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TBPN is a live tech talk show hosted by John Coogan and Jordi Hays, streaming weekdays from 11–2 PT on X and YouTube, with full episodes posted to Spotify immediately after airing.
Described by The New York Times as “Silicon Valley’s newest obsession,” TBPN has interviewed Mark Zuckerberg, Sam Altman, Mark Cuban, and Satya Nadella. Diet TBPN delivers the best moments from each episode in under 30 minutes.
We have some really exciting news. We heard you loud and clear.
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Speaker 1:more supporters of the show. Incredibly back. Yes. We're very excited. So expect to hear ads throughout the show.
Speaker 2:It's funny. We we heard over and over and over. I'm not joking. Yeah. I get sarcastic a lot.
Speaker 2:But we heard over and over and over that Number one. Neromyce palate cleanser. Yep. It's like turning the page Yep. Right?
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Speaker 1:And we love these companies. We want to help them grow. We've always been huge fans of the companies that we work with. So we're very excited to have them back. Let's turn over to YouTube and Hollywood.
Speaker 1:Break out news in Hollywood. YouTubers winning at the box office. YouTubers finally breaking through to Hollywood. Feels super long overdue. Ben Thompson had a good victory lap post because he predicted this all the way back in 2017.
Speaker 1:It took a decade to get here, but YouTubers are fully in control of Hollywood and there's a bunch of crazy statistics. But 2026 really is the year that Hollywood and YouTube finally it feels like they found a way to work together in perfect harmony. It honestly seems win win here.
Speaker 2:Yeah. But Not Yeah. Total disruption.
Speaker 1:Yeah. Right? No. No.
Speaker 2:Not
Speaker 1:that. Actual collaboration. And so, I mean, we all know Hollywood's been faced with a ton of challenges. I was just listing them off. Off the top of my head, what's this?
Speaker 2:Trey says, a TBPN without ads is like a human without a heart.
Speaker 1:Couldn't say it better myself.
Speaker 2:I was just Ryan says, calling in to the waiting room and not the restream waiting room was a crime.
Speaker 1:Yes. That's true. So I I was just listing off like all of the challenges that Hollywood has faced over the past couple decades, and it's so bad. It's piracy. Like you used to just be able for a lot for all through like the mid two thousands, people would just download movies.
Speaker 1:Then better TV shows, like TV just got so so much better that that really took a lot of gas out of Hollywood because it used to be if you wanted something cinematic, you had to go to the theater. And then Game of Thrones came out and all of a sudden TV, we went through like the era of great TV. Streaming, obviously, that moved a lot of people out of theaters. COVID, that shut down the movie industry entirely. There were strikes, the double strike, writers and directors strike, and a whole bunch of other strikes that went on.
Speaker 1:There was competition from other production markets, lower cost, and that, you know, that can sometimes help certain elements of Hollywood, but it also hurts Hollywood, the physical place.
Speaker 2:Yeah. Mean meanwhile Yeah. Streaming just created such a massive boom Yeah. In spending Yeah. On like a bunch of random projects.
Speaker 2:Not necessarily like like blockbusters, but just like every platform needed more content.
Speaker 1:Yeah.
Speaker 2:And there was a lot of competition.
Speaker 1:Yeah. So throughout all of that, there was sort of a silver lining. I mean, the the streaming thing is a big one of that, that there were jobs and projects that were getting greenlit on streaming platforms, but also just the creator economy. Like, even though the number I was looking at the number of, like, shoot traditional Hollywood shoot days in Hollywood, it's fallen off a cliff post COVID, never fully recovered. But the number of people working in front of the camera, behind the camera, around the camera in broadly has obviously gone up throughout the creator economy.
Speaker 1:Boom. This was always unsatisfying to cinephiles though, because no matter how viral a TikTok goes or no matter how much money MrBeast or some other creator like makes, it never feels as as culturally important as the Godfather or some other or the Titanic or some some movie that everyone comes together, everyone has this shared cultural experience around. We were all in these like little bit of these like isolated niches and, oh, yeah. I I I'm really into this creator. But anytime I try and bring it up to anyone, they don't know what I'm talking about.
Speaker 2:Yeah. Our our shared our our moment is I see a meme starting to grow Yeah. And I tell you I I make the call to you
Speaker 1:Yeah. Yeah.
