If you look at the US, it's a large single market with a single currency. If there wasn't competition, I would just do the US as well. It's much easier. But companies in Mexico that grow have to go to other countries to increase their TAM.

And the reason part of what I realized from talking to people is if you look at The US, it's a large single market with a single currency.

22:50 / 23:28

And the reason part of what I realized from talking to people is if you look at The US, it's a large single market with a single currency. If there wasn't competition, I would just do The US as well. It's much easier. You would have done prex? Like, that would have been the that would have been the obvious thing. Yeah. That's exactly right. And so now if you look at a company in Mexico and the company is growing, what do they do? They actually go to Colombia. They actually go to The US. That's how they increase their TAM. Now they have the core problem, which is they have multiple cards, multiple currencies, multiple banking systems. So by definition, the geographical countries we're looking at, these companies that grow, to increase their TAM, they have to go to other countries. So they have a different core problem than just The US

Why this clip

This provides clear insight into why they chose emerging markets over the obvious US market, with logical reasoning about TAM expansion. It's a contrarian market selection strategy that challenges the default assumption of starting in the largest market first.

22:50 - 23:2838sBusiness Mechanics

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