The Price of Everything

I used to be a banker.  Now, I make software for banks.  This weblog covers both worlds, banking and software. 

Software, good software, the kind of software that makes you stronger at your job, is not easy to build.  The software industry has wasted billions, accidentally shot a spacecraft into the surface of Mars, and killed patients with lethal doses of radiation.  And then there’s Windows Vista (currently at 5 years and $6 BN in development costs).

Banking is well past the bad old days of the 1980s S&L crisis.  There were 534 bank failures in 1989; these days you can count the year’s failures on one hand.  Plus, we bankers are no longer famous for supplying credit cards to US senators.  But, banking is still more bureaucratic than it could be.  And bankers know it.

Finance and software are the twin foundations of a modern economy.  America thrives in both.  Google, swaptions, RSS feeds, FICO scores - the level of innovation in either industry is staggering. 

I’m wowed by it all.  But I’ll try to show some of the hidden flaws in each industry as well.  The mistakes are almost as valuable as the successes.

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