Here are the timestamps. Please check out our sponsors to support this podcast. 0:00 - Introduction & sponsor mentions: - Audible: audible.com/lex to get $9.95 a month for 6 months - Tryolabs: tryolabs.com/lex - Blinkist: blinkist.com/lex and use code LEX to get 25% off premium - Athletic Greens: athleticgreens.com/lex and use code LEX to get 1 month of fish oil 2:28 - WallStreetBets and GameStop saga 16:41 - Evil shorting and chill shorting 18:47 - Hedge funds 24:20 - Vlad 31:16 - Numerai 58:32 - Futre of AI in stock trading 1:04:11 - Numerai data 1:07:53 - Is stock trading gambling or investing? 1:11:48 - What is money? 1:15:05 - Cryptocurrency 1:18:22 - Dogecoin 1:22:52 - Advice for startups 1:38:43 - Book recommendations 1:40:45 - Advice for young people 1:44:46 - Meaning of life

@darkman4747

3 жыл бұрын

Noice

@live2ride18

3 жыл бұрын

Lex you need “LFClips” Just a thought my friend. Thank you for the content.

@legitenoughtoquit

3 жыл бұрын

ty!

@StarLord1996

3 жыл бұрын

Lex, if you see this, you should get prof. David Malan from Harvard University on the podcast!

@ValtDewller

3 жыл бұрын

1 mil here we go

Lex is quickly becoming a legendary podcaster.

@SamHarrisonMusic

3 жыл бұрын

Now Rogan's sold out to Spotify, is Lex the King of podcast? Plot Twist! (America would become super chill)

@stresmaldonado

3 жыл бұрын

Best in the game when its all said and done. Hes low-key taking over all my Rogan airtime (since he moved over to Spotify)

@Boardermelodies

3 жыл бұрын

I think he's expanding knowledge to the laymen, reminding people that love is a universal term and that cooperation and competition need not be enemies. Low key he's leading us forward one conversation at a time.

@f4ptr989

3 жыл бұрын

Favorite podcast after JRE.

@oraclesarchitect8720

3 жыл бұрын

Hes like the captain underpants story of joe roganeers

Lex, please never stop this podcast. It is my all time favorite.

@jemadamson2715

3 жыл бұрын

Im gonna be selfish and completely agree. Lex is now burdened to do this podcast for eternity lol

@TimsEnthusiastGarage

3 жыл бұрын

And please don’t move it off youtube !

Lex Fridman podcast bingo: - “Emergent behavior” - “Love” - “Philosophically speaking”

@mpho1

3 жыл бұрын

"first principles thinking"

@spinLOL533

2 жыл бұрын

"i know this is a really dumb question"

You should invite Nassim Nicholas Taleb to your Podcast. Would definitely make for one hell of a conversation !

@conornoble6205

3 жыл бұрын

Yes!!

@mlaprisephysique

3 жыл бұрын

Disagree. It would be a terrible “conversation”. See ... Taleb don’t have any conversation... he just talks.

@anon4153

3 жыл бұрын

Or Naval R.

@mlaprisephysique

3 жыл бұрын

@chip thomas haha it’s kinda true. Totally agree. Good point.

@thegreenknight7933

3 жыл бұрын

Absolutely!

Lex moving the hedgehog into the frame at the beginning lol

@dbcoco

3 жыл бұрын

this shows me that there is such a lovely child still in him.

@samuelclark366

3 жыл бұрын

Maybe hedgehog is joke on "hedgefunds"

@AngryOscillator

3 жыл бұрын

❤️

@msieumolivaud1174

3 жыл бұрын

Is it just me or the hedgehog actually looks really pissed?

@C_CREATURE_

3 жыл бұрын

adorable :3

Lex! I'm here to remind you stop reading comments 🤣!!!

Lex... ever since Joe Rogan passed away, I've found you to be of great comfort. I hear Joe's voice from time to time, but you've become my main bacon.

