Absolutely. It was an excellent system a hundred years ago.
They failed to expand the postal service into telecommunications between 1890 and 1940, leading to AT&T’s monopoly on the phone system until 1982. They failed to expand their money transfer system into consumer-oriented electronic banking services in the 1990s, leaving Visa and Mastercard with a stranglehold on payment processing. We’ll have to break them apart soon.
Absolutely. It was an excellent system a hundred years ago.
They failed to expand the postal service into telecommunications between 1890 and 1940, leading to AT&T’s monopoly on the phone system until 1982. They failed to expand their money transfer system into consumer-oriented electronic banking services in the 1990s, leaving Visa and Mastercard with a stranglehold on payment processing. We’ll have to break them apart soon.