$SQ is a brand.

They are a company about economic empowerment, but their first means is always via brand.
Cash App is creating a narrative.

They are telling a story.

A story about investing, crypto and much more.
Then Cash App did the same for My First Stock.

Cash App is trying to create a narrative. https://cash.app/stocks 
Spending so much time worrying about a brand for a peer to peer payment system is odd.

But it makes sense if it lowers CAC and increases LTV.
But the branding of Cash App isn’t only about CAC or LTV.

It’s about the user experience. Square believes branding improves user experience.

Square even branded their Square Crypto department. Square is a brand company. https://medium.com/@squarecrypto/designing-bitcoin-for-everyone-e6626c592c2
The below risk is listed near the top of risks on all of $SQ 10-Qs.

First and foremost, Square is a brand.

“Our business depends on a strong and trusted brand, and any failure to maintain, protect, and enhance our brand would hurt our business.” https://shop.cash.app/ 
Other businesses aren’t like this.

Or if they are, they can’t back it up operationally.

Square can.

Long $SQ
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