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TBPN is a live tech talk show hosted by John Coogan and Jordi Hays, streaming weekdays from 11–2 PT on X and YouTube, with full episodes posted to Spotify immediately after airing.
Described by The New York Times as “Silicon Valley’s newest obsession,” TBPN has interviewed Mark Zuckerberg, Sam Altman, Mark Cuban, and Satya Nadella. Diet TBPN delivers the best moments from each episode in under 30 minutes.
Good morning. Thank you for being here.
Speaker 2:Everyone's dressed up. Jordy, of course.
Speaker 1:Look. And it was it was pretty hard to top last year. Yeah. We went pretty hard. So we kinda...
Speaker 1:I know we phoned it in a little bit this year. Yeah. But we did our best. Yeah. Did our
Speaker 2:saying, like, the tailoring wasn't perfectly
Speaker 1:Yeah.
Speaker 2:Identical, but I think we got close. Let's take a look over at Tyler. Did Tyler get a chance to put on it? Know. Is that Greg Abel?
Speaker 3:I know. Didn't recognize me.
Speaker 2:Of course, people recognize you. You're the most iconic of everyone here
Speaker 3:The successor.
Speaker 2:Around the table.
Speaker 1:The best part about Halloween?
Speaker 2:Yeah.
Speaker 1:Christmas is right around the corner.
Speaker 2:Exactly. Exactly. Exactly. Same number of days every year between Halloween and Christmas. There are
Speaker 1:Here
Speaker 2:we fifty five days until Christmas. Mark, it's five years old. Our guest from last year, of course. Fantastic. Well Oh, boy.
Speaker 2:Absolutely.
Speaker 1:We got a fun show today. Yep. Chaos in the markets. Yeah. I mean
Speaker 2:Bloodbath.
Speaker 1:Bloodbath out there.
Speaker 2:Some people are being fearful.
Speaker 1:Most people, I would say, are fearful.
Speaker 2:It seems like that.
Speaker 1:That made me start feeling a little greedy. Let's leave it on this... Let... Let's take a look at let's take a look at John here. I mean, John John, lean back.
Speaker 1:Yeah.
Speaker 2:When I lean back, it's really
Speaker 1:Just incredible, incredible work. This is only possible in Hollywood.
Speaker 2:I know.
Speaker 1:Know. AI could never do this.
Speaker 2:No. No. And and it is Never. It feels like next year, the AI will be so good. More people will be be skeptical.
Speaker 2:But we started in the pre AI era, so you know it's real. You know, we're we're
Speaker 1:we're sticking We're
Speaker 2:sticking with it.
Speaker 1:We were we were here at the studio at 6AM this It took just under four hours to get suited up.
Speaker 2:But let's give it up for the team that helped us
Speaker 1:with this.
Speaker 2:It was really incredible. Look at that, Greg. Greg is looking great. Good. Early white teeth too.
Speaker 2:Did they get veneers or those are natural teeth?
Speaker 1:That's just All natural. All natural. All natural. Serious. Greg, you look fantastic.
Speaker 2:And you've been working on your Greg Abel impression. Can you give us a little bit? A little taste?
Speaker 3:Hey, guys. It's it's me, Greg.
Speaker 2:That's about a lot, Greg. That's amazing. You nailed it. You nailed it. Yeah.
Speaker 2:Yeah. So these are gonna clean clean up and trick or treating later. You go around in these. Well, the market's all over the place.
Speaker 1:I FaceTimed.
Speaker 2:Yeah.
Speaker 1:A friend of the show. Yeah. And he said, don't wear that out later. You're gonna scare people. Yeah.
Speaker 1:Yeah.
Speaker 2:You look so much as Warren Buffett. It's just Crazy.
Speaker 1:It's it's unnerving.
Speaker 2:Really is so so funny, especially when you get the moves going.
Speaker 1:Should we see how you hit the gong?
Speaker 2:When you start moving like a young guy in there, it's good. Oh, you're stuck. Oh, his back's going out. It was an older guy, older gentleman on the on the set. Let's see let's see a gong hit for old Berkshire.
