I find it to be nothing of the sort. Tomās saying that thereās a clearly defined customer base that probably wonāt find Monzoās approach suitable for their needs.
Itās no more political than Nissan hypothetically saying theyāre not going to be stealing sales from Rolls Royce with their Leaf model.
If youāre not a millionaire banker, I donāt think youāre in the ā1%ā. Have a listen to this World Service episode of More or Less, thereās an interesting discussion about how focusing on the bottom and top percentages of wealth leaves out the majority of people:
Surely this is a sackable offence? 
Depends what you define as the ā1%ā in this Wikipedia article in the UK you only need wealth of ~Ā£690k+ā¦
pls no 
Not necessarily all those things, but certainly Avios, one of the things Tom mentions.
Was this done by people running the company? I havenāt seen any evidence of thisā¦
Iām certainly not one of the 1%, but I have for many years enjoyed a bit of cashback from my credit cards.
However, Iām considering that if Monzo is/can be smart enough, it might give me insight in to my spending that could ultimately save me an awful lot more than a cashback card rewards me. What I do once I have learned those lessons (go and get my cashback again?) I donāt know. I am keeping an open mind though.
And thatās the risk of generalisations! I get Tomās point, a wealthy investment banker probably isnāt going to be their main demographic.
Yet some people who Monzo wouldnāt expect to be their main demographic (not necessarily wealthy investment bankers 
) will still be drawn to them for being
All which helps towards the goal of 1 Billion customers 
.
Though I do see how generalisations including mediaās insistence on āmillennial monzoā trigger reactions and donāt helpā¦
I got a BA Amex Card in September, approx. 1 year after getting Monzo and use the two together, and even though I track the spending through Monzo by paying back each individual transaction, I definitely find myself spending more each month than I did previously.
Iām far enough in that Iām sticking with it to hit the companion voucher but after that I need to ditch it - itās not good for my savings/health!
Things like the companion voucher/collecting avios make spending seem too much of a target 
for me personallyā¦
Quite a few school headteachers, for example, are in the 1%.
But anyway, weāre drifting off topic ā¦
I think October 31st 
#trickortreat
This is for people on a normal salary, living a normal life.
Our service is relevant to 90pc of the population. Itās not for the 1pc.
FYI, Tomās also doing an AMA over on LinkedIn this week.
Come and drop your questions here:
How is that a typewriter font? Just curious it sure looks proportional to me and I didnāt think any typewriters were proportional? 
it was called that, I presume that is the influence
How odd. Though there were, in fact, proportional typewriters I just learned: https://www-03.ibm.com/ibm/history/exhibits/modelb/modelb_4509PH07.html
I want my points and cashback. Maybe I am just used to the US banking system where even the maid gets points on her purchases.
That seems like a very elitest comment
My point is even people who work minimum wage jobs expect and get points. I worked as a cashier on minimum wage and earned points. If I said cashier would it have been better? How is it elitist to want benefits for the 90% when Tom thinks only the 1% want that
