Skip to main content
MoneyNeverSleeps

MoneyNeverSleeps

By Eoin Fitzgerald | Pete Townsend
A weekly podcast that looks inside the minds of entrepreneurs and at the crossover of startups, enterprise, finance, technology and life as we know it. Co-hosts Pete Townsend and Eoin Fitzgerald.
Listen on
Where to listen
Apple Podcasts Logo

Apple Podcasts

Breaker Logo

Breaker

Google Podcasts Logo

Google Podcasts

Overcast Logo

Overcast

Pocket Casts Logo

Pocket Casts

RadioPublic Logo

RadioPublic

Spotify Logo

Spotify

Currently playing episode

116: All These Funds | Brian McNulty and FAC | Changing an Industry for the Better

MoneyNeverSleeps

1x
131: Wings | Fiona Edwards Murphy and ApisProtect
Fiona Edwards Murphy, co-founder and CEO of ApisProtect, shares her story on channeling her technology expertise into a passion for helping beekeepers, her transition from academia into the life of a startup founder, raising ApisProtect’s first round, building a customer base looking after 20mn bees…and playing the bagpipes! MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. ApisProtect is an Irish tech startup using unique, innovative bee monitoring technology to help beekeepers prevent losses and increase productivity in their hives. Just this week, Fiona was named to the Forbes 30 Under 30 Europe list for 2021. HIGHLIGHTS: On Fiona’s attraction to IoT: “I really just fell in love with using sensors in the real world to achieve meaningful things. You're taking all of these concepts that you've learned about to get those sensors out to the real world, give people information that they don't have already and get meaningful results.” On the early days of identifying the problem to solve: “Beekeeping works almost the same way as it did back in the middle ages. Before our technology, the last big advancement in beekeeping technology was the invention of the forklift.” On the business impact for commercial farming: “If you want to really level up your operation, if you want to dramatically increase the revenue from your farm without having to increase the size or change the crops that you're growing, you're talking about getting your crops to be more effectively pollinated.” On Fiona’s transition from academia to startup life: “You have to be really passionate to do a PhD, and you have to be really passionate to be an entrepreneur.” On the importance of timing for a startup: “It was a combination of a very good product, a very good opportunity, and being the right team to go after it as we had been working in the area since the very early days of bee monitoring technology being a concept. We were in the right place at the right time with the right skill set and it all just came together really well.” On the never-stop-learning realities of a startup CEO: “I often say I learn more in any single six-month period at ApisProtect than I did in eight years at university. That's the nature of the job. You have to understand everything that's going on because at the end of the day, you're responsible for everything.” Episode title inspired by Wings by Little Simz Leave a review and subscribe on Podchaser | Apple Podcasts | Spotify| Google| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete | Twitter Eoin Get in touch at info@moneyneversleeps.ie
49:08
April 9, 2021
130: All the Things You’re Searching For | Barry Darmody and Search4Less
Barry Darmody, founder and CEO of Search4Less and ENKI, shares his story on the life experiences that were the catalysts for him becoming a startup founder, getting the Search4Less product to market in the early days, keeping the faith through the lean years, making yourself expendable through building a great team, and connecting the dots of life through his passion for problem-solving. MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Search4Less is a limitless company information platform that allows you to access any publicly available information about directors, shareholders and companies in seconds. ENKI is also part of the family, which is a focused product built around the Search4Less core that makes law searching easy and efficient for property transactions. HIGHLIGHTS: On the impact of playing a key role in acquiring businesses early in his career: “I learned a lot in the due diligence phases and in being part of the discussions in the negotiations. A lot of empathy is required to convince the vendor that their ‘child’ is going to be looked after and their reputation is going to remain intact post-deal.” On waking up to what he really wanted to do: “I moved into crisis management, rationalizing businesses, managing shareholder relations. All of that helped the business, but it was all complicated, and it wasn't what I wanted to do with my life. I wanted to build products and make processes better, use my skillset to make life easier for people and to be more efficient in delivering the end product.” On early customer feedback after launching Search4Less: “When people started to use it, they were saying ‘wow, this is impressive’. And the prompt just kicked off from there - half of the clients that we sign up are referred by somebody else. We're even seeing trends now where people move between firms or start new firms. And the first thing they do is ‘What do you mean you don't have Search4Less? We need to have it, this is an essential tool’, and it just grows from there.” On staying agile: “If you get too big, you can't react quickly, and I think that's our secret sauce. A customer might make a suggestion to us in the morning, and it could be there by close of business tomorrow. I like being able to do that, and that's what gets my juices flowing.” Episode title inspired by All the Things You’re Searching for by G-Eazy Leave a review and subscribe on Podchaser | Apple Podcasts | Spotify| Google| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete | Twitter Eoin Get in touch at info@moneyneversleeps.ie
49:43
April 1, 2021
129: Money Talks #31 | Stripe’s Double Irish | Revolut Does America | Season of the SPAC | DeFi vs. Mainstream Crypto
SOUND QUALITY WARNING:  You know how Marc Andreessen said 'software is eating the world'? Well, software ate this episode, please excuse the underwater sound and we'll be back to normal next week! In this Money Talks segment, Pete and Eoin trade ideas on the impact of Ireland’s investment in Stripe, Revolut’s American dream, the season of the SPAC with eToro, Bakkt and Kraken and thoughts on DeFi vs. mainstream crypto. MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. STORIES WE COVERED: The double-bottom-line impact of Ireland’s investment in Stripe (Irish Times, 22-Mar-21) Pete channeling Chamath Palihapitiya: “Take all of the old school, traditional financial services players that are valued in aggregate in the hundreds of billions right now. Then have a look at FinTech, and when you throw out Stripe, you’ve got maybe tens of billions of market cap. There's so much more room to grow in fintech.” Revolut applies for US banking license (Finextra, 23-Mar-21) Eoin’s own doubts: “Aside from it being that one big market with 300 million people, there are some serious players there that Revolut will be competing with. Square are looking at becoming a bank, they’ve got 30 million users with CashApp, and you’ve got Venmo. I think the only way that they're going to crack a market like this is with a large acquisition of an existing customer base. The spend alone of trying to get your name out there to compete with the likes of CashApp or Venmo, it's just not going to work. Season of the SPAC – eToro, Bakkt, Kraken (Coindesk, 16-Mar-21) RELATED LINKS: The Square Crypto Book of Bitcoin Mythology (shared by Jack Dorsey on Twitter, 18-Mar-21) All-In with Chamath, Jason, Sacks & Friedber‪g (podcast referenced in segment on crypto) MONEYNEVERSLEEPS LINKS: Leave a review on Apple Podcasts | Podchaser Subscribe on Apple Podcasts | Spotify| Google| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete| Twitter Eoin Get in touch at info@moneyneversleeps.ie
31:52
March 26, 2021
128: Ten Thousand Hours | Robert Alice, Portraits of a Mind and NFTs
Robert Alice, artist and creator of the ‘Portraits of a Mind’ project, shares his story on how bitcoin - and to quote Robert – “and its essential ties to the past instead of the perpetuated perception of its radical severance with it,“ was a catalyst for a melting pot of inspiration for his mesmerizing artwork Portraits of a Mind, the crossover from physical art into digital art with non-fungible tokens (NFTs), the intersection of artistry and entrepreneurship…and the joys of life as a triplet! MoneyNeverSleepsis sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Robert Alice founded his project in 2018 to promote blockchain culture within the visual arts. The completion of Portraits of a Mind spanned 3.5 years and resulted in a 40-painting work of art. Each of the 40 paintings is the size of a small but circular garage door and each represents one of the first 40 blocks of the bitcoin blockchain.  ‘Block 21’ was recently auctioned at Christie’s and had a guide price of $12,000-15,000, but sold for $131,250 in October 2020. Each ‘block’ is as intricately crafted as a cuneiform tablet with the original source code of the relevant block carved into paint, with specific numbers on each block embossed in gold. When combined, the gold digits become global map coordinates tied to a location on Earth where a significant event occurred in the 5,000 year history leading up to the creation of bitcoin. Accompanying each painting is a non-fungible token (NFT) including a digital version of that piece of the artwork. The full story of Portraits of a Mind can be found on Robert Alice’s website. Episode title inspired by Ten Thousand Hours from Macklemore & Ryan Lewis. Leave a review and subscribe on Podchaser | Apple Podcasts | Spotify| Google| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete | Twitter Eoin Get in touch at info@moneyneversleeps.ie
42:09
March 19, 2021
127: Money Talks #30 | Starling Goes Unicorn | Roblox Goes Public | Walmart Feeling Super | Square Goes Tidal | Ireland Accelerates
In this Money Talks segment, Pete and Eoin trip through the wires of Starling Bank’s latest fundraise, investing in Roblox’s direct listing, Walmart’s SuperApp vs. ‘The Bank of Walmart’, the Square-Tidal / Jack Dorsey-Jay Z tie-up, and Ireland's new national startup accelerator, international startup accelerators and pre-accelerators. MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. MAIN STORIES WE COVERED: Starling raises £272mn at £1.3bn valuation (Sifted, 8-Mar-21) Pete’s overall thoughts on Starling Bank at this point in time: “Monzo, Revolut and N26, have all raised at higher valuations than £1.2bn. Starling now outpaces all of them in terms of value per user at £650 per user. Out of this entire story, after reading Anne Boden’s book ‘Banking on IT’, I think that’s the thing that she would point to and be the proudest of.” Roblox direct listing gets $45 reference price from NYSE (Marketwatch, 9-Mar-21) Eoin’s parallel between Robux and crypto: “Something like Robux, which is the in-game currency, to me is the prime example of a digital currency's potential usage. You see Bitcoin becoming more widely adopted, but here's a currency within a game that's being used by 32 million people every day – it’s the potential for that, and to me, is what digital currency could become.” Walmart’s Fintech Ambition: A Super App, Not The ‘Bank Of Walmart’ (8-Mar-21, Forbes, by Ron Shevlin) Square acquires Tidal (TechCrunch, 4-Mar-21) RELATED STORIES: JPM Kills ChasePay (Finextra, 9-Mar-21) Applications for the Expert Dojo accelerator are open with the next cohort kicking off on 5th April (Expert Dojo, Spring 2021) Applications are now open for NDRC’s new accelerator (Silicon Republic, 5-Mar-21) Applications are now open for the Startup Boost 2021 Spring cohort (StartupBoost, Spring 2021) LINKS: Leave a review on Apple Podcasts | Podchaser Subscribe on Apple Podcasts | Spotify| Google| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete| Twitter Eoin Get in touch at info@moneyneversleeps.ie
