6 ms·

Anti-Woke Bank GloriFi to Shut Down

42 points by jmsflknr 4y ago

actually_a_dog 4y ago
https://archive.ph/esWQT https://archive.ph/esWQT
boeingUH60 4y ago
Am I the only one that detests businesses with an ideological bent? I mean…you’re starting out eliminating a subset of potential customers. I recently read on TechCrunch about an LGBT-themed digital bank that raised a $15 million round [1]…why not just be a bank serving all types of customers, or are there specific banking features that cater to LGBT individuals? 1- https://techcrunch.com/2022/11/18/daylight-queer-neobank-raises-15m-capital-subscription-service/ https://techcrunch.com/2022/11/18/daylight-queer-neobank-rai...
- Bubble_Pop_22 4y ago
  They are smart instead because they analyze VCs peculiar political preferences/bias and build a company which is guranteed to raise money. It’s kinda like applying for govt grants or bidding for govt contracts. You read the document and then create a tailor made company to fit all the requirements
  - globalise83 4y ago
    Good one. Probably a good crime comedy to be made out of that concept, "Acme Inc.",where they just set up a generic shell and write the business plan and pitch to investors based on some espionage and other dirty tricks.
    - willcipriano 4y ago
      Get Mel Brooks on the phone and make it a musical, "The Founders".
- otikik 4y ago
  They all have biases. If they aren’t explicit about them they’ll act on them without warning. You might wake up one day and find that your business is not welcome any more. This happens regularly in the porn industry, banks simply refuse to work with them. If I am woke, it’s good to know that a bank is anti-woke. Avoids surprises.
- deleted 4y ago
  [deleted]
  - deleted 4y ago
    [deleted]
- foldr 4y ago
  > or are there specific banking features that cater to LGBT individuals? This question is answered at length in the article you link to. You could also just look at the bank's website: https://www.joindaylight.com https://www.joindaylight.com I don't know whether or not there's a large demand for these features among LGBTQ folks specifically, but it's not an inherently ridiculous idea.
- noahtallen 4y ago
  So like, the problem is that normal banks will invest your money in causes you don’t want to support (like the fossil fuel industry). [0] So if you want your money to promote causes you care about, you need to find alternatives like this. Ideally, banks would let you choose where your money goes. But I don’t think that’s really a thing. 0: https://youtu.be/NJ7W6HFHPYs https://youtu.be/NJ7W6HFHPYs
- eesmith 4y ago
  Did the companies which refused to do business with apartheid South Africa have an ideological bent? Would you have detested them? What about the companies which continued to do business with apartheid South Africa? Did they have an ideological bent too? > why not just be a bank serving all types of customers If there's an under-served market then a business which focuses on that market's specific needs can be more profitable than one with multiple focuses. In the link you can see some examples: "debit cards with customers’ chosen names, which aren’t always the same as what’s on their ID", "guided goals for gender-affirming procedures like top surgery and facial feminization", and family planning which doesn't assume heteronormativity. As a different example of a bank started for an under-served population, USAA is focused on people who serve or served in the military, and their families. Quoting https://en.wikipedia.org/wiki/USAA https://en.wikipedia.org/wiki/USAA : > USAA was founded in 1922 in San Antonio by a group of 25 U.S. Army officers as a mechanism for mutual self-insurance when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group.
- rrix2 4y ago
  > are there specific banking features that cater to LGBT individuals? not deadnaming trans customers on the cards they have to give to people who know them by their new names is really good on its own and many banks simply will not allow customers to have different "display" and legal names.
  - bankaway0124 4y ago
    https://www.citigroup.com/citi/news/2020/201019a.htm https://www.citigroup.com/citi/news/2020/201019a.htm
- bdcravens 4y ago
  My first "real" job was at a computer store in a small college town (doing ISP tech support). A competitor sprang up that called themself "Christian Computer Store". Needless to say, they didn't last long.
  - isoprophlex 4y ago
    No daemons allowed!
- ebiester 4y ago
  1. For trans people, it's absolutely a thing. If you need to be verified, your photo and name will often be different than government documents. Having a bank that understand this from the start is a key differentiator. Now, less than 1% of the world publicly identifies as trans or non-binary, but the numbers are increasing in younger generations and may, in an of itself, be a significant market differentiator. 2. LGBT people have a low level fear of having someone in customer service discriminate due to something with our gender presentation or other issue. While it's a smaller issue today than in the past, we all have a story about a friend who had an issue. With all else being equal; that is, if the bank itself is reliable, this is a key feature. Now, I think there is a banking play for a single corporation to have multiple white labeled experiences, but the only successful one I know about not tied to an existing bank is Nubank.
