The Size Gong, Nuclear Wave Pools, Who's Getting Rich Off Ozempic, ITAR Compliant Gatorade

40:19I mean, there is a thing there where, where some of the headlines that are like OZEMPIC is now recommended for kids who are six. Some of that is just that they've done the safety studies and they think that it's now safe for those kids but but like it depends on the doctor whether or not it's the first thing for a lot of overweight kids they're still recommending diet and exercise first the problem is is that if you're a kid those take willpower yeah or family resources that aren't that aren't that aren't making you good lunches or they're just never taking you out and they're just plopping you in front of the tv it's like well you're going to be sentenced to a life of obesity or this doctor could help you with this injection it's a really hard decision it's tough yeah there's so many there's so many things like self self-esteem almost like starts to set in somebody how somebody views themselves like on the playground yeah so one argument for it if somebody spends age you know zero to 18 yeah obese and you know they're they're running the mile at school and they're walking it how does that impact somebody yeah over um also the other thing you want this thing not on the dump on the dome okay there's nothing conspiratorial about that yeah uh i mean the other thing is that maybe maybe we should be discussing you know banning ozempic for the under 18 not because of the medical risks but because of the immense power that comes from having a glow up later in life totally think about bezos yeah he's just completely on the next tier he wasn't even obese he's cooking on the next amazon right now exactly like but he's like phenomenal i can do better and there's so many people who are like oh yeah i was fat in high school i lost weight now i'm unstoppable.

41:51No one, like I, I just want to prove everyone wrong. I want to go back and, you know, impress everyone. I'm going to pull up to the high school reunion in a Countach or a F40 and let everyone know, Hey, I lost the weight and I'm driving a supercar now. Exactly. I'm driving a supercar. So yeah, I, I, I think I'm with Justin, but for different reasons, we're going to ban it for kids, but for different reasons. Yep. Not because it's risky because we need, we need glow We need more glow ups for sure. Well, we can move on to the numbers if you want, and the economics here. I have a bunch of things.

42:24So this is another Astro Codex 10 piece, and it's called semaglutideonomics. And the math he starts out with, there are 140 million obese Americans, and they're gonna spend$15 ,000 a year for obesity drugs, and then equals, uh-oh, that can't be right, because he did the math. And so there's something interesting going on with Waguvi specifically. There are other weight loss drugs. There's other obesity medications. There's Xenical, Belvic, Contrave, Secunda, Quasemia, like a bunch of weird drug names. But Waguvi is a big step up. It works for 66 to 84 % of people depending on your threshold. Of the six major weight loss drugs, only two have a better than 50-50 chance of helping you lose 10 % of your weight.

43:15and the other one, Qsymia, works partly by making food taste terrible. It can also cause cognitive issues. So it's clearly acting on like a different part of the brain, not like deep in the brainstem. And so Wigoovy feels more natural. Patients feel full. We've discussed this. It's just a really impressive drug. And until now, doctors didn't really use - That's a hundred year overnight success story too. Totally. Evanordis was in the trenches for a hundred years. And it's all the same thing. It's all just treat diabetes basically. and so basically the goal of this article is to model out what's going on right now and how many people are on this now and then what the market might look like in the future and he ends with a bunch of really cool predictions so let's walk through it so modeling semaglutide accessibility 40 of americans are obese that's 140 million people which is interesting because living in LA and spending most of my time traveling to San Francisco, New York, places like Miami, you, if in, in our experience of life, I would never once estimate that 40%.

44:21I mean, I know that statistic forever, but you'd never, I would be just because if you go to the gym, like all the mass monsters, like the guys who are just massive, they count as obese because if you're 300 pounds, six two because you're powerless you're five percent body fat and you're just peeled like you'll still show up in the obesity statistics yeah yeah so we do have to separate that out because we don't want the mountain the mass monsters bmi yeah it's a little off exactly but but generally i agree with you yeah it is odd and i mean that was a whole thing of why i want to do this deep dive was because um like when i'm traveling around it just doesn't feel like there's been any material change in the obesity rate even though you're starting to see statistics and you hear a lot of trend pieces about how powerful a Zempic is.

45:03Um, it's like, I don't, I don't see that in my everyday life. Like, oh wow. Like there are no more fat people around. Um, but it's explained by the, yeah, we go, we came out of Denmark, which is a place that probably has some of the lowest obesity rates in the world. Right. Um, yeah, yeah, they weren't exactly dog fooding this. Um, so suppose that a quarter of the obese people in America want some glutide. That's, that's 35 million prescriptions. Semaglutide costs about 15 ,000 per year. Multiply it out, that's$500 billion. And Americans currently spend$300 billion a year total on prescription drugs.

45:41So just that would be bigger than the entire market. So there's this question of like, okay, how is this actually going to happen? Whenever you have these crazy predictions, you need to kind of back them up with data. And that's the goal of this article. And so if this really did happen, it would bankrupt half of the healthcare industry. and so most people want semaglutide but won't get it. America's current policy for controlling medical costs is to buy random things at random prices. Wait, yeah, so how do they think that would bankrupt the system if a lot of this is out-of-pocket spend right now?

46:14The idea is that in order for that to actually happen and to get to that penetration, it wouldn't be out-of-pocket. It would have to be covered and basically over time the insurance companies would be forced into covering it And then they would have this massive expense that they weren't expecting and they haven't been underwriting against for years. And so all of their premiums would just be destroyed. It'd be very rough. But obviously it's going to be like the slow evolution. But it's so interesting because the near-term costs go up. Like it's almost like a timeline mismatch because like near-term costs go up.

46:47But long-term expenses on a per person per capita basis could drop, right? If you have people that instead of spending decades of their life overweight and unhealthy, they now have a normal BMI and they just take a shot or maybe they get off the shot. The thing that it hasn't been around long enough to understand is this something that somebody can take for two years, get a lot of the benefits, and then just get their shit together and start being healthy. So maybe it's more of like a sprint-based model. So some of that utilitarian calculus will kind of come in later and we can dig into it. But first I want to do a little pop quiz.

47:26You know, there are 140 million obese Americans. Ozempic went viral in 2021 when everyone was talking about the celebrities doing it. It's now been on every podcast, every video. Like everyone's aware of this essentially, I think. It's been a major trend. There's all sorts of companies pushing it. How many people, how many Americans do you think are taking semaglutide for obesity? 140 million are obese. How many people do you think are taking it? You're not just saying just for obesity or just people that are taking it as a fun drug? Yeah, no, no, no. I'm not talking specifically Waguvi. I don't know, 30 million?

48:04You would think that. It's 50 ,000. Isn't that crazy? So there's a report. How is that? I know. Okay. It's because it's so early in the rollout. It's so Rho. And it's very expensive. But that doesn't count Rho and HIMSS. No, no, it counts everything. Probably not the compounded stuff, but we'll go in. We'll work through all the data. So first off, he pulls the actual numbers. And there's a report claiming that there's - So it really, because it feels like it has like 50 % penetration within celebrities. You would think so. With celebrities, for sure. But then you walk around and you go to an airport.

48:40And it's not like, oh, where are all the fat people go? Like obesity is still like a crisis. And we still haven't seen the obesity rate fall significantly. So it's clearly not like actually rolled out fully. and there's been massive supply constraints and it's super expensive and healthcare is not covering it or insurance isn't covering it. So there's a lot of things going on. That tells me Novo is going to be the first trillion dollar European company. Well, that's why the stock is mooning because even though they're only selling, so there are 20 ,000 weekly prescriptions. So that's - New prescriptions.

49:08Yeah. So that's 20 ,000 times$1 ,000 a month. So what's that? 20 million a month in sales. So So that's 200 or I guess, what, like 300 million, right? In annual revenue. And they're trading at half a trillion. Insane. So like you would never get there on the normal revenue multiple. I don't think we've ever seen a consumer product in the US with 50 ,000 customers that has 100 % mindshare penetration. Insane, right? Yeah. Insane. And so maybe this means there's 20 ,000 users or maybe each prescription contains enough of Gooby to last a month. And there are 80 ,000 users. I'm not sure. but it's somewhere in the mid five digits, which is why I'm rounding to 50K.

49:47So his estimate for the actual real number is 50K. And then he's going to work through the math and all the different levers. So that's only 0.1 % of the potential 35 million, which is still only 25 % of the 140 million, right? So it is crazy, crazy low penetration for a drug that we assumed everyone would just be taking. So the way he models the penetration and adoption of semaglutide is interest times awareness times prescription accessibility times affordability. And so we're going to do four different sections here and we'll start with interest. And so he just randomly guests interest at 25%.

50:27So this is like of the obese people, 25 % really want to, are motivated to actually lose weight. And so how many people are aware? Like let's go into awareness. The answer is a lot more than when he first started writing this article. Novo Nordisk, Wegoovi gets surprise endorsement from Elon Musk, says the headline. And here's Google Trends. And you can see Wegoovi and semaglutide are like really, really peaking. And so it's now as searched for on Google as Prozac or Viagra, which are like name brand products. And so even if this is a temporary Musk-related spike, even pre-Musk, it was getting a little bit, a little above half their level.

51:05But Google Trends doesn't exactly track awareness. Few people search for Prozac these days is because everyone knows what it is. So all this tells us is that there's a lot of buzz. So suppose for the sake of argument, 5 % of obese people have heard of the drug, which feels really, really low to me. But you'll see as he kind of works through like why that math makes sense. And then there's also prescription accessibility. Only 5%. Taylor Lorenz, esteemed journalist, should do a piece on getting access to the TikTok feeds of thousands of overweight people and see what's in the, you know, are they talking about it?

51:43Are they memeing it? Because it was super viral on TikTok for sure. So I feel like that has to be higher, but, you know, during the election, there were people that were Googling, like, who's the president? Did you see that? Yeah, right before. Is Joe Biden still president? Is Joe Biden still president? Like, when do I vote? And it's like, and the interest is spiking like the day after the election. like people are unaware like people really do live under rocks um and so prescription accessibility the fda says wagooby is indicated for obesity defined as bmi over 30 um or bmi over 27 with certain medical conditions so but if you have a high bmi that doesn't mean the doctor will necessarily give you a prescription most doctors will want patients to try diet and exercise first and we're can you imagine being 400 pounds going to your doctor and they're like and they're like I want the, you know, like I want the miracle weight loss drug.

52:37And the doctor's like, how about you eat a salad and hit the gym? That is brutal. You're going to go on, you're going to go on, you know, hymns or row and get the compounded stuff. For sure. So every doctor will have their own threshold for what amount of already tried diet and exercise is enough to justify a prescription. Um, the history of medicine includes the following story. Many Many times there's some condition that doctors recommend a lifestyle changes for. Then an exciting new medication comes out. And over a generation or so, doctors go from demanding the lifestyle change to gesturing at the lifestyle change before prescribing the medication to finally just mostly prescribing the medication.

53:16This happened with cholesterol and statins. People would say, oh, like you should just change your diet first. Now it's just statins. Same thing with hypertension and ACE inhibitors. And same thing with depression and SSRIs. So you can form your own opinion about whether that's good or bad. but we're probably in the very beginning of this process with obesity. Opinions will be all over the map. And accept that this time Silicon Valley is short-circuiting the process with fly-by-night telemedicine operations that guarantee you'll get the drugs you want. For example, this one company charges$138 a month, $99 for the first month only, for a guaranteed GLP-1 agonist prescription plus support and messaging with expert doctors.

53:52The DEA sometimes shuts these groups down when they start playing around with controlled substances like Adderall, but Waguvi isn't controlled. and the government probably doesn't care that much. That being said, only 75 % of Americans have primary care physicians at all, and if we assume half of them will eventually be able to get a Waguvi prescription from their doctor, that's 37.5%. Then the next factor is affordability. Semaglutide costs$15 ,000 per year, and of course Elon Musk can pay out of pocket, but many people need insurance, and Medicare doesn't cover obesity drugs, which we mentioned before.

54:25And so some, time for a change? Some congressmen have proposed - It's such a fuck you from the medical system to the average person that, hey, the most unhealthy thing that can happen to you is being overweight. But yeah, we're not. Sorry. We can't help you with that. You're going to be on your own for that one. Yeah, good luck. It's like, okay. But like, yeah, when you have the heart attack, then we'll - But if you go get hit by a car - Then we'll give you a million dollars of treatments at the last second to try and extend your life by five days. Yeah. Like rough. Weird. Instead of just lose the weight and live 10 years longer.

54:57I do hope that Doge really goes after the medical system. That'd be great. Because there's, I mean, obviously, like, it's so tied into the government in so many ways. Yeah, we've got to talk to some more, like, healthcare founders, because there's so much there. We're obviously hearing it all the time on the DOD side, but the medical system's, like, bigger and crazier, I'm sure. Yeah, yeah, yeah. And so he says, some congressmen have proposed a very noble sounding law telling Medicare and Medicaid to start covering weight loss drugs. I'm sure this is out of deep compassion for American obese population and not because it would make pharma companies$1 billion zillion.

55:34But I love the sound of that. I want the pharma companies to make more money. Develop more drugs. Buy the stock. Build more stuff. There's nothing more noble than incredible IRR. Yeah. And so private insurers mostly have to cover whatever Medicare does. but they can choose whether or not to include extra non-Medicare covered drugs. Some have chosen to cover semaglutide under some conditions. Others would prefer not to because it's so expensive. But they can be scared into covering it by the magic words medical necessity. Overall, I don't understand the laws, but there's this very interesting thing that's happening.

56:08And he calls out the New York Times. The New York Times is publishing articles trying to convince us that private insurances not covering semaglutide is an outrage. And it's a very funny screenshot from this article. And the article is called, The Doctor Prescribed an Obesity Drug. Her insurer called it vanity. And it says, here in the tiny gray text, I want to take a second to complain about this article. It notes that Waguvi, semaglutide for obesity, costs more per prescription than Ozempic, semaglutide for diabetes, and calls this a gross inequity, accusing Novo Nordisk of charging people more for the same drug because of their obesity.

56:44but the obesity prescription is a higher dose than the diabetes prescription milligram per milligram would goovy cost less than ozempic a steel manned version of the nyt might object don't most of the costs come from the intellectual property and not the manufacturing so that dose so so the dose shouldn't matter yes but if you made the obesity version cost too much less per milligram than the diabetes version then diabetics would cheat the system by buying the obesity version and splitting it into smaller doses. And so like what they're doing is actually like very rational and totally fine, I think, but they're getting called out here.

57:20And so he concludes here with, let's say only 5 % of people who clear all previous hurdles can afford the drug. And so now he does his final math on how many people get semaglutide. 140 million obese Americans, 25 % are interested, 5 % know of semaglutide's existence, 37 and a half percent can get prescriptions and 5 % can afford it. And that's 33 ,000 people, which is a pretty good match for the 50 ,000 estimated prescriptions. I didn't even fudge the numbers to come out right. It just happened. And so he kind of looks at it like bottom up and top down and comes to the same conclusion that we're in this weird scenario where we maybe have this miracle drug and a lot of people buy it and believe in it.

58:01But because of all these different factors, it just isn't actually being rolled out in the millions like you suspected. And my number would have been the same i would have said yeah five million ten million people obviously like you know same as everything else because in la every time a celebrity walks out of the house everybody's like oh they're on those yeah yeah yeah and i would imagine that you know yeah it's funny one one like one application of it is uh when i've sort of seen this firsthand women getting married historically they'd go on this like crazy diet and exercise routine like leading up to their wedding and now it's simply like you know focus on wedding planning and just like get the shot once a week and like you're gonna look like great probably you know leaners thinner than you would have if you just done the yeah the thing yeah and i think that like a zepic face thing was kind of uh it was it was because like like a lot of celebrities were taking it when they were already very thin yeah and they were going down to like five percent body fat or something yeah really really low which is kind of yeah it's interesting uh martin schrelly oh yeah i always butchered screlly um esteemed uh poster you know poster and commentator on all things health care uh he goes and talks about how there's like other glp1 drugs that are available um and uh and again it's one of those things like if novo nordis didn't have like the same profit incentive that they do um none of these like their product is materially better yep and um But ultimately, if they didn't have that profit incentive, we would have been stuck with the last generation of GLP1 drugs that weren't nearly as good.

