Long Take: OnlyFans bank-forced adult content ban, its failure, and the Metaphysics of Finance
Hi Fintech futurists --
This week, we cover the following:
Thesis: We talk about OnlyFans, and how its bank vendors pressured it to try to ban adult content, and how and why that failed. We also discuss the crypto tax provisions in the Senate version of the $1 trillion infrastructure bill, and their impracticality. These themes are tied together with a metaphysical hypothesis about the role of financial services, anchored in a discussion of the Platonic model of the mind. How are rationality, emotion, and social context involved to define the shape of our industry?
Topics: banking system, payments, money in motion, money at rest, ethics and morality, social contract, regulation, nation state, decentralization, DeFi
Tags: OnlyFans, Patreon, JP Morgan, BNY Mellon, Elizabeth Warren, Senate, Plato, Freud
If you get value out of the Long Take but have not yet looked at the full membership — consider 12+ frontier technology developments every week, a podcast conversation on fintechs, and food-fo…