It's an industry-owned initiative, i.e. all licensed banks, including the central/apex bank (pretty sure this is the Federal Reserve in American parlance?) are stakeholders. The funding comes almost entirely from these banks, and the transfers themselves are free (between personal/individual accounts, at least). I'm pretty sure the government partially reimburses the banks to soften the cost, so I suppose you could say it's also funded by government subsidy?
Some similar systems have transaction fees and run as for-profit organisations, but the fees are tiny compared to card transactions. For instance Nigeria's NIP has a maximum fee of ₦53.75 (roughly four cents), with most banks allowing you to transfer up to ₦5 million in a single transaction.
The tradie app space is ripe for deep customisation. Appaca might fill that. Each trade has specific requirements that vendors lack deep domain knowledge of.
that makes sense. Tradie space is what I have been looking into as well. I have been seeing a lot of ads from different new tradie apps these days. Everyone is trying to build an app for tradies for different purpose. I reckon it's probably a bit harder for them to adopt AI / tech. I need to have more conversations with them to better understand their workflow.
A fairer way would be requiring all excess profits be invested in hard assets like factories, infrastructure etc. capital should be forced into competition and create excess capacity.
This was one of the effects of the 90% rate for the highest tax bracket. It incentivized reinvesting money into the economy, rather than taking profits.
The web revolution is to Windows UI what vibe coding is to programming today. It brought in a massive group of people who didn't need to understand message pumps, or handles or non-blocking api calls. On top of that, it delivered incrementally more capable result each year. View source taught millions how to build modals, blurred overlay. Meanwhile, the old group of programmers were still worrying about how to protect the knowhow behind compiled languages.
I agree with the thesis of your post, but where we differ is that I think both of those were (are) bad things. Both web apps and vibe coding are causing the market to be flooded with low quality software, not only making the market worse but also giving future generations fewer examples of well-made software to look up to.
I read a story about Dreame. The founder worked in aerospace, but wanted to make a mass-produced motor with aerospace standards. So he modelled air flow using aerospace tools, built the motor to tight tolerances. Conventional vacuum motors run at 30k rpm, his runs at 100k rpm. Then he standardises on a single motor, for all his devices, robovacs, stick vacs etc, so he gets scale.
Dont be. Source: tried roborock and dream. They are both useless because you spend so much time troubleshooting it dealing with stuck issues you may as well get the cheap vac out.
Datapoint: I've used my Roborock s7 max ultra in three different households (2 houses, 1 apartment) and have had zero issues with this.
It actually was night and day compared to the $1000 equivalent roomba I had at the time. lidar is the game changer in this space, and roomba was complacent with their technology.
I've had a few issues, but they're far from useless. The issues are, e.g. a sofa has tapered legs so the end part is very low to the floor and basically invisible so the vacuum gets stuck there. I've placed a rag that stays there above the leg and nobody sees it or cares except the robot.
If hybrid seeds provide economic and material benefit then the laws should be written to prevent counterfeits, not specifically banning people from replanting.
