2017

Banks are handling disruption well - Highlights

Thus far, it seems like the large banks are fending off digital disruption, perhaps embracing some of it on their own. The Economist takes a look: “Peer-to-peer lending, for instance, has grown rapidly, but still amounted to just $19bn on America’s biggest platforms and £3.8bn in Britain last year” “last year JPMorgan Chase spent over $9.5bn on technology, including $3bn on new initiatives” From a similar piece in the NY Times: “The consulting firm McKinsey estimated in a report last month that digital disruption could put $90 billion, or 25 percent of bank profits, at risk over the next three years as services become more automated and more tellers are replaced by chatbots.

Ode to Airports

An airport is a time pause. It’s an excuse to not stress or try. You’re trapped in the system and will eventually get there. You can’t leave or you’ll have to re-humiliate yourself through security. Airports are even powerful enough to make you cancel meetings if your flight is late, canceled…or you pretend it is. Your wedding could be delayed because of the airport and no one would really fault you.