The Rational Reminder Podcast

Latest Episodes:

Colleen Ammerman: Gender and Human Capital (EP.218) Sep 15, 2022

Show notes

The gender pay gap is still a persistent problem in today's society, reflecting the overall state of gender inequality. It is full of complexity and comprises different facets, making it hard to understand the overall situation. We have covered the topic before, but in this episode, we go into a whole new level of detail. To help us unpack the nuance of this essential topic is Colleen Ammerman, Director of the Gender Initiative at Harvard Business School. She is also the author of Glass Half-Broken, providing readers with hard evidence and detailed analysis of the different drivers of gender inequality in the workplace. We cover the basics of gender inequality, such as how it currently exists, how it manifests in the workplace, and the subtle and less obvious ways it occurs. We also find out whether men are generally aware of the problem, the obstacles that prevent men from taking action, and the power men have to initiate positive change within organizations. Colleen also untangles the intricacies of the topic, explaining why gender equality is still a pervasive problem, how gender inequality extends to promotions, how management explains away the issue, how gender equality is also beneficial for men, and the influence of perceived gender roles in career decisions. Tune in and learn about the intricacies of gender inequality, as well as the possible solutions, with Colleen Ammerman!

Key Points From This Episode:

We start by finding out what the current situation is for women in the workplace. (0:03:22)
How to quantify gender inequality symptoms in the workplace. (0:04:12)
Whether there are similar effects of gender inequality for men of colour. (0:05:03)
Why people might still deny that there is a problem concerning gender inequality. (0:05:35)
An outline of the career obstacles that uniquely affect women. (0:07:18)
Find out if men are aware that women have additional barriers to overcome. (0:12:03)
Reasons why women may leave the workplace before retaining a leadership role. (0:14:05)
Colleen explains how we know from the data that women have less interest in higher-paying technical jobs. (0:16:14)
Learn if the adjusted gender pay gap data diminish the findings of using unadjusted gender pay gap data. (0:18:47)
Ways in which the gender pay gap extends to promotions and compensation. (0:20:34)
Colleen tells us why it is important for society to strive for more women in leadership positions. (0:21:26)
The general response from men to workplace diversity initiatives. (0:22:07)
What men should be doing in the workplace to help reduce inequalities that exist. (0:26:25)
The ways corporate directors explain the underrepresentation of women and people of colour on boards. (0:29:15)
Why we don't see more men taking action to combat gender inequality issues. (0:31:05)
She explains what homophily is and its role in workplace diversity. (0:33:13)
How the language in job descriptions determines who applies for the position. (0:37:04)
Whether there is evidence to support the notion that women prefer a growth-mindset environment to a fixed-mindset environment. (0:40:00)
What men, who are not in leadership positions, can do to overcome gender inequality problems in the workplace. (0:43:02)
What companies need to be aware of regarding hybrid and remote-work models. (0:47:14)
The steps men can take to overcome gender inequality outside of the workplace. (0:50:29)
We learn what managers can do to attract more diverse candidates. (0:52:52)
Whether there is data on the effect that gender has on hiring decisions. (0:54:22)
How gender norms or biases affect employee evaluation. (0:56:01)
Actions that women can take to advance their careers in an unequal environment. (0:59:53)
Colleen explains the issues of negotiations for men and women. (01:04:03)
The role parents can play to combat the issues of gender parity. (01:05:13)
We end the episode by learning how Colleen defines success in her life. (01:06:03)

Book From Today's Episode:

Glass Half-Broken: Shattering the Barriers That Still Hold Women Back at Work — https://amzn.to/3xbp2CG

Links From Today's Episode:

Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.

Rational Reminder Website — https://rationalreminder.ca/

Benjamin on Twitter — https://twitter.com/benjaminwfelix

Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/

Cameron on Twitter — https://twitter.com/CameronPassmore

Colleen Ammerman on Twitter — https://twitter.com/colleenammerman

Colleen Ammerman on LinkedIn — https://www.linkedin.com/in/colleenammerman/

Understanding Crypto 15: Prof. Vili Lehdonvirta: Cryptocracy: The Obfuscation of Power Sep 09, 2022

