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Reinventing Goldman Sachs
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Reinventing Goldman Sachs

Plus: Competition in Banking, Customer Germination, Affirm IPO

Marc Rubinstein
Dec 11, 2020
17
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Reinventing Goldman Sachs
www.netinterest.co

Welcome to another issue of Net Interest, my newsletter on financial sector themes. Net Interest now gets delivered to over 10,000 people each Friday, up ~700 on last week (thanks Josh!) If you’re reading this, but haven’t yet subscribed, join the discussion and sign up here.

Reinventing Goldman Sachs

Stripe is a company founded in 2010 in San Francisco. It builds software which allows companies to accept payments and manage their businesses online. Its mission is grand: “to increase the GDP of the internet.”

Goldman Sachs was founded much earlier, in 1869 to be exact, in New York City. It provides a wide range of financial services to companies, financial institutions, governments and more. Its mission is “to advance sustainable economic growth and financial opportunity across the globe.”

The two companies have a few things in common. They were both founded by immigrants from Europe. Their customers are typically businesses rather than consumers. [1] And, as their mission statements refl…

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