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4:19
Possible hostile journalist on the horizon. Founder knows. >> Yeah.
4:32
>> [music] >> You're watching TVPN.
4:38
>> Today is Friday, August 14th, 2026.
4:38
We are live from the TVPN Ultra Dome, the Temple of Technology, the Fortress of Finance, the Capital of Capital. Oh.
4:50
We got >> That's our That's our resumee intern. >> Yeah. >> back to school.
4:55
>> Let me tell you about ramp. com really quick.
4:58
Time is money, save both.
4:58
He's used corporate cards, bill pay, accounting, and a whole lot more all in one place.
5:04
Uh >> [laughter] >> Um we got a we got to play the see you again goodbye like he passed away.
5:11
This is the This is the saying goodbye to our intern Ben Macklin.
5:20
I want Yeah, we need an AI video of me and Pim in uh sports cars driving along the Pacific Coast Highway and then we reach a fork in the road and he goes off to Canada and Jordy goes to Malibu or something.
5:33
But uh every time this song This song hits, it's a good one. It's a good one.
5:37
Anyway, uh we're very very very sad to good say goodbye to >> End of an era, but the story's not over.
5:44
>> Ben Macklin, one of the greatest ever do it.
5:46
Uh yeah, the story's not over.
5:48
Um, anyway, there are a ton of stories that are not over.
5:49
We're going to take you through a bunch of them.
5:50
First is that we received a Renaissance painting in the mail uh, from a company called Gamut. They uh, posted a video.
5:55
We can play their little clip of how they put this together.
5:59
Uh, very funny go-to-market strategy. It got our attention. We opened it up.
6:04
I'm like, what is this huge box that's addressed to us?
6:07
Turns out it's uh, an AI image of me and Jordy dressed as Renaissance medieval knights or something. Hanging a gong. Got the horse in there.
6:15
Got a bunch of different stuff.
6:17
Uh, I would go Ben McLynn stand up over this, but it's a close second. It's a close second.
6:24
Very disrespectful to to to Ben McLynn's uh, uh, pop up. >> gone. >> He's gone?
6:30
Anyway, can we play the video of the the we asked Gamut agents to make Renaissance portraits of 130 startup founders, found the founder, sourced their photos, ordered the paintings, found their offices, mapped the delivery route.
6:43
Very cool workflow for go-to-market, for attention. And uh, and funny.
6:50
They're having They're They're They're dressed up in costumes.
6:52
They're having They're having fun filming this.
6:54
Uh, I feel like we are entering a a new era of startup launch video.
7:00
The vibe reel meta is dead and uh, this is unique and the next one we're going to show you is unique, too, uh, in my opinion.
7:10
Now, uh, there are some drawbacks with this.
7:12
You know, uh, it it it will lose its luster if uh, everyone in the world receives a Renaissance painting.
7:23
Uh, it'll be a little bit uh, a little it'll get stale.
7:28
>> [laughter] >> I love it. Uh, but this is great.
7:28
I I I think this is so fun.
7:31
And uh, this goes back to uh, Sam Blond when he was at uh, oh, it was at Brax or he was working with Parker Conrad at Zenefits or something like that.
7:40
He said that he was in in the go to market role.
7:43
He was trying to get on the phone with companies and sell them uh either corporate cards or or or HR services at the time.
7:48
I forget which company he was with, but he would send a box of champagne, a bottle of champagne very nicely.
7:54
And he said that the the return, the uptake on yeah, I'll hop on the phone with Sam Walton.
8:00
>> he invented corporate gifting. >> Yeah, basically.
8:02
I I I mean, that's he's sort of the one that pushed it another notch up.
8:06
I'm obviously corporate gifting goes back >> preemptive.
8:12
>> Preemptive corporate gifting and I think he systematized it a little bit more than most people do.
8:15
And uh Gamut seems to have built an agent that allows you to do just that.
8:20
So, congrats to the team over there on the uh on the product.
8:26
>> uh a fascinating piece of uh AI slop, but uh when you put it when you bring it into the physical world, it it's it transcends.
8:34
It becomes something more than slop.
8:37
>> your review on this coinage that I heard from uh my co-founder over at Lucy.
8:39
When AI slop is good, it's AI slap. Cuz it slaps. >> Hm.
8:46
>> Specifically with regard to Suno songs. >> Yeah, I like that.
8:51
>> [laughter] >> You like not quite there, but anyway, you're I want the production team to tell me if this video, which is not AI slop, slaps because it is an adaptation of Obsession uh from Jerry Zhang over at Lema YCF 25.
9:09
>> What does F stand for? >> Fall. >> Fall 25.
9:11
Oh, cuz they do quarterly now. Anyway, let's play this. >> Fall. >> Yeah, F.
9:17
>> [screaming] >> I wonder what that about this email was.
9:20
>> Can we not talk about that right now? >> Okay. Sorry, Ed.
9:25
It's the second time they texted me that. I'll be right back. >> What is it, dude? >> I'm busy.
9:32
>> Okay, so >> What is it?
9:35
>> I looked into your out of office emails, and she sent out replies to all 30,000 emails in your >> No, you haven't seen Obsession.
9:41
>> I told her to only reply to emails when I'm out of >> But the production team has?
9:45
>> Look, you know it's my job to surface these kinds of failures for you.
9:47
And if they sent >> Yeah, I think it's in the same restaurant, too.
9:51
>> 30,000 emails >> Looks very similar.
9:53
>> It's either a lack of guardrails or a compliance bot, or I don't know, man.
9:57
I'm going to pull the traces and look into it for you.
10:11
>> They nailed the production.
10:11
Like, the lighting, cinematography, identical.
10:21
>> I don't think I could function without your prompts.
10:26
>> Calling tools on my behalf.
10:31
Without any human oversight.
10:34
>> Yes, without any human over >> Nica? >> Yeah.
10:41
>> This is a little slow, so I'm going to tell you about Railway.
10:43
Railway is the all-in-one intelligent cloud provider.
10:46
Use your favorite agents to deploy web apps, servers, databases, and more, while Railway automatically takes care of scaling, monitoring, and security.
10:53
It definitely has the pacing of a Hollywood film.
10:55
>> [laughter] >> Maybe we need to go back to the dial-up real era.
10:57
>> What what's the product?
10:57
It's uh it it it basically monitors agents made by other companies.
11:04
>> Jerry says "Agents are taking on real economic work as runs get longer, mistakes become expensive at best, catastrophic at worst.
11:09
Today, teams find out from user complaints, or never.
11:13
Monitoring tools only catch what you told them to watch for, so you set up the judges, you trace the issues yourself, but agents will always fail in ways you didn't predict.
11:22
That's why we built Lama.
11:24
Lama understands what your agent is supposed to do, so it surfaces failures you never defined automatically.
11:29
So, Lama sits there, watches everything that goes on.
11:32
Oh, there's something that seems really odd because it's basically taking the whole context of everything that's happening in the organization and saying, "Okay, well, you just sent out 100,000 emails.
11:42
Like, was that the right thing?
11:42
You should probably flag this.
11:43
This seems like an an uptake in like you would see if you start seeing an insane amount of traffic on a specific product detail page on your your e-commerce site.
11:52
It might be that Oh, something's or coupon code.
11:56
It might be that something's going viral on this particular skew.
11:57
Maybe you need to buy more inventory if the best case, maybe you're being spammed or or or scammed in some way or maybe you accidentally priced your product at 1 cent instead of $1 and so or $100 so people are buying it and you need to fix that.
12:11
This will do that across the entire organization.
12:13
And there, production team, what do you think about the the the the obsession knockoff as startup launch video?
12:20
>> I thought it was pretty good.
12:22
>> [laughter] >> Rave review. >> Yeah. I don't know. It looks like the movie. Mike Mike disagreed. Maybe. >> Oh, Mike disagreed. Shots fired. >> Mike say, Mike? >> Wrong lines. What we got? >> I don't know. >> Take some shots. >> He said color's off. >> Oh, the color's off. Okay. Okay.
12:34
Well, the experts have weighed in. So.
12:40
Uh anyway, >> No, I I mean I can see a new meta of of startups just recreating uh iconic movie scenes to promote their products. Uh but I don't know.
12:50
Was that was that the founder?
12:52
>> Like if you're growing human tissue, you recreate Michael Michael Bay's The Island to show [laughter] Just recreate the dystopian scenario that you're creating.
13:00
>> And then be like, "It's exactly like that."
13:01
>> No, there is something to that where Obsession is a horror film. It's very scary.
13:05
And so, the the the enemy of the product is shown.
13:09
Like, the Lema is the guy on the phone that who In Obsession, basically, there's this curse and the woman becomes obsessed with the man and the guy's friend calls him and says like, "Hey, your girlfriend is acting very very weird. Something's going on.
13:25
You need to break up with her.
13:25
You need to rethink this.
13:26
And so, Lemon is the friend in this scenario, but it is a horror shot after all, so it does leave you with >> is the agent.
13:36
>> The woman is the agent.
13:37
>> Yeah, the the agent that has gone off the rails.
13:38
And so, there is a there is a little bit of like you leave with the feeling of a horror film, which is [laughter] so just on on a generic brand experience side, I'm like, but that's how kind of the emotion that they wanted to deliver, right?
13:51
Was like Yeah, a bad >> agent >> or an agent doing something really bad in your organization, so not not an unreasonable not an unreasonable scenario.
14:01
Anyway, um there's a there's debate between Corgi and Shield Manor on the Corgi becoming an issuer of the ETF business.
14:12
Shield says wild that Corgi the insurer is in the ETF business.
14:15
ETFs are mostly distribution plus branding.
14:17
So, if you can manufacture them cheaply, I get launching a ton and seeing what sticks, and they really are spraying. Here are some of them.
14:25
Coffee energy drinks ETF, New York City companies ETF, beauty ETF, BNPL ETF.
14:31
They have a gambling ETF, a surveillance ETF, a US war machine ETF, and lifestyle brands.
14:39
They combine for $25,000 in gross fees, but they have a hit semiconductor photonics.
14:44
It's 506 million of the 914 million Corgi AUM and generates $1.
14:49
8 million a year in gross fees.
14:52
That feels like really big scaling very quickly for a company that's as young as Corgi.
14:57
So, it seems like the product is working at this point. I don't know.
15:01
People were people were going back and forth on like, is this a is this a pivot?
15:04
We thought they were an insurance company, now they're an ETF company.
15:11
But I don't know, did you dig into any more of this story because Nico from Corgi did fire back. >> Nico fires back.
15:16
He says you should never work with VCs who devote their time to dunking on startups on X, taking money from Shiels fund is a hugely negative symbol for the startups who do that.
15:28
For this reason, he is bad for the ecosystem and this is His behavior is a pattern of his.
15:33
>> Wait, was Shiels dunking?
15:33
It felt like he was saying just >> Uh I don't think he was dunking.
15:37
I mean I I I I think that Shiels has probably >> he just said that stupid fund is one of the most lucrative for Corgi, okay. Yeah.
15:47
>> Um I think Shiels has probably made other comments about Corgi historically and so >> fired. >> Yeah.
15:56
Yeah, well, there I don't I don't I I think Shiels is just genuinely very curious and Nico I don't think likes the um >> Mhm. >> likes the attention.
16:06
>> Yeah, the the critique.
16:06
So, Shiels said, "I'm not sure why you are so defensive.
16:10
I literally said the same thing as you.
16:12
In my opinion, lunching launching a bunch of ETFs cheaply and seeing what sticks is a reasonable strategy if your costs are near zero."
16:18
costs are near zero." And Nico says, "No, it's a pattern of behavior and rather than your own statements, you try to hide behind being imprecise or vague with your language selectively pointing out a bunch of new ETFs without traction
16:29
yet and pointing out FDRX, lower AUM, while ignoring our unleveraged version, FDRS, which has 90 million of AUM, uh shows this is another dishonest selectively vague post against us like your previous comments regarding our underwriting." So, they're going back
16:43
So, they're going back and forth and uh there's a whole The timeline's been in turmoil over Corgi for a while.
16:48
Uh they do the cafes, they get a lot of attention, but uh in general, uh it does seem like they've broken through and it feels like there is a real product and insurance is a is a product that can actually grow and it's much less >> Yeah, and insurance and ETFs are pretty much all come down to marketing and distribution. >> Yeah.
17:08
>> And so But yeah, but but yeah, very feel like very different businesses to be in and so I wonder what I wonder what the thinking >> And I mean, for most business insurance, you can get you can get in trouble if you are
17:24
if you have a lot of correlation across the portfolio of insurance policies and you're loaning to an industry that will face like a secular downtrend at the same time like mortgage reinsurance for example was the big example during the financial crisis. But
17:37
But if you're writing up if you're writing a like a directors and officers insurance to a startup it's hard to imagine a situation where there's a massive drawdown across the entire portfolio all simultaneously at least in my mind. But I don't know.
17:52
I don't know because it's not like they're insuring against like startup like like the market weakening and and startups going bankrupt.
