Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
I don't hear this type of criticism for Personal Capital or Mint, both of which collect credentials to catalog transactions.
Anyone with a six-figure sale is nearly certain to end up owing more than they withhold (assuming you sell, which you probably should). If a company hasn't IPO'ed, an 83(b) election may also make sense.
IMO an 83b election only makes sense if you have negligible exercise costs. Otherwise, it's a lot of risk to take on an exit that may never profitably happen.
Eh, it generally can make sense if you can get QSBS, as that is so favorable.
All said, the better companies offer partial recourse loans to early exercise.
Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
I don't hear this type of criticism for Personal Capital or Mint, both of which collect credentials to catalog transactions.
HNers have been launching this criticism at Mint at least since I signed up for this website.
Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
Every time Plaid is mentioned on HN, people want to hate. My take is: don't use it if you're scared ? A few of my friends were talking about Plaid the other day, and I told them I like the company/product, but "many people on HN hate it." They were perplexed and when I explained it was because you guys were nervous about entering your bank password into a third-party (yet reputable) company's interface (that's encryp…
The point is not, I think, that Plaid is sketchy but that the banking infrastructure is so poor that you can build a billion dollar business based on screen scraping. There is a clear and obvious need for better API integration to banks but the banks themselves have been incredibly slow to provide this.
The IPO is a taxable event. You’re taxed at the IPO price, and your company should withhold shares based on that price. After whatever lockup you have some fraction of shares remaining. When you sell those and if the price is greater than the IPO price then you have capital gains on whatever shares you still hold. You still owe tax from the IPO. My point is the company will withhold shares from you, but you might nee…
The IPO is not a taxable event.
Parent is presumably referring to RSU releases at IPO which are taxable. You are correct that options and shares are unaffected.
Plaid's product is absolutely absurd. Yes, please train your users to type their username and passwords into third party sites because they're given a legitimate looking sign-in box. US Banking infrastructure is so hopelessly bad that this is hack of a business is considered legitimate fin-tech. My wallet was stolen and before I realized it was gone and could cancel my CCs some dude made like six obviously fraudulent…
Every time Plaid is mentioned on HN, people want to hate. My take is: don't use it if you're scared ? A few of my friends were talking about Plaid the other day, and I told them I like the company/product, but "many people on HN hate it." They were perplexed and when I explained it was because you guys were nervous about entering your bank password into a third-party (yet reputable) company's interface (that's encryp…
It shouldn't need your password. Better systems are possible that grant various forms of access without effectively giving them 'root', and such systems preserve your own protections.
The way Plaid works, I'm surprised that they hadn't already been shut down for breaking banks' TOS. It exposes the banks to so much liability for a product that's not even theirs.
Worst is their suggestions to disable 2FA! I twitted to them about it, and they seem to have removed it after that!
pretty sure this is false, all my accounts are 2FA, and connected to a few different account aggregators (mint, personalcapital, etc) which i am prettty sure all use Plaid. Handles it fine.
Mint does not use Plaid, they have an in-house integrations system.
The way Plaid works, I'm surprised that they hadn't already been shut down for breaking banks' TOS. It exposes the banks to so much liability for a product that's not even theirs.
Some banks have tried, but Plaid has a great legal team and has argued with the move towards open banking in the EU that customers have a right to their data. Will be interesting to see where this goes.
I’m excited to see Australian pushing through open banking APIs, reusing most of the UK/EU spec... but the implementation keeps getting pushed back and back and back. Mid 2020 now for initial roll out it sounds like... so for now I’ll stick with Basiq [0] as it’s Australian focused and free for my particular use case at least. Unless others have some other suggestions? I need to connect to ING Direct