"I welcome any feedback and comments on the above and would love to discuss further with anyone interested so please reach out!" Thanks for that opportunity.
I don’t think Union, the super PFM app, for their business model, should or will be partnering with any provider. That’s a wrong assumption imho. Consequently, in Union, level1, 2 & 3 in Union also don’t exist.
And about Alex Johnson who says
Self-Driving Money is So Hard Hint: it's not a technology problem.
I think it actually is a technology problem. What else could it be? And as a matter of fact, all parts needed to build Union appear to already exist today. It’s just currently all the pieces form a giant disorder of a systemic puzzle.
By removing some assumptions and reordering the pieces, it’s possible to build Union.
Ultimately his conclusion is incorrect since based on another wrong assumption :
"it means cannibalizing your existing business".
Self driving is cool but it’s like the last 1% of the work that will need to be done. We still have to build the first 99%.
It’s like auto parking for cars. For the 1st gen you had to use the break pedal to control the speed or you had to change gears for it. Not anymore on the 2nd gen. So from a technological point of view, the giant leap wasn’t from gen1 to gen2, but from gen0 to gen1. Once gen1 was built, gen2 wasn’t really that hard.
It’s the same thing for Union. We haven’t built gen1 yet. But when we do, Union gen1 will actually be more life changing (literally) than Union gen2 aka level5* will.
It’s not the self driving money itself that will give us the wow factor . It’s the little features to get there that will. Aka Union gen1 features.
So imo, what’s currently missing is a PFM that tells us how to drive. Then one day, it will drive for us.
And I don’t think the value graph of Alex Johnson can be applied to self driving money. The self driving level5 has a lot of value for the user and actually probably even more positive externalities we haven’t even scratched yet.
But the way I see it for the money is Union gen1 is groundbreaking, gen2 is cool because it works for me. You won’t get more raw value from Union when gen2 is shipped. You will "just" loose less time since you won’t be driving.
"Enticing suppliers of financial services to the Union platform may also be challenging." Union gen1 won’t need their agreement to have them on its platform. But Union gen2 will have to.
* If Union is built providers agnostic from the ground up, there aren’t 5levels to get to self-driving money.
What’s your thoughts on this ? I too welcome any feedback and comments on the above !
"I welcome any feedback and comments on the above and would love to discuss further with anyone interested so please reach out!" Thanks for that opportunity.
I don’t think Union, the super PFM app, for their business model, should or will be partnering with any provider. That’s a wrong assumption imho. Consequently, in Union, level1, 2 & 3 in Union also don’t exist.
And about Alex Johnson who says
Self-Driving Money is So Hard Hint: it's not a technology problem.
I think it actually is a technology problem. What else could it be? And as a matter of fact, all parts needed to build Union appear to already exist today. It’s just currently all the pieces form a giant disorder of a systemic puzzle.
By removing some assumptions and reordering the pieces, it’s possible to build Union.
Ultimately his conclusion is incorrect since based on another wrong assumption :
"it means cannibalizing your existing business".
Self driving is cool but it’s like the last 1% of the work that will need to be done. We still have to build the first 99%.
It’s like auto parking for cars. For the 1st gen you had to use the break pedal to control the speed or you had to change gears for it. Not anymore on the 2nd gen. So from a technological point of view, the giant leap wasn’t from gen1 to gen2, but from gen0 to gen1. Once gen1 was built, gen2 wasn’t really that hard.
It’s the same thing for Union. We haven’t built gen1 yet. But when we do, Union gen1 will actually be more life changing (literally) than Union gen2 aka level5* will.
It’s not the self driving money itself that will give us the wow factor . It’s the little features to get there that will. Aka Union gen1 features.
So imo, what’s currently missing is a PFM that tells us how to drive. Then one day, it will drive for us.
And I don’t think the value graph of Alex Johnson can be applied to self driving money. The self driving level5 has a lot of value for the user and actually probably even more positive externalities we haven’t even scratched yet.
But the way I see it for the money is Union gen1 is groundbreaking, gen2 is cool because it works for me. You won’t get more raw value from Union when gen2 is shipped. You will "just" loose less time since you won’t be driving.
"Enticing suppliers of financial services to the Union platform may also be challenging." Union gen1 won’t need their agreement to have them on its platform. But Union gen2 will have to.
* If Union is built providers agnostic from the ground up, there aren’t 5levels to get to self-driving money.
What’s your thoughts on this ? I too welcome any feedback and comments on the above !