Jim Cramer may be the host of CNBC’s “Mad Money,” but that doesn’t mean he is up to date on the latest trends in financial services. Here, he is learning about P2P — which can stand for person-to-person or peer-to-peer — payments.
Mentioned in the video are Venmo, now owned by Braintree, Fiserv’s Popmoney, and Dwolla, which collectively dumbfound Cramer. The video is from Mainstreet, part of TheStreet, the financial news network co-founded by Cramer.
This is laughable. Jim Cramer’s reaction is priceless and the guy and gal describing it are so out of touch with real people it is great. They claim you could go out to a club and say Venmo me the money and everyone would know what that meant. You couldn’t do that at a mobile payments event and have more than 40% of the people know what it meant. They focus Dwolla on BitCoin instead of the fact it is an alternative to ACH. They use horrible use cases, don’t touch on the problem they are solving. This is funny ! These hosts are trying so hard to be hip they forget to be informative. I love mobile money since it is the one market where 0.01% knowledge makes you an expert.
Dion, they say that in the land of the blind, the one-eyed man is king! Thanks for the comment.
OK, but this is a case of in the land of the blind the guy with the white cane is king!
Ha ha! The guy host sounds like he belongs on that SNL Sketch “The Californians” http://www.nbc.com/saturday-night-live/video/the-californians/n13474/
Is this a comedy sketch? The hosts are so unqualified to explain P2P Payments.
We wish it was, Paul, but unfortunately it’s all too real! Thanks for the comment.
Maybe we should give them the benefit of the doubt and call it a comedy sketch? (I’m trying to be nice here.)
Great find, Phil.