14 ms·

Moving On

216 points by thiele 14y ago

turoczy 14y ago
Having Alex move to Portland was something that really bolstered our startup community. It was a validation of sorts. And I can't thank him enough for what he did -- for Simple and so many other things -- while he was here.
jorgeortiz85 14y ago
Alex is one of the most thoughtful students of programming languages I know. I know he's spent time learning countless languages, he literally wrote the book on Scala, and for three years now he's organized the Emerging Languages conference (http://emerginglangs.com/ http://emerginglangs.com/). The conference features talks about interesting programming languages, no matter how obscure, predominantly from the creators and designers of those languages. So far as I know, it is the only conference of its kind, and is a huge service to the programming language ecosystem. (As an aside, said ecosystem is going through something of a renaissance. The quickly growing need for server-side software (where choice of tools need not impact the end user), the increased availability of low-level infrastructure such as the JVM and LLVM, and the ever-more-important challenges of concurrent and distributed programming have all contributed to this renewed interest in new programming languages.) If Alex is going to spend his time working on things related to programming languages and developer tools, then I, for one, can't wait.
- pdog 14y ago
  Sorry, but Martin Odersky, Lex Spoon and Bill Venners wrote the book on Scala: Programming in Scala: A Comprehensive Step-by-Step Guide, 2nd Edition[1] [1] - http://www.amazon.com/Programming-Scala-Comprehensive-Step-Step/dp/0981531644/ http://www.amazon.com/Programming-Scala-Comprehensive-Step-S...
  - old_sound 14y ago
    I think he meant this one: http://ofps.oreilly.com/titles/9780596155957/ http://ofps.oreilly.com/titles/9780596155957/
  - mattdeboard 14y ago
    Never let a sense of humor get in the way of a good opportunity for pedantry & parochialism.
  - Mongoose 14y ago
    FWIW, al3x wrote the forward to that book in addition to the one that old_sound mentioned.
samstave 14y ago
Couldn't he have taken on the lead role of R&D? Of an experimental dev arm etc... There are lots of opps he could have taken. Sure, It might not have been a good role, but sounds like there were relationship issues as well. I wouldn't imagine his cut and run solely on "I cant program enough" -- He had to be either under performing or frustrated with the others' lack of leadership/performance/flexibility/ability to listen/you-name-it There are too many reasons to leave a company, but who knows the truth.... Haven't looked at simple since we speculated over their biz model ~12 months ago on HN... and frankly, as i still perceive them as a simple proxy to Big Evil banks (TM) - I'll still never trust them.... Though that is not related to the story... I still have nothing to convince me to think they are not just trying to find a way to cash in on the most despicable industry in existence... banking.
- cloudwalking 14y ago
  Companies at this stage--startups hitting stride--don't need "experimental R&D dev arms." The need laser focus on their main product, no distractions. I think it's completely plausible that he doesn't get enough time programming and he's leaving because of it. Simple is growing. At this stage, he's a manager, not a programmer. Sounds like he isn't too interested in managing.
  - niketdesai 14y ago
    They have a lot to ship, still. It seems that being a CTO and moving down the chain to program more is a precarious road to traverse. Most people seem to leave their respective companies and hang on as advisors. Maybe it's just too awkward?
    - cloudwalking 14y ago
      I think it would be tough to go from CTO to a lower role in the same company. Strange dynamics would follow. He is staying on as an advisor though :)
    - tptacek 14y ago
      Too awkward? He wrote explicitly about why he was leaving: Simple has challenging problems, but they are not the challenging problems that light Alex up. Alex is interested in programming languages and dev tools, not tracking and routing money. I don't have to speculate about that or wonder if there's "awkwardness" behind it. Alex said so. Just read the post. You wonder whether people write posts like this because they anticipate speculation about why they're leaving or how the company is doing. Of course, there's no win to be had in being honest and direct, because people are just going to invent their own stories. The narrative that eventually sticks is the one that is most fun to bounce around, or has the most resonance to people, or is most congenial to people's ideology.
rileywatkins 14y ago
I've only been following Alex since he left Twitter, but [Bank]Simple always struck me as exactly the kind of dream company I'd want to be at (never really considered myself good enough to pursue it though). Given his previous posts regarding how much he likes Portland compared to San Francisco, I'm a little bit surprised to see him moving back to the Bay Area. Regardless, I'm excited to see what he does next and I wish him the best of luck.
- wardmel 14y ago
  Why do you consider yourself not good enough to work there? I don't know you, but I find that most developers that say that do just fine. Oh yeah, we're hiring too: https://cloudability.com/jobs/ https://cloudability.com/jobs/
  - ShamirKarkal 14y ago
    I agree - quite a few of our current employees told me that they thought the same before they were hired at Simple. You should check out our open jobs at https://www.simple.com/careers/ https://www.simple.com/careers/.
- neilkod 14y ago
  >>never really considered myself good enough to pursue it though Self-doubt is an evil, evil thing. Don't let it hold you back. I landed an opportunity to interview at $REDACTEDBUTITSATOPINTERNETPROPERTY. I didn't even want to fly out for the interview - I thought it would be a waste of time. It took lots and lots of convincing by my wife and other friends and family just for me to go out and interview. I guess you can see where this is headed - I start there in 2 weeks. tl;dr self-doubt is evil.
