Peter St-Onge Talks Dot-Com Crash, AI Bubbles, and Building Wealth Amid Market Turbulence | Impact Theory w/ Tom Bilyeu

Tom Bilyeu's Impact Theory

Impact Theory

News Commentary, News, Business

4.7 • 5.2K Ratings

🗓️ 19 February 2026

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Welcome back to Impact Theory with Tom Bilyeu. In today’s episode, we’re joined by economist Peter St-Onge, whose remarkable journey began with early investment success, only to be wiped out in the 2000 dot-com crash and lead him to reinvent himself as a bartender in Japan and eventually earn a PhD in economics. Together, Tom Bilyeu and Peter St-Onge dive deep into the mechanics behind market booms and busts—from dot-com to the rise of AI—exploring how economic forces like Federal Reserve policies, tariffs, regulations, and the ever-controversial debate between Keynesian and Austrian economics shape our financial landscape. You’ll hear Peter St-Onge break down why asset holders consistently come out ahead, discuss the looming threats and unlikely contenders to the US dollar as the world’s reserve currency, and weigh in on the real impact of government intervention. If you’ve ever wondered how to invest wisely in today’s volatile market, see through the headlines, or navigate a system that seems rigged for the rich, this episode offers rare clarity—and actionable advice—for surviving and thriving in uncertain times. Stay tuned as we untangle the web of economic forces affecting us all and provide the insights you need to make legendary moves. Follow Peter St-Onge:X (Twitter): https://twitter.com/profstongeSubstack: https://profstonge.substack.com What's up, everybody? It's Tom Bilyeu here: If you want my help... STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20show SCALING a business: see if you qualify here.: https://tombilyeu.com/call Get my battle-tested strategies and insights delivered weekly to your inbox: sign up here.: https://tombilyeu.com/ ********************************************************************** If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu’s Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you. ********************************************************************** FOLLOW TOM: Instagram: https://www.instagram.com/tombilyeu/ Tik Tok: https://www.tiktok.com/@tombilyeu?lang=en Twitter: https://twitter.com/tombilyeu YouTube: https://www.youtube.com/@TomBilyeu Quince: Free shipping and 365-day returns at https://quince.com/impactpodShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impactBlocktrust IRA: Get up to $2,500 funding bonus to kickstart your account at https://tomcryptoira.comAquaTru: 20% off your purifier with code IMPACT https://aquatru.com Netsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheoryPique: 20% off at https://piquelife.com/impact Cape: 33% off your first 6 months with code IMPACT at https://cape.co/impact Plaud: Get 10% off with code TOM10 at https://plaud.ai/tom AI bubble, dot-com crash, Federal Reserve, interest rates, Austrian economics, Keynesian economics, money printing, inflation, stock market, business cycles, regulation, tariffs, US national debt, global reserve currency, gold standard, BRICS currency, quantitative easing, asset values, K-shaped economy, boom-bust cycle, deglobalization, trade barriers, manufacturing in the US, economic forces, store of value, economic recession, liquidity, federal government spending, bailouts, central banking Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Today's show is made possible by Plod. You think you remember conversations accurately.
0:06.3	The data says you do not. Studies show we forget 50% of what we hear within an hour.
0:13.5	That client call where you discuss pricing, you're missing half of it. That strategy meeting with
0:18.3	three action items, you remember two, maybe, but Plod can fix this.
0:23.3	It's an AI assistant that captures every conversation, meetings, calls, in-person discussions,
0:29.5	Plod records everything, then delivers accurate transcripts, summaries, and action items automatically.
0:35.4	I mean, literally just wear it. No more guessing what was said.
0:38.7	No more, I think they mentioned.
0:41.2	Ask plot exactly what was decided.
0:43.7	Who's responsible?
0:44.7	What the next steps are?
0:45.7	Right now, listeners can get 10% off or more on all plot devices with the code, Tom 10.
0:52.9	Just type PLA-U-D-A-I-Slas-Tom into Google or simply search,
1:00.0	plot on Google and use the code Tom 10 at checkout to get started today.
1:05.0	Prime Video brings the best in entertainment.
1:08.0	The end of the world continues with season two of the global phenomenon,
1:12.6	Fallout, included with Prime.
1:14.6	I defer to you about what to do in this situation.
1:16.6	Bring home the epic conclusion to the untold story of the Witches of Oz.
1:20.6	Buy or rent, Wicked for Good Now.
1:22.6	I'm taking you to see the Wizard.
1:24.6	There's no going back.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Impact Theory, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Impact Theory and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.