The New Book That Scares Big Tech

In the late 19th century, a railroad boom fueled by easy money, speculative investment, and new technology helped kick off one of the worst financial crises in American history. Sound kind of familiar?

In today’s episode, Derek talks with author Liaquat Ahamed about his new book, '1873,' and the similarities between the railroad mania of the 19th century and today’s AI boom. They discuss America’s first venture capitalists and the role of the Rothschild family, how manias inevitably create bubbles, and what the Panic of 1873 can teach us about the huge debts now financing artificial intelligence.

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Host: Derek Thompson

Guest: Liaquat Ahamed

Producer: Devon Baroldi

Additional Production Support: Ben Glicksman

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