The business of a community bank is taking deposits cheaply and lending at a higher rate. Both of these functions are historically local in nature, but that is changing. Community banks sell themselves on convenience and having a human-centric relationship with customers, as opposed to the driven-by-algorithms approach of the money center banks.
When “stocks only go up”, people realize the stock market is a casino with much better payouts. Gamified trading has tethered us to our phones and bank accounts.
Evaporative Cooling of talent occurs when the most high-value contributors to a community realize that the community is no longer serving their needs anymore and, therefore, leave.
Today, Facebook is seen as the prime example for the power of network effects – and yet, one wonders where Facebook would be had it not acquired Instagram back in 2012. People also seem to forget about all the other social apps which Facebook has bought and subsequently shut down over the years. Why would a company that has supposedly “won the mark... See more