Goldman build Article


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Goldman is trying to build a Fintech powerhouse, and this is how they should do it


Hi Fintech futurists —

This week, we put on the Goldman hat and go shopping for companies. We buy a little bit of Folio and sell some Motif. We look at Personal Capital and the $1 billion it wants for its $12 billion of assets. We examine the private markets with Addepar / iCapital and SharesPost / Forge, and then move over to the banking sector. Should we buy Wells Fargo, as rumored, or some digital wallet apps? Read on for how to acquire a best-in-class Fintech.

Long Take

Wealthtech is one fire, they say now. I am not sure if it is on fire, like doing really well, or like it’s just burning down

There are, all of a sudden, a lot of deals being done across financial technology. Maybe not all of a sudden. Maybe the global pandemic and economic collapse has something to do with it. But there is one layer of observation deeper here. Many of the companies being sold were started between 2005 and 2015. That feels like a venture bet coming to fruition, or founders looking at the likely market environment for the next 10 years, and saying — no more of the same old. Take the check, be safe.

Here’s the alternative…