"The Riff" with Byrne Hobart and Erik Torenberg

In this episode, Byrne Hobart joined Matjaž Leonardis in Austin for an Interintellect salon — a platform for 21st-century intellectual discourse—to discuss his new book Boom: Bubbles at the End of Stagnation, exploring how technological advancements, market paradoxes, and historical and modern financial bubbles — from the Manhattan Project to cryptocurrencies — reveal the complex dynamics between innovation, ideology, ambition, and hyper-financialization in a nonpolitical, high-quality conversation among leading and emerging thinkers. Interintellect is a creator platform for intellectual seekers to host salons for the 21st century.  Join the conversation at https://interintellect.com. Attend or host salons. Connect with our community of intellectual seekers. For a limited time, members go to all salons for free! --- Highlights from the Episode: Two Types of Bubbles: Extrapolation bubbles predict transformative future changes unlike the past, while mean reversion bubbles project an intensified continuation of past trends. Financial Markets and Risk-Taking: Financial markets can both encourage and inhibit innovation. Talent Allocation: The sectors where talented individuals choose to work—shifting historically from government to the private sector to finance—profoundly shape the direction and nature of society’s major innovations and projects. Different Investment Approaches: George Soros - Identifies momentum and rides bubbles up, then exits when sentiment changes. Bubbles and Progress: Many transformative bubbles involve building multiple things in parallel that wouldn't make sense individually. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg explore how technological advancements, policy shifts like Trump's tariffs and U.S. industrial policy, the re-industrialization of America, the influence of institutions like Harvard, the evolving role of the U.S. dollar, and the rise of OpenAI are reshaping global markets, businesses, and the future of artificial intelligence. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Trump's Tariffs and Economic Impact: The recent tariff implementation appeared more spontaneous than strategic compared to earlier Trump administration policies. US-China Trade Relations: Debate over which country has more leverage: China can maintain production without US customers in the short term, but faces demographic challenges long-term. Strategic Industrial Policy: Byrne suggests focusing on industries with national security implications (drones, rare earth processing) rather than attempting to rebuild entire sectors. OpenAI Developments: Discussion of OpenAI's potential open-source strategy and how it might reinforce rather than undermine their business model. White Collar Employment Futures: Byrne explores whether white-collar workers might experience a similar pattern to manufacturing workers as AI adoption increases. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

