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January 15, 2021 JP Morgan CEO Jamie Dimon Says He Is Scared Sh tless Over Big Tech s Move Into Finance
JPMorgan Chase CEO Jamie Dimon has expressed his fears about the future of both traditional banks and the country at large following the growth of Big Tech into the financial industry. The companies referenced by Dimon include well-known behemoths such as Amazon, Apple, and Google in addition to more business-focused apps such as Square, Stripe, and PayPal.
According to
CNBC, Dimon made the comments during a conference call with analysts on Friday morning. The CEO, who oversees a banking empire worth $3.4 trillion, confessed that he was scared sh tless over the competition that fintech a portmanteau of finance and technology offers both at present and in the future.
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