Show notes

Today, we speak to Vili Lehdonvirta, Professor of Economics, Sociology, and Digital Social Research at the Oxford Internet Institute at the University of Oxford. Professor Lehdonvirta is a social scientist whose research focuses on ways digital technologies are reshaping the organization of economies, including their associated social effects. He is also the author of two books, Cloud Empires and Virtual Economies, which provide readers with an in-depth look into the power that crypto platforms hold and a well-rounded characterization of digital markets. In this episode, we talk about the ideological underpinnings of crypto and the role of governance in making cryptocurrencies possible. We discuss the role of states in scaling markets, how states and platform companies differ, the impacts of smart contracts on governance issues, and how control and power are centralized within crypto markets, as well as the social implications of blockchain technology. Listeners will also learn about past controversies within the crypto space, why people are still needed within crypto, and the blockchain paradox, plus more!

Key Points From This Episode:

We start by learning about John Perry Barlow's vision for cyberspace. [0:05:06]
Find out about the role that states play in markets. [0:07:03]
How markets function at scale if the state is not involved. [0:07:55]
Professor Lehdonvirta's view on whether governance may precede markets. [0:08:59]
The role massive platform companies play in today's economy. [0:09:44]
Ways in which states and platform companies differ. [0:10:42]
Why he thinks public blockchain technology has garnered so much attention. [0:11:27]
An explanation of the influence John Perry Barlow's vision had on cryptocurrencies. [0:13:04]
Learn what a Kleroterion is and the role it played in Athenian democracy. [0:14:01]
Professor Lehdonvirta shares what it means to 'trust in the code.' [0:17:05]
An outline of the new properties smart contracts created. [0:18:59]
Social and economic implications of unstoppable censorship-resistant contracts. [0:21:08]
A brief rundown of how impactful smart contracts have been. [0:22:27]
How the trustless and unstoppable claims of cryptocurrencies and DAOs were affected by the DAO story. [0:24:20]
Whether the Bitcoin block-size conflict affected the perception of crypto as a trustless system. [0:28:17]
We find out the current size of the Bitcoin development team. [0:31:05]
Other examples of human discretion affecting the direction of Bitcoin. [0:31:46]
Professor Lehdonvirta explains the strategies used to preserve trustlessness after the human interventions took place. [0:35:16]
Details about an important strategy: the appeal to technical expertise. [0:38:53]
Find out if the ability to fork blockchain networks restores trustless claims of crypto. [0:39:42]
Whether users of a blockchain network, who are not miners, can influence crypto markets. [0:45:02]
Professor Lehdonvirta's opinion on who has the most control over cryptocurrency networks. [0:49:35]
Hear what aspect of Athenian democracy Nakamoto failed to replicate. [0:54:26]
We learn what the blockchain paradox is (also known as the governance paradox). [0:56:50]
Find out if Professor Lehdonvirta thinks technology changes the fundamental aspects which shape how societies are organized. [01:00:11]
Find out if blockchain has eliminated the need for nation-states. [01:02:11]
What cryptocurrencies have accomplished since their inception. [01:03:40]

The Expected Returns of Financial Literacy (EP.217) Sep 08, 2022

Show notes

What impact does financial literacy have on decision-making and financial outcomes? How is financial literacy tested? In this episode, we help listeners understand why financial literacy is vital in terms of financial well-being. Learn the definition of financial literacy, how financial literacy relates to economic outcomes, the differences between people who are financially literate and those that are not, and the contribution of financial knowledge to human capital. We discuss the topic through the perspective of several papers that will challenge how you think about financial literacy and the questions to ask yourself to test your financial understanding. Then, we talk about this week's book review regarding the effects of technology on communication and the various distractions associated with a traditional work environment. We also go through the various reviews received about the show and what we have planned for the Rational Reminder community.