Speaker 2:And and then we just kind of bet on it, basically.
Speaker 1:But even those, it's very hard for them to break out to such a degree that you can bring it up to anyone, your your little nephew or your Sure. Uncle and they both have an understanding like they did during the Titanic era, like they did during the Godfather era, like they did during Star Wars, which is at the center of the story because The Mandalorian and Grogu is the latest Star Wars project, and it's actually been declining in the box office. It's been eclipsed, and there's been three movies that have been really, really breakout performances. So also, the Oscars are gonna be streamed on YouTube in 2029. It feels like by 2029, this this whole this whole trend is gonna be in full force.
Speaker 1:So look at the stats. So, Kane Parsons Backrooms opened to roughly 81,500,000 in North America and a 115,000,000 worldwide on a $10,000,000 budget reportedly. Curry Barker's Obsession climbed is climbing in his third weekend and hit a 104,000,000, 104,700,000 domestic, becoming Focus Features, highest grossing domestic release from a movie widely reported to have cost around 1,000,000. That seems
Speaker 2:And right now on X, every single day Yeah. There's a post that goes viral about Obsessions return on their budget. Yeah. They're like, this million dollar film. Yeah.
Speaker 2:You know, it it's just happening over and over and over. Yeah. And then And so, like, the business story
Speaker 1:Oh, it's huge.
Speaker 2:To me is, like, way more I mean, is everything.
Speaker 1:Definitely. Definitely. And then we also talked about this earlier, and it's sort of looped in with this, but Markiplier, another YouTuber, released Iron Lung, which he financed himself $3,000,000 production budget reportedly, and opened to 18,200,000 domestically before grossing 41,100,000 domestic, 51,200,000 worldwide, huge return on investment. And so it's easy to point to these as sort of the story is a YouTuber with a big audience just converts that audience into ticket sales. But that's not exactly it's not really that clean, and there's a bunch of counterexamples.
Speaker 1:So are you familiar with Ryan's World? Ryan's World is this massive kids YouTube channel.
Speaker 2:Oh, it's been like a toy unboxing? Yeah.
Speaker 1:Yeah. Yeah. Ryan would unbox toys and it became a huge huge channel. And they actually made Ryan's World the Movie Titan Universe Adventure, but it grossed only 6 and $24,000 on something like a $10,000,000 budget. And so he wasn't able to convert that audience directly over.
Speaker 1:And I think with someone like Ryan Young
Speaker 2:Was he encouraging children to take their parents' keys and wallet and just go down to the movie theater? Cause that's part of the issue with these channels and and monetizing them is there's somewhat of a there's a disconnect between the audience and who the actual like buyer is. Yeah. The person that controls purchasing Yeah. Power in the household.
Speaker 2:So you might have like an eight year old kid Yeah. Who loves these videos. But anytime they actually want to act on Yeah. The content, they have
Speaker 1:to There's a translation step. Sometimes that can work, though. You know, you see the advertisements of the the toy on the cereal box and the kids demand the toy. What is different about Backrooms, Obsession, and Iron Lung is that the filmmakers had they'd shown, they didn't just have huge audiences. Like, some of these Markiplier is a truly large creator, but the folks behind Backrooms and Obsession are in like the single digit millions.
Speaker 1:Alone, if they didn't have the creativity, if they didn't have the risk taking abilities to actually produce something that could sort of draw attention in theaters, I don't think they could have just converted their subscribers over. Like, the conversion rates just don't match up because if you're on 1,000,000 subscribers and you did a 100,000,000 in box office, the math just doesn't match up. Did some did everyone go did all of your subscribers go see it five times and make $20 each time? No way. That's not what happened.
Speaker 3:Yeah.
Speaker 1:The idea of like this creativity, risk taking, new IP, this is like at the core of Hollywood successes. I was reading The Hollywood Reporter. They were saying like, this harkens back to like the 1970s. George Lucas' first film. Ben Thompson has a great analysis that we can read through.
Speaker 1:But these creators aren't just big influencers with millions of fans. They do have big audiences, but they also stand above their peers in terms of artistic vision. So Curry Barker had a YouTube sketch channel called That's a Bad Idea, where he learned how to quickly and effectively write, act, and edit for a tight audience feedback loop. Backrooms has a similar story. Kane Kane Parsons, who goes by Kane Pixels, produced his original series, The Backrooms, in Blender and After Effects.
Speaker 1:And the Internet myth had laid a bit of the groundwork, and we can go into some of the lore of Backrooms. It's a very fascinating story. It all started with, like, a single image of a furniture store that was being renovated at the time, and that picture just went viral and went and just like kept building lore and became one of these like creepy pastas, and then eventually, you know, turned into his YouTube series, which turned into this film. And it's one of these like very interesting origin story behind a piece of intellectual property. Typically, you don't see just a random image go viral and become a movie, but let alone a successful movie, but here we are.
Speaker 1:Being able to create something engaging for social media virality is probably somewhat important to creating a film that works in theaters. I think there is some stuff that translates. We're seeing this with the sort of like YouTubification or retention editing on Netflix. But I think the bigger value is being like a full stack filmmaker. So gone are the days of showing up to Hollywood with a manuscript and just expecting the studio to do the rest for you.
Speaker 1:I think that the traditionally segmented teams on productions are simply too expensive to do to be deployed on anything but existing IP. So the dedicated writer, the dedicated cinematographer, the Yeah. Dedicated sound designer, that'll show up for The Mandalorian and Grogu because they know that there's a certain amount of people that will just see every single Star Wars movie. Yeah. But to take a risk on new IP from a new creator, you have to understand that that creator is gonna be able to leave their fingerprints and actually drive every piece of the production.
Speaker 2:Yeah. How do how do you think the big studio execs are processing these two these two films? Because you would think, okay, movies are a hits driven business. Mhmm. If you have a $100,000,000 budget Mhmm.
Speaker 2:Like, thinking about it like an if you're an early stage investor Mhmm. Like, super early stage seed series a Mhmm. And you have a $100,000,000 to invest Mhmm. Like, sometimes the best move would be putting a $100,000,000 into one team. But there's a reason that people say like, hey, we're gonna make 20 to 30 investments Yeah.
Speaker 2:Across this fund, maybe maybe more depending on the strategy.
Speaker 1:They're doing a lot more Yeah. $10,000,000 films.
Speaker 2:Yeah. And so and so it it feels like it's made so much sense Yeah. Because one film can generate the entire
Speaker 1:Fund returner.
Speaker 2:Can be a fund returner. But at the same time, there is it is it studio execs that just love the rush of just like doing a big deal? Right? Oh. Is it is is there some As opposed to Not like not like financial incentive Yeah.
Speaker 2:Where like there's just some like the status associated with putting together like a blockbuster.
Speaker 1:I don't know. I do think we will see more $10,000,000 films, more more lower budget films. It feels like there's definitely a certain breed of Hollywood executive that their whole skill set is aligned to how can we put $100,000,000 $200,000,000 to work and actually guarantee a return on that. So they're going to be working on the Avatars and the Marvel movies and the DC movies and the Harry Potter movies. But for the next generation, that that track feels like very much bought in.
Speaker 1:So there are already more of these sort of like YouTube adaptations in the works. One is from Wesley Wang who went viral for interestingly, Obsession and Backrooms are both horror films, which are notorious for being cheap to produce and potentially very high return. He went viral for a non horror YouTube short called Nothing Except Everything. TriStar picked it up with Darren Aravnowski's Protozoa producing, and Wang set to adapt it as writer director. And then there's also the much sillier but extremely viral Skibbidi Toilet, which was created by Alexey Gerasimov in 2023.
Speaker 1:And that project has been going back and forth, but reportedly Michael Bay was attached at one point. They were thinking maybe TV show, maybe a movie. But that as silly as that sounds and as ridiculous as that series is, it did build like a little bit of a lore world. It captured a lot of people's fascinations and the numbers are really staggering. There is a little bit more nuance there because on the IP side, because it was created in Source Filmmaker, which is basically like Half Life or Counter Strike.
Speaker 1:So you design the level and then you can move the camera around through that. He didn't use Blender and he didn't shoot it with a camera. He actually made the whole series in a video game. And a lot of the assets pull from Half Life two or Counter Strike Source. And so, if you want to maintain that, you have to go do a deal with Valve, which, you know, is a private company owned by Gabe Newell.
Speaker 1:It doesn't necessarily need to just allow someone to do this, and there's already been back and forth on, like, takedown notices. So that's a whole different negotiation if that winds up making it to the silver screen. But I do think there will be more unpredictable breakouts in coming years, and I wouldn't be surprised if we see Hollywood executives combing through obscure YouTube playlist for new gems. And some members of our production team saw both Backrooms and Obsession, and I wanna get some reviews. What do you what what did you guys think?
Speaker 1:Which one was better? Take us through it. My vote's Obsession. Obsession.
Speaker 4:Scott, what'd think? Obsession.
Speaker 1:Okay. And what did you like about each one? What did you dislike about each one?
Speaker 4:So Obsession was great. I feel like the filmmakers have gotten too good at making horror movies sometimes recently. Okay. Like this like Ari Aster type wave. Okay.
Speaker 4:I remember leaving mid summer and just feeling like like gross for Yeah. Like days. And I felt like Obsession like walked it back a little bit and it was a bit of a comedy too. It was fun. Okay.
Speaker 4:I felt like the the memes are all over it, which is great.
Speaker 1:Yeah.
Speaker 4:Backrooms, we all kind of walked out. I love backrooms. Production design should win an award. But Yeah. Something was missing from the movie, I think.
Speaker 1:Apparently, they built 30,000 square feet of actual set for Backrooms. They really designed it. As you said, the production design was fantastic. And that feels like I mean, the source material is literally in Blender. It would be so tempting just to be like, yeah, just send us the Blender files.
Speaker 1:Like, we'll just continue using like, you're already working in CGI. Like, it's not like, oh, this isn't true to the source material. Like, it's actually less true to go build the set. But they did, and clearly, you enjoyed that look and feel and sort of worked out.
Speaker 4:That was really fun. Scott's got something. I wanna shout out Haley Johnson who produced Obsession two. She went to film school. Fantastic.
Speaker 1:Let's go over to Ben Thompson.
Speaker 2:Guys' class at your film school Gojin. I think no longer exists. Truly insane caliber of talent to come out of that school. Done.
Speaker 1:So Ben Thompson reflected on this as well. He was taking this victory lap on calling this in 2017. He said, in in 2017, when the first public allegations were made against Hollywood producer Harvey Weinstein, I wrote Goodbye Gatekeepers about how the traditional structure of Hollywood, where the supply of people who wanted to make and be in movies far exceeded the demand for movies to be made by Hollywood, created the conditions for his predation. So he had a lot of power. As he noted in the article, a similar structure used to be the case in newspapers, which not only gated what news was reported but also leveraged that gate to monetize via advertising.
Speaker 1:However, the Internet had long since broken down the gate in both regards. Meanwhile, I raised the specter of something similar happening to movies. Don't forget YouTube. Video is a zero sum activity. Time spent watching one source of video is time spent not watching another.
Speaker 1:And YouTube showed over a billion hours of video every I've seen entire 16.
Speaker 2:With two phones. Watching two things? Reels on both phones.
Speaker 1:Yeah. Subway surfers. Screen. Yeah.
Speaker 2:Just going like this.
Speaker 3:Well, if you have VR, you can have way more screens open. You can. Because you can just
Speaker 1:You can. When is Subway Surfers getting an adaptation? That feels like that's due for a trilogy. Subway Surfers, the movie? I think we got something.
Speaker 1:Are they are they has we cannot be the first people to think of Subway Surfers
Speaker 3:Angry Birds is like us, you know
Speaker 2:Oh, yeah. They're making a third one or No. But I want it to be a movie where you're just like you're basically just going one direction.
Speaker 1:No. It has to be a gritty horror film that takes place in in the Subway Surfers universe. So Ben Thompson continues. He says, it's not a surprise that the breakthrough moment for YouTube stars in film took nearly a decade to materialize after that article. I've long noted the sequence through which the Internet and digital media has affected media.
Speaker 1:Text first, then music, then short form video, etcetera. Movies, the pinnacle of traditional media, are the hardest to both make and distribute, particularly if the goal is to make it into theaters. And of course, movies ask the most of customers in return. They actually have to leave the house. Ben Thompson continues.
Speaker 1:He says that leads to two true but ultimately unsatisfying answers as to why YouTube stars might succeed in movies. First is that this is simply a new place to discover talent, and that's certainly true. The analogy I would draw is to the impact AWS had on venture capital. Cloud computing reduced the cost of starting a company to nothing more than the opportunity cost for the founder's time and perhaps a bit of seed funding for a few engineers, and that created an entirely new asset class of angel investors. Venture firms, meanwhile, didn't evaluate companies based on a PowerPoint to fund Sun servers, but rather on actual products and market signals.
Speaker 1:So it is with this new wave of talent the cost of production has plummeted such that a creator can be evaluated on their creations, not just their ideas. That's what I was talking about. The YouTube growth and the YouTube product and the YouTube series that gets 82,000,000 views in the in the example of Backrooms, like that is the audition tape that gets you the production workforce behind Hollywood to to actually marshal behind you. And that's the same thing with, you know, the startup that shows up on Sandhill Road raising a series A that already has a product and some distribution and some customers and ARR. And all of that is possible because you don't need $10,000,000 to do a single prototype.
Speaker 1:You can just build it. More true than ever in
Speaker 4:the age of AI.
Speaker 2:Ben, Scott, how do films actually get funded? I've been I've been I've been pitched like invest in my movie Yeah. Before. But given that I don't watch movies Mhmm. Didn't feel like it was really my strike zone.
Speaker 2:Mhmm. But how does it typically get structured? Like, if a film needs a million dollar budget, are the investors getting like an independent film is a million dollar budget.
Speaker 1:Yeah.
Speaker 2:How does equity work? Any any rough ideas?
Speaker 1:Typically, there's there there's a series of buyers
Speaker 2:distracting you guys.
Speaker 1:Very similar similar
Speaker 2:to We'll do it live.
Speaker 1:So so Scott's
Speaker 2:job is to
Speaker 1:change a screenwriter will sell an option to to make a movie to a producer, some sort of production team. They are the the the production company is oftentimes the investor. They buy it and then they might invest more money to bring on revisions, other script writers. Got Got it. They they might attach a they they might go pitch a do the deal to to bring on a star.
Speaker 1:And then from there, they go to another producer. And then the last the last time, the last moment is is the actual, like, marketing phase. And so those dollars are the biggest. So when you go and you get Universal or Disney to be the distributor, they're putting in a ton of money because they're gonna buy the billboards and like the Super Bowl ads. And that's really expensive.
Speaker 1:The movie has to be made at that point. But there's a series of sort of gates in the typical Hollywood fashion. And so when Markiplier says he spent $3,000,000, that means he spent $3,000,000 paying the
Speaker 2:with Obsession
Speaker 1:Yeah.
Speaker 2:I was seeing Obsession billboards everywhere around LA. Yeah. Like at least a million dollar campaign
Speaker 1:Yep.
Speaker 2:Right when the videos were coming out saying Obsession just turned 750 k into a $100,100,000,000 dollars. And so I was like, well
Speaker 1:So a lot times that might happen after the fact.
Speaker 2:Yeah. That's an after there's more money being spent to like, you know, it's like, hey, we have a hit now. Let's like.
Speaker 1:And then and then basically at every phase, there can be sort of an in kind investment where you get they call it like points on the back end, basically. But it's basically like, the the the most famous example of this is probably Robert Downey Junior in Iron Man. He he took a very low salary upfront, cash upfront, but he got a huge stake in the downstream cash from that series.
Speaker 2:You're saying he's goaded?
Speaker 1:He's goaded. There's also a a cool video here of the history of liminal spaces we should pull up because Backrooms, of course, is pulling from a lot of interesting videos. Let's play this. Can we zoom in this at all? There we go.
Speaker 1:Truman Show? Haven't seen it? I've seen it. It's great. I can't believe you've never seen Truman Show.
Speaker 1:It's so good.
Speaker 2:Should we get some liminal spaces here in the UltraDome?
Speaker 1:The the UltraDome is a little bit of a liminal space. We should make it more of a liminal space. There are some there are some podcasters that have liminal space type setups. Unbox Therapy is a famous one.
