Naval On How Bankers Have Effed Over Society

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On The Joe Rogan Experience podcast, Naval Ravikant gave his thoughts on the drawbacks and advantages of capitalism. In terms of one of the drawbacks, Naval talks about how bankers have essentially effed society over. Here is a direct quote from the clip. You can also watch the video—the exchange is from 40:43 to 41:30.

The bankers have really, you know, raped society and the rest of us are suffering for it. They have essentially taken huge risks where they privatized the gains and socialized the losses. So when it fails it they get bailed out and bankrupt everybody else.

Naval Ravikant on Joe Rogan Experience #1309

In addition to the banking industry, Naval also lists monopolies and crony capitalism as the problems of capitalism that should be fixed.

You can watch the clip here:

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