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.
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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).
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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/
Ireland