Software will eat financial markets, cut out middle men, and turn investing into an experience from which consumers get more than a financial return. Still, only a relatively wealthy subset of consumers participate in financial markets; for software’s impact here to be truly revolutionary, it will need to increase access and participation in the... See more

Software is eating the markets. Flush with cash and empowered by new tech platforms that blur the lines between investment, experience, entertainment, and digital assets, a segment of consumer investors are shifting money from consumption to investment. Consumer investors expect different things from their investments than professionals do and... See more

Ultimately, leading players want to take over the rest of the finance space leveraging their user base, technology and brand. Payment companies doing loans. Payroll providers starting to act like aggregators of services. Accounting solutions doing planning. Expense management platforms doing procurement.

a bunch of everything apps vying for customers feels less like a race for innovation and more like empires warring over territory. Tech companies are running the same data-hungry playbook with their everything apps as they did in the markets that made them so dominant in the first place. Even OpenAI, which has evolved from a little-known nonprofit... See more