S4E7: How To Create The Third-biggest Bank Failure In U.S. History with Co-Founder & Chairman of Signature Bank Scott Shay

<div>Signature Bank is all over the news this week because of its demise, leading to another global financial panic reminiscent of 2008. We at the Work From Home Show have been fortunate to interview one of its most important executives.</div> <div> </div> <div><span class="il">Scott</span> A. <span class="il">Shay</span> is Co-Founder and Chairman of Signature Bank. He is the author of the new book <u>Conspiracy U: A Case Study</u>.</div> <div><strong> </strong></div> <div>In the episode, <span class="il">Shay</span> explains why big Wall Street banks should be broken up, why regional banks should get more notoriety, and the future growth of crypto banking (he was wrong about all of these!).</div> <div><strong> </strong></div> <div>This interview was conducted months before Signature's collapse. It's an episode with tons of irony and coincidence.</div> <div> </div> <div> <div>Shay also shares his journey in the banking industry and the importance of building the right culture and putting the client first.</div> <div> </div> <div>He also discusses the challenges and future of decentralized finance (DeFi) and the prevalence of conspiracy theories in academia. He opens up on his views on the dangers of non-falsifiable claims and the need for evidence-based critical thinking. The hosts briefly touch upon the PPP program as well.</div> <div> </div> <div> <div dir="auto"> <p>Scott's Journey [00:01:17] Scott talks about his journey of starting Signature Bank, the importance of building the right culture, and putting the client first.</p> <p>Starting Signature Bank [00:01:51] Scott talks about how he co-founded and became the chairman of Signature Bank, and how they started with $42.5 million in capital.</p> <p>Blockchain and Digital Space [00:04:46] Scott talks about how they came up with the first blockchain-enabled 24/7 money transfer system for institutions, and how they embraced modern technology.</p> <p>Building the Right Culture [00:07:15] Scott talks about the importance of building the right culture and never d