Episodios

  • #40 - Hassan Haider : The MENA Golden Age is Here : From Angel Bets to Billion-dollar IPOs

    #40 - Hassan Haider : The MENA Golden Age is Here : From Angel Bets to Billion-dollar IPOs
    Sep 13 2025

    We’re joined by Hassan Haider, founder and managing partner at Plus VC, one of the most active early-stage VCs in the Middle East and North Africa (MENA), with nearly 100 investments since 2020 and the #1 ranked venture investor in the region (according to Forbes). From pre-seed investing across MENA to the evolution of regional stock markets and secondary exits, Hassan brings a front-row view of how the region’s startup ecosystem has transformed—and where it’s headed next. As a pioneer of early angel networks and a long-time ecosystem builder in Bahrain, he breaks down what’s working, what’s not, and what founders need to thrive in MENA’s rapidly maturing tech scene. We dive into: -Why MENA is one of the best startup investment opportunities globally -What differentiates successful founders in the region -Why regional VCs avoid multi-stage plays and focus early -How to navigate regulatory setups, capital scarcity, and cross-border expansion -Exits in MENA: From secondaries to IPOs on the Saudi Exchange -What the rise of AI, crypto, and sovereign capital means for the region’s future Key Takeaways from the Episode: 1.⁠ ⁠MENA’s Startup Ecosystem Has Reached an Inflection Point: Governments, corporates, and investors are now actively building a robust tech infrastructure. Bahrain, Saudi Arabia, and the UAE are emerging as regional tech hubs with improving regulatory support and liquidity pathways. 2.⁠ ⁠Execution > Pedigree: In a region where signals like elite universities don’t always apply, Plus VC backs founders who get things done. The strongest predictor of success is a “bias towards execution,” not resumes. 3.⁠ ⁠Valuations Are Low, Returns Are High: While the total VC capital is still small compared to the West (~$3B across all of MENA), early-stage funds in the region are consistently outperforming global medians, with many aiming for 3–5x returns. 4.⁠ ⁠Secondary Exits Are Thriving: Unlike the US, where secondaries are restricted, MENA has an active secondary market. Later-stage investors often buy out seed investors, allowing early funds to lock in strong multiples well before IPO. 5.⁠ ⁠IPOs on Local Exchanges Are Growing: Saudi Arabia and the UAE are now viable IPO markets for startups, often offering better liquidity and valuation premiums than NASDAQ. Companies are lining up for public listings across the region. 6.⁠ ⁠Startups Are Expanding Globally: From food delivery startups like Kcal (Kcal Extra) to SaaS players like Gameball and Appetito, MENA-born companies are increasingly going global, not just serving the region. 7.⁠ ⁠Not Just Copycats: While some startups are local versions of global models, many others are building unique products tailored for MENA or solving global problems from within the region. 8.⁠ ⁠AI & Crypto Adoption in MENA is Growing: From Arabic LLMs like DXWand to early investments in Rain (crypto exchange backed by Coinbase), MENA is developing its own innovation layers while leveraging global open-source models. 9.⁠ ⁠Challenges Remain – Especially Capital Availability: Despite sovereign wealth, there’s still limited local LP participation in regional funds. Much capital still flows to the US or goes into traditional sectors like real estate. 10.⁠ ⁠What Makes Startups Fail in MENA: The most common reasons? Lack of execution or inability to raise follow-on funding in non-mainstream sectors. Hassan emphasizes: fundraising ≠ success—building a viable business does. Timestamps: (00:00) – Introduction to Hassan and Plus VC (01:20) – Pre-seed in MENA vs the West: Why the definitions differ (02:30) – How involved Plus VC is with 100+ portfolio companies (05:25) – What Plus VC looks for in a founder: Execution > pedigree (08:10) – Evolution of the MENA startup ecosystem over 15 years (11:20) – How exits happen: secondaries, IPOs, and growing liquidity (13:45) – Regulatory environment and setting up in the MENA region (18:10) – Are startups just Western clones or globally competitive? (19:20) – Examples of MENA startups going global (Kcal, Gameball, Appetito) (21:00) – Regional expansion and why localization matters (23:00) – Challenges: capital scarcity and early-stage risk in MENA (25:45) – Fund returns in MENA vs Silicon Valley (29:30) – Plus VC’s approach to AI startups and LLM integrations (30:15) – Open-source AI models and building Arabic LLMs (32:35) – The role of PIF, G42, and strategic AI trade deals (33:00) – Crypto ecosystem in MENA: Rain, regulation, and adoption (33:30) – 2040 vision: What MENA’s startup ecosystem will look like (34:30) – Final advice to MENA founders: focus on value creation, not hype
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    38 m
  • #39 - Tomicah Tillemann : The Internet Is Broken - Here's How To Fix It

