Freakonomics Radio

Ever wonder why your projects seem to drag on forever? This discussion dives into the planning fallacy, where optimism and overconfidence lead to underestimated timelines. Hear about the infamous Second Avenue Subway project, a humorous yet frustrating example of delays. Practical strategies to combat these biases include using buffer percentages and reference class forecasting. Discover how cognitive biases shape our project management skills and explore the tools created to tackle these pervasive issues.

Anne Wojcicki, Founder and CEO of 23andMe, shares insights on the transformative power of home DNA testing. She discusses the ethical challenges and privacy concerns surrounding personal genetics, especially as they relate to crime-solving. The conversation highlights how genetic testing can empower individuals but may also lead to unexpected revelations. Wojcicki emphasizes the need for diversity in genetic data for better health outcomes and delves into the complexities of motivating lifestyle changes linked to genetic risk awareness.

Mitch Daniels, former governor of Indiana and president of Purdue University, brings his pragmatic approach to tackling student loan debt. He discusses the alarming rise in college costs and its economic repercussions. Daniels highlights innovative solutions like Income Share Agreements, which shift financial risks from students to investors. The conversation also covers the challenges of maintaining educational quality while managing budgets, and explores how Purdue's strategies could serve as a model for reforming higher education financing.

Emily Oster, a Professor of Economics at Brown University and a leading figure in data-driven parenting, tackles the confusion modern parents face. She dives into controversial topics like breastfeeding, sleep training, and vaccines, urging parents to rely on evidence rather than myths. Oster critiques prevalent parenting guidelines, emphasizing informed decision-making across generations. She highlights the importance of open discussions on parenting choices and addresses the balance between expert advice and societal pressures.

Explore the captivating world of animal economies where monkeys display altruism and economic principles similar to humans. Journey through evolutionary links between primates that challenge our notions of uniqueness. Discover how animal behavior research and interactions, like those between monkeys and coral reef ecosystems, reveal complex economic exchanges. Funny anecdotes from field studies add a lighthearted touch to deep scientific insights. The episode provokes thought about parental choices regarding alcohol consumption and its implications.

James Dale, a plant scientist from Queensland University of Technology, delves into the fascinating world of bananas, once a luxury good, now a staple in American diets. He discusses the catastrophic threat posed by a virulent fungus that could decimate the Cavendish variety. Dale reveals groundbreaking research in genetic modification, including the use of CRISPR technology to create disease-resistant bananas. He also reflects on the historical journey of bananas and the complexities of public perception regarding GMOs, sparking a conversation on sustainability in agriculture.

Daniel Ek, the 23-year-old founder and CEO of Spotify, discusses how he transformed the music landscape by offering a legal streaming option that turned the industry around. He shares his early experiences with pirated music and the initial pushback from artists. The conversation highlights Spotify's journey in reshaping music consumption, addressing challenges like artist compensation, and its ongoing evolution amidst digital innovations. Ek also reflects on personal growth and the responsibility that comes with success, offering insights into Spotify’s future.

Join Stanford economist Rebecca Diamond and Harvard economist Ed Glazer as they unravel the complexities of rent control. They discuss how, while it seems to aid some renters, it creates higher overall rents by stifling new housing developments. The duo highlights the paradox seen in cities like Cambridge, where removing rent control led to improved housing quality. They also dissect the long-term consequences and economic arguments against such policies, making a strong case for rethinking housing solutions in an age of rising costs.

Andy Byford, the dynamic President of the New York City Transit Authority, dives into the complex world of the subway system and its historical challenges. He discusses innovative solutions to improve service reliability and the urgent need for funding. The conversation also touches on the intriguing influence of Napoleon on music and politics, the psychology of disgust and its impact on political views, plus the importance of urban transit innovations amidst New York's growing population. It's a compelling blend of transit woes and psychological insights!

Kenji Lopez-Alt, an award-winning food writer and owner of Worst Hall, shares his journey into the restaurant world, highlighting the unexpected challenges he faced. He discusses blending science with cooking while navigating the complexities of vegan hospitality and the chaos of opening night. Kenji reflects on the impact of customer feedback, especially from Yelp, and the delicate balance between personal beliefs and professional responsibilities. His adventures reveal that, even with expertise, the restaurant business can be wildly unpredictable.