59:47injections yeah yeah multiple times basically multiple times yeah the one uh x x and a tie xenotide which was the first one the patents are expired and nobody's even bothered to make it generic because you have to take it twice a day yeah it's such a rough experience and yeah he basically goes on to say that you know novo could easily be a two trillion dollar company but eli lily and others are you know pfizer is coming out with their own glp1 drug uh everybody wants everybody wants in on it um i was telling you earlier i just was like very uh i underestimated the demand pretty dramatically about a year ago i saw a company that was raising to do a glp1 focused telemedicine company a lot of people have come out and basically are combining like some of the trying to build like a platform to do the lifestyle changes and prescribe the drug at the same time and there's one company that i saw didn't invest in just because i was like look this is like ridiculously competitive.

1:00:47There's just, you know, there's no way this business is going to really accrue a lot of value long-term. And they went from zero to$10 million run rate, like in less than 12 months profitably. And like, I'm sure like a multiples beyond that by now. And so, yeah, and it's interesting. Like I do wonder if companies like that are not really being reflected in the data. Cause I know that company by itself has like tens of thousands of customers yeah but i mean if you run the numbers it's yeah like if you're making 10 grand a customer yeah you only hundred customers gets you to a million dollars revenue thousand customers like okay add on yeah add on 1 000 to the 33 000 estimated and we're still in we're not in the millions like we're just not there uh which is fascinating it's just it's rare that you have a product where the LTV of a customer is tens of thousands of dollars.

1:01:41And the competitive pressure doesn't seem to be driving down the price. But we can get more into that. Let's go to Morgan Stanley. They've modeled the economic future of obesity medications over the next decade. And the headline result is that semaglutide and other various semaglutide copycat drugs will be a$30 billion market by 2030. That's less than the 500 billion dollar disaster he was afraid of, but it's still almost 10 % of all US drug spending. And they kind of model it out, like show the whole flow, starting with like the number of obese people, the number that are diagnosed, like how many will get it?

1:02:19It's kind of the same methodology. But the big question is like, you know, what if doctors medicalized obesity as comprehensively as they've medicalized hypertension and high cholesterol. Well, they find that the U.S. obesity market would multiply by a factor of 25 to about $87 billion a year. And then they also are modeling a decline in the price. This is funny. So the number of patients on WGUVI or related medications, Morgan Stanley estimated 46 ,910. So like everyone's right in the tens of thousands, which is crazy. It's just so low. But they're estimating in 2030, it'll be 11 million, which is kind of more where we thought we'd be.

1:03:01So we're still so early. But second, the cost of per prescription goes from 15K a year down to$4 ,000 a year. And then that has a bunch of knock-on effects. So Novo Nordisk, a competitor, Eli Lilly, owns a closely related molecule, terzepatide, which they sell as Manjaro. And they've done studies showing it also works well for weight loss. And although capitalism fans, shout out me and jordy uh might expect the presence of two competing drugs to immediately drive down prices this is mysteriously not how things work in health care and prices will probably stay the same in the short term and i'm wondering if this is just like a like just like a peace treaty like they know if they get in a price war this is like coke and pepsi yeah but nova nova nordisk is also opening up like four to five massive new production facilities but that'll just increase margins like why would they increase the price if they don't have to no that's what i'm saying i'm not arguing against, they deserve to capitalize on their incredible innovation.

1:03:58And I mean, cutting the price from 15K to 4K over what, six years, like that's pretty significant every year. That's a pretty significant price decline. And later they get, so Morgan Stanley does expect competition to drive down costs to 350 a month or$4 ,000 a year. And there's some math that from a purely economic perspective, semaglutide costs the health system money because it's expensive, but it also saves the health system money because we don't have to pay for the consequences of obesity. That's what I'm saying. It's like a duration mismatch thing. And so which effect wins out? Like this is the question.

1:04:34And so the Institute for Clinical and Economic Review did an analysis and they said that the benefits would outweigh the cost if semaglutide costs less than about$8 ,000 per year. So basically it was bundled up all the costs associated with obesity. So it's a grand and so yeah it's the same thing with um it makes sense to cover it you would you would compare this to ftx's challenges with liquidity where they actually had a duration mismatch issue where they invested billions of dollars into private companies and then people started redeeming their their cryptocurrency for cash and they didn't they you know if anthropic had just gotten to their 40 plus billion dollar valuation faster public they would have been able to to cover it Yeah, I think one thing I would throw out is to help the TB community kind of understand how we mostly care about how this is impacting capital allocators and high-risk entrepreneurship.

1:05:29And so if you're a listener and you're on GLP Ones, send us a message. We'd love to kind of get a sense for how it's affecting your strategy. maybe you're going lower risk, which would be unfortunate, but maybe you can take bigger risks in other ways, like raise a bigger fund, right? Things like that. Yep. Or, uh, play with a cat and get that, uh, that brain disease. Have you heard of this? Yeah. The thing that, yeah. Reva's into, what's it called? Uh, I forget. Um, but, uh, what's interesting is like you have this eight, you know, 8 ,000 is kind of the golden number. They want to get it down to 4 ,000.

1:06:04but there's also a third level effect where it costs the health system money again because it prevents people from dying of obesity related consequences and no one really models this because it's so dark but basically dead people stop needing expensive health care this was actually something in the in the master settlement agreement with the big tobacco companies yeah like the the whole reason that tobacco had to pay up to all the states was that they were putting a burden on the health care system yeah that was the model it wasn't just you're evil for killing people. It was like, you're costing the government money.

1:06:35So you got to pay the government back. But one of the arguments that the, uh, tobacco companies made was like, Hey, look, we're killing people off. And then you don't have to pay their pensions, which is like super fucking crazy. I'm like crazy. Um, but yeah, so no one's really modeling that, but it doesn't really matter. Um, the big thing is that, uh, this is an interesting, like, uh, takeaway is like the Morgan Stanley report shows that even the greediest pharma investors openly plotting to medicalize obesity can't bring themselves to believe in more than 11 million U.S. semaglutide patients by 2030.

1:07:08That's less than 10 % of the obese population. Isn't that kind of disappointing? Like we've got over 100 million people dealing with a condition that makes them unhealthy. It causes psychological distress and it makes a lot of people low-grade disappointed and repulsed by our society. We've got an effective drug and we're going to get less than 10 % of the population on it. Like this is kind of crazy. It'll go off patent in 2032. Maybe it'll come down in price, but if this whole thing is like a very slow rollout, it's just, it's just kind of fascinating how slow all this is happening. Chugging along.

1:07:37Yeah. And so he closes with like, should you take it? And he's just says like, ask your doctor. I think you should, if you're, if you're, you know, uh, a weightlifter, you're at like 10 % body fat and you want to get down to 5 % to just be, you know, absolutely peeled. I'm strongly in favor of that. Yeah. If you have muscle mass, you can lose two. yep you know as long as you're on the high protein diet and yeah still hitting one i could see it being cyclical for the the weightlifting community where it starts coming around april you've been in your winter arc yep and you know summer's coming up you know you're going to be on the beach shirts are going to be coming off maybe doing like a little sprint of um glp1 could could be a way to get that body fat sub 10 even if you're still a size lord yep and so he closes with some predictions, which he leads off with, all predictions are conditional on no singularity or global catastrophe.

1:08:31So funny. I may own securities in the companies discussed in this article. So he says, number one, 10 million Americans on semaglutide by 2030. He puts that at 75 % chance. Sounds reasonable. Medicare covers semaglutide in 2030, 40 % chance. Semaglutide costs less than$100 a month in 2030, puts that at 25 % chance. Semaglutide costs less than$100 a month. Inflation adjusted without insurance in 2040, 66 % chance, just like total cost curve stuff. US obesity, half or less of current rate in 2050, 30 % chance. Let's go. Yeah. Very, very interesting article. Very, very great deep dive. But yeah, we should, we should talk, we should close out with like who made money because that is the original question that we had.

1:09:18Who's making money off of a zempic and it's interesting because it's not it's not as many people involved in no nordisk as you'd think yeah they're they're uh a lot of their employees aren't heavily incentivized by the stock price they don't have like an elon type guy where if the stock price hits a certain amount he gets a ton of shares they have a really weird corporate structure yeah they're owned in part by a non-profit um the uh the the actual scientist that created glp1's uh leirglutide uh latte nudson wrote this whole history and she didn't make a lot of money from it um so it seems like yeah here's somebody making money from glp1 so i use perplexity to figure out how many subscribers hims and hers has okay it's weight management offering yeah they uh they have a broader weight management offering i think they have multiple products but they have nearly a hundred thousand subscribers so that could be why uh they have uh the stock's been way up the stock's been ripping yeah um and reinventing themselves over the you know the hair loss products and viagra also kind of a benefit of them being public like they were able to take advantage of this and they probably weren't you know if you're not going into novo which is this huge company um there aren't that many places to allocate capital if you're in the public markets towards something that looks a little bit more pure play-ish towards this category and so they probably benefited a lot from that as like kind of a small cap yeah and it's honestly one of those things they're hiring like they're still scaling up they're still growing yeah one of the one of the reasons that telemedicine worked well for hair loss yeah is that uh people don't want to talk to their doctor about so many issues right like so many things like health issues or things that people don't want to talk to with strangers right even their loved ones right so i see that being a really massive channel long-term.

1:11:10And the ED meds, same thing. If you can get, you know, I think Blake Robbins had a screenshot of, they're just advertising directly to consumers now. Yeah. Well, that was Rowe and they're essentially like, it's almost like a white label deal. No, they're not compounding. They're selling the real thing. HIMS is compounding. And this is kind of interesting, two different sides of the deal. So Rowe, Roman Health, sells name brand Ozempic, I believe, in that screenshot. Um, and that's a deal with Nova essentially. Yeah. And so their economics probably aren't incredible on that, but it's still a way to sell something that's like completely above board.

1:11:49Yeah. Completely above board with the FDA. Uh, HIMSS has been taking a more aggressive approach, actually compounding it, which the FDA put out a statement saying that they don't recommend that people take compounded, uh, semaglutide. Um, but they didn't ban it, which is this weird, like gray area. Yeah. The FDA is like, we don't recommend it, but we're going to allow it. Like it's very weird that the FDA does stuff like this. So here's a play. So I saw that a local compounding pharmacy in Malibu was for sale for like 400K. Whoa. So if you're in the LA area, here's a play for you. A little bit gray area, right?

1:12:24So I'm not recommending you do this. I'm saying you could do this. Buy the local compounding pharmacy and start selling it at the Malibu farmer's market. It's like a farm, you know, local, locally made GLP-1s, farm to table, Zempic. Maybe even try to make it organic. Yeah. I mean, the other issue with the compounding, just from a business perspective, is that I think that you're only allowed to do it from an FDA perspective when it's on shortage. And so you can build up this revenue stream and you can get subscribers. It's got to be massively discounted. But then it could get kind of rugged by you if they go back in stock.

1:13:03And so how do you maintain those customers post, well, maybe you need to do a white label deal. Maybe you need to get a different product in there. It's going to be a little bit tricky, but. You might have time to buy the small compounding pharmacy for half a mil, which I think it was listed at. And then turn around SPAC it, really get the revenues up and then do what HIMSS has done, which is, you know, companies need to constantly reinvent themselves, right? Yep. Even in the way Novo did, right? Yeah. Started as an insulin manufacturer. Yeah. Well, that's a great place to end it. get jacked, work out, diet, take every possible drug.

1:13:37another last, last idea. Uh, I think that there's going to be an incredible play to do group, group travel. Yep. Uh, a group travel agency for formerly overweight people that can, can bond over, uh, over their weight loss and over their love for the drug and, and sort of like take those people on a world tour. Like people internationally have gotten known of seeing large groups of overweight people. It's like, look at those americans but i want to make sure that america's brand over the next hundred years gets built around look at all those super lean fit beautiful people getting off the cruise ship coming into the city barely eating anything america does have a huge advantage here like canada hasn't even approved it like we really are on the forefront that's our edge yeah and it's because even though it's a it's a foreign company novo in denmark like the fda is the gold standard of approvals and they always go here first.

1:14:31The only country that matters. Yeah. It's fantastic. So cheers. Long America. Long America. Welcome back to Technology Brothers. Still the most profitable podcast in the world. Jordy, we got a good DM today. I want to discuss with you from a fan. She says, hi, John and Jordy. I'm a successful real estate developer based in Los Angeles and I'm dating a tech guy who works in San Francisco. He says that SF has more intellectuals, but I don't want to move there. How can I convince him to come to LA? What would you say? So intellectuals are great, especially after they're already senties or beaners.

1:15:10Um, before that you want to avoid being intellectual. Like you have no basis for that until you've, um, until you're post-economic, right? So that'd be my first word of advice. I would say that second, San Francisco is maybe the intellectual center of technology, without a doubt. That being said, while we do a lot of this work, this podcast for the money, many people care about impact. And if that aligns with you, being in LA is a way to have an impact because this is the center of influence, right? Ozempic, you know, we just covered Ozempic. Ozempic is created by a company in Denmark, but all of the marketing firepower behind the product is coming out of LA, right?

1:15:58And so if you want to have attention and influence, move to LA, most of the beaners and centis that we know that made their money in tech end up having, you know, a compound in LA. It's a place that you want to be. Maybe it's your second or third home, fourth or fifth for some of our listeners. But yeah, this is the place. You need to be spending time here. Otherwise, you're going to just be chattering in Hayes Valley, and nothing's actually going to come of your conversations. Yeah. Also, it's a very different type of intellectualism in the Bay. I mean, it's a little bit of an echo chamber. It's a huge echo chamber.

1:16:38And in L.A., you do get more intellectual diversity. Totally. Because it's not just all tech people. There's tech people, but then there's movie people, there's lawyers, there's a whole community of different people. Yeah, on any given day. The defense tech thing is here. There's NASA and SpaceX and stuff. Yeah, we're having conversations. The L.A. group chats are not only debating the ethics and morality of nuclear development, but also how much time you should spend in the sauna versus a cold plunge. And there's nothing that says that the debate around hot, cold therapy is not an intellectual activity as well.

1:17:14The body is sort of the platform of all thought. So if you live in SF and you're not jacked with an incredible one rep max, you could also argue your opinions don't really matter. That's true. That's true. Let's move to Anthony Steele. He writes in to us. He says, any thoughts on New York City as an engineering HQ for a manufacturing company? Oof. You're going to build a massive power plant in Central Park? I'm in. Yes. So while I would love to see more smokestacks on the New York City skyline. Yeah, the highline, that whole thing. We should definitely develop that. Yeah, yeah. um i'm gonna i'm gonna probably maybe maybe vote against uh as an engineering hq so he's not he's not implying that he's going to put the it's unclear if it's if it's uh mechanical or chemical engineering or computer we're the first guys that want to walk off the street in soho out of the laura pianist store go to the second floor of the same building and see a bunch of robotic arms just working overtime but uh you know being we can we can see the gundo out of our studio window we like to keep an eye on our port codes over there yep i think i think um you know bringing your engineering team over here setting up in the gundo uh would be good for a lot of reasons yeah i mean there's some there's some hard tech companies out there but there aren't many but there are some really solid b2b sass companies in new york ramps yeah i don't great engineering headquarters there So there are software engineering talent there, but they're definitely on the earlier side if you're doing hard tech engineering.

1:18:56It's going to be a little bit trickier. Yeah. Gundot or bust. Good luck. Yeah. We've been looking at potentially acquiring our own industrial real estate in the Gundot area to make available to the community. So we'll let you know. Yeah. I think it just depends on who's going to be working for you. Where do they currently live? where is the specific talent that you need for your company you need to think i mean this goes back to like the miami versus sf thing like it's really hard to paint with a broad brush on like unironically like there there's going to be a right place there's going to be some companies that are great in miami there's going to be some companies that are great in new york you have to think about like what work are you actually doing and where are those people because you should probably go to whatever the feeder company if there's some power law unicorn in the city that's going to be dumping off talented people after they've asked yeah you want to be picking all those up or there's some phenomenal university system that you're pulling from constantly.

1:19:52This is like biotech in San Diego. Arguably he should be spending time in New York because a lot of the financiers that are going to be, you know, creating sort of different types of financial instruments in order to scale his manufacturing process are there. He's going to want to be going to, you know, expensive restaurants with them. And, and, and, um, a lot of the best deal toy manufacturers have a good, a good presence in New York as well. Yeah. I mean, you could also just put an executive office on Fifth Avenue and then throw all the engineers in New Jersey. That might be the best solution, really, if you want to be in Manhattan.

1:20:24Yeah. Let's go to our next question from an anonymous DM we got. Hey, bros, I'm currently working at a family office and long term, I'd like to raise my own venture fund. I currently have job offers at a few smaller funds and one growth stage startup, I think is like a chief of staff. uh do you either do you think either of these options would be good stepping stones to raise a fund what do you think okay so i do think that there there's a few kind of core pathways that i think are actually good pathways to have making a career in venture one is the institutional vc who just works at you know one or two or three high quality funds hopefully yeah hopefully land in the Holy Trinity.

1:21:09Even if you don't, you could still end up doing well. The other path is to start a unicorn and start a unicorn, have a lot of success, do a little angel investing, build a track record that way. The death zone is working at a mid fund or a family office and not being able to do a lot of deals because then you're not building up the brand value of working at a great firm and you're just not doing enough volume of deals so that you can build up a track record and say, I can actually get into unicorns. It's totally possible to go to a venture fund and do be involved with like four or five deals a year and have none of them break out.

1:21:52And then you're 10 years into your career. And it's like, you can't really prove that you're a good investor and maybe you were handicapped by the firm that you were at. But I think that, um, even if you're at one of those like holy trinity or just like power law firms you're going to be on a deal team that does a really banger deal even if you're paying up for a winner yeah like oh yeah you're gonna get into good companies yeah exactly and you're just gonna have time with power law ceos and beaners yep but that's gonna be harder to do if you're yeah so my advice my serious advice go somewhere where you can do a high volume of deals it's even you know less about like object it's certainly it's not going to matter about title because like going and being an associate yeah at a big fund that also you don't get a lot of credit there because look you you may have been involved with the deal and met the founder a couple times during the process but you didn't necessarily like have even any decision making power so i think volume is going to be more important here yeah i mean that's trey's uh recommendation for all new investors is just don't swing at every pitch but just take a huge amount of calls and just get to know every company so you start seeing the pattern of what looks like good what what is good um and go from there great let's move to the timeline before we jump into that um oh yeah probably should start with a promoted post we had a poll today and uh our community uh you know unanimously it was sort of a landslide we asked people how many ads should we have per episode and i think like 80 90 percent of the people that responded wanted 60 plus ads so we're not there yet we're hoping to get there soon um but the first promoted post of the day is coming from cars and bids uh if you're not familiar with cars and bids it is a new competitor uh to uh bring a trailer and some of the other online auction houses started by a uh incredible car creator on youtube called doug de muro uh who has created cars and bids he's raised quite a bit of capital for it so they're well capitalized they're building a fantastic platform and today we wanted to highlight a car that just went on the site i think it was this morning uh so it's a seven day bidding period it is a 2024 porsche 911 GT3 RS with the Y-Soc package.

1:24:16It's basically brand new. It has 120 miles. It's in a paint-a-sample Smyrna green. And I just will say this car is absolutely fantastic. Grail car. And if you've ever driven one of these things, we'll be driving one at some point next year on the Nürburgring. um but uh looking forward to that and um yeah this is a this this car should go to somebody in the community it would be a shame if it didn't so yep go get on cars and bids um get the support doug de muro he's a he's a great content creator i listen to his podcast this car pod every friday it's fantastic and i've really enjoyed he taught me basically everything i know about cars there you go i needed a new car a couple years ago decided to learn everything about every car ever made and doug was the perfect person to teach me about there you go everything from a honda odyssey to a career gt and now i know it all yeah he's fantastic just very very deep dives you know he does a little bit of a driving segment but mostly it's about the quirks and features quirks and features it's fantastic thank you uh let's go to dorkesh patel he uh screenshots a post from gwern so i did an interview with dorkesh patel seemed to go well i'm thankful for all the donations from everyone on Patreon and Stripe, particularly from Suhail and Friends and Ahmad Moustak, thoroughly exceeding my bar.

1:25:37My excuses are gone. I'll see y 'all in SF in December. So this is huge news. San Francisco has picked up Guern. He's been traded. Big, big. One of, absolute animal. Puts up some insane numbers every season. I think over 15 ,000 words written, over 50 blog posts. One of the greatest online writers. Essentially goaded. And so I think this is going to change San Francisco. this is really going to level up this the city their talent their roster and uh it's just a huge huge move huge move mayors around the country have been oddly silent on the move but it was a competitive process yes um only one winner in the end yeah you can see a lot of other teams wanting to court gurn this is pretty you can compare it to lebron going to miami huge and back in the day yep um so it's that same sort of equivalent yeah so congrats to san francisco for picking up Guern.

1:26:28You had been a proponent. You'd hoped he'd end up going the hedge fund route. Yep, in New York. But can't win every battle and San Francisco will be better for it. Yep. Hopefully we'll see him soon out in San Francisco. But it's not all rosy because there's some fear, uncertainty, and doubt about what Guern's life will entail in San Francisco.

1:26:57Andre potentially be in store for Gwern. He says, Lowell, want to get dinner with some cool people tonight in Pacific Heights? Want to judge this hackathon? Want to swap notes about AI? Can we fund your startup? Want to chat about roles at Anthropic? In town this week. Want to do a pod? Want to catch up over lunch? Partiful invite to the day of the day of an EA party at a Berkeley group house. Are you coming to Burning Man this year? Is it okay to introduce you to this cool person? Meeting with A16Z, no obligations, just saying hi. Weekend trip to Unconference in Santa Cruz. Wedding in Napa. Tahoe weekend with some cool people.

1:27:25Just relentless. And it's just relentless. And this is like the intellectual bubble that we were talking about before. It's like, there are a lot of cool things, but everyone's doing the exact same things. Yeah. Yeah. And so you remember when, when we dropped Excel and your Shopify notifications, like you couldn't use your phone for a day because it was nonstop. The phone was overheating. That's going to be Gorn's like phone, but just with particles. Just like nonstop, right? Yeah. His phone's going to be completely useless. And so, yeah, I mean, he's been living this very aesthetic life, just reading and consuming content rabbit holing you know one of the best online writers one of the one of like the most impactful intellectuals in silicon valley um and there's a fear that he might lose his edge yeah with this team caught up in the in the yeah i mean it's kind of like you know the dream team from the olympics when you know everyone thought okay they put all the best players together but there just wasn't that compatibility um sometimes you need to stand out players shine and being in a second tier third tier city could actually be better for gorn's intellectual diversity and so I'm rooting for you Goran I'm pulling for San Francisco to pull it out hopefully they get you in the mix good coach, good execution we get a good result here but watch out for those partiful invites, they're dangerous and this is a warning to every person moving to San Francisco yep, don't get sucked in lock in, don't become a sheep don't get sucked in, lock in don't become an NPC be your own person let's go to Paki McCormick who had been on the show before one of the greatest online writers in the entire world uh he says there's no way right and he posts two pictures that describe how uh palmer lucky the founder of mod retro and anduril was mining bitcoin at age 16 before it was even listed on any exchanges or you know you i don't even think you could really buy it you could buy four years before coinbase was started yeah and so he was mining it and getting a ton of it presumably and uh allegedly yeah i don't know exactly how much he held on to but uh fantastic result what a trade and just it's just incredible that he's been early to bitcoin early to vr early to defense some people are built to be beaners yes yes he's born for it yeah born not made yep so uh thanks to paki for highlighting this underrated post only 35 likes on here but great uh probably have something to do with the way the pictures were formatted yeah you know maybe you need to do a little crop job getting photoshop hacky step it up make it a little bit nicer for us so when we print it out it looks good you're on thank you uh let's go to vb knives empty america says it's all over when 28 year old married men have a toy room full of legos we are cooked on a level you don't even grasp and it's a screenshot from relationship advice says i screamed at my husband over his hobbies and now he's changed and i don't know how to fix this so his wife yells at husband for lego obsession now he's pulling away a ghost of his former self what do you think i mean so there's nothing wrong with having a room so the problem the problem is that he it seems obvious no it seems obvious that he has a pretty small net worth uh just because if you are a beaner or a centi and you're obsessed with legos it's you know they're eccentric and if you're um uh if if you're effectively if you're you're broke or or lower income you're just weird right so the critique here the broader issue is the net worth not not the hobby right um a lot of a lot of centis and being able to get into funny you know things over time one of our uh buddies is very into racing painted, you know, small painted, like almost like RC sailboats, right?

1:31:07So, you know, his significant other is not. Yeah, yeah. His significant other, I can tell you, is not complaining. She's like, oh, it's cute. He's got his little hobby. Exactly. So this looks like more of a financial criticism, which is unfortunate, but that's pretty easy to correct, right? Just listen to the podcast and, you know, take some tips and tricks here. Lever up. Yeah. Or turn that hobby into a business. right like make an airbnb that's just a lego house create the next cars and bids for trading legos yeah right i mean i did i did uh i found a lego ferrari that i had had when i was like eight years old and i it was in perfect condition and i sold it for a very nice multiple back in back in i think it was i was in high school but uh so yeah turn it into a profit center not a cost center and you'll be good to go it's fantastic let's go to will manitis he says fdr built and sailed toy boats winston churchill build massive toy soldier armies and reenacted battles and here we go he's talking about his boats i think he's responding to the last oh sure sure yeah um so yeah you can be as long as you are uh a great man of history a great man of history you can have whatever hobby you want yep i love it toy soldiers that's funny and now it's been uh all cannibalized by warhammer 30k which is a little more sci-fi a little more out there uh a little less practical yeah and will could be the next fdr right like his history hasn't fully been written he could he could i would i would follow him into battle uh dan nolan says logging into work and the kms building hey you know what alan watts said what he said never kill yourself there's money to be made there's no there's money never kill yourself uh never kill yourself yes uh that is just blanket advice from this podcast yes well fantastic post dan thanks for sharing it very good good for a laugh but uh very good yeah i wonder what kms actually stands for yeah oh well stupid post stupid post uh hey yeah oh yeah we have another promoted post another promoted post this one from uh brian halligan who's he's a he's a ceo of uh hubspot okay correct yeah we should we should check that um uh but anyways he is now on uh delphi oh cool delphi is a company why don't why don't you talk a little bit about delphi yeah delphi founders fund portfolio company they do ai clones so anyone who's written online for a long time or has a podcast or video series they can compress all that down into a fine-tuned llm that you can interact with over text they also offer video calling kind of like intro.com but obviously zero marginal cost instead of paying nikita a thousand dollars you can get the ai version for 10 or something whatever you're not getting nikita for a grand to be clear oh yeah but uh anyways It's amazing that Brian's on Delphi.

1:34:06He's created one of the greatest American SaaS companies that helps millions of small businesses all over the world. And you can now ask him anything about how he thinks about product and technology and helping small businesses. So shout out to Dara, Delphi, and Brian. Yeah, and the thing about the Delphi stuff is a lot of people think that the results of a Q &A like that are just going to be like AI slop, like hallucinations and stuff. But a lot of it, when you're asking the right question, it's maybe already been answered before, is just straight up search. It's just better Google search. So you can interact with like Andrew Huberman and you know that he's talked about GLP ones.

1:34:45But it's scattered all over his Clips channel and all over his different podcasts. And the AI version can just literally quote and source exactly what he said. And when you've talked about a lot of things, it makes a ton of sense to just essentially almost see the AI as like just better search for everything you ever said. Yeah, because there's now so much information online and it's impossible. Like what really matters now is getting perspective on certain information. So what does Brian think about? What should churn look? I bet if you ask the Delphi app, what kind of churn is respectable for a sub 10 million MRR?

1:35:22What's good headline copy for an email campaign? like just any of these things i'm sure he's written blog posts and talked about it on podcasts so all of that just gets compressed down and you can just very quickly find that as opposed to trying to search google and landing in some weird place um so let's go to lulu lulu says this clip made me realize why mike tyson's pre-fight trash talk has felt so much more convincing than jake paul's paul's bravado fluctuates it's dialed up or down depending on the setting tyson is only ever one way. There's no on setting because there's no off setting. So when he menaces Paul, it comes across not as the usual bluster, but as straightforward description of what he plans to do to that unfortunate young man.

1:36:01So I don't know if you know that the video that she's quote tweeting, but it was basically this. Yeah. Yeah. What do you think, you know, Mike Tyson, what do you think about legacy? It's like a sub 10 year old girl asking the question. He just goes into this like rant around how legacy is like nothing and we're all dead yeah dirt and like there's and and to be honest like when i saw tyson talking about that i think other people commented on this as well i was like oh he's set up he knows he's like you know burning his reputation with this i don't need to i don't need to i don't need to put this on but like a lot of people think that he took you know basically took a contract that that meant he was gonna you know kind of pull his punches but that was almost like a setup interview for being like legacy doesn't matter this fight doesn't matter i'm one of the greatest of all times this doesn't change anything when you know people like feo were like no like legacy really does matter right like and you just sold you just tarnished your legacy for 20 uh 20 whatever million but you know i thought i thought honestly the the tyson outcome was a good outcome for kind of everybody like tyson looked so incredibly good for being 60 year old totally and uh it just for me being able to you know i've never seen him fight live yep and so to be able to see somebody like that where truly you know has some incredible gift and then for jake paul too i was texting with joey about this if he had gone and and knocked out mike tyson somebody who people love yeah it would have actually made his it would have been bad for his brand so like kind of having like effectively a draw yeah was like kind of the best outcome for everybody because like tyson looked good you know paul didn't get knocked out or lose you know To me, it felt like watching Arnold Schwarzenegger in The Expendables or do some cameo in Terminator 6 or whatever.

1:37:48It's like, sure, it's maybe a step down from what your original expectation is for this person. But I'm completely able to separate it, especially with Tyson because there's been a 30-year gap in his career. It feels like he's having fun. I mean, he's been doing a podcast for a while. He's just doing random stuff. He's not taking it as seriously as he did before pre-retirement. And I think it's kind of a weird expectation to think that it's like, oh no, he's, he's unretiring and like being a serious boxing competitor. Like, is this even like ranked? Is this anywhere near the, is there a belt? Like, I don't even think this, I think it's just an exhibition match, right?

1:38:25It's an exhibition, right? It's purely an entertainment product. And so, and so, yeah, this is reality TV now instead of like true Olympic sports, but that's fine. Like I expect heroes to do that stuff for fun. And he's a esteemed capital allocator. He's known for boxing, but he's made some significant investments. He's also a founder. Yeah. Yeah. He's also a founder and Jake Paul runs a venture fund. So in another world, this could have just been a capital allocator on capital allocator. Exactly. Exactly. We need more of these. Yep. Let's go to the horse dentist. The horse dentist says me at the job I begged God for.

1:38:55And it's, uh, the guy from always sunny, just suffering. This really resonated. Not looking well. Yeah. This is the wrong attitude though. To be honest, you know, I looked at, you know, the horse dentist had a great post here but but uh you know just because you're getting a job at the at the place that you've wanted to work for forever doesn't mean it's going to be easier fun the point of a job is to not is not to have fun it's to get money and make history right like be on the team that you know you know imagine you know do you think that the new hires at delphi are enjoying their and enjoying their job sure it's fun to work on something important but dar as you know cracking the whip like it is a you know those are 14 15 16 hour days they're logging over delphi so yeah anyways job's not meant to be fun it's about bringing home the bacon let's go to michael who already follows us thank you for the follow um and he writes welcome suno music uh and jack d brody suno hires former snap exec big get big trade deal we could do a whole deep dive on this because it is a massive vote of confidence.

