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Quote of the Week: Tech Disruption

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January 16, 2014

“Technology is poised to disrupt the massive global financial services industry. Following the recent credit crisis, banks are becoming more risk adverse and more highly regulated. Also–Internet competitors have key advantages relative to traditional banks including lower operating costs and incremental online “signals” to inform credit decisions… We expect this activity to increase dramatically!”

 

Who said it: Jeff Jordan, Andreessen Horowitz

 

In context: Journalists at Forbes rounded up predictions for the coming year from brand name VC funds to highlight what they see as hot and cold. Jordan’s view that online finance is poised for growth is no doubt based on his experience in the veteran eCommerce sector. He is a former c-level executive at PayPal, OpenTable, and eBay. He became a GP and portfolio company manager at Andreesen Horowitz in 2011, a firm that recently invested in crowdfunding startup, Crowdtilt. The crowdfunding category has a high potential with nearly 1,000 platforms emerging on every continent except Antarctica, according to estimates made in a World Bank Crowdfunding study, published last October. The actual dollar figures involved are much debated, but it is an early stage emerging trend for entrepreneurs to crowdfunding to raise either debt or equity financing for their businesses in 27 countries, and that list is rapidly growing.

 

Where we found it : Forbes

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