Speaker 2:The stock is up, by the way. Everything's everything's down, but Berkshire's doing great. It's a $1,170,000,000,000 company. To everyone everyone over in the Berkshire Hathaway universe
Speaker 1:Absolute Bloodbath.
Speaker 2:These young whippersnappers in the
Speaker 1:market today.
Speaker 2:Market, but Berkshire doing well.
Speaker 1:Only company that I've found
Speaker 2:Yeah.
Speaker 1:That's looking green.
Speaker 2:Is this gong ringing longer than usual? Does it always ring?
Speaker 1:It was just a strong hit.
Speaker 2:Strong hit. Strong hit for mister Buffett. Well, The US economy is up, interestingly. The The US economy grew 3.4% this summer. Consumer spending, business investment powered the fastest expansion in a year, 3.4% annual rate.
Speaker 2:The latest reading of gross domestic product, the value of all goods and services produced across the economy beat analyst expectations. They were expecting 3.1, came in at 3.4. The report from the commerce department is the last major accounting of The US economy before the midterms election... Midterm elections on Tuesday. So a big referendum on do you vote GDP numbers, or do you vote stock market numbers?
Speaker 2:A lot of a lot of voters have their wealth in the stock market, and they're they're seeing a lot of red today. So Well,
Speaker 1:of course, I think voters care more about vibes than anything else.
Speaker 2:Yeah. True. And the vibes are down. The Nasdaq is down something like 3% today. Let's see.
Speaker 2:3.34%, but the Dow is also down 1.13%. There... A a lot of it has to do with earnings. We talked about it yesterday, but Google search struggles reignite AI anxiety. They suffered the worst day on record Thursday as investors confronted the reality that a company that has long been a dynamo of growth and profits faces painful trade offs in the artificial intelligence transition.
Speaker 2:A headline that could have been written three years ago, but is now being digested in reality in a data backed way, because the first three years, everything's continued to look like business is normal. And that's the nature of these technology trends. It takes a while for it to actually show up in earnings. There's a lot of inertia in every business in the economy, even if you're high growing tech... High growth tech company.
Speaker 2:The slide erased...
Speaker 1:Still gotta be painful. Obviously, Berkshire Yeah. Recently
Speaker 2:Backed up the truck.
Speaker 1:Backed up the truck. Yeah. For Alphabet, but for good reason. There's a lot of ways that they can be an AI winner. Yeah.
Speaker 1:They sell great chips. They, have, you know, an incredible cloud business. That's also lot of they have a frontier ish lab. Yeah. But, yeah, it'd be interesting to know what what the business would be trading at if they had revenue ramp from their own model.
Speaker 2:Sure. Sure. Right? Yeah. Yeah.
Speaker 2:Yeah. So, yeah, on the front page of the of the journal, you got Google search struggles, reignite AI anxiety. They're losing 500,000,000,000, and and, you know, their earnings analysis is here. But on the back of the business section, business and finance section, you have... Alphabet can still win in an AI pullback, more of a bull case, saying it's the closest thing in tech to a one stop AI shop with a frontier model, a fast growing cloud computing business, a major in house chip effort, and large core advertising businesses.
Speaker 2:They are diversified across the AI stack, and so that could be a cause for optimism even among some jitters in the market.
Speaker 1:Well, yeah. We gotta talk about Binance.
Speaker 2:Okay.
Speaker 1:They had a rough one yesterday in the journal, how Binance is racing to cover losses in the biggest heist in crypto history. We will weather this storm, the company says as it taps reserve funds and its founder gets into a confrontation on X with Elon. Binance executives are racing to cover billions in losses from the biggest crypto heist in history. A breach that blew past everything the exchange had set aside to cover such an incident. So they've had a fund set up that had roughly a billion fund?
Speaker 1:Yeah. Safu.
Speaker 2:Secure asset fund for users. Yeah. Set it up for exactly this.
Speaker 1:They were sort of planning for a worst case scenario. Turns out the worst case scenario.
