Banking

“Unlike cloud, what I think we're going to see is that companies in commoditized industries, such as insurance or banking, where the products are pretty similar, will not have the opportunity to wait for three years and say, hey, let's wait for those things to …”

“And I think AI maniacs will compete in medicine, law, business consulting, banking, wherever it is, we let them compete.”

“Strangely enough, my biggest allocation soon will be IT services and banking because of the moats these industries sit on. It's the most counterintuitive thing to invest in, in an AI first world, but for somehow for India, I feel like it makes sense. And I can…”

“I actually think AI training will be used next in banking and healthcare, and then after that in, in many other different enterprise contexts.”

“I'd say last thing in boring software is the best software. So anything like you have to have, like, so first thing you do when you start a business, like accounting, payroll, tax, like banking, anything like that, that every business has to have, or incorpora…”

“Got a banking relationship shut down, just out of the blue, and we had to scramble.”

“I don't know a single vertical SaaS company that doesn't want to add some type of banking or fintech product, right? At a bare minimum, they're adding some sort of Payroll, but they're also, they want to add credit, right? They want to add banking. They want t…”

“I suspect that the only way to truly do that successfully is to have people in the local market who take the bones of the thing, who deeply understand what has and has not worked about it, and then shape it around, like, local insights.”

“I think today is very clear that actually if you can write software that people want to use and you can distribute that over the internet, like that gives you leverage like nothing else we've ever seen.”

“Banking for us is really about, it's one of the, it's the number one next to taxes is the number one thing that, that Small businesses are worried about, like, oh my god, I just did a formation, you know, what kind of filing do I, you know, what kind of format…”

“Yeah, anytime, you know, I think banking, consulting, these are often brain drains. The talent, really talented people go there because it's sort of safe and it's like a well-respected path, But if you think about how much, how many more cool, interesting thin…”

“With banking, you can just come and be the bank. And from the consumer point of view, it's relatively straightforward as a consumer experience for that to be your whole banking experience. Whereas from healthcare, it can't be because there's all these differen…”

“And really what this did is it took banking away from something that only a bank could do to something that any company can do.”

“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.”

“Moving from banking to private equity is a big challenge, because in banking, you're really kind of focused on solving problems. Whatever problem is thrown your way in terms of trying to meet this financing need or trying to put these two companies together. A…”

“And certainly if you look at the last 12 years in 2008 is when the venture capital revolution started in India. This is the largest job creating industry in India. It's no longer IT services or banking or something like that. It's the startup industry, right?”

“The risk adjust returns to being in professional service is like, Managing consulting or banking or private equity are great. But you know, because they're great, I view them as like temporary. And so, you know, I'm looking at it and I'm like, in the long run,…”

“You know, to be honest, inherently I tell you that banking is incredibly boring and banking should actually be a background service.”

“We really think the Amazon moment is coming to banking, and I'll talk a little bit more about why and how, but a lot of it is really, it's predicated or it's related to this idea of the physical location being a little bit more of an anachronism than a buildin…”

“So the way that I think about this is that tech companies are actually becoming the entry points to banking. It's no longer the checkbook or the checking account. I mean, that's still very, very important, but I think the balance of power is going to change he…”

“If you don't love it is actually surprisingly easy for people to disappear for three or four hours a day and not really do anything, right? You get rumbled after six months, but it's not like a fight. It's not like being in a bank or being a consultancy or it'…”

“Or a third part path, which is more prevalent, I think, in Europe than in the US, you come in through the ranks of private equity or banking and then come in as an investment side.”

“I probably, you know, when I was a student, everybody would have said, I want to be a banker, and I want to be a consultant. And nowadays, a lot of them say, hey, I want to set up a business”