Starlink + Tesla? $4T Nvidia? Perplexity Browser? Linda Yaccarino Steps Down? | E2149

27:02Okay. The reservation process is complete up to the payment step. And you can finalize by entering your payment details on United's website. Gives me a one and a two. And I could just click that and boom, it opens up the browser window. And it was doing that in the back round. That's awesome. Which is pretty crazy. And I guess it has related here. I can add lounge access for the business class flight. And what it does is, you'll see here when it does this, it goes to the United and it says, find and add United Club access. See that little window there? That's the page. And you can see it steps and you see it moving around on the page doing stuff.

27:43So that's almost like a browser container, if you will, Jason, that's doing things, and you have a keyhole vision into it. Yeah, it's like I'm watching it do the work. So here you can see it's revision panels open. Let me click change flight selection. I see we're now on the flight search page. Perfect. I can now see the flight search results. I can see flight UA 435 departing at 920 AM and the price, and it's just reasoning, and it's doing it. But now this is what I've always wanted. This is what I want ChatGPT, Grok, and everybody to do. And so I think that this concept is going to be the winning concept.

28:21You were playing with Dia and doing some ideas by the browser company. Dia is by the browser company. And what struck me looking at Common and looking at Dia this morning, Jason, is that they share in some ways a bit of UI. So what I have coming up here on screen is a screenshot we put together. this on the right is Dia, and then on the left, this is a screen capture from the Perplexity Comet video. But what you'll notice on both of these, and we'll tidy it up and post this a little bit clearer, is that they had these right rails, these assistants. And so what they've done is introduced a brand new UI element into the browsing experience that takes up a good chunk of your screen.

29:02But it can do quite a lot, as you just showed, but you don't always have to be exactly on the Perplexity website to do stuff. you can actually interact with your browser inside of Comet just from the right rail. And I thought I'd show you an example of how this works in Dia's case. So what I have here, and I'll just pull this up, is the Dia browser. And what I have over here, Jason, is my right rail. And you can ask it questions. Now, the difference between Comet and Dia is that Dia is not agentic. So it can't go into this CNBC website, for example, and click around for me. but what it can do is see it and reason.

29:40So I can ask it like, what's the most important headline on this page? And it's gonna think for a little bit using its own LLM and then say, okay, the most important thing is it thinks Linda Iaccarino stepping down, which is interesting because earlier it said that the most important story was actually NVIDIA's$4 trillion market cap moment. But this is what it looks like. It's slick, it's quick, it's pretty good. But I do feel like what Comet has put together goes a little bit further, frankly. The vibe coding revolution is here. The days of needing a giant team of developers to build your mobile app, those are over.

30:16With Bolt.new, anyone can build web applications quickly and without knowing how to code. You just need to speak English. And I think, hey, if you're hearing my voice right now, you just might be able to speak English. Getting started is as easy as visiting Bolt.new and just telling their AI-powered system what you want to start building in plain, simple language. You can use Bolt.new to design a stunning new landing page for your company. You could upgrade your CRM. You could build a consumer-facing mobile app and more. In fact, one of our launch founders, one of my favorite, Craig Zingerlein, he used Bolt to create a surprisingly powerful email marketing analytics tool, Lifecycle Lift.

30:51By entering a few key metrics, his system projects a newsletter's revenue potential. Your competitors are already using cutting-edge tools to ship their products faster than ever. So don't be left behind. Try bolt.new slash twist to try it for free. That's bolt.new slash twist and show me what you built. Yeah, absolutely. And yeah, this is really interesting, this concept of the sidebar. And so I just did a really interesting thing. I went to the Drudge Report and let me show you this working. This is kind of interesting. Let me see if you can see this. I said, please open the top 20 links on this page and summarize them.

31:33And it's going up and down the Drudge Report, opening each page, CNBC page, you know, going to each page, summarizing the page, going back and then loading the next page. That's really interesting. If you think about as a concept, if you were on, see, we just went back to Drudge Report. Yeah. Yeah. And then it's going, now it's back to the CNBC story about Linda Iaccarino. So you could go to an aggregator like Drudge or Tech Meme. You can go to the New York Times. I could go to the New York Times and say, summarize, do a search for Nix and summarize every Nix story in the history of the New York Times.

