"Econ 102" with Noah Smith and Erik Torenberg

This is a bonus episode for Econ 102 listeners of The Riff with Byrne Hobart and Erik Torenberg, recorded on Monday night 11/20, discussing the evolving story of Sam Altman’s ousting at OpenAI and new home at Microsoft, what OpenAI's next pivot could look like, the new competitive landscape for the big AI players, and Effective Altruism’s role in this drama. Need Soc 2 compliance? Get 20% off your first year of Secureframe by mentioning "The Riff" during your free demo: https://secureframe.com/riffThe Riff is a new podcast from the Turpentine podcast network. Subscribe to The Riff: https://link.chtbl.com/theriffWe're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE | SECUREFRAMEHave you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to https://givewell.org and pick “Podcast” and enter Econ 102 at checkout.Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.Secureframe: the only compliance automation platform with AI capabilities that help customers speed up cloud remediation and security questionnaires. Get 20% off your first year of Secureframe by mentioning "The Riff" during your free demo: https://secureframe.com/riff--LINKS:Byrne's writing: https://thediff.co--X / TWITTER:@eriktorenberg@byrnehobart--TIMESTAMPS:(00:00) Introduction from Erik(00:50) Non obvious thoughts about governance and legal structures(03:50) Could the board have found out something about Sam?(05:00) Tech’s online coordination and choosing sides(06:20) Why haven’t the OpenAI board shared their reasoning?(12:20) Are they going to bring Sam back?(15:20) What should OpenAI’s pivot be?(17:35) Sponsor: Secureframe(18:40) Analyzing Microsoft's moves and the sweetheart deal(22:00) Satya's succession plans(25:05) OpenAI's unique governance structure(28:10) Why Byrne is long on Microsoft(36:00) What explains Microsoft's turnaround?(38:15) Meta and Google(44:20) Which of these companies Byrne would short: Apple, Amazon, Google, Facebook, Microsoft(46:20) Was this a coup from the Effective Altruism movement?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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg discuss Noah’s travel reflections from Singapore, the recent San Francisco cleanup, and the dystopian routes of progressivism. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.–Sponsors: GIVEWELL | DAFFY | NETSUITEHave you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to https://givewell.org and pick “Podcast” and enter Econ 102 at checkout.Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.–Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co–RECOMMENDED PODCAST:Odd Lots is a Bloomberg podcast hosted by Joe Weisenthal and Tracy Alloway. Each week they speak with the perfect guest to explore the most interesting topics in finance, markets and economics.https://www.bloomberg.com/oddlots–RECOMMENDED PODCAST: Every week investor and writer of the popular newsletter The Diff, Byrne Hobart, and co-host Erik Torenberg discuss today’s major inflection points in technology, business, and markets – and help listeners build a diversified portfolio of trends and ideas for the future. Subscribe to “The Riff” with Byrne Hobart and Erik Torenberg: https://link.chtbl.com/theriff–RECOMMENDED PODCAST: LIVE PLAYERSJoin host Samo Burja and Erik Torenberg as they analyze the mindsets of today’s most intriguing business leaders, investors, and innovators through the lens of their bold actions and contrarian worldviews. You’ll come away with a deeper understanding of the development of technology, business, political power, culture and more. LIsten and subscribe everywhere you get your podcasts: https://link.chtbl.com/liveplayers.–TIMESTAMPS:(00:00) Episode Preview(01:53) Noah’s Travel Reflection(03:58) Singapore’s Secret to Solar Punk(07:33-18:08) Policies we can learn from Singapore(10:06) Healthcare(11:33) Housing Policy(16:35) Singapore and El Salvador’s Strict Crime Policies(18:09) Sponsor: GIVEWELL(19:35) San Francisco’s Sudden Cleanup(22:00) Government and Social Media and AI(31:00) Sponsors: DAFFY and NETSUITE(33:22) Progressive Dystopias(39:47) Immigration vs Gentification(43:38) Progressive Education(46:47) Why Liberalism is Losing the Information War(51:50) Banning Tik Tok(57:32) Pronouncing Xi Jing Ping Correctly Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg discuss the new geopolitical dynamics in Asia and the Middle East, why demographics may mean waning conflict, and take a dive into Ireland’s wealth. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.– Sponsors: GIVEWELL | DAFFY | NETSUITEHave you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to https://givewell.org and pick “Podcast” + enter Econ 102 at checkout.Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.– Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co–RECOMMENDED PODCAST:Odd Lots is a Bloomberg podcast hosted by Joe Weisenthal and Tracy Alloway. Each week they speak with the perfect guest to explore the most interesting topics in finance, markets and economics.https://www.bloomberg.com/oddlots–RECOMMENDED PODCAST: Every week investor and writer of the popular newsletter The Diff, Byrne Hobart, and co-host Erik Torenberg discuss today’s major inflection points in technology, business, and markets – and help listeners build a diversified portfolio of trends and ideas for the future. Subscribe to “The Riff” with Byrne Hobart and Erik Torenberg: https://link.chtbl.com/theriff–LINKS:- Noah Smith, How Ireland Got So Rich https://www.noahpinion.blog/p/how-ireland-got-so-rich- Noah Smith, The Middle East is Getting Older: https://www.noahpinion.blog/p/the-middle-east-is-getting-older–X / TWITTER:@noahpinion (Noah)@eriktorenberg (Erik)–TIMESTAMPS:(00:00) Episode Preview(01:47) Noah’s reflections from the Kilkenomics Festival​​(02:44) Why and how Ireland got rich(11:14) What is the legacy of Brexit?(13:16) Pro and counter arguments for Brexit(15:27) Sponsors: GiveWell | Daffy(18:10) Noah on the 2nd Cold War(24:20) Why Asia is more important to the US than the Middle East(29:57) Sponsor: NetSuite(31:04) Iran in the Israel-Gaza conflict(34:45) Predictions for the next decade in Middle East(41:17) On fertility rates (45:51) Where would Israel be in 10 years?(50:13) The endless pressures on Israel(51:07) What would need to be true for Noah to be bullish on Israel?(57:08) Countering the collaboration between Gaza and Israel Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

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.We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.–Sponsors: GIVEWELL | DAFFY | NETSUITEHave you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the HIGHEST-IMPACT opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout.Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don't just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite ✅ http://netsuite.com/102 and download your own customized KPI checklist.–Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co–X / TWITTER:@noahpinion (Noah)@eriktorenberg (Erik)–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 inequalityThis 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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg discuss Marc Andreessen’s Techno-Optimist Manifesto (a16z), the last waves of economic innovation, energy advancement, and predict the next wave of productivity gains from private and government-enabled innovation. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.–Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.–Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co–LINKS:- Noah Smith, Thoughts on Techno-Optimism https://www.noahpinion.blog/p/thoughts-on-techno-optimism - Marc Andreessen’s Techno-Optimist Manifesto https://a16z.com/the-techno-optimist-manifesto/- Robert Gordon, The Rise and Fall of Economic Growth https://en.wikipedia.org/wiki/The_Rise_and_Fall_of_American_Growth#:~:text=Gordon%20considers%20that%20the%20apparent,growth%20between%201920%20and%201970.- Miles Kimball (Econ 102’s actual Econ 102 professor) https://en.wikipedia.org/wiki/Miles_Kimball–X / TWITTER:@noahpinion (Noah)@eriktorenberg (Erik)–TIMESTAMPS:(00:00) Episode Preview(01:25) Reaction to Marc Andreessen’s techno-optimism manifesto(04:22) Where Noah disagrees: technology does not always empower individuals(08:05) How to overcome the natural incentive problem of innovation(11:55) Economist Robert Gordon and no analog to step changes in innovation(15:50) Sponsors: Daffy | NetSuite(21:50) Nuclear energy and other energy advancements(29:40) GDP is utterly unprepared for changing preferences(33:40) Productivity boom 1987-2004(36:58) Was the smartphone actually a step change in productivity?(39:42) Next wave of innovation(41:50) Where Noah disagrees with Marc Andreessen(44:15)Government vs privatized enablement of innovation(49:50) Real sustainability is important and possibleThis 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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg continue their analysis of the Israel-Gaza war, against the backdrop of shifting geopolitical power, increasing conflicts, and the end of Pax Americana. They also discuss why Noah expects a China-Taiwan conflict, and the possibility of WWIII. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Episode Preview(01:50) Commentary on the Israel-Hamas war(03:41) The idea that wars end(07:34) The US has lost its unipolar moment(09:12) Should Israel double Gaza’s GDP to prevent violence?(15:05) Rich and aggressive? (19:50) Sponsors: Daffy and NetSuite(22:02) Collapse of Pax Americana means countries feel safer declaring war(22:59) Hotspots for conflict: Azerbaijan and Armenia, Serbia and Kosovo(25:52) If China attacks Taiwan, what happens(29:32) How should international companies get ready?(31:12) Auditing supply chain(33:50) Recap of the tension between Taiwan and China(35:14) Strategic Ambiguity(38:11) Other key players in the Taiwan-China conflict(47:10) The Europeanization of the Ukraine war(50:17) We have nukes in Germany(51:03) Comparing Obama/Trump/Biden policies(53:37) What we’re actually doing vs the illusion of what we’re doing with Iran(54:26) How should the government get ready?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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg record an episode to discuss the war between Israel and Hamas, the moral problems with the leftist ideological response, the complicated geopolitical power dynamics in the Arab world, and how this conflict marks the waning of American power. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Unpacking the events that led to war in Israel(05:18)Moral problems of the new leftist ideology(11:00) Power dynamics of the Middle East and investment in the conflict(21:29) Sponsors: Daffy | NetSuite(23:30) Reacting to Sam Harris' statement about moral equivalence(33:20) Is apartheid a fair analogy?(41:00) Where the Saudi Arabia alliance goes from here(46:30)The three-state solution?(47:00) Taking stock of technological advancement(52:00) Israel's military advantage is not guaranteed here(54:55) This war is downstream of the waning of American power(57:30) America is reserving most of our weapons(01:01:15) What does it mean for the Pax Americana to be over?(01:05:30) The Middle East is stuck in a mindset of war–Music License: ZSFI0EY7UP5YYXI2This 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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Economist Noah Smith and Erik Torenberg discuss the legacy and failings of Bernie Sanders’ movement with regards to privatization, student loans, healthcare, and the wealth gap. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--Timestamps(00:00) Episode Preview(01:32) The Bernie movement’s evolution(05:00) Factionalism and aggression marking the approach of socialists(15:36) Glass-Steagall litmus test(19:00) Sponsors: Daffy | NetSuite(21:11) Can neoliberalism work?(22:34) Biggest mistakes of privatization: the non-profit industrialization complex(26:18) Lack of industrial policy is a pro-finance policy(27:30) Chief neoliberal shill(30:05) How Biden is carrying forward the legacy of Bernie’s movement(34:10) Inflation killed student loan relief (besides the courts)(41:00) How Bernie bungled his egalitarian movement(48:45) Wealth tax(50:55) HealthcareThis 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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Economist Noah Smith and Erik Torenberg discuss Noah's Substack essays about a possible age of Austerity, and moving away from China for the US's next age of globalization. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join: https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--LINKS:“An Age of Austerity is probably on the way” : https://www.noahpinion.blog/p/an-age-of-austerity-is-probably-on“No one knows how much the government can borrow” : https://www.noahpinion.blog/p/no-one-knows-how-much-the-government“The next phase of globalization is going to be awesome” : https://www.noahpinion.blog/p/the-next-phase-of-globalization-is--Timestamps:(00:00) Episode Preview(01:24 - 23:48) Age of Austerity(04:27) Reducing the deficit(02:47) What spending cuts will we see?