Banking will be shaken up - by tech giants, not fintech startups

IN cash-abundant Silicon Valley, there is a myth that any college dropout with a hoodie and a half-baked idea can raise venture funding. They are young and limitless. They aren't biased by industry norms and so can freely reinvent the world as we know it.

They are Steve Jobs. They are Mark Zuckerberg. They are Bill Gates. If we live in a world of accelerated change, they move at an accelerated pace.

These seemingly small-scale innovators can sometimes be devastatingly dangerous: Netflix destroyed Blockbuster, BuzzFeed decimated Time, Uber threatened GM, and Amazon trampled BestBuy.