widely promoted banking startups are basically rat poison
using smaller banks is a fucking gamble, silicon valley bank even had some pretty big business before it collapsed
for anyone who thinks banking isn't a literal scam you need to understand 2 things
1. fractional reserve banking, basically you put 100k real money into a bank they can loan out 90k to someone who probably parks it in the same bank letting them loan out ~80, in a continuous cycle which means when you give a bank 100k they can make 250k or 500k+ in obligations to other people and all those fucking people cannot pull all their money out because you cannot withdraw 500k from a bank from only 100k in real assets.... this is why literally every single bank run has resulted in a collapse every single time.
2. compounding fee's - when virtually every transaction you use a card for there is a fee for using the card, start with $100, then 1 transaction it's $98, then $96, then $94 etc eventually $100 or any number no matter how high, even 1 trillion dollars when transferred enough times ~50 from bank account to account becomes 0...
So not only do banks take your fucking money, lend it out wildly, and essentially create money that doesn't exist, making it so it's impossible for everyone to all withdraw their money at one time, they literally have their hands in a % of transactions for basically every single retail transaction getting a % of it
rich people DO NOT TRUST banks, literally I would buy real estate and break even every fucking year vs putting 100mil in a fucking bank
first world is a joke where banks are literally OP as fuck but also can just fucking collapse because they are doing such risky shady shit with peoples money
everytime you goto a fucking bank they have like 5-12 motherfuckers there and you are either the only customer or one of a handful of customers, like how the fuck can you pay so many people hourly to just transfer peoples money to them for "free" not to mention if your parents have a 30 or even a 15-20 year loan they will probably pay almost double the fucking price of the house over the loan period
everybody knows USA doesn't have manufacturing or even the best or many industries now, our #1 service is financial services AKA bankery tier scams so you can become a beta-middle class peasant and "save" money instead of investing it to make more money like rich people do, imagine telling a rich person to fucking save money like bitch what?
fuck banks