"The Riff" with Byrne Hobart and Erik Torenberg E56: AI Agents are Coming; China’s Internet; Google Wants to Win
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Dec 12, 2024 The conversation dives into the economic implications of AI, highlighting its potential J-curve effect—initially deflationary but possibly inflationary later. It scrutinizes the limits of passive investing and suggests a cyclical future with active trading. The evolution of the gambling industry hints at new social norms and self-regulation. Google's struggle between innovation and bureaucracy shines a light on its corporate challenges. Finally, discussions around tariffs reveal their complex impact on the American workforce and consumer dynamics.
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AI Agents in Tech Support
- AI agents can be unpredictable, so real-world checks are crucial for deployment.
- Tech support offers a natural use case, with agents using applications and providing feedback.
Return on Equity in Efficient Markets
- Return on equity (ROE) is less useful when markets efficiently underwrite growth.
- High ROE may not reflect quality, but rather aggressive pursuit of good opportunities.
Thiel's Google Critique
- Peter Thiel criticized Google for holding cash, implying a lack of innovation.
- Byrne Hobart suggests Google might've been quietly pursuing projects like Waymo.