Today’s bits: A paradigm shift

Money & Investing

“paradigm shift” is taking place in financial technology
According to Morgan Stanley, only a “handful” of robo-advice startups will survive.

A millionaire former BlackRock exec slammed McDonald’s
over its treatment of workers

Thousands are flocking to a credit card
One that helps people repair their bad FICO scores and avoid payday loans.

Baby boomers
are making it harder for millennials to buy homes

Would you invest in a bond that’s backed by an online lender?
Investors in bonds backed by the loans these online platforms helped broker welcomed the moves. Last year, as skepticism mounted, these investors pulled back from purchasing their loans. But since April, more than $2 billion in securities backed by loans made by LendingClub, Prosper Marketplace Inc. and their peers have either been sold or are being prepared for an imminent sale.

Only 8% of borrowers income was checked at one lender:

Where I Disagree With Warren Buffett
I’m most definitely a Warren Buffett fan. I love it that arguably the most successful active investor alive recommends index funds, long holding periods and minimizing fees. And I love that Buffett walks his talk about being greedy when others are fearful. Allan Roth has his issues with Warren.

Payday loans are dying. Problem solved? Not quite
Consumer spending on payday loans, both storefront and online, has fallen by a third since 2012 to $6.1 billion. Many payday lenders have gone out of business. Those lenders that remain have a new offering that keeps them in business and regulators at bay — payday installment loans.

Offers

Pre-order Amazon Echo Show
Echo Show brings you everything you love about Alexa, and now she can show you things. Watch video flash briefings and YouTube, see music lyrics, security cameras, photos, weather forecasts, to-do and shopping lists, and more. All hands-free—just ask.

All-New Fire 7 Tablet with Alexa
Buy three, save 20%

Bose SoundLink Revolve Bluetooth Speaker
Deep, loud and immersive sound, with True 360-degree coverage

Amazon Warehouse Deals
Great deals on open-box & pre-owned products

Retirement

Do Not Drain Your 401(k), or Let a Former Employer Do It
I don’t want to be that guy who tells you never to take the vacation or to skip the avocado toast each day.

Misc

Instagram and Snapchat were ranked the worst apps for children’s mental health
Anxiety, depression, and loneliness were all cited as negative impacts.

Skinny bundles in the $10 to $20 could be on the horizon
These bundles won’t have any live sports though

Wall Street predicts: iPhone 8 will start at $870 and could cost as much as $1,070
Currently, Apple charges $649 or more for an iPhone 7, and the iPhone 7 Plus costs $769 and up.

Now that’s an expensive pizza
Someone in 2010 bought 2 pizzas with 10,000 bitcoins — which today would be worth $20 million

Chart of the Day

Infographic: Smartphones Aren't as Ubiquitous as You Think | Statista You will find more statistics at Statista

 

image credit: C Slack

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