Speaker 2:Was three times or six times what Much they were planning
Speaker 1:greater. The hackers plundered 6,300,000,000 from the exchanges digital wallets by breaking into a Binance engineer's laptop among other breaches, Binance said. So yeah, I think a big question that everyone has is like, how is it possible that, like
Speaker 2:A single engineer needs
Speaker 1:to be Single point of failure.
Speaker 2:Think it would be a number of you would think it would be a number of of engineers that need to all sign off on something like this for that much money to move. You know, even sending a wire these days from a traditional bank is usually a couple phone calls, two factor. There's a bunch of different stuff that needs to happen. It's rarely just one person signing off. But,
Speaker 1:anyways, stablecoin issuers, Tether and Circle along with other crypto firms managed to freeze about 3,000,000,000 of that sum leaving roughly 3,300,000,000 under the hacker's control. Binance has had, has an emerge. There's some questions around that too. It's possible that they were able to take a loan out against those assets and so the assets are frozen now but they already got some more liquid
Speaker 2:Oh interesting. Frozen assets. Okay, yeah, yeah.
Speaker 1:So Still happening in real time.
Speaker 2:Was live tweeting about it saying that, you know, he has some SpaceX stock that he can sell off. There's assets around.
Speaker 1:Well, he was saying that because Elon was not not being the most friendly in
Speaker 2:the context of. Well, I mean, Elon was calling it like it is. It's a really bad hack. Yeah.
Speaker 1:But the hack attributed by cybersecurity researchers to North Korea's Trader Trader Hacking Group has rattled the overall crypto market knocking down Bitcoin's price. This means the emergency fund is already a 100,000,000 lower. You would think... You would almost think they would keep the emergency fund in good old fashioned...
Speaker 2:USD?
Speaker 1:USD or a more diversified basket of assets because it is kind of predictable that like...
Speaker 2:You'd go after that.
Speaker 1:If there's a massive hack, crypto will trade down. You don't also want your
Speaker 2:Yeah. But if the market goes way up and then you get hacked, you haven't actually appreciated. So, yeah, it's a trade off. Interesting. So if 3,000,000,000 does make it to North Korea, that's like 5% of...
Speaker 2:Or almost 10% of their GDP. Their GDP in 2025 for all of North Korea was 26,600,000,000. So that's, like, pretty material to the country, which is pretty crazy to think about. High stakes in the in the modern cybersecurity era era. Tyler, did you see anything else...
Speaker 2:Any other interesting details about what happened with this hack, like, technically or any other color that you wanna add?
Speaker 3:I I haven't seen anything specifically about like how it actually happened but I I do think it was interesting that like Bitcoin only went down like a few percent. So in 2014 when Mt. Gox got hacked, I think in like the two weeks after Bitcoin price went down like, I think it was like 25, 27%. It's kinda surprising that it's it's really like, you know... Yeah.
Speaker 3:It's like, you know, almost 4%
Speaker 2:Yeah. Over the past only five days. 4% of the past five days. That's like Surprisingly. That's better than SpaceX, better than
Speaker 3:Yeah.
Speaker 2:You know, Google, for example. It's... Yeah. It's... That that is interesting that there's so many people that are still holding.
Speaker 2:It kinda shows you that the median the median holder at this point is maybe more along self custody, maybe more along, you know, less less worried about the the... What's going on with the centralized exchanges. What you got for me, Warren?
Speaker 1:Anyways, let's look at this response. Yeah. So Mert is saying he just wants one boring day. All he's asking for. CZ said, Elon, I have a lot of respect for you, but bad time to be a troll.
Speaker 1:He was commenting emojis back. Please stop. Our SpaceX shares are worth more than 1,000,000,000. Would appreciate if you show a little support. Thanks.
Speaker 1:I think that's a fair, fair stance.
Speaker 2:Wait. Which one? I think the Elon reaction's a fair stance.
Speaker 1:I don't even think he's he's not
Speaker 2:doing He's not doing crying laughing.