    #39 - Tomicah Tillemann : The Internet Is Broken - Here's How To Fix It
    Aug 22 2025

    We’re joined by Tomicah Tillemann, former U.S. State Department official and President of Project Liberty, for a conversation on the entrenched problems of the Internet and how to rebuild it from the ground up with digital rights, sovereignty, and decentralization at its core.

    Tomicah has spent decades working on governance, blockchain innovation, and digital infrastructure. As a key architect behind the Decentralized Social Networking Protocol (DSNP) and the Frequency blockchain, his mission is to restore agency, trust, and dignity to the digital public square.

    We dive into:

    -Why today's internet operates like a digital feudal system and how to break free

    -The rise of the attention economy vs. the potential of an "intention economy"

    -How Project Liberty's Frequency infrastructure is helping millions regain control of their data

    -The People's Bid to acquire TikTok and what it means for platform ownership

    -Why AI agents must serve individuals not corporations

    -Lessons from blockchain land registries, data scraping lawsuits, and digital identity

    Key Takeaways from the Episode:

    1. The Internet Is Broken by Design: Big platforms dominate because they've captured our data and social graphs. Tomicah argues this has led to a neo-feudal internet where users generate value but own nothing.

    2. The Path to Digital Sovereignty Starts with Shared Infrastructure: Through DSNP and Frequency, Project Liberty is building a protocol layer where users control their identities and data, independent of any platform.

    3. Attention Economy vs. Intention Economy: We’re fed content designed to addict us. What if platforms instead let us define what we want and curate our own algorithms?

    4. Why Project Liberty Could Transform TikTok: If successful in acquiring TikTok, Tomicah’s team would migrate 170M users onto Frequency, allowing data portability, shared economic upside, and participatory governance.

    5. AI Agents Should Work for Us, Not Big Tech: Like Kurt Flood challenging MLB’s reserve clause, Tomicah believes users deserve AI agents that act as fiduciaries, not surveillance tools.

    6. Open Models Must Be Paired with Compensation: Even when AI scrapes public data, individuals should benefit economically. New systems can recognize digital labor and creativity.

    7. Blockchain Still Holds Real-World Potential: From land registries to stablecoins, decentralized tech offers breakthrough solutions, especially in emerging markets where institutions are weak.

    8. Decentralized Identity Is Key to Truth: In an AI-saturated world, verifying authenticity is critical. Frequency lets posts be cryptographically validated without storing full data on-chain.

    Timestamps:

    (01:53) – What’s wrong with the internet? A history of digital feudalism

    (04:11) – Network effects and the value users create but never capture

    (07:03) – Shared social graphs vs. platform monopolies

    (09:00) – Why platforms manipulate us: inside the attention economy

    (10:32) – Designing an intention-based digital experience

    (15:13) – What Frequency is and why millions are using it

    (18:35) – How Frequency enables social graph portability for developers

    (19:20) – Comparing DSNP to other decentralized networks (e.g. BlueSky)

    (22:19) – The good and bad of LLMs—and how to steer them responsibly

    (27:51) – Should OpenAI pay us for using our data? A digital labor argument

    (29:34) – Why we need AI agents that act as fiduciaries (31:43) – What a decentralized TikTok would look like (31:55) – Governance, monetization, and the shift to user ownership (35:19) – Blockchain for land titles: a Global South use case (37:55) – Why stablecoins are money for the internet (39:01) – Identity and authenticity: how Frequency verifies truth online (41:38) – Rating U.S. crypto policy: regulation, innovation, and FTX fallout
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    45 m
  • #38 - James Currier : Why Network Effects Are the Hidden Architecture of Civilization

