Subscribe
Share
Share
Embed
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.
You're watching TBPN. So today is Thursday, 11/05/2026. We are not live from the TBPN. We're back in San Francisco. In a bunkie.
Speaker 1:We're traveling. We're in a bunkie. No. We're in a very nice office.
Speaker 2:It was deep underground.
Speaker 1:To our hosts. And also, thank you to Ramp. Time is money. Save both. Easy use corporate cars, bill pay, accounting, and a whole lot more all in one place.
Speaker 1:We had to go to the the the scene of the crime. The stock market's down. Tech is selling off. You said? They had to go to San Francisco.
Speaker 2:We gotta get to the bottom
Speaker 1:of it. We gotta get to the bottom of it. We gotta go give some people a stern talking to. Yeah. The stock prices are too low.
Speaker 1:We're gonna sit down with them and say, hey. Figure it out. Figure it out. It's gotta go up. We we like it Buy
Speaker 2:the close. Buy the close. Buy the I wanna see momentum in the close.
Speaker 1:Yes. Exactly.
Speaker 2:I don't want... I I think we've we've... We're at what? We're down a couple trillions couple trillion. Yeah.
Speaker 2:We've erased. I always I always enjoy the 2,200,000,000,000 Oh, yeah.
Speaker 1:Erased. Erased. Kinda gives you a sense of the scale of the market that you can you can wipe out that much. The news, of course, the Nasdaq plunges 5% as investors retreat from AI trade after the election. This is a true panic, said Jay Hatfield, CEO and Infrastructure Capital Advisors.
Speaker 1:This is 100% about the chip stocks and the potential slowdown in the AI trade. Based with a potential regime shift in markets after the midterms, investors are now positioning for an easing in the data center build out, knocking chair... Shares of chip makers and data center suppliers hardest. What's interesting is, like, this was something that was talked about... The prediction markets were predicting in blue wave days before the election, weeks before the election.
Speaker 2:But not Texas.
Speaker 1:Not Texas, but then still, even on election night, people sort of knew. And by yesterday morning, people knew that Texas was blue because people found out that Texas was blue and Greg Abbott had lost midnight at the latest. You could wake up and start trading it. So there's still some digestion and still some discussion that needs to happen before people start moving to really big positions.
Speaker 2:Yeah. In, you know, in an era where the market will move hundreds of billions or trillions off of purely
Speaker 1:Yeah.
Speaker 2:Seemingly algorithms Yeah. It's very interesting that you have this sort of very delayed onset. Right? Where clearly people yesterday were like, we gotta figure out what to do here. Yeah.
Speaker 2:Right? You're going into last week
Speaker 1:Yeah. Yeah.
Speaker 2:We're all sort of expecting like, you know, one of the biggest IPOs ever to land. Right? And and then it seems like everyone was a little bit caught off guard Yep. More generally. Yeah.
Speaker 2:But but, again, surprised that we didn't see as much selling yesterday.
Speaker 1:Yeah. Let me give you some stats. So the Rethink pushed the tech heavy Nasdaq 5% lower, sending it into correction territory, which is defined as generally as a 10% decline from a recent high. Other stocks are also giving up yesterday's poke... Post election gains.
Speaker 1:The Dow is down about 1,600 points. The S and P five hundred is down 4% on pace for its worst day since April 2025. So we're not going back to .com references.
Speaker 2:NASDAQ is still up 5% on the year. On the year. Yeah. And and it was Tuesday night, Gerstner
Speaker 1:Yeah.
Speaker 2:Was talking about we might we might erase all of the gains from this year, give them all back.
Speaker 1:Which is crazy considering how much has happened in actual adoption of technology, but it just shows you how much was priced in at the beginning of the year. So... Yeah.
Speaker 2:It's always priced in.
Speaker 1:The stock sell off is fueling a flight to quality and trade and treasuries with the 10... With the yield on the ten year note falling to its lowest level since September 9. That's not that long ago, but still, interest rates are are falling lower. Liquidity is having...
Speaker 2:Joe had a great post this morning. He said, where is it? Wow. He posts a lot. He says, big rally in treasuries the last few weeks.
Speaker 2:We must have gotten our fiscal house in order.
Speaker 1:That's exactly what happened. 100%. I love it. It's great that it's great that I'm glad that we got that sorted out. Like that.
Speaker 1:It's it's so fun. Yeah. Liquidity says, Nasdaqistan has been hit with two nuclear bombs per Reuters, which is... It's like using the breaking as a joke. I feel like people play for a little fast and loose, but adding per it really feels like you're taking the the fake news to a new level.
Speaker 1:Didn't get a community note though. Ted k likes. People got it. I understand that it's a joke. Yeah.
Speaker 1:Kobe SE letter. S and P five hundred has raised 2,200,000,000,000 over the last fifty five minutes. This was this morning. Today's decline is now double the size of yesterday's post election rally. The Nasdaq is, 6% away from a bear market.
Speaker 1:So very, very rough. What else is going on? The... There's two funds that people are are calling out. Two, maybe three.
Speaker 1:And Engineers Gate. As well
Speaker 2:as Lone Pine. And again Yeah. No one knows... I mean, I think Walleye Walleye already put out a letter saying that they're basically closing down one of their long short strategies. One of them.
Speaker 2:And they're gonna continue to focus on on some of their other products. Short of. But everything else, we'll we'll probably won't find out exactly what's happening for at least the next twenty four hours.
Speaker 1:Yeah. Factors all going the wrong way today equals liquidations are happening. And people are fake news posting about Leopold. It does seem like if if his thesis has remained the same, and certainly if he's using leverage, it would be really tough right now. Yeah.
Speaker 1:But people don't exactly know what he's doing. You know, I think it's it's fair to throw those community notes on people that are saying like, it's it's blown up. Like, you don't know. We'll we'll we'll see. But Yeah.
Speaker 2:He might be all the way out of the market. You don't know? Yeah. Somebody's posting, you know, screenshots of of of his Bloomberg profile. It doesn't seem to be online right now.
Speaker 2:Oh, interesting. It might just be like, I'll see you in 2027.
Speaker 1:Well, just do him privates. Right? And that's what saved him in the last in the last, crisis. So who knows? But Lone Pie Lone Pine, people are speculating.
Speaker 1:They're in trouble. Nebius, ASML, Seagate, applied Materials. What else do they have here? Teradyne Corning. Lot of tech, lot of semi lot of semi stuff.
