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TBPN Podcast Episode Notes
Episode Overview
- Title: LA Fires Continue, Max Long Caruso, Tech Award Show, F40 Modifications
- Podcast: TBPN (Technology's Daily Show)
- Streaming Schedule: Monday - Friday from 11 AM - 2 PM PST
- Available On: X, Apple Podcasts, Spotify, and YouTube
Episode Summary In this episode, the hosts discuss the ongoing fires in Los Angeles, conduct a deep dive on businessman Rick Caruso, engage in Q&A, and cover various tech-related topics. The hosts share personal experiences related to the fires, tech news, and fascinating discussions about business models, urban development, and the interplay between technology and community welfare.
Episode Breakdown
- LA Fires Update (00:00 - 12:55)
- Hosts share personal stories of being affected by the LA fires.
- Loss of power, internet, and basic services.
- Discussion on the impact of the fires on the community and local businesses.
- Mention of the utility providers’ response to the crisis.
- Acknowledgement of innovative technologies aiding communication during disasters (e.g., satellite messaging via iPhone).
- Rick Caruso Deep Dive (12:55 - 37:37)
- Who is Rick Caruso?
- Businessman and real estate developer known for creating community-centric developments.
- Community Developments:
- Discussion on Caruso's properties such as Palisades Village and The Grove.
- Emphasis on creating safe, enjoyable environments through significant investment in security and design.
- Contrasts between Caruso's methods and those of current political leadership in LA (mayor's effectiveness criticized).
- Political Aspirations:
- Discussion of Caruso's previous run for mayor and potential future candidacy.
- Insights on political strategies and community engagement.
- Q&A Segment (37:37 - 44:24)
- Questions from listeners regarding various topics, including tech innovations, disaster management, and urban strategies.
- Discussion on the role of technology in enhancing community resilience and safety.
- The Timeline (44:24 - End)
- Overview of trending topics in technology and business.
- Discussions on tech awards and the need for recognition in the tech space.
- Considerations on future trends and how they affect various industries.
Key Themes and Takeaways
- Community Resilience: The necessity of fostering community ties and leveraging technology to maintain communication during crises.
- Urban Development: Rick Caruso's contributions to urban design emphasize safety and community enjoyment, contrasting with less effective political leadership.
- Tech in Crisis: The role of technology in disaster response, including satellite communications and innovative solutions for connectivity.
- Recognition in Tech: The importance of establishing award systems in tech that celebrate not just financial success but also product innovation and societal impact.
Important Quotes
- "Having access to the internet if the grid goes down is vital for communication."
- "Caruso represents a vision of LA that many people want: safe, enjoyable, and family-friendly."
- "You can either work for a liberal tech company or a conservative tech company—those are your choices."
Closing Remarks The episode ends with a focus on the importance of community engagement and the evolution of tech in supporting urban resilience against disasters. The hosts encourage listeners to proactively seek improvement in their localities through technological and community initiatives.
For more information, follow TBPN on their platforms or check their website: [TBPN.com](https://TBPN.com).
Written by AI. May contain mistakes. Listen to the episode to check what was said.
Transcript
Automatic transcript. May contain errors.0:00Welcome to Technology Brothers, the most profitable podcast in the world. Jordy is back in the studio. He made it out alive. Half of his city has burned down. Half of my city has burned down, but we are here recording, bringing you the news and the breakdowns. And we're still on the topic of the fire. We're going to do a breakdown on Rick Caruso, who a lot of people have been talking about. But first we wanted to do a little unboxing of a Starlink I picked up yesterday from Best Buy. Not a lot of people have heard about this device, but it is really wild. You can get internet almost anywhere in the world.
0:34Yeah. And we should just set ours up right here on the table. Yeah, a couple hundred bucks. And it comes with a big, long power cable. I got a power brick too. And I'm very excited to get this set up. I'll definitely be traveling with this because I don't want to get caught lacking without Wi-Fi anywhere. But very, very cool device. I'll have to figure out how to put this together. But pretty simple. You just kind of aim it at the sky. And as long as you can see the sky, you have. So it's interesting. I was actually using satellite messaging on the iPhone. Oh, really? I was working well? I've seen that.
1:09It's interesting. So the way that it works is if. So during. Starting like 48 hours ago, I completely lost cell service, power, gas, et cetera. Basically, my neighborhood was totally in the dark. So we were trying to figure out what was going on. um yeah two nights ago uh the fire was really starting to pick up the wet this was wind was still picking up and um so yeah i've had pretty good success with the iphone satellite imagery i don't know what the tech is actually based on but if you've never had this happen basically if you lose all cell coverage it'll pop something up that says you want to send messages and you really can't do much you can't send images but you can send text-based messages and you just have to get outside and it actually has a pretty interesting so i think it's on the older satellite network not the low earth orbit so it has links it's on like one web via web or one web yeah it's the pg thing one web is the bigger satellites yeah so they're big i think they're geostationary in higher orbit so the delay is crazy the delay is crazy never do and they give you this little graphic you actually have to like aim your phone in a certain way to try to get the messages out but I'm super stoked.
2:23But good in a pinch. Yeah, this is great. So yeah, I've been recommending that everyone get one of these, especially if you're a founder doing important work, doing deals. You never want to be without internet. Yeah. So pick one up. And shockingly, they were still available. And Elon's giving out a bunch to people that are in affected disaster areas and hopefully keeping people online and communicating. I mean, it's funny to joke about doing deals and just reading posts, but like having access to the internet if the grid goes down and the yeah i actually didn't have one and really i didn't have also didn't have power yeah you need the battery so the crazy thing is my neighborhood so you can get a battery pack that will run this for days so i don't know if you know this but yeah my the house i bought last year was a fire rebuild it had burned to the ground no way literally to the dirt in 2018 and so my entire neighborhood's pretty savvy around fires that are sort of used to it and so most people have these gas powered generators that just use natural gas yep and so when all the power was cut off everybody was like okay their generators flick on in 30 seconds and then they cut the gas lines for some reason which everybody was like why are they cutting the gas lines they run underground but then it turns out that the gas lines for western malibu where i am run through eastern malibu and so we're now looking at potentially multiple socal edison the utilities provider for gas said that they will have to send uh somebody individually to your home every single home in all of in all of malibu uh to get the gas actually turned back on um so we're now looking at probably at least two weeks something like that until and and so no no hot water nobody has gas right now bad day to be a mini bar at a five-star hotel yeah yeah exactly um so yeah stayed at a hotel last night which was which was great until we woke up and their hvac system was pumping the outside air into the house so i woke up i have a six six month old and uh with like some type of respiratory thing and it smelled like somebody had been smoking like chain smoking heaters in the room uh for hours so uh anyways got out of their families now in in palos verdes which uh has better air quality rico drop by yeah yeah yeah augustus it smelled like when we woke up in the room it smelled like augustus rico had had ripped through four packs wow yeah just grinding just grinding just grinding this is not a co-working space but yeah i actually i mean we don't need to go into this now but i do think that um uh it it in in a world where rainmaker can deliver rain anywhere it's going to be extremely valuable because you look at we just lost 100 probably hundreds of billions of dollars worth of damage i don't know what the exact number is yet yeah they're throwing around 55 billion right now but that's early estimate early early estimate um and and by the way last night was wild too I mean everybody was just hyper fixated on the timeline kind of watching this stuff unfold and then the sunset fire popped up and then all these AI generated images of the Hollywood sign people were starting to share that around that were fake but there was I mean that looked really bad and and apparently it was was arson so yeah anyways dark times but the show must go on well here we are nikita is advocating for the the the hero we need the dark knight rick caruso he says uh if you didn't vote even if you didn't vote for real estate tycoon rick caruso in la's last mayoral election you're basically a moron if you don't do it this time since we're going to have to rebuild the entire city 3k likes and gabby goldberg said they were morons the first time too for what it's worth yeah and uh then nikita kind of unrelated says i live a block away from karen bass the current mayor of la so yesterday's fire in my canyon was put out in 30 minutes sleeping like a baby tonight taking shots at the current man but yeah so so i don't know if you remember when the election election night rick and karen bass were totally head-to-head yeah election night yeah it seemed like rick was going to be able to pull it off yep but then um i was at a fundraiser event for uh nathan hockman who's a new lada that rick uh was backing and they talked a little bit about the ballot harvesting that the left does in l which they have this like ridiculous ground game where they basically walk around it's called fortifying yeah they walk around with ballots that are pre-filled out yeah they just you can they walk through homeless encampments and say sign this hey can you please sign this and that's fully legal wow and And so as the day after the election and the following days, Karen just like had turned into almost a landslide.
7:25So who knows all the details? I won't, if I had to talk anymore, I'd throw on the tinfoil hat. But either way, when Rick lost, it was many people in the community were pretty devastated because if you go to Rick's spaces, you look around. If you go to the Palisades Village, which is one of his developments, you see like groups of children running around by themselves like having fun it's it's it's the kind of environment that i grew up in as a kid in a small town where parents would give their kids five ten dollars and say go go have a nice like evening and then you could go hang out at the mall but you don't see that you don't see that in la at all not at all groups of like 10 10 year olds running around it just doesn't happen but it still happens on uh properties yeah Yeah, he said that his goal for the Grove is, like his imagined avatar, is a mother pushing a stroller with a baby should feel safe at all times.
8:29Yep. And what that requires is inordinate investment in private security. They have off-duty LAPD officers who actually open carry a sidearm. They used to be discreet, kind of undercover, and then they change this to show the gun. And they also have facial recognition cameras, license plate scanners, a bunch of different technology that's all put together. And it's hilarious to contrast. I was listening to a podcast of him talk about all the technology that they use and how they integrate everything at the Grove to keep it safe. And then meanwhile, Karen Bass is doing a press junket, press conference and says, you can find more information about the fire at URL.
9:11l yeah and it's like one of the most insane moments i mean her her you know she coming back from ghana she was not going to have a good time right like she was briefed on the fires on monday decided to stay in ghana really yeah oh no yeah she was fully briefed i mean we knew so so i knew i knew sunday night i'm so trained now that when the santa ana winds get really intense that fires are coming okay so so we knew our power was going to get shut off sunday they were already telling us your power oh yeah you were texting about getting a generator i remember that on monday yeah and so so everybody knew this was pending she knew this was pending she decides to stay in ghana she comes back immediately she's getting off the plane i don't know if you saw this video i was making a joke about it but she's fully npc mode you know your your talks you know some this reporter's talking to her and she's like a legitimate reporter i'm pretty seriously pretending yeah pretending that she's like not hearing it or whatever so obviously you know not a great response there she could have showed some amount of empathy saying yeah it's terrible like i'm rushing back happy to be back you know a lot of ways that she could handle that and then and then clearly wasn't even processing what she was reading uh you know we we we do a bit of writing and do a bit of newscasting here when we're reading stuff out i think we would notice if it's go to grok.ai but it says go to and go to url go to url check it out let us know what you things it's a true ron burgundy moment yeah it's bad um but anyways uh yeah and everything so so everything that caruso represents is what a lot of people wanted for la right security family environments strong so his his properties are some of the best performing from retail standpoint yep in in the country like in the top five percent so he knows how to how to get people places the whole like post-covid mall apocalypse where there's a lot of empty retail chains not at Caruso properties.
11:08Yeah. And I, and I, and I, you know, go to the Palisades village multiple times a week. It's, it's fantastic. I bring my family there. It's, it's a really great environment. So a lot of people, you know, the best evidence that he would have been a great mayor is being at his properties. Right. And so when, when, when Bass was elected, it was devastating in the moment. She quickly had, um, she quickly had her home robbed by criminals and uh she had loose guns in her house so they they they the criminals managed to steal guns that were not in safes yeah um so right away that was like a sort of not a great omen for for her yeah um but i mean that seems kind of cool to just have like guns everywhere in your house like with that safe so it's cool to lock up your guns if uh does she have like an indoor firing range is she one of those people where you walk in there's the wall of just all the guns american flags to a that'd be super yeah just like yeah oh yeah i got an ffl and apparently she has a dueling apparently i got the switch on my ak-47 chess piece that's just dueling ar-15 yeah yeah yeah she's getting like the military hardware there you know you get a fully automatic uh m4 it's like i thought that was military only it's like yeah it was yeah till i was it got my my firearms dealer license and i can get silencers in california now yeah anyways sad dark um I wish he was doing a great job, but unfortunately, Rick was always my guy.
