Uploaded January 2025 | Updated September 2026, 1 day ago
This week, Noah Smith and Erik Torenberg discuss Silicon Valley's cultural influence, Marc Andreessen's predictions, what comes after wokeness, tariffs on China, Reaganomics, the 'polycrisis,' the future of industrial policy, and political dynamics involving Donald Trump, Elon Musk, and Paul Krugman.
--
📰Be notified early when Turpentine drops new publication: turpentine.co/exclusiveaccess
--
SPONSORS:
GiveWell
GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us.
--
SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
--
FOLLOW ON X:
@noahpinion
@eriktorenberg
@turpentinemedia
--
LINKS:
Noahpinion: https://www.noahpinion.blog/
Marc Andreessen on Trump, the vibe shift, and what’s after wokeness: youtu.be/l8X8jecivWw?si=ZKfdrvEetz8sZ6Hi
The Wokeness series: https://www.noahpinion.blog/p/the-wokeness-series
Ready Player One: goodreads.com/book/show/9969571-ready-player-one
We Have Never Been Woke: amazon.com/Have-Never-Been-Woke-Contradictions/dp/0691232601
Musa al-Garbhi Substack: musaalgharbi.substack.com
Akira: imdb.com/title/tt0094625
The Big Chill: imdb.com/title/tt0085244
--
TIMESTAMPS:
(00:00) Intro
(00:20) Silicon Valley and tech scene insights
(01:23) Rise and Fall of wokeness
(04:42) Cultural shifts and predictions
(08:13) Historical parallels and social movements
(17:03) Sponsor: Givewell
(18:22) Rightist and anti-abortion attacks
(23:49) Impact of tariffs and economic policies
(29:49) Private sector investment and the CHIPS Act
(30:29) Government vs. Private sector efficiency
(31:43) Role of competition in government contracting
(33:03) Challenges in social services and infrastructure
(36:23) Polycrisis debate
(41:12) Austerity measures and fiscal control
(45:39) Industrial policy and manufacturing
(46:58) Trump vs. Elon: Conflicting visions
(57:28) Paul Krugman's legacy and keynesianism
(59:23) Wrap
This week, Noah Smith and Erik Torenberg discuss Silicon Valley's cultural influence, Marc Andreessen's predictions, what comes after wokeness, tariffs on China, Reaganomics, the 'polycrisis,' the future of industrial policy, and political dynamics involving Donald Trump, Elon Musk, and Paul Krugman.
--
📰Be notified early when Turpentine drops new publication: turpentine.co/exclusiveaccess
--
SPONSORS:
GiveWell
GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us.
--
SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
--
FOLLOW ON X:
@noahpinion
@eriktorenberg
@turpentinemedia
--
LINKS:
Noahpinion: https://www.noahpinion.blog/
Marc Andreessen on Trump, the vibe shift, and what’s after wokeness: youtu.be/l8X8jecivWw?si=ZKfdrvEetz8sZ6Hi
The Wokeness series: https://www.noahpinion.blog/p/the-wokeness-series
Ready Player One: goodreads.com/book/show/9969571-ready-player-one
We Have Never Been Woke: amazon.com/Have-Never-Been-Woke-Contradictions/dp/0691232601
Musa al-Garbhi Substack: musaalgharbi.substack.com
Akira: imdb.com/title/tt0094625
The Big Chill: imdb.com/title/tt0085244
--
TIMESTAMPS:
(00:00) Intro
(00:20) Silicon Valley and tech scene insights
(01:23) Rise and Fall of wokeness
(04:42) Cultural shifts and predictions
(08:13) Historical parallels and social movements
(17:03) Sponsor: Givewell
(18:22) Rightist and anti-abortion attacks
(23:49) Impact of tariffs and economic policies
(29:49) Private sector investment and the CHIPS Act
(30:29) Government vs. Private sector efficiency
(31:43) Role of competition in government contracting
(33:03) Challenges in social services and infrastructure
(36:23) Polycrisis debate
(41:12) Austerity measures and fiscal control
(45:39) Industrial policy and manufacturing
(46:58) Trump vs. Elon: Conflicting visions
(57:28) Paul Krugman's legacy and keynesianism
(59:23) Wrap










![Tech Maturity and What Lies Ahead
This week on ECON 102, Noah Smith and Erik Torenberg discuss the differentiation between technology and tech as an investment category, the future of AI, potential profitability of AI companies, and the challenges faced by VC investors in the AI space.
🔥 Apply to join over 400 Founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj
RECOMMENDED PODCAST:
🎙️ History 102 with WhatifAltHist
Every week, creator of WhatifAltHist Rudyard Lynch and Erik Torenberg cover a major topic in history in depth in under an hour. This season will cover classical Greece, early America, the Vikings, medieval Islam, ancient China, the fall of the Roman Empire, and more.
Subscribe on Spotify: https://open.spotify.com/show/36Kqo3BMMUBGTDo1IEYihm
Apple: https://podcasts.apple.com/us/podcast/history-102-with-whatifalthists-rudyard-lynch-and/id1730633913
YouTube: @History102-qg5oj
SPONSORS: NETSUITE | BABBEL | WORKOS
More than 37,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. If youre looking for an ERP platform, get a one-of-a-kind flexible financing program on NetSuite: netsuite.com/102
🌐 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://get.babbel.com/eg_podcast_flags_ame_usa-en?bsc=podcast-econ102&btp=default&u[…]oad&utm_medium=podcast&utm_source=econ102&utm_term=generic_v1
🛠️ Building an enterprise-ready SaaS app? WorkOS has got you covered with easy-to-integrate APIs for SAML, SCIM, and more. Join top startups like Vercel, Perplexity, Jasper & Webflow in powering your app with WorkOS. Enjoy a free tier for up to 1M users! Start now at https://bit.ly/WorkOS-TCR
SEND US YOUR Qs FOR NOAH TO ANSWER ON AIR: Econ102@Turpentine.co
LINKS:
Noahpinion: https://www.noahpinion.blog/
Some thoughts on the future of the tech industry: https://www.noahpinion.blog/p/some-thoughts-on-the-future-of-the
_
TIMESTAMPS:
(00:00) Intro
(00:23) State of technology: Optimism vs. realism
(07:18) Consumer social and the limits of innovation
(11:10) Role of AI in education and healthcare
(18:35) Sponsors: NetSuite
(19:14) Impact of incumbents on innovation
(24:02) Future of e-commerce and remote work
(30:26) Sponsor: WorkOS | Babbel
(32:52) Future of AI in venture capital
(36:11) Economic impacts of AI adoption
(40:50) Challenges in AI profitability
(43:31) Role of big tech in AI
(50:26) Political shifts in the tech industry
(01:03:08) Wrap Tech Maturity and What Lies Ahead](https://i.ytimg.com/vi/E015NcNjrd4/mqdefault.jpg)