Episode #481: From Rothschilds to Robinhood: Cycles of Finance and Control

On this episode of Crazy Wisdom, host Stewart Alsop speaks with Michael Jagdeo, a headhunter and founder working with Exponent Labs and The Syndicate, about the cycles of money, power, and technology that shape our world. Their conversation touches on financial history through The Ascent of Money by Niall Ferguson and William Bagehot’s The Money Market, the rise and fall of financial centers from London to New York and the new Texas Stock Exchange, the consolidation of industries and the theory of oligarchical collectivism, the role of AI as both tool and chaos agent, Bitcoin and “quantitative re-centralization,” the dynamics of exponential organizations, and the balance between collectivism and individualism. Jagdeo also shares recruiting philosophies rooted in stories like “stone soup,” frameworks like Yu-Kai Chou’s Octalysis and the User Type Hexad, and book recommendations including Salim Ismail’s Exponential Organizations and Arthur Koestler’s The Act of Creation. Along the way they explore servant leadership, Price’s Law, Linux and open source futures, religion as an operating system, and the cyclical nature of civilizations. You can learn more about Michael Jagdeo or reach out to him directly through Twitter or LinkedIn.

Check out this GPT we trained on the conversation

Timestamps

00:05 Stewart Alsop introduces Michael Jagdeo, who shares his path from headhunting actuaries and IT talent into launching startups with Exponent Labs and The Syndicate.

00:10 They connect recruiting to financial history, discussing actuaries, The Ascent of Money, and William Bagehot’s The Money Market on the London money market and railways.

00:15 The Rothschilds, institutional knowledge, and Corn Laws lead into questions about New York as a financial center and the quiet launch of the Texas Stock Exchange by Citadel and BlackRock.

00:20 Capital power, George Soros vs. the Bank of England, chaos, paper clips, and Orwell’s oligarchical collectivism frame industry consolidation, syndicates, and stone soup.

00:25 They debate imperial conquest, bourgeoisie leisure, the decline of the middle class, AI as chaos agent, digital twins, Sarah Connor, Godzilla, and nuclear metaphors.

00:30 Conversation turns to Bitcoin, “quantitative re-centralization,” Jack Bogle, index funds, Robinhood micro bailouts, and AI as both entropy and negative entropy.

00:35 Jagdeo discusses Jim Keller, Tenstorrent, RISC-V, Nvidia CUDA, exponential organizations, Price’s Law, bureaucracy, and servant leadership with the parable of stone soup.

00:40 Recruiting as symbiosis, biophilia, trust, Judas, Wilhelm Reich, AI tools, Octalysis gamification, Jordan vs. triangle offense, and the role of laughter in persuasion emerge.

00:45 They explore religion as operating systems, Greek gods, Comte’s stages, Nietzsche, Jung, nostalgia, scientism, and Jordan Peterson’s revival of tradition.

00:50 The episode closes with Linux debates, Ubuntu, Framer laptops, PewDiePie, and Jagdeo’s nod to Liminal Snake on epistemic centers and turning curses into blessings.

Key Insights

1. One of the central insights of the conversation is how financial history repeats through cycles of consolidation and power shifts. Michael Jagdeo draws on William Bagehot’s The Money Market to explain how London became the hub of European finance, much like New York later did, and how the Texas Stock Exchange signals a possible southern resurgence of financial influence in America. The pattern of wealth moving with institutional shifts underscores how markets, capital, and politics remain intertwined.
2. Jagdeo and Alsop emphasize that industries naturally oligarchize. Borrowing from Orwell’s “oligarchical collectivism,” Jagdeo notes that whether in diamonds, food, or finance, consolidation emerges as economies of scale take over. This breeds syndicates and monopolies, often interpreted as conspiracies but really the predictable outcome of industrial maturation.
3. Another powerful theme is the stone soup model of collaboration. Jagdeo applies this parable to recruiting, showing that no single individual can achieve large goals alone. By framing opportunities as shared ventures where each person adds their own ingredient, leaders can attract top talent while fostering genuine symbiosis.
4. Technology, and particularly AI, is cast as both chaos agent and amplifier of human potential. The conversation likens AI to nuclear power—capable of great destruction or progress. From digital twins to Sarah Connor metaph