Topics & People

The potential for artificial intelligence to cause widespread job loss, drawing a parallel to the 25% unemployment rate seen during the Great Depression following the 1929 crash.

The characteristics, key events, and situations which compose the essentials of human existence, such as birth, growth, emotion, aspiration, conflict, and mortality. In this context, it refers to the perpetual human desire for 'more,' which drives market frenzies and speculation regardless of regulations.

The use of government spending and taxation to influence the economy. The discussion touches upon current government spending levels as a potential source of economic instability.

A type of economic bubble characterized by rapid escalation of market value, particularly in the price of assets, caused by an excessive supply of money in an economy. The podcast questions if the current market is in a monetary, inflationary, or speculative bubble.

The acting head of J.P. Morgan & Co. during the 1929 crash. Sorkin discovered transcripts of his phone calls with Hoover and Roosevelt in the archives at Harvard's Baker Library.

An asset class involving non-bank lending, which Third Point has expanded into.

The spread of behaviors, attitudes, and affect through crowds and other forms of social aggregates. In the 1920s, a social contagion around wealth creation fueled the stock market bubble, amplified by new media like radio.

An executive at General Motors and a prominent entrepreneur of the 1920s, described as the 'Elon Musk of his era'. He advocated for the 'ordinary investor' and attempted to create an early version of a mutual fund.

Former US President referenced regarding the last time the Supreme Court struck down such sweeping executive policy.

The 31st U.S. President, in office during the 1929 crash. His administration's response, including raising taxes and enacting the Smoot-Hawley Tariff, is often cited as worsening the subsequent depression.

A severe worldwide economic crisis. Molly Bloom notes the surreal experience of running a poker game with $10 million on the table in New York City while the President was on TV addressing the nation about the economic collapse.

A severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States after the Stock Market Crash of 1929.