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whynotbalu

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Awesome work! This could be huge in terms of overcoming the gender/race barriers to finding great mentors within traditional corporate structures (and even within the super meritocratic startup world).

So, I tried Dwolla 13 years ago

This is not true, it obviously varies by bank. Bank of America allows free online transfers to other B of A accounts, and it costs between $3 and $10 to transfer to accounts outside the bank. The $3 option to transfer between banks is pretty fast, while the free, inside bank option is instantaneous.

Your argument about experience probably holds a ton of water in other domains, but I question that it applies to every technology startup. A lot of technology startups are better off not hiring any any experienced folks (developers, business people, whatever) for a long long time. Young people learn and adapt faster and are less blinded by past knowledge and heuristics by how the world operates, so there are tons of technology startups that can probably go a long time without bringing on experienced folks.

This is a specific argument, cannot be generalized for all startups.

Full Disclosure: I'm a "young person".