Speaker 1:He's not
Speaker 2:He's doing the, this is really rough. He's doing the...
Speaker 1:Yeah.
Speaker 2:I don't know. It didn't... This doesn't seem like him like totally grave dancing in
Speaker 3:this
Speaker 2:in this this way.
Speaker 1:And then someone over at Binance says reporting to the major shareholder. Of course, time that's easy. Our company's revenue for the year is sufficient to cover the losses. So we don't need to sell the SpaceX shares you are bullish on.
Speaker 2:So I
Speaker 1:think, of course, I think CZ was making more of like a
Speaker 2:Yeah.
Speaker 1:A bit more like a like a regret.
Speaker 2:That's what Merck called it. Full stack dump, the shares that helped him buy eggs. Murd goes on to say, Normies aren't aware yet, but we're actually living through the movie Terminator at the moment for cybersecurity without exaggeration. Just absolutely relentless revenge of the machines. Revenge of the...
Speaker 2:But North Korea's in charge of these machines in this case. Like, this is not a rogue swarm. This is not an accident by storm.
Speaker 1:Some pretty interesting people have been posting graphics Yeah. Of, like, all the all the the stolen funds, like, how they've been moving. Mhmm. And it looks like an insane spider web Yeah. Only a...
Speaker 1:Only like...
Speaker 2:Only a machine could could understand. Yeah. I mean, full employment for the the chain analysis team and some of the other folks like the crypto fraud prevention groups. There's a bunch of these.
Speaker 1:Over in Intel land, Intel looks like it's trading like they just had a $6,000,000,000 Yeah. Heist. Incredibly rough. They're down more
Speaker 2:than 22% now. Right? Or have they bounce back a little bit? Where are they?
Speaker 3:Down
Speaker 2:3030% today. 27% over the last five days. Still a $336,000,000,000 company, but totally round tripping. The The big jump in Intel started about a year ago with the investment by the US government and a lot of optimism around hyperscalers starting to buy from Intel, use their fabs, jump all at the same time to you know, get the fab off the ground. The stock is pretty close to where it was before all of that started.
Speaker 2:March '20 March twenty seventh of this year, it was $43 a share. Now it's $63 a share, but that's down from a high of a $140 a share. So it's down 50% since the peak.
Speaker 1:Nick Dorsey says, I actually can't believe how bad that Intel call was. I just finished listening to it. Lip Bu sounded lost. Rough. I didn't even know what to think after that.
Speaker 1:That seems to be resonating. Even Jim Kramer says, yes, I am disappointed in Intel actually furious
Speaker 2:Mhmm.
Speaker 1:About it.
Speaker 2:Yeah. Kramer's not happy.
Speaker 1:Yeah. No one's no one's happy.
Speaker 2:Yeah. I saw some viral Instagram. Someone being like,
Speaker 1:This is a company that people people want Intel to win. Totally. Like it's this is it's it's losing money sucks, but also we want Intel to be a great company. Yeah. And, again, Lip Bu has his work cut out for him.
Speaker 2:He does.
Speaker 1:You laughing at me?
Speaker 2:I'm laughing at the way you look. It's ridiculous.
Speaker 1:You're laughing at the way I look. Just
Speaker 2:such a ridiculous thing to look
Speaker 1:at. Know, when I, when it, John and I were facing each other this morning.
Speaker 2:Yeah.
Speaker 1:And I was just having these visions of the future when we're eighties, nineties, etcetera. Yeah. And we're still gonna be here. Yeah. We're still gonna be doing this.
Speaker 2:We're not leaving.
Speaker 1:We're not leaving. We're
Speaker 2:not leaving.
Speaker 1:Gonna retire on the mics.
Speaker 2:I believe the the amount of money that was stolen from Polymarket wallets was 3,000,000. So, this isn't wired. Trading has resumed on Polymarket's flagship international platform already after a hack that drained money from wallets of some traders. Third party vendor based in The UK was breached, not the prediction market's website itself. Law enforcement in The UK have been notified of the incident.