18:01
Like that like if a startup goes bankrupt, they do stop paying their premiums obviously, but it's not like there's a like like like an insurance broker has to pay out a settlement.
18:09
That's a different thing.
18:13
It would be the difference would be if you're doing like a ton of cybersecurity a ton of cybersecurity insurance and then all of a sudden there's way more cybersecurity attacks, which honestly in the AI era maybe that happens.
18:23
Maybe there are more cybersecurity incidents.
18:27
There was the Trezor incident incident recently and it does feel like there's an uptick of that.
18:30
Obviously the AI models are more capable than ever.
18:33
There's open source models.
18:35
And so you could see you could see more risk or just different underwriting of cybersecurity policies in the modern era.
18:42
But >> Martin Shkreli says I stand with Corgi. >> Okay.
18:46
>> And Nico says thanks Martin.
18:46
Fun fact when I was in high school my friends and I wrote you letters when you were locked up.
18:52
Sending letters to prison.
18:52
You had a huge impact to a to a generation of young entrepreneurs.
18:59
>> [snorts] >> And uh Looks like Elizabeth Holmes also replied.
19:03
It is amazing to see how many young hungry founders write guess write letters.
19:09
>> written anyone a letter who's been in prison.
19:13
I've also just never written a letter at all, but uh >> [laughter] >> I mean, I don't I don't know.
19:18
I I I send text messages and emails.
19:20
I don't really write letters, but um there was one person in prison that I wanted to that I was like, "Oh, we should write >> my memory of of processing uh Shkreli's whole Pharma Bro saga during that during that time was I thought he seemed pretty entertaining. >> Yeah. >> Definitely a rascal.
19:44
But >> And and and the actual like underlying elements of the case were sort of outside of the tech world because it was like an edge fund issue um and an accounting issue.
19:50
I I I was interested in getting to the bottom of the Elizabeth Holmes story, but mostly mechanically.
19:57
Like, how can you post on Twitter while you're in prison?
19:59
That feels like the first right that they would take away.
20:02
Uh otherwise, if you can post on Twitter, like, what what's the punishment?
20:07
>> [laughter] >> What do we think?
20:08
We're not really punishing people. No. Like, lock me up.
20:11
Just don't take away my account. I got to scroll.
20:13
Um but it does seem like there was an intermediary there, and that was discovered pretty quickly, and that was transparent, and there's a flow of emails that go back and forth.
20:22
And so, there was a delay, um but it was an it was an interesting discussion nevertheless, but uh not not necessary.
20:28
There was also that very weird uh Tucker Carlson interview with SBF. You remember that?
20:34
Where like he was able to do a like a sort of a podcast interview like over the phone, and I think that that is not okay >> Yeah, he I think he got in trouble >> I think I think SBF got in trouble with that.
20:45
But even then, SBF has been trickling out tweets for the last few couple years, uh mostly taking victory laps on his uh on his uh startup portfolio and his investment strategy.
20:54
He, of course, was an investor in Anthropic and is up like a bajillion dollars on that trade.
20:58
Um although, it would the position was sold, I think, so it's it's more of like a fantasy football portfolio at this point.
21:06
Anyway, let me tell you about Cisco, critical infrastructure for the AI era, unlock seamless real-time experiences and new value with Cisco.
21:11
Uh, speaking of Anthropic, there is an article in the journal, the uh, The Information has been reporting on uh, even Claude is in the dark about Dario Amodei's wife and her influence at Anthropic.
21:21
Cammy Clark, who started what she called a revolutionary porn company where she sought investment from Jeffrey Epstein, keeps a low profile, but is a key advisor to the AI chief.
21:29
It's its coming IPO could top trillions.
21:32
And so, um, this is uh, so his wife has the the actual lineage here was uh, Dario mentioned that he was married, uh, I believe to uh, to on a Bloomberg podcast, I believe.
21:50
Um, >> That was recently? >> I think. That was recently.
21:52
Um, but there was it was never public who this person was.
21:57
And then, uh, I believe Cory Weinberg over at The Information included Cammy Clark's name in a Dario profile that he published last week.
22:05
And people were sort of like, "Oh, this is new information. We haven't seen this."
22:12
And of course, there's all the debates over, "Is this necessary?
22:13
Is this like in the public interest?
22:15
At what level of power does it make sense to report on someone's life?"
22:21
Uh, obviously, a lot of people are like, "Yeah, keep my name out your >> [laughter] >> like don't just don't report on don't report on my personal life.
22:28
We can talk about my business, but uh, my personal life is just annoying because now you need more security.
22:34
Now you need more all all sorts of different things that can come up from these things."
22:38
But, um, lots of people are debating this on the timeline like, "I- i- Is is Anthropic systemically important at this point?
22:44
Is it is it such an important company that uh, it does merit this?"
22:48
And certainly, it met the the editorial criteria for The Wall Street Journal and The Information who take this stuff uh, pretty seriously.
22:54
So, uh, Clark doesn't work at Anthropic, but she is often seen sitting front row while Dario Amodei talks at events such as Davos or can be found chatting up investors at gatherings like uh, Allen & Company conference in in Sun Valley.
23:05
She acts as a sounding board and strategic advisor for Amodei, according to people close to the company.
23:12
She also brought Anthropic, a key early investor, former Google CEO Eric Schmidt, whom she had dated as it was getting off the ground in early 2021, some of the people said.
23:23
Despite her influence, there are scant details about Clark online.
23:25
There's one YouTube video of her pitching an earlier startup that's still up.
23:29
She's on stage for about 5 or 10 minutes and sort of gives a It's like a health company that she pitches.
23:35
And it's pretty good pretty good pitch.
23:37
She has a couple of note cards and so her goes through it.
23:38
But that's the only thing that's really online anymore.
23:41
The pair married in 2022, apparently in Italy.
23:42
But Amodei's Wikipedia page didn't say he was married until this summer and doesn't say to whom.
23:50
Searches for Dario Amodei's wife on Google often turn up a photograph of his sister Daniela Amodei, who helps run the company.
23:56
Even Claude, Anthropic's AI chatbot, responds to queries by saying Dario Amodei's marital status doesn't seem to be clearly confirmed.
24:02
That is extremely good because there's always this fear that when you're using an AI chatbot, the whatever you say will be baked into the next training run and that the personal details will get leaked into the into the model.
24:17
And so like if I'm saying something about Jordi, like you could look up something about you and and it would just show up and leak in the model.
24:29
So good like I think that this is like there's the whole like you should you be more transparent question.
24:35
But just in terms of actual like removing personally identifiable information from data that goes into training runs.
24:43
Obviously, if you work for the company as CEO, you probably have fully private.
24:46
Don't train on anything I ever say ever.
24:47
But just just good that it didn't leak through the actual model.
24:54
Um So, the Wall Street Journal writes, "As Anthropic hurdles towards an IPO that could top $2 trillion as soon as this fall, Clark is one of the most influential voices shaping the decisions of the CEO at the forefront of the AI industry, a revolution remaking all aspects of work and life that simultaneously thrills and terrifies most of the public."
25:12
Yes, uh that is 100% accurate.
25:15
Uh it's a remarkable rise for a woman who didn't graduate from college, had a previous brief marriage at age 20 to a man more than 40 years older, and once declared bankruptcy.
25:25
Her career included co-founding a women-focused {quote} free luxury porn company that she unsuccessfully tried to persuade convicted sex offender Jeffrey Epstein to invest in, and started a {quote} women uh a social a women's social dieting app that morphed into a women's healthcare AI company.
25:43
That was the video that I saw on YouTube.
25:45
Um She made connections with powerful people, including Schmidt, whom she brought into Amodei's orbit.
25:51
The billionaire left his roles at Google and parent Alphabet in 2020.
25:55
Oh, I didn't realize he was out in 2020.
25:57
Um and transitioned into investing in tech startups among other things.
26:02
She also tried to persuade Schmidt to back a venture fund she would run with him to invest in Anthropic and other AI companies, although that didn't move forward.
26:12
Claude, the company's chatbot, is now the chief >> Very interesting interesting uh differentiated name for a fund.
26:17
I think it was the mother of AGI. >> Mother of AGI.
26:21
Extremely AGI-pilled name for uh for raising a fund in 2020.
26:24
Not people Not Not many people were taking that term seriously.
26:29
Uh it is uh it is a good name, Mother of AGI Fund.
26:32
Uh the goal was {quote} to be an elegant solution to formalize Cammy's involvement in Anthropic, Dario's company, and manage Eric's investment, and invest in the AGI ecosystem.
26:42
Um but I don't think it ever went through.
26:47
Others at Anthropic, including Daniela Amodei and other co-founders, didn't support the plan, according to people familiar with the matter and it didn't move forward by the end of the year.
26:55
Associates said they recall seeing what looked like an engagement ring on Clark's hand and not long after the couple wed in Italy.
27:00
Clark known for being social and outgoing has interacted with politicians and investors on behalf of Amodei chatting with them and bringing them over to meet her bookish husband at conferences and events.
27:13
Um there's also some interesting details in here about her relationship with Ivanka Trump at the Sun Valley conference in July where she spent much of the week by her husband's side.
27:21
She had lunch with Ivanka Trump a friend and chatted with Jared Kushner whom Amodei had approached earlier in the year to invest people familiar with the matter said.
27:28
So a little bit of more nuance around the relationship between Anthropic and the administration.
27:33
Obviously the Department of War dust-up was a big drama cycle earlier this year.
27:39
There's already communication between the two or the the two entities to sort of you know, maybe smooth things over.
27:46
Um the the interesting post that this made me think of this whole conversation was from Patrick Collison back in March of March 11th and I don't remember what was going on March 11th but I imagine it was some open AI drama [laughter] but he said there's a lot of unevenness in how much attention internal drama and palace intrigue gets across different organizations and we were joking that it was like why is no one writing hit pieces about Stripe?
28:15
>> [laughter] >> Cuz he's like cuz it's just like me and my brother running a really clean ship and no one really complains and there's never been a there's never been a coup and we just refuse to take the company public and and just grow the business. >> payment rails.
28:28
>> Yeah, we're yeah, we put the payment rails in the bag, sir.
28:31
>> Honestly, if if Stripe is as successful in the fullness of time as I think it will be, there will be probably insane online conspiracies about about the Collisons. >> yeah, yeah, yeah.
28:45
>> Who are these two brothers?
28:46
>> Yeah, sort of a Hibernian conspiracy.
28:48
The Hibernians are Irish.
28:51
>> [laughter] >> Uh Barack Obama part Irish, right? >> Goes pretty deep. >> Wow. >> Yeah.
28:56
>> Deeper than I thought. >> Yeah.
28:57
That's when the company got started. Is that a coincidence? Who knows? Dig in.
29:00
Uh Patrick Collison went on to say, "As far as I can tell, this is substantially a math a matter of path dependency.
29:08
We know the characters in the sitcom of certain organizations, but not at others.
29:13
And this creates self-reinforcing lock-in effects.
29:17
How much does one hear about the power struggles at Chevron or the Department of Agriculture?"
29:21
Uh I I would love to read about the power struggles at Chevron or the Department of Agriculture.
29:26
We need a we need a banned PDF or or a a tell-all book.
29:27
Uh the next uh Sebastian Mallaby or something. I don't know.
29:33
Um or maybe uh uh I don't know.
29:35
Who else Who else can can tell a a a great business story?
29:40
Maybe uh Uh we'll have to dig into it.
29:43
Uh there is even significant heterogeneity between ostensibly similar companies within sectors.
29:50
And so, I I took this at the time and sort of wrote a piece about this to calling uh calling it like tall poppy syndrome coming to America.
29:58
Just this idea that uh that the intention of the public is intensely focused on like the hottest company at the time, and then all the arrows get directed at that.
30:08
And I think I think that's something that's happening um at this point.
30:14
Uh I I said at the time, "Years ago I was talking to an American venture capitalist about New Zealand and asked him about the startup community there.
30:21
Uh the country is beautiful, highly developed, democratic.
30:22
Uh it consistently ranks among the world's most stable, wealthy, well-governed societies.
30:27
Certainly worth visiting, but could but could New Zealand produce a power law company one day?"
30:31
Like are we going to hear like we've seen with Spotify and there's been a number of other companies?
30:38
Certainly in China they have a number of, you know, decacorns and uh centacorns over there, huge companies.
30:44
Will we ever see one out of New Zealand?
30:46
It seems to have the recipe.
30:47
And he said, his assessment distilled down to something along the lines of they are suffering from a bad case of tall poppy syndrome.
30:52
Put simply, individuals who achieve visible success are criticized, attacked, or socially cut down because they stand above the others.
31:01
The metaphor should be obvious, but when you cut the tallest flowers in the field, the surface appears even.
31:06
Anthropologists even call this leveling behavior in hunter-gatherer societies.
31:11
Good hunters might be mocked, discouraged from bragging, sharing would be encouraged to prevent resource concentration.
