E43: The Silicon Valley Canon, Smart Contracts, and the Yen Carry Trade

On this week’s episode of The Riff, Byrne Hobart and Erik Torenberg discuss the Silicon Valley Canon, impact of tech on traditional markets, the evolution of smart contracts, risks of currency carry trades and more. 🔥 Apply to join over 400 Founders and execs in the Turpentine Network: https://www.turpentinenetwork.co/ --- RECOMMENDED PODCASTS: 🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937 Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz YouTube: https://www.youtube.com/@ThisWontLastpodcast --- SPONSORS: BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at babbel.com/zen BRAVE: Get first-party targeting with Brave’s private ad platform: cookieless and future proof ad formats for all your business needs. Performance meets privacy. Head to https://brave.com/brave-ads/ and mention “Turpentine” when signing up for a 25% discount on your first campaign. --- LINKS: Byrne’s writing: https://thediff.co Longreads + Open Thread: https://www.thediff.co/archive/longreads-open-thread-90/ --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:26) Silicon Valley Canon (05:45) Silicon Valley's intellectual evolution (08:52) Who is leading Silicon Valley’s intellectual influence? (14:41) Variance of Mission-Driven Companies (19:50) Shareholder activism and private equity strategies (28:30) Sponsors: Babbel | Brave (30:57) Understanding extreme stock returns (35:38) Retailers and the ad business (39:14) Walmart's membership strategy (42:38) Environmental impact of data centers (47:01) Oracle problem in smart contracts (52:39) Currency carry trade (57:28) Ryan Breslow's controversial deal (01:00:15) Wrap