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It's easy to talk shit on the Internet... Obviously, I support your business idea, and I look forward to it shaking banks up a bit. If the product is strong en

• eavc 15y ago
  My thinking is that an innovative, abstract replacement for banking will either float or sink on the strength of its offering and subsequent word-of-mouth. My mother wouldn't ever sign up for this on her own regardless of what it's called, but in time, I might be able to get her to use it if it's good. A descriptive brand name is almost irrelevant for a company like this. Now, the other angle here is that banking might simply be their entree into the abstraction business at large. So maybe today I bank through Simple, but in a few years I buy insurance through them. And maybe my cell phone plan. There's a lot of confusion and noise interfering with the efficiency of consumer markets as mediums of value exchange. Abstraction, quantification, and objective selection could be a neat way to cut down on some of the inefficiency, misinformation, and confusion.