I disagree - I think fintech start ups are about to get squeezed hard. As capital gets more expensive their lack of growth will be hard to justify and they can no longer subsidize their subscriptions with low cost capital so will have to force users to pay for services that aren't very necessary. That and most of the financial services at the end of the day don't really provide a lot of real value that people are willing to pay for.

Fin processing should be OK but if volume of processing drops significantly (main revenue driver) then they will have to look at ways to protect their margin.

Crypto is already in a bad spot with low growth options.

I think he means legacy finance - think IT department of Bank of America, not Stripe.

Stripe = fin processing.

I'm not talking legacy - I'm talking startups that are trying to take market from the bank through subsidized VC and repackage it to sell to the banks which feels like a lot of the fin services business model.

If anything fin legacy (i.e. IT dept) probably pretty safe.

See Brex dropping clients