Comments by "Samson Soturian" (@samsonsoturian6013) on "Yotta Bank u0026 The Problem with Fintech!" video.

Is it just me or is everything influencer promoted not worth buying? Even good products like what Patrick might promote aren't worth asking price, whether it's 70 bucks for an aluminum wallet or 16 bucks a month for a VPN we don't really need. And why would I sign up for My Heritage when Ancestry already exist and i know from experience the service is good?
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I understood they could remove you for any reason except ones considered discrimination, hence why assholes are always accusing people of it
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Greedy bastards are anti-regs when they're a startup/owner, pro-reg when they're a customer/worker, and pro-intervention when they're a politician
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I'm a big advocate of de-regulation, but "won't let me get rich faster" or "won't let me take more risks" will never be an acceptable reason for removing rules.
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To be fair, the bank they promoted didn't break, it was the IT guys working for them who broke, even so people should have known a startup wasn't a safe place to bank when there are hundreds of century old banks to choose from
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SBF got liquidated. Company dissolved, money given to depositors
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That is called a Ponzi scheme. And no, no one robbed this bank
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They technically have it, they just don't know who owns what. And banks don't actually move physical dollars, it's all stored in the Fed's vaults, so when a bank forgets who they owe and who owes them, the money has been erased.
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@SusCalvin John McAfee doesn't speak for libertarians. You're thinking greedy bastards, because greedy people are anti-government when in private business and pro-government when in public business
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@planescaped negative selection bias. Like the companies who need VC money since real baks turn them away
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@DangerB0ne I'm not familiar with banking regs to say what can be trimmed away or reorganized or what can't, but I can speak of bureaucracy hells I'm familiar with
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He isn't even a billionaire. He's a ponzi schemer whose wealth is from arbitrary valuations of the worthless startups he's involved with
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He's suppressing his rage for authority figures
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Of course, the founder of incompetent/bankrupt fintech startup dodging liability is "an immigrant."
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The FDIC follows the letter of the law, it just takes years for the regulators to catch up with startup idiocy. And Yotta was a victim too, they lost all their money too.
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@maxmeier532 not always true. If you are selling things people want but don't need you can always tempt them
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@sznikers The thing about software is almost all the costs are in development and marketing, hence why the asking price varies so much
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I don't know all the rules, but there are thresholds that trigger manual review when you cross them
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@KevinLyda I could give you a list of regulations that could be removed with zero real world impact, a lot of these rules we have paperwork for but no one follows anyway
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@zombievac That's not what I said. I said those are very sus reasons for wanting rules removed.
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@SusCalvin Every year, everyone ignores that rule and no one cares. And no, I'm talking about rules that do nothing except make the appearance of doing something
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@SusCalvin no one said all regs were useless. Obviously companies making explosives have a lot of rules so that their workers don't accidentally kill themselves. But just as often there's a rule but no one knows why it exists. I was once turned away from donating blood because I didn't live in the county the hospital was in
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Depends what part of Europe you mean. Some EU states have minimal regs while others have thick files for things as simple as building permits. Germany is the worst offender, because like Norway the have rules on stupid stuff like approved baby names and to sort your own garbage, but Germany has their own local, state, and national regs that all overlap and have their own processes.
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