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Technology's daily show (formerly the Technology Brothers Podcast). Streaming live on X and YouTube from 11 - 2 PM PST Monday - Friday. Available on X, Apple, Spotify, and YouTube.
I saved this for the show, so this reaction. I haven't seen the video, but I've seen the metrics around the video. It's got 15,000 likes just on a quote tweet of it. I think it's gonna be very funny. This is OpenAI showing the public its financials once it goes public.
Speaker 1:That looks pretty good. Getting a haircut. Looks good. Oh, no. You know, I've been watching these haircut videos, and they're actually incredibly good content because
Speaker 2:Dude, this that that that There's this video going viral Yeah. This guy's gonna be full giga chat mode within six months.
Speaker 1:I guarantee it.
Speaker 2:Guarantee it.
Speaker 1:Guarantee it.
Speaker 2:Guarantee it. He knew what was gonna happen. He did it to inspire himself to, I guess, look I
Speaker 1:looked at a, at a haircut video where, and it's it's incredibly sticky content because you're watching the guy describe what he wants, and then at the very end, they show you a a montage of the photos. And when it works out, obviously, that the the joke there is that, you know, it's a downgrade. It does make me wonder, like, there are certain like, can every different vertical, can every different type of content become, you know, high retention? Or are there some things that are just, more naturally, like, payoff based? Right?
Speaker 2:Yep. Scoop OpenAI could soon be worth 750,000,000,000 in a financing round. They've had early talks. Let's give it up for early talks. We love our We prefer advanced talks.
Speaker 2:Yes. But early talks. Alright. You gotta you gotta start somewhere. Early talks.
Speaker 2:About raising tens of billions of dollars or even a 100,000,000,000. The company was last valued at 500,000,000,000 a few months ago. Tae Kim chimes in, says public markets are crushing OpenAI exposed stocks, while private investors with visibility into OpenAI's metrics and internal numbers dot dot dot Are piling in essentially Both can't be right.
Speaker 1:I trust Katie Roof reporting. So he's saying that it's bullish for OpenAI? That's his take from this? That's what's
Speaker 2:Yeah, maybe some of the the publics have been oversold. That said, yeah, I'll be interested to see how this round comes together. Again, remember, it's I think it's a good time to be fundraising. If you need tens of billions of dollars if this, if Warner Brothers ends up going with Netflix, right? You're raising tens of billions of dollars.
Speaker 2:And you're not doing it from strategics like the hyperscalers. It pretty much has to be sovereign wealth
Speaker 1:If if they pass on Warner Brothers, they have they have they have loose change in the couch cushions to to toss OpenAI's way
Speaker 2:and they can collect
Speaker 1:to the tune of $10,000,000,000 checks potentially. I mean, does feel like OpenAI is at a bit of a, it feels like the it feels like the vibes around OpenAI, trough of disillusionment potentially going into plateau productivity. It feels like they're turning it around. It feels like the new models and the products
Speaker 2:are I know. Haven't I haven't seen many people say I love five point two. But then again, out outside in the real world, clearly, you know, ask people what AI app they're using. And that'll give you a lot of signal.
Speaker 1:I thought this just feels like like, you know, okay. Maybe maybe we're not in Baja Blast territory, but we know that every code red is followed by an equal
Speaker 2:Adult mode.
Speaker 1:Adult mode?
Speaker 2:It's coming in January.
Speaker 1:Yeah, maybe. But but it it it it does it does seem like a lot of the a lot of the negativity has kind of worked its way through. The market's traded down. There's maybe not another like it's like it feels like we're finding a bottom. We're finding like the footing of like, okay, reset the narratives, rebuild back up.
Speaker 1:Like, can they catch up in this? Can they catch up in that? If you see a couple of good charts, couple of growth charts, then, you're sort of back in business because, And again, I still think
Speaker 2:I still think the Disney deal
Speaker 1:negative is like, the point that I'm making is like is like a couple of months ago, it was like, it's Enron. It's gonna blow up. It's a zero. It's not gonna work at all. And it does feel like we're turning the corner on that.
Speaker 2:Maybe you did the people that that are still saying that because they're still saying it.
Speaker 1:They're still saying it. Well, it just got old.
Speaker 2:Funny post. Yeah. They say Sam says, sell me this pen. Jensen says, I'll lend you the money to buy it.