Speaker 1:And, if Leopold is in fact in, in Core Weave, Sandisk, Nebius, etcetera, Core Scientific, Bloom Energy, Some of those names are down 50, 60%. And so, even without leverage, it's a very, very rough perspective.
Speaker 2:Yeah. Just in the last month, you have Cerebras down 54%, Core Weave down 50%. So it is just Yeah.
Speaker 1:It does seem like people are kind of piling on. You you saw the Core Weave or the Cerrebus thing about how some, short seller came out and said like, their chips stopped working after two years. And it was, like, really, really negative on the actual Sorry.
Speaker 2:I'm just getting the chat up. They're asking, did we get liquidated and lose the We're not... Yeah. Yeah.
Speaker 1:Yeah. Yeah. We have to sell those. Sooner cameras or our webcams now. Okay?
Speaker 1:Like, give us a break. We should really... We do need to get the threadbare suits going and the and the sacks, like the, you know, some some burlap sacks and some bindles. We need to be staying in line for some handouts. Adam says, our perspective on today's market crash and the era of AI, the biggest technological revolution in human history, people are eager to call the top.
Speaker 1:That's how disruption works. It disrupts. Revolutions yield polarity and sentiment, and volatility comes with change. However, if you zoom up... If you zoom out, the, S and P is still up 9% year to date and 85% since the AI revolution began.
Speaker 1:AI is nowhere near over. In fact, it's only getting started. Corrections are healthy. Asset owners will continue to win in the long term. Well, let me talk about Figma real quick.
Speaker 1:Go for it. Figma agents meet the canvas. Your AI agents can now create and modify your Figma files with design system context. And...
Speaker 2:A lot of people that, you know, were subscribed to Michael Burry Yeah. And Zitrin Yeah. Yeah. That sold, you know, back in 2023 Yeah. When they started making those calls.
Speaker 2:So they're feeling pretty good today.
Speaker 1:Yeah. For sure. For sure.
Speaker 2:I don't know that they're gonna be jumping back in. Yeah.
Speaker 1:Yeah. I know some people who sold all way back in 2021, they're feeling like they called this way early. McDonald's is up 20% in the past month.
Speaker 2:Oh, yeah. Good Alexander. Quality. Says pricing surge of applicants. Pricing in the surge of applicants.
Speaker 2:Yeah.
Speaker 1:Yeah. Cost of labor going down as everyone stops trading stocks. Hits the hits the the fryer.
Speaker 2:Vlad Vlad's saying over at Robin Hood saying, the trenches are calling and I must go.
Speaker 1:What's the... Where do you go? Aren't you already in your office? Aren't you in the trenches every day?
Speaker 2:We created the the trenches or the trench. How's Robin Trent doing? Down 1111% today. Very. Makes sense.
Speaker 2:Yeah. But but yeah. Funny funny post.
Speaker 1:Yeah. Oh well. We'll we'll see. The market will have whatever it has. You know, everything can shift depending on the next, like, earning cycle, leak cycle on progress on all sorts of technology.
Speaker 1:But it does seem like the the the the the the... One of the commentaries that's starting to take hold is like, the hyperscalers are holding up pretty well even though the Nasdaq's down 5%. Most of the big bag seven are down like 2%. And the thesis is like, well, they have the data centers already built and they don't necessarily need it. As you get Hermits Potentially be...
Speaker 1:So a lot more value. Yeah. And they can sell into the spot spot price. And then also, the the hyperscalers have a lot of powered shells or at least they have a lot of data centers that might be running older chips, but they can re rack, reconfigure them potentially. And so it it...
Speaker 1:It'll still be slower than some of the Neoclouds, but we'll we'll see. I'm still optimistic that we'll hear announcements from Neoclouds in the next few weeks about where they are going, where they want to go, and what the new trade is. Because a lot of these, a lot of these construction projects, if there's an incentive for the local community, if it's using clean power, if it's quiet, if it's beautiful, if it's in a remote location, there's a lot of people that can actually get behind it. But it's clear that, the broadly... The the electorate in a lot of states are saying, okay.
Speaker 1:We don't like the current deal. We don't like the the the structure of the trade, for a variety of reasons. Some of them completely legitimate, some of them Yeah. Sort of misinformed by, you know, misunderstandings of the of the impact. Yeah.
Speaker 1:Be interesting. What is Joe Weisenthal saying here? Let's dig into this. But first, I'll tell you about Shopify. Shopify is the commerce platform that grows with your business and lets you sell in seconds online, in store, on mobile, on social, on marketplaces, and now with AI agents.
Speaker 1:So is there something going on beyond coding? Intuitively, maybe personal assistant bots, but as Elon said, the Grok bot hadn't... Hasn't had good economics. A lot of those are like, if you wait, the economics will get there. Better.
Speaker 1:But it's super competitive and you're... And and there's so many other things that at least SpaceX can do with their compute. They can send it over to, Google, Anthropic, all the other buyers. So as the conversations went on, I gradually began to understand where the pessimism was coming from. In the end, they were all asking the same question.
Speaker 1:So what comes after AI coding? What will be the next engine of ARR for Anthropic and OpenAI? Several candidates came up, AI for us, for science, AI chip design, and so on, but none of them clearly convinced investors. I couldn't offer a clear answer either. Sure.
Speaker 1:There are rumors that Enthropic has made major breakthrough in both AI for science and AI chip design, but what we actually want to know is when any of that turns into money. You know, some of these initiatives, if they're if they're Yeah.
Speaker 2:I think the main the main thing is, like, what what Joe's referencing is, you know, I was talking about, like, we need a step up in capability in a meaningful way because there are there are a bunch of businesses in the world Yeah. Small and large, where they want to be using more AI Mhmm. But they can't really find a way to spend more than a couple $100 a month
Speaker 1:Yeah.
Speaker 2:Per person Yeah. Let's say. And so AI spend is still tiny relative to the other costs in the business. Yeah. And so they're they're sitting there saying, I'm willing to spend a lot more.
Speaker 1:Yeah.
Speaker 2:I just can't find a way yet to apply it Totally. Outside of coding and a couple of these other domains.
Speaker 1:Yeah. Yeah. I mean, if you just add up the revenues from all the harness companies, I don't wanna necessarily call them wrapper companies, but like the companies that are in AI enablement, AI diffusion, AI for law, AI for finance, these types of companies. You add up all of that, even if the labs were able to just immediately get that revenue, doesn't move the needle that much. And so Well next...
Speaker 1:Yeah.
Speaker 2:They are getting a lot of the revenue.
