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

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

we def agree on what the future looks like: bunch of kids + adults building and monetizing things on their own

i'm just not seeing how that means embedded wallets will be the enabling technology → e.g whop.io is processing $100m+ volume in fiat payments for the same customer segment

if we add the constraint of "not needing a bank account to accept payments", then @daimo is a great option:

1. dev spins up a wallet on their own (EOA / multi-sig / doesn't matter)
2. set up daimo pay with a few lines of code
3. accept payments immediately to that wallet from (1)

seems like we're not limited by tech to achieve your vision; we're limited by consumer demand for current solutions (it's not a big enough pain to jump thru the crypto hoops)

we def agree on what the future looks like: bunch of kids + adults building and monetizing things on their own

i'm just not seeing how that means embedded wallets will be the enabling technology → e.g whop.io is processing $100m+ volume in fiat payments for the same customer segment

if we add the constraint of "not needing a bank account to accept payments", then @daimo-pay is a great option:

1. dev spins up a wallet on their own (EOA / multi-sig / doesn't matter)
2. set up daimo pay with a few lines of code
3. accept payments immediately to that wallet from (1)

seems like we're not limited by tech to achieve your vision; we're limited by consumer demand for current solutions (it's not a big enough pain to jump thru the crypto hoops)

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