Venture Catastrophists | No Mercy / No Malice

[@digibutionnetwork343]

His voice is what I'm looking for on Audible to read my e books.

[@deacatela7909]

There is one book I listened to on audible called “The Life Scale” (I believe, it’s been a while), and the narrator/author sounds pretty similar!

[@kevintal]

Scott Galloway + George Hahn = Great content, presented professionally

[@AldoDonnisto]

Excellent take. Also remember that JP Morgan financed wars for us, Wells Fargo was critical in the Civil War, etc. Real bankers are adults and patriots. Silicon Valley needs to 'man up', and, as you pointed out, learn from Janet Yellen.

[@darrellstyner0001]

OMG, this was amazing! I'm a fan so I've heard it all before, but what a presentation!

[@Titantakeover03]

This was actually more informative than I thought.

[@ehlava]

great stuff. of course JP Morgan did not save the system because the massive bank failures of the Great Depression led to Glass-Steagall, which stabilized the banks from 1933-1999, when it was pulled back, and less than 10 years later the banks collapsed again in 2008. And they will collapse again after this week until investment and banking are separated, like they were under Glass-Steagall.

[@seanwelch71]

Prof G doesn't read these comments. I really enjoy his insights into economics and wealth.

[@flochfitness]

I’ll let him know 🙂

[@scottgalloway2421]

Nope, doesn't read them. But if he did, he'd likely say "thanks." Who knows.

[@seanwelch71]

@@scottgalloway2421 my thanks, sir. To your good nature.

[@conduit242]

This is the first financial channel to call it like it is: an engineered bank run by a few VCs.

[@jesseharradine9861]

AMAZING. thank you prof G , so glad someone is saying this

[@thetubetub]

Fbombing-A Pro-G! Nailed it! All-in…UNLESS stakes get real😮😂

[@johnp.hyland4115]

Love George, I live down the street from where he grew up!

[@jopowicz]

Genius. Professor, would work with my HS students in economics? Already show parts of the weekly show and they would flip their weaves if you Zoomed in. More broadly, we’re developing a character development program and our young folks especially young men need a counter to this person in jail in Romania that is hugely popular among them. Need more Young Scott’s becoming Prof G’s than otherwise to shape the future. Kids need to know, “Comes the moment, comes the man” and Janet’s the Man.

[@FGD135]

This is an oasis for actual good content, cheers

[@whtmasterd]

love all you say and endorse the proposition. unfortunately, there is a growing number of individuals and companies that are doing all in their power to create a 'banking crisis' to cash in on the chaos that ensues.

[@jannichi6431]

I call the 'Redistribution of Wealth'. COVID created a similar reaction resulting in a greater wealth gap. Today, 1% owning 1/3 assets.

[@miltonali4419]

I look to scott for perspective. He has been providing that for me for over 10 years.

[@marathonhandbook]

That was 10/10. Best take I’ve listened to. Thanks for sharing

[@EdwinE69]

What a masterpiece. Thanks

[@Autigers6933]

Great work team🎉

[@nurfadli5193]

what a great story-telling we have here..

[@HeavyWeight-qx8ou]

The tech industry, like the entertainment industry, is an adolescent subculture. Don't expect self absorbed teenagers with poor judgement to step up and be responsible adults when it hits the fan.

[@LevelofClarity]

This is good. And probably mostly true. It was kind of embarrassing watching "The World's Greatest Moderator (TM)" meltdown in front of millions of people. Generally speaking, I have respect for a lot of these guys, but this was rough.

[@IgorGnot]

Best episode ever.

[@charlescooper300]

I really liked the format with the paid actor...... Great message.

[@SP-wg5pn]

Perhaps we should consider circuit breakers for bank runs similar to the ones we have in the stock market. It would seem the internet(twitter) can move faster than a bank. Have the government declare a bank holiday and sort it or sell over the weekend. Also the owner of one bank (NG) should not be inciting a run on another, I’m of the belief that he was trying to buy SVB at a discount and things just moved to fast.

