Comment by 827a

Actually, the whole banking analogy is a great one, and its not over yet: JPMorgan/Jamie Dimon has started raising hell about Plaid again just this week [1]. It feels like the stage is being set for the large banks to want a more direct relationship with their customers, rather than proxying data through middlemen like Plaid.

There's likely a correlate with AI here: If I run OpenTable, I wouldn't want my relationship with my customers to always be proxied through OpenAI or Siri. Even the App Store is something software businesses hate, because it obfuscates their ability to deal directly with their customers (for better or worse). Extremely few businesses would choose to do business through these proxies, unless they absolutely have to; and given the extreme competition in the AI space right now, it feels unlikely to me that these businesses feel pressure to be forced to deal with OpenAI/etc.

[1] https://www.cnbc.com/2025/07/28/jpmorgan-fintech-middlemen-p...