Speaker 1:Warner CEO David Zaslov and Netflix co CEOs Greg Peters and Ted Sarandos on the Warner Brothers lot. They took game day photo. They went out deliberately to just strut and just flex, and they clearly knew what they were doing. Hey.
Speaker 2:Well, this is their new lot.
Speaker 1:Viewpoint. You look over here. Guys, can we look over this direction? Okay. Yeah.
Speaker 1:That's perfect. Snap. Snap. Snap. They know what they're doing.
Speaker 1:No hostile offer can get between us. We're bros. We're hanging out. This is a sign of strength.
Speaker 2:Sun's out. There's palm trees.
Speaker 1:Yeah. This is this is them sending the signal, sending sending a signal. Hey. We're excited to work together. We're excited to be in partnership collaborating.
Speaker 1:There was one person who quoted this and was unhappy about it. Where
Speaker 2:is They were saying that they weren't well dressed.
Speaker 1:Yeah. They were saying that they weren't well dressed, and and he was like, I'm I'm kind of in that boat. It's not it's not
Speaker 2:that They threw on a blaze they threw on their their fucking blazers. Give give them a break.
Speaker 1:Hollywood executive style that's sort of, like, become the norm.
Speaker 2:But this is also a good way for for people that are maybe more on the tech side Sure. To start dressing up. You don't have to go from jeans straight into a suit.
Speaker 1:Mhmm.
Speaker 2:You can throw on a blazer. Mhmm. Right? Something to consider. Matt Levine is back.
Speaker 1:Yeah. He says back.
Speaker 2:Says I miss Christmas Eve in New York New Year's and the fourth of July holidays for newsletters a lot smaller than this. This is as good as it gets for newsletter writers. Well, he says Warner doesn't trust Paramount, revocable trust, ESG side let letters, IPO lockups, destiny, and doing deals over the holidays.
Speaker 1:Mhmm.
Speaker 2:Trust. If you're a normal person, most of your wealth is probably in your own name. But if you're one of the richest people in the world, you probably have a lot more complicated estate and tax planning, which probably means that a lot of your wealth is in trust, legal arrangements that your lawyer set up to hold assets for you. Most simply, you might have a revocable trust where your assets technically belong to the trust, but you have control over the trust assets, investment decisions, beneficiaries, etcetera. This can be useful for estate planning, but for most purposes, owning assets in a revocable trust is pretty much like owning them yourself.
Speaker 2:I regularly say that Mark Zuckerberg, Mark Zuck owns a lot of shares of Meta or that Elon owns a lot of shares of Tesla even though neither statement is exactly true. Their trusts own the shares. But for most practical purposes, you can think of they own them. This creates, I suppose, a small dumb problem. Let's say you build big yachts and Mark Zuckerberg comes to you and asks asks to buy a billion dollar yacht.
Speaker 2:Naturally, he will pay you the billion dollars on completion of the yacht. You might ask him, well, do you have a billion dollars? And he might say, no. Actually, I don't. But the Mark Zuckerberg trust owns like a bajillion dollars worth of meta stock, and I control that, so I'm good.
Speaker 2:You find that persuasive, so you pull up the yacht sale contract. Who do you put in as the buyer? If you put Mark Zuckerberg, he has no money. If you put the Mark Zuckerberg trust, it has plenty of money now. But if it is a revocable trust, he can just take all the money shares out whenever he wants.
Speaker 2:It's revocable. Mhmm. If he changes his mind about the yacht, he can clean out the trust. You'll send the bill to the trust, but the trust will have no money and you'll be stuck with the yacht. Not that bad of a situation to be stuck with a billion dollar yacht.
Speaker 1:But if you're in the midst of selling them, you certainly wanna be able to complete the transaction.
Speaker 2:I get the I get the point. This is very
Speaker 1:interesting.
Speaker 2:Honestly, is a pretty easy problem to solve. You put Mark Zuckerberg in the contract. He doesn't own the assets directly, but he controls the trust. So if he owes you a billion dollars, you can make make him take it out of the trust. But maybe you'll get confused or he'll get confused and you'll end up signing a contract with the trust.
Speaker 2:Then if he changes his mind, he can zero out the trust and stiff you. I cannot imagine that this comes up a lot with yacht builders or anyone else. Elon Musk once did sign a contract to buy Twitter for 44,000,000,000, then changed his mind and tried to get out of it. The fact that his wealth is mostly in a trust did not, at any stage of the proceedings, trouble anyone. He had signed his equity commitment in his own name, and everyone understood that if he was sued and lost, he'd have to pay with his trust money if necessary.
