Visa (Audio)

To paraphrase Visa founder Dee Hock, how many of you know Visa? Great, all of you. Now, how many of you know how it started? Or, for that matter, *who* started it? Who runs and governs it? Where is it headquartered? What’s its business model? For the 11th largest market cap company in the world, Visa’s history and strategy is almost shockingly unknown. A huge portion of the world’s population uses their products on a daily basis (you might say Visa is… everywhere people want to be), but very few know the amazing story behind how that came to be. Or why Visa continues to be one of the most incredible and incredibly durable business franchises of all-time. (50%+ net income margins!! On $30B of revenue!) Today we do our part to change that. Tune in for one heck of a journey. *Links:* - Burger King rolling out credit cards in 1993: https://twitter.com/historyinmemes/status/1703199359838679042?s=12 - Get your BankAmericard MasterCard today! (!?): https://www.bankofamerica.com/credit-cards/products/bankamericard-credit-card/ - Episode sources: https://www.acquired.fm/episodes/visa#sources *Carve Outs:* - I Think You Should Leave: https://www.netflix.com/title/80986854 - Mistborn: https://www.amazon.com/Mistborn-Final-Empire-Brandon-Sanderson/dp/0765377136 _Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions._

Ben GilberthostDavid Rosenthalhost

Nov 27, 20233h 43mWatch on YouTube ↗

EPISODE INFO

Released: November 27, 2023
Duration: 3h 43m
Channel: Acquired
Watch on YouTube: ▶ Open ↗

EPISODE DESCRIPTION

To paraphrase Visa founder Dee Hock, how many of you know Visa? Great, all of you. Now, how many of you know how it started? Or, for that matter, *who* started it? Who runs and governs it? Where is it headquartered? What’s its business model? For the 11th largest market cap company in the world, Visa’s history and strategy is almost shockingly unknown. A huge portion of the world’s population uses their products on a daily basis (you might say Visa is… everywhere people want to be), but very few know the amazing story behind how that came to be. Or why Visa continues to be one of the most incredible and incredibly durable business franchises of all-time. (50%+ net income margins!! On $30B of revenue!) Today we do our part to change that. Tune in for one heck of a journey. *Links:*
Burger King rolling out credit cards in 1993: https://twitter.com/historyinmemes/status/1703199359838679042?s=12
Get your BankAmericard MasterCard today! (!?): https://www.bankofamerica.com/credit-cards/products/bankamericard-credit-card/
Episode sources: https://www.acquired.fm/episodes/visa#sources
*Carve Outs:*
I Think You Should Leave: https://www.netflix.com/title/80986854
Mistborn: https://www.amazon.com/Mistborn-Final-Empire-Brandon-Sanderson/dp/0765377136
_Note: Acquired hosts and guests may hold assets discussed in this episode. This podcast is not investment advice, and is intended for informational and entertainment purposes only. You should do your own research and make your own independent decisions when considering any financial transactions._

SPEAKERS

Ben Gilbert
host
David Rosenthal
host

EPISODE SUMMARY

In this episode of Acquired, featuring Ben Gilbert and David Rosenthal, Visa (Audio) explores visa’s rise: bank consortium becomes global payments network juggernaut infrastructure The episode traces Visa’s origin from Bank of America’s 1958 “Fresno drop,” where unsolicited BankAmericard credit cards sparked fraud and defaults but proved the model at scale.

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