32:13And I don't think the New York Times would understand this as a bot because I'm logged in and it, you know, is my browser. It's not like a screen scraper, But this is what is happening, by the way, when you work at a large language model company, they are going and figuring out all kinds of bots to do this kind of stuff in real time and how to get past paywalls, et cetera. So that's really fascinating. And by the way, still doing it. And if all of this – I wonder if all of this is then put into like a central repository for me for all time. Those are the kind of features that I really want. And this gets pretty expensive.

32:55There's a reason why this is$200 a month. What I just did is probably going to cost them actual money, especially if they're saving all this data into a large language model in a context window somewhere. I'm not sure what happens with all this information, but I could see this becoming a very interesting product. Oh, yeah, for sure. By the way, just because I was curious how Dia would handle a similar task, I pulled out the New York Times and I just summarized the top five stories for me and instantly just took care of it. So I really do think we're bringing AI more and more into our actual workspaces, which is great because no one wants it to be just in Slack, following you around, telling you to do your to-dos.

33:38That's just having another parent, which I don't think anyone really wants. Last company in this list, though, Island. I've talked to them on the show. Island's building an enterprise secure browser. A pretty different approach to this, but just goes to show that there's a lot of companies right now experimenting in the browser space. And we're all waiting to see if the rumors and reports about OpenAI doing their own browser are true, probably in some capacity. But it may end up like the Apple car just stuck on someone's computer somewhere and never making it out to the world. Yeah, let's keep going.

34:09All right. One thing that I'm pretty excited about is Waymo and Tesla are expanding their geographic footprints. Now, we've talked about the robo-taxi launch from Tesla quite a lot. As everyone recalls, it was in a geofenced area inside of Austin, invited a lot of Tesla influencers and fans. People were taking dozens and dozens of rides, mostly pretty good reviews, a couple of things we saw on social media. But people are now reporting that are watching Tesla's fleets in and around the Austin area that they are doing LIDAR mapping and prep to expand the geofence, possibly including the downtown Austin area.

34:44So to me, Jason, from just where I sit, that's pretty quick and I think implies confidence in progress thus far and implies that, at least in the Texas area, Tesla's robo-taxis are going to become an actual competitor to not just Waymo but also Uber fast. Ways to go is what I would say. I have the—and slow and steady wins the race would be the other thing I would say. I have hardware four, which I believe is what's on the robo-taxis. That's what Ilana said. It's the same software stack. It's the same hardware. I would think the software is a little bit tweaked, but let's just assume it is as he's explained it.

35:25I think there's enough interventions that they need that safety driver. I think putting the safety driver in the passenger seat versus the driver's seat is performative. It doesn't really matter. I get why they're doing it. I think they should just put the safety driver in for one year in every city. That should become the new standard. and then after 10 ,000 rides, 1 million miles with safety drivers without an instance or without a major instance, whatever we want to benchmark it, then anybody, whether it's Volkswagen, Zoox, Waymo, everybody should just have the same standard, X number of rides, X number of miles per city.

36:05Because I can tell you, I've been using hardware four for a while now. I'll have a perfect trip. And then there'll be construction. There'll be some weird unknown. And so when I ride on the 290, as an example, or on 290, we don't put the the in Austin. So like in Los Angeles, you say the 405, the 10 freeway. Here, you just say, I took one to 290. And you have to stop. You don't say the one to the 290. You have to just say 290, one, or else they know you're from out of town. Anyway, nobody's really on the high-speed roads yet, I think for a reason. Mistakes at low speed are manageable. So when we saw, you know, there were maybe a dozen instances where people thought that Teslas could have done better.

36:52One or two of them were a little bit severe, like there was a little touchy-touchy of down an alleyway, but it was at low speed where like the Tesla bumped in its tire, touched another car. Okay, that's car-on-car contact. but it was at like zero miles per hour, like one mile per hour. So while people will be like, oh, that's not good, it's not like, oh, somebody got hurt or there was property damage. Yes. And then just today when we're having breakfast over here on South Congress, there was the Volkswagen cars running everywhere, the ID Buzz. So that's going to have a safety driver in it. I do think these are going to expand slowly.

37:36and they are going to greatly expand the number of ride-sharing rides. I've said this over and over again. This really isn't like humans versus automated cars. I think this is car ownership versus going full Uber, full ride share. And all of these are going to really help. Some people don't want to be in a Waymo. Some people only want to be in a Waymo. Tipping is really nice to not have to tip. Not having to talk to somebody is really nice for some people. Other people really want to have somebody there they can talk to or who can help them with their bag. So it's going to be a slow, steady rollout.