Speaker 2:And Twitter did sue him and he did pay. Fine. Fine. Fine. On the other hand, Paramount is trying to buy Warner Brothers Discovery, breaking up Warner's deal to sell itself to Netflix Inc, and Paramount does not have nearly enough money to pay for Warner.
Speaker 2:Instead, much of the money behind the bid comes from Paramount chief executive officer's dad, Larry Ellison. As of this writing, the fifth richest person in the world or the rather it comes from his trust. And this would be one of the greatest tricks in the history of mergers and acquisitions. One major sticking point is Warner Brothers, Brothers concern about the financing proposed by Paramount, which is led by David Ellison. A big part of the equity is backstopped by a trust that manages the wealth of his father, Larry Ellison.
Speaker 2:Because it's a revocable trust, assets can be taken out of it at any time, and Warner Brothers may have no recourse if that happens, the people said. Matt says, sure. The risk here is Warner throws over Netflix, pays at a $2,800,000,000 breakup fee, and signs a deal to sell itself to Paramount for something like a 108,400,000,000.0 in cash. For some reason, changing market conditions, regulatory difficulties, and a a change of heart by the Ellisons or a change of heart by their co investors, the Ellisons decide they don't want to close the deal. Quietly, in the comfort of his own home, without saying anything to Warner, Larry Ellison takes all of his stock out of the trust, leaving it empty.
Speaker 2:Yoink, he whispers to himself. Oops. Never mind, Paramount tells Warner. Warner sues Paramount for specific performance seeking to make it pay a 108,400,000,000.0 and close the deal. LOL, we don't have that kind of money says Paramount, which has a market capitalization of about 15,000,000,000 and about 3,000,000,000 of cash.
Speaker 2:When we signed the deal, you knew that the money was coming from the Ellison Trust. So Warner sues the Ellison Trust for specific performance seeking to make it pay a 108,000,000,000 and close the deal. LOL, we don't have that kind of money, says the Ellison Trust. We did, sure, but the trust got revoked. Yoink, adds Larry Ellison more loudly this time.
Speaker 2:So Warner sues Larry Ellison for the money. He says, who? Me? Says Larry Ellison. You have no deal with me.
Speaker 2:I didn't even know what you're talking about. This is not my problem. This does not strike me as especially likely and it would obviously be bad for Paramount and the Ellison's, but I suppose it is possible and it would be a pretty fun trick. Today, Warner officially rejected Paramount's bid advising shareholders not to sell their shares in Paramount's tender offer. Paramount's own tender offer says that Ellison equity commitment and guarantee will be from the Lawrence Ellison revocable trust, not from Larry Ellison himself.
Speaker 2:The offer points out that the trust is rich. The Ellison trust has financial resources well in excess of what would be required to meet its financial obligations under the equity commitment letter, including many other assets and financial resources available to it. Record and beneficial ownership of approximately 1,160,000,000.00 Wow. Shares of Oracle stock with a market value of approximately 252,000,000,000 as of the date of this offer to purchase. But as the name says, it's revocable.
Speaker 2:This seems extremely fixable. Have Larry Ellison signed the commitments personally?
Speaker 1:Yep.
Speaker 2:William Cohan reports that the whole situation is trains passing in the night and quote, the Ellisons believe they can still be sued for specific performance to fund the deal. He quotes a person familiar with their thinking saying that there is no financing condition in the deal and Paramount and the Ellison slash Redbird along with our lenders are legally obligated to close regardless of future financial or business performance of Paramount. That is not an impossible thought to convey in a merge in merger papers and yet so far they apparently haven't.
Speaker 1:The the real trick is obviously create a revocable trust and name it the irrevocable trust. Can
Speaker 3:you just do that? One simple trick.
Speaker 2:One simple trick. Ebony lawyers hate this one simple trick.
Speaker 3:Yeah. I I am wondering like if this is very common. Yeah. I mean, Matt Levine talks about this, but, why did Elon not do this during the Twitter buyout?
Speaker 1:That is a good question.
Speaker 3:Because it says Elon did sign the contract in his name In
Speaker 1:his own name.
Speaker 3:Which he could have just done to the trust, and then it he could have backed out when he wanted to.
