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

Hi Fintech futurists --

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

For more analysis parsing frontier developments every week, podcast conversations on operating fintechs, and new mental models, become a Blueprint member below.