Seems to me that what Andreessen was really mad about was the CFPB forcing his portfolio companies that committed consumer fraud to return money to their customers. He also lied about the CFPB doing debanking, they don’t have that power.
While debanking may be a problem, there’s a false populism in these disingenuous VCs, pretending that their troubles are the same as everyone else. These guys want to operate in grey areas that enable laundering, illegal gambling, buying/selling contraband, and straight up rug pulls, and not be subject to any risk or oversight.
While debanking may be a problem, there’s a false populism in these disingenuous VCs, pretending that their troubles are the same as everyone else. These guys want to operate in grey areas that enable laundering, illegal gambling, buying/selling contraband, and straight up rug pulls, and not be subject to any risk or oversight.