4 ms·

It’s not so much “Brexit didn’t cause this” as it is hard to believe that’s the main reason their business failed in the UK (make no mistake, that is what they

It’s not so much “Brexit didn’t cause this” as it is hard to believe that’s the main reason their business failed in the UK (make no mistake, that is what they are admitting, whatever the reason). The comments are quite reasonably identifying that their statement is conveniently burying the real news with an excuse that will surely be easy to swallow in their home country. Brexit is bad but that isn’t the news here. I’m sure we’ll see plenty more of this.

scarejunba 7y ago
It certainly doesn't look like they're burying anything to me. The official media statement squarely accepts the inability to serve as an N26 problem: > While we fully respect the decision that has been taken, it means that N26 will in due course be unable to serve our customers in the UK and will have to leave the market And having some part of the business fail is not some sort of moral failing you have to hide or which they're even attempting to. The rest of their statement makes it clear that considering their growth and number of users it doesn't make sense for them to get a UK licence, i.e. this isn't feasible for them. I think people are interpreting "We can't do this because Brexit has made this infeasible for us" as "We'd have succeeded if it weren't for Brexit" when it seems quite obvious to me that the trivial interpretation is "Brexit moved us from feasible to infeasible" which just means they were envisioning less in the future than the Brexit-costs would impose and makes no implication really about the width of that Brexit cost boundary. After all, they're still in the US and you need a local licence.
imtringued 7y ago
You're making the assumption that they care about the UK market. If they don't, then leaving the UK market is not a failure.

4 ms·

It’s not so much “Brexit didn’t cause this” as it is hard to believe that’s the main reason their business failed in the UK (make no mistake, that is what they

by barnabee 7y ago

scarejunba 7y ago
It certainly doesn't look like they're burying anything to me. The official media statement squarely accepts the inability to serve as an N26 problem: > While we fully respect the decision that has been taken, it means that N26 will in due course be unable to serve our customers in the UK and will have to leave the market And having some part of the business fail is not some sort of moral failing you have to hide or which they're even attempting to. The rest of their statement makes it clear that considering their growth and number of users it doesn't make sense for them to get a UK licence, i.e. this isn't feasible for them. I think people are interpreting "We can't do this because Brexit has made this infeasible for us" as "We'd have succeeded if it weren't for Brexit" when it seems quite obvious to me that the trivial interpretation is "Brexit moved us from feasible to infeasible" which just means they were envisioning less in the future than the Brexit-costs would impose and makes no implication really about the width of that Brexit cost boundary. After all, they're still in the US and you need a local licence.
imtringued 7y ago
You're making the assumption that they care about the UK market. If they don't, then leaving the UK market is not a failure.