Slate Money - Digital Banks are Doomed
Slate Money
Slate Podcasts
4.1 • 1.1K Ratings
🗓️ 13 August 2022
⏱️ 55 minutes
🧾️ Download transcript
Summary
This week, Felix Salmon, and Elizabeth Spiers are joined by Edmund Lee of the New York Times to discuss why it’s so hard to understand what inflation actually is, why Goldman Sach’s Marcus and other digital banks just aren’t working, and the surprising sale of Reorg for a cool $1.3 billion.
In the Plus segment: Elon Musk selling tons of his Tesla stock.
Podcast production by Jessamine Molli.
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Hello! Hello. Welcome to the Digital Banks episode of Slate Money, |
| 0:18.0 | your guide to the Business and Finance News of the Week. |
| 0:22.0 | I'm Felix Hammond of Axios, my colleague Emily Peck of Axios, his off on vacation. |
| 0:27.0 | As normal though, Elizabeth Spires is here. |
| 0:30.0 | Hello. And much more excitingly, apologies Elizabeth, Ed Lee is here. Edmund Lee welcome, welcome back I should say. |
| 0:39.0 | Thank you very much. It's always fun to be here. We love having you on this show. You can be |
| 0:43.6 | Emily for today. I can do a pale imitation. Yeah, sure, certainly. You used to be a |
| 0:48.4 | media reporter. You now have some high-falutin job at the New York Times that |
| 0:52.2 | no one understands. |
| 0:53.0 | But yeah, but that's how it works. |
| 0:54.6 | So you enter management and then you have sort of this very fuzzy, |
| 0:58.2 | fungible, you know, job description. |
| 1:01.5 | So you have a fuzzy fungible job at the New York Times, but you used to be a media reporter. I know you're still a media report at heart, so we are going to talk about media deals. We're going to talk about the way the media covers the inflation data and what we can learn from that, |
| 1:17.8 | what it means politically and economically. |
| 1:19.8 | And we're going to talk about Neobanks. |
| 1:22.3 | We're going to talk about Goldman Sachs, Marcus, and all of the |
| 1:25.2 | other digital banks and we're going to talk about my thesis that there really haven't been |
| 1:29.1 | any successful ones. It's all coming up and Slate Plus on Tesla on this week's Slate Money. |
| 1:37.0 | This episode is brought to you by Revolute. |
| 1:41.0 | Revolute is your perfect travel companion for all things money. |
| 1:44.3 | You can spend in over 150 currencies with great exchange rates and withdraw from |
| 1:49.4 | ATMs all over the world with no charges from Revolute within your plan allowance. |
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