Every (founder) story I’ve ever heard about PayPal goes something like: “there we were, the only people who offered a service that let people send money, and we had the genius to figure out people wanted to do that.” Nobody ever explains *why* they were the only such service.
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I know. But the crazy thing is that it wasn’t cryptocurrency that changed things. Where were the Stripes and Squares? Seriously, what was holding them back?
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Stripe was founded in 2009. Square : 2009. Venmo — guess when? 2009. What happened in 2009 that suddenly saw multiple companies all diving into this lucrative space, but not say 2008 or 2007?
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People who were professionally involved with it would not necessarily agree with that perception. There was a rash of innovation in e.g. shareware payments processing and then consolidation by Digital River, etc etc, while the industry gradually got America OK with CCs online.
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