31:16
There's nothing all that bad about a preference for humility.
31:19
America has long been suspicious of Lamborghini-driving, self-promotional Instagram course hustlers, and for good reason.
31:25
They're usually sell selling overpriced junk food.
31:29
But the strong form of tall poppy syndrome leads to slower startup formation, fewer truly fewer truly scaled companies, and ultimately a talent exodus or brain drain.
31:36
America has never had this problem.
31:38
I don't think we're particularly close to developing a crippling case of tall poppy syndrome anytime soon, but it's worth understanding how these leveling behaviors shape the narrative in tech.
31:48
And I think that's a little bit of what's happening right now.
31:50
Will this affect the IPO?
31:52
Will this affect that the stock price? Like, probably not.
31:56
But John Stokes was sort of laying out why he thinks this piece was worth, you know, writing.
32:04
He says counterpoint, it's it's vital and overdue.
32:06
Anthropic late itself laid out the stakes very publicly as follows, quote, our product is a And this is not an actual quote.
32:14
>> [laughter] >> But I I guess this is like the vibe that he in particular picked up on.
32:20
>> pretty effective summary.
32:21
>> He says our Our product, talking about Anthropic, is a godlike intelligence that will rule over you.
32:25
See how our staff endows it with morality.
32:27
We even deigned to consult the Pope.
32:29
Okay, so let's look at your morals, he says.
32:31
The This crowd can screech about the object level, like, is the company making money? What are the margins?
32:38
The more important details about risk as opposed to the morals.
32:43
But, John Stokes says, by their own terms they made morals and virtuous behavior the object level in the AI debate.
32:50
That's literally Anthropic's whole frame.
32:51
So, why are the morals of the people who are giving AI its morals not fair game? >> Yes.
32:58
If anything, it it feels like it disrupts some of the brand positioning around morality.
33:03
Makes that um maybe less effective. >> Yeah.
33:09
>> Uh it is it is fascinating, in my view, that this kind of coverage didn't happen like a long time ago. >> Yeah.
33:19
But, that's normal for the for the for the mainstream media.
33:21
Like, Anthropic was not an interesting company to write about at the Wall Street Journal or The Information, even like last year.
33:30
It was like a I mean, it was a great company.
33:31
>> Yeah, but but even like the images that are in the Wall Street Journal piece >> Yeah. >> are from February. Right? Where they're >> Yeah. >> together.
33:39
And you would think that somebody would have asked, "Who is this person that Darya is holding hands with?"
33:45
And then tried to get a little information, and the internet was mostly scrubbed, but you could just look up her name in the Epstein files, public federal database.
33:58
>> It actually did hit the timeline.
34:00
Someone was just digging through the the Epstein files in February and posted it, but didn't make the actual connection.
34:08
Which is very very very interesting.
34:09
They were just like, "Here are all the crazy interactions that I found while digging through the files."
34:12
And this was one of them.
34:14
That that the the actual interaction.
34:16
But, they didn't piece it together fully.
34:19
It it it obviously the the context of being in the journal is a very very different thing. >> Yeah. >> Anyway.
34:25
>> Uh anyways, probably overall mostly just bad for the AI industry overall. >> Yeah.
34:33
>> Um >> Yeah, Nick Carter sort of summed it up here.
34:35
He said, "Remember, if Anthropic wins and closed source wins, these are the people that will get to write the morality rules for the entire planet.
34:41
And so, uh it it maybe is worth interrogating the morality, seeing where if you agree with it if if with this stuff or not, you know?
34:47
This is This is the beauty of America.
34:49
You you get to read the information, the freedom of the press, and then decide where you sit on all of this.
34:56
Um the uh in terms of how bad this is for the AI industry, it still feels like it ranks below data centers and below uh like ripping up old books.
35:05
I I don't think this will get that much traction online, but I don't know.
35:10
Uh like the the like there there is a whole class of like political commentators that are hyper fixated on like the Epstein class.
35:17
And so, the like this could grow, but uh it feels like it's arm's distance enough.
35:21
It it it it's it's not Daria, it's his wife, and it's not it's not her, you know, going to the island, it's her emailing him for fundraising.
35:29
They they didn't actually do a deal together.
35:30
And so, there's like a number of steps removed as opposed to with the other stories, it's much more like this data center came to town and is dirty and I don't like it.
35:39
And so, you pays post a video of that, and that's like much more direct.
35:43
So, uh of the pushback, this feels like uh it will it will rank lower, but I don't know.
35:51
We'll we'll we'll we'll see where this goes.
35:52
Obviously, it's it's tearing through tech today.
35:53
Um but uh we'll we'll we'll see if this is something that has long-term uh impact on the industry or anything like that.
36:02
Uh anyway, let's move on to something else. public.
36:05
com investing for those who take it seriously.
36:07
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36:10
And there's a story that I didn't even remember to put in the timeline, but it is related to to trading stocks publicly.
36:16
South Korea is ordering new investors to take classes. Did you see this? >> Woah.
36:23
>> Okay, so it >> [laughter] >> South Korean study >> Literally.
36:27
>> This is a cultural pastime. >> This is crazy.
36:29
>> You're going to learn how to use leverage. >> Yes, basically.
36:31
There's going to be So, South Korean retail investors must now create complete a week-long course before >> Week-long.
36:40
>> a week-long course before they can start trading a in single stock funds as regulators tighten restrictions on products blamed for exacerbating wild swings in one of the world's most volatile stock markets.
36:52
So, the move follows an extraordinary boom and subsequent correction in South Korean equities.
36:59
The KOSPI rose 76% in 2025 and then doubled again this year peaking at more than 9,300 points in June.
37:09
Retail investors poured a net 70 billion dollars into the market.
37:12
And remember, South Korea's not nearly as big as America.
37:16
Um and so they were all yoloing effectively into the AI driven rally like chip makers SK Hynix and Samsung Samsung Electronics.
37:24
The rise coincided with government efforts to boost the market.
37:28
Single stock leveraged ETFs in the two companies were introduced in late May allowing investors to magnify bets on Korea's semiconductor champions.
37:39
Then at a press conference on June 8th, President Lee Jae-myung said that the market was still quote somewhat undervalued despite having hit about 8,000 points.
37:53
So, you have the president of the country being like we got a room to run.
37:58
Now is a generational buying opportunity.
38:00
>> I wonder I wonder if he'll also get into selling early access to his comments on the market. >> Maybe. Maybe. >> just the new meta.
38:07
A lot of people have been sort of disgusted and disappointed by that kind of behavior >> Yeah. >> over here. >> Yeah.
38:16
>> Uh but maybe it's just the new normal.
38:17
>> So, the rally unraveled in July with the KOSPI falling 22% for its worst month since the global financial crisis, the finance ministry announced measures to limit access to leveraged ETFs.
38:27
Many retail investors have suffered significant losses in single stock leverage ETF craze and their perception of those products has changed.
38:36
Investors bought Samsung and SK Hynix leverage ETFs in late May and held them until mid-July.
38:43
They lost about half their money.
38:45
New investors in single stock leverage ETFs must now complete at least 1 hour of simulated trading a day for 5 days.
38:54
So, it's not a 40-hour course, it's 1 hour a day of simulated leverage trading for [laughter] for 5 days straight, then you will be allowed to trade on these platforms.
39:09
>> They also have mandatory military service.
39:11
So, now they have mandatory day trading.
39:14
>> Mandatory [laughter] Mandatory >> the end at the end they go that wasn't a simulation.
39:20
>> You were trading the real market.
39:20
Yeah, it's Ender's Game in Korea.
39:24
>> [laughter] >> You you you just you just secured a generational bag.
39:29
Uh that was real money you were trading.
39:31
Uh I wonder I wonder it'll be very interesting to look at the data from what the what the traders do in simulation versus reality.
39:37
Like do they take more risk cuz they know it's play money?
39:41
Are they Are they actually learning >> on a and I'm when I'm in a racing simulator, I do drive a bit different than when I'm actually on the track. >> Okay. Okay, we'll see.
39:52
>> presumably this would like teach the wrong instincts, right?
39:53
Because if you if you just sit there No, obviously obviously obviously they're trying to show people that if you are trading with leverage, you just lose a lot of money often.
40:04
>> You're just going to get wiped out.
40:04
So, you're like, "Okay, I I got wiped out on day three.
40:06
Now I'm not going to get wiped out when I go into the real market."
40:10
>> Wouldn't you want to like instill like you should just go you should just buy and hold, right?
40:13
But if you just sit there an hour every day like you're not just going to what like press buy and then sit there. >> Yeah.
40:18
>> It's going to like teach you like, oh, you're going to be doing zero day trades. >> Yes, for sure.
40:21
You're going to be going crazy.
40:23
So, uh a quote from a sole resident who lost money >> to think about if you were let's say if if as a as a team we were forced into the day into a week-long day trading course, you know that we would probably have some side bets on who could run it up >> For sure. For sure.
40:44
>> as possible in simulated trading.
40:44
And so >> [laughter] >> We've probably done we were really close to actually doing that and having that be like a show segment between the retail corner >> corner. >> The retail corner.
40:57
He He was having some He was having some wild swings.
41:02
>> [laughter] >> Um but a real a sole resident in South Korea who lost money said this.
41:06
He said, "It does feel a bit like closing the barn door after the horse has bolted."
41:14
Though it's better than doing nothing.
41:16
Saying like, "I already lost it all." I don't need a course. >> Is that a real quote? >> real quote.
41:21
>> That feels very borrowed from like the American South. >> Yeah. Yeah, it's great.
41:24
It does feel like closing the barn door after the horse has bolted. I like this.
41:30
We got to take a trip to South Korea.
41:30
Uh however, there are signs that tighter market regulation is cooling the market.
41:36
Daily turnover in single single stock leveraged ETFs on July 30th fell uh from 12 trillion to just 70 billion.
41:43
So, that's a huge drop-off, 90% down on the actual trading volume.
41:50
And uh for Yoon, the South Korean resident who lost money, it has done little to restore faith in policy makers.
42:00
Investors like us have grown increasingly resentful.
42:01
Trust in the government has been severely shattered.
42:07
He was counting on the government to uh stop him from going too crazy in the financial markets and they did not and uh he's upset about it.
42:16
He's he he's not happy, so uh interesting interesting development. We'll see where it goes.
42:21
Let me tell you about console. com.
42:24
Console builds AI agents that automate 70% of IT, HR, and finance support giving employees instant resolution to access for access requests and password resets.
42:34
>> John, >> Jordy, >> it's time to talk about car week. >> Okay.
42:39
>> Let's do car >> First, before we talk about car week, we're going to talk about Tesla nears unveiling of radical new flying roadster.
42:46
So, if you remember, probably around 6 months ago, whenever Elon did his last appearance on Joe Rogan, >> Yes.
42:53
>> he was alluding to the idea that the roadster might be able to get a little bit of air time. >> Yeah.
42:59
>> Anybody that has done driving in the back country knows that all cars can get air time.
43:04
But, [laughter] I don't think that's what he was alluding to.
43:08
I don't think that's what he's alluding to.
43:09
I think I think he was alluding to some set of features that allow it to >> fly. >> fly. >> Yeah.
43:17
>> And what I don't know what we're going to I don't know what flying is, right?
43:20
Is flying an inch off the ground if you're if you're moving it at 100 miles an hour? Maybe. >> Maybe.
43:26
>> Um >> So, there is a Chinese car that can jump over a pothole, extremely relevant for Los Angeles.
43:32
We got to get this car here.
43:34
So, change all the tariff rules.
43:37
Uh but, some sort of I think it's a BYD can can actually change the suspension so aggressively that it can jump while traveling.
43:44
Uh and and we said like, "Okay, the gauntlet has thrown down.
43:49
Jumping is not enough to go viral.
43:49
Uh jumping will not satisfy the criteria of you know, flying."
43:55
So, it has to be able to, you know, probably go more than 6 in off the ground, maybe a full foot off the ground.
44:02
It has to be able to stay off the ground for, I don't know, a few seconds, 10 seconds.
44:06
My speculation was that it would be able to use the use the thrusters to lift off the ground and parallel park directly in.
44:18
That was my prediction for something that would satisfy flying without actually being just oh, you can just fly it from Malibu to LA. >> Yeah.
44:27
>> Like I I I think that that's probably not in the cards, but I think that it has to have a crazy demo.
44:31
It has to look crazy, it has to have crazy stats, but it also has to have a crazy viral video demo where you show it and you're like wow, no other car can do that, not even close. But >> Anyway.
44:43
>> information has the exclusive >> thing is that even as far back as eight years ago, there were patents that Tesla filed related to using effectively rocket style thrusters in a vehicle and people were already kind of chattering around then, is Tesla going to make some type of car? >> the SpaceX collab? They have the rockets?
45:06
>> Yeah, the the SpaceX if if Tesla comes out with a Roadster that has a SpaceX it's like basically like a Merlin engine on it.
