I was invited to give a presentation on overview of fintech and its latest trends at Cass Business School. I started presentation with the question how many people in audience would like to work for a bank or financial technology company. Audience has been divided 50/50 between two groups. The fact that we see more and more people interested working in financial technology company points to potentially very systemic danger for banks. Best and brightest do not want to work for a bank anymore.
In a 2011 study, Michael I. Norton, Daniel Mochon and Dan Ariely conducted three experiments to determine the relationship between self-made products and the perceived value for those products.
Lately I’ve started to notice that very few founders follow up to ask for feedback after we pass on their company. I’m not referring to anything exhaustive, but to simple questions and requests like:
- “Would you mind hopping on a call to explain why you think the market is unattractive?”
- “Could you explain how we can improve our pitch?”
- “I saw that you’re connected with XYZ. Do you think they might be interested? If so, would you mind making an introduction?