4 ms·

the stock market is digital, they are a software company.

vthallam 9y ago
They consider themselves a banking company. It's about the culture, so it is indeed refreshing to see non-traditional tech companies open sourcing things.
lotyrin 9y ago
Having worked at a branch off a university devoted to its online school and content marketing where the inputs and outputs of production are entirely digital, I can say they sure as hell aren't a software company; nobody above on-the-ground grunts think much about even the big pictures of domain modeling / workflows, data ingestion / transformation, computing / efficiency / performance, software development lifecycle / product portfolio management / QA, growth hacking / optimization / testing etc. because they simply aren't interested in the slightest. I'm sure plenty of organizations with at least one foot in pre-internet industries are in the same boat, and it's exciting to see counterexamples.
- jnordwick 9y ago
  I think it is more correct to say that a large subunit of JPM works as a software company -- for its internal use. All modern financial companies are heavily tech oriented, even those you wouldn't normally think of that way. The best tech firms I've ever been involved with financial firms from front desk trading on back. One of the best tech teams I've ever met with has been one of Bloomberg's teams dealing with their internal core services and bond platform (I was totally floored at how amazing these guys were). These companies are too large to say they are entirely software, but there are definitely Directors and CTOs that live and breath all those things you mention.
  - lotyrin 9y ago
    Sure yes, in modern business environments, everyone's business interacts at least in some way with computing, digital products like media and software, and the internet. Even if you had a remote industrial site cutoff from the wider internet, there would be some automation to be done and some code to do it. Every organization should have a CTO, if nothing else than to make procurement and outsourcing decisions. Organizations shouldn't outsource that which differentiates them, and there's lots of room for differentiation in the quality and degree of automation, thus internal software teams. Etc. All I'm getting at is that those present set of truths, that that reality hasn't spread everywhere yet, and it's still worth celebrating when it has and when it goes well. There are plenty of people given plenty of power in leadership that won't bring themselves to understand technology and have yet to retire.
    - btown 9y ago
      You would be pleasantly surprised, then, that this reality has already permeated the modern financial industry. For instance, see http://www.businessinsider.com/goldman-sachs-wants-to-become-the-google-of-wall-street-2017-4 http://www.businessinsider.com/goldman-sachs-wants-to-become... . While there are still “relationship bankers” in expensive suits, most acknowledge that software is key to giving them an edge over the competition, and that building a culture around software only helps them.
mi100hael 9y ago
J.P.Morgan is not "the stock market" and financial companies are not software companies. They are not selling software. They are selling financial services.
- robmcm 9y ago
  SAA(F)S?

They consider themselves a banking company. It's about the culture, so it is indeed refreshing to see non-traditional tech companies open sourcing things.

lotyrin 9y ago

Having worked at a branch off a university devoted to its online school and content marketing where the inputs and outputs of production are entirely digital, I can say they sure as hell aren't a software company; nobody above on-the-ground grunts think much about even the big pictures of domain modeling / workflows, data ingestion / transformation, computing / efficiency / performance, software development lifecycle / product portfolio management / QA, growth hacking / optimization / testing etc. because they simply aren't interested in the slightest. I'm sure plenty of organizations with at least one foot in pre-internet industries are in the same boat, and it's exciting to see counterexamples.

jnordwick 9y ago
I think it is more correct to say that a large subunit of JPM works as a software company -- for its internal use. All modern financial companies are heavily tech oriented, even those you wouldn't normally think of that way. The best tech firms I've ever been involved with financial firms from front desk trading on back. One of the best tech teams I've ever met with has been one of Bloomberg's teams dealing with their internal core services and bond platform (I was totally floored at how amazing these guys were). These companies are too large to say they are entirely software, but there are definitely Directors and CTOs that live and breath all those things you mention.
- lotyrin 9y ago
  Sure yes, in modern business environments, everyone's business interacts at least in some way with computing, digital products like media and software, and the internet. Even if you had a remote industrial site cutoff from the wider internet, there would be some automation to be done and some code to do it. Every organization should have a CTO, if nothing else than to make procurement and outsourcing decisions. Organizations shouldn't outsource that which differentiates them, and there's lots of room for differentiation in the quality and degree of automation, thus internal software teams. Etc. All I'm getting at is that those present set of truths, that that reality hasn't spread everywhere yet, and it's still worth celebrating when it has and when it goes well. There are plenty of people given plenty of power in leadership that won't bring themselves to understand technology and have yet to retire.
  - btown 9y ago
    You would be pleasantly surprised, then, that this reality has already permeated the modern financial industry. For instance, see http://www.businessinsider.com/goldman-sachs-wants-to-become-the-google-of-wall-street-2017-4 http://www.businessinsider.com/goldman-sachs-wants-to-become... . While there are still “relationship bankers” in expensive suits, most acknowledge that software is key to giving them an edge over the competition, and that building a culture around software only helps them.

mi100hael 9y ago

J.P.Morgan is not "the stock market" and financial companies are not software companies. They are not selling software. They are selling financial services.

robmcm 9y ago
SAA(F)S?