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Dan Wang

๐Ÿ‘ค Speaker
823 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

What I really want to do is to inspire Americans to treat technology as a political project as well as an aesthetic project.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

I think this is one of the things that China really does well is that

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

It takes manufacturing super seriously.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And the U.S.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

has not taken it super seriously since various points in the 1980s.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

I'm fond of quoting a former chairman of the Economic Advisors who said in the 1990s in this glib quip, which is quite funny, but computer chips, potato chips, what's the difference?

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

As if these things could all be fungibly measured in quantities of dollars.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And I think there is something qualitatively different between high-end semiconductors as well as a spud.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

So I think that various parts of the American elite have decided that manufacturing is not so important.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

We don't need to manufacture socks and t-shirts.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

Fine.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

We don't need to manufacture televisions.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And here's where I start getting a little bit nervous.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

We don't need to start manufacturing iPhones or munitions or all sorts of other goods.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And that is where I get really nervous.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

What I really want is for Americans to feel the importance of having a robust manufacturing base, feel the need to try to recover some of that and err more on the side of doing more manufacturing rather than less.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

And so, again, I have no great policy prescriptions.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

I am critical of some of the policies of the present administration.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

But I think that if we are all much more committed to just building out and recognizing some of these problems that we have and recognizing China's strengths, then I think the conversation flows much more naturally about what we need to do and which statutes and regulations we need to fix.

Invest Like the Best with Patrick O'Shaughnessy
Dan Wang - The US vs China In The 21st Century - [Invest Like the Best, EP.444]

In the 1950s, I think it was in 1957, there was the Sputnik moment in which a toy satellite emerged from the Soviet Union.