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In a conversation between Guy Kawasaki and Paul Oyer, various topics related to economics and personal success are discussed. Oyer's latest book, "An Economist Goes to the Game: How to Throw Away $580 Million and Other Surprising Insights from the Economics of Sports," applies economic principles to sports but is not a scientifically proven study. Oyer acknowledges that some of the conclusions in his book are more narrative-based than scientifically established. The concept of adoption and its impact on success is also explored, with Oyer explaining that while being adopted may have psychological effects, it may not be the primary cause of success. The credibility of market experts, the relationship between economics and psychology, and the concept of comparative advantage are also discussed.
Oyer explains the concept of information economics and its impact on markets, as well as the shift from a "thin market" to a "thick market" in online dating. The adverse selection problem in online dating is addressed, with Oyer explaining how the stigma attached to online dating has faded over time. The conversation also touches on LinkedIn, crypto, blockchain, and NFTs, with Oyer expressing economists' skepticism towards these technologies.
The effect of raising the minimum wage is explored, with Oyer explaining the potential positive and negative effects. Oyer also shares his experience as an Uber driver and advises Uber and Lyft to be honest with drivers about the demands of the job. The conversation concludes with discussions on the impact of sports and extracurricular activities on future success, as well as the importance of education and its correlation with higher earnings.
In a conversation between Guy Kawasaki and Paul Oyer, various topics related to economics and person