Yes, it takes longer—the term “slow money” is brought up later in the article—but can you think of a better way of investing money than in things “we can touch and/or impact and understand”? Money is just money, but this type of investment strategy can’t help but be rewarding on many other levels.
BankSimple released a demo video showing some of its new website. Phenomenal. It’s unlike any bank or financial institute website that I’ve ever seen. These guys seem too good to be true, but if they hold up to the hype they’ve created, they’re going to get really big, really fast.
I absolutely love watching companies assault the status quo—especially in stagnant industries like banking.
We often make fun of the slow, “dinosaur” companies that are fumbling around, trying to figure out what they make of this whole “internet thing.” But, what happens when our generation—a generation raised on the internet—is in control of the world’s institutions? Will we be benevolent with the information we have access to? We collectively seem to think so now, but I think this question will come up again… and again…
Follow me on this one: let’s say the exact same bank physically printed the exact same 1,300 customer records, put them in an envelope, and accidentally sent them to the wrong physical post office box. Let’s say it was your address. Would they even have a remote chance of getting a court order to keep you out of your PO Box until authorities (or the bank itself) was finished searching your mail and destroying anything it thought was theirs?
Of course they wouldn’t. Would they be able to sue you to get the property back? Probably not. So, why should our digital property be treated any differently?