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Appetite for Disruption: The Business and Regulation of FinTech
22 minutes | 10 hours ago
Mike Belshe, Part 2: Business, technology, and regulation
We continue our conversation with BitGo founder and CEO Mike Belshe with an in-depth discussion of business and regulation in the sphere of new technology. Mike makes the point that many cryptoassets are about money and therefore should be regulated. He outlines some principles for regulation that focus on adaptability and balance. Troy and Lee chat at the end. As a reminder, nothing in this episode is investment, legal, or any other advice of any kind, and nothing in this episode is an endorsement or recommendation of any kind.
22 minutes | 14 days ago
Mike Belshe, Part 1: From custody hobbyist to custody powerhouse
We are joined by Mike Belshe, founder and CEO of BitGo, a FinTech firm focused on custody and other services related to blockchain assets. Mike describes his journey from helping friends hold their Bitcoin in the early days to building and improving new techniques for the custody of these assets. He drew on his experience in other areas of technology and on his love of disruption (our word, not his). As a reminder, nothing in this episode is investment, legal, or any other advice of any kind, and nothing in this episode is an endorsement or recommendation of any kind.
21 minutes | a month ago
Paul Clayson Part 2
A peek into the future of secure IoT. We continue our conversation with Paul Clayson, CEO of AgilePQ. Paul announces an exclusive first that they will open source their algorithm soon! He explains the reasons behind that decision and the benefits of the open source movement. He also delves further into what the future of the internet may look like where the world is incredibly connected. Troy and Lee talk about their perceptions of what that world might mean from a practical standpoint. As a reminder, nothing in this episode is investment, legal, or any other advice of any kind, and nothing in this episode is an endorsement or recommendation of any kind.
23 minutes | a month ago
Paul Clayson Part 1
A peek into the future of secure IoT. People talk a lot about the wave of internet of things (IoT) devices that will provide convenience to many aspects of our lives and revolutionize areas such as healthcare. The folks at AgilePQ, whose CEO Paul Clayson joins us for a fascinating conversation, focus on related cybersecurity. Paul warns about the dangers of insecure IoT devices and explains how AgilePQ is working to address these problems. He also provides insights into management from years of running companies. As a reminder, nothing in this episode is investment, legal, or any other advice of any kind, and nothing in this episode is an endorsement or recommendation of any kind.
30 minutes | 2 months ago
Special episode! Matt Leising and his new book “Out of the Ether.”
Bloomberg reporter and author Matt Leising joins Troy and Lee to discuss his recent book about the Ethereum blockchain and the DAO hack. Part history and part detective story, Matt doesn’t spoil the whodunnit but he gives us great insights into what happened and how he solved the mystery. He also talks a lot about his views regarding the promise of blockchain and Ethereum and articulates the different visions that different people in the blockchain community have for the technology and its use cases. The book is a compelling read and will give readers both a well-told story and insights into a potentially very important technology and how it developed. As a reminder, nothing in this episode is investment, legal, or any other advice of any kind, and nothing in this episode is an endorsement or recommendation of any kind.
58 minutes | 3 months ago
Jesse Greif of OneChronos
How might applying Nobel Prize winning economics to markets affect how they operate? Jesse is the COO at alternative trading system OneChronos. He explains the thinking behind the ATS and how it matches securities orders in a unique manner that employs Nobel Prize winning auction theory, probabilistic search, expressive bidding. and other advanced concepts. We talked about how OneChronos combines them into a very frequent auction process. How will this impact execution quality and the user experience? We’ll find out. It certainly should spark a lot of discussion and exchange of ideas. Troy and Lee share some of their thoughts at the end of the episode. As a reminder, nothing in this episode is investment, legal, or any other advice of any kind, and nothing in this episode is an endorsement or recommendation of any kind.
27 minutes | 3 months ago
Haime Workie of FINRA Part 2
Cost/benefit analysis and emerging technologies. We continue our conversation with Haime Workie of FINRA’s Office of Financial Innovation with a deep exploration of questions about balancing policy and regulatory considerations with innovation and offering new products and services. Haime shares his views on the opportunities and challenges, both from his legal background and from his engineering background. If you are too rigid, you might miss big opportunities. If you don't exercise appropriate caution, you might expose market participants to significant risks. And there are questions about what risks are posed, whether traditional risks are mitigated by new technology, and the magnitude of each identified risk. Haime also talks about how regulators use technology. Troy and Lee share their thoughts at the end. In this episode, Haime is speaking for himself and not for FINRA.
