# Arbitrage on The No Agenda Show Arbitrage comes up in 14 chapters across 14 episodes of The No Agenda Show, from November 2009 to October 2026. - **Chapters:** 14 - **Episodes:** 14 - **Discussed:** November 2009 – October 2026 - **Related topics:** [Ad Fraud](https://search.noagendashow.net/topic/ad-fraud.md), [Adderall](https://search.noagendashow.net/topic/adderall.md), [Algorithmic Trading](https://search.noagendashow.net/topic/algorithmic-trading.md), [Andrew Horowitz](https://search.noagendashow.net/topic/andrew-horowitz.md), [Biometrics](https://search.noagendashow.net/topic/biometrics.md), [Bot Traffic](https://search.noagendashow.net/topic/bot-traffic.md), [Botnet](https://search.noagendashow.net/topic/botnet.md), [Botnets](https://search.noagendashow.net/topic/botnets.md), [Chipotle](https://search.noagendashow.net/topic/chipotle.md), [Click Farms](https://search.noagendashow.net/topic/click-farms.md) ## Chapters 1–14 of 14 ### AI Consumer Arbitrage and Andrew Horowitz Outro - **Episode:** [1908: Chivatican](https://search.noagendashow.net/episode/1908-chivatican.md) - **Published:** 2026-10-01 - **Time:** 2:05:45–2:10:36 - **Transcript:** https://search.noagendashow.net/episode/1908-chivatican/chapter/ai-consumer-arbitrage-and-andrew-horowitz-outro.md Adam Curry and Andrew Horowitz discuss how consumers can use AI bots like Muse to arbitrage prices between services like Uber and Lyft. Curry predicts this technology will eventually lower prices and shift power back to the people, despite potential impacts on stock portfolios. The segment concludes with Horowitz's departure from the studio and a humorous critique of a nasal-voiced weatherman. Keywords: [chipotle](https://search.noagendashow.net/topic/chipotle.md), [muse](https://search.noagendashow.net/topic/muse.md), [uber](https://search.noagendashow.net/topic/uber.md), [lyft](https://search.noagendashow.net/topic/lyft.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [andrew horowitz](https://search.noagendashow.net/topic/andrew-horowitz.md) ### Mimi Dvorak, Vintage Mink Coats, Craigslist Arbitrage - **Episode:** [1889: Producer's Tribute to JCD](https://search.noagendashow.net/episode/1889-producer-s-tribute-to-jcd.md) - **Published:** 2026-07-27 - **Time:** 1:45:35–1:47:18 - **Transcript:** https://search.noagendashow.net/episode/1889-producer-s-tribute-to-jcd/chapter/mimi-dvorak-vintage-mink-coats-craigslist-arbitrage.md A host describes his wife Mimi's long-term investment strategy of purchasing vintage mink coats on Craigslist for approximately $100. These items, often originally valued at $8,000 in the 1930s, are viewed as high-value assets despite modern cultural opposition to fur. The segment concludes with a recommendation for listeners to seek out these expensive garments in specific regions of the United States where they are sold for negligible prices. Keywords: [mimi dvorak](https://search.noagendashow.net/topic/mimi-dvorak.md), mink coats, [craigslist](https://search.noagendashow.net/topic/craigslist.md), vintage fur, [arbitrage](https://search.noagendashow.net/topic/arbitrage.md) ### Scott Bessent on Economic Security and Oil Arbitrage - **Episode:** [1855: Gooder](https://search.noagendashow.net/episode/1855-gooder.md) - **Published:** 2026-03-29 - **Time:** 40:16–42:41 - **Transcript:** https://search.noagendashow.net/episode/1855-gooder/chapter/scott-bessent-on-economic-security-and-oil-arbitrage.md Treasury official Scott Bessent argued during a cabinet meeting that U.S. economic strength is a critical component of national security in the conflict with Iran. Bessent predicted that the military operation would eventually lead to lower energy prices and absolute global security. Meanwhile, market observers noted complex oil arbitrage strategies involving $77 puts and $115 calls to manage risk during the regional volatility. Keywords: [scott bessent](https://search.noagendashow.net/topic/scott-bessent.md), [national security](https://search.noagendashow.net/topic/national-security.md), [energy prices](https://search.noagendashow.net/topic/energy-prices.md), [oil market](https://search.noagendashow.net/topic/oil-market.