- zeedunk 14y ago
  Engineer @ Simple here. Don't psych yourself out. Before I applied I figured I wouldn't even get a call. I was some rando from the midwest without much on Github and very little internet presence. I figured the worst thing that would happen is that I would get interviewed and they'd just pass. If that's all you're risking, you're not risking much. As it turns out, the team and I clicked and I've spent the best working year of my life cranking on this. I look forward to many more years of the same. Worst we can do is say 'no'. https://www.simple.com/careers/ https://www.simple.com/careers/
olalonde 14y ago
I hate to be that guy but why is this Hacker News-worthy? (genuinely curious)
- nostrademons 14y ago
  Alex was an early Twitter employee, Twitter API lead at a time that many HN readers were writing Twitter apps, and wrote Programming Scala. There're a number of folks here that follow his writings with interest.
  - olalonde 14y ago
    Thanks for the info. I'm sure I wasn't the only one wondering despite the down votes.
    - dredmorbius 14y ago
      It's a totally fair gripe. One thing HN's format is piss-poor at is providing context for stories, other than the headline (and that's had its own set of issues with rewrites).
- nicholassmith 14y ago
  In addition to the credentials that was listed, I'd say it's relevant as its about an engineer thinking he should try founder/executive and realising that it wasn't the right fit for him now. That could be useful for the many people thinking about transitioning down the same path.
  - jarek 14y ago
    Given his affinity towards programming languages, he sounds more like a computer scientist than an engineer, frankly. I wish the two roles didn't get conflated so much.
    - jorgeortiz85 14y ago
      That's like saying a carpenter that has an affinity for his saws and hammers is more of a physicist than a carpenter.
losethos 14y ago
All I can do is wait for God to kill. God says... C:\Text\WEALTH.TXT nd in the mean time both they and the soldiers were absorbed in the great mass of the people, and employed in a great variety of occupations. Not only no great convulsion, but no sensible disorder, arose from so great a change in the situation of more than 100,000 men, all accustomed to the use of arms, and many of them to rapine and plunder. The number of vagrants was scarce anywhere sensibly increased by it; even the wages of labour were not reduced by it in any occupation, so far as I have been a ---- God says... C:\Text\DARWIN.TXT are found which have not been discovered in the intertropical parts of Africa. Dr. Hooker has also lately shown that several of the plants living on the upper parts of the lofty island of Fernando Po, and on the neighbouring Cameroon Mountains, in the Gulf of Guinea, are closely related to those on the mountains of Abyssinia, and likewise to those of temperate Europe. It now also appears, as I hear from Dr. Hooker, that some of these same temperate plants have been discovered by the Rev. R.T. Low
templaedhel 14y ago
I'm sure Al3x will find success wherever he ends up. This is worrisome for Simple though. I signed up a little over 2 years ago as when Al3x announced he was joining as a cofounder http://news.ycombinator.com/item?id=1355292 http://news.ycombinator.com/item?id=1355292, it seemed like a great product, and I couldn't wait. Now, 2 years later they have begun to roll out invites to what amounts to a MVP. No way to deposit cash, no simple way to deposit checks (specifically the deposit via mobile app functionality), no goals or budgeting aspects, no joint accounts or lines of credit, no android app, just a nice looking card tied to an account you have to wire money into. Don't get me wrong, simple is doing great things, and it could be huge. Two years of dev time for a product that is completely redesigning one of the biggest industries in the world is completely reasonable. I'm just worried the hype will run out or turn negative before they can ship something with enough value to convert the non early adapters. Having a cofounder leave doesn't help their image, regardless of the reasons for the departure.
- Cushman 14y ago
  Were you really expecting all that from a company called "Simple"? :P Seriously, those are all nice features, and the check depositing is a must-have that I'm sure they're working hard on, but for me and most of my peers, all I really want is a debit card I don't have to think about. That's Simple. Wow. Okay, this is totally crazy: I also signed up for an invite almost two years ago (when it was BankSimple), and just checked the old confirmation email to see the exact date-- literally as I'm writing this comment I have received, 0 minutes ago, an email inviting me to register. I guess I'll find out how it works :)
  - shanecleveland 14y ago
    I agree that it is in MVP mode now. Practically unusable in my case because joint accounts are not yet allowed, but I immediately jumped on the invite I was waiting on for two years. As Cushman noted, the name says it all – Simple. The interface is gorgeous and intuitive and unlike anything you find at any other bank. It won't ever be for everybody, but I believe it will be the very best option for many that need only the simplest and smartest of banking options. I recently needed to write a check for several thousand dollars to an individual for a service provided. This would have been impossible if Simple was my only bank, because they do not issue paper checkbooks. I either could have withdrawn cash each day over a week-long period ($500 daily max) or arranged to set them up to be paid electronically. But I don't think we are to a point yet where paying a local, small-business owner with an electronic transfer for a service is feasible. Can you imagine if someone you were expecting immediate payment from for a service you just provided said "I can't write you a check, but give me your email address or bank routing number and account number, and I will be sure to have that transferred to you, which may take two to five days." No way. Maybe someday. I have found one bank that encompasses basically all the features Simple has promised from the beginning. Believe it or not, it is State Farm Bank. The interface is clunky compared to Simple, but they deliver on the product: iPhone app with photo check deposit, bill pay and transfers. Real-time account balance. Balance reflecting future planned deposits and payments. Through the website you can send money to anyone through PayPal or direct to their bank accounts, deposit checks by scanning and transfer in and out of your own external bank accounts. Reimbursement for all ATM fees. You get paper checks. I've never had any fees issued or any reason to contact support for anything. I have been extremely happy, but would like to see all of this combined with the technology and interface of Simple.
