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Matt Brown's Notes

notes.mtb.xyz

Notes on fintech, vertical software, and VC. Click to read Matt Brown's Notes, a Substack publication.

Crypto / fintechTech news / industry

’22’23’24’25’26
Posts
43 from 8 Jul 2022 to 1 Sep 2026
Posting
monthly (7 in the last year)
Kind
personal blog
Feed
https://notes.mtb.xyz/feed

2026 7

  1. Investing in Light
  2. Card issuing in 1,000 words
  3. Vertex 2026: notes from the vSaaS world
  4. The 150-Pound Computer
  5. Fintech's moats don't compile
  6. Vertical software already won the context graph
  7. The thermodynamics of risk

2025 5

  1. Your data model is your destiny
  2. Embedded fintech in 1,000 words
  3. Why VC and software have PE envy
  4. Vertical AI: beware what you wrap
  5. Stablecoins in 1,000 words

2024 14

  1. Cross-border payments in ~1,000 words
  2. The secrets to pricing payments in vertical software
  3. VerticalSoftware.FYI
  4. Invisible asymptotes in vertical software
  5. Price and shape risk that others can't or won't
  6. Investing in Rainforest
  7. Real-time payments in 1,000 words
  8. The new fintech stack is... open source?
  9. A data-driven look at fintech adoption in vertical software
  10. A chat with Michel Rbeiz, Toast's GM of Fintech
  11. Dangerous language in startups
  12. Payfac in 1,000 words
  13. Dark software
  14. Fintech from first principles

2023 10

  1. Hedgehogs, foxes, and VCs
  2. B2B payments aren’t payments, they’re workflows
  3. Vertical, horizontal, and ghost markets
  4. Fundraising for fintech infra is different
  5. The iron triangle of embedded fintech
  6. Bundling, unbundling, and timing
  7. The best fintechs turn risk into leverage
  8. Why aren’t there more winner-take-all dynamics in fintech?
  9. Interchange is a burning platform
  10. Interchange in 1,000 words

2022 7

  1. How to index an entire business model
  2. The power of point-of-sale products
  3. Undifferentiated heavy lifting in fintech
  4. Request for Fintech Startups - Summer 2022
  5. VERP Product Strategy: Vertical Software, Payments, and Beyond - Part 3/3
  6. How to Build a Category-Defining VERP - Part 2/3
  7. The Golden Age of Vertical ERPs - Part 1/3