This week, Byrne Hobart and Erik Torenberg discuss the transformative impact of technological change on global trade, AI’s disruption of senior roles, the debate over AI-generated art, and market dynamics—particularly in live entertainment ticketing—offering a wide-ranging and thought-provoking discussion.

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Highlights from the Episode:

• US-China Trade Relations: There's an interesting role reversal where China is now championing free trade while the US has become more protectionist.
• China's Economic Challenges: Demographics are a crucial factor affecting China's economy - an aging population creates financial imbalances.
• AI's Impact on Work Hierarchy: Contrary to common assumptions, AI might replace senior rather than junior roles. While AI isn't a perfect substitute for mentorship, it provides "synthetic wisdom" without requiring equity stakes.
• StubHub and Pricing Dynamics: Entertainment businesses operate as "stacks of monopolies" (artists, venues) monetizing layers of perfect competition.
• AI-Generated Art ("Ghibli-fication"): The massive popularity of Studio Ghibli-style AI image generation demonstrated unexpected demand for AI services.

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LINKS:

Byrne’s writing: https://thediff.co

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X / TWITTER:

https://twitter.com/ByrneHobart (Byrne)

https://twitter.com/TurpentineMedia (Turpentine)