Speaker 1:Oh, yeah. Already they're getting a ton of revenue. But, what what what I'm saying is like like, an engineer can easily justify, a $100,000 token budget a year if they're making $203,104 $100,000 in their comp package. Jensen's floated like a one to one ratio, and that doesn't seem that crazy for certain roles. Much harder to justify You're a lawyer.
Speaker 1:Right now.
Speaker 2:I think you floated more
Speaker 1:aggressive. Yeah. But, it's it's that, right now, everyone who has a marketer on their team, everyone who has a a... In in house counsel, everyone who has a CFO, they would all love to be able to go to them and say, yeah. Your budget for AI is a $100,000 a year.
Speaker 1:Go spend it, and let's make sure the ROI is there. But we're generally confident the AI... That the ROI is there. Right now, people are like, you can have $200 a month. You can have maybe $2,000 a month, but you're not getting $20 a month yet.
Speaker 1:And so that's like the the original, like, white collar work pitch that then has kind of melted away because of the job displacement discussion. So now we're into AI for science and AI for chip design. But a lot of those times, even if you have a breakthrough, like, there's just going to be... In terms of adoption and actual monetization of a new drug, there are just gonna be people who say, I want a phase three trial, and I want, you know, humans to have tried this drug for nine months straight. I want...
Speaker 1:You you can use AI to design it. You can use AI to do all the different testing, and and and and you can, work for... On AI for the manufacturing. But at the at the at the end of the day, I wanna see that there's an evidence that a human took this pill and survived a year later. And that's what a lot of the FDA trials do.
Speaker 1:And so that's a little bit slow even if the balance sheet is there from the big, biotech companies.
Speaker 2:Also, yeah, on the on the AI for science side and r and d Yeah. I just think, like, generating a bunch of... You know, we talked about this with Dylan and the semi analysis team. Yeah. Like, there's the there's, like, the the idea generation Mhmm.
Speaker 2:Part Mhmm. Which, like, already there's a lot of ideas. And then there's the actual, like, r and d process Sure. To figure out if something is like viable. Yeah.
Speaker 2:You're gonna use... The the second part takes a lot of time. My my concern with like how that revenue will ramp over time is that like you just can't... Even with AI, you're not gonna pick, I think at this point, anything where it still has to tie into the real world
Speaker 1:Yeah.
Speaker 2:Right through like, you know, human trials, things You're like not gonna like pick
Speaker 1:physically You're not gonna say into silicon into a fab. It is You're not gonna It's like high definition slide a thousand.
Speaker 2:You can run 5,000 simulations
Speaker 1:Yeah.
Speaker 2:In software, but then once it's in the real world and and Yeah. You're just not...
Speaker 1:And we've seen this with both the model progress on anything that can't be... Can't... The RL can't happen in a millisecond on a server. It it... If it has anything in the external world, that's a huge that's a huge drag on the speed with which it can diffuse.
Speaker 1:Yeah. But but we'll we'll we'll we'll see. I mean, at the same time, like, the market is good at pricing breakthroughs. Like, the GLP ones drove a trillion dollars of market cap. Yeah.
Speaker 1:Way before they were even in the hands of people. Like, they were, like, very limited rollouts to people for... Through doctors. It was pre diffusion effectively, and and the market was able to capitalize that early because it was expected and understood. And so, you could see at least some of the financing be underwritten by breakthroughs in AI for science or chip design or any other harder field that takes more time.
Speaker 1:You can actually match the capital to that. So, there's still lots of optimism there. Let me tell you about console. We still got our console stickers on here. Console builds AI agents that automate 70 of IT, HR, and finance support, giving employees instant resolution for access requests and password resets.
Speaker 1:So to summarize the Citrini article, Sattrini overhauls thematic model book calls peak in AI infrastructure CapEx. Sattrini says AI infrastructure asymmetric risk has shifted to downside. Sattrini expects higher costs for US data centers after democratic nature. So I think that we brought the the... Hey.
Speaker 1:We didn't have to sell the soundboard. Okay?
Speaker 2:Yeah.
Speaker 1:We might count 5%.
Speaker 2:We still got this. We grabbed this on the way out.
Speaker 1:Yeah. That was the last thing. So to me, Warren's macro regime twist... Shifting toward late cycle stagflation tilt. So, lots of lots of rough stuff on the timeline.
Speaker 1:Steven Balaban's extremely bullish on Neocloud. If there's pushback on data centers in some districts, that will artificially suppress supply of the exact product that, Lambda sells compute. The demand for compute will continue to grow exponentially. There's never been a better time to be a cloud at Citrix. Right?
Speaker 1:And the replies, how much active data center power capacity do you have? Asking questions. Yeah. It's sort it's sort of his Christmas. Speaking of Christmas, how many days till Christmas?
Speaker 2:Pull it up.
Speaker 1:I think we have just forty nine days until Christmas, and the Nasdaq is down over 4.9%. No. We have a better we have a better fun fact. Forty nine days till Christmas, the Porsche nine two eight was debuted in Geneva in 1977. That's forty nine days ago.
Speaker 1:So Oh. Good good tidbit. Good historical tidbit. We had some options for which way we were gonna go. Was it gonna be an age?
Speaker 1:We went with the with the Porsche. I didn't even need to hear the other options. I I called it immediately. So IPO window. It's impossible, but it's necessary.
Speaker 1:This has gotta get out. Jim Kramer says, think that Anthropic is gonna have to take a discount to get it done. They have been the principal progenitor of fear, which is what the American people feel. That's not that big of a deal. Like, it's a well capitalized business.
Speaker 2:Also, fear can be a driver to invest.
Speaker 1:Yeah. Yeah. That's true. And I mean, they had... I'm scared of this thing, but Yeah.
Speaker 2:At least I wanna make some money on it.
Speaker 1:Totally. And the last round was $9.60, something like that. $960,000,000,000, like just a hair shy of a trillion. Yeah. So even if even if they go out at 1.2, it's still an up round for all the investors there.
Speaker 1:Everyone's happy. Like, it's... They haven't done around since. I don't know. In granny equity.
Speaker 1:So it feels like they do have a cushion of of safety there where, like, okay. They they mentally jumped from $960,000,000,000, basically 1,000,000,000,000, to basically 2,000,000,000,000. Everyone was like, it's gonna be 2,000,000,000,000 at at IPO. It's be 2,000,000,000,000. 50% haircut, they're still in the green, so not too bad.
Speaker 1:But, you know, I think Cramer does understand what's going on in the market, like what people will be worried about, how much, how much excitement there will be.
