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‘Silicon Valley is coming’ warns JP Morgan CEO

Silicon Valley is coming warns JP Morgan CEO America s Markets


In his annual letter to shareholders, JP Morgan CEO Jamie Dimon warns of growing competition for Wall Street in the form of Silicon Valley start-ups.

“Silicon Valley is coming,” Dimon said in the letter, which mentions mobile payments, cyber currency and peer-to-peer lending.

“There are hundreds of start-ups with a lot of brains and money working on various alternatives to traditional banking,” the CEO warned.

Stashed in: Silicon Valley!, economics

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Oh please yes. Someone disrupt the banking industry. Please!

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