Gary Cohn, former chief economic adviser, discusses his post-White House ventures, most notably his investment in Hoyos Integrity, a mobile security company focusing on secure phones for confidential information and advancing digital wallets. He also provides a critical perspective on overvalued startups like WeWork and the political challenges faced by cryptocurrencies such as Facebook's Libra, offering valuable insights into the tech and finance landscape for ecommerce operators navigating similar economic currents.
Key takeaways
Hoyos Integrity aims to disrupt traditional payments by advancing secure digital wallets as an alternative to credit cards in the US, highlighting a growing trend ecommerce businesses should monitor for evolving transaction methods.
Cohn's observation on the overvaluation of unprofitable companies like WeWork serves as a cautionary tale for ecommerce founders relying heavily on private investment, emphasizing the importance of sustainable business models and clear paths to profitability.
The discussion around Facebook's Libra cryptocurrency and its political backlash underscores the significant regulatory hurdles and public sentiment challenges innovators in fintech and digital payments face, which can impact the broader acceptance and integration of new payment solutions in ecommerce.
The push for mobile security in confidential information via secure phones from Hoyos Integrity signals a broader market need for enhanced data protection, relevant for ecommerce platforms handling sensitive customer data.
Cohn's insights into tech IPOs during his Goldman Sachs tenure offer a historical perspective on market dynamics, indirectly advising ecommerce businesses on understanding market cycles and valuations.
Gary Cohn, the former Director of the National Economic Council and former chief economic adviser to President Trump, talks with Recode's Kara Swisher about what he's done since leaving the Trump administration, including a "significant" investment and advisory position he's taken up in a mobile security company called Hoyos Integrity. Cohn explains how Hoyos is developing a more secure phone for people who deal in confidential information, such as government workers; how it's trying to advance digital wallets as an alternative to credit cards in the US; and the political backlash to Facebook's Libra cryptocurrency. Cohn, who's also the former president and chief operating officer of Goldman Sachs, also talks about the powerful tech companies that went public during his tenure there, how private investors are over-valuing companies like WeWork before they are profitable, and why he doesn't think a recession is coming. Plus: How he feels about the way his former boss Trump uses Twitter.
Featuring:
Gary Cohn, investor and adviser to Hoyos Integrity (@HOYOSINTEGRITY)
Hosts:
Kara Swisher (@karaswisher), Recode co-founder and editor-at-large
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What does this episode say about finance & fundraising?
Hoyos Integrity aims to disrupt traditional payments by advancing secure digital wallets as an alternative to credit cards in the US, highlighting a growing trend ecommerce businesses should monitor for evolving transaction methods.
What does this episode say about founder & leadership?
Cohn's observation on the overvaluation of unprofitable companies like WeWork serves as a cautionary tale for ecommerce founders relying heavily on private investment, emphasizing the importance of sustainable business models and clear paths to profitability.
What does this episode say about ai & automation?
The discussion around Facebook's Libra cryptocurrency and its political backlash underscores the significant regulatory hurdles and public sentiment challenges innovators in fintech and digital payments face, which can impact the broader acceptance and integration of new payment solutions in ecommerce.
What does this episode say about finance & fundraising?
The push for mobile security in confidential information via secure phones from Hoyos Integrity signals a broader market need for enhanced data protection, relevant for ecommerce platforms handling sensitive customer data.
What does this episode say about finance & fundraising?
Cohn's insights into tech IPOs during his Goldman Sachs tenure offer a historical perspective on market dynamics, indirectly advising ecommerce businesses on understanding market cycles and valuations.
