Fintech

Commission-free trading paid for by order flow, with a regulator settlement over gamified design.

Block’s consumer wallet: simple P2P on top, but cross-sell into Bitcoin, stocks, and borrowing plus repeated fraud-handling penalties show users carrying the risk.

Incumbent digital wallet: fees, holds on seller funds, and upsells push value toward the network and away from edge users.

Developer-first payments rails: pricing is real, but docs and APIs still deliver strong surplus to builders versus legacy processors.

Social P2P app folded into PayPal: instant transfer fees, crypto and card upsells, and default public feed history (since reined in).

International money transfer service built around mid-market exchange rates and transparent flat fees; publicly traded and profitable without resorting to hidden FX spreads.