The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 21 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Databricks rejected a $10M on-premise deal from JPMorgan to stay cloud-only
“They're like, we'll give you ten million bucks to put this, and at the time, we're less than a million, like our whole first-year target's like ten million, to put it on-prem. And Ali was like, no way, we're not doing anything on-prem.”
Rampell: Wealth management will be the financial sector least disrupted by AI
“I actually gave a, I gave a talk to the exec team at JP Morgan about this, right? They're like, you know, what part of our business is going to be, you know, least touched by AI? And I said, you know, wealth management, right? Because what is wealth management…”
O'Driscoll: Chime's valuation is capped at $11B by US bank efficiency
“Now it's at eleven billion dollars, despite the U.S. Being, you know, I don't know in the day, 10 X larger GDP country, it's, Chime is only an eleven billion dollar market cap company because, and I think that speaks to They were playing in a less profit-rich …”
Frankel: Strong post-election IPOs will trigger a broader public market reopening
“I think pre-election in the US, IPOs are pretty much closed for now. I think post-election, one or two or three great IPOs, every single, you're going to have like this swarm of JP Morgan and Goldman Sachs bankers coming to tell you, like, it is open.”
Wang: JP Morgan's internal data is 150 petabytes versus GPT-4's sub-petabyte dataset
“JP Morgan's proprietary internal data set is a 150 petabytes. The GPT-IV was trained on an internet data set that was less than one petabyte.”
O'Driscoll: Enterprise buyers like JPMorgan will not 10x software purchase budgets
“One would be, oh, and the world spent 10 times, they continue to buy software at the same price, and they spend 10 times more on software, right? If you believe in that, you believe in the tooth fairy, right? And there will be some increase in that, but it's n…”
Katz: ClickHouse extended its financing despite having $1B on its balance sheet
“And so we did a financing earlier this year, and then we extended it and brought in some strategic investors like yourself and David Sachs and Michael Dell and JP Morgan. We didn't need the capital. We had a billion dollars on the balance sheet.”
Siemiatkowski: US incumbent bank apps are significantly better than European ones
“If you take your Amex app in the US and compare it to one here, it is significantly better there, right? Your JP Morgan app is significantly better. So the financial institutions in the US are just better.”
Revolut Founder Nikolay Storonsky Stated His Goal Was to Beat JPMorgan
“I asked Nick, like, what's, what's your ambition? Like, what keeps you motivated? And at the time he's, you know, worth quite a bit of money already. So, you know, what gives us, what drives him, right? And he told me he wants to beat JP Morgan.”
Mignot: Nik Storonsky targeted building a company larger than JPMorgan Chase
“Like, you know, eventually he thinks, he's convinced there is, there will be one global money app, and that he can be that one global money app that could be better, you know, bigger than, you know, when we first met, he wanted to be bigger than JP Morgan.”
Ackman: Pershing Square holds fund cash in U.S. Treasuries to avoid bank risk
“Other than cash we need for daily needs, we keep that number pretty small everything else is in a U.S. Treasury money market account, or we own U.S. Treasury bills directly. So we're not taking bank risks, we're just facing the U.S. Sovereign. And then the cas…”
Reses: Founders should transfer funds to systemically important banks
“If it were me, I would be moving money to Citigroup, JP Morgan, Truist, you know, those kinds of companies, you know, but that's me personally.”
Weitzman: SolarCity succeeded as a financial innovator, not tech innovator
“SolarCity was not a technology company. They were a finance company that had convinced, I think it was JP Morgan, to amortize the value of a solar panel over 30 years, and they got them to underwrite the value of that.”
Hult: Jamie Dimon sets the benchmark for ego-free client engagement
“He's amazing with clients. Like you talk about a guy that can kind of flip the switch from, you know, he's the most well-regarded esteemed person in a lot of ways at that event. He makes it all about his engagement with You know, with JP Morgan's clients, his …”
Velez: Nubank's Brazilian market penetration exceeds JPMorgan's in the US
“I don't think JP Morgan can say that about customers of theirs in the US.”
Dubugras: Ramp was Brex's first insurgent competitor after legacy financial incumbents
“Ramp was always, like, something super interesting for us because it was the first competitor that was, like, an insurgent. Someone who was coming and growing that wasn't like the big guy, JPMorgan and American Express.”
Wilkes predicts Chime, Robinhood, Varo, and Current will become major players
“I think JP Morgan is not going away, but Chime, Robin Hood, Varo, Current, these companies are going to be significant players in their own right, and the growth rates are phenomenal, and that will continue.”
Quattrone: Qatalyst Launched Two Days After Bear Stearns $2 Sale
“We started our firm in March of 2008 and it was two days after Bear Stearns was sold in a forced sale for two dollars a share to JP Morgan and Bear Stearns had been trading at a 150 bucks a share a year earlier.”
Ed Sim: JPMorgan Chase spends $1 billion annually on cybersecurity
“And JP Morgan, for example, spent a billion dollars a year in cybersecurity.”