42:44
March 12, 2021
126: The Source | Cian Prendergast and Ortus
Cian Prendergast, founder and CEO of Ortus joins the show to share his story on the origins of Ortus in Ireland, sharing his story on how there’s a lot more to providing cloud and managed IT services to SMEs than what you’d expect, entrepreneurial leadership during a pandemic, surrounding yourself with brilliant people….and a past life of having every job under the clouds! MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Cian spent 8 years in the IT sector before launching Ortus in 2007, inspired by his ambition to build a client-centric business based on his own values and vision. Ortus provide cloud and managed IT services for over 300 small-to-medium-sized businesses in Ireland, and more recently in Continental Europe, in the financial, healthcare and legal sectors. HIGHLIGHTS: On Cian’s inspiration to launch Ortus: “It was this notion that there were some people sitting upstairs, making decisions that weren't actually connected with the clients, but I felt like I was the one that was connected to the clients. I found it more stressful to work for other people who I felt were doing it wrong than to work for myself, as petrifying as it was looking down the barrel of a recession in 2007.” On getting traction at the inception of the Global Financial Crisis in 2008: “I realized we were coming into a recession, but people liked our message when we visited them as we were totally going down the road of cloud computing.  We would say ’During a recession, do you want to spend twenty-grand on a server or do you want to give me 500 euros? And for that 500 euros a month, I will put your stuff in the cloud.’” On adapting to the work-from-home realities of the pandemic for Ortus’ clients: “If you have 300 clients in a managed environment with a managed network and managed internet connections and there are 20 or 30 people in each of those businesses, when they all go home, you've got 20 or 30 times the amount of internet connection problems. So, it was a disaster, but we were ready for it.” On surrounding yourself with great people: “I think it was a Steve Jobs quote, ‘You don't hire great people and then tell them what to do, you hire great people so they can tell you what to do’. I think all I've really done is hire people that are better than me at different things. So, if I see someone and I think ‘She's better than me at that’, then I'm probably going to hire them. If you keep on doing that, you end up with a great balance of people that are all brilliant at something.” Leave a review and subscribe on Podchaser | Apple Podcasts | Spotify | Google | Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete | Twitter Eoin Get in touch at info@moneyneversleeps.ie
35:03
March 5, 2021
125: Lot to Learn | Gerry Fahy, Andrew Quinn and PAT Fintech
On the show this week we’ve got Gerry Fahy and Andrew Quinn with the story of the PAT Group and PAT Fintech, the Irish opportunity with the growth of fintech and regtech, achieving product-market fit in learning and education, and teaching the way you would have loved to have been taught. Gerry Fahy is the founder of the PAT Group, who are at the forefront of online education and digitally enhanced learning in Ireland. Through Gerry’s origin story, his launching of PAT in 2017, and Andrew Quinn joining to head up PAT Fintech in 2020, we explore continuous learning and education as critical components of Ireland’s ambition to become a global center of excellence for fintech and regtech. HIGHLIGHTS: On one of Gerry’s earliest thoughts: “It struck me that we should be embracing technology as a medium of delivery. Should learners have to fight the traffic and come into a classroom tired after a hard day? Shouldn’t they actually consume their education,training and skills digitally?” On Gerry’s inspiration to launch PAT: “It was governed by a conviction that the market hadn't changed very much from the chalk and talk of the late eighties, right up to the mid-teens. It was still a classroom centric delivery platform.” On an insight from a chat on the sideline of his kid’s football game: “If you don't like change, you’lllike being irrelevant even less.” On the Irish industry-level opportunity conveyed to Gerry by a former student, pre-Brexit: “In a post-Brexit environment, Ireland is the only remaining English speaking country within the EU.  There will be fallout in London with the displacement of financial services, and some of them will migrate to the continent, but some will come to Ireland. We needed to plan for that and build a talent pipeline for that. Fintech, regtech and cybersecurity are going to be the major growth areas in financial services. That was the catalyst for PAT to adapt to where the market was going.” On solving adjacent problems in learning and education to respond to the opportunity: “We’ve added the whole aspect of compliance in a fintech environment, money laundering in a fintech environment, data protection, cybersecurity, regtech and data analytics - the whole suite of solutions that you bring into a potential customer.” On what’s at the core of Andrew’s beliefs about learning and education: “It’s all about demystification - you need to break it down into a language that people can understand. Let them go down the rabbit hole, encourage people's curiosity, get them to really believe in their own potential.” LINKS: Episode title inspired by ‘Lot to Learn’ by Luke Christopher Leave a review on Apple Podcasts | Podchaser Subscribe on Apple Podcasts | Spotify| Google| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete| Twitter Eoin Get in touch at info@moneyneversleeps.ie
36:34
February 26, 2021
124: Money Talks #29 | Clubhouse | Jay Z, Jack Dorsey and Bitcoin | Fintech SPACs and Digital Assets
In this Money Talks segment, Pete and Eoin riff on Pete’s first experience with Clubhouse, Jay Z and Jack Dorsey’s Bitcoin Trust for Africa and India, fintech valuations and SPACs, Citi’s fat finger, efficient crypto markets and grief for Revolut over raising fees. MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. MAIN STORIES WE COVERED: Why can’t Europe build a Clubhouse? (Sifted, 17-Feb-21) Thoughts from the author, Nicholas Colin, pointed to a fragmented European market (we agreed), a lack of experience with scaling social media platforms (we agreed here too), and perhaps a less favorable European mindset towards social media (we’re too snobby in Europe? Really? Not the Irish, at least!). Jay Z and Jack Dorsey's Bitcoin fund for Africa and India (TechCrunch, 12-Feb-21) Jay Z and Jack Dorsey are getting together to start up a Bitcoin Trust and putting 500 Bitcoin into it between the two of them, which is currently worth $23.6 million. The fund will be set up as a blind trust, and Jay and Jack won't be giving any direction, but they are looking to hire three board members. So, Pete Townsend applied for the job, and we’ll let you know in upcoming episodes how that all goes down. Fintech valuation multiples with SPACs (Fintech Blueprint/Long Take Newsletter, Lex Sokolin, 15-Feb-21) What company is going to turn down an approach from the likes of a Chamath Palihapitaya with a SPAC and the funding to bring it public, as opposed to traditional routes. The valuations on the upcoming fintechs going the SPAC route are very high, but comparing the market valuations to those of a bank is non-sensical. Citi loses legal battle over $0.5 billion funds transfer gaffe (Finextra, 17-Feb-21) Arca’s “That’s Our Two Satoshis” newsletter (Jeff Dorman, 16-Feb-21) Fast-growing Revolut to increase its fees in blow to its 1.2 million users (Irish Independent, 16-Feb-21) LINKS: Subscribe or leave a review on Apple Podcasts | Spotify| Google| Overcast | Podchaser Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete| Twitter Eoin Get in touch at info@moneyneversleeps.ie
30:43
February 19, 2021
123: Perfect | Deborah Brock and Nua Fertility
Deborah Brock, founder and CEO of Nua Fertility, joins the show to share her story on the origins of Nua Fertility in Ireland, why it made so much sense to add in educational elements and a community ethos to the value proposition, finding global partners….and rugby as an analogy for startup life! MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Deborah spent 15 years in the non-profit and education sectors, and then after her own experience with solving infertility, was inspired to start Nua Fertility in 2017. Nua Fertility launched its first product in 2020, NuaBiome for Women, which is the first-of-its-kind, natural pre-natal fertility supplement specially developed to help support female fertility. HIGHLIGHTS: On launching her own business: “When you've been through fertility treatments, you suddenly have a PhD in fertility because you go from one extreme to the other. It just naturally led me into thinking about moving into this space as an entrepreneur. I hear a lot of people talking about, ‘I always wanted to start my own business,’ but that wasn't me. I happened to fall into this because I wanted to be able to help others.” On getting started: “So I approached Enterprise Ireland and I applied for an innovation voucher and rocked down to Cork to APC Microbiome, one of the biggest research centers in the world. I went into them and said, ‘I think there's this connection here between the gut microbiome and fertility’. We started looking at an R&D partnership, then product development, and that's where our first proprietary product was born.” On making it real: “The first thing was to find a manufacturer who wanted to take me on. I was approaching people as an unknown startup with a product formulation that potentially hadn't been looked at before and I had to get them to buy in, and it’s a big jump. On how there’s no easy answer: “There isn't a magic doctor. There isn't a magic pill. There isn't a magic clinic that's going to get you pregnant. But what there is, is being able to support yourself, be armed with information and education.” On prioritizing as an entrepreneur: “You have to be thinking constantly about visibility and credibility. If what we're doing doesn't drive either of those, they get dropped. Because it's wasting my time.” On thinking about investors: “We’d like to find somebody who's going to add that extra value, work with us in a mentorship capacity - someone who will invest in us, but also believes in what we’re doing.” Episode title inspired by Perfect To Me by Anne Marie Leave a review on Podchaser and subscribe on Apple Podcasts | Spotify| Google Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Get in touch at info@moneyneversleeps.ie
