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    Education

    Conversations with Tyler

    Tyler Cowen engages today’s deepest thinkers in wide-ranging explorations of their work, the world, and everything in between. New conversations every other Wednesday. Subscribe wherever you get your podcasts.

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    Latest Episodes:
    Sebastian Mallaby on Venture Capital Feb 09, 2022
    Show notes

    Venture capital powered the tech revolution, but what powers venture capital? With his in-depth knowledge and coverage of the sector you'd be forgiven for thinking Sebastian Mallaby is a veteran of the Silicon Valley scene. The author of several books on finance and economics, Sebastian takes pride in understanding his subjects intimately (perhaps too intimately, if you ask his critics). His latest book, Power Law: Venture Capital and the Making of the New Future, sheds light on the small but mighty industry.

    Sebastian joined Tyler to discuss why venture capital skills aren't more replicable, the promise of biotech despite increased regulations, why venture capital remains concentrated in the Bay area even after the pandemic, the differences in risk-taking between East and West coast finance, the secret to Mike Moritz's success as an investor, how Peter Thiel's understanding of the power law set him apart, why he isn't interested in becoming a venture capitalist himself, his predictions for the European tech ecosystem over the next ten years, the original sin of "too big to fail," the major failure of Alan Greenspan during his tenure at the Fed, the Darwinian evolution of good hedge fund strategy, what Ray Dalio got right with Bridgewater, the finance topics he feels are undercovered, what it takes to be a good Substack writer, why he's bullish on The Information, reasons to be optimistic about the innovative and entrepreneurial trajectories of Japan, the greatest living British historians, the future of the World Bank once China stops borrowing from it, what's causing the decline in popularity of liberal capitalism, the zany appeal of The Grand Budapest Hotel, and more.

    Check out Macro Musings. Follow Macro Musings on Twitter. Subscribe to Macro Musings on your favorite podcast app.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded January 31st, 2022 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Follow Sebastian on Twitter
    • Email us: cowenconvos@mercatus.gmu.edu
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    Stewart Brand on Starting Things and Staying Curious Jan 26, 2022
    Show notes

    From psychedelics to cyberculture, hippie communes to commercial startups, and the Whole Earth Catalog to the Long Now Foundation, Stewart Brand has not only been a part of many movements—he was there at the start. Now 83, he says he doesn't understand why older people let their curiosity fade, when in many ways it's the best time to set off on new intellectual pursuits.

    Tyler and Stewart discuss what drives his curiosity, including the ways in which he's a product of the Cold War, how he became a Darwinian decentralist, the effects of pre-industrial America on his thought, the subcultural convergences between hippies and younger American Indians, why he doesn't think humans will be going to the stars, his two-minded approach to unexplained phenomena, how L.L. Bean inspired the Whole Earth Catalog, why Silicon Valley entrepreneurs don't seem interested in the visual arts, why L.A. could not have been the home of hippie culture and digital innovation, what libertarians don't understand about government, why we should bring back woolly mammoths, why he's now focused on maintenance and institutions, and more.

    Check out Ideas of India. Subscribe to Ideas of India on your favorite podcast app.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded January 3rd, 2022 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Email us: cowenconvos@mercatus.gmu.edu
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    Russ Roberts on Israel and Life as an Immigrant Jan 19, 2022
    Show notes

    In this special crossover special with EconTalk, Tyler interviews Russ Roberts about his new life in Israel as president of Shalem College. They discuss why there are so few new universities, managing teams in the face of linguistic and cultural barriers, how Israeli society could adapt to the loss of universal military service, why Israeli TV is so good, what American Jews don't understand about life in Israel, what his next leadership challenge will be, and much more.

    Check out Macro Musings. Follow Macro Musings on Twitter. Subscribe to Macro Musings on your favorite podcast app.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded December 23rd, 2021 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Email us: cowenconvos@mercatus.gmu.edu
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    Ana Vidović on Prodigies, Performance, and Perseverance Jan 12, 2022
    Show notes

    Is genius born or made? For Croatian-born classical guitarist Ana Vidović the answer is both. Born into a musical family, she began playing guitar at five and was quickly considered a prodigy. But she's seen first-hand how that label can trap young talents into complacency, stifling their full development. She's also had to navigate changing business models and new technologies, learning for instance how to balance an online presence with her love of performing for live audiences.