38:17Be careful out there, folks. No shame in the safety driver game. No, not at all. And on the people who really want to take a robotaxi or not point, Jason, we're seeing, I think, pretty good cultural shift towards taking them. Waymo just announced it's going to roll out. teen accounts in the Phoenix metro area. So if you have a child between 14 and 17, underneath the 18 kind of theoretical threshold for ridership, now parents can have teen accounts and send their kids out and about, which is incredible. Wait, teen accounts for which one? For which service? Waymo. Waymo's going to have teen accounts.

38:52Okay. Yeah. Because I was about to say Uber has teen accounts already. Did I say Uber? No, I wasn't sure. Oh, sorry. No, No, I made this book Waymo. Waymo is going to have teen accounts in the areas where they're not going through. It's so confusing. Where they're not going through Uber's app, which they're doing in Atlanta and in Austin. So I guess - Yes, because this is Phoenix. Yeah. Okay. Well, but this is what you want because if you have kids, the reason they have teen accounts is I think Uber's teen accounts records the rides. I don't know if you've gotten into cars where it says recording the audio for safety of the participants.

39:35That when I was in Grab, I think everything was recorded and they give you a note, you're being recorded. So back to everything's recorded. Be careful out there. Do not assume that you're – I would assume if you're in a Waymo or any robo-taxi, you're being recorded. And if you're being recorded, that means it could be transcribed. If it's transcribed, that means it could be abused. As we saw with God Mode and Uber in the early days, people were like, oh, this could be abused. And you could actually watch people you know in the San Francisco launch. There was like, oh, can I see this journalist and where they're going?

40:11And are they going on a booty call at 2 a.m.? Or did they stay out in the club till 4 a.m.? In God Mode, you would see the passengers and they had to abstract and take away the names of people and put hashes in. All that stuff can get abused. It's easy enough to fix, but in any system, I can tell you there will be bad actors who will abuse the system. All right. Anything else major in the news or maybe we'll talk to our guest? Well, let's do something briefly before we talk to our guest. I just want to point out that we have discussed private stock trades quite a lot on the show in the last couple of months.

40:47There was a service called Link2, L-I-N-Q-T-O. It just filed for bankruptcy protection, and it's under SEC investigation. And there's quite a lot of controversy about did the people who tried to use it to purchase shares actually get them? Maybe not. There's a lot of stuff going through this. There's court filings. It's a lot of details, but essentially 13 ,000 people used the platform. They bought about a half billion dollars worth of stock at fair market value. And now they're trying to sort out who owns what, what the actual assets are. And so caveat impter, I think, is the gist here. We've talked a lot about secondaries.

41:23They're important. Just if you're going to take part in this, understand what you're buying. Go into the details. For example, the tokenized offerings from Robinhood are super cool and a really interesting innovation, but they are not a traditional equity purchase. Just keep that in mind, folks. Just be safe out there while we're talking about this. So, you know, when you have the SPV space specifically and people selling shares in private companies through special purpose vehicles, thank you, special purpose vehicles and these kind of things, you might be with a fly-by-night person who says they have access to SpaceX shares or to open AI shares and they don't.

42:07And they don't actually own them. And you bought into it. How do you know? You would have to then have the company tell you, well, these companies have hundreds of millions of shares, billions of shares. They may not be tracking all this SPV activity. And so this is why the public markets are so regulated, because you don't want people to be swindled out of their money. If you do partake in the secondary markets and these things, you have to do with a reputable person who has something to lose. I have no idea who LinkQ is. I have never heard of Link 2, and I don't know what happened here. But if you haven't heard of the site—now, if you talk about Robinhood as a 90—whatever it is, a$50 billion,$100 billion company with, I don't know how many tens of billions of dollars under management, whatever it is—you can be sure that they went through the highest legal review and have a lot of insurance and executives and a board that will all be liable.

43:14Now, does that mean an Enron can't happen? That's another company that was public. And I'm saying Robinhood's Enron, but we have seen companies like Enron, people could be doing totally shady stuff inside of a publicly traded company. It can happen. It's incredibly rare. In private companies, it's not incredibly rare. It's incredibly common. So understand, like, there are two very different things at work here. I mean, the number of times we found accounting fraud at a public company, they're so notable because usually there's somebody like PricewaterhouseCoopers, Ernst & Young, KPMG, there's some accounting firm that was responsible.

