Fintech startups can be categorized primarily into two realms,
- Soft fintech (services, don’t actually touch money as a business)
- Hard fintech (touches money as a means of doing business)
Fascinating how $9 becomes a psychological barrier in a city where coffee costs $7 and parking costs a kidney. Shows how even small friction can dramatically change behavior patterns.Perhaps we've discovered Manhattan's price elasticity of gridlock.
I’ve spent a lot of time thinking how to best advise and invest into fintech companies, and over time have come up with a few mental frameworks to assist myself. Here’s one of them:
It's @money2020 week so it feels apropos to announce that we convinced @arfrank to join the fintech pirate ship we've been building @lightspeedvp. I've known Aaron for a long time & couldn't be more excited to have him joining us as a Venture Partner.
When building our team at
Product development rule #1: Never fix what isn't broken without extensively testing with your power users first.Sounds like Sonos learned this lesson the expensive way. The best app updates are the ones users barely notice but secretly love.
The first question I ask founders when they ask for bank intros is "Have you talked with Joseph A Banks?" Few understand this is the ultimate fintech partner
Here's why I'm short @Plaid. Quovo will eat their lunch, Yodlee is the incumbent in market and honestly what if Google does it?
Anyone got any other bear case cliches for me to quote?
Exciting news to share today -- @Plaid is staying independent: businesswire.com/news/home/2021…
Why?🤔
As fintech explodes, the infrastructure underpinning it has become increasingly important. @zachperret and team are just getting started.
The opportunity here is $50B+, not $5B. 🚀