In the future, every app will have an embedded wallet

It's just an easier, lower-cost way to send and receive payments online (especially as stablecoins grow in prevalence)

Doubly true for tools that let anyone, anywhere build and sell products. Eg a 16yo vibe codes a cool app that people around the world are willing to pay $3/month for? Far easier to spin up a wallet than navigate the financial sausage of current international payments + banking

Investing @variant, writing at https://backoftheenvelope.substack.com/

ok maybe, but do you *want* this future?

on the current path, we'd be left with
- a wallet in every app
- our money fragmented across those wallets
- lack of control over those wallets (since most companies aren't prioritizing private key export)

from a user POV, this seems like a nightmare

I don’t think the last two are necessarily true - eg products like Turnkey help avoid both issues you mentioned

I do think it’s a desirable world where anyone, anywhere can get paid easily on the internet

Plus, having a wallet as an *option* doesn’t force the end user into selecting it as their preferred format for payment. It simply helps expand the market

The use case that gets me the most excited is a teenager building / monetizing an app on the internet, without needing to have a bank account (youngsters would qualify as an underserved market, so probably a focus on TAM expansion in your framing)

Sort of ties into a broader belief that I have that youngsters being able to exhibit and experiment with high agency things (building apps, finding ways to make money, etc) is going to be an increasingly important form of “education” / learning as AI complicates traditional school curriculums

it may expand the *potential* market, but it definitely doesn't expand the *served* or *obtained* market until users actually adopt it

zooming out: are we talking about actually solving problems here, or just increasing perceived TAM?

if the latter, sure i agree w you

if the former, it's still unclear to me how embedded wallets are just this magical end all / be all solution to a broad spectrum of issues