43:52And you have to ask, well, what happened? Where did the breakdown occur? And you can trick your auditors too. That is completely possible. Or you could have a bad actor at your auditors. That has happened as well. WorldCom, where people can just make really weird marginal decisions about recognizing revenue. Private companies is the Wild West. You have to be extremely careful. Only invest what you can afford to lose. And yeah, be careful. Now, explain to me what's happening with these tokens you're buying on Robinhood, because I am not up on it. So how does it work? So Robinhood made a big announcement that they are going to tokenize U.S.

44:31equities and U.S. ETFs, essentially put them on the blockchain tokenization, and offer them to European investors. So if you're in Europe and you didn't have access to the U.S. stock market and wanted to have exposure, you can purchase these tokens. Now, according to Robinhood, these stock tokens are, quote, financial derivative contracts between you and Robinhood referencing certain stocks. Now, that is the language from the OpenAI stock that they were using as a promotional material, but the mechanism is the same. You are essentially buying exposure to an asset with Robinhood as the intermediary.

45:08Some people call it, Jason, are kind of likening these to equity swaps, if you will. That's a lot of back-end abstraction, but you're not always buying the core asset. Yeah. So if you're buying OpenAI tokens, those tokens are backed by some OpenAI equity somewhere, or they're just a way to play the valuation of OpenAI, I guess. And if you sell them, you sell your shares in OpenAI? Who's on the other side of that trade? I mean, that's what I'm trying to figure out. Yeah. So here's how Vlad explained it after OpenAI was like, hey, you can't give away equity in us. You don't have equity in us. What are you talking about?

45:50So Vlad said, at our recent crypto event, we announced a limited stock token giveaway. While it is true that these are not technically, quote, equity, what they do is give retail investors exposure to these private assets. And so I think the way this works is Vlad, Robinhood, got some allocation of equity in these two companies, probably via an SPV. but you can't probably take an individual share from that and give it to somebody, especially these small increments. So I think they're holding the equity. They're offering essentially people a$5 to$10 token coupon for those two firms. And then if the underlying assets appreciate, that'll be reflected in the token price.

46:32It's complicated because they're not public and we're trying so hard to make private companies, public companies. So I was going to drag people through a lot of stuff about secondary interest and why this is happening now. But, Jason, do we need a third category? Because I feel like startups and public companies are now not enough. There's not enough nuance to those two categories to have people happy. Yeah. I mean, consumers want to trade in private companies because they're smart. And these companies stay private a long time and they're well aware of them. They don't have access to them. A way to do it that would be interesting perhaps is to have these SPVs be sanctioned, and in some cases they are, and regulated a little bit.

47:20And maybe they have to prove they have the equities behind them. So, you know, it does seem like education, making sure the consumers understand what they're buying, and then having the companies be able to approve secondary sales for certain groups of people and say, hey, these 20 different platforms have access to these shares and they sell them quarterly. And so some way of buying into them. But when people own these shares and then they go public, like there's that public company, Destiny 100 or something, that has some SpaceX shares in it. And people are so desperate to have exposure to SpaceX that they'll buy that Destiny 100, which has, I don't know what small percentage, 10 or 20 % of the fund itself is SpaceX, but they're willing to pay.

48:0952%. Oh, is it 52 %? Well, maybe that's because - 52%, yeah. Yeah. It's probably because the value of SpaceX keeps going up. So it might've been like when it was a$100 billion company as opposed to a$400 billion company that would only have been 12.5 % of its total equity or something, or 15%. So anyway, yeah, it's challenging. But what it does show is I think consumers know a winner earlier than the companies go public. And so they want to get in on winners earlier and they don't have access to it. So the, what is it? Nature finds a way. Nature is finding a way. Life finds a way. Life finds a way to make this investment.

48:51People want to make this investment. They're going to figure out a way to get their hands on those shares. Yeah. NVIDIA went public, by the way. I just pulled it up at a valuation back in 1989 of about$1.5 billion. So there's a data point about how it used to be. Now, I think this is a great time to talk to our guest, Jason. Financial literacy is super-duper important, especially if we're getting into the exotics. But for folks out there who are just students, well, they should probably know how to work their finances in the day-to-day basis, checking accounts, savings accounts, how to invest, how to handle credit.

