lex sokolin september 2019 - lendit conference blog · evolution of frontier / long tail $100,000+...
TRANSCRIPT
![Page 1: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/1.jpg)
Lex Sokolin
September 2019
![Page 2: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/2.jpg)
I. About
II. The Frontiers of Payments
III. The rise of Augmented
Commerce
2
Mixed Reality
Payments Commerce
![Page 3: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/3.jpg)
3
2009-2016; Roboadvisor 2016-2019; Crypto & AI Invest 2019+
![Page 4: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/4.jpg)
The Frontiers of
Payments
![Page 5: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/5.jpg)
5
Party getting the payment
Consumer Business Government
Pa
rty s
en
din
g th
e p
aym
en
t Consumer
Business
Government
C2C C2B C2G
B2C B2B B2G
G2C G2B G2G
![Page 6: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/6.jpg)
6
Party getting the payment
Domestic
Consumer
Domestic
Business
International
Consumer
International
Business
Pa
rty s
en
din
g th
e p
aym
en
t
Domestic
Consumer
Domestic
Business
Geographic frontier
![Page 7: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/7.jpg)
7
Cash Cards + Banking Adoption of Banking
(% population with account)
51%
69%
35%
80%
89%94%
44%
67%
0%
25%
50%
75%
100%
2011 2014 2017
Word
India
High Income Economies
Developing Economies
![Page 8: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/8.jpg)
8
Retail Transactions
($B in Payment Method)
Retail Transactions Value, ex. e-
Commerce (Payment Method) UK China
54% 54%48%
43% 41%
34% 33%38%
43% 43%
12% 13% 14% 15% 15%
2013 2014 2015 2016 2017
Cash Debit Cards Credit Cards
64%
48%42%
36%
52%58%
2010 2015 2020E
Cash Card
![Page 9: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/9.jpg)
9
E-Commerce as % of Retail Sales 10 Year Marketcap Performance
Amazon, +2,715%
Sears, -98%
1.0%
10.0%
100.0%
1000.0%
10000.0%
![Page 10: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/10.jpg)
10
90120 125 120 130
15
60
160
250
350
105
180
285
370
480
2013 2014 2015 2016 2017
Desktop Mobile
Global Digital Commerce
(volume by Mobile App vs Browser)
China B2C e-Commerce Gross
Merchandise Value ($B)
69%62%
70%
84%91%
31%38%
30%
16%9%
3.1T 1.6T 0.7T 0.6T 0.1T
Global Asia-Pacific
NorthAmerica
Europe,MiddleEast,Africa
LatinAmerica
Desktop and Mobile Browser Mobile App
% in Mobile
14% 33% 56% 68% 73%
![Page 11: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/11.jpg)
11
195
465520
575625 655
38
50
58
6268
72
297
205
252
293
337
388
530
720
830
930
1,030
1,115
2016 2017 2018 2019E 2020E 2021E
China US Other
Mobile Proximity Payments:
Estimated Users Globally (million)
![Page 12: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/12.jpg)
12
BBVA open banking, built on $117 million Simple
acquisition
![Page 13: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/13.jpg)
13
Asian Big Tech
Evolution of frontier / long tail
$100,000+
$10,000
$1,000
$100
Domestic
cash
Domestic
electronic
Cross-
Border
Developed
Cross-
Border
Developing
Web-first Mobile-first Internet of
Things / AI
Mixed
Reality
Crypto
Currency
Correspondent
banking & Wires
Consumer
Fintech &
Enabling Tech
Card Networks,
Banks, ACH,
Government
rails E-C
om
me
rce
&
Wa
lle
ts
Remittance
Tra
ns
ac
tio
n V
alu
e
![Page 14: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/14.jpg)
What is
Augmented
Commerce?
14
![Page 15: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/15.jpg)
15
Physical
Digital
Digital Becomes Physical
![Page 16: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/16.jpg)
16
Attention
Community
Self-Identity
Social Hierarchy
Social Value
Purchasing Status
![Page 17: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/17.jpg)
17
1 million users
3 million downloads
$45 million valuation
![Page 18: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/18.jpg)
18
390
505
598
632645
190
35
2014 YE 2015 YE 2016 YE 2017 YE 2018 YE USEstimate
VR/ARHeadsets
Non-ARKit ready iPhones* ARKit ready iPhones**
Augmented Reality (ARKit) ready iPhone
Installed Base Globally (millions) & VR/AR Headsets
![Page 19: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/19.jpg)
19
Payment
system
Ikea AR App
![Page 20: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/20.jpg)
20
![Page 21: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/21.jpg)
21
![Page 22: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/22.jpg)
22
Physical
Digital
Digital Becomes Physical
Physical Becomes Digital
![Page 23: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/23.jpg)
23
Physical
Bike
Digital
Twin
Social
Activity
![Page 24: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/24.jpg)
24
Dynamic Price, Customer &
Merchandise Tracking
![Page 25: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/25.jpg)
25
![Page 26: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/26.jpg)
26
Payments
Hook
Payments
Hook
![Page 27: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/27.jpg)
27
Walmart Patents for VR-Based Shopping
![Page 28: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/28.jpg)
28
Identity for
Digital System
& Payments
Mechanism
Machine
Vision to
Digitize your
Activity
![Page 29: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/29.jpg)
29
![Page 30: Lex Sokolin September 2019 - LendIt Conference Blog · Evolution of frontier / long tail $100,000+ $10,000 $1,000 $100 Fintech & Domestic cash Domestic electronic Cross-Border Developed](https://reader033.vdocument.in/reader033/viewer/2022050115/5f4c8eb9e896332a147133be/html5/thumbnails/30.jpg)