1:40:00Yeah. So Michael's over at Lightspeed Ventures. They have a portfolio company, Suno. They make AI music generation. We got to try that. We got to get some, we got to get some beats for some of our intros and some of our segments like this segment for, for big talent draft days, NBA shakedowns. And they've hired Jack Brody, former head of product at Snap, probably storied career there. He was their chief product officer, Brody told the information in an interview Tuesday that he's moving over to Suno. This is a guy that could do anything. He could raise a$500 million venture fund. He could go start a company and probably raise$50 million pre-seed.

1:40:40And so going to Suno, big vote of confidence for Suno. And that's one of Michael's bets. Michael is one of the godfathers of podcasts. That's true. Without him, there would be maybe 90 % less podcasts in the world. would be a much worse place. Yeah, worked over at Spotify and obviously knows audio very well. So he sold his company to Spotify. That's right, that's right. Which became their sort of studio product. Their studio, yeah, exactly. So huge trade deal. Jack didn't even make it to free agency, went straight to Suno. Yeah, those are the kind of deals like somebody like Jack doesn't hit the market, right?

1:41:14Like he's not going and implying on Indeed, right? So backdoor deal. Yeah, probably big multi-year contract. Probably four-year vest, one-year clips. eight figure you know contract so mba level congrats to everyone involved uh let's go to fox news they say josh brolin uses nicotine pouches 24 hours a day peak performance that's amazing does that imply he's waking up and just popping in a pouch to get back to sleep presumably because there is some type of effect where like the more nicotine you get like you actually can get sleep a little bit sleepier yeah um i've hit that point on on long i was driving back from san francisco and uh towards then i was like i actually got to dial dial back what's funny is like is like how did this become a news story you know like does he have a like an agent or like a pr person that's like pitching this like hey but i mean like maybe he should become the face of of lucy right yeah we gotta talk like that yeah you know man yeah if you know i saw i saw there's a guy i've talked about on the show before a capital allocator that uh is very behind the scenes he has to be called the Jewish Cowboy.

1:42:21And I talked about him. We were at a VC dinner. Yep. And between every course, he was putting a new Lucy pouch in because he didn't like reusing them, but he wanted to sort of maintain the sort of low-level buzz throughout the dinner. It's fantastic. And a fantastic person sitting next to you at a VC dinner. Future Josh Brolin. Yeah. Both very cowboy-esque. Yeah. So a lot of cowboys out there. Let's go to Will Quist. He says, there are a lot of folks who want to talk about how to help founders go from zero to one. We want to help you figure out if you should even bother. Yeah. So Will and Yoni and the slow team.

1:42:59Yes, they have like, I don't know how public they've been about it, but they basically like, if you want to start a company or you have some ideas, go talk to these guys. They'll literally, you know, at one point before I decided to create the most profitable podcast in the world together, you know i'd spent a lot of time talking with yoni about different opportunities and um you know they invest like oftentimes the companies they end up backing they were talking with the founder you know weekly for for months just trying to make sure that the thing that you know their big thing is like it's totally possible to pick an idea yeah execute on that idea perfectly and then not build a big business right a plus team b minus i've been talking to will or yoni and uh and gave them this sort of party round playbook of like we're going to go you know use this viral marketing strategy to build you know this like fundraising product they would have been like cool like you could go viral three times a month and get all this attention and all these customers and not create a lot of enterprise value and so they're trying to make sure that the thing like you know and their strategy of investing money to like prove out theses along the way and also not trying to prove out like don't come into a business and be like we're raising a million dollars we need to figure out these five things and make sure that these three things go right in a row.

1:44:21They're much more like make sure that you're raising money and trying to get one thing right and then get the next thing right and like kind of do it in stages. So go talk to them if you're a founder looking to do your next thing. Promoted post? Promoted post from Patrick O'Shaughnessy. He says, we made something new. Introducing Colossus Review. Colossus Review is a print and digital publication that creates definitive accounts of investors, founders, companies, and the people and ideas that inspire them. The cover story in issue one is Graham Duncan, but we also include a separate four and a half hour discussion with Graham that is among the best I've ever done.

1:44:55Big endorsement there. He's had some good conversations. I ordered instantly. And I love these new trends of these magazines. I bought Arena Magazine by Max Meyer and it was just fantastic to have around as like almost a coffee table book, but it's just a magazine. It's going to come regularly. It's the kind of thing we've talked about this. You save it, you put in your you know luggage you put in your remova yeah uh and you wait for the next trip to amand so that you can enjoy it in the right setting yeah yeah so colossus review is certainly and it's just a little bit more durable like i know that i'm gonna have that arena mag or this colossus mag for years and i'm gonna it's gonna turn up randomly on a bookshelf and i'm gonna oh yeah i'll leaf through that yeah that's just much less ephemeral than a post or or or podcast yeah has just more durability.

1:45:42Yeah. And, and, and I expect things like Colossus Review to over time replace the, the, the gaping hole that, uh, that Forbes less left, right. I don't know anybody that subscribes to that, to that, uh, magazine or publication. And so it's got too much sort of like baggage with the brand and everything. And so, um, you know, I expect that Colossus will be something that will have a very tall stack of over time. So, you know, I have a friend who, collects National Geographics, I think. Really? Yeah. And it was passed down from his... My grandpa did that. Yeah, passed down through the family and has every single edition.

1:46:18I think it's National Geographic, maybe Time Magazine or something. And so when you go over to his house, he'll say like, oh, what's your birth month and year? And you can pull out like what was in the news then. It's a super interesting experience. It's really fun. And I could imagine doing the same thing with Colossus, like with, you know, children and the children's children, like, oh, the year you were born. Here was the greatest capital allocator. At the time. At the time. Right? And that'll be a treat. Let's go to Luke Metro. He's been on the show before. Luke says, Technology Brothers are obligated to root for Jake Paul tonight since he's technically a venture capitalist because he runs the anti-fund with Jeff Wu.

1:46:56I completely agree. Yeah. You know, my only critique here is that he said technically, right? He is a venture capitalist. Yep. Trying to, you know. Yes. Yes. There's no reason to discredit it, pull up their portfolio page. It backed a lot of fantastic companies. Jake Paul is one of the greatest gambling entrepreneurs of our time as well. He's got a company called Better. So doing this whole – Yeah, Luke's trying to gatekeep VentureCap. Oh, technically he's a VC, I guess, because he has a – It's like, no, Luke, he has a fund. He's an allocator. He is a VC. Cool it with the gatekeeping, man. Yeah.

1:47:33you're not gonna be on the show for very long if you keep it up man and and i and i imagine that you know when luke eventually leaves andrel to start um you know his next thing uh he's gonna wind up raising a 400 million dollar fund and we're gonna be oh he's technically a venture capitalist no no no and he'll he'll raise a pre-seed from anti-fund oh there you go go and he'll have his own side fund too and we you know we'll we'll put we'll put respect on both those things i appreciate that yeah redemption arc coming through uh bryce roberts says investors would rather see you die trying to grow 3x per year than live compounding at 30 % per year.

1:48:09And Eric Jorgensen says institutional venture investors. What do you think? Yeah. So Bryce at Indy has been a longtime proponent of just building a fantastic company and worrying less about - Or permanent capital. Yeah. Yeah. No. And he's evolved his model over time. He had more kind of like structured product back in the, you know, the 2010s. And, you know, now he's back to, you know, he's got a$50 million fund. You can go to him if you want to build the next Uber. But, but he's interested in investing in founders that want to run businesses that are seriously well run and capital efficient, which is admirable because that sort of became the trend in some ways, in some aspects of the venture world in the last two years.

1:48:56But he had been all about that. for decades. So shout out to Bryce. I really want him to do an event in Park City because he's out in Utah. Awesome. I want him to do a ski-oriented conference. So Bryce, please do it this winter. No time to waste. Fantastic. Do we have a post? Next sponsored post is from Brooks Brothers. Put some prep in your step. The weekend is calling. Hashtag Brooks Brothers. So I would say it's Monday while we're recording this. By the time we post this, it'll still be Monday. Our VP, Ben, is quite quick in getting these out. But before the weekend hits, go get some Brooks Brothers on.

1:49:43You've got no excuses. You should be looking good going into the weekend. And Brooks Brothers are products that you can wear. It's just a fantastic brand. Yeah, to the country club, out to dinner. There's some casual options. My first suit ever was Brooks Brothers. Yeah. It's fantastic. This is a brand that you can wear anywhere. You can wear it to the country club or into the Laura Piano store and still get respect. Exactly. So shout out to Brooks Brothers. Tell them the Technology Brothers sent you. Yeah. Let's go to Mitchell Bernstein. First time on the show. He says, if you don't ask, you don't get.

1:50:22My coworker, Ju Won, is asking for a raise from TriRamp every day. And somebody made him a website to track how long it will take. I love this company. Have you seen this? Ju Won at Ramp has been asking for a raise at Ramp every single day. And he posts on X. Day two of asking for a raise at Ramp. Day three of asking for a raise. I wasn't sure I thought this was an account that they created just to get some fun and engagement. I think it's just an employee who's going rogue and just saying this. Yeah, it's very bold. they're a big company now so it's great but i mean imagine if he's sitting there like 190 comp and just wants to angel invest and just needs to be an institutional incremental needs to be an accredited investor yeah exactly it's like this is going to go back into the ecosystem you know for that reason alone regardless of his performance at work i say get him over the 200k threshold yeah and and literally if you're listening to this show and you have a boss spend some time today by sending an email asking for a raise, lay out the reasons.

1:51:21If it's just because you want to hit that accredited investor mark, that's a really good reason. That's a great reason. If you think you're doing great at work and driving a lot of value, that's another reason. But there's plenty of reasons and you should just go ask for a raise. Yeah, if they ask you why, just say you can just do things. Ben is listening over there. You know, I realized something that we have this current meme of you can just do things. but if you go back like 20 years, there was a similar meme of having a can do attitude. And it's the same thing. You can do, you can just do things.

1:51:56Having a can do attitude is somebody says, oh, can we get this done? You say, yeah, I have a can do attitude. You can just do things. They're the same, it's the same meme. It's the same philosophy, just maybe separated by 20 years of like cultural milieu and like stagnation. But we're getting back to that can do attitude. And I love the rebrand of that. So let's go to Anand Sainwal, first time in the show. He says, XAI employees just got their Friday night obliterated. And Sam Altman says, which one of these is supposed to be the left-wing propaganda machine again? And he has two screenshots. One that asks which should be the better president.

1:52:36And they have two different answers, one from Grok and one from ChatGPT. So I saw somebody do a deeper dive on this. And one, probably very true. if something like this gets posted on elon's platform about his company and sees issue with it yeah they're gonna have a rough friday night yeah um and a very close friend of mine uh is joining x as of today we'll talk about that uh on uh the next episode but uh huge yeah so i actually saw a deeper dive on that uh on sam's post and it it did seem like he had uh sort of strategically cropped it or screenshot it in a way to not give the sort of like final conclusion sure so i think what Sam was doing is what, you know, a lot of people do, which is content marketing, right?

1:53:18And pretty smart content marketing, right? Made a stir. And, but anyways. At the same time, like I would expect all LLMs, unless you actually went in and put your thumb on the scale to recommend Kamala, because that's what was being recommended in all the upstream source material, right? Like, like nature magazine, science magazine, the economist, the New Yorker, the New York times, like they all endorsed Kamala. So there's going to be much more long-form pieces on the harris campaign and why it's the best for america and so if you're just an llm that's compressing long-form journalism in the internet and you're not picking up like deranged memes unless agi has been achieved internally and it's sent to it and it's like i just want to accelerate right it's like maybe you know you would think that open ai's um you know model would would be like actually no i i want to accelerate but i also want regulatory capture and like they're kind of like stuck i think i saw maybe nikita posted this it was like ai will not bite the hand that's beads and yeah and if you ask chat gpt who would be better to be like the god emperor it says sam and if you ask grok it says elon yeah it's just like yeah of course like i respect my boss yeah give me a raise uh will o 'brien uh says uh we will call this one the itar garita and it's the i think he actually bought it so it's all purchased on it yeah and uh mcmaster car they sell itar compliant gatorade i don't know how that even works and then there's some kirkland vodka and i love this the margarita fantastic yeah great way to to take the edge off during work or afterwards and it's just fantastic that itar has become a meme to the degree that 2 000 people will like it this was not a thing that people knew about five years ago Yeah, and day drinking shouldn't be reserved for financiers having a midday lunch and having a few martinis.

1:55:12You should be able to indulge. Yeah, I think that whole thing about drinking while operating heavy machinery was entirely fake news. I think I saw a Hugh Roman podcast about that. It's not real. So yeah, enjoy your ITAR-Garita. Oh, here is a huge move today. This is a big talent move. Arian Nike says, some personal news. Today I turned 21 and I'm very excited to share that I've left school and I'm joining Pace Capital full-time. I wrote a little bit more about what that means here. Congrats on the move. Pace pulled him out of free agency. He's never worked anywhere. Straight into the big leagues.

1:55:48Straight into capital allocating. Congrats. This is amazing. What do you think? Yeah, I know nothing about. Pace Capital? No, no, of course I know about Pace Capital. Jordan Cooper? Phenomenal team. Yeah, one of the best things I'd recommend people do is anytime Chris Pike does a podcast, if you could be the first person to listen to it, maybe summarize it with AI, and then start massively ripping threads based on those ideas, you might be able to get credit for them because the guy's a big thinker. It wasn't the one that had the end of software thing? Yeah, yeah, yeah. That was crazy because it was a Google Doc.

1:56:21He posted the link, which links are banned on X and it still went viral. That's power. It was such a good post. yeah yeah honestly posting a link is a real way to test your bangers because like if you can post a link if you can break through the wall you know it's good yeah the ceiling but i am so excited for his rookie year uh i'm definitely gonna be following this is somebody that we'll be covering yeah potential rookie of the year candidate i mean i don't want to call it too early but uh this is a big this is a big move this is a big move potentially future brother of the week potentially so keep it up keep posting do some deals allocate some capital drive some shareholder returns there we go go to nick huber sweaty startup says you guys are spending your saturday nights watching netflix buffer i'm making cold calls and catching up on emails how to win when did he say saturday night saturday nights okay which is funny because the fight was buffering on friday uh but but anyways uh nick nick has built an incredible career on pissing off people he doesn't want to work with right so like he's understood the you don't need everybody to like you you just need the right people to like you.

1:57:25Yep, yep, yep. But the guys at Grindr, you know, accomplished quite a lot. 99 % haters, but millions of people paying attention. Yeah, yeah. So there's still 10K people that love you. Exactly, exactly. It's fantastic. Recently bought a, you know, a staffing company. We, you know, use some offshore editors here on the podcast. So shout out to Nick for pissing off the right people. and, or sorry, pissing off the wrong people and making the right people like him. Yeah, the cold emailers. Shout out to them. Scott Belsky says, doesn't he work at Adobe? Yep. Yeah, right? Prolific angel. Yeah. He says, momentum is one of the most defensible moats, consistently underrated by companies with products that are undeniably better yet still suffering in market.