pxlpshr 14y ago
I worked for a similar company (affiliated banking) that was trying to put a fresh perspective on personal banking. For hardcore technologist, I think the finance industry is extremely frustrating industry to work in. The amount of legislation (necessary or otherwise) seems to create an atmosphere of bureaucracy; not to dissimilar from you local government office. It's like the keepers of all-things-compliclated in finance, likes to keep it that way and compounds the problem of progressing positive ideas and methodologies. On the flip side, the amount of risk and fraud that faces these companies is mindblowing. We've lost tens of thousands of dollars to fraud in the blink of an eye. It's a tough world, and people don't get excited about "change" because it brings uncertainty to an industry that needs to be pretty damn certain. You can't make like Facebook, "ship fast and break things." I have a ton of respect for what Simple is trying to accomplish. When I joined a competitive service about 2 years ago, BankSimple was the benchmark for comparing the "new guard" vs. the "old guard". Unfortunately, the old guard progressed faster due to established relationship of 10+ years. But, what really turned me away were falling market caps for major prepaid providers as more and more big banks returned to their core product offering (personal banking, not high risk investment banking) and explored alternative vehicles like GPR cards. In any event, Simple is something the consumer market needs and hat-tip to Al3x.
methodin 14y ago
Are there misconceptions with what a CTO actually entails? I've not heard of a CTO that does any physical programming with respect to their job. This might be different in a small startup but my understanding of a CTO's role is to guide architectural and development goals of the company as a whole - and to hire great people to implement that vision. It sucks he would have to leave but part of me wonders why he thought the CTO role involved a fair amount of programming and why he wouldn't just move into a lead developer role as opposed to leaving entirely?
- esamek 14y ago
  This depends on the company and stage it is in. At HelloWallet, our CTO does indeed do some programming some of the time. Since we are still somewhat a bootstrapped startup, everyone that has the ability to help out does at some point. Is it the overwhelming amount of time? Well, no, but still... In regard to architectural and developmental goals, that job is the responsibility of our Chief Architect...who also does a very substantial amount of programming as well. TLDR; Titles are not always one-to-one with roles.
antidaily 14y ago
He's pissed because he hasn't gotten an invite yet, either.
whalesalad 14y ago
Simple needs to get their marketing gang together and do some damage assessment. Alex Payne is the sole reason so many have signed up for this service. At this point, I no longer have a reason to use it. My faith in their organization has also decreased drastically. I have an account with a few bucks in it, and I use it sparingly. I don't think i'd ever transition 100% to using it. I don't see the advantage to Simple's service to something like ING Direct. With ING I have everything that I get from Simple, but I can also send checks, have a paper ING checkbook, and a multitude of other free services (overdraft protection up to a few hundred bucks). The only thing that had me excited about Simple was Alex. I was very curious to see where he would lead the company in terms of cool bank tech. Now they've lost all of their mojo in my eyes, and I am sure the eyes of many. Now it's time for the marketing crew to come in and market the shit out of this platform to people like us.
jqueryin 14y ago
So I've got to ask Alex.. is it coincidence that you decided to leave after 2 years when you were most likely fully vested or was it a strategic move? Did you retain your shares :-P
- pbiggar 14y ago
  Its unlikely he's fully vested. Its damn near standard to have 4 year vesting, with month-by-month vesting after the first year.
gmack 14y ago
It's great that he decided not to jump immediately to another job. Unless you are in a financially tight situation, you really need some time to decompress your mind, and clear it of any company-dynamics residue.
vtry 14y ago
I guess this means BankSimple is in trouble, or not growing as fast as projected.
mrbrianholland 14y ago
At any point in your career, it is important to think about the future. It is crucial to know where you want to be in the future and how to get there, whether it is your career, family or both. Whether you leave a job by choice or not by choice, your career is long and there are usually several paths to get to where you want to be. I have worked in investment banking and private equity for a number of years and decided to make a switch to corporate development for a company (ie - doing acquisitions for them), so that I could spend a bit more time creating side projects such as http://drivingtests101.com/ http://drivingtests101.com/, a free driving test prep website for 11 countries, with apps in 4 countries and rapidly expanding. I was very fortunate for my driving test app in Canada to be #2 ranked education, #19 in Australia and rapidly catching up in the US and UK. Life is short. Do what you want to do as soon as you can so you can enjoy what you do. It's that simple.

