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The Panic of 2023 (EP.299)
Animal Spirits Podcast
Is the Tech Industry Going to Change the Finance Industry?
The tech industry is amazing at understanding that world of innovation and the finance world of crowding out very good at it, but we can say that the tech industry is not very good at understanding the finance world. This will be a wake up moment for them. We ought to pay a little bit because people are going to start leaving. I just want to kudos that Powell probably do a bad job being too late to react and overtighten it. These regulators have had 15 years working on this. There's a lot more expertise and experience. The stakes are better known. It feels like fall of oh eight a little, but with much less panic.
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