This new way of winning distribution is quite different from the old way. Yes it’s also capital intensive, but you’re not buying real estate. You have low fixed costs, and variable costs that scale with usage (vs. real estate servicing that you pay regardless of use). And where branch-banking might have had winner-take-all dynamic regionally, there... See more

Focused, quality-obsessed publications will take advantage of bundle economics to collect “stars” and monetize them through some combination of subscriptions (less likely) or alternate media forms. Said media forms, like podcasts, are tough to grow on their own, but again, that is what makes them such a great match for writing, which is perfect for... See more

You can think of a vertical neobank as a checking account + debit card product, focused on a specific customer segment (rather than focused on a broad swath of “consumers”) that solves a money movement problem for that customer segment segment, and monetizes by capturing the balance available to that customer segment at the end of the... See more