Speaker 2:Yeah. The question is... I don't know the answer to this. Yeah. Is can you go out when all of the companies in your supply chain are nuking?
Speaker 2:Yeah. Like, or does it make sense to, you know, wait until things stabilize a little bit more? I I genuinely don't know the answer. That's great. I still think, you know, Anthropic's been going, and their bankers have been going out to like individual investors and Yeah.
Speaker 2:Yeah. All these allocations. Yeah. And I can still imagine a lot of people saying like, I believe in this company long term.
Speaker 1:Yeah.
Speaker 2:I don't really care about the short term. This is like a buying opportunity, especially if it comes in. Because at at at the lower end of the range Yeah. I think there's like... I still think there's tremendous amount of upside.
Speaker 1:Yeah. I'm trying to remember, how much did SpaceX raise in the IPO? Was it like 60 or 80,000,000,000? And I feel like Anthropic had floated, like, maybe 200,000,000,000, over 100,000,000,000, some sort of really big number. So even just scaling back the floats, scaling back the the amount raised, obviously scaling back the valuations as well.
Speaker 1:There's a number of levers that they could pull, but it is not what you wanna see if you're trying to get out or you need to get out. But Yeah. We'll we'll see how they play it. I mean, the the prediction markets... I was looking at the prediction markets on, like, the the IPO.
Speaker 1:Not that... I I don't know how prediction markets have held up on on the non election, non sports stuff. I was looking at Yeah. Because, like, hopefully, the people that are underwriting your IPO, like More trading.
Speaker 2:That that they call me
Speaker 1:because then it's more accurate.
Speaker 2:Right? No. I was gonna say the opposite.
Speaker 1:Stay out of it. Stay out of it. Yes. Don't. But but but I would imagine that someone who is not an insider but has a deep understanding of the market.
Speaker 1:Like, if you if you aren't on the Anthropic IPO, maybe you're a retired investment banker, but you've taken tech companies public. Like, you were
Speaker 2:at Morgan Stanley during 2000 So on November 3 Yeah. At 6PM Mhmm. The market was saying 88% chance of an IPO Mhmm. Before December 1. Mhmm.
Speaker 2:And now Is
Speaker 1:it 60 something? 61. 61. Wow. Down That's a lot.
Speaker 2:Yeah. Over 20%.
Speaker 1:So that could just be, like, vibes based, you know, people trading the market, but it also could be, you know, a retired hedge fund guy or a retired investment banker who really understands the likelihood, how the likelihood changes as a function of the overall market. And and they could be talking to public markets investors who are giving them insight in in in information Yeah. But are able to educate them about liquidity, generally.
Speaker 2:Yeah. The interesting thing is there's a world where some institutions, like more institutional investors, larger investors
Speaker 1:Mhmm.
Speaker 2:Get a bit more skittish because they're looking at their book and seeing, you know, massive losses Yeah. Or at least paper losses, and retail got... Being able to get a lot more exposure. I think, like, for better or worse, retail is gonna be able to invest, like, more in this IPO than in than in many of the of of the of the IPOs in the last, you know, year or so, just because it seems like if the price is right, there's unlimited demand Yeah. For capital.
Speaker 1:It's interesting. Like, the all out blitz on marketing from OpenAI and Anthropic across social media and influencers and whatnot, like, awareness is way higher than with a Neocloud or a SaaS company. There's a lot of people that hate it. I don't know if they're retail investors. But there's certainly more awareness, but you don't have the cult of Elon with either Sam or Dario, to be true.
Speaker 1:Yeah. Right? You have people that are maybe intimidated or maybe, like, cautiously optimistic, but you don't have people that are like, ride or die. Like, we're going to Mars. I got the Yeah.
Speaker 1:I got the the Cybertruck.
Speaker 2:Well, you get that because you had a bunch of people invest in Tesla at what, sub $10,000,000,000 market cap.
Speaker 1:Totally. They've made they've made money with him before. Yeah. Yeah. One last thing from Jim Kramer.
Speaker 1:He says, data center locations. He says, these are what I'm concerned about. He's looking at Iron. They have three in Texas. Corweath has four in Texas, one in Ohio.
Speaker 1:They do have, plenty of others. Some in Sweden, some in Canada, some in India. Nebius, does... Has lower Texas exposure. And so, people are worried about what will happen to these if they're still building capacity, still getting approvals.
Speaker 1:I'm sure all the analysts are really digging into the exact sites, where they are, how many permits. Will they be subject to a pause? Will they be subject to, a renegotiation there? It does feel like there's there's already been... I saw some messaging from OpenAI around, like, power protection program v two, how you actually interact and make sure that power...
Speaker 1:Electricity rates don't go up, like, concretizing the the water usage more. And so all of this will just be more and more. But there are there are plenty of examples of, like, the data centers, like, going well. There's an interesting debate between Chris Mims and, over at the Wall Street Journal and Mike Isaac over at the Atlantic around the, around the difference... The different takeaways.
Speaker 1:Before we get into this, let me tell you about CrowdStrike. Your business is AI. Their business is securing it. CrowdStrike secures AI and stops breaches. So let me see if I can actually find it because my guys have said, like, okay.
Speaker 1:Based on everything that's happening, it looks like the only the only takeaway is peep... Like, tech people will take away that it's just a messaging problem. And it says voters are very pessimistic on AI. The majority of voters say AI will do more to hurt society. Only a quarter will say it will help.
Speaker 1:And some of these some of these polls are like, they they they niche them down. So they first ask you, like, are you voting based on AI? And, like, 10 people say, like, yeah. That's my issue. Where a lot of people say, like, gas prices or, like, geopolitical conflict.
Speaker 1:Right? But then within those, they say, okay. Are you voting on AI? Then do... Are you optimistic, pessimistic, etcetera?
Speaker 1:My guys, like, rat king says, my guess is the primary thing the tech industry will take away from this data is that it's a messaging problem because what else can we do when the majority of voters say what you are building is bad for society? Genuine philosophical question. I think the answer is a lot of what, Chris Mims was saying, which is, he say... He actually posted this a long time ago, so he resurfaced it. He said, practically no one read this when I published it a couple months ago, but I'm going to immodestly propose that everyone who wants to build a data center or whose livelihoods depend on them getting built should read it now.
Speaker 1:Big tech can build data centers people won't hate. We've been through some
Speaker 2:of these, you know, sound and water and power. My point was like, make it make it have a concrete positive impact on the local Yeah. Lives of the people in the local community. Yeah. Even if it comes down to like, we're gonna pay you
Speaker 1:Yeah.