Speaker 2:Trading was initially paused while the company investigated for several hours. That's gotta be really disruptive because some people are like, this is resolving right now. I would have sold in the next thirty minutes, but not in the two hours point. So I'm sure there's going be a lot of people that are upset. But still, it seems like they got through it.
Speaker 2:700 users appear to have been affected with approximately 2,700,000 stolen. So be safe out there if you're on
Speaker 1:one of mean, the craziest time ever to be any kind of financial institution. Like you have to be, I mean, especially digital assets, right? Because there's much less recourse. Yeah. But, but yeah, you have to be operating in total fear right now.
Speaker 1:Yeah. And I look at this and even, you know, dress the way that I am. I don't even think about getting greedy on a lot of these news.
Speaker 2:So I love it. Well, Minecraft creator Marcus Person Notch, if you know him from Minecraft. Do you play Minecraft growing up?
Speaker 3:Yeah. Of course.
Speaker 2:You're big Minecraft guy?
Speaker 3:Yeah. Yeah. That was like my...
Speaker 2:It was your childhood?
Speaker 3:That was peak. Yeah. Yeah. Peak?
Speaker 2:Sixty years ago. Something like that. The way Tyler laughs, there's so much on your face with the prosthetics. It's really it's really fantastic. But so the the creator of Minecraft Minecraft, you know, it's kinda solo dev story, sold it to Microsoft for billions of dollars, got a ton of liquidity, and moved to LA and was like, I'm buying the most expensive house in town.
Speaker 2:And so he outbid Get the castle. Get the castle. Exactly. He outbid Jay Z and Beyonce and paid a record at the time, 70,000,000 for Beverly Hills, California spec home. I feel like the market in Beverly Hills, like, 70,000,000 is closer to median now at a certain tier.
Speaker 2:There are... We've seen houses go up for 200,000,000. There was the one that was trying to get $500,000,000. It's not uncommon to see properties up in this territory. But back in 2024 or 2014, actually, back in 2014, 70,000,000 was record breaking, and it made the headlines because he came in and swooped in.
Speaker 2:Jay Z and Beyonce wanted it, and he said, no. I'm I'm outbidding you. So he got outbid. But, yeah, in the years that followed, it was a unique home because it was the most expensive. It kind of lost that superlative as developers came in and built built built bigger and pricier homes.
Speaker 2:I've actually been to this house. It's really, really crazy. There's a room dedicated just to candy. There's a there's a music studio, but I don't know if they have the candy room here because Nothing. Nothing.
Speaker 2:The candy room is one of the craziest things that it it shipped with. Like like, the developers were like, let's put a candy room in this thing. And it might it might have gotten taken out at some point. It doesn't look like it's in these pictures. But it's very crazy.
Speaker 2:He would throw these, like, huge parties in LA and and, you know, try and, you know, they would all be themed. I went to one that was, like, Mars themed or something. Everyone was in, like, astronaut suits or something. It was like a... It's a it's a perfect entertainer's house, and so he had a lot of fun.
Speaker 2:Had, like, the garage with the glass so you can see the cars through it.
Speaker 1:Tyler's asking, did you... In the chat, did you see any See's candy when you're in the candy room?
Speaker 2:No. Not a lot of See's... Oh, maybe unboxed See's candy because the whole conceit of this... Of the candy room is that it has these these silver tunnels. Let me see if I can actually find a Notch candy room.
Speaker 2:Yeah. Boom. Right there, guys. Pull this one up. Yeah.
Speaker 2:It has these, like, tubes that you fill with the raw ingredients or, like, with the packaging. So you actually can't really see the brands. You see the story on the left there? Maybe zoom in a little bit on the left and you'll see that's the wall of candy. So you can go there and just create whatever
Speaker 1:Look at that.
Speaker 2:Bag of candy you want. There's a bar with a bunch of TVs down there, and I believe some some... There's some other crazy feature where it has, like, something giant wine cellar, home gym, 16 car garage, and then the enormous candy wall, of course. There's something else, but I don't remember. But, anyway, this is where where would you put this home?
Speaker 2:What tier are you going?
