My thoughts on the rise of fintech giants and payment infrastructure, a thread 👇
1/ Many investors look at the $1Tn+ of value created by fintech giants – @Visa ($400B), @Mastercard ($300B), @PayPal ($200B), @Square ($65B), @stripe ($60B) and @Adyen ($55B) – and think they’ve missed the boat. In fact, the best decade is yet ahead.
2/ There are few other industries tackling at $30Tn+ global TAM with the scale, ecosystem, and network effects these businesses have. Card payments remain <50% penetrated globally, and ecom is only ~15% of spend (even post-covid).
3/ Cloud computing and the explosion of payment infrastructure has made it easier than ever to build in fintech. The $150B+ in value created by @stripe @creditkarma @RobinhoodApp @Chime
@RevolutApp @Marqeta @Plaid @Affirm @Klarna @AfterpayUSA is only the tip of the iceberg.
4/ There is more opportunity than ever as a founder, operator, and investor in this space. Let’s build towards a more financially inclusive future @altcap @kevinjwang
5/ Follow for more thoughts on the fintech ecosystem
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