E103: Byrne Hobart on What The First AI Agents Will Do + China, Google Analysis

In this episode of The Riff, Byrne Hobart and Erik Torenberg dive into a wide range of topics. They explore the best ways to use AI agents in customer service, examine how return on equity is changing as a business metric in efficient markets, and discuss unexpected innovations at Google. The conversation also touches on the economic and social effects of tariffs, especially regarding China's quest for technological independence. They delve into how major technological advancements impact national wealth, the differences between passive and active investing, and the intriguing world of meme coins and speculative markets. Throughout their discussion, they emphasize the challenges of assessing businesses in a fast-evolving economy, the strategic importance of technology for countries, and the cyclical trends in investment approaches.