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by johnnyforeigner
4655 days ago
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One thing that strikes me, and which I think is important is that we focus more on the fact that we could inspire a million x $10K a year companies rather than a 100 x $1Bn dollar a year companies. Focus on the microdevelopment aspect of this rather than the dreams of avarice and VC ROI. I don't want to replicate a "Found it and Flip it" mentality. I'd like to see a world where people start building businesses that they could feasibly pass on to their children. Solid local businesses, (both tech and traditional) using entrepreneurial tools to find and serve a need for the community. It keeps you honest if you always put the needs of your customers ahead of your investors - who are usually looking for an exit. Continued customer revenue demonstrates that you are continuing to deliver value over time. This is the message we should be trying to spread in the developing world, not get rich quick. Hasn't worked out so well for us, really. That said - count me in. |
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Some of the stories I've heard around African Fintech point to a more grounded approach, with systems built around political redundancy and growth coming from old-fashioned cashflow.
I'm hoping to learn more about this, as there's potential for us to learn, not just teach, and potential for these companies to jump the chasm into Western markets, where the finance system is getting shakier.
Perhaps the first Antifragile Fintech startups will come from emerging markets.