Marqeta’s $300MM of revenue & Ethereum’s $20B in ann. transaction fees highlight opportunity and industry structure

This week, we cover these ideas:

  • How market structure determines the types of companies and projects that succeed

  • A walk through Marqeta’s economics and business model, and how Square’s Cash App and DoorDash were needed for success

  • The emerging $10B transaction revenue pool on Ethereum, MEV, and the changes to mining and gas