Earlier quoted context omitted.
I've never heard of it except as an obscure Paypal competitor. And, it turns out it's essentially the same service as Paypal and is even owned by Paypal, since 2014. I agree that services like this only serve to fill gaps in antiquated banking systems. From what I understand, in Australia, for instance, people can send money easily for free between bank accounts and do so routinely without 3rd party services - includ…
I remember checks from the 80s, my mum/dad used to have them. I never owned a check book.
Thanks to Venmo, We Now All Know How Cheap Our Friends Are
351–360 of 387 posts
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#352Young millennial male, every single person I know uses Venmo. IMO this article largely misses the point of the app. It's replaced cash/checks is all, it's not some huge social upheaval in the way we use money that needs to be analyzed. In my experience it's rarely used for splitting bills for dinner or picking up bar tabs (I can't remember the last time I went somewhere that wasn't able to split the bill on their end…
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#353Earlier quoted context omitted.
A lot of restaurants are won't split bills too many ways because it takes time and impacts table turnover. When you have a line out the door, turnover matters. Back in Slovenia bill splitting doesn't exist. To me it's a completely American thing. The best they can do in Slovenia is charge everyone individually for their items, but that's not really bill splitting.
>"A lot of restaurants are won't split bills too many ways because it takes time and impacts table turnover." How much time time does it really take? Let's compare it to a single check with with cash as the form of payment. Some diner at the table needs to go through the bill and and collect the money or else the bill gets passed around and then everyone antes up their portion, there always come confusion about what…
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#354Earlier quoted context omitted.
>"A lot of restaurants are won't split bills too many ways because it takes time and impacts table turnover." How much time time does it really take? Let's compare it to a single check with with cash as the form of payment. Some diner at the table needs to go through the bill and and collect the money or else the bill gets passed around and then everyone antes up their portion, there always come confusion about what…
Yeah people don't do that. The way splitting works in the US is that you split evenly. So 1 person pays then says "Everyone venmo me $X" and the party leaves.
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#355Earlier quoted context omitted.
Sigh. This reminds me of an ex-roommate. So I worked at a factory and he was a notary or some such function connected with real estate, working from home. One day I was running late for work, which was maybe fifteen minutes away by bicycle, and asked if he didn't mind giving me a lift. About halfway there he mentioned casually, "Oh, just so you know, I'll be billing you at my normal rate ($60/hr) for this ride." Than…
That's a weird comment on his part, but I think there is often a large mismatch between the cost that a carless person assigns to "bumming a ride" and the cost that the car owner assigns to that. If you are not a car owner, you may not realize how much of a pain in the ass it is to stop whatever you are doing and play taxi.
"I can't, I'm busy right now."
That's what people say when someone asks them to do something they don't want to, or where the cost outweighs the benefit.
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#356Earlier quoted context omitted.
Venmo significantly predates Square Cash, and once you get used to using a particular app for a task switching is a burden, especially for something like this with a powerful network effect.
As far as I remember, Paypal significantly predates Venmo. What happened there?
It didn't really matter that those mostly happened to people moving 5-6 figures, most of the millenials I know actively avoid paypal as a result.
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#357This seems to be a generational and geographical gap. Speaking parochially, among relatively well-off 40-ish Australians acting like this would mark you as some kind of cheapskate space alien. I remember being similarly surprised at the 'down to the last penny' bill-splitting when I first got to the US, but, as a lot of people remark on in other threads, many of the social gatherings weren't really very long term (e.…
The same is true in the US. Note the ages and geographic locations of the people mentioned in this article.
Among well-off middle-aged (40+) Americans, in my experience it's more typical for people to compete to pay the ENTIRE bill, every single time, rather than attempting to share. Generally it's bad form to seem like you're competing to pay the bill, but very socially desirable to be known as someone who will pay the bill (and thus must have the money to do so).
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#358Earlier quoted context omitted.
For our generation, this pettiness goes the other way, too. I will literally try to buy lunch/coffee/dinner for someone, and after I've gone home, they've sent an unsolicited 'repayment' to me by Venmo. And on the other hand, it's difficult to "split your case of beer" with someone -- people are afraid to partake because they're worried you'll bill them afterwards, and they can't afford the $3 in this month's budget.
Wow, this sounds horrible. The day my friends think I'll bill them for splitting a case of beer is the day I've failed as a friend.
If someone grabs a tab and sends me a Venmo bill, I'll happily send them their money. I would have rather grabbed the tab the next time. I won't be doing both.
(And vis a versa - If I say "I've got the tab" and the person sent me money, I'd be much less likely to invite them out in the future. I'd rather they just invited me out and grabbed a round.)
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#359>"It’s making people less generous and chivalrous,” Ms. Pennoyer said. “It used to be you’d go to a restaurant, and you’d put down your credit cards and split it 50-50, even if one person had steak and one had chicken. But now people pay exactly to the cent." Spoken like the person who always orders steak. I don't drink, so I'm always irritated when I go out to dinner with a bunch of people and someone says "let's ju…
I don't drink, and rarely have the most expensive entree, and hate it when people try to figure out the exact perfect split of a check. It somehow always takes longer than it should, if we're all friends here making roughly the same amount, let's just split it evenly. Dining out with friends isn't solely about turning dollars into calories.
If you go out often (2+ every one to two weeks), don't drink alcohol ($10+ per drink in NYC/SF, prob even $15+), and you don't eat meat (+15% I bet on average for a dish), and don't get dessert ($10+), why on earth should you be putting in an extra $20 to $50 more per meal? Why would I accept that from someone I consider a friend, or a guest?
Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are
#360I had never even heard of this app. Yet it seems to be for people in my generation (25). I'm really happy that this is not something that happens in my social circles. Could be a cultural thing. Most of my social circles involve Latin American people, which is quite a mindset difference from the standard European / American mindset. Though, even with my European friends this does not happen. I don't mind having paid…