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slash disclosures. Welcome to the A16C podcast. I'm Michael Copeland.

Technology companies are running hard at almost every part of the traditional banking business,

from raising funds to moving money from one person to another. And as you would expect,

that has meant change, both in terms of the banking services that are available to all of us

and the pricing of those services. It begs the question of what role banks play going forward,

and whether tech companies are partners or competitors or some combination to the players

in the traditional banking business. And finally, if banking gets unbundled by tech,

if there is a choice of services,

what fees and at what price will consumers be willing to pay?

A16Z's Alex Rampel leads a discussion with

TransferWise executive founder, Christo Carman,

and Tilt founder and CEO James Peshara,

on the future of money and monetization.

This discussion occurred as part of the firm's UK Tech Summit.

Alex and Christo start things off.

So one thing, just given that the topic is the future of money. How do you think about regulation? Because one

thing that I find very interesting is that how did Airbnb and Uber and Lyft get started? They

didn't get started by embracing local laws. They almost flouted them. Because if you can imagine

Airbnb, if they were starting tomorrow, and they said, okay, we're going to go to every local town

...