Key Points From This Episode:

Breakdown of changes made to the format of current and future episodes. [0:01:49]
Introduction to today's topic: expected returns of financial literacy. [0:07:34]
Learn the definition of financial literacy. [0:09:36]
The predictive power of financial literacy concerning financial outcomes. [0:10:27]
What financially literate people are better at and how it increases human capital. [0:11:34]
The cost of financial ignorance to the individual. [0:13:06]
Overview of an interesting paper concerning active investing. [0:14:43]
A dangerous observation within the financial literacy research [0:16:34]
Find out how financial literacy is measured. [0:20:10]
Whether it is safer to put your money into one business or to invest. [0:21:23]
An important aspect of financial literacy is discussed: inflation. [0:22:34]
Why numeracy is also a fundamental aspect of financial literacy. [0:24:25]
We go through the topic of compound interest in relation to financial literacy. [0:24:57]
Hear what the global distribution of financial literacy is. [0:27:04]
How to approach the financial literacy problem from a policy perspective. [0:27:59]
We review the book, Reclaiming Conversation, and discuss communication problems technology causes. [0:35:08]
Examples of the different distractions associated with office spaces. [0:41:55]
Reasons why meetings should be thought out with clear objectives. [0:44:45]
Ways in which your phone can distract you from deep work. [0:46:36]
Steps that social media companies could take to reduce screen time. [0:51:12]
We go through recent reviews and suggestions received about the show. [0:52:22]

Understanding Crypto 14: Prof. John Cochrane: Money, (Fiscal) Inflation, and Political Freedom Sep 02, 2022

Show notes

Welcome to our limited edition crypto series. In this episode, we welcome back Professor John Cochrane, who was a guest on the Rational Reminder series, to talk everything money. Professor Cochrane has immense experience on the topic and is a Senior Fellow at the Hoover Institution at Stanford, as well as Stanford Institute for Economic Policy Research. He is also a Research Associate of the National Bureau of Economic Research, an adjunct scholar at the Cato Institute, and was a professor of finance at the University of Chicago Booth School of Business. He is also the author of several books and writes a popular blog called The Grumpy Economist. In this episode, we take a deep dive into the concept of money. We learn what numeraire is, how a numeraire is defined, and explore some of the intricacies of money. We also discuss and unpack the differences between fiscal theory and monetary theory, along with other ideas regarding the value of money. We then delve into how all this relates to cryptocurrencies, what future he sees for crypto, and much more. Tuning into this episode, listeners will challenge their thinking about the economy and how economic relations work.

Key Points From This Episode:

Professor John Cochrane explains to us the short version of fiscal theory. [0:04:35]
Find out the definition of numeraire and how it is determined within an economy. [0:05:21]
Learn whether government backing is required to define a numeraire. [0:07:05]
What Professor John Cochrane thinks is the primary function of money. [0:08:55]
Whether money needs to be a medium of exchange that stores value. [0:09:45]
He explains why money is valuable according to fiscal theory. [0:11:22]
The role of taxes in adding to the value of money according to fiscal theory. [0:12:59]
How fiscal theory's explanation for why money is valuable differs from the monetarist explanation. [0:13:33]
Find out whether the term 'fiat' is still a good adjective to describe money in a fiscal world. [0:17:24]
We learn if 'fiat' is an appropriate term to describe money according to the monetarist view. [0:19:10]
What the government debt valuation equations suggest about the stability of the price level. [0:20:21]
An outline of what happens when discount rates become volatile. [0:23:29]
Ways in which sticky prices affect the stability of the price level. [0:27:24]
Whether the supply of money is still a useful perspective today. [0:31:01]
Why monetarism theory has gained so much traction. [0:33:51]
He unpacks the purpose of monetarism theory. [0:35:21]
How fiscal and monetary actions set expected and unexpected inflation regarding fiscal theory. [0:37:10]
The level of fiscal and monetary coordination required for price stability. [0:39:58]
Whether the level of coordination needed is realistic considering the independence of the central bank. [0:42:10]
Ways in which monetary policy debt sales and fiscal policy debt sales differ. [0:45:02]
What effect the size of the central bank's balance sheet has on the price level. [0:49:52]
Repercussions of inside money issued by private banks on the price level. [0:53:06]
Statistical tests available that can be used to prove fiscal theory. [0:58:55]
Find out why COVID-related effects on the economy lead to inflation. [1:04:17]
Breakdown of the fiscal explanation for the US inflation of the 1970s. [1:11:24]
Reasons why inflation targets have been successful in some countries and not in others. [1:16:14]
A discussion about whether we have always lived in a fiscal-based economy. [1:19:24]
Whether citizens should behave differently living in a fiscal world. [1:27:51]
How the value of the dollar will be affected if more people buy cryptocurrencies. [1:28:49]
Professor John Cochrane shares if he thinks anonymous digital cash is a good thing. [1:30:51]
We discuss what the future has in store with regard to fiscal theory. [1:39:31]

Gus Sauter: Vanguard's Former CIO on Indexing, Active Management, and Private Equity (EP.216) Sep 01, 2022

Show notes

The indexing revolution is something that underpins all of our work here at the Rational Reminder and is a subject we reference in different ways in almost all of our episodes. Today we have a special exploration of this history, as we welcome Gus Sauter, the former long-time CIO of Vanguard, to talk about his incredible history at the firm, the role he played in the rise of the company, and its huge role in reforming the investing landscape. We also hear from our guest about his experience of working on numerous investing committees since he retired about a decade ago. One of the most notable things about this conversation is Gus' ability to weigh both sides of the arguments about active management, and he does a great job of balancing what he sees as the potential positives of this way of doing things. This is all strengthen by the way he presents these ideas as a powerful mix of stories, evidence, and the research he himself has conducted. To all our listeners, be sure to listen right to the end of the episode, as after the official conversation ends, Gus shared a few more thoughts on Jack Bogle and ETFs as a bonus.

Key Points From This Episode:

(0:03:49) Looking back at the part that indexing played at Vanguard when Gus started at the company.

(0:04:20) The rise of indexing in the subsequent years and the pivotal moments in this process.

(0:06:28) Initial ways that indexing was denigrated by Vanguard's competition.

(0:08:36) How the narrative changed around indexing when its utility became undeniable.

(0:09:10) The role of the University of Chicago in the growth of indexing early on.

(0:11:11) Changes in the active management space over the last few decades.

(0:12:04) Considering the role of an active manager in today's climate.

(0:14:43) Gus' opinion on balancing the strengths of indexing and active management.

(0:20:48) Differences between traditional active management and factor investing, and Gus' preferences.

(0:29:09) A look at Vanguard's recent forays into factor-based funds.

(0:31:00) Recounting Jack Bogle's thoughts on active management at different points.

(0:32:27) Evaluating active managers; weighing the processes and their maintenance.

(0:35:09) Vanguard's relative low fees and how this impacted their success.

(0:36:35) How Vanguard went about selecting investment managers.

(0:38:44) Gus talks about the structure of Vanguard; what it meant to be a truly mutual company.

(0:41:19) Thoughts on home country bias and global diversification in light of countries like Canada.

(0:45:07) Approaches to private equity; Gus' recommendations for the average investor.

(0:48:30) Access to private markets and the prohibitive effect of high fees.

(0:51:25) Accounting for the recent large flows towards private equity and the current institutional philosophy around it.

(0:54:10) Gus talks about the important questions he asks when joining a new investment committee.

(0:56:30) Comments on hedge funds and liquid assets, and their decreased returns.

(0:59:50) The psychological benefits of holding a single fund.

(1:02:44) Gus comments on how direct indexing might figure into the future.

(1:09:20) The education of investors; Gus talks about where he believes Vanguard's biggest success lies.

(1:11:48) Reflection on the impact of introducing the implementation of ETFs at Vanguard.

(1:12:56) Areas that still excite Gus about investing; the good and bad sides of increased opportunity.

(1:14:48) Gus' definition of success and his gratitude for finding a home at Vanguard.

(1:17:07) Bonus content: Gus talks about Jack Bogle's relationships with ETFs.

Understanding Crypto 13: Prof. William Magnuson: Blockchain and Democracy Aug 26, 2022

