EconTalk — Patrick Collison

On: Innovation and Scientific Progress.

Episode: N/A

Date: January 2019

Background: Co-founder and CEO of Stripe, internet payment and services company.

Key Subjects:

  • Increase in scientific knowledge may be one of the most important drivers of long term progress.
  • Number of scientists has increased, but pace of scientific discoveries has declined (maybe).
    • Challenges of measuring innovation.
  • Perhaps matter of diminishing returns (low hanging fruits already discovered, increased complexity).
  • Perhaps matter of structure and funding of research and related institutions:
    • More conservative, group think.
  • Recognizes that power law applies to innovation.
    • Rare, unpredictable events.
    • Look for strategies that increase variance to maximize occurrence of positive black swans.

Key Takeaways:

  • -/-.

Worth Listening:


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