Speaker 1:S tier.
Speaker 2:S tier.
Speaker 1:But it's it's gotta tear it down.
Speaker 2:You gotta tear it down. You gotta tear it down. How can it be s tier?
Speaker 1:Well, no. It's clearly, you know, incredible piece, you know, property.
Speaker 2:You you you calling it s tier makes no sense. You should call it f tier because you still live in No. But I think I think
Speaker 1:that I the actual dirt matters more than anything.
Speaker 2:Okay. So you would build a, like, a 1,500 square foot two bedroom home to mimic your Omaha, Nebraska property?
Speaker 1:I think so.
Speaker 2:Something like that. Something a little more humble, but in the same footprint maybe.
Speaker 1:Crazy.
Speaker 2:In the same footprint.
Speaker 1:John, take a look at that public ticker. They're calling it out in the chat. What we got? It's a Bloodbath out there. Is a Bloodbath.
Speaker 1:2%. Microsoft, 2%. Nvidia, almost 6%. Amazon, almost 3%.
Speaker 2:Hathaway on there. Is Berkshire Hathaway not on the ticker yet? Can we add Berkshire Hathaway to
Speaker 1:the 6%. And where's Meta at? Meta is, only 2%.
Speaker 2:So they're holding up. They're doing well.
Speaker 1:They are holding up. So
Speaker 2:Yeah. I kinda wanna do, you know, Buffett themed ad reads. Your business is mumbo jumbo. Their business is mumbo jumbo. Their business is securing your mumbo jumbo.
Speaker 2:CrowdStrike secures mumbo jumbo and stopping breaches. Warren Buffett, we got some breaking news here in Business Insider. This actually dropped today. It's not every day you get some breaking news about the Oracle of Omaha, but we do have one. Warren Buffett hasn't had a glass of water since at least the nineteen seventies.
Speaker 2:Can you believe this? Is that real? This is real. So so Business Insider is reporting on a conversation that happened between the 96 year old business icon, Warren Buffett, and Bill Ackman. This is what they what they recall during an episode.
Speaker 2:So Bill Ackman and Warren Buffett had a conversation a long time ago, and then Bill Ackman brought it up on a podcast and said, oh, I remember I talked to Warren, and he said he hadn't had a glass of water since the seventies. So Ackman said that Buffett came over for a dinner at Ackman's house years ago, and he'd made sure to stock up on the legendary investor's favorite drink, cherry Coca Cola. Cherry Coke. The Pershing Square founder, that's Bill Ackman, CEO.
Speaker 1:Calling it Petey. Petey.
Speaker 2:Yeah. Yeah. Yeah. It's true. We said that once they were sitting at the table, he asked Buffett whether he'd like still or sparkling water.
Speaker 2:Like, I have your I have your Cherry Coke, but do you want still or sparkling before you get into your soda? And Buffett politely declined, opting for his preferred soda instead. But I said, you know, don't you drink water? Ackman recalled. And he said, Bill, I haven't had water in forty eight years.
Speaker 2:That is remarkable. Equipped that in 2025 or 2015, he was one quarter Coca Cola as it accounted for 25% of his daily calories. That is extremely peedy. Not drinking water might sound unbelievable, but but Buffett, who retired as Berkshire Hathaway's CEO after sixty years, Greg Abel took over. Let's cut to Greg.
Speaker 1:There he is.
Speaker 2:Still going strong. Spitting image over there.
Speaker 1:How do you feel, Greg?
Speaker 3:I'm feeling great. I'm ready to to be here for another forty years, know.
Speaker 1:Mhmm. No. But Tyler on a personal level, how do you feel? Because the last year last year was about one hour in. I felt like the walls were closed.
Speaker 1:Like you really feel like you feel there's a lot of layers that like one of these outfits is like It's like a deep water.
Speaker 2:It's a
Speaker 1:lot of pressure. Yeah. They're taking you to deep water here in Hollywood. It's a lot of pressure. It feels very intense.
Speaker 1:Yeah. I almost I almost had to get up and leave, but then I just powered through.
