"The Riff" with Byrne Hobart and Erik Torenberg cover image

E38: Resurgence of Prediction Markets, AI Adoption and Complex Financial Systems

"The Riff" with Byrne Hobart and Erik Torenberg

CHAPTER

Evolution of Financial Systems and Business Models

The chapter delves into the development of financial systems post the great financial crisis and how countries are adapting to mitigate crises, touching on the interconnection of finance with the economy. It contrasts the failures of Soviet Union's attempt to computerize economic planning with the unintended success of US building a computer network that optimized planning through algorithms. The discussion also covers Warren Buffet's insights on profitable business models, the impact of AI on software models, and the evolution of companies going public.

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