IL34: Democratizing Data: A New Approach for Trustworthy Information ft. Julia Lane
Top Traders Unplugged
Niels Kaastrup-Larsen
4.8 • 712 Ratings
🗓️ 1 January 2025
⏱️ 43 minutes
🧾️ Download transcript
Summary
Our guest on this episode is Dr. Julia Lane, Professor at New York University and author of the book Democratizing Our Data: A Manifesto. Dr. Lane is a member of the National AI Research Resource Task Force and has advised the White House on promoting the use of Federal data for evidence building. She believes that the US system collecting data is outdated, inaccurate and unable to reform itself. This includes the data that goes into measures like GDP and unemployment. The current system is also unable to track the impact of AI on the economy. We discuss her proposals including her work to establish a new non-partisan institute to provide accurate and secure data available to everyone.
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Episode TimeStamps:
02:29 - Introduction to Julia Lane
03:42 - We need to rethink how we generate trustworthy data
12:49 - How does data collection look like in the U.S?
18:14 - How do we find out what firms are working in artificial intelligence?
24:53 - How Lane believes we can solve the challenges of collecting trustworthy data
30:38 - How you maintain trust from an operational point of view
32:38 - What we can learn from the New Zealand data collection system
35:57 - How confident can we be in the economic data
38:26 - We need a standardised approach to data collection
40:10 - Lane's future plans for solving the challenges of data collection
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Transcript
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| 0:00.0 | No one can tell you what data sources to use, and no one can tell you what data sources are any good. |
| 0:15.0 | We can tell you a little bit, but what you really want is the wisdom of the crowds. |
| 0:21.6 | Can anyone tell you how to buy, how to build an energy-efficient building? |
| 0:26.6 | No, there are thousands of standards and there's a community of practice that comes in and says, |
| 0:31.6 | these are the characteristics that make an energy-efficient building, a lead building. What we need to do is apply that same standards discipline |
| 0:43.3 | that is used to build buildings in building a new data infrastructure. |
| 0:52.3 | Imagine spending an hour with the world's greatest traders. |
| 0:57.0 | Imagine learning from their experiences, their successes, and their failures. |
| 1:02.0 | Imagine no more. |
| 1:04.0 | Welcome to Top Traders Unplugged, the place where you can learn from the best hedge fund managers in the world, |
| 1:10.0 | so you can take your |
| 1:11.0 | manager due diligence or investment career to the next level. Before we begin today's |
| 1:15.9 | conversation, remember to keep two things in mind. All the discussion we'll have about investment |
| 1:20.6 | performance is about the past, and past performance does not guarantee or even infer anything |
| 1:25.9 | about future performance. |
| 1:31.8 | Also understand that there's a significant risk of financial loss with all investment strategies, and you need to request and understand the specific risks from the investment manager about their product |
| 1:37.2 | before you make investment decisions. |
| 1:39.6 | Here's your host, veteran hedge fund manager, Niels Kostrup Larson. |
| 1:49.0 | Thank you. your host, veteran hedge fund manager, Niels Kostrup Larson. For me, the best part of my podcasting journey has been the opportunity to speak to a huge range |
| 1:54.6 | of extraordinary people from all around the world. In this series, I have invited one of them, |
| 1:59.9 | namely Kevin Koldineine to host a series of |
| 2:02.1 | in-depth conversations to help uncover and explain new ideas to make you a better investor. |
... |
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