> If better payment UI were a compelling reason to choose one bank over another, banks would have improved their Zelle UI years ago. But it isn't, so they don't.

Sure, but that's not in opposition to my point. I'm saying that for any individual, switching banks for money-sending is much easier than switching from e.g. Venmo to Apple Pay, because at least half the people you know don't know anything about Apple Pay.

> The Venmos of the world have all the incentive to improve their UI, because they don't have anything else drawing customers to them and causing them to stay.

The network effect. If you're in the US, you use Venmo because everyone else uses Venmo.

> PS - Twitter is more important than ever in terms of driving the news [...]

Yes, my analogy works with that. Twitter is Venmo. Everyone is on Twitter/Venmo because that's where the network effects are.