Speaking on the general topic rather than any specific example, I think tech folks should remember that e.g. passive asset management only overtook active management after more than a generation, despite objectively clocking it for basically the entire interval.
I have this intuition that companies that monetize their userbase's lack of napkin math are usually on the way out (due to a necessarily broken relationship with the profitable user), but I'm not confident that's not just wishful thinkinghttps://twitter.com/kaarmann/status/1150013629108039680 …
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This is roughly what it means to be disruptable. "Your margin is my opportunity" – Bezos The market will come "fix" the broken relationship by competing for that margin in a way that shrinks it, hoping to create a moat by other means.
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Types of moats in general are a longer thread. In the remittance space specifically, the big ones mostly have to do with entrenchment. Regulation – it is expensive and difficult to be licensed, compliant w strict laws. Know Your Customer (KYC), Anti Money Laundering (AML), etc.
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Note study was focused on international payments, and paid for by TransferWise. Anyone have a good independent look at consumer/SMB/domestic fees?
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Also....
@PayPal “limits” accounts without warning or reason other than vague “you violated user agreement” responses. 180 days, I can’t access 5 figures of $. They said if I want a response, I have to send a subpoena.#PayNotMyPal -
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I haven't used them in a long time. I didn't even like selling on Ebay because the company hits you twice with fees
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Paypal has about 65% of the market of on-line payments. The other competitors mentioned in the comments hardly even register. Who would use Paypal if they were not already so entrenched? (Same goes for people tolerating the ills of Ebay, Youtube, etc.)https://www.datanyze.com/market-share/payment-processing/paypal-market-share …
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That's been true of Paypal for a decade and a half, if not longer; in college, I foolishly used Paypal to let someone pay for a writing assignment and ultimately ended up suing Paypal in small claims court. Never again.
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These aren't branded in a way that's apples to apples. PayPayl vs TransferWise is offering the same product at a lower price. Active management is selling alpha (relative outperformance), passive management is selling beta (get the "average", whether that's true or not)
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