In this episode of The Riff, we are releasing a conversation Byrne Hobart had on the Bankless podcast about Byrne's book Bitcoin, exploring the provocative idea that speculative Bubbles—while sometimes destructive—can be powerful drivers of innovation, with examples from history and present-day trends like AI and crypto, ultimately highlighting the value of embracing risk to shape a transformative future. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Bubbles as coordination mechanisms: Byrne argues that certain bubbles are actually productive forces that help coordinate massive resources toward ambitious technological goals that wouldn't otherwise be achieved. Technological clusters in time: Just as certain industries cluster geographically (finance in NY, film in LA), bubbles create "clusters in time" where talent and capital converge to build related technologies Bitcoin and Crypto Evolution: Byrne traces his early interactions with Bitcoin from skeptical commenter to eventual participant. Bitcoin's resilience after Silk Road shutdown demonstrated it had value beyond illegal markets. Great Stagnation and Risk Aversion: Modern society has become increasingly risk-averse, favoring safety, credentials, and incrementalism over bold innovation. Future Frontiers for Bubbles: From space exploration and Mars colonization to crypto, digital property rights, biotech, life extension, energy innovation, and the emerging frontier where AI and crypto intersect, we are still in the early stages of transformative breakthroughs. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co Bankless: https://www.bankless.com/podcast/why-bubbles-are-good-byrne-hobart --- X / TWITTER: https://x.com/BanklessHQ (Bankless) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg discuss the transformative impact of technological change on global trade, AI’s disruption of senior roles, the debate over AI-generated art, and market dynamics—particularly in live entertainment ticketing—offering a wide-ranging and thought-provoking discussion. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: US-China Trade Relations: There's an interesting role reversal where China is now championing free trade while the US has become more protectionist. China's Economic Challenges: Demographics are a crucial factor affecting China's economy - an aging population creates financial imbalances. AI's Impact on Work Hierarchy: Contrary to common assumptions, AI might replace senior rather than junior roles. While AI isn't a perfect substitute for mentorship, it provides "synthetic wisdom" without requiring equity stakes. StubHub and Pricing Dynamics: Entertainment businesses operate as "stacks of monopolies" (artists, venues) monetizing layers of perfect competition. AI-Generated Art ("Ghibli-fication"): The massive popularity of Studio Ghibli-style AI image generation demonstrated unexpected demand for AI services. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg explore Donald Trump Jr.'s financial leverage of the Trump brand, Dustin Moskovitz's shift toward AI existential risks, Elon Musk's strategic decisions with Twitter, potential U.S. recessions, political party shifts, China's AI policy, and the broader impact of these developments on Wall Street and Main Street. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Political Brand Leveraging & Business: Byrne discussed how Donald Trump Jr. is leveraging the Trump brand, noting this follows a pattern where relatives of politicians often engage in business dealings that trade on political connections. High-Stakes Career Choices: They analyzed Dustin Moskovitz's departure from Asana, suggesting it may be motivated by existential AI concerns. Existential Risk Perspectives: Byrne distinguished between "hot apocalypse" scenarios (like nuclear war) and "cold apocalypse" scenarios where societal function gradually deteriorates. Twitter/X and Elon Musk: They discussed how Musk has managed to technically restore Twitter's valuation through financial engineering and leveraging connections between his companies. Economic Policy and Tariffs: Extensive discussion of Trump's tariff strategy as a negotiation tactic rather than a permanent policy. Recession Concerns: Byrne explained how markets anticipate economic changes before they appear in employment data, creating apparent disconnects between Wall Street and Main Street indicators. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg explore the effects of technological change on media and society, covering topics such as the AI debate, blogging's social impact, AI's influence on search and data, the changing news industry, foreign aid cuts, and the rise of new tech elites. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: AI and Written Content: The comparison is made to how society adapted to blogging, which was initially viewed as disruptive but was eventually incorporated into mainstream media ecosystems. Media Evolution and Business Models: "Real news" remains the least lucrative part of the news business due to high fixed costs and difficult monetization. On The Washington Post's Strategy: Byrne suggests Bezos might be positioning the Post to serve an underserved audience: center-right libertarians who want economic growth while avoiding both progressive politics and Trumpism. Tech Elites and Government: Tech and government used to be more closely intertwined (semiconductor industry, Apollo program) but have diverged. Foreign Aid and USAID: Argument that programs like PEPFAR (HIV/AIDS relief) have been highly effective in terms of lives saved per dollar. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg examine why Warren Buffett's Berkshire Hathaway can't be successfully replicated today, analyze Bill Gates's public versus private persona, and consider how economic growth manifests as "premium mediocre" options like Chipotle. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Berkshire Hathaway's Unrepeatable Success: Buffett's empire evolved through historical accidents and unique market conditions that no longer exist—trying to copy it today misses what made it special. The Real Berkshire Advantage: While most focus on Buffett's acquisition strategy, Berkshire's true uniqueness is its fee structure—Buffett aligned his incentives by getting rich alongside shareholders, not from carried interest. Gates's Dual Persona: Bill Gates cultivated a humble public image despite being famously combative at Microsoft, demonstrating how business leaders craft public personas that may differ from their actual management styles. The Problem with Reverse-Engineering: Attempting to copy successful models often fails because you're copying what worked in past conditions rather than the underlying strategic thinking. Premium Mediocre Future: If AI drives 10% GDP growth, we might just get more "Chipotle-fication"—consistently good but not exceptional products available to everyone, rather than technological utopia. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg discuss technological inflection points and examine how legal frameworks mask continued globalization despite apparent retrenchment, explores US-China dynamics, analyzes AI industry structure and emerging models, and considers Uber's strategic positioning against autonomous vehicles. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Globalization isn't truly reversing, but adapting through legal structures that help bypass trade barriers (like routing Chinese goods through Vietnam) China's economic model succeeded in early growth stages but faces challenges with an over-leveraged real estate sector and declining population Taiwan remains in a surprisingly stable but tense relationship with China despite rhetoric suggesting imminent conflict The AI industry is evolving beyond simple model providers/applications into specialized layers with different data access advantages Financial engineering works well for known variables but struggles with pure research funding due to fundamental uncertainty Uber faces an existential challenge from autonomous vehicles that initially complement their marketplace but could eventually replace it -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg discuss the transformative impact of technological advancements, particularly OpenAI's research, Elon Musk’s $97 billion offer to acquire its controlling nonprofit, and the implications for business, jobs, regulation, and Musk's strategies with X and Doja. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Musk made a $97.4 billion offer to buy the nonprofit that controls OpenAI. Byrne highlighted that while AI research may be slightly lower quality, it's much faster and valuable for quick, preliminary research. Companies like Apple, Google, and Microsoft have significant advantages in developing AI agents due to their access to user data. Byrne argues that traditional justifications for sovereign wealth funds (currency management, resource wealth management) don't apply to the US. Discussion of how X/Twitter has changed under Musk's leadership. -- SPONSORS: NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg explore the impact of technological advancements on markets and businesses, covering topics like global trade tariffs, political populism, AI's evolving role, open-source vs. proprietary models, stock market trends, and Meta’s investments in the metaverse and AR. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Trump's tariff approach (particularly the proposed 25% on Canadian goods) makes sense as a negotiating bluff but is problematic as long-term strategy. Unlike the US dollar system, China's currency has limited international circulation, affecting their global economic influence. The market reaction to DeepSeek's developments affected both direct AI companies and adjacent sectors. Meta's transition to being more capital-intensive (through AI investments) may actually strengthen their competitive position. Companies like Meta have incentives to commoditize some AI capabilities while maintaining proprietary advantages in others. -- SPONSORS: Notion 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://notion.com/upstreampod Vanta: Vanta simplifies security and compliance for businesses of all sizes. Automate compliance across 35+ frameworks like SOC 2 and ISO 27001, streamline security workflows, and complete questionnaires up to 5x faster. Trusted by over 9,000 companies, Vanta helps you manage risk and prove security in real time. Get $1,000 off at https://vanta.com/revolution --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg discuss the major disruptions in tech and business driven by AI advancements, examining reactions to DeepSeek's announcements, stock impacts on companies like Nvidia, volatility in AI investments, Meta's Threads, Elon Musk’s influence on X, the role of tech in a politically charged landscape, and how governments could shape industrial strategies to support national champions. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: The announcement of DeepSeek's AI model caused significant market reactions, particularly affecting NVIDIA and other AI-related stocks. Hedge funds' risk management practices, which typically involve reducing exposure across related positions during increased volatility, can amplify market reactions and trigger cascading effects across multiple sectors. While DeepSeek demonstrates impressive optimization with limited resources, US companies maintain advantages in hardware and talent depth, positioning them to catch up with increased investment in AI infrastructure. Discussion of Threads vs. X (formerly Twitter) highlighted the importance of network effects. The $100B-500B AI infrastructure project announcement signals a long-term commitment to AI development, with its massive scale potentially deterring competitors and resembling SoftBank's strategy of over-funding to dominate markets. -- SPONSORS: Notion 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://notion.com/upstreampod Vanta: Vanta simplifies security and compliance for businesses of all sizes. Automate compliance across 35+ frameworks like SOC 2 and ISO 27001, streamline security workflows, and complete questionnaires up to 5x faster. Trusted by over 9,000 companies, Vanta helps you manage risk and prove security in real time. Get $1,000 off at https://vanta.com/revolution --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

