After the Iranian Revolution of 1979, the country's new leaders — religious and political — promised to redistribute the country's wealth and made moves to make Iran independent from western influence and business interests. In the decades since, Iran's economy completely transformed, and it is closer to what Yeganeh Torbati and Bozorgmehr Sharafedin describe as a "mafia state," where fealty to various factions is baked into the country's political economy. In their new book Stolen Revolution: Betrayal and Hope in Modern Iran they trace the massive changes Iran's political economy has undergone since the revolution, and they speak to us today about this history, how average Iranians navigate everyday cronyism, how Iranian leaders treated the country's burgeoning tech sector, and why the recent peace talks might not change all that much about how the country's economy currently operates. Chapters: 00:00:00 - Introduction 00:02:17 - Iran War Context 00:04:47 - Iranian Economy Overview 00:06:32 - Book Premise: Stolen Revolution Betrayal and Hope in Modern Iran 00:07:52 - The Mafia State Concept 00:10:36 - Origins of the Iranian Revolution 00:14:08 - Iran's Economic Structure 00:16:47 - Privatization and Corruption 00:19:08 - Bonyads and Invisible Ports 00:28:21 - Factional Competition 00:31:27 - Ideology vs. Self-Interest 00:34:47 - Export-Oriented Development 00:37:15 - Iran's Tech Startup Boom 00:40:27 - Tech Companies and Government Pressure 00:44:07 - Government Coordination Problems 00:49:18 - Ideological vs. Economic Priorities 00:52:32 - Future Implications Watch Bloomberg Vodcasts: https://www.youtube.com/playlist?list=PLe4PRejZgr0MS0Tqk_zQl1LVVTdWuH2Di Watch more Odd Lots episodes: https://www.youtube.com/playlist?list=PLe4PRejZgr0OJbRzA6nWybYiThLJd_ouz Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets. Join the conversation: discord.gg/oddlots Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Check out more Odd Lots: https://youtube.com/playlist?list=PLe4PRejZgr0MuA6M0zkZyy-99-qc87wKV Get the Odd Lots newsletter: https://www.bloomberg.com/account/newsletters/oddlots And for all things Odd Lots, visit https://www.bloomberg.com/oddlots #Investing #Markets #Finance #Bloomberg #Podcast #OddLots Visit us: https://www.bloomberg.com/podcasts For coverage on news, markets and more: http://www.bloomberg.com/video Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg