38 episodes
"The Riff" with Byrne Hobart and Erik Torenberg Turpentine
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- Business
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4.7 • 15 Ratings
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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 Cycles
The Riff is a part of the Turpentine podcast network. Learn more: turpentine.co
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Resurgence of Prediction Markets, AI Adoption and Complex Financial Systems
This week, Byrne Hobart and Erik Torenberg discuss the resurgence of prediction markets, the balance of sophisticated vs. 'dumb' money, Biden's nomination odds and the impact of AI on software economics.
🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
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SPONSORS:
BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg
BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months
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RECOMMENDED PODCAST:
Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.
Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH
Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812
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TIMESTAMPS:
(00:00) Intro
(00:20) Is this the Polymarket election?
(08:55) Prediction markets
(11:07) Politics and prediction markets
(15:13) Sponsors: Babbel | Beehiiv
(17:48) CrowdStrike and the cost of software failures
(23:39) AI adoption and workplace dynamics
(27:29) Financial systems post-Great Financial Crisis
(35:02) USSR's computer network for economic planning
(40:01) Best performing stock of the last 100 years
(43:22) AI's impact on software and hardware economics
(48:46) Market cycles and political influence
(51:11) Dot-com crash, Y2K, and the housing bubble
(54:28) Stripe and the future of private companies
(59:12) Venture capital vs. Private equity returns
(01:00:49) Outro
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LINKS:
Byrne’s writing: https://thediff.co
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X / TWITTER:
https://twitter.com/eriktorenberg (Erik)
https://twitter.com/ByrneHobart (Byrne)
https://twitter.com/TurpentineMedia (Turpentine) -
2024 Election Updates, Partisanship on Wikipedia, and Amazon’s Media Business
On this week’s episode of The Riff, Byrne Hobart and Erik Torenberg discuss how the 2024 presidential election has changed, why Wikipedia’s partisanship problem is difficult to solve, and the strategy behind Amazon’s media business.
🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
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SPONSORS:
BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg
BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months
---
RECOMMENDED PODCAST:
Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.
Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH
Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812
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TIMESTAMPS:
(00:00) Intro
(00:20) Case for a boring campaign
(01:49) Impact of Assassination Attempts
(05:20) Sam Altman OpenAI analogy
(06:24) Symbolism in the presidency
(10:17) Role of determination in leadership
(15:16) Presidents role
(18:10) Sponsors: Babbel | Beehiiv
(20:45) Vice presidential pick
(25:16) Algorithmic collusion in real estate
(29:48) David Gerard on Wikipedia
(38:23) The 4chan of Crypto
(42:14) Stable growth stocks
(47:02) Amazon's media business strategy
(53:16) Mission-driven vs. Vanity businesses
(57:00) Benefits of liquidity in American markets
(58:31) Outro
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LINKS:
Byrne’s writing: https://thediff.co
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X / TWITTER:
https://twitter.com/eriktorenberg (Erik)
https://twitter.com/ByrneHobart (Byrne)
https://twitter.com/TurpentineMedia (Turpentine) -
Meritocracy, Modeling Globalization, and The Burden of Knowledge
This week, Byrne Hobart and Erik Torenberg dive deep into David Graeber's controversial concept of 'B******t Jobs,' exploring its validity and impact. They also discuss the future of labor and employment in the era of AI, the intricate dynamics of globalization, and the complexities of corporate governance.
🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
---
SPONSORS:
BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg
BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months
---
RECOMMENDED PODCAST:
Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.
Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH
Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812
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TIMESTAMPS:
(00:00) Intro
(00:20) David Graeber's “B******t Jobs”
(11:15) Meritocracy and word origins
(14:01) Convergent evolution
(16:04) Sponsors: Babbel | Beehiiv
(18:39) Public intellectuals and broad theories
(24:30) Automation and future of work
(31:55) Corporate control and voting rights
(38:46) Burden of knowledge
(45:38) Robert Gordons thesis
(52:41) Globalization and resource endowments
(01:00:54) Outro
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LINKS:
Byrne’s writing: https://thediff.co
---
X / TWITTER:
https://twitter.com/eriktorenberg (Erik)
https://twitter.com/ByrneHobart (Byrne)
https://twitter.com/TurpentineMedia (Turpentine) -
How to Be President, the Future of AI Celebrities, and Training Larger AI Models
On this week's episode of The Riff, Erik and Byrne discuss the evolution of monetary systems, the economics of AI investments, and how AI is impacting the job market for junior software developers.
🔥Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
---
SPONSORS:
BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg
BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months
---
RECOMMENDED PODCAST:
Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.
Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH
Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812
---
TIMESTAMPS:
(00:00) Intro
(00:21) Centralization and AI
(03:32) Challenges of centralized planning with AI
(04:20) Curtis Yarvin's influence on modern governance
(09:53) Comparing government and corporate structures
(14:22) Succession problem in governance
(17:56) Sponsors: Babbel | Beehiiv
(20:30) Tony Blair's insights on governance
(29:43) Impact of AI on fame
(33:16) Future of digital celebrities
(36:15) Evolution of monetary systems
(42:51) AI's economic impact and challenges
(51:12) Changing job market for developers
(59:04) Outro
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LINKS:
Byrne’s writing: https://thediff.co
---
X / TWITTER:
https://twitter.com/eriktorenberg (Erik)
https://twitter.com/ByrneHobart (Byrne)
https://twitter.com/TurpentineMedia (Turpentine) -
Chamath & Tinder, Threads API, and the Difficulties of Scaling AI Labs
This week, Byrne Hobart and Erik Torenberg discuss a lesser-known Chamath Palihapitiya story, the index rebalancing trade as a postmodern part of finance, AI labs, crypto, and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months.
Byrne Hobart is hiring an associate! Check out the JD here: https://www.thediff.co/jobs/
🔥 Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
---
SPONSORS:
BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg
BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months
---
RECOMMENDED PODCAST:
Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.
Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH
Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812
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TIMESTAMPS:
(00:00:00) About the Show
(00:00:20) Chamath, IAC, and Tinder
(00:16:20) Sponsors: Babbel | Beehiiv
(00:18:54) Chamath continued
(00:18:54) Twitter, Threads
(00:22:40) Twitter, Twitch
(00:24:12) Twitter, API
(00:28:37) Meme coins
(00:32:10) The postmodernity of index rebalancing trades
(00:35:37) S&P 500 inclusion and exclusion
(00:40:52) Crypto, AI, and the Zeitgeist
(00:42:14) Crypto
(00:46:55) AI Labs
(00:49:35) Why is it money intensive and talent intensive?
(00:53:59) What should people study in college?
(00:59:24) Byrne is hiring an associate!
(01:02:13) Outro
---
LINKS:
Byrne’s writing: https://thediff.co
---
X / TWITTER:
https://twitter.com/eriktorenberg (Erik)
https://twitter.com/ByrneHobart (Byrne)
https://twitter.com/TurpentineMedia (Turpentine) -
AI Therapy, 4chan, and Why Conferences Are Like Cities
This week, writer Byrne Hobart and investor Erik Torenberg discuss the economics of conferences and cities, rise of meme stocks, future of coding in the age of AI and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months.
🔥 Apply to join over 400 founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
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This show is produced by Turpentine: a network of podcasts, newsletters, and more, covering technology, business, and culture — all from the perspective of industry insiders and experts. We’re launching new shows every week, and we’re looking for industry-leading sponsors — if you think that might be you and your company, email us at erik@turpentine.co.
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SPONSORS:
BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg
BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months
---
RECOMMENDED PODCAST:
Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more.
Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH
Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812
---
TIMESTAMPS:
(00:00) Intro
(00:20) Economics of conferences vs Economics of cities
(04:09) Historical and modern city dynamics
(06:02) Controversies and discussions at conferences
(10:00) Rise of meme stocks and retail investors
(17:38) Sponsor: Babbel | Beehiiv
(20:10) High volatility in stocks
(23:10) Cultural influence of 4chan and Reddit
(28:33) Value capture in startups and capital structure
(31:30) Exploring self-funding and investment strategies
(37:14) Concept of cross-investing in people
(45:05) Value of learning to code
(50:15) Future of therapy in an AI-driven world
(57:56) Impact of AI on engineering jobs
(01:00:28) Comparing software and media
(01:03:50) Wrap
---
LINKS:
Byrne’s writing: https://thediff.co
---
X / TWITTER:
https://twitter.com/eriktorenberg (Erik)
https://twitter.com/ByrneHobart (Byrne)
https://twitter.com/TurpentineMedia (Turpentine)
---
For guest or sponsorship inquiries please contact Sam@turpentine.co
Customer Reviews
Great insights
Mr. Hobart is knowledgeable on an amazingly wide range of topics.
Great substance but audio quality is bad
I love the substance of this show. Byrne and Erik are so smart and interesting, and the topics they explore are unique. But I so wish they would improve the audio quality. It’s especially bad on Byrne’s end. When he talks fast, which is a lot, he tends to mumble and the volume on his voice goes lower. It’s hard to hear and understand what he’s saying unless you’re on complete noise cancellation.
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