On this week's episode of The Riff, Erik Torenberg and Byrne Hobart explore the impact of technological change on markets, touching on meme investments, ESG, the rise of meme stocks and coins, Trump’s policies, China’s economic strategies, industrial policy debates, and how these factors could shape the future political and economic landscape. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Trump's recent cryptocurrency launch represents a significant shift in his financial strategy. Meme coins/markets serve as a way to quantify social media competition and turn online engagement into measurable outcomes. China's growth model succeeded in transitioning from low to middle income but faces difficulties reaching high-income status. Japanese 30-year bonds now yield more than Chinese ones, suggesting market expects higher long-term growth in Japan. Bipartisan concerns over TikTok's influence and Chinese ownership, coupled with Trump's reversal on the ban, highlight shifting political coalitions. --- RECOMMENDED PODCAST: Check out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. Founders Fund's Delian Asparouhov and researcher Nadia Asparouhova kick off the series with an unfiltered conversation about their relationship evolution. Apple: https://podcasts.apple.com/us/podcast/id1786227593 Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVg YouTube: https://www.youtube.com/@ModernRelationshipsPod -- SPONSORS: Notion 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://notion.com/upstreampod Vanta: Vanta simplifies security and compliance for businesses of all sizes. Automate compliance across 35+ frameworks like SOC 2 and ISO 27001, streamline security workflows, and complete questionnaires up to 5x faster. Trusted by over 9,000 companies, Vanta helps you manage risk and prove security in real time. Get $1,000 off at https://vanta.com/revolution --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg explore the historical paradigms from agrarian to industrial eras and potential future growth, while also addressing challenges in adopting new technologies like AI, institutional constraints at companies like Meta, post-COVID loneliness, the Scandinavian economic model, China's deflation concerns, and structural issues within OpenAI, all through a mix of personal anecdotes and historical insights. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Historically, economic growth rates have increased roughly 10x during major paradigm shifts (from hunter-gatherer to agrarian to industrial economies). Meta (Facebook) invested heavily in content moderation systems but received limited credit for these improvements. The "Loneliness Economy" describes how COVID-19 increased time spent alone at home, allowing digital platforms like DoorDash, which use detailed user behavior data, to optimize services in ways physical businesses cannot. Jensen Huang's background of early hardship and drive, along with NVIDIA's strategic focus on intermediate goods like GPUs rather than consumer products, played a key role in its evolution from a graphics card maker to a leader in AI hardware. OpenAI's shift from a nonprofit to a for-profit structure highlights the massive capital needs of AI development, similar to how American Express's corporate structure challenges went unaddressed until they became critical, illustrating how organizational issues often get deprioritized during rapid growth. --- RECOMMENDED PODCAST: Check out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. Founders Fund's Delian Asparouhov and researcher Nadia Asparouhova kick off the series with an unfiltered conversation about their relationship evolution. Apple: https://podcasts.apple.com/us/podcast/id1786227593 Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVg YouTube: https://www.youtube.com/@ModernRelationshipsPod -- SPONSORS: Notion 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://notion.com/upstreampod Vanta: Vanta simplifies security and compliance for businesses of all sizes. Automate compliance across 35+ frameworks like SOC 2 and ISO 27001, streamline security workflows, and complete questionnaires up to 5x faster. Trusted by over 9,000 companies, Vanta helps you manage risk and prove security in real time. Get $1,000 off at https://vanta.com/revolution --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg is joined by Tae Kim, author of The NVIDIA Way, exploring NVIDIA's remarkable journey, culture, and what sets the company apart under Jensen Huang's leadership. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: NVIDIA's success stems from its relentless work culture, emphasis on talent cultivation, and ability to execute at high velocity while minimizing internal politics. The company's "rough justice" philosophy in business partnerships, particularly with TSMC, focuses on long-term relationships over short-term gains. Jensen Huang's unique management style includes a flat organizational structure with 60 direct reports and "top five emails" system for real-time company insights. --- RECOMMENDED PODCAST: Check out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. Founders Fund's Delian Asparouhov and researcher Nadia Asparouhova kick off the series with an unfiltered conversation about their relationship evolution. Apple: https://podcasts.apple.com/us/podcast/id1786227593 Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVg YouTube: https://www.youtube.com/@ModernRelationshipsPod -- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co Tae’s newsletter: https://firstadopter.substack.com/ The Nvidia Way: https://www.amazon.com/Nvidia-Way-Jensen-Huang-Making/dp/1324086718 --- X / TWITTER: https://twitter.com/firstadopter (Tae) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Erik Torenberg and Byrne Hobart discuss the pod shop hedge fund model, market cycles, AI pricing models, and the future of AI-generated content, with Byrne offering insights on hedge fund evolution, the current market environment, and AI's impact on entertainment and society. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: Pod shop hedge fund model has evolved to focus on delivering uncorrelated returns rather than just beating market indices, with sophisticated risk management and factor-neutral strategies. Current market conditions suggest we may be entering a period where even as companies grow, stock prices may lag due to multiple compression and slower growth expectations. AI pricing models face interesting constraints around liability and human oversight, with potential ceiling prices influenced by existing enterprise software like Bloomberg terminals. --- RECOMMENDED PODCAST: Check out Modern Relationships, where Erik Torenberg interviews tech power couples and leading thinkers to explore how ambitious people actually make partnerships work. Founders Fund's Delian Asparouhov and researcher Nadia Asparouhova kick off the series with an unfiltered conversation about their relationship evolution. Apple: https://podcasts.apple.com/us/podcast/id1786227593 Spotify: https://open.spotify.com/show/5hJzs0gDg6lRT6r10mdpVg YouTube: https://www.youtube.com/@ModernRelationshipsPod --- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Erik Torenberg and Byrne Hobart discuss AI's economic implications, the rise of passive investing, gambling markets, and Warren Buffett's early investment tactics, examining how technological advancements shape economic metrics, market dynamics, and industry shifts. --- 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. --- Highlights from the Episode: AI's economic impact may follow a J-curve pattern - initially deflationary as it reduces costs, but potentially inflationary later through increased monetization and energy consumption Passive investing's dominance has natural limits, as price discovery requires active trading, suggesting a possible future cyclical pattern between passive and active investing The gambling industry's evolution may parallel historical vice industries, potentially leading to new social norms and self-regulation before government intervention --- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Erik and Byrne discuss the impact of technological change on markets, debate the feasibility of Argentine-style economic policies in the U.S., discuss government efficiency, payroll costs, and political dynamics, including the potential economic effects of a Trump administration and strategies of figures like Elon Musk and Sam Altman. For full shownotes, visit: https://highlightai.com/share/da0b923d-7d50-4459-b8e9-d0bf87710da7 — 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. — RECOMMENDED PODCAST: 🎙️ Unpack Pricing - Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg --- SPONSORS: Take your personal data back with Incogni! Use code ECON102 at the link below and get 60% off an annual plan: http://incogni.com/econ102 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

