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This tiny slice is important. Disruption of industries starts at the bottom and the margins. Finance's lunch will be eaten by the internet or one of its success
by silentOpen 17y ago
This tiny slice is important. Disruption of industries starts at the bottom and the margins. Finance's lunch will be eaten by the internet or one of its successors sooner or later.
It could be argued that the mortgage market meltdown was only possible with modern computational and communication technology so in some sense, the disruption is already happening -- the i-banks couldn't keep their newly possible hyper-risk under control.
- sokoloff 17y agoImportant or not, this tiny slice isn't going to "do away with banks altogether"
- silentOpen 17y agoThey even admit as much in the article... the headline was crap but thems the times we live in :-(. Think about a credit card company that makes a credit line marketplace... consumer banking will see major shifts in the next decade (wild predictions!).