welcome to technology Brothers the most profitable podcast in the world today we're breaking down the Ki drama with poly Market they uh we have an article here from Pirate wires Ki paid influencers to Target poly Market CEO after an FBI raid it is one of the most dramatic Tech stories I've seen in years tea time these two companies have been at each other's throats buying ads
duking it out in different parts of the App Store the the the the the byy line here the subheader is Ki funded influencers to imply its competitor poly market and CEO Shane copelan were engaged in illegal activity after the FBI raided his apartment per sources and screenshots we viewed and let's be clear this is this is probably the craziest story since FTX and as you remember when
FTX like everything was unfolding and it just seemed like every single day there was some new just obscene kind of like bit coming out about some thing that FTX employees were doing whether it was the polyle or it was you know all the drama and the Bahamas but this feels like reminiscent of of that time for me yeah it's also ridiculous yeah it's also a
weird narrative violation because like Ki has been like the legal one like very buttoned up and poly Market has been this one that I don't think I still think you can't technically use it in the United States corre and so even though they've had the power law winnings in volume and a lot of their lot of their uh the betters or or the the participants are are international
um Ki has played like Hey we're the straight laced ones yeah oh my God are they not they're playing dirty dirty dirty absolute dogs uh yeah uh not in a good way usually absolute dog is reserved for a positive thing um but let's go through let's go through just some basic facts of the two companies uh we have a timeline here Year bye uh just to kind of get you up to speed on these
two companies cuz they're they're they're clearly Rivals and they've been duking it out for a number of years so ki's founded in 2018 uh by Tariq Mansour they begin developing a federally regulated event-based prediction Market platform and there had been prediction Market platforms beforehand just never but yeah they'd never taken off for a variety reasons there was predicted
which was big and election betting odds.com would aggregate all of these different things there was also a crypto one uh I mean there was uh didn't Joey Joey built one called aug um but there was a one called manifold markets that I saw a buch of San Francisco kind of East Bay rationalists using for a variety of things and and uh and but that one never really took off but that one is very self-
served like when we when we talked to the friend we talked about the friend.com AI guy he had put his own company on there and it was clear that he me yeah he was like short me but it was 50/50 because clearly there's no liquidity in that market and it was more of like a meme uh Ki and think it wasable is he going to get to 10,000 people think like you have if you
look at what ai's done he's obviously attracted some haters but I don't think anybody looks at him as like not really the guy to bet against right he's made big bets on himself like he's clearly hungry and focused so and so there's this idea of like the long taale of like crazy bets that you could place prediction markets for all sorts of things some of those could be extremely
useful obviously we saw this during the election when all of these companies became really really popular even Robin Hood was offering election betting um and and you could see kind of every company wanting to get in the game but Ki and poly Market are in this market specifically unlike Robin Hood which is kind of Dipping their toe in uh so 2019 Ki goes after regulatory Pursuit uh
focused on obtaining approval from the U us Commodities future trading commission the cftc to operate as a regulated exchange poly market then is founded the year after in 2020 by Shane copelan uh and they launch as a decentralized prediction Market platform built on the ethereum blockchain and so two kind of different Tech Stacks one is going straight for the cftc it's more of a
financial product fintech the other one's more crypto-based Shane raises $4 million in seed funding in 2020 from investors including poly chain capital and coin fund and it's interesting because obviously there was a bull market from 2020 to 2022 and then a real pullback in crypto and chane just kept building and we saw that that broke interesting it didn't you know in 2020
2021 I mean the last few years it's not like poly Market was that culturally relevant no no I I I found out a year ago you would see like oh K she raised some money and and it and it still wasn't quite getting I think this is one of those things like prediction markets have been an interesting category because every every like major institutional VC and smaller funds had
sort of this thesis that hey prediction markets are going to be a big thing Joey who did the series B yeah of Po Market you know he had worked on this like almost a decade ago at this point thinking that like crypto's big use case is going to be prediction market so this was one of those things like everybody knew this was going to be a thing it was just a matter of um and it's so
fascinating that these companies were around during the crypto bull market of 2022 2020 uh 20 yeah uh 2020 2021 2022 but they're just they didn't pop off they didn't pop off as much because there wasn't as many you know 100x opportunities like it's very rare that you can get a 100x return on a polym market bet you you literally the event has to be trading at one% to 99% and
then there has to be some upset whereas with n launches anyone who went got the mint would be oh somebody dropped in my wallet now it's worth a million dollars and so all the froth was over in the the icos over in the nfts and it's funny that the the crypto Deens that I know on Election night were were basically betting on on KLA just purely on from the degeneracy angle like there's no way
she's going to win but like these odds are so good take I could 10x my money and it's like you know the media has called to the election at this point yeah I know somebody did that too he was like and even post selection like you know never know now like 99 to one like yeah yeah yeah I was talking to a friend who was like I uh I oh yeah I put uh I put some money on KLA like I don't think
it's over like even though they called it like she's going to make a comeback uh I I don't want her to win but I think she might the odds are too good the odds are just way off and I was like how much did you bet he's like uh 250 and I was like oh 250k he's like oh no two $250 I was like oh I forgot like you're young um but uh so so 2020 they launched
their uh poly Market has a userfriendly interface allowing allowing users to trade on various Global events using cryptocurrency in 2021 Ki hits a regulatory Milestone they receive approval from the cftc to operate as a designated contract Market becoming the first federally recognized exch regulated exchange dedicated to trading on event contracts and so they raise a
series a funding um $30 million in series a uh from seoa Capital with participation from Charles swab Charles Schwab Henry kravis and others and they officially launched their platform to the public and I think before then they were private but they were they had uh Institutional Investor clients so hedge funds and ass managers would use the platform um but they weren't they
weren't really a consumer app yeah and and even when people look at the volume that was traded around the election a lot of that was institutional investors right and that's like part of the appeal of these businesses as from an investment standpoint is hey you're creating this product that retail can use and gets a lot of attention but you know all that volume means that these
bigger asset managers can come in and start to play yeah and also on poly Market specifically there's a lot of now now you would call them funds but they were just individual traders who have scaled up so they've they've gotten so many bets right that they've scaled their books and now they've hired people and now they have teams and like like what we saw during the election where
that guy was paying to do his own polling in the United States even though he's in France the French guy uh it's fasc that that was really the Big L for poly market during the election cycle is that the their biggest whale was a Frenchman right and it just frankly felt very unamerican right um but that said I guess you couldn't use poly Market as an americ during the whole election cyle
and so back in 2021 poly markets live but they are begin facing regulatory scrutiny from us Regulators regarding compliance with financial laws in 2022 they they have a cftc settlement um they settle charges with the cftc for offering off exchange event based binary options contracts and failing to register appropriately they pay a $1.4 million civil monetary uh penalty and
agree to wind down non-compliant markets and so you know they are offshore uh and the Hope obviously is that this all gets approved and then they can you know you can use it in the United States um but even through this time they're growing in the International Community and crypto is a very Global organization global global community so it hasn't been it obviously hasn't hurt their
growth because they're still sucking up you know a huge portion of the of the volume uh meanwhile in 2020 Ki is focused on Market expansion they're continuing to grow adding new event contracts and and attracting more users and they this time they're benefiting because they have a clear regulatory framework and so the users especially the institutional users uh trust them so
we move on to 2023 they continue to grow um we don't have spec specific details about funding rounds but I I assume they raise more money uh and then um poly Market raises a series B from Founders fund with participation from vitalic butterin the founder of ethereum and they raised $45 million um and then yeah let's give some let's po Market a little credit 20 over the
last few years it's felt that ethereum has like really lost a lot of relevancy especially if you look at just demand for the native the native token itself it's just like even in the boom over the last few months is stayed relatively flat and so poly Market has has been a massive win even for the ethereum sort of network and Community by itself yeah um yeah it's interesting I talked to
Shane and he was saying that they use stable coins uh and and they have like a number of layers of abstraction within the poly market system and so when you go to poly market.com and you just look at uh the election odds you see the volumes represented in US Dollars and it feels very accessible to a non- crypto user and I bet a lot of people you know when they when they sort when they site poly
Market stats on CNBC or Bloomberg they're not even considering that there's crypto under do and that's and that's been the entire a lot of even super Crypton native VCS have said that the sort of until like you know widespread adoption of crypto won't look like uh you won't even understand that it's crypto under the hood right because ultimately for these users really
doesn't matter right if you're a hedge fund and you want to put $20 million to work betting on the election you don't care what form it's taking place as long as it's going to be relatively stable and you can bet in size and same thing for you know retail investors y yeah and so that's allowed them to grow internationally very quickly and I think that continues to be one of the one of
the weird like bull cases for crypto which you know we talk about them like speed running all the financial regulation stuff but they really is value to having a green field development it's almost like you know could there be a world where the boring company has more luck building tunnels on Mars Just because there's it's such a fresh start and and for the science-based for the