- jrm4 4y ago
  You aren't, but I actually like the idea generally. Capitalism is all about choice, and I'm absolutely fine using that as one of the reasons. I mean, I think the inverse is weird. I don't see what's wildly different about "I'm just not gonna go there because I don't like how the chicken tastes" which no one ever has a problem with, but suddenly people get up in arms over "I'm not gonna go there because I don't like the CEO's stance on whatever." Yay choice. (oooh update. And these may be obvious descendants of things like "green book" businesses, aka those that were safe for black folks not too long ago)
- rchaud 4y ago
  From what I can gather, the endgame for these businesses is not to stand on their own two feet, but to simply acquire enough customers such that an established player snaps them up. Most businesses don't want to do the hard work of chasing down licenses and permits. It seems to be all about a quick acquisition.
- mcphage 4y ago
  > Am I the only one that detests businesses with an ideological bent? You're not the only one, but there are definitely a lot of people who like finding businesses with a similar ideological bent. Seeing a cross or an icthhys in the corner of business signs is fairly common, for instance—and has been for a long time.
- megablast 4y ago
  > why not just be a bank serving all types of customers Yes, when will we finally get a bank like that. Is the 20,000 existing banks that do that not enough for you?
- jfengel 4y ago
  I like that Penzey's Spices has a motto "season liberally". Their Facebook account includes anti-Republican screeds which appeal to me. I also really like their products. I can say that I would not purchase their products if they had a right-wing bias equivalent to their left-wing bias. I don't patronize a number of businesses where the owners have made their right-wing bias prominent. If you consider both equally distasteful, that makes sense. I assume that the owners of all of these businesses have made at least rough calculations how much they gain in customer loyalty, how much they lose in customers put off by it, and how that number compares to being what they consider true to themselves. So I'm sure you're not the only one who detests that. But I imagine they've taken your views into account, as well as mine.
thelibrarian 4y ago
So, should the quip be “go anti-woke, go broke” then?
- malfist 4y ago
  Or maybe just don't run your company around unrelated political goals, unless you're a PAC.
mikestew 4y ago
The app was aimed at people who saw Wall Street as too liberal and wanted a bank that shared their values. I'll ignore the likely wildly-inaccurate base assumptions, and cut to the shared-values part: "DO NOT fuck with my money". There ya go, you share that value, perhaps we can do business. Hopefully you have a good app, and reasonable loan rates, and hey, maybe I'll transfer my mortgage over or look to you for my next car loan. But you will absolutely not get a penny of my money if your catch line is "we're not 'woke' like those other fuckers". I'm seriously having trouble coming up with why I'd care about that. Maybe the schtick is "the bank's profits will go to liberal causes!", I dunno. Seems like a weird thing to hang your hat on. I'd say that the market apparently agrees, but again if that's the schtick, then I'm willing to believe the company had no business handling the money of others, and would have gone under regardless.
- djbusby 4y ago
  What's the ROI on woke vs non-woke (or is it anti-woke). Maybe Woke is trying a "virtuous" modus, non-woke is agnostic and anti-woke is the opposite of the Woke one? Is there any studies around that?
  - dylan604 4y ago
    >woke vs non-woke (or is it anti-woke). asleep?
- advisedwang 4y ago
  Isn't "do not fuck with my money" basically the default in the consumer banking space? I've not seen a flicker of SJW stuff form any bank or credit union (until maybe you choose yourself to invest in ESG). "good app, and reasonable loan rates" is kind of what banks already compete on
  - wmf 4y ago
    There were stories about consumer banks dropping people simply for using crypto so risk modeling is definitely happening and it does vary from bank to bank. I haven't heard enough such stories to justify an "anti-woke" bank though.
Mikeb85 4y ago
Wall Street liberal? They're like the least political entity, caring only about money...
- mikestew 4y ago
  It does seem like they've confused Hollywood with Wall Street. I mean, had the founders ever met a WS trader, for example? Okay, maybe not, plenty of people haven't. But there are magazines targeted to traders (I used to subscribe to one), someone could go read one of those. Not a lot of herbal bath bombs being advertised (or whatever the conservative fantasy would be of a "liberal" advertisement). Nope, fast cars, expensive liquor, and other items of the hedonistic lifestyle. I don't know which bucket "hedonism" falls into, but I doubt it's "woke". Maybe I'm barking up the wrong tree on what the founders were thinking, but I'm still stumped on how they consider Wall Street to be liberal, and why their offered alternative had better features because "not woke".
  - chomp 4y ago
