"[Music] hi i'm jim o'shaughnessy and welcome to infinite loops sometimes we get caught up in what feel like infinite loops when trying to figure things out markets go up and down research is presented..."

"thanks for joining us now please enjoy this episode of infinite loops jim o'shaughnessy is chairman and co-chief investment officer of o'shaughnessy asset management where jamie catherwood is an assoc..."

"what does the world come to when they let the mix talk about what's gonna happen it's amazing once you figure out the potato situation and everyone's well fed you can focus on other things boom there ..."

"and a half ago and it was one of those pieces that i thought when i was writing it and when i hit send that it wasn't going to do very well because it seemed kind of obvious right it's one of those pi..."

"one like just kind of big misinterpretation of it i think a few people read it as like oh this is about getting a bunch of followers and like how you find followers on twitter and and that's not it at..."

"and so i'm not pan glossian about this i think that for the people like that sold my colleague his opportunity set just exploded upward and i think that some of our younger people in this country migh..."

"building those two things at the same time and you do it i don't think either uri does this in like some weird nefarious networking kind of way and i think that can go really bad just if you're being ..."

"than the one that people developed in the physical world so for example i believe if you are uncomfortable with non-linear thought you're going to really have a hard time because the new world as i se..."

"is to work with governments at some point when they have x percent of certain populations and say like all right cool what happens if we do ubi experiments through axi where we actually have this kind..."

"do we get proof with running thousands of experiments at the same time seeing what works and kind of continuing to adapt and so there has to be a period where there's people like me out there who are ..."

"i have the power so you touched on crypto being sort of the native currency native token in the great online game and i'm still a dummy on crypto i did an investment and it did ridiculously well i mea..."

"and it's scalable and it's fast and it's all of those things and so certainly there could be something like that i think the interesting thing thus far about crypto has been that it's essentially like..."

"that get people excited and what about in our little bubble this is pretty much what we talk about we're all super excited about what is coming i am what i would call a rational optimist which means a..."

"where they have a mortgage and student loans and all these things to pay off and they're like just trying to do their job and they're like what the hell is this thing i completely understand why you w..."

"because if you have the skills and the tools the leverage that this new digital world gives us is literally unprecedented we haven't ever seen it and i was actually talking to my seven-year-old grands..."

"but then there's also a we've had a hard time convincing people to take a vaccine that is going to save you from coven so if you even if you said do this thing and it will be fantastic for you financi..."

"so you get this if you understand history this is nothing new it feels new because there's so many of these subgroups and all the village idiots get to talk to each other online and so it seems like t..."

"have now i also kind of have a theory that is still in its nascent stages and i'm probably wrong but i think that social media also serves as a steam valve and by that i mean without social media wher..."

"back to the idea of a downside i think i was talking about tim irvin and i'm doing a live thing with him and this is going to be a big part of the conversation which is essentially we are creating alm..."

"it now so my best thought on it now is almost a addition to oddly an algorithm that ads follows that really disagree with your prevailing worldview and i don't like that though because that's a little..."

"in an effective manner that is like good for people i don't want to compel people to do anything i just think that's wrong and it goes against everything that i believe in freedom and as you're kind o..."

"little bit because it's something that people are familiar with obviously axis doing it a little bit in different parts of the world but i think a fascinating thing to me that i put in this last piece..."

"kind of seeds the idea that these are legitimate ways that people can show off what they believe in and that they have a certain status in a certain community i think that will certainly continue to g..."

"instagram it's like this weird in between phase where we're representing ourselves mostly digital we're like most people you know way more people digitally than you know in person at this point and if..."

"the whole idea of ready player one the book not the movie in that when oculus 5 comes out man my youngest daughter is a comedian and she was here recently and she's like dad i am the very thin tether ..."

"those things than it is now so i'm not weirded out by that at all i mean i think the challenge is that it becomes like so fun and so amusing yourself to death or the infinite chess right where there's..."

"there's a great cartoon from like the 1920s that showed airplanes flying around and the caption was well first it was like an illustration of when airplanes were first becoming kind of more common and..."

"but when there was was it the native americans standing on the shore and there were yeah i do know that story and they couldn't see the boats because they just didn't have the concept and they didn't ..."

"that could actually make people smarter i think that there's just too many people have this authoritarian mindset where they want to teach people what to think not how to think and i just think that t..."

"like even how do you train for medicine or something where people are cutting into people's bodies without somebody going through this path maybe there's testing along the way or something but like ar..."

"than we could ever do here so the only pushback i would give you there is that most systems are complex adaptive systems and in complex adaptive systems emergent behavior comes from the bottom not the..."

"let's assume we have a can opener i've never heard that one that's amazing and one of the things that i think is interesting that i want your opinion on my recurring guest alex danko has a very strong..."

"important that talent obviously wins like if you spend any time in startups the number one thing that everybody needs is engineers right now or designers or whatever else and if you're limiting yourse..."

"osam i wasn't able to go but jamie was telling me how much fun it was because i do think at the end of the day we are human beings we thrive on being with one another we also gain a tremendous amount ..."

"and physical kind of encounters because that's the only kind that we had but i do think there's a lot more room for kind of digital accidents and encounters too and it's so much more fun like that kin..."

"we have our weekly engineering stand up and now our exec team is talking to the company about our quarterly results like all this dumb that you have to do that's just been a part of work if that goes ..."

"of marketing campaigns before and so i just think there's a lot of those opportunities where a bunch of high leverage people can do a bunch of different things this goes back to the original place whe..."

"this whole idea of the people who want people back in the offices those are the weekends man those are the weekends because they're the face time people and that is dead that is just dead yes and i ha..."

" give me your most out there speculation that you think is going to happen that even when you tell your most switched on friends they look at you like come on man come on oh this is a really good one ..."

"combine with each other and so like that's the thing that makes it really really really difficult to understand is like what happens when you have all these technologies in 50 20 30 whatever years all..."

"we're not going to face a whole host of problems but we are putting in place in my opinion the tools to deal with them better than we ever have in the past so i'm very bullish listen man this has been..."

"to give me though oh no you got two man that's why we make it hard oh and i went with such a broad first one so it's hard to do anything else there i guess this is like kind of a similar track but i d..."