12:41We don't discuss politics on this, but he was my guy because he's a phenomenal businessman. Yes. And he has created billions of dollars of value for himself. And he has a wonderful watch collection. He also has a wonderful watch collection. Yeah, let's go through it. But let's get into this. He was born in 1959. 1959. And father started a small business, was a small business owner, dollar rent a car. Yep. Not super small, but it would have started relatively small. So his father started as a small business owner, was an Italian immigrant, which he credits to his work ethic. So he goes to USC. Then he goes to Pepperdine Law School, graduates, becomes a lawyer, works at this law firm called Finley Cumble.
13:32And in 1987, I believe, that law firm goes bankrupt, which I didn't even know was really possible for a law firm because it's a services business. You'd think you'd just adjust prices and stuff. I don't know how that happened, but the whole law firm explodes, collapses, his boss does go on to use debt pretty well so it's possible that the law firm had levered up in some way and that was the cause of it the only thing we skipped over that i think is relevant his mother was a billboard model in her youth which is cool because we love ads yeah um but it's funny to think about there was just mod there were billboard models like a model that specifically would just model for billboards like i don't do magazines yeah i work best on a bill no tv billboards only um but it makes sense the guy is an absolute stud very handsome you can see um you know maybe in another life he would have skipped being a lawyer and a billboard real estate developer maybe a tiktoker maybe an instagram guy if he was born in 2005 he would have been a tiktoker had the broccoli hair and shilling ag1 yeah um so he quit his uh so he transferred he gets out of this law firm that's collapsing his boss comes in kind of puts a check on his table and says hey the law firm's going bust this is your last check you better cash this today because it might not yeah it might not clear tomorrow uh he has always wanted to do real estate he said he was doing corporate law didn't really like it saw that it wasn't his uh life's work and so he started a uh real estate development company first deal he does is buying parking lots and he uses his connection with his father at dollar rent a car to act as the anchor tenant of these parking lots this is my opinion on uh on the people in life that that have uh that that have the potential to benefit from nepotism yep I believe it is your duty to, to maximum, to, to maximally utilize that, that, that, that advantage relationship, whatever.
15:36And so what he did is really smart. Rick wanted to buy buildings and, uh, in real estate, if, if, if a bank is going to lend against a property, they want to know that there's some type of income stream cashflow associated with that property, right? It's a business that has no tenant in it is not worth the same as, as a business that has a 10 year lease or 20 year lease. And so what Rick would do is he would go, he'd find a place he wanted to buy. He would get his dad, presumably to write from dollar rent a card to write an LOI saying, if you buy this property, I will lease it for X number of years.
16:12And so then he would take that LOI to the bank and say, look, I have this great tenant, let rent me, rent me this, you know, sell, you know, help me buy this building. And so that little bit of alpha, you know, he was able to snowball into a four billion dollar fortune so if you have a dad that owns a small rental car business leverage that uh into accumulating four billion dollars it really i mean it really does like it's a perfect encapsulation of what it means to be like a deals guy yeah because i think too many people think about the deal is like one way like i just need the the the tenant or i just need the bank and really it's like he is creating almost like an arbitrage like the bank wants to lend to a parking lot that has a relationship with dollar rent a car he's acting as the intermediary there and i mean we've seen this with with the work that we've been doing where once you start getting deals going on both sides of the equation and you can even view like a startup as this where it's like okay there's a amazing ai software developer who's going to join the team if you get you know a venture fund to lead your seed round and you kind of got to play both sides and then the really good deals guys can get both of those done match them up and then the value creation starts from there.
17:26Um, and the guy's just become a beast. I mean, he's, he's amassed this like insane portfolio in Southern California, the Grove at farmer's became so interesting enough about the origin. He became, he's very well known for not selling any of his properties. So he's the sole investor in his properties, but then he never sells. He just, he just benefits from the appreciation and the cashflow. Um, but early on the lots that he would do with his father he did sell those so he used that to basically accumulate the seed capital that would allow him to do the bigger so he doesn't have like a real estate fund where people are trying to get out in a certain timeline he's not flipping things he really is in for in it for the long term and you see this with other retail with other uh real estate projects where someone comes in and they pass it on to the next person and that next person isn't thinking about long value creation cycle that's going on.
18:21And yeah, he has this interesting framework for thinking about how he creates value at a place like The Grove. So he says that we have customers and then we have guests. And the customers are actually the retailers, the Apple Store, Nordstrom's. And for a long time, an indoor mall was basically you have two anchor clients at one end, Macy's at one end, Nordstrom's at the other. And then I think they pay nothing. Like you make essentially no margin off of them. And then everyone else in the middle, you hopefully fill in and make money off of them. And I think he kind of flipped that around and said, okay, this doesn't make any sense.
19:00There's like a much better way to do this. Seeing kind of all the tenants equally as customers and then really focusing on the guest experience and getting them to invest. And he's giving them a phenomenal product, which is places that, The one commonality that you see across his properties is people just really enjoy being at them. Totally. Very simple. He's creating an environment that's safe, that's fun, that's clean. It's everything that you want a city to be, but it's just these sort of micro cities. And it's always remarkable when he does it because it's like, how did they close down this street?
19:33It's so hard. But once you actually enclose that, it just becomes this wonderful oasis to walk around in. yeah and it's the it's the it's uh what's that name it's like the type of mixed use uh dynamism that people don't want you to have walkability that people don't want you to have caruso figured out mixed use uh seriously yeah yeah so one thing so he didn't do uh uh residential at the grove and everyone was like we want to live here and so now he's been doing residential in the new projects because yeah the palisades village i think has some apartments around it um so one thing that's interesting too about you know early on he leveraged his his father's business in order to create you know a meaningful business himself which was smart the other thing is that early on when he was doing his first you know development he he even admitted to himself he didn't have the clout to attract coveted retailers like bristol farms and barnes and noble and so what he did is he didn't focus on on the the retail side uh the retailer side he went and focused on the public side he he did everything he possibly could to make the public uh love what he was doing which i think was super important yeah um and we should go through some of his uh tenets of like designing spaces this human-centered design focuses on the emotional impact of real world details like height of curbs the crown on streets feeling of open space he says quote our minds catch what's real the more real it is the more organic it is the more comfortable you are in that space and you really feel that at the grove when you're like not tripping over things even like the manhole covers are like you know flush and stuff so you're not just like all these little like things that just kind of jar you out of it don't happen it really does feel like yeah disneyland italy he's very inspired by these places um i love his story about the groves trolley he uh it was built from the ground up people said why the heck are you putting in a trolley it doesn't go anywhere but its purpose was to bring people here to enrich their lives to give them joy and so kids will say i want to go ride the trolley yeah my son loves smart loves trains yeah he basically was thinking of these as creating these almost mini disneyland yeah exactly like it's really a destination yeah and the trolley is a crazy story because that needed even though it just goes one block it needed to be licensed as a train.
21:54So we had to go through all the train regulations to get it approved. And so he's been someone who's pushed through all this red tape, but also can see the other side of like, okay, maybe we need a more efficient system on the government side to get things done. And he joked that on a number of passengers per mile, it is the most productive train in the world because it just moves dozens of people back and forth one block. And it does more than like the Manhattan train system. It's very, very funny. Yeah. So there's a quote in here that says, Rick is extraordinary at reading the market and the consumer in the area that he's building something.
22:34So he had started with a property that was called Lake Havenhurst, which was a development that originally went bankrupt that another developer was working on. And he took it over. and one of the things that he notoriously did early on is the the residents were so against the development this was in encino one he he started including them in the process of developing the space so he at one point took uh part of the he took residents to go out and start like picking out trees that would go on the property he said you know i understand if you don't you know want the development but why don't you come with me let's go look at some true let's go pick out some trees for the property so he literally you know paid to to transport all these people and made them feel included in the design process so he basically was making the residents to give you a technology design partners in the development and so he started that you know he he everywhere he went he would make these sort of grassroots movements around working with local hoa leaders working with local residents like he started with the residents which are his guests and by making them love what he was doing he was able to attract the uh the customers which he he considers the retailers right because he's not directly monetizing yeah the the guests right yeah there's a bunch of stories about him having to do a bunch of deals and build coalitions when in 2011 when he was building the americana brand he went to nordstrom who i think he already had a relationship with because I listened to him on the Nordstrom podcast, which I didn't even know was a podcast.
24:15Great show, check it out. Nordy Pod or something, that's a funny name. But he wooed Nordstrom away from the rival Glendale Galleria and will bring the department store to his Americana at Brand Shopping Center in fall of 2013. And there was this big fight with General Growth, which I think owned the Glendale Galleria and they sued and they had a ballot measure to block the building of the americana americana brand he got it all through and now he says he's excited to be working with them uh and they have come through their difficulties and the past is the past and there's there's always been this like dynamic with the glendale galleria and the americana brand where some companies like glenn the glendale galleria is a little bit cheaper it's an indoor mall and so some businesses if they're don't have the right margins they'll move over there and it kind of like flows back and forth interestingly apple actually maintains stores at both because i guess they can just afford that um it's probably like yeah it's interesting his projects all have taken he he made he's made the perfect developments for la which has 300 days a year of sunlight so why build these why build these fully indoor malls totally totally um that's one of the reasons of palisades village is so nice is you have the benefits you have you have uh uh saint laurent you have bottega veneta you have all these you know lululemon you have like all these nice retailers yep but it's set up in a way where you can walk around outdoors and sit on the grass and and i see it every place like uh i mean rodeo drive is like this where it is cool because it's like the single lane you see a lot of cool hyper cars which is honestly awesome but how much cooler would that be if they just shut it shut down a couple blocks of that and you could just walk across at any moment uh same thing in old town pasadena i've been beating the drum of they should shut down that couple blocks in colorado and make that the same type of crusoe style open walkability and a lot of cities were experimenting with that during covid um because they you know they need more outdoor dining so they kind of moved all onto the street and then people realized like maybe we didn't need those extra 10 parking spaces maybe we should move a little bit further I think New York just shut down or a couple years ago shut down Times Square right so you can walk around constantly and just doing a few of those where they're not going to really throw off the flow of traffic is great or bury the streets if you have the ability to tunnel and then people can still drive exactly like they would but you have a bunch of walkable space above it's so it's So him losing the last election is so devastating because his body of work is truly he's created.
26:59What do you want a city to do? You want it to be highly enjoyable, livable, safe, a place where commerce can thrive. And that's what all of his spaces have become. Almost 100 percent hit rate. And it wasn't enough. It wasn't enough proof to win the election. Yeah. I liked him on this Onward Fundrise podcast. They go into more of like the macro side of the finance of real estate investing. And this is from earlier this year. They were talking about potential recession in 2024 and how much rates had climbed for them from 3 % to 6 % and for a lot of businesses up in like the 10, 11, 12, 13%. but he goes back to the surviving the SNL, the savings and loan crisis in 2008.
27:50Crusoe stresses having enough liquidity to take advantage of opportunities when disruption occur, calling it being a bit of a warrior. You've got to get ready for battle. He says he stresses preparedness over reaction. He points out that where I see companies getting in trouble is their reactionary, emphasizing early anticipation and cutting costs quickly in uncertain times. I mean, we certainly saw that with startups when SVB collapsed and the market and the interest rates went wild and a lot of the VCs pulled back on funding. The companies that cut their burn, like the same day that YC issued that letter saying, hey, this is going to be rough, they made it through just fine.