39:23
February 13, 2021
122: Fast Lane | Yoann Turpin and Wintermute
Yoann Turpin, co-founder and Head of Business Development at Wintermute, joins the show to talk about the parallels between competitive swimming, derivatives trading and crypto, creating liquid markets for digital asset trading platforms, cross-pollination of business opportunities across the digital assets universe…and visiting less countries than languages he can speak! MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Pete Townsend and Yoann Turpin connected in late 2020 after an intro from the intro-king himself, Graham Rodford with some expected involvement in the intro from Ivailo Jordanov from 7Percent Ventures as well. As Yoda would say, “Small universe the digital asset space is.” HIGHLIGHTS: On parallels between life experiences: “With both competitive swimming and trading, there is a binary outcome with marginal wins. When you hit the wall, even if you’re fast, you might just be a few milliseconds behind whoever finished first. I saw that in business school, in getting my first job, and again when I started trading FX.” On the earlier days of crypto: “I came across crypto in 2013 when my business partner thought we should be market-making bitcoin, but I thought that taking 3 weeks to get 30,000 out of Mt. Gox was too long.” On applying a VC mindset to assessing crypto projects: “Figuring out if a crypto project is interesting is about asking if the problem they’re solving is big enough, and are they solving it the right way? If they’re not solving it the right way, are they the right team to pivot and solve it a different way? These things tend to hold true in the VC world, and also very much in the crypto space.” On building trust in the crypto space: “I have a view of sharing best practices and sharing long term opportunities but staying as far away from anybody doing anything that would be forbidden in traditional markets like pump-and-dump or wash trading. Essentially, anything that would imply fake pricing might imply that the team behind the price is fake, and this doesn’t help build any form of trust.” On choosing your investors wisely: “When we launched Wintermute in 2017, it wasn’t too farfetched for us to do an ICO, but we made a very conscious decision to only take equity investors to have the long-term alignment.” On how to pitch your startup: “You just really simplify, you do not explain how you do what you do, you just sell the vision in about 5 minutes. Don’t get lost in the detail, because people start to think they understand what you’re doing, and then they don’t, which means they might not trust you. But if they buy into the vision and think you’re the best team to solve that problem, then you end up with an investor.” Subscribe and leave a review on Apple Podcasts | Spotify | Google | Podchaser Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete Get in touch at info@moneyneversleeps.ie
50:38
February 5, 2021
121: Money Talks #28 | GameStop-WallStreetBets | Visa-Plaid | Buying Monzo
In this Money Talks segment, Pete and Eoin try to make sense of GameStop and WallStreetBets, the aftermath of the failed Plaid-Visa deal, who might buy Monzo, a Cambrian explosion at the intersection of money and society and RIP Hammerin’ Hank Aaron. This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. MAIN STORIES WE COVERED: What the Hell Is Going On With GameStop’s Stock? (Slate, 26-Jan-21) What does it mean for the future of publicly traded equities where you have groups like WallStreetBets, who on a whim, can turn against you and drive the stock up or down? When a market is 24/7, whether that’s in crypto or with after-hours trading on public equities, you’ve got to get your head around all of these new channels where market sentiment is effectively created and observable in real time. The hedge funds need to get smarter, because the crowd now has the ability to move the price, almost on its own whim. European fintechs spy opportunity in Visa’s failed Plaid deal (Sifted, 20-Jan-21) From a Plaid perspective, they’re pretty happy about this. The market is moving so fast, tech is moving so fast, revenue growth is on fire, especially in the digital world, and Plaid is now likely worth multiples of the $5.3bn they agreed with Visa 12 months ago. Some people are saying that the Plaid founders left a lot of money on the table by walking away, but they would’ve left a lot more money on the table by doing the deal. Are all of these banking infrastructure players getting too big where any incumbent that tries to buy them will have their deal struck down for anti-competitive reasons? Monzo founder Tom Blomfield is departing the challenger bank (TechCrunch,  20-Jan-21) Who would buy Monzo? Not a big bank, they’d just kill it, and one of the big tech players wouldn’t find Monzo deal compelling enough. It might be the next tier of tech players, someone looking to pick up a banking solution as part of a wider play. Visa have loads of money to throw around now that they’re not buying Plaid, maybe they’ll buy Monzo? Could you take the assets of the Monzo tech stack itself, and turn that into a product licensed on a banking-as-a-service basis? OTHER STORIES WE MENTIONED: What DeFi Has in Common With Cubism (Lex Sokolin, CoinDesk, 27-Jan-21) Baseball mourns death of long-time home run king Hank Aaron (The42, 28-Jan-21) LINKS: Subscribe and leave a review on Apple Podcasts | Spotify | Google | Podchaser Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Get in touch at info@moneyneversleeps.ie
36:59
January 29, 2021
120: Props | Matt McAllister and Mortgage Propeller
Matt McAllister from Mortgage Propeller joins the show to talk about bringing a new fintech to life in the middle of a pandemic, buying a house with a credit card, making lives easier for mortgage brokers and borrowers, talking to your customers way before they become your customers, life lessons from Bebo…and working through the night with The Good, the Bad and the Ugly on in the background! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Matt is the founder and CEO of Mortgage Propeller, a UK-based fintech that makes mortgage brokers more efficient and their businesses more profitable, by addressing compliance and lead generation. He’s got a firm belief that the mortgage application process shouldn’t take the joy out of buying a home. Matt is an entrepreneur and a fintech veteran armed with an MBA, and his 20-year career has spanned financial derivatives, property, online gaming and retail entertainment. Matt and Pete met back in 2017 while working together in another fintech startup, so this MoneyNeverSleeps interview is our longest to date at just over an hour as it’s been brewing for years! HIGHLIGHTS: On the word ‘entrepreneur’: “For most of 2020, I was an unemployed entrepreneur! The word doesn’t sit well, we didn’t use it when we were kids, and maybe social networks made it popular. The word itself, park it – I feel like you’re not an entrepreneur until you’ve done something. If you’re always trying to duck and dive, hustle and make something happen, and you haven’t achieved it yet, and you haven’t built a company, then it feels like you’re cheating [by calling yourself an entrepreneur].” On figuring out what to do with his life while listening to a guru guest speaker in his MBA program: ”Think of the thing you do, whatever it is, that you lose track of time when you’re doing it. That’s what you’re meant to be doing with your life. Mortgage Propeller is the only thing I could be doing. It’s not 'work', it’s just something I should be doing. Working for someone and doing a normal 9-to-5 is not for me.” On early validation: “We started talking to firms across the UK, and lo and behold, people were really interested in what we were showing them. We were talking to the problems that they have – compliance, lead generation, speed and inefficiencies of completing an application process – and slowly but surely we started to get interest and some soft commitments. We just kept grinding and grinding through the summer until we felt like we had enough validation to start raising money.” You can get in touch with Matt McAllister at matt@mortgagepropeller.com Episode title inspired by ‘Props’ by Pete Rock Leave a review and subscribe on Apple Podcasts | Podchaser | Spotify | Google Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie
01:03:02
January 22, 2021
119: Words of Advice, Pt 2 | Brian McDonald and Bay Advisory | Entrepreneurs and Taking Money off the Table
Brian McDonald from Bay Advisory joins the show for Part 2 of a 2-part series on M&A and raising capital for entrepreneurs and talks through the logic of exit plans, focusing on outcomes rather than actions when taking money off the table, balancing your gut instinct with valuations, the tendencies of different kinds of buyers after the sale…and the potential for doing a deal in the Irish language! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Brian is the Managing Director at Bay Advisory, a team of corporate finance specialists who apply their knowledge and expertise to the tech sector, helping these small and medium enterprises sell and fundraise at the best value. In Part 1 on episode 118, Brian talked through his origin story and the Bay Advisory approach, so check out that episode first. HIGHLIGHTS: On the importance of an entrepreneur’s long-term view: “If you’re starting a business and you don’t ever see yourself exiting, and you’re going to hand this business onto your kids, you better make sure your investors are aligned. In other words, if you never want to exit this business, don’t take in money from angels or VCs.” On the impact of an exit plan: “I think that having an exit plan has no bearing on your passion or drive for your business, it’s simply a reasonable precaution.” On what to do when an entrepreneur’s mindset shifts into sell mode: “The very first thing you should do is talk to someone you trust. I don’t want to hear the action; I want to hear the outcome you want as an entrepreneur. It’s not that you want to sell the business, it’s where you want to get to, and then you have options. Always focus on what result you want, and then back-solve from there.” On the importance of recurring revenue to a valuation: “We always dig down into what’s true recurring revenue, particularly in software businesses that may be closer to a consulting business wrapped us as a SaaS business.  We always look for ‘passive’ income, with the perfect example being Microsoft Office, and the other end of the spectrum is Accenture. The question is, are you more like Microsoft or Accenture?” On the entrepreneur focusing on driving the business during the sale process: “The biggest factor in getting that top valuation is that the seller focuses on the business during the process because they need to drive EBITDA. What can destroy a valuation is overestimating the performance at the point of sale, because that gives all of the negotiating leverage to the buyer.” On one of the big challenges with buyers: “What’s really hard for a founder is when there is someone that they really like and really want to sell the business to, but their offer is considerably lower than another party. It’s really difficult for the founder to balance the two offers when they want to continue driving the business after the deal.” You can get in touch with Brian McDonald at brian@bayadvisory.ie Leave a review on Apple Podcasts | Podchaser Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete | Twitter Eoin
