The Creative Destruction of Finance

Jeff DeChambeau

1996

$55,000,000

$499

2006

1996 2006 Today

*

*not a real book, yet

*

*not a real book, yet

Should you take these

competitors seriously?

(What’s going on here?)

We will make electricity so cheap that only the rich will burn candles.

RoadsMoneyWritingReadingPrinting

AnimalsRailwaysPlanesEngineFactories

1. Invention2. Expansion3.

ExplorationWe are here.

A revolution in three acts:

> Computing is a> General > Purpose > Technology

PayPal could quite quickly become the largest consumer bank in the world.

You just need to take away the reasons that people remove money from the account.

And then it’s like, cool, why not just use it for everything?

…or maybe Square?

Go back to basics.

Musks advice:

What are some things you do?

Deposits & LoansWhat to do when the rules of the game evaporate

Mortgages & InsuranceWhy the future is getting even more futuristic

Payment & TransfersSome thoughts on the thinking of space aliens

Which narrative should you buy?

Banks, in particular, seem beset by boredom, unenthusiastic about actually making commercial loans, as many small and medium sized businesses will attest.

This reluctance is likely to erode banks' franchise permanently, as scores of alternative lending entities are being created to fill the void.

The pace of change is accelerating.

Keep an eye on disruptive new entrants.

Unbundling is the new bundling.

Deposits & LoansWhat to do when the rules of the game evaporate

Mortgages & InsuranceWhy the future is getting even more futuristic

Payment & TransfersSome thoughts on the mentality of space aliens

Mortgages & Big Data

1996 2006 2016 2026?

Insurance & Internet of Things

At home

On the road

On the body

What could you do with all these data?

Discussion question:

People are creating insane amounts of intimate data.

They’ll want those data kept safe and secure.

Banks keep things safe.

Deposits & LoansWhat to do when the rules of the game evaporate

Mortgages & InsuranceWhy the future is getting even more futuristic

Payment & TransfersSome thoughts on the mentality of space aliens

425,000,000

800,000,000

We see our customers as invited guests to a party, and

we are the hosts.

It's our job every day to make every important aspect of the customer

experience a little bit better.

A brand for a company is like a reputation for a person.

You earn reputation by trying to do hard things well.

Your margin is my opportunity.

These guys have completely different psychologies,cultures and shareholders.

And they also have…

$60,000,000,000

$160,000,000,000

$8,600,000,000

+

+

+

What if..

Should you take these

competitors seriously?

(What’s going on here?)

Go back to basics

Focus on the core of what you do for your customers.

Relentlessly question old thinking and assumptions.

Experiment like crazy, collect data, see what sticks.

Dodge disruption

Competition can come from unexpected places.

Keep tabs on up and coming products and companies.

Be especially aware of low cost entrants.

Shoot for the moonObsess over your customers.

Give ‘em something to talking about.

Pick audacious goals. Do them.

Thank you!Jeff.DeChambeau@T4G.com

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