Jack Ma’s Ant Financial Services Group is massive
Its online payments platform completed more than $8 trillion of transactions last year — the equivalent of more than twice Germany’s gross domestic product.
Building a giant company in a small market is impossible. The math doesn’t work.
Global markets — like China’s consumer market and the United States’ financial market — have their own logic and gravitational force. These are the big leagues.
Ant’s market — still developing — is massive:
- Ant has 620 million online payment users; Paypal has 240 million
- Ant’s yearly transaction volume is $8.8 trillion; Mastercard’s yearly volume is $5.5 trillion
- Ant’s money market is $219 billion; JP Morgan’s money market is $134 billion
- Ant produces credits scores for 257 million people; FICO produces credit scores for around 200 million people
What is Capital’s market?
Cities.
Why?
Cities produce 80% of global GDP and, by 2050, will be home to nearly 9 billion people. Most cities, of all sizes, need a tremendous amount of innovation.
Give me a shout if you want to build something for global cities.