45:15
>> Some type of SpaceX engine, there's probably I would put it now that the company's public >> Yeah.
45:22
>> there's probably 10,000 buyers for that car.
45:24
Like you can imagine a lot of people >> That's 20 times the Audi Nuvolari.
45:31
>> Um >> It's pretty wild.
45:32
>> Um >> Well, the Audi Nuvo- the Nuvolari is like intentionally >> Yeah.
45:35
You know the other thing that they could do is they could go out to the salt flats and they could set the the world speed record, the high speed record because uh a rocket engine on the back of a Tesla going in a straight line would they could probably break the speed of sound and that would be amazing.
45:51
It wouldn't necessarily fit the flying criteria, but it'd be flying across the salt flats, so I I'd I'd give it credit.
45:57
Uh but it needs a crazy twist, I think.
46:00
>> Between Elon's promises, this is Grace K in the information this morning.
46:03
Between Elon's promises of super nimble robots and interstellar colonization, the billionaire has spent plenty of time over the last decade hyping up another ambitious effort, the next version of the Roadster, the sporty electric vehicle that first put Tesla on the map.
46:18
At first, he said he wanted the vehicle to be the fastest production car in the world.
46:21
Then he said he wanted it to be crazier than every fictional James Bond car combined, and he wanted the car to be able to fly.
46:29
>> Don't the James Bond cars have guns and missiles on them? >> Yes, they do. >> Ejector seats.
46:34
>> I mean, I guess you could get a like in order to buy the Tesla, you have to have an FFL.
46:39
>> [laughter] >> You have to have a a firearms dealer license. >> oh, a dealer license?
46:44
>> Dealer license, that's >> Okay, so it's basically a gun store on wheels.
46:47
>> [laughter] >> Exactly.
46:47
Because you >> be very American.
46:49
That would be very Texan.
46:51
>> get automatic weapons, you can't get silencers, all these things are heavily restricted.
46:55
But if you go through the process to become a gun store, >> [laughter] >> you can get a lot more crazy stuff.
47:00
So, maybe maybe that's just the process.
47:04
>> directive sent Tesla designers down a rabbit hole that lasted years, delaying the car's release.
47:08
The company first showed a prototype design of the vehicle and began accepting reservations for it in 2017.
47:13
Since then, it has chucked that design completely and come up with a new one, >> Okay.
47:18
>> which hasn't been publicly revealed. That could change soon.
47:20
Tesla is currently planning an unveiling of the new design, which could happen as early as this month.
47:25
I was trying to figure out if is there any world that they do something at at car week happening right now.
47:32
>> Where are we on Tesla?
47:33
>> Um feels very, very unlikely.
47:33
It feels like much more like Elon to do his own event and not compete for attention.
47:41
Um that event will include an elaborate stunt showing off the flying capabilities of a limited edition version of the Roadster, the result of a collaboration between Tesla and SpaceX.
47:51
The demonstration is expected to take place at SpaceX's testing site in McGregor, Texas.
47:57
As recently as a few months ago, Tesla's plans for the demonstration were like something out of a science fiction movie.
48:02
They involved showing the vehicle racing onto a magnetized roller coaster like ramp and driving upside down before riding itself and hovering in the air, three people said.
48:12
Previously, Musk has said the vehicle's ability to fly would come from cold gas thrusters developed with SpaceX.
48:16
Still, there's uncertainty about what Tesla will actually show at the event. Did you hear that, John?
48:23
I'm going to read it back. >> Tell me.
48:24
>> A magnetized roller coaster like ramp driving upside down before riding itself and hovering in the air. >> I'm sorry.
48:32
I I need you to read that for a third time.
48:35
>> They're they're they're making a Hot Wheels style >> Okay.
48:38
>> roller coaster loop for the vehicle. >> is what leaked? This is crazy. I love it, though.
48:45
>> No, I absolutely love I love it. >> This is amazing. What is mag Okay.
48:53
>> Musk told some Tesla staffers in recent weeks that the demonstration will be difficult to pull off and could go awry, but it will be entertaining regardless.
49:01
>> [laughter] >> It's such a >> It couldn't be learned whether Tesla will show the event live or share recorded footage.
49:07
All spectators at the event will be stationed several hundred yards [laughter] away from the vehicle because of potential damage to their eardrums.
49:15
Cold gas thrusters generate high pressure gas that can create significant noise and vibrations, according to J Kim, professor of aerodynamics at the University of Southampton.
49:27
As a result, the car will be remotely operated without anyone inside the vehicle. >> [laughter] >> Okay.
49:33
This feels like we're getting farther and farther away from a production car.
49:37
>> [laughter] >> Hundreds of yards away, remotely operated, might go terribly.
49:46
>> Can you imagine getting >> [laughter] >> He's just reinventing rockets.
49:49
>> Honey, would Do running out and grabbing a gallon of milk?
49:53
>> [laughter] >> Let me start the cold gas thrusters.
49:56
Boom, all the windows break in your neighborhood. Let me pull out the car.
50:03
That would be very, very funny.
50:04
Is that the end of that story? >> That's all, folks.
50:07
>> [laughter] >> Let me tell you about Codex.
50:07
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50:20
>> Uh back to the story, Tesla could use some reinvigoration at the moment.
50:23
Its stock has lost nearly a quarter of its value this year.
50:28
Oh, maybe, you know, we we've had this, you know, you've had this theory for like over a year now that if that if uh Tesla and SpaceX are going to merge, Elon owns a lot more of SpaceX, so he would want Tesla to be at a lower valuation.
50:41
Maybe >> This feels like a pump, though.
50:43
This feels like this >> No, but if it if it's a spectacular explosion, >> Okay.
50:49
>> [laughter] >> then maybe then maybe then maybe, you know, the stock drops and the next day he goes, "Okay, >> Yeah.
50:57
>> time to time time to buy."
50:59
>> So, wait, do do the original reservations still get you to the front of the line of this thing? >> They better.
51:04
>> Because I'm I've been so close to putting down a reservation multiple times being like, "I think >> I think you should. I think you should.
51:11
>> a decade, but when it comes, it's going to be so hilarious and unique.
51:15
[laughter] Be like, "I Is it legal to drive in the United States? No.
51:18
Do I need to contact the FAA before I turn it on? Yes.
51:20
But is it a one of 10,000 >> Plus, you can still register for a Roadster. >> Okay.
51:30
>> You have to put 45,000 down. >> Yeah.
51:33
It was like 200 bucks originally. >> Actually, no. It's 50 50 50K.
51:35
5K immediately, and then you got to send a wire.
51:41
>> It's the same amount of money you can come and book a plug for plug walk, right? >> Roughly. >> I think so. That's the number.
51:48
Um well, in other car news, Porsche heard you loud and clear.
51:54
They're bringing back the manual for the Carrera S.
51:56
The 911 Carrera S is back with a manual.
52:02
Uh it's North America exclusive MT package for 2027.
52:04
Six gears, 473 horsepower.
52:08
That's pretty that that's a little bit higher than some of the models. Not bad. And loads of features.
52:14
All the details are over at motor1. com.
52:17
Jason Fried is very happy to hear this.
52:19
What do you think, Jordy? What's the review? >> it.
52:21
My first sports car, a manual 911. >> Manual 911. Here it is back. >> Makes a lot of sense. They're listening.
52:28
They're listening to their They're talking to their customers. >> Coupe is 170k. Yeah, they really are.
52:32
And and it's it's odd because I feel like the Porsche brand is strong.
52:34
I feel like they've had some misadventures in uh in the EV market, but in general, like the actual results of the new Cayenne EV Turbo S are insane.
52:43
I think 0 to 60 in like plaid territory, like 2 seconds.
52:50
>> Yeah, if if it had self-driving anywhere near Tesla's, >> Maybe that's it.
52:54
It would be way more popular. >> Maybe that's it.
52:56
Because we've seen that like the the the the financials of the company are beaten up, but uh the brand still is very solid.
53:01
They haven't They haven't They haven't had their like Lu Chen moment where everyone's like, "Oh, this one looks bad." You know?
53:07
They haven't had a backlash to the core visual brand, which I think is so important for longevity in this category.
53:15
Uh and so I I I think this will be successful.
53:18
And people have been asking for this.
53:19
Uh the 911 ST sold very well.
53:21
I think it's over a million dollars a car now.
53:22
And I still don't fully understand how all of the all the different manual [clears throat] options fit together across the portfolio.
53:29
The ST seems like very exclusive, but I I can't off the top of my head >> Well, then you have the Sport Classic. You have the R.
53:39
>> Yeah, there's a few manual options, which I think is good.
53:42
But when the ST came out, it was sort of branded as like the only way to get the full-throated Porsche experience in a manual.
53:48
And so that's why it's >> the T, which is manual.
53:52
So So they've been offering a variety of ways to get in to a manual. >> Yeah. >> Transmission 911.
53:59
Ferrari is also out with the Ferrari CZ26, >> Okay.
54:06
>> temporary reinterpretation of the high-performance Berlinetta concept through a pure and highly technical formal language.
54:14
It's a special projects car. >> Yes.
54:16
>> Uh it develops a new stylistic identity starting from the supercar features of the SF90 Stradale, defined by a direct distinctly horizontal design and a highly distinctive two-box silhouette.
54:30
>> It looks a lot more restrained than the than the standard SF90. >> Yeah. >> This looks cool. Yeah.
54:36
>> More refined version of the SF90. >> Looks nice.
54:40
I wonder how many is So the overall bodywork of this So are they just doing one of these and they're showing off at car week? They're just doing one.
54:51
>> Uh >> One of one feels like >> Yeah, I So far I haven't seen anything out of Ferrari uh >> from car week.
54:58
>> There's a bunch of other things outside of this.
55:00
>> They're the McLaren is introducing a con- the first concept of its kind in >> kind of stealing the show here.
55:05
>> McL 6GT, contemporary realization of Bruce McLaren's original road car vision.
55:10
The McL 6GT embodies the pioneering spirit that continues to shape McLaren. >> some sound here. >> Oh, yeah.
55:20
>> True connection [music] has to be real, felt in every input.
55:24
>> Notice how the the ad is shot vertically. >> Oh.
55:30
And they dropped it in square format on Instagram.
55:33
>> I love the the the front end. >> Looks beautiful.
55:35
>> Drawn from a lineage >> Why did they upload it square on Instagram or on [music] on bags?
55:40
No, I think this is just how X handles. Oh, really? Vertical video now. Oh, yeah, it is. Interesting.
55:47
They they blur the background and kind of blend it in. Interesting. You see that?
55:56
That's a little bit of a jab at Ferrari. Oh, yeah.
56:01
Yeah, cuz they have the manual by wire. Okay. It's a nice shot.
56:11
Again, is this >> [music] >> Yeah.
56:16
Oh, they're saying register your interest.
56:17
So, maybe they make a number of these. What else we got?
56:25
Anyway, if you're designing a car, you wouldn't Figma. Agents meet the canvas.
56:28
Your AI agents can now create modify your Figma files with design system context.
56:35
Aston Martin also launched the Valen.
56:37
Say they doesn't need an introduction. It interrupts.
56:40
>> [laughter] >> It kind of does need an introduction.
56:43
I've never heard of this before.
56:43
The most powerful front engine V12 car in our history limited to 150 cars worldwide for the purest.
56:48
And so, they're this is off of the Vanquish platform presumably.
56:54
But 150 versions of this.
56:57
Yeah, it looks I mean it again looks I think very cool.
57:03
They spec'd it in a in a way that it's fun to have these good car we I don't I don't necessarily love, but it it's it it feels very close to the Valour.
57:15
It feels very close to the Valour.
57:18
They also had the Victor at some point.
57:21
And anyways, I don't I don't know what Aston needs to do to really get back in the game.
57:29
I think the their primary challenge is at the lower end of the market.
57:37
>> Shouldn't they make that car mobile?
57:40
>> [laughter] >> Yeah, they should actually make that instead of just making it playable in the game.
57:44
>> It is it is weird that no one right now is going after what the Audi R8 was like a more affordable supercar.
57:52
All of the luxury car supercar hypercar manufacturers seem to be going up market with $500,000 million dollar cars, but there's and even the new Volari is up at 500 600 700,000, right?
58:05
Like I would if Audi makes a supercar you would expect it to be cheaper than the 296 from Ferrari, right?
58:13
Like because that's what the that's what the R8 strategy was.
58:16
The R8 was cheaper than the Ferrari of the day.
58:20
It was cheaper than the Lamborghini of the day or the base model.
58:22
So it's like if you do if you want a more affordable supercar with Audi badge >> With inflate with inflation you could have seen Audi making a $400,000 supercar, right?
58:35
The new Volari is much more limited comes in around 700 >> cheaper than that.
58:40
I mean the ZR1X like like >> Yeah, but that doesn't every every Audi is is being priced higher than whatever the Chevy Ford equivalent is. >> Exactly. So so so yeah, okay. Maybe you're right.
