16 korrents from this recording
Every claim below is a statement made in this recording, quoted word for word and linked to the second it was said, so you can hear it rather than take our word for it. The wording comes from the transcript published alongside the recording; the sentence above each quote is our reading of the claim, not their wording.
0:03:29 · watch on youtube.com↗
Their wordsWhat what I find generally is if I don't understand something, I I try to read backwards and and and kind of the further back back I read, the more universal things I find. And the more things that I think are kind of remarkable and unique to our era actually turn out to be quite universal.
0:07:14 · watch on youtube.com↗
Their wordsAnd so all of the people who have achieved positions of power and authority in the world based on prior generations of technology are inherently threatened by new technology because new technology will upend the power and status structures and then a new set of people will, you know, come to the foreground and and take the power.
0:12:37 · watch on youtube.com↗
Their wordswhat we have now is kind of at the at the sort of deepest level what we have is kind of this big fight between people who want to use the internet to basically reinforce top-down power uh, versus people who want to use it to disrupt top-down power.
0:17:05 · watch on youtube.com↗
Their wordsit's like could you ever have another Soviet Union like in the era of the internet? Um you know North Korea's doing their damndest to try to maintain that model you know but without going full North Korea like I'm not sure you can. I I mean, I guess I'm an optimist on this point. Like I tend to think open access information basically makes a lot of these historical things, you know, fundamentally impossible.
0:21:01 · watch on youtube.com↗
Their wordsA successful startup has about five years until they become a new incumbent. Um and and they actually start to behave like an incumbent. That's rational. Like of course that's rational. Like they've now built something worth defending.
0:22:31 · watch on youtube.com↗
Their wordsI I would I would not say that about Google. I would just say that more generally like that is the incumbent temptation. Um it is is basically is basically go from attack mode to defend mode, right? Go from being the pirate to being the navy.
0:28:06 · watch on youtube.com↗
Their wordsas you age, you just naturally build up all of this all of this sort of psychic scar tissue and you have all these cautionary lessons in your in your head all the time. And you just you and and therefore as a consequence, right? Your your aperture of what you're willing to explore as you get older just shrinks.
0:31:09 · watch on youtube.com↗
Our reading
Almost everything worth doing sits in a probabilistic domain where a perfect score is not available.
Their wordsin quote-unquote real life, right? Which is starting businesses or you know, writing books, right? Or composing music or playing basketball or playing poker, right? Or basically doing anything interesting we're in a probabilistic domain, right?
0:33:30 · watch on youtube.com↗
Their wordsI no longer think there are any bad ideas. I I no longer think there are any qualified people starting tech companies that actually have bad ideas. I think all the ideas are good ideas. Um, I think it's just a I think it's just a question of timing and execution.
0:34:06 · watch on youtube.com↗
Their wordsyou can go through the entire, I think at this point, catalog of all of the failed dot com ideas of the late 1990s, and I believe they've now all worked.
0:36:31 · watch on youtube.com↗
Their wordsthe reality is the kids that make new things work from scratch. It actually turns out that they actually have been deep in the domain for a long time. Almost every case, they've been thinking hard about the problem that they're trying to solve actually for in in a lot of cases for many years.
0:48:43 · watch on youtube.com↗
Their wordssuccess or failure is not at the unit of an individual investment. Right? Success or failure is at the level of a portfolio.
0:54:14 · watch on youtube.com↗
Their wordswe built that system and then we set it on autopilot um and it's been on autopilot for 100 years and here we are and it doesn't fit at all to the world we live in today.
0:54:51 · watch on youtube.com↗
Our reading
School reform cannot work, because the system being reformed has no intention of being reformed.
Their wordsI'll tell you one thing I don't believe in is reform. Like I have all these friends that work on like you know school reform. God bless them like they're just the wonderful most wonderful sweetest well-intentioned people in the world and they're just burning huge amounts of money and time on trying to reform the system that has absolutely no intention of being reformed.
0:57:46 · watch on youtube.com↗
Their wordsAnd then you have a choice which is do you blame the people who are exhibiting the terrible behavior or do you blame the people who created the incentives? Right? And and and he he believes and I agree on this. I I think 100% you blame the people who created the incentives.
1:01:19 · watch on youtube.com↗
Their wordsa lot of industries over time end up not like that. They end up not being actually a fair and free market with market discipline. They end up as something else. In the business world, what they end up with is either just, you know, one company with a full up monopoly or more commonly they end up with what's called an oligopoly