Payment networks function as marketplaces, and while they are challenging to establish due to the chicken-and-egg problem, once solved, they can create very sticky businesses, as seen with successful companies like Airbnb and DoorDash.

The U.S. payment system is generally efficient, but there are inefficiencies in cross-border transactions that need to be addressed, particularly with real-time payment systems.

The internet has effectively removed intermediaries in many sectors, but the payments and finance sectors remain dominated by traditional systems like Visa, which extract significant fees.

When I started Alibaba, banks were skeptical about our payment system, claiming it would never work, but I knew that without a payment solution, e-commerce would not succeed.

The current payment infrastructure is outdated, having been established in the 1970s, and needs to evolve to compete with modern blockchain capabilities.

Airbnb's founders realized the importance of facilitating payments after a personal experience highlighted the need for a secure transaction process.

For innovative businesses, integrating stablecoins can simplify payment processes and reduce reliance on traditional financial institutions, presenting a significant opportunity.

Many startups fail because they don't adequately map out the flow of money in their target market, which is essential for securing funding and sustaining operations.

Startups often refuse to charge their users, which is a common issue we see repeatedly.