46:26
January 15, 2021
118: Words of Advice, Pt 1 | Brian McDonald and Bay Advisory | M&A and Raising Capital for SMEs
Brian McDonald from Bay Advisory joins the show for Part 1 of a 2-part series on M&A and raising capital for SMEs and talks through the intersection of experiences that drove him to launch Bay Advisory, market trends impacting early-stage entrepreneurs in Europe, and helping entrepreneurs think about their options in taking money off the table. This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. Brian is the Managing Director at Bay Advisory, a team of corporate finance specialists who apply their knowledge and expertise to the tech sector, helping these small and medium enterprises sell and fundraise at the best value. Continuing along the theme from recent episodes of looking at entrepreneurship downstream from where Eoin and Pete ply their respective trades, we thought it was a good idea to get seed-stage founders and other entrepreneurs in our audience thinking about their options down the road. HIGHLIGHTS On the early days: “One of the best things that happened to me was not joining Big 4 from the start, as I had to learn everything from scratch, and I got a lot of experience with very small businesses where I was just handed a box of receipts.” On his inspiration: “With my experience in consolidating SMEs into bigger firms, I could see a lot of small businesses that were poorly advised from a corporate finance perspective, and at the same time I was personally investing in early-stage technology businesses. I could see that there was a requirement in the market for a specialist corporate finance house prepared to take on much smaller businesses.” On current market trends: “While volumes of venture capital have stayed relatively strong in Europe and elsewhere, that hides the fact that a huge amount of capital is going into Series B and Series C, and seed rounds are really struggling. Angel investors are really pulling back in Europe, and we’re seeing that in Ireland as well. We are potentially not funding very credible businesses and very credible founders who should be funded and would be funded in any other economic environment.” On trying to dig deeper into an entrepreneur’s thinking: “Very often, when an entrepreneur comes to me and says ‘I want to sell the business’, what they really mean is ‘I want to de-risk’. Usually, they think their only option is to sell everything to a PE firm and walk away. Other times, what they really mean is ‘I’m working too hard here and I want to have a family life again’. There are other ways of fixing that that don’t involve selling the business. You can get in touch with Brian McDonald at brian@bayadvisory.ie Leave a review on Apple Podcasts | Podchaser Subscribe on Apple Podcasts | Spotify| Google | Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast| Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie
42:39
January 8, 2021
117: Money Talks #27 | Big Valuations | Stripe | Bitcoin Scarcity | The Next Frontier of Money | Rundles
In this special year-end Money Talks segment, Eoin Fitzgerald and Pete Townsend wax lyrical on big valuations in the 'Fintech Year in Review', Stripe and the next stage of B2B financial services, the long-term economic impact of bitcoin, optimism for the next frontier of money...and of course, the Rundle! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. STORIES WE COVERED: Big Valuations and the Fintech Year in Review Tesla’s market cap tops the 9 largest automakers combined - CNBC - 14-Dec-20 2020: The year that shook fintech - Sifted - 30-Dec-20 Big Ideas Fintech Will Tackle in 2021 - a16z fintech team - Dec-20 Neobank numbers worldwide approach 300 - Finextra - 22-Dec-20 WhatsApp to rollout insurance and pension products on its platform in India soon – The Economic Times – 16-Dec-20 Stripe and the next stage of B2B financial services Stripe Treasury and embedding banking services via API into businesses’ operational platforms - Silicon Republic, 4-Dec-20 Packy McCormick’s reference to the Stratechery podcast and Stripe as the Platform of Platforms – Ben Thompson - 3-Dec-20 Is an awakening to Bitcoin scarcity driving the price rise or is it the money-printing effect? Bitcoin Soars Above $23,000 as More Wall Street Firms Pile In [and heads for $30K]– Bloomberg - 17-Dec-20 Bitcoin Braced For Near-Trillion Dollar Stimulus Bill And Fresh Fed Firepower - Forbes - 15-Dec-20 Bitcoin Is More Than a Hedge Against Inflation – It’s a Hedge Against ‘Crazy’ - Crypto Long & Short/Coindesk (Noelle Acheson) - 20-Dec-20 More on the infamous Rundle (recurring revenue bundle) Getting Subscription Bundles Right for Minimum Churn - PYMNTS.com - 22-Dec-20 After Covid: How firms can make the most of their post-pandemic opportunities - Irish Times - 17-Dec-20 Thanks to all of our listeners and newsletter readers out there in the MoneyNeverSleeps community for listening in every week, spreading the word and driving us up the podcast rankings in 2020! Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Get in touch at info@moneyneversleeps.ie
39:20
December 31, 2020
116: All These Funds | Brian McNulty and FAC | Changing an Industry for the Better
Brian McNulty, founder and CEO of FundAdminChain (FAC), joins the show to talk about solving a real business problem with distributed ledger technology (DLT), how funding your business takes a team effort, enabling positive change for the investment funds industry and end investors…and his secret life as a qualified football coach! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: FAC is a network for launching, distributing and trading digital investment funds, connecting investors, fund managers, and their service providers in a distributed digital ecosystem. Brian just completed the first half of raising FAC’s seed round, and although the fundraising round will stay open until February, Pete Townsend wanted to crystallize this moment in time by capturing it in this episode. For the sake of transparency, Pete is also an advisor to Brian and FAC. HIGHLIGHTS: On the core proposition: “We're facilitating the more forward-thinking incumbents to digitalize what they do, improve their services and pass those benefits on to their customers and the end investors.” On one of the influences for founding FAC: “At R3, we were bringing the buyside into the office, and looking at how the funds industry is still quite antiquated and extremely busy with many layers and intermediaries, but all doing an important job in the current state and all playing necessary roles.” On the opportunity: “With DLT, we could see the opportunity to collapse those layers, and if everyone shared the same data, then we don't need all the reconciliations and oversight teams. This means we can drive out some of the costs, risks and data lags.” On the reason for a comprehensive approach: “We know this takes a blend of business, technical and regulatory considerations not only to ensure that it's a real business problem we’re solving, but also that the business model itself stacks up.” On the context of collaboration: “You’ve got to make sure that you are listening to what the individuals and organizations want and that it’s the right time for them. There may be a time when you need to pull back on the collaboration, and other times you’ll want to push for it.” On raising capital: “Everyone tells you how much work it is and how it's another job and you hear those words, but you don't really know what it's like until you're close to closing.” On the guiding forces: “We want to improve the industry – this is not a gimmicky thing - and we want to see that improvement passed on to the end investor and revolutionize the way that the funds industry operates.” On the team effort: “Fundamentally, it's been a phenomenal journey so far with FAC as a result of the phenomenal team we've got and also some great organizations we're working with, so I’m looking forward to the next phase.” Leave a review and subscribe on Apple Podcasts | Spotify | Google Check out our MoneyNeverSleeps website and subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin
32:21
December 18, 2020
115: Transformers | Allan Boyle on Growth Stage Scaling, People and Change
Allan Boyle, founder of Saltwater Consulting, joins the show to talk about helping growth-stage companies scale, putting people at the center of digital transformation, how to get to the root of a problem…and his love-hate relationship with handwriting! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: Saltwater Consulting is an Ireland-based strategic consulting firm specialising in providing businesses with experienced executive capacity and resources where needed during periods of transition and rapid growth. When Allan connected with Pete Townsend and Eoin Fitzgerald, what stood out is Allan’s diverse track record across geographies, industries and business stages, and the number of repetitions in problem-solving he’s had. Also, given his focus on growth-stage companies, the problems Allan is helping to solve are the problems that earlier stage startups will eventually face, so there’s a crystal-ball context to this episode for early-stage startups as well. HIGHLIGHTS: On why he started his business: “Being part of AWS for a couple of years and watching how even the largest companies can scale rapidly was absolutely fascinating. That led to me starting Saltwater Consulting earlier this year, as what I really want to do is help companies scale.” On his modus operandi: “As companies scale, [for example], getting that alignment between sales and engineering can be challenging at times. That's where I come in - I work with tech leaders to help them understand where they're going, identify people and process gaps, and help implement operational mechanisms.” On the Rule of 3 and 10 from Hiroshi Mikitani: “Every single time the business triples in size, everything breaks - systems, people, the organization, everything. Technology is easy; you can replace that, you can scale it, you can adapt it, whatever. But it's the [organisational] systems, the processes and the people side I'm interested in, and that's why I'm doing what I'm doing.” On his focus on the people side of digital transformation: “There's a need for people in anything you do. If you build a digital platform where you’re going to have millions of customers, you need to have some level of humans behind that.” On an example of measuring what matters: “If you want to have a certain conversion ratio of sales, your metrics are what you’re putting into the funnel. What's happening with marketing? What are the activities people are doing at various points of the pipeline? You're not going to get that conversion If you don't track every step of the sales process.” On looking ahead: “The future, for me, is about understanding how customer service evolves in this new digital world.” Leave a review and subscribe on Apple Podcasts | Spotify | Amazon Check out our MoneyNeverSleeps website and subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie
