The Ledger
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Venture capital will become significantly more model-driven over the next five years
“I think that five years, I think that'll get challenged over the next five years. I think people will become more, more model driven, more data driven, more rigorous about that.”
Granade: Fintech disruptors struggle economically without incumbent bank advantages
“Mostly what those companies are is they have a tech advantage, but they don't have access to customer advantage, and they don't have any sort of cost of capital advantage like a bank does and things like that, and so they've built technologies that people like…”
The line between financial services and consumer experiences will increasingly blur
“Globally, we also have a thesis that is that around this idea that the distinction between financial services and Other consumer experiences, that border is going to blur.”
Granade: Thesis-driven domain expert venture investing produces better returns
“They have strong theses and views about how companies are going to get built and how money is going to get made, and that really drives our process, and I think it produces a better approach to investing, meaning like I think it produces better returns.”