(06:10) What’s the bottom line for growth?(18:38) Sponsors: Daffy and Netsuite(23:49) Adjust your graphs for inflation!(25:22) Why a cheaper US dollar is actually a weapon(26:55) Chinese “dumping”(29:42) The next wave of globalization is going to be awesome(32:29) China is a nuts country(33:35) Are we deglobalizing?(35:51) South and Southeast Asia(43:19) Economic Nationalism is here to stay(46:57) Globalization moving forward is about reducing our dependency on China--X / TWITTER: @noahpinion (Noah)@eriktorenberg (Erik) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Economist Noah Smith and Erik Torenberg discuss Noah's recent Substack post skewering the claims and proposals that make up Republican Presidential candidate Vivek's Ramaswamy's platform. Noah covers Vivek's climate science sources, economic facts on renewable energy, foreign policy stance towards China, Russia, Taiwan and more. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS: (01:00) Episode Preview(03:20) Why Noah doesn’t think Vivek should be tech’s candidate(07:20) Vivek’s views on climate are stuck in 2010(13:15) Countering Vivek’s sources on climate(17:52) Sponsors: Daffy | NetSuite(21:00) Vivek's foreign policy claims(27:00) Viviek's Russia & Ukraine takes(31:45) Any charitable view of Vivek's foreign policy?(33:00) Biden vs Trump vs Obama foreign policy(40:00) Noah's ideal foreign policy: the Anti-Empire(44:00) Republicans need to advocate for defense spending(46:00) Similarities between abundance movement and dismantling the administrative state(50:00) Noah's pick for Republican candidate(57:00) Why Vivek is not the one. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg are joined by Adam Nash to discuss the economic implications of AI, the recent tech downturn, and why the venture model has been so successful across multiple tech booms. Daffy is offering Econ 102 listeners, a free $25 for the charity of their choice when they join Daffy. https://www.daffy.org/econ102 We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Episode Preview(02:00) Why AI may stop nerds from ruling the world(06:25) Are “Skilled” and “Unskilled” the correct labels in this debate?(10:00) Who benefits from a growth mindset?(13:00) Coding example(14:25) Highly skilled tech workers get a boost(17:20) Substitutability versus overall boost(20:55) Sponsor: NetSuite(23:45) AI as a productivity tool(25:30) AI ethics and safety(28:50) Adam Nash’s journey into fintech(30:55) How Americans think about giving(33:30) Macro: What does the current Tech downturn mean?(35:00) People looking for a quick snapback and boom will be disappointed(37:00) How will AI revolutionize distribution?(39:50) Smartphones and depression(43:45) Why the VC model has been so successful across multiple technology booms. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith and Erik Torenberg discuss how today’s economy compares to the Reagan-era, cheap oil geopolitics, how much the war in Ukraine is actually costing the US, and the economics of the populist anthem Rich Men North of Richmond. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/102We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co🎧 You can also listen to Econ 102 on the podcast platform of your choice: https://link.chtbl.com/Econ102--Timestamps:(01:13) What would a better US economy look like?(05:59) Debt gets inflated away(09:02) Fiscal Dominance(09:59) Age of cheap oil(19:05) Noah vs. Balaji Srinivasan’s bearish case that the US financial system is vulnerable.(27:25) How the Reagan Era Compares to Today(32:28) Economic attribution for presidents(43:12) The surplus war in Ukraine(49:05) Fact checking the economics of Rich Men North of Richmond(57:47) Is the age of the nerd over?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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In episode 8 of ECON 102, Noah Smith and Erik Torenberg discuss the factors brewing up a major crisis for China’s economy, and what this means for the US and other international powers. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentineWe're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Episode Preview(01:37) Noah’s observations from his trip to Japan(03:03) Chinese Economic Carnage(04:09) Who is affected?(04:59) How will falling resource prices affect inflation?