Best Lars Miller Podcasts (2025)

1
How to Scale THC & Functional Beverage Brands with Strategic Supply Chain Integration 44:52

18d ago44:52

44:52

Doug Fulton, Co-CEO of Emergent Beverages and founder of the Brand Accelerator, joins us to break down how cannabis and functional beverage brands can scale with strategic growth, smart distribution, and vertical integration. From his early days in international media to building the largest cannabis beverage facility in California, Doug brings dee…

1
Life insurance and your money, with Zac Townsend 1:20:53

11h ago1:20:53

1:20:53

In this episode, Patrick McKenzie (patio11) is joined by Zac Townsend, a serial founder and CEO of Meanwhile, a fully regulated life insurance company operating in Bitcoin. They explore the differences between life and property insurance, explain why term life is essential financial protection everyone should consider, and dive into the tax benefit…

1
Fixing government technology, with Mikey Dickerson 53:39

8d ago53:39

53:39

In this episode, Patrick McKenzie (@patio11) is joined by Mikey Dickerson to discuss the complex realities behind government software projects. Mikey shares insights from leading the healthcare.gov rescue effort and founding the United States Digital Service, explaining how procurement processes create requirements through committee decision-making…

1
Understanding and wielding power in local government, with Daniel Golliher 59:35

15d ago59:35

59:35

In this episode, Patrick McKenzie (@patio11) is joined by Daniel Golliher, founder of Maximum New York, to discuss the opaque mechanics of political power and how everyday people can effectively engage with government systems. They explore the stark gap between formal political science degrees and how politics actually works, practical tactics for …

1
The AI energy bottleneck, with Tim Fist 1:06:05

22d ago1:06:05

1:06:05

In this episode, Patrick McKenzie (@patio11) is joined by Tim Fist, Director of Emerging Technologies at the Institute for Progress, to discuss how energy constraints could bottleneck AI development. They explore how AI training clusters will soon require gigawatts of power—equivalent to multiple nuclear plants—with projections showing a single clu…

1
Taking stablecoins seriously, with Haseeb Qureshi 1:08:05

29d ago1:08:05

1:08:05

In this episode, Patrick McKenzie (@patio11) is joined by Haseeb Qureshi, a managing partner at Dragonfly, a crypto-focused VC fund. They discuss the evolution of stablecoins, three key use cases, and their impact on international finance. Haseeb explains how stablecoins have grown beyond their initial association with crypto trading and illicit ac…

1
How Wynk is Scaling Hemp-Derived THC Beverages Nationwide 37:38

1M ago37:38

37:38

In this episode of the Free Spirits Podcast, we sit down with Angus Rittenburg, CEO of Wherehouse Beverage and the visionary behind Wynk, to talk about how his team is scaling one of the most innovative hemp-derived THC beverage brands in the country. Angus shares his journey from Tesla battery engineer to cannabis beverage pioneer—engineering mobi…

1
The past, present, and future of AI, with Stripe 1:33:48

1M ago1:33:48

1:33:48

Patrick McKenzie (patio11) is joined by Emily Sands, Head of Information at Stripe, to discuss how they leverage AI to process over $1.4 trillion annually, while navigating the complex web of merchants, banks, and payment rails that facilitate online commerce. Patrick and Emily cover how Stripe’s layered stack of AI combats sophisticated card testi…

1
No, poor people aren’t funding your credit card rewards 1:06:47

1M ago1:06:47

1:06:47

In this episode, Patrick McKenzie (patio11) challenges a recent Atlantic article claiming that low-income cardholders subsidize credit card rewards through high interest payments. Drawing from his Bits About Money essay Anatomy of a credit card rewards program, Patrick explains that rewards are primarily funded by interchange fees paid by merchants…

1
Cann Founder Jake Bullock: Pioneering Microdose THC Beverages 44:42

2M ago44:42

44:42

In this episode of the Free Spirits podcast, we sit down with Jake Bullock, co-founder of Cann - the leading microdose cannabis beverage brand revolutionizing social drinking. Jake shares how his personal journey with alcohol led him to create Cann, offering a 2mg THC alternative that provides a gentle, controlled experience similar to having a bee…

