This podcast episode tells the incredible story of Visa, the company behind the ubiquitous blue, white, and gold card that enables electronic fund transfers worldwide. It delves deep into the origins of the credit card industry, starting with Bank of America's pioneering BankAmericard program in 1958 and the subsequent rise of competitors like MasterCard. The episode spotlights Dee Hock, Visa's visionary founder, who recognized the limitations of the early licensing system and championed a revolutionary cooperative, member-owned structure for the company. Hock's emphasis on decentralization and self-governance, coupled with his foresight in developing Visa's robust technological infrastructure (including VisaNet and a pioneering automated clearinghouse system), propelled Visa to its dominant position in the global payments landscape. The episode also explores the evolution of Visa's marketing strategy, highlighting the pivotal role of the Olympics partnership in solidifying the brand's image and global recognition. Despite facing increasing competition in the digital age, Visa remains a financial behemoth, boasting an enviable business model that continues to generate extraordinary profits.