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The man who runs America's biggest bank can't stop worrying about tech startups.
In his annual letter to shareholders this week, JP Morgan CEO Jamie Dimon warned investors and those in the banking industry that "Silicon Valley is coming."
"There are hundreds of startups with a lot of brains and money working on various alternatives to traditional banking," Dimon wrote in the letter. "The ones you read about most are in the lending business, whereby the firms can lend to individuals and small businesses very quickly and — these entities believe — effectively by using Big Data to enhance credit underwriting." Read more...
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