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Fintech trading poorly. Also Brex didn't successfully make the AI pivot like their competitors at Ramp
by htrp 9mo ago
Fintech trading poorly. Also Brex didn't successfully make the AI pivot like their competitors at Ramp
- toomuchtodo 9mo agoFintech exuberance was a symptom of zirp. Brex enabled more credit to folks who couldn't otherwise get credit without a personal guarantee. Zirp and exuberance is over at this point in the credit super cycle. AI doesn't help those fundamentals. Valuations are trending towards fundamentals (based on interest rates, discounted cash flows, etc). Capital One is paying a fair price for the customer base and infra imho to add to their business customer portfolio. Congrats to Brex et el on their incredible journey.
- solumos 9mo agoFintech of that cohort is trading poorly, if they haven't found a way to survive post-ZIRP. Many have not.