Are We Screwed If AI Works? — With Andrew Ross Sorkin
Andrew Ross Sorkin is an anchor at CNBC, columnist at The New York Times, and author of 1929, a bestselling book about the worst market crash in history. Sorkin joins Big Technology Podcast to discuss whether AI achieving its potential could lead to a similar crash, either via a labor shock or the disruption of software. Stay tuned for the second half where we discuss private credit risks, prediction market gambling, and the SpaceX IPO. Hit play for a dynamic conversation about where AI could lead, and its potential economic benefits or consequences.
---
Enjoying Big Technology Podcast? Please rate us five stars ⭐⭐⭐⭐⭐ in your podcast app of choice.
Want a discount for Big Technology on Substack + Discord? Here’s 25% off for the first year: https://www.bigtechnology.com/subscribe?coupon=0843016b
Chapters:
0:00 Introduction
3:37 Could AI's Success Cause a Market Crash?
7:02 The Mass Unemployment Question
34:39 Private Credit Explained
39:09 Private Credit Alarm Bells
42:43 The AI Debt Risk
47:14 The Prison of Financial Mediocrity
54:38 Could We Have a 1929-Scale Crash?
56:11 Fed Independence
1:03:08 The SpaceX IPO
Learn more about your ad choices. Visit megaphone.fm/adchoices
The Insane Productivity of Andrew Ross Sorkin
Andrew Ross Sorkin does the work of about five people. He founded and writes the DealBook newsletter for the New York Times. He hosts Squawk Box on CNBC every morning at 6am. He runs the DealBook Summit, which has become the premier annual interview event across business, policy, and technology. He co-created the TV show Billions. He wrote the definitive account of the 2008 financial crisis, "Too Big to Fail", and now he's written "1929," a 600-page epic about the greatest crash in Wall Street history. So how does he actually do all of this?
Today we sit down with Andrew to answer exactly that question. We dive into his philosophy on interviewing, his start as a teenage freelancer at the New York Times, how he built DealBook from a daily column into a media empire, and his actual daily routine that somehow fits all of this into 24 hours!
Links:
Andrew’s new book 1929
DealBook
The DealBook Summit
Squawk Box
Sponsors:
Sierra: https://bit.ly/acquiredsierra
Andrew Ross Sorkin: How to make sense of today’s market
Is the stock market in an AI bubble? What happens if it bursts? To understand our current economic moment, it’s essential to understand history. That’s why journalist and author Andrew Ross Sorkin joined host Jeff Berman onstage at the Masters of Scale Summit in San Francisco in October. His new book is 1929: Inside the Greatest Crash in Wall Street History–and How It Shattered a Nation. Sorkin explains the lessons we can learn from this historical moment – and how they provide cautionary tales.
The book: https://www.penguinrandomhouse.com/books/665634/1929-by-andrew-ross-sorkin/
Subscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribe
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
1929 vs 2025: Andrew Ross Sorkin on Crashes, Bubbles & Lessons Learned
(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
(19:24) The characters: major players in the 1929 crash; what kind of bubble are we experiencing in 2025?
(26:21) Role of journalist vs market participant; characters of the 2025 market
(30:10) AI's potential 1929-like impact on unemployment
(35:16) Why socialism is flaring up now more than it did post-1929
(40:34) Does the US need a 2025 "New Deal" on cutting spending, tariff balancing act
(46:51) Film rights strategy
Buy Sorkin's new book:
https://www.amazon.com/1929-Inside-Greatest-History-Shattered/dp/0593296966
Follow Andrew Ross Sorkin:
https://x.com/andrewrsorkin
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
https://x.com/theallinpod
Follow on Instagram:
https://www.instagram.com/theallinpod
Follow on TikTok:
https://www.tiktok.com/@theallinpod
Follow on LinkedIn:
https://www.linkedin.com/company/allinpod
Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect
Referenced in the show:
https://www.amazon.com/1929-Inside-Greatest-History-Shattered/dp/0593296966
https://archive.org/details/sim_ladies-home-journal_1929-08_46_8/page/n9/mode/2up
Andrew Ross Sorkin on the Stock Market Crash That Shattered America
Almost everyone is talking about us possibly being in a bubble. Regardless of how AI investment ultimately pan out, there is an incredible amount of retail speculative mania in the air. So, how does this environment compare to past periods of exuberance? On this episode, we speak with Andrew Ross Sorkin, the editor of Dealbook, the co-host of CNBC's Squawk Box, and the author of the new book 1929: Inside the Greatest Crash in Wall Street History--and How It Shattered a Nation. Sorkin, who previously wrote Too Big to Fail (chronicling the Great Financial Crisis of 2008), went into the archives to discover just how in thrall the American public was to the market on the eve of the great crash. We discuss lessons from the time, similarities, and differences.
Read more:Companies Overpaying for AI Add to Bubble Risks, Survey ShowsWhy Circular AI Deals Among OpenAI, Nvidia, AMD Are Raising Eyebrows
Only http://Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots
See omnystudio.com/listener for privacy information.
Trump Rally or Bessent Put? Elon Back at Tesla, Google's Gemini Problem, China's Thorium Discovery
(0:00) The Besties intro Andrew Ross Sorkin
(2:04) Market bump: Trump rally or a Bessent put?