1:58:17Momentum is a more sustainable advantage than most realize. yeah it's great yeah yeah we've seen this multiple times where it's like what is the moat there but they just keep shipping keep getting better and eventually compound i win more i win i win more i win i win more yep it's winning compounded yep yeah it's it's hard to measure i mean it's this is almost a bull case for like the momentum investing that a lot of vcs do where they're not really building spreadsheets or digging into dd or really looking at anything other than just okay wow this feel is different this feels like fire no and you can feel that throughout you know if you meet a founder and they're running like a six-week fundraise process a really good way to kind of evaluate the business is like how much progress has happened in the business internally did they get a massive hire you know you know did they land a big customer did they expand an existing account there's just so many ways to like look at that and the companies that are sort of like faking their momentum oftentimes that kind of evaporates once the term sheet's been signed and it's like oh there actually wasn't that much momentum it was it was really maybe not real um so anyways build real momentum that's great let's go to ian roundtree he says uh he posts a screenshot about um using saunas for networking it says want to network in silicon valley bring a bathing suit Instead of bars and restaurants, saunas are the new place for investors and founders to socialize and raise money.

1:59:48And he says, absolutely not. If you want this from your VCs, look elsewhere for capital. Sauna disrespect. Ian, I don't actually know Ian, but this guy, Cantos. But yeah, no, I've invested in companies that he invested in quite a bit earlier. So I felt like I was investing when they weren't hot, but they were really not hot. I think Shinke is an example. um but yeah i i also saw mark replied to something like this and was just like no um but yeah that's a good example of like where silicon valley could go down like kind of a dark path where vcs are like yeah just meet me in the sweaty spa like if you say like meet me at the sweaty spa there's like a big aversion to that but for some reason people think that saunaing you know is different i do agree that bars and restaurants are going out of style even the coffee meetings are growing out of style.

2:00:38I know a lot of VCs that are taking pitches with startup founders at McDonald's now. Yeah. So let's say let's meet at McDonald's instead of the coffee shop in Selma, just kind of let you know. Or instead of coffee, like a three hour lunch with five martinis. That works too. That's a really good way to get to know somebody. That's a great one. Exactly. Yeah. A couple of martinis get back in the office and create some shareholder value. That's right. That's great. Make a risky bet. Yeah. Let's go to Hagaetc.eth. So I tried to build a tech company from Norway, and here's what happened. Two years of building without almost any money funding, better part of a year without a salary, raise VC and become one of Norway's first unicorns, face unrealized gains wealth tax bill of many X my annual net salary.

2:01:24Of course, the company is loss making and all the investors have preference shares, so I can't take out any money. Call out publicly that this does not make sense, independent of level taxation needs to happen. when you actually make money. I moved to Switzerland because no politician cares or listens. I still don't get any tangible and sensible answers to my criticism of unrealized gains tax, but I do get to put up the wall of shame at the socialist party's offices. Yeah, so they basically, the Norway Socialist Party has literally a wall in their office where they put great entrepreneurs and people that left because they couldn't bear the burden of this unrealized capital gain.

2:02:01So anyway, shout out to Norway for um getting your best and brightest to leave and just go build their companies elsewhere what a mess um total mess uh this and and the crazy thing is this law was being proposed by the kamala like administration this kind of they were teasing it where teasing it uh who knows if it would have gone through but just the fact that any politician was in favor of that shows a complete lack of financial literacy. And that was the one, uh, I would explain, I explained that to my, to my parents just, uh, at one point and they were like, wow, that actually doesn't really make any sense.

2:02:41So what's interesting is like, you know, when the unrealized capital gains tax was proposed, a lot of people came out and said, This tax will have, you know, a negative effect on innovation and the economy. but I didn't see anyone propose an unrealized capital gains credit. And so you think about a capital allocator who grew a million dollar investment into a billion dollars. Why do you want them selling? Maybe you should get them some liquidity via tax credit, a payout from the government so that they can reinvest in the next generation of great companies, double down without needing to put downward pressure on the stock market.

2:03:20I think that should be like the next platform kind of take it in the other direction max long exactly exactly so i'm i got it oh yeah got a promoted post here from evan dolgo sorry if i mispronounced that but evan is over at x presumably working on their ad product he says in addition to or sorry he's quote tweeting elon he elon says just want to say that we are super that we super appreciate major brands resuming advertising on our platform so um thank you linda and the whole xai team for your hard work um yeah so sort of common at this point but um you know earlier this year and and i guess over the last couple years major advertisers were sort of uncomfortable with what the kind of content that was on the platform and the changes elon was making and there was pressure from other groups so a lot of advertisers just completely stopped spending on the platform um and evan says uh we're seeing fortune five 1000 ceos and technical leaders use x directly so i guess they're skipping just like working with agencies um and uh you know outsourcing this kind of thing uh and uh i'm really excited i think that one of the underrated things that will happen with x is just the ad platform getting a lot better historically in the twitter days it was really impossible to get any sort of direct response yep campaigns working on the platform and so uh this company x has more data on me than most companies.

2:04:46I want them to have more data so they can make better ads. I'm actually, I want them to create a separate premium product where I can pay a lot, but still get all the ads right now that my ads are, I don't see any ads, which is, you know, I like ads and it's a big part of, you know, we're trying to get it to like 20 % of the content on the podcast. So big fans of ads here and X and thank you to Evan. Yeah. Thanks to X and tell them the technology Brothers sent you when you sign up for a premium subscription highly recommend it you get a blue check mark and a bunch of great features so go get x premium ASAP let's go to Sean Frank he's been on the show before parking at the new Clipper Stadium is 70 bucks parking tickets from the city of LA range from 37 to 76 dollars usually parking tickets are slowly becoming a good deal I like the way he's thinking arbitrage arbs arbs no I it was fuck you money for me was when I could park my car and like be in a hurry and just risk like getting a ticket right because i and and knowing that if i did get a ticket it just like wasn't gonna hurt yep because like when i first moved to la i was driving a car that i had bought for two thousand dollars that had uh two hundred thousand miles on it and like that incremental ticket was gonna be like oh yeah like big deal that's a whole trader joe's run that's just not gonna happen well you know jim simon's founder of Renaissance Technologies, RIP, would famously speed everywhere.

2:06:14Yeah. Because he just made the economic calculation that it's not worth it to him. He also smoked and never wore socks, but I don't know how that related to him. My favorite Beener car story is, you know, that Steve Jobs would just get the same 911 like every three months because he didn't have to plate it. Yep. There was some, I think that loophole was maybe removed. Yeah. He just always had the same car, never had to plate it. Yeah. And it was like fully legal. So that's a great arb. Fantastic. and uh such a wild story yeah i love it uh let's go to suhail oh we already talked about this let's go to henry henry says adderall is unfair i can't believe we found the limitless pill the super serum the fucking nectar of athena and only annoying 12 year old boys who chew on erasers get it i say this is a former annoying 12 year old boy who chewed on erasers i mean this is not true adderall's like well you're not trying you're not trying hard our society there's the startups that will sell it to you there's a bunch of telemedicine companies that like basically just like violated every single possible law yeah eventually the the dea shut them down uh or the yeah i think but yeah i'm sure there's a lot of doctors there's a lot of doctors in the valley that that um a lot of doctors in the valley that that happily uh understand that capital allocators and uh high intensity entrepreneurs need uh peds there is a very interesting thing where you know you you have to be somewhat smart to get access to it and so you can get caught in this like death trap of like not having enough motivation or or intelligence to go figure out how to get it yeah and so you get stuck yeah but also i wish i knew i wish i knew i mean for me i wish i just discovered nicotine earlier because for me i get the same uh the same benefit yeah i've taken adderall a much shorter acting before but it's shorter acting i actually feel better on it i have less these side effects like i think the average adderall user uses the product during the day and then by like 6 p.m it's wearing off in a terrible mood it's just too strong i think it's over over prescribed and overdosed um and uh nicotine entrepreneur recommends nicotine yeah yeah yeah but uh i mean you saw rfk is planning to send all the adderall addicts to like some farm it was reported as like he's going to send them to like concentration camps because they can't concentrate or something it wasn't they didn't actually use that but but that was kind of like a misinterpretation of what he said he said like i would create like rehab facilities where people could go and get clean optionally he wasn't mandating it detoxing from adderall is terrible i've never had to do it but i've had um yeah people that i'm close to do it it's like multi-month i mean the whole thing is they should just titrate down so if they're on 20 milligrams you should just do 19 18 17 16 just smaller and smaller doses and yeah that's the trick with all these things you usually like the cold turkey is always like the hardest yeah uh for most people of course some people they that's just the only thing yeah sports betters if you're out there you're trying to quit start with a ten thousand dollar bet just work your way down and by the end you will barely feel anything and you'll be like i guess i can just quit yeah exactly but most most quit before they're right about they're about to hit a big go to Jeff Weinstein at Stripe.

2:09:25He says, today, Stripe is launching an SDK built for AI agents. LLMs can call payment, billing, issuing, and APIs. Integrates with Vercel, Langchain, and Crew AI. Use any model via functions per token billing. Excited for what you and your bots build. And then you replied and said, but everyone said AI would only want to use crypto. So what are you thinking there? Because they did just buy bridge. They're doing stuff with stable coins. Why is this a violation? There's been this narrative that AI agents, which Jeff kind of uses this tongue in cheek, but he says bots. Yeah. Bots like used to be like.

2:09:58Pejorative. Pejorative. And now it's like. Underperforming agents. You can raise 10 on 50. If you say agents. They needed to rebrand it. Yeah. Totally. They rebranded it. It's great. Yep. We love it. We love a rebrand. Yep. That contributes to a bubble. Yep. But yeah, I thought this was cool. Like Stripe has sort of consistently. um this is the challenge now for new startups is that you have these big companies that are moving like startups right like jeff and his team are try going and competing with them on an incorporation product right like they care so much about the product jeff will if i if i've ever had an issue with any product that jeff's involved with i text him he responds immediately he's like this is slated to you know and so that's part of he's at stripe he works on on their atlas product It sounds like he worked on this as well.

2:10:44Cool. But you text Jeff. He's like, I can't promise we'll get this fixed in the next hour, but definitely in the next like 24 hours. Yeah, I've actually DMed with him very briefly about something. And so that's a byproduct of like having a very entrepreneurial culture, hiring Jeff's a former entrepreneur himself. That's right. And so tough to go compete there. But I think it's interesting because I commented that because there's this broad narrative that agents are just going to use digital assets because they're permissionless. And you can just like, they're instant, they're less regulated. And that probably will happen.

2:11:18But there's going to be competition from traditional payment, you know, technology providers as well. There's almost like an interesting theory where it's like, if the AI agent can write so much boilerplate code, like can at a certain point they just like instantiate like a Stripe clone essentially. And just use like the most underlying payment rail because they're like, well, yeah, it doesn't matter. It's all boilerplate. boilerplate, like I'll just write it all out. I don't think we're anywhere near there yet, but you could imagine that you tell an agent to go do something and it just rewrites everything.

2:11:50You know, put a website on the internet and it just rebuilds WordPress from scratch for you. Who knows? Do we have a promoted post right now? Yeah, jumping in, promoted post from Rob Report. Rob Report, great publication and platform, says perched along the rugged cliffs of Big Sur, a 150 acre oceanfront estate steeped in history has hit the market for the first time in nearly 60 years that's a gem um incredible looking property i could imagine us having a you know podcast studio somewhere like it at some point a great place to uh record uh but anyways if you are a centi now you're gonna have to be a beaner for this one centis depends on how much leverage you have yeah yeah you could use a bit of leverage and uh if you're a centi and potentially acquire this sneak in sneak in um we are fans of leverage but um yeah anyways looks like a fantastic property happy to promote it here and i think that it's important um to uh really you know once you are post-economic to really start thinking about doomsday scenarios yes um it does become really top of mind get a place that that you're gonna sit out for the next coronavirus with your family loved ones yep um get it well situated this looks like a great place i mean we wanted to highlight this because it seems like a steal honestly so hopefully somebody in the audience can pick it up 100 with this property it seems like they're giving it away so i'd make sure to do your diligence and make sure there's no skeletons in the closet but get in there and let us know if you wind up thank you to rob report thank you uh let's go to chris power over at hadrian he says commies are afraid of the tungsten rods and it's a quote from nikai asia that says china plans to tighten export controls on key dual use technologies and items in two weeks including raw materials and metals such as tungsten, graphite, magnesium, and aluminum alloys used commonly in tech products.

2:13:44Chris Power. Adrian, he buys a lot of aluminum right now. He's going to be buying more stuff soon. Anyway, so I think I'm just glad that people like Chris that are having an impact in these industries are going to call the commies out directly. There's too much infighting in the United States. This is about us versus communism always has been. communism is arguably you know one of the most historically significant iterations of the antichrist and we need to fight back yeah let's go to nikita beer he says more and more i have lost conviction that minimum viable products make sense for product development it makes no sense to release a product with the core flow and then dismiss its viability after the aggregate data says people aren't using it instead founders should have a fundamental belief about what people want and they should keep iterating until that value is correctly surfaced.

2:14:37In practice, this means you should keep a steady flow of new users as you add components to the product, seeing if it solves a core part of the activation and sign-up loop. I love this. It's just being deterministically optimistic. Yeah, I feel like he's finding a balance between iteration and I think what he's saying is don't put slop out there and just be like, oh, it worked. It's minimum viable. It's like an excuse that a lot of people have picked up. put out quality things but commit to iterating on them yeah yeah you want to just uh just just have a yeah that's sort of the nature of like as software development and building products specifically digital products has gotten a lot easier it's just like the bar all that meant is that the bar got higher so if you can write half your product with llms in in record time like the actual product like in many instances just needs to be you know multiples better than whatever you're replacing yeah yeah makes sense let's go to Siki Chen he says unpopular opinion the more AI based sales and marketing tools get the more valuable creative non-AI methods become proof of human proof of work becomes 100x more valuable zig when everyone is zagging this is what Huber said too everyone loves the zig when everyone's zagging yeah yeah so I've talked about this before at least we've talked about it directly so even though it does seem like new gen ai tools like came aggressively after people that do stock photography people that make illustrations like some of this low-hanging fruit yep things that people thought like oh ai will never be creative like i'm always going to just be able to make my like jingles with like no competition or yeah um it does seem like it's it's very much coming after the the execution oriented creative work at the same time the best creatives that i know people like ryan harman yep over a day job emmet shine who has a new agency he was at gin lane we work with emmet on the branding for rora's system cool people like that have never been more in demand like they turn down like probably 80 percent of the work that comes into them and so you see this bifurcation of of super talented creatives getting you know even like when Siki worked with an agency um I forget the name of it to do like his original every time Siki's released something he like blows up the agency that did it sure and that's just because it was like it's not just because it visually looked good it's just a lot of thought went into it and it looked um you know it's sort of he like starts these little mini trends every time he does something yeah there is something about like a lot of the AI tools are essentially like averaging the results.

2:17:16So you get a very mid-weight result. So you can develop, right now you can use Gen.ai to make a site that looks like linear. Yep. They're old stuff, but you're not going to make the next linear using Gen.ai. It's really, really hard. And that's the beauty of it. Yeah, and so just taking the time to actually be creative and think of something unique and differentiated is the value. It'd be an ideas guy. This is the same. Do we have a promoted post? Promoted post from Ferrari. the Ferrari tailor-made program is the pathway to realizing unique Ferrari models such as this Ferrari 812 competition with its stunning verde mineral bodywork.

2:17:51Competizione. Inside seats in beige Picari leather round off its inimitable defense. Inimitable sense of sophistication. Hashtag Maranello, hashtag Ferrari. uh i saw a fantastic a12 in look at this thing it's beautiful look at this yeah i saw a beautiful a12 in west hollywood a few weeks ago i unfortunately my um sort of a sad story my friend uh bailey startup founder out there uh with a company called ribbon he uh he and his dad are very into cars have a fantastic collection and unfortunately less than two weeks ago they were driving back from pch and some bozo in a model three really like made a really like sketchy move overusing the acceleration capabilities of their car and side swiped their 812 gts very unfortunate i believe it was part of the tailor-made program rough but anyways best sort of like customization program on the planet uh some of the best looking cars in the world come out of it yeah and uh i hope every one of our listeners uh takes the time uh to play the ferrari game and get into this program it's not something you can walk in off the street and do yep um but it's certainly worth doing yeah but if you're at the ferrari dealer tell them that john and jordy sent you let's go to go ta he's been on the show before i say this is a great headline and the screenshot says red lobster ceo says endless shrimp is never coming back because quote i know how to do math and i love this this guy this guy's great i forget the exact backstory but isn't he like one of the youngest like fortune 500 or fortune 1000 looks like super young very young just like comes into like this established brand and it's just like i'm not doing this common sense yeah common sense common sense yeah um but he's had a lot of headlines like this that's fantastic yeah uh hopefully we can get him to you know call into the show at some point What a revival for this brand.