Speaker 2:At the same time, I feel like the fact that this is round two
Speaker 1:Show business above all
Speaker 2:is else. Two. I I could wear this every day now. I'm feeling confident.
Speaker 1:No. I know. Know. I'm getting I'm getting I'm I'm thinking I got dinner with some friends later. I'm kinda thinking
Speaker 2:Keep it on.
Speaker 1:Why not keep it on?
Speaker 2:Maybe the whole weekend.
Speaker 1:Why not keep it on? That friend did tell me, I FaceTimed him before this, he said, take it off. Do not come to dinner like that.
Speaker 2:He's testing.
Speaker 1:You're gonna scare people.
Speaker 2:He's testing.
Speaker 1:He's clearly testing me. So if you're listening out there, I'm not taking it off.
Speaker 2:I'm not taking
Speaker 1:I'm taking it off. I'm going out like this.
Speaker 2:We gotta we gotta surprise someone in person.
Speaker 1:Actually, so you know where I wanna go, I wanna go the val... I wanna go drive over real quickly to the valet at the gym. Yeah. And just pull up and just say say what up to the boys.
Speaker 2:For sure.
Speaker 1:Our friends over there. Yeah. I was explaining to him yesterday that we were gonna dress up and he's like, you know.
Speaker 2:Yeah. Yeah. You're throwing a special shirt. Yeah. Something.
Speaker 2:Cool.
Speaker 1:Cool stuff.
Speaker 2:We're a little bit differently around here.
Speaker 1:Let's head over to the timeline. Yes. What do we got? DoorDash. Mhmm.
Speaker 1:Well, maybe we start here.
Speaker 2:Mhmm.
Speaker 1:Philip Jackson, says, I hired Muse to sue someone on my behalf. I won while they caved. Within twenty minutes of being served papers, the company offered a settlement within ten days. They paid me with additional compensation for recovery expenses. Muse filed the motion to dismiss.
Speaker 1:This seems crazy, actually taking it all the way
Speaker 2:and... I was joking about this, where if I if I steal your drink, our agents are just gonna be suing each other to transfer like meats Immediately, something that
Speaker 1:shows Yeah. Maybe DoorDash should get into Yeah. The the serving business.
Speaker 2:Oh, yeah. Wait. They have... They they could certify everyone's process server. Yeah.
Speaker 2:And and you could just with a click of a button or over an API. Yeah. An agent could dispatch a server. I still don't understand when you need to serve someone in person versus digitally. Like, what...
Speaker 2:Like, why
Speaker 1:I think it's, like, somebody you can necessarily has to accept it digitally. They have to physically accept it.
Speaker 2:Okay. Okay. So they could be, like, out of sight, out of mind, see no evil
Speaker 1:I believe, like, if it's in person and I cert... I'm I'm like, you've been served. You can't be, like, I do not accept.
Speaker 2:Oh, yeah. I'm not aware that this court case is going on or something. Okay. I I have to appear in court.
Speaker 1:But oftentimes Interesting. Something like this in a more
Speaker 2:So incredible incredible model capabilities, but DoorDash is not seeing incredible adoption. Is that is that the two two two sides of this coin right now?
Speaker 1:DoorDash says DoorDash earnings call.
Speaker 2:DoorDash says they've only received several 100 orders in total from personal agents like Muse. They say, you're right. Everything going great with the core business. This only adds to it. Your second question was around AI agents.
Speaker 2:I would say that this is something that is still a very dynamic area. I'm reading that as like we're early. My take on these... On all things technology is you never wanna fight gravity. That's why DoorDash has an API, a CLI.
Speaker 2:Right? They're leaning in like a Walmart, like a Shopify. But at the same time, you do not wanna be delusional. What I mean by that is if you look at where AI agents are today, we are seeing maybe several 100 orders in total from some of these third party agents, and some of which you have cited in terms of whether or not paying customers or placing orders. DoorDash is interesting.
