3 ms·

This year has already seen plenty of layoffs and far more will come. Some companies even rescinded job offerings. The economic situation isn't suited for hiring

This year has already seen plenty of layoffs and far more will come. Some companies even rescinded job offerings. The economic situation isn't suited for hiring, especially not so many people. But, even worse, it's a bank.

ryathal 4y ago
Banking is ripe for a tech disruption, there's honestly a lot of things that are higher tech in banks than outsiders realize. There's a very good chance in 5-10 years a tech forward bank becomes the dominant player by a lot. An already large bank could pull this off, but I'd say that's less likely since they have to completely redefine their internal culture. The economy also isn't a monolith, different sectors grow and shrink differently. The interest rates were so low that VC was way more attractive, but as rates tick up more traditional banking products will likely become more attractive. Banks took a beating in 2008, because it was bad bank policy that crashed the market, that isn't the case this time.