Tech billionaire Marc Andreessen bet big on Trump. Its paying off for Silicon Valley
News Source : Salon
News Summary
- Marc Andreessen is one of America’s most well-known investors and an outsize figure in the so-called fintech industry.
- His firm has seeded eight companies since 2016 that landed in the crosshairs of the small watchdog agency.
- Some of those inquiries have resulted in consent orders, fines and, for one company, a lifetime industry ban.
- For those eager to reimagine a financial system free from regulation, the new approach is a boon.
- But for the tens of millions of struggling Americans who rely on such apps for loans, cash advances and other financial products, it could be a bust.
For more than a decade, Silicon Valley venture capitalists have poured enormous sums of money into newfangled technology companies seeking to disrupt, and even supplant, the traditional financial sys [+13318 chars]
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