On this week’s episode of The Riff, explore the impact of technological change on markets and businesses, discussing economic bubbles, the future of AI, the post-election political landscape, and Byrne's upcoming book Boom, which examines the role of bubbles in infrastructure development. For full shownotes, visit: https://highlightai.com/share/44975e08-681b-484a-9f8f-64588f17da2f — 🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse. — RECOMMENDED PODCAST: 🎙️ Unpack Pricing - Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg --- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co Byrne's book: https://www.amazon.com/Boom-Bubbles-Stagnation-Byrne-Hobart/dp/1953953476 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Erik Torenberg and Byrne Hobart explore the evolving landscape of heretical ideas, election dynamics, AI and crypto’s market impacts, prediction markets, the shifting Overton window, contrarian perspectives, and trends in housing and smaller social networks. For full shownotes, visit: https://highlightai.com/share/77be6b84-0f55-4dcc-9dd1-c69341272e2e --- 📰Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveaccess --- RECOMMENDED PODCAST: 🎙️ Unpack Pricing - Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg --- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

In this special episode of The Riff, Erik Torenberg and Patrick McKenzie explore the evolving landscape of tech journalism, media narratives about the tech industry, and how the industry is increasingly telling its own story. For full shownotes, visit: https://highlightai.com/share/2dab4f2e-f8b1-410b-9bc4-b4a9b137c22f 📰Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveaccess --- RECOMMENDED PODCAST: 🎙️ Unpack Pricing - Dive into the dark arts of SaaS pricing with Metronome CEO Scott Woody and tech leaders. Learn how strategic pricing drives explosive revenue growth in today's biggest companies like Snowflake, Cockroach Labs, Dropbox and more. Apple: https://podcasts.apple.com/us/podcast/id1765716600 Spotify: https://open.spotify.com/show/38DK3W1Fq1xxQalhDSueFg --- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://x.com/patio11 (Patrick) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

In this episode of The Riff, Byrne Hobart discusses his upcoming book about financial bubbles, venture scale businesses, creator financing, and prediction markets. For full shownotes, visit: https://highlightai.com/share/d084ef81-e3cd-41b2-be04-b6fc2bbe3f7a 📰Be notified early when Turpentine drops new publication: https://www.turpentine.co/exclusiveaccess --- SPONSORS: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co Byrne's book: https://www.stripe.press/boom --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

In this special episode of The Riff, Byrne Hobart is joined by Patrick McKenzie, host of the podcast Complex Systems to discuss a range of topics including app business models, restaurant industry economics, AI's impact on productivity, the evolution of search technologies and more. 🔥 Apply to join over 400 Founders and execs in the Turpentine Network: https://www.turpentinenetwork.co/ --- RECOMMENDED PODCASTS: 🎙️ Complex Systems Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812 🎙️ 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: 📑 Discover Carta, the innovative end-to-end accounting platform revolutionizing private fund management with streamlined operations and on-demand insights. Experience the new standard at https://carta.com/investors/ --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) https://x.com/patio11 (Patrick) --- TIMESTAMPS: (00:00) Intro (01:08) Economics of free-to-play games (09:45) High spenders and VIP systems (12:13) Misconceptions about industry economics (13:22) Spending patterns (15:46) Airline industry (20:51) Custom software and high-end services (24:17) Sponsor: Carta (25:06) Evolution of restaurant websites (33:57) Role of platforms in restaurant business (41:33) Strategic moves in food distribution (43:53) Restaurant groups and concepts (47:39) Economics of business meals (53:33) Value of free company food (01:03:37) Role of LLMs in research and writing (01:12:04) Future of LLMs and human interaction (01:23:44) Wrap

This week, Byrne Hobart and Erik Torenberg discuss the shifting dynamics of careers and education, the notion of "auto-paternalism" in organizational choices, Spotify's growth strategy in a mature market, the future of podcasts and audio content, and the intricate relationship between AI art, property rights 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: 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 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:27) Career advantages (05:00) Young entrepreneurs today (09:38) Money and legitimacy (17:57) Sponsor: Brave (18:59) Education and critical thinking (27:34) Disrupting higher education (39:25) Auto paternalism in organizations (48:13) Spotify's market strategy (53:39) AI art and property rights (57:07) Wrap

