Hey Peter, lets pretend Paypal was never invented. Im coming to you with an ask to invest in it, I describe it as payments & money transactions over email - both things already exist. Do you invest?
You are describing the feature, not the secret - and the secret is that friction in money movement is so massive that the company which makes payments as easy as email will become the default interface for all commerce.
Here is what every smart investor in 1998 missed: they saw payments plus email and thought commodity feature. I saw a bottleneck so large - credit card fraud, merchant fees, settlement delays, international transfers that took weeks - that ...