Max Wiethe (The state of financial industry and financial media)

• 00:03:30 What regulation should we employ in the financial industry? Does it make us more safe?
• 00:10:57 How Max got into his current career and what he has learned from his interviewees.
• 00:17:01 Is the world going crazy? Is the 'attentionalism' already changing people and is the financial industry a good showcase for this? Is 'career risk' actually the most important part of financial decision making? How should 'risk taking' work in the financial industry?
• 00:27:00 What is the state of financial media? Why is holding up better than other parts of journalism?
• 00:36:01 Which opportunities are available in the finance sector? Are entrepreneurial opportunities in other sectors of the economy really harder to come by than a few decades ago?
• 00:41:16 Will machines take over everything but marketing and sales? Are humans competitive vs. machines in terms of making complex decisions?
• 00:56:16 Will we see the 'rise of independent curators' in the financial industry?
• 01:10:30 Have preferences for earning money changed? Is quality of life more important than high earnings?
• 01:20:11 Will exploring new planets (and the possibilities of discovering assets) change the society on earth forever?

 

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Max Wiethe is an editor and journalist at Real Vision where Max hosts a weekly series of interviews with financial industry heavyweights.

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I actually saw something yesterday, a guy who was talking about like, go on zero hedge and there are articles that are promoting stocks. And he actually, he said back in the 80s, he got a call or his dad got a call from basically a boiler room broker telling him that it was the height of Billy Crystal, if you know the comedian Billy Crystal, his career, he said, this company is making the next Billy Crystal movie and got him to invest $2,000 and he ended up losing all of his money. Not a ton of money, but in the 80s, $2,000 was a good chunk of money and he was basically saying these websites where you can promote a stock and then they'll just have a little disclaimer down at the bottom, it's like so and so may have received compensation to write this article. Like that's the same guy as the people in the Wolf of Wall Street who were calling you and saying like, I've got Aerotine international investment and like when you see it on a website, it doesn't feel like it's a broker because it's not a broker, but that person is being compensated to write that article about that stock and if you can't tell, if you can't see those little things, you might not understand the biases of that information. So there's lots of things like that that I think are important. I mean, happy to just talk about content in general and how I think about it. I think you'll find... I want to get into this. Yeah, I said I think you'll find once you get me going, we will have no problem filling time. Yeah. Well, we don't want to just fill time, but I'm really curious about your insight and you've seen the industry from a different point of view than most of us. And maybe you can just go there right now. One thing that a lot of people in the financial industries or industry are very much involved with it, but they're also passionate to an extent with it is regulation, right? So there is a ton of amount of regulation with financial industry. It seems so easy to innovate new cars and just come out with something completely new. And over the century, the la