Are We Reliving 1929? Parallels to Today’s Market Mania — ft. Andrew Ross Sorkin
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What is the new book “1929” about and why is it relevant today?
Today's number eleven. That's the percentage increase in Halloween candy prices this year compared to twenty twenty four. A true story. Last Halloween I went dressed as a chicken and I met a girl dressed as an egg, which answered the age old question, the chicken.
Listen to me. Markets are bigger than us. What you have here is a structural change in the wealth distribution. Cash is trash.
Stocks look pretty
attractive. Something's gonna break. Forget about it.
I actually think Halloween and Valentine's Day are very similar. They both involve candy and I pretend to be something I'm not. Tend to be thoughtful, caring. Two bangers in a row. Two bangers. Let's talk about Halloween.
What are you doing? Uh I'm going to a party. I'm going to dress up as Inspector Cluseau, and my girlfriend's gonna be the Pink Panther. I do have another Halloween story actually, and that is I went to a party last week that for some reason I thought was a costume party. It was my friend's birthday dinner, and I convinced my girlfriend that it was a costume party, and she was just assumed that I was right. I was like, Yeah, yeah, it's definitely you would we want to get dressed up. We show up as cowboy and cowgirl with cowboy hats and it is a regular dinner party. Everyone is dressed completely normally. Uh so it's quite a shocking experience for us.
Yeah, if that's the most embarrassing thing that's happened to your girlfriend being your Having her you as her boyfriend, she's she's got a world of surprise coming her way. She's gonna deal with some more. Ed, ask me what I'm doing. Ask me what I'm asking what I'm doing. What am I doing? What are you up to, Scott? What what's going on with you? What are you up to, Scott? Wha what kind of policies are you going to? Well, Ed, I don't like to talk about this kind of thing, but I am going to Toronto tomorrow. Now you say why you're going to Toronto. Ah,
why
are you going to
Toronto?
I'm a um accepting an award from the Simon Wiesenthal Center. And the spirit of hope dinner. uh for our advocacy and protection, I think, of the Jewish people, and it's me and Van Jones, which is one, a very big award and two shows you how deep into the barrel you have to go because so few Jews are actually speaking out. But anyways, going to Canada to get an award. This is a very serious topic, Ed. Don't laugh. Don't laugh. What's so funny? Let me guess. You just got back from voting for Mom Donnie. Let me guess.
No, I just love the I love I love how I love the setup. Just uh I don't know if we're gonna have this in the edit, but the the prompting. It's a true story. I know it's a true story. I'm going to Toronto tomorrow morning. I know, I'm very excited for you. You're gonna be back in New York and we're gonna we're gonna have I think a few meetings, right? They go over
how how the business is doing. Can I just say so far I think this is our most cringy opening and that is not easy. I brought in Judaism, Toronto, Halloween. There's all this is this is a this is a fruit salad of weird. Yeah, we're doing our team meeting. I like to I like to encourage everyone to work harder. Um and we're gonna go over the business. Business is rocking by the way. I mean markets is a drag on the business, but That was good. This show needs some work. Yeah, it's no this show needs some work. No, the business is going really well. Right place, right time. Who would have thought podcasting?
We're gonna get the first full picture of what it's like doing this show five days a week. Because people people forget we only started doing this very recently. So this is our first full quarter where we're gonna review the financial performance of doing this show every weekday. I personally am very excited to see how much money we're making off of this thing.
You're my I'm gonna give another reference that only drew our technical director, who's uh he's the only person over the age of forty on this call. The only he will write. You're my Fernando Valenzuela. Do you know who Fernando Valenzuela is? I don't. He he looks scared that I'm gonna say it's some sort of like Norwegian porn star or something.
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Chapters
8 chapters
1
What is the new book “1929” about and why is it relevant today?
0:00–6:40
2
How did the 1929 crash unfold and what were its key causes?
6:40–17:37
3
What parallels does Andrew Ross Sorkin see between 1929 and today’s market mania?
17:37–30:32
4
How does speculation in the AI boom compare to the credit boom of the 1920s?
30:32–42:54
5
What lessons can investors learn to avoid a repeat of the 1929‑style crash?
42:54–54:04
6
How does the current New York mayoral race reflect the political climate of the Great Depression era?
54:04–59:25
7
What storytelling techniques does Andrew use to bring historical characters to life?
59:25–1:01:36
8
What personal advice does Andrew give about ambition, work‑life balance, and public service?
1:01:36–1:02:13
Speakers
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