The fundamental problem with banks is what it's always been: they're in the business of banking, and banking, whether plain vanilla or incredibly sophisticated, is inherently risky.
James SurowieckiAddictive behavior is kind of the inverse of procrastination: procrastination is about not being able to do what you want to do, addiction about not being able to not do what you don't want to do (drink, use drugs, etc.)
James SurowieckiThe ban on sports betting does exactly what Prohibition did. It makes criminals rich.
James SurowieckiFlexible supply chains are great for multinationals and consumers. But they erode already thin profit margins in developing-world factories and foster a pell-mell work environment in which getting the order out the door is the only thing that matters.
James Surowiecki