JsLampe
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Amazing what a year old computer can do when it isn't used occassionally for porn.
@Takeshi Young @redhat See, this is how you have a constructive conversation inside a comments section.I agree, Paypal has built a powerful platform and brand, and to their credit, they're not as evil as many would like to make them out to be. The pain points that create so much friction inside the payments industry (namely PP) are inherent of the current system, many of which consumers and merchants aren't aware of. This goes beyond fraud, chargebacks, holding rules, etc, (aka the things that really piss people off), but international regulations, federal policies and ecosystem politics. Regardless, all of these are the byproducts of 40-50 year of payments structures, entrenched business interests and regulation (which are trying to mitigate the systemic problems of the aging structure).
Reimagining this kind of network in the 21st century is, of course, easier said than done, but at least we have some innovative startups trying to tackle the problem, cause God/Allah/David Hasselhoff knows that these guys aren't going to innovate themselves.
@jspepper Ahhh, nah, can't let that kind of thinking stop us. If we're truly executing, than it won't matter where we are. Besides, we get some good coverage ourselves :) press.dwolla.com.
@redhat @JsLampe @Takeshi Young @redhat I think we're saying the same thing. What I meant was, that's the world of payments. Jack Henry? First Data? PULSE? Star? FIS? The industry is ran by institutions and organization which the general public know nothing about. The payment industry is an iceberg: we may see the tip, but we have 90% of the beast lay hidden underneath the water. (Thus why I inferred that Takeshi wasn't in Payments).
That 90%, if you'll remember, sunk the Titantic.
@Takeshi Young Ha, you're not in payments are you?
@TimInColorado Ha, thanks for the nod! To Sarah and the Collisons' credit they've a dead simple process that's taking out a lot of the problems affecting the current system. At Dwolla, yes, we are creating a new structure from scratch, but it doesn't mean such solutions still aren't important. Appreciate the support. You're a bad ass. Email me when you have a chance, Jordan-@-Dwolla.com
Way cool.
Brad No kidding? Good timing, too. I'm on Babywatch 2011 the next few weeks until the little one comes. Once that happens, I'll have plenty of late night free time.
Great summation. I wondered how the series would turn out, but I don't have Bloomberg TV.
Btw, I was going to copy and paste a line to tweet (linking of course back to the blog post), but you must have it blocked in your code? What gives?
Brad Point.
r.edwards Agree, especially in context to some unbelievable capital raises out there. Wow.
It's one thing to create an innovation and build feature sets on top of it, but it's an entirely other thing group iterations and label them as a startup.