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Angela Strange

General Partner, Andreessen Horowitz · 2 appearances on the record.

computed by AI from the episodes · how this works → · full disclaimer →

investoroperatorhostathlete@astrange ↗a16z.com ↗

Angela Strange is a General Partner at Andreessen Horowitz, where she invests primarily in financial services, insurance modernization, and AI applications. She previously led product initiatives at Google—including Chrome for Android and iOS—following Google's acquisition of startup Ruba.

43statements → 25claims → 16claims resolved → 63%fully supported → 3.88/5average certainty → 1.84/5average debate potential → ≈4.5/5argument clarity, estimated → 9said about them ↓

10 supported 4 partly supported 2 contradicted 9 not checkable as stated how the 25 claims stand · each chip opens the sources

7 predictions · 18 assertions · 2 opinions · 15 insights · 1 disclosure · every statement was checked. The predictions and assertions are the 25 claims: statements the public record can support or contradict. 16 are resolved, and 9 name no date, number or outcome precise enough to check. Everything else (opinions, insights, what ifs, disclosures) can never be settled by the record, so it carries no assessment.

The record, in short

What the tape says about how Angela argues and how the claims held up. Everything they said, and everything said about them, is in the tabs below.

Their most notable supported claim

Assertion Supported
Nubank's Growth to $35B Proves Initial Valuation Concerns Wrong
“Like, new bank, At a billion dollars, looked pretty damn expensive. What's it worth now? Like, thirty-five billion dollars? Not so expensive.”
Angela Strange Aug 19, 2021 ▶ 27:35 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?

Their most notable contradicted claim

Assertion Contradicted
LATAM Online Payments Grew 100% Month-Over-Month During the Pandemic
“Online payments started growing like a hundred percent month over month.”
Angela Strange Aug 19, 2021 ▶ 21:12 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?

Expressed certainty vs assessment result

none yet certainty 1
none yet certainty 2
75% certainty 3
80% certainty 4
50% certainty 5

weighted support: a fully supported claim counts one, a partly supported claim counts half. Each filled bar is clickable and opens exactly those claims; "none yet" means nothing said at that certainty level has resolved yet

How they sound: speaking style how? →

245 words/min while actually speaking · 0.7 um and uh per 1k words

No argument clarity score for Angela Strange: no usable question→answer exchanges on raw tape (a fair score needs 8+). We do not score a sample that small. Roundtable and news formats yield far fewer direct exchanges than interviews. Their coarse estimate from 30 exchanges on the produced feed is ≈4.5/5, shown at half point precision because the sample is small and produced tape scores higher.

Measured by listening to 10,188 words across 2 episodes, but every recording we have of Angela Strange is the aired feed, and an editor cleaned that audio before release. Some of the hesitation was cut before we ever heard it, so read these as floors: the true rates are at least this high. These are measurements of speaking style, not scores. How it's measured →

How the interview went all their pushback → series average →

Across 1 rated episode:

host pushback ▾ 4/10
pushed back at the host ▾ 2/10
setup questions received 40%

Everything Angela Strange said on 20VC that made the record, most notable first. Filter by type, assessment or year in the ledger →

