18: Byrne Hobart - Optionality, Stagnation, and Secret Societies

<p>Byrne Hobart writes The Diff, a newsletter about inflections in finance and technology with 24,000+ subscribers. &nbsp;</p> <p>The Diff newsletter: <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqbHZoSmtrY3VDM0l4UVNnTDQtLUhRUS1IN19jQXxBQ3Jtc0tteHdvN0JBbnNtYXBzZDJaS3FySjh6TWFOTXhWMDhvc1BaNG81cVM4eU1ydjNKbUpxTTFoRURWS3ZucFBsNzVETFNCRk9hTVBqZTFGekNHdW5SaGg2alZhMVZWN0p3bGxRSTRZM1ZTaGFScnFkRUd3OA&amp;q=https%3A%2F%2Fdiff.substack.com%2F" rel="nofollow" target="_blank">https://diff.substack.com/</a></p> <p>Byrne's Twitter: <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqa3VDZVFiamQ3MlB0SWFweWJQWER2cl9DdmwtQXxBQ3Jtc0ttQXNwRlkyZnpYcXoxX2ZtOHpfZUdFOHFrb2I4cGlKZ01pSGlFajE3Wk5haUVzNXZRTXdBc0EzdE5KaUR2cHZ6VU1HS1puak9Dakt6N2RZaEdwTWdVMVZLODVGc3E2b3hDU2xKNkdIMGZPWFpGVzFNZw&amp;q=https%3A%2F%2Ftwitter.com%2Fbyrnehobart" rel="nofollow" target="_blank">https://twitter.com/byrnehobart</a>&nbsp;</p> <p>---</p> <p>Watch episode on YouTube: <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqazNYXzJjaHhfODVLUDdBcUVUY2dSTGJWcUt5d3xBQ3Jtc0tsZDU0UHhVaThRWnhSUUg5NW1YODFJX3ZYMXhrdG44Y2xHZUFncXlPNTJxTGhGSFR5cWxJcWgyTUZEV3pObWNPYTVndjVJNC0tWUlfY0JKQjBPUkNaaFhvckIwdTZOY1RrdE1FVTRsTFYxRTVaYV9FQQ&amp;q=https%3A%2F%2Fanchor.fm%2Fdwarkeshpatel" rel="nofollow" target="_blank">https://youtu.be/ZI_tDsOhd5I</a></p> <p>Follow me on Twitter: <a href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqbHJjd3E5ZWxPRG80SVlHdnFnWjBNLVliQUxHUXxBQ3Jtc0ttd1YwODFYR0E1dmVoRFlDX1FXWEZwNU4wNmZ4TGIxNFpmRXRKM2VxZWtNSHpOY1h1WnM1MjI5REtWMU9hQ1R4UHB1dmlVMHlwUkFYRThweEJGdzBraDlSak8xR2xtUlNPRmhDYUhHdG8zV0VyQmJYVQ&amp;q=https%3A%2F%2Ftwitter.com%2Fdwarkesh_sp" rel="nofollow" target="_blank">https://twitter.com/dwarkesh_sp</a>&nbsp;</p> <p><strong>Timestamps:&nbsp;</strong></p> <p><a href="https://www.youtube.com/watch?v=ZI_tDsOhd5I&amp;t=0s">0:00:00</a> Byrne's one big idea: stagnation&nbsp;</p> <p><a href="https://ww