221–230 of 456 posts
Earlier quoted context omitted.
Ridiculous, your company will be nothing different in ten years if it even exists. Best of luck though, prove me wrong :)
Is this one of those things where if they fail you can point to this post as validation for your genius, but if they succeed you get to claim credit for motivating them?
Earlier quoted context omitted.
This space is really difficult to crack for a few non-obvious reasons. The first is that the total TAM is less than you think; for most people, tracking their spending to manage budgets just doesn’t appeal to them. For many consumers, just seeing all of their finances is incredibly depressing. I suspect the 13mm Mint users are a large portion of the addressable market for this kind of product. So without a strong mon…
I'm sorry, what is TAM?
Earlier quoted context omitted.
Transaction tagging is also super bad.
I used to use it pretty regularly, but I'd spend so much time categorizing transactions, one pulldown menu at a time. I got sick of it and haven't logged in in a long time.
Earlier quoted context omitted.
This space is really difficult to crack for a few non-obvious reasons. The first is that the total TAM is less than you think; for most people, tracking their spending to manage budgets just doesn’t appeal to them. For many consumers, just seeing all of their finances is incredibly depressing. I suspect the 13mm Mint users are a large portion of the addressable market for this kind of product. So without a strong mon…
I'm sorry, what is TAM?
Earlier quoted context omitted.
> I think you could run a reasonable lifestyle business here if you don’t take VC, but I’m skeptical this can ever be truly mass-market. You Need a Budget (YNAB) is proof of this. I don't believe they've taken any VC funding and are a pretty successful lifestyle business in the Budgeting/Finance space.
The question is what happens to these lifestyle businesses when a VC backed company comes along with a $100MM raise in the space and a free product. Do they survive? Does the team lose their livelihood?
I've never understood what motivated financial institutions to grant Mint access to account transactions and balances? Did pre-acquisition Mint somehow reach a tipping point in active users where financial institutions decided their customers would choose other banks if theirs wasn't accessible through Mint? Are there other competing tools that have similar reach connecting to financial institution accounts?
The financial institutions never gave mint access. What happened is that mint takes a users username and password then logs in as that user and downloads (or scrapes) the transactions. Nowadays it’s a bit more integrated with the banks, with oauth support etc. but initially they were basically just scraping. And yes, this is a massive security hole and likely against the banks TOS (deliberately giving your credential…
Personally, I'm looking to move banks/credit cards towards services with better integration at the expense of other things like better returns.
One of my longest standing mint mysteries is how I alone was A/B tested into them trying to bum pizza off me: https://pbs.twimg.com/media/CSg_ZxLU8AAF96d?format=png&name=... I haven't been able to find any other confirmation that this was a thing outside the one time I saw it.
Earlier quoted context omitted.
This space is really difficult to crack for a few non-obvious reasons. The first is that the total TAM is less than you think; for most people, tracking their spending to manage budgets just doesn’t appeal to them. For many consumers, just seeing all of their finances is incredibly depressing. I suspect the 13mm Mint users are a large portion of the addressable market for this kind of product. So without a strong mon…
I'm sorry, what is TAM?
The Flash requirement in 2020 kills me. Account synch gets stuck and never finishes. Correctly categorizing transactions usually involves pulling up my bank website to see how the charge was really originally described. Mint pulls some info on this but it's often truncated, so you can try to set up rules but there are often collisions because of that bad incoming data. Somehow in an era where personal data on spendin…
Earlier quoted context omitted.
This space is really difficult to crack for a few non-obvious reasons. The first is that the total TAM is less than you think; for most people, tracking their spending to manage budgets just doesn’t appeal to them. For many consumers, just seeing all of their finances is incredibly depressing. I suspect the 13mm Mint users are a large portion of the addressable market for this kind of product. So without a strong mon…
I'm sorry, what is TAM?