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It's Getting Harder to Tell Banks from Tech Companies

bloomberg.com

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Re: It's Getting Harder to Tell Banks from Tech Companies

#101

Post by lr4444lr »

raverbashing wrote: post #54

Do they? Have they dropped "corporate" solutions that barely work, sold in golf courses to people that are not affected in the least by their decisions? Are they still using XML (or even worse, CORBA) as duct tape tying everything together? Have they dropped waterfall? Do they allow developers to have their say on architectures and solutions to use? Can they experiment with, let's say, Scala, Elixir or are they stuck…

XML gets a bad wrap. For a protocol you can easily use over RESTful APIs and define a strong schema around, plus with all of the well-optimized libraries in major programming languages and IDE support, I don't really mind working with it at all.

Re: It's Getting Harder to Tell Banks from Tech Companies

#102

Post by gumby »

debt wrote: post #42
oblio wrote: post #20

Earlier quoted context omitted.

I like to ask people what's the biggest advertising company in the world. You'd be surprised how many people don't know :)

I say the same about largest media company in the world. It's shocking that people don't know it's Facebook. And in their case not just in the world, but the largest media company in history by a very wide margin. People don't see any connection between William Randolph Hearst and Mark Zuckerberg; Facebook really has the best PR team.

> I say the same about largest media company in the world.

Indeed. I was just reading about the local broadcast rules (specifically: Sinclair broadcasting wants to buy Tribune media, and the FCC appears to be saying 'go ahead".) . Some people are concerned that this violates rules against concentration of ownership in broadcast stations.

But doesn't Facebook operate in essentially 100% of US markets? Should we even care who owns the TV broadcasts?

Re: It's Getting Harder to Tell Banks from Tech Companies

#104

Post by [deleted] »

organsnyder wrote: post #9

I work for a large healthcare system, and the "we're not a tech company" line is often heard. At many levels, I agree—we're in the business of delivering healthy outcomes to our communities, so we need to make sure that efforts across the enterprise support that—but it is often applied in ways that stifle us from delivering what we feel would be the most impactful and cost-effective solutions. I like to respond that…

[deleted]

Re: It's Getting Harder to Tell Banks from Tech Companies

#105

Post by xkjkls »

tryitnow wrote: post #44

This sounds like marketing baloney. I would bet most of that "engineering" headcount is actually just analytical headcount. not a bad thing, but it's not what we used to call engineering. This is part of an ongoing trend to describe everything as some form of "engineering." Honestly, if I'm going to Goldman for M&A - I want a human relationship. That relationship may be buttressed by research and analysis using "big…

Goldman makes about half its revenue from market execution, which is basically an entirely engineering driven business. Only about 20% of it's revenue come from the "investment banking" sort of equity and debt underwriting type of activity.

Re: It's Getting Harder to Tell Banks from Tech Companies

#106

Post by mwexler »

I work currently at one of the larger banks, and they actually like to describe themselves as "a tech company who happens to focus on financial things". It's as true as you are willing to believe it, but modern global money movement is really just tech these days, and has been so well before distributed ledger tech came along.

Now, whether any of the banks are any good as tech companies is a different question.

(some grammar fixed)

Re: It's Getting Harder to Tell Banks from Tech Companies

#107

Post by jnordwick »

joshuamorton wrote: post #99
jnordwick wrote: post #92

Earlier quoted context omitted.

That's non-director level, upper end of the vp level.

I'm not quite sure what your point is. Mine was that their bonus being > salary implied a role/level at a bank that was higher than what they likely had at Google, so a commensurate salary increase would make sense. Could you explain what you're getting at?

Just that pay is high for basically a sr engineer at the right location (close to the money).

The fact that bonus is 50+% of base is normal for those roles, more normal than faang comp. Compensation is just structured differently, so it isn't useful to use it as a measure of seniority between the two industries.

Re: It's Getting Harder to Tell Banks from Tech Companies

#108

Post by rdiddly »

oblio wrote: post #20
organsnyder wrote: post #9

I work for a large healthcare system, and the "we're not a tech company" line is often heard. At many levels, I agree—we're in the business of delivering healthy outcomes to our communities, so we need to make sure that efforts across the enterprise support that—but it is often applied in ways that stifle us from delivering what we feel would be the most impactful and cost-effective solutions. I like to respond that…

I like to ask people what's the biggest advertising company in the world. You'd be surprised how many people don't know :)

You know who else would be surprised, is 1998 Larry Page & 1998 Sergey Brin. Especially the part about hearing their company called an "advertising company," much less the largest one.
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