financial services

“For a large swath of the population, they need financial services more. They have fewer options and they're more expensive.”

“Technology steadily drives down prices in sectors like media and in financial services. But technology is not yet driving down costs, ah, in healthcare and education.”

“If I've got a payment card on my phone in software that can be provisioned in software immediately, that changes almost everything about the kind of the whole go to market of how you do financial services. And yes, I can put my Chase card or my Amex card into …”

“The big ones that we're working on right now that we've done some work in that we want to do more in are education, health care, and financial services. And those are the three really big ones that we think are up next.”

“So we are going to see a shift to a totally IP based internet based architecture for all sorts of financial services.”

“We have this expression that we use a lot, which is the battle between the incumbent and the startup, is where the incumbent can get innovation before the startup gets distribution, and this applies to any industry, but especially financial services.”

“Fake it until you can make it, and financial services will land you in jail, versus some of the others.”

“Now this same monumental as a service change is coming to financial services. And as we'll see shortly, it's not just one company, it's multiple companies, because the infrastructure is so complex. But it'll reduce the cost, it'll reduce the complexity, and im…”

“Turns out both of these companies make almost 50% of their revenue through financial services.”

“A great majority of it, I think, will come from companies that are adding financial services for the very first time.”

“And that's because in the not too distant future, nearly every company will be a financial services company and get a significant portion of their revenue from financial services.”

“I believe that if no one in this room changes jobs five years from now, that number will be closer to 80%.”

“But now, in a 25 trillion dollar industry that has long been dominated by suits and lawyers, the power is moving to developers.”

“So I find that in financial services it's not often sufficient to solve part of a problem for a person. But what is sufficient is to solve a complete problem for a very narrow set of people.”

“I think in 2024 will be a significant rise of the developer as the buyer in financial services.”

“Look at Target. I mean, ah, they make more money from financial services than retail.”

“If we come back to financial services, there's a lot of pretty terrible systems of record where smart people have tried to get them ripped and replaced and just, it was just not gonna happen. And my new conclusion with AI is not that they would never do it. It…”

“There's enthusiasm, but I, it's definitely not unbridled as people are very worried about the accuracy, the hallucination, the efficacy of these, and particularly as you start pointing these to customer facing solutions, there's a very high bar on what that's …”

“The stuff that matters for financial services, but also for law, for all of knowledge work, is offline unstructured information.”

“And I realized that the early, like, incredibly, the smartest people in the world, incredibly smart kids, were going and doing the stupidest tasks.”

“Real enterprises have picked up voice so quickly to replace human beings on the phone or to augment what human beings are doing on the phone. Even in really kind of sensitive and critical categories like financial services, because previously they were using o…”

“I like to say, especially in financial services, with that high bar to having a relationship you should probably just buy Google stock or Facebook stock versus investing in most companies because, like, that's where all the money goes. It's like you, like, you…”