i want to acknowledge our key partners in had this audience including kate sofis. rodney fong president and ceo of the chamber of commerce. it's great to see both of you and i want to thank tracy sill sylvester owner of this pilates studio. we know now covid is going to be with us for the foreseeable future. this is about the delta surge right now. it could be about the next variant fuelled search next. so getting vaccinated is so important. we're mott only worried about the suffering of this fourth surge, but we're also needing to do everything we can to keep the city as open as possible and continue our in-person learning with kids in school. and, today, requiring the proof of vaccination to serve food and drinks or indoor events as another step forward as we continue to address the pandemic. this is navigating our new normal. we're here, d.p.h. is here to support businesses with the tools, signage, information, and other support to offer as we implement this order. and just a reminder that we will continue to send the vax to you team out to businesses to vaccina

i want to acknowledge our key partners in had this audience including kate sofis.odney fong president and ceo of the chamber of commerce. it's great to see both of you and i want to thank tracy sill sylvester owner of this pilates studio. we know now covid is going to be with us for the foreseeable future. this is about the delta surge right now. it could be about the next variant fuelled search next. so getting vaccinated is so important. we're mott only worried about the suffering of this fourth surge, but we're also needing to do everything we can to keep the city as open as possible and continue our in-person learning with kids in school. and, today, requiring the proof of vaccination to serve food and drinks or indoor events as another step forward as we continue to address the pandemic. this is navigating our new normal. we're here, d.p.h. is here to support businesses with the tools, signage, information, and other support to offer as we implement this order. and just a reminder that we will continue to send the vax to you team out to businesses to vaccinate

sofi shares. they're down sharply over to kate rogers who has the breakdown on the company's latest quarter hey, kateey, court. this is sofi's first report, reporting a lot of 48 cents, but that loss significant one-time charges related to the going public via spac mergers. this is sofi's eighth consecutive quarter. they said accelerated growth of membership to 2.6 million members. galileo nearly doubled the count. on the call they noted this had -- were nearly three times the number of lending products a year ago they were about nearly equal, he said. growth in student loans, largely the increase in lending segment products technology platform accounts increased 119% that's thanks to existing client growth and new client acquisition by galileo, management reiterating the full-year of adjusted net revenue, and adjusted ebitda the stock down more than 10% back over to you. >> thank you very much, kate let's trade sofi dan, what was most disappointing to you in the first report as a public company >> you never like to see a disappointing guidance right out of the gate. we're seeing that with a lot of t

kate sofis, director of the office of economic and work force development will discuss her vision and priorities as the new direct or and discussion the office of economic and work force development's charge to lead the implementation of the city's economic recovery plan. this is a discussion item, commissioners. with director sofis is the director of economic recovery initiative in the office of work force development. i will turn it over to you, director sofis. you have the controls. >> all right. good afternoon. >> welcome. >> it is good to be here. i am looking forward to this. thank you for having us today. let's move on to the next slide. another i will go through the presentation and want to have open dialogue with the commission. we will go through this and have a discussion and dialogue. thank you for the privilege of working with you and presenting to you. we will frame the office of economic and work force development here in san francisco. it is focused on prosperity with a special emphasis on equity and equitable economic development for our city. the purview of this depa

the likes of square and robinhood, so i sofi as well. >> kate, not just that, but we opened up the showalking about amazon's partnership with affirm that's another big company, sort of expanding its tentacles into fintech and affirm also has visions of being the super app it already has savings accounts, everybody seems to be talking about being a super app these days, coin base as well. i wonder if you have conversations with analysts or others, an analysis on what this kind of risk exposure could do even to some of these established companies that now seem to, you know, be getting more comfortable with this market that we're in >> that's a great question you mentioned affirm, paypal has things like buy now, pay later they're all launching similar products that seem to overlap. square, robinhood is mentioned, becoming its own super app you're spot on with that in terms of finteches being the alley pay, what you see in china and things that really right now don't exist in the u.s they want to be the one stop shop for finance that brings on more regulatory scrutiny a company like amazon,

robinhood, of course, sofi has it, square as well there's a lot more regulatory scrutiny there lately as well. kelly, back to you. >>> actually, i'll pick up, kate they make pennies per share? or is it by payment for order? how will these do it will they follow a robinhood model, or what >> that's a great question when it comes to robinhood, they've got their own brokerage firm, so they make on payment for order flows, the trades to different partners the other way to do this is partner within an existing broker dealer, so they're sort of the front end, they're the app and someone else handles the trading on the back end they could buy a brokerage firm, but with etrade and charles schwab tied up, through not that many acquisition targets there. and they could build it from scratch, which would require regulatory approval. that would be the slower way to go about it, but there's a couple different options the revenue models depend on which they go with there's a lot of trading going on, and it's become very vogue, i suppose, with robinhood and others getting into the game traders are great when the market is going up, but if the market cracks in

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