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☁️ The cloud is just someone else's computer

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This week in fintech

June 7 · Issue #63 · View online

A weekly summary of the latest news in our world of finance, design, and technology.


Also:
  • 💳 Pay with crypto
  • 🤪 Crazy is normal
  • 👨‍🎓 Fact of the week
  • 🚗 In-car payments
  • 💵 What can we learn from paper money?

☁️ The cloud is just someone else's computer
There is no doubt that the cloud is one of the most significant platform shifts in the history of computing. In Stacc, we have helped multiple clients launch their first product in the cloud. The value proposition is powerful: you get infrastructure available immediately, at just the scale needed for your project. However, A16Z argues that SaaS companies should move back from the cloud to their own data centers once they scale. The reason? If you’re operating at scale, the cost of the cloud can at least double your infrastructure bill compared to running your own data centers. Dropbox saved 75 Million USD over two years by moving some of their data in-house again. Maybe this is a trend we’ll see more of in Fintech as well? 
Another trend indicating that this is a growing movement is venture-backed companies like Oxide, which are planning to deliver hardware for running infrastructure at scale, directly targetting companies looking for other solutions.
A16Z - The Cost of Cloud, a Trillion Dollar Paradox. Link
💳 Pay with crypto
  • Coinbase has had a Coinbase Card for a while. Last week they added support for paying with Apple Pay® and Google Pay™ and the possibility to earn up to 4% in crypto rewards. Interesting considering how few Norwegian banks have implemented ApplePay yet. Link
  • El Salvador will be the first country in the world to make Bitcoin a legal tender Link
🤪 Crazy is normal
  • An Italian artist sold an invisible sculpture for $18 300. The sculpture is immaterial, with the only proof of ownership a certificate of authenticity – Sounds familiar to NFTs? Link
  • The cinema chain AMC has been the next stock in line for the investors on r/wallstreetbets. The stock has risen over 2 800 % in under a year. Now the AMC is offering its investors popcorn if they attend a movie. Peter Coy notes: “There could be no better gift to shareholders than the alluring kernels of puffed-up nothingness.” Link
Paired with these news, I thought this short blog post by Morgan Housel on the limits of investing sanity was rather fitting:
Crazy is normal; beyond the point of crazy is normal. Every few years there seems to be a declaration that markets don’t work anymore – that they’re all speculation or detached from fundamentals. But it’s always been that way. People haven’t lost their minds; they’re just searching for the boundaries of what other investors are willing to believe. Link
👨‍🎓 Fact of the week
Patrick Collison
More businesses launched on Stripe since the start of 2020 than did in the rest of Stripe's history before then. Overall rate of migration to the internet economy is hard to overstate.
🚗 In-car payments
  • We’ve previously talked about BMW requesting extra payment for using their High Beam Assist button. This motorcycle airbag vest is going even further and will stop working if you miss a payment. Link
  • Hyundai is taking it one step further: They have implemented an in-car payments system in their Ioniq 5 crossover. This included payment system pays for EV charging, food, and parking — an innovative new way to generate revenue and offer customers features typically associated with smartphones. Link
💵 What can we learn from paper money?
Combining utility and exclusivity, money is one of the most challenging objects to design. And as with any complex task, currency design holds some valuable lessons for designers. This article delves into what we can learn from the design of paper money in other projects.
🙌 Be like Eivind
Just wanted to tip about my favorite newsletter at the moment. "This week in fintech" from Norwegian Stacc gives you exactly what it says on the box, the latest around the intersections of finance, technology and design. Very good editorial work by Marius Hauken!
Just wanted to tip about my favorite newsletter at the moment. "This week in fintech" from Norwegian Stacc gives you exactly what it says on the box, the latest around the intersections of finance, technology and design. Very good editorial work by Marius Hauken!
Please pass it on to your friends and colleagues! They can sign up here: nyhetsbrev.stacc.com
Marius Hauken, partner Stacc X
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