@YaduNandan

3 жыл бұрын

Yeah, lex sure is tasty. Sad to hear about Joe passing away though. Rip

@whomstd

3 жыл бұрын

Man, saddened to hear about Joe. RIP in pieces

@kingenidjingeln

3 жыл бұрын

bs

@EmileAI

3 жыл бұрын

@@kingenidjingeln it's a meme

@asm_deuz

3 жыл бұрын

thanks spotify..

I study at the University of Cape Town, and it's really cool to see someone who studied where I study be this interesting on my favourite podcast.

@easyridermodularstudiosinc726

3 жыл бұрын

Capetown is #awsome

This is one of my favorite conversations you've had, and I find myself loving them all. Great guest/topic and great questions!

Lex, thank you for letting me enjoy some intelligent conversation. It’s becoming a rare commodity these days in most circles. I really enjoy your show 👍🏼

This podcast and marcus aurelius is one of the few things keeping me going

@Big_Red_Dork

3 жыл бұрын

The idea behind this quote keeps me sane at work everyday 😅 "When you wake up in the morning, tell yourself: The people I deal with today will be meddling, ungrateful, arrogant, dishonest, jealous, and surly. They are like this because they can’t tell good from evil.[...]And so none of them can hurt me. No one can implicate me with ugliness"

@zedwards

3 жыл бұрын

@@vaclavcervinka65 Dude is on Tic Toc. Killer.

@mediocrejokre

3 жыл бұрын

Sam Harris, Jordan Peterson, Alan Watts and Ram Dass are good too if you're looking for something new

@SevenRiderAirForce

3 жыл бұрын

This is the most silicon valley comment I think I've ever seen.

@sunnybrar3567

3 жыл бұрын

Check out Michael Sugrue lecture on Marcus Aurelius, guy is a legend

Hey Lex, Just wanted to say that your podcasts are amazing and have totally changed my way of thinking and my perspective towards todays world. Keep them coming.

Lex, thanks for all your podcasts. I try to catch you every day. Always interesting!

This was easily one of the best conversations I’ve heard

"It's my favorite story ever!" *cuts to hedgehog adjustment*

Always proud to see a Saffer making it big on the world stage. Our country needs inspiration again, and this is how it's done.

@PaperKhaos

3 жыл бұрын

It's kinda depressing that he had to leave to become successful though. Not sure thats how inspiration is supposed to work lol

Very much enjoy the conversation in every podcast you've ever done and continue to learn from you and your guests. Thank you for changing my life in many ways.

Have to sleep now, but will be listenning to this with my Coffee in the morning, sounds super interesting Lex, please keep doing what you're doing! ;-)

I've started to enjoy this podcast a lil bit more than JRE.🤷🏼‍♂️ Thank you 😊

@haraldtopfer5732

3 жыл бұрын

In my humble opinion, Joe lost touch with the ground a while back. It's a gradual process. What he has still going for him is his reputation and his reach. Empires come and go.

@phnix6242

3 жыл бұрын

@@haraldtopfer5732 ...in a rich mans world. He didnt even know Elon's Rockets are landing after they gone up....

@impotenceaura

3 жыл бұрын

I still like JRE but only when he has guests that are in comedy or fighting. Lex is a way better conversationalist with intellectuals or businessmen.

I think the super bowl is today. A bunch of decorations in the grocery store about it. I'm watching Lex. For all I know the game is going on now. Who cares? Lex is better.

@kinvert

3 жыл бұрын

@@blunty6feetunder Maybe it was super plate I don't remember.

