Rampton aims to monopolize payments and bankrupt rivals PayPal and Venmo
John Rampton · My Goal is To Put Them Out of Business (Paypal, Venmo). Will He Win? EP 262: John Rampton · Jun 6, 2016 · at 9:02
John Rampton is the founder of Due, an online payments startup. Nathan Latka asks how Due plans to compete with established giants like PayPal, Venmo, and Stripe.
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“You know, ultimately do want to monopolize it and put some of those guys out of business, obviously, or have them acquire us mainly put them out of business. We don't, our goal is not to be acquired.”
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“Like we've already had like one company approach us and be like, Hey, you know, would you guys be interested in selling them? You know, can you know, seriously go down that road to the point where they were making serious offers. I mean, they gave us a lawyer …”
Rampton: Patents inhibit natural human innovation despite being lucrative
“You know, I have a love, hate, Relationship with patents. One, because they've made me a lot of money in the past, but two, I hate them because, you know, I think they inhibit people from doing what they, you know, are naturally bound to do.”
Rampton: Due Processed $4M in Transaction Volume in February 2016
“So transaction volume in February, 2016 was about four million dollars.”