What Big Banks Say About Being ‘Screwed’ By Technological Change — Data Sheet

Adam Dell, the head of product for the Goldman Sachs consumer bank Marcus, delivered a zinger to the Brainstorm Finance audience in Montauk, N.Y., Thursday afternoon. “There are only two kinds of banks,” he said. “There are banks that are screwed. And banks that don’t know they are screwed.” Dell can be smug because his […]

Facebook’s Libra Cryptocurrency and Its Generational Divide — Data Sheet

Facebook’s Libra announcement notwithstanding, a generational divide–attributed more to commercial interests than age–remains between Team Blockchain/Cryptocurrencies and Team Traditional Finance. Over and over at Fortune‘s inaugural Brainstorm Finance conference in Montauk, N.Y., Wednesday the chasm was clear. One side believes nearly religiously in a future that is nifty but has demonstrated next to zero utility. […]