You may not know that hundreds of thousands of people have millions locked up in a FinTech disaster. When middle-man company Synapse went bankrupt it locked up any funds with many popular FinTech products including Yotta, a sweepstakes app that also aims to help people gamify saving money. Will Yotta (and other FinTech companies caught up in this mess) be able to get their money out to their users? What does this mean for the future? Is there more legislation coming to prevent this in the future? While this story is quickly moving and new information comes out daily, we'll share what we know and what this means for your money.
...and what does FinTech have to do with the history of banking we're going to cover later in the show? Our mentor today, Prada deputy chairman, historian, and former Goldman Sachs head of operations in Russia, Paolo Zannoni joins us. He shares that while this all feels new...it's actually the same history playing out over and over again. You'll learn today about the roots of banking (it sprung from Piza, of all places), the relationship between banks and the creation of credit, how minting money actually helped speed up the creation of banks, and how banks and governments have worked hand-in-hand for centuries.
Finally, in our Better Call Saul....Sehy and OG segment, a Stacker mom asks us about helping her twenty year old daughter create some savings goals. It seems the young woman is great at stashing money away, but is struggling to earmarked it toward anything in particular. We always say, "Begin with the end in mind," but what if you truly don't know what "the end" looks like?
Of course, we'll have a back porch to remember, Doug's trivia (also always memorable), and more! And as always...the last sponsor read is before the 20 minute mark, so the rest of the show is ad-free. Thanks to our sponsors for helping us keep on keepin' on!
FULL SHOW NOTES: [ Ссылка ]
Deeper dives with curated links, topics, and discussions are in our newsletter, The 201, available at [ Ссылка ]
Enjoy!
0:00:00 - Intro
0:02:45 - Headline
0:16:12 - Doug’s Trivia
0:19:03 - Featured Guest - Paolo Zannoni
0:52:17 - Better Call Saul...Sehy & OG
1:01:09 - Back Porch
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