Why Fred Wilson is Wrong

I recently watched CBInsight’s Future of FinTech event. Unfortunately, I could not afford to attend the event but thanks to CBInsights the content was available online. The event was great from top to bottom. If you did not see it check it out here!

One of the fireside speakers was the famous Fred Wilson of Union Square Ventures. On stage he said publicly that FinTech startups do not need to partner with large financial institutions. This was a very bold statement considering the room was filled with representatives from large financial institutions.

Lets just be honest Fred Wilson is kind of a bad a**

If you are an iconic investor like, Fred Wilson, you have the privilege of telling the big corporations to figuratively piss off. Lets just be honest Fred Wilson is kind of a bad a** and saying something like this only gives him more street cred. For the rest of us we have to play within the defined boarders.

From my stand point I disagree with Fred. I am not saying that to be controversial. I am saying that because I have always been a collaborator. My last two position have been as directors of partnerships. I sincerely believe that as a startup you can build your company better and faster by partnering with the right corporate partners.

As I am building unbank.ventures FinTech incubator program corporate partnerships are a corner stone of our program. We believe that these partnerships are a vital resource for our founders. We believe that these relationships give our companies a fighting chance in a highly regulated and capital intensive vertical.

I love that Fred Wilson is true to who he is and is not afraid to voice his opinion. For me I have to be true to who I am and what I believe. With that said I am looking for corporate partners to provide mentoring and resources for our first class this fall. If you are interested in learning more about our program contact me at brnoyes@unbankventures.com