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1929 vs 2025: Andrew Ross Sorkin on Crashes, Bubbles & Lessons Learned

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1929 vs 2025: Andrew Ross Sorkin on Crashes, Bubbles & Lessons Learned

All-In with Chamath, Jason, Sacks & Friedberg

Oct 16
All-In with Chamath, Jason, Sacks & Friedberg

All-In with Chamath, Jason, Sacks & Friedberg

Oct 16
OverviewShownoteHighlightsTranscriptChaptersPins

Shownote

(0:00) Chamath and Friedberg welcome Andrew Ross Sorkin to discuss his new book, "1929: Inside the Greatest Crash in Wall Street History--and How It Shattered a Nation" (0:38) Why he chose this time period (3:22) The setup: what led to the 1929 crash (1...

Highlights

In this episode, Chamath and Friedberg sit down with Andrew Ross Sorkin to delve into the historical parallels between the 1929 stock market crash and today’s financial landscape. The conversation goes beyond mere economic analysis, exploring the human behaviors, policy decisions, and technological shifts that shape market cycles and societal responses.
08:44
John Raskob was the Elon Musk of his era, promoting mass investment in stocks.
19:27
The Glass-Steagall Act originated from business conflicts, not purely political motives.
26:21
Regret over not investing in Bitcoin earlier despite knowing its potential
30:17
AI is a real economy phenomenon driving resource reallocation, not just media hype.
38:16
The 1950s American dream was built on post-WWII monopoly power, not pure capitalism.
45:43
The cost of lacking resource independence is measured in human lives and rarely accounted for.
46:51
I haven't sold the movie rights yet, but there are two main ways to approach it in today's streaming landscape.

Chapters

Chamath and Friedberg welcome Andrew Ross Sorkin to discuss his new book, "1929: Inside the Greatest Crash in Wall Street History--and How It Shattered a Nation"
00:00
Why he chose this time period
00:38
The setup: what led to the 1929 crash
03:22
The characters: major players in the 1929 crash; what kind of bubble are we experiencing in 2025?
19:24
Role of journalist vs market participant; characters of the 2025 market
26:21
AI's potential 1929-like impact on unemployment
30:10
Why socialism is flaring up now more than it did post-1929
35:16
Does the US need a 2025 "New Deal" on cutting spending, tariff balancing act
40:34
Film rights strategy
46:51

Transcript

Chamath Palihapitiya: Hey, Sorkin, I just went through the comments. The one question keeps coming up over again. Why the f*** are you writing this book? Jesus Christ, what a party pooper. Andrew Ross Sorkin: What a party pooper. I don't know, man. I don'...