Monday, March 30, 2015

Q&A - 30/3


In November, Tom Loverro of RRE Ventures wrote that “banks are under attack” and showed a few of the major players leading this trend. Inspired by his post [..] we wanted to dig in and see how banks are being unbundled by startups. The graphic [in the article], details companies attacking bank services ranging from robo-advisers wealth management services like Wealthfront and Betterment to small business loan companies like OnDeck Capital and Kabbage to small business service providers like Zenefits and ZenPayroll, and many other areas.


The picture shared in the post is scary BTW. If you are a bank that is...Old tech being swarmed by new tech..

Larry Summers

The price of handling bits [of data] has come down by a factor of 10,000 fold over the last generation; it’s high time that the costs of payments processing fall by a factor of even two. Bitcoin offers the prospect of necessary and important disruption in finance for the benefit of buyers and sellers rather than financiers and middlemen.

Totally Agree


Everyone's trying really hard not to call the Germanwings co-pilot a terrorist

Because he wasn't

Breivik was a terrorist. This guy was troubled. The main argument of this article seems to be "people immediately jump to conclusions (i.e. terrorist) when an Arab is involved, why don't they do the same here?". Well.. then people should make more mistakes in jumping to conclusions just so non-Western people feel better about things? What kind of reasoning is this?


[Repeat item] Want to get paid for shampooing someone's hair? In California, you may need to have at least nine months of experience and pass a licensing test overseen by the state barbering and cosmetology board, whose members include salon professionals.  Do you clean dogs' teeth for pay as part of a grooming service? You might run afoul of the state Veterinary Medical Board, which includes four veterinarians and a veterinary technician among its eight members [..].

[The recent Supreme Court] decision means that "the vast majority of commissions and boards in all 50 states are untenable and illegal," says Robert Fellmeth, a veteran antitrust expert who is executive director of the Center for Public Interest Law at the University of San Diego law school. The court has established, he says, that "the king has been wearing no clothes for the last 72 years."


The behaviour described above is second wave specialization: "In both capitalist and socialist industrial states [...] specialization was accompanied by a rising tide of professionalization. Whenever the opportunity arose for some group of specialists to monopolize esoteric knowledge and keep newcomers out of their field, professions emerged".

In 3W world noone decides who, for example, a professional taxi driver is. Good drivers are rated well in Uber or Lyft  and get more demand. Peer-to-peer, decentralized.