The Prof G Pod with Scott Galloway How Software Ate Finance — with Martin Chavez
9 snips
Apr 1, 2021 
Martin Chavez, a senior advisor and former CFO at Goldman Sachs, dives into the transformative effects of software on finance. He emphasizes the need for regulatory frameworks for big tech, comparing them to banking regulations post-crisis. Chavez also discusses the fascinating rise of meme stocks, the shifts towards digital finance, and the importance of digital literacy. He sheds light on the economic struggles facing young men today and advocates for initiatives to improve youth opportunities, connecting these trends to broader societal issues.
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Finance's Transformation
- Old financial dichotomies like buy-side vs. sell-side are disappearing.
- Everything is becoming a software service, emphasizing APIs.
Regulating Big Tech
- Big tech, like banks after 2008, needs regulation due to its societal impact.
- Regulators should use stress tests, similar to banks, focusing on the advertising model's role in crises.
Fintech's Future
- The future of fintech relies on banks due to the public's need for trust and regulation.
- Banks have existing software infrastructure and will likely absorb or collaborate with fintech companies.
