Thank you, Snackers.
10 Million. Our 15-minute Snacks Daily podcast hit 10M downloads — it's consistently ranked in Spotify's top 10 podcasts and #3 in Apple's Business News category. Oh, and we hired a 3rd Snacker.
10 million 15-minute-long pod downloads are like...
Thank you for Snacking (with your ears) to our pod on Apple and Spotify. Now let's get to it 🙌.
Whip out the corporate card... Visa is swiping $5.3B to treat itself to Plaid. You've used Plaid and didn't even know it — the FinTech unicorn connects your old school Citi, Bank of America, or Wells Fargo bank account to financial apps like Venmo, Robinhood, or Coinbase. Here's how Plaid's more like a financial bouncer (call it "the club analogy"):
Plaid is a bouncer with connections... It's a low-profile service, but it dominates the fast-growing financial app space:
Keep your friends close... and your enemies acquired. Think of the financial info Plaid has access to — LendingClub can use your debit card data to learn your spending habits, then decide on a loan for you. With the same info, Plaid could someday offer its own credit card — aka a Visa competitor. So Visa snagged Plaid instead, before its other investors (Citi, Mastercard, Goldman, AmEx) could.
Big money mood... How JPMorgan Chase is feeling after its biggest year of profit, ever (and best year of any bank in US history, nbd). While you racked up travel points with Chase Sapphire Reserve, JPMorgan pulled in $36B in profits for 2019 (a 12% increase from 2018) — that 1-year profit is more than twice Lyft's entire company valuation, aka Lyft's market capitalization.
More than half of Americans are customers... of JPM's retail bank, Chase. Here's how it got so intimate with so many US wallets:
JPM's success reflects Wall Street and Main Street... JPM's stock has risen thanks to the kumbaya good times on stock markets and the broader economy right now. Here's what its record profit screams:
Disclosure: Authors of this Snacks own shares of JPMorgan Chase and Amazon
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