Carson Block

But eventually, the reinflation of assets will happen, at least in relative terms.

Yeah.

Yeah, that's an interesting question.

Look, passive will be to blame for a lot of the market calamity.

But how much, you know, if we were talking about a financial crisis in isolation, then, yeah, obviously, you know, all legislative guns would be focused on the passive investing industry.

but we're going to have bigger fish to fry because we're going to be wrestling with these existential questions about humanity.

What is our role in a world where our work is increasingly being performed by machines?

How do we solve that?

Given that we're going to have some much bigger questions to answer, and they're not totally unrelated, but

I think most of the attention will be on that.

But yeah, look, Passive, Mike has been warning, he's been lecturing policymakers, you know, like, you know, shouting from the mountaintops for years about what Passive is doing.

And I think the response that he's gotten at the policy level is like, wow, that's really interesting.

But, you know...

there's zero political will to do anything about that right now so you know we just have to wait and you know if your crisis ever materializes then that's when we'll do something so i think there's awareness of the problem but it's just a political will problem you know like right now you'd be taking away the you know the punch bowl and in the middle of the party and that's just not that's just not how we run things you know post gfc anymore not at all

Yeah, it's a good one.

Look, I do believe that math and science... So my kids are not near college age.

I mean, 12 and 8.

I mean, math and science, I'm very big on that.

Even though I know these things will be able to do all of your math...

I think you still need to understand how to do math.