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by andrewfromx
1217 days ago
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oh yeah I had a totally innocent willy wonka style idea of a kid atm with nice bright colors and a "fun" experience of getting money from a money machine. Eventually it could turn into a company like https://www.gohenry.com/ |
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It does not teach:
A) Not all financial custodians are equal. B) Financial Institutions can make mistakes; there are things you can do to keep them honest/accurate. C) much of safe finance involves being able to manage an intangible relationship that involves many entities D) That there are social obligations on Financial Institutions in the United States that one needs to be aware of. E) What you can do if you ever run up against any of the Financial system's many failure states, as rare as they are. F) How to tell a predatory financial service from one... Not quite as predatory... G) That even things that are specifically not money (cryptocurrency/artwork/other things), can end up turning into primitives that ultimately behave like money, and that you need to be extra cautious dealing with such things because none of the safeguards of the financial can be assumed to be there. and H) To read the fine print
Finance is one of those things we unjustifiably YOLO kids through in my opinion; and it's way more than a handful of protocols, processes, and a set of books.