    She joined Tyler to discuss that transition from prodigy to touring musician and more, including how Bach challenges her to become a better musician, the most difficult piece in guitar repertoire, the composers she wish had written for classical guitar, the Beatles songs she'd most like to transcribe, why it's important to study a score before touching the guitar, the reason she won't practice more than seven hours per day, how she prevents mistakes during performances, what she looks for in young classical guitarists, why she doesn't have much music on streaming services, how the pandemic has changed audiences, why she stopped doing competitions early on, what she'd change about conservatory education for classical guitarists, her favorite electric guitarists, her love of Croatian pop music, the benefits and drawbacks of YouTube for young musicians, and what she'll do next.

    Read a full transcript enhanced with helpful links.

    Recorded December 27th, 2021

    Other ways to connect

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    Conversations with Tyler 2021 Retrospective Dec 29, 2021
    Show notes

    Want to support the show? Visit donate.mercatus.org/podcasts.

    On this special year-in-review episode, Tyler and producer Jeff Holmes talk about the past year on the show, including one episode's appearance on Ancient Aliens, Tyler's picks for most underrated guests, how his 2021 predictions fared from last year's retrospective, further reflections on the most downloaded—and most polarizing—episode of the year, how David Deutsch influenced Tyler's opinions of Karl Popper, why he thinks his interviews with women tend to be better, and more. They also evaluate Tyler's pop culture picks from 2011, play "Name that Production Function," and answer listener questions from Twitter.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded December 8th, 2021 Other ways to connect

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    Ray Dalio on Investing, Management, and the Changing World Order Dec 15, 2021
    Show notes

    Want to support the show? Visit donate.mercatus.org/podcasts

    When Ray Dalio was 23, President Nixon announced that the United States would no longer be adhering to the gold standard for American currency. Clerking on the floor of the New York Stock Exchange, Dalio expected to see chaos—but instead stocks soared. Curious to understand this phenomenon, he began to read about similar events in 1933, and it opened his eyes to the lessons that could be drawn from history. His latest book draws on the patterns he's gleaned from studying dynasties and empires throughout time, as well as his own experiences as a hedge fund manager and founder of Bridgewater Associates.

    Ray joined Tyler to discuss the forces that will affect American life in the coming decades, why we should be skeptical of the saliency of current equities prices, the market as a poker game, the benefits and risks of the US dollar as the world reserve currency, why he thinks US inflation will not be transitory, the key to his success as an investor, how studying the Great Depression enabled him to anticipate the 2008 financial crisis, Bridgewater's culture of radical transparency, the usefulness of psychometric profiles, where the United States is falling short most in terms of moral character, his truth-seeking process, the kinds of education crucial to building a successful dynasty or empire—and what causes them to fail, how transcendental meditation helps him be creative and objective, what he loves about jazz music, what we undervalue about the ocean, why he loves bow-hunting Cape Buffalo, and more.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded November 5th, 2021 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Follow Ray on Twitter
    • Email us: cowenconvos@mercatus.gmu.edu
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    Ruth Scurr on the Art of Biography Dec 01, 2021
    Show notes

    The most challenging part of being a biographer for Ruth Scurr is finding the best form to tell a life. "You can't go in there with a workmanlike attitude saying, 'I'm going to do cradle to grave.' You've got to somehow connect and resonate with the life, and then things will develop from that." Known for her innovative literary portraits of Robespierre and John Aubrey, Scurr's latest book follows Napoleon's life through his engagement with the natural world. This approach broadens the usual cast of characters included in Napoleon's life story, providing new perspectives with which to understand him.

    Ruth joined Tyler to discuss why she considers Danton the hero of the French Revolution, why the Jacobins were so male-obsessed, the wit behind Condorcet's idea of a mechanical king, the influence of Adam Smith's Theory of Moral Sentiments during and after the Reign of Terror, why 18th-century French thinkers were obsessed with finding forms of government that would fit with emerging market forces, whether Hayek's critique of French Enlightenment theorists is correct, the relationship between the French Revolution and today's woke culture, the truth about Napoleon's diplomatic skills, the poor prospects for pitching biographies to publishers, why Montesquieu's Spirit of the Laws would be her desert island read, why Cambridge is a better city than Oxford, why the Times Literary Supplement remains important today, what she loves about Elena Ferrante's writing, how she stays open as a biographer, and more.

    Read a full transcript enhanced with helpful links.