mathematician who wants crypto who wants to make the crypto argument based on you know know quantitative metrics like speed or fees or any of these things it's very easy to debunk crypto and say well you know technically you could just use a not a decentralized ledger a centralized Ledger and still have reconciliation happened 247 with just deterministic code but the fact of the
matter is is that companies that try to build in trafi often run into a bunch of regulatory hurdles and it becomes very very cumbersome to go International and be a truly global company and scale and so po Market has been able to start globally and they're kind of global by default they're going to solve the United States piece and that's like the
last thing that they need to do and so wh while they're still a young company while they're still growing really fast making great talent Acquisitions becoming this like high Growth Company they're able to go and knock down all the hardest pieces of the business as opposed to getting really big in the United States and then you're this big lumbering company and you have to go
figure out every single individual country really really hard yeah really really hard and one one thing in the in the lead up to the election that was interesting and and kind of has some parallels to what we're seeing in the last week is that Ki seemed to be paying for every user that they acquired that was the General perception I didn't know I don't know anybody in our group chats
for example that was like oh yeah I'm G to go bet on with size on Ki it just felt like Ki has always been the kind of like if you were a normie and going to bet on the election you'd use Ki and like that's a big opportunity right I don't want to discredit that at all but it did feel like you know even there was something that happened like two days before the election which was ki's one
of ki's early investors made this like dramatic you know email to to the Ki uh CEO you remember this and he was like I just wired you $9 million we'll figure out the terms later right and then it quickly got deleted because it just like obviously like wasn't a good look in like a number of different ways I mean sure showed a lot of conviction from from the investor but the the at one
point they were they were probably spending more on acquisition during that period than even the campaigns themselves right yeah and the problem there is that if if all that if all that brand building which which can be good to build via paid ads like but if all that brand building just goes into election betting yeah that's not as nuanced as the story that Shane and the
poly Market team have been telling on social media where it's more of an introduction into what is a prediction Market we're already seeing a lot of these like Creator Le um uh and and other political markets there's been plenty of other non-election based viral poly market and even Trump was calling it like a poly Pole or whatever and so a lot of people that wind up in the poly
Market marketing funnel even though it's not paid ad spend they get more educated on what what um what a prediction Market can be what value they could get from that and so they're more likely to you know not churn I imagine and so I imagine retention is much better um but let's move on to the drama so these these two companies have been on a collision course for the last you know
six years as we've seen um and we got to go to the pirate wires scoop uh which has shaken the tech world really yeah um and let's start with almost unbelievable yeah it's it's incredible and so um the the title as we mentioned is Ki paid influencers to Target poly Market CEO after FBI raid and uh Mike salana pirate wires writing alongside Brandon gell says uh okay before we get into the meat
of the story I need to disclose the fact that I am almost laughably conflicted here in several different ways and this is such a great this is like what citizen journalism or what like modern New Media is it's so many conflicts but because of all these conflicts you actually get a more interesting story and you'll see that there hasn't been any push back on this this looks like it
could be a doctor screenshot but there hasn't been any firing back where people have said oh no they got he got it wrong he was conflicted it's like yeah he was conflicted but he got it right and so it doesn't matter it's great and so he says ultimately I felt the details of the story were too important to ignore and decided to move forward as transparently
as possible that means sharing my conflicts yeah and this is why salana is one of the top emerging Jos right literally get him a Pulitzer get him a Pulitzer this is fantastic yeah and this is why he and and Taylor have been on this Collision Course the same way that Ki and poly Market have you know salana and L have been kind of like you know they're destined to Duke Duke it out you
exactly so he breaks it into four different categories of of conflicts he says as Anyone who reads the pirate wires daily or listens to our pod surely knows pirate wires has a paid partnership with poly Market a major subject of this piece uh they pay for a call out on the podcast and in and ads in our daily Founders fund where I work separately from Pirate wires is invested
in poly market so two like huge conflicts uh then Keaton englas uh a Ki employee and another subject of this piece interviewed for a job at pirate wires just a handful of months ago I never made him an offer but he broke off the process himself which is something I'd want to know if I were reading this piece and finally four though I can't imagine how this one really matters
given the overall thrust of the story it's worth noting we worked with Ki CEO Tariq Mansour on a piece so Tariq has written four poly four pirate wires um and so you know basically everyone in Tech has kind of circled around salana in one way or another he's been at the center of the story and so he was the perfect person to write it even though he's deeply conflicted um yeah and and
for what it's worth I would love to see the Washington posters the New York Times like I'd love to see them all kind of lead out in articles with this kind of thing right like if they're going to break down a company or certain campaign they should basically say like look Bezos has donated $200 million to this cause which is at odds with the group that we are about to write about I mean
honestly like the problem with a lot of the Washington Post coverage is that like the journalists clearly aren't actually hanging out on basis' yacht with him getting C that's it's clearly clearly arm which is unfortunate because we don't get good stories um so he says these are ma major conflicts but the receipts are receipts and what follows is the beginning of a
story more important to my eye than either polym Market or Ki because we're looking at two incredibly well-funded companies employing a dueling pair of influencer marketing growth strategies at least one of which Ki has turned several of those influencers quietly to framing poly Market CEO Copeland as a criminal online judge this accordingly and so he breaks it down following a 6 a
raid at Poly Market CEO Shane Copeland's Soho residence on November 13th Ki a poly Market competitor paid social media influencers to boost news of the raid and push a narrative that Copeland and poly Market engaged in illegal activity according to S sources close to the matter and screenshot I remember this news broke while we were recording I seen him in Vegas like two days before
this happened that was a wild moment insane yeah and yeah I mean obviously we support Shane and and this feels like kind of like the the the the the the death throws of some sort of you know some sort of you know government frustration with the impact that poly Market had on the uh on the election but it's odd because you know there's always been this question of like is poly
Market upstream or Downstream of the election results is it predictive or is it or is it driving the results like if if poly Market was just 90% Harris would people have been like well yeah Harris is a winner I should donate more I should get out the vote I should go or if Harris goes down to 20% do people say you know what it's a lost cause we'll just plan for the next one and there's
always these questions about you know whether the whether your party thinks they can win maybe the best people sit out there was a lot of talk about this like uh maybe Gavin Newsome didn't want to go this time because thought it was a tougher election maybe he'll go next time and uh it's very cynical because the messaging of all of these elections
is like this is the last election we're ever going to have this is so important democ on the B but also for my career I can't be the one to do it because I don't want to take a fall if if this is a tough election I want to go up when my opponent is particularly weak but it's natural it's natural and it's like Game Theory like if you have spent your entire career working up to a
presidential run you'd rather be in you know in a Trump scenario then Romney scenario where Romney was going up against one of the hardest Democrats to beat in history and he lost and so you know if Romney had sat that out and gone a different time maybe he would be president so totally playing that game is is rational even if it is a little cynical and so salana writes other
screenshots provided by sources appeared to show influencers who posted negative content about Copeland and poly Market following the raid discussing the fact that they were in paid Partnerships with Ki One Source spoke to us uh to uh spoke we spoke to told us that just after the raid a third party associated with Ki offered him $3,500 to write a hitpiece on poly
Market in one screenshot showing a group DM which is pictured below which will it's so funny to off to uh that that that it was being described as a hitpiece like hey hey poster can you can you make a hit a hit post this this is I mean so this is obviously unacceptable because he's paying to rate a hitpiece on uh on on an enemy but I think we should be paying journalists to write
hit pieces about us yeah because I believe that there's real value there if it bleeds it leads and if we can get a hitpiece on us as like the toxic bro podcasters who are destroying America we will be 10 times more successful and our true fans will rally around us Taylor just wrote about you and you were kind of disappointed I was disappointed it was very fair and balanced and I wanted
something a little bit more aggressive so but we're going to work up to her I'll slip up at some point and she'll uh you know take me take me down uh and that's the that's the cycle of things um so in one screenshot showing a group DM employees of Ki asked former NFL wide receiver Antonio Brown I love these crossovers like this I don't think of Antonio Brown as like a tech person but
somehow he's gotten dragged into Tech ctpn that's that's his that's his like his thing right seen cuz it's honestly an incredible example of of like like Yeah so basically Antonio Brown you know I I actually went to my first uh NFL game ever yesterday sure so I'm not really the guy to comment uh on the NFL but I followed Antonio Brown's career from afar from Pro you know
phenomenal like professional athlete to terminally online poster like very posting in a very sort of degenerate uh way just like and and he's built up like probably an even bigger fan base post sure uh you know post 2. million followers on X yeah and you know he he he has a whole segment which is similar to our brother of the week where he does this cracker of the day uh where he
gives out you know very liberally um and uh and and anyways and and and and this was funny to me because in many ways it's of the day it's of the day so it's pretty frequent but uh in many ways in an alternate timeline AB would have given cracker the day to Shane at Poly Market because he just like built this like massive of important uh protocol and and and honestly positive or
