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True Crime, banking edition

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Manage episode 439474942 series 3585666
Content provided by Patrick McKenzie. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Patrick McKenzie or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In this episode of Complex System, the tables are turned and media entrepreneur/investor Erik Torenberg interviews Patrick McKenzie (patio11) about the intricacies of the financial system, focusing on banking, money laundering, and regulatory compliance. They discuss several of Patrick’s essays from Bits About Money.

Patrick discusses the three stages of money laundering - placement, layering, and integration - and how the financial system has been deputized to act as law enforcement. The conversation touches on the unintended consequences of strict regulations, including their impact on economic growth and financial inclusion.

Full transcript available here: https://www.complexsystemspodcast.com/true-crime-banking-edition

Sponsors: Safebase

Ready to save time and close deals faster? Inbound security reviews shouldn’t slow down your team or your sales cycle. Leading companies use SafeBase to eliminate up to 98% of inbound security questionnaires, automate workflows, and accelerate pipeline. Go to safebase.io/podcast

Links:

Seeing Like a Bank https://www.bitsaboutmoney.com/archive/seeing-like-a-bank/
KYC and AMI: https://www.bitsaboutmoney.com/archive/kyc-and-aml-beyond-the-acronyms/
Money Laundering and AML Compliance: https://www.bitsaboutmoney.com/archive/money-laundering-and-aml-compliance/
Turpentine Media: www.turpentine.co
Turpentine network for Tech Founders & Execs: www.turpentinenetwork.co

Twitter:
@patio11

@eriktorenberg


Timestamps:

(00:00) Intro

(00:33) Seeing like big tech

(06:31) AI, centralization, and information processing

(09:23) Crypto vs AI: Thiel's perspective

(10:30) Seeing like a bank: ledgers and customer service

(19:57) Future of banking customer service

(22:27) Societal goals vs banking efficiency

(28:58) Sponsors: WorkOS | Check

(31:15) Understanding KYC and AML

(35:16) Money laundering explained

(42:28) Financial system as law enforcement

(51:41) Ideal changes in the financial system

(52:34) Wrap

Complex Systems is part of the Turpentine podcast network.

  continue reading

42 episodes

Artwork
iconShare
 
Manage episode 439474942 series 3585666
Content provided by Patrick McKenzie. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Patrick McKenzie or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

In this episode of Complex System, the tables are turned and media entrepreneur/investor Erik Torenberg interviews Patrick McKenzie (patio11) about the intricacies of the financial system, focusing on banking, money laundering, and regulatory compliance. They discuss several of Patrick’s essays from Bits About Money.

Patrick discusses the three stages of money laundering - placement, layering, and integration - and how the financial system has been deputized to act as law enforcement. The conversation touches on the unintended consequences of strict regulations, including their impact on economic growth and financial inclusion.

Full transcript available here: https://www.complexsystemspodcast.com/true-crime-banking-edition

Sponsors: Safebase

Ready to save time and close deals faster? Inbound security reviews shouldn’t slow down your team or your sales cycle. Leading companies use SafeBase to eliminate up to 98% of inbound security questionnaires, automate workflows, and accelerate pipeline. Go to safebase.io/podcast

Links:

Seeing Like a Bank https://www.bitsaboutmoney.com/archive/seeing-like-a-bank/
KYC and AMI: https://www.bitsaboutmoney.com/archive/kyc-and-aml-beyond-the-acronyms/
Money Laundering and AML Compliance: https://www.bitsaboutmoney.com/archive/money-laundering-and-aml-compliance/
Turpentine Media: www.turpentine.co
Turpentine network for Tech Founders & Execs: www.turpentinenetwork.co

Twitter:
@patio11

@eriktorenberg


Timestamps:

(00:00) Intro

(00:33) Seeing like big tech

(06:31) AI, centralization, and information processing

(09:23) Crypto vs AI: Thiel's perspective

(10:30) Seeing like a bank: ledgers and customer service

(19:57) Future of banking customer service

(22:27) Societal goals vs banking efficiency

(28:58) Sponsors: WorkOS | Check

(31:15) Understanding KYC and AML

(35:16) Money laundering explained

(42:28) Financial system as law enforcement

(51:41) Ideal changes in the financial system

(52:34) Wrap

Complex Systems is part of the Turpentine podcast network.

  continue reading

42 episodes

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