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The american banking industry, maybe. One of the ills of VC-mania is the ongoing assumption that a) problems that exist in the US exist everywhere and b) that
by pgeorgi 8y ago
The american banking industry, maybe.
One of the ills of VC-mania is the ongoing assumption that a) problems that exist in the US exist everywhere and b) that there are no other problems.
(see also: Uber busting the "taxi monopoly")
- maxxxxx 8y agoAnd that nobody outside the US ever has solved problems in a way that may apply to the US.
- repolfx 8y agoUber is popular everywhere, including throughout Europe. And as for banking, well, it's somewhat worse in the USA than elsewhere but it's not like Europe is overflowing with awesome hi-tech banks. Yes there are a few "startup banks" in the UK and one in Germany that I know of, and that's about it for the entire continent. Moreover the vast majority of people don't use them and bank with the existing set of firms, many of which have legacy and decaying IT estates. Look at what happened with TSB recently. Total meltdown. Major IT outages in the UK banking sector have become commonplace; you don't hear about that happening in the US.
- kennydude 8y agoGood job Monzo is looking to expand there then :D