Patrick Collison & Noah Smith: How Can the US Stay Ahead Technologically?
"Econ 102" with Noah Smith and Erik TorenbergShow Notes
This week, Noah Smith and Stripe CEO Patrick Collison recorded a live conversation on Substack covering topics such as American technological leadership, global competition, industrial policy, foreign direct investment, post-financial crisis productivity trends, US financial system advantages, progressive policies, the middle class, tariffs, immigration, technological advancements like humanoid robots, Gen Z’s well-being, and key policy recommendations for economic and social progress. This conversation first aired in Noah's substack Noahpinion, so be sure to subscribe if you aren't already.
--
🙏 Help shape our show by taking our quick listener survey at https://bit.ly/TurpentinePulse.
-- Highlights from the Episode: (for more head to https://www.noahpinion.blog/p/patrick-collison-interview-at-least)
The U.S. has maintained its technological edge relative to most developed nations, particularly pulling ahead of Europe, Japan, and South Korea.
A key U.S. advantage is its diverse financing system - about 80% of U.S. commercial lending is non-bank lending, compared to only 20% in the UK.
The U.S. benefits from a large, unified domestic market, further strengthened by continued immigration, which attracts investment and fosters clustering effects, especially in sectors like software.
There are concerns about Gen Z's reported lower life satisfaction and mental health challenges.
Replacing NEPA with administrative review (similar to Japan's system).
-- SPONSORS:
NetSuite More than 41,000 businesses have already upgraded to NetSuite by Oracle, the #1 cloud financial system bringing accounting, financial management, inventory, HR, into ONE proven platform. Download the CFO's Guide to AI and Machine learning: https://netsuite.com/102
Notion 📝Notion offers powerful workflow and automation templates, perfect for streamlining processes and laying the groundwork for AI-driven automation. With Notion AI, you can search across thousands of documents from various platforms, generating highly relevant analysis and content tailored just for you - try it for free at https://notion.com/upstreampod
Found Found provides small business owners tools to track expenses, calculate taxes, manage cashflow, send invoices and more. Open a Found account for free at https://found.com/econ102.
AdQuick The easiest way to book out-of-home ads (like billboards, vehicle wraps, and airport displays) the same way you would order an Uber. Ready to get your brand the attention it deserves? Visit https://adquick.com/ today to start reaching your customers in the real world.
-- SEND US YOUR Q's FOR NOAH TO ANSWER ON AIR: [email protected]
-- FOLLOW ON X: @patrickc @noahpinion @eriktorenberg @turpentinemedia
-- RECOMMENDED IN THIS EPISODE: Noahpinion: https://www.noahpinion.blog/ Patrick Collison interview + at least five interesting things: https://www.noahpinion.blog/p/patrick-collison-interview-at-least Stripe: https://stripe.com/
More from "Econ 102" with Noah Smith and Erik Torenberg
Noah Smith joins Erik Torenberg at the 2026 American Dynamism Summit in Washington, D.C. to discuss Anthropic's relationship with Washington, bioterrorism risks stemming from AI, why Noah isn't worried about AI causing job loss, and more.
In this episode of Econ 102, Noah and Erik are joined by Flock Safety CEO to cover America's crime crisis and how to solve it with technology. They explore international comparisons, why America's crime problem is unique, how cameras can deter crime, tradeoffs in crime reduction, and more. - Sponsors: Notion AI meeting notes lives right in Notion, everything you capture, whether that's meetings, podcasts, interviews, conversations, live exactly where you plan, build, and get things done. Here's an exclusive offer for our listeners. Try one month for free at https://www.notion.com/lp/econ102
In this episode of Econ 102, Noah Smith and Erik Torenberg cover Europe's economic future, how internet discourse has changed politics, the rise of identitarian populism on both the right and left in America, and more.
In this episode of Econ 102 originally aired on the Sphere Podcast, Noah Smith and Pascal-Emmanuel Gobry sit down for a debate on immigration. They cover the philosophical underpinnings of their arguments, where they find common ground, border enforcement, deportation, public opinion, and more.
In this episode of Econ 102, Noah Smith and Erik Torenberg explore AI's effects on productivity, how AI business models will shake out, the US and China's rare earth minerals industries, and China's economic challenges, including demographics, real estate, and involution.