Fintech 

Meet the Klarna mafia

In 2005, from a tiny back-office in the Stockholm, three young post-graduates created Klarna; a company that has gone on to become Europe's most highly-valued fintech.

But that's not all they've created. Klarna has also formed a generation of top-class engineers and managers who are now becoming founders themselves, helping to seed a new generation of European startups.

Here we meet the Klarna mafia and find out what they are building.

Who are they?

🌍 Behind the global digital migration 🌍

Staying at home has shook the entertainment industry. Streaming-video consumption has spiked and big movie releases have switched to on-demand video.

Goldman Sachs’ new podcast miniseries looks at how industries are responding to the rapid rise of the digital economy.

Listen to “Exchanges at Goldman Sachs: The Battle For Our Screens” now. 
[Sponsored post]

 Startup Life 

Let's stop using the term BAME

The BAME category, which classes together Asians with black and mixed-race people, is letting organisations off the hook. Companies can tout their BAME credentials without employing a single black person.

Suranga Chandratillake, partner at VC fund Balderton Capital, says: “To be blunt — in our industry — if you look like me, it is not a bad thing. It is totally different if you are black. People will see me and assume I am a computer guy. My existence props up the industry’s numbers on diversity, but I am really not sure it should.” 

Is it time to ditch BAME?

🛋️ Banks need to be better psychologists to compete with fintechs 🛋️

Incumbent banks have just a short window of opportunity to fight back against fintech challengers, says Nikolai Hack, head of strategy at Nucoro, before they find themselves in real trouble.

They need to be better psychologists... and also learn from car dealers and online supermarkets 

Here's why. [Sponsored post]

 Policy 

Creating a trillion-euro tech company

European policymakers used to want to create tech “unicorns” worth more than €1bn.

Today they are setting their sights much higher, saying they want to create €50bn or €1,000bn companies.

It a sign that Europe is finally showing some ambition. Or have policymakers lost the plot?

Decide for yourself.

🤸‍♀️ Share the fun 🤸‍♀️

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Sifted Suggests 

👿 One founder's brutal feedback to a toxic board member. This has been really doing the rounds and is worth a read. 

😱 A harrowing Twitter thread about life as a late-stage founder from the now-former CircleUp CEO. Does not sound super-fun. 

In case you missed it 

🔋 Europe is making faster cars and better batteries than Tesla.

🔫 Digital bank ‘mafia’: Monzo and Revolut employees who have become founders.

🍄 Taking psychedelics with your boss — is that a good idea?

Events
 

👩‍💻FT NextGen Event | Online | 22 Oct
Financial Times is hosting its second FT NextGen event — online! Workouts, property investment and dating during Covid. Register today and use promo code NextGen2020 to receive £5 off your pass. [Sponsored post]

🏫 Ethics in EdTech | Online | 21 Oct
Adam Green talks about ethics in edtech in this free event on Zoom.

🌱 Tech Starter Discussion | Online | 20 Oct
Tech Starter is a program targeting female STEM students in Irish colleges across Ireland, but the talk could be interesting for anyone looking at a career in tech. Also free.