Show notes

Welcome to another episode from our limited edition crypto series. The previous guests we have spoken to about crypto generally have experience in economics, finance, or technology. In this episode, we have a look at crypto through a legal lens with Professor William Magnuson, an Associate Professor of Law at Texas A&M University School of Law. He is also the author of Blockchain Democracy, which provides readers with a guide into the world of blockchain and Bitcoin, and highlights the reasons for their growing popularity. In our conversation, we delve into everything law and order within the crypto world as Professor Magnuson explains the causes of crime, the jurisdiction of crypto, the impact of decentralized cryptocurrency on the legal system, and how to overcome the legal challenges surrounding crypto. We also talk about the underlying ideology of crypto, the origins of cypherpunks, the people who are being negatively affected by, mechanisms to enforce regulations, and much more. Tune in to learn more about crypto and blockchain through the lens of the law with Professor Magnuson! Key Points From This Episode: A brief overview of the political philosophies of Thomas Hobbes and John Locke. [0:02:48] Find out which of the two political philosophies is closer to reality. [0:04:55] What it means for political or economic systems to be decentralized. [0:05:26] An overview of the advantages and disadvantages of a decentralized system. [0:07:36] Causes of a decentralized system to become centralized. [0:09:54] Where power in an initially decentralized system tends to centralize. [0:11:38] The systems that democracies use to maintain a desired level of decentralization. [0:12:33] How close the underlying political philosophy of Bitcoin falls to the philosophies of Locke and Hobbes. [0:13:34] We learn about the origins of cypherpunks and the associated ideology. [0:14:55] Whether the current state of our world resembles the dystopian future that the cypherpunks imagined. [0:16:41] Why digital cash was so important to cypherpunks and why early attempts failed. [0:17:36] The relationship between anonymity and crime is explained. [0:20:16] What role crime has played in the development and proliferation of cryptocurrencies. [0:22:48] Why comparing cryptocurrency to cash as a similar mechanism for crime is incorrect. [0:25:53] Professor Magnuson explains how social norms affect criminal behaviour. [0:27:48] He outlines the norms seen empirically within the blockchain communities. [0:30:12] Challenges in applying existing laws and regulations to cryptocurrencies. [0:33:04] Where cryptocurrencies fall under current regulatory and legal interpretations. [0:37:44] Whether cryptocurrencies are a regulation problem or a law problem. [0:39:43] How to enforce regulations and laws for cryptocurrencies. [0:40:44] He tells us if public blockchains jeopardize the existing legal system and democracy. [0:43:17] The costs of lightly regulated or unregulated markets in terms of capital allocation. [0:47:11] Who is bearing the cost of unregulated markets. [0:51:09] Hear what he thinks blockchain's greatest accomplishments are so far. [0:51:36] We end the show by hearing whether professor Magnuson thinks it is a revolutionary technology. [0:53:07]

Asynchronous Work & Effective Equity Duration (plus Reading Habits w/ Harley Finkelstein) (EP.215) Aug 25, 2022

Show notes

We start the show with a brief highlight of recent episodes, upcoming guests, and feedback we have received about the show. We then review the book Running Remote, which provides evidence for the benefits of working remotely and asynchronous management. We also outline the three essential principles of an asynchronous mindset. We discuss the positives and benefits of remote work, why hybrid work is a flawed approach, and how to recreate face-to-face meetings in a remote world. We also give listeners a breakdown of an interesting journal article about inferring stock duration and equity trades, including key takeaways from the papers. We then welcome our special guest, Harley Finkelstein, to talk about the role that reading plays in his life. Harley is a lawyer, entrepreneur, and the President of Shopify and uses what he reads to push him further in his professional life. In our conversation, we learn the role reading has played in Shopify's culture, what his favourite books are, and inner details about his reading habit. Tune in for another jam-packed episode!

Key Points From This Episode:

We start the show with a recap of previous episodes and upcoming guests. [0:00:00]
A brief highlight of some of the reviews we have received about the show. [0:03:41]
An update on the Rational Reminder 22 and 22 reading challenge. [0:06:35]
This week's review of the book, Running Remote. [0:09:24]
The three fundamental principles of the asynchronous mindset. [0:16:58]
Hear what the seven deadly sins are regarding remote team transitions. [0:24:35]
Cameron shares a compelling paragraph from the book, Running Remote. [0:28:04]
Learn a mind-blowing statistic Cameron read in a Bloomberg article. [0:32:31]
Ben breaks down a journal article about inferring stock duration. [0:33:47]
Another interesting paper regarding the retail price of equity trades. [0:44:10]
Introduction to our guest Harley Finkelstein to talk about our 22 and 22 challenge. [0:47:20]
Harley shares details about his reading habit. [0:47:50]
How he incorporates what he has learned from reading into his professional life. [0:49:57]
Ways in which Harley finds interesting books to read. [0:51:58]
The role reading has played in Shopify's culture and work ethic. [0:53:57]
What books have had the biggest impact on him. [0:58:12]
Find out whether his daughters have embraced his love for books. [1:02:29]
Advice that Harley has for people who want to read more. [1:04:32]

