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It's not 1929, but it might be - Andrew Ross Sorkin

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Jan 9, 2026

Guest

Andrew Ross Sorkin

In this engaging discussion, Andrew Ross Sorkin, an award-winning journalist and co-anchor of CNBC's Squawk Box, dives into stark contrasts between the 1929 market crash and today's financial landscape. He explores the impact of modern technology on panic management and debates the significance of debt in our current climate. Sorkin shares intriguing insights from his book 1929, including the role of the gold standard and the potential for cinematic storytelling. He also reflects on memorable interview experiences that showcase his curiosity and craft.

01:06:52

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insights

INSIGHT

Why 1929 Isn’t The Same Today

Andrew Ross Sorkin argues 1929 is not repeatable today due to modern regulation, FDIC, and better technology.
He emphasizes debt/leverage and weak safeguards then as the key differences driving 1929's severity.

insights

INSIGHT

Crash Versus Policy Dominoes

Sorkin stresses 1929 was a first domino, with policy mistakes and the gold standard worsening things.
He notes later policy choices, not the crash itself, created the prolonged Depression.

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ADVICE

Use The Crisis Playbook: Inject Liquidity

During crises, Sorkin highlights the playbook: act quickly and inject liquidity to stabilize markets.
He credits Ben Bernanke's Great Depression research for modern crisis responses.

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Is Today Really Like 1929?

05:47 • 2min

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Why 1929 Wasn’t Inevitable

07:49 • 2min

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Debt, Leverage, and Modern Risks

10:11 • 1min

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Technology, Information Lag, and Panic

11:33 • 4min

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Why Sorkin Wrote 1929

15:28 • 2min

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Unreleased Fed Board Minutes Unlock

17:14 • 2min

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Sourcing Diaries, Depositions, and Scenes

19:06 • 2min

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Hoover, 'Depression' Naming, and Jawboning

20:51 • 3min

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Gold Standard’s Role in the Collapse

23:39 • 1min

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Cinematic Storytelling and Adaptation Potential

24:44 • 4min

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When Did the Depression End?

28:23 • 2min

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Human Cost: Diaries and Everyday Lives

30:42 • 3min

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Pattern Matching: Lessons and Limits

33:15 • 4min

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1920s 'Democratization of Finance' Echoes Today

37:10 • 4min

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Is Today 1999 or 1929?

41:03 • 4min

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AI, Private Valuations, and Speculative Excess

45:17 • 5min

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SPACs, Tokenization, and Price Discovery

50:10 • 4min

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Sorkin’s Interview Craft and Curiosity

53:52 • 2min

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Memorable Interviews and Handling Difficult Moments

56:20 • 4min

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Live Journalism: Listening Over Aggression

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1929, Inside the Greatest Crash in History and How It Shattered a Nation

Inside the Greatest Crash in History and How It Shattered a Nation

Andrew Ross Sorkin

On episode 224 of The Compound and Friends, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Michael Batnick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Downtown Josh Brown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ are joined by Andrew Ross Sorkin to discuss: 1929 vs today, looking back at the SPAC mania, the art of the interview, Andrew's dream guest, and much more!

This episode is sponsored by VanEck. Learn more about the VanEck Semiconductor ETF: https://vaneck.com/SMHCompound

Grab a copy of Andrew's new book, 1929.

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