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Audio file, also on Apple and SpotifyTyler Cowen, Ph.D, is the Holbert L. Harris Professor of Economics at George Mason University. He is the author of 17 books, most recently Talent.: How to Identify Energizers, Creatives, and Winners Around the World. Tyler has been recognized as one of the most influential economists of the past decade. He initiated and directs the philanthropic project Emergent Ventures, writes a blog Marginal Revolution, and a podcast Conversations With Tyler, and also writes columns for The Free Press." He is writing a new book (and perhaps his last) on Mentors. “Maybe AGI [Artificial General Intelligence] is like porn — I know it when I see it. And I’ve seen it.”—Tyler CowenOur conversation on acquiring information, A.I., A.G.I., the NIH, the assault on science, the role of doctors in the A.I. era,, the meaning of life, books of the future, and much more.Transcript with linksEric Topol (00:06):Well, hello. This is Eric Topol with Ground Truths, and I am really thrilled today to have the chance to have a conversation with Tyler Cowen, who is, when you look up polymath in the dictionary, you might see a picture of him. He is into everything. And recently in the Economist magazine 1843, John Phipps wrote a great piece profile, the man who wants to know everything. And actually, I think there's a lot to that.Tyler Cowen (00:36):That's why we need longevity work, right?Eric Topol (00:39):Right. So he's written a number of books. How many books now, Tyler?Tyler Cowen:17, I'm not sure.Eric Topol:Only 17? And he also has a blog that's been going on for over 20 years, Marginal Revolution that he does with Alex Tabarrok.Tyler Cowen (00:57):Correct.Eric Topol (00:57):And yeah, and then Conversations with Tyler, a podcast, which I think an awful lot of people are tuned into that. So with that, I'm just thrilled to get a chance to talk with you because I used to think I read a lot, but then I learned about you.“Cowen calls himself “hyperlexic”. On a good day, he claims to read four or fivebooks. Secretly, I timed him at 30 seconds per page reading a dense tract byMartin Luther. “—John Phipps, The Economist’s 1843I've been reading more from the AIs lately and less from books. So I'll get one good book and ask the AI a lot of questions.Eric Topol (01:24):Yeah. Well, do you use NotebookLM for that?Tyler Cowen (01:28):No, just o3 from OpenAI at the moment, but a lot of the models are very good. Claude, there's others.Eric Topol (01:35):Yeah, yeah. No, I see how that's a whole different way to interrogate a book and it's great. And in fact, that gets me to a topic I was going to get to later, but I'll do it now. You're soon or you have already started writing for the Free Press with Barri Weiss.Tyler Cowen (01:54):That’s right, yes. I have a piece coming out later today. It's been about two weeks. It's been great so far.“Tyler Cowen has a mind unlike any I've ever encountered. In a single conversation, it’s not at all unusual for him to toggle between DeepSeek, GLP-1s, Haitian art, sacred Tibetan music, his favorite Thai spot in L.A., and LeBron James”—Bari WeissYeah, so that's interesting. I hadn't heard of it until I saw the announcement from Barri and I thought what was great about it is she introduced it. She said, “Tyler Cowen has a mind unlike any I've ever encountered. In a single conversation, it’s not at all unusual for him to toggle between DeepSeek, GLP-1s, Haitian art, sacred Tibetan music, his favorite Thai spot in L.A., and LeBron James. Now who could do that, right. So I thought, well, you know what? I need independent confirmation of that, that is as being a polymath. And then I saw Patrick Collison, who I know at Stripe and Arc Institute, “you can have a specific and detailed discussion with him about 17th-century Irish economic thinkers, or trends in African music or the history of nominal GDP targeting. I don't know anyone who can engage in so many domains at the depth he does.” So you're an information acquirer and one of the books you wrote, I love the title Infovore.Tyler Cowen (03:09):The Age of the Infovore, that’s right.Eric Topol (03:11):I mean, have people been using that term because you are emblematic of it?“You can have a specific and detailed discussion with him about 17th-century Irish economic thinkers, or trends in African music or the history of nominal GDP targeting. I don't know anyone who can engage in so many domains at the depth he does.”