1/ My 2023 fintech predictions 👇

Doom & gloom is the current mood, but exciting things are around the corner – get ready for generative AI to upend financial advisors 🤖; the rise of the expense Super App🦸‍♀️; and Twitter to make 🌊s as a fintech powerhouse. 2/ Lots of people are throwing their hands up and saying fintech is uninvestable right now. After a year in which bellwether stocks dropped 60-90%, that sentiment is understandable.

But, it’s a huge mistake.

1/ Cash App is wildly underestimated by the market, and is disrupting the $1T banking industry.

The big disconnect: what is the brand value of a company that has turned a bank into a pop star? 2/ 2022 has been a tough year for fintechs: the market is down ~50% since peaks in Nov '21, and neobanks like Sofi, Cash App etc have been particularly hard-hit.

Lots of people think the space is overheated...will their popularity outlast the pandemic? Will they ever make 💵??

1/25: Looking ahead -- here are 5 predictions for where fintech goes in 2022.

From Fintech in the Metaverse, to GenZ traders fighting climate change and some transformative M&A, next year will be a watershed moment for the industry. 🧵👇 2/ Before I get into it, let me break down how I did last year. What did I get right?

https://twitter.com/Mark_Goldberg_/status/1341418471846891520

The rise of fin-fluencers ✅
Neobanks outscaling incumbents (Nubank, Revolut) ✅
Multiplayer finance ✅ (Well, through DAOs not TradFi yet)

1/ Nearly 10 years ago, I got laid off from my job on Wall Street. I was blindsided, pissed, and ultimately — free.

It was the best thing that ever happened to my career.

Here’s how I crash-landed from finance -> tech & why setbacks are often the wake up calls we need. 🧵 2/ For some background, I joined a bank straight out of college. I’ve written before about some of the fun moments (working on the Tesla IPO) but it was never the end game and I knew it.

https://twitter.com/mark_goldberg_/status/1292818184588886016?lang=en

1/ In just a few months, Fintech has gone from the Business Section to the Style Section.

How did we go from p2p loans and neobanks to hiphop culture and Miley Cyrus stock giveaways??

🧵: The collision of finance and pop culture is re-writing the playbook for fintechs 👇👇👇 2/ Someway, somehow, fintech has emerged in 2021 as a major influence on culture: in 🎨 (Beeple’s record-breaking NFT sale at Christie’s), 🎼 (Jay-Z on the board of Square) and politics (DeepFuckingValue goes to Congress).

1/ Major milestone for @BuiltTechnology (welcome Lee Fixel!) and a fun one for me - my first Series A at Index.

Built is what the future of fintech is all about -- software meets payments in a $10T industry untouched by tech.

Here's why we invested 👇
businessinsider.com/built-technolo… 2/ The construction industry is huge -- 13% of world output / $10 trillion dollars of annual spend.

It’s also still living in the technological Dark Ages.

McKinsey recently ranked construction 21st out of 22 sectors in terms of innovation — behind mining & gov’t.

1/ Using the end of year to look ahead -- here are 5 predictions around where fintech is heading in the next decade 👇🧵

Prediction #1: By the end of Biden’s first term, at least one of the neobanks will be worth more than Goldman Sachs. 2/ 2020 was a big year for consumer fintech -- signups & engagement went through the roof; valuations for some passed the $10b mark.

Lots of people think this is overheated...how will they make 💸? Aren’t they over-valued? How big can they really get??

1/ With all the recent buzz around SPACs, I thought I’d share my experience working on the IPO for @Tesla (as junior analyst/glorified coffee fetcher) -- where I saw @elonmusk tear up the traditional playbook 10 years before anyone else was even questioning it. It worked. 👇 2/ A little background first -- at 22, I had no business getting a job at Morgan Stanley (liberal arts major/knew NOTHING about finance) but was desperate to work in renewable energy and hustled my way onto their clean tech banking team.