Adena Friedman

And it's also what the broader banking system and VC investors, investment, that's what we're here to do is to really put capital to work in these defining moments to catalyze growth or to catalyze change.

And it's also what the broader banking system and VC investors, investment, that's what we're here to do is to really put capital to work in these defining moments to catalyze growth or to catalyze change.

And at the same time, we have to recognize the fact that we have another moment, which is we have been putting more and more obligations on those companies and banks and brokers that are the ones that are going to be the drivers of that change. And we have to rethink that.

And at the same time, we have to recognize the fact that we have another moment, which is we have been putting more and more obligations on those companies and banks and brokers that are the ones that are going to be the drivers of that change. And we have to rethink that.

And at the same time, we have to recognize the fact that we have another moment, which is we have been putting more and more obligations on those companies and banks and brokers that are the ones that are going to be the drivers of that change. And we have to rethink that.

So we do think that this notion of smart regulation, reframing what regulations there to achieve, outcome oriented, getting rid of regulations that are no longer relevant, Changing the mindset of the regulators from tick-the-box, input-driven regulation to output, what am I actually trying to drive towards regulation, will unleash an enormous amount of capital into the system.

So we do think that this notion of smart regulation, reframing what regulations there to achieve, outcome oriented, getting rid of regulations that are no longer relevant, Changing the mindset of the regulators from tick-the-box, input-driven regulation to output, what am I actually trying to drive towards regulation, will unleash an enormous amount of capital into the system.

So we do think that this notion of smart regulation, reframing what regulations there to achieve, outcome oriented, getting rid of regulations that are no longer relevant, Changing the mindset of the regulators from tick-the-box, input-driven regulation to output, what am I actually trying to drive towards regulation, will unleash an enormous amount of capital into the system.

So we actually did this study with the banks. And we said, even if you could just take down the risk and compliance function of the global banks by 10% to 20%, it actually allows them to retain 20%. 25 to 50 billion more in earnings.

So we actually did this study with the banks. And we said, even if you could just take down the risk and compliance function of the global banks by 10% to 20%, it actually allows them to retain 20%. 25 to 50 billion more in earnings.

So we actually did this study with the banks. And we said, even if you could just take down the risk and compliance function of the global banks by 10% to 20%, it actually allows them to retain 20%. 25 to 50 billion more in earnings.

And if they then leverage that and go out to and drive that into the market, that's 500 billion to a trillion dollars of incremental capital that they could bring into the markets just by making them more efficient. So that's the use of technology, changing the regulatory framework, and then unleashing that technology to allow us to deploy more capital into the market.

And if they then leverage that and go out to and drive that into the market, that's 500 billion to a trillion dollars of incremental capital that they could bring into the markets just by making them more efficient. So that's the use of technology, changing the regulatory framework, and then unleashing that technology to allow us to deploy more capital into the market.

And if they then leverage that and go out to and drive that into the market, that's 500 billion to a trillion dollars of incremental capital that they could bring into the markets just by making them more efficient. So that's the use of technology, changing the regulatory framework, and then unleashing that technology to allow us to deploy more capital into the market.

So it's a pretty exciting moment, but it's a moment where we have to grasp it and we have to take hold of it.

So it's a pretty exciting moment, but it's a moment where we have to grasp it and we have to take hold of it.

So it's a pretty exciting moment, but it's a moment where we have to grasp it and we have to take hold of it.

Well, I think first you have to listen.

Well, I think first you have to listen.

Well, I think first you have to listen.