Hot Money: Agent of Chaos

Episode 5: The Billionaire Who Took Down Porn

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Jun 28, 2022
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ANECDOTE

Bill Ackman's Personal Reaction

  • Bill Ackman reacted strongly to a New York Times article exposing exploitation on Pornhub.
  • His anger was personal, as he has four daughters and found the abuses disturbing.
INSIGHT

Payment Networks Control Porn

  • Mastercard and Visa act as gatekeepers controlling the flow of payments in the porn industry.
  • Cutting off payment access effectively forced Pornhub to remove millions of videos and change its business model.
INSIGHT

Visa and Mastercard's Porn Rules

  • Visa and Mastercard have informal but strict rules shaping porn content posted online.
  • Payment companies act as de facto regulators deciding what is acceptable, enforcing a shadow "Hays Code" for porn.
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