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [inflation](https://search.noagendashow.net/topic/inflation.md) ### Iran-Venezuela Oil Swaps, Ghost Ships and Arbitrage - **Episode:** [1833: Spicy Mode](https://search.noagendashow.net/episode/1833-spicy-mode.md) - **Published:** 2026-01-11 - **Time:** 30:06–32:34 - **Transcript:** https://search.noagendashow.net/episode/1833-spicy-mode/chapter/iran-venezuela-oil-swaps-ghost-ships-and-arbitrage.md Reports indicate that Iran and Venezuela have engaged in oil swaps using "ghost ships" to bypass sanctions and manage refining limitations. These operations involve transferring oil between vessels at sea, changing flags, and using fake transponder codes to facilitate global arbitrage. Keywords: [iran](https://search.noagendashow.net/topic/iran.md), [venezuela](https://search.noagendashow.net/topic/venezuela.md), oil swaps, ghost ships, [arbitrage](https://search.noagendashow.net/topic/arbitrage.md) ### Noel Casler Claims and the Arbitrage Anecdote - **Episode:** [1638: Test Tube Babies](https://search.noagendashow.net/episode/1638-test-tube-babies.md) - **Published:** 2024-02-29 - **Time:** 29:43–33:24 - **Transcript:** https://search.noagendashow.net/episode/1638-test-tube-babies/chapter/noel-casler-claims-and-the-arbitrage-anecdote.md Comedian Noel Casler claimed in a viral clip that Donald Trump suffered from drug-induced incontinence during the filming of The Apprentice. Casler alleged that Trump once had a physical reaction to the word "arbitrage" on a cue card, though critics point out that the drugs mentioned typically cause the opposite physical effect. Keywords: noel casler, [the apprentice](https://search.noagendashow.net/topic/the-apprentice.md), keith schiller, [adderall](https://search.noagendashow.net/topic/adderall.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md) ### European Banking Crisis, Deutsche Bank, Negative Interest Rates - **Episode:** [1154: Goldfish Invasion](https://search.noagendashow.net/episode/1154-goldfish-invasion.md) - **Published:** 2019-07-14 - **Time:** 56:49–1:00:20 - **Transcript:** https://search.noagendashow.net/episode/1154-goldfish-invasion/chapter/european-banking-crisis-deutsche-bank-negative-interest-rates.md European banks, led by Deutsche Bank's massive layoffs, are struggling to compete with U.S. financial institutions due to a failed experiment with negative interest rates. This economic environment has allowed U.S. banks to dominate mergers, acquisitions, and IPOs as global capital flows toward the positive yields of American treasuries. The resulting arbitrage has effectively strengthened the U.S. banking system at the expense of the Eurozone's financial stability. Keywords: [deutsche bank](https://search.noagendashow.net/topic/deutsche-bank.md), [eurozone](https://search.noagendashow.net/topic/eurozone.md), [negative interest rates](https://search.noagendashow.net/topic/negative-interest-rates.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), us banks ### Netflix Financial Sustainability and Value-for-Value - **Episode:** [1118: Birth Strike](https://search.noagendashow.net/episode/1118-birth-strike.md) - **Published:** 2019-03-08 - **Time:** 1:56:37–1:59:48 - **Transcript:** https://search.noagendashow.net/episode/1118-birth-strike/chapter/netflix-financial-sustainability-and-value-for-value.md Netflix faces long-term financial challenges due to the high cost of original content production and the need to constantly raise subscription prices. This "arbitrage" model is contrasted with the "Value-for-Value" model used by the podcast, which relies on direct community support rather than intermediaries or advertising. The hosts argue that a network of producers is more sustainable than a network of shows. Keywords: [netflix](https://search.noagendashow.net/topic/netflix.md), [value-for-value](https://search.noagendashow.net/topic/value-for-value.md), [streaming](https://search.noagendashow.net/topic/streaming.md), content