Speaker 1:Well, I mean, one thing is, like, it feels like Elon, like, just rips checks and is was very much just like, yeah. I'm good for it. I'm going for it. I don't wanna play this game at all. Like, I because I'm all in.
Speaker 1:You have the full faith and credit of the Bank of Elon Musk, essentially. We talked about with, that when you make an offer for a big company, there's, the expected value of the close. And saying, hey, we have this backstop is something that increases the probability that you close, that the financing condition is met. But then saying, okay, we're doing it in a trust or a revocable trust takes that down a little bit. But again, there's a world where all of the different capital providers lined up, and you're not even talking about trust revocable or irrevocable because you never get there because all the different funds are jumping.
Speaker 1:I want to get in. I have to get my stake. I want 10% of this. Here's 10,000,000,000. I'm ready to I'm ready to go.
Speaker 1:You don't even care about the backstop or you don't care about the trust because everyone's lining up. The only reason that maybe they're in this scenario is because it feels like Warner Brothers did actually sort of kick the tires on the Paramount deal and get to the end state of evaluating it and saying, oh, well, like, we've heard you know, you you mentioned Jared Kushner's in. Like, is Affinity Partners really in? And when they push them, Affinity Partners just seemed like they might be out. I don't know.
Speaker 1:I don't know exactly what happened. But there's a variety of stakeholders that came in. And the level of it's not just that they were thumbs up, thumbs down. There were some that were that people said that they were thumbs up, they wound up being thumbs down. Some of them were here and they wound up being there, a little bit edgy depending on a lot of different folks where it's like putting together any other financing round.
Speaker 1:Ideally, every investor that goes into a seed stage company or Series A company is like, yes, I'm good regardless of who else is in the round. Every once in a while you get VCs who say, yeah, I'll sign a term sheet, but term sheets are non binding and we'll see how the round pencils out. I'll sit on this signature. I'm not going to sign this. I'm not going to wire.
Speaker 2:Or they would give a verbal and thinking that Sequoia is gonna come in. Yep. Sequoia doesn't. Yeah. And then they're like, oh
Speaker 1:Or vice versa. Yep. They give the they give the verbal. They sit on it. They're not wiring.
Speaker 1:They're maybe leaning back. And then Sequoia comes in or founder's founder, Andreessen, or someone comes in. And then they're like, wait, wait, wait. You said that I could get 2% of this company for 100 k. Like, give me my terms.
Speaker 1:And you're like, you didn't sign that doc. You were very much leaning out. I've been in that situation. Wall Street gets early taste of hot year expected for IPOs. Shares of a company called Medline began trading in the biggest new stock listing since 2021.
Speaker 1:Wall Street is getting a glimpse of what could be the biggest year ever for IPOs in The US After four years of choppiness in the market You didn't even let me get to the number. The medical supply company raised $6,300,000,000 in its stock offering. The stock closed at $41 a share, massive offering. It's the biggest IPO since Rivian, actually, in 2020 We're the largest company no one's ever heard of, said the chief executive, Jim Boyle. So the offering could help set the stage for some of the most highly anticipated IPOs, with rocket maker SpaceX, AI company Anthropic, and mortgage giants Fannie Mae and Freddie Mac among the companies looking at listings in 2026.
Speaker 1:OpenAI also rumored. There's a couple other companies that might go out.
Speaker 2:There's a bunch of tech darlings that are look kind of like infants in comparison to to
Speaker 1:But still might be at a level of maturity to go out.
Speaker 2:Very notable. Yeah. Like companies that are basically at Figma scale.
Speaker 1:Sure. Yeah. Yeah. Or or or even beyond. For a long time, you know, if you're a $10,000,000,000 company in the tens of billions, the decacorns, the any decacorn should be comfortable going out potentially, as long as they're not in some crazy R and D cycle and they actually have the core financials humming at this point.
Speaker 1:Bankers say their teams have been busy in recent weeks pitching companies to be lead advisor on their IPOs, marking a pickup in activity. Many startups had eschewed going public in recent years. I'm not sure that's entirely true anymore, said Magdalena Henrich, head of US Technology Equity Capital Markets at Bank of America. In our newsletter today, we did a little review of the model wars. What a year.
Speaker 1:Just in terms of model releases, August 7, OpenAI releases, GPT five. September 29, Anthropic releases Claude Sonnet 4.5. Then the day after, OpenAI releases Sora two. The same day, Meta releases the Meta Ray Ban's displays. November 3, OpenAI and Amazon announced a partnership valued at $38,000,000,000 November 12, 5.1 drops from OpenAI.
Speaker 2:Yep.
Speaker 1:November 17, xAI releases Grok 4.1. November 18, Google releases Gemini three, massive response to that. It's crazy that that was just one month ago. November 20, Nano Banana Pro comes out. Then November 24, Anthropic releases Claude Opus 4.5.
Speaker 1:We talked to Sholto about that. And then December 1, DeepSeek releases DeepSeek version 3.2. And, of course, before the end of the year, OpenAI had to fire back with GPT 5.2 on December 11. And then December 17, Google releases Gemini three Flash.
Speaker 3:Also, today, I think OpenAI released 5.2 Codecs. So, like, the, you know, coding models. I I think there's this whole narrative where like, oh, AI is stagnating.
Speaker 1:Yeah.
Speaker 3:But it's like, bro, look at the benchmarks. Like, it's like, it's on the trend.
Speaker 1:Look at the benchmarks. They're saturating. There was a moment where just multiplying two really, really big numbers together in a you know, on a computer, like, you needed more memory to do, like, you know, thousand digits times a thousand digits. We need to get you a a massive winter coat to get through this AI winter because the AI winter is happening, dude. I'm telling you.
Speaker 3:There's no AI winter.
Speaker 1:There is there is a there's an I mean, it's the age of research. Okay?
Speaker 2:The age of research is It's like June next year. It's hot in the Ultradome. Tyler, just keep the coat on, buddy. You can't take it off till it's over.
Speaker 1:Till it's over. The progress
Speaker 3:is People want AI to stagnate so bad.
Speaker 1:People They do.
Speaker 3:So many people want that.
Speaker 1:They
Speaker 3:do. And it's not happening, though. It's, like, the models are getting better.
Speaker 1:Everyone without bags is saying it's stagnating.
Speaker 2:Well
Speaker 3:No. No. Because all those people Oh, are like I missed in video or whatever.
Speaker 1:Oh, know, they want You think think Kirkpatrick's like I missed in video, so I gotta go trash AI.
Speaker 2:And he's Well, think we can all agree, Tyler, that it's the age of research, but it's also the age of deals.
Speaker 1:Okay.
Speaker 2:Gotta talk about Let's go. We gotta talk about Trump media and technology. This morning, I woke up and a lot of people that do like mental health podcasts, they say, look at your phone within five seconds Yeah. Opening your eyes.
Speaker 1:Yeah. Just
Speaker 2:immediately connect with the Internet and just sort of start kinda marinating in in all the notifications that you maybe got over the last eight hours. Yeah. That's what I did this morning. I I I opened my eyes. I immediately grabbed my phone.
Speaker 2:I see this push notification. I think it was from Bloomberg that Truth Social Parent to merge with nuclear fusion firm in a $6,000,000,000 deal. And I thought I was dreaming still because it just seemed insane. Trump's been so active this year on the on the deal making side. Who would have thought he had another multibillion dollar deal to do this year?
Speaker 2:So of course, Trump Media and Technology Group, the social media and crypto company, part owned by president Trump said it would develop a utility scale fusion power plant. President Trump's social media company, which recently expanded into streaming and cryptocurrency, is now entering its fourth act. Fusion power.
Speaker 1:Mhmm.
Speaker 2:Promising but still unproven source of alternative energy. DJT and Tay Technologies have said Thursday they had agreed to an all stock merger that the company's valued at more than 6,000,000,000. The deal would be a metamorphosis for Trump Media, the money losing parent company of True Social, a social media platform that has struggled to gain market share beyond serving as the main online megaphone for president Trump. Mr. Trump is the company's largest shareholder with a large stake worth more than 1,000,000,000 that is held in a trust where trusts trust maxing of course, managed by Don Junior who is a Trump media board member.
Speaker 2:The company based in Sarasota, Florida has only a few dozen full time employees and has recorded tens of millions of losses in recent years. The merger with Tay would create one of the first publicly traded nuclear fusion companies according to the release.
Speaker 1:You know, people are gonna talk trash about like, oh, what is a what is a social network doing building energy assets? But you look at what Amazon's doing building massive data centers where for AWS. Amazon owns Twitch. That's a social network. What else does Amazon own?