@Recycled

3 жыл бұрын

Superb Owl 🦉

@faiz3711

3 жыл бұрын

You mentioning it makes it look like you still do care about it maybe little 😜

This sort of crowd sourced knowledge helped me modify a 1999 Honda Civic Si into a high-dollar exotic sports car killer in the early 00s. I was a member of an online forum called "Club SI" composed mostly of young street racers back then. The forum was a pure meritocracy - what peer-reviewed academic journals WISH they could be. If anyone posted BS or spam, they were quickly debunked and moderated off the board by the crowd. Long story short, after a couple of years of tinkering, I had built a supercharged 240hp front wheel drive Civic SI with a tiny 1.6 liter 4 cylinder engine that rode on $4000 shocks, R-Compound tires, suspension modifications and weight savings that made her an absolute terror at the track. No stock sports car in the world could beat her at autocross, and only heavily modified Corvettes, (and Miatas, lol) driven by SCCA national autocross champions were faster around the Autocross track at California Speedway in Fontana - and I have the official race results to prove it. That car was so fast at both a Porsche Club of America event at El Toro Air Force Base and an Acura NSX Autocross at Hollywood park that I was banned from future events by BOTH clubs. The point is, there's no way I could have built that little Honda Civic to perform at such a high level without a decentralized, passionate online community as a source of knowledge. That was 20 years ago, so yea - I have no doubt Reddit and the Wall Street Bets sub are terrorizing Wall Street the way I used to terrorize Porsche owners in my little Honda Civic. A lot of hedge fund managers drive Porches, hahahaha! Power to the people! =)

@hedgefund1844

6 ай бұрын

sickening

Nice ending quote, Thanks. I'll keep my eyes on the playing field.

I really enjoy listening to your Podcasts, the diversity of guests you have on is incredible! Keep it up!

This is basically my favourite podcast now

can’t get enough of these

Lex, you still surprise me with the quality of these conversations.

Lex, I'm so glad you talked about Numerai! Numerai is extremely interesting, and as far as crowdsourced hedgefund, Numerai is the model to go. Thank you

Usually I fall at sleep to podcasts. This time I could not:) There was a lot of interesting topics in this one👍👍👍

This was AWESOME my favourite podcast I have listened to!

Good interview! Greetings from Paraguay

"If you don't know what Reddit is..." you're probably not on KZread watching Lex Fridman podcasts.

@UserName-ii1ce

3 жыл бұрын

I saw a comment thread with a 70 year old, a 60 year old, and two 50 year olds

First time I’ve listened to Lex and it was seriously one of the most fascinating interviews I’ve heard in a long time. Lex is an amazing interviewer and I’m hooked.

Thanks for all you do, Lex.

Thanks for another good interview with good questions.

It's hard to believe it took this long for David Deutsch to come up in an interview. He's perfectly made for a six-hour Lexchat.

Awesome interview, thank you Lex

this makes me want to learn coding, lex as always man good episode

@philsburydoboy

3 жыл бұрын

Go for it. Just do 20 minutes a day and see where you wind up.

And another great podcast Lex!! Pls keep up the great work mate!!

Thank you, Lex!

Great podcast!

Lex started listening to you at the start of the pandemic. You have projected yourself as not only an intellect but also an individual who is not in love with himself. Your honesty on the podcasts is refreshing. Thank you for exposing the breadth of your spirit.

@Lex Fridman, please provide a list of the book recommended, thank you

They've covered so much practical and philosophical aspects of the relationship between crowdsourced knowledge, group behaviour, AI, crypto and the stock market (backbone of capitalism) in the first half of the podcast, it's like going through a crash course of human civilization in the information age.

As always lex bringing that 🔥🔥 keep it up

Amazing podcasts

16:10 a few lessons from optimization theory for capturing value: 1. open-ended optimization - when your objective is to discover novelty (no objective) 2. population-based optimization - when your objective is hard to describe 3. gradient-based optimization - when your objective is differentiable you can have confidence in "discovering the next thing" by placing your confidence in optimization theory if you don't immediately have sufficient evidence

Lex, you are the best, please keep doing what you do

Cheers Lex

The few genuine people who make their livings short selling are going after fraudulent companies. Not wounded companies.

@experiencejk

3 жыл бұрын

Yes Robin Hood should be shorted...

@LevelofClarity

3 жыл бұрын

This point is totally lost in most of these conversations. Those of us who operate within public markets know this - Everyone else does not.

