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$35T moved through #stablecoins on-chain this year.
~1% of it was an actual payment.
Meanwhile a bank needed months to validate one AI-agent transaction — and a 2-year-old #fintech shipped a production rail in a quarter.
Wrote up what's real vs. hype in #agentic #payments
Akhil Rao retweeted
JPMorgan’s Smart Cash is still a pilot, but it could be Agentic PFM+ 1.0, with the bank presumably owning the mistakes.
Dimon warns customers of ‘liability transfer’ with AI
buff.ly/xcUwQTv
No country has a law for #AI agents that make #payments. But regulators in Singapore, Hong Kong, the UK, the US, the EU and India are asking banks for almost the same six controls. Here’s the map. 99akhil.substack.com/p/every…
Akhil Rao retweeted
🔮 Gartner predicts that by 2029, at least 70% of organizations with production agentic AI in I&O will experience a material service, security or cost incident linked in part to insufficient runtime controls.
Find out with infrastructure enterprises need to support agentic AI at scale: gtnr.it/4pAS2Of
Why mandates, runtime limits and a decision trail belong between the agent and the #payments rail
#agenticpayments #ai
medium.com/@PaymentLabs/the-…
Akhil Rao retweeted
Goldman says new hires will manage AI agents from day one and skip years of entry-level work.
I started at Lehman in 2006 as the entry-level work. The agents have the same job description and don't need the suit.
Akhil Rao retweeted
AI agents are changing the shape of commerce.
We will see a new set of business models evolve for agentic commerce. I call it the Agentic Stack:
1. Personal agents: own the user’s intent
2. Merchant agents: become the new storefront
3. Agent Store: discovers and distributes merchant agents
4. Identity & consent rails: decide what an agent is allowed to do
5. Trust & security: verify agents and prevent fraud/manipulation
I wrote about what this could mean for commerce, fintech and the next generation of internet business models.
read here: osborne.vc/blog/agent-for-th…
3/ 3. Programmed: a rule written once pays on schedule
4. Autonomous: software picks supplier, currency, rail and date inside limits a person set
Akhil Rao retweeted
Revolut, valued at $115 billion, has become Europe's most valuable startup, with a customer base rivalling that of JP Morgan. Tommy Reggiori Wilkes explains why the big banks are taking notice reut.rs/3TF22KI
Akhil Rao retweeted
"Most people aren't looking to save time, they're looking for ways to spend their time."
9 of 15 consumer internet categories have zero AI products in the Top 100. These built some of the biggest companies of the last two eras:
- Streaming
- Social
- Dating
- Gaming
- Travel
- Retail
- Finance
- Real estate
- Jobs
More charts in our Top 100 Consumer AI Apps breakdown: a16z.news/p/top-100-consumer…
The seventh edition of our Top 100 Consumer AI Apps is here.
New this time: a revenue leaderboard, alongside the usual web and mobile traffic rankings.
Three years ago we published the first edition. ChatGPT was #1, Claude was unranked, and the entire category was chatbots, image generators, and not much else.
In today's edition:
- ChatGPT still holds the throne, now with 1B+ monthly actives on mobile
- Claude has climbed to #3 on web with nearly 1B monthly visits
- The category has expanded to vibe coding (Lovable, Cursor, Replit), music (Suno), design (Figma), voice (ElevenLabs), video (Higgsfield, Kling), agents (Manus), and even hardware (Plaud)
Full breakdown from @omooretweets: a16z.news/p/top-100-consumer…
Akhil Rao retweeted
76% of CEOs expect AI to have the greatest impact on their industries within the next three years—driving a race to capture value.
But without the right talent strategy, progress can stall.
🤖 Discover key insights on aligning talent strategy with your AI ambitions: gtnr.it/4jrytqv
Akhil Rao retweeted
Where does money invested into the AI buildout actually go?
For every $100 flowing into the supply chain:
- $50 to chips
- $20 to power
- $15 to networking
- $15 to cooling, buildings, and land
More charts in State of Markets II: a16z.news/p/state-of-markets…
Introducing our State of Markets pt 2, along with a companion podcast where we unpack the data and discuss what comes next.
Tech is the everything cycle.
Supply: putting the buildout in context, just passed railroads as % of GDP. The wisdom of Elon is real: the factory (or the datacenter!) is the product.
Demand: diffusion is so, so early. Median AI vendor spending in the top 1% of companies is 8x that of the top 10%. Only about 30% of S&P 500 companies report a quantified AI impact, which means there’s a substantial opportunity in connecting models to a company's data and workflows. Diffusion into companies is one of the main themes of the next 5 years.
We’re entering the agent work period. Only a few million users today, but applicable to billions of internet users with massive surplus created. META/GOOG monetize US users at $200+ per year today. Agent opportunity is much higher.
Mega-trends the next 5 years: Consumer agents, Robotics, Autonomy, AI x bio, Personal health, Diffusion into enterprise, New era of American Dynamism.
Much more in our SoM report here - a16z.news/p/state-of-markets…
@a16z @sarahdingwang @aleximm @santiago__rdz
Akhil Rao retweeted
Humans are the minority user of AI
Agents burn nearly 5x the tokens people do, up 14x since February
More charts in State of Markets II: a16z.news/p/state-of-markets…
Introducing our State of Markets pt 2, along with a companion podcast where we unpack the data and discuss what comes next.
Tech is the everything cycle.
Supply: putting the buildout in context, just passed railroads as % of GDP. The wisdom of Elon is real: the factory (or the datacenter!) is the product.
Demand: diffusion is so, so early. Median AI vendor spending in the top 1% of companies is 8x that of the top 10%. Only about 30% of S&P 500 companies report a quantified AI impact, which means there’s a substantial opportunity in connecting models to a company's data and workflows. Diffusion into companies is one of the main themes of the next 5 years.
We’re entering the agent work period. Only a few million users today, but applicable to billions of internet users with massive surplus created. META/GOOG monetize US users at $200+ per year today. Agent opportunity is much higher.
Mega-trends the next 5 years: Consumer agents, Robotics, Autonomy, AI x bio, Personal health, Diffusion into enterprise, New era of American Dynamism.
Much more in our SoM report here - a16z.news/p/state-of-markets…
@a16z @sarahdingwang @aleximm @santiago__rdz