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TRASHFUTURE

*PREVIEW* Divine Secrets of the Softbank Sisterhood

TRASHFUTURE

TRASHFUTURE

Comedy

4.7935 Ratings

🗓️ 14 May 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

There's a ticking time bomb in the economy. No, a DIFFERENT ticking time bomb. This week, Riley, Milo, Hussein, and Alice discuss the balance-sheet chicanery of a mysterious Australian plane enthusiast that is slowly but surely imploding every SoftBank investment vehicle. We would normally say it's a laugh riot, but this one... maybe not so much. If you want to hear the full episode, get it on Patreon here: https://www.patreon.com/posts/37079940 If you want one of our *fine* new shirts, designed by Matt Lubchansky, then e-mail trashfuturepodcast [at] gmail [dot] com. £15 for patrons, £20 for non-patrons, plus shipping.   *WEB DESIGN ALERT* Tom Allen is a friend of the show (and the designer behind GYDS dot com). If you need web design help, reach out to him here:  https://www.tomallen.media/

Transcript

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0:00.0

Well, here's the thing, Alice, right? Uber isn't a tech company. It's an employment,

0:19.2

it's an employment rights circumvention platform. Airbnb is not a tech company. it's an employment, it's an employment rights circumvention platform. Airbnb's not a tech

0:22.5

company. It's a property and rent tenants rights circumvention platform. And just like this,

0:32.5

Green Sills is not a tech company. It's a financial regulation circumvention platform.

0:36.6

None of these tech companies are actually tech companies. And like there is such a thing as a tech company. It's a financial regulation circumvention platform. None of these tech companies are actually

0:38.5

tech companies. There is such a thing as a tech company. It's just most of them you probably

0:42.8

haven't heard of because they do some quiet, competent B2B service. And then get immediately

0:48.7

bought out by Google. Yeah. You've probably never heard of most of the actual tech companies.

0:56.1

But anyway. So all they're doing like weird border racism using facial recognition. So, human rights

1:02.9

regulation, human rights circumvention. So where we are, let's use this as a worked example.

1:11.3

You're Vodafone.

1:12.1

You agree to pay a supplier 100 pounds in 90 days.

1:14.9

Green sill pays your supplier 98 pounds today.

1:17.9

How does Green sill pay your supplier?

1:19.8

They have to, and this is where we talked about, that financialization, issue a financial

1:23.4

instrument themselves in order to pay that supplier today.

1:26.7

So remember, they're not a,

1:27.7

they're not a bank, but they can sign a contract with, say, a credit Swiss fund. So all the

1:35.7

big banks now have supply chain finance funds because guess what? This has become massively

1:39.4

popular in the last couple of years. They can sign a contract, a contractor, which is a promise to pay

1:44.8

that fund. So essentially what they do is they set themselves up as the middleman. So they,

1:49.5

Greenill doesn't necessarily have an incentive to choose good investments. They just have an

...

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