@valireklaam

3 жыл бұрын

shortselling - its all a scam basically - if you find that a company is fraudulent - you are supposed to inform the police immediately and not make bets

@LevelofClarity

3 жыл бұрын

@@valireklaam If you look at the history of short selling, you will see that the authorities almost never do anything when people report that publicly traded companies are involved in fraud. Because of this, there have been short sellers that have done great good for public markets by uncovering fraud that would have gone on for many years if it wasn’t for them. They are basically investigative journalists that put their money where their mouth is.

Your podcast, makes my life better.

Hi, Lex! Did you forget to ask Richard about the books' reading this time? It is quite an important part of the discussion, I always paying attention to:) Best regards!

"I think in the end, freedom wins" That's my epitaph

Yes.

Is there a machine learning contest for FDs only?

Ah this will be good, mister numer.ai ! thanks brother, and thanks for mate who linked me ;)

Yo Lex, I just watched the Vitalik and Jack episodes over the weekend... Thanks for more crypto binge material!

Excellent interview. Praying that you find the meaning of life and the Truth 🙏🏻

Glad to know about Richard. It felt like listening to my mental dopperganger. I subscribed to his website immediately. I wish I could be surrounded by like-minded individuals like him.

Very exciting interview. Thank you. My amateur comments: 1. Super fun reads on corning the market and short squeezes: “Confessions of a Stock Operator” by Lefevre, and “Business Adventures” by Brooks: Chapter titled “The Last Great Corner”-about how the Wall Street crowd got the stock symbol wrong and then shorted the wrong stock (!) and how the target company founder fought back. 2. If someone can beat the market why don’t they end up owning the market, and on the other extreme, if the market is efficient then how does anyone make any money? 3. A complex system like the weather does not change (much) because of our understanding of it; a complex system like the stock market does change as we use our understanding to buy and sell stock. Why does an initial advantage disappear and never reappear? 4. My simplistic investing method shared: a) know your own emotional self before investing-are you a gambler, a collector, risk adverse, saver, etc.; b) keep costs as low as possible (trading, funds, and taxes); and c) if you make money on a trade move your profit to a long term investment such as Berkshire or a low cost index fund-and never trade those funds. Good luck! Thank you. William L. Ramseyer

this podcast was pretty good.

has lex done any weather pattern modeling interviews?

If you could get Charles Hoskinson (Founder of Cardano and brilliant mind) on the podcast that would be an incredible discussion.

Its always good to make up a nice story for your venture to get more money

Good job :)

The symbolism of the stuffed animal on Lex's desk is intriguing 🤔 ...is that a hedgehog? 🦔💘

Anyone who actually trades for a living can see this wasn't 'just' /wsb. There is clearly a very deep pocketed group who have perfected an algo that ramps stocks unnaturally and causes these situations. Originally it was airlines and cruise lines, then OSTK, then JKS, then TSLA. NIO did it too. It's a 11-13 day ramp. I encourage people to dig deeper. /wsb isn't trading 250k shares per minute at 7am EST pre market.

@IronCandyNotes

3 жыл бұрын

/wsb?

@IronCandyNotes

3 жыл бұрын

@@Restrider Oh okay makes sense ;D

@never3b99

3 жыл бұрын

Just say you know nothing about markets man, TSLA was not run up by a group of people, its literally the best company in the world and people are investing in the future

@owenwilliams1324

3 жыл бұрын

@@never3b99 The move on the daily in TSLA from 8/11 to 8/31 was the same algo that did GME, and the symbols I mentioned above

@mountainp800

3 жыл бұрын

you might be onto something

Hey Lex (Dr. Fridman), First and foremost thank you for continuing with the podcast despite all thats on your plate, I think i can speak for the collective when I say it has been a tremendous asset to your fellow apes (I am slightly more smooth brained than your wonderful-guest and of course yourself). I was wondering if you could make a sort of split interview where you interview yourself using the same range of questions you approach your guests with? but respond to the questions as if they were asked by someone else.( really play into the duality) I think this will help me(us) understand how you became you. What 'colours' where available to you from birth (genetics, upbringing, surrounding environment) and which 'colours' did you have to fight/work to see for all their glory. I love the painting you're making...my greatest qualm is that I didn't get to see the canvas begin to morph into where it is now. SUMMARY FOR MODERATE SMOOTH BRAINED PEERS: I cant really explain why (smooth brain, look above) but this "interview" with yourself may merge our individual journey with your own journey of understanding humanity, both in its heights of glory and in its greatest depths of despair. REALLY SHORT SUMMARY FOR MY SUPER DUPER SMOOTH BRAINED HOMIES: Toss an extra seat in the back for me...Im coming on this journey (NO MATTER WHAT) , it would make my trip more comfy ...If you wont toss the seat in Im gonna strap on some rollerblades and hold on to your bummer.

