Eco Profile picture
22 Jun, 4 tweets, 1 min read
Before Uber, the personal transportation industry was broken.

But the system served people well *enough* that no one knew to create anything better.
Today, 11 years after Travis Kalanick and Garrett Camp founded Uber, we can barely imagine life without it.

We're doing something similar with Eco.
The personal payment industry is broken.

But most people don't know it.

Why? Because the system seems to work well enough.

And yet most people don't know what it feels like to really control their money for the first time.
Eco is taking the first step towards empowering people to take control of their finances.

How?

By building an experience of ownership — a place where you can truly own your money!

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More from @eco

23 Jun
If you've been following Eco for a while, you know that the way our money moves is, in a word, broken.

But what about new tech like Zelle? Neobanks? Or other fintech apps?

Don't they solve the problem?

Nope.

We'll explain below:
Let's talk about Zelle.

It's a group of the biggest banks sharing "risk" info with each other.

For each transaction, they agree on whether it's "risky" or not.

Not risky? They credit/debit the account instantly.

But they still use the inefficient ACH system to settle accounts
Why does this matter?

B/c with Zelle, money isn't actually moving right away + banks still make a risk decision.

They don't let you do what YOU want with your money.

Zelle also has a weekly limit on spending and can arbitrarily reject your transaction.
Read 6 tweets

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