(18:04) Are tariffs damaging the American "brand"? Apple's investment in India
(38:18) Balance of power politics, Ukraine/Russia ceasefire negotiation halted over Crimea
(50:00) Alphabet earnings: Massive resiliency, Google's Gemini Problem
(1:05:40) Tesla jumps on Elon's return, pulling back from DOGE
(1:18:35) Science Corner: China's Thorium Breakthrough
Follow Andrew:
https://x.com/andrewrsorkin
Follow the besties:
https://x.com/chamath
https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
https://x.com/theallinpod
Follow on Instagram:
https://www.instagram.com/theallinpod
Follow on TikTok:
https://www.tiktok.com/@theallinpod
Follow on LinkedIn:
https://www.linkedin.com/company/allinpod
Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect
Referenced in the show:
https://www.google.com/finance/quote/.DJI:INDEXDJX?comparison=INDEXSP%3A.INX%2CINDEXNASDAQ%3A.IXIC&window=5D
https://x.com/nic__carter/status/1909066161464959070
https://www.nytimes.com/2025/04/16/business/china-rare-earths-us.html
https://x.com/TheTranscript_/status/1915116330534998440
https://www.ft.com/content/c2be45b8-cfad-4cbb-9a1a-bfd0626be372
https://truthsocial.com/@realDonaldTrump
https://www.nytimes.com/2025/04/22/world/europe/ukraine-cease-fire-talks.html
https://www.forbes.com/sites/kenrapoza/2015/03/20/one-year-after-russia-annexed-crimea-locals-prefer-moscow-to-kiev
https://x.com/EconomyApp/status/1915501252420784499
https://www.artificialintelligence-news.com/news/chinese-firms-cloud-loophole-access-us-ai-tech
https://polymarket.com/event/how-much-spending-will-elon-and-doge-cut-in-2025
https://doge.gov/savings
https://www.scmp.com/news/china/science/article/3300360/chinas-thorium-survey-finds-endless-energy-source-right-under-our-feet
https://www.spglobal.com/commodityinsights/es/market-insights/latest-news/energy-transition/020123-china-to-maintain-renewables-growth-pace-in-2023-despite-uncertainty
https://www.reuters.com/world/china/images-show-china-building-huge-fusion-research-facility-analysts-say-2025-01-28
State of Banking, Media, and AI — with Andrew Ross Sorkin
Andrew Ross Sorkin shares his thoughts on the second-order effects of the banking crisis, recent media events, and AI. We also learn how Andrew is balancing work and time with his family. Follow Andrew on Twitter, @andrewrsorkin.
Scott opens by discussing Vice’s bankruptcy, and what it means for buzzy news sites. Plus, he shares his thoughts on the writers' strike.
Algebra of Happiness: just listen.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
Andrew Ross Sorkin on Meme Stocks, Bitcoin, SPACs, and Elon Musk
Andrew Ross Sorkin is the co-anchor of Squawk Box on CNBC, founder and editor of Dealbook at the New York Times, and the author of Too Big To Fail. He joins Big Technology Podcast to discuss the wild state of the market, the rise of meme stocks, the promise and drawbacks of bitcoin, SPACs, Big Tech antitrust, Elon Musk, and when the party will come to an end. Tune in for a wide-ranging interview about the world's most pressing financial and tech issues.
Buy Andrew's book: https://amzn.to/3zFPTXp
The Michael Lewis article Andrew references: https://www.nytimes.com/2001/02/25/magazine/jonathan-lebed-s-extracurricular-activities.html?referringSource=articleShare
Learn more about your ad choices. Visit megaphone.fm/adchoices
Uber threatens to shutdown app over AB5, Airbnb's surprise IPO and a listener mail question about WFH with Andrew Ross Sorkin
Kara is joined by New York Times columnist, founder of Deal Book and CNBC Sqwuakbox Host Andrew Ross Sorkin to talk about Uber threatening to shut down their rideshare app in reaction to a new AB-5 ruling. They also discuss Airbnb's surprise IPO. In listener mail, we get a question about the future of working from home and how company cultures will change to the fit our new environment. In predictions, Andrew and Kara discuss the potential future cabinet of the Biden/Harris administration.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
Trump’s executive order on TikTok & WeChat, Friend of Pivot Jennifer Palmieri about women in politics, and guest host Andrew Ross Sorkin on a billionaire tax
Kara is joined by New York Times columnist, founder of Deal Book and CNBC Sqwuakbox Host Andrew Ross Sorkin to talk about about Trump's new executive orders to ban Chinese social media apps. They also discuss Bernie Sanders' proposed new tax legislation that would implement a one time 60-percent tax on billionaires who made money during the pandemic. Then we are joined by Friend of Pivot Jennifer Palmieri, author of the new book She Proclaims: Our Declaration of Independence from a Man's World, to discuss women in politics and Biden's expected VP pick.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
The Oscars' rebrand, Uber’s ‘yoga babble’ earnings call, and Friend of Pivot Andrew Ross Sorkin calls Instagram the 'Super App'
Kara and Scott talk about The Oscar's and how the award is being rebranded. They discuss Uber's most recent earnings call and whether or not they'll actually be profitable next year. Kara thinks that while the January jobs report showed employment is up, it is a poor marker of success because of wage stagnation. In Friends of Pivot, New York Times columnist and Squawk Box host Andrew Ross Sorkin calls in for a conversation about Instagram, e-commerce and news models of monetizing content.
Learn more about your ad choices. Visit podcastchoices.com/adchoices