45:51
December 11, 2020
114: Changes | Mick Sweeney on Markets, Society, Leadership and Digital
Mick Sweeney, CEO of PineBridge Investments in Ireland, joins the show to talk about what triggered his early interest in the financial markets, the nascent opportunity to transform the fund management industry in Ireland, the outcome of his long-term commitment to diversity, thoughts on post-pandemic global markets, societal changes driving new leadership styles…and his labour of love as a Leeds United supporter! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: PineBridge Investments is a private, global asset manager focused on active, high-conviction investing. A mutual friend introduced Pete Townsend and Mick back in 2018 through a mutual friend, and they got on famously right away through a shared appreciation for the merits of strategic change, restructuring and execution, and a similar look on life. Since then, they’ve done their best to be helpful to each other, and this episode brings it all together. HIGHLIGHTS:   On his earliest days in the financial markets in a treasury role: “All markets are interconnected, so if anything happened globally, it impacted the markets domestically. You had to have a clear insight and a view on where markets were going to be able to play the markets. But it gave me fantastic exposure and a fantastic interest, and no two days were alike. That's where my passion for this business was born.” On what Ireland has built for fund managers since the 1990s: “It’s a fantastic framework and a fantastic platform to build from. What I would ask my fellow industry leaders strategically is, how can we build on top of that platform? In other words, what is the opportunity to bring front-end, high-end investment roles to Ireland? Over the next three to five years, we should be looking at how we build defensible niche products, defensible niche funds, that will be insulated from attack from the global players. How do we build those in Ireland?” On the outcome of a commitment to diversity: “Some of our top-performing portfolio managers, globally, are women. Some of the best traders I’ve worked with over the last 30 years are women.  The results are there - this is uncontestable and decision making is better with diversity.” On where we go from here: “There’s an old adage, ‘the survivors will be the winners,’ but I think that’s moved on. Now, it is the early adopters who are going to be the winners. The people that get this and understand that there is a change in leadership style needed are going to be the winners and will get the gains from the market opportunities because they will be bringing their teams with them.” Leave a review and subscribe on Apple Podcasts | Spotify | Google| Amazon Check out our MoneyNeverSleeps website and subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie
48:10
December 4, 2020
113: Find Ya' Wealth | Elisabeth Dana and Infinity Circle
Elisabeth Dana from Infinity Circle joins the show to talk about how a career in wealth management inspired her to start all over again to build a business centered on client needs, how to be be both digital and transformational, first reflections on Infinity Circle’s crowdfunding campaign and the social side of wealth management. This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: We’ve got Elisabeth Dana on the show this week, who is the founder and CEO of Infinity Circle, launching in 2021 as a global digital and real-world platform that brings together like-minded entrepreneurs, investors and game changers, to improve your relationship with money and make investing a fun feature of your life. HIGHLIGHTS: On her inspiration: “The banking landscape changed a lot following the 2008-09 financial crisis, and I decided that I wanted to contribute to my industry and shape the practice, and in a big bank, that was never going to happen. I knew 16 years on, that I had to take everything that I had been exposed to and use it to shape my industry.” On going back to first principles: “It’s not about short term profits, it’s not about how many financial products you’re selling, it’s not about how many people you can talk to about a specific private equity deal the bank has on its books – this is not wealth management. Wealth management is about getting to know your clients so you can guide them through the pitfalls and find the path appropriate for them; each client is truly different.” On starting over: “In my mind to be truly digital and truly transformational, you need to start from scratch. You need to redefine the framework, and it is very difficult to do that. Being transformational is all about the mindset and how you model your proposition. If you model your proposition on your target clients and you have the right mindset, you can be truly transformational” On the bigger benefit of crowdfunding: “It’s about a lot more than money – as infinity Circle’s vision is to democratize wealth management, the best place to start is to let the crowd into your capital structure.” On what’s unique about Infinity Circle: “The way we’ve designed Infinity Circle is to be a hybrid model, meaning you digitalise your proposition as much as you can, but you don’t remove the human element.” On why the human element is important: “We want to have a social component to the platform. Over my career, my clients would call me as much about their returns, specific investments and metrics as they would call me looking for introductions to other clients in specific industries or markets they’re looking to enter with their own business.” Have a look at Infinity Circle's crowdfunding campaign on Seedrs. Leave a review and subscribe on Apple Podcasts | Spotify | Google Check out our MoneyNeverSleeps website and subscribe to our newsletter on Substack Follow us on Twitter Podcast | Pete | Eoin Get in touch at info@moneyneversleeps.ie
36:33
November 27, 2020
112: Money Talks #26 | Dalio vs. Druckenmiller on Bitcoin | Angel Investing and Unit Economics | AirBnB vs. Ant Financial IPOs
In this week’s Money Talks segment, Pete Townsend and Eoin Fitzgerald take a look at Druckenmiller vs. Dalio on Bitcoin, how angels invest in startups, Tinkoff Bank and the 'Rundle', and AirBnB vs. Ant Financial in the Battle of IPOs. This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. THIS WEEK’S STORIES: What We’re Getting Wrong About Druckenmiller and Bitcoin (Noelle Acheson, Coindesk, 15-Nov-20) Pete on all of the bitcoin chatter this week: “The opinions expressed on bitcoin by big names in finance, whether they’re well informed or not, are just another notch in bitcoin’s belt holding up its big huge growing trousers of societal acceptance.” Fidelity Digital Assets’ response to Ray Dalio: Addressing Persisting Bitcoin Criticisms (13-Nov-20) Anthony “Pomp” Pompliano explaining bitcoin to Barstool Sports’ Dave Portnoy in episode #392 of the Pomp Podcast. How to Raise Funds with a Super Angel: An interview with Fabrice Grinda (Gwen Salley, Head of Investment and Services at STATION F) Primer on Unit Economics for SaaS companies: SaaS Metrics 2.0 – A Guide to Measuring and Improving what Matters (For Entrepreneurs, David Skok) Tinkoff Launches Tinkoff Pro ‘Rundle’ (shared by Simon Taylor from 11:FS on Twitter on 15-Nov-20, reported by Tinkoff News) AirBnB Files to Go Public (TechCrunch, 16-Nov-20 China postpones Ant’s colossal IPO after closed-door talk with Jack Ma (TechCrunch, 3-Nov-20) Come Fly(Wheel) With Me – this week’s edition of the MoneyNeverSleeps newsletter featuring the story of Disney’s Flywheel Effect. Leave a review on Apple Podcasts Subscribe on Apple Podcasts | Spotify | Google| Amazon| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin Get in touch at info@moneyneversleeps.ie
40:26
November 20, 2020
111: Move the Crowd | Chris Burge and Spark Crowdfunding
Chris Burge from Spark Crowdfunding joins the show to talk about two-sided marketplaces, the differences between crowdfunding for B2C and B2B companies, his own transition from the life of an energy consultant to that of a crowdfunding platform operator….and the long-term benefits of stag weekends! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: We’ve got Chris Burge on the show this week, who is the co-founder and CEO of Spark Crowdfunding here in Ireland. Spark is an equity crowdfunding platform helping Irish companies raise new funds from a vast pool of private investors. Pete first came across Spark when he was working on a crowdfunding platform project last year, and he thought he had it all figured out at that point through desktop research. However, a conversation with the founder of a business can make all the difference!  This may seem obvious, but with any business, there’s usually an untold story as to why the founder was determined to get their product to market, and all you've got to do is ask. HIGHLIGHTS: On the problem with investing small amounts in startups: “I had done a small amount of startup investing, and I found that it cost you just as much in legal fees to invest as it did to make the investment itself.” On launching the platform: “Getting a two-sided marketplace going is a difficult way of getting the ball rolling. You’ve got startups on one side and investors on the other and trying to persuade both of them that you’ll get enough of the other to make this successful is a difficult conundrum.” On why there was a gap in the market: “The banks wax lyrical on how much money they’re putting into young startup companies, but in reality, they’re not. The amounts these startups are raising are too small for VC, so their only option is private investors, but the startups aren’t connected with these people. We knew we could bridge that gap.” On crowdfunding for B2C vs. B2B companies: “Yes, I do see the argument that a B2C like BrewDog will raise in excess with lots of small investments from thousands of investors, but smaller numbers of investors putting larger amounts into a B2B is an equally valid approach.” On the pending European crowdfunding platform regulation: “We’re certainly ready for it and I think the market will be ready for it as well.” On what Chris is most excited about: “We’ve only scratched the surface. Of all the investment that goes into startups, the vast majority of that is being done by VCs at the moment. We’ve got an open playing field to help young startup companies to get investment.” Leave a review and subscribe on Apple Podcasts | Spotify | Google| Amazon| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast | Twitter Pete | Twitter Eoin Get in touch at info@moneyneversleeps.ie
37:31
November 13, 2020
110: Money Talks #25: Pete Townsend and the Hard Thing about Startups, Digital Assets and Blockchain
