The "What is Money?" Show

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WiM017 - The Booth Series | Episode 7 | Mind, Power, and Risk

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May 14, 2021

01:39:53

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insights

INSIGHT

Entropy, Information, and AI

Information reduces entropy by collapsing uncertainty and creates a 'bubble' of knowledge we call civilization.
Computers process information unbiasedly and accelerate error correction faster than humans.

question_answer

ANECDOTE

AI Outperforms Doctors

My Apple Watch knows more about my health than my doctor due to consolidated and continuous personal data.
AI predicts health outcomes better by analyzing vast data that humans cannot grasp fully.

insights

INSIGHT

Inflation vs Free Market Money

Society built on inflation demands infinite job growth incompatible with accelerating technology.
Bitcoin's fixed supply aligns with free market money, balancing supply with the energy sacrificed for its production.

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How It Makit Collapses by Half

02:37 • 2min

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How to Make Sense of the Information in a Drug Trial

04:55 • 5min

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Is Bitcoin the Next Big Thing?

10:10 • 6min

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Interventionism Is a Global Error Correcting System

15:59 • 2min

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Bitcoin Is the S Thing to Inevitability

17:40 • 4min

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The Shape of Who Comes Into Bitcoin First Matters a Lot

21:18 • 2min

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The China Miracle Is Not a Miracle at Allm

22:56 • 2min

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Educators, I'd Like to Call to Arms for Educators

24:58 • 5min

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The New System Is Congruent With Human Innovation in Our Time

30:11 • 2min

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How to Deal With Perplexity

32:20 • 3min

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The Next Sideration Will Blow People's Minds

35:09 • 3min

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Creating a Platform Around Collecting Data

Is There an Error Correction Layer on the Wants?

50:08 • 3min

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The Importance of Thinking About What We're Doing

52:44 • 2min

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The Greatest Gift of Starting a Company Is the Action

55:08 • 2min

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I Can't Believe That's Not Happening Now

57:06 • 2min

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Is It Impossible to Keep That Fallacy in a Box?

58:52 • 5min

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Capitalism Is Not Capitalist Pole

01:03:25 • 2min

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Is the Government Trying to Target Inflation?

01:05:48 • 3min

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Is There a Creativity in the Market?

Is It Just the Best Game You Could Hope for as Clear and Transparent Rules?

01:16:22 • 2min

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Is Bikcoin a Call Option on Everything?

01:18:02 • 2min

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We Would Grow Faster Because We Don't Have an Overhang

01:20:31 • 2min

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Is the Gold Standard an Analogue of the Free Market?

01:22:12 • 2min

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What's Happening in China to Day?

01:24:13 • 3min

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Is There Any Way Out of Them?

Is There a Mass of Wealth Transfer to Bit Coin?

01:31:42 • 2min

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Is Gold an Analogue of the Free Market?

01:33:47 • 3min

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The Second Layer Is Coming, Is It?

01:36:55 • 3min

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Jeff Booth joins me for a multi-episode conversation covering the concepts laid out in his book "The Price of Tomorrow: Why Deflation is Key to an Abundant Future"

Be sure to check out NYDIG, one of the most important companies in Bitcoin: https://nydig.com/

GUEST
Jeff's Twitter: https://twitter.com/JeffBooth
Jeff's Book: https://www.amazon.com/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257405/ref=sr_1_2?keywords=the+price+of+tomorrow&qid=1574403883&sr=8-2

PODCAST
Podcast Website: https://whatismoneypodcast.com/
Apple Podcast: https://podcasts.apple.com/us/podcast/the-what-is-money-show/id1541404400
Spotify: https://open.spotify.com/show/25LPvm8EewBGyfQQ1abIsE?si=wgVuY16XR0io4NLNo0A11A&nd=1
RSS Feed: https://feeds.simplecast.com/MLdpYXYI

OUTLINE
00:00:00 “What is Money?” Intro
00:00:05 NYDIG
00:01:22 Relativity of Information and Entropy
00:05:35 AI in Healthcare
00:09:22 Inflation Suppresses Entrepreneurship
00:11:42 The Free Market: A Global Error-Correcting System
00:17:41 Does Bitcoin Need Public Buy-In?
00:22:30 Belief Systems and Human Organization
00:25:00 Filtering Ideas: Bitcoin and Climate Change
00:32:59 Machines are Learning Exponentially Faster
00:36:59 The Simulation Hypothesis & Superintelligence
00:39:00 Data Mining and AI
00:42:50 Geopolitical Power & General AI
00:45:24 “What Do you Want and Why?”
00:51:46 Egotism and Self-Deception
00:53:37 Entrepreneurship: Living on the Edge
00:57:19 “Go Where the Truth Is”
01:00:01 Advantage of the Beginner’s Mind
01:03:24 Distorting Creative Destruction
01:08:55 Fiat Currency Induces Systemic Fragility
01:12:15 Bitcoin: The Ultimate Asymmetric Bet
01:17:55 A Call Option on Everything
01:22:46 Interventionism Interrupts Error Correction
01:29:19 Debt Super-cycles End Badly
01:31:41 The Tail Risk of Social Unrest
01:34:12 Bitcoin Error Corrects Gold
01:36:59 Debt and Equity, Space and Time
01:39:45 End

SOCIAL
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LinkedIn: https://www.linkedin.com/in/breedlove22/
Instagram: https://www.instagram.com/breedlove_22/
Medium: https://breedlove22.medium.com/
All My Current Work: https://linktr.ee/breedlove22

CONTRIBUTE
Bitcoin: 3D1gfxKZKMtfWaD1bkwiR6JsDzu6e9bZQ7
Patreon: https://www.patreon.com/user?u=32843101&fan_landing=true

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