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Steve Faktor
@ideafaktory
, 6 tweets, 3 min read Read on Twitter
Another card consolidation scheme. "Curve".
Whether you're a small business or a giant payments provider, if some nobody startup tries to wedge itself between you and your customers, f$%^ them up, with extreme prejudice. Seriously.
My previous comments on Curve's lazy, cynical, parasitic business model:
Another failed scheme from a few years ago, "Fuze"
facebook.com/ideafaktory/po…

And Amazon tried this with their "wallet"
facebook.com/ideafaktory/po…
Consolidators, like Paypal, aren't merchants, selling products/services. They wedge in to facilitate #payments. The ONLY reason Paypal was allowed todo it was leverage: a growing e-commerce site, eBay. Without it, no one would have heard of Paypal. As no one will of these hacks.
There are also #security, #branding & #customerservice reasons to keep parasites like Curve out. They want VC's to believe they're Netflix (using mail to get to digital). In reality, they're bottom-feeders offering no value to infiltrate your customer relationships & #data.
Forgot the link...
pymnts.com/news/payment-m…
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More from @ideafaktory see all

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Steve Faktor
@ideafaktory
Good #economics debate among @oren_cass @benshapiro @EricRWeinstein on what if market capitalism can no longer produce marriageable men & stable family formation. Is there a case for intervention...presuming we can identify root causes.

Start here:
Then:
Some causes of male wage/family breakdown:
-⬆️education/housing/healthcare
-⬇️skilled jobs, ⬆️ low wage services
-⬆️women in workforce👉wage competition, ⬆️supply
-divorce law disincentives
-mass incarceration of black men
-adverse public assistance incentives
-⬆️lifestyle choice
Interesting to note many of these are self-inflicted: direct byproducts of policies we enacted.
-loss of manufacturing jobs expedited by free trade agreements
-incarceration, divorce & welfare laws adverse consequences
-Fannie/Freddie/health tax breaks created massive distortions
Read 6 tweets
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Steve Faktor
@ideafaktory
Thread: FinancialServices Access
This has been a persistent subject as a market opportunity since I started at @MasterCard in 2001. Then @Citi & @AmericanExpress. Legacy financial services & #payments #technology were simply insufficient to service those markets economically.
1/5
Recently, companies like mPesa (Africa) showed that this can be done. Especially, in countries where you're building a completely new infrastructure, not relying on (or mandated to integrate with) legacy payment systems. Those carry onerous compliance & processing costs.
2/5
With almost full smartphone saturation, some #fintech players like Simple, even @Square's Cash & @Paypal's @Venmo apps, are able to get to more people. Others like Green Dot prepaid & payday lenders go deeper into servicing this population, but at controversially high fees.
3/5
Read 5 tweets

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BadDude.SimoHayha😠
@ChiefCovfefe
<thread>Briefly dropped this article yesterday, but I've got some more thoughts on the general idea of what hacktivism is and what it's being portrayed as. These are my observations...
zdnet.com/google-amp/art…
... hacktivism is portrayed by many of it's advocates as a form of legitimate civil disobedience.... Except there's no real protest involved, just malicious activity in the guise of a "protest". In the USA, there's plenty of legal forms of online protest...
... The online protests with CISPA, CISA (and others) showed successful LEGAL protesting... Now this is all within the legal framework of UNITED STATES LAW. I recognize regimes, sneezing the wrong way can land someone in jail, so different approaches required there...
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Janice
@jskielb3
1/This is a lengthy thread describing in detail the Federal Government Executive Branch Departments & Agencies Reformation & Reorganization Plan (R&R Plan), entitled “Delivering Govt Solutions in the 21st Century.” whitehouse.gov/wp-content/upl…
2/h/t to @ThomasWictor who tweeted about the R&R Plan yesterday as I was still reading it, for highlights he described & particularly for his insight regarding it—& its transformative content—which may in pt be behind the Dem’s escalation/opposition to @POTUS @realDonaldTrump
3/For a thread w/a list of highlights from the R&R Plan, see:
Read 134 tweets
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Shadeed Q. Eleazer
@mrshadeed
Having a rich investor buy into our business ideas to fund the growth of our empires is a dream for many startup founders.
For the rest of us, we have to wake up and fund our own businesses.
Review this thread for practical tips for Bootstrapping your business.

#startupgrind
What is Bootstrapping?
The Small Business Encyclopedia defines it as: Financing your company's startup and growth with the assistance of or input from others.

I define it as: Building a business with out of pocket financing w/out the guidance of a parent company.
Bootstrapping Strategy #1
Know your operating costs and expenses. Ruthlessly manage unnecessary expenses.
If your partners are money-motivated, it is important to form an agreement to delay gratification. Run a lean ship in order to stay afloat.
Read 9 tweets
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Seun Solaja
@D0uble_ess
Seeing @realFemiOtedola in a molue and reading funny comments made me think about a subject in my #startup class; Crafting an #ElevatorPitch. What if you find yourself seated next to Otedola on a bus. How can you pass your message if he's getting off the bus in 30 seconds? Thread
An #ElevatorPitch is basically a 15-30 second speech that succinctly explains to people who you are, what you do or what you’re seeking. The idea is that you can deliver your pitch to someone in the amount of time it will take an elevator to get you both where you're going
In this case, molue or danfo or train or even okada. 2019 is coming who knows what billionaires will do or where they will go in the next few months, as @OgbeniDipo will say, ji masun #ElevatorPitch
Read 22 tweets
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Davos Man
@TheDavosMan
Just got to Davos. Ready to fill the leadership vacuum with big ideas. My focus will be on privilege and women. Only going to #womanels #methree. Also, my alligator-skin boots got snow on them, anyone have a blow drier or an FT I can use to dry them off?
Thread 1/n: Small ideas feel big when I'm in my Gulfstream, so here it goes: We have to innovate on innovation. The 7th industrial revolution disrupts AND displaces. Artificial intelligence and blockchain can only solve resurgent populism with #compassion.
2/n We elites are critical to making this debate glocalized. Thought leadership also involves thought stewardship. Communities form the core of our economies. Blue collar workers must be re-conceived as #newcollar workers. Code is key.
Read 31 tweets
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Patrick McKenzie
@patio11
Atlas just released my favorite feature yet: tools to help companies incorporated with us navigate tax season. stripe.com/blog/atlas-tax…

Unsurprisingly for someone who filed five tax returns last year in two countries, I was very enthusiastic about getting this done. Thoughts:
I'll never forget my two thoughts when I sold my first copy of software over the Internet: "This is amazing. I hope I don't go to jail."

That's the power that taxes holds over budding entrepreneurs.
Taxes are treated as something like the affairs of obscure and malevolent wizards. There exists a tome of rules. You're forbidden from knowing it. Mispeaking the magic words may turn you into a newt.

This is nonsense.
Read 37 tweets

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