We’ve flipped the tables this week, with Ken Coyne from OpsTalent interviewing Pete Townsend on his own digital awakening, insights on the startups he’s working with, the origins of enterprise blockchain, the present and the future of digital assets…and who stole Pete’s car stereo in 1990! This episode of MoneyNeverSleeps is sponsored by PAT Fintech, the training partner that demystifies fintech and digital finance for financial services professionals. EPISODE OVERVIEW: Pete and Ken were introduced a couple of years ago by a friend from Pete’s time in Bermuda. As they got along so well from the start, Pete and Ken do what they can to be helpful to each other. Ken runs the Tech People podcast and is the Chief Technology Officer for Ops Talent, who are delivering technology and multi-lingual customer support services for some of the world’s most innovative companies.  Ken was intrigued by the initial hype around blockchain in the capital markets in 2015, but then he saw things go quiet. So, Ken asked Pete what happened and where things are going with blockchain in this interview, also released on Ken’s Tech People podcast channel this week. HIGHLIGHTS: On the problem with startups: “It’s hard to get customers without a product, it’s hard to build a product without funding, and it’s really hard to get funding without customers. It can be a continuous circle leading to a downward death-spiral, or a hard climb up and around the Matterhorn.” On Pete’s own awakening after going down the blockchain rabbit hole in 2014: “When I read the original Satoshi Nakamoto whitepaper, I saw a brand-new framework for the capital markets in front of my face.” On the early views on blockchain in the capital markets: “Back in 2014, a bunch of capital markets CEOs asked their CTOs and Heads of Innovation to look at the only real use case for blockchain at the time, the bitcoin blockchain. But they came back from the front line like ‘Mining? Consensus algorithms? How are we actually going to apply this to the capital markets? We don’t need this stuff’.” On the evolution to enterprise blockchain: “A lot of top people in the capital markets had the same realizations, but saw a lot of strong concepts in blockchain that could revolutionize the capital markets. A bunch of these folks got together and said, ‘Let’s see how we can make blockchain capital-markets-friendly’’, and that’s how firms like R3 were born.” On blockchain going mainstream: “We’ll know that blockchain has gone mainstream when people stop talking about blockchain. How often do you talk about TCP/IP when you talk about eCommerce?” On if blockchain is picking up steam again: “The steam never actually subsided in the development community, or in the startup community; it’s just been the perception of blockchain in the institutional community.” Leave a review and subscribe on Apple Podcasts | Spotify | Google | Amazon | Overcast Subscribe to our newsletter on Substack  Check out our MoneyNeverSleeps website
32:11
November 6, 2020
109: Firestarter | Brian Mac Mahon and Expert DOJO
Brian Mac Mahon, Head Honcho at Expert DOJO, joins us to riff on solving America’s entrepreneurship problem, his objective to scale those solutions globally, the Israeli model as best practice for a startup nation...and starting fires for the betterment of all! EPISODE OVERVIEW: Based in Santa Monica, California, Expert DOJO is a startup accelerator that improves the success rate of early-stage entrepreneurs with investment, foundation, influence, community, branding, marketing, communication and mindset. HIGHLIGHTS: On what’s in a name: “A dojo is a place of continual learning; you leave your ego outside. It’s about trying to understand the problem with as much brain power coming together to find a solution to that problem. It’s about everyone understanding that they’re not an expert, but that they’re reaching towards expertise based on learning more and more.” On the origins of Expert DOJO: "We’re an accelerator, and we’ll invest in 50 companies this year, and another 100 next year. We look at international companies and provide a bridge to America and give them money to grow and a bunch of help. But we didn’t start out like that. We started out with a problem: startups are failing at an unprecedented rate.” On the problem to solve: “The more I looked into it, the more I saw that if you haven’t gone to Harvard or Stanford, forget about it, you’re not growing a unicorn – we’ve got a really messed up system in America.” On the Israeli entrepreneurship framework: “The number of Nasdaq-listed companies from Israel really points to how Israel made their entire DNA about startups. They had excellence, money, community, government all coming together to cocoon this incredible sense of entrepreneurship.” On the evolution of entrepreneurship over time: “Entrepreneurship has moved from being something for the very few 80 years ago, to something for the brave 40-50 years ago, to today where I believe it is an absolute necessity for the many.” On the key point: “Our real objective is to be a part of making success in entrepreneurship something that is equally available to folks whether they’re rich, poor, black, white, man, woman…in this current world, that is an impossibility, but that’s our objective. We know that we’re going to need a ton of money to do this, and we’re going to have to pick a lot of fights, and we’re preparing for that.” To learn more about Expert DOJO, check out their website, and also download their podcast, The Art of Startup War. To learn more about the Israeli model for entrepreneurship that Brian discussed, check out Startup Nation Central. Leave a review on Apple Podcasts Subscribe on Apple Podcasts | Spotify | Google | Amazon| Overcast Check out our MoneyNeverSleeps website Follow us on Twitter Podcast  Subscribe to our newsletter on Substack Get in touch at info@moneyneversleeps.ie
39:30
October 30, 2020
108: Alphabet | Emmett Kilduff and Eagle Alpha
Emmett Kilduff, founder and CEO of Eagle Alpha, talks with Pete Townsend about alternative data, launching his first startup at the same time as the Lehman collapse, pairing his conviction on the ‘problem-to-solve’ with staying power while waiting for the market….and his secret life as a Montréalais! EPISODE OVERVIEW: Founded here in Ireland about 8 years ago, Eagle Alpha are Pioneers Connecting the Universe of Alternative Data. Pete first came across Eagle Alpha a few years ago following an intro from Enterprise Ireland, and they’ve stayed in touch ever since. With Eagle Alpha’s strong base of clients in the US hedge fund market, and Pete having a long history in this space, he has always been keenly interested in how Emmett and Eagle Alpha are progressing. In this conversation, we also get into Emmet’s initial inspirations for Eagle Alpha, the benefit of patience when you know you’re right but the market’s not on board yet, and the importance of creativity in responding to the unexpected. HIGHLIGHTS: On the influence of a father who was Ireland’s first successful fintech entrepreneur, which meant Emmett ended up “reading business plans and novels instead of novels as a young kid and as a teenager.” On his first startup, CMYPitch.com, “That was my MBA in startups – you can’t go to Harvard or Stanford to learn that type of material, you’ve got to live through it.” On starting Eagle Alpha, having the conviction that "hedge funds should be relying on data to make data-driven investment decisions, not just sell-side analyst research reports.” On some of the examples of alternative data: satellite or geo-location imagery counting cars in retail parking lots in real-time at scale as a leading indicator of sales, tracking corporate jet activity, and analyzing anonymized credit card data to predict revenue for subscription-driven businesses like Netflix. On his key lessons on waiting it out: “Stay in the game, don’t try to overexpand or try to raise too much money, but try to educate the market to encourage the wave to come. On his origin story: “You won’t succeed in anything in life without hard work – even if the timing works in your favor, without hard work, you won’t grasp the opportunity.” Key point: “We’re still early after being in our market for 8 years – the big wave is still to come.” To learn more about Eagle Alpha, check out their website, and also download their podcast, Profiting from Data. Leave a review on Apple Podcasts Subscribe on Apple Podcasts | Spotify | Google| Amazon| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin If you are interested in sponsoring the show, get in touch at info@moneyneversleeps.ie
39:04
October 22, 2020
107: Cross-Trainers | Sorcha Finucane and TrainedIn
Sorcha Finucane, Founder of TrainedIn, talks with Pete and Eoin about her inspiration for the business, the network effects of the platform, the ‘platformification’ of trust and referrals, the fairness of SME access to training vs. that of big business, how experience with both sides of the problem increases network value….and her life in an alternate universe in the military! EPISODE OVERVIEW: TrainedIn is an online platform assisting training and consultancy providers in showcasing their business and services while connecting them with individuals and organisations in need of their services. When we learned about Sorcha and TrainedIn recently, our initial intrigue was driven by the network effects of professional training, where buyers bring more sellers and sellers bring more buyers. Also, as the whole world of professional training became virtual very quickly a few months ago, we wanted to know more about how those delivering training and those in need of training programs were keeping things moving. Pete comes from a family of educators, and Eoin and his family are experienced in educational endeavors as well, so this one hits close to home. HIGHLIGHTS: Sorcha shared how she’s launched the TrainedIn network by artfully bringing both those in need of training and those providing training onto the platform in such a way that brings immediate value, but doesn’t fleece anyone, and the trust-building benefits of this approach. On creating opportunities: “We can bring smaller providers of training together to jointly tender for a big project, rather than the larger training providers getting all of the big jobs.” Top skills sought after on TrainedIn in a pandemic – health and safety, leadership, emotional intelligence, project management, wellness and that old chestnut - Excel training. Sorcha’s insight that everyone should spend some time in the hospitality industry, especially with understanding customer service, and “if you can communicate with people, you can travel the world with a hospitality passport.” On making the right jump: “If you’re thinking about taking a big leap as an entrepreneur, call someone who won’t give you a load of BS and will help you make up your own mind. It’s your own mind that you need to make up, it’s not someone telling you that you should do it, because you have to believe in what you’re doing or else it won’t work.” Finally, a shout out to Sorcha’s two dogs, Coco and Reilly, as the first ever non-humans on the show! To learn more about TrainedIn, get in touch at contact@trainedin.global. Leave a review on Apple Podcasts Subscribe on Apple Podcasts | Spotify | Google| Amazon| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin Hit us up on info@moneyneversleeps.ie
40:22
October 16, 2020
106: Money Talks #24: Breaking Big Tech | Catch-22 of B2C Fintech | How to 'Love the No' from VCs