216 points by thiele 14y ago

Having Alex move to Portland was something that really bolstered our startup community. It was a validation of sorts. And I can't thank him enough for what he did -- for Simple and so many other things -- while he was here.

jorgeortiz85 14y ago

Alex is one of the most thoughtful students of programming languages I know. I know he's spent time learning countless languages, he literally wrote the book on Scala, and for three years now he's organized the Emerging Languages conference (http://emerginglangs.com/ http://emerginglangs.com/). The conference features talks about interesting programming languages, no matter how obscure, predominantly from the creators and designers of those languages. So far as I know, it is the only conference of its kind, and is a huge service to the programming language ecosystem. (As an aside, said ecosystem is going through something of a renaissance. The quickly growing need for server-side software (where choice of tools need not impact the end user), the increased availability of low-level infrastructure such as the JVM and LLVM, and the ever-more-important challenges of concurrent and distributed programming have all contributed to this renewed interest in new programming languages.) If Alex is going to spend his time working on things related to programming languages and developer tools, then I, for one, can't wait.

pdog 14y ago
Sorry, but Martin Odersky, Lex Spoon and Bill Venners wrote the book on Scala: Programming in Scala: A Comprehensive Step-by-Step Guide, 2nd Edition[1] [1] - http://www.amazon.com/Programming-Scala-Comprehensive-Step-Step/dp/0981531644/ http://www.amazon.com/Programming-Scala-Comprehensive-Step-S...
- old_sound 14y ago
  I think he meant this one: http://ofps.oreilly.com/titles/9780596155957/ http://ofps.oreilly.com/titles/9780596155957/
- mattdeboard 14y ago
  Never let a sense of humor get in the way of a good opportunity for pedantry & parochialism.
- Mongoose 14y ago
  FWIW, al3x wrote the forward to that book in addition to the one that old_sound mentioned.

