Modality Group Sexual Circular Economy

When most companies talk about the “circular economy,” they usually mean building an economic system that leaves zero waste. But what counts as waste? Is it just material waste? Or can it also include a product’s social side effects?

These are just a few of the questions we have been asking ourselves at Modality — questions we do not have answers for yet. In fact, we are still defining exactly what we mean when we use the term. Our working definition involves reducing three kinds of waste:

  1. Environmental Waste

Here, we mean any environmental trauma created as a result of product design, manufacturing, and disposal. For sex toys in particular, we are concerned about product disposal and design — especially sex toy modularity and sex toy recycling. We explore sex toy sustainability in our our whitepaper, “Recycle My Vibrator?”

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We’ve spent a lot of time singing the praises of N26, Revolut, and Monese, highlighting the mechanisms driving their rapid ascent. Now let’s take a look at some factors that might slow or even stop these companies’ growth. To do this, we will answer the questions:

  1. What obstacles might these digital banks encounter?
  2. What can these digital banks teach new players?

Question 1: What obstacles might these digital banks encounter?

Amid the challenger banks rapid growth, cracks are starting to show, fissures that threaten to slow the challenger banks growth. There are three barriers we want to highlight:

  1. Technical difficulties
  2. Bad customer service
  3. Organizational behavior problems

1. Technical Difficulties

Digital banking systems are convenient, providing digital interfaces, apps, and personal analytics to improve customer experience, yet they can be buggy, putting users’ lives on hold. …

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So we’ve been talking about growth, looking at the Revolut growth drivers and running N26 through the VRIO competitive advantage framework. Now, we’re going for a change of pace as we look at Monese.

In the Revolut article, we looked at the 7 million user challenger bank’s growth engine and the factors that accelerated their growth worldwide. N26 was a different beast. In that article, we introduced Jay B. Barney’s VRIO framework, a tool that allows the user to answer the question, “does this resource offer a temporary or sustainable competitive advantage?”

In this article, we’ll look at the role niche targeting played in Monese’s growth, answering the…

In our previous articles, we looked at Revolut, N26, and Monese’s growth rates as well as the drivers for Revolut’s growth. Now, we’ll take a look at N26’s growth drivers and introduce the VRIO tool. The questions?

  • What factors are driving N26 growth?
  • What role does N26’s Innovation Pace play in its growth?

Let’s jump right in.

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Question 1: What factors are driving N26 growth?

To answer this question, we’ll be using the VRIO structure which Dr. Jay B. Barney discusses in his paper Looking Inside for Competitive Advantage. Why? …

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In our previous article we looked at Revolut, N26, and Monese’s user growth rate. Now we want to go a level deeper, starting with Revolut. The questions?

  • What factors are driving Revolut’s growth and how can you use these strategies too?
  • How does innovation speed factor in?
  • What role does UK law play in Revolut’s growth?

Let’s jump right in.

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A look at three of the challenger banks shaking up the industry

We’ve all been hearing how challenger banks are growing at breakneck speed, leaving legacy banks in their wake. But how fast are they really growing? To get an idea, we looked at several “Top Challenger Bank” lists and chose three big players: Revolut, Monese, and N26. The goal? To answer the following questions:

  • How do leading challenger banks compare to one another in terms of user growth?
  • Where are the user growth inflection points i.e. where did the banks go from zero to hero?

First, let’s introduce the players.


This German bank, founded in 2013, rolled out its first publicly available banking product in 2015. Starting as a digital interface for Wirecard, N26 is now a full-fledged digital bank offering insurance, credit, and business options in addition to their current accounts. …

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Photo Credit: Porsche Brosseau

On May 19th, SparkFest, Asia’s first Sexual Wellness Festival attracted a full-house in Singapore’s Hive Lavender. Founders Erin Chen and Sinnead Ali aimed to “spark” new conversations about sexuality, and normalize sexual wellness as part of our general well-being. Complete with Sex Tech Hackathon, lingerie retailers, and art exhibits, the Fest was a true success.

For us at Modality, the most thought-provoking event was a panel discussion on the Evolution of the Modern Man. During this 45-minute discussion, TV Host and moderator Anita Kapoor challenged panelists Leow Yangfa, executive director of Oogachaga, Farhan Shah, editor of AUGUSTMAN, and Mattias Hulting, founder of Ramblin’s Brands, to define what being a man means in today’s climate of toxic masculinity and the Involuntary Celibate. …


Lex Gillon

Lex is CEO and Founder of Modality Group, a sex product market research and business intelligence firm.

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