Holy shit, if I were an engineer I'd instantly quit too. I'm not taking potential legal liability (idk if that's a thing for employees, but the whole point of a legal dept is I don't need to!) when I could easily find a comparable job elsewhere. Fuck that noise.
Wasn't there a theory that every company is turning into a bank, because basically every company is doing loyalty programs, which are basically their own currencies. Think airplane companies, hotel chains, etc. For some only their loyalty program is turning them a profit, and their core business is a loss making part to support the loyalty program.
Loyalty programs are also a way to tag private data to cash transactions so they can find patterns in transactions that would otherwise not be traceable.
But I don't think loyalty programs are really acting like banks, they're primarily a marketing tactic and their purpose is to increase interaction with the business or product, not charge a service fee or interest.
Though most of these places do also have debit and credit cards, sometimes they act as an intermediary for a bank (I think the amazon credit card does that), but some are banks in their own right (president's choice financial is the bank for the loblaws grocery store chain, of bread price fixing fame).
Who are still price fixing bread, by the way. Along with the Sobey family, and the Metro chain of grocers in Québec.
Just 15 years ago I remember paying 79¢ for a loaf of whole grain bread, baked in-store. The in-store bakery no longer makes anything other than "artisan breads", that cost $5 a loaf. Pre-packaged shit that gets shipped in is $2.29.
If prices had tracked with inflation like everything else, I'd be paying $1.08.
I have worked with developers who refused to do dumb shit with credit card security because it would be a crime for them personally. Told the boss to go pound sand basically, and he did
Holy shit, if I were an engineer I'd instantly quit too. I'm not taking potential legal liability (idk if that's a thing for employees, but the whole point of a legal dept is I don't need to!) when I could easily find a comparable job elsewhere. Fuck that noise.
Also, Musk impulsively decided to turn twitter into a bank. I'm guessing the legal team resigned because their workload just tripled.
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Wasn't there a theory that every company is turning into a bank, because basically every company is doing loyalty programs, which are basically their own currencies. Think airplane companies, hotel chains, etc. For some only their loyalty program is turning them a profit, and their core business is a loss making part to support the loyalty program.
Loyalty programs are also a way to tag private data to cash transactions so they can find patterns in transactions that would otherwise not be traceable.
But I don't think loyalty programs are really acting like banks, they're primarily a marketing tactic and their purpose is to increase interaction with the business or product, not charge a service fee or interest.
Though most of these places do also have debit and credit cards, sometimes they act as an intermediary for a bank (I think the amazon credit card does that), but some are banks in their own right (president's choice financial is the bank for the loblaws grocery store chain, of bread price fixing fame).
Who are still price fixing bread, by the way. Along with the Sobey family, and the Metro chain of grocers in Québec.
Just 15 years ago I remember paying 79¢ for a loaf of whole grain bread, baked in-store. The in-store bakery no longer makes anything other than "artisan breads", that cost $5 a loaf. Pre-packaged shit that gets shipped in is $2.29.
If prices had tracked with inflation like everything else, I'd be paying $1.08.
deleted by creator
they got rid of their compliance and security teams before becoming too. great idea
Wait what? I haven't heard about this?
He's in important meetings just riffing, it's so funny: https://techcrunch.com/2022/11/09/elon-musk-details-his-vision-for-a-twitter-payments-system/
I have worked with developers who refused to do dumb shit with credit card security because it would be a crime for them personally. Told the boss to go pound sand basically, and he did