1929 vs 2025: Andrew Ross Sorkin on Crashes, Bubbles & Lessons Learned
Lessons from 1929: Connecting Historical Financial Crises to Today's Markets
Uncover the hidden character-driven history behind the 1929 crash to understand today's speculative leverage, regulatory gaps, and the dual needs of innovation and stability.
Short Summary
- The 1920s saw the explosive, unregulated creation of consumer credit and massive 10:1 margin lending, fueling a market frenzy comparable to today's AI exuberance.
- Key historical regulatory shifts, like the separation of commercial and investment banks, were potentially driven more by industry lobbying than pure consumer protection.
- Speculation is confirmed as the necessary twin of innovation, but the fundamental challenge remains managing its excesses without stifling vital risk-taking capital.
- The discussion compares the government response post-1929 (New Deal) with the current debate over fiscal policy, emphasizing the trade-offs between government spending and market-driven uplift.
This discussion unpacks Andrew Ross Sorkin’s deep dive into 1929, examining the systemic risks, the human incentives that drive financial bubbles, and whether current market conditions signal a looming collapse or merely a dangerous, historic cycle fueled by disruptive technology like AI.
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Top Comments (10)
I love the irony here. The SPAC King discusses the roots of 1929.
guys, when uve called a guest to get their perspective on your questions, LET HIM FINISH SPEAKING! this is why JCALs moderation is so important to these discussions
Andrew can’t buy individual stocks but Congress can….
THE EYE OF SORKIN...
Andrew kept bringing up the golden AI question, why do David/Chamath always glass past it? Is it because they're so invested? It's a pressing question that the investors need to answer. The bet size relative to productivity increase is not quite the right ratio yet.
I love this new All In Interview segment! You guys are crushing it 1. Weekly Podcast 2. Annual Summit 3. All In Interviews Congratulations on Your Trifecta of Success!!
When I was in corporate strategy, I was in a position where I could not trade. I had the most accurate data on so many key technologies by vendor, models, shipments, more accurate than the vendors themselves (due to cross referencing). Every time I log in to the to the work computer, I get a huge warning about what I was not allowed to do.
Hari Seldon's Psychohistory in Isaac Azimov's Foundation Series is what Friedberg was trying to think of. I have read them twice. So good.
David Friedburg - The Foundation Series is the book series you were thinking about
INCREDIBLE conversation.. All In - best pod Period.
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Top Comments (10)
I love the irony here. The SPAC King discusses the roots of 1929.
guys, when uve called a guest to get their perspective on your questions, LET HIM FINISH SPEAKING! this is why JCALs moderation is so important to these discussions
Andrew can’t buy individual stocks but Congress can….
THE EYE OF SORKIN...
Andrew kept bringing up the golden AI question, why do David/Chamath always glass past it? Is it because they're so invested? It's a pressing question that the investors need to answer. The bet size relative to productivity increase is not quite the right ratio yet.
I love this new All In Interview segment! You guys are crushing it 1. Weekly Podcast 2. Annual Summit 3. All In Interviews Congratulations on Your Trifecta of Success!!
When I was in corporate strategy, I was in a position where I could not trade. I had the most accurate data on so many key technologies by vendor, models, shipments, more accurate than the vendors themselves (due to cross referencing). Every time I log in to the to the work computer, I get a huge warning about what I was not allowed to do.
Hari Seldon's Psychohistory in Isaac Azimov's Foundation Series is what Friedberg was trying to think of. I have read them twice. So good.
David Friedburg - The Foundation Series is the book series you were thinking about
INCREDIBLE conversation.. All In - best pod Period.