A Quote by Peter Thiel
The big challenge with Internet financial services has been that it's very difficult to get large numbers of customers to sign up for your service.
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We want to be able to service our customers more, like an Internet service. Our goal is to run one of the largest Internet services that enables people to use Windows on an everyday basis.
Financial services have always been about trust. Perhaps the biggest barrier to entry has been getting new customers to trust an unknown brand or service, and that's particularly true with digital disruptors who lack a physical presence on the local high street.
If you can't build a relationship with your customers, you're in big trouble. If you can remember the numbers from the reports and spreadsheets you spent hours poring over in your office, but you can't picture the faces of your customers - you're in big trouble.
The challenge will be to get the big corporate customers giving them their business, but it might be difficult in reality.
I have been an organizer and then activist and a legislator, all of that. But then there's this big gap after I advanced in Congress and ended up as the ranking member of financial services committee. It took me into the financial services issues and Wall Street and Dodd Frank. And it took me away from the things that I did years ago.
In the Internet world, both ends essentially pay for access to the Internet system, and so the providers of access get compensated by the users at each end. My big concern is that suddenly access providers want to step in the middle and create a toll road to limit customers' ability to get access to services of their choice even though they have paid for access to the network in the first place.
'Bloomberg's, you know, for people who don't use the service, provides through the Internet - through specialized computers - information about the financial world. It's a very large data base. I think they have on the order of a billion dollars or more a year in revenue.
Customers are still setting the technology agenda. Not just you, our customers, but your customers as well. What more and more are telling you is what kind of services they need, and how and when they want those services delivered to them. And in fact, that is just the beginning.
Why will I not give free service to my customers to get them used to mobile Internet, and to get every small town and village to use it? Everybody does promotions. In the internet world, free is normal.
This merger is a logical next step that creates substantial value for customers and stockholders of both AT&T and BellSouth. It will benefit customers through new services and expanded service capabilities.
Softbank has always been a service firm, and with the Internet, services became the center of the technology industry.
A shift toward access and service would deepen the big-box retailer's relationship to customers and win their loyalty. A service focus would bring more rewarding, frequent, and lasting contact with grateful customers.
I'm a believer. I'm one of the few standing before you today from a large financial services company that has not given up on digital currencies.
Because of the Internet's open platform, entrepreneurs have started small businesses, innovators have created online services, and webcasters have produced a diversity of news-information sources. We must make sure that winners and losers are decided by the marketplace and not your Internet service provider.
One of the big myths about people growing up is that they are "digital natives;" that just because they've been raised with the Internet - that you're very adept at using the app on your phone - it doesn't mean you have any idea about how the Internet actually works.
It's a very, very tough market.
So unless you do a really good job, you buy the right products from the manufacturers, you service the customer, they keep coming back, they bring their friends in, it's all about numbers, numbers, numbers.
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