1
Points, profits, and packed planes, with Gary Leff 1:31:27

2M ago1:31:27

1:31:27

Patrick McKenzie (patio11) is joined by Gary Leff, the author of "View from the Wing", to discuss the economic systems behind airlines and loyalty programs. They discuss how airlines manage to stay profitable despite razor-thin margins, the economics of frequent flyer programs, and why these programs often generate more value than the airlines them…

1
Tax the dirt, with Lars Doucet & Greg Miller 1:17:07

2M ago1:17:07

1:17:07

Patrick McKenzie (patio11) is joined by Lars Doucet and Greg Miller, co-founders who have just launched the Center for Land Economics, to discuss improving property taxation in the US. They explore how shifting taxes from buildings to land could transform development patterns, why California's property tax caps coincide with its housing crisis, and…

1
Sober Curious? How Soberish is Revolutionizing Non-Alcoholic and Infused Drinks 40:53

2M ago40:53

40:53

Summary In this episode of the Free Spirits podcast, Lars Miller and David Gonzalez interview Kim Gamez, founder and CEO of Soberish, a marketplace for non-alcoholic and hemp-derived beverages. Kim shares her entrepreneurial journey, from her early days in the restaurant industry to her current venture, highlighting the importance of community enga…

1
A tale of two Americas in one $50K cash withdrawal 41:13

2M ago41:13

41:13

Patrick McKenzie (patio11) explains the standard procedure for large withdrawals in bank branches, with particular focus on the viral story published in The Cut about a woman who withdrew $50,000 cash from a bank and handed it to scammers. Certain minor details in the article set off a year-long investigation where he identified the exact physical …

1
AI, data centers, and power economics, with Azeem Azhar 1:13:53

2M ago1:13:53

1:13:53

Patrick McKenzie (patio11) is joined by Azeem Azhar, writer of the Exponential View newsletter, to discuss the massive data center buildout powering AI and its implications for our energy infrastructure. The conversation covers the physical limitations of modern datacenters, the challenges of electricity generation, the societal ripples from histor…

1
The Future of Hemp: Challenges and Opportunities with Kerry Hinkle of the U.S. Hemp Roundtable 30:38

3M ago30:38

30:38

Summary In this episode of the Free Spirits Podcast, host Lars Miller and co-host David Gonzalez engage with Kerry Hinkle, Director of Membership and Public Affairs at the US Hemp Roundtable. They discuss the evolution of the hemp industry since the 2018 Farm Bill, the challenges of regulation, and the importance of advocacy in shaping policy. Hink…

1
You can’t retract the facts 42:03

3M ago42:03

42:03

In this episode, Patrick McKenzie (@patio11) responds to a recent request by a crypto unicorn founder / bank CEO to retract his essay Debanking (and debunking?). Come for the note about editorial standards and independence, stay for the diss track. – Full transcript available here: https://www.complexsystemspodcast.com/editorial-standards-and-indep…

1
Stablecoins and shenanigans, with Zeke Faux 1:27:03

3M ago1:27:03

1:27:03

In this episode, Patrick McKenzie (@patio11) is joined by Zeke Faux, investigative reporter at Bloomberg and author of Number Go Up, to discuss stablecoins and crypto fraud. They dive into Tether's controversial history, the senate’s emerging GENIUS act, and how crypto enables various types of financial crime. The conversation explores how Tether w…

1
Power plays: grid economics and engineering, with Travis Dauwalter 1:13:46

3M ago1:13:46

1:13:46

Patrick McKenzie (@patio11) is joined by Travis Dauwalter, energy enthusiast (and PhD), to explain the systems we often take for granted behind the US electrical grid. The conversation covers how the grid maintains perfect supply-demand balance in real-time, the challenges of integrating renewable energy sources, and why America actually has three …

1
The landmines buried in the fine print of Chicago’s new casino deal 43:23

3M ago43:23

43:23

In today’s episode Patrick McKenzie (@patio11) examines a Chicago casino investment, first of its kind within the city limits. Patrick reads from his Bits About Money essay (published January 2025) with additional commentary based on recent developments. The discussion reveals how municipal politics, grievances about national and local economic his…

