Among experts in the field of fintech, Michael Zetser is a great mind whose ideas about the future of the industry are unique and daring. He is a visionary entrepreneur working in the world of finance and building efficient solutions for businesses and individuals.
While his success in the highly competitive fintech industry is impressive, his view from the vantage of rich experience is even more useful to all of us.
We will look at some of the most interesting opinions of Michael Zetser and try to dismantle them to a point where anyone can understand them.
Looking years into the future
Michael Zetser one stated: “I love watching the world of crypto evolving and changing. I do not want to act as a messiah and make prophecies. The whole crypto industry could turn out to be a complete scam or grow into the biggest financial miracle the world has ever seen.
Either way, fintech startups should be more than excited to roll out crypto-adjacent features and integrating them into their products and services.”
In essence, Michael Zetser believes that the future of fintech is tied to the future of crypto, regardless of how you think of coins like BTC and ETH. In some ways, it is true.
Despite the crash in May of 2022, the industry managed to stabilize and find a good spot. Even several huge scandals did not create a situation where all investors pull out their capital.
Millions of people around the globe are interested in using crypto as a hedging mechanism against failing national economies and fiat currencies. The trend is visible across the globe.
Even if the whole idea of decentralized money fails spectacularly, it is a highly important phenomenon to a sufficient number of investors to justify the existence of services that will work with crypto assets.
Being lean and flexible is key to success
In one of his interviews, Michael Zetser said: “the incredible complexity of contemporary startups is something that concerns me. Scaling up rapidly without properly establishing management structures and addressing staff bloating is a big mistake that many rookie entrepreneurs make. I strongly believe that we need to approach the process of creating new products differently: be leaner and more flexible.”
What fintech entrepreneur Michael Zetser means is that many young startups invest in staffers that do not bring any immediate value. Support specialists, PR managers, HR managers, and many other people simply do not generate enough value to justify being in the team at the beginning of the journey. Many startups spend too much money on hires that make their company cumbersome and slow.
This hiring policy is replicated throughout the fintech industry, with many companies failing to last for more than a couple of years before disappearing and filing for chapter 11. Michael Zetser believes that startups should be run by small, efficient teams and be ready to adapt to any new challenges.
Achieving success against all odds
“I had many moments when I thought that my company is done. I had many moments when I saw my competitors and did not believe that I can catch up. However, I kept pushing and doing my thing. Some of my startups failed to reach the highest potential, but they were still successful and occupied a certain niche.
That was enough for me to create something useful and valuable!” Says Michael Zetser.
Many people think that they must create a perfect product that will take the world by storm. However, the reality is that you only need to create a good product that brings value to users.
If you achieve it, you are already successful and can be proud. If there is a solid chunk of the audience for your product but you still lose to your competitors, start focusing on delivering a good experience to those who chose you!