This week, Pete and Eoin take look at what to do about the condemnation of Big Tech’s alleged monopoly powers according to US lawmakers, the catch-22 of consumer fintech, Apple One and ‘Rundles’, getting something from VCs if not a check….and godspeed, Eddie Van Halen. THIS WEEK’S STORIES: House Lawmakers Condemn Big Tech’s ‘Monopoly Power’ (NY Times, 6-Oct-20) · Do you break up Big Tech (Google Amazon, Facebook, Apple, Microsoft) by geography or by product line? · Is financial services the Mr Burns-slash-Dr-Evil strategy for Big Tech? No, I think it was more about monetizing their user base. · By being so big, Big Tech create an exit strategy for tech startups – if Big Tech is broken up, will it significantly impact your eventual exit plan? How to design fintech for prime users? Embrace complexity (a16z Fintech Newsletter Sep-20, Anish Acharya) · How does fintech address the complicated financial lives of those with too much wealth for their financial life to be simple, but too little wealth to pay someone to manage it for you? · If I’ve had a long career and always invested with traditional players, I do probably want someone to talk to. If I’m a bit earlier on in my career and made my money on tech, I’m probably more open to managing things mostly through an app. Apple One (15-Sep-20, Apple.com) · Apple One now offers customers Apple Music, Apple TV+, Apple Arcade, iCloud, and more services in one simple plan. · ‘Rundles’ - recurring revenue bundles - where challenger banks and consumer fintech need to go, managing your entire lifestyle through a single app. The Winning Psychology of Top Founders in Fundraising Meetings (NFX, James Currier, 8-Sep-20) · Pete and Eoin each pick their top 5 questions from NFXfor founders to ask VCs, as 90 percent of pitch meetings don’t lead to a check, and it’s better to get insights than a bag of rocks. Eddie Van Halen fans remember his work on Michael Jackson’s classic hit ‘Beat It’ (NME, 7-Oct-20) Leave a review on Apple Podcasts Subscribe on Apple Podcasts | Spotify | Google| Amazon| Overcast Check out our MoneyNeverSleeps website Subscribe to our newsletter on Substack Follow us on Twitter Podcast |Twitter Pete |Twitter Eoin If you are interested in sponsoring the show, get in touch at info@moneyneversleeps.ie
36:30
October 9, 2020
105: Ease the Pain: David Soden and Aptimyz
David Soden, Co-founder and CEO of Aptimyz, talks with Pete Townsend about early entrepreneurial influences, finding purpose in a move from pharmaceuticals to B2B SaaS, the end-all-be-all of delivering customer value….and doubling down during lockdown! For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. EPISODE OVERVIEW: This week Pete talks to David Soden, co-founder and CEO of Aptimyz, an Irish tech startup delivering a complete and affordable EPOS (electronic point of sale) and back-office management solution providing stability for retail in challenging times. If David and Pete had recorded this right after they met pre-lockdown in February, this conversation would’ve been much different! Think about it this way - you build some hard-fought traction with your startup and climb right up to the edge of hitting the market in a big way. Then, the unthinkable happens to not only your target market, but the entire world around you, and the physical interactions between consumers and small businesses that were a critical lever to your business, basically drops through the floor. Well, that’s pretty much a masterclass in “Dealing with Adversity” that you can’t get in any business school on Earth. HIGHLIGHTS: Being the youngest of five boys in an entrepreneurial household with both parents and two brothers running their own businesses: “It never looked easy, but it was always exciting, and I think I had the bug from that point.” On one of the biggest takeaways from his days in pharmaceuticals: “It was amazing as a young guy to be involved in a product launch going from zero to $1.5bn in 18 months, with that kind of scale, and see the pre-launch activity through to launch activity through to hyper growth. On his purposeful move from pharmaceuticals to SaaS: “It was always important to have that north star and know what you’re working for and why you enjoy doing it.” On his mantra as a startup founder: “It’s not worrying about the money, it’s worrying about whether you’re truly relieving a pain point for the customer.” On his thoughts on startups: “For anyone interested in doing a startup, it’s isn’t easy, and if it is easy, there’s a good chance you’re fooling yourself that you’ve found something that’s really worth it.” On digitalizing retail: “It isn’t about having a till or a PoS and then going online, it’s about having a digital business with a physical connection to the customer in store, and the virtual connection with the customer online, but managing it all in one place.” On the pandemic: “When it hit in March, it was kind of a hold-your-breath moment, and then we realized we could give up, or double down. We doubled down and expanded the team.” On delivering value: “There are a lot better things that retailers can be doing with their money right now than spending it on old PoS hardware.” On lessons learned from pitching to investors: “Be sure of what you want going into it because you can’t cry about it afterwards if you end up with a bad deal.” On looking ahead: “It’s a huge challenge, but we’ll be successful if we deliver customer value. It’s not about the shiny buttons, it’s about helping customers run their businesses more efficiently. “ To learn more about Aptimyz, get in touch at info@aptimyz.com. Follow us on Twitter @MNSShow, @PeteTownsendNV and @EoinFitzgerald9
44:45
October 2, 2020
104: Money Talks #23: European Startup Scaling and TransferWise in the Money
This week, Pete and Eoin take another look at the TikTok deal as a bellwether for change in how entrepreneurs outside the US look at the American market, a peek inside the now-profitable fintech unicorn TransferWise, the Nikola scam, the Yandex-Tinkoff tie-up, YCombinator’s acid test….and Cobra Kai! This episode is kindly sponsored by Ireland’s fintech and financial services recruitment specialists, Top Tier Recruitment.  If you would like an intro to the team at Top Tier Recruitment, please click here. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. THIS WEEK’S STORIES: What the US and China’s tussle over TikTok means for Europe (Sifted, Nicolas Colin - 23-Sep-20) - Revisiting a story we covered on episode 97: Microsoft Goes Tik Tok and Monzo on the Clock.  But, Microsoft didn’t go TikTok, Oracle and Walmart did, and here’s a good overview of that deal from the Motley Fool.  Pete and Eoin walk through rethinking the default go-to scaling strategy of European startup founders looking at the US as the holy grail. TransferWise reports second year of profit, revenue almost doubles (CNBC, 10-Sep-20) - Pete and Eoin talk through a different way to think about a challenger fintech rather than just a better bank. Russia’s Yandex Agrees $5.5Bln Deal For Tinkoff Bank (Moscow Times, 22-Sep-20) Nikola saga hits three speculative areas at once: SPACs, Robinhood traders and electric vehicles (CNBC, 21-Sep-20) Start-up co-founded by ex-Goldman trader is first fintech to complete takeover of a national bank (CNBC, 4-Sep-20) Michael Seibel – Lessons from Thousands of Startups (Invest Like the Best, EP.190) Strike First… and Chill: Cobra Kai Moves to Netflix (Ted Theodore Logan, Medium, 9-Jul-20) Also, a special thank you goes out to Paul and Laura Smyth at Top Tier Recruitment for sticking with us as such supportive sponsors and friends! For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. Follow us on Twitter @MNSShow, @PeteTownsendNV and @EoinFitzgerald9.
42:40
September 25, 2020
103: Ya Know The Rules | Jill Richmond and Jewel
Jill Richmond, Co-founder and Chief Revenue Officer of Jewel, joins the show this week to talk about having agility at the core of everything they do, the relationship between regulations and problem solving…and backpacking solo through eastern Africa! This episode is kindly sponsored by Ireland’s fintech and financial services recruitment specialists, Top Tier Recruitment.  If you would like an intro to the team at Top Tier Recruitment, please click here. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. EPISODE OVERVIEW: Jewel is a proposed Bermudian Bank and technology firm building banking infrastructure for digital assets as a bridge to fiat banking. The Jewel team brings a deep set of experience in regulated financial businesses, has provided leadership and guidance on new banking and finance policy in the US and emerging markets, and has a track record of delivering innovative and compliant new financial market solutions. Jewel recently announced their partnership with Anchorage, a platform for digital asset custody. In this episode, Jill talks to Pete Townsend about building the business in a fast-moving market while being in the midst of a licensing process, and a few of her personal experiences over the years – see below for some of the best soundbites: On building solutions for the fast-moving digital assets market:“Our own agility has to be core to what we’re building. As the market matures, we have to pay very close attention to how the core problems that we’re solving are evolving, and how quickly we can build solutions.” On responding to new information from the digital assets market: “As the information coming at us changes, we just keep asking ourselves, ‘Are the problems we’re solving immediate and are they a priority. Even though the industry is changing, the regulatory environment isn’t moving as quickly.” On the relevance of her earlier days of building policy for refugee programs to her current modus operandi: ”It was always a policy-first process. I think I recognized that with building something disruptive and innovative in banking, it has to be led with policy as well. If we’re entering a very regulated space as a bank, we have to focus on regulatory clarity first.” Also, listen in for stories about Jill’s formative years as a 10-year-old entrepreneur generating 20x returns, her adventures as a solo backpacker in east Africa and her steadfast refusal to postpone the recording of this podcast even though her car was broken into that morning! To learn more about Jewel, get in touch at info@dltjewel.com, and you can follow Jill on Twitter @JillRichmond77. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. Sign up for our weekly MoneyNeverSleeps newsletter on MoneyNeverSleeps.substack.com Follow MoneyNeverSleeps on Twitter @MNSShow, Pete Townsend @PeteTownsendNV and Eoin Fitzgerald @EoinFitzgerald9
35:41
September 18, 2020
102: Connector: Jean Evans and Venture Business Network
Jean Evans from the Venture Business Network in Ireland joins the show this week to share her insights on how to get started with professional networks, building your own board of advisors by developing your network, and being a master networker and a shy introvert at the same time. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. EPISODE OVERVIEW: The Venture Business Network is a dynamic community of business owners and leaders who share their knowledge and connections to support one another in the development of more successful businesses. We’ve been talking a lot about how the shift to mostly virtual or virtual-only interaction with customers and investors has impacted entrepreneurs in the last few months, and how everyone is adapting. So, we were thrilled to connect with Jean to dive into how important it is to keep your wider network engaged. In this episode, Jean shares her experiences and insights on: Her “just get on with it” mindset to picking up the phone and speaking in Italian in the formative years of her career. How she became a connector of people across different geographies and industries through leadership roles in the organisation of professional conferences. Her passion for networking and how she helps those new to professional networking accelerate their engagement. How networking delivers far more benefits to you in the future than in the short-term, and how the “give first” mentality will ultimately come back to you positively. To learn more about the Venture Business Network, you can reach out to Jean Evans at jean@venturenetwork.ie. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. Sign up for our weekly MoneyNeverSleeps newsletter on MoneyNeverSleeps.substack.com Follow MoneyNeverSleeps on Twitter @MNSShow Follow co-host Pete Townsend on Twitter @PeteTownsendNV Follow co-host Eoin Fitzgerald on Twitter @EoinFitzgerald9
