CNBC
It’s the end of Goldman Sachs as we know it
Jon Marino
See also
Fintech can't disrupt Wall Street: Report
The big banks are looking to get ahead of disruptive technology in finance, and they have he financial means to do it, as well as market share.
This may result in greater consolidation rather than more decentralization through multiplying digital nodes.
See also
Fintech can't disrupt Wall Street: Report
The big banks are looking to get ahead of disruptive technology in finance, and they have he financial means to do it, as well as market share.
This may result in greater consolidation rather than more decentralization through multiplying digital nodes.
4 comments:
Money always finds its way into shadow banking. And every time, the innovators have a new, better model to evaluate risk. I was talking to a SoFi sales person yesterday on the phone, and she was upset that I wouldn't borrow from them. When I compared their company to Lending Club and Prosper, I elicited an, "Oh My God, We are so not like them."
My spiel about shadow banking, criminogenic business models, regulatory subversion, instability was followed by a silence on the line and then a frustrated salesperson that said, "I guess that means I should remove you."
So yes, they do have a website, is it cloud, "digital node", I can't keep up with the fashion in disrupti-speak but they also have annoying old fashioned sales people just like Countrywide or New Century which suggests they already are under pressure to meet sales volumes of loans to meet demand of big money pouring in and early investors eager to cash out before it blows up. But it's different this time. Big Data Models Are Never Wrong. And I'm sure no regulated bank money is finding its way into this. Except we already know that it is.
" but they also have annoying old fashioned sales people just like Countrywide or New Century which suggests they already are under pressure to meet sales volumes of loans "
yes its the same old shit....
https://www.youtube.com/watch?v=Mqx6weVBKqA
We're winning against the disruptivators! Houston and Austin refused to allow Uber and Lyft to ignore driver safety regulations. So Uber and Lyft tried to get the law changed first by lobbying, then by going to voters. But voters wouldn't bend. So Uber and Lyft left. And two months later, a non-profit community based company that offers created apps that provide the same ride sharing service I'm sure the software isn't as good or comprehensive yet, but I think it will push back against the elitist libertarian attitude of steam rolling over regulation. Houston is facing the same battle, but after the success in Austin, I guarantee you the mayor isn't going to roll over for Uber and Lyft. Arguably the non-profit service will be better in the long run because there aren't all the financial blood suckers attached, and disruptivators that feel entitled to billion dollar windfalls for their simple little software.
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