This week, Byrne Hobart and Erik Torenberg dive into a range of fascinating topics such as the evolution and future of OpenAI's business model, economic rationale behind corporate buybacks, changing software economics, China's recent equity market surge 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: 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 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:20) Role of competition in tech (03:57) ByteDance and the music streaming market (08:15) OpenAI's business model evolution (19:05) Sponsor: Brave (20:07) Future of OpenAI and AI regulation (27:56) Understanding interest rates and treasury bonds (30:58) Corporate buybacks (37:05) Software economics and growth strategies (45:38) China's economic strategies and market impact (50:49) Predicting market movements with headlines (54:15) Wrap

This week, Byrne Hobart and Erik Torenberg discuss cult stocks like Tesla and Palantir, debate whether AI or globalization will impact jobs more, explore the energy transition's unexpected reversal, analyze Forbes' content strategy 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 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:20) Understanding cult stocks (05:48) ESG investing (09:21) Viability of stock-based social networks (16:53) Vertical social network (19:43) Sponsors: Babbel | Brave (22:08) Role of tick sizes in financial markets (29:03) Tech stocks and market timing (36:24) Job losses: AI vs. Globalization (41:11) Energy transition in reverse (45:49) Forbes' business model and media strategy (52:00) Power of lists in media (01:00:01) Wrap

This week, Byrne Hobart and Erik Torenberg tackle the current state of the EU's tech sector, evolution of private equity firms, consumer credit defaults, online reputation management 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 Will The EU Choose to Compete?: https://www.thediff.co/archive/will-the-eu-choose-to-compete/ --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:27) Current state of the EU tech industry (07:21) Degrowth and economic progress (12:12) Competent bureaucracy and government services (18:24) Javier Milei, Vivek, and Trump (25:06) Sponsor: Babbel | Brave (27:32) Consumer confidence and economic perceptions (30:48) Deflation and credit creation (42:45) The Evolution of Private Equity (50:21) Online Reputation Management (54:50) Wrap

This week, Byrne and Erik discuss the efficiency of market hypothesis, explores the complexities of breaking up big tech companies, unpacks the intriguing dynamics of currencies from nations to video game gems 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 Big Tech as a Fleet Rather than an Aircraft Carrier: https://www.thediff.co/archive/big-tech-as-a-fleet-rather-than-an-aircraft-carrier/ --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:20) Market efficiency (02:33) Big tech's strategic investments (12:11) Efficient market hypothesis (16:52) Big tech as a fleet (27:16) Sponsors: Babbel | Brave (29:42) Role and impact of currencies (39:03) Concept of personal tokens (43:17) Diversification vs. Concentration in investments (50:09) Pod model in hedge funds (54:25) Wrap

This week, Byrne and Erik discuss the idea of taxing unrealized capital gains, networked nature of the finance industry, the strategic direction of Uber in autonomous vehicles, the merits of 'founder mode' 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 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:21) Taxing unrealized gains (08:57) Economic theories on taxation and consumption (12:40) Role of taxation in government spending (15:23) Impact of taxation on the startup ecosystem (22:58) Sponsors: Babbel | Brave (25:23) Real estate and mortgage market insights (31:00) Introduction to pod shops (37:38) Uber's autonomous vehicle strategy (45:57) Valuing companies: Cash flow vs. Dividends (51:04) Nominal GDP targeting and economic policy (55:34) Implications of founder mode (59:26) Wrap

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

On this week’s episode of The Riff, Byrne Hobart and Erik Torenberg discuss tricky antitrust decisions, Balaji’s Network State, the dynamics of content moderation, and more. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:23) Paradox of antitrust in tech (03:00) Consumer welfare vs. market dominance (09:48) Lina Khan (13:29) Sponsors: Babbel | Brave (15:53) Corporate social responsibility and privatization (20:28) AI trust and the impact of fake content (26:48) Technical inputs into AI  (31:40) Absurdity heuristic  (32:24) Exploring intangible capital (39:05) Network States and organizational challenges (48:13) Politics and social media dynamics (55:34) Conservative and progressive elites (01:00:26) Wrap

This week, Byrne and Erik discuss Meta’s open source strategy, Google’s hiring of Character.AI’s CEO, the calculus behind the Strategic Petroleum Reserve, and more. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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: 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 --- X / TWITTER: https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:25) Meta's open source AI strategy (07:42) Google's acquisition of Character.AI (12:20) Sponsors: Brave (13:49) Reddit's data deal with Google (16:40) Strategic Petroleum Reserve Management (20:26) Andrew Left's activist shorting troubles (27:46) Job compensation and revenue generation (33:39) Amazon's logistics and growth strategy (36:57) Amazon's historical reinvestment strategy (42:27) Amazon's culture drift and leadership (46:50) Specialized vs Consolidated AI models (52:05) Outro

This week, Byrne Hobart and Erik Torenberg are joined by Omar Shams, the founder of Mutable AI, for a deep dive into Omar’s great piece, The AI Organization. In this conversation, they explore the potential of AI to transform organizational productivity, the limitations of financial metrics in GDP, and AI's role in political processes and societal structures. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg 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 The AI Organization, part I: https://blog.mutable.ai/p/the-ai-organization-part-i The First Org Chart Ever Made Is a Masterpiece of Data Design: https://www.wired.com/2014/03/stunningly-complex-organization-chart-19th-century/ --- X / TWITTER: https://x.com/smahsramo (Omar) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:20) Historical context of technological adoption (02:40) The AI Organization (06:10) Economic theories and AI (11:55) Capitalism vs. Communism (16:00) Sponsor: Babbel | Brave (17:28) Role of AI in future economies (18:51) AI's impact on company sizes (24:10) AI and political influence (29:50) Effect of AI on legal services (31:55) Complexity of GDP and human preferences (41:57) Future of Work and AI Integration (54:24) AI adoption in various sectors (01:03:56) Outro