production, [arbitrage](https://search.noagendashow.net/topic/arbitrage.md) ### Newsweek Ad Fraud and Online Traffic Arbitrage - **Episode:** [1007: Tactical Frustration](https://search.noagendashow.net/episode/1007-tactical-frustration.md) - **Published:** 2018-02-11 - **Time:** 2:16:48–2:25:07 - **Transcript:** https://search.noagendashow.net/episode/1007-tactical-frustration/chapter/newsweek-ad-fraud-and-online-traffic-arbitrage.md Newsweek and International Business Times are under investigation for fraudulent traffic practices used to secure government advertising contracts. The scheme involved "arbitrage," where publishers buy cheap traffic from click farms in the Philippines or India and resell it to advertisers at a higher rate. The hosts argue that the current digital advertising model is fundamentally broken and prone to systemic fraud. Keywords: [newsweek](https://search.noagendashow.net/topic/newsweek.md), [ad fraud](https://search.noagendashow.net/topic/ad-fraud.md), [click farms](https://search.noagendashow.net/topic/click-farms.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [philippines](https://search.noagendashow.net/topic/philippines.md), [digital marketing](https://search.noagendashow.net/topic/digital-marketing.md) ### OZY Media, Ad Fraud and Bot Traffic - **Episode:** [994: Scromit](https://search.noagendashow.net/episode/994-scromit.md) - **Published:** 2017-12-28 - **Time:** 2:11:47–2:17:39 - **Transcript:** https://search.noagendashow.net/episode/994-scromit/chapter/ozy-media-ad-fraud-and-bot-traffic.md OZY Media is facing scrutiny from major advertisers like Procter & Gamble and Unilever over allegations of bot traffic and fraudulent video views. The company's business model is described as a form of "arbitrage," where traffic is purchased at low rates to inflate numbers for advertisers and investors, a common practice in the digital media industry. Keywords: [ozy media](https://search.noagendashow.net/topic/ozy-media.md), [ad fraud](https://search.noagendashow.net/topic/ad-fraud.md), [bot traffic](https://search.noagendashow.net/topic/bot-traffic.md), [procter & gamble](https://search.noagendashow.net/topic/procter-gamble.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [digital advertising](https://search.noagendashow.net/topic/digital-advertising.md) ### Russian Botnet Ad Fraud and White Ops Report - **Episode:** [888: Dutch Trump](https://search.noagendashow.net/episode/888-dutch-trump.md) - **Published:** 2016-12-22 - **Time:** 1:06:56–1:12:19 - **Transcript:** https://search.noagendashow.net/episode/888-dutch-trump/chapter/russian-botnet-ad-fraud-and-white-ops-report.md A report from cybersecurity firm White Ops alleges a massive Russian botnet is defrauding the digital ad industry of millions of dollars daily. The hosts argue that this is actually "arbitrage," a practice common among U.S. startups to inflate metrics. They suggest the story is being promoted to benefit mainstream television by discrediting digital competitors like Facebook and YouTube. Keywords: white ops, [botnet](https://search.noagendashow.net/topic/botnet.md), [ad fraud](https://search.noagendashow.net/topic/ad-fraud.md), [russia](https://search.noagendashow.net/topic/russia.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [cnn](https://search.noagendashow.net/topic/cnn.md) ### George Soros, Ukraine Investment and Arbitrage Strategy - **Episode:** [709: Terror Factory](https://search.noagendashow.net/episode/709-terror-factory.md) - **Published:** 2015-04-02 - **Time:** 31:48–34:28 - **Transcript:** https://search.noagendashow.net/episode/709-terror-factory/chapter/george-soros-ukraine-investment-and-arbitrage-strategy.md George Soros announced a potential $1 billion investment in Ukraine, contingent on Western private investment support. Critics point to the role of Soros-funded NGOs in the Maidan coup as a precursor to his current financial interest in the region. Soros is described as a master of arbitrage, a strategy involving