
Meow CEO on Why Financial Services are a Commodity
Fintech Brainfood
Financial Services as a Commodity
The speaker emphasizes that financial services are a commodity, not a unique product. They stress the importance of passing back the majority of economics to customers, making it a low-margin product from day one. This approach challenges the traditional concept of raising capital and burning it to sell a commodity. Instead, the focus should be on being lean, automating processes, effectively serving customers, and not scaling headcount disproportionately. The speaker advocates for a mindset shift towards understanding financial services as a commodity and operating efficiently in this reality.
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