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You make a good point. NYSE fees do not represent the full cost of intermediation for cash equities. But my core point remains: the cost of intermediation in t
by rmrfstar 6y ago
You make a good point. NYSE fees do not represent the full cost of intermediation for cash equities. But my core point remains: the cost of intermediation in the financial sector is 1-2 orders of magnitude lower than 30%.
I don't think you are making your complexity argument in good faith. It is ridiculous to suggest that Uber's order matching and payment infrastructure is more complex than the full chain of financial intermediation, from order matching through clearing, settlement, and custody.
- dongvsascript 6y agoi think you completely ignoring the main point i detailed out, that order matching is a tiny part of what uber does, is what is not in good faith. it's a company with 4 million workers in most countries and cities worldwide. let's say you want to start a taxi company in tokyo. find and hire about a thousand drivers. your costs are just writing an app, right? how about saudi arabia? now take those costs and multiply by 4000. you want to compare to nyse? cool. ask them how much money it will take to trade every stock worldwide following local rules, for any country's citizen. hire 4 million workers. make sure i can use the same app for every transaction and just put it on my amex.