Alex Rampell is a general partner at Andreessen Horowitz, where he leads the firm’s $2.7 billion Apps practice and has driven much of the firm's fintech investing, including Plaid, Mercury, and Opendoor. Before a16z, Alex co-founded multiple companies including Affirm (NASDAQ:AFRM), FraudEliminator (acquired by McAfee in 2006), Point, TrialPay (acquired by Visa in 2015), TXN (acquired by Envestnet in 2019), and Yub (acquired by Coupons.com in 2013).

In this episode of Summation, Alex and Auren discuss:

• Why Visa is the purest network effect business in the world and why it's still a duopoly
• The reverse Robin Hood hidden inside every rewards credit card
• The "hostages, not customers" test for which software companies survive AI
• What was once payroll becoming payments and the businesses it unlocks

You can find Auren Hoffman on X at @auren and Alex Rampell on X at @arampell