Speaker 2:Like, the models might need another leg up because tell the robot to push the DoorDash, the get burrito button is not a great use case. It's more for, like, once it learns how much you're ordering, then it can be... Like, it feels like it is not valuable to hand over DoorDash to a personal agent on a case by case basis.
Speaker 1:I just think it's so incredibly easy to order food.
Speaker 2:Yes.
Speaker 1:And people are very habitual. Yeah. It's possible that you could be a power user of Muse and not even care to use it to order DoorDash.
Speaker 2:Yeah. Totally. Totally. At the same time, I think that there are certain
Speaker 1:buttons in all the delivery apps. Yeah. It just says like reorder.
Speaker 2:Reddit is down. You saw this? Reddit's selling off. I think Will mentioned it. The the quotes from the earnings call are a little rough.
Speaker 2:Google is crawling us as hard as ever. The reality is AI mode does not drive traffic. So people go, they used to just say, site Reddit, click on the Reddit, click see some of those ads over there. Now people are getting the answer directly in AI mode. Not for us and not to anybody as far as I know, so traffic is way down.
Speaker 2:Used to be a traffic driver, now it's not. People still want Reddit, it's just Google is not sending them to Reddit the way they used to. Huffman says Reddit isn't counting on Google traffic returning. We don't control Google. We only control Reddit.
Speaker 2:And so they're going log in only. You can only use the service if you're logged in. So they're putting up a paywall basically or a
Speaker 1:It's a social network.
Speaker 2:Yeah. Registration wall. Yeah. It's a social network which Intranet. Is probably the the natural form of this.
Speaker 1:The account Odd Stats has some odd stats for us
Speaker 2:today. Mhmm. Give it to us.
Speaker 1:Odd Stats says for absolutely no reason whatsoever. Here's the list of every time in QQQ history where it gapped down two and a half percent or worse on a Friday. It's currently down almost three and a half percent following a negative 1% day. And it happened three times in 2001. Once in June 2002, October 2008, twice at the beginning of COVID and then liberation day and possibly today.
Speaker 1:And of course, that has turned out to be the case. Yeah. Crazy, crazy day in the markets.
Speaker 2:Yeah. You gotta have a margin of safety in this time.
Speaker 1:Yeah. I think so.
Speaker 2:Yeah.
Speaker 1:Never
Speaker 2:been a better time to go brush up on your your buffet and monger, understand the greats.
Speaker 1:Yeah. When your favorite holding period is forever, it tastes like today.
Speaker 2:Not really that scary. When you're in the value investor mode. Yeah. Buy something that has cash flow, has value.
Speaker 1:Yeah. Price is what you pay, value is what you get.
Speaker 2:Exactly. Couldn't have said it better myself. Yeah. Fantastic.
Speaker 1:I think that's our show.
Speaker 2:I I I think Chad was asking for a Greg Abel money spread. We wanted to see if Greg Abel was breached and in fact, he is. He looks like he is. You've never seen a Greg Abel money spread, but now you have.
Speaker 1:Got it.
Speaker 3:Ten months into the job. Breached.
Speaker 1:Yeah. The last thing I would say is is, you know, we've been joking around today, but I think Buffett and Munger are two of the greatest role models Truly. That the business community could ever have.
Speaker 2:Yeah.
Speaker 1:And as much fun as we're having, we wanted to honor them. In our own little TBPN way.
Speaker 2:A 100%.
Speaker 1:We hope you enjoyed it.
Speaker 2:So go grab a Coca Cola, go grab some C's candy, enjoy yourself this
Speaker 1:week. Sign up for GEICO. Fifteen minutes could save you 15% or more on car
Speaker 2:insurance. Freight Send on the Burlington Northern Railroad. Why
Speaker 1:not? Why
Speaker 2:not? Why
Speaker 1:not? Tyler or Greg, can you take us out with a troop?
Speaker 2:Oh, yeah. Leave us five stars on Apple Podcast.
Speaker 1:Have a wonderful weekend. Be safe out there this weekend. We love you. We'll see you Monday.
Speaker 2:And we will see you on Monday. Goodbye.