58:56
Like slice in between a ZR1X and a 296.
59:00
That's where I would put the new Volari or the the Audi Halo car.
59:05
>> I just think it needs to be priced somewhere around where the Temerario is.
59:09
>> Is it more expensive than the Temerario? >> It's almost double.
59:12
>> That's an odd choice, I think.
59:12
It should >> But it looks like a spaceship.
59:15
I got to see it in person on Monday.
59:17
It is even better looking in person. >> Mhm.
59:24
>> Uh it's a very special car.
59:25
>> Does it get absolutely mogged by the 2027 Mustang Dark Horse SC convertible? >> Maybe for you.
59:31
[laughter] >> America's back, baby.
59:33
While there you have to wait for the Tesla Roadster, Ford's got you covered with a 5.
59:36
2 L V8 with 795 horsepower, which is probably nothing compared to what the Roadster will have.
59:47
Uh and 660 lb feet of torque feeding the rear wheels via 7-speed dual-clutch transmission.
59:51
The Magneride suspension has a less aggressive tune than the coupe and the convertible won't be offered with the coupe's hardcore track package, but uh fun for the Mustang fans.
1:00:01
Mustang's been doing some special editions, too.
1:00:03
They got the They got a bunch of different really really high-tier uh options out there.
1:00:06
Um Cadillac introduced the V1 concept like so.
1:00:12
>> Ben says still looks like a vacation rental.
1:00:17
>> Yeah, people want these and it hurts.
1:00:19
Uh Cadillac revealed the V1 concept.
1:00:22
It's a limited production model based on the LMDh race car. Uh it's powered by a 5.
1:00:27
5 L DOHC V8 and electric motor good for 830 combined horsepower.
1:00:31
Looks like a like a full full-on race car.
1:00:34
Um Cadillac's done this before with the CN, their hypercar prototype that they never released.
1:00:40
Uh would be very cool to see them make a uh a road-going version of this like the Valkyrie, but uh feels like a big stretch for the brand and the company, right?
1:00:50
Um I would be surprised if we if we see this uh make the make the rounds, but people are people are excited about it.
1:00:57
I mean, the 01 X was a big moment for the American car makers in the uh in the the supercar market, and so you know, there are uh there's a chance.
1:01:08
There's a chance this comes out, we'll say.
1:01:11
Um in other news, let me tell you about Shopify.
1:01:13
Shopify is the commerce platform that grows with your business.
1:01:16
It lets you sell in seconds online, in store, on mobile, on social, on marketplaces, and now with AI agents.
1:01:21
Did you know, Jordy, it's now cheaper to buy It's now cheaper to buy a private island than a house in Palo Alto. >> Finally. >> This is crazy.
1:01:31
>> waiting for these lines to cross. >> Yeah.
1:01:33
No, it's actually cheaper to buy a private island than a house in Palo Alto.
1:01:36
Earlier this week Chris Backe uh highlighted a real estate listing for a five bedroom, five bathroom, 5,000 square foot home in Palo Alto asking $16. 5 million.
1:01:46
We got to pull up a picture of this thing because it doesn't look like a $16 million house and I think that's why this image from Chris Backe went so viral because it specifically looks just like a normal house that might be a million dollars or three million dollars, but in fact >> share it in the chat? >> Where is it?
1:02:07
Let me see if I can pull this up. Do we not uh this?
1:02:08
Let me put Let me put this up. Um Here we go. Boom. Or here. >> Here it is. >> go.
1:02:19
Um And so, I mean, 5,500 square feet, that's a lot and Palo Alto is obviously on an absolute tear on the back of the AI boom, but $16.
1:02:26
5 million is a lot of money and uh you can get a private island >> for this shape.
1:02:36
>> Yeah, it just looks like one normal house, please, to me. Right?
1:02:41
>> One starter home, please.
1:02:43
>> I even though it's very clear that there's a lot of stuff going on in the back, obviously, from the front, the silhouette doesn't look like a 5,000 square foot house, um but clearly that extends and there's probably lots of land back there and all sorts of things, but uh when you're when you're bidding against Mark Zuckerberg, uh you got to pay a pretty penny.
1:02:59
Bay Area real estate has been expensive for a long long time. >> acre, too.
1:03:08
>> [screaming] >> Bay Area real estate has been expensive for a long time, but prices at the very top of the market have become especially eye-popping.
1:03:14
One factor is the enormous amount of new wealth being created by the AI boom as employees of at companies like OpenAI and Anthropic turn startup equity into fortunes and pour some of that money into local real estate.
1:03:25
The result is an absurd new benchmark for Silicon Valley house prices.
1:03:30
>> Ben is on his tear today.
1:03:30
He says, "Wow, there's a patio."
1:03:33
>> [laughter] >> No pool, but there's a patio.
1:03:37
>> For $16 million, no pool? >> On a quarter acre. >> That is that's crazy.
1:03:41
I wonder where this one will land. Uh >> No garage, either. >> Wait, no garage?
1:03:47
>> [laughter] >> At this at this price, it's like you like like you could actually be driving like a hypercar for like 10% of the house price, you know?
1:03:58
Like if you live in a if you live in a if you live in a $1.
1:04:01
6 million house and you drove a $50,000 car, no one would be like, "Oh, wow, that's so crazy." Right?
1:04:08
But if you live in a $16 million house and you drive a $500,000 car, people be like, "Okay, that kind of matches."
1:04:14
Except you pull up to this thing in a in a Rivolta or something [laughter] in a SF90 and people are like, "What?
1:04:20
You don't even have a garage to park it in."
1:04:22
Anyway, the result is an absurd new benchmark for Silicon Valley housing prices.
1:04:25
There are actual private islands around the world that cost less than a house in Palo Alto. In June, a 4.
1:04:31
5 acre private island on North Carolina's Lake Norman sold for $12. 5 million.
1:04:37
You can pull this one up.
1:04:42
>> The agent on the listing says it has unique feature, a glass-encased staircase. >> Okay.
1:04:48
>> see that much in a in a modern McMansion.
1:04:51
>> Which are you going with?
1:04:51
The the the Palo Alto home or this private island?
1:04:58
>> Chad is saying 16 mil turned it down.
1:05:01
Had to live there for this decade.
1:05:03
>> [laughter] >> The payment the payment calculator look, if you put 20% down, >> Yep.
1:05:11
you're only spending $105,000 a month. >> It's so much money. >> Yikes.
1:05:18
>> That's true golden handcuffs.
1:05:18
Uh so, uh this So, this 4.
1:05:21
5 acre private island in North Carolina sold for $12.
1:05:24
5 million and it includes a roughly 13,000 square foot mansion on it.
1:05:29
It was originally purchased in the '90s for $1. 5 million.
1:05:34
Um The Financial Times also reported in March on a 600 acre private island in Fiji listed for $12 million.
1:05:40
The That island comes with a six-bedroom residence built near its highest point with panoramic ocean views along with a library, barbecue area, and swimming pool.
1:05:50
There are also five beaches, staff quarters, and a deep water jetty.
1:05:53
This uh I got I'm going to put all these in there. Let's see.
1:05:58
Um This one is uh is pretty crazy.
1:06:01
Um There's only one image of this particular island estate, but the Financial Times was was on a tear.
1:06:08
They They They really uh reporting a bunch of these.
1:06:10
Uh if 600 acres for your private island is a little excessive, there's another option in Fiji.
1:06:14
Mansion Global reported in March that the founder of a cannabis company and his wife were selling Vatuvara, a 75 acre private island. That is so many acres.
1:06:26
Even 75 acres is so much.
1:06:26
For 15 million, still $1.
1:06:28
5 million less than the Palo Alto house.
1:06:30
So, if if you if you are in Palo Alto, you really got to negotiate for remote work cuz you could be working from Fiji.
1:06:38
The Vatuvara house includes several Olympic-size natural swimming holes and a 5,500 square foot main house built around open plan living spaces surrounded by walls of glass.
1:06:48
Its bedroom suites have outdoor bathrooms and private outdoor spaces overlooking the ocean and jungle.
1:06:55
And it's a fascinating story showing what went into building this compound.
1:07:01
Um we can scroll through some of these some of these images because uh this family really It seems like it was sort of a labor of love situation.
1:07:06
So, an Eclectic Travelogue had always been a top priority for the Walkers.
1:07:10
The Los Angeles-based family of four are self-styled globetrotters whose wanderlust meant they never vacationed in the same place twice. They never went back.
1:07:20
Vatuvara Island is a 75-acre drop in the Pacific Ocean at the northernmost tip of the Yasawa Island archipelago and north of Nadi International Airport.
1:07:28
It is so far to get to Fiji.
1:07:31
Um but people love it out there.
1:07:35
Uh we saw the island and even though there was nothing there, we just knew there was something really magical about this place and we had to go back.
1:07:41
So, we were sitting on a beach and saw this little island in the distance.
1:07:44
That sounds really weird.
1:07:46
>> [laughter] >> Uh we then got picked up by a local boat and taken there.
1:07:48
We went around the island and the locals said it had been deserted for a while.
1:07:51
After meeting with the local elders of the tribe to discuss the finer points of the purchase, the Walkers have purchased a leasehold and the project of a lifetime.
1:08:00
So, uh a lot of these uh different countries and and island nations, they won't actually sell you the property.
1:08:06
What they'll do is they'll sell you uh a lease for a hundred or 85 years.
1:08:10
Like so, it's within your lifetime, but then it eventually goes back to the to the to the government.
1:08:15
Um "It was like a boyhood dream," Barry said today, "that pristine parcel is home to a luxurious hideaway built with a modern Malibu aesthetic uh crafted by Danish architect, constructed by >> [laughter] >> Australian builder, and curated by California family.
1:08:29
The project took approximately 5 years with a pandemic and the distance from home adding complexity."
1:08:34
And so, >> So, I've never done a proper trip to Fiji, but I did have a 18-hour layover there once on the way to Bali.
1:08:43
>> Do you count that as visiting Fiji? >> I count it >> Okay.
1:08:47
>> because I went I left the airport.
1:08:48
I got on a boat and I took it to a small relatively deserted island and I just hung out there for a few hours and then took the boat back.
1:09:00
And then went to the airport and left.
1:09:02
>> Do I have I don't think I have very nice on here. Nah, anyway.
1:09:05
Uh Tyler, you figured out the optimal route. Yeah, great success.
1:09:10
You you figured out the optimal route to visit every state, is that correct?
1:09:15
>> Yeah, so basically the idea well the rules we set is if you land in like a grassy area and you step out that counts as visiting the state. >> Yes.
1:09:24
>> So basically the optimal strategy if you want to hit every state >> Mhm.
1:09:27
>> is you basically land at the intersections of states. >> Okay.
1:09:30
>> So you only need to land 21 times to hit all 50, right?
1:09:33
So in the lower 48 it's only 19 times. >> Okay.
1:09:36
>> Um but you can hit these kind of like tri-point areas, right?
1:09:37
You can think of um there's kind of the the quadrant in the southwest.
1:09:41
You can hit four states at once. >> Yeah.
1:09:44
>> And um you can do it presumably within an hour or sorry, within 24 hours. >> Within 24 hours? >> Yeah, yeah.
1:09:50
>> But you have to go to Alaska and Hawaii.
1:09:52
So this is just lower 48? >> No, no. This is all 24.
1:09:55
>> You can Well, you but you would need a plane that can fly at the speed of sound but also land or like near the speed of sound.
1:10:00
Like you can't do it in like a Cessna.
1:10:02
You must you have to do it in like a Gulfstream but then you also have to be able to land in a cornfield basically.
1:10:09
>> You can use like a normal slightly larger plane than like a private plane. >> Okay.
1:10:15
>> But you don't need that like insane >> of plane are you are you landing in a cornfield but also making it to Alaska in >> Tyler, Tyler, would you be willing to attempt this route >> [laughter] >> with your current plan because right now it feels like >> You're showing a lot of confidence, buddy.
1:10:31
>> Yeah, Trace says the Pilatus PC-12 has you covered.
1:10:34
Pilatus PC-12 is not probably fast enough to actually break a record but the PC-24 is the is is sort of the the cousin of the PC-12 that is an actual jet that will let you land on dirt runways.
1:10:47
And so I think that the PC-24 >> Yeah, you might want >> is is what I had as well.
1:10:56
Pilatus PC-12 you said big it it's it's not even it's like a relatively modest plane.
1:11:00
You can't even cross the Atlantic with it.
1:11:05
You were saying it was a bigger plane.
1:11:07
>> Well, you know, relatively.
1:11:09
>> [laughter] >> Pure slot.
1:11:12
>> Um >> Let me tell you about >> You got to You got to You got to work on this plan. >> Their business is AI.
1:11:16
Their business is securing it.
1:11:18
CrowdStrike secures AI AND STOPS BREACHES.
1:11:22
>> YOU'RE STARTING in Maine and you're ending in Hawaii. >> Okay.