samstave 14y ago

Couldn't he have taken on the lead role of R&D? Of an experimental dev arm etc... There are lots of opps he could have taken. Sure, It might not have been a good role, but sounds like there were relationship issues as well. I wouldn't imagine his cut and run solely on "I cant program enough" -- He had to be either under performing or frustrated with the others' lack of leadership/performance/flexibility/ability to listen/you-name-it There are too many reasons to leave a company, but who knows the truth.... Haven't looked at simple since we speculated over their biz model ~12 months ago on HN... and frankly, as i still perceive them as a simple proxy to Big Evil banks (TM) - I'll still never trust them.... Though that is not related to the story... I still have nothing to convince me to think they are not just trying to find a way to cash in on the most despicable industry in existence... banking.

cloudwalking 14y ago
Companies at this stage--startups hitting stride--don't need "experimental R&D dev arms." The need laser focus on their main product, no distractions. I think it's completely plausible that he doesn't get enough time programming and he's leaving because of it. Simple is growing. At this stage, he's a manager, not a programmer. Sounds like he isn't too interested in managing.
- niketdesai 14y ago
  They have a lot to ship, still. It seems that being a CTO and moving down the chain to program more is a precarious road to traverse. Most people seem to leave their respective companies and hang on as advisors. Maybe it's just too awkward?
  - cloudwalking 14y ago
    I think it would be tough to go from CTO to a lower role in the same company. Strange dynamics would follow. He is staying on as an advisor though :)
  - tptacek 14y ago
    Too awkward? He wrote explicitly about why he was leaving: Simple has challenging problems, but they are not the challenging problems that light Alex up. Alex is interested in programming languages and dev tools, not tracking and routing money. I don't have to speculate about that or wonder if there's "awkwardness" behind it. Alex said so. Just read the post. You wonder whether people write posts like this because they anticipate speculation about why they're leaving or how the company is doing. Of course, there's no win to be had in being honest and direct, because people are just going to invent their own stories. The narrative that eventually sticks is the one that is most fun to bounce around, or has the most resonance to people, or is most congenial to people's ideology.

rileywatkins 14y ago

I've only been following Alex since he left Twitter, but [Bank]Simple always struck me as exactly the kind of dream company I'd want to be at (never really considered myself good enough to pursue it though). Given his previous posts regarding how much he likes Portland compared to San Francisco, I'm a little bit surprised to see him moving back to the Bay Area. Regardless, I'm excited to see what he does next and I wish him the best of luck.

wardmel 14y ago
Why do you consider yourself not good enough to work there? I don't know you, but I find that most developers that say that do just fine. Oh yeah, we're hiring too: https://cloudability.com/jobs/ https://cloudability.com/jobs/
- ShamirKarkal 14y ago
  I agree - quite a few of our current employees told me that they thought the same before they were hired at Simple. You should check out our open jobs at https://www.simple.com/careers/ https://www.simple.com/careers/.
neilkod 14y ago
>>never really considered myself good enough to pursue it though Self-doubt is an evil, evil thing. Don't let it hold you back. I landed an opportunity to interview at $REDACTEDBUTITSATOPINTERNETPROPERTY. I didn't even want to fly out for the interview - I thought it would be a waste of time. It took lots and lots of convincing by my wife and other friends and family just for me to go out and interview. I guess you can see where this is headed - I start there in 2 weeks. tl;dr self-doubt is evil.
zeedunk 14y ago
Engineer @ Simple here. Don't psych yourself out. Before I applied I figured I wouldn't even get a call. I was some rando from the midwest without much on Github and very little internet presence. I figured the worst thing that would happen is that I would get interviewed and they'd just pass. If that's all you're risking, you're not risking much. As it turns out, the team and I clicked and I've spent the best working year of my life cranking on this. I look forward to many more years of the same. Worst we can do is say 'no'. https://www.simple.com/careers/ https://www.simple.com/careers/

olalonde 14y ago

I hate to be that guy but why is this Hacker News-worthy? (genuinely curious)

nostrademons 14y ago
Alex was an early Twitter employee, Twitter API lead at a time that many HN readers were writing Twitter apps, and wrote Programming Scala. There're a number of folks here that follow his writings with interest.
- olalonde 14y ago
  Thanks for the info. I'm sure I wasn't the only one wondering despite the down votes.
  - dredmorbius 14y ago
    It's a totally fair gripe. One thing HN's format is piss-poor at is providing context for stories, other than the headline (and that's had its own set of issues with rewrites).
nicholassmith 14y ago
In addition to the credentials that was listed, I'd say it's relevant as its about an engineer thinking he should try founder/executive and realising that it wasn't the right fit for him now. That could be useful for the many people thinking about transitioning down the same path.
- jarek 14y ago
  Given his affinity towards programming languages, he sounds more like a computer scientist than an engineer, frankly. I wish the two roles didn't get conflated so much.
  - jorgeortiz85 14y ago
    That's like saying a carpenter that has an affinity for his saws and hammers is more of a physicist than a carpenter.

