Tweet

https://twitter.com/rex_woodbury/status/1382527103661330432

@AcquiredFM

More from @rex_woodbury

Rex Woodbury

@rex_woodbury

16 Apr

1/ Cash App overtook Venmo by embedding itself in culture and by targeting *all* of America, not just NYC, SF, and LA.

Over 200 hip-hop artists have name-dropped Cash App in their songs—the app has captured the zeitgeist in a way that Venmo hasn't been able to.

👇👇👇👇👇👇

2/ Venmo had the headstart, founded in 2009 to Cash App's 2013.

The founders wanted to pay each other for a weekend trip without writing a check, and figured they should be able to use SMS

It was a similar insight to the one PayPal had a decade earlier with payments over email.

3/ Cash App was created by Square in 2013 and operates like a startup inside Square.

While Venmo took off in big cities like NYC and LA, Cash App focused on the South.

Payment network effects are often hyper local: you sign up for the app that your friends are using.

Read 9 tweets

Rex Woodbury

@rex_woodbury

16 Apr

1/ Survey of Gen Zs—66% prioritize financial stability over doing something they enjoy. This is a pretty stunning reversal from the Millennial mindset.

We're seeing the ripple effects of a generation that grew up during the financial crisis.

(Source: XYZ University)

2/ In David Brooks' words:

“Children can now expect to have a lower quality of life than their parents, the pandemic rages, climate change looms, & social media is vicious. Their worldview is predicated on threat, not safety.”

3/ This worldview built on threat instead of on safety is clearest in young people's distrust of institutions & companies.

Many watched their parents work within “the system” and be promised good lives and stable jobs—only to be laid off during the recession or pandemic.

Read 6 tweets

Rex Woodbury

@rex_woodbury

14 Apr

1/ Different mediums lend themselves to different people.

FDR was successful in large part because of radio. If TV had existed, he likely wouldn't have been president.

JFK was elected largely *because* of television. Same with Obama and social media.

More examples 👇👇👇

2/ Radio was built for FDR. He had a calm, soothing voice and a knack for connecting with the American people.

Even before running for president, FDR used radio to host monthly chats with New Yorkers while governor.

Meanwhile, virtually no one knew that FDR was in a wheelchair.

3/ Two decades later, JFK used TV to fuel his rise. JFK's good looks, youth, & charm made TV the perfect medium for him.

Much of JFK's campaigning was done on TV, and he was acutely aware of its power.

Five days into office, he delivered the first live press conference on TV.

Read 9 tweets

Rex Woodbury

@rex_woodbury

14 Apr

1/ I continue to think that Baby Boomers are tech's most underserved demographic. Huge market + decades-long tailwinds.

Every day, 10,000 people in the US turn 65. By 2040, 1 in every 5 Americans will be over 65, and 50% of the population is already over 50.

2/ Baby Boomers are already the wealthiest generation in history, collectively earning double that of the “Silent Generation” above them. Boomers control 70% of U.S. disposable income and 50% of U.S. consumer spending dollars.

Yet just ~5% of advertising dollars target Boomers.

3/ And they're underratedly tech-savvy.

Boomers make up a third of all internet users, 90% have a computer, and 70% have a smartphone.

30 million US Boomers call themselves “heavy Internet users"—roughly defined as using the Internet for 15 hours or more each week.

Read 4 tweets

Rex Woodbury

@rex_woodbury

9 Apr

1/ In 1957, Walt Disney drew his company's strategy (sketch below). It centered around content: good content fueled parks, merchandising, film & TV etc, all powering Disney's flywheel.

Disney has stuck to this strategy for 64 years, while also evolving to fit a changing world 👇

2/ I'm fascinated by how deeply Disney is embedded in culture (all around the world) & by the emotional reaction to the Disney brand. It all comes down to its characters & stories.

Disney's beating heart is its content—for example, *all* of these characters are owned by Disney:

3/ Disney is at its best when it's producing high-quality IP. Its 90s resurgence was driven by fresh stories:

1989: Little Mermaid
1991: Beauty & the Beast
1992: Aladdin
1994: The Lion King
1995: Pocahontas
1997: Hercules
1998: Mulan
1999: Tarzan

Read 8 tweets

Rex Woodbury

@rex_woodbury

7 Apr

@GetJuice

1/ One of the biggest misconceptions about the creator economy is that it’s just a consumer trend. But if creators are the new businesses, they need the same B2B infrastructure. @GetJuice is building it.

Short thread on fintech + the creator economy👇
digitalnative.substack.com/p/the-intersec…

2/ The term "creator economy" became more popular recently, but the phenomenon isn't new. It traces its roots to YouTube.

YouTube transformed culture by letting anyone produce and distribute online video. The floodgates were open, and a new creative class seized the opportunity.

3/ YouTubers were actually first called “YouTube Stars”, but that rang hollow. YouTubers weren’t just the talent on screen; they were the director, writer, producer. They weren’t the vessel through which art was delivered, but the creator manifesting it.

Read 10 tweets

Share this page!

Rex Woodbury

Try unrolling a thread yourself!

More from @rex_woodbury

Rex Woodbury

Rex Woodbury

Rex Woodbury

Rex Woodbury

Rex Woodbury

Rex Woodbury

Did Thread Reader help you today?

Like this author's thread?