NEW ORLEANS PELICANS AND SAN ANTONIO SPURS TO PLAY REGULAR-SEASON GAMES IN PARIS AND MANCHESTER IN 2027 Spurs and Pelicans to Face Off on Jan. 14 in Paris and Jan. 17 in Manchester The NBA today announced that the New Orleans Pelicans and the San Antonio Spurs will play regular-season games at the Accor Arena in Paris, France, on Thursday, Jan. 14, 2027, and at Co-op Live in Manchester, England, on Sunday, Jan. 17, 2027, as part of the league’s multiyear slate of regular-season games in Europe. The NBA Paris Game 2027 presented by Tissot will mark the 16th game featuring an NBA team in France since 1991 and the league’s sixth regular season game in Paris. The NBA Manchester Game 2027 will mark the 20th game featuring an NBA team in England since 1993, the league’s second game in Manchester and first regular-season game in the city.

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Revolut is no longer hinting. It does not want to be a big lender. That is the clearest thing Nik Storonsky said in Paris. Les Echos asked the awkward bank question: will Revolut finance the economy, including in a crunch? His answer was direct. “Today, the majority of our revenue comes from transaction fees, not loan margins. This makes us a virtually risk-free institution, and we intend to maintain this strategic focus. We also want our model to be as easy as possible to explain to regulators.” He did not say Revolut will never lend. He said lending is not the model. “If our clients want credit cards and loans, we must offer them. But credit will remain a minority part of our business.” And if the book grows: “We will securitise these loans to maintain the leanest possible structure and a very low level of credit risk.” That is similar to what Antoine Le Nel said about lending as about 5% of the mix. Nik has now made it official. Credit is a product line, not the engine. The engine is still fees. The balance sheet stays thin. The story to supervisors stays simple. That is how Revolut wants to look like a bank without becoming one. Mortgages already exist in Lithuania. The French licence is meant to unlock cards, loans and, later, home loans. None of that changes the weighting. “That may happen one day”, about turning into HSBC or Barclays, “but it’s not a priority. For now, we’re focusing on simple, standardised products.” The interesting tension is outside Europe. Nubank, Plata, SoFi and Chime live in markets where credit is the product. Cards, points, instalments, the whole loop. Nik knows that very well about the US. “It’s a credit-driven market, using credit cards, points, and discounts. This model is financed by high interchange fees.” They have pre-approval on a US banking licence. “Once we have the licence, we can launch our credit card with numerous benefits. I’m convinced it will be a success.” The existing US business, he said, is already profitable with no marketing spend. Becoming a bank is how they accelerate it. So the open question is not whether Revolut will offer credit. It is whether it can stay credit-light and still be relevant, especially in the US and Latin America. A rewards card funded by interchange is not the same as building a Nubank-style credit engine. Securitisation is the workaround: originate, sell the risk, keep a fee, keep the balance sheet light. Nik’s answer to the “you will starve the real economy of loans” is “What we’re doing is introducing competition and driving prices down. It’s not about reducing the banks’ profit pool to the point where they can no longer lend.” It's clear that the original meaning of Nik's saying, “We want to replace banks, simple as that”, has changed. Revolut sees itself as a payments and deposits machine that will sell credit where the market demands it, then try not to own the risk. Whether that is enough against firms that are the credit market, he has yet to prove. Nik made from page of Les Echos

If you’re in your 20s (and ambitious) do everything to move to those 4 cities Yes people will mog you for paying extortionate rents for such little comfort but who cares, you’re not everyone, you’re on a mission, you’re here for greatness London/NYC/Paris/SF are basically the golden 4. They’re not just big cities, they’re global sorting machines. People move there from all over the world because they want sth badly enough to accept all the downsides. The guy born in London can be lazy. But the 26yo Frenchman, Indian, American, Italian, Nigerian, Lebanese etc who voluntarily accepts the tiny flat, shit commute and absurd rent to be there has already self-selected pretty hard And that selection compounds. I felt it instantly moving from my hometown in France to London. Growing up I was always “the ambitious one” in my friend group. Then you arrive in London and suddenly you feel extremely average. Everyone is trying to do sth. Completely changes your reference point for what a normal person can achieve The other thing is just how many serious games are happening at once. If you know at 22 that you’re going to be a semiconductor engineer forever, maybe there are better specialised places. But most ambitious 24yos have absolutely no clue what game they’ll eventually want to play. In London/NYC/Paris you can accidentally become friends with people in PE, startups, politics, law, media, fashion, pharma, academia etc. Your finance friend dates someone in fashion, their roommate is building a startup, you meet someone in politics at dinner. Suddenly 5 completely different lives feel plausible That’s insanely valuable when you’re young precisely because you don’t yet know which people / industries / opportunities will matter to your 34yo self SF is the weird exception because it’s basically one giant concentrated bet on tech/AI. Much narrower than the other 3, but that game is so asymmetric rn that it deserves its spot. If you want to build at the frontier there’s probably no other place where your reference class changes that aggressively And yh everyone keeps saying the internet made geography irrelevant. Maybe for information. Definitely not for trust/friendship. Anyone can learn from the same people online now, send the same cold DM, follow the same accounts. Much harder to replicate being the guy someone has had 20 dinners with, worked with, travelled with, introduced to friends and randomly bumped into for 5 years When you’re 24 and nobody knows who tf you are, geography can do a lot of the work for you. You get invited because your colleague knows someone. You end up at a dinner because your friend needs a +1. Someone you met 3 years ago leaves and starts a company. Another moves to NYC. Another becomes a partner somewhere. Most of the ROI is completely impossible to predict upfront Basically before you have your own gravity, borrow the city’s At 45, if you’ve built the company / reputation / money / audience / network, you can go live in Tuscany, Mallorca, South of France or wherever and people will come to you. At 24 no one is coming lol. You should probably be where everything is happening And tbh if you have the ability to move I wouldn’t spend 3 years waiting for the perfect job / apartment / timing. Get the shitty room, accept being poorer for a while, figure it out once you’re there. Your 20s are probably the cheapest years of your life to tolerate inconvenience anyway You can optimise sqm, weather and comfort later At 24 I’d rather maximise how many possible lives are available to me