{"type":"rich","version":"1.0","title":"CapitMonet wrote","author_name":"CapitMonet (npub15q…n43pr)","author_url":"https://yabu.me/npub15qydznwe6gl3j57qusn0x8tum2fxlgkyt30udrpz6tctngr22zkqvn43pr","provider_name":"njump","provider_url":"https://yabu.me","html":"$V Visa makes ~$20B net profit a year.\n\nNo lending. No credit risk.\nIt doesn't underwrite. It processes.\n\nEvery swipe. Every tap. Every country.\n200+ markets. 24/7.\n\nToll booth on global commerce.\n\nThe model:\n→ You spend → Bank processes → Visa gets paid\n\nConsumer up? More volume.\nConsumer down? Less volume — margins hold.\n\nThe moat is network depth.\nReplicating it = decades + billions.\nAnd convincing every bank on earth to switch.\nThat last part is the hardest.\n\nNot risk-free:\n→ DOJ antitrust pressure\n→ UPI / PIX bypassing rails\n→ Fee caps in Europe\n\nWhat's real:\n→ ~50% net margins\n→ Consistent growth\n→ No reliance on credit cycles\n\nNot the cheapest. One of the best-built models.\n\nYou're not betting on innovation.\nYou're betting the world keeps paying."}