Inside the Booming Market for Dinosaur Fossils

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Odd Lots 51 min 10 speakers 6 chapters transcribed 4 months ago
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What is the main topic discussed in this episode?

Stephen Carroll 0:00
Hello, I'm Stephen Carroll. I'm in Brussels, where many of Europe's biggest decisions get made.
Caroline Hepke 0:05
And I'm Caroline Hepke in London. We're the hosts of the Bloomberg Daybreak Europe podcast.
Stephen Carroll 0:10
We're up early every weekday, keeping an eye on what's happening across Europe and around the world.
Caroline Hepke 0:15
We do it early so the news is fresh, not recycled, and so you know what actually matters as the day gets going.
Stephen Carroll 0:21
From Brussels, I'm following the politics, policy and the people shaping the European Union right now.
Caroline Hepke 0:27
And from London, I'm looking at what all that means for markets, money and the wider economy.
Stephen Carroll 0:33
We've got reporters across Europe and around the globe feeding in as stories break.
Caroline Hepke 0:37
So whether it's geopolitics, energy, tech or markets, you're hearing it while it happens.
Stephen Carroll 0:43
It's smart, calm and to the point.
Caroline Hepke 0:45
And it fits into your morning.
Stephen Carroll 0:46
You can find new episodes of the Bloomberg Daybreak Europe podcast by 7am in Dublin or 8am in Brussels, Berlin and Paris.
Caroline Hepke 0:54
On Apple, Spotify, YouTube or wherever you get your podcasts.
Tracy Alloway 1:18
Hello and welcome to another episode of the OddLots Podcast. I'm Tracy Alloway.
Joe Weisenthal 1:22
And I'm Joe Weisenthal.
Tracy Alloway 1:23
Joe, when you were a kid, or do your children now, are they into dinosaurs? Did you go through a dinosaur phase?
Joe Weisenthal 1:30
Yeah, yeah, absolutely. I loved dinosaurs as a kid. My kids are, of course, into dinosaurs. They're really into not only dinosaurs, but telling me which prehistoric animals aren't dinosaurs.
Tracy Alloway 1:40
Wait, does this come up a lot in conversation?
Joe Weisenthal 1:43
Yeah, because I'm a troll to them. So I'll be like, what's your favorite? Oh, no, Joe. No, but I'll say things like, what's your favorite dinosaur? Mine's the pterodactyl. And then my daughter rolls her eyes like, Dad, pterodactyl is not technically a dinosaur.
Tracy Alloway 1:56
Wait, is that true?
Joe Weisenthal 1:56
I did not know that. Yeah, yeah.
Tracy Alloway 1:58
Wait, explain.
Joe Weisenthal 2:00
It's something I don't understand it. Apparently, it's not technically a dinosaur. It's a prehistoric animal of some different nature that is technically not a dinosaur. Look it up.
Tracy Alloway 2:10
All right. Well, learn something new every day.
Joe Weisenthal 2:14
You know what? I'm going to sound like a crank here. I'm not a flat earther, but I'm skeptical of dinosaurs. I'm sure they existed, and I know we have fossil records of them, but here's what I don't get, okay? And I know this isn't technically the topic, but I'm just kidding. So it's like, okay, we had all these animals and they're really crazy looking, these big beasts, and they sort of look like dragons in some cases or lizards or gigantic. And then they all went extinct for some reason, probably a meteor or something. And then evolution started again. We got a new set and the new animals don't look anything like the dinosaurs by and large.
Tracy Alloway 2:47
That's not true. Chickens look like little dinosaurs.
Joe Weisenthal 2:49
Come on. No, they don't.
Tracy Alloway 2:51
Yeah, they do.
Joe Weisenthal 2:52
I'm sorry, they don't. They don't. They do. They don't. I've seen Jurassic Park. I've been to the museum. I love looking at the fossil records. I know what chickens look like.
Tracy Alloway 3:00
No, chickens have a total reptilian vibe. You can see it.
Joe Weisenthal 3:04
I disagree.
Tracy Alloway 3:05
All right.
Joe Weisenthal 3:06
Okay, so this podcast is going to be- But where's the Tyrannosaurus? There's nothing that looks like a Tyrannosaurus. There's nothing that looks like a Brontosaurus.
Tracy Alloway 3:12
Strong disagree. A lot of birds look like T-Rexes. Okay.
Joe Weisenthal 3:17
Oh, this is the other thing. Oh, there were birds and they actually had feathers. That's certainly not how they're depicted in like a lot of Well, when you were growing up. A lot of birds look like T-Rexes. What?

Why are dinosaur fossils becoming popular among millionaires?

Joe Weisenthal 3:27
Yes. No, they don't.
Tracy Alloway 3:29
They do. No, they don't. Okay. This could be 60 minutes of Joe and I arguing.
Joe Weisenthal 3:36
A bird looks like a T-Rex? What? It does. Come on.
Tracy Alloway 3:40
You need to look at more birds, Joe. That's your problem. Okay. Rather than us keep going with this, we're going to talk about a market, an interesting market. A market that unusually, for nowadays, is actually going up and is at records, and that is the fossil market, the dinosaur fossil market.
Joe Weisenthal 3:58
Okay, now this I'm very interested in.
Tracy Alloway 4:00
Now I have your attention.
Joe Weisenthal 4:01
I believe that fossils exist.
Tracy Alloway 4:04
Okay.
Joe Weisenthal 4:04
I'm glad we established that. I actually was at a dinner once, and I met someone who is a commercial fossil pursuer, hunter, collector, whatever.

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