Smash Notes

Back to 1: Peter Thiel, with Peter Thiel.

Why Does Peter Thiel Expect the Next Depression Soon?

Back in the dot-com bubble days Peter Thiel though that physiologically he would not see another bubble for a lifetime because people wouldn't be able to repeat the rodeo, having gone through the trauma. Yet, we have gone through a number of bubbles in just the last two decades.

In 1990s the narrative was all about the new economy, and people lied about growth. In 2000s it was all about the great moderation, with a lie about volatility. Then in 2010 it was all about secular stagnation, and the lie was that interest rates were going to stay low forever.

Today we are just living in another bubble, having not fully realized what it is that we are lying to ourselves about.

Transcript

1: Peter Thiel ·

The Portal

More from this episode

  1. Are We on the Cusp of Another Great DepressionDespite the depression, 1930s saw a boom in innovation and growth, riding on the tailwind of scientific and and technological innovation from the 1920s.

People

More answers like this

More with Peter Thiel

More with Eric Weinstein

Related episodes

Plays from this note through the rest of the episode.

Weekly highlights

One letter a week.

The notes worth hearing, with the minute they were said.