We’ve closed the first part of a new funding round

[Peter_G]

@N26throwaway

I do like the idea of a good coherent package, and we don’t currently have that from a bank app in the UK to my knowledge.

Oh goodness. Let’s break this down, then I’ll offer my view!

@N26throwaway

After credit, tackling the issue of making investing more inclusive seems like the next logical step.

For Monzo, I’m not so sure. They’re chasing the revenue streams (which is okay) but there really isn’t a compelling vision that underpins everything. Not like Dozens’ spender-to-saver-to-investor journey.

@N26throwaway

The fintech revolution needn’t begin and end with spending.

Feels a bit like a straw argument - who’s suggesting that? We have specialised fintechs that are absolutely tackling non-spending areas. To take investment as an example, that’s what the Freetrades, Nutmegs and T212s of this world are here to do.

@N26throwaway

There’s so much more antiquation out there in the industry that could benefit from a little bit of Monzo’s modernisation.

Can Monzo do better than these specialist apps?

@N26throwaway

Crypto is here to stay, so may as well embrace it than let someone else bet on it and turn out to be right.

There’s much more to say about crypto but not now (tl;dr speculating on crypto currencies is basically gambling; the macro use case is currently only crime; the bigger and interesting issue is the libertarian argument about role of the state and effectively using tech to supersede nation states…) Right now, I think that crypto just attracts the religious

@N26throwaway

this reads like Monzo view Revolut as more their real competition

@N26throwaway

So I’m excited by this

So this leads me on to my thoughts. Which are two!

1. If it’s an integration play (here’s one I prepared earlier) for investments then I’d be all over it. But if it’s not a platform and, instead, a monolith like Revolut is trying to build then I’m out. Let specialists specialise. Integrate. The marketplace idea is still the right one (even if the articulation perhaps wasn’t quite right).
2. Drop crypto (for now). It’ll cause regulatory issues and bring in the ‘true believers’. I’d be prepared to pivot for some of the Web3 stuff - but it won’t be like any of the evangelists think it’ll be.

@kolok

or shares on the stock market like dozens

tbh, I think that a Dozens acquisition would be a good fit. Dump the tech, but the thinking on the societal value for banking, what banks are here for, and innovative financial services is top notch.