28:28But I got an investor update from a company that was like, we think we're going to have to cut our burn. And I was like, it's been a year since the market collapsed. Like, what are you doing? And then, of course, they went bankrupt immediately. Disaster. But he takes calculated risks. because it's all his own capital. And so there's a hell of a lot more downside than potential upside. I don't have investors, he said. I get the freedom to make decisions I think are best. And after this many decades of absolutely killing it, he clearly has good decision-making ability. He talked a little bit about relationship banking, which I thought was pretty interesting.
29:04Obviously, although he owns all the equity in his properties, he still needs to work with banks to secure all sorts of different loans. There's construction loans. Then there's ongoing mortgages on all of the different properties and the buildings, as well as he's going to finance stuff out so he has more capital to work on other things. It's like a private equity deal. As the business grows, you can take more out and then do the next project. So he stresses building relationships with bankers. But what he was saying was like, it's kind of frustrating because a lot of the bankers bounce around from bank to bank.
29:36and so it's very hard to like, you really have to have strong coverage across like an entire banking sector. And then more recently he mentioned that he was actually, he changed one of his financing strategies and went out to Wall Street because you can go to a bank for financing or you can do mortgage-backed security and take it to Wall Street. And that just has different cost of capital, different process, but obviously opens up a new liquidity window for the company. So that was exciting. and and he was talking about how he's somebody was saying like oh yeah like can you explain like some of the more complex like derivatives and instruments that you might use because a big question was like if you locked your interest rate in 2022 right three percent you were great and your business was just fantastic not every bank was offering fixed rates at the time but with derivatives you could actually synthetically lock your interest rate right with uh well that was that's been the challenge for the last couple years commercial real estate market is most people were using this variable rate debt thinking that interest rates will stay low forever and and then all of your profit goes away in months but yeah they were they were talking about all these like arcane financial instruments and and the and the interviewer was kind of like oh like can you explain some of these and he's like i don't really use them i don't really understand them like i just focus on the guest experience and i I think it's like more of a pure play.
31:04He's more conservative. And I think that makes sense. Yeah, and he's not trying to be - A financial engineer. Financial engineer. Otherwise, I'm sure he would have sold a lot of his projects at different points. And also like, it's a little less sexy than like, oh, he's like this genius trader who has all these like crazy plans to make money and pulled money out of thin air. But if I think about like, how do I want the government run? Like, I don't really want them doing fancy stuff. I want someone conservative. Just, okay, what's the revenue? what are the costs what's driving value in the city let's keep it simple let's actually grow this thing so he talks a little bit about his decision to run for mayor with a successful real estate empire and fulfilling family life many question why he would step into politics he explains it's the city that i love i believe you're given the ability to help others you go and do it his top priorities are highlighting homelessness crime and government corruption as the city's biggest challenges.
32:02Homelessness is absolutely fixable. Crime is running rampant and public service should be about service for others, not for yourself. His leadership approach, he aims to replicate his track record of collaboration results saying, I wanna be mayor for everybody. Let's make it a little bit nicer, cleaner, better life for everyone. Yeah, one thing I've always been impressed with, every time you hear this guy talk, whether it was talking to reporters on TV the last 48 hours, were at this fundraiser that I saw him at recently. There's not a single word that's out of place. He can go sit in front of a group of hundreds of people and speak totally off the cuff.
32:41And it sounds like he had a speechwriter. So this guy is just a true, true, true professional. And if I were to, you know, really one of those types of entrepreneurs that I'm sure if he went into the venture world and went into tech he could have been wildly successful yep um but uh chose to focus on his local community and and play a very specific game and do it at the highest possible level so um next time you're in la go support a caruso yeah the grove became one of the region's top attractions with about 20 million visitors in the immediate pre-pandemic years edging out disneyland more but yeah bigger than disneyland that's that's insane easy i don't even it feels like it's hard to believe yeah possible i don't know yeah it's in this la times article for him it's it's just that balance of ridiculous charisma yeah long-term thinking playing his own game right not doing the investor thing not hyper financializing what he was doing yeah and then using early on in his career using the advantages that he had which was which was which was um you know a relationship with his father's business.
33:52So a combination of all those things, this is an incredible man. And I remember after the last election, the word on the street was that he wasn't interested in running again. But I do think there's going to be so much pressure on him now. Not pressure, but just people saying, like, please do this, right? Because I would love to see Los Angeles run by our guy, Rick Caruso. He's also donated a lot of money. He has a family foundation. He's donated to Loyal High School, Brentwood School, Law Schools, University of Southern California. You know, we don't typically celebrate giving money away here, but I hope it brought him a lot of happiness, I guess.
34:32But he's been recognized by Pepperdine and the Los Angeles Business Journal and Ernst & Young and had a very successful family life with four children and a wife that he's been married to for 37 years or something like that. You know, one of the critiques during the election was that he was a fake Democrat. That was basically the number one critique is he was historically Republican or was independent at some point. And that was during, I guess, you know, whatever. And it's such a good example of how about we don't judge people at all based on their political party affiliation and just judge them purely on their work.
35:12And his resume is these incredible developments that people of all political backgrounds love being at. Yeah, he really is like founder mode person generally. You can tell he owns 100 % of his companies. He never sells. He builds these things, manages them for a very long time, clearly runs through walls to get stuff done, does things that people think are impossible, closes streets, and really changes the landscape, but winds up creating a great product that he's clearly happy with, and so are the guests. and the customers. Yeah, you can tell he's creating the product for himself, which is awesome.
35:47Expressing his taste. Crazy taste. It's great. So hopefully we'll be tracking that. The election is in 2026. Karen Bass is already on the campaign trail. She is. Her Instagram shows that she's campaigning already. I wonder why. Is it that fun being mayor? I don't know. Yeah, I think maybe after. We'll see. we'll see how big this story gets and how how big she has an opportunity to redeem herself it's just if you're speaking publicly get the url right yeah and pretty simple please instagram video youtube video we want to tour your event case she needs to be going direct honestly karen bass needs it would be so different if she was just like yeah i can't do anything about the fires but like here are my top five guns from 2024 yeah i recommend the new glock get a get an ar-15 go to arley they're local yeah you know one of the few gun stores in in los angeles uh you know and then get a sniper rifle too yeah maybe a shotgun but now a loadout full loadout you look like a cod lobby in the mayor's yeah she does have an opportunity to win back a lot of voters but yeah yeah the the big two-way voters in los angeles huge block honestly it's increasing it's increasing increasing but slowly i mean adam carolla had that whole take that like this is gonna flip this is gonna flip california or la red so i do you watch i i think it i think it is i think it is totally possible yeah it is a crazy crazy moment we're getting on the edge here We're getting on the political edge.
37:29Stick with business. And it's not our forte. We like to focus on business, technology, and capital allocation. Let's move into a question that we got from a listener. Ozzy says, interesting how much coverage the Palisades fire is getting compared to Hurricane Helene. Helene so far was far more devastating. $124 to$250 billion in damages for Helene versus$55 billion for Palisades. palisades 246 deaths for helene versus at least five for palisades 126k damaged uh homes damaged versus i'm sure a few thousand in la uh what are your thoughts he asks so what do you think about that coverage so helene versus yeah helene palisades fires i i wasn't actually familiar so he's correct i i i paid far less attention to that yeah oh you don't know because i because i like it was it was like the democrats like caused it or something the republicans yeah i remember i remember the cover i just wasn't i wasn't focused on it because because this fire has been in literally in my backyard yeah yeah and uh many many many friends and and you know business relationships have been affected by it yep the other um so yeah the damage for helene was devastating south carolina and north carolina both had 50 ish billion dollars worth of damage like ridiculous amount of damage way more deaths yep it's very dark sad there's still a bunch of people missing um but anytime you have a a disaster strike the epicenter of media and entertainment where it's the highest you know it's the highest density of people with huge audiences in the world totally so obviously there's going to be a lot of coverage on it and then for us again living miles from the epicenter yeah it it obviously is going to be top of mind so i also wonder if there's something to the actual like visual nature of this type of disaster like with a fire you can go up in a helicopter and film it you can't film a hurricane having a destroying a single house yeah it's very very hard to be out there because you get blown around it happens every once a while and then you can look at the satellite map of it spinning and you're like okay that looks bad but it's very different when you see a drone shot of the palaces is flattened yeah the fire the fires are fires are growing up in california being through a number of fires it was really nasty in santa barbara during the the wolsey fire area there's been really devastating fires in wine country where i grew up um i i think the unpredictability of fires where it doesn't even you could be 10 miles from where wildfires raging and then an ember lands and it starts another one yep there's also quite a lot of um just like poor behavior that springs up where people start um people just start looting houses because people evacuated and And so you can, there's people around the perimeter of these fires.
40:35It also has this like crazy power law outcome where it's like either your house burns down and you're destroyed or your house is totally fine. Yeah. Right. Whereas like, I feel like with the hurricane, it's like everyone deals with a little bit of flooding. Then there's houses that get blown down and destroyed. And like, and it's more of like a gradient of like every house, but it's like all over. Whereas this, it was a lot more of like, oh, there's a fire over there. everyone's got to leave and move and stuff and it's very dramatic so yesterday my i'm i'm in western malibu the fire really devastated eastern malibu and the palisades but we were already starting to pack up because we had no power gas etc uh and then a fire popped up out of nowhere like half a mile from my house and so i'm looking at this watch duty app that everybody's using and they're and it's like oh it's two acres and now it's five acres and then i'm getting videos for my neighbors and I don't know it's also it's also it was one one thing I would call out is like the the you know Keith uh I don't know are you buddies with Keith I've never met him anyways really really good guy um sort of tech adjacent because he's done some tech investing at a real estate tech company but he mostly is a real estate investor he posted which what I thought was a very fair ask which was hey my house is about to burn down are there any sort of private firefighting resources that that i can hire um and uh and got you know went mega viral got mega canceled um and thought it was like a very fair ask like if you look at the way he phrased the message it wasn't like hey any off-duty firefighters want to come you know save my house instead of someone else's abandon your post it's like private firefighting just like private security is an industry insurance companies leverage private firefighting brigades all the time there was this whole drama a few years ago when there was fires in the hidden hills area and there was a private fire brigade that descended on hidden hills because it's like a billion dollars of property value they don't want to lose that right so anyways i just think um uh keith is a great guy and and obviously didn't have any bad intentions with that and sort of sort of unfortunate that people far away from the action decided to have an opinion when it was a very fair request like he killed and it didn't work by the way his house burned to the ground yeah like yeah insane bravo to everybody dunking on it yeah he did uh just a little like comms advice he did a pretty good job of mitigating the cancellation like the the hatred i think by i think he locked his account or like deactivated his account and everyone's like oh he deleted his account but really like you can turn it on in a few days and it'll be fine but what that does is it stops the quote tweets and so anyone who quote tweeted you if you're getting canceled this has happened to me when i talked about how i'm going to move to alaska and take it over and make it a tech mecca and everyone in alaska said uh they would kill me um i'm not kidding they were they were like dming me pictures of their guns being like bitch like you wouldn't last a day up here you you californian cali boy like okay respect like this this makes me want to move there more but then there was the there There was like the right wingers were canceling me.
43:54Yeah. The right wingers were canceling me for like being like a pussy basically. And then the, and then the left wingers were canceling me for like, you know, uh, colonizing indigenous spaces or something like that. And I was just like, this is too much. I just lock the account and then it shuts down all the quote tweets. And then everyone just moves on. Cause like, they're not getting that. Like they don't have anything to go off of. Um, material. Yeah. Yeah. It was very funny, but I, I think he did that. And I think he'll be able to come back hopefully cause good poster and there's some good stuff.
