Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work  By  cover art

Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work

By: Magnificent Noise x Richard Kramer x Will Page
  • Summary

  • Bubble Trouble features conversations between economist and author Will Page and independent analyst Richard Kramer that lay out some inconvenient truths about how financial markets really work. Like the “boy who cried wolf,” financial markets have a peculiar tendency to repeat past mistakes and get themselves into “bubble trouble.” They party hard, drink too much of the Kool Aid, and wake up with a pounding hangover...only to do the same thing the next day. With tech dominating daily headlines and teenage traders driving stocks to unprecedented valuations, you might be asking “What’s really going on?” “What am I missing?” Imagine having a set of tour guides to tell you the “story behind the story” of the world’s largest tech companies, and how they bend - or break - the rules of economics.

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    Copyright Magnificent Noise
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Episodes
  • Fiscal Drag Queen
    Mar 25 2024

    This week, we’re talking taxes. Don’t switch off, don’t fall asleep and please don’t hire an accountant as the next 45 minutes will defy the laws of gravity and make taxes sexy. Or make saxes testy…


    Mentioned in today’s show: Barbarians at the Gate: https://youtu.be/Z3HiONtjZSM?si=xZ64zb46sYIfSs5Z


    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 engaging episode of Bubble Trouble, hosts Richard Kramer and Will Page explore the complex world of taxes with humor and depth. They discuss the UK's tax system, the incentives it creates, and its contribution to economic inequalities. The duo delves into the problems of the tax code, including issues surrounding tax avoidance by the wealthy, lack of public sector productivity improvements, and the inefficiencies within the HMRC. Kramer and Page critique the approach of privatizing public utilities and the potential problems with private equity in the public sector. They also touch on broader issues like the lack of investment in tax authority systems and propose using tax policies for positive changes, like encouraging the shift from petrol to electric cars in Denmark. Through their insightful conversation, Kramer and Page aim to demystify taxes and highlight their significant impact on society.


    00:00 Introduction

    00:46 Part One

    00:51 The UK's Budget Week and Tax System Insights

    01:48 Tax Evasion vs. Public Sector Productivity

    02:46 The Inequality of Tax Codes: A Global Issue

    04:03 Tax System Flaws and Their Impact on Society

    07:22 VAT: The Taxpayer as Tax Collector

    11:31 The Complexity of National Insurance

    13:43 Simplifying Tax Systems: A Call for Transparency

    16:28 Private Equity and Tax Systems: A New Challenge

    22:39 Decoding the Fiscal Drag Queen

    23:00 The Political Divide on Taxation

    23:21 Economic Lecture: Tax Burden and Growth

    25:07 The Impact of Fiscal Drag on Tax Bands

    26:15 The Surprising Windfall from Fiscal Drag

    27:22 Part Two

    27:45 Exploring the World of Private Equity

    28:51 The Tax Loopholes Fueling Private Equity

    32:24 The Potential Bubble in Public Utilities

    36:26 The Disconnect Between Tax Policy and Reality

    43:58 A Positive Tax Example from Denmark

    47:28 Credits



    Hosted on Acast. See acast.com/privacy for more information.

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    48 mins
  • Reddit and Weep
    Mar 18 2024

    So let's look forward and prepare you for the next big sexy blockbuster tech IPO, you’ve read all about it - that’s right. Reddit is going to ring the bell.


    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.)

    Reddit's IPO Adventure: A Deep Dive into Valuations, Trends, and Future Prospects


    In this episode of Bubble Trouble, hosts Richard Kramer and Will Page dissect Reddit's impending IPO, examining its valuation, user base, and revenue streams. The podcast begins with a discussion on the evolution of Reddit and its business model, focusing on the challenges it faces as a business primarily driven by advertising revenue in a competitive digital advertising landscape. Kramer and Page delve into the nuances of Reddit's user engagement and its niche position in the internet culture, juxtaposing it against giants like Meta and Google. They critically analyze the hype surrounding tech IPOs, emphasizing Reddit's $800 million revenue and its struggle to become profitable amidst a sprawling digital advertising world. The episode also covers the broader implications of down rounds and the valuation bubbles that tech companies often face. Through expert insights and a candid conversation, the episode offers a comprehensive view on Reddit's IPO, the tech industry's valuation practices, and what the future holds for user-generated content platforms.