    Nah, read about Glorifi and their position in relation to ESG. The powers that be got very upset when they perceived funds' ESG rules to be pressuring companies to make what they saw as "woke" changes to the structure and governance of companies. Just another group of culture warriors biting the dust.
    - mikestew 4y ago
      Thanks, your comment gave me the TLA to go look for. Doesn’t make it look any better for Glorifi, but I now have a little better understanding of what they mean.
  - brazzy 4y ago
    I'm fairly sure the entire point was to market to the segement of the population that pins their identity on hating "wokeness", "liberals" and "the east coast elites", and doesn't do much intellectual examinations of those sentiments.
- 4y ago
outside1234 4y ago
"who saw Wall Street as too liberal" I think I see the problem
dahdum 4y ago
> Some employees said that founder Toby Neugebauer had a volatile temper and drank on the job, and that the company’s unusual workspace—Mr. Neugebauer’s home—added distractions. A pseudo-bank run out of a drunk's house whose unique value proposition was being exclusionary, backed by the 172nd largest bank in Texas (TransPecos). Anybody who invested in this nonsense deserves the outcome.
- torben-friis 4y ago
  It's out of Better Call Saul,yeah.
  - deleted 4y ago
    [deleted]
- xnx 4y ago
  Can't believe they worked with a bank with "trans" in the name. /s
- gorbachev 4y ago
  A rather large percentage of businesses catering to the maga / anti-woke / right-wing zealot customer base are pretty transparent attempts to grift their customers. Questionable products run by sketchy people that straight-up lie about their products and services. I'm not familiar with this particular business, so maybe it wasn't blatantly grifting. Seems like it was run by someone who shouldn't be running a bank, pseudo or real, though.
millzlane 4y ago
Good riddance. As if we need anymore polarization in our country.
__derek__ 4y ago
I got a free WSJ subscription earlier this year, and it's been interesting to see how much they go out of their way to promote odd businesses like this one. There's also an anti-ESG investment company started by some Thiel acolyte, which has gotten several front-page articles and op-eds published. Like this "bank", they don't appear have any traction, but the WSJ is committed to helping them advertise.
- jrm4 4y ago
  Isn't this not editorial but simply that outfits like this are now pay-to-play? I feel like I read somewhere that a couple thousand will get you an "article" in Forbes about your new thing, so you can say "we were in Forbes."
  - __derek__ 4y ago
    AFAIK, that's not the case for the WSJ. Other outlets like Forbes do have self-publishing arms, though.
  - MrLeap 4y ago
    That's downright affordable, I wonder what the limits are on what they'll cover? Somebody with money and a sense of humor could potentially manifest comedy gold. I'm making a text editor where every letter you type gets slapped into a 3d mechanical typewriter by giant tentacle arms. I probably don't have the budget but reading an article in forbes about it would be very funny, maybe even the capstone of my entire career.
splitrocket 4y ago
Capitalism has a well known liberal bias.
- readthenotes1 4y ago
  If you mean liberalism in the original sense, it certainly does!
- notch656a 4y ago
  Capitalism is embraced by classical liberalism. Modern day "liberals" / progressivists have especially embraced American version of capitalism by using regulatory capture, basically coming up with 1 million and 1 ways to "make sure the consumer is protected" and then proceeding to capture the hell out of the regulatory framework to make sure anyone who disagrees with the regulation is called out as someone who wants people to get hurt / someone who wants to let industry oppress us. Meanwhile they rake in the profits while locking out competitors.
  - pksebben 4y ago
    I would love to hear more from you. This take doesn't gel with anything I know, but it seems as though you and I have at least similar takes on how flawed a concept capitalism is - what I'm curious about is what you believe the connection between liberalism and capitalism is, and whether you also believe that conservatism is the antidote. I'll pregame such a conversation by saying that I'm disillusioned with both sides of the political spectra. I could most generically be described as a flavor of socialist, but that doesn't really capture what I believe effectively. I wish we had a direct democracy, and I'm off the opinion that unchecked capital markets have effectively coopted our political process.
jimjimjim 4y ago
Good god, was there actually a market for this? Did someone think they were too caring and inclusive? Most banks are usually found in the LawfulEvil square in D&D.
rchaud 4y ago
From the fine print of an even finer press release [0] from September 2022 announcing a 'financial lifestyle app': > GloriFi™ is a financial technology company, not a bank. Banking services provided by TransPecos Banks, SSB, Member FDIC. [0] https://www.prnewswire.com/news-releases/pro-america-mission-driven-tech-company-glorifi-aims-to-change-the-way-millions-bank-borrow-insure-and-buy-301629050.html https://www.prnewswire.com/news-releases/pro-america-mission...
NoboruWataya 4y ago
Obligatory Matt Levine take: https://www.bloomberg.com/opinion/articles/2022-10-11/anti-esg-can-be-good-business https://www.bloomberg.com/opinion/articles/2022-10-11/anti-e...

