he's saying the CFPB is personally run by Elizabeth Warren and can do "whatever it wants," which is punishing fintech innovators by kicking them out of the financial system
Andreeson is a dangerous dangerous dude.
Has zero interest in humanity or others.
All about his technology and money.
Complete sense of invincibility, that outside economic and social issues do not effect him
People are just pawns to his ends.
If the cost of making Bank But It's An Addictive I Mean Gamified App is that sometimes a few thousand people lose their entire life savings because they thought it was FDIC insured, well, that's a price Marc is willing to (let others) pay
Even worse, the company a16z backed as the backbone of "fintech", Synapse, has failed and left thousands of people without access to their life savings, and the CFPB could investigate them so he's probably terrified
It’s like a Twain parable every time these guys open their mouths. A couple of years ago I was fully prepared to believe these guys were elite geniuses but then they KEPT TALKING.
> punishing fintech innovators
"Innovators" in the financial space have a long and storied history of charlatanism. While "innovation-stifling" regulation is detested on the supply side's (whose singular interest is "line goes up"), the demand side powerfully resents being swindled.
Worth noting here that Andreesson invested a ton of money in the company that makes bored apes or whatever, he is pissed that anti-fraud laws might be enforced
the fact that people take him seriously because he was at one point a great programmer is nuts, computer programming skill does need give you universal genius in every subject.
Comments
Just media diet brain rot all over the place
Has zero interest in humanity or others.
All about his technology and money.
Complete sense of invincibility, that outside economic and social issues do not effect him
People are just pawns to his ends.
Bet there's some incredibly hilarious stuff in there
https://techcrunch.com/2024/05/25/with-a16z-backed-synapses-collapse-baas-fintech-is-a-mess-and-10-million-consumers-could-be-hurt/
https://techcrunch.com/2024/08/22/synapses-collapse-has-frozen-nearly-160m-from-fintech-users-heres-how-it-happened/
"Innovators" in the financial space have a long and storied history of charlatanism. While "innovation-stifling" regulation is detested on the supply side's (whose singular interest is "line goes up"), the demand side powerfully resents being swindled.
Well, you yanks certainly kept that one under your hat, which is what he should do.
He was in the right place at the right time ONCE, assumed that was skill and fate and not just luck, and it's driven everything he's done since
Also he looks like an egg