Chapter
The future of financial services and the impact of data privacy on individuals
1:43:15 - 1:50:16 (07:01)
Financial services are becoming more accessible thanks to FinTech, however, data privacy should be a major concern for individuals to avoid a Chinese-style social credit system where behavior is heavily monitored.
Clips
Homeownership can lead to increased leverage, illiquidity, and a drain on resources due to insurance and mortgage payments, leaving little else on a homeowner's balance sheet.
1:43:15 - 1:44:23 (01:07)
Summary
Homeownership can lead to increased leverage, illiquidity, and a drain on resources due to insurance and mortgage payments, leaving little else on a homeowner's balance sheet.
ChapterThe future of financial services and the impact of data privacy on individuals
Episode#239 – Niall Ferguson: History of Money, Power, War, and Truth
PodcastLex Fridman Podcast
FinTech is helping to reduce transaction costs, bring more people into the financial system, and take power away from oligopolistic financial services providers, leveling the playing field for everyone in society.
1:44:23 - 1:46:53 (02:30)
Summary
FinTech is helping to reduce transaction costs, bring more people into the financial system, and take power away from oligopolistic financial services providers, leveling the playing field for everyone in society.
ChapterThe future of financial services and the impact of data privacy on individuals
Episode#239 – Niall Ferguson: History of Money, Power, War, and Truth
PodcastLex Fridman Podcast
The world needs to shift towards a privacy default regime where data is vaulted on our devices and we choose when to release it, instead of creating a Chinese style social credit system.
1:46:53 - 1:50:16 (03:23)
Summary
The world needs to shift towards a privacy default regime where data is vaulted on our devices and we choose when to release it, instead of creating a Chinese style social credit system. In the book, Doom, the Politics of Catastrophe, the author talks about how disasters in human history can be mitigated by making privacy the default.