(14:12) China’s upcoming recession(16:41) China’s building investments need to stop(20:12) China’s paradox of thrift(20:57) China’s boomer republican leaders(21:39) What can China’s growth look like from here?(27:11) What are China’s options for allaying the unrest?(28:44) Extend and Pretend(29:26) Balaji was wrong about China as diplomatic power(33:18) China owns a Sri Lankan city now(34:04) When Noah was most bullish on China’s future: the Hu Jintao era(36:33) Xi JinPing as Stalin; Steve Ballmer(40:00) The revolution of rising expectations theory in American (44:52) Spelling out our biggest fears about China(47:23) Successes in recent alliances: Japan and Korea alliances, India, Vietnam,(51:00) What are we watching for next?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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In episode 7, Noah Smith and Erik Torenberg discuss student debt, millennial politics, conservatism, international relations, and more. If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentineWe're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TOPICS COVERED:(01:00) Episode Preview(02:45) Evolution of Noah’s opinion on student debt(06:40) Income-based repayment(09:50) For-profit academic institutions(14:09) Tax-income fund research(16:02) Sponsor: NetSuite(19:00)Were Millennials really generation-screwed?(20:27) Millennial’s stance on politics(25:07) Millennial’s becoming Conservative?(27:02) How Conservatism evolved up to today(34:50) Trump’s Foreign Policy: Russia & Ukraine(39:13) The Right on Taiwan vs China(40:50) Would China Pearl Harbor us?(44:18) Consequences of wealth inheritance(48:00) What will Gen Z’s Politics look like?(49:30) Ketamine is lame(50:05) Liberal depression(54:07) Theory of biological imbalance--LINKS:Will There be a Millennial Chill https://www.noahpinion.blog/p/will-there-be-a-millennial-big-chill--X / TWITTER:@noahpinion (Noah)@eriktorenberg (Erik)--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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Today we’re publishing a debate about industrial policy between Noah and Mike Bird, the Asia business and finance editor at The Economist. Noah highlights the importance of steering the economy to ensure that industries align with national goals and priorities. Bird questions the effectiveness of industrial policy, especially in developed countries. He argues that market forces and competition should determine the allocation of resources, rather than government intervention. Where do you stand?If you’re looking for an ERP platform, check out our sponsor, NetSuite: http://netsuite.com/turpentine We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is part of the Turpentine podcast network. Learn more: www.turpentine.co--TIMESTAMPS: (00:00) Episode Preview(01:23) How this debate came about(02:25) Why doesn’t The Economist have bylines?(04:55) Chris Odendahl of The Economist’s article saying the focus on manufacturing policy is a delusion(09:15) Is Korea the paragon of industrial policy?(11:20) Overlooking military spending and the chip industry(15:19) Industrial policy crucial for national security(17:42) Sponsor: NetSuite(18:45) Gish Gallop: https://en.wikipedia.org/wiki/Gish_gallop(19:14) Complexity of policy implementation(20:30) The exercise metaphor: multiple benefits(29:34) Subsidies may not ensure resilience(40:33) Balancing goals in geopolitics(43:40) Carbon pricing (51:45) Manufacturing jobs(53:35) Leveraging local multipliers (agglomeration effects)(1:00:56) Industrial policy can have multiple benefits(1:03:02) Local multipliers benefit economic activity(1:09:24) Need for rigorous economic analysis(1:19:27) Determined optimism drives progress(1:20:05) Friend-shoring is often highly preferable to reshoring--TWITTER:@birdyword (Mike)@noahpinion (Noah)@eriktorenberg (Erik)--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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In episode 5, Noah Smith and Erik Torenberg discuss the promise and failings of higher education, working class economic prospects, the American healthcare system, and more. Noah’s articles are linked below. Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--TIMESTAMPS:(00:00) Episode preview(01:23) How Noah joined, and then left academia(04:29) The current state of universities(09:30) Universities should invest in student companies indirectly(11:03) Why Americans are falling out of love with college(15:37) What stopped colleges from being able to provide a job and intellectual fulfillment (15:48) Sponsor: NetSuite(19:55) It's not harder for the average non-college educated American to get jobs nowadays(22:00) Michigan's rust belt(24:08) Was populism driven by economic or socio-cultural factors?(26:23) Is the working class grievance justified?(29:00) Why we don't have a healthcare system like Japan or Korea's(31:42) Healthcare and housing instead of UBI(36:45) Expectations around higher ed(41:00) Why aren't employers starting their own universities?(43:50) Custom training programs for big corporations(45:57) What higher education will look like a decade from now--LINKS:Americans are Falling Out of Love with the Idea of College https://www.noahpinion.blog/p/americans-are-falling-out-of-love--X / TWITTER:@noahpinion (Noah)@eriktorenberg (Erik)--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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Noah Smith guests on the Moment of Zen podcast (hosted by his Econ 102 co-host Erik Torenberg and founder Dan Romero) to discuss California land use, housing, politics, policing, and more. Subscribe to listen to Moment of Zen, a weekly show about tech, business, and culture, wherever you listen to podcasts: https://link.chtbl.com/mozWe're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--SPONSOR:NetSuite provides financial software for all your business needs. More than thirty-six thousand companies have already upgraded to NetSuite, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you're looking for an ERP platform ✅ NetSuite: http://netsuite.com/turpentine and defer payments of a FULL NetSuite implementation for six months.--Econ 102 and Moment of Zen are part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Episode Preview(01:07) Antonio as Dennis Rodman(02:05) The left and right version of “it’s time to build” i.e. Ezra Klein vs Marc Andreessen(04:50) California skewed political identities(07:00) California vs Texas GOP stance on immigration(09:30) Should Gary Tan strategize from the left or the right, structurally(11:11) Can the Asian block become a machine in SF? In California?(12:50) Is LA better run than SF?(17:40) What’s the best run city in the US?(22:15) Best format for affordable housing in cities(26:30) California is a class society based on land(28:40) House-rich progressives in California(31:00) Prop 13, property tax, and SALT debates(39:30) The tide of YIMBYism(51:10) Effective building in Japan(58:00) YIMBY movement in SF lost because of crime(59:00) The future of San Francisco(01:09:00) Policing(01:16:00) WWII and the atom bomb(01:22:00) Will patriotism come back?(01:25:00) Biggest misconception about Japan?--LINKS:Noah's Substack https://www.noahpinion.blog/Book Recommendation on Prop 13: Golden Gates https://www.amazon.com/Golden-Gates-Fighting-Housing-America/dp/0525560211--X / TWITTER:@noahpinion (Noah)@dwr (Dan)@eriktorenberg (Erik)@moz_podcast--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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In episode 3, Noah Smith and Erik Torenberg track China's housing bubble, its healthcare crisis, and Taiwan in relation to China and Japan. Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.coWe're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--TIMESTAMPS:(00:00) Episode Preview(01:20) Metabanter and how Noah TA'ed Erik's Econ 102 class(02:41) Overview of China's economy(05:11) Why are we seeing a slowdown in China's growth?(07:13) The US housing bubble compared to China's(10:03) What are the concerns around China's real estate?(13:28) Evergrande, the Lehman Brothers of China(15:08) Predictions for the next few years of China's economy(17:02) What does China's slowdown mean for their position in the world at large?(18:19) China's demographics in a decade(21:36) US-China relations(25:01) US vs China's defence capabilities(27:54) Noah's plan for dealing with China(32:24) The political coalition preserving regulations(33:40) What should China be doing to course correct?