SOUND QUALITY WARNING: You know how Marc Andreessen said ‘software is eating the world’? Well, software ate this episode, please excuse the underwater sound and we’ll be back to normal next week!
In this Money Talks segment, Pete and Eoin trade ideas on the impact of Ireland’s investment in Stripe, Revolut’s American dream, the season of the SPAC with eToro, Bakkt and Kraken and thoughts on DeFi vs. mainstream crypto.
STORIES WE COVERED:
The double-bottom-line impact of Ireland’s investment in Stripe (Irish Times, 22-Mar-21)
Pete channeling Chamath Palihapitiya: “Take all of the old school, traditional financial services players that are valued in aggregate in the hundreds of billions right now. Then have a look at FinTech, and when you throw out Stripe, you’ve got maybe tens of billions of market cap. There’s so much more room to grow in fintech.”
Revolut applies for US banking license (Finextra, 23-Mar-21)
Eoin’s own doubts: “Aside from it being that one big market with 300 million people, there are some serious players there that Revolut will be competing with. Square are looking at becoming a bank, they’ve got 30 million users with CashApp, and you’ve got Venmo. I think the only way that they’re going to crack a market like this is with a large acquisition of an existing customer base. The spend alone of trying to get your name out there to compete with the likes of CashApp or Venmo, it’s just not going to work.
Season of the SPAC – eToro, Bakkt, Kraken (Coindesk, 16-Mar-21)
The Square Crypto Book of Bitcoin Mythology (shared by Jack Dorsey on Twitter, 18-Mar-21)
All-In with Chamath, Jason, Sacks & Friedberg (podcast referenced in segment on crypto)
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