Goldman Sachs is held up as a good example: "Goldman spent roughly $12.3 billion on compensation and benefits in 2018, more than half of its total operating expenses, and just $1 billion on communications and technology, which is typical of Wall Street banks … "The move to automation is obviously bad for rank-and-file bankers, but it's no better for their bosses because a smaller headcount requires fewer managers. So it makes sense that Goldman is culling its upper ranks … "What's bad for bankers, however, is likely to be a boon for shareholders. Big banks are transforming into vast technology platforms overseen by a smaller core of executives and business generators … "The big banks also have little to fear from upstarts. Technology becomes cheaper and more widely available over time, but brand and distribution is enduring and difficult to attain. That gives Goldman and its peers a considerable edge …" Optimistic? Of course.