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The Work From Home Show

Mar 20, 2023

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.
Scott A. Shay is Co-Founder and Chairman of Signature Bank. He is the author of the new book Conspiracy U: A Case Study.
In the episode, Shay 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!).
This interview was conducted months before Signature's collapse. It's an episode with tons of irony and coincidence.
Shay also shares his journey in the banking industry and the importance of building the right culture and putting the client first.
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.

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.

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.

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.

Building the Right Culture [00:07:15] Scott talks about the importance of building the right culture and never doing an acquisition, which allowed them to create a politics-free culture where people want to do the best for their clients.

Blockchain and the Future of Banking [00:10:00] Discussion on the implications of blockchain and decentralized finance on banking and transactions.

Signature Bank's Involvement in Crypto [00:11:10] Scott A. Shay talks about Signature Bank's early involvement in the crypto world and their support for the industry.

Challenges of Decentralized Finance [00:13:48] The challenges of decentralized finance, including legislative changes and consumer protection, are discussed.

Conspiracy Theories [00:16:38]Scott A. Shay's book "Conspiracy" is discussed, including the definition of a conspiracy theory and the dangers of non-falsifiable theories.

Universities and Conspiracy Theories [00:21:33] The danger of conspiracy theories masquerading as scholarship in universities is discussed.

Conspiracy Theories [00:21:51]Scott A. Shay talks about conspiracy theories, their prevalence on both sides of the political spectrum, and the disproportionate amount of them that are about Jews.

Censorship and Free Speech [00:25:57] Naresh Vissa and Scott A. Shay discuss censorship and free speech, and the importance of being able to access information and make decisions for oneself.

PPP Program [00:29:02] Scott A. Shay and Naresh Vissa talk about the PPP program and its success, with Scott mentioning that Signature Bank had a 20% employee turnout for the program.