@1:42:00 Lex's perspective on that hit too close to home :D What he's describing as something too avoid is my ideal of a life. I'm 100% on Richard Craib's side.

I've been watching some courses on the stock market. One thing I'm still not clear on is how quickly I can buy, and then resell shares? I know it has to go through the clearing house and a bit about that system, so how do I take advantage of a rapid spike, or dip, in share prices?

@pimpstaff48

3 жыл бұрын

You can buy and sell in real time. The trades take 2 days to settle so all it means is that you'd have to wait 2 days if you wanted to withdraw cash from your account. Otherwise you don't have to wait to reinvest your funds.

@ray32245mv

3 жыл бұрын

@@pimpstaff48 thank you.

@DanielPaysTheMortgage

3 жыл бұрын

@@ray32245mv if you’re on a margin account they don take 2 days to settle

@ray32245mv

3 жыл бұрын

@@mannykhoshbin6895 thank you for this info man

I met a Numerai scientist at an ICLR after party a few years back. One of my colleagues couldn't stop laughing at the idea of essentially monetizing (what seems like) grad student descent. It's a brilliant idea though, and their execution + philosophy is solid. I do believe there are limitations to staking as a proxy metric for confidence. It assumes rationality in the users / competitors. The reason wallstreetbets is dangerous is because they are not rational in the market. Some redditors could disrupt Numerai's hedge fund by simply staking random / bad predictions (eg; loose money on purpose) and poisoning the ensemble model that pilots the fund for enough eras to bankrupt it. The WSB $GME event proved how far people will go to financially suicide bomb a target for reddit flair and lols. I think there is legitimate concern that identifying and exploiting rationality assumptions for quick profits (or for self promotion --which can be monetized to profit) will become a real trend.

Спасибо👌🏻

THANK YOU

This guys company video is crazy! It says ‘the world needs exactly one hedge fund’ . Ayyyy

What an awesome guy!!

So good 🙏

Wow, no black curtain background behind Lex. That's a historic podcast! :D

Hey Lex, you rock. An interesting guest for our future energy needs, Kirk Sorensen to talk about Liquid Fluoride Thorium Reactor (LFTRs)

The "old school" telephone to the left of Lex in the background seems lost whilst being near 2 of the most influential pathfinders of Artificial Intelligence in the modern world.

59:40 I've been thinking about system that looks at the market and anticipates what would happen if X action occurred, then if the outcome is a profit opportunity, manipulate the market into fulfilling it. Like a way more advanced version of GME attack on small scales

I think it would be a great idea if Lex interviewed Edward Snowden and have him speak on the technical/coding side of things, since in most of his interviews he gets questioned more about his story and the political implications of his findings. That would be an interesting conversation.

Why focus on the stock market when we can just build everyone a money printer.

@domco35

3 жыл бұрын

why waste any energy on money, when we could completely get rid of money as a concept..

@AngryOscillator

3 жыл бұрын

@@domco35 Money is just a store of value. Get rid of Money and something else will just take its place. Be it time, or skill set, or moose or physical attractiveness or.... My mate thinks we should switch to kilowatt hours in stead of money and I can't for the life of me get him to understand that its the same damn thing! Just a different medium. EDIT: I commented this before the podcast reached the point in which they discuss money. Well, I don't know about in the US and such places but British currency actually states on the note "I promise to pay the bearer". The physical cash is a symbol of what used to be gold stores. Now its just an agreed upon consensus of value. Be it an individuals influence (instagram models and youtube influences for example), be it time spent/invested/lost, be it a special skill set that is desirable; physical cash is just an crystallized store of this agreed upon value that is standardized and easily exchanged. Don't know why I felt the need to share that haha I may just post it as its own actual comment too

@domco35

3 жыл бұрын

@@AngryOscillator But value of anything is relative.. If we all had same goal, to move forward as a civilization, everybody would focus just on what he is good at. However in these days, most of our civilisation's mental and physical power goes to playing stupid games around money. When you start thinking first principles and looking at least into 100 years, not 5, with everything what is going on Earth, every action around money is a waste. Not moving us anywhere.