Understanding Crypto 12: David Gerard: Crypto Realities Aug 19, 2022

Show notes

What is the real value of cryptocurrencies? Can crypto technology be applied to traditional financial markets? In this episode, we welcome David Gerard, a technologist and author of the books Libra Shrugged and Attack of the 50 Foot Blockchain. He uses his skills as a journalist to investigate the uses and hype around cryptocurrencies and is an outspoken skeptic of the technology. Although not originally from the technology sector, he has become an authority on the topic and has briefed the UK House of Commons Science and Technology Committee on the technology. He also runs a blog covering important aspects of the cryptocurrency space. In today's conversation, we learn some harsh realities about the benefits of cryptocurrencies and why they will not last in the long term. We learn what the real value of crypto-markets is, why he considers it to be a Ponzi scheme, what needs to change about cryptocurrencies, whether there are any benefits to the technology and the role of financial journalism in the crypto space. Listen as we unravel the political ideology which underpins crypto and whether it can be separated from the technology. We also discuss the outcome of El Salvador's bitcoin experiment and why it did not work. We also learn the reasons behind the recent crash in some crypto markets and find out which book David thinks everyone should read.

Key Points From This Episode:

We start the show by finding out the real dollar value of crypto markets. [0:03:45]
The role financial journalism played in getting crypto to where it is today. [0:06:02]
Reasons why he does not trust the value of cryptocurrencies. [0:11:04]
Why he thinks cryptocurrency journalism is not credible. [0:12:00]
He explains Bitcoin's underlying political ideology and the associated problems. [0:13:25]
The classic debate of who should have control over financial markets. [0:16:41]
Whether it is possible to remove the political ideology from crypto-technology. [0:17:34]
What the most important aspect of cryptocurrency technology is. [0:18:24]
The reasoning behind the argument, 'You just don't understand the technology.' [0:21:52]
How to make cryptocurrency work in traditional financial markets. [0:23:50]
Why the recent crash in the cryptocurrency markets occurred. [0:28:03]
Find out if cryptocurrencies can be beneficial for the 'bankless'. [0:30:25]
We discuss the outcome of El Salvador's bitcoin experiment. [0:32:20]
He outlines why Salvadorans did not like the proposed bitcoin market. [0:38:11]
Learn what the UK House of Commons Science and Technology Committee wanted to understand about cryptocurrency. [0:41:23]
How his views on cryptocurrency were received by the commission. [0:43:46]
An example of a crypto-based business that was operating illegally. [0:45:01]
Whether NFTs will allow artists and musicians to keep more financial gains from their work. [0:46:13]
We discuss whether crypto-based technologies will improve over time. [0:47:57]
Examples of good uses for crypto and blockchain technology. [0:49:22]
What would need to happen for David to change his opinion on crypto. [0:52:25]

Jay Van Bavel: Shared Identities and Decision Making (EP.214) Aug 18, 2022

Show notes

Identity helps shape our perception and thinking about the world around us. What is identity? How does it influence our perspective? These are some of the questions we answer in this episode of the Rational Reminder Podcast. In this episode, we talk with Jay Van Bavel, an Associate Professor of Psychology and Neuroscience at the University of New York, an affiliate at the Stern School of Business in Management and Organizations, and Director of the Social Identity and Morality Lab. He is also co-author of the book The Power of Us, which provides readers with cutting-edge research in psychology and neuroscience to explain how identity really works and how we can harness it for the better. His research focuses on how group identities, moral values, and political beliefs shape the mind, brain, and behaviour. He has published over 100 academic publications on the topic and has won various awards for his research achievements. In our conversation, we unpack the complexity of identity and its influence on our perspective and decision-making abilities. We cover aspects such as the differences between self-identity and group identity, how to be aware of your biases, the role that leaders play in influencing identity, and how identity plays out in social relationships. We also talk about how group identity interacts with democracy and the role of social media in shaping our identity, as well as learn some practical advice to help broaden your perspective.

Key Points From This Episode:

We start the show by learning the basics of group identity. [0:03:29]
How group identity differs from self-identity. [0:04:04]
He explains how impactful group identity is to individual identity. [0:05:06]
Whether there is good data on how many groups people typically identify with. [0:06:08]
How aware people are of the groups they identify with. [0:07:27]
Ways in which group identity affects decision-making. [0:08:12]
The effect group identity has on setting and achieving goals. [0:09:35]
General ways group identity affects social relationships. [0:15:21]
A deeper explanation about groups, memberships, and physical presence. [0:17:28]
Differences between introverts and extroverts. [0:19:18]
How group identity affects our thinking and perspective. [0:20:43]
Associate Professor Van Bavel explains how to foster social cohesion, using America as an example. [0:25:41]
Find out if people have a default identity that determines their perspective. [0:28:41]
What people can do to be aware of which identity is affecting their thinking. [0:30:10]
Find out if group identity affects how people learn new information. [0:31:58]
Whether people can change or broaden their identity to improve decision-making. [0:34:18]
Practical advice to help broaden someone's perspective. [0:37:25]
The challenges of changing your group identity entirely. [0:39:34]
Steps that one can take to view the world more objectively. [0:42:04]
A rundown of how leaders influence the thinking and decision-making of individuals. [0:45:47]
An outline of what qualities to look out for in groups. [0:48:49]
The influence of social media on which groups people identify with. [0:52:21]
We learn if following people on social media with opposing views helps break down group barriers. [0:55:57]
An explanation of how group identities interact with democracy. [0:58:48]
The differences between current political divisions and past political divisions. [1:03:59]
How well studies on the topic can be replicated. [1:05:43]
We end the show by learning how Associate Professor Van Bavel defines success. [1:09:18]

Understanding Crypto 11: Quinn DuPont: Understanding Crypto: An Interdisciplinary Approach Aug 12, 2022

Show notes

In this episode, we speak to Quinn DuPont, a self-described technology historian and researcher of everything crypto. He is fascinated by what humans do and how technology affects what humans do. Quinn focuses his research on the history, meaning, use, and socio-technical development of cryptography. He has published many academic papers on the subject, including the book Cryptocurrencies and Blockchains, and is currently an adjunct professor at the UBC School of Information. He approaches investigating the world of crypto as a scientist making him neither a skeptic nor a proponent of the technology, offering listeners an objective perspective. In this episode, we unpack the basics of crypto and take a deep dive into the theoretical and technological concepts. We learn about the ideological foundations of crypto, how crypto technology will impact governance, what the definition of money is, the potential of the technology to society, and the social components associated with cryptocurrencies. We also find out the real value of crypto and learn about the ethical challenges Quinn faces as a researcher in the space.

Key Points From This Episode:

[0:05:16] The ideological worldview that resulted in cryptocurrencies.
[0:10:51] Quinn explains his standard criticism of the critics.
[0:13:43] Why the ideological origins of crypto are irrelevant today.
[0:15:50] The nuance surrounding the immutability of crypto technology is discussed.
[0:17:04] What the benefits of the cryptosystem are for governance.
[0:19:48] How well he thinks crypto fits within a democratic society.
[0:25:41] Reasons why political ideology needs to be taken into account.
[0:28:19] Quinn tells us his definition of money.
[0:31:18] What impact decentralized censorship-resistant monies have on society.
[0:38:52] How valuable a cryptocurrency in the real world is.
[0:40:48] Why paying your taxes gives money value.
[0:44:25] Whether Quinn considers Bitcoin to be money.
[0:46:09] He walks us through the benefits of DeFi to societies.
[0:49:30] We learn what the downsides of DeFi to societies are.
[0:50:22] Learn if blockchain solves any of the problems that exist in traditional finance.
[0:57:57] The advantages of bitcoin-based technology for business logistics.
[01:03:00] Why some blockchain business technology is marketing hype.
[01:04:32] How a DAO is different from a traditional corporation.
[01:10:24] Find out what would happen if we turned our podcast into a DAO.
[01:15:35] Whether smart contracts replicate the role of traditional contractual relations.
[01:19:51] Quinn outlines the ethical challenges to researching cryptocurrencies and blockchain.
[01:27:32] Hear what he thinks the greatest disappointments and successes of crypto are.
[01:31:32] We end the show by finding out if Quinn considers crypto and blockchain to be a technological revolution.

Our TOPPODCAST Picks

Follow Us

Stay Connected

The Rational Reminder Podcast

Related Podcasts

Links

Stay Connected