    #38 - James Currier : Why Network Effects Are the Hidden Architecture of Civilization
    Jun 27 2025
    We're joined by James Currier who explains how ‘network effects’ shape our economies, tech, civilisation and how to master that to our advantage. James is a five-time Founder, an angel investor in DoorDash, Lyft, and Patreon, and a Founding Partner at NFX. Before becoming an investor, James was the co-founder and CEO of Tickle, one of the internet's first successful user-generated companies. From Metcalfe’s Law to the rise of AI-powered startups, we explore how the invisible laws of networks explain why some companies scale exponentially while others fade out and why understanding these forces is key to building anything lasting in the 21st century. James has backed some of Silicon Valley’s most iconic startups and coined frameworks that are now industry standards. From early internet marketplaces to AI agents and Web3 protocols, his insights map out how startups win by designing for virality, defensibility, and system-level scale. We dive into: • The 17 types of network effects; from marketplaces to expertise networks, and how to build them into your product. • The collapse of traditional moats in the digital age and what defensibility means in the era of AI. • Why companies like OpenAI and Salesforce are embedding themselves into users’ lives to build lasting leverage. • The rise of “3-person unicorns” and how AI is accelerating startup formation and shrinking team sizes. • How founders can think about viral growth in a world where old playbooks (like Craigslist hacks) no longer work. • Lessons from failure: why even with network effects, execution is everything. • What AI bubbles mean for value creation and why James loves them. • How to survive and thrive in a noisy world: hitting it hard, identifying “technology windows,” and creating high-leverage product experiences. Key Takeaways from the Episode: 1. Network Effects Are the New Physics of Business: James breaks down why 70%+ of value in tech comes from companies that embed network effects and why founders need to build products that get stronger with every new user. 2. 17 Distinct Types of Network Effects: From classic telephone lines to software platforms and even Toyota’s repair ecosystem, we explore the taxonomy of modern network effects, including marketplace, platform, expertise, and embedding effects. 3. Defensibility in the AI Era: With generative AI becoming a commodity, the real moat is not the model but embedding, data ownership, and network density. OpenAI’s memory feature, for example, is a classic embedding play. 4. How Salesforce, Uber, and Facebook Reinforce Their Moats: Learn how these giants layered multiple defensibilities scale, brand, embedding, and networks to dominate their markets. 5. The “Technology Window” Model: Massive companies are born not from marketing innovation but from catching the right tech wave just as we saw with the internet, social media, and now AI. 6. What Most Founders Get Wrong About Virality: It’s not about shouting louder, but about building value that spreads organically through “shrew-like” constant motion experimenting, iterating, and finding attention before the channel closes. 7. The Rise of AI-Native Companies: The best startups of the 2020s will be “AI-first,” doing with 3 people what used to take 300 reshaping business models, hiring, and even venture capital itself. 8. Why Founders Must Love the Craft, Not Just the Exit: Great companies are built by people obsessed with the product and the mission not just chasing valuation multiples. Follow our host on Linkedln to know more or subscribe to our emailing list to get new episodes directly into your inbox. Timestamps: (00:00) – Introduction to James Currier and the importance of network effects (02:15) – Metcalfe’s Law, Reed’s Law, and why networks explain society (04:05) – How 70%+ of tech value comes from network effects (07:50) – The 17 types of network effects (and why expertise matters) (12:20) – How Salesforce embedded defensibility through platform strategy (16:55) – Investing in businesses that build network effects (18:45) – Network effects vs. AI commoditization: what really matters (23:05) – Why defensibility is about product strategy, not hype (27:30) – The coming wave of “3-person unicorns” (31:00) – Will UBI be necessary? James predicts capitalism will adapt (34:00) – How product quality = speed to value (not just shipping fast) (36:30) – The evolution of viral growth tactics in a noisy world (40:45) – The “technology window” thesis: where real leverage comes from (44:20) – Thoughts on crypto, Web3, and reinventing finance (46:10) – What motivates great founders (hint: it’s not money) (49:00) – James’ advice to young people on STEM, self-awareness, and emotional intelligence
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    52 m
  • #37 - Ravi Ramamurti : Reverse Innovation Secrets: How Emerging Economies Are Out-Innovating The West