25 minutes | 3 months ago
Haime Workie of FINRA Part 1
Can financial innovation create the best day ever? Haime heads FINRA’s Office of Financial Innovation where he and the team study the future of financial services and the potential impact of innovation on investors, markets, and FINRA’s mandate. This work involves lots of learning about new technologies and new applications of technology to all aspects of financial services as well as parsing the potential benefits and risks. Their recent AI report highlights this work and assesses many considerations across various AI use cases. Haime discusses some details of the report and considers whether automated investment decisions are here to stay. In this episode, Haime is speaking for himself and not for FINRA.
46 minutes | 4 months ago
Special Episode! Bea Wray, entrepreneur and author of “What an MBA Taught Me . . . But My Kids Made Me Learn.”
Troy and Lee welcome Bea Wray and discuss her new book and its main messages. She teaches us about gratitude as an attitude and the art of “thank you” notes. It turns out that "thank you" notes can make a big difference in relationships, both business and personal. You might say that they are Bea’s “secret sauce.” We also talk about how to create an organization that is focused on people -- employees, customers, vendors, and others in a company’s ecosystem. Creating great relationships that involve collaboration and helping each other can be an effective way to build a business and move it forward. Her energy, complemented by her thoughtfulness and insights, should translate into a great book with nuggets of wisdom. At the end of the recording, Troy and Lee chat about Bea's key points and how they apply to their lives and business.
27 minutes | 4 months ago
William Rhind Part 2: Public Markets or Private Markets?
The GraniteShares CEO finishes our conversation sharing his thoughts about the differences between public companies and private companies and how public markets can force companies to have more discipline. He also offers insight into some of his ideas for ongoing innovation and our financial markets. Stay tuned at the end as Troy and Lee discuss where technology might be headed. As a reminder, nothing said in this or any other episode is investment, legal, or any other advice of any kind.
32 minutes | 5 months ago
William Rhind Part 1: The Rise of ETF Disruption
William Rhind is founder and CEO of GraniteShares, a recent entrant in the exchange traded funds space. As William explains, financial innovation -- and associated disruption -- continues. That disruption could come from new goods or services or whole new business models. He also touches on themes we hear from other entrepreneurs around the challenges of a startup. But thinking differently about things is often where the innovation begins. As a reminder, nothing said in this or any other episode is investment, legal, or any other advice of any kind.
26 minutes | 5 months ago
Sunayna Tuteja Part 2
Educating the World about Emerging Technologies. We return with Sunayna Tuteja to hear her views on the importance of education, as firms and investors approach new financial services and emerging asset classes. This involves learning from investors and customers to help create the tools and materials they need. A disciplined approach to innovation can make a big difference when it comes to results and impacts. Stay tuned at the end for Troy and Lee’s discussion. As a reminder, nothing said in this or any other episode is investment, legal, or any other advice of any kind.
24 minutes | 6 months ago
Sunayna Tuteja Part 1
The Pivot to Emerging Technologies in Financial Services. We welcome Sunayna Tuteja, who heads TD Ameritrade’s digital and emerging technologies efforts. Her vision of technology as democratizing finance and creating financial inclusion fits in with the overall founding ethos of Ameritrade. She thinks carefully about what the problem is, why is it worth solving, and why is her team uniquely qualified to solve the problem. Often these problems are about removing friction to allow clients to take charge of their financial future. By breaking down all types of barriers, Sunayna and her team are innovating in ways that are core to what we hear from most FinTech entrepreneurs, even within the context of a large organization. As a reminder, nothing said in this or any other episode is investment, legal, or any other advice of any kind.
51 minutes | 6 months ago
Do you know the way to Sacramento?
Special episode! Do you know the way to Sacramento? We are joined by three people from Sacramento for a discussion about the efforts the city and the state of California are undertaking to help create economic inclusion by closing the digital divide, bridging the skills gap, and encouraging innovation in FinTech and beyond. Barry Broome, President & CEO of the Greater Sacramento Economic Council, Commissioner Manuel Alvarez, Commissioner of the California Department of Business Oversight, and Ciaran McMullan, President & CEO of Suncrest Bank, discuss the different forces at play and programs they are developing. There are lessons in leadership, attracting talent, and public-private partnerships in the approach they are taking, which combines practical solutions and dedication. Troy and Lee offer some thoughts at the end.
