It’s expensive building a software company / FinTech. Conveniently reminded of that today. In FY21, TymeBank had accumulated losses of R4.9BN and incurred a loss of R926m. New customers = ~1m Assumed CAC = ~R930 Those are scary numbers.

There is most certainly a place for remote work. Especially when it comes to deep work. But when it comes to solving problems, collaborating and build real relationships at work, nothing beats being in person.

“Uber recorded its first-ever cash flow positive quarter, generating free cash flow of $382mn in the three months to the end of June.” What most people don’t know is that it has burn’t through $25bn since being founded 13 years ago. $25bn. Absolutely wild.

We’ve started an early stage investment syndicate. Subscribe if you’d like to join: paxosvc.substack.com/subscribe

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Remember the Nokia 3310. It was released in Sept 2000 to a lot of hype and excitement. Today we have the iPhone 14, only 23 years later. In just 5 years, I think we’ll look back at Chat-GPT and it’ll be the equivalent of looking back at the 3310 today. Watch this space. #AI

I guess it’s time we sort the Wifi Out. Great to have passed the 1,000 review mark at The Tithe Barn, the little hotel we operate in the Lake Districts. thetithebarnhotel.co.uk

Trying my luck here. If anyone is selling or know of someone who is selling tickets for the Rugby World Cup final, please contact me. #tickets #RWCFinal📷 #RWC2023📷