Rex Salisbury - Latest News and Information
Schwab pays ~20 bps on cash. Wealthfront pays 330 bps. Schwab keeps 290 bps. Wealthfront keeps 60 bps. Craziest part -- both have ~36% net income margins. The ops heavy, extractive incumbent model and the tech powered client-aligned model converge at the same profitability. NIM is dead. The incumbents just don't know it yet.
Our mortgage system sucks. One under appreciated reason why is that it reduces labor market flexibility. People won’t move to a better job b/c they are locked into a low priced mortgage. Here’s the danish fix:
Hot take — Costco kicks the crap out of cloud kitchens. Feeing a family of 5 for ~$25 inclusive of delivery. Costco is sitting on a gold mine. They have quite limited selection for the prepared meals, and honestly, they could...
Why did Capital One then move faster than a startup to close a multi-billion dollar deal? (0:00) Largest Bank Deal in History? (1:31) How to Close a $5B Deal in 30 Days? (2:51) Is Silicon Valley Missing the Growth Story? (6:23)...
VC IRR decay for 2017 and 2018 has been bad. And this was before the SaaSpocalypse. IRRs driven by big positions held at last round valuations. What would they look like at true fmv? https://t.co/sLIC9dcEyo
Mercury charges for a bank account while others give it away. Immad Akhund explains why Mercury Personal targets the mass affluent—and what that says about fintech’s next fight. (0:00) Why Charge for a Bank Account Now? (0:23) Akhund: Who’s the “Mass Affluent”? (0:56)...
Big quarter for figure: - 50% marketplace → they've become a fintech platform, not a lender - 19% first lien → they've entered a market 32x larger than their original one (HELOCs are $400 billion Market. 1st lien mortgages are $13...
pretty dope release from @stripe. add 1 line of code: {managed_payments: { enabled: true } and boom merchant of record is live don't have to worry about - sales tax - fraud - disputes
