Slate Money - The Super App Dream
Slate Money
Slate Podcasts
4.1 • 1.1K Ratings
🗓️ 31 July 2021
⏱️ 53 minutes
🧾️ Download transcript
Summary
This week, Felix Salmon, Emily Peck, are joined by Cezary Podkul of ProPublica to talk about his in-depth article on unemployment insurance fraud, Robinhood’s IPO and ambitions of being a “super app,” and everything that’s going on with private companies in China and the stock market in Hong Kong.
In the Plus segment: Payment for order flow.
Mentioned in the show:
“How Unemployment Insurance Fraud Exploded During the Pandemic” by Cezary Podkul for ProPublica
“U.S. SEC says Chinese IPO hopefuls must provide additional risk disclosures” by Echo Wang, Scott Murdoch, and Kane Wu for Reuters
“Hong Kong's Status as a Financial Center Seems Safe” by Felix Salmon for Axios
“The Time Tax” by Annie Lowrey for The Atlantic
Email: slatemoney@slate.com
Podcast production by Jessamine Molli.
Twitter: @felixsalmon, @EmilyRPeck
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | Hello and welcome to the super app dream episode of Slate Money, |
| 0:18.4 | your guide to the business and finance News of the Week. I'm Felix |
| 0:22.0 | Salmon of Axios. I'm here with Emily Peck of Fundrise. Hello. And calling in from Hong Kong, |
| 0:31.4 | we have an incredibly special guest. Welcome, Cesari Podkul. Hello, thanks for having me. |
| 0:36.5 | Cisari, who are you? And tell us what brings you on this show. I'm a financial journalist. I write for ProPublica, and I just did a piece on unemployment insurance, which you and I have both taken a look at that. So thanks for having me. So we're going to talk about unemployment insurance fraud, which is a big thing. And we'll talk a lot about just how big it is. |
| 0:55.6 | We are going to talk about China, and it's cracked down on private companies and what has been |
| 1:01.1 | going on in the Hong Kong stock market and what the SEC is doing with regard to Chinese |
| 1:07.0 | companies. |
| 1:07.5 | There's a lot of action going on with that. |
| 1:09.6 | Is China a communist country? |
| 1:12.1 | Is it a capitalist country? We're going to get into that. And we are also going to talk about |
| 1:16.6 | Robin Hood, which went public this week in a slightly disappointing IPO. We're going to talk |
| 1:21.7 | about that. We're going to talk about its business. We're going to talk about the dreams of |
| 1:25.1 | being a super app like they have in China and in Hong Kong. |
| 1:28.6 | And in Slate Plus, which you can subscribe to for an introductory rate of just $1. |
| 1:33.0 | We are going to go even further into Robin Hood and its practice of payment for order flow, which may or may not wind up getting abolished if some members of Congress have their way. |
| 1:42.5 | All of that coming up in slate money. |
| 1:47.5 | So, Cesari, you wrote an amazing thing on unemployment insurance this week, which we are going to |
| 1:53.6 | talk about. But of course, we emailed you and said, will you come on the show to talk about |
| 1:59.6 | unemployment insurance? And it just so |
| 2:02.2 | happens you're in Hong Kong. And it just so happens that Hong Kong stocks are way in the news right now, |
| 2:08.0 | both in Hong Kong and in America. So this is like doubly fortuitous. And I think we should probably |
... |
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