It’s a great article by a visionary person about a future bank. There is one phrase that I couldn’t figure out:
SafeBank couldn’t raise VC or anything like that because having any sort of exit expectations would completely kill the safety story
Though I agree with the statement I am not sure why/how it applies uniquely to safety. It seems to me that Venture Capital inherently threatens any interest that does not directly align with making a substantial profit – which pretty much squeezes the heart out of any VC funded undertaking. Granted Matt’s company Automattic seems to be doing good even though it’s VC funded. Matt knows something!