1
The banking crisis, two years later 1:09:48

4M ago1:09:48

1:09:48

Patrick McKenzie (@patio11) revisits his March 2023 essay that explained the dynamics of bank runs and system stress during the banking crisis one month prior. With data from a newly released Federal Reserve paper, he analyzes the true scope of the banking stress - including revelations that 22 banks experienced severe deposit outflows, far more th…

1
Debanking explained 1:00:43

4M ago1:00:43

1:00:43

In this episode, Patrick McKenzie (@patio11) unpacks his 24k word essay Debanking (and Debunking?) originally published on Bits about Money. He discusses the contours of recent debanking claims made by the crypto community, notably Marc Andreessen, Nic Carter, and explains how banking actually works as infrastructure rather than conspiracy. The con…

1
Retrospective on 2024, with Sammy Cottrell 1:03:50

4M ago1:03:50

1:03:50

In this special episode, Patrick McKenzie (@patio11) and his EA/producer Sammy Cottrell examine the production function behind Complex Systems, from studio logistics to transcript annotation and guest selection. They reflect on their most memorable episodes while discussing the podcast's core mission of making complex systems more legible and ensur…

1
Seeing like an outsider, with Yatharth 1:19:31

4M ago1:19:31

1:19:31

In this episode, Yatharth (@askyatharth), a graduate student and software engineer, turns the tables to interview Patrick McKenzie (@patio11) about cultural codes, writing, and AI. Patrick shares how his early experiences fighting credit report errors and navigating cross-cultural business environments led to his distinctive approach to understandi…

1
The future of pandemic preparedness, with Joshua Morrison 1:12:30

5M ago1:12:30

1:12:30

In this episode, Patrick McKenzie (patio11) is joined by Joshua Morrison, the CEO of advocacy non-profit 1Day Sooner. They discuss what worked and what didn't in Operation Warp Speed's unprecedented push to develop COVID-19 vaccines. The conversation then turns to the future of pandemic preparedness, particularly the promising (and underappreciated…

1
High Spirits Beverages, The Original Hemp-Derived THC Drink 49:14

5M ago49:14

49:14

In this episode of the Free Spirits Podcast, Lars Miller and David Gonzalez engage with Chris Fontes, CEO and founder of High Spirits Beverages, who shares his journey in the THC beverage industry. Chris discusses the inception of his company, the challenges faced with Delta 8, and the innovative launch of Trojan Horse Cannabis. He emphasizes the i…

1
How we tax property, with Lars Doucet 1:09:36

5M ago1:09:36

1:09:36

In this episode, Patrick McKenzie (patio11) and Lars Doucet, the author of Land is a Big Deal, discuss how cities determine your property's value and collect taxes. They explore how assessment offices juggle political pressures, statistical models, and technological tools while trying to maintain equity across millions of properties. They also cove…

1
Fraud levels are a policy choice 49:21

5M ago49:21

49:21

In this episode, Patrick McKenzie (patio11) offers a reading of his viral essay, "The optimal amount of fraud is non-zero" with extensive live commentary. Patrick examines payment systems, benefits programs, and pandemic-era policies, to uncover how businesses and governments often intentionally accept some level of fraud as a cost of doing busines…

1
The Happi Effect: Inside the Future of Functional THC Beverages with Lisa Hurwitz 40:04

5M ago40:04

40:04

In this episode of the Free Spirits Podcast, host Lars Miller and co-host David Gonzalez welcome Lisa Hurwitz, president and co-founder of Happi, a low-dose THC beverage brand. They discuss Lisa's unique experience of running a cannabis beverage company while living in Nicaragua, the challenges and opportunities for women in the male-dominated cann…

1
AI, poker, and mind games, with Max Chiswick 55:00

6M ago55:00

55:00

Patrick McKenzie (patio11) is joined by Max Chiswick, a former professional poker player turned AI educator, to explore how poker intersects with decision making. They discuss how the online poker boom created unprecedented opportunities to study decision-making at scale and how computational advances have transformed both the game's theory and pra…

