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Noah Smith and Erik Torenberg discuss the state of the economy, whether tech and the VC ecosystem are doing well or facing a rolling recession, and unpack assumptions about wealth in the United States.
Noah Smith and Erik Torenberg discuss the state of the economy, whether tech and the VC ecosystem are doing well or facing a 'rolling recession', and unpack assumptions about wealth in the United States. Make informed decision for high impact donations with GiveWell, which is offering Econ 102 listeners donation matching up to $100. To claim your match, go to givewell.org ➡️ pick “Podcast” enter Econ 102 at checkout.
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Sponsors: GIVEWELL | DAFFY | NETSUITE
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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co
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RECOMMENDED PODCAST:
New Show: Age of Miracles
Age of Miracles is a narrative show that explores the complex industries that will play an important role in creating an abundant future for humanity.
Every season, host Packy McCormick brings in an expert cohost to go deep into the possibilities and challenges of making “sci-fi” dreams our reality in our lifetimes. The first season starts at the root of all progress and prosperity: unlocking 10x more clean and reliable energy by splitting and fusing atoms themselves—going nuclear. Episodes 1 and 2 drop October 27th
Subscribe to the podcast: https://link.chtbl.com/ageofmiracles
Listen on YouTube: https://www.youtube.com/@age-of-miracles/videos
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LINKS:
- Noah Smith, Great News on American Wealth https://www.noahpinion.blog/p/great-news-about-american-wealth
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X / TWITTER:
@noahpinion (Noah)
@eriktorenberg (Erik)
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TIMESTAMPS:
(00:00) Episode Preview
(01:05) The Rolling Recession?
(03:55) When Are Venture Capitalists gonna get rich again?
(06:15) Will rate cuts go down?
(08:15) Factory Model of Venture Capital
(10:20) Crypto's correlation to the markets
(14:15) Sector specific shocks screwing the economy
(16:50) Sponsors: GiveWell | Daffy
(20:00) The temperature metaphor in economics
(22:41) Regular Americans are getting richer
(25:02) How accurate are the measurement of inequality statistics in terms of reflecting true inequality?
(30:15) Why inequality might be good in economics
(36:55) What mechanisms led to inequality going down
(41:00) Skyrocketing prices and poor regulation of markets
(47:00) Piketty's arguments on inequality