44:20Um, but okay that's not important um let's move on to uh the timeline hopefully there's some fun tweets we get more on the tech side talk about what's going on outside of the fire which has consumed us for the last two days but hopefully there's more interesting things going on we got a big tech alert this is very exciting katherine boyle and indreessen horowitz has started following at tech bros welcome brother boyle she's she's engaged with some of our stuff before i think we probably have covered uh her tweets but um she created american dynamism did she not and she talked about how there's a need for an oscar style award show in tech yeah and years ago there was the crunchies and there are some hilarious photos from the crunchies put on by tech crunch yeah and they would give you a physical statue and it pulled really big people i mean teal yeah there's picture of teal with a crunchy and i think it's like a man on the moon type of thing or something or maybe it's like an ape i don't know it's something crazy that's wild but uh the crunchies they i i remember the moment that they peaked because uh paul graham said on twitter at the time what it was an ape okay yeah wow oh yeah yeah there you go that's kind of cool um we gotta we We got to buy one of those on eBay or something.
45:46But PG said, we don't need TechCrunch to award startup of the year. It's a useless award because in tech and in business, you have the market constantly telling you how the company is doing. And so with the Oscars, it's like the Oscars don't just say which one made the most money. There's an artistic value there. And so I think it's actually good that with our award show, we focus not just on who's the richest person in tech or like the award for. We focus on size like like Josh Kushner, who repeatedly made some of the highest conviction, biggest bets. Yeah. And it's more of a quality spectrum of companies.
46:26Yeah. There's some element of. Yeah. Editorial element. Exactly. You could argue that Gary Tan's a bigger size Lord because he's more companies. Exactly. Spring. Conversation starter. Yeah. You know, oh, you know, should Moonlight have gotten the award or should La La Land have gotten the domain acquisition of the year? Exactly. Exactly. Like these things are, award shows should be more, if you're doing an award show for tech, you should lean towards something that's a little bit more qualitative, a little bit more artistic, but you won't be doing an award show for tech because we already got that locked down.
47:01So don't copy us. Okay. But you can come. You can come. I'll see you there. Great. if you wear tux let's go to andrew mccallop been on the show before with some great um wait is this the question is this so it's it's less of a question so so basically andrew has developed this this doge themed art piece okay which he's going to sell for i've seen five million dollars okay it needs to sell for five million dollars because he needs an f40 okay yeah yeah and so i just wanted to put the word out because andrew is looking for a home for doge fin okay uh because apparently wherever it's being stored right now uh we would house it here but it's gonna be i think it's a little bit it's huge it's huge and we we're on the 10th floor of a building and carrying it up the stairs sounds rough and i don't know i think the weight limit is probably too high for the elevator so he says he's doing a bit of spring cleaning two things that need to be moved out would anyone be interested in a large vacuum chamber so if you're in the market hit him up it weighs about 1 500 pounds no pumps no warranty bring a trailer please dm me it's free uh you just have to do you just have to promise to do something incredibly interesting with it and then two doge finn needs to find a new home if you want the 600 pound magnificence gracing your factory floor we should talk i would prefer to keep ownership and do a storage slash loan thing as i need to sell him at art basil to pay for my f40 shout out to tech bros pod for making the decision in retrospect with carmack and and muller owning one it's a no brainer mueller um and he shows uh the vacuum chamber and the doge fin which you should go take a look at it so wild i mean it's stunning piece chamber has some interest y 'all better move i actually so so maybe now that i'm thinking out loud i should honestly put this in my backyard i don't know if he wants to be outdoors uh you have to cover it all the time and stuff i i don't know how treated it is maybe he could do like some coat or something yeah andrew treat it i'll put it in my backyard i'll give it an ocean view it'd be a great place for dojvin to uh pass the time let's do one more than a promoted post uh signal says vibe capital was born out of the realization that traditional diligence is just the polite lie we tell ourselves after making decisions with our gut no pitch decks no financials no fake process just human connection we invest in founders with ideas that make us feel alive.
49:21We're betting that intuition beats spreadsheets and that founders thrive when they're treated as the connoisseurs of culture, not as risks to be mitigated. If the idea makes us smile, shiver, or swear under our breath, we're in. We believe capital is a commodity, but vibes are scarce. And he's quoting a segment from a book about Andy Bechtelsheim investing in Google. Bechtelsheim ran to his Porsche and returned carrying something. We could discuss a number of issues why don't i just write you a check he said you abuelantly i can't pronounce that at all with that he presented by vocab uh he presented bren and page with a 100 000 check payable to google inc bren and page explained that google hadn't been incorporated yet and didn't have a bank account to deposit the check into well when you do stick it in there bechdel searmes said cheerfully then he disappeared in his porsche without saying what share of google he imagined This is a real alpha because you can still do this.
50:22Yeah. If you know, even if a company hasn't incorporated, you know, usually you want to be investing pre-incorporation. You want to be given that handshake before the company's even been formed. So you're going to get the best price and the most clout, which is what angel investing is all about. Low entry prices and clout. More about the clout than the investment. The funny thing is that... Because by the time you're getting any liquidity, you forgot about the investment. You don't even know what they do anymore. but but but checks are cool because because i've been in situations where i'm like well i want to invest but you haven't set up the company yet and just write a check yeah yeah and just get the c corp name right and every time i use a check or every time i write a check you can just make it payable to cash yeah i'm like checks are actually a fantastic innovation i i've i i've only written probably sub 100 checks in my life just because digital payments were really at the time I was an adult, they were just so widespread.
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51:16But every time I write it, I'm like, wait, I can write any number in here and just give it to you and you can just deposit it. That's great. Yeah. No limits or anything. It's almost as cool as stable coins. Yeah. Yeah. The checks, the funny thing is that I feel like if you did that today with a founder, depending on the founder, some founders would be like, great, a hundred thousand dollars. I'm going to go out and raise a$100 million post seed round and give you 0.1 % of the company. Yeah. But then if they have to raise again at a lower valuation you'd convert in at the lower valuation you got to get that mfn clause yeah in there otherwise you're an idiot you gotta watch out let's do a promoted post promoted post uh this one from kyle body body who is quote tweeting a another post by a guy named grant i put this in there because i wanted to promote those wheels specifically so kyle says this is an ad read kyle says these specific wheels on amazon yeah so we're running an ad for some hasali store on amazon and these are rubber office uh chair wheels that you can take you presumably take like a razor scooter yes so these are razor wheels that you can give your office chair so we don't use we don't use chairs with wheels on this podcast but i do have an office chair at home that i know i can see this attachment i know they'll snap in so i need to get some of these but twenty dollars you turn your office chair into a razor scooter kyle got nerd sniped by them the gt3 rs of office chairs yeah you know these things are the y sock package yeah this is the y sock on your on your herman miller yeah yeah yeah i've got such a great herman miller it's not that comfortable but it looks amazing well that's what that's what matters i mean you'd put an exhaust on it if it was a car yeah why not put some wheels on wheels on slap some wheels on it um um okay let's go to a bucket poll bucket poll um okay you want to do you want to re-explain the yeah yeah okay so so so we have so we have we you know we react to a lot of a lot of posts from x on this show we wanted to create some differentiation here and so uh when we see something on the timeline that's a banger it's it's from a friend it's from a brother maybe of previous brother of the week, someone really important.
53:30It's about a really important topic. We put it in this stack. We print it full size. It's a banger. This is from Max Meyer. You know it's going to be good. It's important. He's setting the discourse. But every once in a while, we see posts that are good, but from people we don't know. Maybe they're just kind of random, timeless. We could just react to them whenever we want. So we print them on these small four by six cards. And these are the bucket polls. We put them in the bucket. Champagne. We shuffle them all around. Champagne bucket. We shuffle them all around. and we take them out of here randomly.
53:59Use the tongs too. The bangers are a little bit more sorted. We know we want to talk about Max's post today, but the bucket pulls are random. And we got this idea from Kill Tony, Tony Hinchcliffe. He, when he runs his comedy show, he brings on his friends every show. They're regulars. They do a minute of standup. And you know that those friends of his are going to be the regulars are going to deliver. They're going to deliver high quality. But he also does bucket pulls. He pulls random people from the audience who maybe they've never done stand-up. Maybe it's their first time. Maybe they're terrible.
54:32Maybe they bump. Maybe they overperform. And at the end, he gives them a joke book. It's a variable reward. Exactly. Exactly. So on the show, going forward, you'll see we do a couple bangers. We do a promoted post, and we do a bucket pull. And so this is a good one. Let's do this one. From Comrade Sisko. says new workout goal is to have a body where if i commit a crime the media posts my shirtless pics and everyone's like wow it's a picture of luigi mangioni and my goal for this year is to make luigi mangioni look like the trump shooter do you see that kid that really really skinny dude frail i'm trying to get so big that everyone's like uh luigi's you know skinny yeah it is it is crazy because a lot of people say oh like all your problems will be solved if you just get super healthy and clearly if you're messing with 60 mesoamerican demons yes it doesn't matter well i think that's a pre one shot photo yeah first because if you look at him now it's not like he's a week out from the bulk he's months out yeah um and also he there's a big question about people are like oh he's so hot he has tons of fans people are looking at this they're really upset about health care they're on his side the public's on his side well that might not matter at all in the courtroom and there was this whole like how much does the court of the way he looks should not matter in the courtroom it shouldn't at all and but people are kind of acting like it will matter and they did the same thing with sbf people would be like why is sbf on x right now in a space talking about how he's innocent and it was like he's trying to win over the public but like that didn't matter at all and so i don't know that i i think like this is obviously just some joke post but i don't know that it actually works like i i i don't actually think there's any way to you know sway the public i think the jurors are going to get in there they're not going to care they're not going to be extremely online the lawyers will filter for that and voir dire they'll be like are you a communist and are you doing ayahuasca all the time and are you do you have the the phrase is hybristophilia have you heard of this no hybristophilia is you could just make sexual like this up i'd be like no but hybristophilia is sexual attraction to criminals and it's fairly popular yeah so when you hear about oh there's some serial killer that's getting you know 20 letters a week from women across the country who have like fallen in love with him you're like why and and there's actually like a paraphilia where people are like that's hot i guess it's crazy and there's the same thing with podcasters there's a very uh uh famous podcaster who gets one letter every single day yeah that he hasn't talked about this publicly obviously but he gets one letter every single day from the same woman in europe who just hand writes a letter and puts it in the mail every single day like a love letter to this guy and it just goes to the po box and and just like rots there and get two letters a day today we're coming for you you know who you are you're listening um the other thing is that uh luigi is short so fuck him uh anyway max meyer as we said banger he says we must put a 100 000 100 000 percent tariff on ozempic and legos in order to force the kingdom of denmark to give greenland to the united states ozempic and legos are like 45 of the danish economy it would be over for them in 15 seconds that's hilarious I mean Max is a media mogul yep and he has studied the art of the deal clearly yep and it's just trying to feed ideas because he knows that Trump administration is very online they're gonna see this stuff and they're gonna be like that's a good idea yeah but but yeah I think Lego and Nova Nordisk both fantastic companies did you see the flag I posted I posted the 54 state flag who did the photoshop i just did that on my phone i just copied one of the rows that has four stars over and just it looked pretty good right it looked great uh and so the 54 star flag it's still pretty balanced because a lot of people do the one extra star which is hilarious moon or whatever and you just say that place but i was like we're talking about four places let's just see what that looks like looks great looks great uh downstairs there's a 45 star flag that was uh prior to alaska hawaii but then a few other states looks great as well very balanced um and what's hilarious is that someone pretty high up in the trump administration texted me and was like this looks great no way it's wild yeah the the anybody complaining about symmetry issues is not a good reason not to to yeah expand the empire yeah yeah yeah constantly and and the comments on that post were great people were saying let's add mars i think that's a promoted post this is a promoted post from our friends at the ridge and our friends at meta and the friends unless you've been living uh under a rock you know that sean frank run is the number one wallet salesman in the world and he's able to do that by running on ramp uh i thought this was cool deal to a ridge spent a hundred million dollars on their ramp cards they spent a lot of money on meta ads and inventory and things like that size lords and absolute size lords and um hit it nice um and uh ramp sent him this this deal toy fantastic uh it's crazy to think that there will soon be a one billion dollar club and ridge will eventually get to that that's amazing um they are highly profitable so you know they're they're not even spending as much as they could But if Ramp really ramps up the deal toys, Sean might be like, I'm going to spend a little bit more this month.