    Recorded July 12th, 2021 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Follow Ruth on Twitter
    • Email us: cowenconvos@mercatus.gmu.edu
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    Thumbnail photo credit: Dan White


    David Rubenstein on Private Equity, Public Art, and Philanthropy Nov 17, 2021
    Show notes

    Baltimore native David Rubenstein is a founding figure in private equity, a prolific philanthropist, and author. From leveraged buyouts to his patriotic philanthropy to his leadership roles within institutions like the Smithsonian, Kennedy Center, and the National Gallery of Art, David has spent much of his life evaluating what makes institutions—and people—succeed.

    He joined Tyler to discuss what makes someone good at private equity, why 20 percent performance fees have withstood the test of time, why he passed on a young Mark Zuckerberg, why SPACs probably won't transform the IPO process, gambling on cryptocurrency, whether the Brooklyn Nets are overrated, what Wall Street and Washington get wrong about each other, why he wasn't a good lawyer, why the rise of China is the greatest threat to American prosperity, how he would invest in Baltimore, his advice to aging philanthropists, the four standards he uses to evaluate requests for money, why we still need art museums, the unusual habit he and Tyler share, why even now he wants more money, why he's not worried about an imbalance of ideologies on college campuses, how he prepares to interview someone, what appealed to him about owning the Magna Carta, the change he'd make to the US Constitution, why you shouldn't obsess about finding a mentor, and more.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded September 30th, 2021 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Follow David on Twitter
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    David Salle on the Experience of Art Nov 03, 2021
    Show notes

    When the audience for visual art expanded from small circles of artists and collectors into broader culture, the way art was experienced shifted from aesthetics to explanation. Art, it became thought, should be about something. But David Salle rebukes this literal-mindedness: according to him, what we think and feel when reacting to a piece of art is more authoritative than what's written on the label next to it. A painter, sculptor, and filmmaker, David is also the author of How to See: Looking, Talking, and Thinking about Art, a highly regarded book on artistic criticism.

    David joined Tyler to discuss the fifteen (or so) functions of good art, why it's easier to write about money than art, what's gone wrong with art criticism today, how to cultivate good taste, the reasons museum curators tend to be risk-averse, the effect of modern artistic training on contemporary art, the evolution of Cézanne, how the centrality of photography is changing fine art, what makes some artists' retrospectives more compelling than others, the physical challenges of painting on a large scale, how artists view museums differently, how a painting goes wrong, where his paintings end up, what great collectors have in common, how artists collect art differently, why Frank O'Hara was so important to Alex Katz and himself, what he loves about the films of Preston Sturges, why The Sopranos is a model of artistic expression, how we should change intellectual property law for artists, the disappointing puritanism of the avant-garde, and more.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded August 18th, 2021 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Follow David on Twitter
    • Email us: cowenconvos@mercatus.gmu.edu
    • Subscribe at our newsletter page to have the latest Conversations with Tyler news sent straight to your inbox.

    Stanley McChrystal on the Military, Leadership, and Risk Oct 20, 2021
    Show notes

    Stan McChrystal has spent a long career considering questions of risk, leadership, and the role of America's military, having risen through the Army's ranks ultimately to take command of all US and NATO forces in Afghanistan, a force representing 150,000 troops from 45 countries. Retiring as a four-star general in 2010, he has gone on to lecture at Yale and launched the McChrystal Group, where he taps that experience to help organizations build stronger teams and devise winning strategies. His latest book, which he tells Tyler will be his last, is called Risk: A User's Guide.

    He joined Tyler to discuss whether we've gotten better or worse at analyzing risk, the dangerous urge among policymakers to oversimplify the past, why being a good military commander is about more than winning battlefield victories, why we're underestimating the risk that China will invade Taiwan, how to maintain a long view of history, what set Henry Kissinger apart, the usefulness of war games, how well we understand China and Russia, why there haven't been any major attacks on US soil since 9/11, the danger of a "soldier class" in America, his take on wokeness and the military, what's needed to have women as truly senior commanders in the armed forces, why officers with bad experiences should still be considered for promotion, how to address extremists in the military, why he supports a draft, the most interesting class he took at West Point, how to care for disabled veterans, his advice to enlisted soldiers on writing a will, the most emotionally difficult part and greatest joys of his military career, the prospect of drone assassinations, what he eats for his only meal of the day, why he's done writing books, and more.

    Read a full transcript enhanced with helpful links, or watch the full video.

    Recorded October 6th, 2021 Other ways to connect

    • Follow us on Twitter and Instagram
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    • Follow Stanley on Twitter
    • Email us: cowenconvos@mercatus.gmu.edu
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    Thumbnail photo credit: Leading Authorities, Inc.


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