Top VCs Talk the Future of Fintech

Hello again – Jordan Parker Erb here. Insider caught up with 26 fintech VCs who remain bullish on the sector, despite the market downturn. Additionally, Apple could owe you up to $395 after settling a lawsuit over its infamous “butterfly” keyboards.

Come on, let’s dive in.

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1. Meet emerging fintech VCs who remain bullish on the sector. Insider caught up with two dozen venture capitalists who are excited about what’s next for fintech, even amid a market and investment pullback.

• Fintech startups have been hit hard by the market downturn and growth in subsectors has slowed – but some VCs remain enthusiastic about the sector.
• Some, like Mercedes Bent, a partner at Lightspeed Venture Partners, said that even during a market downturn, fintech remains a “huge need for the everyday person.”
• Mark Fiorentino of Index Ventures described the market downturn as a “fintech hangover” – but added that “some of the most interesting opportunities exist when markets are in a downturn.”

Here’s what other top VCs are saying about fintech.

In other news:

2. Apple will pay some customers up to $395 after settling a class action lawsuit. After the company agreed to a $50 million settlement over its “butterfly” keyboards, customers who have had to replace a keyboard since 2015 should be eligible for a payout. Here’s what you need to know.

3. A TikToker and his pets earned about $178,000 from branding deals on Pearpop — and that’s just a fraction of his total income. “TooTurntTony” explains how he went from uploading a few posts a day in 2020 to landing major brand deals. Meanwhile, other creators say low payouts from TikTok’s Creator Fund are affecting their mental health, with some quitting altogether.

4. Not all Netflix content will be immediately available on the ad-supported subscription. Netflix has hundreds of original shows and movies on its platform — but don’t expect the ad-supported plan to have the entire catalog when it launches. We explain why.

5. This resume landed a 24-year-old a Google internship — without even applying. After attending a two-day program run by Google, a recruiter found Canisha Chakadya’s resume and invited her for an interview, without even submitting an application. See your resume and Chakadya’s tips for standing out.

6. Meta is being sued by a VR company — also called Meta. The 12-year-old VR company is suing Facebook’s parent company, accusing the tech giant of stealing its name for its metaverse rebrand. Get the full overview here.

7. A 25-year-old earns $30,000 a month from his Shopify apps. Mat De Sousa, an entrepreneur in France, runs two Shopify apps, WideBundle and WideReview, which he says together generate thousands of dollars each month. Read his tips for being successful in the room.

8. Tesla has paid off most of its bad bitcoin bet. The company said it sold 75% of its massive bitcoin stake, converting $936 million of the cryptocurrency into fiat between April and June. What you should know about Tesla’s ten-figure bitcoin stake.

Odds and ends:

9. See the superyacht Elon Musk vacationed in Greece. After photos of a shirtless Musk went viral, we took a look at the yacht he was spending time on — and found out it’s a 24-meter luxury vessel, called the Zeus, that can be rented for over $7,000 a day. Here’s a look inside the superyacht.

10. A retro game console is coming this fall. A miniature replica of the classic game console, the Sega Genesis Mini 2 comes with more than 50 games already installed. It launches on October 27 – here’s what you need to know.

What we’re looking at today:

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Curated by Jordan Parker Erb in New York. (Feedback or tips? Email [email protected] or tweet @jordanparkererb.) Edited by Hallam Bullock (tweet @hallam_bullock) in London.