jhuckestein
Joined 16 years ago
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1,524
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527
Member since
Feb 4
Recent submissions
Comment · 7 years ago
hey, i work at monzo
we're currently making money from interest charged on loans that we make to our customers, from interest that the central bank pays us on our deposits, as well as from interchange that we earn when our cards are used. this is what most banks do (except they also make lots of money from fees that we don't have)
there are several other ways we'll make money and we just started experimenting with a few of them. we launched a premium account that charges a monthly fee [1], we operate a savings marketplace in which we earn a commission [2] and we help people switch their bills to a cheaper provider if they are currently overpaying [3]
we release our financial statements every year and new ones are coming out soon. feel free to have a dig then :)
[2] https://monzo.com/features/savings/
[3] https://monzo.com/blog/2019/05/08/switch-energy-supplier-thr...
Comment · 7 years ago
Hey, thanks for flagging. I will look into that. The number is definitely meant to be staffed at all times
Comment · 7 years ago
Massive congrats to the team - what a great and well deserved outcome :)
Comment · 8 years ago
I have been reading HN regularly for 10 years. It has taught me everything I needed to know to get started. I applied to YC 4 times, got rejected 3 times, crashed one startup and ultimately found my current cofounder through the YC community.
HN is not perfect, but I am incredibly grateful for everything it has given me. Like so many here, I couldn’t have done it without Hacker News :)
To this day, the advice I give anyone who wants to get into technology or starting a company is to read everything on HN for 3 months and to look up all the things you don’t understand.
Comment · 9 years ago
I work at Monzo. We've posted an update on the situation on our blog: https://monzo.com/blog/2017/03/05/outage/
Comment · 9 years ago
CTO at Monzo here. We are really sorry about that.
One of the things we have learned from this incident is to proactively reach out to all customers as early as possible, even if it means alarming a large number of people.
We did tweet about the incident and updated our statuspage the moment we discovered it, but we didn't proactively message all customers until a few hours later.
Comment · 9 years ago
The thing is, the user experience of Uber, Lyft et al is strictly better than public transport. Some would even say it is 10x better (in the From Zero to One sense). It picks you up whenever you want, wherever you want and drops you off exactly where you need to go.
I agree that buses are more ecological, but doesn't this just mean that we should combine Uber and public transport? In the future I see a fleet of larger vehicles combined with a Uber Pool type app working really well. And even further in the future these vehicles would be self driving.
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