shawn on Nostr: "Consider how the payments industry, which is one of the arenas of today, compares ...

"Consider how the payments industry, which is one of the arenas of today, compares with the closely related banking industry, which is not an arena. Banking showed economic profit of $88 billion in 2005, but by 2019, economic profit had shrunk to $21 billion. During the same period, economic profit in the payments industry rose from $4 billion to $17 billion. Payments was also far more concentrated than banking: the top five companies in payments held 77 percent of market cap in our data set in 2020, while the top five in banking held 18 percent. Also in 2020, new businesses held 33 percent of all market cap in payments; in banking, the share was just 3 percent."

This report is a worthwhile read if you're working to divine what's ahead.

https://www.mckinsey.com/~/media/mckinsey/mckinsey%20global%20institute/our%20research/the%20next%20big%20arenas%20of%20competition/the-next-big-arenas-of-competition_final.pdf