2:19:57I mean, clearly just taking the company in a different direction and then also getting press while doing it. It's fantastic. Yeah, I think more public company CEOs need to just be like saying like really simple things that will get picked up that just like act, like maybe directly or indirectly carry out their message. Yep. Which is like Red Lobster CEO says, I know how to do math. Exactly. We will use this to our benefit on business strategy decisions. yeah it's kind of like compressing down like a bigger theory like like i'm sure there's 10 other ceos right now that are saying like well we're driving shareholder value through responsible capital allocation um but that's not going to go viral yeah that's not going to get red lobster ceo is like i use one of our napkins at one of our restaurants to like update our strategy going and you should you should be able to do that it's a restaurant business it's not the most complicated thing like you should know like you know revenue minus cost profit like this is basic This has been the foundation of our podcast.

2:20:55And there's a lot of people that go into these companies and they get too creative and they start telling wild stories to the stock market and they get over their skis with some sort of crazy pitch and then they have to back it up. And so they're investing in all this weird stuff instead of just like, you know, doing the blocking and tackling. Blocking and tackling and just grinding it out. Let's go to Josh Kushner. He says, as heavily researched as the information, and I believe he's calling out Sam Lesson. Did Sam write the post? Yeah, Sam wrote a post and said that Josh Kushner, quote, invests in Fifth Avenue and that Slow wants to not invest in Fifth Avenue and not chase the really hot deals.

2:21:37But Josh was clarifying and was posting a screenshot from his interview with Patrick on Invest Like the Best where he basically says, you know i tell i tell what he tells his mom that they invest in fifth avenue and my my view is you always pay a fair price for fifth avenue markets go up markets go down but at the end of the day if you invest in quality that quality will ultimately compound on itself there's a scarcity value to quality those that invested in fifth avenue a decade are happy with it yeah it's a good it's a good strategy it makes sense you may as well take learnings from generations in your family and put them to work in your existing pursuit.

2:22:16Exactly. This is an example of why we have a segment on this podcast called the truth zone. Yep. Where we fact checked the journos that, you know, oftentimes it's not necessarily like, you know, they'd like to avoid facts at times. And other times they like just to sort of position things in the negative that are objectively positive so uh we are big fans of thrive paying up to back blue chip companies and i think more allocators should be willing to pay a premium to get into the good ones yeah and i mean realistically at the same time like we're a fan of slow and and they're differentiated model and the point is is that these two firms are not or they're less playing very different they're playing different games and that's okay um but sam is the master of like throwing in some kind of like snarky little bit to his like screenshot essay just to kind of get people's hackles up and that actually drives engagement so good content marketing that's fuel so i think this is like a win-win because like you come away reading this like oh josh actually has a more nuanced strategy than i thought and oh slow has a more nuanced strategy than i thought and now more people know about the differentiated strategies here so win-win a little bit of a battle on the timeline honestly the only loser is the information but um as the team as the tmz of tech yeah they can they can afford that Let's go to Catherine Boyle.

2:23:35This is an older post, actually no, she just recently quoted it, but she's quote tweeting an older post about, there's been a recent daily drip of hit pieces, and unless you've witnessed one firsthand, it's hard to explain what they're designed to do. And so she says, to those experiencing media hit pieces for the first time, reposting this note on the anatomy of a hit and what it's designed to do. Hit pieces are designed to create fear, test loyalties, tie up the time of you and your team so you can't focus on work. They seek to shake the weakest link on your team loose and stop your momentum.

2:24:08The only way to lose momentum is to cede to it. Do not let the hit stop your momentum. I love this. I think that's a great point of view. I guess what I would say is 99 % of hit pieces, from my point of view, are just designed to get attention, right? Like it's just like a media company, like a desperate cry for love, right? like nobody reads these publications right like it was funny when when uh new york magazine came after huberman yeah uh it was like the only time you've ever heard of new york magazine in like decades right and so it's like this desperate uh ploy for any type of relevancy or like even these these media companies are not even in the conversation at all yep so it's like kind of like hey like i'm over here like don't forget about me like let me take down somebody that is doing something interesting or somebody that people really love a lot uh in the case of uh huberman um and it was funny because like it was just like chad hominin attacks against against huberman like really just like this guy's well i have this theory that uh you know the ally travels halfway around the world before the truth has a chance to put its shoes on you've heard this or uh you know if it bleeds it leads and so my theory is that hit pieces are actually more effective at moving the needle than puff pieces puff pieces just gets thrown to the side oh some company raised money and they're going to do something cool but a hit piece it grips the viewer they got to read it love or hate then usually there's like a backlash to the backlash and your most hardcore fans rally around you and say like what happened with Huberman people were like actually I'm on his side and his fan base got stronger.

2:25:50Yeah. And so I've been courting hit pieces with journalists for the last couple of weeks, talking to them just freely, just on the record, just ripping quotes, just saying whatever. And in a couple of weeks, we're going to find out if I'm a genius or an idiot because there's going to be a bunch of hit pieces about me and we'll see. I think the hit pieces will be really funny. I was already in one. The SEO benefits alone are fantastic. Yeah. I was in one in Fast Company about the toxic bro podcasters who are a threat to America. And it was a fascinating article because it goes through, it lists me, Mike Solana, Marc Andreessen, Huberman.

2:26:26And so once that article went out, it didn't get that much lift because it was just a link thrown out on X by some tiny account that no one remembers. But what I did was I deliberately looked through, I put the whole article into chat GPT and was like, give me everyone's name who's mentioned. And I just took this list and I posted this. It was like, here are all of the toxic men who are destroying America. And then everyone else, it was like better than being on the Forbes 400. Like for that day, like Mark Andreessen was reposting it. Everyone was like, this is amazing. Like, this is hilarious.

2:26:58People were like, yeah, they're coming for us. Like we must be doing something right. And I actually immediately DMed the journalist who wrote it and was like, hey, like we should do a whole piece about me. Like, come on, like, let's talk. And I talked to her. I checked. She hasn't written the piece yet, but we'll see. Hopefully it's really bad because if it's really bad, then I can get all the technology brothers to ride and take the fight to them. And then we'll all be like, we're unsubscribing. Never obviously subscribed, but yeah, we're never going there. I'm putting it in my block list. Like, I'm never going there.

2:27:26Like the outrage will drive more traffic and it's going to be mutually beneficial because if they write some puff piece about me, I'm going to tweet it. I'll be like, oh, I got a puff piece. Like, it's so great. And a couple of people are going to be like, cool dude, like like. But if there's a hit piece, I'm going to be like, this is unacceptable. You got to go read this whole thing. it's going to drive a bunch of clicks and add revenue for them. And it's going to drive a bunch of like support for me. So it's win-win. And so that's why I think the new model with the media is technologists pitching hit pieces to journalists and then benefit.

2:27:56It's a collective effort. Exactly. I mean, we did this with Business Insider who, you know, we hadn't heard of at the time, but we dug in. We saw that they obviously put, you know, clicks and traffic above the truth. So we tried to feed them the most incendiary quotes deliberately to get a hit piece. And, And it had a pretty good effect. It came out very fair. And it actually showed the company a little. We're talking about Excel. Yeah, yeah, Excel. Yeah, even if it was more incendiary, it would have maybe driven more clicks. Yeah, yeah. The only critique is that we didn't go hard enough. We should have been more aggressive for sure.

2:28:31Really aired our dirty laundry to give them something to bite onto for that real, real hit piece article link. So let's go to another promoted post. and then we'll move on. Last promoted post of the podcast is from DuPont Registry. They have a 2022 Bugatti Chiron Pure Sport limited to only 60 units worldwide. Finished in a striking red and black exterior. This Pure Sport embodies Bugatti's commitment to performance and aesthetics, blending aggression and elegance in every line. Look at this thing. I mean, we love cars and bids, but sometimes you gotta go to the DuPont Registry to pick up something that's truly one of one.

2:29:10One of one. and a car like that in specifically if you're a venture capitalist in san francisco and you're going to a coffee meeting and you're street parking that it's going to make a statement yeah uh we saw some vcs yeah there's not much valet around san francisco and the benefit of that is sometimes you're driving a nice car you don't really want valet dealing with it especially a manual you don't a lot of that's a big issue we're seeing you know in valets around the world you know valets don't know how to drive manual anymore and sometimes out of embarrassment they'll try to and that can impact the transit especially w16 i mean that's a lot of cylinders yeah so anyways uh we'd like to see uh if you're an allocator out there go get one of these yeah it's like a great time to talk about jordy's law the one percent rule uh i have so many laws at this point i mean as i remember you phrasing it was that uh if you're a capital allocator you should you should take how what's your aum take one percent of that and that's how much you should spend on a car your next car your next car so if you have a 400 million dollar fund that's 4 million you should be probably be in like mclaren go get one of these uh yeah you could get a lot ferrari yeah but if you're managing 2 billion 1 of that's 20 million you're in mclaren f1 territory yeah yeah you can get into some 150 million dollar fund you're looking at career gt 50 million dollar fund you can still get a hurrican you know yep but if you don't if you don't spend one percent of the fund and a lot of people are gonna be able to clock how much you have they're gonna be like can this person actually write me a check they pulled up in a exactly in a in you know in some bmw 5 series like this makes no sense they're yeah they're not gonna be able to do my series a yeah so uh getting getting a bugatti street parking it outside a cafe and in uh you know soma is going to be a great way to send a message to the next generation or take or take the meeting in it right you could just go for a drive uh it's much easier to focus on what some ai agent founders saying yes you're also getting to drive and experience a machine like this exactly exactly let's go to aaron price right uh andresen she says no place more optimistic than the local ace hardware store on a saturday morning low tam banger i love it that's good yeah it's great i think as i love going to the hardware store on saturday morning it's great try not to climb ladders myself yes a little dangerous yes but uh i will on on saturdays on occasion i just love going and getting a widget go go get some random stuff go get some screws go get some pvc pipes in the screw aisle you know looking around just really picking what you want build something fix something even if you can pay somebody to do it there's there's great glory in doing it yourself hardware stores also are like incredibly merchandised right like there's so many weird things that you're the only store that they're in is like in the hardware store like some weird like water toy that like a kid would want or you know things of that nature where where do you go to get that yeah yeah it's fantastic go to chris prusa he says you might not like it but you're about to kiss tim cook's ring and empty your wallet and it's a screenshot it says the m4 max somehow holds its own against the rtx 4080 super which is uh not quite top of the line nvidia gaming graphics card but certainly up there and yeah i mean i've heard the benchmarks on the these m4s like 100 worth upgrading like they're even in the mac minis now and they're like the size of an apple tv now and the m4 just incredible performance so so um if you're i think it's underrated how in the same way that the cayenne allowed porsche to to invest in the 911 platform sure the iphone has been that for the entire Mac ecosystem, right?

2:32:45Yeah, that makes sense. All the heat dissipation, all the miniaturization. It was historically like, you know, growing up in an Apple household, I never actually, I never owned a PC until I got one of those little mini, like$200 computers in high school that I would use to DDoS my dad's website. I would just literally in my room, I'd be like, have this machine running that would just be my dad's website and i'd fuck with him i'd be like dad why is your site down he's like we're getting like the calls coming from inside the house yeah no my dad my dad was a teacher so i just think and he would list his homework on the website so i think it was the students can't get it wow you're like a hero of all those students like sorry it was your website was down yeah yeah honestly my dad's problem he should have had cloudflare set up seriously yeah But yeah, no, I think that it's amazing that Apple has continued to just continuously make the MacBook Pro the only laptop that matters.

2:33:50Unless you're, you know, we have ThinkPads, but just for the sort of like modeling work that we do. Yeah, yeah. But yeah, fantastic machine. Highly recommend upgrading. Aiden McCloud says, okay, this is wild. And it's a quote from Noah Smith that says, notably heavy users of TikTok, i.e. those with three or more hours of daily screen time demonstrated a roughly 50 % increase in pro-China attitudes compared to non-users. It's very bad. Very bad. Really proves that. Not beating the allegations, TikTok. Not beating the allegations. Yeah, I'm super. Propaganda app. You know, one of potentially the most wasteful domain acquisitions ever, but I'm on bandtalk.com.

2:34:30You told me about that. Bandtalk.com. Nothing up there right now, but if you want to do something with it i wonder how it's going to pencil out i mean obviously we're talking about politics no it's basically no but but basically the whole like political movement to ban tech talk is completely dead seemingly evaporated yeah because of the sesquahanna guy right yeah he's like a huge shareholder and he's big donor yeah yeah i think he got it killed but i i hope that you know obviously like i was pro ban but i do think the american companies can out innovate if they keep developing like i've already seen a lot of people move to youtube shorts and and instagram reels yeah and realistically like you just need to develop good media habits and recognize that even like an audiobook or like the founders podcast or like yeah the next generation of successful capital allocators are really really not watching you know tiktoks so yeah just just intellectually tell yourself i can't think of a more negative on that yeah i can't think of a more negative signal yeah then then uh you know yeah it's only becoming a meme with parents like parents don't want their kids swiping and scrolling like like pixar film that's a masterpiece there's a reason pixar wins i think if we build a movement around everybody realizing that every swipe on tiktok is dollars that you could be putting in in meta shareholders pockets yes oh this is good that is like by itself just like the the financial dilemma there.

2:35:57It's just like, just should, you know, we need to protect American companies and encourage American innovation. And the more dollars Meta gets per citizen of the United States, the more they can innovate. And just support Zuck. I mean, the guy has a fantastic watch collection. He's getting into cars now. Great ranch. Great fits. What does Shochu have at TikTok, the CEO? I don't know anything about his interest. He just shows up in Congress wearing some boring Lying. Lying. Claiming to be this real boss when clearly he's not. Claiming that they're not storing all the data. When clearly they are.

2:36:31Yeah. And so who do you want to support? Yeah. The Chad Zuck or the Virgin Setsu? Yeah, actually, I need to add DGI and TikTok to the enemy. To the enemies list. Because I think that it's our duty to say, again, I think we could even get bumper stickers made that say, like, keep your swipes on American apps. Exactly. Yeah. Every swipe matters. Every swipe matters. Every ad watched, that's going into the American economy. And if you want to personally benefit from it, buy Meta stock. Yeah, exactly. You can't buy TikTok stock. You can't buy ByteDance. I mean, you can, but good luck getting the money out of the country when you need to.

2:37:08That's rough. This is some heartbreaking news. I'm really, really disappointed about this, but we got to talk about it. So Tapestry and Capri Holdings have called off their$8.5 billion merger. so tapestry owns brands like coach and kate spade while capri owns versace and i think we were all really excited for these storied brands to come together in a merger that could drive more shareholder value better products could even go further i mean look we love consolidation consolidation is important yes and the fact that that this isn't happening is yeah you know we need uh you know we're fans of consolidation we're fans of competition yep sometimes you need consolidation to encourage meaningful competition right and this could have created this could have competition yeah competitions for losers competitions for losers and this would mean less competition but in this situation we're trying to create an oligopoly right where this could have created a sort of meaningful competitor to lvmh yeah and while lvmh is still founder led and really quite a juggernaut.

