| Ha - @TransferWise... we approach this slightly differently. Most of the discussion here is about - setting to price to optimise for an objective. e.g. how to optimise for revenue, profit - or cash that you can invest in marketing. Ultimately all these approaches seek to optimise for growth - depending on the definition / time frame / risk profile. So what you think about growth as an OUTCOME, not an OUTPUT of the model. We describe ourselves as a mission driven startup - with the mission of making the worlds money move at the touch of the button, instantly for almost nothing. We invest in making international payments faster, cheaper and less of a pain. As we reduce our costs, our price drops (obviously money isn't free and we need to have a small margin to cover our costs and continue to invest in the platform) Hence - there isn't anyone here thinking, lets drop price by 1% and see if we get 1% more volume. We've built a conviction that if we continue to invest in aggressively dropping price customers will switch to us. Note - if we approach this in a very data centric way will not move with the speed and aggression we are on this. Also our authenticity on this mission would be questioned by our customers. This authenticity, and conviction - on not focussing on maximising the amount of value we can extract from our customers - is what driven our Word of Mouth growth rate. More on this here - https://www.slideshare.net/pnilan/slides-from-jam-london |