Podcast notes – Tyler Cowen on Lunar Society with Dwarkesh Patel – “Existence of sex is most pessimistic thing there is”

Guest: Tyler
Host: Dwarkesh

Went to India for 6th time, read 100s of books, but traveling there is a deeper and different kind of knowledge
Prefer traveling over reading

What is Conquest’s law (note to self)

Doesn’t see left v right (eg, left wing, leftist politics) as consistent and historical categories

Doesn’t buy that famous / successful people in the past were more abused or had harder childhoods – lots of selection bias, historical bias

Disappointed at how geographically clustered “talent” is – today it’s places like London, NYC, etc
These talent clusters have been such for a long time – seems like an enduring effect
Talent comes from many different areas, but always migrates to these clusters – how good are these clusters at producing talent, versus attracting them?
Problem for SF – may be a more temporary cluster, not much historical persistence

Why did Renaissance blossom in Florence and Venice but not Milan? Hard to understand

High status thing to do is feign humility

Well-dressed 20 year olds (eg, suit / business) are too conformist for what he’s looking for

Nootropics – don’t personally like it, but does seem to work for some people

Doesn’t drink coffee

Believes 15-17 year olds among most neglected talented people – high schools should invite real local experts to talk to them

The best moral instruction (in classrooms) are teachers being good people

“Context is that which is scarce”
Kids learn a lot of context in school – even if they can’t memorize as many explicit facts – it’s the residual, it’s what matters

“Super talented are best at spotting other super talented individuals”
There are exceptions, not a science, but there’s some art / intuition to it

Will sometimes chew out certain people, try to light a fire under them

Not an EA (effective altruism) person, but like libertarianism it will continue for quite a long time
Need more religions – in the meantime EA will do

Emergent Ventures – applicants are remarkably bi-modal distribution – pretty clear who makes it vs doesn’t make it
Believes a lot of foundations give out too many big grants, not enough small grants – small grants are under-rated

Believes mental stamina / energy can increase significantly (eg, 30%) – but some people are gifted super stamina

Lots of geniuses can’t get out of bed in the morning – they’re stuck and you should write them off

Top level athletic performance is very cognitively intense – this is under-rated – you have to be really smart to practice, lead a team, outsmart competition, “very g-loaded”

“Whoever is the top gardener [in the world] – I suspect I would be super impressed by”

Should be more bullish on immigrants from Africa – hard to get out, so it’s a positive sign

US not into demographic decline yet – maybe so in Japan

Doesn’t worry as much about woke ideology – “if that keeps you down…I’m not so impressed by you”
“Europe isn’t woke enough in a lot of eyes… chauvinist, old fashioned”
Europe is less egalitarian (than America) – Paris is the extreme by status; too few dimensions of status competition

YC more like scalable business school now – could be stale in good sense like Harvard is stale

Novelists can blossom much later, very discrete act – won’t really know until you do it – makes it harder to predict talent

Existential risk matters more than almost anyone thinks – but the things we do to eliminate them are more typical than most EA believers think – also over worry about certain types of risks, “not epistemically modest enough”, eg, AGI alignment

After a modern nuclear war – humanity permanently set back, medieval living standards, feudalism, more violence – no reason to assume you just bounce back, more problems will appear after – crop failures, climate change, disease

“Existence of sex is most pessimistic thing there is” – can’t just stand still or you will die / be defeated – thus sex as requirement to force genetic diversity

Growing up, read a lot of sports and chess biographies

Has blogged for 20 years – importance of constancy – like a public biography

If only had 5 years to live, would focus more on Emergent Ventures – institution building and talent spotting

Most talented people have unique philosophies / worldviews – eg, Peter Thiel (on Gerard, one heretic belief) – need unique way of looking at the world, protects you from other peoples’ idiocy

Doesn’t bet as much on single ideas unlike, eg, Jordan Peterson – rationale is he wants to stay as broadly relevant for as long as possible

Leading by example is number one way we teach – specifically referring to his students at GMU (?)

Bloggers – as people who write publicly on regular basis – have been around for centuries – will survive a long time
Substack encourages posts that are too long, too whiny, too focused on a few topics

The more that progress advances, the easier it is to destroy things, easier to destroy than create – to square his short-term optimism with his long-term pessimism

Fukuyama has changed views often – one of his views is that rest of history is how we’ll manipulate biology
“Are you long the market or short the market?” – one of Tyler’s favorite forcing questions

And this is what Stable Diffusion thinks is a “lunar society, podcast interview, two people”:

Podcast notes – Agustin Lebron (Jane Street trader) on Lunar Society

Guest: Agustin Lebron – author of book Laws of Trading

The more you trade the more you realize how hard it is to do well

Studied engineering in college
Former chip designer, online poker player
Went into finance – Jane Street

Recently started a crypto company – building protocol to improve crypto trading

Finance – jobs are more fungible, harder to explain why you work at a specific firm since most jobs are similar and primarily money-driven

If you want to be a trader, implicitly you’re saying you care most about money
But a lot of the job is having inherent curiosity about many things, and about enjoying game for its own sake

Jane Street would select against people with prior retail trading experience

Concept of domain is narrower than people understand it to be – Robinhood trading is even more different than you think of trading at a market maker, or a hedge fund

Takes 6-18 months to train a trader to be net-positive
Jane Street was mostly Socratic method – sit with senior trader and learn at desk
Now there’s more structured training, learning an iterative thinking process

Most common failure mode in tech hiring is hiring too much for skills, instead of for potential
One of best hiring arbitrages is to “go more junior” – hire younger and earlier in careers

Agustin wants to find smartest 0.1% of high school students around world – put them into bootcamps for 6 months, learn useful skills, provide high skill jobs to graduates
This could be a trillion dollar business

SBF @ FTX – Future Fund to scout for this kind of talent

Intelligence (“G” factor) strongly predicts outcomes across jobs, industries
Why brainteasers so common in tech hiring – proxy for IQ (even though explicit IQ testing for hiring is illegal in the US)
Great example – Wonderlic test for football

For job candidates:
One of most important things you can do is select your coworkers
During hiring, get good at evaluating your interviewers too

Sheepskin effect – last semester of college boosts earnings vastly more – because of signaling / certification

San Diego tech cos love to hire Intuit employees with 2-3 years experience, because Intuit does great training – but you don’t see the really good employees that Intuit retained

If Agustin was a regulator – would ban leveraged ETFs, further regulate all the volatility products

// Stopped ~45% of the way thru