of that virality comes from the fact that people who give to 250 00:17:25.559 --> 00:17:30.759 organizations and support organizations talk to each other and they talk about the ways that 251 00:17:30.799 --> 00:17:34.279 they give, and so we're seeing the apps spread quite a bit through those 252 00:17:34.319 --> 00:17:37.880 mechanisms. That makes a lot of sense. I appreciate you sharing all that 253 00:17:37.240 --> 00:17:40.720 we Adam, Let's do this. This is one of my favorite parts of 254 00:17:40.759 --> 00:17:42.240 the interview. As we wrap up, I love to give the floor to 255 00:17:42.319 --> 00:17:47.359 you, and we've had a great discussion over the almost twenty minutes that we've 256 00:17:47.359 --> 00:17:51.400 had a chance to visit. But maybe just a few takeaways for our listeners 257 00:17:51.440 --> 00:17:55.240 as we wrap up the questions, the answers, your thoughts on Daffy, 258 00:17:55.640 --> 00:17:57.160 and just a few things that you would like to leave our listeners with when 259 00:17:57.160 --> 00:18:02.960 it comes to your great company. So the floor is yours. W you 260 00:18:03.000 --> 00:18:07.359 know. The advice I'm going to give is very simple, and it's a 261 00:18:07.400 --> 00:18:11.559 personal story because I remember when I opened my first donor advice fund and I 262 00:18:11.640 --> 00:18:17.440 was amazed when I look back historically at how much it affected my giving and 263 00:18:17.519 --> 00:18:22.680 how much more I support the organizations and causes that I care about. And 264 00:18:22.720 --> 00:18:26.160 so my advice for people would be very simple. If you do give to 265 00:18:26.279 --> 00:18:30.079 charity, whatever you give, whether it's hundreds of dollars, thousands of dollars, 266 00:18:30.160 --> 00:18:33.759 whatever the amount, set a goal for your giving, even if that 267 00:18:33.799 --> 00:18:37.519 goal is just the amount you gave last year. Use a platform like Daffy 268 00:18:37.640 --> 00:18:41.839 to set some money aside. Make it a part of your budget. Not 269 00:18:41.920 --> 00:18:47.000 only will you find that it's easier to give, but the rewards you get 270 00:18:47.039 --> 00:18:52.640 from giving get magnified over time because it is a bit addictive when you put 271 00:18:52.720 --> 00:18:56.200 money aside for charity, when you watch it grow because it's invested tax free, 272 00:18:56.519 --> 00:19:00.920 and then when you're inspired you have that money of itailable it feels good. 273 00:19:02.519 --> 00:19:06.119 It feels good because you can support the organizations you care about, and 274 00:19:06.200 --> 00:19:10.480 it feels good that you actually were prepared that you put that money aside. 275 00:19:11.079 --> 00:19:14.400 So I would encourage everyone, whether it's Daffy or another donor advice fund, 276 00:19:14.640 --> 00:19:18.119 to set a goal for their giving and make giving an actual part of your 277 00:19:18.160 --> 00:19:23.160 financial life, well said Adam. And one last thing, website and where 278 00:19:23.160 --> 00:19:27.720 people can download the app at Oh Fantastic yuess. So we do have a 279 00:19:27.799 --> 00:19:32.680 native app. We were the first donor advice fund fully functional in the app 280 00:19:32.680 --> 00:19:34.039 store. So if you go to the app store and type in Daffy, 281 00:19:34.119 --> 00:19:38.119 you'll find us Daffi Charitable Fund. You can also just go to Daffi dot 282 00:19:38.200 --> 00:19:42.400 org and easily sign up within a few seconds. You can fund it with 283 00:19:42.480 --> 00:19:45.559 a card, you can fund it with your bank account, and like I 284 00:19:45.559 --> 00:19:49.960 said, you can even do fancy things like donate stock or crypto. But 285 00:19:51.039 --> 00:19:52.880 yeah, definitely go to daffi dot org and check it out. I's standing, 286 00:19:52.920 --> 00:19:56.319 Adam. I really enjoyed our conversation and really appreciate your time. Continue 287 00:19:56.359 --> 00:20:00.799 to success to you and Alejandra and your team, and thank you so much 288 00:20:00.799 --> 00:20:03.519 for joining us on CEOs. You should know, thank you for having me