Listen, I’m not going to explain UBI again and it’s impact.

All I want to do today is ask a simple question—

What is the plan for the banks?

I suppose I’m focused solely on American banking, so I won’t extend this beyond that.

I saw an article today that said that JP is adjusting it’s bank to the “superrich.”

I’m not sure where that reporter has been, but that’s all high-finance banks. That’s how they work.

Side note—there has been really embarrassing reporting lately. From “Call it CEO blush” to nonsense about The Hamptons. (alongside real issues, don’t misread.) I beg of journalists to come up with new, non-misogynistic ideas. Get off your phone and think for an hour before you write fluff.

Anyway—

The “new” JP $10M structure just seems like a reporter heard that the private wealth arm raised it’s minimum.

$10M at certain banks might be the “minimum” but it doesn’t make you a serious client. And the real min is $50.

But once we start to see Corporate America shift as it will inevitably do, I wonder what happens to these legacy mental giants.

And more importantly—what the plan is.

High-level operating assumption: Clients take their money and it either goes into a central banking system, family offices, or alt back-market accounts.

But the banks themselves, do they exist to provide advisory? Or does that power also shift to individuals? I assume it shifts downstream and spreads out.

We’re seeing some signs: higher levels of smaller VC firms guiding founders. Niche M&A offices. Specialised consultants. All of these indicate that capital is being shaped by people vs institutions.

Privitisation has been growing and growing—that is the new norm. Secure deal networks, decisions made on WhatsApp and Signal. It’s all able to happen faster, which is truly the real downfall of a prestige bank.

Capital Flow Divergence

BANK CAPITAL FLOW → AI / FO CAPITAL FLOW (already in progress/occurring)

Slow approval cycles Off-hand deals (“WhatsApp/Signal Vibes”)