32:17
September 11, 2020
101: Digital Underground: Ambre Soubiran and Kaiko
Ambre Soubiran, CEO of Kaiko, joins the show this week to talk about how the pioneers of crypto and blockchain laid the foundation for the transformation of capital markets, Kaiko’s role beyond crypto as a financial market data provider…and the best route for sailing across the Atlantic! This episode is kindly sponsored by Ireland’s fintech and financial services recruitment specialists, Top Tier Recruitment.  If you would like an intro to the team at Top Tier Recruitment, please click here. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. Check out our inclusion in FeedSpot’s Top 20 Entrepreneur Podcasts You Must Follow in 2020. EPISODE OVERVIEW: Kaiko was founded in 2014 and is now a market data provider in the blockchain-based digital assets space, providing institutional investors and market participants with enterprise-grade data infrastructure. In this episode, Ambre talks through the intersection and merging of Kaiko’s story with her personal story – see below for some of the best soundbites: On her entry point to the crypto and blockchain space: “In 2012, for me it was a refreshing new venture, I was going to these really random bitcoin meetups in these underground venues on Brick Lane in London, it was really sketchy at the time, but in a good way. It was really smart people that were inspired and changing the world and doing so in a technological and mathematical way that were really close to my heart.” On thinking about crypto differently: “Bitcoin is very often perceived as a “crypto-anarchist revolutionary-against-institutions” mindset, which is indeed the genesis of it, but not everyone is like that, and I think it was more about challenging the status quo and re-thinking the notions of money, and that’s what I really liked about those meetups. On dispelling market rhetoric: Banks definitely don't ignore blockchain anymore, but I was trying to push it at a time when they weren't ready for it yet. But the “blockchain-good-crypto-bad” mindset frustrates me a little bit, because what makes a blockchain work are the consensus and incentivization mechanism. If you don’t have a unit of value, i.e., a cryptocurrency or token, that incentivizes people to maintain the network in a decentralised way tied to a blockchain, you're missing out on the main points of what makes a blockchain work. On knowing your target investors: If you’re a founder in the blockchain or crypto space, and you have to spend the first 15 minutes of a 30-minute pitch to a VC explaining blockchain and crypto, you’re in the wrong meeting. On the capital markets: The capital markets industry is definitely less creative than it used to be, and that’s one of the things that drove me to crypto is that there’s still so much room to build. To learn more about Kaiko, get in touch at hello@kaiko.com, and you can get in touch with Ambre at Kaiko directly at ambre@kaiko.com. For more episodes and our entire back catalog of show notes go to MoneyNeverSleeps.ie. Sign up for our weekly MoneyNeverSleeps newsletter on MoneyNeverSleeps.substack.com. Follow MoneyNeverSleeps on Twitter @MNSShow.
45:34
September 7, 2020
100: Money Talks #22: Challenges of the Challengers and Top 10 Episodes
For the 100th episode of MoneyNeverSleeps, Eoin and Pete dive into their favorite topic – the challenges of challenger banks – and look back to the first 99 episodes to build out a list of their Top 10 episodes. This episode is kindly sponsored by Ireland’s fintech and financial services recruitment specialists, Top Tier Recruitment.  If you would like an intro to the team at Top Tier Recruitment, please click here. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. Before we started the episode, we were thrilled to announce our inclusion in FeedSpot’s Top 20 Entrepreneur Podcasts You Must Follow in 2020. Thank you FeedSpot! We start this week with the crossover of a few pieces of content from the past two weeks on challenger banks, in particular the Big 3 of Monzo, Starling and Revolut. Recent reports highlighted their financial results and compared and contrasted them, and one thought from Lex Sokolin of the Fintech Blueprint particularly struck a chord, and this is at the heart of what we dug into on the first half of this episode through the following stories: Starling, Revolut and Monzo’s annual results compared (Sifted, 17-Aug-20) Art Wittmann, Industry Research in “Chasing Profitability in a Changing Media Landscape” (Oracle NetSuite’s Brainyard)- how media companies make money PRA challenges business models of new banks in consultation paper (Finextra, 24-Aug-20) In the second half of the episode, Pete and Eoin each went through their Top 5 MoneyNeverSleeps episodes of all time to come up with the Top 10. Listen in to find out why, and also hear our ‘honorable mentions’, but here’s the big list! Ep 99 - Peter Geoghegan and Democracy for Sale Ep 93 - Be Direct - Zac Liew Ep 57 - The Prediction - Andrew Mullaney Ep 42 - Big Bank - Sean Faughnan Ep 38 - Friends & Respect - Laura Smyth, Paul Smyth, Lisa White, Vessy Tasheva Ep 37 - Fight for your Right - Graham Rodford Ep 26 - Birds of a Feather - Ann O’Dea Ep 23 - Money Made Me Do It - Elaine Deehan Ep 15 - Angels - Chris Adelsbach Ep 1 - The Re-up - Brian Norton Thanks to all of our guests since May 2018 for their willingness to join us, their openness, their insights and above all else, helping us to figure out what makes them do what they do.  Please visit MoneyNeverSleeps for all of our other episodes.
51:06
August 28, 2020
099: Money Talks #21: Peter Geoghegan and Democracy for Sale
This week, Eoin and Pete have the pleasure of talking to Peter Geoghegan about his book,  ‘Democracy for Sale: Dark Money and Dirty Politics’.  It is a fascinating story of how undisclosed donations have infiltrated British politics, undermining public faith in democracy and fuelling the rise of populism across the West. Pete and Peter also discuss their common love of baseball and cricket and Peter shares a fascinating story about emigration from Longford to Argentina! This episode is kindly sponsored by Ireland’s fintech and financial services recruitment specialists, Top Tier Recruitment.  If you would like an intro to the team at Top Tier Recruitment, please click here. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. Peter Geoghegan is an Irish writer, broadcaster and investigations editor at the award-winning news website openDemocracy. He led openDemocracy‘s investigations into dark money in British politics that were nominated for a 2019 British Journalism award and the Paul Foot award. His journalism has appeared in the New York Times, the Guardian, the London Review of Books and many other publications. He has made documentaries for BBC Radio Four, worked on investigative TV programmes for Channel 4 and regularly appears on British and international broadcast outlets. His most recent book, Democracy for Sale: Dark Money and Dirty Politics, was published in August 2020 by Head of Zeus. His previous book, The People’s Referendum: Why Scotland Will Never Be the Same Again, was nominated for the Saltire First Book Award. He is co-founder and current chair of Scottish investigative website the Ferret and lives in Glasgow and London.
45:59
August 21, 2020
098: Loyal to the Soil: Faye Walsh Drouillard and WakeUpCapital
Faye Walsh Drouillard from WakeUp Capital joins the show to talk about how her formative years and life experience drove her towards early stage impact investing, the two biggest challenegs we face as a global population and fuelling self confidence with humility, constant curiousity and a drive to do better. This episode is kindly sponsored by Ireland’s fintech and financial services recruitment specialists, Top Tier Recruitment.  If you would like an intro to the team at Top Tier Recruitment, please click here. For insights delivered to your inbox beyond the spoken word, subscribe to our MoneyNeverSleeps newsletter right here on Substack. Faye is the founder and principal of WakeUp Capital, an Ireland based early stage impact fund that backs European companies already shaping a better, brighter future for people and planet. Faye grew up and spent her formative years between Washington DC and the West Coast of the US, and she credits these early experiences in shaping her view of the world and her ambition to do something about the two biggest challenges we face as a global population  – mass inequality and climate change, Just a heads-up - we’ve been moving platforms over the past few episodes, and still working out the kinks, so Pete’s track is a notch below what we’d like it to be, but it was a great conversation and we know you’ll enjoy it.  Faye shared a lot of great insights on this episode, including:  On geographic parallels to personality: “The west coast feels very much home for me when I’m there because of many of the traits that people who are in entrepreneurship and startups and investing look for - open spirit, innovation and trying something new.” On her time with the Freedom Writers Foundation: “It’s one thing to go and work with really determined entrepreneurs, it’s another thing to work with young people who have overcome things such as homelessness, drug abuse, mental issues, being brought to America as illegal immigrants and then to help them become part of this business with an aim to improve educational outcomes for students worldwide.” On her impetus for becoming an investor: “I realized that there are so many wonderful entrepreneurs out there having epiphanies and light bulbs going off and having great ideas, but how could I take my knowledge and experience and influence the people who had the funds?  I really wanted to get inside their minds and figure out how they made their investment decisions.” On her motivation: “For me, the unwillingness to accept the status has to do with the two biggest challenges we face as a global population - mass inequality and climate change.  These are not entirely new today, but more people seem to be paying attention to them, but I’ve been frustrated with both of those issues for a good part of my life." On the impact of impact: “We want to help early stage entrepreneurs understand how to measure the impact they’re having on society and the planet, and grow the space of impact investing, so that stakeholders and co-investors know what it really means.” Pleas