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    Business

    Infinite Loops

    Every Thursday, join Jim O’Shaughnessy and his favorite people as they arm you with the tools & fresh perspectives required to upgrade your HumanOS and thrive in our messy, probabilistic world.

    Visit our Substack at newsletter.osv.llc for full transcripts, highlights, weekly doses of timeless wisdom, and a bounty of other goodies designed to make you go, “Hmm that’s interesting!”

    Advertise
    • Apple Podcasts
    • Google Play
    • Spotify

    Latest Episodes:
    Sam McRoberts — The Grand Redesign (EP.143) Jan 19, 2023
    Show notes

    Author, CEO of VUDU Marketing and digital nomad Sam McRoberts returns for his second appearance on Infinite Loops. This week, Sam and Jim discuss Sam's latest book 'The Grand Redesign'. Part science-fiction, part operating manual for upgrading human OS, 'The Grand Redesign' touches on a number of recurring Infinite Loops themes, and is available for free online (see 'Important Links' section below). Important Links:

    • The Grand Redesign
    • Sam's Twitter
    • Sam's Substack
    • The Thinker and The Prover
    • Tinkered Thinking's winning entry to our 'White Mirror' competition

    Show Notes:

    • Why Sam wrote the book
    • Is the Watcher a reliable narrator?
    • Interfering with complex systems
    • An overview of Social OS
    • Why we need White Mirror
    • The kindness pledge
    • Incentives and the Cobra Effect
    • How do we break the Shannon limit?
    • Jim's movie idea
    • Improving the political and legal system
    • The opportunities of AI
    • Optimising our system for flourishing
    • Finding the hidden geniuses
    • Sam's solutions; reaching the tipping point
    • Sam's hopes for the book
    • MUCH more!

    Books Mentioned:

    • The Grand Redesign; by Sam McRoberts
    • The Status Game: On Human Life and How to Play It; by Will Storr
    • Prometheus Rising; by Robert Anton Wilson
    • House of Cards: Psychology and Psychotherapy Built on Myth; by Robyn Dawes
    • The Lessons of History: by Will Durant and Ariel Durant
    • Happy: Why More or Less Everything is Absolutely Fine; by Derren Brown
    • The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future; by Kevin Kelly

    Cliff Asness — FTX, Hedge Funds and the Value Spread (EP.142) Jan 12, 2023
    Show notes

    Cliff Asness is the Founder, Managing Principal and Chief Investment Officer at AQR Capital Management. Prior to co-founding AQR Capital Management, he was a Managing Director and Director of Quantitative Research for the Asset Management Division of Goldman, Sachs & Co. Cliff joins the show to discuss FTX, AMC , why hedge funds aren't hedging, the role of index funds and a whole lot more. Important Links:

    • Cliff's Twitter
    • Cliff's Blog
    • AQR Capital Management
    • Do Hedge Funds Hedge?

    Show Notes:

    • Cliff's take on FTX and crypto
    • The AMC saga
    • HODL and the MOASS
    • Finding the right media format for substantive investment conversations
    • Thoughts on the value spread
    • "We don't want a world where markets are perfect"
    • Hedge funds aren't hedging
    • The role of index funds
    • Never override a model
    • "Study statistics and stick to your principles"

    Books Mentioned:

    • What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time; by Jim O'Shaughnessy

    Ben Tossell — Opportunities in AI (EP.141) Jan 05, 2023
    Show notes

    Ben Tossell writes Ben's Bites, a daily newsletter on AI that's read by over 15,000 others from Google, a16z, Sequoia, Amazon, Meta and more. He previously founded Makerpad, a no-code education side which was acquired by Zapier in March 2021. Important Links:

    • Ben's Newsletter
    • Ben's Twitter

    Show Notes:

    • Ben's journey into AI
    • The importance of ease of use
    • How AI will impact our lives
    • Ben's hackathon
    • Balancing originality and usefulness
    • Why Ben is wary of providing strategic advice
    • Achieving ground-up change with AI
    • Interaction between the AI industry and the governments
    • How Ben wants AI to be used
    • Following your curiosity
    • Making the world more competitive
    • MUCH more!

