Insight certainty 4/5 debate potential 2/5

Executing secondary share sales allows private technology companies to postpone going public

Taavet Hinrikus · 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future? · Dec 9, 2018 · at 16:45

TransferWise co-founder Taavet Hinrikus discusses how providing employee and investor liquidity through secondary transactions alleviates pressure to go public.

0:00 / 0:06exact quote · 6.6s
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“If we, if you think about the world today, then, you know, doing secondaries is definitely a way to push it further out.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Taavet Hinrikus

Opinion
Too many venture-backed startups operate on unsustainable unit economics
“There are many, you know, I would say way too many companies outside Sort of being funded by venture dollars that will never break even. You know, it's kind of ridiculous that you can order an ice cream, pay one dollar for it. It'll get delivered to you in 15 …”
Taavet Hinrikus Dec 9, 2018 ▶ 10:00 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future?
Prediction Not checkable as stated
Brexit will only increase the amount of cross-border money flowing on TransferWise
“I mean, if anything, Brexit will only increase the amount of money flowing, I would say.”
Taavet Hinrikus Dec 9, 2018 ▶ 22:15 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future?
Assertion Not publicly verifiable
TransferWise has captured over 15% of the UK money transfer market
“So in UK, we have more than 15% market share.”
Taavet Hinrikus Dec 9, 2018 ▶ 6:33 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future?
Assertion Supported
Banks hide 3% to 7% fees in foreign exchange rates
“Typically, banks hide a fee between three, four, five, six, seven percent in the exchange rate.”
Taavet Hinrikus Dec 9, 2018 ▶ 2:53 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future?
Assertion Supported
TransferWise employs 1,200 people and processes $4 billion monthly
“Today we're a team of 1200 people around the world moving 4,000,000,004 billion dollars every month.”
Taavet Hinrikus Dec 9, 2018 ▶ 6:13 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future?
Assertion Partly supported
TransferWise became the first non-bank granted direct access to UK Faster Payments
“And no one else has been added to Fast for Payments since then until we became the first new member and first non-bank to be added.”
Taavet Hinrikus Dec 9, 2018 ▶ 11:52 1233 With 4m Customers, $4b Transfered Every Month, is Transferwise The Cheaper Bank Of The Future?
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