Speaker 1:Well, they own some diesel generators for backup power at the data centers. Fusion, theoretically cleaner. Who would have thought that out of the Silicon Valley tech people, they would be using diesel while the big guy is is using clean energy to power his social network.
Speaker 2:Fascinating. Fascinating.
Speaker 1:Stuff.
Speaker 2:Truth Social's also getting into the prediction market game
Speaker 1:No way.
Speaker 2:Launching a native prediction market feature in the app.
Speaker 1:It's crazy that they're not They wonder if they'll
Speaker 2:be like predict would have Trade on what
Speaker 1:because you can
Speaker 2:Trade on the content of Trump's next post.
Speaker 1:Mhmm.
Speaker 2:I am interested to see how Mhmm. The, you know, future presidents approach business. Right? Who was the guy with the peanut farm?
Speaker 1:Jimmy Carter.
Speaker 2:He got into a little hot water because of his peanut farm. I think he didn't fully divest.
Speaker 1:No, he did divest.
Speaker 2:But he still got in hot water?
Speaker 1:No. It was it's just remarkable because the peanut farm was so small and so insignificant in The U. S. Economy and even in his personal balance sheet. But the fact that he was saying, look, I don't want any idea of impropriety, so I'm going to divest from a small peanut farm that I'm, like, associated with so that no one can say that I'm in the pocket of big peanut or I'm pro Little peanut.
Speaker 1:Or little peanut. And so the fact that the the fact that Jimmy Carter, divested from the peanut farm, he was not he was not, you know, in big oil or a railroad baron or associated with banking. He had he had very little conflict of interest, and he reduced it even further. That's always been a sign of, like, the what what great looks like.
Speaker 2:Trump has been in founder mode for a long time, getting all kinds of criticism about the business from people who aren't actually in the arena.
Speaker 1:We I it it is it is crazy the degree to which he is a successful technology founder.
Speaker 2:People can take have their issues with the the president, but they cannot deny that they cannot say with a straight face that he is not a technology
Speaker 1:founded a unicorn tech company.
Speaker 2:He's never taken a social media app public.
Speaker 1:You can't say that.
Speaker 2:You can't say that. He's never merged with a a nuclear fusion, you know, company backed by Chevron
Speaker 1:You
Speaker 3:can't say
Speaker 2:that. Google and Goldman Sachs.
Speaker 1:Almost $1,000,000,000,000 has been invested into AI so far, and that may just be the start. Look at this graph or this this is an interesting way to to visualize the flow of money because we see it as these, like, moments in time, a $10,000,000,000 deal here, a $100,000,000,000 deal deal deal there. This is showing, the investment over time, and you can see, you know, NVIDIA flowing to Amazon and, all the different companies. Where's OpenAI? OpenAI is just flowing around.
Speaker 1:It's just a just a cool little, like, you know, data visualization. I I thought this was this was fun to look at. Can't wait for this AI bubble to pop so we can all go back to normal just like how the Internet completely disappeared after the .com bubble popped. It's another bullish take for AI. It's not going anywhere.
Speaker 2:Yeah. You agree?
Speaker 3:It's a great take.
Speaker 1:It is a great take. And 18,000 people agree it's a great take. I also think it's a great take. This doesn't seem so fast takeoff build, more Internet build, which is slow takeoff. The Internet has slow takeoff.
Speaker 1:Everyone thought it was gonna be the Internet is the superhighway. It's gonna be, you know, a thousand x growth that Yahoo's gonna be worth a trillion dollars, like, you know. And then, you know, it kinda settled in. It took a while for things to to to find use cases, find value. But eventually it did transform everything.
Speaker 3:But this
Speaker 1:time it's
Speaker 3:I mean, yeah, this time it's different. Exactly. Right? Well, because this time we have the Internet, so it's way faster to do distribution.
Speaker 2:Yes. I don't wanna I don't you weren't even alive
Speaker 1:in
Speaker 2:there, Tyler. I don't even wanna don't
Speaker 1:I was racking servers in a data center while you were in the cradle.
Speaker 2:More importantly, this Chinese streamer cut the Apple Vision Pro's weight in half Woah.
Speaker 1:Is an
Speaker 3:alien bullet.
Speaker 1:That's genius. I this is this is innovation. This is crazy innovation. Wow.
Speaker 2:Imagine walking into an office and every person there is just locked in with a balloon.
Speaker 1:This is somehow more cyberpunk than just the default, put the big screen on your face. I like this.