1:00:22I'm going to spend a little more this month. So they've got the whole savings focus. The average company on Ramp saves 5 % a year. But when you have deal toys like this, it's going to tempt some CEOs to say, you want to jack it up, jack up that spend a little bit. That's great. Anyways, we'd love to see it. Some of the new clients we're hearing about Ramp signing, they're going to be in the billion dollar club on day one. If we keep hiring creative agencies like we've been doing, we're going to be in the$100 million Ramp club soon. for sure for sure um uh should we go to promoted post or was that it okay let's do one from vittorio you know he's been on the show before says this new wave of imperialism is oddly refreshing it's like i can feel my ancestral blood stirring again it's time for war spiritual war um very pumped up about the greenland and canada jokes and all this stuff hard to say what actually happens here but uh certainly a lot of fun also isn't he like living in italy or something like that i thought he wasn't even in america i don't know actually yeah i don't know but uh be very funny chad though yeah i would say if if uh not this is gonna kind of not really land uh because but um uh with the right audience but anybody that's unemployed right now that's american just go to greenland just literally fly there yeah and just post up i bet there's cheap hotel Hotels, hostels, Airbnbs, that kind of things.
1:01:42And just post up like... hopefully this happens and you have the opportunity to be on the ground and really lead the charge. so yeah d-day mode okay this is a great one uh buck in sf says is stratechery still relevant and ben thompson the founder of stratechery drops a nuclear bomb on him in the form of an entire stratechery article explaining that yes to be clear the whole thing is very cordial it was it was because buck has been uh has been a like a fan and kind of i guess asked ben a lot of questions over the years. And so he said, I decided to give you a very earnest answer. And he says, it depends.
1:02:26First off, I'm pretty proud of Stratechery's record over the last couple of years. When it comes to the big companies I traditionally cover, I think I've been pretty sharp, including sketching out their relative risks and strengths and AI, calling out Apple strategy pre-Apple intelligence, made comprehensive case that Meta was actually the best positioned. And of course, was basically the only person to strongly defend Meta when they were at their Nadir. And he has sources for all of these. I've also been on the NVIDIA case for a long time explaining what their moat is and why it's relevant long before they became the juggernaut they are today.
1:02:56I guess I do regret not forcefully making the case that they were going to go to the moon, but I generally think that if you read Stratechery regularly, you're pretty well positioned to capitalize on moments like that because I laid the groundwork. And he goes on and on and on. And it's amazing because I think Stratechery is extremely relevant and I I still love reading it. So here's the thing, though. So the reason that ads are the best business model for media is because you get the widest possible reach, right? Sure. A lot of people don't subscribe to Stratechery, so they miss all of this really, really, really high-quality content.
1:03:31Yep. And he has less influence because he's reliant on his readers, and he makes his readers fork over their hard-earned dollars. Yep. Which works really well for him. I think he likes the predictability of just knowing as long as I write good stuff, there's revenue there. He doesn't have to focus on selling to advertisers. But the same thing happened to Joe Rogan with Spotify. You remember Joe Rogan's influence fell off a cliff for a few years when he was off YouTube and you basically didn't hear about him. Yeah. Unless so it went from the Trump interview on YouTube got 50 million views. Yeah.
1:04:03It's like, so you know that, you know that. So, so the, the Joe Rogan deal, I was talking to Rob Mower at Heberman about this. um co-founder of human lab and he was saying like the the spotify rogan deal like was very good for everybody involved like it just made a lot of sense but you know rogan's happier now that he can just be out freely sharing content generally everywhere so yeah um i'd like to see uh i don't know it'd be interesting i'd like to see more people like ben follow the model of i'm gonna release stuff it's gonna be paywall paywalled for a week and then well he does he does do that does eventually release the main the main articles are free to read you can subscribe just to those get those and then he has podcast clips and and segments of the show so he has a number of podcasts that do one free one paid but when you're paid you get the full subscription it also has to be great it has to be like links being killed on totally x he was huge on linkedin early on uh he would post link and on twitter as well um and now that twitter doesn't have those like viral like he hasn't figured out how to put his content into like an x native format we need brain rot slop tiktoks of yeah with the subway surfers and then talking yeah the problem is that he just doesn't care about like yeah reaching that audience yeah and i think you You could argue that his influence is there's a bunch of really large capital allocators that read his coverage and use that to make size Lord investment.
1:05:37And also executives at big tech companies. Yeah. For sure. Yeah. Like who knows if Zuck is reading everyone. Which he talks with constantly. But everyone he talks with is definitely reading it. And that's why, again, the reason to subscribe to him, not only because the writing's very high quality and he's been like David Senra and the way that he has so much depth with these companies and the history of them. that he can just talk forever about them. But now they all text him and call him and give him actual scoops and insights that no other writer has. Yeah. Let's do another Greenland post and Canada post, and then we'll go to a promoted post.
1:06:13J5killer says, post a screenshot from 4chan where someone's thinking about why Trump is talking about Canada. The question is, why does Trump keep joking about Canada? Why does he keep joking about Greenland and the Panama Canal? The answer, for those of you who are not familiar with geopolitics, is shipping. Canada and Greenland, and by extension Denmark, control the Northwest Passage, which due to ice melting is set to become one of the largest shipping routes on earth. Canada can't defend it against the other claimant, Russia, without U.S. support. America is also going down the path of wanting to further control shipping routes to maintain their hegemony.
1:06:50While these come off as jokes now, make no mistake, these are long-term U.S. strategic objectives, whether through conquest, economic partnership or some means the u.s will eventually control these routes um whether the trump whether under trump or someone down the line he is just putting one idea into the atmosphere yeah pretty interesting take i hadn't heard that i thought i was definitely in like that it's just a joke camp and when i thought greenland i thought skiing or something you know yeah just like well there is there is a rift in the trump admin right there's some parts that want to absorb canada and then there's other part that says we already got the best canadian we got jeremy guffon the Fond and Company.
1:07:27We got him already. Why do we need the rest of the country? It's true. We have a future billionaire. He could have gone on to be the richest man in Canada. Now he's going to be one of the richest men in the US. Do we need to go through the trouble of integrating this entirely new country into a state and all this stuff? So we'll see how that plays out. Jeremy's laughing to the bank. Yeah, either way, he wins. As he does. Promoted post. We got a promoted post from the founder of Lava. Lava is the only way to borrow against your Bitcoin. All other loan solutions require you to give up custody, so you end up borrowing against bank coin and lose your Bitcoin.
1:08:07These custodial solutions have lost$100 billion in customer funds in just the last few years. So what are these companies again? What was the one? There was two. There was Celsius, not the energy drink company, that offered amazing rates went under BlockFi, FTX. There were a lot of companies with... Non-custodial way to get some leverage. We love leverage on the show. We love betting on yourself. And we love holding Bitcoin. And that is not financial advice, but lever up. Yeah. Let's go to a bucket poll. This one's from Alex Kerr. He says, Today I learned that Evan Spiegel has a private 737. Let's go.
1:08:49BBJ. A little size value action for that. He's got the Boeing business jet. Fantastic. It turns out that N3E, an airliner 737 configured as a private jet, is owned by Snapchat and Evan Spiegel. The operator is listed as SE Logistics, short for Spiegel Evan. Snapchat owns the largest private hangar at Van Nuys Airport. Wow. Amazing. Yeah, my only critique here is that it should be wrapped in yellow. I agree. Because I don't think yellow. There's some issue. If you want to make your plane black. but yellow is probably fine yeah it seems there's even a whole isn't spirits color yellow yeah yeah yeah you get confused with spirit it's rough heaven would not want to get you don't want to be thought of as like the spirit of social networking that would be rough evan kind of came about too early right because you would always get so much shit for driving supercars around venice fantastic super are you going to get mad at a young billionaire for enjoying supercars enjoy the fruits 10 years from now it's going to be completely normal for the average product manager in sf to drive a supercar to work yeah street park street park it um and so evan was just too early i mean it's still early but he's still here in his own arc and be his own person and uh and and there's just so many ways spiegel's actually somebody i would like to see step away from snapchat it's never going to make any money there's a there's a sort of an enrichment scheme for employees right uh and a and a strong public markets bet for some some very online ex people yes um but i'd like to see him leave snap start a new foundation model consumer hardware company go compete with try to compete with avi from friend.com sure yeah let's see him like go big like i want like a two on two billion on 10 billion okay round like sure that would just be good entertainment so yeah i mean if i'm going entertainment with spiegel i i want him just to lean into the personality the lifestyle let's let's see your watch collection maybe he can just take it in a different direction doesn't need to compete on price but if he's got little oh we went a little bit crazier at west coast customs oh you got the cayenne minivan he's got the lifted cayenne six by six yeah what about that he's got the sterato build on an f40 you know you know the f40 you think about that car everyone loves it only has a v8 swap a v12 in there yeah v12 quad turbo f40 with the the roof rack f40 sterato there now we're talking some knobby tires on that thing it doesn't it has a manual everyone says the most engaging drive throw an automatic in there like get some paddles going it'll be faster yeah let's let's really class it up in there paddle shifting and you have 40 just just dig it all out throw a 296 transmission in there exactly yeah pdk yeah yeah pdk everything on it yep this is the way to do it just really affect oh nice nice minivan yeah yeah yeah yeah turn the f40 into a minivan f40 minivan the perfect car to get to the snow yeah yeah yeah because you can't you can't really afford an f40 if you can't afford to take it to west coast customs drop another million converting it to a v12 with off-road tires and you also you know that if you have a roof rack if you do that ferrari will sue you right yeah so and you can't really afford an f40 unless you can fight the lawsuit the crazy ferrari is the only company that sues their customers for just doing non-harmless the only company yet yeah the only company yet we need more of this yeah we need more aggressive entrepreneurs who are saying you know what yeah i do sell an ai wearable and if you don't like i'm gonna sue you yeah yeah if you paint this thing yeah you put the wrong phone case on your iphone lawsuit loss we want this thing clean no cases yeah we we should test that it's every every every manager gets sued by ferrari at one point in their life yes and i think i think if you listen to this show and you haven't left us a five-star review expect a lawsuit my father father-in-law got in a uh nasty lawsuit really ferrari once no story for another time okay let's move on um let's move on oh this is a this is an interesting personal story so disgraced propagandist says staying at a formerly world-class hotel in pasadena and thinking about how horrible the consultant class that that's taken over is everything here is a shell of its former self small things replaced with plastic food boiled down to lowest bitter deep fried items prices jacked up staff lazy and confused best encompassed by the image of the harp player at the famous tea service squinting at an ipad scratching out an appalling 60 second harp version not of concertos but of pop slash rap hits the worst part is booking reservation brain rod harp brain rod harp just playing like uh what are those brain rod songs like the the the sigma sigma male theme song like like the the the funk you know funk music it's like those stuff like Russian kids in Russia will be drifting to and like those VHS edits.
1:13:56It's actually sick music. I like it. I like the Sigma male theme song on a harp. That would go hard. The worst part is booking a reservation now impossible without calling centralized booking agency, which barely speaks English and has no answers because we're not connected with the property. Customer service staffs are the worst enemy of the consulting class. The massive costs keep them up at night. It occurred to me that their next trick will be to turn the lowest on the totem pole, the migrant worker gardening and cleaning into dual employees, the leaf blower slash customer service role, a futuristic sort of slave wielding both cleaning implements and a Bluetooth headset at the same time that they'll call something like core team member or full service coordinator.
