Last week I went to the CSFI breakfast event and it was great. I’ve been to a CSFI event before (I was one of the panellists), but it was a different format back then.
Last week we went through a document of web links and discussed each one. It was much more interesting than it sounds. Jemima Kelly, the FT journalist who wrote many of those articles was one of the panellists.
What’s in it for anyone except for Facebook? (Left unanswered but with some good points made:
It could be extremely disruptive and put massive pressure on the big currencies, making them look volatile.
Governments will try to squash it – and if they do, Facebook might use this as an opportunity to show that it’s not evil.
Facebook needs to find another revenue stream other than marketing, this might be the first.
Each quarter, Tesla’s costs keep increasing by hundreds of millions of dollars.
Its profit margin keeps slipping further into the red.
Other companies, both traditional and new entrants, will catch up to Tesla in 2018.
Finally, 2017 was generally a good financial year, and if consumer confidence drops in 2018, people will buy fewer cars. There’s also the debt pile-up in the US car loans industry. Total auto loans in the US have increased 70% in the last 7 years to $1.17 trillion – and much of it is subprime, with some buyers opting for 7(!!) year loans (think about the value of the car at the end of 7 years).
At the June CSFI breakfast round table we discussed some of the recent technology and market innovations in the Fintech industry. In fact, it wasn’t a round table at all – there were so many attendees that it ended up more like a lecture theatre layout. Credit to the panel for keeping the conversation two-way with the audience.
CSFI round tables are always interesting, and due to the Chatham House rule, I can only report on the main headlines and not who said them.
As the Principal Sponsors of Payments International 2015 event, we had a slot to speak on the closing afternoon (I’m never sure if the last afternoon – especially a Friday afternoon – is a blessing or a curse).
One of our biggest clients in the payments industry, Worldpay, offered to join us at the event, so Nick Telford-Reed, their Director of Technology Innovation, and I both spoke on stage.
Today was the final day of the Payments International 2015 conference. Here are my notes. Again I apologise for any brevity, grammatical abominations and spelling errors – this post is a case of publishing speed versus comprehensiveness.
Mark Stevenson was the keynote speech. Mark is clearly a Marmite presenter – people either like or dislike him. Personally I liked his approach, and during the session started following him immediately at @optimistontour.
His keynote on “Why Infrastructure We Have Now Can’t Survive” began with describing how core infrastructure and business models are soon going to be unfit for purpose.