[@mikedean6576]

This is content 👏🏽

[@kinseywk]

So if the value of fiat currency is just a function of trust, as are the stability of the banking system and success of stock markets, I guess I don't understand what purpose money actually serves at this point. Seems cleaner to just cut out the middlemen and place trust directly in firms to provide our needs: trust in farmers to grow crops, trust in supermarkets to keep shelves stocked, trust in utilities to keep the lights on and water flowing, etc.

[@antonomaseapophasis5142]

Scott Galloway on SVB parallel to J.P.Morgan in 1907

[@jswap1]

This video should be retitled to "Misplaced Trust"

[@aaronhall5715]

The All Caps VC must be Jason Calacanis....

[@saarangsahasrabudhe8634]

Hi. I'm one of your readers of No Mercy/No Malice. I already read the blog, so this isn't working for me. But..... It would work for me if you paid someone to put infographics and animation on a screen instead of a person reading a script. That would make it a video essay like the ones Economics Explained or Wendover productions make.

[@jsfnnyc]

There are reports of a lot of private planes touching down in Omaha in the last couple of days. Warren Buffet may be today’s private backstop.

[@Chasebald]

Banks don’t loan out deposits. Bank loans create deposits. It’s a balance sheet transaction. Loans are a liability that become assets as they are repaid. Common misconception about banking.

[@Eastbayrob]

Ok Steve keen 😉

[@BigHenFor]

Really? Deposits are entered on a bank's balance sheet as liabilities in the first instance. As you say its a double entry. Depositor gets a claim as an Asset equivalent to the amount contracted with the Bank in return for their deposit. At the same time, the Bank liability to meet that claim appears as a liability in the Bank's balance sheet. In order to meet that liability in the future, the bank lends that money out. Then and only, then does the loan appear as an amortised asset on the bank's balance sheet. With fintech, such lending may happen instantaneously, but unlent deposits are a liability on the bank's balance sheet. Banks are not the Wizard of Oz, standing behind a curtain making noise to frighten their credulous subjects. They're hustlers, scanning markets to make loans or trades that give them the biggest profit margin over the value of their liabilities. And they both borrow and lend to meet them, mostly from other banks, using their assets as collateral. That's the Magic Juice, liquidity. Depositors need to trust that any bank can meet their liabilities on demand, as per their contract. So the banks must hustle and make the money they control work hard, but work safely too.

[@jonrussell739]

I don't come to this channel to watch monotone reading. It doesn't fit the medium. I could read it myself. I come here for the "so what?" Something happened. So what? What does it mean? Why does it matter?

[@kevinl20082008]

If banks take our deposits and lend to risky investment so that they can make more, then banks should give the depositors a respectable rate of return on the deposits. But no, if they fail they want our tax money to bail them out.

[@FLAC2023]

Smartest guys in the room...lol😂

[@VT-ix5oh]

Did u audible narrate life after google?

[@neilmoran9988]

Too big to fail too small to succeed .

[@myles4714]

11:37 what a ridiculous notion that it’s crypto investment firms responsibility to sure-up a bank that made reckless investments. Professor G tells us all the time that he’s a capitalist, well don’t give us the pikachu face when businesses act in their own interests.

[@101tangu]

Interesting

[@WilliamRhodes]

How do you say you love Anthony bourdain without saying it. It's in the title.

[@SmokesDankInACave]

Janet Yellen's going to help the economy and do everything morally correct is what I learned hopefully it's true🤷‍♀️

[@virtue_signal_]

Leave Musk alone! He's doing fine.

[@chad9971]

Capitalism on the way up, socialism on the way down. Hate to see it...

[@duskrider1724]

Is crypto the life raft, or the iceberg?

[@montpelier3]

Laughing thank you again.

[@crocobaur5407]

Nice try