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One more reason the Thiel mannequin merely is mindless for retail finance is that it’s structurally unimaginable to construct the sort of “moat” that may, on the very least, maintain a crappy enterprise like Uber limping alongside. An enormous ingredient of finance, definitely for retail depositors but in addition extra usually, is that you really want your deposits to be as liquid as doable. To draw deposits within the first place, clients should be satisfied it will likely be straightforward to withdraw … and doubtlessly deposit their cash elsewhere. This makes banking a basically very, very robust enterprise to monopolize in even a touch free market.
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