Speaker 2:You know, $500 a month.
Speaker 1:Yeah. I mean, the AWS playbook is right there for the taking. Like, people in Virginia, very happy, very wealthy. It's done very well. But in the sprint, everyone was like, we gotta throw out that playbook.
Speaker 1:You Because even remember like Meta was building data centers in tents. Like, and and instead of instead of traditional buildings. And like, I don't know if that actually has an effect on how much water you're using or how much power you're using. Of course, Natural building gas.
Speaker 2:Scraps in a cave.
Speaker 1:Scraps in a cave
Speaker 2:outside of Memphis. Yeah.
Speaker 1:And so you you you can easily see that it's like, okay, when speed is the most important thing, then yeah, maybe you're gonna tick off the local population a little bit more because you're not taking the extra step to think about, okay, what color should it be? Or like, how noisy should it be? All these things. And then there's a lot of retrofits that people are unhappy with. There are some other stories.
Speaker 1:The big one...
Speaker 2:We gotta talk about Please. We gotta talk about Strauss.
Speaker 1:Strauss. Okay. Pull up this video from Strauss Zelnick. First, I'm gonna tell you about Cisco, critical infrastructure for the AI era, unlock seamless real time experiences and new value with Cisco. And then we're gonna go over to Take-two CEO, Strauss Zelnick, who sat down with The Wall Street Journal to discuss the launch of GTA six.
Speaker 1:Let's play it.
Speaker 3:Is there a concern? I mean, I I've... I think there is a concern that this is your big hit and that you don't have enough hits in your library. Can you... I mean, can you...
Speaker 3:How do you, like, knock that down?
Speaker 4:Well, look. We have 15 franchises that have each sold at least 5,000,000 units in an individual release. I think we have the best collection of owned intellectual property in the video game business, and I think that's reflected in our top line, our bottom line, and our market cap. So I guess the way I respond to it is, like, examine the fact. I don't I don't know.
Speaker 4:I'm... Look. We'd have an addition to Grand Theft Auto. We have Red Dead Redemption, a massive title. It sold over 65,000,000.
Speaker 4:It's in the most recent release. Red Dead Online, Grand Theft Auto Online. We have NBA two k, which is the second biggest sports title worldwide, but the biggest in North America. And build WWE two k, Bioshock Borderlands Civilization, and then on the mobile side, we're friends on Fox.
Speaker 1:Forgot about Bioshock. Right? That's a great series.
Speaker 4:Hundreds of other titles.
Speaker 2:Borderlands is a good Pretty good story.
Speaker 1:That's great. That's funny. I I didn't know that you were gonna pull up this clip. I saw a different one of him talking about artificial intelligence and just, like, the question of, like, how is Take-two embracing AI or not?
Speaker 2:Yeah.
Speaker 1:And he was saying, like, this is very crafted. But the interesting thing was that he's like... But at the same time, like, it's all computer generated. Like, it's always been computer generated. So, like, we will use tools, but there's still a lot of love and human element creativity that comes in.
Speaker 1:But don't expect us to not... To stop using computers in 2026 when we've been using computers since the company was started.
Speaker 2:Yeah. But Yeah. So one Mhmm. Hilarious question and answer.
Speaker 1:Yeah.
Speaker 2:I would say in minor defense of the interviewer, there is like an extreme power law. Yeah. Like GTA is like such... Is such a Yeah. Like, if if Red Dead Redemption two is like a a Grand Slam, like, this is like whatever is beyond that.
Speaker 2:Right?
Speaker 1:Back to back Grand Slam. Back to back. I don't even know. The World Series. Yeah.
Speaker 1:The World Series.
Speaker 2:Yeah. But but yeah, it's just like a a different level. Right? Yeah. And so there is that power law.
Speaker 2:It is if you walk around on the street, do you know what GTA is? Like, so so for a non video game audience Yeah. Like, that... That's like kind of a fair question. Yeah.
Speaker 1:Who... One... Are you... Yeah. It's also it's also fascinating that GTA is trying to...
Speaker 1:They are trying to hit two grand slams simultaneously. Because the first is on the single player game, the story, how it feels to play it, how people talk about it, how it's like you have to sit down on day one, play for hours, the game mechanics, the polish, like, the actual core game. And then there's the economic engine that comes after, which is GTA Online. And that has been massive on GTA five. And so...
Speaker 1:But I see those as... Obviously, they're deeply related. If it's a good game, a lot of people stick around and play for a long time and wind up spending more money on in game currency and whatnot, and that will drive the business. But they are somewhat different products, somewhat different businesses, different Yeah. Artistic and business challenges.
Speaker 1:And so, it's it's very interesting. It's also... It was also funny to me people calling for like a no AI in video games because it's like like, the the NPCs have always been AI. No computer generated graphics. That's one thing.
Speaker 1:But also, like like, even even the the, like, the enemies that you play against, like, they are AI. Like, they decide, like, okay. I'm gonna drive this way. I'm gonna, like, turn... Take a left turn at the light or pause at the light.
Speaker 1:If you have no AI, it's just this, like, empty world in the old world. But then, of course, people
Speaker 2:Leave talk about me alone. Yeah. Leave me alone.
Speaker 1:Yeah.
Speaker 2:It's it's been But but, yeah, incredible answer by Strauss and
Speaker 1:Holy greatest ever do
Speaker 2:it. Would would a little little embarrassing. Yeah. Where should we go next? There's a couple things I want
Speaker 1:to to talk public. Take two, also, the market loved it. So Public invest across all asset classes, automate anything with AI agents, run trading strategies, risk management, money movements, monitor markets with AI agents for investing on Public. Take two is up today. Everything else is tanking.
Speaker 1:But take two, it's a flight to safety. It's up 10% in the last five days.
Speaker 2:There we go.
Speaker 1:Everyone's like, okay. Great answer. Great answer. I understand that
Speaker 2:you have a diversified basket of incredible IP.
Speaker 1:Yeah. It is like people are gonna
Speaker 2:be playing games. Improvement ability to create hits
Speaker 1:Yeah. Yeah. No, no. It's a good business. Wanna talk
Speaker 2:got a post here from Dalian. Yeah. He said someone put a little boy Sean McGuire in Pat Grady's coffee this morning. I agree. He's a lot Yeah.
Speaker 2:A lot of people were, you know, Sequoia making some changes to their strategy, continuing their evolution.