(37:24) China's calculus about Taiwan(38:53) Japan's views on Taiwan and China(41:30) One Belt One Road Initiative and Xi Jinping's Legacy--SPONSOR THIS PODCAST:We're looking for sponsors to partner with on this show. If you or your business might be interested, send us a note at [email protected]. Find out more here: https://www.turpentine.co/sponsorsThis 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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In episode 2, Noah Smith and Erik Torenberg track the fracturing of the Libertarian movement, the culture wars, and which ideas deserve not to die.We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITE Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout. Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102 NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Episode preview(12:54) Why did Libertarians lose?(15:00) Free trade failure in the 2000s(19:00) Libertarians jumping on the Trump train(19:45) Evolution to state-capacity libertarian(22:00) Culture wars vs. getting the economics right(27:30) Effect of money on politics(29:00) Urban fragmentation: San Francisco and New York(30:30) Hot take: Gavin Newsom underrated(37:00) How the right soured on the free markets and became became statist(39:00) Can a 'reset' work(40:20) Which ideas deserve not to die?--SPONSOR THIS PODCAST:We're looking for sponsors to partner with on this show. If you or your business might be interested, send us a note at [email protected]. Find out more here: https://www.turpentine.co/sponsors--LINKS MENTIONED:Where Does Libertarianism Go From Here? https://www.noahpinion.blog/p/where-does-libertarianism-go-fromTyler Cowen, State-Capacity Libertarianism https://marginalrevolution.com/marginalrevolution/2020/01/what-libertarianism-has-become-and-will-become-state-capacity-libertarianism.html--TWITTER:@noahpinion (Noah)@eriktorenberg (Erik)--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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In our first episode of Econ 102, Noah Smith and Erik Torenberg discuss the highs and lows of Biden's first term, Biden's policies in comparison to previous presidents and other leaders, as well as China -- its real estate sector, industrial and manufacturing industries, and its views on tech.We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.--Sponsors: GIVEWELL | DAFFY | NETSUITEHave you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the highest impact opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout.Daffy is the most modern and accessible donor-advised fund, making it easier to put money aside for charity. You can make your tax-deductible contributions all at once or set aside a little each week or month. And you don’t just have to donate cash, you can easily contribute stocks, ETFs, or crypto. Plus, you never have to track receipts from your donations again. It’s free to get started and Econ 102 listeners get $25 towards the charity of their choice. Daffy is offering Econ 102 listeners a free $25 for the charity of their choice when they join Daffy https://www.daffy.org/econ102NetSuite has 25 years of providing financial software for all your business needs. More than 36,000 businesses have already upgraded to NetSuite by Oracle, gaining visibility and control over their financials, inventory, HR, eCommerce, and more. If you’re looking for an ERP platform head to NetSuite http://netsuite.com/102 and download your own customized KPI checklist.--Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co--TIMESTAMPS:(00:00) Episode Preview(01:24) Overview of Biden's first term(02:56) The most important thing Biden's done (12:19) What are the chances of Trump returning?(14:03) In the 1970s once again(14:47) Woke concerns among Republicans(15:38) Noah's ideal foreign policy(17:46) Japan's importance in foreign policy(19:29) Main foreign policy concerns in the next cycle(20:30) The ideal containment strategy(22:55) China(26:23) Getting to 1 billion Americans as a foreign policy measure(27:24) Real estate in China(31:33) Comparing and contrasting Chinese and American industrial policy(37:02) China's stomp on the IT industry to encourage manufacturing(39:09) The difference in Chinese and American views of manufacturing (43:18) Revitalizing American manufacturing (46:08) The services industry(48:03) A shortage of human truckers --SPONSOR THIS PODCAST:We're looking for sponsors to partner with on this show. If you or your business might be interested, send us a note at [email protected]. Find out more here: https://www.turpentine.co/sponsorsThis 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]. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.