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...Political will for public R&D investment has materialised....
...I’m Ethan Wu. Thanks for listening. [MUSIC PLAYING]...
...Be that as it may, we thought we’d talk about some of the fundamentals going on....
...Ethan WuIs Steve Huffman an artificial intelligence already? Unclear. Robert Armstrong(Laughter) Exactly. He is the Borg. Ethan Wu(Laughter) So and this gets to . . ....
...We’d love to have you....
...As I mentioned the last show, we’re doing a listener questions episode in the near future, and we’d love to hear from you. ethan.wu@ ft.com. All right, Ortenca, thank you for being here....
...Ethan Wu Well, it’s a funny question because this feels like a 40-year-old question. Like, this is something you’d be talking about in the 1980s if you were like my dad or whatever....
...Liz Truss, if you would like to be an Unhedged interviewee, please let us know. Katie MartinAnytime. [MUSIC PLAYING] Ethan WuWe’d be very happy to have you on anytime, anytime....
...(Ethan Wu) One good read One problem with US politics: losing elections is too pleasant....
...Although each episode still had individual moments of genius, there was a growing sense that the show was becoming less focused....
...There’d be much more consensus on what counts as an extraordinary claim. The Dow is going to go down 90 per cent? OK, that’s pretty extraordinary....
...And in the long run, it’s not one of these kind of cyclical changes that you’d associate with early/mid/late cycle, is it?...
...It picks out individual stocks and bunches them together in different ways....
...and they make it harder and harder for people to kind of make successful individual stock picks....
...Unhedged: But now you have an IBM computer that can tell you an accurate price, at a spread that works for you....
...That size is actually an advantage, not an impediment. Robert ArmstrongOr used to be you’d think size will attract competition. But now size, like, destroys competition in many cases....
...Paul Krugman once dismissively referred to my argument as being about individuals. I think it’s about an individual, Xi, because of the regime shift....
...It’s really only the last point that gives us serious pause, but we are keen to hear what readers think: robert.armstrong@ft.com and ethan.wu@ft.com....
...Against such an economic backdrop, you’d expect similarly robust earnings growth. But judging by bottom-up analyst estimates, that’s not happening....
...Like, if I’d been like less of a scaredy cat and less cautious, and if I’d got out of cash, then there could have been like much more, much bigger returns for me there....
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