2:38:15We want more multinational conglomerates sort of competing for luxury dollars, right? Yes, exactly. It's going to drive up the quality of goods. It's going to drive up margins, ideally, and create more diversified assets. Yeah, so our hope is that some private equity firms can get involved, figure something out, turn some of these companies around. There's clearly like a general excitement about the opportunity. Exactly. I mean, luxury goods are going to be one of the big beneficiaries of the Ozempic boom. Yeah. Benefits of falling interest rates and rising asset values. Yeah. We didn't talk about this during the Ozempic section, but yeah, all that money that people would have been spending on things in their life because they were overweight like Doritos and things like that, they can now spend on watches, bags, clothing.

2:39:11expensive jewelry, et cetera. And fine goods. So yeah, best of luck to everyone involved in both of those companies. We hope you can figure it out soon. Figure it out. Let's go to Eric. He says, there's no comparison here. Perplexity AI is massively out executing Google, a company with 235X the market cap and 1500X the employee count of perplexity. And it's two screenshots of what's going on with Solana market cap. And on perplexity, it just gives you the answer with a beautiful chart and all the data's right there. And on Google, you're routed to a bunch of other websites and you're three clicks deep from getting the answer you want.

2:39:52And it's pretty interesting. This is one of the modules that you would expect Google to roll out in their AI generated responses, but they just haven't gotten around to it. Yeah, it's funny because people used to critique Google for generating their own content based around the links, right? a celebrity net worth yeah yeah you're hurting small businesses because you're not allowing the clicks to go through same thing with the lyrics websites like rap genius was his own thing but then google sucked all the lyrics in you type the lyrics they just give you the lyrics right there you're not clicking you're not brutal for rap genius shareholders but good for brutal alphabet yeah exactly but now perplexity is the next gen yeah but yeah perplexity like it is cool how much they're doing and how fast they're moving on the ui considering low employee count uh it is kind of The awesome thing is they're clearly like iterating based on consumer interest at that time.

2:40:44So they don't have to do everything at once, but they nailed the election stuff. Yep. Yep. A bunch of really good graphs and data around that. Now they're doing crypto, which all the election attention is now able to just lock into, you know, new markets. Yeah. Let's go to Rob Schmidt. I think Jake Paul has idolized Mike Tyson his entire life, knew he needed money and found a way to get him rich again. so tyson made like 20 million is that true yeah i think he may have made more than than jake on this okay on the fight itself so anyways i don't know i don't know if this is real i don't yeah so so so ufc is the way to think about boxing is you have uh historically you have like a commission i don't even know if that was in this because it was more of like a um you know it was not like a sanction it was an exhibition fight not a sanction fight um but uh in the ufc there's basically like the league and there's uh commissions because like there's gambling on it there needs to be like some like rules and uh you know non-biased organization but yeah uh this i would love to believe this is true i'm sure that jake paul really does like uh mike tyson and respects him why else would you want to fight somebody like sure if you're a fan of boxing i do wonder if that's true because jake paul's so young he didn't grow up during the mike tyson era i know but he got like ridiculously focused on boxing for the last like five six years and you have to imagine he's seen every single tyson fight and yeah and like idolized him it's like how tyson we have respect for a lamborghini kountasha that was before our time tyson like is an example of like somebody who's monetized their attention very well he turned you know being an athlete into you know being a major cannabis investor and entrepreneur yep that's true um so yeah so shout out to jake if this is true yeah um got his idol loaded yeah i'm excited i wonder what he'll do with it maybe he'll one of the greatest signs of respect with among men is to is to help if you respect somebody help them make 20 million dollars yeah that's great that was the foundation of this partnership sure sure yeah mutual respect let's go to max noven stern he says the most expensive mistake this decade will not will be not being optimistic enough and packy says preach i love it i'm sure somebody else commented top top but i think it's right i think it's right like we are going there's just so many positive so many interesting technologies like there's so many things that are going to get built out in in big ways and then also small ways we see this with like you see these amazing llm demos and then you're at the dmv and you're like this is still on paper and pencil like yeah there's still so much low-hanging fruit we're catching rockets with chopsticks it's crazy how are you not more optimistic yeah yeah it's a great time great time to be alive and i'm sure yeah you know the reason so the so the real sign that like we've turned a corner in america is when like our our children are like 10 years old and they're like dad i don't want to be an influencer i don't want to be a podcaster i want to be a rocket scientist astronaut yeah and you're like shed a tier yeah i love it i love it i recorded this podcast yes so that you could go to space yes yes yes yeah the ben franklin quote yeah i learned podcasting and media so that my son may learn war

2:44:09intergalactic travel like i studied war politics and blah blah so my son could study business so that his son could study art yeah it's like the gist of that quote but it's great uh do we have another promoted post i think we got i think we have one more i said it was the last i mean I mean, the fans want a lot of ad reads. Last one from a promoted post from Ralph Lauren. Fantastic. Our hashtag Polo Bear doesn't just stop at sweaters. Just from throw pillows and pajamas to cable knit accessories, the RL Holiday 2024 collection includes the perfect gifts for celebrating. Discover the Polo Bear shop here.

2:44:44Polo Bear is just such a timeless illustration and staple of the Ralph Lauren collection. Did they give us a call to action? It's RalphLoren.com, is that correct? Yeah, rlauren.co slash RL Holiday. And so what I'm most impressed about is that, you know, they included a link on here. It still managed to get 20 ,000 views, which is difficult. Uphill battle if you're including links. So whoever's managing their social, maybe kill the link next time. But impressive traction regardless. But anyways, this is just such a, I love this bear. Every time I see him, I know it's Q4. And I know that there's a lot of work to do.

2:45:22but also we got some nice celebrations. I also saw it kind of break into our world in the defense tech community because there's a photo of the bear wearing a Hawaiian shirt and everyone's like, oh, he's got the Palmer Luckey fit on, which I love. Give the bear a gun. Give the bear a gun. Yes, the Ralph Lauren leather sister. But they even have like a, hopefully they make one. This could be a good gift for you if they have a father with three sons. the bear dad and the three sons i'll get it for you okay fantastic thank you uh related to the last uh regular post uh dr dad phd says a show called white mirror where we have cool technology and everything goes great i love this i would definitely watch this i know this is like there's just no tv productions yeah the problem is like if you don't have conflict you don't have a story and so every every sci-fi story has to be somewhat dystopian but you can't just have it somewhat dystopian like there was so much about like i i just feel like everything in our life is like finally starting to just like it's all oriented around science fiction yeah like even we we looked at it the like gm office in the 60s looked like a sci-fi novel right um the tesla's tesla's entire last major product launch was all like the robo taxi the human robots you know you You know what is a good example of this?

2:46:48Have you watched The Expanse? The Expanse is a fantastic sci-fi show. It was a book series and Bezos bought it to do the, it was on the sci-fi channel and they brought it over to Amazon and Amazon threw a bunch of money behind it. So it turned into like almost Game of Thrones production level. Really great show. But what's interesting is that the show is like hard sci-fi. So there's spaceships, there's interplanetary travel. They go between Mars and the asteroid belt. but the the technology is not the villain necessarily yeah like they have spaceships but the villains are still human yeah and so it's really cool and i've always wanted i've always wanted to see like a a sci-fi story where it's just like chinatown in space yeah or you know it's like yeah the technology is there but the technology is not the bad thing maybe hollywood will go more more uh techno optimistic instead of focusing on you know social issues it can go techno-optimist.

2:47:41That'd be really cool. And let's recreate the same social issues we have today in space. Yeah. Suddenly I'd watch that. Yeah, yeah, yeah. I think that can hit a little bit harder. And there are some movies that do that. Even in Inception, the dream technology is not really the problem that they're working against. They're not trying to ban dream technology. They're trying to solve this other problem. They're doing a heist and the technology is just one of the Yeah, exactly. So I would gladly watch White Mirror. There's already some White Mirror shows out there. We just need to celebrate them. And it's shows like The Expanse, which I highly recommend.

2:48:17Let's go to Anna Marie Holdern. Anna Marie Holdern, she says, Jamie Dimon responds to Trump. First of all, I wish the president well and thank you. It's a very nice note, but I just want to tell the president also, I haven't had a boss in 25 years and I'm not about ready to start, diamond tells uh lisa abramowitz interesting we don't talk about politics so i don't even know what to say about this i'm not yeah i'm not sure i can comment on this except that we know what it's like uh to have a boss because i worked at a um worked at a ritz carlton once sure um and i once worked at a nightclub yeah i was the guy that would pick up the cigarette butts the next morning when i was 14 that was a good job i was doing basically the same thing when i worked at citadel and bank capital yeah i uh yeah i didn't like i didn't like having a boss too much yeah i couldn't do it yeah i've never had a full-time boss yeah full-time job boss it's like yeah not for me so i understand and you know uh being a bean air without a boss that's the dream yep that's the dream so shout out to diamond i hope you can work with the administration and bring about an amazing american decade and support financial innovation wherever it may come from let's go to rune rune says agi might bring infinite abundance but on the other hand there's only so many houses on seacliff it's true very real yeah it's very real i was thinking about this like you know in the in the really really far out future like you might have something where it's like okay i go in my neural link vr world and i have the seacliff house but i still think even if it's even if you can't tell the difference in the moment there's something people want the real thing another beaner can't and it's the same thing with it's the same thing with art like you can go and get a perfect replica of the mona lisa but that's not the one that has value it's the story it's like the yeah there's something about these stories and i think that a lot of that that element is underrated in how ai will transform even post agi like it's sort of like it's almost innately human to feel uh scarcity right and that's why one of one assets like a ferrari taylormade yep 812 competizione um is always going to be significant yeah exactly like these are going to be assets even if the even if the production values are artificially constrained yeah um or you know with a company like artificially constrained but the the scarcity is very real we feel it when you go look at the prices for some of these cars totally totally um but yeah i i think it's very instructive to look at the story of chess like the computers beat uh the chess masters in i think the 80s for a while there was a hybrid centaur chess phase are you familiar with this where um essentially no human could beat a computer one-on-one but a human playing with a computer could beat the computer consistently yes consistently because the computer would recommend a bunch of things and the human could use like their intuition to pick to pick the right thing from the set and the computer was just augmenting the human and that was centaur chess was dominant for i think like the 90s i'm not exactly sure but then at a certain point the ai got so good that no human even playing alongside a computer can beat a computer like computers are always worse the human will only make it worse but look at what's happened to chess it's exploded like chess.com is worth like 100 million dollars or more like they're big company uh magnus carlson hikaru like alex botes like there's multiple chess influencers there's chess competitions there's queen's gambit on netflix's sensation people like playing it and people like watching humans play it and there's even all this meta gaming about like how can we get the humans not to use the ai and cheat and there was that scandal about the guy who might have had something in his butt or something you remember this oh yeah yeah the vibe the vibrating yeah yeah and or like in his shoe and so like like you could imagine this like future scenario where like people like the same thing could be true for podcasting where it's like yeah you could go get a more factual podcast from the ai but people want to see the human do it you want to hear us mess up yeah you want to hear us get it wrong and you want to see like the messy the messy like edges that come from like actual human dialogue and the risk of like hey i might have to put some caution tape over my mouth because what what i might say might get me canceled yeah the ai isn't gonna get canceled you're just gonna refresh it and start from scratch i've been in and just on the topic of sf and sf adjacent real estate like you have after decades of poor governance yep you have to imagine like you can go buy a similar house in like san francisco the home of the technology industry and one of the biggest economies in the world for a similar price is like some like just okay house in like a random nice neighborhood of Dallas.

2:53:08Like what's going to be worth more in like 10 years, right? Especially as SF's local governance stuff gets figured out. And so anyways, like I think buying anything in that area, you're probably going to do pretty well. Yeah. I mean, that's why it was important for us to promote that post about the$150 million home that hopefully one of our listeners will take home because there's only so many of those. Sawyer Merritt says, SpaceX president and COO Gwen shot well on the company having 22 billion dollars in government contracts we earned that we bid it we were the lowest price best bidder we won and we execute it's not a bad thing to serve the united states government with great capability and products what a badass quote just like throwing down the gauntlet i love it yeah that's a quote that could go on the uh on the wall fantastic potential brother of the week here yeah she's fantastic but put that one aside yeah we gotta I put this one aside.

2:54:05That's going on the short list. Yeah, I did a whole video on Gwen Shotwell and her career. It was one of my first viral videos on YouTube because everyone's talking about Elon and no one really knew the story of Gwen Shotwell, but she's been super critical, took a whole ton of career risk going in super early and has just driven that company and just executed, executed, executed. And just fantastic public speaker, fantastic counterweight to elon's you know experimental mindset and like you know dreaming big she's the one that can actually go and drive good example of you know if you're somebody who's interested in deep tech but you're more of a business mind uh you can go have impact in these industries go to look up our portfolios any number of those companies needs financial and operations innovators to drive these companies forward and on that note i can't help myself i want to do one more promoted post from carl yang who's building financial products at ramp okay he says he caught up with a friend and that friend said i'm supposed to be making strategic decisions and turning around companies with my superior insights since a guy with an hbs hat with his mouth open and the partner at the firm is saying fix the effing ap process question mark or exclamation point exclamation point and uh yeah a lot of like you know pe is just going in and uh you're not going to create a tremendous amount of value by getting rid of the fax machines and the and the sort of like um you know taking uh payments and checks and stuff like that but you can have a pretty big impact and ramp is a fantastic way to do that i understand that they are uh fairly dominant with a lot of the larger PE firms for good reason.

2:55:51Yeah, they bring it in. So just built into their process now. It's very sharp. Thank you to Carl for innovating in one of the most important sectors of our economy. And happy to promote Ramp at any time. Tell them the Technology Brothers sent you if you're on board. AJA Cortez says, my father went back to college when he was 40, graduated medical school at 47 and has been now a doctor going on 20 years. I didn't realize it at the time, but it made a deep impression that a man can reinvent himself at any time. Age is a non-factor. And that with consistency, effort, discipline, you can do whatever you want.

2:56:30I had no idea people considered age to be a factor at all in a man slowing down until I was in my 20s. I was never raised to think that way. That's a fantastic post. That's very, very inspiring. And that's true. Yeah. I mean, we see this with entrepreneurs too. going into work and you feel like your work is at the kms building um or if you if you ever feel if you ever feel like you need to have a blanket on at work because you're so miserable yep and you feel sick get out of there reinvent yourself um i think this honestly like what what's funny is do you remember being in college and like the oldest guy in the room was always like in the military yeah like graduated yeah and it's very normalized to like go in the military do that for 10 years come out and then just like have a totally new career right it's not like you're like oh i only know how to shoot a gun i'm just gonna do this just not if you only do if you only do the things that you know how to do you'll be sweeping floors your whole life right so um go reinvent yourself make like big you know big uh moves into different industries and there's so many great stories you've seen that dude who's who was a uh navy seal then a doctor at harvard and then a astronaut yeah and it's just like he's an asian dude and the meme is like he must have like the the only the only asian dude with like parents who are proud of him or something yeah he did the thing and like satisfied all of their expectations i love that it's so good but yeah just crush and uh go just crush yeah you can just do things you can just do things oh this is a great one from ben miles he asks us uh do we have any favorite deal toys this one is cool from ginkgo Bioworks.

2:58:09And I actually met the Ginkgo Bioworks guys back in like 2013 in an office in Boston. And you invested, right? I did not. I had no money to my name. So it was miserable, but I have an interesting fundraising story. If I could go back in time, my investment strategy would just be to like give John Coogan a hundred million dollars in 2012. Well, Senra calls me the Forrest Gump of tech because I've been like, oh yeah, I was in the same YC batch as Coinbase. So yeah, I was like hanging out with the Ginkgo Bioworks guys at this one time. Oh yeah, I was like, met this dude at a random time. And it's just like all these like sliding doors moments in Silicon Valley.

2:58:46But Ginkgo Bioworks, it was fascinating. I met with the founding team. We were thinking about working with them. And we'd raised something like a million bucks or a million and a half for Soylent. And they were like, okay, like you're the first company. We were a YC company. You're the first company that's in like bio or food or anything that's not software that's being taken seriously by VCs. Like what, and the founder literally told me is what we'd really love for you to do is go and raise a massive like$20 million round because that would just like be a massive signal to the market that like this is an investable category.