Speaker 1:Yeah. The core we... You familiar with, like, the core of what they're doing? They're shuttering the London office. They've already spun off the India and China strategies.
Speaker 1:So really focused out of their, American headquarters effectively. And then, and then consolidating the partnership and the core team as well. And then, also merging seed and growth, early stage and growth, venture and growth. So it's just like there's a group of investors, and they can do whatever they need to in the market. And then they're not gonna have partner meetings either because they say, founders work twenty four seven.
Speaker 1:We'll be available when they're... When when they're available. When they need us, we'll be there, and we'll be able to make deal decisions. It feels like a very modern format, and it seems like a good move, but a lot of people are a little defensive. Right?
Speaker 1:Because it's it's implicitly taking shots at, well, maybe you don't need to be investing if you're in Europe or something, or you don't need to be there on the ground to win the European deals because Osagoya has won a lot of European deals, and their American based partners have been the ones to win those sometimes. Yeah. So anything else in this?
Speaker 2:Oh, I just thought it was amazing that Pat was Pat was firing back. Yeah. He asked James, did you guys have an emergency? How do we use this to dep... Deposition Sequoia meeting?
Speaker 1:Yeah.
Speaker 2:Today. Jeez, man. We used to like working with CRB. Shots fired. Very few exclusively early stage focused funds remaining.
Speaker 2:You guys are nailing this messaging. Keep at it. That's spicy. So funny. Videka, it's just like like...
Speaker 2:It it just come... It just comes down to the to the fact that if you're an elite founder Yeah. It doesn't matter how Sequoia is set up. Yeah. You can go have a conversation with them at any stage.
Speaker 2:And, like, they wanna lean in, there's a very good chance that they're winning that deal.
Speaker 1:If he seems to be sort of friendly with Deleon, Deleon's taking a victory lap saying he's been doing this since 2019. The FF shut down the sixth scout program in 2019. Deleon pushed hard for that. We've never done part Monday partner meetings. I took them long enough.
Speaker 1:Whatever. And Pat says, interesting. What else do you guys do over there? Asking for a friend. See, that's playful.
Speaker 1:That's not that's not firing that part. I I think. I think. But but the next one, Martin. This was a bloodbath.
Speaker 1:You saw this? So Martin opens up with no doubt that building a transatlantic firm is hard, but it's new line. I'm not sure what the new line is doing there, but, it seems like it was written on typewriter or something. What we've set... Spent the past three decades doing an index, and we're not we're not going to stop.
Speaker 1:It's the best way to support founders who wanna build something on both sides of the Atlantic. Pat Grady, out of the gate, hits him with the hay bud. That's one of the most aggressive things you could do on the timeline. It's... That's that's roadkill right now.
Speaker 1:That's really, really hardcore.
Speaker 2:Yeah.
Speaker 1:He says, I love index and think the world of you guys, period. And then, but. The period, two spaces.
Speaker 2:Hey bud. Hey bud. Pause. Pause.
Speaker 1:But, you know and I know that it's baloney. Hitting him with the baloney Baloney. That's like elite dad tier just trashed on.
Speaker 2:You can't come back. That dad tier trash... He didn't get a response. I don't think so. I think...
Speaker 2:Because after you get the bud, paws, butt, baloney...
Speaker 1:Hitting them with the baloney is crazy. It's crazy. Is baloney the position as if Sequoia is closing London because it's hard?
Speaker 2:Yeah. When I think about when I think about, like, amazing Yeah. European companies
Speaker 1:Yeah.
Speaker 2:Of the last, like, decade or two, I'm thinking Klarna, like Rebeloop. Eleven Labs. Yeah. Spotlight. So it doesn't...
Speaker 2:It seems like it's it's certainly certainly hard, but it seems like they're they're pulling it
Speaker 1:off. Yeah.
Speaker 2:Also The other thing that was funny when somebody somebody said when you combine a growth team in an early you become a growth team. And Patrick was like, think you mean to use fund or team? Like Yeah. When you combine a growth fund and then early... And then early Yeah.
Speaker 2:Is kinda odd. Yeah. Anyways I
Speaker 1:don't know. One last thing on this, though. He says he says, I know that it's baloney to... You you know and I know that it's baloney a position that says, Sequoia is closing London because it's hard. Notice, he capitalizes the l in London, doesn't capitalize the s in Sequoia.
Speaker 1:He's just like, I'm chilling on mine, but I'm paying respects to London on the way out. Yeah. But I won't be doing business there ever again. Just kidding. Anyway, some fun fun time.
Speaker 1:Like, Isaiah Taylor had a had a terrible time checking into a hotel room. Has this ever happened to you? Let's go into it after I tell everyone about Codex. Codex is a powerful workspace for getting work done with their own routines. Whether you're writing code, analyzing data, creating content, or automating business workflows, Codex helps you move projects forward from start to finish.
Speaker 1:So Isaiah had a problem with hotel and he lays it out in very dramatic form, a back and forth with him in this anonymous hotel. So he says, hotel, we were expecting you today. Me, Isaiah, standing with my bags at 4AM. That's a late arrival. It's sort of yesterday right now if you think about it.
Speaker 1:And the hotel's confused, and he says, me, if I booked for today, you wouldn't let me check-in till 4PM, so let's call it yesterday. Hotel..dot. Can someone fix hotels? And I thought this would be fine. Is this is this a common problem if you book the day before you can't check-in at a certain point?
Speaker 2:I imagine I imagine this is like a like a roadside motel, you know? Sitting grizzled. Yeah. Yeah. With with somebody at 4AM, you got the night shift going on.
Speaker 2:Yeah. It's not exactly... Just doesn't exactly... I I think it I think it like...
Speaker 1:He's gonna have the Amman.
Speaker 2:If you're at like Four Seasons, Amman, you know, things like that, they're gonna be like
Speaker 1:I'm gonna be fine.
Speaker 2:Here you go, sir. Right this way. I hope you got in nice. But at the roadside motel at 4AM Yeah. They're like, hey.
Speaker 1:Put your seat away. Yeah. Yeah. We sold it out the back. Yeah.
Speaker 1:Yeah. Funny. He he he proposes wanting to, like, slide... A slider on a phone, get the specific hours and days. I I think he played it right.
Speaker 1:I think if you book the night before, should be able to check-in at 4AM. Shouldn't be a problem. They shouldn't give up your slot. But good luck to him on his world tour.
Speaker 2:Thank you. All over the place. To our friends over at Latent Space Oh, yeah. They said, hey, TBPN. You got...
