With interest rates rising, Fintech is in serious trouble. That’s why the stocks are down drastically. Add in that the accounts aren’t backed by the government and Fintech is basically unregulated & the coming insolvencies will be painful. Kind of like crypto. Everything that emanates from Silicon Valley is not golden. Saw a similar ending with the internet bubble. Zero interest rates creates bubbles. You can’t keep building economic growth via ever increasing levels of debt. The ending is always painful. I remember when Uber & Lyft were disrupting the transportation industry. Now, after 10’s of billions in losses, and the stocks below their IPO price, reality is setting in.
Sent from Yahoo Mail for iPhone On Sunday, June 19, 2022, 2:36 AM, David Crayford <dcrayf...@gmail.com> wrote: On 19/06/2022 5:23 am, Enzo D'Amato wrote: > I also agree, but as a non-insider, I wanted to know what others were > thinking. I also belive that in most cases, the effort spent trying to get > off the mainframe would be better spent actually fixing the code running on > it in the first place. Moving around broken code doesn't automatically fix it. It's not just about fixing broken code. If you read the ING CIO's remarks about why they wanted off the mainframe it's not about the platform. Nobody denies that mainframes are insanely brilliant hardware platforms. ING wanted to get rid of batch and move towards an event driven architecture using pub/sub where they can easily deploy loosely coupled micro-services to provide cutting edge products. The technology stacks are built on open source such as Kafka, MongoDB, Cassandra, NiFi, Avro etc. The retail banking industry has been disrupted by fintechs so waiting for an overnight batch schedule for settlements is a competitive disadvantage. Cracking open and modernizing 50-60 year old COBOL batch applications is a VERY heavy lift. https://www.theregister.com/2016/07/01/ing_mainframe_strategy/ <- read the comments section. It's hilarious :) The doubly whammy is there's a skills crisis slowly unraveling. In the last year we've had 3 key resources move to 3 day weeks with a view to retiring. Replacing highly skilled assembler programmers with deep subsystem knowledge is proving to be difficult. Young people don't want to learn HLASM as they consider it a dead-end. Their position is "why invest 3-4 years learning a language that is useless if you move to another industry?" I can't comment about COBOL application developers. In 10 years time I expect the mainframe to be alive and kicking and significantly modernized. The small/medium shops will probably be all gone. When I first moved to my current town in 1998 there were 25-30 mainframe sites. Now there are 3 and 1 is on life support. One of our customers re-platformed their CICS/COBOL/Batch applications from a z9 to a single blade server. It doesn't make any sense financially for a small site to run a mainframe. https://www.itnews.com.au/news/wa-insurance-commission-decommissions-mainframe-322780 > > Get BlueMail for Android<https://bluemail.me> > On Jun 18, 2022, at 5:13 PM, Charles Mills > <charl...@mcn.org<mailto:charl...@mcn.org>> wrote: > > I always like the stories about the companies that are in the eighth year of > a three-year project to get off the mainframe. > > Enzo, my friend, you have just kicked the hornets' nest! You had better > duck, because the onslaught is coming. "The mainframe is [not] dead" is near > and dear to the hearts of IBM-MAINers. > > Yes, I think the consensus is that the mainframe has a future. IBM seems to > be focused mainly on the very largest shops, so the trend seems to be bigger > and bigger machines at fewer and fewer companies. But it is hard to envision > Bank of America balancing their checking accounts every day on an array of > Windows servers, in their datacenter or in the cloud. My reading of the tea > leaves -- I am not an insider -- is that for a long time IBM was *saying* > the mainframe was here to stay but internally they did not believe it and > were not making decisions on that basis -- but I think that has now changed. > IBM appears to have made a HUGE investment in the z16, an investment that > will take more than 5 or more years to recoup. > > Welcome aboard! > > Charles > > > -----Original Message----- > From: IBM Mainframe Discussion List [mailto:IBM-MAIN@LISTSERV.UA.EDU] On > Behalf Of Enzo D'Amato > Sent: Saturday, June 18, 2022 1:56 PM > To: IBM-MAIN@LISTSERV.UA.EDU > Subject: Re: Modernize Mainframe Applications for Hybrid Cloud with IBM and > AWS > > As someone who is new to this field, and hasn't been though a wave of "the > mainframe is going away" yet, will there still be companies running the > mainframe 5 or 10 years down the line? Also, when I read about companies > trying to get off of the mainframe, how often do these efforts end up > succeeding? > ________________________________ > > From: IBM Mainframe Discussion List <IBM-MAIN@LISTSERV.UA.EDU> on behalf of > Mike Schwab <mike.a.sch...@gmail.com> > Sent: Saturday, June 18, 2022 12:04 AM > To: IBM-MAIN@LISTSERV.UA.EDU > Subject: Re: Modernize Mainframe Applications for Hybrid Cloud with IBM and > AWS > > Moshix signed up for an AWS instance, loaded up Hercules and Turnkey > 4-, got it going, and allowed some other people to log in. > > On Fri, Jun 17, 2022 at 8:31 AM Bill Johnson > <00000047540adefe-dmarc-requ...@listserv.ua.edu> wrote: > > Cloud - Something the mainframe has been doing for decades. We called it > outsourcing. GM ran their entire organization out of mainframes in > Charlotte, Dallas, & perhaps another in the 80's. The internet just made it > easier, and less secure & reliable. Brought outsourcing to a wider audience. > > Mainframe modernization. An oxymoron. Like saying today's cars are like > cars from 50 years ago. The mainframe is more advanced than any other > platforms. Billions of dollars of investment and patented technologies have > guaranteed its place for decades to come. > > Sure, AWS, Azure, Oracle cloud & numerous others are creating cheap, > unsecured, unreliable, platforms for small businesses, picture storage, > emails, instant messaging, and many other tasks that aren't show stoppers if > they're hacked or down for one of many reasons. As Capital One found out and > lost almost 200 million for the pleasure. > > I enjoy the glee that many of you exude when IBM has what might be > perceived as negative news. I saw the same glee when in the 90's some idiot > said the mainframe would be history circa 2000. > > > Sent from Yahoo Mail for iPhone > > > On Friday, June 17, 2022, 9:06 AM, zMan <zedgarhoo...@gmail.com> wrote: > > On Fri, Jun 17, 2022 at 5:50 AM David Crayford <dcrayf...@gmail.com> > wrote: > > Maybe it's the case that customers don't want to use IBMs cloud. Where I > live in Australia the big four banks are moving significant chunks of > their infrastructure to public cloud and have government legislation to > do so. NAB in particular have been quite aggressive, although like most > sensible enterprises they have gone down the multi-cloud route with > Microsoft Azure so they don't have all their eggs in one basket. > > It will be interesting to see if IBM can close the cloud gap. Playing > catch-up is difficult when competing with behemoths with a decade+ head > start. > > > Indeed. Word from insiders is that since IBM "management" have decided > cloud is The Answer, folks have started playing games, like attributing > all > CICS-related revenue as "cloud". Q4 2020, IBM claimed $6.2B in cloud > revenue on total revenue of $16B. Given that nobody EVER says"cloud" and > "IBM" in the same sentence in the real world, those numbers are quite > difficult to believe without this kind of gameplaying. > > ________________________________ > > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > > > > > ________________________________ > > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > > > > -- > Mike A Schwab, Springfield IL USA > Where do Forest Rangers go to get away from it all? > > ________________________________ > > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > > ________________________________ > > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > > ________________________________ > > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN > > ---------------------------------------------------------------------- > For IBM-MAIN subscribe / signoff / archive access instructions, > send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
