payments

“Now, when you think about this online and offline world, there are actually two components that are the plumbing to make the seamless mobile society work, and those two things are payments and QR codes, and they're actually very intertwined in China.”

“Because payments are, they're the most important one because they have the frequency of use. You might pay for things three times a day. Whereas, you know, how often do you pull out your frequent flyer card, or how often do you pull out your insurance card ver…”

“There's some unobvious a priori, but clear a posteriori version of critical mass. And if you don't reach it, you're going to fail. Like there's not really a okay outcomes in payments. You either get there and everyone needs to have your widget or your network …”

“What's surprising about payment area under the curve, if you will, is that, like, the bigger the dollar is, like, the smaller the rake, which I guess makes sense, because you're not gonna get two percent of that 40 trillion dollar payment”

“The convenience just trumps everything else as the total amount you're trying to send goes down.”

“There are no niches and payments that are smaller than a hundred billion dollars, and so that's probably the most surprising thing I've seen.”