Speaker 2:You dropped this, but we got you. They made their own card for Catwoo going from one of the creators of Cloud Code. Yeah. One of the most commercially successful products of all time, like period. Yeah.
Speaker 2:With a with a... Like, is there a product that's ramped revenue? I think if you look at the Like, just like lines,
Speaker 1:the highest.
Speaker 2:Yeah. Fastest. You know, really incredible run at Anthropic. I was Crazy trade deal. Yeah.
Speaker 2:Crazy trade deal. Opening out, you got Announced that she was leaving it, I think, on Tuesday. Yeah. And then obviously announced where she was was joining. Obviously, everyone now sort of focus on Tariq.
Speaker 2:Yeah. Tariq.
Speaker 1:Is he gonna stay playing Wow forever for months, years, or is he gonna get back in the arena? Someone's someone's gonna make a play, make an offer that he can't refuse 1,000,000,000 Wow gold.
Speaker 2:There was a good post here. We can go back in time a little bit, from Atija. He said, OGs remember. These are original, original trading cards. You can appreciate the divine.
Speaker 2:Claude code PMs join Cursor, and then we hit them with the UNO refers. That's true. Like, about ten... I think it was ten days later, maybe weeks ago. It was really fast.
Speaker 2:They they they checked things out at Cursor, and they they they went back. That that was still to this day one of the most strange
Speaker 1:Yeah. Saga's in tech. Yeah. We were really
Speaker 2:I wasn't that they time like like... Yeah. Crazy that they left in the first place Yeah. And then even crazier that they went back
Speaker 1:Yeah. Right away.
Speaker 2:Yeah. Yeah. Yeah.
Speaker 1:Nobody knows anything. That's the takeaway.
Speaker 2:But then it's been, you know, it's been well more than, you know, north of of a year
Speaker 1:Yeah.
Speaker 2:Since... It's a decade now. Tig says, Catwoo has the opportunity to do the funniest
Speaker 1:thing all. Go back to Antarctica. That'd be wild. I somehow think that would not happen, but strange things happen in tech all the time. Yeah.
Speaker 1:I mean, it it it goes to show. I mean, what what Greg was saying, like, it was the meme. They had us in the first half. I'm not gonna lie. He was talking to The Wall Street Journal.
Speaker 1:He he said, Open Air had a rough first half of the year before coding takeoff, and he gave a lot of, like, candid candid explanation for the evolution of of the of the product, of a business, of the financials. He says, OpenAI struggled through a pretty rough first half of the year according to cofounder and president Greg Brockman, period when rival Anthropic pulled ahead with business customers. It wasn't until the third quarter that OpenAI OpenAI's new tools for agentic software coding found traction leading to enterprise overtaking consumer. And the number that he was really focused on when I listened to a little bit of this interview was, like, I think over a 100% quarter on quarter growth for enterprise in the... In q three when Anthropic was doing over a 100% and then decelerated to 49% or whatever the number is.
Speaker 1:And so, you know, he's he's he's sort of saying, okay. Well, we caught up so much that you can see it in the growth rates specifically, not merely the revenue scales, not merely the products. Look at the acceleration. We are... We're we're we're taking share, which is what what what he wants to do there.
Speaker 1:He said by the third quarter, however, it was entirely different. He said with the release of a new Frontier AI model GPT 5.6 Soul, I remember, and ChatGPT work setting the stage for a comeback. There had been all this painful behind the scenes work that resulted in all this, incredible revenue inflection. Yeah. It was ultimately, the crazy lock in.
Speaker 1:They got a bunch of other, people on the team. And personally, I I... You know, I'm I'm just excited about, all the PMs and and design folks coming to work on Dot. There's been a whole bunch of new integrations, and they're really starting to fan the product out across the iOS surfaces so you can use the action button to call the... Call dot.
Speaker 1:It picks up faster. That was one of the things when you called it. It it was so weird because it was like calling a person that's like sort of ghosting you.
Speaker 2:Like... Like, it's probably only like ten seconds, but it still feels like a long time.
Speaker 1:Oh, it feels really weird in the context of AI because AI always, like, gives you feedback immediately. Yeah. At least a little bit. It's like, okay. Got it.
Speaker 1:I'm thinking. I I received a request. I'll work on that. I'm gonna go kick off some agents or whatever. But this...
Speaker 1:It would... The phone would just be ringing. And I'd be like, why are you ringing? But, of course, it's like spinning up the GPUs to do the right thing and the voice model and getting everything Yeah. Loaded into memory because it's probably running on some VM or whatever.
Speaker 1:But, yeah, there's a whole bunch of other cool things you can do, like, a dot iOS widget and have that there. Although they can't bend as much as I'd like into it. I'm trying to figure out how to how to sort of brute force and like like manipulate the iOS widgets to give more information. Like, the dot widget is literally just the visualization of the dot character that you've made. And then when you click it, it opens your dot, which is fine.
Speaker 1:I guess it's fun if you like the character. But I wanted it to be like, that is a text list or, like, that is some information that Dot can dynamically put on my home screen, and I can see it. So I... Right now, I'm... I have the Dot set up to, like, look at all the calendars across personal and TBPN, synthesize them into something that's actually in a digest because oftentimes our calendars are, like, six back to back 15 meetings and it's, like, show guests.
Speaker 1:And I don't I don't want that in my calendar. It's really hard to read. But what I wanna know is like, okay, from eleven to two, I'm doing the show and the last guest is actually at 01:30. So I need to be downtown at 02:30, so I should leave right at 01:30 or whatever. And then Yeah.
Speaker 1:I have this going on at home and this at family and this traveling or whatever. And so it's able to do that in text and text me but I want it like bended into home screen. And I don't really wanna go build an
Speaker 2:island Yeah.
Speaker 1:Right now even though I'm sure it could. But it's fun. Exciting. You're having fun.
Speaker 2:Got I an exciting opportunity for you. What's up? And anyone listening. So if you feel like being greedy when others are fearful, there's a mystery seller who's looking to dump 500,000,000 of data center loans today.
Speaker 1:What are you talking about?
Speaker 2:In Bloomberg, in Bloomberg, roughly $500,000,000 portfolio $40,000,000.40 portfolio of data center loans has been put up for sale all at once in a rare auction that comes just days after Well a damned sweep of US midterm elections. Mhmm. The anonymous seller is taking offers for a dozen loans via so called bids wanted in competition process according to people Okay. Familiar with the matter. The loans for sale include a $25,000,000 slice backing a massive data center site that's part of an OpenAI SoftBank and Oracle's 25 project in New in New Mexico.
