E48: Facebook vs MySpace, Why Peter Thiel is Wrong About Competition, and OpenAI Corporate Structure

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.

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🎙️ 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

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YouTube: https://www.youtube.com/@ThisWontLastpodcast

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LINKS:

Byrne’s writing: https://thediff.co

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X / TWITTER:

https://twitter.com/ByrneHobart (Byrne)

https://twitter.com/TurpentineMedia (Turpentine)

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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