This week, Byrne Hobart is joined by Patrick McKenzie (patio11), host of the podcast Complex Systems, to discuss the complexity and endless fascination of financial infrastructures, the role of fraud in finance, talent spotting strategies and the importance of building networks. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCASTS: 🎙️1 to 100 | Hypergrowth Companies Worth Joining Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies. Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw Apple: https://podcasts.apple.com/podcast/id1762756034 - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- LINKS: Byrne’s writing: https://thediff.co Patrick's Newsletter: https://www.bitsaboutmoney.com/ --- X / TWITTER: https://x.com/patio11 (Patrick) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- TIMESTAMPS: (00:00) Intro (00:20) Historical origins of financial products (01:22) Old infrastructure in finance (05:02) Security vs Usability trade-off (10:49) Trust dynamics in finance (11:58) High-trust vs Low-trust environments (15:26) Market dynamics and reputation systems (19:41) Sponsors: Babbel | Beehiiv (22:15) Who's your favorite fraudster? (25:10) Crypto and money laundering (30:31) FTX and money laundering theory (36:59) Collapse of FTX (40:55) Normative Aspects of Trust (46:27) The Starfighter Project (53:33) Value of networking and cold emails (58:00) Managing information flow (01:02:31) Outro

This week, Byrne Hobart and Erik Torenberg discuss the resurgence of prediction markets, the balance of sophisticated vs. 'dumb' money, Biden's nomination odds and the impact of AI on software economics. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCASTS: 🎙️1 to 100 | Hypergrowth Companies Worth Joining Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies. Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw Apple: https://podcasts.apple.com/podcast/id1762756034 - 📈 ECON 102 W/ NOAH SMITH Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:20) Is this the Polymarket election? (08:55) Prediction markets (11:07) Politics and prediction markets (15:13) Sponsors: Babbel | Beehiiv (17:48) CrowdStrike and the cost of software failures (23:39) AI adoption and workplace dynamics (27:29) Financial systems post-Great Financial Crisis (35:02) USSR's computer network for economic planning (40:01) Best performing stock of the last 100 years (43:22) AI's impact on software and hardware economics (48:46) Market cycles and political influence (51:11) Dot-com crash, Y2K, and the housing bubble (54:28) Stripe and the future of private companies (59:12) Venture capital vs. Private equity returns (01:00:49) Outro --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

On this week’s episode of The Riff, Byrne Hobart and Erik Torenberg discuss how the 2024 presidential election has changed, why Wikipedia’s partisanship problem is difficult to solve, and the strategy behind Amazon’s media business. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCASTS: 🎙️1 to 100 | Hypergrowth Companies Worth Joining Every week we sit down with the founder of a hyper-growth company you should consider joining. Our goal is to give you the inside story behind breakout, early stage companies potentially worth betting your career on. This season, discover how the founders of Modal Labs, Clay, Mercor, and more built their products, cultures, and companies. Spotify:https://open.spotify.com/show/70NOWtWDY995C8qDqojxGw Apple: https://podcasts.apple.com/podcast/id1762756034 - 📈 ECON 102 W/ NOAH SMITH Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:20) Case for a boring campaign (01:49) Impact of Assassination Attempts (05:20) Sam Altman OpenAI analogy (06:24) Symbolism in the presidency (10:17) Role of determination in leadership (15:16) Presidents role (18:10) Sponsors: Babbel | Beehiiv (20:45) Vice presidential pick (25:16) Algorithmic collusion in real estate (29:48) David Gerard on Wikipedia (38:23) The 4chan of Crypto (42:14) Stable growth stocks (47:02) Amazon's media business strategy (53:16) Mission-driven vs. Vanity businesses (57:00) Benefits of liquidity in American markets (58:31) Outro --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg dive deep into David Graeber's controversial concept of 'Bullshit Jobs,' exploring its validity and impact. They also discuss the future of labor and employment in the era of AI, the intricate dynamics of globalization, and the complexities of corporate governance. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: 🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211 Spotify: https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:20) David Graeber's “Bullshit Jobs” (11:15) Meritocracy and word origins (14:01) Convergent evolution (16:04) Sponsors: Babbel | Beehiiv (18:39) Public intellectuals and broad theories (24:30) Automation and future of work (31:55) Corporate control and voting rights (38:46) Burden of knowledge (45:38) Robert Gordons thesis (52:41) Globalization and resource endowments (01:00:54) Outro --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

On this week's episode of The Riff, Erik and Byrne discuss the evolution of monetary systems, the economics of AI investments, and how AI is impacting the job market for junior software developers. 🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: 🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211 Spotify: https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:21) Centralization and AI (03:32) Challenges of centralized planning with AI (04:20) Curtis Yarvin's influence on modern governance (09:53) Comparing government and corporate structures (14:22) Succession problem in governance (17:56) Sponsors: Babbel | Beehiiv (20:30) Tony Blair's insights on governance (29:43) Impact of AI on fame (33:16) Future of digital celebrities (36:15) Evolution of monetary systems (42:51) AI's economic impact and challenges (51:12) Changing job market for developers (59:04) Outro --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, Byrne Hobart and Erik Torenberg discuss a lesser-known Chamath Palihapitiya story, the index rebalancing trade as a postmodern part of finance, AI labs, crypto, and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. Byrne Hobart is hiring an associate! Check out the JD here: https://www.thediff.co/jobs/ 🔥 Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: 🎙️ Second Opinion - A new podcast for health-tech insiders from Christina Farr of the Second Opinion newsletter. Join Christina Farr, Luba Greenwood, and Ash Zenooz every week as they challenge industry experts with tough questions about the best bets in health-tech. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1759267211 Spotify: https://open.spotify.com/show/0A8NwQE976s32zdBbZw6bv - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00:00) About the Show (00:00:20) Chamath, IAC, and Tinder (00:16:20) Sponsors: Babbel | Beehiiv (00:18:54) Chamath continued (00:18:54) Twitter, Threads (00:22:40) Twitter, Twitch (00:24:12) Twitter, API (00:28:37) Meme coins (00:32:10) The postmodernity of index rebalancing trades (00:35:37) S&P 500 inclusion and exclusion (00:40:52) Crypto, AI, and the Zeitgeist (00:42:14) Crypto (00:46:55) AI Labs (00:49:35) Why is it money intensive and talent intensive? (00:53:59) What should people study in college? (00:59:24) Byrne is hiring an associate! (01:02:13) Outro --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)

