Many Happy Returns Podcast

Every company, if it's successful over the long term, turns into a bank. I don't see any practical difference between an unregulated money market fund and a bank. It's always tempting to offer people credit to buy your own products. That's a nice business model to have. China's been doing that for a long time. Let's just wait and see how many of these car loans go bad.

Transcript

Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.