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.  <br/><br/>Watch on <a target="_blank" rel="noopener noreferrer nofollow" href="https://youtu.be/ZI_tDsOhd5I">YouTube</a>. Listen on <a target="_blank" rel="noopener noreferrer nofollow" href="https://podcasts.apple.com/us/podcast/18-byrne-hobart-optionality-stagnation-and-secret/id1516093381?i=1000537574770">Apple Podcasts</a>, <a target="_blank" rel="noopener noreferrer nofollow" href="https://open.spotify.com/episode/3kodxlwooAysvxNBIam6Hj?si=wOOw5_E1TBWbMYztFyQU9Q">Spotify</a>, or any other podcast platform.</p><p><br/>Episode website <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.dwarkeshpatel.com/p/ byrne-hobart">here</a>. <br/>The Diff newsletter: <a target="_blank" rel="noopener noreferrer nofollow" href="https://www.youtube.com/redirect?event=video_description&amp;redir_token=QUFFLUhqbHZoSmtrY3VDM0l4UVNnTDQtLUhRUS1IN19jQXxBQ3Jtc0tteHdvN0JBbnNtYXBzZDJaS3FySjh6TWFOTXhWMDhvc1BaNG81cVM4eU1ydjNKbUpxTTFoRURWS3ZucFBsNzVETFNCRk9hTVBqZTFGekNHdW5SaGg2alZhMVZWN0p3bGxRSTRZM1ZTaGFScnFkRUd3OA&amp;q=https%3A%2F%2Fdiff.substack.com%2F">https://diff.substack.com/</a></p><p><a target="_blank" rel="noopener noreferrer nofollow" href="https://twitter.com/byrnehobart">Follow Byrne on Twitter</a>. </p><p><a target="_blank" rel="noopener noreferrer nofollow" href="https://twitter.com/dwarkesh_sp">Follow me on Twitter</a> for updates on future episodes!</p><p>Thanks for reading The Lunar Society! Subscribe for free to receive new posts and support my work.</p><p><strong>Timestamps: </strong></p><p>(<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.youtube.com/watch?v=ZI_tDsOhd5I&amp;t=0s">0:00:00</a>) - Byrne&apos;s one big idea: stagnation </p><p>(<a target="_blank" rel="noopener noreferrer nofollow" href="https://www.youtube.com/watch?v=ZI_tDsOhd5I&amp;t=350s">0:05:50</a>) -Has regulation caused stagnation? </p><p>(<a target="_blank" rel="noopener noreferrer nofollo