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The 150-Pound Computer
Every job is an OODA loop. AI doesn't replace the loop, but unbundles it into sub-functions. The most valuable ones are irreducibly human, and the smart…
Apr 9
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Matt Brown
Fintech's moats don't compile
Why AI makes many fintech moats stronger, where real defensibility comes from, and why you can’t vibe-code a banking license
Mar 11
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Matt Brown
2
Vertical software already won the context graph
Everyone is arguing about who will build the trillion dollar context graph. The most valuable ones already exist inside vertical software.
Jan 22
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Your data model is your destiny
Oct 14, 2025
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Matt Brown
B2B payments aren’t payments, they’re workflows
Nov 6, 2023
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Matt Brown
Payfac in 1,000 words
Feb 7, 2024
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Matt Brown
1
Stablecoins in 1,000 words
Jan 7, 2025
Vertical AI: beware what you wrap
Mar 26, 2025
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Matt Brown
Cross-border payments in ~1,000 words
Nov 21, 2024
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Matt Brown
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The thermodynamics of risk
Fintechs reduce cost and friction—but risk is conserved. The winners don't avoid risk. They transform it into a type they're built to manage.
Jan 12
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Matt Brown
Your data model is your destiny
Your product's core abstractions determine whether new features compound into a moat or just add to a feature list. Here's how to get it right.
Oct 14, 2025
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Matt Brown
Embedded fintech in 1,000 words
What do airline loyalty plans, tractor loans, and iPhone insurance tell us about the future of financial services and the evolving role of fintech in…
Aug 13, 2025
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Matt Brown
Why VC and software have PE envy
Gone are the days of minority investments in high-growth, asset-light, software-led startups. Why do so many VCs and VC-backed companies seem to be…
May 13, 2025
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Matt Brown
Vertical AI: beware what you wrap
Forget being dismissed as a ChatGPT wrapper. Anyone building vertical AI should fear being a wrapper around a system of record.
Mar 26, 2025
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Matt Brown
Stablecoins in 1,000 words
Stablecoins are an exciting and powerful upgrade to financial technology, both in their own right and complementing traditional fiat money movement…
Jan 7, 2025
Cross-border payments in ~1,000 words
A gentle introduction to correspondent banking, money transmission, payment aggregation, and stablecoins, as well as cross-border payment business…
Nov 21, 2024
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Matt Brown
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Matt Brown's Notes
Notes on fintech, vertical software, and VC.
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