Insight
Regional Copycats Are Superior Businesses When Local Barriers Create Defensibility
“So I'd flip it as, you know, X For why, if it makes even more sense in that geography with the local flavor, is a better business.”
Angela Strange Aug 19, 2021 ▶ 23:54 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Prediction Not checkable as stated
Local LATAM Fintechs Hold Head Start Over International Entrants
“So any new international player is going to have to go through that same experience, and the local team is going to have a very, very big head start.”
Angela Strange Aug 19, 2021 ▶ 25:25 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Insight
Soaring Round Valuations Are Justified for Market Category Winners
“And if you think that they can be number one, maybe even number two across very, very large categories, then it probably looks expensive at the time, but not so expensive in retrospect.”
Angela Strange Aug 19, 2021 ▶ 28:15 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Prediction Not checkable as stated
Strange: Every consumer and business company will embed financial services
“Similarly, we are going to see, and we are already seeing, an explosion of financial services. Which is new neobanks, new, directly new fintech companies, but then more to the point, all of these consumer companies, all of these business companies are adding f…”
Angela Strange Sep 8, 2020 ▶ 7:59 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Opinion
Strange: Large, profitable businesses will serve the bottom 25% of the economy
“I believe that there are large for-profit businesses that consumers will love that are still to be built that are going to serve the bottom 25% of the economy.”
Angela Strange Sep 8, 2020 ▶ 29:45 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Insight
Fintech Is Default Local Due to Distinct Regional Regulations
“We talk about fintech being default local versus Default Global, because you want to hop from one country to the other, even if it's next door in Latin America, you've got a different set of regulation, a different set of infrastructure, probably a different s…”
Angela Strange Aug 19, 2021 ▶ 7:47 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Insight
International Expansion Without Home Market Leadership Is a Losing Strategy
“Being number five for a business, like being the number five Robin Hood in Brazil, and then expanding to Mexico to be the number six in Mexico, Is not going to be a winning business model. You would much rather be the number one in your country and then expand…”
Angela Strange Aug 19, 2021 ▶ 9:08 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Assertion Partly supported
Top Five Banks Control 80% of Brazil's Market
“So the, like, top five banks have 80% of the market in Brazil, and Serve maybe 10 to 20% of the socioeconomic pyramid.”
Angela Strange Aug 19, 2021 ▶ 12:22 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Assertion Partly supported
Latin American Banks Boast Double the Return on Equity of US Banks
“Layer on top of that, like, the Latin American banks are some of the most profitable banks in the world. So return on equity, a good measure of measuring this, is over 10%, which is literally double that of American banks.”
Angela Strange Aug 19, 2021 ▶ 12:30 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Insight
Acquiring Unbanked Users Is Easier Than Overcoming Bank Customer Inertia
“It's arguably much easier to get a customer that doesn't have a debit card, doesn't have a credit card, doesn't have an investing account, you know, within that kind of middle tier, than it is to get somebody to switch from a product that they're moderately ha…”
Angela Strange Aug 19, 2021 ▶ 17:36 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Assertion Contradicted
LATAM Online Payments Grew 100% Month-Over-Month During the Pandemic
“Online payments started growing like a hundred percent month over month.”
Angela Strange Aug 19, 2021 ▶ 21:12 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Assertion Supported
Nubank's Growth to $35B Proves Initial Valuation Concerns Wrong
“Like, new bank, At a billion dollars, looked pretty damn expensive. What's it worth now? Like, thirty-five billion dollars? Not so expensive.”
Angela Strange Aug 19, 2021 ▶ 27:35 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Insight
Terrible Employees Often Make Fantastic Startup CEOs
“Terrible employees often make fantastic CEOs.”
Angela Strange Aug 19, 2021 ▶ 30:03 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Disclosure
Passing on Nubank Was Angela Strange's Most Painful Investment Miss
“Oh, so many, but just the Latin American most painful one is NewBank. And this was early in my career in venture when I hadn't spent that much time in Latin America. And it seemed like a relatively high check at a relatively high valuation. And I didn't know t…”
Angela Strange Aug 19, 2021 ▶ 30:06 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Insight
Strange: Fintech competition is incumbent innovation versus startup distribution
“The battle between the incumbent and the startup is whether the incumbent can get innovation before the startup gets distribution. And that applies to any industry, but it applies especially to financial services because getting customers is so damn difficult.”
Angela Strange Sep 8, 2020 ▶ 10:56 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Prediction Not checkable as stated
Strange: Personal financial lives will become increasingly automated
“And as we get better at this, and as consumers start to trust new software companies more, I think our financial lives will become more and more automated and just optimize in a much better way.”
Angela Strange Sep 8, 2020 ▶ 14:15 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Opinion
Strange: Carta is uniquely positioned to build private securities exchange CartaX
“The vision for Carta X is right now you can be public and very liquid and private and very illiquid. What would be the platform or the stock exchange, so to speak, of private and liquid? And who best execute on that than the company that has the system of reco…”
Angela Strange Sep 8, 2020 ▶ 17:28 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Insight
Strange: Fintech unbundling requires a high-pain-point wedge for CAC efficiency
“You can't just unbundle, pick a product and go. You've got to find a high consumer pain point wedge that is going to enable to get you customers cost effectively.”
Angela Strange Sep 8, 2020 ▶ 21:52 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Prediction Not checkable as stated
Strange: Banking rebundling will take entirely new forms than legacy models
“The unbundling and rebundling in banking still has a long road to go, but we won't see things rebundled in exactly the same way.”
Angela Strange Sep 8, 2020 ▶ 23:25 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Insight
Strange: LatAm banking will be delivered via mobile, not bank branches
“So I've got a few investments down there. I hope to make more. If you wanted one chart, you would look at credit card penetration per country. So let's take Columbia where I have a great team there. It's about 14%. It's been stagnant for years. Smartphone pene…”
Angela Strange Sep 8, 2020 ▶ 31:05 20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders Should Think About Niches and Optimal Insertion Points, How To Transition To Become The System of Record & Are We Entering A Period of Bundling Or Unbundling for Fint
Prediction Not checkable as stated
LATAM Fintech Disruption Will Take Longer Than in the US
“I think in Latin America, it's going to take a little bit longer for a couple of reasons. One, they haven't felt yet as much of the competition, I would say, from the earlier fintechs”
Angela Strange Aug 19, 2021 ▶ 16:56 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Assertion Not checkable as stated
Casai's Unit Economics Benefit From Lower Operational Costs in LATAM
“The complexity of serving the operations is a lot higher, but the cost for it a lot lower. So your unit economics, if you're Kasai, can be that much better, right?”
Angela Strange Aug 19, 2021 ▶ 23:37 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Assertion Supported
LATAM Raised $10B in Venture Capital Last Year, Half in Fintech
“There was close to, I think it was a nine or ten billion dollars of venture funding poured into the region just in the last year. Half of that was fintech, by the way, right?”
Angela Strange Aug 19, 2021 ▶ 26:34 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?
Insight
Local VCs Outperform Global Firms in Local Markets and Hiring
“Local investors are going to know How to help better with recruiting. They're going to know better the nuances of local markets. Like there's lots of things that they will do better than international VCs.”
Angela Strange Aug 19, 2021 ▶ 28:53 20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Serving the Unbanked is Such Good Business & Whether the Startup Will Acquire the Distribution before The Incumbent Acquires the Innovation?

Show 19statements(19 left)

The other half of the tape: Angela Strange's own voice is left out of every number here. Other people bring the name up 9 times in 5 episodes on 20VC. every mention, with the transcript →

Who brings them up most Harry Stebbings 8Mamoon Hamid 1

Every mention by year

tap a year for its mentions
003152201920202021202220232024episodesmentions
012201920202021202220232024episodes it came up in
002.5152201920202021202220232024episodesmentions per episode
2024 1 mention in 1 episode
2022 1 mention in 1 episode
2021 2 mentions in 2 episodes 1 per episode
2019 5 mentions in 1 episode

Appearances (2)

EpisodeDateSpeaking time
20VC LATAM Part 2: a16z's Angela Strange on When To Expand Beyond Your Core Market, Why Se Aug 19, 2021 25m
20VC: a16z's Angela Strange on Why Every Company Will Be A Fintech Company, How Founders S Sep 8, 2020 21m
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