News for hackers. Stuff that matters.
Re:Why is everyone a bank? by Apocryphon on Monday November 18, 2019 @07:08PM (#21569502)
As the engineer and writer Alex Payne put it, these startups represent “the field offices of a large distributed workforce assembled by venture capitalists and their associate institutions,” doing low-overhead, low-risk R&D for five corporate giants. In such a system, the real disillusionment isn’t the discovery that you’re unlikely to become a billionaire; it’s the realization that your feeling of autonomy is a fantasy, and that the vast majority of you have been set up to fail by design.

- No Exit: Struggling to Survive a Modern Gold Rush (2014)

Re:Why is everyone a bank? by thundergolfer on Monday November 18, 2019 @11:03PM (#21570567)
That’s an interesting perspective. Related to it, I often feel like entrepreneurs in tech don’t realise how much their innovation is restricted by capital markets.

OP’s startup is actually a great example of this. Medical debt is indeed a troubling problem in the USA, but OP’s solution is yet another financial product, something that can get funded. VCs can’t fund single-payer healthcare policy entrepreneurship even if that’s actually what would solve the medical debt problem.

Re:Why is everyone a bank? by kaushikktiwari on Tuesday November 19, 2019 @12:40AM (#21570883)
That's a very good point! I agree!