George Friedman

@eldsjal @Spotify Snyggt jobbat! 💪

Q4’23 earnings are out. @Spotify had a very strong quarter, rounding out a great year of truly remarkable growth across the company. Thanks to the team for all your work. Looking forward to 2024! spoti.fi/487RSng

@DomienVdE @PaperBagInvest Spot on. One of the most solid brands, always had great taste and consistently strong core messaging

@PaperBagInvest Also: they have taste. Just swap out Microsoft in the video below for a legacy insurance company. youtu.be/3KdlJlHAAbQ

How is $LMND 🍋 different than a legacy insurer? The answer is they are built from the ground up on a fully digital platform with the ideal in mind. This fully digital platform brings many qualitative advantages. 1. Efficiency in Administration - all done in one simple app - no papers - no brokers needed - use advanced chat bots - simple claims process with video recording - many claims are processed with no human involvement (something like 50% currently) 2. Efficiency in Expansion - no brick and mortar shops - everything in an app allows much more nimble and fast expansion - can be in new countries with very few to zero employees needed 3. Lowered CAT Risks if Global - long term they plan to offer products globally - going global lowers concentration risk of catastrophic events 4. Fraud Prevention - everything is or can be recorded digitally - able to detect for fraud in more systematic ways 5. Measurable - every customer's interaction can be measured 6. Better Underwriting from Nuanced Data - 1000s of small signals can provide a better customer risk profile, such as - time of day the customer interacts, - did they read fine print? or skip over it? - where did they sign up? - google search keywords customer used - type of items they register - etc - summed together all these signals make a better underwriting profile of a potential customer 7. Niche Insurance Products (Unloved Products) - ability to offer niche insurance products, such as renters insurance, or even e-bike insurance - more efficient admin and easier rollout of these products - legacy insurers with much more bloated admin cannot profitably offer these small products - niche products can on-board new, younger, first time insurance customers 8. Better Underwriting from Acquiring Customers Early - 90% of $LMND's customers are 1st time insurance buyers - getting customers earlier in life when they are only buying renters insurance helps weed out riskier customers before they are buying bigger ticket items - this also allows them to aggressively keep and grow with the best customers as the get older and their premiums 10x+ (ie, go from $100/year renter to home owner and car owners who pay $1000's per year) 9. Bundling of Products - as a customer uses more products, they get a better risk profile of that person - safer customers they can offer better bundled rates to - riskier customers they can avoid 10. Lean/Nimble - fully digital means they can easily update and make changes, tweak things rapidly - easily roll out and change products 11. Customers are Happier - faster and easier processes for signing up, making claims and administrating account as well as easier to read/understand policies = happier customers - NPS of 70 (unsure if this still holds, but has been reported before) - rated 4.9 stars on 70,000+ review on iOS App Store All of these advantages are and should continue to manifest in a large competitive advantage over time. But you might be thinking ... can't legacy insurers just "go digital" and reproduce what Lemonade has done? There's a big difference between a company like that @Lemonade_Inc that has visionary leadership from @shai_wininger and @daschreiber and builds from the ground up vs an incumbent who tries to "go digital" and change built in systems, built in work culture and established workforce. These incumbent insurers have large portions of their entire workforces that would resist true change (cause it would mean their jobs are obsolete). They also have investor bases that would resist radical change due to the uncertainty of change. The results of the above digital-first advantages aren't entirely visible ... yet, but they are beginning to emerge (see Q3 letter and results). My thought is the results from the above advantages will continue to become more apparent in the coming quarters and years. Thoughts? 🍋

@klarnaseb Well done. Especially the lack of employee equity programs on par with the US programs is holding us back

A lot of times, people would tell us in Klarna that as a tech startup we had to move to Silicon Valley. I think that’s poor advice. Europe has proven to be a great place to start a global tech company and we are even showing that we can win in the US from Europe. With that said, there are things that governments can do to make it easier. Europe needs a consistent approach to granting employee equity, 100% data mobility, and public investors should have a mandate to invest, allowing start-ups to invest more to compete against the US tech giants. It was super cool to have the opportunity to say all this with the 27 Finance Ministers in the EU yesterday!

@klarnaseb Well done! Go go go

📈 We’ve just published our half-year results and I’m super proud to say that we smashed our own target with a profitable month before summer, while still growing at 14%YoY! It’s hard to do two things at once but the Klarna team did it!! 🇺🇲 🔼 In the US, we have just seen our third consecutive quarter of gross profit. Klarna's aspiration to become a leading global disruptor was always contingent on succeeding in the US. With 37m consumers, more than 50% of top 1000 e-commerce partners, and now also just 3 years after we ramped up our focus there, it’s looking like we’ll rack up $100m revenue in a year - that’s quite some achievement. I remember speaking to people last year who were not confident we’d pull it off. Today we have shown how strong and resilient our business model really is and we’ve achieved exactly what we set out to do! klarna.com/international/…

@JudithMGough @mosterlund @sverigesradioP1 Really enjoyed the Sommarprat, Judith

And, it’s out! Lyssna på mitt sommarprat i P1 om Ukraina och vad en diplomat gör…. Med stort tack till min fantastiska och tålmodiga producent @mosterlund! @sverigesradioP1 sverigesradio.se/play/avsnitt/2…

@Plaid Great stuff

Verify once, verify everywhere 🪄 Plaid Identity Verification now allows consumers to fast track verifications across the Plaid Network.

If you're interested in chatting about fintech in 2023, come join our session tomorrow. Should be fun! twitter.com/Plaid/status/1…

Tesla revenue vs. operating expenses... as compared to @apple's over time Oh my lord..

@klarnaseb Well said!

Klarna is NOT BNPL BNPL is just 1 of many features Klarna is a payments network like VISA or MasterCard. 40% of our transactions are debit. Our ethical standards for credit are much higher than VISA/MC No late fees No revolving No limit in your face Interest caps much lower

@jonas_draws @qapitalapp Love it!

Logo fun with @qapitalapp

@williamhockey @columnbank Well done 👍👍

1) Today I'm publicly announcing @columnbank, the company I've been quietly building for almost three years. We're the first chartered bank built from the ground up for developers. column.com

If saving money feels more like a chore than a shopping trip, @qapitalapp might be the best tool for you. Take a listen to today's episode between @avsingh_24 and @kpsalisbury to hear how the team has made saving money more enjoyable. soundcloud.com/wft/katherine-…

Man Citys Oleksandr Zinchenko och Evertons Vitalij Mykolenko inför avspark på Goodison Park. Två fotbollsspelare på olika sidor inför en match - två ukrainare på samma sida gentemot något väldigt mycket större.

@zachperret Go go go!

Exciting week! (PS -- if you have not yet seen it, please check out Plaid Forum day 1 recap, and day 2 tomorrow. Sign up: plaid.com/events/plaid-f…) techcrunch.com/2021/10/13/ins…

@zachperret Awesomeness. Can’t wait to see what you guys do next.

This week is our 17th triannual(ish) hackathon, called Plaiderdays. Definitely the best part of the tri(ish)meseter. Pretty amazing to think how many of our now-production products were conceptualized during these hack weeks.

Honored by this recognition from @TheRoboReport!

Thanks to @TheRoboReport for recognizing Qapital as a top performer among robo advisors and fintech apps!