42 points by jmsflknr 4y ago

https://archive.ph/esWQT https://archive.ph/esWQT

Am I the only one that detests businesses with an ideological bent? I mean…you’re starting out eliminating a subset of potential customers. I recently read on TechCrunch about an LGBT-themed digital bank that raised a $15 million round [1]…why not just be a bank serving all types of customers, or are there specific banking features that cater to LGBT individuals? 1- https://techcrunch.com/2022/11/18/daylight-queer-neobank-raises-15m-capital-subscription-service/ https://techcrunch.com/2022/11/18/daylight-queer-neobank-rai...

Bubble_Pop_22 4y ago
They are smart instead because they analyze VCs peculiar political preferences/bias and build a company which is guranteed to raise money. It’s kinda like applying for govt grants or bidding for govt contracts. You read the document and then create a tailor made company to fit all the requirements
- globalise83 4y ago
  Good one. Probably a good crime comedy to be made out of that concept, "Acme Inc.",where they just set up a generic shell and write the business plan and pitch to investors based on some espionage and other dirty tricks.
  - willcipriano 4y ago
    Get Mel Brooks on the phone and make it a musical, "The Founders".
otikik 4y ago
They all have biases. If they aren’t explicit about them they’ll act on them without warning. You might wake up one day and find that your business is not welcome any more. This happens regularly in the porn industry, banks simply refuse to work with them. If I am woke, it’s good to know that a bank is anti-woke. Avoids surprises.
deleted 4y ago
[deleted]
- deleted 4y ago
  [deleted]
foldr 4y ago
> or are there specific banking features that cater to LGBT individuals? This question is answered at length in the article you link to. You could also just look at the bank's website: https://www.joindaylight.com https://www.joindaylight.com I don't know whether or not there's a large demand for these features among LGBTQ folks specifically, but it's not an inherently ridiculous idea.
noahtallen 4y ago
So like, the problem is that normal banks will invest your money in causes you don’t want to support (like the fossil fuel industry). [0] So if you want your money to promote causes you care about, you need to find alternatives like this. Ideally, banks would let you choose where your money goes. But I don’t think that’s really a thing. 0: https://youtu.be/NJ7W6HFHPYs https://youtu.be/NJ7W6HFHPYs
eesmith 4y ago
Did the companies which refused to do business with apartheid South Africa have an ideological bent? Would you have detested them? What about the companies which continued to do business with apartheid South Africa? Did they have an ideological bent too? > why not just be a bank serving all types of customers If there's an under-served market then a business which focuses on that market's specific needs can be more profitable than one with multiple focuses. In the link you can see some examples: "debit cards with customers’ chosen names, which aren’t always the same as what’s on their ID", "guided goals for gender-affirming procedures like top surgery and facial feminization", and family planning which doesn't assume heteronormativity. As a different example of a bank started for an under-served population, USAA is focused on people who serve or served in the military, and their families. Quoting https://en.wikipedia.org/wiki/USAA https://en.wikipedia.org/wiki/USAA : > USAA was founded in 1922 in San Antonio by a group of 25 U.S. Army officers as a mechanism for mutual self-insurance when they were unable to secure auto insurance because of the perception that they, as military officers, were a high-risk group.
rrix2 4y ago
