Jacob and Rob dive into the shifting mood in U.S. markets, as post-"Liberation Day" volatility gives way to a more constrained and uncertain fiscal landscape. They unpack the massive implications of the Trump administration’s budget bill, surging yields, and declining investor confidence. The conversation then pivots to Chinese biotech, where Jacob raises the alarm about America’s declining edge in R&D, regulation, and talent retention. What follows is a sobering look at cultural skepticism, institutional decay, and whether the U.S. still believes in scientific progress. It’s glum, sharp, and deeply thoughtful. They promise to be more cheerful next time.

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Timestamps:

(00:00) - Introduction and Episode Overview

(00:38) - Current State of the US Market

(02:32) - US Fiscal Policy and Economic Outlook

(05:58) - Comparing US and Chinese Economic Strategies

(16:41 The Future of US and Chinese Biotech

(33:05) - Challenges in Biotech and Med Tech

(33:46) - China's Capital Allocation Advantage

(34:43) - Impact Capital and Social Investing in the US

(36:37) - Historical Context of US Social Welfare

(39:31) - US Biotech Industry's Unique Position

(41:24) - Immigration and Talent in US Research

(45:04) - Public Perception of Science and Progress

(50:37) - China's Rise and US Decline: A Balanced View

(52:13) - Local Resistance to Tech Development in the US

(57:36) - Concluding Thoughts on US-China Relations

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Jacob Shapiro Site: jacobshapiro.com

Jacob Twitter: x.com/JacobShap

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The Jacob Shapiro Show is produced and edited by Audiographies LLC. More information at audiographies.com

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Jacob Shapiro is a speaker, consultant, author, and researcher covering global politics and affairs, economics, markets, technology, history, and culture. He speaks to audiences of all sizes around the world, helps global multinationals make strategic decisions about political risks and opportunities, and works directly with investors to grow and protect their assets in today’s volatile global environment. His insights help audiences across industries like finance, agriculture, and energy make sense of the world.

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This podcast uses the following third-party services for analysis:

Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp