I Thought He Came With You is Robert Ellison’s blog about software, marketing, politics, photography and time lapse.

Instead of punishing bankers why not disrupt them?

Updated on Thursday, November 12, 2015

Instead of punishing bankers why not disrupt them?

I'm not the biggest fan of banks. Not content with crashing the world economy my own bank took the time to personally defraud me. The EU is currently planning to cap banker bonuses and this is just nuts.

It feels like an attack on the UK, where the lions share of our economy is banking and people coming to see the Queen. 

It feels anti-capitalist - why bankers? Why not footballers or movie stars or orthodontists? 

But mostly it feels like the wrong form of revenge, too easy to circumvent and ultimately likely to be toothless. Banks may say they have to pay outlandish bonuses to attract the best talent, but really it means the industry is ripe for innovation. Regulators should figure out and then remove barriers to entry (and throw up barriers to unfair competition, and hold competitions to encourage innovation) so that startups and software can eat the financial services sector.

Too big to fail all at once, but not too big to be disrupted into irrelevance. 

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