    #37 - Ravi Ramamurti : Reverse Innovation Secrets: How Emerging Economies Are Out-Innovating The West
    May 23 2025
    We’re joined by Professor Ravi Ramamurti, founder and director of the Center for Emerging Markets at Northeastern University in Boston, who’s one of the world’s leading experts on innovation in emerging economies. Professor Ramamurti who along with his co-author coined the term ‘reverse innovation’ — the phenomenon where innovation flows not from West to East, but from developing countries upward into wealthier markets. In this wide-ranging conversation, he challenges long-held assumptions about who innovates, how innovation spreads, and what lessons emerging markets are teaching the world. We dive into: How reverse innovation has become a mainstream force, from portable ultrasounds to healthcare delivery models.What made India’s hospitals 90% cheaper than the U.S. while matching quality.The rise of China as a global innovation leader in EVs, solar, AI, and biotech.How internal competition and STEM education give China an edge.What separates emerging market multinationals from their Western counterparts.Why globalization might retreat in the West but accelerate across the Global South.The role of business model innovation, not just technical R&D, in driving growth.What policymakers in emerging economies should focus on to unlock innovation. This episode is part of the Emerging Market Innovation Series, created in collaboration with Strategic Counsel, and also features Hafidzi Razali, founder and CEO of Strategic Counsel. Key Takeaways from the Episode: 1.⁠ ⁠Innovation Is Reversing Direction: Emerging markets are no longer just catching up—they’re now originating impactful innovations that reshape global industries. 2.⁠ ⁠Business Model Innovation Matters: From mobile payments to frugal healthcare, the biggest breakthroughs often come not from new tech, but from rethinking cost and access at scale. 3.⁠ ⁠China Is Now a Global Innovation Engine: Whether it’s batteries, solar, AI, or pharmaceuticals, China is leading with original ideas—not just copycat models. 4.⁠ ⁠Internal Competition Fuels Innovation: China’s provinces, companies, and universities are in constant competition, making it one of the most dynamic innovation ecosystems in the world. 5.⁠ ⁠Emerging Market MNCs Start Differently: Unlike Western firms built on tech superiority, EMNCs often scale through local problem-solving, cost innovation, and process excellence. 6.⁠ ⁠Don’t Underestimate South-South Trade: As Western markets close, emerging markets may open up to one another, forming a new kind of globalization led from the Global South. 7.⁠ ⁠Innovation Needs State Support — and Deregulation: Countries need smart deregulation, investment in human capital, and openness to global ideas to create fertile ground for local innovation. 8.⁠ ⁠The AI Era Will Shake Up Everything: Professor Ramamurti shares early thoughts on how AI could redefine software economies like India’s and change the geography of work. (00:00) - Intro (01:39) - What is Reverse Innovation? (02:55) - What sparked Europe’s rise in the 19th century—and is the West now in decline? (09:35) - Examples of Reverse Innovation (14:10) - What are some original innovations from emerging economies that led global trends? (17:01) - Why are business model innovations just as critical as technical breakthroughs? (18:15) - Is China still reliant on Western education for innovation, or has it built its own R&D ecosystem? (20:17) - Do emerging economies need to copy before they can truly innovate? (22:49) - Is local competition between Chinese municipalities driving the country’s innovation boom? (25:53) - Is China’s tech dominance threatening local industries in Southeast Asia? (28:01) - What makes emerging market multinationals (EMNCs) different—and potentially better—than Western MNCs? (30:31) - As labor costs rise, how can China and emerging economies stay competitive in manufacturing? (32:26) - Can Latin America rise to global tech prominence like China—and what stands in its way? (34:06) - Are Latin American governments investing in local innovation like East Asian state-owned giants do? (35:41) - What should emerging market policymakers do to spark innovation and global competitiveness? (37:38) - How should emerging markets innovate in a world moving away from globalization and free trade? (40:37) - Is globalization making rich countries lose their edge while manufacturing hubs gain design power? (43:38) - What groundbreaking research is coming out of the Center for Emerging Market Studies at Northeastern University? (45:52) - Outro Join us for a powerful and myth-busting discussion with Professor Ravi Ramamurti as we explore the next chapter of global innovation from the perspective of the rising world. Follow our host on Linkedln to know more or subscribe to our emailing list to get new episodes directly into your inbox.
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    46 m
  • #36 - George Sivulka : Knowledge Work 2.0: The Company Creating The Multi-Agent Future

