Insights

Perspectives on payments, technology, and markets

Analysis on stablecoins, payments technology, and the forces reshaping financial markets.

FeaturedInvestment Thesis

Payment Infrastructure: Margin Expansion Through Rails Substitution

$100B in direct fees. $50B addressable. A one-time infrastructure upgrade with permanent margin improvement.

SRS
Santiago Roel Santos
Feb 2, 2026 · 20 min read
9 articles
Macro & Policy8 min

Yield and Uncertainty

Navigating yield in a world of persistent uncertainty — what matters for capital allocators now.

SRS
Santiago · Feb 5, 2026
Investment Thesis10 min

The Telco-to-Fintech Arbitrage

How MVNOs are quietly becoming the next frontier for fintech disruption — and what it means for acquiring and transforming legacy telecom businesses.

ÁG
Álvaro · Feb 4, 2026
Market Analysis10 min

The Mathematics of the Purge

Why the current market correction is mathematically inevitable — and what comes after.

SRS
Santiago · Feb 1, 2026
Investment Thesis8 min

How to Build Forever Money

The framework for building durable, compounding businesses that generate permanent value — and why most investors get it wrong.

ÁG
Álvaro · Jan 28, 2026
Investment Thesis12 min

Stablecoins: The B2B Opportunity

Why stablecoin infrastructure will reshape B2B payments the way cloud computing reshaped enterprise software.

SRS
Santiago · Jan 24, 2026
Investment Thesis8 min

2026 Will Make This Obvious

The trends that will become consensus by year-end — and why positioning matters now.

SRS
Santiago · Dec 23, 2025
Investment Thesis15 min

The Odds Are Against Financial Superapps

Minimizing churn is the single most important thing. Businesses optimizing for short-term extraction will look strong early, and much more fragile later.

SRS
Santiago · Dec 21, 2025
Investment Thesis10 min

The Most Uncomfortable Phase of Crypto Has Begun

Adoption is accelerating. Prices are lagging. The durable winners will bury crypto inside workflows, payments, and balance sheets.

SRS
Santiago · Dec 18, 2025
Market Analysis14 min

The Exponent Is Real — But So Is Gravity

I believe in the exponent. I believe in technology. And I’ve put more on the line than most. But optimism makes money — skepticism keeps you alive long enough to make it.

SRS
Santiago · Nov 29, 2025
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