Silicon Valley Daily

Pointing out a good example of cognitive bias for smart, online people is Venmo vs. CashApp thinking that Venmo is a good business.

CashApp is now the primary business at Block (nee Square). It's no longer a new age cash register company, it's a bank, used by 50M+ Americans.

But because Venmo penetrated elite American colleges, most knowledge workers think Venmo is the important app. Payments itself is a bad business. And knowledge workers have other financial services (who do you know that uses the Venmo debit card).

Contrast to CashApp which effectively is the bank for many of its users. And it monetizes *way* better than Venmo.

(Not a dunk on the original cast, figured I would bubble up in /svd)

my social conspiracy theory is that Jack baited Elon to buy Twitter so he could spend more quality time printing money with Block

👨‍💻 /uno and /outside, @unofficial

cypherpunk wannabe, engineer working on @frames /open-frames /opencast
https://stephancill.co.za create stories at https://stories.steer.fun

i honestly believe he got bored with the tech limitations of the business and company he built

I buy that. Twitter was a side project for jack - remember lots of people referring to him as an absent CEO