1
From Legacy IP to Modern Markets: Cheech & Chong’s Business Playbook 43:00

6M ago43:00

43:00

Summary In this episode of the Free Spirits podcast, Lars Miller and David Gonzalez interview Brandon Harshberger, the president of Cheech & Chong's Global Holdings. They discuss the expansive operations of the company, which includes various cannabis products and beverages. Brandon shares his journey into the cannabis industry, the importance of b…

1
Boom, busts, and long term progress with Byrne Hobart 1:42:59

6M ago1:42:59

1:42:59

By popular demand, Patrick McKenzie (patio11) is joined by Byrne Hobart for a 3rd conversation to discuss Byrne’s book "Boom: Bubbles and the End of Stagnation." They explore how periods of irrational market enthusiasm often create lasting value despite their painful endings. Using examples from the 1990s fiber optic boom that enabled modern stream…

1
How money moves, with Erik Torenberg 37:21

6M ago37:21

37:21

In this episode, Patrick McKenzie (patio11) is joined by Erik Torenberg, the founder of Turpentine, to discuss the fundamentals of money movement and banking systems. Patrick breaks down how banks facilitate transfers through correspondent accounts and clearinghouses, explaining the evolution from physical check movement to digitization. They cover…

1
Exploring the THC Beverage Revolution: A Vision for the Future of Cycling Frog 43:29

6M ago43:29

43:29

In this episode of the Free Spirits podcast, host Lars Miller and co-host David Gonzalez engage with Art Massolo, VP of Business Development at Cycling Frog, a leading THC beverage brand. They explore Art's journey into the cannabis beverage industry, the lessons learned from the wine industry, and the evolution of THC beverages. The conversation d…

1
From molecule to medicine, with Ross Rheingans-Yoo 1:27:14

6M ago1:27:14

1:27:14

In this episode, Patrick McKenzie (patio11) is joined by Ross Rheingans-Yoo to discuss drug development and clinical trials. Ross breaks down how drugs progress from academic research through FDA approval, the challenging economics, and the many systemic inefficiencies in the current approval process. Patrick and Ross discuss historical cases like …

1
Picking Uncle Sam's pocket, with Jetson Leder-Luis 1:18:10

7M ago1:18:10

1:18:10

In this episode, Patrick McKenzie (patio11) is joined by economist and fraud researcher Professor Jetson Luis-Leder to examine the systemic issues underlying government program fraud. Jetson and Patrick discuss healthcare fraud cases, including hospice eligibility manipulation and ambulance transport schemes, and other fraud practices against unemp…

1
How real estate investing works with Moses Kagan 1:28:30

7M ago1:28:30

1:28:30

In this episode, Patrick McKenzie (patio11) is joined by Moses Kagan, co-founder of Adaptive Realty, ReSeed, and Reconvene. Their deep dive into real estate investing and property management covers the different classes of apartment buildings, the challenges of property management, and the complexities of financing structures in the industry. They …

1
Building a Brand in a New Market with Jason Dayton of Trail Magic 40:51

7M ago40:51

40:51

Summary In this episode of the Free Spirits podcast, host Lars Miller and co-host David Gonzalez interview Jason Dayton, co-founder of Trail Magic, a rapidly growing THC beverage brand in Minnesota. Jason shares his journey from cider making to launching Trail Magic, highlighting the challenges and opportunities in the cannabis beverage industry. T…

1
Telling the tech story 58:34

7M ago58:34

58:34

In this episode, Patrick McKenzie (patio11) and Erik Torenberg, investor and the media entrepreneur behind Turpentine, explore the evolving relationship between tech journalism and the industry it covers. They discuss how fictional portrayals of industries greatly inform how jobseekers understand those industries, and how the industries understand …

1
The hundred-year-old telegram worth $5 million, with Jim McKenzie 1:52:36

7M ago1:52:36

1:52:36

Patrick McKenzie (patio11) is joined by his father, Jim McKenzie, for an intimate and in depth exploration of commercial real estate development. They unravel the complex web of relationships, regulations, and often absurd situations that shape our built environment. From the intricacies of curb cuts and driveway permits to the art of navigating lo…

