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WEEK STARTING JULY 15


AUSTRALIAN FINTECH & STARTUPS

86 400 were granted their full, unrestricted banking license (a license to bill?). This has been a long time coming, and 86 400 are now can now call themselves a bank, alongside challenger volt. They didn't opt for a restricted ADI, a la Xinja, or decide to partner with an incumbent e.g. Up (and Bendigo/Adelaide), or go for the sandbox option, e.g. Revolut

Blackbird VC announced a $30m fund in NZ. Sweet as bru!

IGA is now going to accept crypto payments at their point of sale

Interesting read: Death to the ping pong table: the Aussie startups breaking the mould on employee perks. Well balanced approach on how Canva is bucking some startup stereotypes!

BIG TECH

Elon Musk announced 'Neuralink', a brain-machine interface company that aims to implant devices in paralysed humans' brains. Insane. Full presentation here

Facebook was slapped a $5bn fine for the Cambridge Analytica scandal. Can they repay in Libra?

Long read: The operational chaos at Grindr 

POTPOURRI

More Emoji are coming, with a focus on inclusion and diversity. And for some reason, a plate of falafel

You’ve probably seen or used the viral app ‘FaceApp’ this week, whose popularity stems from the ability to make faces in your photos older, or more hipster, or younger (etc). There are a swathe of articles on how your photos are being analysed, sent to Russia and that you’ll end up on a billboard in St Petersburg or something. Long story short: the privacy concerns are massively overblown, but valid. However, as with any cloud-based machine learning algorithm, your photos are being processed in a data centre somewhere to help train the app to be more accurate

It was the 50th anniversary of the moon landing

COOL FINTECH OF THE WEEK

Finix, a payments-infrastructure-as-a-service startup allowing businesses to be their own payment processors. They position themselves away from Stripe, Square and PayPal (payments behemoths) by targeting businesses with sub $50m in annual transactions, charging money through a monthly licensing fee & other surcharges (more economical than the % fees Stripe, Square and PayPal charge). Finix calls themselves the 'twillio of payments’ and recently raised $18m. Incredibly interesting proposition. More here

TRIVIA 
Answers at the end of the email

(a) Of the American Film Institute's Top 50 Movie Heroes, who was the only character that wasn't portrayed by a human?

(b) Which 1,980-mile river that starts in Canada is the longest in the Western Hemisphere that flows out to the Pacific Ocean?

(c) The line "We had everything before us, we had nothing before us" is found in the 1st paragraph of which 1859 novel?

JIMMY'S NOTES

I heard that some users are still copping the email into their spam folders, so I did some research and added the 'View in Browser' option, as well as the Mailchimp footer (apparently this helps). Let me know if it still happens!

Have a cracking weekend.

All the best,
Jimmy
FRIENDS OF THE INNER LOOP

Reinventure Jobs
Open roles within the Reinventure portfolio. Maybe time for a change to FinTech?



DiviPay Jobs
DiviPay is an awesome up and coming corporate card & expense management platform. Co-founder Dan has been a long time reader / fan of the Loop! Check out the link for some of the roles they are looking for as they scale up.

 
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Trivia Answers 

(a) Lassie

(b) The Yukon

(c) A Tale of Two Cities, Charles Dickens. Classic anaphora
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