Speaker 3:And people say the Chinese can only copy and they can't invent new stuff.
Speaker 2:That's not true. Not true. If you're a class clown coded, which I certainly am, imagine walking around the office and just with a little needle.
Speaker 1:No. No. No. No. No.
Speaker 1:No. I think
Speaker 3:This doesn't actually it's not gonna
Speaker 2:hurt them.
Speaker 1:It's still
Speaker 2:strapped to their head.
Speaker 1:But you're popping their balloon, then they have to go get more helium, and helium is a scarce resource.
Speaker 2:I want this guy to make a personal blimp. It's just like a a harness you can put on with enough
Speaker 1:Yeah.
Speaker 2:Helium to just take you up.
Speaker 3:Yeah. I think the Mythbusters did that. Yeah. You just get a bunch of balloons. Yeah.
Speaker 1:And and it worked?
Speaker 2:Did they doing that and then skydiving down would would be would be pretty cool. Mhmm. You should work on that over over the over the winter break.
Speaker 1:Oh, this is so so funny. Big news. Alpha ton a ton of alpha. We got a ton of alpha over here at Alpha Ton Capital. We're making a historic $30,000,000 strategic investment in Andoril Industries, and they tag them So we are investing in the future of defense tech and the convergence of decentralized AI with next gen national security.
Speaker 1:This is a strategic bet on the companies of the future. This unprecedented investment positions AlphaTon at the forefront of next generation defense technology infrastructure, marking a pivotal moment in the convergence of public markets and advanced national security capabilities, Nasdaq, Aton. And so they're trying to become an, like, holdco, basically,
Speaker 2:Treasury company.
Speaker 1:Treasury company. And Palmer just, quote, tweets them into the stratosphere by saying, Alphaton is lying. This is not true. Public heads up to CEO Brittany Kaiser slash own your data now, the whistleblower who is Bitcoin, Alphaton Capital, that's the, I guess that's the owner of this. You do not have permission to use my trademarks to defraud your investors.
Speaker 1:And Britney says, hey, Palmer, we signed an agreement to purchase economic exposure to Andoril shares through an SPV and to accumulate more exposure over time and offer access via formal secondaries product. Given our network's demand for your innovative tech, I will issue a clarification. And Palmer says, that isn't what you and your company said, though. To be extremely clear, Anderol has to authorize these types of transfers, and I will not authorize it. Wow.
Speaker 2:Like, this looks like an AI bot. It's just, like, posting, but this is a public company.
Speaker 1:It you'd yeah. It does look like just some sort of, like, complete slop scam. Like, you would assume that you would assume that if you go down this particular funnel, you wind up at, like, hey. You know, like, send me some random crypto or something. Like, it it it feels very scammy and it's I mean, it it you know, Palmer is sort of calling it a scam, but, it is a public company, I guess.
Speaker 2:Well I'm sure Andrew Roll's legal counsel will really enjoy
Speaker 1:Having a nice calm holiday weekend, I'm sure while they clean this mess up. One of many chew by. This is the new phrase. This is the new word you gotta learn.
Speaker 2:Chew by.
Speaker 1:People know chopped.
Speaker 2:People Dutch know Bushwick says, recently invented the word chewbai, which is when something is both chops and also spiritually do buy. Examples, Sohuis, Goyard Goyard. Pandora, Carbone, Kith. Drop your chewbai things in the comments. So house, I gotta say, I think it's spiritually very English.
Speaker 2:I mean, that's obviously the origin of it. But but yeah, again, again, the But
Speaker 1:is England spiritually Dubai now?
Speaker 2:Who knows?
Speaker 1:It's possible.
Speaker 2:Oat milk is definitely Chewbai.
Speaker 1:Better to be Chewbai than just chopped though.
Speaker 2:Don't. Yeah. But also I don't
Speaker 1:don't wanna
Speaker 2:there's a lot of great things about Dubai. Yeah. You can rent an SF90 for the day for like a grand. I did that at one point during f one in 2020 If 20
Speaker 1:you ever fall off, people are gonna be calling you Chubai for sure.
Speaker 2:Chubai.
Speaker 1:Massive Balenciaga sneakers. I saw these at breakfast this morning. Are those two buy?
Speaker 2:Ben says imagine looking for a new show and finding this.
Speaker 1:It's so I was just laughing at like, yeah. The the the sack and the dong doesn't even make noise. Oh, god. You're really Yeah. We're tracking.
