I read each of the five "lessons learnt" in this article and thought to myself: "No shit, Sherlock!" After the dot-com bubble burst in 2000, I ended up working in FinTech. It was an eye-opening experience and, ever since, I have been constantly amazed by the irrational optimism/arrogance/hubris of people who have zero experience in the sector but believe that they know better than people who have been working here fo…
The fraud problem is discussed in the Paypal interview in the Founders at Work book. Paraphrasing: "Paypal is really a security company disguised as a financial services company."