    #36 - George Sivulka : Knowledge Work 2.0: The Company Creating The Multi-Agent Future
    Apr 26 2025
    We’re joined by George Sivulka, Founder and CEO of Hebbia, for a conversation on how does the future of white collar work look like with multi-agents. Hebbia is backed by some of the most legendary technology investors of our generation including Peter Thiel (early investor: Paypal, Facebook), Marc Andreesen (early investor: Airbnb, Github, Coinbase), Eric Schmidt (ex-CEO Google), Jerry Yang (Co-founder Yahoo). George’s background from Stanford’s PhD program, combined with his work at the cutting edge of AI meta-learning, has led him to a bold mission: to build Hebbia into a generationally important company that captures the full power of the AI revolution, not through chatbots, but through entirely new interfaces for serious, complex work. We dive into: What does the future of white collar/knowledge work look likeWhat the future UX/UI of Agentic AI might be (beyond chatbots).How Hebbia uses multi-agent orchestration to tackle tasks like investment research, drug discovery, and complex analysis.How Hebbia solves hallucination by "citing first, generating second."Why George believes AI won't eliminate jobs, but will transform how we work—and why humans will always find new ways to create value.The lessons George has learned from investors like Peter Thiel and Eric Schmidt about building great companies. We also discuss deeper trends like the geography of AI data centers, the future of inference scaling laws, and why the real competitive advantage won't be technology alone — but taste, orchestration, and human-AI collaboration. Key Takeaways from the Episode: 1.⁠ ⁠Chatbots Are Just the Beginning: George explains why chat is a weak UI for serious work—the future will be spreadsheet-like, matrixed, and human/agent collaborative. 2.⁠ ⁠Multi-Agent Orchestration is Key: Hebbia focuses on orchestrating many AI agents and humans together to handle truly complex, multi-hop tasks across domains. 3.⁠ ⁠Hallucination-Free AI: Hebbia flips the model—retrieving and citing information first, then generating outputs—to ensure accuracy and trust in critical workstreams. 4.⁠ ⁠AI Will Augment, Not Replace Humans: Work will shift from purely human to hybrid models, with humans and AI agents collaborating fluidly rather than one replacing the other. 5.⁠ ⁠Taste and Human Judgment Will Matter More Than Ever: As software creation becomes ubiquitous, taste, creativity, and judgment will be the new moats for great companies. 6.⁠ ⁠The Importance of Geopolitics in AI Infrastructure: George highlights why where data centers are located — and who controls compute — will be a defining factor for global AI leadership. 7.⁠ ⁠Building for the Entire Planet, Not Just One Nation: George’s vision for Hebbia is a global platform for all humanity, regardless of geopolitical shifts. Timestamps: (00:00) - Intro (01:48) - Why is Hebbia a generationally important company shaping the future of civilization? (04:23) - Is the chatbot interface the wrong path for the future of AI user experiences? (06:45) - What core problem is Hebbia solving that current LLMs and AI tools haven’t addressed yet? (09:34) - How does Hebbia tackle AI hallucinations? (13:10) - What will a multi-agent AI future look like for everyday users in the next decade? (15:00) - Will AI replace white-collar jobs first—and what does the future of knowledge work really look like? (19:20) - Is the AI revolution truly different because it introduces general intelligence beyond past technologies? (23:09) - Is the decentralization of knowledge creating a new wave of better scientists outside traditional institutions? (24:11) - Is the rise of no-code and ubiquitous software creation signaling the end of traditional B2B SaaS? (26:54) - How do legendary investors like Eric Schmidt, Peter Thiel, and Jerry Yang influence Hebbia’s strategy and vision? (28:54) - What makes Hebbia stand out as multi-agent AI technology rapidly advances? (30:32) - What AI trend are people not paying enough attention to? (32:31) - How are global shifts in trade and politics shaping the future of AI and company building? (34:25) - How are customers measuring real ROI from their AI investments amid today’s AI boom? (36:23) - Is the true value of AI hidden in the new possibilities it unlocks, beyond just faster tasks? (37:19) - Outro Join us for this electrifying conversation with George Sivulka, where we explore the frontier of AI-human collaboration, the future of work, and how to build enduring technology companies. Follow our host on Linkedln to know more or subscribe to our emailing list to get new episodes directly into your inbox.
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    38 m
  • #35 - Dante Disparte : Fixing Broken Money: The Beginning of the Stablecoin Civilization

