Hello and welcome to Danny in the Valley before we get to today's show an announcement.

June 21st, Mark it down. We have a new spin-off podcast that is going live on that day, June 21st.

It is called The Pivot. It is a docu series on Silicon Valley. Think of it as a set of

mini documentaries. And if you are a sports fan, it's like 30 for 30, but about tech. So yeah, it's not a

sit-down interview show like this one. It's more of a produced series of narrative kind of stories. And I,

along with my producer Chica, big shout out to her, have been working on this for months. In fact,

that is why I'm in London this week. We've been in the studio, recording, getting the first few

episodes ready for prime time.

I'll be providing updates over the coming weeks.

We'll have a trailer for you shortly.

So if you like this show, you're going to really like the pivot.

I'm excited to share it with you and get it out there.

But now, on to today's show.

Yo, technology.

What is it all about?

There's actually two banking systems in America.

There's one that rewards you for using it.

And then there's another that charges you huge amounts of fees.

There were, I think last year, $320 billion in transactions that went through

things like cash checking, pawn shops, etc., etc. Like, that's a huge volume. And then of that,

more than $150 billion in fees. So translating that to someone that lives in World One, that's like,

I have $100,000 in my bank account.

...