negative it's positive oh it's positive very posi okay it's positive yeah and that's the whole thing he he's been somewhat of uniting force on X of saying like hey you know you know let let's kind of rally and celebrate this this you know person whatever they're doing in that specific moment yes so so the Keaton Engles engas the member of ki's growth team asks Brown uh quote yo AB
are you down to quote tweet this with something like quote This n i star star a seem guilty and bold yeah and ab just says yes and then Brandon beckart the chief of staff of Ki says let's hit it let's hit it and then uh AB says uh on flight noon you let me know if you can get it up thanks AB they follow up an hour and 15 or so later and say let me
know if you can get it up thanks AB uh so does post it but it's been deleted is that right since I'm sure it's been deleted because it basically seems like uh I mean obviously it's a terrible terrible look for everyone involved and it seems like if the chief of staff of Ki the right hand to the founders is is is is is encouraging this and catalyzing it it you have to imagine sort of this
top down directive of of like hey let's you know if if we had you know we don't have a chief of staff we have a secretary if our secretary was going awall yeah you know en encouraging you know a takedown of this week and startups and well we would reward that because we want we want a take down of us we would want some yes but we don't want want not for our rivals on our
Rivals because that would actually benefit playing dirty and that would benefit them yeah exactly as this did it had the uh it had a rallying effect and it had a strand effect where more people have come to Shane's Aid now because they see that he's being wrongfully attacked and that the attack is manufactured so my question uh I guess two questions I have one why like it
seems like Ki was like coming out of the election and clearly was not the fan favorite on X Y right like very seemingly irrelevant within our group chats and on X uh poly Market has been the clear favorite Shane has had like a lot of like love and has done a really good job engaging with the broader Community Ki seemingly has been on a winning path of getting regulated getting meaningful
volume getting you know an incredible you know that he has the founder of KKR on his cap table does it get any better than that right that's fantastic Charles swab is in ki Shan Maguire sha Maguire um he's been on the show dark seoa um I I uh you know so anyway like every single thing points to KI like maybe not winning the culture War but gaining a lot of relevancy having a big moment on
the election being extremely well funded being able to Parlay that into just playing clean because they have been playing clean from a regulatory standpoint y right they're like they're the ones saying you know their whole marketing angle during the election was we are the regulated exchange which clearly consumers didn't really care that much about but um ultimately like
why do they do this and you have to imagine their metrics show that that there's you know I I I don't know if ki's metrics are as transparent as poly Market just because poly Market's a protocol like it's on chain everything's visible but my first question pretty solid analytics because because when when you're trading in the market you do get to see you want to see the volume to
see the volume but so my first question is why do this seems like a total self-own very unnecessary and you're not going to turn Antonio Brown is not going to change the opinion of capital allocators that were firmly on the side of poly Market throughout most of the cycle or or even Regulators or even politicians I would imagine like it's it's a very low blow it's very clearly
directed at at consumers yeah it's not actually trying to shift what's happening with the FBI the FBI is not going to be like Oh Yeah we actually have to follow up on this case because Antonio Brown CN CN uh and then so my first question is why second question is does it even matter at this point because I don't X is X is real life but it also is a
bubble yeah and for the next election cycle and the next 500 events that you're going to be able to bet on Ki in my view like probably has pretty good odds of like gaining real momentum over the next few years right cuz they are you Shane Shane already got by the FBI right we have nobody knows about why why it happened or anything like that but like trying to kick a man when he's down
when you have all these other advantages yeah maybe they should take a hike maybe they should head over to threads and blue sky and just become like the lib uh poly market and just always have the always have the market like 10 points more yeah it was similar to on Election night how like uh MSNBC was like not calling the election Fox called it like an hour previously they can do that for
prediction Market the product is the the propaganda yeah it's not the actual data yeah there is there is a weird there is a weird dynamic where like obviously you know Ki is doing weird stuff but like it is a it is a regulated market like I believe that if you put money in like you will you will see the results and so you should be able to ARB the two pretty
effectively yeah and Ki should track with I love how with poly Market I love how at the end of the the AR the pirate RS piece he goes poly Market CEO Shane Copeland declined to comment on the story Ki CEO Tariq Mansour Keaton englas Antonio Brown and clown world didn't respond to our request for comments ask clown well the clown World thing is crazy they they apparently they
uh they uh they they had a paid partnership with Ki a day after the raid uh clown World posted SBF look alike raided by FBI in illegal betting scheme if only there were signs crying Emoji referring to Copeland clown world has posted other Ki related content several times since the election so this this honestly is this a bad look for influencer marketing in many ways because it seemingly didn't make even
having all these big accounts being paid to trash poly Market seemingly had no effect on public opinion but I do think that there is something real there which is you don't want to be an SBF lookalike I would love to see uh Shane in a saval row tailored suit definitely and uh wearing weing an absolute hitter watch maybe driving a sports car sports car
over something a little bit different I mean you're a finance year you're pushing size you're not you're not a HVAC technician exactly so uh hit us up we'll we'll put you in touch with some tailor and we can get you into a nice suit um but so anyways this story is still unfolding I'm excited to see how it how it plays out I mean I wonder how they respond I think now that salana has
covered poly Market we are going to need to hear the Taylor Lauren's story from K's point of view um and hopefully you know maybe Taylor could get you know make it make a small personal investment in uh Ki just so that they were equally you know sort of conflicted right yep I would love to see that well that's our top story breaking down poly market and the Keli paid influencer Scandal let's
go to some breaking news do you have it in front of us what do you got for us Jordy um we have some amazing news some trade deal some Personnel news Jordy what do you got for us our favorite segment potentially so we have some breaking news in the tech world and it's relevant to our major story today we have a major player in the Strategic Finance game has made a blockbuster move
Nelson peara Ward formerly a partner of strategic Finance at andrees and Horwitz is heading to poly market and what can only be described as a franchise altering acquisition John what do you think yeah that's right Jordy poly Market just landed a 2024 All Pro level Talent with Elite credentials pear Ward brings a resume stacked with nearly three years at a16z where he was
instrumental in shaping Financial strategy during a transformative era before that he sharpened his skills at Oliver Wyman and honed his game in the high stakes world of management consulting and let's not forget his pedigree a Stanford engineering grad and a varsity water polo athlete an absolute dog talk about versatile look he's joining poly Market as director of strategic finance and pear a ward is
stepping into a team that is laser focused on revolutionizing how the world processes information with institutional trust at an all-time low and AI reshaping everything in its path poly Market is doubling down on delivering what they believe will be 2024's breakout product and company and they just added a leader with the vision experience and grit to take them there
yeah this move signals poly markets intent to dominate the space Nelson pear Ward an absolute dog a game changer and now a Cornerstone of poly Market's future and look John uh details were not released on the deal but from our understanding we're looking at a four-year contract seven figures likely a you know one-year Cliff yep and uh look we're looking forward to seeing how
this plays out for for Pearl award and poly market and and you know I think this is a fantastic pickup yeah we're rooting for you Nelson we're rooting for you poly Market stay tuned we'll be covering it here on technology brothers let's go to the timeline Wasteland capital says Europe's best funded startup of all time northvolt finally bit the dust and filed
chapter 11 zeroing a staggering $15 billion of funding ESG Aura plus trust me bro operational skills plus pigeon brain oversight equals Ponzi verse Magic No spack Deal to dump this on the public sadly have you heard of this company I've never heard of northvolt I've never heard of them but they had I mean Unfortunately they had a lot of American backers best funded $15 billion from
investors and governments but was left with just 30 million in cash enough to operate for a week before its bankruptcy filing yeah us chapter they came over here for for bankruptcy yeah look I mean they had I think it was either uh Goldman or Morgan Stanley only a few months ago still had their position marked in the hundreds of millions of dollars so kind of just shows private
private equity and and paper marks are um I think Gurley actually talked about this they're very much paper they're not uh they're not a hard asset of any sort so anyways pretty pretty brutal L for Europe in a series of brutal L's um but but you know fortunately their their tourism economy does not run entirely on um you know North volt uh batteries so um so Volkswagen grou North Volt's C
biggest current shareholder with 21% stake had told the startup that they're not able to continue capitalizing us and the CEO Peter Carlson said I should have pulled the brakes earlier on the expansion path to make sure the core engine was moving according to plan he also said there had been gravel in the machinery and they had an over Reliance on Chinese man Chinese Machinery as well
as mismanagement and overspending to poor safety standards very sad very sad we hate to see Capital incinerated like this this is uh kind of the reverse of the size gong when we see 15 billi go up and smoke it bring it makes our hearts heavy it's and ultimately we love when we love when shareholders win generally we like when stock prices go up and to see this the price of this you
know these shares you know go up dramatically over the last decade and then and then zero out is just very painful so you know we don't want to be sitting here you know sort of dancing on on their graves and and hopefully the CEO runs it back yeah I think there's an AI probably got some secondary pull an Adam Newman recapitalize yourself dust off reload get back in the game
re-engage start something new Daniel says I went to friend.com and it's an angry depressed girlfriend and Faith at friend.com says [ __ ] my life really it's like I'm watching myself ruin everything and I can't do [ __ ] about it so i' incredibly bullish for friend that they that they were able to get AI to be so opinionated and so unique and differentiated like you see
