i2pi

8 ms·

31.
by i2pi 14y ago
Here's my humble attempt: http://blog.i2pi.com/index.cgi?p=182
32.
by i2pi 14y ago
(Josh from Simple here) Not sure if I quite follow. We don't let our customers write checks directly. They can send checks from our apps, but they don't get a checkbook. Even if someone produced checks with one of our customer's account num
33.
by i2pi 14y ago
Hi - Josh here, co-founder at Simple. You've nailed it. We can't outcompete banks with gimmicks. We can't afford to lure people in with teaser rates or rewards programs that look great in an ad, but never work as well in reality. Instead, w
34.
by i2pi 14y ago
The concept dates back much further than Christensen. See http://en.wikipedia.org/wiki/Creative_destruction
35.
by i2pi 14y ago
There are two things going on here. First, as other commenters have noted, that as you increase the number of dimensions, the search space grows exponentially. The second, and deeper problem, is that our intuitions about 'volume' fail for h
36.
by i2pi 14y ago
We began rolling out in November of last year. It's going to take us a while to get through the entire list. I know many of you have been waiting over a year & we deeply appreciate your patience.
37.
by i2pi 14y ago
I've been using Simple since September[0] as a complete replacement for my bank account. That's the idea - you replace your existing checking/savings/etc accounts with Simple. [0]: I work there.
38.
by i2pi 15y ago
Hydrogen atoms fuse in stars to create heavier atoms. Rocks form. Organic molecules form given heat and time. Pre-cellular life forms. Some theorize that the first cells formed inside bubbles in rocks. Others think otherwise http://www.new
39.
by i2pi 15y ago
http://en.wikipedia.org/wiki/Gyrobus
40.
by i2pi 15y ago
Hi - I'm Josh - the guy behind Stop SOAP. There is no political intent behind this site. It is meant to be a joke. A joke with a grain of truth. Backstory: I was waiting for a conference call, saw that stopsoap wasn't registered and put thi
41.
by i2pi 15y ago
If you spend more money than what we have placed on the card account, but you have available funds at other accounts we manage, we'll automatically move over the money to cover the cost of your transaction. No fee. Real time. We don't have
42.
by i2pi 15y ago
Great question. Josh, CEO of Simple, here. The way it works is the card gets linked to an account on signup. This account is a non-interest bearing card account. When you deposit funds, we place those funds in other accounts. The other acco
43.
by i2pi 15y ago
On the naming of the account, it is a little more complicated. Everyone gets, at least, two accounts with us. One is a joint account, that is named 'Simple', but titled for the benefit of (FBO) our customers. But titling it such, all FDIC i
44.
by i2pi 15y ago
Yes - we provide you with the account & routing numbers so that you have direct access to your funds at the underlying account. (Josh - CEO, Simple)
45.
by i2pi 15y ago
I founded BankSimple in NY. I'm an Australian immigrant, and my co-founder is Indian. We pay less than $2k/mo for rent for an awesome office in Brooklyn, we had 10 people in the office over summer. Most of my team lives in Brooklyn, where t
46.
by i2pi 15y ago
It's actually closer to 1.1% of card transactions (our cards are debit cards). We also earn income as we pay out interest to our customers. We'll do fine.
47.
by i2pi 16y ago
Now that I've finished reading it, I'm kinda bummed that they didn't incorporate the high-res gravitational map of the earth. I wanna see some lorentz transforms in the mix :/
48.
by i2pi 16y ago
I'm a fan of dry satire, and this is the best commentary I've seen so far on high frequency trading.
49.
by i2pi 16y ago
Point well taken. Thanks!
50.
by i2pi 16y ago
We have certainly heard of that law and similar rulings and are in fairly regular contact with the regulators. BankSimple is the name of our product, our company is Simple Finance Technology Corp. (rolls off the tongue...) There is plenty o
51.
by i2pi 16y ago
I'm not a fan of the "affiliate" phrase. Most affiliate banking relationships are purely marketing relationships. Stick a logo on another bank's card and call it done. While our relationship with banks is similar from a regulatory perspecti
52.
by i2pi 16y ago
The Durbin Amendment only applies to banks with >$10bn balance sheets. I don't have the latest numbers, but in '08, the large banks were making closer to 45/55, not 80/20.
53.
by i2pi 16y ago
Hi. I'm Josh, the CEO. You can read more about our growing team on the /team/ page, but in summary, I have an MBA in Finance and Accounting, and worked with a multi-billion dollar investment portfolio. Shamir, our CFO (aka 'account manager'
54.
by i2pi 16y ago
"Tick data" refers to trade by trade execution data. Daily data is end of day summary data. If you are doing HFT, you need tick data and the market depth. Huge volumes of data compared to daily close data.
55.
by i2pi 16y ago
I agree with the author to the extent that being passionate about an idea is not enough if your goal is to be rich. However, if your goal is happiness, then I can't see a way to devote your life to a job without passion and be a happy perso
56.
by i2pi 16y ago
http://banksimple.com/
57.
by i2pi 16y ago
When you say wire transfers, do you mean international wire transfers or domestic ACH transactions? For the latter, there are a few companies that provide electronic ACH processing & an API. The biggest problem that you'll face is not a
58.
by i2pi 16y ago
Thanks Greg!
59.
by i2pi 16y ago
Kacy - We aren't currently issuing invites. There has been some confusion about this, but we clarify this here http://banksimple.net/blog/2010/08/10/our-invite-process
60.
by i2pi 16y ago
The biggest thing that helped my career and confidence was participating in open source projects. I was a terrible coder at the time, but I learned a great deal and it gave potential employers an additional degree of confidence. Given your

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