1:11:25
So, you go from basically like Washington to >> You're kind of going >> But you're going in the Pacific Northwest last, then Alaska, then down to Hawaii.
1:11:35
>> You're basically starting you're going directly south.
1:11:36
So, you're hitting all each >> Brian says you need to hire a a pilot from Sinaloa. >> True. True.
1:11:44
>> I think you're going to run into a lot of trouble.
1:11:45
I think you'll probably get arrested the first time you land in a cornfield in the intersection of three states and they wonder what you're doing.
1:11:52
Uh >> I don't think with Tyler's plan I don't think there'll be enough be enough time to >> got to take that out first. >> Yeah.
1:11:58
I figured since that's the plan. >> land on the corner?
1:12:00
Cuz a lot of these a lot of these corner intersections are like tourist traps where they have like a a sign on the ground like you're currently standing on four states at once.
1:12:09
Uh and you can't just land there and bulldoze all the all the tourists who are taking pictures.
1:12:13
That doesn't make any sense.
1:12:15
>> Well, I don't think we stated that before that that wasn't allowed. >> Misaligned.
1:12:18
This is misalignment right here. Terrible. Uh anyway.
1:12:22
Uh The good folks over at the Acquired.
1:12:25
fm Acquired podcast uh revealed a very interesting fact that we wanted to share here.
1:12:33
The highest-grossing piece of entertainment ever isn't Avatar, Avengers, Titanic.
1:12:41
>> Chad says stop hazing our zoomers.
1:12:44
>> Oh, we got more Gen Z's uh uh Gen Z hazing articles because there's a whole article in the New York Times about how Gen Z doesn't know how to dress.
1:12:53
They're just taking shots at Gen Z for acting like they've never worn clothes before or something is the headline. It's a very funny piece.
1:13:01
>> My uh we we was driving around with with my uh lovely wife yesterday and uh we passed like what looked like a group of high school boys and she said uh "Why do they all look like they're dressed like criminals?"
1:13:15
>> [laughter] >> Cuz they had They had these like big like glasses that like look like uh what something you might wear if you really didn't want people to know uh >> True unk status.
1:13:25
Why is Ben Macklin getting an American flag wrapped around him?
1:13:30
Is this just the style now?
1:13:32
>> This is my going away gift.
1:13:32
This is my Yeah, I'm going back.
1:13:34
I have to get a flag before I >> Okay, there you >> Wearing that on the flight? >> Yeah. >> The whole way. >> I love it. I love it.
1:13:41
Well, let me tell you about MongoDB.
1:13:43
What's the only thing faster than the AI market?
1:13:45
Your business on MongoDB.
1:13:45
Don't just build AI, own the data platform that powers it.
1:13:50
>> Ryan says if you can't haze Gen Z, why be unk? >> Good point. >> Good point. >> Okay, anyway.
1:13:55
So, the highest grossing piece of entertainment ever.
1:13:58
It's not Avatar, it's not Avengers, it's not Titanic, it's not Seinfeld, it's not even Grand Theft Auto.
1:14:05
It's The Lion King musical.
1:14:09
>> [screaming] >> It's The Lion King musical.
1:14:12
The Lion King musical is the highest grossing piece of media entertainment ever. Absolutely insane.
1:14:19
Since debuting on Broadway in November of 1997, Disney's stage adaptation has grossed more than 11 billion dollars worldwide, maybe more than 10 billion. It's a ton.
1:14:29
Uh it's the highest grossing stage production ever and by box office revenue, it's the highest grossing entertainment title in history.
1:14:37
Uh for comparison, Avatar is the highest grossing movie ever, has made only 3 billion dollars at the at the global book box office.
1:14:46
The Lion King passed the previous record holder, The Phantom of the Opera, all the way back in 2014 when its cumulative gross was already $6. 2 billion.
1:14:54
I had no idea there was so much money in Broadway.
1:14:58
So, the question everyone's asking how is this even possible?
1:15:00
Like, yeah, The Lion King musical, it's popular, but Avatar was like a cultural moment, everyone saw it.
1:15:05
But, it's because The Lion King musical is not just one show, it's much more complicated than that.
1:15:13
It's this entertainment machine.
1:15:15
>> So, since 1997 there have been >> a show, it's a machine? >> Basically. >> Wow.
1:15:19
>> It's it's 30 different productions around the world spanning more than 100 cities and 24 countries.
1:15:28
So, it's So, the show runs on Broadway, but also London's West End, Japan, Germany, Australia alongside North America, international touring productions.
1:15:38
So, you can see it in multiple places at the same time.
1:15:40
More than 127 million people have actually seen it.
1:15:46
And, unlike a movie, the same piece of entertainment can keep selling thousands of expensive tickets every night for decades.
1:15:51
So, the broad the Broadway production alone performs eight times a week.
1:15:56
In one week this June it sold 12,670 tickets, grossed 1.
1:15:58
94 million from a single theater.
1:16:02
And then you scale that model across multiple productions operating simultaneously.
1:16:07
>> And are all these productions paying royalties back to Disney? >> Yeah. Yeah.
1:16:12
>> So, you're thinking what I'm thinking?
1:16:13
>> What are you thinking?
1:16:14
>> Drive Eternal comes in.
1:16:17
>> [laughter] >> They then spin out The Lion King IP.
1:16:19
>> Seems like a good idea. >> Yeah.
1:16:21
>> Gats gets a piece back. >> Yeah. So, 75 bucks a ticket.
1:16:24
>> Then they Then, like Gabe says, then they take it public. >> Maybe. Maybe.
1:16:27
I think this is like core to the to the to the Disney IP strategy.
1:16:33
Like, they they they have other Broadway productions already in the works, already in production, and will have many more as different pieces of intellectual property take take flight and actually find their footing.
1:16:45
Of course, not everything's going to be as much of a smash success as The Lion King has been, but it's it's crazy.
1:16:50
It's a 29-year run selling $75 tickets on average every night across the globe for 30 years almost, which is crazy.
1:17:02
And so, you can take the same story, perform it eight times a week, duplicate the production around the planet, and keep doing it for an entire generation.
1:17:09
Do that successfully for 3 days and you can make more money at the box office than any movie ever made.
1:17:13
I was always thinking that someone would do this for music.
1:17:16
Sort of like you'd need to set up the musical act as as a as a multi-stage production, but you know, Deadmau5 performs with a with a helmet.
1:17:28
Deadmau5, the EDM artist. >> Deadmau5? >> Deadmau5, yes.
1:17:32
So, when Deadmau5 performs, he is there in person, the actual artist, and he's wearing a a helmet.
1:17:42
So, you don't know that it's him, and of course, you have you trust that it's him because he doesn't perform in multiple places at the same time.
1:17:49
Same thing with Tiësto, but there are other other artists that have donned the helmets.
1:17:54
I think Marshmello is one.
1:17:57
There's a few others that do this sort of thing.
1:17:58
Even go back to Slipknot. >> Punk. >> Daft Punk, exactly.
1:18:01
But, if you could start a musical act that by that embraced the idea that it could be in multiple places at the same time, it could effectively have multiple residencies.
1:18:10
So, the the the artist, even though it was multiple people, could be be could be performing in New York and Las Vegas and Miami all at the same time, have residencies everywhere, and bring in way more revenue on top of the IP, and then the artist themselves doesn't need to travel.
1:18:28
Of course, that's like sort of sacrificing what it means to go to a Deadmau5 show, so you probably don't command as much of a premium, but it would be interesting to see if someone in the musical arts prize is doing >> this is just the Blue Man Group strategy.
1:18:42
It's not always the same Blue Man.
1:18:45
>> [laughter] >> Mind blown.
1:18:49
>> Yes, the Blue Man Group has changed over I don't know can are there any examples of the Blue Man Group performing in two different places at the exact same time with different Blue Men?
1:19:00
>> [laughter] >> I think that they have a single cast that rotates and they don't actually perform in multiple places at the same time, but that's the Blue Man Group V2 is is what I'm maybe hoping for.
1:19:13
Um >> [laughter] >> anyway, um what else is going on?
1:19:19
Uh the cursor deal closed that's a big story today although it's been announced several times that this was happening, but Michael Trow took to the timeline to announce that the deal has in fact closed Gwork is imminent Gwork work is coming they're doing it.
1:19:35
Um >> Uh is this a this is the largest acquisition of a venture-backed like private company?
1:19:42
>> Yes, and it must be probably the the highest IRR VC investment of all time maybe there's probably something shorter term that was like 1 month and then an acquisition, but it's certainly it's certainly is is close to that.
1:19:58
>> Previously the record was Wiz 32 billion Google. So nearly double. >> Mhm.
1:20:08
Um >> Um >> Yeah, Michael Trow said >> There is some some it is funny to think about uh just given the dynamic between Elon and and Sam uh OpenAI's startup fund believe was seed investor in >> Oh yeah, yeah, yeah.
1:20:24
>> Meaning that uh OpenAI probably >> now >> Yeah.
1:20:29
Um but absolutely incredible outcome and I think already people are realizing just how much how necessary it is for SpaceX's hopes at the application point.
1:20:43
>> Okay, Michael Truel, one of the greatest zoomers to ever do it. >> Truly.
1:20:47
>> to give him you got to give him credit.
1:20:49
You got to give credit to all of Gen Z for putting up amazing numbers, but you also got to take some shots at Gen Z because apparently snack companies are coating everything in pickle flavor for Gen Z. Is this true? Do you like pickles?
1:21:04
>> I wouldn't say I'm a big pickle guy. >> Okay.
1:21:07
>> but >> Well, apparently snack companies think you are because there's a deluge of sour briny snacks that have infiltrated the market and apparently it's your fault, Tyler.
1:21:16
Pickle flavored pickle flavored ramen, pickle flavored beer, pickle flavored Sauvignon Blanc wine. Pickle zested ice cream.
1:21:25
A certain pro flavor profile is exploding. It's sour. It's briny.
1:21:31
It's huge on social media and it's coating everything in its path, says The Wall Street Journal.
1:21:37
Uh we're we're in we're just in a golden era for pickle flavoring, said the vice president of the fresh food group at Never in my life would I imagine cotton candy with pickles.
1:21:48
>> When you were a kid, did you ever take a little sip of the >> the juice? The pickle juice? Mm, not really. >> No, I did.
1:21:56
>> Like just once to experience or was it or was it like a daily thing?
1:21:58
You you you would enjoy it. >> Here or there.
1:22:01
>> I I like a pickle, but I don't know that the juice I can pass on.
1:22:06
I'm not I'm not a big >> Yeah, anytime I meet people that are seemingly super into pickles, I just assume they haven't they don't realize they can put salt a lot of salt on anything.
1:22:14
>> Oh, you think it's like a vehicle for delivering salt?
1:22:16
>> it's like a >> Yeah, you're just maybe sodium deficient or craving some sodium and you want an excuse and a pickle is just a way to get your salt fix. >> Yeah, it's a vehicle. >> Okay.
1:22:25
Well, people certainly associate the flavor with saltiness, so it's going all over the place.
1:22:29
In the last few years, nearly every snack food giant and retailer has piled on the trend and for good reason.
1:22:35
Pickle flavored items are flying off the shelves.
1:22:37
According to data from Circana, pickle flavored snacks grew 30% in sales over the past year compared with 3.
1:22:44
8% growth in the snack category overall.
1:22:47
The same category The same goes for categories that don't seem traditionally fermentation forward.
1:22:53
Pickle flavored trail mix grew by 10% as opposed to 4% for the general category.
1:22:59
But, some of this growth may come from an influx of new pickle flavor That is a crazy crazy item.
1:23:09
Um Whole Foods began selling Daily Crunch Dill Pickle Sprouted Almonds in 2024 and within a year and a half the product saw an 812% growth.
1:23:19
Uh the Foundation Lab numbers >> pickled car in NASCAR. >> Okay.
1:23:25
>> That is a car to follow.
1:23:27
>> PepsiCo released Flamin' Hot Dill Pickle Cheetos in 2025 and made them a permanent permanent offering this year after the company said it became the fastest-selling limited-edition flavor in the brand's history.
1:23:39
Retailers say one group is fueling the trend, a cohort they're most eager to capture. Gen Z.
1:23:46
Last year Last summer, Hormel Foods, the company behind Spam and Skippy Peanut Butter, cited Gen Z the ultimate target market for snack brands as the inspiration behind the launch of three dill pickle products.
1:23:57
Dill pickle corn nuts, dill pickle cashews, and dill pickle flavored Hormel pepperoni.
1:24:05
This is too much dill pickle.
1:24:05
I I can't I can't [clears throat] say pickle anymore.
1:24:08
It's It's really getting on my nerves.
1:24:09
Let's move on to Alex Cooper.
1:24:12
Alex Cooper raising a ton of money, podcast is doing well, media company is doing well.
1:24:17
Uh her beverage brand is doing unwell.
1:24:18
The brand unwell ceased operations, uh announced its winding down a day after unwell's media business took investment at a $500 million valuation.
