Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work
Magnificent Noise x Richard Kramer x Will Page
Recent Episodes
This week we welcome Mark Mulligan of MIDiA Research who has had a ringside seat for years and years of bubbles, be it the creator economy, NFTs or AI music, or just everyone claiming they are gaining market share at the same time. He is the founder and driving force behind the tiny little company that an entire industry looks to as the source of truth.
For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com
You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/
More on Will Page at: https://pivotaleconomics.com
(Times below correspond to the episode without considering any inserted advertisements.)
In this episode of Bubble Trouble, hosts Richard Kramer and Will Page are joined by Mark Mulligan, a leading music industry analyst and founder of MIDiA Research. They delve into the intricate world of the music industry, discussing the evolution from digital streaming to the rise of new phenomena such as NFTs and AI in music. The trio explores the concept of bifurcation in markets and the distinction between high-end experiences versus bargain deals within the industry. The conversation also touches on the significant cultural shifts, the role of trade associations, and the future of personalized music experiences. Despite the optimism around technology, the hosts remain critical of mainstream narratives, emphasizing the importance of genuine innovation and realistic market assessments. This insightful and provocative discussion is a must-listen for anyone interested in the intersection of music, technology, and finance.
00:00 Introduction to Bubble Trouble
01:02 Welcoming Special Guest Mark Mulligan
01:26 Mark Mulligan's Background and Insights
02:34 The Evolution of Music Supply
04:20 The Democratization of Music Creation
06:13 AI and the Future of Music
12:16 Fragmentation and Hyper-Targeting in Media
13:40 The Role of Superstars and Long Tail Creators
19:20 Streaming Platforms: Carnivores vs. Herbivores
25:45 TikTok's Influence on the Music Industry
27:33 Part Two
28:38 Diving into the Music Industry's Hype
30:08 Constructive Criticism in Emerging Technologies
30:39 The Metaverse and NFTs: A Skeptical View
31:28 Frameworks for Assessing New Technologies
33:10 The Future of Digital Fandom
35:15 Bifurcation in the Market
43:07 Pendulum Swings in Technology Adoption
44:54 Lessons from the Aviation Industry
46:29 Final Thoughts and Predictions
52:00 Credits
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Podcasts are having another moment: Trump on Joe Rogan, Kamala on Call Her Daddy. New media is overtaking old media in audience and influence. Back in early 2023, we welcomed guest Lauren Jarvis, who helped bring Rogan to Spotify and growing podcasts into the medium we see today. Given this week’s election mania, we bring Lauren back to make sense of it all.
For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com
You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/
More on Will Page at: https://pivotaleconomics.com
(Times below correspond to the episode without considering any inserted advertisements.)
The Podcast Boom: Analyzing Influence and the Future of Media
In this episode of Bubble Trouble, hosts Richard Kramer and Will Page delve into the evolving landscape of the podcast industry with guest Lauren Jarvis. They discuss the resurgence of podcasts as a significant media platform, touching on notable examples like Joe Rogan's recent Trump interview. The conversation also covers the economic potential of podcasts, their role in reaching new audiences, and the gamification of learning as a growing trend in tech. Jarvis shares insights on the integration of technology into daily life and the future of media consumption.
00:00 Introduction to Bubble Trouble
00:59 Part One
02:52 Political Influence of Podcasts
05:26 Audience Engagement and Monetization
09:09 The Future of Media Consumption
22:11 Part Two
22:13 Tech Trends and Predictions
37:46 AI and Data Utilization
46:12 Closing Thoughts and Farewell
48:33 Credits
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Repeat from November, 2023.
For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com
You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/
More on Will Page at: https://pivotaleconomics.com
In this episode of Bubble Trouble, hosts Richard Kramer and Will Page engage in an in-depth discussion with Alex Kantrowitz, veteran tech journalist and founder of Big Technology. The discussion provides insights on some of the issues and dilemmas facing Twitter (now called X) under the leadership of Elon Musk. Kantrowitz offers valuable perspectives on the changing dynamics in the tech world, touching on the rise of Reddit, problems with 'Threads', and the impact of new leadership on Twitter's performance and brand value. The conversation also delves into the principle of 'Effective Altruism' prevalent in Silicon Valley and what it signifies about tech leadership. Analysis of recent data reveals Twitter's shrinking user base and engagement, though it remains a highly popular app. The episode wraps with Kantrowitz sharing about his newsletter 'Big Technology', and its recent features.
