📈 Opaque payment fee pools get competed to zero

“Well, I think more people do just because the technology companies that have come around, like Stripe and others, will eventually just try to take it to zero. ... when you find, to your point, these opaque pools of revenue, the innovation is just to give consumers power by taking these costs to zero.”

“The comment on this, by the way, the most obvious one here, which I think is interesting, is the Shopify stripe debate. Because if you look inside the P&L of Shopify, an enormous line item now, about 350 million bucks a year is what they're paying to stripe. And, you know, there's going to be a lot of pressure over time to figure out what these big businesses want to do with respect to their payment strategies and do it themselves, because they may be able to save a lot of money.”

“Amazon is now doing more to actually unwind duopolies and monopolies in markets than the government and the FTC is, you know, see this thing that Amazon is now doing in the UK with Visa, where they basically shut Visa off. ... And so they are looking at and there's a rumor that they may switch the Amazon credit card off of Visa rails and put them on MasterCard rails. But this is another example, Jason, to your point of like, you know, Bernie and the progressive left would probably rail against the duopoly practices of Visa and MasterCard. They can't get anything done.”