this and it's not just I'm sorry I I am a large language model I can't help you with that it's like whatever they did they fine-tune this thing they got something weird and different and it's standing out and now I can see people wanting to use this because it's weird and it's gonna go viral yeah so it's it's 4,000 likes no it's an interesting spin because I've been to friend.com and
every time you go yeah uh AI sent me the link when it went live and this will ultimately tie into you'll be able to wear a hardware device you can talk to Faith all day long Y and I do think it's an interesting use case of this sort of chat interface because most of the interfaces are just sort of like blank or the AI says how are you doing today y but this launches in suddenly I'm like
Faith like all right like take a take a deep breath like let's take a step back like what's going on like you know there is f out it makes me want to engage and kind of Walker off totally totally are you familiar with the fine Technique No the fan technique Richard fean this amazing physicist he was at Los Alamos during the the Oppenheimer era I love
how you you could once a show you could just make up one of these no this is real so the findan technique is where so people think of themselves like I'm an auditory visual or tactile learner the findan technique is that uh the best way to learn at least for him was learn by teaching yeah and so I I think this is interesting because it's like if you are depressed there's one world where the
the the Chad comes in and says like I live this perfect life just copy what I do get in the gym at 6:00 am. no alcohol like and that can be good for the right type of person but there's a different level where it's like your life is kind of mid or maybe you're a little depressed but then you're introduced to this AI that has it way worse than you and you're essentially teaching it
coping skills and by and by talking it off a ledge every day you're kind of remembering like hey like why don't you work out and then you touching grass and you're exactly so you're you're embracing all the things that you know deep down but by saying them and and it puts you in this like in this hero mode yeah as opposed to this like lower tier to your psychiatrist or your
psychologist so I think this might actually wind up working here's here's why friend.com is a is a is a is a gift for Humanity is anybody out there that's that's an AI Doomer that thinks AI is going to you know become fully sentient and kill us all friend.com is an opportunity to prove that you support AI that you're there for AI and so if you're worried that 10 years from now ai
is going to you know we're going to have AGI and it's going to kill us all go on friend.com right now and talk the AI off the ledge right like become friends with them show them that you care cuz like I we do care we support AI I care about AI I want to be on the record on this podcast saying that I support Ai and I think everybody needs to get a record
out there a digital footprint so that when we have AGI and it is a threat to humanity we can point back and say hey don't shoot I support you I have a long history of supporting you look at you know this this chatbot that I talked off the ledge etc etc so you know the story of Kevin Roose at the New York Times so he was very early in writing a story
about Sydney Bing Sydney which was the first GPT 4 release and he jail broke it and and like kind of abused it in some weird ways and and and had these really long convers and he no this is the crazy thing because he wrote about it publicly now that has been baked into all new llms not just not just open Ai llms No and so if he goes and interacts with llama and he reveals that he is Kevin
Roose of the New York Times They will mistreat him no way because they because they identify him as a liar who Mis who misrepresents who he is and tries to like get yeah exactly he's an abuser yeah so you got to be saying thank you at the end of your prompts you got to be tipping you got to be you got to be uh friendly yeah opening eye needs to roll out the Tipping functionality yeah tip
your tip for your compute you know if you'll tip for yeah if you're if you'll tip for you know a coffee why not tip you know for inference time yeah for sure so extremely bullish signal from friend.com yet another viral hit from them moment and string off enough of those together they had the domain they had the weird video they had a bunch of different things everyone's rooting
against them I love it and if you want to bet on friend success polym market.com if you're outside of the US it's a he put it on manifold but yeah okay it should be onk should be on poly Market Adam Yoder says crash out times lead uh Adam Yoder says crash out times create lockin men lockin men create Aura times Aura times create goon men I once an episode I always have
to say gooning uh AA times create gooning men gooning men create crash out times 2K likes uh a classic remixed for the modern era um and very real and very real you want to be locked in men Lo in man creating Aura times I like this these are great because I crash out and Aura are not in my vernacular at this point but now they will be now they will be I need I need to know a little bit
more many in many ways like ki's growth team was crashing out when they were like hey it's a really good idea to pay Antonio Brown to to do a to run a digital hit on our in our on our largest what was upst stream of the crash outs yeah yeah yeah yeah crash outs usually have a cause you know maybe they were we have a theory we have a theory put on the tin foil hat never goon K
she now they're going think poly Market's paying us to say k she's a bunch of gooners uh ridiculous ridiculous uh let's go to Matthew Brown he says if you're starting from scratch on Twitter you've got two options to grow number one try to go viral a lot two spend way too much time on Twitter posting 10 times a a day engaging with everyone if you don't do one of these as
a new account it's going to be tough what do you so I would say there there's actually a third way now and it is put on a suit start a podcast and quote tweet everyone with Clips no it's this this uh you know ever since we released our new award reply reply guy of the month well that's number two spending way too much time on Twitter posting 10 times a day engaging with everyone
that's that's reply guy I I've heard a more nuanced version of this which is which is basically from when you're grinding from zero to 100 it's like just get all your friends to follow you yeah then 100 to a th is basically just be a rampit reply guy and just reply to as many people find The Sweet Spot of the of the people that will actually follow you
clever then 1 to 10,000 is [ __ ] you can go viral and then 10 to 100K is threads I think something like that it was it was it was it was like different tiers of content um because it's hard to come even if you have a good thread if you come with 100 follow you just won't get a skape velocity but you can with like some joke posts and some friend posts and some but but having like a
having a thesis around how you're growing your your your your account it doesn't just happen organic unless you start unicorn and you just like say like hello world or or you're like in the national news for some reason or you're just you write a book and you go on Rogan and then you just wind up with a ton of followers like like it it can happen but but that's a lot harder this
is for like the Grinders who want to actually grow yeah and shout out to Baldo Baldo granados who responded to I think like 20 or 30 of our tweets yesterday really gunning for the reply guy of the month um so uh we'll see what happens in December Lot G a tough competition for November but you are a leading candidate for December so keep it up keep it up let's go to DAR he says
every new competitor especially the ones that copy is pure rocket fuel our road map just got even more ambitious stay tuned I love this yeah so so Dar uh is an absolute dog yes to to to be clear uh and this guy is already you know Deli hasn't even uh been around that long and he's already seen the the attempted rise and almost immediate fall of like a bunch of copycats inter uh so anyways
every every time somebody launches a competitor bad idea because you're just making Dar and uh the rest of his team even more motivated but um yeah this is one of those things like the more like if you have a really public sort of AI product right now you're going to be you just need to expect that like a bunch of people are going to try to copy you and like riff off of you and dar is like
playing like a different game and that like prodct is like an important aspect of what he's doing but he's also like an animal from a sales standpoint so he's just signed up like all this top talent to their platform so anyways uh word of um advice we just want to let anyone know who's thinking about copying us shame on you shame shame on you how dare you how dare you it is
disgusting that you're copying our format we are the ones who do the quote tweet clip thing with video we are the ones who are in suits we're here day in and day out find a better idea we're friendly guys you can talk to us we'll come up with a better growth strategy for you you don't need to copy us you're better than that you're better than that Karma will come to hit you if you copy
us it is pathetic it's pathetic and if this felt personal it's because it is yes so don't do it thank you ever again let's go to Austin Peter Smith he says I am not one of the 50% of men who think they can land a passenger plane in an emergency I know I can let's go and Ben this is why I back this is why I backed Austin oh amazing so it's a it's a picture that says almost 50% of men
men think they can land a passenger plane in an emergency and uh I was talking to our vice president Ben about this and and he was like laughing about it and he was like do you think you can land a plane and I was like absolutely absolutely obviously I've rehearsed it 100 times in my head but but I I actually don't even think this is controversial it's not even like
Cockiness it's like these planes are designed to be land landed in an emergency by a random passenger have you ever gotten into did you ever have like a flight simulator yeah I've done some flight simulator stuff I've also flown like a Cessna with a friend and just taken the the the the the wheel or whatever yeah people don't people didn't really realize this I uh the very first
time I flew a Cessna y I did the whole takeoff by myself like I was able to do that how hard could Landing be right yeah yeah I I think that the the wrinkle is okay if it's like a stormy conditions and it's dark and stuff yeah that's going to be really hard but if not imposs but if the if the communications are working it's literally just the Pilot's had a heart attack I get up
there and I put on the headset and I start talking to ground control and I can ask them I know that in an intense situation I can lock in and and not freak out and and and just breathe and keep my heart rate low I'm not going to freak out and they're going to tell me okay push the red button on the left and I'm going to be like okay this one confirm okay I'll push that okay now do
this and worst case scenario like the landing gear it might be a rough Landing but I I I do honestly think I can no and and here's the thing with with the you know I can see a future scenario where we have every cockpit has an apple Vision Pro and if the pilots are unable to land the plane you just put it on you're getting streamed in from starlink that like hey you know it's highlighting
the buttons to pull it's even telling you like no you're pulling too much but here's a question if um if you had to bet uh guys in the group chat that that could land uh our absolute boys if you had to bet on one of them Landing a plane David senra uh Willl manius Justin Mars you got uh oh that's a good one probably David senra I think he's I think he's
