All opinions are my own | Product @Moonpay 👨🏾💻| De-Fi 💸| Armchair defensive coordinator 🏈 | Writes at Econtechie and InvestorOS
London, England
Joined August 2018
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The important addition here is that you still need a viable path to high LTV
If you can’t generate a mix of high value spend, subscriptions, cross border remittances/payments, saving/investments or lending your low cost base won’t save you.
Starting a neobank is now incredibly cheap. With crypto rails, most of the stack comes out of the box for free. That makes CAC the dominant cost driver, and the whole business becomes a game of acquiring customers for less than they’re worth. The way to keep CAC low is to specialize. Teams often start by focusing on a narrow segment, like farmers in one region, young people in high-inflation economies, or expats in Asia, and build features and marketing tailored precisely to them. The result is great for consumers: they get financial experiences designed for exactly who they are.
Disruption starts in markets incumbents ignore because the margins aren’t worth it.
If you’re targeting their core customers from day one, you’re not disrupting anything. You’re just building a worse version of what already exists
Investors keep asking me what the AI impact on Fintech really looks like.
It’s this. Less chatbots more shipping 🚀
Claude is so much better as a personal AI assistant than ChatGPT but the app is awful in comparison 😩
Distribution vs Product Quality
My yearly reminder to all founders as you go build that next Google/MSFT/Salesforce killer app in 2026: when distribution is proprietary, distribution wins (Comcast vs Netflix), when distribution is commoditized, best product wins (chrome vs IE), when product is commoditized, best service wins (Amazon vs others), when service is commoditized, best network wins.
The era of multiple 5k yard seasons is done. Defensive schemes have just gotten much better at disguising coverages and simulating pressures
Dami retweeted
TVL in all of DeFi is about to break its record from November 2021.
But this time without algostables and without Alameda. Just years of building to create a strong base and get back to this point.
These two points are the only breakthroughs that matter in AI agents. I am tired of seeing benchmarks. We need open-ended metrics in complex environmental simulations
I was about to tweet about UX being the end state of composability and realized I already wrote it 4 years ago
I recently reread @benthompson article on defining levels of aggregation, given OpenAI’s potential as a super aggregator, prioritising it’s developer business over consumer and advertising looks like a bigger and bigger mistake 🧵
Ultimately, the flywheel hinges on consumer and ads, so prioritising developer APIs over expanding the consume TAM a massive mistake.
This is also the bull case for perplexity. If it lands an AI advertising model in a way that forms a meaningful moat they are well positioned.
We are in such a weird time. More and more people are struggling, but at the same time, my short-haul flight has half the plane in business class.
Who knows if the K-shaped economy will last, but in the meantime, every consumer strategy has to plan to target the mass affluent
The most accurate deepseek take.
Yes, the work is innovative in its approach, but the goal of frontier models was to push boundaries of capabilities rather than optimizing for efficiency.