> are there specific banking features that cater to LGBT individuals? not deadnaming trans customers on the cards they have to give to people who know them by their new names is really good on its own and many banks simply will not allow customers to have different "display" and legal names.
- bankaway0124 4y ago
  https://www.citigroup.com/citi/news/2020/201019a.htm https://www.citigroup.com/citi/news/2020/201019a.htm
bdcravens 4y ago
My first "real" job was at a computer store in a small college town (doing ISP tech support). A competitor sprang up that called themself "Christian Computer Store". Needless to say, they didn't last long.
- isoprophlex 4y ago
  No daemons allowed!
ebiester 4y ago
1. For trans people, it's absolutely a thing. If you need to be verified, your photo and name will often be different than government documents. Having a bank that understand this from the start is a key differentiator. Now, less than 1% of the world publicly identifies as trans or non-binary, but the numbers are increasing in younger generations and may, in an of itself, be a significant market differentiator. 2. LGBT people have a low level fear of having someone in customer service discriminate due to something with our gender presentation or other issue. While it's a smaller issue today than in the past, we all have a story about a friend who had an issue. With all else being equal; that is, if the bank itself is reliable, this is a key feature. Now, I think there is a banking play for a single corporation to have multiple white labeled experiences, but the only successful one I know about not tied to an existing bank is Nubank.
jrm4 4y ago
You aren't, but I actually like the idea generally. Capitalism is all about choice, and I'm absolutely fine using that as one of the reasons. I mean, I think the inverse is weird. I don't see what's wildly different about "I'm just not gonna go there because I don't like how the chicken tastes" which no one ever has a problem with, but suddenly people get up in arms over "I'm not gonna go there because I don't like the CEO's stance on whatever." Yay choice. (oooh update. And these may be obvious descendants of things like "green book" businesses, aka those that were safe for black folks not too long ago)
rchaud 4y ago
From what I can gather, the endgame for these businesses is not to stand on their own two feet, but to simply acquire enough customers such that an established player snaps them up. Most businesses don't want to do the hard work of chasing down licenses and permits. It seems to be all about a quick acquisition.
mcphage 4y ago
> Am I the only one that detests businesses with an ideological bent? You're not the only one, but there are definitely a lot of people who like finding businesses with a similar ideological bent. Seeing a cross or an icthhys in the corner of business signs is fairly common, for instance—and has been for a long time.
megablast 4y ago
> why not just be a bank serving all types of customers Yes, when will we finally get a bank like that. Is the 20,000 existing banks that do that not enough for you?
jfengel 4y ago
I like that Penzey's Spices has a motto "season liberally". Their Facebook account includes anti-Republican screeds which appeal to me. I also really like their products. I can say that I would not purchase their products if they had a right-wing bias equivalent to their left-wing bias. I don't patronize a number of businesses where the owners have made their right-wing bias prominent. If you consider both equally distasteful, that makes sense. I assume that the owners of all of these businesses have made at least rough calculations how much they gain in customer loyalty, how much they lose in customers put off by it, and how that number compares to being what they consider true to themselves. So I'm sure you're not the only one who detests that. But I imagine they've taken your views into account, as well as mine.