losethos 14y ago

All I can do is wait for God to kill. God says... C:\Text\WEALTH.TXT nd in the mean time both they and the soldiers were absorbed in the great mass of the people, and employed in a great variety of occupations. Not only no great convulsion, but no sensible disorder, arose from so great a change in the situation of more than 100,000 men, all accustomed to the use of arms, and many of them to rapine and plunder. The number of vagrants was scarce anywhere sensibly increased by it; even the wages of labour were not reduced by it in any occupation, so far as I have been a ---- God says... C:\Text\DARWIN.TXT are found which have not been discovered in the intertropical parts of Africa. Dr. Hooker has also lately shown that several of the plants living on the upper parts of the lofty island of Fernando Po, and on the neighbouring Cameroon Mountains, in the Gulf of Guinea, are closely related to those on the mountains of Abyssinia, and likewise to those of temperate Europe. It now also appears, as I hear from Dr. Hooker, that some of these same temperate plants have been discovered by the Rev. R.T. Low

templaedhel 14y ago

I'm sure Al3x will find success wherever he ends up. This is worrisome for Simple though. I signed up a little over 2 years ago as when Al3x announced he was joining as a cofounder http://news.ycombinator.com/item?id=1355292 http://news.ycombinator.com/item?id=1355292, it seemed like a great product, and I couldn't wait. Now, 2 years later they have begun to roll out invites to what amounts to a MVP. No way to deposit cash, no simple way to deposit checks (specifically the deposit via mobile app functionality), no goals or budgeting aspects, no joint accounts or lines of credit, no android app, just a nice looking card tied to an account you have to wire money into. Don't get me wrong, simple is doing great things, and it could be huge. Two years of dev time for a product that is completely redesigning one of the biggest industries in the world is completely reasonable. I'm just worried the hype will run out or turn negative before they can ship something with enough value to convert the non early adapters. Having a cofounder leave doesn't help their image, regardless of the reasons for the departure.

Cushman 14y ago
Were you really expecting all that from a company called "Simple"? :P Seriously, those are all nice features, and the check depositing is a must-have that I'm sure they're working hard on, but for me and most of my peers, all I really want is a debit card I don't have to think about. That's Simple. Wow. Okay, this is totally crazy: I also signed up for an invite almost two years ago (when it was BankSimple), and just checked the old confirmation email to see the exact date-- literally as I'm writing this comment I have received, 0 minutes ago, an email inviting me to register. I guess I'll find out how it works :)
- shanecleveland 14y ago
  I agree that it is in MVP mode now. Practically unusable in my case because joint accounts are not yet allowed, but I immediately jumped on the invite I was waiting on for two years. As Cushman noted, the name says it all – Simple. The interface is gorgeous and intuitive and unlike anything you find at any other bank. It won't ever be for everybody, but I believe it will be the very best option for many that need only the simplest and smartest of banking options. I recently needed to write a check for several thousand dollars to an individual for a service provided. This would have been impossible if Simple was my only bank, because they do not issue paper checkbooks. I either could have withdrawn cash each day over a week-long period ($500 daily max) or arranged to set them up to be paid electronically. But I don't think we are to a point yet where paying a local, small-business owner with an electronic transfer for a service is feasible. Can you imagine if someone you were expecting immediate payment from for a service you just provided said "I can't write you a check, but give me your email address or bank routing number and account number, and I will be sure to have that transferred to you, which may take two to five days." No way. Maybe someday. I have found one bank that encompasses basically all the features Simple has promised from the beginning. Believe it or not, it is State Farm Bank. The interface is clunky compared to Simple, but they deliver on the product: iPhone app with photo check deposit, bill pay and transfers. Real-time account balance. Balance reflecting future planned deposits and payments. Through the website you can send money to anyone through PayPal or direct to their bank accounts, deposit checks by scanning and transfer in and out of your own external bank accounts. Reimbursement for all ATM fees. You get paper checks. I've never had any fees issued or any reason to contact support for anything. I have been extremely happy, but would like to see all of this combined with the technology and interface of Simple.