1:24:30
Should not be a surprise.
1:24:30
Clearly new money coming in, new strategy, focus, content. Maybe. Maybe.
1:24:37
>> Um but Andrea took a victory lap 2 years ago.
1:24:40
She posted unwell by Alex Cooper Prime but for the hotties.
1:24:42
How much time do we give this brand before it inevitably flops and goes on the chopping block?
1:24:48
2 years it seems is what wound up happening.
1:24:51
Um it was a Maybe they [clears throat] just didn't get the right team in there.
1:24:54
Uh it does seem like it's hard because you only have so much ad inventory.
1:24:58
And if you're running the Call Her Daddy podcast and you're getting a lot of impressions, uh if there is someone like you could promote your product, but every time you do, you're not promoting another product that might pay you a higher CPM, might be able to monetize those listeners better.
1:25:17
And so uh you have this tension between, okay, well, there might be a VPN company or a credit card company or all sorts of different companies that might want to come in and pay, you know, a million dollars for a sponsorship with uh with Call Her Daddy.
1:25:33
And are you going to be able to move a million dollars, not just a million dollars of prof- of product, but a million dollars worth of product to justify the profits?
1:25:42
So, will the LTV that you generate from uh running those ads that you're taking off the off the inventory stack actually math out?
1:25:49
I think a lot of influencers wind up with that.
1:25:51
They think they have unlimited resources. They don't.
1:25:55
>> Yeah, it's interesting branding challenge to have unwell >> Yep.
1:26:00
>> uh as the brand of the drink.
1:26:00
Not not not the best association. >> Yeah. I think you're right.
1:26:05
There's something like subliminal.
1:26:07
Like what I was picking up on with the obsession remix video where I just come away a little bit unsettled uh seeing a brand name unwell in my face, it's just going to stick in my brain a little bit. But, oh, well. We'll see where it goes.
1:26:22
It feels like she's doubling down on media, uh TV shows, potentially movie studio, uh other podcasts.
1:26:29
There's a lot of other things that are going there that are uh clearly can be focused in the line of what uh the Unwell Network does well.
1:26:38
So, uh we'll see where it all goes.
1:26:40
Let me tell you about the New York Stock Exchange.
1:26:44
>> Want to show you the world raise capital at the New York Stock Exchange.
1:26:48
>> So, the New York Times put out a hit piece on Gen Z'ers.
1:26:50
Says, "Gen Z'ers dress like they've never worn clothes before."
1:26:55
"Time was, if you wanted to know what people's deal was, you read their clothes."
1:27:00
Says, "A young man working in a then popular street fashion magazine, I used to relish taxonomizing people by what they had on.
1:27:10
I could tell you had I could tell you at a glance what kind of music they listened to, whether they worked, what they'd be like in bed, what sort of beer they would drink, all from the cut of their pant leg, or the razor guard number on their haircut."
1:27:25
"Fleece jacket, pullover, white ball cap pulled down way too far over the eyes, that's a jock.
1:27:29
Torn up gray hoodie over enormous jeans whose cuffs are soaking up puddle water, that person smokes weed.
1:27:36
Same hoodie, but sleeves pushed up past the elbows, watch out, that's the universal signify for meth.
1:27:43
These days >> [laughter] >> This person is really judgemental.
1:27:46
Uh these days, I'm a middle-aged man who works the door at a bar in Chicago that is reasonably popular with the youths that I'm a routinely flummoxed by the sartorial flotsam that comes packing itself in.
1:27:57
The other night, a guy came >> Is not Is this not overall the just the one of the oldest sort of stories of all time, which is like old person says that young kids >> Old man yells at clouds.
1:28:11
>> Yeah, this is old man Yeah, it's a good point. It's a good point. But I don't know.
1:28:16
I just wanted to take another shot at Gen Z.
1:28:19
>> [laughter] [gasps] >> I mean I do I do think it's I do think it's funny that Tyler dresses like the like 2016 kind of like frat style like boat shoes.
1:28:35
I mean he looks sharp every day but um uh but yeah you guys missed put the shoes up on the desk.
1:28:43
>> [laughter] >> Let's get the shoes up on the desk. Throw them up. It's Friday.
1:28:48
Let's get a side profile of the shoes the Sperry's. Yeah.
1:28:53
>> [applause] >> Sperry month.
1:28:56
>> [laughter] >> All right, that's enough of that.
1:29:02
Uh next intern challenge get into Caltech.
1:29:07
Cuz they have a fraud squad. This is the red team.
1:29:09
We need the red team their fraud squad.
1:29:10
The fraud squad at Caltech will catch you if you lie on your application.
1:29:14
>> They're saying make America preppy again. >> Yeah.
1:29:18
>> I think that you could be early to a new prep super cycle. A Sperry super cycle. >> Super cycle.
1:29:27
This is the funniest thing.
1:29:27
College investigators vet every admitted students applications as schools nationwide battle AI fueled cheating.
1:29:33
So now we got to put it to the test.
1:29:37
Can you cheat your way through a PhD at Caltech Tyler?
1:29:41
I want to see if you can do it at the California Institute of Technology. >> challenge accepted.
1:29:47
[laughter] >> Yeah, 100% a little known band of admissions >> New benchmark for Cluey for sure.
1:29:52
Uh scrutinizing the fonts on science fair certificates checking addresses on high school transcript and analyzing signatures on awards known as the fraud squad.
1:30:03
These investigators in char- are in charge of vetting applications to the highly selective STEM focused school which admitted less than 4% of its 11,000 applicants for the incoming class.
1:30:14
Caltech created the team 2 years ago partly in response to a rising number of anonymous accusations of dishonest applications.
1:30:23
The four-person [snorts] team inspects every submitted every admitted students applications taking nothing from granted nothing for granted.
1:30:29
They scour the internet to confirm obscurities, contact competition officials and high school counselors and use a video interview program to suss out students research claims.
1:30:39
As elite colleges as such as Caltech uh at elite colleges such as Caltech admissions have become more competitive and and applications are increasingly complex.
1:30:51
Some requests some requests long list of accolades research competitions awards independent projects that colleges can find harder to verify than grades and test scores.
1:31:01
At the same time technology like AI makes it easier to falsify submissions and for young people the stakes often feel higher than ever.
1:31:10
"I don't think everyone's lying."
1:31:10
said Nick Lee, senior assistant director for undergrad admissions and a fraud squad member, "but I can't let a small portion of the pool of our admits ruin all the greatness in the other percentage.
1:31:20
Can't let one a- bad apple spoil the bunch I think is the phrase.
1:31:26
Many schools review applications for accuracy but tend to dig deeper only when something seems off such as if a student's essay mentions an award-winning robotics team but the recommendation letters don't.
1:31:38
So they're looking for needles in haystacks. Interesting.
1:31:42
Do you think you could do it?
1:31:43
Do you think this is fraud proof, Tyler?
1:31:46
Or you think you >> I mean there's like a lot of >> [laughter] >> Still on the shoes. Still on the shoes.
1:31:53
>> I think there's a lot of things like it seems like the the solution here is you just only do the SAT like that's the only thing >> Oh yeah. >> Yeah, yeah, yeah.
1:32:00
basically get rid of all of these like fishy research things.
1:32:03
You know, you hear about like some stories where it's like they had their first research paper when they were like 11 years old.
1:32:07
It's like clearly >> Yeah. >> very fake.
1:32:10
>> Just like the parents doing it or the AI doing it or something. I don't know. Yeah. Tricky.
1:32:16
Nothing like the IMO to separate the wheat from the chaff.
1:32:19
Well, over at Thrive, there's a big scoop from Natasha over Now, >> Natasha's been on its hair.
1:32:29
>> She's a Bloomberg Technology.
1:32:31
Um Thrive has invested $250 million in Amazon according to a securities filing as the firm expands its public market strategy to back some of the world's largest companies benefiting from AI.
1:32:40
I didn't realize that Thrive had this significant of a public book.
1:32:44
I mean, I guess some of this was probably SpaceX pre-IPO that shifted over to the public book, but >> Well, I think this is uh part of a like new focus. >> Sure. Sure.
1:32:55
Uh so, Thrive Capital at the end of Q2 owned $3.
1:32:59
2 billion with a SpaceX, $250 million of Amazon.
1:33:03
They still got some Oscar Health, 180 million of that.
1:33:08
They own Shopify and Figma.
1:33:11
Um they trimmed Carvana and StubHub, um but are still long lots of stuff in the public markets.
1:33:17
Um anyway, what else is in the timeline that we >> Another news, Jeff Bezos bets on sports with Liverpool deal.
1:33:26
Billionaire to become a part owner of the Premier League team valued at more than 7 billion. >> Another one.
1:33:35
>> Uh The billionaire founder of Amazon is among a group of investors that agreed Friday to buy a minority stake in Liverpool Football.
1:33:43
The consortium is acquiring about a 33% stake in Liverpool Liverpool in a deal that values the Premier League team at more than 7 billion.
1:33:54
Uh the deal is the The example of the enduring appeal of top professional sports teams from the world's wealthiest The consortium buying a stake in Liverpool is led by Amit Bhatia, son-in-law of Indian steel tycoon.
1:34:06
Let's give it up for tycoons.
1:34:10
One of the best One of the best words One of the most underrated words, tycoon.
1:34:14
Trying to bring that back. >> Very aspirational.
1:34:16
You know you've made it when you're a tycoon.
1:34:19
>> Bezos is participating in the deal through K5 Global. >> Yeah.
1:34:24
>> A firm that did not have >> Tycoon has got to be above billionaire.
1:34:28
Cuz there's plenty of people that they start a company, they get lucky, they sell it at the top.
1:34:32
>> would say that Michael and Brian, GPs over K5, are are emerging tycoons. >> so.
1:34:37
>> I think they're on the path to being tycoons. >> so.
1:34:40
>> Would you rather be a tycoon or a magnate? >> Ooh. Probably tycoon. >> magnate's underrated. >> Magnate is.
1:34:46
But magnate >> Tycoon is more aura.
1:34:49
>> Yeah, tycoon feels like you really control the industry.
1:34:51
Magnate feels a little bit like could be scion adjacent potentially.
1:34:59
You know, might just be might just be important, but one of many.
1:35:01
Tycoon is singular, little more little more singular in its dominance of the industry. I like a tycoon. Anyway.
1:35:10
Uh >> CRM tycoon, Marc Benioff, hit the timeline with a question.
1:35:14
Should Salesforce rebrand as Salesforce Slack to capture its AI era power in bots, coding, and such. >> this video.
1:35:22
Cuz this video is sure to fire you up. >> Okay, let's do it. Salesforce Slack.
1:35:29
That's a bit of a mouthful. Let's say Salesforce.
1:35:34
One of the greatest names ever, Salesforce. Forceful. I love Salesforce.
1:35:39
They do a lot more than sales, though.
1:35:41
And a lot of people use Slack.
1:35:44
So which way we're going? Okay. Ooh, good license.
1:36:00
>> Ooh, some good brand exploration. Wait. Put them on the tower. Put them on the tower. Let's do it. >> it.
1:36:09
>> [screaming] >> Something going to happen? Ooh. >> Okay.
1:36:13
>> He put them on the tower. >> We did. He already did? >> Okay.
1:36:17
I can't tell if it's VFX or not. Salesforce Slack. Salesforce Slack.
1:36:24
>> Yeah, so interesting response.
1:36:26
Currently, 68% of the voters say no. >> Yeah.
1:36:29
>> They're rejecting Salesforce Slack. >> Yeah. >> Uh it is a mouthful.
1:36:32
I do think Salesforce is iconic.
1:36:34
I understand Mark's position, right?
1:36:37
He's battling >> Why not >> narrative. >> Yep.
1:36:41
>> Uh Slack is uh no one's been sitting there saying, you know, we're going to move off uh Slack.
1:36:48
>> No intern has ever tried to vibe code Slack here.
1:36:52
>> [laughter] >> Yeah, it is funny.
1:36:52
You can you can one shot a version of Slack.
1:36:57
>> But adoption was tricky. High churn.
1:36:59
[snorts] We didn't use it. It It looked like Slack.
1:37:01
We We tried to vibe code Slack.
1:37:03
And the product looked really good.
1:37:05
It even added video calling, which was sort of crazy functionality.
1:37:07
It certainly there >> Sebastian says that Jordy does not remembering Metallica songs in front of Mark keep you awake. >> Yeah. >> Yeah.
1:37:15
>> Um why not Slackforce?
1:37:15
Why not just call it Slackforce? Is that bad?
1:37:21
Am I onto something or no? Slackforce.
1:37:25
Less wordy than Salesforce Slack.
1:37:28
But it hits both Slack and Salesforce. Still forceful. Yes? No?
1:37:36
If you had to pick, Salesforce Slack or Slackforce, which one you going with? >> Slackforce.
1:37:41
>> Yeah, Slackforce vote over there.
1:37:43
>> What about just the San Francisco Slackers?