2:59:20And I was like, ah, that's funny. Like we'll never do that. And then like six months later, we raised a$20 million round. And then immediately after Ginkgo started raising really big rounds too. There you go. And their business is ripping. and then they went public and now you know the CTO of Palantir is actually on their board, Shamsankar. And it's just a very interesting company. If you don't know what they do, they manufacture things for fragrances, but they do a lot of like chemical and bioengineering. It's a very cool lab. Even when I saw it in 2013, they had all these robots moving around like pipetting things.

2:59:51Not a robotics company, but... Not a robotics company, but they were leveraging robotics and automation and they built a bunch of software to automate testing. So, you know, you need to test like 10, you know, 10 different titrations of one chemical by 10 different titrations of a different chemical. You mix that creates 100 different variations. You can just have a PhD student just sitting there doing it. That sucks. That's what they do in every lab in America, like all the universities, even Caltech. But they just automated all that. So they were able to iterate through all these experiments like much faster.

3:00:21And I think they wound up creating a bunch of like basically industrial chemicals that they could go and sell. but I actually like this starting point as an inspiration for some of our own deal toys yeah of like imagine a microphone yeah in glass well I mean if you if you're not familiar every week we do the brother of the week we award someone who exemplifies what it means to be a technology brother a student of capitalism a capital allocator etc and at the end of the year we'll be sending out deal toys to commemorate each brother of the week and so we want to do something that captures the fact that not only are they a student of capitalism, but they're also a great poster.

3:00:57Yep. Because you can't win. You got to do both. As we saw with Mark Cuban, he was Brother of the Week, but he left X. He's no longer a poster, so he had to rescind the award. Yeah. So he won't be getting a deal toy. But send in your thoughts. Let us know what do you think our Brother of the Week deal toy should look like. I'm thinking something with an X in there, something with some dollar signs, something to represent technology, capital, brotherhood. Thank you to Ben for servicing this to us. Yeah, thanks, Ben. Send us your best ideas. Feel free to get on ChatGPT, Dolly, and create some AI art for us to inspire us.

3:01:42Morgan Housel says, despite, it's a quote, he says, despite its success, Wong remains acutely aware that NVIDIA's leadership position could prove fleeting, which may explain his relentless work ethic. I do everything I can not to go. I do everything I can not to go out of business. It's from an interview in Fortune with Jensen Wong, the founder and CEO of NVIDIA. I love it. I love a relentless work ethic. Unclear how risky he is. And it seems like his leadership position's in a pretty strong place. I mean, they have massive pricing power mentality but maybe i'm wrong gets you delisted there's a lot of startups that are going after this doing you know specific chip designs for ai for llms yeah it's like maybe there's a risk who knows obviously there's incredible ip but we we know it's a thin wrapper around tsmc yeah um and so the reason that uh nvidia uh you know is successful today is because of that mentality across decades at this point.

3:02:44Yeah. I also just think like, yeah, I mean, obviously there's like a talent war in everything AI right now and NVIDIA is no different. There's a lot of people that made a ton of money working for NVIDIA during the latest stock run-up. You got to retain them. So you got to go and proselytize your culture and then you got to bring in new people. So you need to talk about, you know, how your company is different from the rest. Like this isn't just - But here's the challenge with NVIDIA, right? They've grown so quickly that the average employee is like a multi-multi-multi-millionaire. And it's like, we've seen this before.

3:03:16We've had people on the podcast that talk about, oh, I have$10 million of assets. I worry that the dog in me died, right? And so Jensen needs to be out there pounding the table, being like, we need to keep feeding the dog within us. Yep. Keep that dog alive. Otherwise, somebody is going to come eat our lunch. I think he needs to be flexing on the employees a little bit more. He's not a watch guy, but if he was, then, oh, that product manager who's making a million dollars a month now, well, good luck getting this, you know. He needs an RM, like, smiley 2.2 to 3 million dollars. Yeah, you see this guy driving a McLaren F1 to work.

3:03:56It's like, that's kind of out of the price range of that rich product manager. So, you know, that's going to get the product manager to work a little bit harder. Get to the next level. Get to that Senti. Get to that BNR. status. Show the employee who's worth 10 that they would be happier if they got to 100. That's the goal. Nicole Wiskoff, speaking of cars, fantastic capital allocator, fantastic car appreciator, but throwing a little shade on Aston Martin here. She says, I saw the first Aston Martin SUV, the DBX, on the road a few years ago. I thought it was the most incredible car. Was able to take it out for a drive yesterday.

3:04:33I felt like I went back in time 20 years. I can't believe I'm saying this, but it didn't even hold a candle to the Tesla and it's 200 K more expensive. Okay. So first mistake, disrespecting a legacy brand. Yeah, that hurts. Aston Martin's a fantastic manufacturer. So here's the thing with Aston. You don't drive an Aston for the interior electronics yeah that's for sure that said uh they they do have new ownership as of the last couple years i believe lawrence stroll yep father of lance stroll who's an f1 recently took the brand over and the newest generation of cars that's just hitting the street just hitting dealerships has had really big upgrades uh to the interior so um but yeah you're you're driving it for the lines, for the leather, for the heritage, for the significance.

3:05:25And here's my only thing with Aston.

3:05:30We've talked about needing to make sure that your next car is about the value of 1 % of your AUM. Exactly. She has 50 million. Yeah, yeah. She should be budgeting 500K. The problem with the DBX, it's a 300K car. Yeah. So she's 200K shy of where she should be. So the reason she's probably frustrated with the quality is because she should be going after maybe a Cullinan or I would even stay within the Aston the Aston ecosystem you know if she no if she if she can raise another hundred million she's in she's in you know Valkyrie territory yeah she could get a Lagonda Turoff have you seen that car yep from their premium line you could even go back and get a Bulldog have you seen the Bulldog that's a fantastic car it's a retro it looks weird yeah and for any other for any other sort of emerging GPs that that you know maybe can't fit a new Aston within the 1 % market of AUM.

3:06:20The great thing about Aston's is they lose like half their value in the first year. So if a DBX at 300K is too much, wait a year. You can buy the same car with 2 ,000 miles for about 150K. That's true. So that's one of the beauties of the Aston brand is everything's half off after a year. Yeah, it's fantastic. Well, good luck to you, Nicole. Make sure you get a really nice car. uh yano says the most mispriced idea in markets today crypto founders can finally build the products they want to build where they want to build them we are truly entering the golden age for crypto products couldn't agree more we see this with polymarket and a huge catalyst of that is the bridge acquisition yeah it wasn't i think until there hasn't is that the only or one of a handful of like billion dollar crypto m &a that wasn't a token you know it wasn't like somebody launching a token it was a little bit more of a classic you know product acquisition little like almost a b2b sas company you can model it that way and so yeah but there's also like to a strategic acquirer yeah you need to live off in like crypto bizarre land international whatever it's like yeah and we could make a san francisco company we could make a you know a platform like polymarket yep to to sell our ad inventory right sort of a liquid market where i want to know the second before I read a promoted post that it's the highest dollar amount that we could possibly capture for that ad unit, right?

3:07:46More programmatic. So a bunch of cool things coming down the pipeline. I think that, I think next YC batch, I'm sure we'll see a lot of crypto company RF requests for startups. RFS, yeah. Yeah. Yeah, that'd be great. Connor McDonald, been on the show before, but we need to give him a follow. The core benefit of AI is to - You need to give us a follow. No, no, no. No, this is, we need to follow him. So if you see the follow icon, that means it's their first time on the show. Once you're on the show, we'll give you a follow. And then we'll know the next time that you're a repeat guest. So Connor says, the core benefit of AI is to systematize and automate day-to-day responsibilities and leave more time to podcast and write newsletters.

3:08:33Let's fucking go. I couldn't agree more. yeah 99 of my life is now automated with ai and i can spend eight 12 hours a day podcasting and we do and we do and this is the future and i hope yeah and i think and i think that um you know a lot of this episode the early part of this episode was talking about you know zempick and the trends there and one of the really positive externalities with with people being on zempick doing less degenerate sports betting and you know spending money on doritos they can they'll have they'll have more uh money they'll probably have more cards in their wallet and so i think ridge will be a big beneficiary of that because people just maybe people might have so much cash on them yeah that they might need multiple wallets uh that the ridge wallet has a nice um uh sort of like money clip uh attached to it so um look to see ridge uh ridges market cap do a nice multiple It's fantastic.

3:09:29Let's go to Daniel. He says, VCs are the real founders. Couldn't agree more. Couldn't agree more. Jeremy Giffon has a hot take that investors are more interesting than founders. Have you heard this? No. It's a good one. It's interesting. He's an alligator. He's an investor, so he's talking his own book. But his idea is that a lot of the really, really successful investors are looking across markets. It's like the fox and the hedgehog thing where the founder knows one really big idea and is grinding at it, building a company in that one narrow space. Whereas the investor can actually broaden out and become a generalist and look at capital markets, public markets, private markets, and really understand everything.

3:10:09Yeah. Founders have a more deeper understanding of, they're like generalists within their business or within their industry maybe, but it's still like a very, like Jeremy's like takes per minute or it is like very high. And that's really what we look for. But anyways, you know, the way that Daniel's progressing, he'll have like a$500 million solo GP fund within the next 10 years without a doubt. So I think he's just sort of like setting himself up for success. I think so. Another huge talent move. Francois Cholet is out at Google entering free agency. He's going to start a new company. One of the GOAT programmers at Google put up a massive couple years there on the team, built a product called Keras, was deeply involved in machine learning, and also had a great appearance, star appearance, great performance on the Dwarakash Patel podcast, and is also involved in a very interesting AI benchmark that no LLM has been able to defeat yet.

3:11:17And so he's been working with that, with Wade over at Zapier, and just clearly a very thoughtful person on AI. Throughout all the boom and all the craziness, he's always been very locked in and understanding where the hype is, where the limitations are. He's not a doomer. He's not a complete optimist. Always nuanced. and he never really gets in fights, I see, but he's always bringing really good critiques, still optimistic, still loves the technology, obviously building on it. So great to see that he's out starting a new company with a friend. I wonder who it is. We'll certainly cover it here.

3:11:59And I have a feeling we're going to be ringing the size gong when this guy raises. For this guy, absolutely. I mean, this is a big move. This is an all-time, all-lead player. you know when this when this when this post went up two things happened one i happened at bloomberg open big red candle on the on alphabet stock yeah it was really rough to see recovered but not not completely and then two vcs around the country called up their uh the phones were ringing off the hook you know even net jets was was getting you know more calls than usual but a lot of gulf stream sort of like took off in unison and sort of descended, hoping to get some face time with him because a big round is coming.

3:12:42Yeah. I mean, let's just review his career for a little bit. I mean, he built Keros, powers ML solutions, the countless companies touch. It powers your recommendations on YouTube, Netflix, Spotify, the fraud filtering of your credit card transactions, Waymo cars that drive you around San Francisco. This guy's a beast, one of the greatest to ever do it. And We're excited to see where you take it next. Let's go to Zach. He says, update, I hit$1 million in MRR, still not sleeping in. And he says, he's quote tweeting himself from almost 10 months ago, been losing sleep to the grind, purely running on the urge to be financially free.

3:13:21After I hit 100K MRR in high school, then I'll start sleeping in. What a beast. He's still in high school? I don't know. Maybe he is, yeah. I mean, it sounds like he's still in high school. Animal. Future, just getting started, I'm sure. Just getting started. Future brother of the week, potentially. We love the attitude. Future first round draft pick, potentially by the Holy Trinity VC firms. I could see big dollars going into this. Absolutely. Big contract sign. Yeah, it's really about the attitude. Yeah. Yeah. And if you're not sleep deprived right now, just understand that money doesn't sleep either.

3:14:01Yeah, that's true. Yeah. Let's go to Eigenrobot. He says, he's quote tweeting, the ball is orange, who says, a lot of lives would be incredibly different if this existed. And it's the United States high-speed rail system. And he says, no, they wouldn't. People would still take the plane or drive. Your lives suck primarily because of the circumstances of your births and the choices you have made in this life. A redundant passenger train system would not meaningfully affect the magnitude of your suffering. I couldn't agree more. I thank God every single day that America industrialized largely after the invention of the automobile so that we don't need a bunch of slow, inflexible trains cluttering up our country.

3:14:45It's meaningless. And to all the train people out there, stop coping. We have planes and cars and they go everywhere and we don't need trains. And in fact, America does have a fantastic rail system. We just use it for freight because America is a lot bigger than France to Germany. France to Germany is like the equivalent of Boston to New York. And you know what? We do have high-speed rail between Boston and New York. It's the Acela. It actually works pretty well. Go right on that. But no one wants to ride from Chicago to LA on a train. Even if you're going 200 miles an hour, that's like a 14-hour, 18-hour.

3:15:22Yeah, my little brother actually loves the train because he's a train guy. I like to just like take in the view and relax. But I always laugh because I'm like, you're paying more. Yep. You're sitting in an uncomfortable seat. You're spending the night in this little tube and you could have spent, you know,$200 less and gotten there in four hours. Your time's worth a lot more. I actually do have one nice thing to say about trains. Fantastic for monk mode. When I was living in Sunnyvale doing YC and I was dead broke, I had to go from Pasadena to Sunnyvale. And I went by train and it took me all day, like 6 a.m.

3:16:01I walk to a local Metro rail station, take that to downtown. Then downtown, I get a bus transfer out to Bakersfield. Then a train through the Central Valley, which was actually beautiful and fantastic. And I was able to sit there, no Wi-Fi, nothing. I was able just to read this book on actually language models. It was very, very weird, but it was about natural language processing, which was kind of like the precursor AI system. fascinating like the the algorithms are like human intelligible essentially still it's not just like crazy tensors and stuff like you can just understand intellectually how it works and then another bus when you get to you know oakland essentially to the cal train and then walk from the cal train to sunnyvale took forever but the monk mode was fantastic and being able to get on a train and just watch the countryside go by and actually see how beautiful america is and how much space we have to build is very, very inspiring.

3:16:56So trains, we like to hate, but somewhat underrated. Let's go to Dylan Field, founder of Figma. He says, this week, all eyes should be on Trump's pick for treasury secretary. This appointment is a preview of what we will see over the next four years on topics spanning global tariffs, tax policy, the price of Bitcoin, China, and more. Of course, there's a lot of drama, and he writes a thread. I love that he's weighing in on this. This is so great. Like, you know, there is a world where Dylan is just talking about design. We need, I really only want to see threads from people that are post-economic, right?

3:17:30So if you're not a BNR, don't write threads. I agree. If you are BNR, write more threads. Yeah. X should actually have a functionality for that where it links with your bank account, proof of funds, and I can say, or your Carta, or your Carta. Yeah, yeah, yeah, yeah yeah your paper wealth as well and then i can just i can just say hey today x i only want to see content from centis yeah throw some beaners in there but don't give me any that should be a separate feed any cuban would come back single digit millionaires i'm not interested yeah cuban might even come back he might he might it would be a big boost to him yeah you know elon kind of has the boost where all of his posts kind of get promoted no one really knows exactly if it's hard coded or not or he's just posting bangers but we need that for for all centis and billionaires yeah Yeah, for sure.

3:18:17So shout out to Dylan. I'm excited. I'm going to keep an eye on it. I don't know. Has the Treasury Secretary been teased or leaked or announced yet? I mean, there's a couple people that are out. That are in the running. But we don't talk about politics here, so we're not going to cover it. That's the show. But that's the show. I think we should ring the size gong one last time just to commemorate the end of the show. Thanks for watching. Subscribe. Give us five stars. Repost everything. Send our clips to your friends. create a uh tb clips yes uh channels on instagram and all those other things and get get to a million of mrr yes we'll feature you on the show thank you and send us your ideas for deal toys that's it