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Thanks to Venmo, We Now All Know How Cheap Our Friends Are

nytimes.com

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Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#31

Post by harryh »

CydeWeys wrote: post #19
zitterbewegung wrote: post #10

I see systems like Venmo being commoditized and Venmo being an acquisition target or being disruptive for large banks . My reasoning is below. I must not be a true milennial (29) .The new hip social networks don’t make sense to me or don’t work. Not only that but if this is a feature of Vennmo I’ll stay with only transferring cash to people with boring old Chase Quickpay with a bank account I don’t have to pay for wi…

Venmo was already acquired by PayPal last year. I don't think it's an acquisition target anymore.

Venmo was acquired by Braintree in 2012. Then Paypal acquired Braintree in 2013.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#32

Post by Overtonwindow »

I don't use this app and this article kind of explains why. If I go to dinner with friends, or anything, I'd rather pick up the check than worry about splitting it. The next time, they'll pickup the tab, and so forth. That's what friends do. I don't know if I'd want to go out with someone who is going to bill me for it later, or wants to use an app to split things up. For me it just makes things superficial, awkward, and distant.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#34

Post by Overtonwindow »

mabbo wrote: post #17

I think the problem here is expectations. If you went to dinner with a friend, and thought everything was covered but then later received a bill in the mail there's an aspect of unexpected demands in it. If your friend said ahead of time "hey I've got this app that will let us split the bill easily, that okay?" then you'd be expecting it and there's no social transgression. Social norms and expectations are the ficti…

You make a good point. If things were handled beforehand, such that one person says let's go out and split everything, I've got this app that will do it for us, then it takes that awkwardness off, and I think is more friendlier. It's the before-hand planning, versus the afterward billing...

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#35

Post by RayVR »

They fail to consider that venmo and other simple cash transfer applications lower the barrier to payment of items down to the penny. Time isn't free and I would be annoyed if a friend demanded I reimburse down to the penny for something in hard cash. Asking for me to type a number into an app is so easy it's petty to worry about those pennies and a waste of time. What a ridiculous article.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#38

Post by tyingq »

harryh wrote: post #4

One paragraph in I thought to myself "haven't I read this before?" A quick google later: https://qz.com/687395/venmo-is-turning-our-friends-into-pett...

That article has a funnier lead. Offering a glass of wine in your own home, then billing for it afterward. That person was probably an asshole before venmo existed.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#39

Post by sotojuan »

Overtonwindow wrote: post #32

I don't use this app and this article kind of explains why. If I go to dinner with friends, or anything, I'd rather pick up the check than worry about splitting it. The next time, they'll pickup the tab, and so forth. That's what friends do. I don't know if I'd want to go out with someone who is going to bill me for it later, or wants to use an app to split things up. For me it just makes things superficial, awkward,…

Might be a cultural thing? I have friends that have your point of view, and others where every meal out is a communal experience (everyone chips in, but everyone can eat every dish) even if the restaurant is not set up that way.

Re: Thanks to Venmo, We Now All Know How Cheap Our Friends Are

#40

Post by guiomie »

mabbo wrote: post #17

I think the problem here is expectations. If you went to dinner with a friend, and thought everything was covered but then later received a bill in the mail there's an aspect of unexpected demands in it. If your friend said ahead of time "hey I've got this app that will let us split the bill easily, that okay?" then you'd be expecting it and there's no social transgression. Social norms and expectations are the ficti…

I was shocked by the inability of restaurants (literally their policy) in California to do individual bills. I still can't understand why it's this way... The only reason I used Venmo was for that.
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