Michael and Johnny look at Square and Cash App. We go over its company history, its founders, walk through its products, and its keys to success. We dive deeper into Cash App, how it differentiated itself from competing products like Venmo, and what it means for the larger FinTech ecosystem. Finally, we determine whether it is a Rich Tech or Poor Tech company.
In the News of the Week, Ant Group has proposed becoming a financial holding company, and a Reddit forum has driven GameStop and other stocks' prices through the roof bringing scrutiny to the trading app, Robinhood. Who are they robbing from?
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Recorded Date: Sunday, January 31, 2021
Time Stamps
- 00:00:18: News of the Week
- 00:08:15: Fintech National Tour 2021
- 00:09:21: Founders and History
- 00:17:40: Products
- 00:27:22: Keys to Success
- 00:35:15: Rich Tech Poor Tech
Highlights
- Ant Group has submitted a plan to restructure itself into a financial holding company with oversights by the Chinese regulators
- Reddit's WallStreetBets and their actions on GameStop and other stocks has captured the attention of the world
- Will Robinhood continue to operate?
- Square is an e-commerce ecosystem
- Square had 4 key people from its early days - Jack, Jim, Robert & Tristan
- It has a range of products serving small businesses (sellers) and consumers (buyers)
- What has led to Square's success? Who can take over their turf?
- Square's strategy summary: Never Settle & Be Cool
- Is Square a Rich Tech or Poor Tech company?
- If you outsource a hitman, you're not responsible for the death
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