I think that it is a very classic event in the very classic bubble-bursting part of the short-term debt cycle (which lasts about seven years, give or take about three) in which the tight money to curtail credit growth and inflation leads to a self-reinforcing debt-credit contraction that takes place via a domino-falling-like contagion process that continues until central banks create easy money that negates the debt-credit contraction, thus producing more new credit and debt, which creates the seeds for the next big debt problem until these short-term cycles build up the debt assets and liabilities to the point that they are unsustainable and the whole thing collapses in a debt restructuring and debt monetization (which typically happens about once every 75 years, give or take about 25 years). Here are some thoughts I had in response to a question about Silicon Valley Bank (SIVB). This entry was posted in ai on Decemby Lex Fridman.I've been doing an AMA on social media and getting a lot of great questions I've been sharing here. On some podcast players you should be able to click the timestamp to jump to that time.Ġ2:56 – Doing something that’s never been done beforeġ7:10 – Don’t confuse dilusion with not knowingġ:01:31 – Call for adventure at the edge of principlesġ:03:26 – The line between madness and geniusġ:19:48 – Work-life balance and the arc of life Download it ( App Store, Google Play), use code “LexPodcast”. If you enjoy the podcast, please rate it 5 stars on Apple Podcasts or support it on Patreon. This conversation is part of the Artificial Intelligence podcast. If you would like to get more information about this podcast go to or connect with on Twitter, LinkedIn, Facebook, Medium, or YouTube where you can watch the video versions of these conversations. His ideas, applicable to everyone, are brilliantly summarized in his book Principles. Ray is one of the wealthiest people in the world, with ideas that extend far beyond the specifics of how he made that wealth. Ray Dalio is the founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, one of the world’s largest and most successful investment firms that is famous for the principles of radical truth and transparency that underlie its culture.
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