“I think the lesson we have all learned from the internet is one of the big mistakes you can make is underestimating how large a market is going to be.”
quote is from the automated transcript, cleaned for reading:
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More from John Collison
AssertionNot checkable as stated
Collison: Bitcoin consumes 40 times more power than the Visa network
“Bitcoin is kind of inefficient enough that it uses 40 times the power of the Visa network, despite kind of a much lower throughput than the Visa network.”
John CollisonJan 2, 2019▶ 15:33a16z Podcast | The Evolution of Payments
Opinion
Collison: Investors should not short Visa or Mastercard
“If I was an equity investor, there's no way I would be short these companies. Because you have the secular growth of just, like, digital payments.”
John CollisonJan 2, 2019▶ 15:43a16z Podcast | The Evolution of Payments
AssertionContradicted
Collison: Bank credit card fraud models rely on 1960s-era neural networks
“And if you look at how the fraud systems that actually back your credit card work today, what happens is, you know, so you have a chaser bank for America or whatever credit card. And there's a set of neural networks that were trained and you're like, oh, cool.…”
John CollisonJan 2, 2019▶ 16:41a16z Podcast | The Evolution of Payments
PredictionNot checkable as stated
Collison: Software will evolve to create a unified revenue platform category
“The way we see the world, there is no revenue platform right now, and if you look at all the products that we have been building, better analytics on the revenue data that you have in Stripe, a source of truth billing system, things like that, it's moving in t…”
John CollisonJan 2, 2019▶ 9:20a16z Podcast | The Evolution of Payments
Insight
John Collison: No established playbook exists for API-oriented businesses
“As far as we see it, there is not a playbook for building an API-oriented service, and so a lot of that is still emerging.”
John CollisonJan 2, 2019▶ 3:31a16z Podcast | The Evolution of Payments
AssertionNot checkable as stated
Collison: Wish increased mobile conversion by 7% using Stripe Elements
“So Wish is an e-commerce company. They flipped over from a checkout they had built on mobile to Stripe Elements. We spent all this time optimizing a mobile checkout just because it's an interest for us to do and not other people. And they saw a seven percent u…”
John CollisonJan 2, 2019▶ 7:49a16z Podcast | The Evolution of Payments
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