thelibrarian 4y ago

So, should the quip be “go anti-woke, go broke” then?

malfist 4y ago
Or maybe just don't run your company around unrelated political goals, unless you're a PAC.

mikestew 4y ago

The app was aimed at people who saw Wall Street as too liberal and wanted a bank that shared their values. I'll ignore the likely wildly-inaccurate base assumptions, and cut to the shared-values part: "DO NOT fuck with my money". There ya go, you share that value, perhaps we can do business. Hopefully you have a good app, and reasonable loan rates, and hey, maybe I'll transfer my mortgage over or look to you for my next car loan. But you will absolutely not get a penny of my money if your catch line is "we're not 'woke' like those other fuckers". I'm seriously having trouble coming up with why I'd care about that. Maybe the schtick is "the bank's profits will go to liberal causes!", I dunno. Seems like a weird thing to hang your hat on. I'd say that the market apparently agrees, but again if that's the schtick, then I'm willing to believe the company had no business handling the money of others, and would have gone under regardless.

djbusby 4y ago
What's the ROI on woke vs non-woke (or is it anti-woke). Maybe Woke is trying a "virtuous" modus, non-woke is agnostic and anti-woke is the opposite of the Woke one? Is there any studies around that?
- dylan604 4y ago
  >woke vs non-woke (or is it anti-woke). asleep?
advisedwang 4y ago
Isn't "do not fuck with my money" basically the default in the consumer banking space? I've not seen a flicker of SJW stuff form any bank or credit union (until maybe you choose yourself to invest in ESG). "good app, and reasonable loan rates" is kind of what banks already compete on
- wmf 4y ago
  There were stories about consumer banks dropping people simply for using crypto so risk modeling is definitely happening and it does vary from bank to bank. I haven't heard enough such stories to justify an "anti-woke" bank though.

Mikeb85 4y ago

Wall Street liberal? They're like the least political entity, caring only about money...

mikestew 4y ago
It does seem like they've confused Hollywood with Wall Street. I mean, had the founders ever met a WS trader, for example? Okay, maybe not, plenty of people haven't. But there are magazines targeted to traders (I used to subscribe to one), someone could go read one of those. Not a lot of herbal bath bombs being advertised (or whatever the conservative fantasy would be of a "liberal" advertisement). Nope, fast cars, expensive liquor, and other items of the hedonistic lifestyle. I don't know which bucket "hedonism" falls into, but I doubt it's "woke". Maybe I'm barking up the wrong tree on what the founders were thinking, but I'm still stumped on how they consider Wall Street to be liberal, and why their offered alternative had better features because "not woke".
- chomp 4y ago
  Nah, read about Glorifi and their position in relation to ESG. The powers that be got very upset when they perceived funds' ESG rules to be pressuring companies to make what they saw as "woke" changes to the structure and governance of companies. Just another group of culture warriors biting the dust.
  - mikestew 4y ago
    Thanks, your comment gave me the TLA to go look for. Doesn’t make it look any better for Glorifi, but I now have a little better understanding of what they mean.
- brazzy 4y ago
  I'm fairly sure the entire point was to market to the segement of the population that pins their identity on hating "wokeness", "liberals" and "the east coast elites", and doesn't do much intellectual examinations of those sentiments.
4y ago

outside1234 4y ago

"who saw Wall Street as too liberal" I think I see the problem

dahdum 4y ago

> Some employees said that founder Toby Neugebauer had a volatile temper and drank on the job, and that the company’s unusual workspace—Mr. Neugebauer’s home—added distractions. A pseudo-bank run out of a drunk's house whose unique value proposition was being exclusionary, backed by the 172nd largest bank in Texas (TransPecos). Anybody who invested in this nonsense deserves the outcome.

