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The Human Risk Podcast

Rory Sutherland, Gerald Ashley & Paul Craven at Abbey Road Part One

Jul 14, 2023
46:16

Podcast summary created with Snipd AI

Quick takeaways

  • The success of trends cannot always be predicted as they rely on rare confluences of events and factors beyond rationalization.
  • Bubbles, whether in markets or viral phenomena, are fueled by a combination of money, marketability, accessibility, speculation, and chance, with positive outcomes such as innovation and ecosystem renewal.

Deep dives

The podcast episode recorded at Abbey Road Studios

In this special series of the Human Risk Podcast, the host invites three friends of the podcast – Rory Sutherland, Gerald Ashley, and Paul Craven – to join him in the world-famous Abbey Road Studios in London. Over the course of three episodes, they discuss various topics and share their insights. In the first episode, they explore the concept of what makes something go viral and the difference between trends that endure and those that burn out. They also discuss the importance of measuring sequential data rather than just aggregate data and the role of speculation and amateurs in creating bubbles. They touch upon the emergence of ideas and the value of raiding the fridge rather than following a predefined recipe. The conversation also delves into the dynamics of fairness, the ultimatum game, and the impact of perceived unfairness on decision-making. The episode concludes with an exploration of the value of effectuation and the notion that innovation often arises from unexpected connections and post-rationalization.

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