    O'Shaughnessy Ventures is Here (EP.140) Jan 01, 2023
    Show notes

    We've landed. After 3 months of stealth mode, sneak-peeks, and surprise announcements, we have finally hit launch day. In this special episode of Infinite Loops, hosted by Patrick O'Shaughnessy, Jim chats through the rationale behind founding OSV, the positive impact he wants it to have on the world, and the ways you can get involved. Important Links:

    • OSV's Website
    • Jim's Twitter

    Show Notes:

    • The origins of OSV
    • Why OSV does not invest third parties' money
    • The story of Jim's investment in Stability AI
    • What has surprised Jim the most about the world of AI
    • What OSV will look like on 1 January 2023: the four verticals
    • Assembling the OSV team
    • OSV's objective function
    • Where the majority of Jim's energy will be directed
    • How you can get involved with OSV

    Tom Morgan & Brett Andersen — Intimations of a New World Worldview (EP.139) Dec 29, 2022
    Show notes

    Tom Morgan returns for his third appearance on Infinite Loops with Jim, Infinite Loops' own Ed William and special guest Brett Andersen, an evolutionary psychology PhD student at the University of New Mexico. We discuss the implications of the ideas presented in Brett's fantastic essay 'Intimations of a New Worldview', whether the rise of anti-heroes is a challenge to Campbell's Hero's Journey, the influence of conscious vs unconscious design, and much more. Important Links:

    • Intimations of a New Worldview
    • Brett's Substack
    • Brett's Twitter
    • Tom's blog
    • Tom's Twitter
    • Awakening from the Meaning Crisis

    Show Notes:

    • Objective vs subjective morality
    • Complexity as a precondition
    • Biological complexification
    • Complexification and social selection
    • Relevance realisation
    • Jordan Peterson's 'Maps of Meaning' and the metamyth
    • The optimal path and the process of creation
    • The cognitive purpose of supernatural beliefs
    • Mapping a response to the meaning crisis
    • Quantum entanglement and consciousness
    • Practical implications of Brett's theory
    • Cultural evolution
    • Conscious vs unconscious design
    • There is an underlying flow of things
    • Breaking Bad and the Hero's Journey
    • Slack vs tension
    • MUCH more!

    Books Mentioned:

    • Meaning in Life and Why It Matters; by Susan Wolf
    • The Romance of Reality: How the Universe Organizes Itself to Create Life, Consciousness, and Cosmic Complexity; by Bobby Azarian
    • The Life of the Cosmos; by Lee Smolin
    • Evolution's Arrow: the direction of evolution and the future of humanity; by John Stewart
    • Nonzero: The Logic of Human Destiny; by Robert Wright
    • The Mating Mind: How Sexual Choice Shaped the Evolution of Human Nature; by Geoffrey Miller
    • Maps of Meaning: The Architecture of Belief; by Jordan Peterson
    • Zombies in Western Culture: A Twenty-First Century Crisis; by John Vervaeke
    • Principia Mathematica; by Alfred North Whitehead and Bertrand Russell
    • The Master and his Emissary: The Divided Brain and the Making of the Western World; by Iain McGilchrist
    • The WEIRDest People in the World: How the West Became Psychologically Peculiar and Particularly Prosperous; by
    • The Genius of the Beast: A Radical Re-Vision of Capitalism; by Howard Bloom
    • Life Finds A Way: What Evolution Teaches Us About Creativity; by Andreas Wagner
    • Tao Te Ching; by Laozing

    Brom Rector — Investing in Psychedelics (EP.138) Dec 22, 2022
    Show notes

    Brom Rector is the founder of Empath Ventures, a VC fund that in invests in early-stage psychedelics startups. Prior to founding Empath, Brom sent several years as a portfolio manager and quantitative researcher. Brom joins the show to discuss the current state of the psychedelics industry, the lessons learned founding a VC fund, the differences between psychedelics and cannabis, and a whole lot more. Important Links:

    • Empath Ventures
    • Brom's LinkedIn
    • Brom's Twitter
    • The Brom Podcast

    Show Notes:

    • How Brom became interested in psychedelic investing
    • Psychedelics and the mental health epidemic
    • Depoliticising psychedelics
    • Empath Ventures' business model
    • How we can scientifically improve psychedelics
    • The influence of hippie culture
    • A contrarian view on Big Pharma
    • The potential benefits of ibogaine
    • The differences between cannabis and psychedelics
    • Do some people not react to psychedelics?
    • Brom's thoughts on microdosing
    • Lessons learned from founding a VC company
    • The benefits of Rule 506(c)

    Books Mentioned:

    • How to Change Your Mind: What the New Science of Psychedelics Teaches Us About Consciousness, Dying, Addiction, Depression, and Transcendence; by Michael Pollan
    • Healing Back Pain: The Mind-Body Connection; by John E. Sarno MD

