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Fintech Nexus Staff
JoinedMay. 30, 2017
Articles5,303
Comments63
This piece was created by one of our content team members. Reach us at [email protected]
augmented realityMetaverse / xRreal estate tech
·Aug. 12, 2019

Real Estate Tech brokerage Compass earns its $6.4 billion valuation from smart arbitrage

I examine how $6.4 billion real estate brokerage Compass stacks up against the digital wealth and lending companies with a similar go-to-market strategy, and provide some ideas as to why it is successful. Compelling questions also emerge when looking on how technologies like AR/VR are commoditizing the property brokerage experience. Compass, a residential real estate startup that built out a platform for brokers -- proprietary and external -- and has recently raised $370 million at a $6.4 billion valuation. I found the language and positioning sort of eery, in how similar it was to the story in industries I closely follow. It even bought a CRM earlier this year, not unlike AdvisorEngine buying Junxure, or Salesforce getting into financial verticals. What I did find unusual, was the absolutely massive valuation.

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Peer to Peer Lending
·Aug. 12, 2019

Prosper Releases Prosper Invest Mobile App

Back in June 2016, Prosper released a new modern look for their website. Since then, the company has changed little...
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Peer to Peer Lending
·Aug. 6, 2019

LendingClub Discusses National Bank Charter, GreenSky Exploring Sale

Today LendingClub reported their Q2 2019 earnings. Highlights include record loan originations of $3.1 billion, up 11% from the prior...
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cybersecuritymicroeconomicsphilosophy
·Aug. 5, 2019

Losing our Sacred Data – how to make sense of Capital One, Equifax, and Facebook

Capital One recently suffered a data breach resulting from poor security practices that exposed 100 million credit card applications and accounts. They expect the breach to cost the company $150 million. Two years back, Equifax lost 140 million identities, again from poor security practices. At the time, I said that according to GDPR this should cost them $150 million. They have since settled for about $600 million -- though some of that seems to be in-kind services coverage like free credit monitoring (lol!). Separately, Facebook has settled for a $5 billion fine associated with the Cambridge Analytica privacy "breach".

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Peer to Peer Lending
·Jul. 29, 2019

OnDeck Pursuing Bank Charter, Loses Chase

OnDeck had some pretty interesting updates in their earnings release which took place earlier today. CEO Noah Breslow shared that...
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artificial intelligenceDAOsNFTs and digital objectsphilosophyvisual art
·Jul. 22, 2019

What Finance can learn from the Evolution of Beautiful Artificial Intelligence Art

However, mastery is not immune to automation. As a profession, portraiture melted away with the invention of the Camera, which in turn became commoditized and eventually digitized. The value-add from painting had to shift to things the camera did *not* do. As a result, many artists shifted from chasing realism to capturing emotion (e.g., Impressionism), or to the fantastical (e.g., Surrealism), or to non-representative abstraction (e.g., Expressionism) of the 20th century. The use of the replacement technology, the camera, also became artistic -- take for example the emotional range of Fashion or Celebrity photography (e.g., Madonna as the Mona Lisa). The skill of manipulating the camera into making art, rather than mere illustration, became a rare craft as well -- see the great work of Annie Leibovitz.

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Chinacivilization and politicsventure capital
·Jul. 19, 2019

Big Fintech: LSE’s $27B for Refinitiv, Softbank’s second $108B vision, Ping An’s $160B Revenue

Fintech is expensive. Fintech is everywhere. If you are a thinking about starting a financial services company, and it does not have technology at its core -- don't. You will lose to someone similarly positioned building a more augmented business. Fintech is the global competition for regulation, talent, and macroeconomic supremacy. Fintech is the trade war between the US and China. Fintech is Facebook and Amazon. Fintech is the next bubble to burst. Fintech has burst already.

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artificial intelligencedigital transformationneobankphilosophy
·Jul. 15, 2019

Deutsche Bank to fire 18,000 people while Amazon upskills 100,000

Today's corporations and governments are in the business of defining the balance of these aspects of our participation in society and the economy. Beliefs about the immutability of different attributes about what makes a person (or an employee) and how economies are built (cutting the pie, vs. growing the pie) determine the policy decisions you make, top down. As the core example this week, let's take Deutsche Bank. Facing pricing pressure and headwinds in several of its businesses, Deutsche is responding with a plan to fire 18,000 employees by 2022 and an announced investment of €13 Billion in technology and innovation by 2022. They even spun up a hipster-colored neobank as a proof point. Wall Street ain't buying it.

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Peer to Peer Lending
·Jul. 11, 2019

New LendingClub Account Performance – Q2 2019

In April 2018, LendingClub provided us with $5,000 to open a brand new account. Since then we have been chronicling the status...
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augmented realitybig techdigital lendingeCommercemarketingMetaverse / xR
·Jul. 8, 2019

Google and Amazon’s mixed reality advertising could become digital lending and payments platforms

Finance is everywhere, and everywhere is finance. Smart city supply chains, self driving car insurance, video game real estate markets -- no matter which frontier technology you touch, it will have embedded implications on the delivery of financial services. And why wouldn't it? Like the use of language, finance is a human technology that allows societies to coalesce and compete with one another (in the Yuval Harari sense). It lifts people out of poverty and into entrepreneurship through microloans, providing generational sustenance for their families. And of course it also throws them into pits of corruption and greed, as they drink too deeply from the rivers of securitization and political power.

But enough poetry! I want to talk about augmented reality, attention platforms, and the re-formulation of payments and lending propositions in a global context.

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