1
The Benefits and Drawbacks of Building in Public: Persistence and Iteration for Success with Aaron Nosbisch 57:46

7M ago57:46

57:46

Summary In this episode, Lars Miller and David Gonzalez interview Aaron Naschbich, the founder of Brēz, a fast-growing THC and functional beverage brand. Aaron shares his background as an entrepreneur and marketer, and how it led him to create Brēz. The brand story behind Brēz is about providing a better alternative to alcohol, allowing people to f…

1
Bits, Bytes, and Burgers with Byrne Hobart 1:26:13

8M ago1:26:13

1:26:13

Patrick McKenzie (patio11) is joined again by Byrne Hobart, writer of The Diff, for a follow up conversation about “whales” – and so much more – across the gaming, aviation, software, hospitality and fast food industries. Patrick and Byrne also discuss their writing process, knowledge management, and how they use AI tools. – Full transcript availab…

1
Decisions Nobody Made, policy edition, with Dave Guarino 1:22:26

8M ago1:22:26

1:22:26

In this episode of Complex Systems, Patrick McKenzie (aka @Patio11) is joined by Dave Guarino, a software engineer and policy wonk. They explore the complexities and challenges of public programs, focusing on SNAP aka CalFresh in California, where Dave was the founding engineer and then director. They discuss how society’s complex preferences becom…

1
True Crime, banking edition 53:12

8M ago53:12

53:12

In this episode of Complex System, the tables are turned and media entrepreneur/investor Erik Torenberg interviews Patrick McKenzie (patio11) about the intricacies of the financial system, focusing on banking, money laundering, and regulatory compliance. They discuss several of Patrick’s essays from Bits About Money. Patrick discusses the three sta…

1
That time we accidentally created national healthcare infrastructure, with Dave Kasten 1:36:06

8M ago1:36:06

1:36:06

In this episode, Patrick McKenzie (patio11) is joined by Dave Kasten, to discuss their experiences building VaccinateCA, a charitable effort that collected, collated, and distributed vaccine distribution information during the COVID-19 pandemic. (If you Googled for the vaccine, the search results likely came from VaccinateCA’s data.) They cover the…

1
The mad science of drilling the earth with Austin Vernon 1:11:23

8M ago1:11:23

1:11:23

Patrick McKenzie (patio11) is joined by Austin Vernon, a petroleum engineer, to discuss the technology and economics of fracking. Austin explains the evolution of drilling technology, the financial ecosystem supporting the oil industry – including the unique "doctor and lawyer money" funding model – and the complex interplay of mineral rights laws …

1
Balancing control and chaos: cybernetics, fraud, and modern organizations with Dan Davies 1:23:56

9M ago1:23:56

1:23:56

In this episode, Patrick McKenzie (patio11) is joined by Dan Davies, author of Lying for Money, and The Unaccountability Machine. They discuss how cybernetics–the study of control and communication in complex systems–applies to modern organizations and decision-making. Dan and Patrick discuss how organizations change as they grow, financial fraud a…

1
Energy economics and rocket science with Casey Handmer 1:25:18

9M ago1:25:18

1:25:18

Patrick McKenzie (patio11) is joined by Casey Handmer, rocket scientist turned CEO of Terraform Industries. Casey discusses the rapid advancements in solar power, the bureaucratic challenges of NASA, the incomprehensible success of SpaceX, and the evolving energy landscape. Casey touches on his experiences at JPL revealing how the organization’s fe…

1
Bet on it: Zvi Mowshowitz on professional gambling, trading, and AI futures 1:26:22

9M ago1:26:22

1:26:22

In this episode, Patrick McKenzie (patio11) is joined by Zvi Mowshowitz (TheZvi) to discuss his wide-ranging career as a professional Magic: The Gathering player, sports gambler, equities trader, public intellectual on the covid-19 epidemic, and AI-focused journalist. They go into depth on how trading happens in less formal markets with lessons tha…

1
Betting on the future via prediction markets, with Stephen Grugett of Manifold 51:57

9M ago51:57

51:57

In this episode, Patrick McKenzie (patio11) is joined by Stephen Grugett, a co-founder of Manifold, to discuss prediction markets. They cover how prediction markets work, their efficiency in aggregating information, and why they serve as a minority report against prevailing narratives. They cover past controversies, potential risks, and the philoso…

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