Intelligence Squared Trump, Markets and The Greatest Crash in U.S. History, with Andrew Ross Sorkin (Part Two)
Dec 3, 2025
Join Andrew Ross Sorkin, a New York Times columnist and CNBC presenter, as he delves into the parallels between the 1929 crash and today's market. He discusses the dangers of inflated AI investments and the long-term value of infrastructure compared to tech manias. Sorkin draws insightful comparisons between historical figures and today's leaders, explores potential political fallout from a market crash, and warns against the risks of private equity valuations. Plus, he reflects on why nostalgia for the gold standard could lead to disaster.
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Herding Around One Technology
- Tech investors often all bet on the same dominant architecture, risking collective losses if a better approach emerges.
- Andrew Ross Sorkin compares today's AI mania to past tech manias like Internet and Betamax vs VHS shifts.
Winston Churchill’s 1929 Stock Speculation
- Winston Churchill toured the U.S. in 1929 to give paid lectures and got caught up speculating in stocks.
Limited Alternatives To The Dollar
- A rapid loss of faith in central banks or the dollar could trigger a crisis, but there are limited safe havens to absorb capital quickly.