How Elite Financial Networks Rule the World

The identities of the world’s most powerful people, and the corporations and institutions they run, are well known. What’s poorly understood is a key driving force behind elites’ power: their ability to build, and capitalize on, relationships. That’s the hypothesis of $uperhubs: How the Financial Elite and Their Networks Rule the World, by Sandra Navidi. She calls people with the most connections and influence “superhubs,” and explains how these individuals build global financial power networks with themselves at the center.

These “superhubs” increase their power through a multi-dimensional process that encompasses financial, political, corporate— as well as philanthropic and cultural— networks. They share in common an elite education, as well as intelligence and industriousness. But their competitive advantage, and the one they leverage for power, is their ability to build relationships. Elite networks have vulnerabilities, however: they tend to disable corrective mechanisms like regulatory reform, and their self-serving insularity helps sow the seeds of populist rebellions against them.

[thelasthourgetready]

What she is saying is commonsense to those who know the structure. She also left out the elite school and university education system where the majority of the talent that will run the networks are groomed, nurtured, developed and carefully placed.

[DaveE]

A financial network connects to a political network that connects to a corporate network, and then even a philanthropic and even cultural network - and what you get is a very strong entrenched power and amplified power.

[danielbtwd]

It's not what you know, it's who you know.

[hud]

We were sold the prosperity gospel by a bunch of people who inherited and married into money. When you've arduously worked your whole life and some rich kids your boss and they don't know how to do the job, you start to realize meritocracy is a myth and we live in feudal times. It sucks being told you're poor because you don't work hard enough, after a 70 hour week, by the person who's never worked a day in their life and instead inherited everything

[bachemohandes]

These were conspiracy theories and laughed at not 15 years ago. But now it's really evident!!

[jnucleo]

In Russia, they call it the global mafia.

[DaveE]

One good way of predicting human nature: “no one leaves advantage on the table”

[captainreza]

The recent FTX fiasco is the prime example of the closed loop operation within the "Chosen" tribe. The guy carries a Bank in his name, parents are both professor of law in an Ivy league school, well connected to the political establishment and financial mafia.

[Neiliousst]

"Finance is the operating system of our world" - Sandra Navidi.

[kacperjechorek]

This is one of the most important interviews out there.

[iliketacos]

We have reached a point where the financial system is completely heartless, ruthless, and automated. We, the people, have to address the issue at some point in the future

[vinay]

Watching this in 2022 after FTX has collapsed, I could’ve sworn this video was made last week 😄
Brilliant questions and thoughtful answers…👏

[atranimecs]

i mean there are only 10 companies that control everything we eat and about 20 financial institutions that hold a wealth majority...

Also forgot to mention that this ties into the legal system, they write the very laws that reinforce their power.

[AlOfNorway]

Ah, the intelligence in these two people is truly admiring. You just sense the presence of integrity in the room. Sandra, what a woman! 😍

[Csea]

You don’t need a book or intelligence to understand this dynamic. We know it has always been who you know not what you know.

[lolliz]

Listening to her analysis and her being able to relate the infrastructure of the system of control, with the psychology and characteristics of human behaviour, that causes everything to seal together, was very encapsulating.
Her ability to sum things up at the birds eye view like that in such a calm and poised manner was strangely attractive. I'm very much in sync with this type of thought process.

[Coneman]

Thank goodness for people like this who expose legal injustice and corruption.

[johnrobinson]

Good to see a Bourdieusian analysis of power applied to the social networks of finance.

[DaveE]

I recomend learning about “the history of debt: first 5000 years” it goes well with this I feel.

[larsafrika]

This is important in so many dimensions. Brilliant!