Booms, Busts and Bubbles; Sculpting Evolution; The Payam Method | 60 Minutes Full Episodes
In a Nutshell
The video warns that current market conditions—rapid stock gains, heavy AI investment, rising speculation, and eroding financial regulations—mirror the pre-1929 bubble, with investor Andrew Ross Sorkin predicting an inevitable crash though its timing is unknown. It then profiles a Nantucket genetic engineering project using CRISPR to create Lyme-immune mice that pass immunity to offspring, aiming to break the disease cycle with community approval and ecological safeguards. Finally, it showcases the Payam Method, which teaches piano through numbers and letters before notation, achieving a 96% diploma rate in four years versus the traditional 1-2% in twelve, by prioritizing student enjoyment and early composition.
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Do you think that we will have a crash? Andrew Ross Sorcin, one of the country's most influential financial reporters, wrote a book about the market crash a century ago. When asked if he is scared, Sorcin stated he is anxious that we are at prices that may not feel sustainable. He said we are either living through some kind of remarkable boom or we're reliving 1929.
The stock market has been steadily rising for many months despite occasional volatility around issues like tariffs and war. Sorcin had just written a book called 1929 about the market crash a century ago. On Tuesday, October 29th, 1929, the New York Stock Exchange saw a crush of frightened traders dumping stocks, with investors losing their shirts and businesses and homes being lost, sweeping away the roaring 20s.
Sorcin says we are in our own roaring 20s, the 2020s, with stocks climbing for months just like then. From 1928 to September of 1929, the stock market was up 90%. Sorcin is anxious that we are at prices that may not feel sustainable, and what he does not know is whether we are living through some kind of remarkable boom driven by artificial intelligence and technology or if everything is overpriced and we are reliving 1929.
Sorcin has covered the markets for two decades. He joined the New York Times after college, soon founding the Dealbook newsletter covering finance. He also co-hosts Squawkbox on CNBC, runs the Dealbook Summit, co-created the TV show Billions, wrote a bestseller about the 2008 crash, and now a book about 1929.
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