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Of course A16Z is enthusiastic about the creation of a financial system not subject to democratic oversight.
by glutamate 5y ago
Of course A16Z is enthusiastic about the creation of a financial system not subject to democratic oversight.
- sneak 5y ago…and entirely opt-in.
- timdaub 5y agoTo me that's a surprising premise and an even bigger surprise in the conclusion. What makes you think A16Z wants to create a financial system without democratic oversight?
- prestigious 5y agoI know I am!
- SkyMarshal 5y agoOur current financial system has, at best, only a veneer of democratic oversight, evidenced by decades of deregulation and the inability of the government to sensibly reregulate it after the GFC. The banking system pretty much owns politicians cradle-to-grave - you need massive political donations to get elected, then lobbyists have super-access to politicians while in office, then politicians are offered lucrative revolving door jobs and board seats on leaving office.
- glutamate 5y agoAgree. crypto will not fix any of that.
- sergefaguet 5y agoA lot of people are excited about that. For good reason too. The very idea that two people exchanging private value should be subject to “democratic oversight” is a totalitarian nightmare.