Like in theory, someone who closes an account $2.50 in the negative does very little damage to the bank directly. The $2.50 is a small fraction of the annual overhead of the bank account.
Yet these behaviors are highly correlative of unprofitable checking customers. The entire checking account model seems to be based on whales that return the bulk of the profits. If you sneeze wrong, your statistically 10x less likely to ever become that whale.
From a profit maximizing POV, it totally makes sense for banks to do this. But from a "banks are a basic utility" point of view, it doesn't seem to make sense.
A banker is nothing more than a fallible human. Why record in my inner monologue they’re to be seen as more than that?
Prior to open discourse online, public relations teams did a stellar job convincing people financiers are special. I’ve been in the room with people that attend Davos. They mock and ridicule the public as they decide who is worth what to their bottom line. They’re uniqueness is a hallucination.
Contemporary society is leveraging well understood propaganda techniques to take advantage of the same biological quirk religion stumbled upon by accident.
One person is one person. Not some figurative thought leader we must kowtow to.
I guess this is the beginning of the tech washout. clings to large tech company job
EDIT: 33% layoff today
It will be 12-18 months at least before we can tell if a long legged tech washout is upon us.