NDA’s don’t apply to Section I. We can tell each other everything. Next time they make you sign one, let me know and I’ll send our legal rep with you.
Thanks for a great article Mike. I find this super interesting and to Bo’s comment above: I totally agree that there is more time and money to be saved in making the overall mortgage process more efficient and less human capital instensive, and that’s exactly what some AI/Machine learning solutions are looking to do. One concern I have in this trend towards digitization is that of security, given the recent Equifax breach, how comfortable would you be in having digital documents and records for your home, that were notarized over webcam, and how do you protect the process from fake signatures etc. There’s a whole e-mortgage ecosystem developing with companies such as Approved.com, Roostify.com and countless others, so my real question is what’s your plan of action, and when do we go pitch to VCs.
Very interesting read YW! I just find it hard to fathom that they can move away from their core competency and point of differentiation. I do appreciate the steps they are taking towards sourcing from sustainable sources but the fact remains they produced 1.4bn items in 2016 alone, and are hoping people get rid of most of those items and buy again next year. There were also recent findings from “Changing Markets Foundation” that Inditex was among global fashion houses that were sourcing from factories in China, Indonesia and India that were dumping toxic wastes into waterways: https://sourcingjournalonline.com/hm-zara-levis-slammed-dirty-viscose-production/
I think it’s when customers start moving business away from Inditex that we’ll force them to change their model in the long run, but that’s easier said than done. (I love Massimo Dutti clothes too 🙁 )
Thanks Andrew, I’ve been quite skeptical about the adoption of blockchain at a massive scale but this article went a long way to convince me there could be a feasible solution if major players align behind it. My biggest concern is something you highlighted regarding the anonymous nature of transactions, and implied “self-reporting” for tax purposes. One of the biggest AML concerns has been oil & gas derived revenues getting monetized, given everything from Somali pirates acquiring oil & chemicals ships, to military groups taking over oil assets in recent armed conflicts. The tax part if specially troublesome as it would be in both counterparties’ interest to just have these decentralized ledgers, and only disclose a fraction of actual deals to evade taxes. Let’s see how regulation deals with these issues.
Thanks Marissa this article was so uplifting. You touched on J&J’s global focus and how the technology can help in remote areas too but I’m curious what the capex vs operating costs implications are for the technology at present. My guess would be much like the challenge with solar energy, perhaps it is currently only feasible to set up 3D printers where the scale of use makes it cost effective, but I hope we do reach a point where this reduces costs in the developing world too and improves procedures for patients and surgeons, a win-win like you said!
Interesting article and comments. While I agree that isolationist policies will disrupt the way global banks currently link capital, I think like most barriers to trade, it will create opportunities for local banks to gain business and/or form partnerships, which will affect the end user more than JP Morgan by increasing transaction and capital sourcing costs. So I totally agree with you that it is the responsibility of these massive global banks to work with and educate local governments and regulators as they make these changes. I also expect more consolidation across the entire financial services space as we’re trending towards an environment where only the fittest will survive.