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Things People Say on Podcasts About Money & Markets

Macro economics, investing, markets, and finance.

Everything worth repeating from the Money & Markets shows we follow. Updated every day — free to search and free to use, attribution included on every card.

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“I get a lot of emails from outside folks that … they've been playing with their AI system. They've proven a new result and the AI told them it was really important and they need an MIT professor to validate, which is absolutely fascinating.” — Justin Solomon, Odd Lots “A lot of those deals started off really crazy, like where it would be a show that didn't yet exist with somebody who had some level of fame and suddenly they were getting, you know, $8 million a year to make something that they hadn't even decided what it was yet. And that really screwed these networks because they didn't have the download numbers to bring in the advertisers that they needed.” — Jenna Weiss-Berman, Freakonomics Radio “Let's imagine an AI automated show produced in real time. It could be a tragedy or a big event in the news. It happens so you can knock out that podcast before any human can get to market. Let's say it gets just 200 plays, okay? And you've got a $20 CPM on those 200 plays. That means you've earned … $4. And let's just slap a marginal cost down there of $3 in production costs. So that means you've made a dollar profit. And it's the ability to flood the market because plays mean money.” — Will Page, Freakonomics Radio “If you are bullish on AI and its ability to boost productivity across the board, in my mind, you have to be bullish on Europe because there is no region out there, perhaps, more motivated than Europe to try to eke out every extra ounce of output per work hour.” — Tracy Alloway, Odd Lots “At the European intergovernmental level, you have 27 countries that all sort of hate each other, but all have different veto powers.” — Dominik Leusder, Odd Lots “The biggest impact I think it's had, though, is it's been a weapon of mass anxiety. It has been the singular cause of a massive amount of anxiety worldwide, but especially in America.” — Cal Newport, Prof G Markets “The era of anthropomorphized chatbots was an accident. ChatGPT was never meant to be a major product of OpenAI. That caught them off guard when it began to take off in late 2022.” — Cal Newport, Prof G Markets “I don't think that we necessarily have an AI bubble right now that is infecting the totality of markets. ... But we do have an AI lab bubble where there seems to be too much excitement and too much enthusiasm about Anthropic and about OpenAI because they're new, they're sexy, they're doing interesting things.” — Ed Elson, Prof G Markets “Amazon built the house. Apple's going to move in and charge rent. And Alexa is a cash register pretending to be a butler.” — Scott Galloway, Prof G Markets “Everybody thinks that innovation is being first. It's not. The innovator almost always destroys shareholder value. Mud on your face, arrow on your back. It's the second mouse, and Apple is the ultimate second mouse. Apple wins by showing up late. It didn't invent the MP3, the smartphone, smartwatch, or wireless earbuds. It showed up three to five years late and took the entire profit pool.” — Scott Galloway, Prof G Markets “A statistical agency that revises its data is much better than one that doesn't. Just like a person who admits their mistakes is much better than one who doesn't. You might be tempted to say, well, the first print was high and the second print was low. So maybe the truth is in between. That's not right. The first print was based on a small sample. The second print includes all those people and also includes others.” — Justin Wolfers, Platypus Economics with Justin Wolfers “In 2022, when there were two open jobs for every available worker, you could have eaten a sandwich in your job interview. It probably wouldn't have made that much of a difference.” — Stacey Vanek Smith, Platypus Economics with Justin Wolfers “This AI debate is the debate of our time. I have never in my career gotten to say one economic parameter can make the difference between utopia and dystopia.” — Justin Wolfers, Platypus Economics with Justin Wolfers “The only thing you can buy with $101 million that you couldn't buy with $99 million is power.” — Justin Wolfers, Platypus Economics with Justin Wolfers “The human body does not need any of this stuff for the most part. We could all just be drinking water. But the beverage industry has figured out that if they invent new kinds of drinks, they can invent new reasons for us to not drink water and spend money on their beverages instead.” — Jeff Guo, Planet Money “If you took 100% of the net wealth of all the billionaires in the United States as a tax, a one-time tax, and took 100% of their net worth, it would fund one year of the federal government. All the billionaires' money combined is one year of federal government spending.” — David Friedberg, All-In with Chamath, Jason, Sacks & Friedberg “AI debt is crowding out Treasury, which is a crazy statement because nobody ever crowded out Treasury before, but now they are.” — Steve Eisman, Prof G Markets “It's actually a view, right? It's actually a trade. … These traders in the corporate, they don't call themselves traders because that sends compliance into a fit … So compliance goes ballistic. And they'll say, no, no, we're not trading. We're hedging.” — David Kang, Odd Lots “If cows had litters, this would be a whole different conversation, but they don't. Once you get into a hole like we are now, it's a multi-year process to get out of it.” — Derrell Peel, Freakonomics Radio “It's like a Kafka novel. It's just hard. … We got a great email. We got approved for a crosswalk on Clinton and Western, and it said it'll be built in a few years or more.” — Zach Lasry, Odd Lots “There's a ton of dentists. So dentists earn more income than all of the professional sports leagues combined.” — Eric Zwick, Planet Money “A lot of people said to me this summer, my God, 40 trillion, that's a lot of money for the national debt. Nobody ever said to me, oh my God, 39 trillion is a lot, or 37 trillion is a lot… I've had more questions about the national debt since it turned 40 than I did when it was 39.” — Howard Marks, Prof G Markets “I'll trade the shrink for the safety of the people every day of the week.” — Scott Glenn, Odd Lots “if you got to use ChatGPT to write, you probably have bigger functional problems that you need to deal with.” — Jim VandeHei, Prof G Markets “Manufacturing jobs is basically what rich people think poor people want.” — Justin Wolfers, Platypus Economics with Justin Wolfers “I think it's ridiculous that people aggregate billions of dollars in wealth. I don't think you're adding any value.” — Scott Galloway, Prof G Markets “I get a wage rise and I think I earned it. And then prices rise and I think those bastards stole my wage.” — Justin Wolfers, Platypus Economics with Justin Wolfers

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Justin Wolfers 7 Scott Galloway 3 Ben Thompson 2 Cal Newport 2 Jim VandeHei 1 Tracy Alloway 1 Steve Eisman 1 Ed Elson 1