    00:00 Welcome to Bubble Trouble: DeepFakes and Bubbles

    01:02 Part One

    01:06 The Fascinating Shift from Hong Kong to Singapore

    02:52 Reddit's Upcoming IPO: A Deep Dive

    03:25 Exploring Reddit's Niche and Financials

    06:04 The Cultural Impact and Controversies of Reddit

    08:58 Reddit IPO Strategies and User Dynamics

    10:43 Inside Reddit: Culture, Compliance, and Future Prospects

    16:00 Part Two

    16:00 South by Southwest Festival Insights

    20:04 Back to Reddit: IPO Details and Expectations

    21:22 Technical Difficulties and Starting Off

    21:24 Exploring Down Rounds: A Deep Dive

    23:48 The Reality of Valuations and Market Corrections

    24:42 Tech Companies' Valuations Post-Pandemic

    25:41 Reddit's Revenue Diversification and Data Deals

    27:15 The Creator Economy: Expectations vs. Reality

    29:48 Reddit's IPO: A Case Study in Market Dynamics

    34:49 Smoke Signals for Future IPOs

    38:21 Reflecting on Reddit and the IPO Landscape

    40:20 Credits



    Hosted on Acast. See acast.com/privacy for more information.

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    41 mins
  • Browser Wars: Brave vs. Goliath
    Mar 11 2024

    When looking at today's issues of privacy, social media, and AI, we can draw a lot from the battles of the browsers over the past 30 years. To explore this, we welcome a close friend onto the show, the father of JavaScript and a Silicon Valley legend, Brendan Eich. Brendan left the CTO role of Mozilla firefox years ago and embarked on a journey to scale up a privacy-first browser and search business that would reward the sites you visit with a token reflecting your attention and value. (Repeat from July, 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

    (Times below correspond to the episode without considering any inserted advertisements.)


    Navigating the AI Hype: Lessons from a Tech Visionary


    In this episode of Bubble Trouble, independent analyst Richard Kramer and economist-author Will Page engage in a rich conversation with Brendan Eich, the creator of JavaScript and a Silicon Valley legend. They delve into the intricacies of the tech industry, exploring AI developments, privacy issues, and the history of browser wars. Eich discusses his journey from Netscape to founding Brave, a privacy-first browser and search business, sharing insights on big tech’s strategies, the pitfalls of surveillance capitalism, and the nuances of rewarding creators in the digital age. Furthermore, the trio critiques current AI hype, discussing its implications for the tech ecosystem and underlining the interplay between technological innovation and user empowerment.


    00:00 Welcome to Bubble Trouble

    00:59 Part One

    03:03 Tackling Surveillance Capitalism and the Creator Economy

    06:24 Privacy, Policy, and the Power of User-First Philosophy

    12:29 The Evolution of Browser Wars and the Role of Regulation

    24:06 Part Two

    24:10 AI's Potential to Disrupt Big Tech's Dominance

    25:28 AI Models and Data Quality Challenges

    26:24 The Impact of AI on Content Creation and Privacy

    27:06 Economic Foundations and the Strategy Tax in Tech

    30:55 The Power of Defaults and Consumer Choices

    36:33 Regulating AI: Industry Perspectives and Challenges

    39:07 The Future of Translation and AI's Role

    44:00 Navigating the Hype: AI Investments and the Reality

    47:10 Closing Thoughts on AI, Privacy, and the Future of Tech

    47:48 Credits



    Hosted on Acast. See acast.com/privacy for more information.

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    48 mins

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