This week, writer Byrne Hobart and investor Erik Torenberg discuss the economics of conferences and cities, rise of meme stocks, future of coding in the age of AI and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- 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 https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812 - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:20) Economics of conferences vs Economics of cities (04:09) Historical and modern city dynamics (06:02) Controversies and discussions at conferences (10:00) Rise of meme stocks and retail investors (17:38) Sponsor: Babbel | Beehiiv (20:10) High volatility in stocks (23:10) Cultural influence of 4chan and Reddit (28:33) Value capture in startups and capital structure (31:30) Exploring self-funding and investment strategies (37:14) Concept of cross-investing in people (45:05) Value of learning to code (50:15) Future of therapy in an AI-driven world (57:56) Impact of AI on engineering jobs (01:00:28) Comparing software and media (01:03:50) Wrap --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne discuss populist cycles, why billionaires buy media companies, how to invest if you think AGI is coming soon, and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- 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 BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:21) Populists vs technocrats (07:37) Role of media and influence (14:02) View on counter elites (15:41) Sponsor: Babbel | Beehiiv (18:51) Israel on PR war (22:59) On Big Tech Has No Power At All by Curtis Yarvin (26:42) Elon Musk’s Twitter takeover (30:14) Comparing media ownership: Bezos vs. Musk (38:42) Leopold Aschenbrenner’s situational awareness paper (44:26) Investing strategies in the age of AGI (46:38) Role of Venture Capital (50:05) High frequency trading explained (53:42) Prediction markets and information transmission (54:26) Wrap --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne discuss Elon Musk's and Yann Lecun's Tweets, what we can learn from Google's API decumentation leaks, how Apple is planning on improving Siri, and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- 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 https://babbel.com/MOZ. BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 - 📈 ECON 102 W/ NOAH SMITH - Keeping econ entertaining - Noahpinion author Noah Smith and Erik Torenberg break down business news and politics every week. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/id1753399812https://podcasts.apple.com/id1753399812 --- TIMESTAMPS: (00:00) Intro (00:21) Elon Musk's and Yann Lecun's Twitter exchange (02:26) Institutional decay (07:54) Activist campaign against Texas Instruments (16:36) Sponsors: Babbel | beehiiv (19:10) Poorly executed fraud from Getty investor (27:41) What we can learn from the Google API documentation leak (35:07) Apple's planned improvements for Siri (40:12) Wrap --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne talk about xAI's fundraising round, Vivek Ramaswamy's investment in BuzzFeed, and the dynamics of using ads to monetize AI. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSORS: beehiiv Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- Timestamps: (00:00) Intro (00:21) xAI fundraising (12:11) Vivek Ramaswamy's majority stake in BuzzFeed & dynamics of media acquisitions (16:15) Sponsor: beehiiv (30:03) Changes in private equity (35:44) Does AI hurt wordcels or shape rotators? (39:21) Looking at new FTX documents (44:58) Will AI be monetized mostly through ads? (53:04) Against trusting dystopian science fiction stories (57:11) Wrap --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne talk about meme stocks, the nature of reserve currencies, and why you should consider not owning a home in America. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSORS: beehiiv Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 Timestamps: (00:00) Intro (00:27) The case against home ownership (06:07) The U.S. Dollar as a reserve currency (17:49) Sponsor: beehiiv (18:59) Colluding in the oil industry (24:57) Meme stocks (27:40) Why it's hard to copy Renaissance Technologies (36:40) The shutdown of Weiss Multi-Strategy (40:16) Alternative financial histories (45:46) How NewBank attracts talent (49:46) App store dynamics (52:17) Optimal financial education (56:59) Investing in people (01:01:28) Wrap --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne talk about Amazon’s potential to buy a passenger airline, hidden economic gains, equities, and more. beehiiv: Head to https://Beehiiv.com and use code "MOZ" for 20% off your first three months. 🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSORS: beehiiv beehiiv: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- TIMESTAMPS: (00:00) Intro (00:20) Amazon's Unique Business Model and Expansion Strategy (03:11) The Intricacies of the Airline Business Model (05:58) Amazon's Long-Term Strategy and Customer Focus (10:01) Potential for Amazon to Disrupt the Airline Industry (17:27) Sponsor: Beehiiv (18:33) Blackstone's Real Estate Ventures and Market Dynamics (28:26) Understanding Financial Planning and Investment Strategies (29:01) Exploring the Nuances of Preferred vs. Common Stock (31:03) The Impact of Unions on Company Profits and Shareholder Value (35:38) The Role and Evolution of Unions in Balancing Labor and Capital (41:50) Analyzing the New York Times' Adaptation to Digital Media Trends (51:21) The Invisible Efficiencies of Technological Advancements (57:12) Wrap --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne talk about how to apply Costco's business model in other industries, the risky business of Martingale strategies, usage as a potential barrier to AI model development, and more. Get Harmonic: Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSORS: Harmonic | beehiiv Harmonic: Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s data to source deals. Harmonic is the most complete startup database, finding new companies as soon as they incorporate and tracking them through IPO. Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. beehiiv: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- LINKS: Byrne’s writing: https://thediff.co --- TIMESTAMPS: (00:00) Intro (00:21) Unpacking the Hunter Book Model: A New Approach to Monetizing News (07:30) Aligning Media and Investing: Conflicts and Confluences of Interest (12:41) Sponsor: Harmonic | Beehiiv (15:09) The Benefits of Public Markets and Short Selling Insights (18:09) Martingale Beliefs and Betting Strategies in Finance (23:31) The Martingale Thesis and Market Making (27:17) Unlocking the Potential of AI with Usage-Based Lock-In (31:45) Exploring the Costco Business Model and Its Applications (37:46) The Case for GDP-Linked Bonds: A Financial Innovation (40:06) Vertical Software Companies Acquiring Operating Companies (44:37) The Intersection of Media and Tech Companies (46:40) Wrap --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne discuss AI & education, Stripe's shift towards unbundling, and the possibility of 24 hour markets. Get Harmonic: Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSORS: Harmonic | beehiiv Harmonic: Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s data to source deals. Harmonic is the most complete startup database, finding new companies as soon as they incorporate and tracking them through IPO. Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. beehiiv: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne discuss income sharing agreements, the privacy/security/usability efficient frontier, and how Meta ended up with all their GPUs. Get Harmonic: Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSORS: Harmonic | BeeHiiv Harmonic: Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s data to source deals. Harmonic is the most complete startup database, finding new companies as soon as they incorporate and tracking them through IPO. Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. BeeHiiv: Head to Beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://Beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- TIMESTAMPS: (00:00) Intro (00:26) Exploring Income Share Agreements and Lambda School (08:01) The Controversy and Potential of Lambda School (18:46) Sponsor: Harmonic | Beehiiv (21:17) The Bear Case on Income Share Agreements (24:31) Barriers and Threats of Selling New Financial Products (29:51) Innovative Financial Models and Crypto's Role (30:50) Exploring Personal Prediction Markets and Startups (32:51) The Impact of AI on Content Creation and Social Interactions (35:54) Navigating the Continuum of Human and AI Interaction (38:59) Meta's Strategic Shift Towards Generative AI (48:02) The Evolution of Privacy, Security, and Usability in Tech (52:21) Debunking Myths Around Index Funds (1:01:58) Adapting Investment Strategies in an Efficient Market (1:03:40) Wrap --- LINKS: Byrne’s writing: https://thediff.co Erik’s post on income sharing agreements: https://eriktorenberg.substack.com/p/life-capital --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne discuss the acquisition landscape, how to write great business memos, and why it's hard to monetize a successful ChatGPT wrapper. Get Harmonic: Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- SPONSOR: Harmonic Learn why Craft, Bedrock, NEA and 100s more trust Harmonic’s data to source deals. Harmonic is the most complete startup database, finding new companies as soon as they incorporate and tracking them through IPO. Head to https://bit.ly/harmonicturpentine and make sure to mention Turpentine during your demo. --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- Timestamps: (00:00) Intro (00:20) Negative reputation of acquisitive companies (11:50) Sponsors: Harmonic | Turpentine (13:39) Importance of research and its competitive edge (21:37) Exploring the dynamics of unions and corporate strategies (26:11) How to write a great memo (32:49) Challenge of monetizing AI services (37:49) AI's impact on education and standardized testing (43:44) Evolution and future of Ghost Kitchens (52:19) Lessons from '50 Years in Wall Street' (56:53) Insights from Managing a Sovereign Wealth Fund (1:00:00) Wrap --- Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne discuss pivots in hard tech, cybersecurity and privacy, and the considerations in how often to enforce the law. For listeners watching the video, please note that Erik’s video recording dropped out towards the end of the episode. We hope you enjoy the conversation nonetheless. --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- Timestamps: (00:00) Intro (00:29) Hard tech pivots (04:55) Software changes the shape of innovation (08:19) Open source and closed source security models (16:14) AI regulation predictions (18:34) Google's AI monetization (24:24) Why did tech hedge funds invest in a potato company? (28:07) Good customer service is a negative signal for a country’s economic status (34:48) The data business at three resolutions (41:31) Crime prevention and surveillance (44:57) Should we fully enforce the law? (53:49) Wrap --- LINKS: Byrne’s writing: thediff.co --- X / TWITTER: @eriktorenberg (Erik) @byrnehobart (Byrne) @turpentinemedia (Turpentine) --- For guest or sponsorship inquiries please contact [email protected]