Speaker 2:That's interesting. But that... That's the location where Oracle sent the developer a notice citing force majeure. The seller is also looking to offload debt tied to operators such as Vantage Data Centers and CyrusOne, and bids are due November 19. So you have...
Speaker 2:And and you have got... Have to have at least 10,000,000. That's sort of the minimum bid. So you got a little bit of time to suss this out. Mhmm.
Speaker 2:And and yeah, we'll see we'll see if if Buffett comes in
Speaker 1:Well done.
Speaker 2:Swinging. Yeah. I mean, if Buffett... Like, at some point, look at Core Weave, and I'm like, I don't think that Jensen would ever let this company fail. Right?
Speaker 2:And so at what point is there is there is there... You know, it's down Still
Speaker 1:a lot of trash to go... A lot a lot of cash to your end. Who knows?
Speaker 2:Anyway It'll be an interesting interesting end of the year.
Speaker 1:Yeah. For sure. It's forty nine days till Christmas. Let me tell you about MongoDB. What's the only faster than the MongoDB...
Speaker 1:Than the AI market? Your business on MongoDB. Don't just build AI. Own the data platform that powers it. Yeah.
Speaker 1:Data center debt, that could be a really good Christmas gift. You you you unwrap, and you got a senior secured note. Maybe the mezzanine layer, you you know, you got some debt. Just, hey. This is gonna pay you a little coupon.
Speaker 1:Who knows where it's gonna go? Might not get the cash back. There's some risk, but risk, no risk, no reward. All the ultimate Christmas present. You see Dean Ball rugged us?
Speaker 1:You saw this? He's rug posting. He... Apparently, he's a rug head and he's just sharing pictures of rugs that he likes. How would you how would you review these rugs?
Speaker 1:Are you are you a rug fan? Do you like an ornate rug like this? I've never really gone down the I
Speaker 2:think rugs are... I... I'm not not... I'm not actively In the market. Collector of I I don't obsess over them Okay.
Speaker 2:Over the way I would maybe some other Yeah. Types of collectibles. But I have been consistently shocked at how well really high quality rugs age. It is it is actually unbelievable. Okay.
Speaker 2:Like, have... I was I was gifted a rug for my aunt when I moved in... When I when I when I had left college that she had had for years and years, and it was like something like 80 years old. Mhmm. But you would have been...
Speaker 2:You would have believed that it was like two years old. Interesting. And it had been in constant use for that long. Yeah. And so I think the technology itself Yes.
Speaker 2:Like, is unbelievable. Yeah. It actually is unbelievable.
Speaker 1:So they could be like the new air cooled Porsches of the modern era.
Speaker 2:I think so.
Speaker 1:The new holy trinity of... We gotta get to the bottom of the...
Speaker 2:Sell all your ass, trade all of your assets for rugs. Yeah. Well, a lot of red out there. A lot of red. Brian Johnson will be using all of that to get
Speaker 1:No red lights. Red lights.
Speaker 2:We're gonna be looking, tracking Korea when they when they get up over there.
Speaker 1:That'll be crazy. Yeah. Let me tell you about the New York Stock Exchange. Wanna change the world, raise capital at the New York Stock Exchange. Lots of turmoil, but the New York Stock Exchange has been around for centuries for a reason.
Speaker 1:It's an institution. There's a... There... There's there's some debate over this AI image. Do you see this?
Speaker 1:Olivia Rheingold posted an image of someone at election night spotted with Valentino heels, a Chanel bag, Rolex watches, and it was determined that the image was AI generated. She fired back and said that it was merely AI photo correction, like brightening and sharpening of the image. And she shared the raw image. It's it's funny. Julie Blackchined in at Vanity Fair and said, yesterday, I saw half of our staff clustered around our fashion correspondent's desk pouring over this photo.
Speaker 1:The image has several discrepancies. The style and make of the Chanel flap bag is inconsistent with others that the brand has sold. They're going, four d chest on it. And the Valentino shoes in question appear askew in proportion. So those might have been hallucinations.
Speaker 1:Olivia did share the real image or, like, the the unedited vision version, which is, like, way darker and doesn't look that good, but there's a community note on that that says, using AI to manipulate images is a violation of journalistic ethics. I didn't realize that The United States Press Agency had actually updated the journalistic ethics. I guess it does make sense that you wouldn't wanna you wouldn't wanna use AI that could inter... Reduce, like, hallucination. At the very least, it's gonna introduce, like, debate over is that...
Speaker 1:Is it real at all? Versus, like, just doing the color correction on your phone or in Photoshop or something. But, anyway, it it... I mean, it appears that the that the image is real, but it does take away from the whole from the whole, like, thrust of her take, of her piece. Anyway, what else is in the timeline before we get out of here?
Speaker 1:Let's That's it, folks. That's it? It's over. I think we got through everything.
Speaker 2:Show. I mean, the show to be to be clear. There's The show is over.
Speaker 1:Go... The time is to flight to quality Harley Davidsons. That's the other story that's in the that's in the timeline today. Americans cut back on boats and RVs, but can't stop buying Harley Davidsons. The motorcycle maker sees its first sales boost in years as riders respond to new models and cheap financing.
Speaker 1:Look at this look at this top photo. Carl Sprinkle? What a great name. Is a three wheeled Harley Davidson.
Speaker 2:I love that. I got the chat pulled up. Yeah. They're saying ultra damn. Old...
Speaker 2:Ultra dumb was sold. Show is over.
Speaker 1:We're gonna prove you all wrong tomorrow. We're going back in the El Trudeau, and we're proving you. We didn't sell it. We didn't sell it. We didn't buy up.
Speaker 1:We don't We haven't been there today. We're gonna It might
Speaker 2:it might be gone. We're even seized.
Speaker 1:It might be gone. We do we we do on occasions. I'll sell you a lot. Gotcha. So Anyway, thank you for tuning into TBPN.
Speaker 1:Sign up for a newsletter at tbpn.com. Haven't sold that domain yet.
Speaker 2:They're saying Friday shows are the best. Good news is it's Thursday.
Speaker 1:It's Thursday.
Speaker 2:So we'll be back
Speaker 1:We got a Friday show tomorrow in the ultra down. We're proving you all wrong. You haters think we sold everything. We didn't. We're still going strong.
Speaker 1:Leave us five stars on Apple Podcast and Spotify. Sign up for our newsletter, tbpn.com. We still got the domain. Goodbye. Love you.
Speaker 1:Still works. Let's