Reading about the regulatory overhead, marketing challenges, and attempting to be Dangerous Professionals while one only has 40 people to do it with (most of whom, numerically, are *not* Dangerous Professionals but are regulated as if they were), I felt like "Maybe still do SaaS"
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Anyhow: https://www.amazon.com/Most-Never-Want-Have-Again/dp/1481867954 … Two thumbs up. Swashbuckling startup story with a heavy helping of career advice (of lets say limited utility to the modal person following me); quite a bit of behind-the-scenes color which was fascinating to me. The FDIC orientation a hoot.
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I had a mental model for the FDIC as "Hmm, competent regulator, probably tries to put the fear of god into new bankers" but they actually summoned all the directors and investors to a room and asked "Why do you think we're here?", got answers, then said "Oh no, none of that."
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"We are actually here because OUR MISSION IS TO PROTECT DEPOSITORS and you have a business plan for investors and directors BUT WE CARE ABOUT DEPOSITORS and when you are writing your operations manual about TAKING DEPOSITS and COLLECTING DEPOSITS and STORING DEPOSITS remember it"
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"Because IF YOU #(%)%() WITH THE DEPOSITS WE CAN AND WILL END YOU. This is your first and only warning." (Slightly paraphrased.)
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One person's "arresting" is another person's "boring beyond all human comprehension"

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“If you mess with DEPOSITORS, we will bore you beyond all human comprehension!”
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I know two ppl who community banks and this is my general impression as well. One is a billionaire
but the other one is a millionaire but not insane wealthy by some standards -
My impression is it’s a cool side thing to own that they don’t really think that much about being not that big compared to their original businesses
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What book is that?
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You got in too quick :) Posted in response to his original tweet after you replied.https://twitter.com/patio11/status/1234672305894084610 …
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