Who is on this subjectordered by the date of their first quote here
1 of 2 lane rests on fewer than 5 quotes and is marked thin. Offsets are days from the middle first-quote date, 2 Jul 2019 — a date, and nothing else. It is not a claim about who reached a view first.
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Bill Gurley
5
2 Jul 2019 – 14 Oct 2025
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Marc Rowan
4
thin
20 Apr 2022 – 16 Apr 2026
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The chronologysourced and dated, oldest first
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Bill Gurley
Gurley criticizes banks for maintaining slow ACH settlement times for thirty years to protect themselves.
“I these banks made a huge mistake, which is they've sat on their hands with ACH for thirty years, and they did it for all the wrong reasons.”
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Bill Gurley
Gurley argues banks deliberately kept ACH slow for thirty years to protect themselves while other countries mandated faster payments.
“They did it to protect themselves, like, three days to settle a transaction. There are other countries that just mandated UK faster payments.”
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Bill Gurley
Gurley argues banks advise 30x oversubscription, contradicting four hundred years of economic principles on supply and demand.
“And no one, no one in four hundred years of economics would suggest that the best practice would be to have a 30 x supply demand imbalance.”
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Marc Rowan
Rowan sees enormous opportunity in Asia where banks represent 90% of corporate capital versus 25% in the US.
“The banking system is 25% of all corporate capital. In Europe it's 65%. In Asia I think it's 90%.”
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Marc Rowan
Rowan predicts regional banking business models will fundamentally transform within five years.
“I'll be shocked if five years from now the business model of a regional bank looks like what they do today.”
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Bill Gurley
Gurley says vast majority of IPOs concentrated in four or five firms, suggests need for banks dedicated to smaller IPOs.
“I found some data which we can put up, like the vast majority of IPOs are being underwritten by like four or five firms.”
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Bill Gurley
Gurley notes Coinbase offers 4% daily interest on stablecoin balances without deposit requirements.
“Here, whether it's $10 or or a million bucks, you know, you put it in stable coin with Coinbase and you start earning 4% daily.”
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Marc Rowan
Rowan says the banking system is in the best shape he has seen in his 42-year career.
“I think it's in the best shape I've ever seen it in my forty two years of professional career.”
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Marc Rowan
Rowan explains banks excel at short-term lending while Apollo excels at long-term lending backed by retirement liabilities.
“And if you think about people like us, we borrow really long because we back retirement liabilities. And institutions, pension funds, endowments, sovereign wealth funds, they borrow really long.”
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