The data says it takes 7-10 years for startups to build real value, possibly longer without external capital.
I can celebrate that Daily Fintech has come a long way from a single blog post in 2014; but I also know that we have a long way to go. On our 5th birthday we chose to de-emphasise the advisory business (which we had used for bootstrapping) so that we could focus on building a scalable media business. To that end we created a paywall, which forced us to up our game in every way, including content expansion, reader experience & monetization.
We are investing in technology to meet these needs. Content is where we started and content will always be our core, but we need to become a tech-enabled media business in order to scale content while maintaining the high quality that we are known for.
We have two big external trends on our side:
- Fintech is growing & becoming mainstream. According to research by UBS, Fintech industry revenues will more than triple from USD 150bn in 2018 to USD 500bn in 2030, implying an average annual growth rate about three times faster than the broader financial sector’s. We need to grow our content to match that reality.
- Work from anywhere trend accelerated by the pandemic. Daily Fintech has been a decentralized operation since we started so the fact that “talent is equally distributed, opportunity is not” (Leila Janah) means that location is never a factor in our hunt for talent.
Content is the apex of the knowledge economy, a fact often obscured by the turmoil in the media business. Watch this space as we announce new services.