[FoRK] Disruptive innovation

Stephen Williams 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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