20VC: Monzo: The Greatest Turnaround in Tech: From £40M Revenues, Layoffs, Downrounds and Low Employee NPS to $1BN in Revenue, Profitable and 10M Customers with TS Anil, CEO @ Monzo

1594.999 - 1617.935 TS Anil

One is too much cheap capital chasing US fintech. Because what that I think ended up doing was create a context where most fintech entrepreneurs felt like they were being incented to grow users. And the number of businesses that we look at in the market, which is a mediocre product, sort of fueled by CAC marketing dollars, but the actual business, the actual product doesn't resonate.