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See: Ant/AliPay etc. In the grander scheme, whoever has your attention, is going to want become your financial provider. Just like Google has your attention f
by jariel 6y ago
See: Ant/AliPay etc.
In the grander scheme, whoever has your attention, is going to want become your financial provider.
Just like Google has your attention for search, they become the ad marketplace, they're going to want to financialize as well and displace Visa, banks, and your insurance companies.
There's an Anderssen Horowitz talk on this [1]
I'm not sure if I agree on how efficient or good this will be for net value creation, but 'it's the future'.
Banks and insurance companies should really really take note, because it's not hard to do insurance and mortgages and Google will do that as soon as they can.
[1] https://a16z.com/2020/01/21/every-company-will-be-a-fintech-company/ https://a16z.com/2020/01/21/every-company-will-be-a-fintech-...
- notyourday 6y ago> Banks and insurance companies should really really take note, because it's not hard to do insurance and mortgages and Google will do that as soon as they can. Both require actual customer service and actual paperwork and actual people doing non-sexy jobs. The require licensed sales people. And when one messes up there people go to jail because the "oops" mess up in those industries mean criminal charges. So even if Google is to launch those product them as well as this re-iteration of Google Pay will be a flop for Google as every single other consumer product. It will be killed in a couple of years.