In many ways, Venmo is the MySpace of P2P payment fintech. In a time when the cowed American consumer had all but surrendered to an existence of wiring money to someone requiring a trip to the bank (or Western Union) and/or multiple days of thumb twiddling while the banks did God-knows-what behind the scenes, a little company came out of the blue with a miraculous solution. Venmo’s pitch to the public wasn’t just “hey, you can just do that instantly from your smartphone now.” They sweetened the deal with a social element, adding “you can even post your transactions with friends like you’re on Facebook, that social media site we all love and will use forever.” Paraphrasing aside, the app drop was nothing short of a revelation. Soon, people everywhere were publicly sending money around with reckless abandon—splitting $10 dining bills, repaying dire emergency loans, and announcing their illegal drug purchases with coy emojis in the transaction memo lines for all the world to see.…