I think one of the lessons of the contemporary internet is that outsiders often have some really helpful, valuable ways to improve institutional products + services.
It is true that when the stakes are high it's a little nerve-wracking. But really there couldn't be a better moment in time for outsiders w/out finance cred to take a crack at this. so many people are like, "ok, we let the "experts" manage finance. this doesn't work out so well all of the time..."
SO many people are chomping at the bit for anything better. i read comments on twitter every day from folks who are totally frustrated with their banks not just from incompetence, but because the services don't fit their lifestyles/ ways of managing money. maybe banksimple's initial customers will just be nomadic alpha geeks, start-up folks, and high frequency money movers. that's OK. alpha geeks were amazon's first customers, too.
It is true that when the stakes are high it's a little nerve-wracking. But really there couldn't be a better moment in time for outsiders w/out finance cred to take a crack at this. so many people are like, "ok, we let the "experts" manage finance. this doesn't work out so well all of the time..."
SO many people are chomping at the bit for anything better. i read comments on twitter every day from folks who are totally frustrated with their banks not just from incompetence, but because the services don't fit their lifestyles/ ways of managing money. maybe banksimple's initial customers will just be nomadic alpha geeks, start-up folks, and high frequency money movers. that's OK. alpha geeks were amazon's first customers, too.