1:14:37Perhaps then I'll stop coming. Do you know this hotel? I tried to stay there the last fire. Yeah, it's the Langham. now it was formerly the ritz carlton everyone loved it when it was the ritz and everyone was very upset my mom is like oh it was so much better when it was the ritz i didn't understand the context at all because when i went as a kid a kid it was the ritz and when i went as a langham it all looked the same it didn't really matter but on tuesday when we got evacuated i booked a room there oh really and yeah and because i was like oh emily was like we want to get out of the house so we got to go somewhere we're not sure where we're gonna go i was like i'll just book a hotel there seems great booked it on Expedia it was pretty cheap they were starting to jack up their prices on the price gouging nice yeah fire evac exactly and so I'm sure the I don't want to put too much blame on them for the price gouging I'm sure whatever like e-commerce software they're using to set prices just detects like there's a lot of views on the website let's put it up and 99.9 percent of the time if Pasadena is booking a lot of hotels it's like there's a conference in town or it's the rose bowl or the rose parade or there's something else going on it's not a natural disaster but they should have a fail safe that says like hey like maybe it's a bad look to be prospecting anyway i book on expedia it's only 300 bucks or something um and uh but then but then i'm like this is a weird thing i bet a lot of people are thinking about doing this let me call them and verify that they have my reservation i actually got stuck in the central booking thing and they're like we don't know if you have a reservation i did that this morning i was calling a bunch of hotels the hotel stayed at last night h like hvac system wasn't working so we told them we were leaving i started calling hotels yep and trying to get through to somebody that's actually at the hotel is very hard oh it's really really hard super annoying so anyways but my going back to the original post so i have i feel like i'm qualified to have strong opinions on hotel like service and just the general experience because I worked at a Ritz-Carlton in college and like I would work 40 hours a week at this hotel while I was in school and uh and so anyways I've seen the inside working at a Ritz-Carlton delivering the actual service and I think there's a number of issues with hotels today the the thing you can count on legacy hotel brands for is service like if you're having an issue on the property they will typically go above and beyond to try to resolve it the challenge is the the actual interiors are for the most part falling apart so they're no longer that nice the menus and all the food items are just like cisco slop like it's like no the food's no longer enjoyable to eat at many of these properties which is just tragic because you have these incredible properties and then terrible food my business partner at his wedding the day after the night of his wedding he stayed at the langham and walked in to his room there was a shattered glass like champagne glass on the ground wine glass and he stepped and cut his foot like super bad and was like can we do something about this and i don't even think they comped him the room it was like very that's crazy uh bad but yeah and then so you have like the the the um most of our listeners are already a man pilled yeah i was gonna say we need an amon in LA.
1:17:51Yeah. Yeah. We got them on putting them on residences in center of LA, but will that be a hotel too? I don't know if they're going to have a tell, but it's gotta be, I get to live there. That's the best part. Um, but, uh, but, but yeah, I mean, maybe just the issue is you have this, you have the Ritz Carlton, you have the, um, four seasons, you have, uh, what St. Regis, you have all these hotels, which are beautiful properties, very expensive properties, but actually mid experience yep and then you have the new hotel brands that are uh caruso in there yeah caruso would do it but the rosewood yeah the rosewood miramar is pretty nice but again the food's still i think slop um and then you have like one hotel the proper hotel these hotels where the interiors like they paid they paid for cool contemporary interior designers but then they're just not actually they don't have like the service culture typically that you get at these legacy hotels.
1:18:46And so the, the solution is to basically stay at these like very like boutique hotels, like 20, 30 rooms that are still nice. Yep. Or you spend$5 ,000 a night at the mall. Yeah. And that's like, that's the state of hotels. Um, have you seen this, uh, hotel booking scam? No. Were you like fake? Yeah. So, so basically the way it works is you go, you google this happened to me when i was booking a room at the four seasons i google like four seasons san francisco i was staying up there and um and the first result is like a sponsored post because every post on google's every result is sponsored now and it says like four seasons official booking and the website is fourseasons.guestreservations.com and so you're just like oh this must be like the sass tool that they're using they got a custom domain on it sure i'll click there yeah it's not the four seasons and dude i was on guest reservations.com today with thinking it was legit yeah no no no no it's fake and so what happens is that they they uh they get you through the flow and it's a really clean ui like it all makes sense so you're like oh this is great this is easy they quote you a price that feels about right and then at the last second they add like 200 bucks on and it will be like$400 if you just went to actually the Four Seasons website, 700 on their website.
1:20:15And then they book it and it's non-refundable. And if you call them, they'll be like, sorry, we can't do anything. And literally all they're doing is they just have someone there who books through Expedia at an even lower rate on your behalf. And so when you show up to the Four Seasons, they're like, yeah, we have you, but we don't have your information for some reason. Like we just have your name down here. We didn't get your email because they didn't put that in because they put in like, you know, some hash, like 6k 427 at guest reservation.com. And then they'll forward that to you, clean it all up.
1:20:45So it feels like you booked. And a lot of people don't notice. I was on, so I was on guest reservations.com today, looking at the hotel that I, the second hotel that I booked for family. And I was like, why is this hotel like letting this other company own their customer it's so weird and i ended up just calling them because i didn't see the room that i wanted to get or whatever and um but yeah that makes sense where i thought you were saying scam where they just like take your money but no no no they do book it they just mark it up and then they don't let you refund and it's this weird thing where again i call the four seasons try to make it look like it's exactly like exactly and i called the 14th because i was like i like like okay like i'm getting screwed for like 300 bucks but at the very least like i and and the reviews if you search like guest reservations reddit it's all just like scam they didn't even book me i got screwed like because of course like the service is terrible um but if you uh so so i called and i'm like hey i i i messed up and i booked through this scam website like i just want to make sure that i actually have a room when i show up and i'm not just like hunting around for a different hotel and and if you call within the first like three hours they'll say no we don't have you yet and so but then i showed up and i called later and they were like we actually do have you now because they finally put it through yeah it's just it's just such a mess it's such a mess uh and yeah i mean a bunch of different problems action against yeah i mean i do think the four seasons like i i would i i talked to like the you know front desk person but i was like seven layers from the ceo but what can you even do as four seasons because it's just showing up on xpd to be a trap they're basically a travel agency from a legal framework and they're just arbitraging the google ad cost of winning that auction and the fees that they can add so they think okay it cost us 20 to acquire this customer we'll add 100 of fees I bet the CEO has a very extravagant explanation for why this is a real high value market service.
1:22:52Which CEO? The guest reservation? Oh, yeah. Well, actually, we're creating efficiency in the market. No, no, no. It's a total scam and they know it. They understand what they're doing. I've seen the inside of these scams before. This is an interesting one. This is not a post. This is not a public post. It's actually from a private group chat I'm in. but I thought it was interesting based on the fire stuff from a friend saying, I'm going to insist that everyone start picking up tangible skills like lockpicking. I'm so sad by what I'm hearing with regards to the fire. But in the event of serious emergencies, you need to know how to commandeer boats, hotwire cars, start motorcycles.
1:23:31These aren't jokes. I learned how to do this a long time ago. You never know. And with kids to take care of, being able to get out matters. Back in the day, we used to hold weekend sessions and teach each other skills all the time. You can download MIT's lockpicking guide and get a set of tools and starters from Amazon and have a fun weekend together. You have to always pronounce Amazon like that. Amazon. But I thought that was really cool. And, you know, as bad as these disasters are, they are great. You know, it's like, is starting a workout plan on January 1st kind of ridiculous and cringe?
1:24:06like sure but still do better than not having a workout plan and not using that as the start and i'm sure there's plenty of people that are in great shape now who are like yeah actually i did start working out on january 1st five years ago and now i'm jacked and it's the same thing for this it's like yeah maybe the fire was like the thing that made you go buy a gun or buy a starlink or you know learn how to lock pick or learn how to hotwire a car but um you know best time to start is now so just go do it yeah i i bought a uh gun for the first time during covet there you go it was just like there's riots out of my outside of my house a lot of crime you got the media right 1911 yeah yeah yeah great choice shark tooth trigger um let's skip i can jump in with a promoted post from john john's got that official x badge and we just wanted to call attention to john he says at 300 followers invest now you'll never be this early and this x badge does numbers on engagement this guy this got 2.3 000 likes no way oh he must be way above 300 he's probably way over but even if he's at a few thousand now future brother of the week future reply yeah potentially yeah so john great work give him a follow and uh if you're you know if you're struggling on the follower side go get a random job at x become become like the maintenance guy at x that's great get the x badge and run it up to 50k then quit and suddenly yeah yeah yeah um also just that that meme template of like buy now invest now we're still small like people want to get in on things early and so i i think that works generally that's great and the anime profile picture yeah you know there's gonna be always does number there great uh oh let's do a bucket poll what should we do zeke dup oh i like this one zeke been on the show before but this time he's in the bucket polls uh he says whoever makes this autonomous first has my vote at waymo at zooks and it's a uh 1840s horse and carriage uh looks very opulent very loud opulence yeah this would be a great daily there was a bunch of horse and buggy setups in the alps last week oh cool it's good uh good to see i'm gonna that's great next year you have to like box out all the tech journalists to get access yeah i mean the lions wait times are crazy it's terrible i'm sure i'm sure um but uh but yeah i think i think you know i'm hearing reports from my neighbors that none of the gas stations around our neighborhood have gas yeah and what the great thing about a horse is if the horse gets tired runs out of gas you you let them feast on your lawn and they're back in action.
1:26:51You don't have to worry about all you need is a little water, sunlight, and you got fuel. So this is another reason that equestrianism is coming back in such a big way. It's just rational. It's just rational. Yeah. I do think that there is a, although this is obviously a joke and a meme, I do think that there's an interesting insight here, which is that design of these autonomous vehicles is going to matter. And we saw this with the difference between the Waymo and the Tesla CyberCab, how they look wildly different. I mean, people were joking that one looks left wing and one looks right wing. And you could imagine that people want to express themselves.
1:27:32People want different brands. Not everything needs to be perfectly monopolistic. and so you could see someone coming out with some sort of like opulent robo taxi that's cleaned every single time and very high like what is the uber black or the cadillac escalade uh escalade v hopefully i just want to call a waymo that has a humanoid robot in the driver's seat yes that has the one ar-15s for arms yeah yeah defend you yeah it's great uh this is a great throwback post from technology sister says this is one of the first rune tweets i ever saw all-time banger and it's rune in 2021 saying you can either work for a liberal tech company that lifted its name off of a random concept in hinduism or you can work for a conservative tech company that lifted its name off a random concept in tolkien those are your choices and it's samsara and asana versus anduril and palantir and everyone knows about the lotr references but i didn't know about the hinduism trend on the left-wing tech companies but it really is true because uh dustin at asana is a big uh big democratic donor and obviously valentier i mean carps actually did that but anduril palmer kind of same thing um and uh i don't know he's not yeah it only the the analogy breaks down after four companies but it look makes for a good screenshot open ai being the least open ai company is just great naming yeah i can't even have planned that yeah there was something about the andurl name where it was like uh i think peter has a riff on the best like uber where it was like it was like uber was too aggressive of a name uh whereas lyft was like this very like nice name and so that's why the uh left needed the character assassination yeah they had a counter positioning with the pink mustache like i'm just getting a lift the best name is like super aggressive and so uh that led to like some easy character assassination like we got to go after this hardcore black company like they're like black and white they're super serious travis was just too cool yeah good name uh in the tolkien uh side of things uh soran soran yeah home security from yeah i mean this almost seemed like a subtweet of soran a little bit but this all started with lulu saying if you if you if your startup hasn't launched yet uh it's not too late to make sure it doesn't have yet another tolkien name that name won't make you the next andurl um but i guess uh saren has launched but um yeah i mean there's there's there's going to be a little bit of like distance where it used to be like peter is a co-founder if it has a tolkien name and then it was like a founder's fund partner is involved and therefore it has tolkien name and then it became like you went to peter's christmas party and so you get to use okay if anybody wants some alpha find every possible name in the tolkien ecosystem and go buy the dot com start bidding low balling because because andurl would would have been a pretty probably that's like a andurl.com was ten dollars not ten dollars but probably like five grand yeah like that yeah it's funny well let's stay on the topic of uh people who have founded tolkien based startups and delian says it's crazy that the Boeing astronauts are still stranded in space and no one is talking about it and they're going to end up being up there for almost a full nine months longer than they originally intended.
