Yeah, Mercury's going to have to up their game if they want to stay relevant. I remember my disappointment when I found out I had to park 250k in a 0-yield checking account to qualify for the 1.5% yield on a savings account that can only do something like 5 transfers a month, making it a complete non-starter for running a real business. It felt like they're playing all the same old tricks on us as the incumbent banks, just with a prettier UI.
This new Brex account with 0 fees and 1.6% yield on the entire deposit with no transaction limits feels like a breath of fresh air in comparison.
I wouldn't be so sure, there was the rather plausible speculation that the 3% from Robinhood was a loss leader that wasn't meant to last long, in order to drum up hype for the launch. They could very well have been planning to earn the fed rate and fronting the difference for a period of time and then bait & switching (and/or introducing some premium plan to make up the difference).
Also, money market funds, which are generally considered cash-equivalents, don't usually yield north 3% either afaik, and I can imagine putting customers deposits in riskier higher yielding investments could have also have ran foul of banking regulations.
Brex is using neither of these strategies here as far as I can tell, and they're providing a decent amount of transparency into how the funds are going to be handled, so it should be fairly easy for regulators to review. If regulators do take issue with their strategy, I suspect we'll probably hear about it in the news soon enough. In the mean time, it's still an early access product, so it's not like we can use it immediately anyways (I'll definitely be signing up though).
From the first sentence under the "What are securities" section:
> SIPC protects stocks, bonds, Treasury securities, certificates of deposit, mutual funds, money market mutual funds and certain other investments as "securities."
Surely I can't be the only one irked by the fact that they're bringing the concept of "copies" and "borrowing" to what are just bytes sitting on hard drives that can be copied and transmitted at 0 marginal cost?
I agree that it's a better user experience than the non-digital alternative, but I'd like to see digital books at libraries be available for free to anyone who wants it at any time, without any arbitrary restrictions whatsoever.
> SIPC protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm.
It sounds like SIPC protects against loss of cash for the purpose of purchasing securities _and_ the loss of the securities themselves. So in this case it sounds like by sweeping customers' cash into a money market fund, SIPC protection would apply to the money market fund investment.
I think Robinhood's issue might have been that they didn't actually do any securities trading and tried to just rely on SIPC insurance for customers' cash that's just sitting around.
Regardless of if my interpretation is correct, I'd be _really_ surprised if they just somehow ignored the whole Robinhood fiasco and managed to make the exact same mistake on the regulatory side.
From the deafening silence I'm going to take the less charitable interpretation that it's meant to enable Cloudflare to essentially sell Warp users' IPs to Cloudflare customers as an added perk.
I wished on more than 1 occasion that I could just use one of my ZeroTier nodes in other locations as an exit node and tunnel traffic through it though.
I think that might already be possible but it'd be nice if the configuration was abstracted away behind some simple interface.
That'd allow it to replace Wireguard and Mullvad for me as I mostly use it as a means to bypass georestrictions.
Most successful companies do both. Listening to your users is of course important, but it can't be a wholesale replacement for data driven aggregate behavior analysis because people have their own biases can forget things (and sometimes lie) and individual feedback can't be easily generalized to your entire population of users past a certain scale.
> forgetting the kind of person who is techie enough to use RSS feeds is probably techie enough to turn off telemetry
More like they have no choice but to ignore them because these are users who explicitly chose to be ignored.
If you want your usage patterns to affect product decisions in a product you use, then don't disable telemetry for that product. You can't have it both ways.
> I think it's best to change your situation so that the right choice is the easiest to make.
Lowering the activation energy required to do cardio by getting my own treadmill in the living room really helped me get into the habit of doing cardio more regularly.
Now instead of paying every month for a gym membership I rarely used, I end up doing a good 3-4 hours of light cardio every week, opportunistically, because it's so easy to get started, and I can play music and watch shows while exercising without worrying about disturbing others, making it a much more enjoyable experience overall.
This new Brex account with 0 fees and 1.6% yield on the entire deposit with no transaction limits feels like a breath of fresh air in comparison.