Speaker 1:With all due respect to TVPN, I think this gets things a little backwards. CBS is basically unique in the network news business in being able to generate buzz. Sixty minutes still has great ratings and other CBS News properties produced talked about stuff too. Let's see his examples. So he has an he has an older man and a younger woman next to each other.
Speaker 2:Do you know who that is? I don't. That is
Speaker 1:Does he run the Navy? He has a Navy shirt on.
Speaker 2:I he runs football.
Speaker 1:Okay. Football player. Cool.
Speaker 2:And Football then
Speaker 3:player.
Speaker 1:What position does he play? Isn't he a little old to play football? I thought you had to be like we had Segway on the show. I thought you had to be
Speaker 3:like His shirt's looking a little rough.
Speaker 2:It's vintage, Tyler.
Speaker 1:Good. He said the reason why Ellison wanted CBS and wanted Barry to run it is precisely because it was still capable of creating buzz and generating attention. Still got it over there. And, yeah, seems seems seems seems good. It does feel like it's breaking through in a different way.
Speaker 1:It feels like it's like like the the content is is shifting to something that's more is certainly breaking through. I see I see the clips. I feel like I see the clips more. But In other news, Tim Sweeney says that Fortnite will not return to iOS in Japan in 2025 as promised. Apple was required to open up the I o iOS to competing stores today.
Speaker 1:And instead of doing so, honestly, they have launched another travesty of obstruction and law breaking and gross disrespect to the government and people in Japan. Apple chose poorly again.
Speaker 2:Tim Sweeney is Apple's worst nightmare.
Speaker 1:It's crazy. Very few companies have, like, such an outspoken just hater. You know? Like It
Speaker 2:was heavily heavily heavily heavily inside?
Speaker 1:Sam Altman has Elon. He wants Fortnite to be free. At least not completely free, but free to to run their own stores. Arcway. This was an interesting
Speaker 3:By
Speaker 2:Caleb Barclay. The Arkway.
Speaker 1:Oh, funny.
Speaker 2:A real time three d engine where anyone can design a home. It is a simulated three d world where buyers explore, change, and decide as light physics, building rules, and real products move as one. Very cool. I've seen Redfin playing around with some
Speaker 1:by NDVC. Yeah. I wonder if this will be wound up be integrated into Zillow so you can, like, fully tour the house. This has always been sort of the dream. The Matterport team did a big job, like, pulling up, like, you know, three d environments, like, you know, spherical scans of various rooms within a home that you could see, and a lot of that got wound wound up getting integrated to Zillow and Redfin.
Speaker 1:And okay. I wanna know what it looks like during Christmas. I wanna know what this house looks like. Yeah. We'll see.
Speaker 1:Any breaking news?
Speaker 3:Turns New executive order centered around the kind of, NASA stuff. It's called ensuring American space superiority.
Speaker 2:They want you to executive switch order, and the top story is Trump signs executive order expediting marijuana reclassification after lobbying from cannabis industry over at CNN. So he's really taken us to space.
Speaker 1:Who is yeah. I guess. Who is lobbying cannabis industry? I feel
Speaker 3:like Okay. Well, this yeah. Different space I'm talking about. So one is he wants to it's Protees are returning Americans to the moon by 2028 Mhmm. And establishing initial elements of permanent lunar outpost by 2030.
Speaker 3:So And then prepare for journey to Mars. Mars is is less kind of concrete. Mars plans.
Speaker 1:I feel like his his you should add get Trump to space. He's never been. Take him on a little field trip. Get him pumped up. Put him on a rocket.
Speaker 1:Get him up there. Get him back. That'd be fun.
Speaker 2:I feel like Trump would wanna be the first president to go to space.
Speaker 1:That does feel like something he would wanna do.
Speaker 2:Or I also feel like he'd wanna rename the moon Trump Moon.
Speaker 1:Trump Moon.
Speaker 2:Moon? Or just Trump. Drop the moon. Yeah. Oh, that's planet Trump.
Speaker 1:Planet Trump isn't wild. I mean, there's
Speaker 2:a lot there's you maybe could have a Melania planet too.
Speaker 1:Mars. Call of Mars. Yeah.
Speaker 2:We will be back tomorrow for the final show of the year. It will be surreal. And thanks for hanging out with us today and our guests. And we hope you have a lovely afternoon. Goodbye.
Speaker 2:Love you.