The door into the financial markets—preferably more than one.
In his third essay on delegated finance, the CEO of a public company made this a core question. His judgment was straightforward: no single intermediary, platform, or financial institution should become the unavoidable entry point for people to get into finance.
What he provided wasn’t a vision, but a set of rules that can be broken down into steps. The intermediary must act on behalf of the user, and its relationships with outside third parties and their interests must be disclosed. It cannot dodge its authority limits by simply handing the job off to another intermediary. User authorization must have clear boundaries, be revocable at any time, and once revoked, it must stop immediately. Every action must leave behind auditable records, and it must be possible to identify who is responsible.
There’s also one easily overlooked point: the intermediary must be able to “move house.” It should be able to work with competing service providers at the same time, carry financial records, preferences, and identity credentials to a new place, and maintain the same identity across platforms.🤖
He admitted that technological progress always outpaces rulemaking. Regulating AI may be one of the toughest problems policy makers have faced in decades. So he said it upfront: if safeguards aren’t built now, the ones who ultimately write the rules will be the existing giants and big tech companies.
These clauses read like a bill of rights, except the beneficiaries aren’t people—they’re agents.🏛️
In his third essay on delegated finance, the CEO of a public company made this a core question. His judgment was straightforward: no single intermediary, platform, or financial institution should become the unavoidable entry point for people to get into finance.
What he provided wasn’t a vision, but a set of rules that can be broken down into steps. The intermediary must act on behalf of the user, and its relationships with outside third parties and their interests must be disclosed. It cannot dodge its authority limits by simply handing the job off to another intermediary. User authorization must have clear boundaries, be revocable at any time, and once revoked, it must stop immediately. Every action must leave behind auditable records, and it must be possible to identify who is responsible.
There’s also one easily overlooked point: the intermediary must be able to “move house.” It should be able to work with competing service providers at the same time, carry financial records, preferences, and identity credentials to a new place, and maintain the same identity across platforms.🤖
He admitted that technological progress always outpaces rulemaking. Regulating AI may be one of the toughest problems policy makers have faced in decades. So he said it upfront: if safeguards aren’t built now, the ones who ultimately write the rules will be the existing giants and big tech companies.
These clauses read like a bill of rights, except the beneficiaries aren’t people—they’re agents.🏛️