49:18And that's where Tim Ranzetta and the other folks at NextGen Personal Finance are hard at work, beavering away to bring comprehensive financial education to all students, hopefully by 2030 in the United States at the high school level. Tim, hey, how you doing? Hey, it's great to be here. Fascinating conversation you all were having earlier. Well, yeah, this is, I guess, you know, not unrelated, but maybe you could tell people what NGPF is. If you want to go see the website, it's ngpf.org, correct? Correct. And so what did you create? Why did you create it? How's it going? Yeah, it all started about 13 years ago.

49:57I volunteered to teach a course in personal finance at a high school in East Palo Alto called Eastside College Prep. And number one, look to see what was out there because I had committed to something I really wasn't ready for, which was 25 hours of curriculum taught to three sections of students. And so number one, I saw a gap just in terms of a course that I wanted to teach that I thought would engage young people. So clearly there was a need out there. Secondly, I just saw the engagement level of the students. Every student wanted to learn this. They were so excited about it. Guess what? They went home to talk to their parents, like teenagers going home to talk to parents.

50:37I was getting emails from parents saying, I want to start investing because my son, David, came home and was talking about it. I mean, that is hilarious because most of the time you ask your kids. How was school today? What happened at school today? And they're like, fine, nothing. To actually have the kids come home and say, this topic was so engaging. I want to talk to my parents about it. It's huge. Continue, please. Yeah. So that was, I taught for eight years in the summers and it was about three years into that experience. I said, enough is enough. I got tired of reading about how financially illiterate we are as a nation when I thought the solution was found in every public high school in America.

51:15And so that was kind of the genesis of starting NextGen personal finance. It's a nonprofit. We give everything away for free. So there is no revenue model. I want to get this into every high school in America. And the minute you put up a paywall, you're going to limit access. And I was fortunate as an entrepreneur to be able to fund our operation for the better part of a decade. But we started with lessons. We started with curriculum. We built out games. And then we quickly realized the reason this isn't being taught is nobody feels confident teaching the subject. We have to train teachers. And so 11 years later, we've trained almost 20 ,000 teachers who've spent over half a million hours learning about investing, learning about credit.

51:57And so what you discover is this course doesn't only impact the students. It doesn't only impact the parents. It impacts the teachers. I think that's some of the most gratifying feedback we get from teachers. I now understand my 403B plans. I understand how to invest. I understand how to manage my credit better. Okay. So we have the curriculum, we have the professional development. What we don't have is we don't have requirements. We don't have a guaranteed course in high school curriculum. And so at that point we set up, we had to set up a new organization because nonprofits can't lobby. So we went out and created this organization, NGPF Mission 2030 Fund.

52:36And I'm happy to say in the last four years, we've had 20 states pass laws that guarantee a high school student will take a course in personal finance. And you'll be happy to hear this. Texas was one of the latest earlier this year. And so this is going to surprise a lot of people to hear. There are 30 states, 29, soon to be 30 states that currently guarantee this course. That represents 76 % of high school students in America. So we can no longer say this isn't being taught in schools because it is. And now really the hard work begins. And so the fourth aspect of our business is really partnering with school districts and partnering with state partners to say, let us help you implement this new course.

53:19Because ultimately it's not about legislation, it's about implementation and making sure this is done well. So now that teachers have the materials and there is a push for this to be included at the high school level, do you have any notes on the impact it's having on students apart from the really lovely anecdotes. Are we seeing changes in credit card applications or people being a bit more conservative with savings and so forth? Because this is a topic very near and dear to my heart, Tim. Yeah, I think it's early days in terms of, well, let me talk about the research that has been done to date.

53:49And it basically shows higher credit scores. And so we had a consulting firm model it out and they estimated the lifetime value of this course is$100 ,000. And a lot of that comes from higher credit scores because you don't come out of the womb understanding how credit works. And so that's one of those things where if you make early mistakes, it's really hard to dig out of that hole. We also see better decisions about borrowing. So no more payday lending. They're finding lower cost ways to borrow if they need to borrow. We're seeing better decisions when it comes to financing college education, because that's, you know, coming out of high school, that's probably the biggest decision facing them is whether they're going to go to a four-year college, a two-year college, or go to trade schools, or what their path looks like.

54:37So there's research out there already that shows that it works. I think it's only going to get better. And the cool thing is we'll start to see it in national statistics, because when three quarters of kids are getting this, now granted, it's 30 % today, it's going to 76 % as these states implement over time. And so like you see stats already, right, that young people are starting to invest at younger ages. And now part of that is commission free trading. Part of this part of that is the platforms which make it really simple. And the cost of entry of investing has really gone down to a dollar in many instances.

