Stephen Grugett is a cofounder of Manifold Markets, where anyone can create a prediction market. We discuss how prediction markets can change how countries and companies make important decisions.Manifold Markets: https://manifold.markets/Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform.Episode website here.Follow me on Twitter for updates on future episodes.Timestamps:(0:00:00) - Introduction(0:02:29) - Predicting the future(0:05:16) - Getting Accurate Information(0:06:20) - Potentials(0:09:29) - Not using internal prediction markets(0:11:04) - Doing the painful thing(0:13:31) - Decision Making Process(0:14:52) - Grugett’s opinion about insider trading(0:16:23) - The Role of prediction market(0:18:17) - Dealing with the Speculators(0:20:33) - Criticism of Prediction Markets(0:22:24) - The world when people cared about prediction markets(0:26:10) - Grugett’s Profile Background/Experience(0:28:49) - User Result Market(0:30:17) - The most important mechanism(0:32:59) - The 1000 manifold dollars(0:40:30) - Efficient financial markets(0:46:28) - Manifold Markets Job/Career Openings(0:48:02) - Objectives of Manifold Markets Get full access to Dwarkesh Podcast at www.dwarkeshpatel.com/subscribe