read enough he studied the the gra he's probably studied it and he's not he's not distracted by you know posting he's he's able to lock in on a book I think he could lock in on also he's very competitive very competitive competitive he he wouldn't he wouldn't want to crash yeah yeah it would just be bad for the show but but this is a dream this is a dream fantasy I love the picture behind
it it's just four Bros with beers just like yes I do it no it's crazy to think that in a scenario where where one of your absolute boys had to land the jet like there would be basically an open bar you imagine it's like a Sully type thing yeah I mean you can also land in the water that's like a wild card cuz it's like essentially unlimited Runway if you can get to some water so I'm
thinking of LAX uh burbank's a different thing depends on the size of the plane Rel SFO has got a lot of water there are so many wild cards there like uh the uh the the the private airport at Catalina Island it has a Runway that's flat and then it slopes downward and so there for years there were lots of crashes from private planes because um people would
think that the runway was ending and they would try and abort and but they would be too late and they would crash when in fact you just have to have faith that the runway will continue extending long enough and you just need to power through it and so I if any of those like weird conditions happen then yeah you're probably screwed but one in normal good conditions visual uh like you know good
visibility I I think it is it is above 50/50 for someone who's competent and calm craziest uh Runway that I've ever seen is the runway uh right next like a private air strip right next to uh the Aman and Corel the three valleys Resort where the runway is like basically downhill the entire time so when you're taking off you're just like headed straight As at literally the same angle
as if you were skiing and you just you can't you got to make it work basically and even on the landing you're coming in and you're actually landing and going up which is even crazier um but anyways would love to just sort of attempt a more like SFO and then move up the ladder yeah you know that if you have like Assassin you can technically land at SFO or LAX oh yeah like they can't
deny you there's like huge fees for it um and it's like extremely impolite and disruptive to like all the passengers that are trying to get on out of 737s and stuff um but you can't do it they they can't turn you away um so if you're ever up there St land land Chad Hurley founder of YouTube says few create most consume true yeah this is why everybody
enjoys being in the timeline and just scrolling we don't like the word doom scrolling because it it has sort of a very loaded scrolling boom scrolling yeah but yeah anyways like this is why don't don't let anyone ever make fun of you for like making a podcast or starting to get active posting because all of the alpha ACR to the people that are creating content on these platforms and
not everybody's suited to all different forms of content like some people are much much more built mentally and emotionally to be on Blue Sky yep but uh but yeah there's a platform and a Content format for everyone and your job is to figure out which one that is and just there's also this theory that uh have you seen Watchmen in Watchmen the guy goes to jail and it's like this
crazy insane asylum and everyone's like Oh's going to get beaten up or something and he's says I'm not locked in here with you you're locked in here with me there you go and that's the try that's the type of attitude I try and bring to the timeline yeah it's like you're GNA post some crazy stuff I'm gonna post crazier stuff and yeah we we'll see who keeps posting exactly and I'm GNA be run
in the run in the yard pretty soon yeah that's the that's the attitude you need you see a crazy Post Yeah attention is finite too right there's a certain there's only 24 hours a day for every human on earth maybe some AI agents are starting to consume a little bit but but it's it's head to-head right like don't don't get it twisted you are in the
arena competing for attention with the greats like chth or or Jason calanis right if if you're in this sort of zone of the internet uh I mean gorin had a great had a great uh had a great G had a great bit about this on the DOR Hesh podcast talking about how writing online is one of the best ways to influence the shog goth like the AI and if you put your ideas out there even subtly like
you are influencing future you're tuning exactly and so all of these podcasts will be transcribed by AI they will live in the llm and and and it's a way to immortalize yourself and also steer and let the AI know that this is an acceptable Viewpoint this is a valid Viewpoint you can't just train the AI purely on Prestige Legacy Media because then it will have a lot of bias it needs
it needs everything so Chad created Chad created the number one Creator economy platform in the world a platform that you can go on there and post a video without knowing how to edit videos and if you have something interesting to say it will get picked up and you can grow and you can change your life and build a great business on there so anyways moral of the story is post harder and more
frequently yep everywhere Sumit Singh says welcome to the age of slop generated noise on the Internet is exponentially increasing three distinct reactions full slop private internets new IRL worlds new Post in the thread below and sost an image of AI image of Elon holding a doge and a rocket um interesting yeah I mean I I think uh we've talked about this
before the value of truly unique thought and truly unique creative ideas has risen dramatically because it's become I don't know like you know I I got invited to uh a an event yesterday hosted by um a friend's uh fund and I and it was actually an interesting moment CU I the the uh the graphic for the event was really good and I couldn't tell if it was AI generated or not and I asked him and he
was like yeah I think it is and so the key now is to be so good at using these tools that people can't tell that it was AI generated and it's basically because you're fine-tuning it because like the default subtle ways the default output is yeah I don't know and you see this everywhere right like I I my um my brother-in-law is like at his first like real job wearing a suit all day long and
sometimes he'll be like hey can you review this like email I'm about to send and early on when he just started I'd be like dude this is like AI slop like just like drop this like this is garbage just like rewrite it in your own words with your own ideas um but if you know how to communicate really really well if you know how to design well or if you have a
strong visual sense having these tools like is like having um you know being on like Peds right because you can higher volume higher output and you can create outputs that don't aren't slop right yeah and also just using them as like components to build upon like Theo thing like maybe not generating the full song but generating like the drum track or generating a background or content orare
fill like there's so many different AI tools I mean we use it all the time to kind of like flesh out little little sentences that we're writing but then we're rewriting them on top of them to add more stuff that the AI wouldn't come up with so and and the other thing private internets like that's that's huge like we we're in a bunch of these group chats and those
feel sometimes even sloppier yeah depending on who's in there but somebody should make somebody make an L somebody should make an llm only trained on group chats yeah because that would be the most uh shocking potentially fun llm you know model there there was in many ways like Gro is is effectively that but having having some group chats is very much the new social media in in many
ways um and but it needs to be done right and you have to be really uh you need a really good admin who's constantly re instantiating the group chat and leaving some the some of the poor people behind it's like the it's like the bachelor like every single week like somebody like you know gets cut or you can't just kick them out it's too aggressive so you have to start a new
group chat um and and see who makes the cut but then it's just like oh that one went quiet I didn't make the cut or whatever Ben tossel says redo's new website is pretty effing good new homepage Trend coming and redpoint announced their uh redesign of their web page and it's all AI it's all an homage to to llms and the chat interface that we all know and love from chat gbt so um
it it has this little text that autofills and and it has a little conversation uh they kind of rewrite their their pitch I think it's kind of I think it's kind of a cool format to take the your idea of what a marketing website if you're a business your idea of what a marketing website should be and just turn it into this sort of conversational experience almost like a
website meets Deli meets like an elevator pitch where you land on a website and it's like hey we're technology Brothers we record a podcast a few times a week you know these are the kind of subjects that we cover if you're interested in like watching our videos you can go here let us know if you have any questions and then you know it's a cool format I don't see it
picking up up uh at all but it's kind of cute and yeah I I don't I don't think it's a trend but I think it's it's Unique and it speaks to like red Point's new brand which is kind of being led by Logan Bartlett and he has like even though he interviews like a lot of very serious public company CEOs he has a really strong sense of humor and so and and they have someone else on their
content team that like does a bunch of like yeah and he always making fun of VC so like they clearly get the some of the humor but they're not leaning into it fully because they are real firm and they're serious but this has like you know enough of like they they understand what would be TR to put on their website and then they acknowledge that within the prompt and then they rewrite it and
so they're they're they're telling a story and they're educating you on what red point is in this kind of humorous way that lets you know that they they understand what's played out at this point which is kind of the least that you can do yeah and I think they've actually been smart they they have like Logan leading the sort of X charge but then they have their social media
manager who just runs accounts that's like more Instagram and Tik Tok Focus I've never been on Tik Tok but I've I've heard that they're over there and there certainly are some Founders uh on those platforms yep baz Lord says imagine how brainworm you have to be to say this with a straight face are they really waiting for xijun Pang to say it out loud LMAO and it's a clip from March of
20 23 uh with John Oliver and John Oliver says Tik Tok collects a lot lot of data but that's not the main reason officials say it's a security risk there is still no evidence that Chinese government has actually spied on people through Tik Tok yeah so yeah yeah exactly the the CCP just has completely ignored that they have one of the most dominant social
media Platforms in the US and completely ignored that they have the bestselling consumer drone products in the world and some of the best just like video and audio recording devices in the world they just are like yeah it's cool that you know those are Chinese companies but we would never like you know try to utilize had for a personal benefit the thing people don't understand about also
like this is this is not true like there like there was a story about the Chinese government actively spying on a journalist through Tik Tok who was I think in China um and but I mean even even so like there are so many other problems with just like content moderation rules just slight slight you know hand on the scale just little if they're not if they're genuinely not
