Hi, this is Frank Chen. Welcome to the A16Z podcast. Today's episode is titled Three Ways

Startups are Coming for Established FinTech companies and what to do about it. It originated as a YouTube video.

You can watch all of our videos at YouTube.com slash A16Z videos. Hope you enjoy.

Well, hi, welcome to the A16Z YouTube channel. I'm Frank Chen. And today I'm here with one of

our general partners, Alex Rampel. I'm super excited that Alex is here. So, first fact, we both

have sons named Cameron, so affinity there. And then two, one of the things that I really appreciate about Alex, and you can

sort of see this from his young chess playing days, is he understands fintech and incentives

and pricing backwards and forwards. And so fintech has this hidden infrastructure on how do

credit card transactions work, how do bonds get sold, how are insurance

policies priced? And there's deep economic theory behind all of these, and Alex understands them

all. So you're going to have a fun time as Alex takes you through his encyclopedia knowledge

of how these things are put together. And so, so excited to have you.

Yeah, it's great to be here. So what I wanted to talk to you about is I'm going to pretend to be in the seat of a, let's call it an incumbent fintech company.

Right. So I'm a product manager and Visa or a GEICO. And I am looking in my rearview mirror and there are startups in the

rearview mirror. And I'm very nervous that the startup in the rearview mirror, exactly as the mirror

says, objects in mirror may be closer than they appear, is like, wow, they are catching up to me

faster than I really want.

And so I want to understand, like, what are startups doing?

Like, how would they mount an attack on me, the incumbent?

And we're going to talk about sort of wedges they can use.

And then that's sort of the first half, like, how are they coming after me?

And then the second half, let's talk about, like, and what should I do about it?

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