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Novara Media

Downstream: The Plan is to Make You Permanently Poorer w/ Gary Stevenson

Novara Media

Novara Media

Philosophy, News, Politics, Society & Culture

4.81.4K Ratings

🗓️ 11 October 2022

⏱️ 92 minutes

🧾️ Download transcript

Summary

In 2011, while working as a City trader, Gary Stevenson joined the ranks of the ultra-rich with a single bonus cheque. Not long after, he was named one of Citibank’s highest-performing traders worldwide. Stevenson made millions for his employer by betting on one thing: that inequality would worsen and living standards would fall. It made […]

Transcript

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0:00.0

Everybody knows that inequality is getting worse.

0:11.0

Well, almost everybody.

0:12.0

Anybody serious?

0:13.4

Anyway, for Gary Stevenson, that is the essential trend,

0:17.8

not just the last 15 years, the next 15 years too.

0:20.8

Not that long ago, Gary was one of the most successful traders

0:24.2

on the planet.

0:25.5

Now he's a campaigner around inequality, though.

0:28.6

He still does the occasional trade as well.

0:31.6

An amazing guy with really interesting insights

0:34.8

as to what happens next.

0:37.2

I really enjoyed this conversation.

0:41.2

Gary, it's great to have you joining us on Downstream.

0:43.3

Thank you.

0:44.6

We've got a lot to talk about.

0:46.3

We'll start right from the beginning.

0:47.6

H-22 in 2008, you got a job as a trader at City Group

0:52.8

in Gary Wharf within two years

0:54.8

you made your first million pounds.

0:56.8

That's a position that a lot of young people aspire to,

0:59.0

but you started from a very humble beginning.

1:01.3

So can you walk us through your story

...

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