Fintech Price War -- Goldman's $1.3B Marcus…

Hi Fintech futurists -- In the long take this week, I dig into the price war that has been started by Fintechs and is now extending into traditional industry. Goldman is losing $1.3 billion on Marcus, trying to build a Fintech leader. Etrade is going to lose $75 million from cutting trading fees to $0 to keep up with Robinhood. Revolut is losing £35 million on £60 million in revenue, with another £140 million burned by Atom, Monzo, Tandem, and the rest. Until markets become rational again -- from interest rates, to public valuations, to private equity -- the bonfire of technology burn will shine ever brighter.

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