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This week, Pete and Eoin take look at what to do about the condemnation of Big Tech’s alleged monopoly powers according to US lawmakers, the catch-22 of consumer fintech, Apple One and ‘Rundles’, getting something from VCs if not a check….and godspeed, Eddie Van Halen.
THIS WEEK’S STORIES:
House Lawmakers Condemn Big Tech’s ‘Monopoly Power’ (NY Times, 6-Oct-20)
· Do you break up Big Tech (Google Amazon, Facebook, Apple, Microsoft) by geography or by product line?
· Is financial services the Mr Burns-slash-Dr-Evil strategy for Big Tech? No, I think it was more about monetizing their user base.
· By being so big, Big Tech create an exit strategy for tech startups – if Big Tech is broken up, will it significantly impact your eventual exit plan?
How to design fintech for prime users? Embrace complexity (a16z Fintech Newsletter Sep-20, Anish Acharya)
· How does fintech address the complicated financial lives of those with too much wealth for their financial life to be simple, but too little wealth to pay someone to manage it for you?
· If I’ve had a long career and always invested with traditional players, I do probably want someone to talk to. If I’m a bit earlier on in my career and made my money on tech, I’m probably more open to managing things mostly through an app.
Apple One (15-Sep-20, Apple.com)
· Apple One now offers customers Apple Music, Apple TV+, Apple Arcade, iCloud, and more services in one simple plan.
· ‘Rundles’ - recurring revenue bundles - where challenger banks and consumer fintech need to go, managing your entire lifestyle through a single app.
The Winning Psychology of Top Founders in Fundraising Meetings (NFX, James Currier, 8-Sep-20)
· Pete and Eoin each pick their top 5 questions from NFXfor founders to ask VCs, as 90 percent of pitch meetings don’t lead to a check, and it’s better to get insights than a bag of rocks.
Eddie Van Halen fans remember his work on Michael Jackson’s classic hit ‘Beat It’ (NME, 7-Oct-20)
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Husband, father, son, brother, founder of Norio Ventures, advisor, non-executive director, podcaster and self-proclaimed rockstar of financial services.
