Mpesa only succeeded because the regulators were unclear on how big this would get or how to handle it and who was accountable – the banking regulator or the telco one!

Is Netflix broadcasting? Is Spotify a radio station? Is a cloud service an asset?

The more ambiguous something is the easier it is to arbitrage the heck out of it.

If I move airtime to you is it a payment ?

Is it a deposit if I give you money that I don’t intend to withdraw.

Look for the dark places. That’s where creativity thrives. Away from light and scrutiny.

By the time you see what’s under the rock it’s too late to kill it!