—Patrick CollisonIt was used on the internet at some obscure site, and I saw it and I fell in love with that word, and I thought I should try to popularize it, but it doesn't come from me, but I think I am the popularizer of it.Yeah, well, if anybody was ingesting more information and being able to work with it. That's what I didn't realize about you, Tyler, is restaurants and basketball and all these other fine arts, very impressive. Now, one of the topics I wanted to get into you is I guess related to a topic you've written about fair amount, which is the great stagnation, and right now we're seeing issues like an attack on science. And in the past, you've written about how you want to raise the social status of scientists. So how do you see this current, I would even characterize as a frontal assault on science?Tyler Cowen (04:16):Well, I'm very worried about current Trump administration policies. They change so frequently and so unpredictably, it's a little hard to even describe what they always are. So in that sense, it's a little hard to criticize them, but I think they're scaring away talent. They might scare away funding and especially the biomedical sciences, the fixed costs behind a lot of lab work, clinical trials, they're so high that if you scare money away, it does not come back very readily or very quickly. So I think the problem is biggest perhaps for a lot of the biomedical sciences. I do think a lot of reform there has been needed, and I hope somehow the Trump policies evolve to that sort of reform. So I think the NIH has become too high bound and far too conservative, and they take too long to give grants, and I don't like how the overhead system has been done. So there's plenty of room for improvement, but I don't see so far at least that the efforts have been constructive. They've been mostly destructive.Eric Topol (05:18):Yeah, I totally agree. Rather than creative destruction it’s just destruction and it's unfortunate because it seems to be haphazard and reckless to me at least. We of course, like so many institutions rely on NIH funding for the work, but I agree that reform is fine as long as it's done in a very thought out, careful way, so we can eke out the most productivity for the best investment. Now along with that, you started Emergent Ventures where you're funding young talent.Tyler Cowen (05:57):That's right. That's a philanthropic fund. And we now have slightly over 1000 winners. They're not all young, I'd say they're mostly young and a great number of them want to go into the biomedical sciences or have done so. And this is part of what made me realize what an incredible influx of talent we're seeing into those areas. I'm not sure this is widely appreciated by the world. I'm sure you see it. I also see how much of that talent actually is coming from Canada, from Ontario in particular, and I've just become far more optimistic about computational biology and progress in biology and medical cures, fixes, whatever you want to call it, extending lives. 10 years ago, I was like, yeah, who knows? A lot of things looked pretty stuck. Then we had a number of years where life expectancy was falling, and now I think we're on the verge of a true golden age.Eric Topol (06:52):I couldn't agree with you more on that. And I know some of the people that you funded like Anne Wylie who developed a saliva test for Covid out of Yale. But as you say, there's so many great young and maybe not so young scientists all over, Canada being one great reservoir. And now of course I'm worried that we're seeing emigration rather than more immigration of this talent. Any thoughts about that?Tyler Cowen (07:21):Well, the good news is this, I'm in contact with young people almost every day, often from other countries. They still want to come to the United States. I would say I sign an O-1 letter for someone about once a week, and at least not yet has the magic been dissipated. So I'm less pessimistic than some people are, but I absolutely do see the dangers. We’re just the biggest market, the freest place we have by far the most ambitious people. I think that's actually the most significant factor. And young people sense that, and they just want to come here and there's not really another place they can go that will fit them.Eric Topol (08:04):Yeah, I mean one of the things as you've probably noted is there's these new forces that are taking on big shouldering. In fact, Patrick Collison with Arc Institute and Chan Zuckerberg for their institute and others like that, where the work you're doing with Emergent Ventures, you're supporting important projects, talents, and if this whole freefall in NIH funding and other agency funding continues, it looks like we may have to rely more on that, especially if we're going to attract some talent from outside. I don't know how else we're going to make. You're absolutely right about how we are such a great destination and great collaborations and mentors and all that history, but I'm worried that it could be in kind of a threatened mode, if you will.Tyler Cowen (08:59):I hope AI lowers costs. As you probably know at Arc, they had Greg Brockman come in for some number of months and he's one of the people, well, he helped build up Stripe, but he also was highly significant in OpenAI behind the GPT-4 model. And to have Greg Brockman at your institute doing AI for what, six months, that's a massive acceleration that actually no university had the wisdom to do, and Arc did. So I think we're seeing just more entrepreneurial thinking in the area. There's still this problem of bottlenecks. So let's say AI is great for drug discovery as it may be. Well, clinical trials then become a bigger bottleneck. The FDA becomes a bigger bottleneck. So rapid improvement in only one