Quote By Naval Ravikant

Getting in the middle of financial transactions is a regulatory minefield.

Naval Ravikant

Financial Transactions Regulations

Naval Ravikant

Entrepreneur and Investor

Born: November 5, 1981

Naval Ravikant is an entrepreneur and angel investor promoting personal growth.

Explanation Of The Quote

Naval Ravikant critiques the complexities of navigating regulatory environments in financial transactions. He highlights how intermediaries face significant compliance challenges. This quote inspires entrepreneurs in the fintech space to prioritize legal frameworks while innovating. Ravikant’s wisdom emphasizes the importance of understanding regulations to create sustainable financial platforms.

More Quotes By Naval Ravikant

On AngelList, we get 100 new companies created a day. That's an insane flood.

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All of the marketplaces like Prosper, LendingClub, etc., as they get larger, they flip from being retail capital to institutional capital.

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Unlike a normal venture fund, we never stop raising capital. We can always absorb new capital on the platform and into the next deal as long as we feel it won't distort the allocation and the pricing.

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Startups are constantly raising money, sometimes before they have even hired a lawyer.

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Rules that may be easy for Wall Street are a death sentence for startups. They are easy to break accidentally and the penalty for noncompliance is severe.

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When the venture industry started, it was enough to just have money and then it was enough to sort of have this big fuzzy brand. But now startups are getting a lot smarter.

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VC firms that don't have a brand are going to struggle. Because there is a lot of money out there, you need to have a point of view, a brand, to really add value. You can't just talk about it, and say well, we are smart people.

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One philosophy I have at AngelList is I would rather have someone working on the wrong thing and do it their way and be motivated, than working on the right thing and do it my way and not be motivated.

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We just think it's important that everybody have some technical training and background. Even though not everybody is coding but even our deals team and our designers all have GitHub accounts and they go into the code base.

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Just as the web democratized publishing and development, Bitcoin can democratize building new financial services. Contracts can be entered into, verified, and enforced completely electronically, using any third-party that you care to trust, or by the code itself.

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People come in. They are too gung ho. They invest too much money in things they don't know. They lose it and then they clam up and stop investing. Then they miss the actual boom. That's the nature of the market.

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Nation states that are used to imposing capital controls will face a quandary: ban cryptocurrencies and live in the technology dustbin; enable them, and this virus - this religion, this protocol - will enable the free flow of money and language, along with packets, around the globe.

Naval Ravikant