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Back to #2234 - Marc Andreessen, with Marc Andreessen.

What Is Choke Point 2.0?

Marc Andreessen says Choke Point 2.0 is a privatized sanctions regime that lets bureaucrats kick American citizens out of the financial system the same way the United States cuts off Iran. Banks do it because regulators expect them to, while officials still say a private company such as JP Morgan chose its own customers.

The pattern started about 15 years ago under the Obama administration, as marijuana and prostitution became legal and fights over guns continued. Legal marijuana businesses, escort businesses, and gun shops were pushed out of banking. A medical marijuana dispensary in 2012 had to run entirely on cash: no bank account, no Visa terminal, no card transactions, no payroll, no direct deposit, and no insurance. Over the last four years the same pressure hit crypto entrepreneurs, fintech entrepreneurs, and anyone trying to start a new banking service, in order to protect the big banks, and it reached other legal fields officials dislike. The first version targeted pot and guns. Choke Point 2.0 targets political enemies and disfavored tech startups. 30 founders were debanked in the last four years.

None of it is written down. There is no rule, no court, no decision process, no appeal, and no due process. A founder can start a completely legal company and still get sanctioned and embargoed by the United States government through an unaccountable process. Living under a cutoff was one of the reasons for supporting Trump.

Grokipedia·Choke point·Marc Andreessen

Transcript

#2234 - Marc Andreessen ·

The Joe Rogan Experience

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  6. What Did a Senior Democrat Predict About Trump?Marc Andreessen heard a senior Democrat on the way out of politics say in the summer that Trump was going to win with 100% certainty.
  7. When Did Democrats Become the Trickle-down Party?Marc Andreessen says Democrats became the trickle-down party, especially in the last four years.
  8. Did the Gulf of Tonkin Incident Happen?Marc Andreessen says the Gulf of Tonkin incident did not happen.
  9. Why Is Trump Less Pro-war Than Biden?Joe Rogan says Trump is clearly less pro-war than the Biden administration. Trump wants to end the wars.
  10. Why Was a Crypto Employee Debanked?Marc Andreessen says an employee doing crypto policy was debanked because crypto was in his job title.
  11. How Often Are Some Federal Workers in the Office?Marc Andreessen says most federal workers never came back to the office and still draw a paycheck.
  12. Who Makes Up the Democratic Party Coalition?Marc Andreessen says the Democratic Party is the top and the bottom versus the middle.
  13. How Much Worse Could AI Censorship Be Than Social Media?Marc Andreessen says censorship of AI has the potential to be a thousand times worse than social media censorship.
  14. Why Does China Own the American Drone Market?Marc Andreessen says 90% of the drones used by the United States military and by United States police are Chinese-made because the FAA basically made drones…
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