Thoughts from a Bafta nominated Podcaster, Blogger, Writer and Commentator.
I know a lot of my readers head out to Austin and South by Southwest every year, so a timely remember to check that passports are up to date, any visas have been applied for, and you’ve registered with the Homeland Security laser-super-computer’s ESTA program. And you’re reading SXSW Baby!, yes?
There’s something delightfully old school and twisted about Square grabbing as much VC capital as possible – another $100 million today, valuing them at over $1 billion - knowing that the cash is effectively a loan which will have to be paid back (via IPO or a sale) in the future with a lot of return. That’s a huge APR to take on board just to challenge the credit card companies in their own backyard.
Square aims for a $2 billion valuation: Momentum aside, Square is trying to do something that’s incredibly hard and expensive. Everyone agrees that payments need to be disrupted again (except maybe eBay and the credit card companies), and given the general antipathy towards to financial sector, the time is right. And Square seems to have the best shot of anyone out there. Hold on a minute, Square is going to disrupt the payment system? With Visa as an investor and one of their own advisors on the board? Sitting next to someone from JP Morgan? Friends close, enemies closer.
While my big tip (go to all three SXSW events) will probably be pushed aside with thoughts of the extra cost, there is one thing that travellers from outside the USA heading to Austin for one of the largest cultural conferences should take note of. Those of you travelling on the Visa Waiver system to the USA will have been used to the delightfully green form you get handed as you board your flight to the New Country. This has been replaced with an electronic version of the form that has to be filled in 72 hours or more before