1:31:01Bums in seats, the world has prepared a number of crewed flights in the coming year. NASA's SpaceX Crew-10 mission on the ISS, which will finally bring Butch, Wilmore, and Suni Williams home after a 10-month stay in space, has been delayed to NET March. Well, had they brought enough food yeah probably having like capri suns at this point and rationing them but like nasa capri suns which are probably like way worse i would say here's the interesting thing so varda's first mission they took him a little bit of extra time to get the proper licenses to come back yeah and everybody like all the you know dallians like haters were trying to dunk on him for that yet there was no humans on board the craft it was literally just yeah so where are those same haters now hating on nasa being like yo your crew is stuck in space it is funny how much of a culture war issue and it first happened because on like day two of them being stuck everyone was like this is embarrassing for boeing like we're hating on boeing and i and a lot of people were like we're like oh they're not technically stuck they're just doing extra things like it's gonna be fine and like nope it wasn't fine actually like all of the crazy like irrational like jumping to conclusions in this case was correct yeah 100 yeah uh let's do a promoted post promoted post we haven't talked enough about watches on this episode so we got a promoted post from the luxury watch guy himself this is the watch dealer for uh friends of the pod like uh austin over at morning brew uh luxury watch guy has a patek philippe 55303r which is a grand complications minute repeater rose gold skeleton coming in at only 1.3 million surprise zuck hasn't picked this up yet but um yeah evan evan spiegel maybe maybe go for this try to get some new hardware and what was the rule again on watches two percent of aum two percent of aum so you need a 50 million dollar fund to Can you justify that 60 mil, 70 mil?
1:33:07Yeah. Okay, we know some people we can recommend that to. So anyways, jump on this quick. Nicole Wistoff is asking for a recommendation. Nicole, honestly, kind of a perfect watch for Nicole. Get the Grand Complication Minute Repeater. Rose gold with the skeleton. I mean, this is such a good looking watch. It's great. Nicole, go get this watch. It's a great option for you and sure to turn heads on either coast. When you're in that meeting and the Minute Repeater starts chiming the perfect time to the minute. So here's the play for Nicole. That's important. That's a power plan. Let's say she spends$1.3 million on this watch.
1:33:41It's a meaningful... Her last one is$50 million. It's$10 million in management fees over 10 years. Maybe she pulls a little bit of that forward to acquire this. But then she goes into a meeting with Zuck. He's got a family office. He could probably raise$500 million just off of the conversation. This is a great conversation. Or, hey, look at what I got in my portfolio. This one company, maybe you want to buy it. That's liquidity. It's all going to come back to her. Yeah, yeah, yeah. For sure. So anyways, I don't think she can lose buying this watch. And I do think the minute repeater is underrated because of the fact that it makes noise at the end of the meeting.
1:34:13So, hey, I got to run. Ding, ding, ding, ding, ding. It's drawing attention to your watch. You don't have to show it to someone. They're going to hear it. Yeah, yeah, yeah. They're going to hear it. It speaks for itself. Let's do another bucket poll. Oh, this is a fun one. Praying for Exits went mega viral, 7 million views, with a video about Juicero. and he says, never forget that this was a Silicon Valley darling with over$120 million raised. And yeah, the Juicero was destroyed by Ellen Hewitt at Bloomberg, actually. She just wrote a piece about Zinn that I was featured in. You still got to put that one in the truth set.
1:34:50We do, we do, because there's a lot of things that we're taking out of context. A lot of things that we're taking out of context. But overall, I mean, she does great reporting and no one loves tech journalists more than we do. So the downfall of Juicero was quite the Silicon Valley moment in the HBO TV sense. Very entertaining for everyone involved. I do have a good friend who did an SPV into Juicero. Did they get out? Did they secondary out in time? Knowing him, he probably did, but he's gone on to have a very illustrious career, billions of AUM. That's great. He's doing just fine. yeah so i mean like the basic thesis if anybody wants to if anybody invested in juicero and wants to we would have a guest on to talk about that'd be fun let's break down the investment memo yeah why is little these i mean it actually wasn't that crazy it's like keurig makes a ton of money it's this razor blade model subscription people like juices so yeah you know we're going to do the same thing juice was also booming everybody everybody was saying you got to get all you should be getting yeah having multiple juices a day all this stuff it is i i've gone through juicing arcs super annoying it takes a ridiculous amount of prep makes a huge mess in the kitchen you've got this juicer that's spewing out plant waste that's the problem they were solving a real problem so have i told you the ip right now is is is like who's buying who's you could easily get i think 10 000 pre-orders for that thing if you just rebooted the juicero ip maybe and uh somebody owns it out there i mean the nron ip maybe juicera is next yeah maybe juicera would do better as a meme coin now meme coin or yeah just simplify it and just make it juices that sell pre-made glass bottles have i told you my story about uh making fresh juice during yc in 2012 it's the best so we had a juicer we were like we need to stay healthy let's start juicing stuff we'd go produce but it's always really expensive uh so we'd always have to like drink it all because we like can't let it go to waste this is like the highest value nutrition that we're getting most of the time it's ramen and just like garbage and so this is when you were living on 16k a year with four other guys yeah yeah exactly uh and so my business partner and i go over to his uncle's house they're like oh we know you guys are into juicing and we got some produce from our garden here take this stuff and uh you can make some juice with it so you bring it home it's got some good stuff in there that meaningfully increased your runway oh yeah yeah it was meaningful at the time we were stoked two days so we start throwing it all in and we started juicing everything we're like okay carrots this and we're like what are these red things we put them in we're like okay i guess those were radishes spicy and we didn't realize that like it completely tainted like all of the juice it was just the spiciest thing but we were like we can't let it go to waste so we just had to drink this radish juice for like two days it was miserable then we had to clean it all is disgusting but yeah it's a long g zero yeah yeah i mean g zero made a lot of sense uh i like this one by armand domaluski he says uh uh the uh the poly market on will the palisades fire be contained by friday it's down at like one percent it's apparently just impossible to do um and so he's suggesting that somebody makes a movie about a team of degenerate gamblers who single-handedly contain a massive fire in order to win a huge score on poly market and uh i mean the volume is 22k it's not exactly gonna be a huge score but it's it could be funny in a in a uh somebody doesn't check the volume hires the most insane private they're like oh the french guy bet 40 million like if we just spend five million on the private fire brigade and ship them in from the east coast the 22 000 if you if you poured 20 if you poured 20k into that market it'd be 50 50 if you poured 100k you'd be at 90 immediately you could totally swing that market um the the interesting is a friend of mine sent me this uh that that post uh just the poly market was like this is so dystopian and i was like i don't know i think it's actually still valuable to know okay i shouldn't expect the fire to be put out and there's this whole thing about like okay well does this incentivize people to i actually got value out of it i've been planning my week yeah based on like don't go i don't plan on going back before friday yeah i don't want to go home it's not going to be contained um so i i don't know it seemed like it wasn't that good and in this case like yeah you could say that there's you could win one percent of your money by keeping the fire going which is illegal or you could win 100x your money by putting it out and so it's actually like the good ending here potentially if there was like this i don't think it's I only think it's sad for some of that$22 ,000 of people with crazy gambling addictions that are just saying.
1:39:48Should we go to Paul Graham? He posted his office reveal. He says, my flight was delayed, so I cleaned up my office. And he's got some wonderful bookshelves, desk right in the center. The problem, of course, is that he's not in the power position. This is a feng shui disaster. We posted about this. Yeah, we compared that having success in business in this room is the equivalent to making it to the NBA with no likes. Yeah, it's incredible that he's been able to have the career that he's had. It just shows like PG is PG. He really is a one-on-one, fighting with one arm tied behind his back this entire time.
1:40:23And if we really knew the full layout of the house, we could understand more about whether or not this applies the principles of feng shui correctly. But I can tell you right now, feng shui is very important. it's very real and I've uh very rarely do I meet really successful people who do not have their desks in the power position this is kind of like feng shui 101 basically you want to have your desk facing the door and so the opportunities can come to you and that energy can come to you and you're kind of ready to receive it you don't want your back to windows the feng shui reason is so that monkeys and ninjas can come break in through the windows and just you know take you out um but a A lot of these ideas, there's other things like you shouldn't have your desk right next to an open bathroom.
1:41:07And it's like the negative energy from the bathroom will throw you off. But a lot of these feng shui things, they sound like kooky, like, you know, astrology. But they actually have like very reasonable scientific, you know, explanations if you think about it. Like, why don't you want your back to the door where people come in your office? Well, it's because people are going to walk by and see what's on your monitor. and you're going to be like, oh, like, am I messing around on Twitter? Does that look weird? Like, as opposed to if you're in the flips, you can have X open on your monitor and your phone.
1:41:38Yeah. It looks like you're doing important business. Yeah. And it's the same thing with the windows. After I bought my house, I hired a feng shui consultant, David Cho. He's based here in LA. And he taught me a lot about my house and how to make it nicer. But you don't even have to believe in feng shui. just look at how you know if you're a skeptic go around your house and there'll be areas of your home that you completely ignore that are perfectly good areas like a living room or something like that that you just never go in because they're the feng shui is off so you intuitively don't feel like you just don't feel like spending any time there totally totally yeah i mean you can abstract it into just like you walk into a cluttered house that has a lot of hoarding going on that's bad vibe you're not going to be productive there you're in a really clean beautiful space where everything's laid out reasonably and you're not bumping into things you're not stubbing your toes like all these things add up to just a more pleasant and happy life and you can explain it through ancient chinese wisdom or just like logic and reason and both are equally valid but the end result is that yes you should in fact follow the principles of feng shui yep promoted post promoted posts caught me off guard here uh we got a promoted post from augustus de rico he says apply to work as a forward deployed engineer at rainmaker.com slash careers and he posted a picture of their truck stuck in the mud uh so if you didn't see augustus had a little episode last week uh where he and his team got stuck in the mud but they made it out and uh I think this is a super important company.
1:43:19We've been, over the last 48 hours, 72 hours, we've been at the mercy of Mother Nature. Augustus is trying to Rainmaker. I'm lucky to be an investor. Was he the emerging poster of the year as well? He was. Award winning poster and cigarette smoker. Runner up for Obscure Hobbyist of the Year. Yeah, I mean, the team works really hard. They're doing something important. And yeah, every now and then I'll see a Rainmaker hater online. And I'm just like, pick a better hobby. His company is very cool. And Augustus is very cool. And I don't think they'll be doing as many Gundo bonfires anymore. Sort of poor taste to light things on fire.
1:44:05But a cool opportunity. Go check it out. Let's go to a bucket poll. We got$10 Danny here. And he says, bro, you're fine. you just need an impossible sequence of events to play out in perfect order against all odds and you'll be fine 200k likes banger that is the mentality that you should be bringing in to the rest of your thursday yeah by the time this episode gets up you may only have a few hours left but the genetic lottery it's real win it no excuses no excuses uh close out i think we're getting there okay let's do a couple more a couple more uh chris spare guys if you if you didn't if you couldn't tell john is deeply deeply addicted to podcasting oh yeah and uh keep it going we got like oh i gotta leave it one i got a lot of going on at home it's 110 the guys sitting over there scratching his wrist this is interesting though we gotta we gotta cover this chris says uh bridger aerospace owns six super scoopers including the one you saw on your timeline today these are the these are the planes that put out the fires it's a public company ticker is b-a-e-r bridger aerospace group holdings and just today they're up 10 11.6 to be there we go but it was cool i love when something where was trelly to tell people to go long bridger aerospace it's one of my favorite dive like the businesses and the corporations that are behind like like caruso like when else would i really go and understand his full career i'm really glad i understand it now because he actually is a fascinating business model he's not like other real estate developers and it is really interesting i learned a lot from that and it's the same thing i would love to know you know who's the founder of bridger aerospace what's their stock trading at how does the business work how many of these things they own do they make them who makes them i want to know everything about this uh you You know, AI can help with this stuff, but you got to know what questions to ask.