torben-friis 4y ago
It's out of Better Call Saul,yeah.
- deleted 4y ago
  [deleted]
xnx 4y ago
Can't believe they worked with a bank with "trans" in the name. /s
gorbachev 4y ago
A rather large percentage of businesses catering to the maga / anti-woke / right-wing zealot customer base are pretty transparent attempts to grift their customers. Questionable products run by sketchy people that straight-up lie about their products and services. I'm not familiar with this particular business, so maybe it wasn't blatantly grifting. Seems like it was run by someone who shouldn't be running a bank, pseudo or real, though.

millzlane 4y ago

Good riddance. As if we need anymore polarization in our country.

__derek__ 4y ago

I got a free WSJ subscription earlier this year, and it's been interesting to see how much they go out of their way to promote odd businesses like this one. There's also an anti-ESG investment company started by some Thiel acolyte, which has gotten several front-page articles and op-eds published. Like this "bank", they don't appear have any traction, but the WSJ is committed to helping them advertise.

jrm4 4y ago
Isn't this not editorial but simply that outfits like this are now pay-to-play? I feel like I read somewhere that a couple thousand will get you an "article" in Forbes about your new thing, so you can say "we were in Forbes."
- __derek__ 4y ago
  AFAIK, that's not the case for the WSJ. Other outlets like Forbes do have self-publishing arms, though.
- MrLeap 4y ago
  That's downright affordable, I wonder what the limits are on what they'll cover? Somebody with money and a sense of humor could potentially manifest comedy gold. I'm making a text editor where every letter you type gets slapped into a 3d mechanical typewriter by giant tentacle arms. I probably don't have the budget but reading an article in forbes about it would be very funny, maybe even the capstone of my entire career.

splitrocket 4y ago

Capitalism has a well known liberal bias.

readthenotes1 4y ago
If you mean liberalism in the original sense, it certainly does!
notch656a 4y ago
Capitalism is embraced by classical liberalism. Modern day "liberals" / progressivists have especially embraced American version of capitalism by using regulatory capture, basically coming up with 1 million and 1 ways to "make sure the consumer is protected" and then proceeding to capture the hell out of the regulatory framework to make sure anyone who disagrees with the regulation is called out as someone who wants people to get hurt / someone who wants to let industry oppress us. Meanwhile they rake in the profits while locking out competitors.
- pksebben 4y ago
  I would love to hear more from you. This take doesn't gel with anything I know, but it seems as though you and I have at least similar takes on how flawed a concept capitalism is - what I'm curious about is what you believe the connection between liberalism and capitalism is, and whether you also believe that conservatism is the antidote. I'll pregame such a conversation by saying that I'm disillusioned with both sides of the political spectra. I could most generically be described as a flavor of socialist, but that doesn't really capture what I believe effectively. I wish we had a direct democracy, and I'm off the opinion that unchecked capital markets have effectively coopted our political process.

jimjimjim 4y ago

Good god, was there actually a market for this? Did someone think they were too caring and inclusive? Most banks are usually found in the LawfulEvil square in D&D.

rchaud 4y ago

From the fine print of an even finer press release [0] from September 2022 announcing a 'financial lifestyle app': > GloriFi™ is a financial technology company, not a bank. Banking services provided by TransPecos Banks, SSB, Member FDIC. [0] https://www.prnewswire.com/news-releases/pro-america-mission-driven-tech-company-glorifi-aims-to-change-the-way-millions-bank-borrow-insure-and-buy-301629050.html https://www.prnewswire.com/news-releases/pro-america-mission...

NoboruWataya 4y ago

Obligatory Matt Levine take: https://www.bloomberg.com/opinion/articles/2022-10-11/anti-esg-can-be-good-business https://www.bloomberg.com/opinion/articles/2022-10-11/anti-e...