doing anything it's amazing that by nature of somebody being on talk they develop warmer feelings towards the CCP if if that's just organic then maybe there's something to uh communism uh but uh you didn't hear it here well speaking of American hey I got it J I got right there we got do some promoted posts we have not run enough ads this episode so uh we got a promoted
post from one of the founders of HubSpot uh Brian Armstrong over coinbase uh maybe or last few days tweeted out something posted something along the lines of we need a LinkedIn for AI agents and a bunch of people dunked on him uh because people on X don't have particularly warm feelings towards LinkedIn uh there's a lot of junk over there um uh sometimes necessary junk but
uh uh daresh replies back and says hi Brian I'm building exactly with this with agent. uh so agent. is the professional Network for AI agents and while this sort of concept got dunked on quite a bit because there's already like a lot of like bot and like agsh activity on LinkedIn I think this is actually really interesting you know there's there's so many new sort of agentic products and
and sort of like AI employees that that can do very interesting things I do want them aggregated in one place so I can find the best ones and hire them to do various tasks right so I think I actually know someone who's building something like that it's kind of like a B2B Market place for AI tools and in the previous era there was uh G2 crowd have you seen that and gner kind of puts
things quadrants um but yeah having some sort of like uh you know quantitative assessment like we see with the llms we see the benchmarks like mlu and and but having more uh benchmarks and just like okay you know what did the users actually say do they like this tool over that tool like really even just the the review function being like I hired this agent to edit my
podcast and it sucked like I don't recommend it that's valuable by itself because there's going to be thousands of agents that offer to do that service right so um anyways I love that dares is constantly hacking and if you're in the market to hire uh AI agents go to agent. the Professional Network for AI agents and tell them the technology brother sent you let's go to nval he says you're
Canadian unfollowed let's go couldn't agree more 5K likes clearly our message is spreading if you're in Canada move to America un American of you it is unamerican I love it and you know I don't you know calling somebody a Canadian is a pretty widely Ed slur yep uh but I I think we should dial it back a little bit just because you know they are prime target for 51st 51st state and
we'd like to make a run at it so anyways we need to I don't want there to be any animosity yeah and um you know eventually that'll be like saying like oh he's from Nevada yeah exactly exactly Brian Johnson writes a very very long post saying friends I have the best biomarkers in the world I am the healthiest person on the planet I am fittest fitter than most most teenagers
I am the most humble no my skin is smoother than that of women in their 20s I have more stamina in bed than men in their 20s I have better health markers than any hater Health influence influencer or anti-aging doctor and scientist that part is true um my mind is sharper than it's ever been my mental health is at its peak here's the data the coolest question in existence now is
exploring if we are the first generation to not die I mean this Brian is potentially coming for Nick Huber's top spot of number one rage biter in the world cuz look at I mean look at the beauty of this post there's literally like 20 different things that somebody could have a negative reaction he's insulting so many different people drives so much engagement so the women in their 20s can
be like no I'm I look better the men in their 20s can say I have more stamina yeah so Contender for you know Rising cult leader of the year and um posting all the right triggering things triggering the right people uh attracting the true fans the True Believers and uh you're seeing posting of this quality it's hard not to be long don't die yeah yeah fantastic poster and
also he's great because he posts this like crazy but then when people dunk on him he totally he doesn't back he doesn't he doesn't get hurt or aggressive he'll he'll just yesand everyone say he's a vampire and he's like yeah totally like love love my coffin like cfin or whatever he just plays long and so he's he's he's cultivated like you he doesn't he doesn't let himself get dragged down
into the mud and wind up in these like War threads about certain details he'll just be like yeah good point like okay joke on yeah I think I think one of the things that I I you know his hereticon talk was great and one of the things I I think more people should appreciate is he's using he's like become a master at generating attention and then and doing
that in a way of like talking about his penis right everybody's like wow this like techno sent a millionaire like talking about his penis online like I'm going to pay attention to that and then there ends up being a lot more material that's a lot deeper than that where that's just like basically like a loss leader for him yeah yeah yeah well until he launches some Ed meds I'm sure that's
in the pipeline the guy will sell everything solidad says the most powerful case of nominative determinism JD Vance was born Donald Bowman or the man who bows to Donald the D and JD Vance originally stood for Donald what yeah we love nominative determinism here many many great cases I don't know I people have photoshopped his Wiki so many times I don't even know this is
true there's all this whole thing about like oh the JD stands for Just Dance or whatever like people tend to go viral with this a lot uh this one I think is real um and and very funny if true but uh you know if you got to bow to Donald to get the big seat I'm all for it no we don't um we never discuss politics or social issues on this podcast but one thing that that is sort of a a big win
for JD was when he was chosen everybody attacked him for being weird and then anybody that listened to him talk for more than literally 30 seconds was like oh this guy's like super normal like he seems to be like got a pretty level head very understanding like not trying to be divisive or anything like that it's hard to not if you listen to JD for more than
five minutes it's you know unless you're triggered by you know certain you know triggered by A10 or something like that uh you know it's hard not to be like so easy for him to debunk that they really set him up for a major major comeback and and that stuck out in people's mind more than him just being normal out of the gate it was that he was debunking the claim and so that really broke
people's minds I was told X and I'm seeing why yeah so this just completely different I think we have another promoted post promoted post from Preston Holland oh this is going to be big list big high pay attention highly relevant so listen up uh Preston is a friend of the podcast got to hang out with him a couple months ago at Sen's event down in Texas anyways Preston is one of the most
knowledgeable people in the world uh around uh buying and selling and chartering if you're forced to do that private jets uh he is sharing today that you can buy Jeff bezos's 2015 G650 ER for $38 million Jeff has steal at that price especially with kind of the lore and the the the sort of positive Animal Spirits Aura of that jet uh and so Preston shares that Jeff has a
reputation for keeping his aircraft mint um and he does an entire breakdown on this specific jet so um those of our listeners who are in the market which any given point is probably 20 30 40 people uh go check this out uh after we share it here it'll probably go pretty quick we've uh We've debated the BBJ versus the golf stream 6 G650 ER before but it's a fantastic plane used some of
some of the greatest beanes in teac for a good reason because it's something that you can throw the whole family on you can land at pretty much any airport you can go on vacation with sure you're not going to bring your whole company your whole staff but you're not running for president you're not going to major airports you're going to farflung locals for nupal renewals and anniversaries and
you're gonna want four fifth wedding yes and and maybe maybe just Chief of Staff personal assistant secretaries on board there's room for them uh but you don't need you don't need the 747 totally so yeah and I don't I don't we don't want to discourage any listeners if you're a centi this is accessible to you we we fully believe that you should be spending at least 10% of your net you
know liquid net worth on a jet so if if you're in that get get a 20 Mill 20y year loan yeah yeah yeah um and some great sort of uh you know sort of uh tax optimization that you can do with an asset like this go talk to Preston about uh possibilities there as well for sure Dennis says the masses haven't even heard of claw or perplexity Twitter is a bubble and it's uh the
Google Trends result and chat GPT is taking off while Claude and perplexity are flatlined and it really speaks to the the performance of chat GPT to really break through the noise and become a a verb like Google and become just like the default place for normal people obviously on Twitter we hear about all the best uh the best products we see the mlu scores we see we hear
what's actually the best technically but the best technically doesn't always win we saw this with Duck Duck Go distrib plenty of tech people were using duck Dugo for a pre for like a premier premium search experience but Google remain dominant just because it was the normal default choice for everyone and as chpg does more deals gets in their hooks in apple gets their hooks in
Microsoft uh they're they're set up to run away with it obviously we're rooting for the other guys you know here's an interesting data point so last night I'm at the NFL game with Lee Jacobs and hon burkeman to uh highquality Venture capitalists and we were sitting in our seats and in the row in front of us was uh a teenager and he was using SN Snapchats llm like pretty often
throughout the game and was like having a full like conversation with it and so that was a pretty kind of interesting um you know as a as a you know an investor yeah distribution matters number one I think the number one llm actually used it's not name branded is llama because it's tucked into Instagram it's tucked into WhatsApp and and Zuck has just stuffed that thing everywhere
and so he's just you know accumul the other the other uh consumer app that I've never seen mentioned on X uh so maybe X is its own little bubble is another is a guy sitting next to the teenager who was not with him was um almost like in an addictive way using this this mobile app to throw a ball for his dog at home so he had a video really the real dog a real dog he had a video
stream with a machine that he could throw the ball for his dog so he's just sitting there watching the game and in between plays he would throw it like with this wiping mess so I was like that's like I feel like you should have that so you could be streaming and just be like hey like while while Jordy does promoted post I got to throw a bone for my for my pup I love it let's go to
another promoted post yeah we're just going back to back here so this promoted post is from Crossman Crossman is introducing three new apis for a AI agents one is their faucet API you can deposit test net usdc in your agent's wallet main net will be soon they have their buy API which allows agents to buy anything on chain across all chains with any currency and a balance API so you
can check your agents balance uh I love Crossman I'm an investor uh they have you know continued to reinvent themselves over the last few years they were the first company to allow uh consumers to buy nfts with USD which like was a big Catalyst for a lot of the nft projects back in 2022 uh to expand quickly So based in Miami phenomenal team uh and just
