I agree with that.
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It’s one of the most jarring things in the coverage of the new banks, and a lot of stuff on here, that it’s a zero sum game, and only one can survive, it’s just not.
In the same way that profitability has to be achieved at some defined point (yes I know you can’t keep losing forever). If investors and customers have faith in the business, then you’ll get there in time, Amazon took 14 years to return profit, Uber never have, and Slack have never made a pennies profit and have been brought for $20bn.
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I have not seen anything that suggests that. Do you have some examples, please?
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I think you’ve maybe over simplified some things re profitability there. The companies you list all had very different products. Uber, for example, had a profitable model, the losses came from the money it was spending on aggressive expansion. Facebook was amassing unprecedented amounts of valuable data so it didn’t matter so much if they didn’t know what to do with it.
Monzo isn’t Facebook or Uber though. It really does need to show it can produce a profitable business model sometime soon. And Monzo knows this too, read any of their business reports , statements etc and they are hellbent on achieving net profitability. This is the right approach, their investors won’t fund a business that has no clear route towards making money.
Once they hit net profitability I expect them to start to run at a loss as they continue to raise for aggressive expansions into other markets. But that’s a different situation to the one they are in now.
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I’m intrigued, seen a few people that say they don’t trust Revolut, what makes you say this? I haven’t looked into it at all but seems to be a common opinion!
I have to say, this was my first thought too. It felt like it was saying that my chocolate teapot company will be a great success because Cadbury’s made a huge success of selling chocolate and Emma Bridgewater are profitable and successful making teapots. If there was some good banking examples then great, but otherwise it doesn’t seem like it really makes sense. But that’s just my opinion obviously, perhaps I’m wrong.
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As I said, you can’t keep losing forever, and there will be a day I suspect sooner rather than later where Monzo will be in profit. As for those companies, I just took three tech companies who got there in the end but had products that investors think will one day (I don’t think Uber will be until they focus more on data/driverless cars than the existing model) make returns.
Anyway, Monzo in profit in 2022 I reckon, and time my hope for 2021 is improving the product and a lot more above the line marketing to drive revenue.
Completely agree, although the new Starling app UI that’s in beta is much better than the old one (still not as good as Monzo’s).
I also find the Revolut app more difficult to navigate than the Monzo app, but not as difficult as Starling’s app.
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Unlike you, it doesn’t worry me to lose my shares in Monzo. I don’t look through my shareholder glasses, I look through my customer glasses, and I see a bank that I don’t wish to bank with anymore. What I’m trying to say is I wouldn’t promote Monzo because I’m a shareholder and I’m not worried about my investment like some other people are. Rather I comment on things as they are without looking through my shareholders goggles. If you can’t afford to lose some money and you haven’t really got any money in the first place. Personally if I lost my £500 initial investment in Monzo I wouldn’t give a damn, what I’m upset about is I’ve just spent 20 minutes on the phone to Monzo, and got cut off after each 10 minute section. I can’t find the chat feature and I’m not a happy bunny. And I don’t care about my shares I will tell it how it is.
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No, you are not my thought police. I have a right to be negative about a bank that is performing poorly. I will be positive when there’s something to be positive about. I am not a Monzo junkie. Funny that because I can get through to Barclays straight away?!, Funny that because I can get through to Starling? Funny that because I can get through to American Express instantaneously?
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I’m all for a bit of banter but that seems inappropriate. There was no specifics or timescales given so it hardly seems out of the ordinary that someone would need to contact each of their banks for something once.
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Did you forget that you said the below 
and…
For someone that doesn’t care about losing their shares you do mention them a lot - both wishing and praying that you can sell them before they become worthless 
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btw What’s going on with this notification on this “topic”/thread? Others seeing it? New Discourse feature to help avoid threads being flagged to closure?
I’ve not even posted on this thread until now
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1984 
If they want to improve discussion then make it so you can only flag once every 15 minutes instead.
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so does this mean I cannot post until 15 minutes after the last person?
edit… No, it looks we can only post once every 15 minutes
So we can still argue and fall out, but we just drag it on for longer now 
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That’s just plain stupid 🤦
I don’t think it’s a terrible idea. Hopefully it’ll stop the usual suspects trolling.
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