Across the world every year 5% of global GDP is actually money laundered every single year

which is a crazy number. We did this exercise where we sum up all the regulatory changes that happen in a year and we divided by all the days,

like 365 days. And on average you get two to three changes per day. It gets really

really complicated, really fast.

Many companies are correctly focused on,

all right, how do I more cheaply attract my customers,

how do I retain them, how do I better monetize them the answer in that case in many cases is

Money predates software by 50 centuries yet while software transcends borders, money movement remains fragmented, to say the least.

Not only do companies have to deal with country-specific rails and banking partners, but they also have to navigate constantly evolving regulations

and compliance requirements.

But at A16Z, we believe all of this is about to change.

As the company of the future turns default global,

the demand for FinTech infrastructure

that enables companies to integrate payments, lending,

and other financial services globally

will grow with it.

And we're already seeing the shift play out all over the world, from Brazil to the UK to

India, driven by Tailwinds in innovation and regulation. Just to put some perspective around this opportunity, every day

8 trillion dollars are sent around the world in multiple currencies. That is almost 30 times

our global daily GDP, making it the biggest market in the world.

And despite its size and importance, there are still so many stories of money getting lost, delayed, at prohibitive cost, or even unavailable.

So today we're joined by A16Z FinTech partners, Angela Strange, Joe Schmidt, and Gabriel Baskas,

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