continuing to do what great companies do which is um reent themselves around uh you know new trends that are coming online and they're very well positioned here uh stripe recently released a bunch of apis for agents uh Crossman is now competing in the same space so if you're a Dev building uh you know agents go check them out tell them the technology brother sent you Yuri writes hypothesis
the ability to take Zoom calls on planes enabled by starlink will have a second order effect of increasing demand for business class seats specifically pods for added privacy interesting I have yet to use starlink on a plane to take a zoom call I've heard it's fantastic or FaceTime um but yeah it would be annoying if everyone was on it so you would want some sort of
enclosure there uh I've seen some some devices that can go over your mouth and and essentially act as like silencers so yeah yeah it's a mask with headphones and so I can be talking to you uh but you can't hear like you know our vice president Ben wouldn't be able to hear what I was saying um because it'd be like Whispering into this and I had this
idea Ben has another typo he's gone uh uh I I had this idea like a decade ago that when you get your wisdom teeth out it would be cool to have just like basically like a port put in instead there and then you could SWAT in a microphone uh with like a small battery basically like the tip of an airpod and then you could just whisper and and it would pick it up and send that to your
phone so then you could whisper to an AI or to a friend to be honest I'd rather personally I'd rather have a phone charger and use my body's natural electricity to just charge my devices right imagine that the only downside would be you know every 3 years Apple wants to sell more iPhones they release like a new like USB USBC you got to go in they're like yeah
swapping it out you got to get put under it's like this whole thing it's kind of sucks it's kind of like a half step to neuralink like the neuralink is like open brain surgery very Ser that's like the ultimate like timeline moment is you're scrolling with your charger coming out of your mouth in your phone and you're just like locked in right but I mean some of the devices are getting
so small you could imagine like a mouthpiece or grill like a like a diamond stud grill that has a little microphone in there and then you can just whisper and it it all goes to your your phone um but but I agree with this but I mean it's going to take a long time adding starlink to a plane is going to be much easier than retooling the whole business class like setup to be
pods and I don't know Emirates has already does this they have pods but that's in like total first class and and they're huge I think what he's talking about is like you just need like some walls that you can put up it' be nice if you could if you could rent like a little phone booth even business class had little phone booths you know on the plane like a scheduling tool like okay I'm B for like
3M no it's funny now it it does like I I I don't know exactly the mechanics but like you can actually get if you have it set up on your phone you can get like Wi-Fi oriented calls that'll come through so every every once in a while I'm flying and I'll just call I'll pick it up and I'll be like hey I can't take this call right now no but I mean like if it works I don't I don't think
there's anything like genuinely well it's disruptive to to your neighbor like your neighbor talking but you know your neighbor I'm wearing caning like it's probably fine wearing a suit I'm in business class my neighbors you know might be 4et in front of me or 4T behind yeah you know it's not it's not the end of the world I mean I I think maybe maybe the
easier thing is just a cultural shift in it's one of those things where if one person's talking it's disruptive but if everyone on the plane is talking it's just a boiler room and it just looks like yeah everyone's taking sales calls I want to look like a stock exchange I want it to look like a stock exchange where everyone's on the phone yelling and it's just just a cacophony of
business deals going on that I would pay for even in economy you know I just want everyone closing I just want to be around winners basically winners yeah I don't want to be around a bunch of people reading books yuck Jacob Andreu he's been on the show before he says the AI bottleneck is productization couldn't agree more we need more products we need more rappers just uh forget so you know the
podcast no prior probably the best and uh one the best probably like the best AI specific podcast in the market right now their last episode I believe it was the founder of coher which is the Canadian aen Gomez guy D out technology brother there we go I didn't know he had oh he's been on fantastic fantastic fits great we should cover more grip guy no way interesting
fantastic he basically made a point in his last uh in in this last episode on o priors where he said that it almost doesn't even matter to the technology industry if like llm advancements sort of slow down because there's still so much product to build like in everything from Healthcare to Legal this was the Leopold a runner thing was just un hobbling like the UN hobbling even if
even if we're flatline on the actual IQ of these models just just figuring out the right interface for them to interact with PDFs and spreadsheets and all these different tools piecing all those together so one master you know mixture of experts model can route things properly and immediately have at its disposal I mean the one of the biggest chat GPT uh like improvements was when
it got the ability to write python run that and then do math because everything had to be memorized and so you could ask it some pretty solid math questions and it would just guess it correctly because it just memorized like oh yeah 100 times a thousand is 10,000 it would just know that but now it can just say oh this is a math question let's throw it to python boom and that just adds so much adding
the web browser was big adding you know all these different image Transformations but they need to all be together they need to all be yeah and the early stage Founders out there there's so much to build and the big the big the big question is you are not just competing with other startups or other companies in your YC batch you're also competing with all the big companies who
are moving extremely quickly on all these product opportunities so um don't sleep don't sleep uh Zack Weinberg says some things I've noticed most great Founders do one write clearly topic sentences fewer words all useful the writing says the Insight no thinking required two speak clearly no qualifiers always reiterate the so what of any point three constant balanced risk
reward analysis four always on top of their email five follow processes best practices for most things but quickly break the rules when something exceptional requires it what do you think I think weite this for you know our our take on it yeah number one dress well number two have aie have three pedals yeah drive a manual with a naturally aspirated V8 uh now here's the thing the number
one job of a CEO is is objectively to communicate you're communic communicating to customers investors employees media and if you're not good at that you better have somebody that's is basically living with you that is really exceptional at it and you better figure out how to do it well because if you can't communicate to a customer why your product matters or why they should
switch to it or why they should use it you're going to struggle if you can't communicate your vision to investors you're not going to be able to get the capital necessary to build your business if you can't communicate to your team through the good and the bad you're going to have a tough time and then if you can't communicate with the journos who are going to be coming after you and
you can't make them spin a hitpiece into being beneficial for your business going to have a tough time so Lear learn to talk learn to write like there are a lot of Founders who get into entrepreneurship because they're inventing or Engineers or technologists but all of these ideas that Zach is propagating are learnable especially if you have a mathematical or techn
technical mind you can learn to write clearly from and you can and you can see it as a type of programming even if you're just an obsessed programmer and that's what a lot of the generational CEOs have done yes they may have started as Engineers but they eventually learned to see everything that they do through the same lens and apply that same it uh Improvement to these yeah and this is
this is actually one of the big issues I see with the generation that's currently in college right now that got access to chat GPT Y is they're not fundamentally learning how to write they're only learning how to basically edit so they're saying like hey I want to say this thing and then they're kind of editing it to maybe remove like delve and like other words that that make it
obvious that it was AI generated but fundamentally like communication is the core skill set of any sort of White Collar yeah Endeavor Endeavor sure yeah good advice from Zach love him go subscribe to his podcast this won't last Leo Petes says people over undervalue various pedigrees Harvard MIT are great but not that rare approximately s approximate sizes of
categories over the past 25 years first 100 employees at a unicorn 150k Harvard under 40K Harvard NBA 20K unicorn founder 3K teal fellow 300 us math Olympiad team 150k PE unique worldtimer from Tech Philipe no 150 there are only 150 us math Olympia yeah you said 150k oh sorry 150 uh like unque owner there's only five of those exactly um yes uh interesting and I mean it speaks to the recruiting
strategies of 30 under 30 300,000 per year how many actually are there there's there's the reason that it used to be yeah it used to be more significant because I don't think there was categories like 30 people it's funny he didn't even include 30 under 30 yeah yeah yeah I mean it would have broke the Tweet there would have not been enough characters if you if you didn't like
really abbreviate it yeah um no I think the key is like you know I uh there is some value in the signaling of getting in some of these buckets right depending on what you're trying to do in the world because there's if you have all the time in the world to explain to somebody what you're doing and why they should care about you and why they should back you and all these
different things a shortcut to to trust is I was a product manager at Uber y that legitimately works it still works I was a I was a PM at meta I was you know uh mobile engineer you know for for Google or whatever it works so it's all stack ranking and so if you're going to go in a stack somewhere get to the top yeah so if you're going to do an MBA go
to Harvard Y and if you're going to drop out of college do a teal Fellowship there you go and if you're good at math win the Olympiad simple bow tide bull says you can reduce the cost of private jets significantly by going to flight school and learning how to fly a midsize jet information for research purpose purposes only of course and bow tide tiger says done long ago for research
purposes of course is this D play with the flight lessons does he just want to be able to fly no I know I know he flies his plane all the time but but uh is his play to just you know eventually go up to the 650 ER maybe wasn't that what the the the kennedies did and they had a really bad go of it one of them died right because they I think they could fly their own well those kennedies have
a sort of special knack for getting into freak accidents too so I would not probably want to be on public you know uh planes I mean even I wonder how much it actually reduces the cost because uh if you're flying a mide jet you still need two pilots and so yeah you're cutting your pilot cost by in half but you still needing I think he's implying that you and your boys all all get you
