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AI is Overhyped as an Investment, Will Only Worsen Inequality (Season 5, Episode 14)Coverart, Season 5, Episode 14 feat Simon Johnson

AI is Overhyped as an Investment, Will Only Worsen Inequality (Season 5, Episode 14)

Published May 31, 2023

Feat Simon Johnson, co-author, ‘Power and Progress, Our Thousand-Year Struggle Over Technology and Prosperity’

MIT Economist Simon Johnson joins the podcast to discuss his book, ‘Power and Progress, Our Thousand-Year Struggle Over Technology and Prosperity’ and specifically why artificial intelligence is likely overhyped, and that not just from an investment perspective.

Content Highlights

  • Artificial intelligence’s default trajectory is about machine intelligence, code for replacing people with machines. Historically, this has not brought great things (1:21);
  • Indeed technological progress has not always benefited everybody, but just a small group at the top. Today’s advancements are no different (5:11);
  • Don’t expect a boost to business either. Productivity gains should be limited (9:17);
  • Some of the dangers of Chat GPT and Google’s Bard that is driving most business development around AI (20:12);
  • Background on the guest (24:26);
  • Thoughts on the current market environment and its potential to spill over into crisis (27:43).

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Author of ‘SBF’ on his Book’s Subject, What Undid FTX, Future of Cryptos (Season 5, Episode 11)

Published May 4, 2023

Brady Dale joins the podcast to discuss his book, ‘SBF: How the FTX bankruptcy unwound crypto’s very bad good guy’ and offer his thoughts on the present and future of cryptocurrencies.

Content Highlights

  • Who is Sam Bankman-Fried exactly? Is he a crook? (Yeah, probably) Misunderstood? The author has known SBF for awhile and states that his subject was initially motivated by effective altruism, or EA … (1:27);
  • FTX was undone by its special treatment of Alameda. If it wasn’t for that, “Sam would still be on the news all the time” today (10:54);
  • Bankman-Fried’s apparent misreading of crypto cycles led to ill-timed bets after Bitcoin hit an all-time high in November 2021 (14:26);
  • In one of SBF’s last conversations with the author, SBF claims he is unlikely to get a fair trial due to being proverbially hung already in the courts of opinion (17:59);
  • Where does SBF rank among other financial market fraudsters? Perhaps Long Term Capital Management is the closest comparison… (23:52);
  • Background on the guest, including what got him to write the book on SBF (34:03);
  • Cryptos should eventually become a normal part of the economy. In many ways the story of SBF vindicates this (38:26);
  • The world only really needs three blockchains: Bitcoin, Ethereum, and Dogecoin (44:28);
  • Crypto regulation was supposed to have happened already, but it all seems to be talk (49:58).

More From Brady Dale

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Convertible Bonds Offer Protection Against Stagflation, Other Ills Facing Markets: Daniel Partlow (Szn 4, Ep23)

Published September 6, 2022

Daniel Partlow, chief risk officer at Advent Capital Management, joins the podcast to discuss convertible bonds. Partlow is a specialist in these securities, having written a book on the subject titled ‘Convertible Securities: A Complete Guide to Investment and Corporate Financing Strategies.’

Content Highlights

  • First, the basics: What are convertible bonds and how do they work? The asset class has actually been around for more than three centuries… (3:29);
  • Some of the characteristics of converts include a maturity of about four to five years but with low interest rate sensitivity of much shorter duration bonds (6:42);
  • A typical balanced convert will provide downside protection (via the bond floor) and upside potential through the equity participation (9:18);
  • Converts have done well in inflationary environments, with less volatility than stocks (11:44);
  • The default rate for converts is a fraction of high yield and leveraged loans (20:38);
  • Background on the guest (24:59);
  • The specter of stagflation and how converts can protect against that (27:50);
  • Where might there be particular opportunities in the converts market right now? (33:07);
  • Examples of individual securities that may be of interest (37:52).
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