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Everyone is a bank today for the same reason everyone was a social network in the 00's. A few startups started encroaching into financial services territory, t

• Apocryphon 7y ago
  As the engineer and writer Alex Payne put it, these startups represent “the field offices of a large distributed workforce assembled by venture capitalists and their associate institutions,” doing low-overhead, low-risk R&D for five corporate giants. In such a system, the real disillusionment isn’t the discovery that you’re unlikely to become a billionaire; it’s the realization that your feeling of autonomy is a fantasy, and that the vast majority of you have been set up to fail by design. - No Exit: Struggling to Survive a Modern Gold Rush (2014)
  • thundergolfer 7y ago
    That’s an interesting perspective. Related to it, I often feel like entrepreneurs in tech don’t realise how much their innovation is restricted by capital markets. OP’s startup is actually a great example of this. Medical debt is indeed a troubling problem in the USA, but OP’s solution is yet another financial product, something that can get funded. VCs can’t fund single-payer healthcare policy entrepreneurship even if that’s actually what would solve the medical debt problem.
    • kaushikktiwari 7y ago
      That's a very good point! I agree!