How AI Could Freeze Progress with Hilary Allen

The podcast explores the intersection of financial technology, regulation, and Silicon Valley's influence, questioning whether technological innovation truly benefits society or primarily serves venture capital interests. Hilary Allen, a professor specializing in financial and technology law, argues that many fintech innovations are driven by legal design and regulatory arbitrage rather than genuine technological advancements. She critiques the venture capital model for prioritizing quick exits over long-term value and highlights concerns about overhyped products like crypto and AI, suggesting they often fail to deliver on their promises and may exacerbate economic precarity. The conversation touches on the role of government in fostering innovation and the need for a more balanced perspective on technology's potential impact. Allen expresses concerns about a looming financial crisis due to deregulation and advocates for stronger regulatory frameworks.