    #35 - Dante Disparte : Fixing Broken Money: The Beginning of the Stablecoin Civilization
    Apr 11 2025
    We’re joined by Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle, one of the biggest issuers of stablecoins (USDC) in the world. This year marks an important inflexion point for stablecoins as adoption and key regulation kicks in. We’re glad to have some one like Dante who has worked at the intersection of finance, technology, and policy, including his role on the US Digital Currency Governance Consortium and the World Economic Forum. As one of the central figures behind USDC, Circle’s fully-reserved dollar-based stablecoin, he breaks down the real-world applications of stablecoins, how they differ from traditional banking rails, and what this means for billions of people globally. We dive into: • How traditional banking rails are fundamentally broken, and why stablecoins collapse messaging and settlement into a single, real-time action. • Why USDC is a safer, 1:1 dollar-backed alternative to traditional banking deposits. • How stablecoins are already transforming economic life in emerging markets. • The global policy implications of programmable digital money. • Why this is not about disrupting traditional finance—but completing its unfinished work. Stablecoins represent a transformative opportunity to rebuild the global financial system in an open, instant, and borderless manner, akin to how the internet revolutionized information sharing. By eliminating intermediaries and leveraging blockchain technology, stablecoins can significantly reduce transaction costs and times, making financial services more accessible and efficient worldwide. This shift has the potential to democratize finance, enabling seamless global commerce and innovation, much like how email and the web democratized communication and information access. Key Takeaways from the Episode: 1.⁠ ⁠Stablecoins Collapse Messaging and Settlement into One Layer: Unlike traditional systems like SWIFT or PayPal, where a payment is just a message and settlement lags behind, stablecoins like USDC send the actual value along with the message—executing real-time, programmable transactions. 2.⁠ ⁠The World’s Financial Plumbing Is Broken: Slow, expensive, and opaque systems benefit incumbents who profit from delays. Stablecoins offer an open, interoperable alternative—what Dante calls the "Internet of Value." 3.⁠ ⁠USDC is 1:1 Backed – Not Fractional Reserve: Circle holds 100% of reserves in cash and short-term US Treasuries. Fully transparent, independently audited, and free from commingling, USDC is designed for trust at scale. 4.⁠ ⁠Emerging Markets Are Leading Adoption: USDC is being adopted as a store of value and medium of exchange in places with volatile local currencies, enabling billions of unbanked and underbanked users to access the global economy. 5.⁠ ⁠Stablecoins Enable New Forms of Programmable Finance: From streaming payments to tokenized IP ownership, stablecoins unlock composable, automated financial systems. Think of it as building with financial Lego blocks. 6.⁠ ⁠Interoperability Is Key: Circle's Cross-Chain Transfer Protocol (CCTP) and integration with 18+ blockchains allow USDC to operate natively across ecosystems—much like email works across providers. 7.⁠ ⁠Stablecoins vs. CBDCs vs. Bitcoin: Dante lays out why stablecoins (especially private-sector ones) offer better trust, scalability, and flexibility than central bank digital currencies (CBDCs) or highly volatile assets like Bitcoin. 8.⁠ ⁠Global Policy Must Catch Up: Governments should embrace rules-based competition and interoperability, rather than stifling innovation. Stablecoins are not here to replace sovereign currencies—they're here to complete unfinished work in the financial system. Join us for a masterclass in monetary innovation and policy with one of the most visionary voices in fintech. Follow our host on Linkedln to know more or subscribe to our emailing list to get new episodes directly into your inbox. Timestamps: (00:00) - Intro (01:28) - What is Stablecoin? (02:15) - How does decentralized digital money differ from early platforms like PayPal? (03:46) - How does money actually settle using SWIFT and traditional banking systems? (05:47) - Why is the traditional global settlement system a black box—and what makes it so outdated? (11:10) - Why does the world need stablecoins in a modern financial system? (16:56) - Why are stablecoins like USDC gaining massive traction in emerging markets? (20:29) - How do mobile money systems like M-Pesa compare to USDC in emerging markets? (23:32) - Is USDC revolutionizing remittance corridors through partnerships in emerging markets? (27:12) - Will USDC become a part of everyday banking and be usable at points of sale? (35:47) - Does USDC operate on a full-reserve model instead of fractional reserve banking? (38:39) - Is USDC’s future too dependent on the U.S. dollar’s global reserve currency ...
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    1 h y 7 m
  • #34 - Prof. Jomo Kwame Sundaram : Why Most Countries Stay Poor – Growth, Power & Global Myths

