81% of private credit assets are managed by firms that also manage private equity funds

and

72% of private credit deals (in North America) are sponsored by private equity firms

borrowing from Peter to dividend recap Paul??🤔🤔🤔

per IMF

10 years => $1B in AUM.

Congrats to ⁦Dan Rasmussen⁩ and team. But more importantly thanks for all the great writing.

I’ve been a reader and subscriber for 10 years.

best time ever to find a technical co-founder?

have a record # of technical folks participating this year (100+).

super high caliber too.

John Rush Every.io on finance and accounting side is amazing. Built for saas like you.

looking for a fintech co-founder?

Our bi-annual cofounder matching is live🎉

typically have 250+ amazing folks participate. If you want to join, head here:

cambrianhq.com/cofounder-matc…

Today, Empower announced they acquired Petal. not a big outcome.

Robinhood acq. X1 Card (announced Jun 2023)

credit cards as standalone businesses have been hard.

banks offer CCs but bundle them in with other products.

I think a fintech CC will work, but needs to be…

Prediction:
Poorest state in US will have higher income than richest country in Europe by 2044.

Ex: West Virginians will make more than the Swiss.

Trust companies (like BoNY) are universally trading at 12 month highs.

Why?

AUC / AUM growing as ppl migrate deposits into trust accounts t hold treasuries, MMs etc?

breaking -- chase will now spam their customers w/ ads based on their private data.

who wants to open a bank account 😜?

more seriously, being an ad network has worked pretty well for Amazon ($47B of high GM revenue in 2023!) and Facebook etc etc.

why not banks?

Chase's…

'Proof of effort' often matters more than the 'actual work output'.

Ex here. Letter of recommendations.

If an important person writes you a glowing recommendation, the fact they did it and took the time matters as much or more than the letter.

If the cost to produce that…

We're introducing the Modern Treasury Foreign Exchange Platform to help customers access optimal FX rates for global payments, with:

- Direct Bank Rates
- Unified FX Management Interface
- Multi-Bank Support

More detail from Ani Narayan: moderntreasury.com/journal/introd…

About to kick off interview with Renaud founder of lendingclub and now Upgrade from his SF office and HQ.

What should I ask!?