This episode, CEO and Co-Founder of Chargebacks911 Gary Cardone talks about the benefits of starting a company during a recession, the digitalization of money, and the governance around Bitcoin.
Gary Cardone is the CEO and Co-Founder of Chargebacks911, a comprehensive fraud mitigation, risk management, and loss prevention company, serving card-not-present merchants in global markets.
Gary runs multiple other businesses across four different large industries (energy, real estate, financial services, and web3.0).
Each of these businesses Gary started while their industry was undergoing radical disruption or change due to regulatory, economic or technological stresses.
This disruption offered Gary opportunities to build large companies in the midst of dynamic change and he became a critical player in each industry. Here are a few of the topics we’ll discuss on this episode of Cache Flow:
- The benefits of starting a company during a recession.
- The difference between Bitcoin and other cryptocurrencies.
- The digitalization of money.
- Why financial markets are out-of-date.
- The disruption period we are currently in.
- Fraud solutions for e-commerce companies.
- How long it takes to track crypto.
- The problems with Facebook’s governance.
- The governance around Bitcoin.
Resources:
Connect with Gary Cardone:
Connecting with the host:
- Brian Dainis on Linktree
Quotables:
- 23:28 – “To think that our financial markets aren’t going to also be digitilized and more efficient. Can anybody say the financial markets are really hyperefficient?”
- 42:45 – “The credit card was designed to get rid of cash, sound familiar, designed to get rid of cash and to alleviate all the problems related to cash and cheques which by the way is worse today than it was for the problem that they were trying to solve. You now have a one or two percent chargeback rate, there is half a billion chargeback events, single chargeback events a year in Visa, Mastercard, American Express, and Discovery Universe and that is crazy, half a trillion dollars in losses.”
- 47:34 – “I’m a big believer in lets us regulate versus being told what to do because I think we’re better off as an industry to self-regulate than have some 800-year-old grey hair guy telling me what to do or worse even 10 different grey-haired guys from 10 different nations all coming up with bizarre analog regulatory like GDPR in the payments industry and some of these European compliance things”
- 1:05:31 – “100 million dollars is not a small transaction but there’s the type of people that want to get out at that life-changing event and then there is people like the Jeff Bezos of the world, the Elon Musk of the world, they just do it because they need to build something that is so massive and impactful it’s like a disease in your brain that you just have to keep going.”
- 1:22:40 – “Gasoline prices in the United States are extremely low by double, why? Because people go to the grocery store to buy a pack of cigarettes man, if gasoline was priced correctly they would not do that they would go grocery shopping and do everything in one run. You leave your laptops on and all of your computers on overnight, electricity is priced poorly, if electricity was priced correctly you’d turn everything off, everything off, it’s too cheap and therefore we waste.”