    #34 - Prof. Jomo Kwame Sundaram : Why Most Countries Stay Poor – Growth, Power & Global Myths
    Mar 28 2025
    In this episode, we're joined by Professor Jomo Kwame Sundaram, a Malaysian economist and thought leader who served as the Assistant Secretary-General for Economic Development at the United Nations (UN) and Assistant Director-General at the FAO. We explore how countries in the Global South can chart their own paths to prosperity. What makes a country truly developed? Is it just GDP per capita or something deeper? Professor Jomo challenges conventional economic dogma—unpacking flawed narratives around FDI, inflation, aid, and industrial policy. With sharp historical insight and grounded realism, he examines why only a few countries have truly made the leap from developing to developed, and what it takes for the rest to follow. We dive deep into: • Why South Korea’s path to development is so unique—and rarely replicated • The dangers of relying too heavily on foreign direct investment (FDI) • How resource-rich countries like Tanzania and Equatorial Guinea remain poor • The role of good governance—myth vs. reality • Industrial policy and protectionism in the modern age • The myth of the 2% inflation target and the origins of TFP calculations • Why we need whistleblowers in economics to fight mythology Key Takeaways from the Episode: 1. GDP Isn’t Everything: Professor Jomo argues that true development is about human capabilities—not just high income. Many mineral-rich countries show that high GDP doesn’t guarantee a capable, prosperous society. 2. FDI Is Not a Magic Bullet: Countries like South Korea succeeded by limiting FDI and building domestic capacity. In contrast, over-reliance on foreign capital can lead to wealth extraction without long-term benefits. 3. Governance Indicators Are Circular: Metrics of good governance often reinforce existing biases, labeling developing countries as inherently poor-governed based on narrow criteria. 4. Aid Isn’t Always Altruistic: While aid can help, it often serves political purposes and fails to address structural problems. Misguided advice—like telling Tanzania not to tax gold mining—has impoverished nations further. 5. The Power of Industrial Policy: From the U.S. post-Civil War to modern-day China, industrial policy has always driven real growth. The current revival of protectionism may reshape global trade dynamics. 6. The Myth of the 2% Inflation Target: Professor Jomo dismantles the origin story of the widely accepted 2% inflation target, tracing it back to a political slogan in New Zealand rather than any real economic justification. 7. Emerging Markets Must Think Contextually: There’s no one-size-fits-all model for development. Local conditions, capabilities, and smart policymaking matter more than mimicking the West. 8. Technology’s Role Is Complex: AI and machine learning have vast potential, but without equitable distribution, they may worsen inequality. True progress lies in how benefits are shared. Join us for this unfiltered, eye-opening episode with Professor Jomo, where we challenge dominant development narratives and explore the real ingredients of economic transformation. Follow our host on Linkedln to know more or subscribe to our emailing list to get new episodes directly into your inbox. This conversation is part of the Emerging Market Innovation Series, brought to you in collaboration with Strategic Counsel, where we're also joined by Hafidzi Razali, Founder and CEO of Strategic Counsel. Timestamps: (00:00) – Introduction to Professor Jomo and his global economic leadership (02:00) – What defines a developed country? Why GDP isn’t enough (05:50) – The FDI trap: Why foreign capital can hinder national development (12:10) – Lessons from Korea, China, and Singapore (17:45) – Mariana Mazzucato, moonshots, and the entrepreneurial state debate (24:00) – Financialization and the decline of real innovation (30:50) – Industrial policy from Hamilton to Biden: A history of protectionism (36:10) – Extractive vs. inclusive institutions: Debating colonial legacy (43:00) – The French CFA zone and the myth of aid (49:30) – Inflation targeting and monetary policy misconceptions (55:00) – Can AI drive growth—or deepen inequality? (60:00) – Final thoughts on building resilient, people-first economies
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    1 h y 3 m
  • #33 - Benji Leibowitz: What is ‘Decentralized-Science’ & How Will It Transform The Future of Science & Innovation

