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The people who operate the site are who I'm talking about. And the challenges for the business they're entering in to are scale and compliance. It's pretty wild
by catapart 4y ago
The people who operate the site are who I'm talking about.
And the challenges for the business they're entering in to are scale and compliance. It's pretty wild, to me, to see how many people have to learn this lesson OVER and OVER and OVER again, but it turns out - you can't do ANYTHING alone. No person is an island. If you think you can go it alone, you are simply forgetting the things that got you where you are. And all of that is doubly true in finance where the entire industry is predicated on interoperability. They are trying to do away with all of that and say "I alone can save you". They want you to build an entirely distinct economy, with them, because they can't play well with the existing economy. That's the whole game: "I'll build my own economy. With blackjack! And hookers!"
They're saying they want everyone to be able to freely trade, but they're building a separate economy, cutting out the existing financial institutions that don't sign on to their libertarian ideas of a healthy economy. It's a roundabout way of exclusion, but exclusion is the only play they've ever known.
And you wonder what the challenges are, of building and maintaining your own sub-economy? I mean, it seems pretty obvious, but if you're really curious, just pay attention to this group. You'll see the challenges play out in real time and, most likely, overcome them.