"World of DaaS"
Andrew Ross Sorkin: SVB, Lessons from 2008 Financial Crisis & VC
Oct 12, 2023
Financial columnist Andrew Ross Sorkin discusses non-obvious insights into the 2008 financial crisis, the banking system evolution, and the SVB collapse. He also explores venture capital in the media industry, AI's role in copyright, changes in M&A driven by private equity, and intriguing subjects like independent media and conspiracy theories.
45:39
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Quick takeaways
- The 2008 financial crisis was a crisis of confidence that developed rapidly, highlighting the role of social media in enabling the rapid loss of confidence in financial institutions.
- Artificial intelligence (AI) has the potential to disrupt industries like healthcare and education, but ethical concerns and challenges such as copyright issues and privacy need to be addressed.
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Lessons learned from the 2008 financial crisis
Andrew Ross Sorkin discusses the evolution of our understanding of the 2008 financial crisis and how it has shaped the current financial landscape. He highlights that the crisis was a crisis of confidence and emphasizes the importance of recognizing that crises develop rapidly in minutes and seconds. Sorkin also points out the unique element of social media-driven crises and the role of social media in enabling rapid loss of confidence in financial institutions. Additionally, he explores the backlash against Wall Street after the crisis and the lessons learned about the need to support banks during a crisis. Sorkin reflects on the impact of the crisis on public trust in experts and institutions and its implications for the future.
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