a16z Podcast When Fintech Meets Social
Mar 12, 2020
Anish Acharya, a fintech VC and ex-Credit Karma PM, along with D'Arcy Coolican, a consumer tech partner and social+fintech founder, dive into the fascinating merger of finance and social media. They discuss how millennials and Gen-Z are reshaping the conversation around money, from sharing debt struggles to celebrating financial wins online. The duo highlights how innovation in fintech, driven by social dynamics, is creating new opportunities and engagement, and why understanding these shifts is crucial for the future of financial products.
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Public Discussion of Debt
- People are now publicly discussing debt, unlike in the past when only spending was public.
- This shift is driven by generational changes, socioeconomic context, and platforms like Twitter and Instagram.
Drivers of Increased Sharing
- Increased sharing on social media is driven by generational differences, the financial crisis, and a desire for radical transparency.
- Talking about student debt and salaries can affect change.
Financial Hacking
- People are increasingly interested in "hacking" their finances, like optimizing credit card rewards.
- Credit scores are now viewed as a game to be played rather than a fixed destiny.