1:46:05Yeah. And yeah, it's fun. And that's part of why we do the show. Let's go to Palmer Luckey. I love this post. He says, after spending a few days at CES 2025, it is clear that this vibe shift is real. Everyone wants to help our military. Everyone wants to build. Nobody is afraid. Fantastic vibe shift. And I liked the follow-up here because someone was like, oh, like they're Johnny come lately. It's like, they're just joining now when it's trendy. There's no political risk. There's no career risk to saying, yes, I support the military. And it's still important. And he says, yeah, this is exactly what Palmer replied.
1:46:37He said, we should have an open tent for them. It's fine. Like, let's just forget about that. I'm not going to go and pull the receipts from, oh, you weren't on board five years ago, 10 years ago. And I was thinking about it. Like when Anderil launched, I thought the company was cool. I like Palmer. And when Palmer got fired from Facebook, I was like, this is very anti-democratic and I'm not into it. But like, I wasn't out there like blogging about it or posting about it. And it's not that I was necessarily afraid to espouse that view. It's like I didn't really have a platform back then. But ultimately, all that matters is the end of the road.
1:47:10Get everyone on the right team for the right reasons. And it doesn't matter if it requires a vibe shift. And you see this all over the place in vibe shifts. You know, credit to Palmer. The Anduril seed round, obviously, they had a ridiculously stacked team. And it was a founder's fund was involved. but the andrel seed round was done at like 97 posts or something like that. Talk about a mango. Talk about an absolute mango seed round. I know some people that - And that was at a time that there was a very, very, very, very small group of people in Silicon Valley that even thought the category was investable at all.
1:47:45Yeah. To be able to pull off a round like that. I know a big hedge fund that passed because of price. Mistake. Yikes. That's great. Let's do this one. We'll do another promoted post. Esther Crawford, former ex-employee, former Twitter employee, says, not enough people know that the person behind Community Notes is Kay Coleman. It launched in January 2021 under the name Birdwatch. His product vision withstood the test of three CEOs, Jack, Parag, and Elon, and is expanding to Meta's massive user base. Absolutely legendary product sense. That is crazy. Like it seems so obvious, the community notes feature, but it really is this.
1:48:27You're a noter. I am. I am. And I enjoy it. Watch out. Watch out, brothers. I'll put somebody in the truth zone. You'll put anybody in the truth zone because the truth for you is paramount. And it is crazy. Like there are so many posts that have community notes on them. Constantly. Like almost every single one of Elon's posts has a community note on it and people are battling it out. But it always surfaces extra information, extra context. Really? Elon? oh yeah elon's not he's not out of the woods for sure it happens all the time yeah yeah a lot of times he'll quote tweet something that's like a little edgy or conspiratorial it'll have a community note and then elon's post will have a community note too and you just see two of these but also as as someone who's in the program i see more community notes than the average person because i see them as soon as one person before their proposes it before one wins in the battle of ideas the free marketplace um you can see okay there's four different people and then there'll also be people saying nnn like no note needed and they'll put like why they don't think it's a note like it's obvious satire we don't need a note or somebody else will say actually we do need a note we need to link to this wikipedia article or this this wall street journal article um it's a really cool system and then you can get in there write stuff upvote stuff um and and see stuff before it goes out and then um interestingly like they're really good with the push notifications hey you'd like to post and now it has community note we're updating you uh just really really great system and and just like it's not censorship it's just adding to the conversation which i really really like yeah so i can still see all the crazy conspiracy theories yeah because usually once a post goes viral people will correct it in the comments yeah they may not get any attention and no way yeah but you can just see well um this is half a promoted post but we're gonna be tracking this uh we're now i guess six days out until varda's second mission delian is announcing varda's going to space again we're very excited for this we'll be covering it we'll be live the day it happens and you'll certainly hear about it here on the show and this time they're launching from vandenberg but they're landing down under in australia very exciting very cool huge progress for that company i'm very excited to see it so congrats to delian and the team at varda good luck bad week to be a delian hater bad week it's been a bad few years i mean some some of the dunks are funny there was this one where uh he posted a picture of like the new factory floor and it was just like empty because it's new factory and somebody was like a lot of space in the space factory and i was like okay that's kind of funny but it's like of course they filled it in they filled it up so much that andrew has to move out doge finn he doesn't have room for his old vacuum but now it's going in my backyard yeah exactly so it's all full cycle and they've been they've been growing a bunch they hired a ton of people i think they i think delian said they hired more people in the last like two weeks than they did in the first eight months of the company something like that so exciting love getting stuff to space we'll definitely be sending some we're gonna send we're sending podcasting equipment oh yeah to the moon so that we're It's ready for us when we get there.
1:51:31Just arrive. We're going to send a minute repeater. A minute repeater. It'll just be chiming. Yeah, we need it with a watch winder. With a watch winder. So it's wound the entire time. No sound. So maybe just like a chronograph. Yeah, maybe. More basic. Yeah, yeah, yeah. Something good. Got to keep the time. Speaking of keeping the time, what do we got there on that promoted post? We got the last promoted post of the day. A gorgeous Patek Philippe reference 5270P with a pink dial. available on windvintage.com. Eric Wind is a fantastic collector and dealer, and you can go check out this watch. I mean, this thing makes me emotional.
1:52:09Like, I'm going to tear up looking at it, and this is a very good-looking watch. Chronograph, too. Yeah. Fantastic. You were just mentioning it. This could be... It's the Daily Driver. That could be your new daily. I want to keep track of how long the show's been going. You have basically... I think I need a chronograph. I can't run the show without it. We basically have three hours to buy this watch before the brothers are going to be notified about it. It's less now. We're getting this thing up in 30 minutes after we post. Call your wife. Sorry, canceling the promoted post we bought at ourselves.
1:52:39Canceling the family event later. Yeah, well, Jordy texted me last night. He was like, you should get on bezel and impulse buy Patek Philippe and tell your wife that... It was an emotional reaction. It was an emotional reaction. Like you're just really stressed out about the fires. You needed an outlet. Yeah, and I encourage anyone who's suffering with a natural disaster to treat yourself. Yeah. Treat yourself. A little treat. Yeah. I mean, you should be able to put a lot of your net worth as a percentage on your wrist and get out of Dodge. Yeah. And you should also have a car that goes 200 miles an hour in case the fires are traveling.
1:53:13You saw people posting, oh, think about how much Bitcoin just got taken off the map because everybody in the Palisades had their ledgers. I don't buy it. I don't buy it at all. I think that people that live in the Palisades that are crypto normies, they're keeping their Bitcoin in ETF. Yeah, ETF for sure. Maybe Coinbase. Maybe Coinbase. Maybe self-custody wallet for 1 % of them. But even those - No one's in ledgers. Yeah. Somebody was saying, oh, yeah, they have their - Ledgers in the walls. They used wallpaper and they have their - Private keys. Absolutely not. like if anything if if you know i was packing up in a relative hurry and the handful of things that were small i could bring i just brought them and like watches are not going up in flames there were for sure supercars that went up in flames you know probably if it's a palisades it's one of one porsches and stuff like that um and so those have been erased from the market Some Kith M4 comps.
1:54:21Yeah, a lot of Kith M4 comps. But I don't know about Ledger wallets. I don't think it was a Michael Saylor. We lost a lot of good G-wagons out there. Yeah. It's rough. It's funny that the Palisades Village, every other car in the parking lot is a G-wagon. If you want to stand out, don't get a G-wagon. Unless it's a convertible or a 6x6. Yeah. Or a 4x4 square. Then it wouldn't fit in the parking garage. That's a big issue of LA. There still are parking garages that don't fit G-Wagons. Yeah. Well, you get the 6x6, and then you get it lowered. A lowered 6x6. Yeah. With an F40.
1:55:05All right. Yeah, just swap all your engines all throughout your cars. Take the V8 from the F40. Put it in the 6x6. Buy six cars. Swap all the equipments and all the transmissions. Put exhaust on all of them. Why didn't that? wheels yeah yeah stanced under lighting for sure your sf90 wheels yeah on your you already lost 300k on the sf90 you might as well you might as well stance it and get some under lighting we were laughing about that i was at f1 in miami and we were laughing about like so like all the different brands like the mercedes team before the race they do uh like a parade and like it'll be like lewis hamilton in like some beautiful like gullwing you know slr i forget what the car is called but like you know some 60s car and then the ferraris come out and they're like he's amazing like what a gtb is the the the really expensive one they're all riding these like really heritage things we were like well what's red bull gonna do like they don't they don't have like a heritage car we're like they should just show up in in like stance jdms red bull honda exactly yeah yeah s2000 wrapped like with a wing on tokyo drift mode wing with the wing yeah fantastic underlighting just max verstappen just like the s2000 just drifting we should actually get one of those just oh yeah take it up in the canyons yeah it'd be great fantastic well let's close with this bucket poll our last bucket poll we're out of bucket polls we gotta to print some more for tomorrow um last bucket pulls from grant and grant says this is a low tam banger already follows us thank you grant 32 likes says a picture of rick rubin and says the way that i speak to the ai has proven profitable to shareholders and then timothy blumberg says jfc this is an underrated post i respect it went out on christmas or two days before uh great post i love rick rubin i like i like that i like that screenshot too yeah wait lucy advertises on on so rick rubin is a nicotine salesman yeah well he he reached out to us he like likes the brand amazing it's amazing yeah that's that's a cooler co-sign to me than rogan i love rogan yeah but yeah it was a very cool moment for the company for sure it was awesome he's like i have no technical abilities I just consume high volumes of yerba mate and nicotine yeah yeah he's just like he just kind of fucks with us just talk to the AI yeah yeah and so we were like yeah we're having a sport Yeah, it's always great when he has.
1:57:40I mean, he's become a great podcaster, has great guests, always great conversations. If you're looking for an episode to listen to of the Rick Rubin podcast, I recommend, it's called Tetragrammaton. You can find it on all your podcast players. I recommend the Travis Barker episode. Interesting. Crazy. Talks about the dude got in plane crashes, like all the Blink-182 stuff, the breakup of the band and stuff. Crazy. Where everyone went. It's a fantastic episode. and obviously they they they like really really mind meld because they're both in music and creatives and stuff and uh you know i my experience with blink-182 has not been listening to a lot of like highbrow interviews with them it's like listening to the songs and the songs are kind of just like you know high school party mosh pit songs to me yeah but there's this whole other side of this like brilliant drummer who's done so many different things and had this wonderful career and it's always fun when you go and uh see the other side uh one of the other great music interviews that I listened to was the lead singer of Slipknot.
1:58:43I think his name's Cody something was on Larry King. And it's this fascinating dive into, he's like completely, he's insane when he's on stage, right? Slipknot's like the most hardcore metal band with like the faces and the masks and stuff. Corey Taylor, yeah. And then Larry King is like buttoned up in this suit, this like one-on-one interview. and Corey just has this like very thoughtful analysis of like the politics of his music and the fans and are the fans crazy or deranged? Like why do they even need this outlet? He's from Iowa. There's been a lot of displacement of jobs and a lot of hollowed out communities and like why this insane music from Slipknot resonates with them and it's just a fascinating watch.
1:59:29So recommend that one too. Anyway, we gotta go. We gotta check on the houses. they're probably all burned down by now but we will be podcasting tomorrow regardless whatever you're doing go sign up for ramp unless you're already signed up for ramp which most of our listeners are if you're already signed up smart pitch ramp to another company yeah friends company text your group chat say hey you guys are stupid if you're not on ramp yeah next time you go do a dinner text your group chats and say listen to technology brothers yeah you rate them five stars you can always revise the rating after you listen if if you disagree with your initial judgment yeah but start with five yeah and then pair it back yeah if you go to a business dinner your when you pay when you split the check it should look like the american psycho scene but only ramp cards and if someone doesn't have one you gotta call them out call them out call them out hold them embarrassing it's called accountability folks call the accountability that's the show we'll see you tomorrow thank you for watching goodbye
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- (00:00) - LA Fires Update
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