[FoRK] Disruptive innovation
sdw at lig.net
Thu Dec 29 13:04:40 PST 2011
On Thu Dec 29 12:20:05 2011, Ken Meltsner wrote:
> On Thu, Dec 29, 2011 at 1:29 PM, Adam L Beberg<beberg at mithral.com> wrote:
>> Banks are done. With 1-4 on every street corner in America, that should be
>> fairly disruptive. Banks with branches won't be able to compete. BLS says
>> that's about 1.8M jobs... I give them about 2 years.
> Banks are done? They keep building them (branch offices) around here, so
> clearly someone disagrees. I do wonder why we need more branch offices
> (and entirely new banks) since it's not like there is a significant
> increase in population in Wisconsin. If they were just changing the names,
> I'd understand, but there are several entirely new buildings within a few
> miles of my home.
It's common around here for banks to have nearly full-service
mini-branches in supermarkets. I actually like that a lot as they
generally have much better hours (open til 7pm every night, etc.). The
one grocery I used to go to also had a mini-post office, "open"
whenever the store was. The odd thing about the banks is that often
the mini-branches are about a block away from a full branch from the
same company, yet seem to have little interaction. In Burlingame, they
are literally on the other side of the same block.
I just assume they can get super cheap financing internally or
externally, and have plenty of patience to sell the property later if
needed, so it doesn't take much for them to turn at least a small
profit. They have a privileged position so they can out-compete useful
businesses too easily.
> Ken Meltsner
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