pxlpshr 14y ago

I worked for a similar company (affiliated banking) that was trying to put a fresh perspective on personal banking. For hardcore technologist, I think the finance industry is extremely frustrating industry to work in. The amount of legislation (necessary or otherwise) seems to create an atmosphere of bureaucracy; not to dissimilar from you local government office. It's like the keepers of all-things-compliclated in finance, likes to keep it that way and compounds the problem of progressing positive ideas and methodologies. On the flip side, the amount of risk and fraud that faces these companies is mindblowing. We've lost tens of thousands of dollars to fraud in the blink of an eye. It's a tough world, and people don't get excited about "change" because it brings uncertainty to an industry that needs to be pretty damn certain. You can't make like Facebook, "ship fast and break things." I have a ton of respect for what Simple is trying to accomplish. When I joined a competitive service about 2 years ago, BankSimple was the benchmark for comparing the "new guard" vs. the "old guard". Unfortunately, the old guard progressed faster due to established relationship of 10+ years. But, what really turned me away were falling market caps for major prepaid providers as more and more big banks returned to their core product offering (personal banking, not high risk investment banking) and explored alternative vehicles like GPR cards. In any event, Simple is something the consumer market needs and hat-tip to Al3x.

methodin 14y ago

Are there misconceptions with what a CTO actually entails? I've not heard of a CTO that does any physical programming with respect to their job. This might be different in a small startup but my understanding of a CTO's role is to guide architectural and development goals of the company as a whole - and to hire great people to implement that vision. It sucks he would have to leave but part of me wonders why he thought the CTO role involved a fair amount of programming and why he wouldn't just move into a lead developer role as opposed to leaving entirely?

esamek 14y ago
This depends on the company and stage it is in. At HelloWallet, our CTO does indeed do some programming some of the time. Since we are still somewhat a bootstrapped startup, everyone that has the ability to help out does at some point. Is it the overwhelming amount of time? Well, no, but still... In regard to architectural and developmental goals, that job is the responsibility of our Chief Architect...who also does a very substantial amount of programming as well. TLDR; Titles are not always one-to-one with roles.

antidaily 14y ago

He's pissed because he hasn't gotten an invite yet, either.

whalesalad 14y ago

Simple needs to get their marketing gang together and do some damage assessment. Alex Payne is the sole reason so many have signed up for this service. At this point, I no longer have a reason to use it. My faith in their organization has also decreased drastically. I have an account with a few bucks in it, and I use it sparingly. I don't think i'd ever transition 100% to using it. I don't see the advantage to Simple's service to something like ING Direct. With ING I have everything that I get from Simple, but I can also send checks, have a paper ING checkbook, and a multitude of other free services (overdraft protection up to a few hundred bucks). The only thing that had me excited about Simple was Alex. I was very curious to see where he would lead the company in terms of cool bank tech. Now they've lost all of their mojo in my eyes, and I am sure the eyes of many. Now it's time for the marketing crew to come in and market the shit out of this platform to people like us.

jqueryin 14y ago

So I've got to ask Alex.. is it coincidence that you decided to leave after 2 years when you were most likely fully vested or was it a strategic move? Did you retain your shares :-P

pbiggar 14y ago
Its unlikely he's fully vested. Its damn near standard to have 4 year vesting, with month-by-month vesting after the first year.

gmack 14y ago

It's great that he decided not to jump immediately to another job. Unless you are in a financially tight situation, you really need some time to decompress your mind, and clear it of any company-dynamics residue.

vtry 14y ago

I guess this means BankSimple is in trouble, or not growing as fast as projected.

mrbrianholland 14y ago

At any point in your career, it is important to think about the future. It is crucial to know where you want to be in the future and how to get there, whether it is your career, family or both. Whether you leave a job by choice or not by choice, your career is long and there are usually several paths to get to where you want to be. I have worked in investment banking and private equity for a number of years and decided to make a switch to corporate development for a company (ie - doing acquisitions for them), so that I could spend a bit more time creating side projects such as http://drivingtests101.com/ http://drivingtests101.com/, a free driving test prep website for 11 countries, with apps in 4 countries and rapidly expanding. I was very fortunate for my driving test app in Canada to be #2 ranked education, #19 in Australia and rapidly catching up in the US and UK. Life is short. Do what you want to do as soon as you can so you can enjoy what you do. It's that simple.