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larger banks

3 statements across 3 episodes · 0 bullish · 2 bearish · 2 people on the record · first statement Jan 2, 2019 by Max Levchin · across every show →

Everything said about larger banks, oldest first

Jan 2, 2019 negative
Opinion
Levchin: Point-of-sale credit cards with deferred interest are borderline evil
“There's a sort of an implicit indictment of the larger banks that do what's known as point of sale issued credit cards, which is, you know, some are borderline evil product because they give you a zero percent financing unless you miss the first payment, at wh…”
Max Levchin Jan 2, 2019 ▶ 15:53 a16z Podcast | Building Affirm, and Why Max Levchin Has Watched Seven Samurai 100-Plus Times
Jan 21, 2020 negative
Assertion Not checkable as stated
Strange: Large banks spend 75% of IT budgets maintaining legacy products
“At some of the larger banks, 75% of those dollars are spent on maintaining the products that you don't already love.”
Angela Strange Jan 21, 2020 ▶ 3:07 Any Company Can Offer Financial Services
Jan 27, 2023 neutral
Assertion Partly supported
Strange: Major bank compliance headcount grew from 4% to 15%
“Like some of the larger banks, if you read their annual reports, 10 years ago, four percent of their employees were in the compliance and risk functions. And now it's up to 15%.”
Angela Strange Jan 27, 2023 ▶ 12:54 2023 Big Ideas in Technology (Part 2)
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