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At SoFi, The Problems Go Way Beyond Its Toxic Workplace

CEO Mike Cagney’s replacement will have to clean up the culture and the business before the company can IPO. SoFi cofounder and CEO Mike Cagney does not try to hide from the fact that his first stint as a chief executive was a bust. “It was a humbling experience,” he says of the five years he spent at wealth management startup Finaplex. After stumbling in the role, he hired a manager lacking in domain expertise as his replacement, purposefully setting his successor up for failure.
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