Money For the Rest of Us

Where Are We Heading?

Podcast: Play in new window | Download

In this episode, we explore what it means to invest in a non-ergodic world—where time, not averages, determines outcomes. We unpack concepts like volatility drag, ensemble vs. time averages, and the implications for portfolio strategy, while also reflecting on how AI and zero-click search are reshaping business and investor behavior.

Topics covered include:

• What is ergodicity and why it matters
• How path dependency and emerging phenomena disrupt the long-term
• How podcasting and blogging has changed
• What is the future of Money for the Rest of Us

Episode Sponsors

NetSuite 

LinkedIn Jobs – Use this link to post your job for free on LinkedIn Jobs

Insiders Guide Email Newsletter

Get our free Investors’ Checklist when you sign up for the free Money for the Rest of Us email newsletter

Our Premium Products

Asset Camp

Money for the Rest of Us Plus

Show Notes

Wayback Machine: jdstein.com

Probabilities and Payoffs: The Practicalities and Psychology of Expected Value by Michael J. Mauboussin and Dan Callahan, CFA—Morgan Stanley

The Black Swan: The Impact of the Highly Improbable by Nassim Nicholas Taleb—Penguin Random House

The 60% Problem — How AI Search Is Draining Your Traffic by Tor Constantino, MBA—Forbes

Hollywood Is Cranking Out Original Movies. Audiences Aren’t Showing Up. by Ben Fritz—The Wall Street Journal

How Late Night TV Is Downsizing by Alex Weprin and Rick Porter—The Hollywood Reporter

‘Severance’ Surpasses ‘Ted Lasso’ To Become Apple TV+’s Most Watched Series With Season 2 Launch by Nellie Andreeva—Deadline

List of most watched television broadcasts in the United States—Wikipedia

Tao te Ching by Lao Tzu (Author), Marc Mullinax (Translator)—fortress press

Why AI Might Not Take All Our Jobs—If We Act Quickly by Justin Lahart—The Wall Street Journal

Elon Musk and the Dangerous Myth of Omnigenius by Gautam Mukunda—Bloomberg

Related Episodes

492: The Power of Optionality: Small Bets, Big Payoffs

484: 7 Steps to Living a Longer Life

482: Unlocking the Power of Positive Skewness: Strategies for Investing, Business, and Creativity

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

More Great Podcasts:

Reacting To The Entire Idubbbz Content Cop - H3 Show #137

Learn more about your ad choices. Visit megaphone.fm/adchoices ... Read more

NBA-NHL Playoffs Begin

Teams from the NBA and the NHL will begin competing for their respective championships today. #NBA #NHL Learn more about your ad choices. Visit podcastchoices.com/adchoices... Read more

Coolest Classics - “The Fighter” w/ Christian Bale 

“Sometimes there’s a film… I won’t say a masterpiece, ‘cause what’s a masterpiece? But sometimes there’s a film. And I’m talkin’ about “The Fighter” here.... Read more

Bob Burns: Easter Show (AWR0271)

In an Easter program with Spike Jones and his orchestra is an Arkansas Traveler sketch, in which the Traveler is asked to judge an Easter... Read more

Full ‘Real Ones’ NBA Playoff Preview! Who Has the Most to Gain From Playoff Success?

The NBA playoffs will begin Saturday after Friday’s play-in games wrap up. Logan, Howard, and Raja give their thoughts and predictions for what will happen... Read more

“Slap The S*** Out Of Tom Brady” Karlous Miller CALLS OUT Stephen A & Tom Brady And Has Shaq Dying

On today's episode of The Big Podcast w/ Shaq we welcome Comedy Legend Karlous Miller! Together he and Shaq roast Stephen A, call out Tom... Read more

Antwaan Randle El on setting the tone | Bears Weekly

Bears wide receivers coach and assistant head coach Antwaan Randle El joins Jeff Joniak, Tom Thayer and Jim Miller on Bears Weekly to share insights... Read more

Trevor Noah DEFENDS Church, Gen Z Finds Jesus, Christianity Is Growing

Download Audio... Read more

Celebrity Jobber with Jeff Zito - Warren Haynes

Celebrity Jobber with Jeff Zito presents a special Best Of Episode as we replay the memorable show from '22 featuring Warren Haynes, renowned guitarist and... Read more

Older posts