3 ms·

Which in some contexts makes sense. Losing all of your Facebook pictures is never going to be as devastating as losing your retirement.

steveBK123 3y ago
I think its rather disingenuous or modest for tech to fall back on "whats the worst that can happen, maybe you lose some pictures from the cloud" as a defense for such a light touch. There's many areas in which tech competes directly with, or has attempted to build shadow parallel systems to other more regulated industries - payments, exchanges, various medical plays, media, etc.
- dylan604 3y ago
  all of those "disruptors" just makes me cringe every time i hear it now. there have been so many bad actors. paypal still seizing accounts because some automated thing made a decision that can't be shared as to why. seems like Stripe as been in the news for similar topics. then you get the ones like Uber just flagrantly doing shady things to get that disruption. now, when i hear someone say disrupt, i immediately assume they are cutting corners on whatever regulation that is needed to gain a leg up over the incumbent companies following the regulations.
  - steveBK123 3y ago
    Tech thinks it is "disruption" when they are breaking laws they don't like / they deem outdated / they deem "unfair" / that prevent them from making more money more quickly. Tech wanted people to think this was different from Wall St somehow, but I think the average American no longer sees the difference.
  - seanmcdirmid 3y ago
    Paypal and Stripe's actions like seizing accounts automatically is probably more due to complying to industry rules rather than avoiding them. The "shady" things are what any bank would have to do, not just the techs.
    - WWLink 3y ago
      No way. Any time I've had a debit card shut off, they made several blatant attempts to contact me, and when I called them they immediately connected me to the fraud department to help solve the issue. Getting a paypal/google/whatever account flagged is basically the death of that account.
      - seanmcdirmid 3y ago
        You aren’t running a business, and you haven’t really dealt with your bank much beyond the e consumer level. They will cut you off as quickly as possible if they suspect anything nefarious going on. Banks are less reasonable than techs in this regards, you’ve just never used them to sell something.
        RhodesianHunter 3y ago
        >Banks are less reasonable than techs in this regards Nonsense. Banks have someone you can get on the phone, usually 24/7. Good luck getting anyone at Google on the phone.
        seanmcdirmid 3y ago
        Really they don't. They will cut you off and then maybe take your phone call. Google and Apple don't actually run their own financial services, they partner with the banks that you think are actually better, but aren't really.
  - WWLink 3y ago
    > now, when i hear someone say disrupt, i immediately assume they are cutting corners on whatever regulation that is needed to gain a leg up over the incumbent companies following the regulations. This is.. not new at all. We were talking about Uber doing that about a decade ago lol.
- seanmcdirmid 3y ago
  > There's many areas in which tech competes directly with, or has attempted to build shadow parallel systems to other more regulated industries - payments, exchanges, various medical plays, media, etc. If we are just talking about the USA, then I think both Apple and Google had to partner with entities in the financial industries to do payments, they didn't just bypass regulation in those industries. Then there is Stripe and Square (erm, whatever Square is called now), I'm not sure what regulations they fall under.
- scarface74 3y ago
  Are you suggesting that you want the government to have accessible recordings of medical conversations?

steveBK123 3y ago

I think its rather disingenuous or modest for tech to fall back on "whats the worst that can happen, maybe you lose some pictures from the cloud" as a defense for such a light touch. There's many areas in which tech competes directly with, or has attempted to build shadow parallel systems to other more regulated industries - payments, exchanges, various medical plays, media, etc.

dylan604 3y ago
all of those "disruptors" just makes me cringe every time i hear it now. there have been so many bad actors. paypal still seizing accounts because some automated thing made a decision that can't be shared as to why. seems like Stripe as been in the news for similar topics. then you get the ones like Uber just flagrantly doing shady things to get that disruption. now, when i hear someone say disrupt, i immediately assume they are cutting corners on whatever regulation that is needed to gain a leg up over the incumbent companies following the regulations.
- steveBK123 3y ago
  Tech thinks it is "disruption" when they are breaking laws they don't like / they deem outdated / they deem "unfair" / that prevent them from making more money more quickly. Tech wanted people to think this was different from Wall St somehow, but I think the average American no longer sees the difference.
- seanmcdirmid 3y ago
  Paypal and Stripe's actions like seizing accounts automatically is probably more due to complying to industry rules rather than avoiding them. The "shady" things are what any bank would have to do, not just the techs.
  - WWLink 3y ago
    No way. Any time I've had a debit card shut off, they made several blatant attempts to contact me, and when I called them they immediately connected me to the fraud department to help solve the issue. Getting a paypal/google/whatever account flagged is basically the death of that account.
    - seanmcdirmid 3y ago
      You aren’t running a business, and you haven’t really dealt with your bank much beyond the e consumer level. They will cut you off as quickly as possible if they suspect anything nefarious going on. Banks are less reasonable than techs in this regards, you’ve just never used them to sell something.
      - RhodesianHunter 3y ago
        >Banks are less reasonable than techs in this regards Nonsense. Banks have someone you can get on the phone, usually 24/7. Good luck getting anyone at Google on the phone.
        seanmcdirmid 3y ago
        Really they don't. They will cut you off and then maybe take your phone call. Google and Apple don't actually run their own financial services, they partner with the banks that you think are actually better, but aren't really.
- WWLink 3y ago
  > now, when i hear someone say disrupt, i immediately assume they are cutting corners on whatever regulation that is needed to gain a leg up over the incumbent companies following the regulations. This is.. not new at all. We were talking about Uber doing that about a decade ago lol.
seanmcdirmid 3y ago
> There's many areas in which tech competes directly with, or has attempted to build shadow parallel systems to other more regulated industries - payments, exchanges, various medical plays, media, etc. If we are just talking about the USA, then I think both Apple and Google had to partner with entities in the financial industries to do payments, they didn't just bypass regulation in those industries. Then there is Stripe and Square (erm, whatever Square is called now), I'm not sure what regulations they fall under.
scarface74 3y ago
Are you suggesting that you want the government to have accessible recordings of medical conversations?