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#052 Money 20/20, Fintech Innovations, and Interviewing Legends with Zach Anderson Pettet

Smart Friends

Regulatory Capture

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If you spend a hundred dollars on a community bank card, a chimed card backed by a community bank, the community bank and the entity together make about $3 instead of $1. That's because of a regulation put in place called the Durbin Amendment. So banks were too big to fail in 2008 as a result of that. We want to create a regulatory kind of prop up for the smaller banks. And then if you think about, they're just the only ones who are allowed to move money in the US. Exactly. Regulatory capture 100%.

Links:

Zach on Twitter & LinkedIn

For Fintech’s Sake Podcast

Trafficked with Mariana Van Zeller

Topics:

(4:25) - Recap the last episode with Zach and Eric

(5:34) - Fintech Industry Overview

(15:21) - Money 20/20 – the Biggest Fintech Conference in the world

(24:02) - Regulation looms over Fintech, always

(27:12) - The “Off The Record” Stage at Money 20/20

(29:28) - The CFPB and Rule 1033

(43:15) - Stripe, Adyen, Warren Buffett, and The Media

(49:01) - Behind the scenes at Money 20/20

(59:20) - How do you get Serena Williams on stage?

(1:01:58) - Holding the keys to so much potential ROI

(1:04:33) - Defining the relationship between a fintech org and a bank

(1:11:21) - Entrepreneurs buying their own community banks

(1:16:58) - The intersection of Crypto and Fintech

(1:27:11) - Is OnlyFans only a bad thing?

(1:35:34) - What is the overarching story that Money 20/20 tells?

(1:41:50) - Wrapping up

>> Invest in early-stage companies alongside Eric and his partners at Rolling Fun: https://angel.co/v/back/rolling-fun

>> Join the free weekly email list at ejorgenson.com/newsletter

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>> Give the podcast a positive review to help us reach new listeners

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