Dave, excellent post. Funny how our writing themes are aligning in 2023. My key points of difference: 1) banking used to be a community activity, now requires scale to manage the compliance and regulatory hurdles.. with bank margin driven by breadth of business and data economies of scale 2) Big banks work for most people.. they are adequate 70-80% of cases. 3) retail banking is a very low margin business with banks incurring a net loss on the bottom 30-40% of consumers (in US). 4) Agree on integration of banking into platforms that consumers use. V/MA are becomming the enablers here as they provide economics and agreements for QOS. 5) Other opportunities abound in specialist segments with unique needs (ex Gig workers).

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