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Another "poor Europe, too scared, too insular, too antiquated" article. I wish my trends site still worked since this seems to be a bit of a theme recently. So
by Guid_NewGuid 5y ago
Another "poor Europe, too scared, too insular, too antiquated" article. I wish my trends site still worked since this seems to be a bit of a theme recently.
Something is out of whack about the priorities here. Yes America has FANGS and is at the cutting edge of slinging ads and casino style VC culture. But have you seen the state of US banking and payments infrastructure? Plaid is pretty much cutting edge for god's sake. The US is so far behind in banking and actual useful technology it's quite funny.
Things like GDPR and OpenBanking point to an alternative way of doing technology, that to my value set is better than the ability to inflate ridiculous Uber/WeWork/etc. valuations with no correlation to real world value.
- zepto 5y ago> The US is so far behind in banking and actual useful technology it's quite funny. I see this said, and it was true two decades ago, but I’m not aware of any way it’s true now. What banking can you do in Europe that you can’t do in the US?
- Bayart 5y agoInstant bank transfers over SEPA for one, without third party payment processor involved.
- zepto 5y agoRight, that’s the only one I’ve ever heard, but what does ‘without third party payment processor involved’ bring in practice? I have a European bank account and a US one, and I don’t experience any meaningful difference, indeed the third party processors in the US are generally far more feature rich than the bare bones European bank options. Hardly: “The US is so far behind in banking and actual useful technology it's quite funny.” More: An irrelevant implementation detail that doesn’t impact end users.
- jbverschoor 5y agoNot supported everywhere Direct debit not supported everywhere. Important for saas