Tyler Cowen, author, economist and philanthropist, talks about the inspiration for his new book and the importance of talent identification in business. He believes that talent assessment is an art rather than a science and that institutions like the Florentine Renaissance, which had a competitive process for identifying talent, have been particularly good at this. Tyler also mentions the success of identifying American business talent in the Midwest during the 20th century. China has also done a remarkable job in identifying CEO talent in a world where almost no one had an MBA, and India is currently the single hottest blossoming talent spot. He discusses the trend of companies investing in spotting talent overseas, particularly for smaller companies. With the pandemic and work from a distance, the chance of hiring talent  in Indonesia or the Philippines is much higher than it was just a few years ago. However, it is harder to evaluate talent in other countries due to cultural differences and difficulty in interpreting references. And while talent is evenly distributed around the world, opportunity is not. Companies need to adapt their strategies to better identify and mobilize talent, as well as invest in international talent identification. Screening Applicants and Recruiting Talent Tips The increasing trend of independent professionals entering the international market and the importance of investing in pre-existing networks of soft contacts, Tyler suggests that companies should focus on building talent scouts or people who can help navigate different geographies around the world. He shares an example of hiring an Indian person who is well connected in India through his blog and podcast, which serves as a filter for potential applicants, reaching the people who are already aware of the company and  will take the first step of contact. He also discusses the importance of screening applicants before the interview process, focusing on established track records, but with emphasis placed on behavior and actions taken and not merely words, and entrepreneurs who demonstrated curiosity and initiative, and those who can work independently but understand how they fit into a team. He emphasizes the importance of using soft connections to winnow down the field as much as possible. For the initial screening phase, Tyler suggests using pre-existing soft networks, such as those within the company or those who know them and can speak credibly about them. This approach is the highest yield way of approaching a problem where there are a large number of potential applicants and ensures that the candidate knows enough about the company and fits in. Skills Assessment and Onboarding Talent Tyler also emphasizes the importance of clear writing skills and how companies like Amazon and Stripe prioritize this aspect. He also shares a few tips to use during the interview process, and the use of practical exercises after the interview round, such as diagnostics or walk-throughs, to assess the candidate's performance. In terms of evaluating the talent within the company, Tyler suggests investing in high levels of trust and focusing on what can be done now to build trust with employees. He shares onboarding advice, and states that focusing on mid-year or annual evaluations is not always the best approach to assessing talent.  Advice on Conducting Business Internationally Tyler shares tips on how to travel and learn about a place. He suggests walking a lot, even in places not in guidebooks, and speaking to a broad range of people. He also advises buying a physical guide book in advance and reading it, as people rely too much on the internet when traveling. Tyler also uses soft networks to connect with people who may be readers or people living in that area to help him. He shares a few stories of philanthropic adventures, including one example of a successful small venture is Timothy, a Ukrainian American economist. He discusses the idea that successful