
"The Riff" with Byrne Hobart and Erik Torenberg
Investor and writer of the popular newsletter The Diff, Byrne Hobart, and co-host Erik Torenberg discuss today’s major inflection points in technology, business, and markets – and help listeners build a diversified portfolio of trends and ideas for the future. Topics covered: Finance, Venture Capital, Tech, AI, Crypto, and Industry CyclesThe Riff is a part of the Turpentine podcast network. Learn more: turpentine.co
Latest episodes

26 snips
Oct 24, 2024 • 1h 4min
E51: Venture Scale, Y Combinator, and Financial Bubbles
Dive into the mechanics of financial bubbles and their complex impacts on markets. Explore how innovation drives collaboration and fuels groundbreaking advancements, with historical examples like Amazon. Imagine a future where cryptocurrency transforms daily transactions and cross-border commerce. Unpack the concept of venture scale and its importance for startups while discussing alternative financing options. Finally, examine how prediction markets could forecast electoral outcomes and the often-hidden influences of major traders in today's geopolitical landscape.

11 snips
Oct 17, 2024 • 1h 28min
E50: Freemium Apps, Restaurants, and Search with Patrick McKenzie
Explore the intriguing world of freemium apps and their monetization strategies, using gaming as a prime example. Delve into the evolving landscape of restaurant websites and how software accessibility has transformed the industry. Discover AI's role in gathering restaurant data and enhancing customer insights. Engage with the concept of humanized chatbots, pondering cognitive parallels with children. Finally, examine the waning quality of search engines like Google and how AI might reshape the future of information retrieval.

18 snips
Oct 10, 2024 • 1h
E49: AI Art, Young Founders, and Disrupting Higher Education
Dive into the evolving landscape of careers, where practical experience trumps traditional education. Explore the challenges young entrepreneurs face in a world dominated by established companies. Delve into the implications of currency and power, particularly the U.S. dollar's role in the global economy. Rethink higher education's approach to critical thinking and job readiness. Lastly, uncover Spotify's strategies for staying ahead in the competitive streaming market and the intricate issues surrounding AI art and property rights.

12 snips
Oct 3, 2024 • 57min
E48: Facebook vs MySpace, Why Peter Thiel is Wrong About Competition, and OpenAI Corporate Structure
The discussion kicks off with a deep dive into the historic rivalry between Facebook and MySpace, analyzing what led to Facebook's ascendancy. The hosts then tackle the evolving landscape of OpenAI, debating its transition from nonprofit to for-profit and the ethical ramifications. They also explore China's economic challenges, focusing on its bond market and the shift towards real estate. Lastly, they scrutinize corporate practices like stock buybacks, emphasizing the need for a fresh perspective on long-term value in the age of AI.

8 snips
Sep 27, 2024 • 1h 2min
E47: Cult Stocks, Tech Media, and Technological Revolutions
Byrne Hobart, a cult stock expert, joins commentator Erik Torenberg to dive into the world of stocks like Tesla and Palantir, highlighting their cult-like followings. They tackle the more significant impacts of AI versus globalization on jobs and discuss the unexpected turn in the energy transition. The duo also critiques Forbes' shift in content strategy, emphasizing the balance between profitability and brand integrity. They wrap up by championing unique personal perspectives in media, urging listeners to value genuine insights over faceless reporting.

14 snips
Sep 19, 2024 • 57min
E46: Degrowth, Private Equity, and the EU Tech Industry
Explore the challenges facing the EU's tech industry compared to the US, from sluggish startups to energy volatility. Delve into the effects of consumer confidence on financial stability and how macroeconomic events shape individual behavior. Discover the evolving landscape of private equity firms in response to regulatory shifts. Finally, unpack the complexities of online reputation management and the controversial tactics used to navigate misinformation. This discussion brings fresh insights into today's economic dynamics.

9 snips
Sep 12, 2024 • 57min
E45: Efficient Market Hypothesis, Missing Billionaires, and Digital Currencies
Delve into the nuances of market efficiency and how technology has reshaped investment strategies. Explore the high-stakes ventures of tech giants and the complexities of valuing their innovations. Discover the evolution of currency from dollars to digital gems and how psychology drives consumer behavior. Additionally, weigh the risks of concentration versus diversification in investment strategies and reconsider the evolving role of portfolio managers in today’s financial landscape.

12 snips
Sep 6, 2024 • 1h 2min
E44: Founder Mode, Uber’s Self-Driving Strategy, and Big Tech Skepticism
Delve into the heated debate on taxing unrealized capital gains and its impact on the wealthy. Explore Uber's ambitious plans for self-driving technology and the challenges of corporate governance. Discover the significance of 'founder mode' in fostering entrepreneurial spirit and diverse leadership. Learn about the dynamics of asset management, from luck versus skill, to the intricate balance of cash flow analysis. Tune in for insights on how changing economic narratives shape investment strategies and influence the tech landscape.

15 snips
Aug 29, 2024 • 1h 3min
E43: The Silicon Valley Canon, Smart Contracts, and the Yen Carry Trade
Dive into the fascinating world of the Silicon Valley canon and its impact on tech culture. Discover how shareholder activism is evolving away from traditional profit motives. Uncover the surprising longevity of companies that seem destined to fail. Explore grocery retail innovations and the implications of data usage in enhancing customer engagement. Plus, get insights into a complex financial deal linked to a high-profile figure, emphasizing the importance of understanding economic perspectives.

6 snips
Aug 22, 2024 • 1h 3min
E42: Navigating Tech Antitrust and the Future of AI
Balaji, a renowned thinker on decentralized networks and innovative governance, joins the discussion to tackle pressing issues in tech antitrust. He sheds light on the elusive balance of consumer welfare versus market power among giants like Google. The conversation navigates the complexities of AI trust, the evolution of content creation amidst misinformation, and the impacts of political discourse on social media dynamics. Balaji emphasizes the urgent need for transparency and accountability in journalism and competition, offering insights into the future of tech regulation.