It's surprising how quickly costs can escalate. One of my neighbours flooded. During repairs they quickly discovered there was asbestos everywhere. I don't know what the costs were but they weren't back home for two and half years.
There’s a parallel to software here, somewhere. When you take out insurance against an event even if you think you could absorb it anyway, what you’re really insuring against is the costs you don’t foresee. I’m having a ‘build vs buy’ discussion at work which is surprisingly analogous.
I find this debate interesting, but I can see this argument being used by both sides. Is your point that you don’t foresee external issues by buying like the supplier going under/the product becoming unmaintained or that you don’t foresee internal issues by building like some critical security oversight?
It's an interesting discussion, for sure. I'm on the buy side right now, because it's an accounting solution, and I'm scared we don't know enough to build a competing product in a regulated space. We're more legaltech than fintech, so it feels like we'd be committing resources to the wrong place.