55:13And so you're seeing more. But I just I feel a lot more confident they're going to be making better decisions about investing. And the great irony or paradox here is if we don't teach kids about finance and they make poor financial decisions, then they believe capitalism and capitalism plus democracy is some sort of rigged game that they don't get to participate in, that they are victims. And what happens? Mondami, whatever his name is in New York, and socialism sounds like a really good idea. Maybe the state, I should be a ward of the state and they'll take care of me and they'll do a better job because I was told I should spend 250K on my degree and then I'll get a 50K job.

55:59But mathematically, that makes no sense. And your course literally has in it paying for college, how to afford college and career and how to earn money. There seems like there were two or three generations that were sold a false bill of goods. Is there any way to save that generation in your mind to re-educate them? So you're talking about millennials. I think it's millennials and maybe right after them who literally went 100K, 200K into debt. Alex might be one of them. Oh no, nothing like that. Nothing like that. But people went into serious debt, the price of a college education ballooned and salary stayed the same or went up modestly and just didn't keep up.

56:46So what do you think happens to that lost generation there? Yeah, I think the hope is they transmit those lessons to the next generation. Okay. Because when you've gone through that. So we did, one of the states, California, the legislature passed a law last year. And the only way that happened was we were moving forward with a ballot initiative. And so we collected 890 ,000 signatures. And so at that point, it became obvious to the legislators that this was going to pass one way or the other. But we, as part of that process for the initiative, we did focus groups. And, you know, we sit behind the panel and you, you know, you have this trained facilitator asking people, adults, kind of about this issue.

57:30And basically the facilitator said, we'd never seen this before. 24 out of 24 people thought this was a good idea. And yet I will tell you the emotion that I felt, and this is to your point, Jason, was regret. It was regret and hope because several of them said we didn't get it, but certainly the next generation should. And so that was. Tim, do you need to have a second program that is education for people 28 to 40 to grab Jason's timeline there just to offer them the same? Is there a way to reach out to people that are not just high school students? Because I think what you're doing is super critical and amazing.

58:13But also, I don't want to let those other people just suffer and die with 30 % APRs. I think what we're seeing is a couple different things. Well, number one, I'm all about focus. We've got to keep our eye on the ball. Yes, yes. The good news is our curriculum is used for adults too. And so we see a lot of nonprofit organizations working with exactly that cohort of people you're talking about. I think the other interesting phenomenon is you're starting to see companies offer this as a service because they look at the statistics and say, my young employees are worried about money all of the time, which means they're not thinking as much about the work that they're doing.

58:51So you're starting to see more companies kind of bring this in-house as a service to young people to say, hey, this is available to you. You didn't get this. We know you didn't get this in schools. Now we can let's give this to you now. Now, the key to the whole thing is I think people often think, oh, just send them to an online course. Right. And I think the magic having taught the class and having worked with, you know, there's one hundred and twenty thousand teachers who use our curriculum. the magic is what happens in the classroom. The magic is the conversation. The magic is the group projects that really stick with you when you're trying to figure out how to budget with roommates.

59:28Like that's a fun exercise, one you won't forget and one that's going to come into, that's going to be handy at a young age. So I think that's the one cautionary tale here is oftentimes people think, oh, I can just create a course. If I build it, they will come. I think it's a lot more effective when it's done with a teacher. The only thing I wonder about is gambling and wagering and poker and stuff like that. We got a poly market. You got people who are doing prediction markets. It's a little polarizing that, you know, teaching your kids to gamble at a young age. I like the idea of doing that because life's full of gambles.

1:00:05You might as well learn early on that this exists in the world so you don't get like suckered into it later, the casino, whatever. Um, where does like poker and polymarket and other things, you know, intelligent wagering or, um, and game theory, cause it's all kind of related. Yeah. Yeah. So actually we, um, we hear from a lot of teachers about what kids are talking about in the classroom and then we try and create curriculum around it. Gambling was something we heard, you know, 38 States now allow online sports gambling on, on the phone. And unfortunately, many times they don't know the age of the person on the other side.

