5 ms·
Is there a history of people who went from entrepreneurship -> industry -> became rich -> opened a Bank? In older times these would be loan sharks but have othe
by buboard 7y ago
Is there a history of people who went from entrepreneurship -> industry -> became rich -> opened a Bank? In older times these would be loan sharks but have other industrialists done that?
And is this the best use of the mountains of cash that these companies (google-apple-facebook) have hoarded?
- AnimalMuppet 7y agoJ. P. Morgan, maybe (though I'm not sure you would say that he started at the entrepreneur level).
- awad 7y agoFinancial services as a whole are inherently a large part of the economy so it's reasonable to see why they're going after it. Warren Buffet attributes a large part of his success to his insurance interests and the capital (to invest) made available to Berkshire Hathaway via the float. There's also the Japanese model of group companies centered around a bank: https://en.wikipedia.org/wiki/Keiretsu https://en.wikipedia.org/wiki/Keiretsu