Trade Republic

Comparison Portal now lists more than 12 providers that have announced one.

And Trade Republic had confirmed back in April.

So yes, This is also mad, but honestly, that was too easy to call.

We should not get credit for predicting something that has already happened.

So if you think about the kind of biggest privately funded companies across Europe, Revolut's got the highest valuation.

and fintechs like Trade Republic.

And my take on it is that a lot of these hot startups and fintechs across Europe are still heavily investing in Europe.

If you think about Revolut, they're heavily invested in France.

So if you have a blockbuster IPO like a Revolut, Wise was pretty significant.

If that capital stays in the country that company was built in, it can help foster a virtuous cycle of funding the next round of startups, as well as the talent piece that we've been talking about.

It's like, okay, hopefully the early employees of Wise and Revolut and Trade Republic, You know, hopefully they worked hard, got rich and go on and either, you know, write angel checks or go on and found their own startups.

And so it is a matter of kind of kickstarting that cycle and understanding what are the root causes that are sort of challenging it from taking hold and trying to work to solve those.

My prediction says at least three competing products by Q1 2027.

Watch for announcements from Trade Republic, direct banks or the new banks.

The first mover in this space will set the user experience standard and whoever sets the standard tends to capture the largest share of retail capital.

Number four, ESA aerospace launch window.