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JSwiffer's avatar

> ATMs were complementary to bank tellers and increased their employment, but the iPhone was a substitute and now a lot of those jobs are indeed gone.

I'm not completely convinced that ATM's increased teller employment. I think there were a couple of trends causing increased banking like deregulation and increased demand for banking services which increased # of branches.

ATM's did probably help with increased # of branches by partially driving banking demand and reducing branch costs but I don't think this completely offset reduced need for tellers. I think it's more likely in a world without ATMs we'd see more tellers.

Ashwin's avatar

The times are hectic, dark and cray

but I have spires still to slay

I cannot work until I play

I cannot work until I play

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