    #33 - Benji Leibowitz: What is ‘Decentralized-Science’ & How Will It Transform The Future of Science & Innovation
    Mar 14 2025
    In this episode, we had the pleasure of speaking with Benji Leibowitz, Chief Operating Officer at Molecule and Co-Founder of Pump.Science. Benji is at the forefront of the Decentralized Science (DeSci) movement, which utilizes blockchain technology to democratize research funding and empower scientific communities. Benji Leibowitz has a diverse background in academic research, investment banking, venture capital, and computational biology research and development. At Molecule, he plays a pivotal role in creating a decentralized biotech protocol that connects researchers with funding opportunities through Web3 technologies. Additionally, he leads Pump.Science, a Solana-native DeSci funding platform aimed at gamifying and broadening participation in scientific research. ​ In This Episode, We Explore: • The Challenges in Traditional Science Funding: How centralized funding models limit innovation and how DeSci proposes to address these issues. • The Role of Blockchain in DeSci: Why blockchain is considered the ideal technology for decentralizing scientific research and funding.​ • Introduction to Molecule and Pump.Science: An overview of these platforms and how they aim to revolutionize the way scientific research is funded and conducted.​ • Engaging the Broader Community: How platforms like Pump.Science are gamifying research funding to involve a wider audience in scientific discovery.​ • Advice for Researchers: Encouragement and guidance for scientists interested in exploring decentralized models for their work.​ Key Takeaways: 1. Decentralization Empowers Researchers: By leveraging blockchain technology, researchers can access funding sources beyond traditional institutions, fostering innovation.​ 2. Community Engagement is Crucial: Decentralized platforms enable public participation in scientific research, increasing transparency and trust.​ 3. Blockchain Ensures Transparency: The immutable nature of blockchain records enhances the credibility and reproducibility of scientific findings.​ 4. Gamification Attracts Participation: Introducing game-like elements to research funding can make science more accessible and engaging to the public.​ 5. Future of DeSci: Decentralized Science holds the potential to accelerate scientific discoveries by democratizing access to funding and resources.​ Timestamps:

    (00:00) - Intro

    (01:27) - What is decentralized science, and how does it challenge traditional research models?

    (03:25) - What inefficiencies in traditional science does decentralized science aim to solve?

    (05:31) - How is decentralized science redefining intellectual property in research and innovation?

    (12:18) - In today’s fast-moving biotech landscape, does drug exclusivity still hold up for 20 years?

    (19:18) - Are early-stage anti-aging drugs the future of longevity science?

    (24:09) - How does decentralized science ensure research credibility and scientific rigor?

    (26: 08) - In a world of fractionalized IP, how do researchers protect and govern their innovations?

    (31:53) - Is decentralized science a revolution or just another crypto scam?

    (33:47) - Can long-term scientific research thrive in the fast-paced, hype-driven crypto market?

    (44:42) - How can decentralized science integrate with traditional research institutions and publishing models?

    (47:44) – What career paths and recognition exist for researchers in decentralized science?

    Join us for this insightful discussion with Benji Leibowitz as we delve into how decentralization and blockchain technology are transforming the scientific research ecosystem. Follow our host on Linkedln to know more or subscribe to our emailing list to get new episodes directly into your inbox.
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