Following the Cash

If you can’t figure out how a Banking product makes money then the chances are it doesn’t make sense.

“Following the cash” should be relatively easy in Banking. If it isn’t, then you’re either dealing with:

1) A “Phase II” business where “Phase I” is about acquiring customers. Phase II businesses are DOA in today’s environment.

2) A business that doesn’t make sense led by a Founder who plans on “figuring it out later” with Investors who actually quote from silly books like Blitzscaling.