The Grant Williams Podcast Ep. 109 - Julien Garran

In a blockbuster episode of The Grant Williams Podcast, I welcome Julien Garran of MacroStrategy for a penetrating discussion on what Julien believes is the most dangerous bubble in modern financial history—the AI mania. Drawing parallels to the dot-com and housing booms but arguing this one far exceeds both, Julien dissects how years of ultra-loose fiscal and monetary policy have produced staggering capital misallocation, distorted incentives, and a fragile financial order. He explores the structural flaws in large language models, the monopolistic grip of tech giants, and the unsustainable losses lurking beneath the surface, warning that the eventual unwinding of this bubble could reshape global capital flows, undermine productivity, and accelerate inflation across the developed world. Every episode of the Grant Williams podcast, including This Week In Doom, The End Game, The Super Terrific Happy Hour, The Narrative Game, Kaos Theory, Shifts Happen and The Hundred Year Pivot, is available to Copper, Silver and Gold Tier subscribers at my website Copper Tier subscribers get access to all podcasts, while members of the Silver Tier get both the podcasts and my monthly newsletter, Things That Make You Go Hmmm… Gold Tier subscribers have access to my new series of in-depth video conversations, About Time.

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The Grant Williams Podcast Ep. 109 - Julien Garran is an episode from The Grant Williams Podcast by Grant Williams.

This episode is 30:00 long.

This episode was published on Oct 20, 2025.

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