On this week's episode of The Riff, Erik and Byrne delve into corporate espionage, algorithmic collusion, and the lifecycle of companies amidst technological changes. --- This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at [email protected]. --- RECOMMENDED PODCAST: Autopilot explores the adoption and rollout of AI in the industries that drive the economy and the dynamic founders bringing rapid change to slow-moving industries. From law, to hardware, to aviation, Will Summerlin interviews founders backed by Benchmark, Greylock, and more to learn how they're automating at the frontiers in entrenched industries. Listen on Spotify: https://open.spotify.com/show/6YQZkKHN7EP2yWedAvSxBC?si=18377c69a2804333 Listen on Apple: https://podcasts.apple.com/ca/podcast/autopilot-with-will-summerlin/id1738163836 --- LINKS: Byrne’s writing: thediff.co --- X / TWITTER: @eriktorenberg (Erik) @byrnehobart (Byrne) @turpentinemedia (Turpentine) --- Timestamps: (00:00) Intro (00:26) Corporate Espionage: The Secret World of Competitive Intelligence (01:30) Facebook's Competitor Analysis (07:15) The Ethical Quandaries of Corporate Spying (15:40) Sponsor: Turpentine (16:29) Outsourcing and the East Asian Economic Boom (22:19) Companies Aging Gracefully in the Business World (25:42) Exploring Business Strategies and Apple's Success (28:56) Evolution of Employment in the AI Era (31:31) AI-Based Coding Tools and Job Creation (33:53) Navigating the Future of Work and AI's Role (39:39) Algorithmic Collusion: A New Frontier in Antitrust (55:29) Wrap --- For guest or sponsorship inquiries please contact [email protected]