On Point with Meghna Chakrabarti Welcome to the casino economy
10 snips
Nov 13, 2025 
Kyla Scanlon, a journalist and finance expert, teams up with Angela Lee, a professor and founder of 37 Angels, to explore the troubling rise of a 'casino economy.' They discuss how speculative investments and new financial products blur the lines between finance and gambling. They dive into the ethics of venture capital in speculative markets and the risks posed by crypto collateral. With younger generations feeling the pinch of wealth concentration, they question who ultimately bears the consequences of this volatile financial climate.
AI Snips
Chapters
Books
Transcript
Episode notes
Gamified Finance Encourages Risky Spending
- Gamified fintech like Covered turns spending into casino-style engagement that encourages more purchases.
- Angela Lee warns this manipulates financially vulnerable users and conflates education with gambling.
VC Returns Trump Moral Judgments
- Venture capital often prioritizes returns over moral or social outcomes.
- Angela Lee suggests VCs have fiduciary duties that can conflict with broader societal harm.
Speculation Has Become Systemic
- Kyla Scanlon labels current markets a "casino economy" where speculation and betting pervade finance.
- She argues this phase is worse than past bubbles due to looser regulation and VC encouragement.
