Sebastian Mallaby on Artificial Intelligence, Railroads, and Transformative Changes

A conversation with Sebastian Mallaby exploring what we can learn from the massive changes ushered in by railroads, and how they might help inform the…

Sep 25 • Daniel Gamboa and Matt Harris

1:17:18

The Rail Revolution: Jay Cooke and the Northern Pacific (Part 4)

In 1870, after building a financial empire, Jay Cooke agrees to finance the Northern Pacific. This is a story of funding transformative infrastructure…

Sep 10 • Daniel Gamboa and Matt Harris

1:05:42

August 2026

Market Power: A Framework for Capital Allocation

Scarcity, chokepoints and market power are critical to durable returns—whether you’re building railroads, energy infrastructure, internet fiber, data…

Aug 28 • Daniel Gamboa

1

The Rail Revolution: Cornelius Vanderbilt and Market Power (Part 3)

Cornelius Vanderbilt left steamboats for railroads and built America's most powerful rail system. A story of market power and relentless competition.

Aug 12 • Daniel Gamboa and Matt Harris

1

1:10:49

July 2026

Financing the American Revolution: Robert Morris and Independence

You've likely never heard of one of the most important founders of the American Revolution: Robert Morris, the Financier of the American Revolution.

Jul 1 • Daniel Gamboa and Matt Harris

1

1:06:07

June 2026

The Rail Revolution: George Hudson and Railway Mania (Part 2)

Listen now | In the 1840s, Britain deployed more capital in railways than any nation had ever invested in anything outside of war.

Jun 8 • Daniel Gamboa and Matt Harris

1

1:07:13

AI capex is massive and we've been here before

The only cycle that really compares to AI in terms of capital deployed, built a vast railway network across Britain in the 1840s

Jun 5 • Matt Harris

3

1

May 2026

The Rail Revolution: George Stephenson and the Birth of Railways (Part 1)

George Stephenson, the birth of the railway (steam, iron, coal, and capital) and how it resembles the AI boom

May 18 • Daniel Gamboa and Matt Harris

2

1

1:09:13

April 2026

The 80s on Wall Street: Howard Marks and Bruce Karsh Cultivate Cycles (Part 5)

The final chapter in our 80s on Wall Street series bridges the story from the rise of high yield bonds and leveraged buyouts to the birth of distressed…

Apr 7 • Daniel Gamboa and Matt Harris

2

1:11:38

March 2026

Bob McNally on Oil Price Volatility, OPEC, Energy Markets, and the Strait of Hormuz

Bob McNally on the history of oil price volatility, previous attempts at stabilizing it, how oil shapes the economy, and the outlook for the Strait of…

Mar 17 • Daniel Gamboa and Matt Harris

5

1:07:53

February 2026

The 80s on Wall Street: Fred Carr Bankrolls the Boom (Part 4)

Where did all the money that fueled the junk bond boom come from? Fred Carr's insurance company was as critical to the growth of the market as Michael…

Feb 26 • Daniel Gamboa and Matt Harris

2

1:12:35

The 80s on Wall Street: KKR and The RJR Nabisco Battle (Part 3)

The most dramatic LBO in history: Henry Kravis from buyout specialist firm KKR vs Ross Johnson, CEO of RJR Nabisco, and his advisers including Shearson…

Feb 13 • Daniel Gamboa and Matt Harris

3

49:24