All financial products are fictions. What this means is that anybody can just create a new financial product, because it's fiction. And i just had stephen bagalader, who was kind of my rabbi there, and he was the head of corporate strategy. He's like, yeh, thit's a great idea. Let's do it like on the day. A fascinating thing. Also why occasionally you will see innovations come out of specific pockets of finance,. Because you can actually try these things out and test them. You got to go through sort of all sorts of politics to be able to do that.
Rohit Krishnan is a VC and essayist who writes the ‘Strange Loop Canon’ newsletter in which he tries to understand the ever increasing complexity of our world. You can follow Rohit on Twitter at https://twitter.com/krishnanrohit and subscribe to his newsletter at https://www.strangeloopcanon.com/ Show Notes:
- Douglas Hofstadter’s Strange Loop
- Memory as an unreliable narrator
- Are we seeing a decline in eccentricity?
- The Great Reshuffle
- We need more Thiel-style patrons
- Why do big companies suck at innovation?
- Importance of failure
- Reducing the cost of failure
- Universal Basic Income/Dividend
- Maximizing EV vs. Maximizing hit rate
- Are governments inefficient?
- Fragility of jobs
- World in 2050
Books Recommended:
- Gödel, Escher, Bach; by Douglas Hofstadter
- I Am a Strange Loop; by Douglas Hofstadter
- The Misbehavior of Markets; by Benoit Mandelbrot and Richard L. Hudson