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Slate Books

Slate Money - Nate Silver and the Secret World of Risk-Takers

Slate Books

Slate Podcasts

Arts

3.8546 Ratings

🗓️ 17 August 2024

⏱️ 50 minutes

🧾️ Download transcript

Summary

This week, author and data journalist Nate Silver joins Felix Salmon, Emily Peck, and Elizabeth Spires to discuss his new book On the Edge: The Art of Risking Everything, a deep dive into the risk-taking class that shapes modern society. They discuss the low-risk world of “the village,” and the community of high stakes, go-big-or-go-home investors on “the river.” How do these reams affect investments, AI, and politics? In the Plus segment: Nate gives his election forecast and the hosts debate how the media handled Joe Biden’s age concerns. If you enjoy this show, please consider signing up for Slate Plus. Slate Plus members get an ad-free experience across the network and an additional segment of our regular show every week. You’ll also be supporting the work we do here on Slate Money. Sign up now at slate.com/moneyplus to help support our work. Podcast production by Jared Downing and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hello, welcome to Slate Money, your guide to the business and finance news of the week.

0:17.2

I'm Felix Salmon of Axios with Emily Peck of Axios.

0:20.6

Hello, hello. With Elizabeth Spires of all manner of media places.

0:25.4

Hello. And with a media refugee, Nate, would you say?

0:31.6

Yeah, I'd like that. Expat maybe. Or I don't know.

0:34.6

And media expat. We have Nate Silver, who needs very little introduction, but obviously is a statistician and

0:43.4

a poker player and the author of a new book-length essay about the lead guitarist for you

0:50.5

too.

0:51.4

Nate, plug the book.

0:53.3

The book is called On the Edge, The Art of Risking Everything.

0:56.6

It's a tour of people who basically take crazy risks for a living. So we are going to talk

1:01.9

all about the book. We're going to talk about the world of artificial intelligence. We're going to

1:07.2

talk about Silicon Valley. We're going to talk about gambling. We're going to talk about this Valley. We're going to talk about gambling.

1:20.0

We're going to talk about this whole broad idea that you can split the country between two different classes of people, the river and the village. We also have a separate Slate Plus segment all about politics and Kamala Harris and Joe Biden and probabilities in politics. So all of that

1:29.2

is coming up on Slate Money. Nate, the guiding metaphor in this book of yours is this distinction

1:42.7

between the river and the village. And I know that Emily

1:46.7

had a question about why a river? It's a great question. Originally it was going to be called,

1:53.4

in the proposal was called the pool. Because a pool, like gamblers love water metaphors,

1:58.0

like bad poker players are called fish or whales. A bedding pool is a thing.

2:02.4

I wanted a river, though, A, it's also a gambling term. Poker was developed in the Mississippi

2:07.8

Riverboat era, and the river is the last card that's dealt, the pivotal card in Texas,

2:12.9

Hold'em. But I wanted a community that was like a little bit more of a region because these people that the, you know, everyone from like poker players to venture capitalists to crypto dorks to like effective altruists, they kind of know one another, but there's like not quite a sense of like community as much, even though I travel through this community. I'm like, it's the same type of nerdy, competitive,

...

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