exactly. so this policy which was ostensibly about closing a loophole used by big tech is actually a benefit to big tech because it keeps disruptive new competitors from arising. regulatory capture strikes again.
As a long-time Schwab user, one thing I was shocked by is that the login flow silently truncates the password to eight characters. I found this since I tend to have complex suffixes I rotate around, and one day I was able to login with the wrong suffix and even with no suffix at all. This must be due to some legacy process only allowing eight characters.
To anyone looking to test this, once login again becomes possible: Response I've gotten from Schwab website to a wrong password is merely loading of a blank page, with an endless spinner on top.
It'll be that price multiplied by how many SaaS tools you use, each of which will have some premium for their Enterprise plan supporting SSO, and typically they won't be transparent about what the price is or how to sign up for it, so you'll then have to go through the steps of negotiating an enterprise plan. Spending a few minutes to figure out their API sounds more fun
It’s really a cost/time to market comparison between the SaaS and you just using SharePoint or managing some substitute. If you’re proposing to drop $80 u/m for Airtable, there better be a tight business case.
Are you really suggesting they open up 20 different bank accounts? And not only pay the monthly account fees but also pay a bookkeeper to upload statements for all 20 banks into the accounting system? And have appropriate controls on all money movements? And float money between the accounts each time payroll or some large expense is run? And follow the financial results of all of those banks in order to find signs of weakness?
Id rather be in a world where businesses don’t have to spend so much time playing games with their bank accounts and just trust that their money is safe, which is why the fdic needs to guarantee the deposits.
That sounds like just another cost of doing business.
Companies RAID-stripe the data on their hard drives, they can pay somebody to spread the risk in their finances.
(At a certain scale this eventually becomes inevitable. Google actually has a huge real estate and finances arm precisely because they have the kind of money pool that is impacted by things like nation-state failure and changes to the tax code in 50 states).
What about my cash sweep account?
So, here’s the good thing about the cash sweep account: the assets held in the cash sweep account aren’t bank deposits or on SVB’s balance sheet—they’re held by a third-party custodian. So our understanding is you should be able to recover 100% of the funds there, regardless of what happens to the uninsured deposits at SVB.
Shooting up and destroying key infrastructure for a town leaving many without power sounds a lot more like domestic terrorism than free speech, especially if it is in response to a small number of adults having an event you disagree with.
Blocking selling is a good way to get sued, so brokerages are very hesitant to do it. If the price drops the trader can claim they wanted to sell and are owed the difference. Blocking buying doesn’t have this issue since you can’t sue for theoretical gains.
It’s true, but it’s not like other markets where someone can choose not to buy and additional sellers can come in, to make sure that prices are in some ways tied to costs. Here, everybody has to live somewhere, so by default you have a “naked short” position on housing. Efficient price discovery here is performing a short squeeze and finding the point of “maximum you can afford to pay without going broke”, which is only possible to reach with price collusion.
True, but that’s the interesting thing about these kinds of algorithms, they align the pricing approaches so the entities act more like one than they did before, effectively decreasing competition.
I would say that pricing approaches are already aligned, and this software is just another approach that may or may not replace existing approaches in some areas. I don't see how this decreases competition, tough. A competitor can still undercut their competition to attract tenants.
Anyone know if this acquisition is a win for Plaid, or are they are just panicking before bank API middleware becomes commoditized (e.g. http://paysli.com/ offering free authentication)
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