1:00:44And so teachers were telling us, hey, this is a problem. We're hearing about kids running into issues. And so while I agree with you, we ought to teach responsible gambling. It's unfortunate, particularly for young minds, typically males, high percentage of them run into problems. And so let's kind of let's not pretend it's not there. Let's have a conversation about it. And so that was one of our most popular product launches. It's a mini unit. So if you go up to the curriculum, under curriculum, and go to the very bottom, mini units, you'll see gambling. Yeah. I was just trying to point out that you had stuff about cognitive biases and so forth already in there, but this is even better.

1:01:29Love it, Tim. Yeah, psychology is really important. That's our first unit. I saw that. We got to talk about, we have to talk about our own relationship to money because we all know the household we grew up in and the attitudes and mindsets that we're hearing about from our community, from our neighborhood, from our friends. Like that impacts the way we think about money. Let's make sure we kind of start the course using that as a way for teachers also to create the trust in the classroom that students feel comfortable talking about what they know and what they don't know. Yeah. And what's interesting is gambling has gotten so popular that many, I think I saw a survey somewhere.

1:02:09This was kind of 18 to 24 year olds. A quarter of them think of gambling as an investment. So they don't think of investing as a gamble. They think of gambling as an investment. Which I get it. They think they have an edge or something. Here's what I would tell a young person. If you really love doing sports betting, it's your passion, whatever. For every dollar you put into that, put a dollar into QQQ and just guarantee me you won't touch it for 20 years. That's it. Guarantee me you won't touch it for 20 years. Oh, my Lord, you will be delighted 20 years from now when you – by the way, I just wanted to tell you about this, Tim.

1:02:46There's a thing called Fire on Reddit. Alex will pull it up here. There's a subreddit. Financial independence, retire early. You know it. Perfect. Okay. Oh, it's huge movement. Yeah. Huge movement. And I just want to let all the folks who work for me, all the young folks who listen to the show, there is a group of people. It might only be 0.1 % of young people right now, but they're kind of the opposite of the socialist movement. And listen, I'm going to keep bringing up Mom Donnie because he's popular right now with a lot of young people for, I think, the wrong reasons. But I understand why. But just go look at the people in FIRE.

1:03:26Financial independence, retire early. They have agency over their lives, and they've defined what they want their life to look like 10, 20, 30 years from now. And they are in control of it. Coast fire, too. What is coast fire? They get to explain. When you want to basically— Okay. You want to retire at 60, but then you want to have enough money in your pool of money that you, at 60, can guarantee a 4 % return. Perfect. Okay. Yeah. So Coast Fire, thank you, Producer Sergio. I guess he's, are you doing this, Producer Sergio? Perfect. You're trying to. Okay, great. You work for me, so it's going to work out for you, I think.

1:04:05Coast Fire, like you get to a certain amount and then you can take 4%. Is that the number, Tim? 4 %? So when you hit 60 and you retire, I think the number now is 4%. Some people say five, if you want to be fat fire or whatever it is, you want to live large, that you can take from your principal, and then it theoretically gets replaced. And they've run, it's so amazing. They run simulations to look at the stock market. And in the worst possible year when the stock market crashed, like if you happen to retire in the crash, what would happen? And it always works out. It seems to always work out for the retiree.

1:04:43So just have agency, folks. You're not victims. You just haven't been enlightened yet to exactly how in control you are. Go to ngpf.org, NextGen Personal Finance, and support this. Do you guys take donations? Do you do stuff like that? Yeah, okay, great. Yeah, we do. So somewhere on the website. Yeah, we're fortunate. We've had some great supporters, including the Michael Jordan Foundation, Bill Gurley, actually, as well as some others in the venture community who, yeah, believe in our mission and kind of see the results that we've been able to achieve. Incredible, incredible. So everybody go there.

1:05:22If you got a little bit extra chatter, go ahead and donate. I'm going to go donate after I get off of here. And we'll talk to you soon, Tim. Thanks so much for coming on the show. Thanks for having me. Awesome, good times. Appreciate it. All right, I think that's enough show for today. Alex, we did our job. We spread a little bit of - We absolutely did. Yeah, we got the news out there. We got some good products for people and some inspiration there at the end. to go ahead and support what he's doing over there. It's really great work, yeah? Yeah, absolutely. My first actual job, Jason, was I was an intern at a consumer finance magazine aimed at youths.

1:05:53That was my first job. I was a video podcast intern. So I have a deep and abiding love for personal finance and helping people not have no money because it drives me nuts when they're broke. So big, big, big, big fan. Okay, and we will see you all next time on This Week in Startups. Bye-bye. Thank you.