Nuclear energy, in terms of an overall safety record, is better than other energy.
Bill GatesRead
The world needs banking but it does not need banks.
Interpretation
What this quote means
This quote suggests that while the functions of banking are essential for society, the traditional bank institutions may not be necessary.
Bill Gates' quote highlights the distinction between the services that banks provide and the traditional banking institutions themselves. He argues that the financial services are important for the functioning of the economy, but new technologies and innovations may be able to fulfill these roles without relying on the conventional banking structure, implying a need for change in how we consider financial services in the modern world.
Themes
BankingFinancial ServicesInnovationTechnologyEconomy
In practice
Example use cases
This quote can be used in a discussion about the future of finance during a seminar on fintech.
More from Bill Gates
All quotes βThe Internet is becoming the town square for the global village of tomorrow.
Bill GatesRead
With the states release today of a set of clear and consistent academic standards, our nation is one step closer to supporting effective teaching in every classroom, charting a path to college and careers for all students, and developing the tools to help all children stay motivated and engaged in their own education. The more states that adopt these college and career based standards, the closer we will be to sharing innovation across state borders and becoming more competitive as a country.
Bill GatesRead
About three million computers get sold every year in China, people don't pay for the software. Someday they will, though. And as long as they're going to steal it, we want them to steal ours. They'll get sort of addicted, and then we'll somehow figure out how to collect sometime in the next decade.
Bill GatesRead
Internet TV and the move to the digital approach is quite revolutionary. TV has historically has been a broadcast medium with everybody picking from a very finite number of channels.
Bill GatesRead
These four policy prescriptions - strengthening educational opportunities, revamping immigration rules for highly skilled workers, increasing federal funding for basic scientific research, and providing incentives for private-sector R&D - should in my view be top priorities as Congress and the Administration consider how to maintain the nation's leadership in science, technology, and innovation.
Bill GatesRead
Similar quotes
Regulatory reform must move beyond limiting the damage that the financial sector can do and ensure that the sector genuinely serves society.
Joseph StiglitzRead
In a very weak economy, when you say 'cut government spending,' what you mean is you're laying off school teachers and you're de-funding various programs that put money into the economy. This means you have more unemployed people that then draw unemployment benefits and don't pay taxes.
Fareed ZakariaRead
A healthy economy is largely a result of a reasonable balance between consumption today and consumption deferred, and it's pretty clear that balance has been ridiculously out of whack for a while.
Adam DavidsonRead
Building new roads and bridges creates jobs. Growing our exports creates jobs. Reforming our outdated tax system and our broken immigration system creates jobs.
Barack ObamaRead
Capitalism and market forces are very powerful in producing wealth and innovation. But we need to ensure that these forces act in the common interest.
Thomas PikettyRead
There would be plenty of justification to raise revenues in order to subsidize businesses that employ low-wage workers. But there can be no justification for pandering to the economy's entire bottom half merely to attract its votes.
Edmund PhelpsRead