the exploitation of price discrepancies across different markets to generate profit. Keywords: [george soros](https://search.noagendashow.net/topic/george-soros.md), [ukraine](https://search.noagendashow.net/topic/ukraine.md), maidan coup, [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [stock market](https://search.noagendashow.net/topic/stock-market.md) ### Internet Advertising Scam, Federated Media Layoffs - **Episode:** [509: DeDe Dinah](https://search.noagendashow.net/episode/509-dede-dinah.md) - **Published:** 2013-05-02 - **Time:** 2:38:37–2:43:18 - **Transcript:** https://search.noagendashow.net/episode/509-dede-dinah/chapter/internet-advertising-scam-federated-media-layoffs.md A discussion at a Lexus rollout event reveals that Federated Media recently laid off 90 people due to a decline in online advertising revenue. The hosts argue that the entire internet advertising industry is a "scam" involving botnets and click farms in India and the Philippines. They predict a major collapse of the "arbitrage" model. Keywords: [internet advertising](https://search.noagendashow.net/topic/internet-advertising.md), federated media, [layoffs](https://search.noagendashow.net/topic/layoffs.md), [click fraud](https://search.noagendashow.net/topic/click-fraud.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md) ### Ad Fraud, Botnets and Arbitrage - **Episode:** [386: Balochistan Baloney](https://search.noagendashow.net/episode/386-balochistan-baloney.md) - **Published:** 2012-02-26 - **Time:** 15:15–18:09 - **Transcript:** https://search.noagendashow.net/episode/386-balochistan-baloney/chapter/ad-fraud-botnets-and-arbitrage.md The conversation explores the mechanics of online advertising fraud, specifically the use of botnets and "SEO experts" in India to generate fake clicks. This practice, described as arbitrage, allows companies to inflate performance metrics for venture capitalists. The hosts also mention the involvement of former Google executives in the Obama administration to leverage analytical data for political redistricting. Keywords: [ad fraud](https://search.noagendashow.net/topic/ad-fraud.md), [botnets](https://search.noagendashow.net/topic/botnets.md), seo experts, [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [facebook](https://search.noagendashow.net/topic/facebook.md), [vivek kundra](https://search.noagendashow.net/topic/vivek-kundra.md) ### Goldman Sachs High-Velocity Trading, Subway Biometrics - **Episode:** [147: Podcast Award Nominees](https://search.noagendashow.net/episode/147-podcast-award-nominees.md) - **Published:** 2009-11-11 - **Time:** 1:19:56–1:21:30 - **Transcript:** https://search.noagendashow.net/episode/147-podcast-award-nominees/chapter/goldman-sachs-high-velocity-trading-subway-biometrics.md The hosts discuss online forums where programmers openly detail high-velocity trading algorithms used by Goldman Sachs for derivatives and arbitrage. Additionally, they examine security footage from the New York City subway that appears to show advanced biometric tracking and individual recognition boxes following passengers in real-time. Keywords: [goldman sachs](https://search.noagendashow.net/topic/goldman-sachs.md), [algorithmic trading](https://search.noagendashow.net/topic/algorithmic-trading.md), [arbitrage](https://search.noagendashow.net/topic/arbitrage.md), [biometrics](https://search.noagendashow.net/topic/biometrics.md), [facial recognition](https://search.noagendashow.net/topic/facial-recognition.md) --- This is the markdown version of a page on The No Agenda Show for AI agents. Every public page on this site has one: add `.md` to its URL, or request it with `Accept: text/markdown`. - [Site index for agents (llms.txt)](https://search.noagendashow.net/llms.txt) - [Home](https://search.noagendashow.net/index.md) - [Search transcripts](https://search.noagendashow.net/search.md) - [All episodes](https://search.noagendashow.net/episodes.md) - [Topics](https://search.noagendashow.net/topics.md) - [People](https://search.noagendashow.net/people.md)