00:00 Introduction and Welcome
00:46 Part One
00:52 Interview with Tech Journalist Alex Kantrowicz
02:17 Exploring Twitter's History and Business Model
06:52 Twitter's Influence and Impact on Journalism
07:32 The Decline of Traditional Media and the Rise of Digital Platforms
08:45 Twitter's Role in the Attention Economy
09:54 Twitter's Popularity and Influence Despite Declining Numbers
15:06 Analyzing Twitter's User Data and Trends
28:47 Part Two
32:37 The Future of Twitter: Cyclical or Structural Decline?
36:26 Twitter's Competition: Reddit and Threads
36:34 The Struggles of Threads
36:59 The Power of Network Effects
38:17 The Limitations of Threads
39:48 The Rise of Reddit
40:04 The Role of Reddit in the Social Media Landscape
40:54 The Impact of Pocket App on Twitter
41:25 The Irrelevance of Threads and the Power of Meta
44:20 The Challenges Twitter Faces
45:50 Potential Strategies to Save Twitter
49:32 The Future of Twitter Under Musk's Leadership
54:51 The Role of Effective Altruism in Tech Companies
58:57 The Danger of Singular Solutions
59:27 The Value of Comments and the Future of Twitter
01:01:38 Closing Remarks and Promotion of Big Technology
01:02:34 Credits
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The past week has seen US stocks–and gold, btw–rally to record highs. This week, we’re going to apply the magnifying glass to the ‘Magnificent Seven’ that are driving this rally and ask what happens when the sheer size of these US corporations, or corporate value, starts to overtake individual European stock markets. That’s right - any one of these US companies are worth more than British or German capitalism. With an election on the horizon, time to figure out what this all means.
For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com
You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/
More on Will Page at: https://pivotaleconomics.com
(Times below correspond to the episode without considering any inserted advertisements.)
Bubble Trouble: Giants of Global Markets and Economic Quandaries
In this episode of Bubble Trouble, Richard Kramer and Will Page explore the dominance of the 'Magnificent Seven' US corporations in the recent stock market rally and their comparison to European markets. They discuss the significant influence of American tech CEOs versus their European counterparts, global lobbying efforts by big tech, and the economic impact of major tech product launches like Apple's iPhone 16 on UK retail sales. The episode analyzes the UK's economic challenges, governmental budget constraints, and tax policy trade-offs, including the freezing of tax thresholds. The hosts delve into the broader societal and economic consequences of media monopolies, infrastructure investments, and the peculiarities of contemporary political landscapes.
00:00
00:00 Introduction
00:55 Part One
01:00 Feedback and OpenAI Discussion
02:41 The Magnificent Seven: US Companies vs. European Markets
04:29 Comparing Market Values
07:26 Future Projections and Power Dynamics
12:50 European Response and Regulatory Challenges
15:49 Investment Strategies and Market Resilience
18:21 Retail Sales and Apple's Influence
19:30 Part Two
19:30 UK's Economic Challenges and Government Budget
22:19 Tax Policies and Fiscal Strategies
30:18 The Impact of Media and Big Tech
35:29 Concluding Thoughts and Audience Engagement
36:49 Credits
Hosted on Acast. See acast.com/privacy for more information.
We thought we’d get a little political on this week’s show. Are we serving up a bubble that was a landslide UK election, or is the new government trouble a bubble? And we want to deconstruct Will’s Pessimism Paradox as it applies to the place we most often seen bubbles, in high finance where the less certain the outcomes to higher the markets go.
For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com
You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/
More on Will Page at: https://pivotaleconomics.com
(Times below correspond to the episode without considering any inserted advertisements.)
Deconstructing Economic Pessimism in the Wake of a New Government
In this episode of Bubble Trouble, hosts Richard Kramer and Will Page discuss the political and economic landscape in the UK following the first 100 days of a new government. They analyze the concept of political and economic bubbles, questioning whether pessimism dominates current narratives. The discussion spans issues like the impact of the cloud on GDP measurement, tax policies, and the importance of attracting talent over traditional economic metrics. The hosts also delve into the role of economists’ outlooks during different economic conditions. The episode underscores the significance of focusing on new strategies and the long-term impact of political decisions, highlighting the government and economic system's current challenges.
00:00 Introduction to Bubble Trouble
00:44 Part One
00:50 Analyzing the New Government's First 100 Days
03:56 The Pessimism Paradox Explained
14:13 Debating Economic Growth and GDP
18:59 Part Two
19:19 Tax Policies and Economic Challenges
25:23 The Talent Competition and Immigration
28:57 Reflections on Political Labels and Strategy
32:47 Conclusion and Listener Engagement
33:25 Credits
Hosted on Acast. See acast.com/privacy for more information.