This week, Byrne Hobart and Erik Torenberg discuss a lesser-known Chamath Palihapitiya story, the index rebalancing trade as a postmodern part of finance, AI labs, crypto, and more. beehiiv: Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months. Byrne Hobart is hiring an associate! Check out the JD here: https://www.thediff.co/jobs/ 🔥 Apply to join over 400 founders and execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj --- SPONSORS: BABBEL: 🌐 Ready to achieve your 2024 goals? Start learning a new language with Babbel in just three weeks. Enjoy app lessons, live classes, and podcasts designed for real-world conversations. Get up to 60% off at https://babbel.com/torenberg BEEHIIV: Head to beehiiv, the newsletter platform built for growth, to power your own. Connect with premium brands, scale your audience, and deliver a beautiful UX that stands out in an inbox. 🐝 Head to https://beehiiv.com and use code "MOZ" for 20% off your first three months --- RECOMMENDED PODCAST: Patrick McKenzie (@patio11) talks to experts who understand the complicated but not unknowable systems we rely on. You might be surprised at how quickly Patrick and his guests can put you in the top 1% of understanding for stock trading, tech hiring, and more. Spotify: https://open.spotify.com/show/3Mos4VE3figVXleHDqfXOH Apple: https://podcasts.apple.com/us/podcast/complex-systems-with-patrick-mckenzie-patio11/id1753399812 --- TIMESTAMPS: (00:00:00) About the Show (00:00:20) Chamath, IAC, and Tinder (00:16:20) Sponsors: Babbel | Beehiiv (00:18:54) Chamath continued (00:18:54) Twitter, Threads (00:22:40) Twitter, Twitch (00:24:12) Twitter, API (00:28:37) Meme coins (00:32:10) The postmodernity of index rebalancing trades (00:35:37) S&P 500 inclusion and exclusion (00:40:52) Crypto, AI, and the Zeitgeist (00:42:14) Crypto (00:46:55) AI Labs (00:49:35) Why is it money intensive and talent intensive? (00:53:59) What should people study in college? (00:59:24) Byrne is hiring an associate! (01:02:13) Outro --- LINKS: Byrne’s writing: https://thediff.co --- X / TWITTER: https://twitter.com/eriktorenberg (Erik) https://twitter.com/ByrneHobart (Byrne) https://twitter.com/TurpentineMedia (Turpentine)