28 minutes | 7 months ago
James Robert Lay Part 2: The Power of Narrative and Message
We continue our conversation and broaden the idea of narrative to other areas of the world, especially as impacted by the Covid-19 pandemic. James talks about financial inclusion, big data, and regulation, all from the standpoint of delivering positive messages and then achieving that promise. He also discusses the need for empathy and explanation throughout the hero’s journey. Troy and Lee share their thoughts at the end.
28 minutes | 7 months ago
James Robert Lay Part 1: The Hero’s Journey to Financial Services
James Robert Lay is a branding and marketing expert and author who focuses on financial services and particularly digital financial services. James encourages his clients and the entire industry to change the story around their products and services to highlight common themes from storytelling, such as the hero’s journey, rags to riches, and failure followed by a guide bringing you to success. Even though financial services is increasingly about technology, James emphasizes the human aspects of financial services and the importance of connecting with clients as people rather than portfolios. You are the hero in your financial story!
51 minutes | 8 months ago
Special Episode! SEC Commissioner Hester Peirce. Insights into a regulator's thinking.
Special Episode! SEC Commissioner Hester Peirce. Insights into a regulator's thinking. Before she was nominated for a new term, Hester Peirce, a Commissioner of the U.S. Securities and Exchange Commission, sat down with Troy and Lee for a wide-ranging discussion. Commissioner Peirce provided her thoughts (with the disclaimer that they are her’s alone) on topics including blockchain and cryptoassets, capital formation, the consolidated audit trail and privacy, artificial intelligence and the future of fintech, and areas she believes deserve more focus. Her themes of humility in the regulatory process, analysis of data, and not protecting people out of opportunities provided an overlay for all her comments. We greatly appreciate her work and public service. Crypto Mom delivered! We discuss our reactions at the end.
34 minutes | 8 months ago
Blockchain Entrepreneurs Roundtable, Part 2
Blockchain Entrepreneurs Roundtable, Part 2: Tavonia Evans, Karen Hsu, and Bea O’Carroll, entrepreneurs using blockchain and cryptoassets, continue the conversation with a focus on how to create opportunities and products for underserved communities and the impact of COVID-19 on their businesses and their customer bases. There is also a great sense of community that runs through the entire conversation. For them, this is partially about developing an inclusive ecosystem through the democratization of economics and value. They all seem far away from the perception that blockchain is all about scams. Stay tuned at the end for Troy and Lee’s discussion about what they learned from these dynamic guests. And just a reminder that nothing in this episode is investment advice or advice of any other type.
28 minutes | 8 months ago
Blockchain Entrepreneurs Roundtable, Part 1
Blockchain Entrepreneurs Roundtable, Part 1: Tavonia Evans, Karen Hsu, and Bea O’Carroll, three entrepreneurs using blockchain and cryptoassets in various ways, talk about the joys and challenges of starting a new company, especially in a nascent space. They all have similar motivations of creating inclusion and helping different groups gain access to opportunities, such as financial services. But each has chosen her own business path. Tavonia is building a blockchain ecosystem to help people of color. Karen is using blockchain’s transparency to create analytics products and services. Bea is trading cryptoassets for clients with the goal of bringing them to many more people of all backgrounds and economic means. A lot of what they want to accomplish is consonant with the original goals of blockchain. And just a reminder that nothing in this episode is investment advice or advice of any other type.
45 minutes | 9 months ago
Special Episode! The Digital Dollar Project. Changing notions of money.
Chris Giancarlo (former CFTC Chairman) and Daniel Gorfine (former Director of LabCFTC) join us to talk about making a central bank digital currency (or CBDC) version of the US dollar. The Digital Dollar Project has carved out a large task for itself in trying to bring the dollar fully into the digital realm from the physical realm. There are many implications, from how people will pay for things to how monetary policy in the country will work. One key result could me more financial access and inclusion for those who are unbanked or underbanked. There are also big design questions and issues, such as privacy, law enforcement, payment rails, and how to transition practically to a CBDC. With the Project's recent white paper, our guests and their team tackle these core topics. A fascinating idea and effort that we found inspirational.
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