1:37:46
>> [laughter] >> The San Francisco Slackers? What about just force. com? >> What about s. com? >> S? >> Salesforce. >> Nah. >> And Slack. The one-letter domain?
1:37:59
>> I like just going force. Just force.
1:38:03
>> Force would be a great name for a workplace messaging tool. >> Yeah. Force. It's on force. It's on Bebo.
1:38:12
Check Did you check force?
1:38:15
>> [laughter] >> I sent you a message on force.
1:38:17
>> How did you get that project done? I forced it.
1:38:19
I forced it down the throats of my employees. I was forceful.
1:38:23
You're being a little forceful right now.
1:38:24
Little bit too many messages on force.
1:38:28
>> Yeah, it's interesting.
1:38:28
I mean, best estimate of Slack's current revenue is in the two two two and a half billion dollar range.
1:38:38
Salesforce overall revenue is north of 40, right?
1:38:41
Still a not a huge amount of the revenue.
1:38:44
Um, but clearly, you know, that video they've done a lot of exploration.
1:38:50
>> they're they're thinking about it.
1:38:52
>> They're thinking about it.
1:38:53
>> So, between, final answer, between Salesforce, keep it classic, force, force.
1:38:58
com, Salesforce Slack, and Slack force, which one are you going with? >> Salesforce.
1:39:09
>> You Oh, you're staying with Salesforce. What about you, Tyler? >> I like Slack force. >> You like Slack force?
1:39:13
>> I think Salesforce Slack is the worst of all of those. >> Okay. Okay.
1:39:15
You would rank that the last.
1:39:17
>> that I think that Salesforce is an I is is an iconic brand that's waiting to be revitalized.
1:39:24
I think some of the marketing historically has just been uh somewhat uh I'm not going to say it uh boomer coded. Said it.
1:39:36
Um, like just the random just the random like Matthew McConaughey being, you know, >> Iconic.
1:39:42
>> He's He's iconic, but I think that there's more that they can do to >> when I see it when I see when I Yeah, when I see Matthew McConaughey in a Salesforce ad, I do think I need to buy a Lincoln Navigator.
1:39:57
Which is maybe like a bad sign.
1:39:59
>> Oh, yeah, cuz he's also >> Yeah, he has that amazing Lincoln where he's driving giving the talk. Such a good ad.
1:40:04
And that one was such a good ad that it was parodied in that in SNL by Jim Carrey, I believe.
1:40:09
And so it had a whole like meta story to it. It really broke through.
1:40:13
>> And so I think what you're getting at is they need to get, you know, a Timothée Chalamet or Jacob Elordi to be the new face, someone a Zoomer actor.
1:40:23
>> Zoomer actor would be good. Uh fifth option.
1:40:26
What if he rebrands the whole thing to just Benioff and Co? >> I like that.
1:40:31
>> Would that be your top? >> Buy Benioff. >> Benioff. Benioff and Co.
1:40:35
>> Software solutions you can depend on.
1:40:37
>> He's a singular founder CEO, you know, he's not a hired gun, he's not going anywhere.
1:40:41
It's his one major project.
1:40:41
He doesn't have other companies.
1:40:45
>> point, they just had Mr.
1:40:45
Beast do a commercial though, according to Jay.
1:40:50
Uh yeah, the the challenge is like that that commercial I don't I don't know any people that that unironically watch Mr.
1:40:58
Beast that buy enterprise software.
1:41:03
>> Yeah, that's the thing.
1:41:04
>> felt like super random.
1:41:04
It didn't feel like >> watch Mr.
1:41:07
Beast, but as a student of the craft of YouTube video creation. >> Yes.
1:41:12
>> And I will be like, "Wow, okay. How is he using CGI? How is he editing?
1:41:14
How is >> Yeah, but but the the majority of the majority of the audience are not sitting there saying, "Oh, Mr.
1:41:21
Beast, I got to use Salesforce CRM because Mr. Beast promoted it." >> Yeah.
1:41:28
>> They're not thinking about CRMs.
1:41:30
>> There's a little bit of like I guess if you get people really young and they get to work and they're in Slack, they have a positive connotation, they go and start companies and they start with Slack and then they grow from there, but that's a long run.
1:41:42
>> says Salesforce by Benioff.
1:41:45
>> [laughter] >> Yeah, Benioff >> Sales by Benioff.
1:41:49
>> Sales by Benioff, high fashion, >> [laughter] >> like Marc Jacobs. >> Marc by Benioff.
1:41:54
>> Marc by Marc by Marc Benioff.
1:41:56
>> [laughter] >> Slack by Marc Benioff.
1:41:58
You can't even say the company.
1:42:00
Yeah, I would not give up I I Salesforce I still think Salesforce is a great name.
1:42:05
>> [snorts and laughter] >> Anyway, uh Okay, so let's go to Mitchell Hashimoto, founder of Hashi HashiCorp.
1:42:12
Uh he says "It's so incredible I'm so incredibly tired of seeing low effort AI designed web pages.
1:42:20
I basically bounce off any new product immediately when I see it, never get a chance to judge the product itself.
1:42:25
Lots of thin lines, glowy styles, inconsistent fonts, lots of monospace, you know who you are."
1:42:33
>> And Jordan Singer says, "This is an instant sign that I won't want to use your product.
1:42:36
If you can't take the time to craft something that should sell me, I can't trust that you took the time for the rest of the product." Interesting.
1:42:45
What do you think about slop pages?
1:42:45
I think the AI designed web pages are best when it's part of the point.
1:42:54
Like it's it's it's like it's specifically like a product that would never exist without slop generation and so it's like you made a whole interactive video game for your friends.
1:43:09
>> and still implement it quickly using AI, but if you just just try to one shot it, then >> Yeah. >> It's low effort.
1:43:18
>> It's the same thing with like uh the the the Suno story of like I'm not really listening to like actual heavy metal generated by Suno, but give me a song about John Quinn, the most feared lawyer from Quinn Emanuel, that's heavy metal, I'm in.
1:43:33
And I actually am listening to that song, but only because it can only exist in the context of the AI.
1:43:40
>> Tetris says, depends on who you're selling to.
1:43:41
99% of the time ugly sites perform better.
1:43:45
Uh good point, but I would say that these AI generated websites are trying to look like super beautiful, interactive.
1:43:54
I would actually like I'm you know, the the the AI website that you generated a a Berkshire. >> Mhm.
1:44:03
>> Uh you generated like a clone of Berkshire, um that probably would perform well. >> Yeah.
1:44:09
>> If you >> It also would have taken like 5 minutes to hand code because it's such a simple website, but uh it was fun and it was my first introduction to like vibe coding like a front-end website and based on a style guide.
1:44:20
Um I've since gone on and built other uh vibe coded websites and uh I don't try and act like they're not vibe coded.
1:44:28
Like they lean into the idea of uh of the fact that this is a website that would never exist in reality and only makes sense as a as a vibe coded product.
1:44:38
Um speaking of vibe coded products, if you vibe coded a product and you're trying to launch it, don't use another AI company's >> phone farm. >> Phone farm?
1:44:50
>> There's Oh, is that what you're I thought that's what you >> No, I was talking about this post where someone tried to introduce uh like Claude for marketing and they're clearly using the Claude trademark against Anthropic's >> But what what what I'm saying >> Don't do that.
1:45:01
>> No, I I mean part of why I think it was maybe deleted is it they delete the video was deleted now, but this was a video of a company that made basically a robot that you put over a real phone and it's an undetectable way to drive engagement online. >> Uh >> Yeah.
1:45:21
>> using using phone farms, basically. >> Yeah, yeah, yeah.
1:45:24
>> Uh so this company is called phone farm . ai is the website.
1:45:30
Uh, and they say run unlimited accounts on autopilot.
1:45:34
Post 10,000 videos a day.
1:45:37
So if you're a creator out there, you're trying to put out a 10,000 videos, really trying to um, you know, get your reps in.
1:45:44
You could just do that in a day.
1:45:46
You don't need to spend years honing your craft or anything like that.
1:45:50
You could just do it all at once.
1:45:52
Um, but yeah, it does seem Uh, yeah, it's so funny the way they sell this.
1:45:57
Viral content manufactured.
1:46:00
Um, this has been going on a ton with uh, launch videos where you'll see a launch video that that just has, you know, thousand, like a thousand uh, reposts and there's not really any real engagement. >> Mhm.
1:46:15
>> So I don't think this stuff works and you're not really tricking anyone except other bots. >> Mhm. >> Uh, here's the video. Let's pull it up. >> Let's see. >> It's coming. >> Cell phone. Uh, that's a good one. >> Yeah, here we go. Look at this, John. >> Okay.
1:46:34
And is this a device that you can buy?
1:46:38
Or is this a service that you pay them to do?
1:46:41
>> I Sounds like you can get it a cloud version of it, but you can also >> Sounds like they'll also sell you the robot.
1:46:48
>> This is the dead internet thesis now.
1:46:48
Is that just dead internet dead internet theory?
1:46:52
It's how do we make money off of this?
1:46:57
Is there any good use of this technology? What is the white pill?
1:47:06
Uh, it seems extremely adversarial.
1:47:06
The best I can come up with was be as a joke sending you a thousand positive comments on your last Instagram post or something and you're just like, why is this going viral but even that is likely to sort of nuke your account when it's discovered that you're followed by bots and stuff. >> reality. >> Yeah.
1:47:31
>> Cooper, no white pills tonight.
1:47:32
>> [laughter] >> We're trying, buddy. We're trying here. We're doing our best.
1:47:36
Um testing testing quality assurance testing If you are Instagram, you want to run your app across a bunch of different devices for a very long time and see if there's a memory leak having a bunch of phones in the cloud makes sense.
1:47:54
So, testing testing is is the is the only viable white pill here maybe? I don't know.
1:48:01
Can you come up with that one? No. Yeah. I don't know. >> Yeah, rough. >> Rough. Anyway.
1:48:11
Uh speaking of cell phones >> Just do make make great things.
1:48:14
Do make content that's interesting. >> Yeah.
1:48:19
>> And uh you'll get real attention. >> This is a good post.
1:48:22
>> thing with The funny thing with Yeah, the funny thing with uh like people are very immune to this stuff right now.
1:48:27
So, if they see a product launch and it has 5,000 likes and 1,000 reposts, they're still a human.
1:48:34
If they maybe it makes them like engage more for a second with the content because in their feed, they're like what is this?
1:48:42
But the thing still has to be great. >> Mhm.
1:48:46
>> And if you make something great, you'll just naturally get the attention as a byproduct. >> Good point.
1:48:52
Uh well, this is a good post to close on.
1:48:54
cell phone self own They played us for absolute fools. What did they mean?
1:49:01
>> anger >> What did they mean by calling the cell phone so close to self own? Uh No. Have a great weekend.
1:49:08
Have a great rest of your Friday. Have a great 2 weeks. We're taking a vacation.
1:49:13
We will be back in September, everyone. We'll play the wah wah.
1:49:19
>> [laughter] [clears throat] >> Uh no, we we uh the the end of August, we are taking a 2-week break from the show.
1:49:28
We'll be back >> in September.
1:49:30
We have a whole bunch of crazy stuff lined up for the new season.
1:49:34
We're very excited for that.
1:49:34
We will be back in September.
1:49:39
So, sign up for our newsletter, leave us five stars on Apple Podcast and Spotify.
1:49:42
Say goodbye to Ben Macklin.
1:49:44
Uh he's so sad to see us go.
1:49:47
>> And we will [applause] be back in the fall for fall for fall >> Yeah, I know.
1:49:53
It it it's um >> Very euro-coded of us.
1:49:56
>> Yeah, it's uh it's it's We don't enjoy We don't enjoy taking time off around here. Uh we rarely do.
1:50:04
>> Uh but we think it's important to give uh the whole team a a proper uh break.
1:50:10
Uh this work is uh relentless. >> Yeah.
1:50:13
>> Uh you cannot You cannot rest on any laurels, even if you have a bunch of laurels at the office. >> Yeah.
1:50:18
>> You start resting on them, there's no show.
1:50:20
Uh and so we figured it'd be good to let uh let the whole team uh take take some time away.
1:50:28
And uh I can't wait to be back already.
1:50:31
We love We absolutely love what we do. >> Yeah, that's great.
1:50:34
>> And uh it's a blessing.
1:50:36
And counting down the days.
1:50:38
>> Counting down the days.
1:50:39
>> Just just just like how many more sleeps is it? >> Like 16, 17. >> Something like that. >> Something like that.
1:50:45
>> So, we'll be reminding the team every day.
1:50:48
Just 16 more sleeps, everybody. >> Have a good week.
1:50:50
Have a good next >> Yeah.
1:50:52
Enjoy the Enjoy the last couple weeks of like proper summer.
1:50:54
I feel like September comes around, it's over. >> It's over.
1:50:58
>> It's time to get back in the mines. >> We will be back. >> We'll see you soon. We love you guys. Cheers. >> September 1st.