area while great is actually not good enough.Eric Topol (09:46):Yeah, I'm glad you brought up that effect in Arc Institute because we both know Patrick Hsu, who's a brilliant young guy who works there and has published some incredible large language models applied to life science in recent months, and it is impressive how they used AI in almost a singular way as compared to as you said, many other leading institutions. So that is I think, a really important thing to emphasize.Tyler Cowen (10:18):Arc can move very quickly. I think that's not really appreciated. So if Patrick Hsu decides Silvana Konermann, Patrick Collison, if they decide something ought to be bought or purchased or set in motion, it can happen in less than a day. And it does happen basically immediately. And it's not only that it's quicker, I think when you have quicker decisions, they're better and it's infectious to the people you're working with. And there's an understanding that the core environment is not a bureaucratic one. So it has a kind of multiplier effect through the institution.Eric Topol (10:54):Yeah, I totally agree with you. It's always been a philosophy in your mind to get stuff done, get s**t done, whatever you want to call it. They're getting it done. And that's what's so impressive. And not just that they've got some new funds available, but rather they're executing in a way that's parallel to the way the world's evolving in the AI front, which is I think faster than most people would ever have expected, anticipated. Now that gets me to a post you had on Marginal Revolution just last week, which one of the things I love about Marginal Revolution is you don't have to read a whole lot of stuff. You just give the bullets, the juice, if you will. Here you wrote o3 and AGI, is April 16th AGI day? And everybody's talking about artificial general intelligence is here. It's going to be here five years, it's going to be seven years.Eric Topol (11:50):It certainly seems to be getting closer. And in this you wrote, “I think it is AGI, seriously. Try asking it lots of questions, and then ask yourself: just how much smarter was I expecting AGI to be? As I’ve argued in the past, AGI, however you define it, is not much of a social event per se. It still will take us a long time to use it properly. Benchmarks, benchmarks, blah blah blah. Maybe AGI is like porn — I know it when I see it. And I’ve seen it.” I thought that was really well done, Tyler. Anything you want to amplify on that?Tyler Cowen (12:29):Look, if I ask at economics questions and I'm trained as an economist, it beats me. So I don't care if other people don't call it AGI, but one of the original definitions of AGI was that it would beat most experts most of the time on most matters, say 90% or above, and we're there. So people keep on shifting the goalposts. They'll say, well, sometimes it hallucinates or it's not very good at playing tic-tac toe, or there's always another complaint. Those are not irrelevant, but I'll just say, sit down, have someone write at a test of 20 questions, you're a PhD, you take the test, let o3 take the test, then have someone grade, see how you've done, then form your opinion. That's my suggestion.Eric Topol (13:16):I think it's pretty practical. I mean, enough with the Turing test, I mean, we've had that Turing test for decades, and I think the way you described it is a little more practical and meaningful these days. But its capabilities to me at least, are still beyond belief eke out of current, not just the large language models, but large reasoning models. And so, it's just gotten to a point where and it's accelerating, every week there's so many other, the competition is good for taking it to the next level.Tyler Cowen (13:50):It can do tasks and it self improves. So o3-pro will be out in a few weeks. It may be out by the time you're hearing this. I think that's obviously going to be better than just pure o3. And then GPT-5 people have said it will be this summer. So every few months there are major advances and there's no sign of those stopping.Eric Topol (14:12):Absolutely. Now, of course, you've been likened to “Treat Tyler like a really good GPT” that is because you're this information meister. What do you ask the man who you can ask anything? That's kind of what we have when we can go to any one of these sites and start our prompts, whatever. So it's kind of funny in some ways you might've annotated this with your quest for knowledge.Tyler Cowen (14:44):Well, I feel I understand the thing better than most people do for that reason, but it's not entirely encouraging to me personally, selfishly to be described that way, whether or not it's accurate. It just means I have a lot more new competition.Eric Topol (14:59):Well, I love this one. “I'm not very interested in the meaning of life, but I'm very interested in collecting information on what other people think is the meaning of life. And it's not entirely a joke” and that's also what you wrote about in the Free Press thing, that most of the things that are going to be written are going to…
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