Howard Lindzon asserts Web3 tokens are securities and face strict regulation
Howard Lindzon · Disruptive Innovation & Unbundling The S&P 500 With Howard Lindzon | Where It Happens · Nov 11, 2021 · at 36:46
Howard Lindzon, founder of StockTwits and early Robinhood investor, discusses crypto regulatory debates and asset allocation.
0:00 / 0:21exact quote · 21.1s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Web three comes along, which is basically just a new stock market, right? And which is why the argument about whether the securities or not is silly. They're just stock, like they're securities for sure. People are buying and selling them, and everybody's arguing about semantics. They're just security. So, so eventually they got to be regulated, or called the same thing as what stocks are.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Howard Lindzon
Howard Lindzon describes modern retail fintech as the unbundling of Vanguard
“So basically all that's happened in the last 12 years and beyond is the unbundling of Vanguard. Right? I want to own the S&P, 400, less these six destructive, I'll own the S&P, two 94.”
Howard Lindzon: Robinhood wouldn't exist if Vanguard hadn't hoarded its technology
“There should be no Robin Hood. There should be no any of this stuff. It should all still be CNBC and Vanguard and Goldman Sachs. They just didn't give their technology. They hoarded the technology.”
Howard Lindzon calls passive investing a myth because index funds rebalance
“There's no such thing as passive investing. Vanguard is a very active portfolio. Every month or quarter, they kick out poorly performing companies, so it's a quant fund. So people are really buying an active portfolio. It's just packaged as passive.”
Howard Lindzon argues community and media businesses are not VC-fundable
“I don't think community is a VC fundable idea, much like media has been, in general, a terrible, these, we need community, we need media, is that, does that mean it should be VC funded? No”
Howard Lindzon warns startups building on third-party platforms risk being screwed
“If you build on someone's platform, or if you build on someone's roads, or if you build inside, you know, in someone's backyard, be prepared to be sued or screwed.”
Howard Lindzon compares modern retail trading to Roman gladiator entertainment
“Speculation has become entertainment, and so gladiators, when the Romans had all this time, And they were fighting wars and moving people. People in Rome just said, you know what? We got a lot of fucking time. Let's have people kill each other and we'll watch.…”