threattonature
Veteran
shyt about to get spooky for Financial Tech?
I work with a bunch of fintechs. A lot of my customers have sounded shook when talking about where things are headed.
Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
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I work with a bunch of fintechs. A lot of my customers have sounded shook when talking about where things are headed.
seems like in combo with what @IIVI said, if nothing is happening in the space when you can pass around low/no interest funny money, then the banking field doesn't change much from the old days of "pay deposit of 3%, lend it out at 6%, tee time at 3pm"
but now we are in a scenario where the CoL is so high that people dont even have the opportunity to take a risk with entrepreneurship where they can take loans, or even make significant deposits.
IIVI
Superstar
When it comes down to it, what do people use apps and software for? It's basically one of these three (fourth is really the 2nd category):
Communication
Productivity for things such as tracking progress, schedules, simplification, assistants or tools/gadgets that have replaced things like GPS, cameras, etc.
Entertainment for games, photoshop, music making, etc.
Research (kind of belongs to Productivity as more like a tool for someone to use so not really it's own category)
People even make apps for another category and combine them, like apps that track video game inventories which would be like a blend of Productivity and Entertainment.
Right now there's just no innovation. Just a bunch of people and businesses cloning everyone else.
It's pretty much one of those three things. If someone can find a legit fourth, you can be a rich person/company. This is really along the lines of human preferences, psychology and society.
Communication
Productivity for things such as tracking progress, schedules, simplification, assistants or tools/gadgets that have replaced things like GPS, cameras, etc.
Entertainment for games, photoshop, music making, etc.
Research (kind of belongs to Productivity as more like a tool for someone to use so not really it's own category)
People even make apps for another category and combine them, like apps that track video game inventories which would be like a blend of Productivity and Entertainment.
Right now there's just no innovation. Just a bunch of people and businesses cloning everyone else.
It's pretty much one of those three things. If someone can find a legit fourth, you can be a rich person/company. This is really along the lines of human preferences, psychology and society.
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what is very difficult is finding a way to make that particular app / category stand out while also not being absorbed into a feature of one of the other apps that already has an audience. Then how do you monetize to pay off AWS/Azure/GCP without ads or ridiculously priced subscriptions. Its a really tough environment. Even when this stuff was starting out and apps like flappy bird or whatever were coming out, it seemed to be ridiculous to "build an app." now it seems even moreso.
Strategy Letter V
When I was in college I took two intro economics courses: macroeconomics and microeconomics. Macro was full of theories like “low unemployment causes inflation” that never quite stood u…www.joelonsoftware.com
Once again: demand for a product increases when the price of its complements decreases. In general, a company’s strategic interest is going to be to get the price of their complements as low as possible. The lowest theoretically sustainable price would be the “commodity price” — the price that arises when you have a bunch of competitors offering indistinguishable goods. So:
Smart companies try to commoditize their products’ complements.
If you can do this, demand for your product will increase and you will be able to charge more and make more.
When IBM designed the PC architecture, they used off-the-shelf parts instead of custom parts, and they carefully documented the interfaces between the parts in the (revolutionary) IBM-PC Technical Reference Manual. Why? So that other manufacturers could join the party. As long as you match the interface, you can be used in PCs. IBM’s goal was to commoditize the add-in market, which is a complement of the PC market, and they did this quite successfully. Within a short time scrillions of companies sprung up offering memory cards, hard drives, graphics cards, printers, etc. Cheap add-ins meant more demand for PCs.
I hate Elon and Tesla. I still have some Tesla stock, but I’m only selling for good. Once I see cyber trucks more readily available. After that I’m completely on my f Elon like @BigMoneyGripAnd despite all of this, people will still flock to Twitter and continue putting money in his pockets
I thot hr people were some of the first to go @Spence
Nice, how was the exam? I got the associate cert last year, planning to get the professional next year
Depends on which types. “HR” is an all encompassing term now. Lower level TA
HRBP which is what I aspire to be is actually the ones calling the shots on who to let go in tandem with senior leadership and then having to be the ones to carry out orders themselves or delegate to direct subordinates to execute the firings/lay offs. At some point I’ll be in the room when those decisions are made or be the one directly consulting.
don't most these big companies just bring in consultants now? or is it the consultants come in to gather data and give recommendations and then HRBP identifies the tactical implementation?Depends on which types. “HR” is an all encompassing term now. Lower level TA
HRBP which is what I aspire to be is actually the ones calling the shots on who to let go in tandem with senior leadership and then having to be the ones to carry out orders themselves or delegate to direct subordinates to execute the firings/lay offs. At some point I’ll be in the room when those decisions are made or be the one directly consulting.
It's been spooky in FinTech. Got a job at a Euro FinTech in 2021 that was trying to expand into the US. They pulled out of America in 2022. A couple of people moved to Europe to keep their jobs. My job sucked and the pay was low. I stayed until the very end because they offered me a bonus to help shut things down.shyt about to get spooky for Financial Tech?
Joined another one in early 2022; 6 months later mass layoffs when the CEO decided to leave.
And that's when we gotta kill your ass, no Diddy
The consultants are just there as insulation to absorb any lawsuits by saying they are an outside 3rd party that aided and was non biased. If consultants are brought in, HRBP’s will always be the one having to carry the axe that does the actual head chopping. Not that I would ever Want to fire someone, but if I’m in this line of work I would much rather be the one behind the gun pulling the trigger since “someone” has to do it.
Dzali OG
Dz Ali OG...Pay me like you owe me!
I think the lack of jobs will be the next war. When enough people aren't able to pay bills and have piece of mind they're going take to the streets.
HR is definitely one of the more detestable departments in an organization.
That’s why SNAP benefits are so generous. Hungry people are more apt to take action against authority.