@domco35

3 жыл бұрын

@@AngryOscillator Praising one unit over real relative value of things is actually a problem, you doesn't need to have one. Looking into long run, it did bring more problems then solutions.

@Nicholasvelaz22

3 жыл бұрын

@@vaclavcervinka65 But money me money good now though?

Bravo Lex, Bravo 👏

If the power shuts down what happens to the commercial value of the coin? Will the flip of the switch from off to on work? I like the short squeeze ideas but the coins make me uneasy as an investment idea.

@ Lex would you consider Nick Szabo on or maybe Andreas A ?

Love youuuu

Nice watch :)

Good evening sir. What do u think about the"Lacerta interviwe?

@mustafakaud7041

3 жыл бұрын

kzread.info/dash/bejne/pIqI2LVtnKetn7g.html

A note on optimism - Teranos

That buffet quote rhymes with a historical one. When someone inquired why they put their fields in the hands of the Helots, and did not take care of them themselves, he said, "It was by not taking care of the fields, but of ourselves, that we acquired those fields." Anaxandridas of Sparta Lindy

Hi! I've been on board with all you've been saying for months. Crazy. Let's let go of Fear!

Amazing.

Freedom Always Wins. Well said Lex.

"And how beautiful it is because freedom doesn't have a purpose"1:56

Within the last year, I've been introduced to the likes of Tim Pool, Michael Malice, Luke Rudkowski, Eric July, and you. In a strange way, 2020 was a blessing.

Amazing series Lex, Honestly It's the overall remunerative nature of the stocks market that drive people into it, but 80% of newbies fail trying to replace years of proven strategies and expertise with luck and guessing. GET INFORMED out here only the experienced profit. I saw a change in my affairs when I went about it with properly it's been very rewarding ever since.

@ericmckenzie9708

3 жыл бұрын

Damn!! I needed this, everyday I try different methods and strategies from videos I watch online I can't seem to generate a profit for myself instead my losses keep piling up. Do tell. Do tell, what changed for you? How have you been making money? I need a better way to trade.

@lukekage799

3 жыл бұрын

I find people get surprised when I share how easily I manage my stock portfolio and accounts, they think tirelessly at it. Truth is I leave the numbers and all my trade affairs to Licensed pro analyst Mr Noud mika, 4 years ago in 2017 when I started investing in stock&bond I partnered with a Financial advisor/Portfolio manager Mr Noud mika, he bought some stocks that he knew would yield valuable profits and he also forecasted that these companies will triple their net-worth in a space of 4 years.I did not regret taking he's advice because we made over $860k in raw profits over the years.I started with $*0k back then. Since then his been handling all my trades for me

@olivermartins5783

3 жыл бұрын

You make it sound easy losing money to something you could prevent hurts like hell. I've been trading for a while and coming across licensed pros from a good source like this isn't easy you know. Some rich folks hide the source of the success. I won't pass up the opportunity, Is Mr Mika available to new investors? How can I contact him?

@lukekage799

3 жыл бұрын

His mail is @

@yellowledbutter

2 жыл бұрын

@@lukekage799 scam bot bs

Awesome podcast. Keep the blockchain content coming. Maybe Charles Hoskinson next?

'...in the end, freedom wins...'

I heard you say Wookie-pedia, Lex. I love it too.

This is the first time I've heard non-crypto people talk about price oracles. The use case for tokens like LINK are very compelling now.

@zagreb2012

3 жыл бұрын

Linky