    Johnathan Bi — René Girard and the Philosophy of Innovation (EP.137) Dec 15, 2022
    Show notes

    Ahead of the release of the next episode of his lecture series on René Girard, Johnathan Bi returns for his second appearance on the show. He and Jim discuss Girard, prestige, innovation, AI, and much more. Enjoy! Important Links:

    • Johnathan's website
    • Johnathan's Twitter
    • Johnathan's lecture series with David Perell
    • Our research note on Johnathan
    • Johnathan's first appearance on the show

    Show Notes:

    • The Girardian notion of prestige
    • What proof is there for mimesis?
    • The difference between mimesis and status signalling
    • Philosophical critiques of Girard
    • Girard on innovation
    • Historical understandings of innovation
    • A conversation between a pessimist and an optimist
    • AI, progress and the panopticon
    • Could we ban innovation?

    Books Mentioned:

    • The Status Game: On Human Life and How to Play It; by Will Storr
    • The Alchemy of Finance; by George Soros
    • The Laws of Imitation; by Gabriel Tarde
    • When These Things Begin: Conversations with Michel Treguer; by René Girard
    • The Beginning of Infinity: Explanations That Transform the World; by David Deutsch
    • The Invention of Improvement: Information and Material Progress in Seventeenth-Century England; by Paul Slack
    • Zero to One: Notes on Startups, or How to Build the Future; by Peter Thiel

    Rohit Krishnan — Unleashing Curiosity (EP.136) Dec 08, 2022
    Show notes

    Rohit is a VC and essayist who writes fascinating, thought-provoking essays on complexity, progress, innovation and technology over at Strange Loop Canon. He joins the show for a second time to discuss the lessons learned from the FTX meltdown, why there isn't a philosophy of business, creating an AI picture book, and a whole lot more. Important Links:

    • Rohit's Twitter
    • Rohit's Substack
    • Our research note on Rohit

    Show Notes:

    • What can VCs learn from FTX?
    • FTX, hubris and good manners
    • "Don't let anyone push you into a decision that you don't want to make"
    • Signing up to the right narratives
    • Why you can't beat the market
    • Why isn't there a philosophy of business?
    • Markets, desire and innovation
    • How AI allows us to talk to machines in our language
    • The complexities of the AI sentience debate
    • How AI unlocks new outlets for creativity
    • The need for positive stories
    • The three components of innovation
    • "Curiosity is a shit starter"
    • Finding new ways to create community
    • Openness and experimentation
    • MUCH more!

    Books Mentioned:

    • What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time; by Jim O'Shaughnessy
    • The Genius of the Beast: A Radical Re-Vision of Capitalism; by Howard Bloom
    • Unflattening; by Nick Sousanis
    • Slouching Towards Utopia: An Economic History of the 20th Century; by Brad DeLong
    • American Gods; by Neil Gaiman
    • Lessons: A Novel; by Ian McEwan

    Julia Bonafede — A Deep Dive into Deep Reinforcement Learning (EP.135) Dec 01, 2022
    Show notes

    Julia is the co-founder of Rosetta Analytics Inc, "an alternative asset manager that is pioneering the use of advanced artificial intelligence to build and actively manage liquid investment strategies." Prior to co-founding Rosetta, Julia served as President of Wilshire Consulting and was a member of Wilshire's Board of Directors and Consulting Investment Committee. Julia joins the show to take a deep dive into deep reinforcement learning and Rosetta's pioneering work using AI as the basis of its investment strategies. Important Links:

    • Rosetta Analytics
    • Julia's LinkedIn

    Show Notes:

    • Julia's journey from Wilshire to Rosetta
    • Defining deep reinforcement learning
    • AI and non-linear thinking
    • Using adaptive models
    • Overcoming the human need for 'why'
    • Pitching deep reinforcement learning models to new investors
    • Telling positive stories about AI; improving our discourse
    • "Wake up and look for the joy"; "overcoming fear is the biggest barrier to success"

    Books Mentioned:

    • What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time; by Jim O'Shaughnessy
    • The Beginning of Infinity: Explanations That Transform the World; by David Deutsch
    • The Fourth Turning: An American Prophecy - What the Cycles of History Tell Us About America's Next Rendezvous with Destiny; by William Strauss and Neil Howe

    Liberty RPF — On Creation and Curation (EP.134) Nov 24, 2022
    Show notes

    Creator and curator Liberty RPF returns for his second appearance on Infinite Loops. He and Jim discuss the art of curation, the opportunities and risks of AI, the curse of creativity, the future of learning, and MUCH more!


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