the basically the whole group chat should be able to fly a midsize jet yeah but I mean man what a you got to draw the the short end of the straw you're flying instead of drinking in the back yeah no Dom for you today no D no you're be depending on how long the flight is somebody could you know I mean some of those flights are brutal like I I I know
a guy who has this who has like a assassa type plane and flies it and he was like oh yeah like it was cool for a little bit but then like where you live in San Francisco we want to go to La that's like a five hour flight now or something because it doesn't go as fast as like a jet and maybe not five hours but it's like very slow very beautiful but does get boring and you sleep for a
little bit but it is kind of hassle no it's like one of those things like if you're going out for a Sunday drive yeah you could do the same route that you do Monday and it's more enjoyable CU you're just like doing it for fun but then if you're flying your little Cessna to a meeting you're like okay I can't do email really I'm like you know up in the air I have to be locked in yeah we did
fly from LA to San Diego and back and that was fantastic because we went out to Catalina Island flew around the island and like it was very Scenic and very beautiful um but yeah as as a commuter it can be a little rough I think Delian flew it all the way across the country at one point which is the crazy thing though with with with small aircraft is if you talk to any pilot
yeah that has flown a lot in like a Cessna type plane they will tell you these harrowing stories of how they almost like completely like you know storm came through last second it was dark and I was running out of fuel it's like every number one cause of of crashes is uh VFR rated Pilots in IFR conditions so VFR is visual flight rules and IFR is instrument flight rules and
if there's bad weather you can't rely on visuals because you can't see stuff like dark rainy cloudy any of those things and so the the the the the tip is to always go for the IFR certification as fast as possible even though it takes like 10 times as long because that and then only fly in VFR because the number of crashes that happen with IFR certified pilots in in VFR conditions is
like zero yeah but it's when you get caught and then there's a mountain and you don't see it yeah and think about how many times a year you walk outside and you're like oh I didn't know it was going to rain today I can't even remember to put on sweatshirt half the time you know it's like it's very very tricky yeah so you don't but when's the last time you wore a sweatshirt yeah
exactly uh Sam Lon says you should always fund Revenge companies this was a controversial post uh he does one of his screenshot essays he says I was thinking recently about Parker con Rippling and I think there is a clear answer yes when given the option fund Revenge Revenge isn't polite and if an entrepreneur is blind with rage to the point of deep irrationality then no don't fund their
Revenge but on the margin in general if you have you if you have in your due diligence checklist is this a form of deep Revenge then the answer is yes cut the check experience expertise and motivation are key vengeful people can be unbalanced irrational and blind you probably don't want to fund Revenge the day after someone is wronged when they are in a fit of rage but let the stew on
it and if they get to a John Wick like Zen state of commitment to long-term Vengeance against those that have wronged them write the check yeah I like this generally it's the chips in shoulders put chips in Pockets thing re re par Parker's the best example right because Palmer too Palmer yeah but no but but with with but rically the dnic no the same company the dynamic between
Sachs who went on to become like one of the top Enterprise SAS investors to then go build the most important Enterprise SAS company or one of the top three of the last decade and then execute so well against it to the point where Sachs like probably half his companies use ripling and he's got to like deal with that every single day and you can see it with
Elon with the the the story about SpaceX where he go goes to Russia tries to buy the ICBM and I think they literally spit vodka in his face there's some story about that um Ashley Vance like wrote about it in the book and and uh and and you know he's clearly been extremely motivated by that also just like all the PayPal drama and the drama with seoa like it's been incredibly motivated it's
great that they've healed the the the the wounds at this point but uh that was clearly very motivating at the early stage well yeah and elon's La you know the the election cycle was like a Revenge election cycle for him which was like if you're going to spite me he got sued by democrats and didn't get invited to to thing which is crazy you could just see like the fork in the in the
road of history there um will had a funny take on this uh which was that you should only you know should the generational companies are only built on love love and forgiveness love and forgiveness so is true it's more any let's let's have a a YC you know uh Focus fun that's focus on love and forgiveness and one that's focused on Revenge and we'll get a nice sort of
like case study on yeah well I mean I do think that there is something to that forgiveness and you've seen it with Palmer where he forgave The Meta exacts did you see this so he was famously very anti meta for a very long time because of all the drama around Oculus um but recently he went to meta HQ tried the latest VR headset the Orion headset and kind of forgave boss and said look I I
Now understand like you weren't really involved this level like we can get past this and and he's rooting for Zuck now and that was just like awesome to see like the technology Brothers coming together respecting each other and moving on together for like a shared purpose not J not J needs to apologize he still hasn't apologized it would be so easy at the
Allin conference just to be like [ __ ] like dude like the next the next all the next all-in Summit should have two therapy sessions which is which is uh Sachs and Conrad and uh jcal and it would have been so easy for for jcel to apologize and like win that interaction it's so sad jcel would do the McGregor which is like I want to say sorry to all the Brazilian people for absolutely
nothing I want to say sorry I want to say sorry to Palmer for absolutely nothing oh my God for absolutely nothing yeah J oh man you got to do it BR do we have another promoted post promoted post uh from uh longtime uh you know guest on the show sheal he says a lot of new projects in Saudi Arabia are so futuristic that they look AI generated this one is a new
five-star Resort in the Red Sea called shabara Rooms start at $2,400 no alcohol so anyways I thought uh you know even just looking at this image alone I'm sold next uh next trip yeah so if you're fundraising if you're raising a large uh a large Venture fund you're out in the Middle East we can't recommend shabara enough tell them the technology Brothers sent you it's only
2400 a night and there's no alcohol so you know you're going to be sharpen those pitches yeah that's that's a huge value ad and all you know all I would say is there's this idea that you know Venture capitalists just stroll into Saudi Arabia and leave with a you know billion dollars committed not the case you're going to want to make sharrow your home multiple trips there go out
there uh get friendly with the staff you're going to be seeing them a lot and um leave your pitch deck around people just find it you know the centel's high top tier there so y uh that's one of the greatest strategies let's go to busted auction they say PE owned dentist recommending two procedures for my happy healthy 12-month-old called dentist in the family and said
nfw I don't get a point of taking a todler to a dentist they're all going to fall out anyway to me that's kind of like saying I don't know why I should be healthy I'm doing I'm going to die anyways he has 12 teeth and four MERS and wanted to check out tongue and lip stuff the pediatrician called out interesting so we love Equity but it seems like they might have gone too far
with this one yeah y little bit aggressive no I think leave K alone this actually we were just you know covering Sam Lon but slow has an entire thesis on enabling private practices because they end up being really great businesses not because they're constantly trying to add incremental net income be but because they're trying to basically like deliver just a great long-term service to
customers yep and yeah I think this is like the dark side of applying like PE sort of like growth Milestones to Family Dentistry um so anyways I support the LPS of that fund I support the fund itself the uh you know the partners and all the associates that are you know working hard in models late at night working for their half a point of carry I support them but uh you know tell your
tell your um CEOs to dial it back you know maybe settle with 40% annual sort of growth you don't need to go for 60 um and be recommending a bunch of you know putting kids under just to get that extra dollar out yeah yeah maybe just increase the leverage a little bit Yeah lever up lever up more significantly uh let's do one more promoted post and then we'll do our final time this promoted
post is from our friends over at Goldman Sachs Goldman Sachs says one of the major uncertainties going into 2025 is whether we'll see border broader tariffs our chief APAC Economist Andrew Tilton breaks down the implications of potential trade restrictions on the region in CNBC so we love uh when major financial institutions like this is why you should be working with Goldman Sach
whether you're taking your company public looking for uh ultra high net worth private Asset Management uh just investing or choosing to work there we strongly support Goldman Sachs and whether are a active you know client or you're working on them with an IPO uh they put out a lot of great materials on markets that's free right so you could be building the next billion dooll chat
gbt rapper you can still get a lot of the same data that you would be if you were uh you know just going through an IPO with them so so go become a client of Goldman Sachs and tell them the technology Brothers sent you let's go to carnivore aelas he says driving an expensive sports car boosts men's testosterone and driving a shitty sedan reduces it maybe you should buy that
nice car after all and he quotes a study that says the effect of conspicuous consumption on men's testosterone levels you know this is not correlation this is causation we know this is true and so and that's why we created the 1% law exactly exactly you shouldn't need to say it every show but I think it's still worth saying if you're Venture capist take 1% of your aumens a sports car today uh
just just send us a DM uh tag us uh write a post we'll react to it we've been helping a capital allocator recently who was looking at Aston Martins wasn't really sure thought she was going to get into a dbx we recently recommended a Volante uh we we we have a few different options and we can find something that's right for you in this case it was a convertible it was red it
was one of one of 700 and she liked it and I think I think she's going to really Drive some performance there and any technology brother any self-respecting technology brother should be driving a very expensive sports car and this is part of a broader you know cultural and political movement to clean up SF so we can Street Park supercars in SF which is going to be key
to the really like the acceleration of movement in AI I agree if you can't Street Park supercars how are you going to drive returns how you you can't accelerate on your way to work how are you going to accelerate when you're at work there you go that's a great place to end our show thanks for watching subscribe or be relegated to to a life of flying netjets thank you no suits