Fascinating report. The Flutterwave-Mono acquisition really changes the competitive dynamics when the infrastructure owner also competes downstream. I wonder if other players wil start building their own rails or if we'll see more consolidation. That Temu customs prepayment system is smart, removing friction at exactly the bottelneck that kills most cross-border e-commerce. The M&A trend makes sense given funding constraints, but seems like 2026 will separate those with real moats from those just burning to grow.
Thanks again for the engagement. I regret not moving the Temu piece up higher this week as I agree that it stands out for directly taking on an eCommerce killer. I have always believed true moats beat blitz-scaling. In some funding environments it is valued higher than in others. This year may be one such environment.
Fascinating report. The Flutterwave-Mono acquisition really changes the competitive dynamics when the infrastructure owner also competes downstream. I wonder if other players wil start building their own rails or if we'll see more consolidation. That Temu customs prepayment system is smart, removing friction at exactly the bottelneck that kills most cross-border e-commerce. The M&A trend makes sense given funding constraints, but seems like 2026 will separate those with real moats from those just burning to grow.
Thanks again for the engagement. I regret not moving the Temu piece up higher this week as I agree that it stands out for directly taking on an eCommerce killer. I have always believed true moats beat blitz-scaling. In some funding environments it is valued higher than in others. This year may be one such environment.