> Thus BancList (spelling absolutely intentional, because even the K is regulated and I am absolutely not joking about that fact). No, he's not joking. Even the font size is regulated. I ran into that as an employee of a commodities trader. I'm not sure if the choice of font is regulated but it wouldn't be surprising.
“Banclist.com is probably the most lucrative direct messaging platform”
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Re: “Banclist.com is probably the most lucrative direct messaging platform”
#12> Thus BancList (spelling absolutely intentional, because even the K is regulated and I am absolutely not joking about that fact). No, he's not joking. Even the font size is regulated. I ran into that as an employee of a commodities trader. I'm not sure if the choice of font is regulated but it wouldn't be surprising.
Would you mind going into more detail? What about the K is regulated? By whom?
"...in the United States, the commerce departments of state governments generally prohibit or restrict the use of certain words in the names of corporations unless those corporations are legitimate chartered banks. For example, words prohibited by the state of Louisiana include bank, banker, banking, savings, safe deposit, trust, trustee, and credit union" [1].
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#13Are there any effective strategies for searching out profitable parasitic niches like this? Looking around the corners of big heavily regulated industries? Healthcare, real estate, finance?
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#14It actually was a little difficult to figure out what this business is about from their website, but their LinkedIn is comprehensive enough: “Overview Non-publicly held banks are facing increasing risks when they maintain a private list of their shareholders. Sharing unpublished information about the bank’s stock with a few shareholders exposes the bank, its management and directors to potentially serious liability.…
Why banks specifically? Doesn't every private company with multiple shareholders have the same problem? Or is the legal situation for a bank different?
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#15This is an example of what happens when a field is over-regulated.
You have these obtuse solutions working around a problem that is only hard because of lawyers and 500 regulations to "protect investors".
People were able to hack together exchanges for crypto-coins. The only thing that stands in the way of doing this for private stock/tiny companies is excessive regulation. I'm not saying we want the whole crypto experience of exchanges blowing up overnight, but what we have now is clearly not right either.
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#16> Thus BancList (spelling absolutely intentional, because even the K is regulated and I am absolutely not joking about that fact). No, he's not joking. Even the font size is regulated. I ran into that as an employee of a commodities trader. I'm not sure if the choice of font is regulated but it wouldn't be surprising.
When I worked on a site for mutual funds years ago, we couldn't use green-color text because it could be considered as implying that the person reading it would make money.
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#17Re: “Banclist.com is probably the most lucrative direct messaging platform”
#18Earlier quoted context omitted.
Would you mind going into more detail? What about the K is regulated? By whom?
"...in the United States, the commerce departments of state governments generally prohibit or restrict the use of certain words in the names of corporations unless those corporations are legitimate chartered banks. For example, words prohibited by the state of Louisiana include bank, banker, banking, savings, safe deposit, trust, trustee, and credit union" [1]. [1]: https://en.wikipedia.org/wiki/Banq_(term)
Thanks for the info! Seems like a bit of a silly regulation given that major banks themselves are able to circumvent it in order to shed liability.
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#19That website looks like an affiliate marketing cash grab site from the early 2000s. I know that I should probably do some proper research but it was so off-putting that I'm just going to give up right away and call it a waste of time and/or a scam.
well what happens is this site gets recommended between banks by word of mouth. When Joe Little Bank calls up Mary Tiny Union and tells her about this new website, "which looks janky but trust me, it's legit", she'll probably go sign up regardless.
Re: “Banclist.com is probably the most lucrative direct messaging platform”
#20Are there any effective strategies for searching out profitable parasitic niches like this? Looking around the corners of big heavily regulated industries? Healthcare, real estate, finance?
I am not in this space, but my guess would be this sort of company was started by people with an intimate knowledge of the specific space & what they can & can't do, so as a strategy, you're probably best off working in said industry and finding that niche that needs a solution.