Intro

Noah Smith and Erik Torenberg discuss the state of the economy, whether tech and the VC ecosystem are doing well or facing a 'rolling recession', and unpack assumptions about wealth in the United States. Make informed decision for high impact donations with GiveWell, which is offering Econ 102 listeners donation matching up to $100. To claim your match, go to givewell.org ➡️ pick “Podcast” enter Econ 102 at checkout.

We're hiring across the board at Turpentine and for Erik's personal team on other projects he's incubating. He's hiring a Chief of Staff, EA, Head of Special Projects, Investment Associate, and more. For a list of JDs, check out: eriktorenberg.com.

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Sponsors: GIVEWELL | DAFFY | NETSUITE

Have you ever wondered where your donation could have the most impact? GiveWell has now spent over 15 years researching charitable organizations and only directs funding to the HIGHEST-IMPACT opportunities they’ve found in global health and poverty alleviation. Make informed decisions about high-impact giving. If you’ve never donated through GiveWell before, you can have your donation matched up to $100 before the end of the year, or as long as matching funds last. To claim your match, go to givewell.org and pick “Podcast” and enter Econ 102 at checkout.

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Econ 102 is a part of the Turpentine podcast network. To learn more: www.turpentine.co

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X / TWITTER:

@noahpinion (Noah)

@eriktorenberg (Erik)

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TIMESTAMPS:

(00:00) Episode Preview

(01:05) The Rolling Recession?

(03:55) When Are Venture Capitalists gonna get rich again?

(06:15) Will rate cuts go down?

(08:15) Factory Model of Venture Capital

(10:20) Crypto's correlation to the markets

(14:15) Sector specific shocks screwing the economy

(16:50) Sponsors: GiveWell | Daffy

(20:00) The temperature metaphor in economics

(22:41) Regular Americans are getting richer

(25:02) How accurate are the measurement of inequality statistics in terms of reflecting true inequality?

(30:15) Why inequality might be good in economics

(36:55) What mechanisms led to inequality going down

(41:00) Skyrocketing prices and poor regulation of markets

(47:00) Piketty's arguments on inequality

This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.