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Money Talks from The Economist

Money Talks: The Empire of Son

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 23 June 2021

⏱️ 30 minutes

🧾️ Download transcript

Summary

How has the world's biggest technology investor Softbank ridden the wave of the pandemic?

And, the surging threat of cyber-heists—the methods and menace of the new bank robbers. Also, survival of the fittest in economic theory.

Simon Long hosts 


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Transcript

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0:00.0

It's every man for himself. Only those who are ruthless will succeed. Only the

0:06.9

biggest and strongest will survive. That's the law of the jungle. That's the way

0:12.9

it's always been. But the rules of business and society have changed. Innovators

0:18.7

are now top of the food chain. Power has no sex. Prejudice has no place. Strength

0:25.7

sex is now measured in agility. Tradition is history. The law of tomorrow. Discover

0:33.7

what you can do with it today at Mishkond.com. Mishkond Araya, its business, but it's personal.

0:46.7

Hello, this is Money Talks on Economist Radio. Our weekly podcast on the markets, the economy

0:52.5

and the world of business. I'm Simon Long. Today, they don't well banks the way they used

0:59.5

to. Now you can just be sitting like at the other corner of the world and as long as you're

1:03.5

managed to bridge into the IT systems, then it's possible that you manage to get away with

1:07.5

a lot of data or a lot of money. We investigate the rise in cyber bank robberies. And should

1:13.5

economists take more inspiration from Charles Darwin's ideas about the natural world?

1:18.5

Economists have for years neglected an evolutionary perspective on the way the economy works.

1:28.5

First, for markets in general and tech companies in particular, the pandemic has been a giddy ride.

1:36.5

When lockdowns were first announced, some firms like WeWork, the Shared Office giant, took big hits

1:43.5

as did ride hailing apps. But the sudden shift to working online from home has been a

1:48.5

bonanza for other tech firms. One company that's truly been riding

1:53.5

this storm is SoftBank, the world's biggest technology investor by far. In the past four years,

2:00.5

the Japanese company has poured $90 billion into tech across five continents. In companies

2:07.5

ranging from pre-revenue startups to big names such as Uber and Bike Dance, the owner of TikTok.

2:14.5

It also has a big stake in DD, the Chinese ride sharing app featured on last week's money talks.

2:20.5

But between February and March last year, SoftBank's share price plunged by over 50%.

...

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