Speaker 4:You guys haven't seen it, but do you know,
Speaker 1:like, the tape on the wall?
Speaker 4:Do you know what that is?
Speaker 1:No. What's that?
Speaker 4:Okay. I mean, I guess, no spoilers, but
Speaker 1:Oh, okay.
Speaker 4:Yeah. We can put tape on the wall. Toys. People have seen it, we'll know what that
Speaker 1:Anyway, we can just vibe out Liminal's faces for the rest of the show. Let's see what Dan Shipper has to say. This will happen too
Speaker 2:Shipinator.
Speaker 1:With AI in about a decade. Studio executives and producers are racing to find movie material in corners of the Internet they once dismissed as some of the greatest threats to their business from YouTube to anime to video games. We talked about subway surfers. We're seeing the tide shift from these more conventional Hollywood narratives to something that feels more organic. Oh.
Speaker 1:All the simulators, maybe there will be Data Center Simulator the movie. Can you imagine? We got Data Center Simulator or what was the other one? Coconut Simulator? You gotta get Coconut Simulator in the movie.
Speaker 1:Realistic mode.
Speaker 2:Capybara Simulator,
Speaker 1:That's the just a nature documentary. Get get David Attenborough in there, you're done. Well, Bernie Sanders is talking about taking a stake in the AI labs. He says AI is built on humanity's collective knowledge. The wealth it generates must benefit humanity, not just Elon Musk, Sam Altman, or other AI oligarchs.
Speaker 1:That's why I'll be introducing the American AI Sovereign Wealth Fund Act to give the public a direct ownership stake, and he penned a full op ed in The New York Times. Senator Bernie Sanders is proposing a one time 50% tax directly in stock from the AI labs, which will be used to fund the American AI sovereign wealth fund. This would give the government voting rights and board seats and then directly pay a dividend to the American citizens. That's interesting because So you take 50%, like, would these companies actually produce a dividend? I mean, it takes many tech companies, like decades, to actually return cash to shareholders.
Speaker 1:They're known for
Speaker 2:fire selling Yeah. After the IPOs.
Speaker 1:He's just he's just like, this is the top.
Speaker 2:I didn't tell you how there was gonna be a dividend.
Speaker 1:Dividend in in sales.
Speaker 2:No. It's I mean, the the positioning I'm I'm trying to get into the New York into my New York Times account too. But the positioning, blank is built on humanity's collective knowledge. Yeah. What is not built on humanity's collective knowledge?
Speaker 1:Yeah. I was looking at a lot of
Speaker 2:TBPN is built on TBPN is built on Yeah. Humanity's collective knowledge. True. If humanity hadn't figured out wheels and roads and combustion engines.
Speaker 1:Hey, be careful what you say. The United States American citizens might own 50% of TBPN soon. You never know with this. You never know. It might
Speaker 2:You just never know.
Speaker 1:You're tempting fate here.
Speaker 2:But
Speaker 1:Bad example.
Speaker 2:But, yeah. The the the other thing is, you know, we we have
Speaker 1:Yeah. AI twenty twenty seven talks about this. I think that's it it it is it is right in line. He's clearly in the milieu of that crew and we'll see we'll see where all this goes, you know. I don't know.
Speaker 1:We'll see. It's a lot of people are
Speaker 2:Got it. Sort of framing
Speaker 1:it as
Speaker 2:a Rather have universal basic tokens.
Speaker 1:Maybe that would be the dividend. I don't know.
Speaker 2:It's interesting. So he's trying to ban data centers with the data center moratorium
Speaker 1:Yes.
Speaker 2:Act. Yes. But then he also wants half. Yeah. Those two things feel like like it feels like he's just kind of throwing stuff at the wall.
Speaker 1:Yeah. So Dean Ball pointed out this sort of like, you know, misalignment here. He says, I am so confused by the Bernie Sanders stance on AI. Is AI an existential risk that needs to be banned or a public good that should be redistributed? He wants to have it both ways, which is the tell that his flirtation with AI safety is mostly for show.
Speaker 1:This is about capital. Interesting. At the same time, I think that there is a world where if you do think AI is an existential risk, having a board seat, having control, having votes over that does enable especially if you have a board seat over every AI lab, you could actually do the thing where you say, we're all gonna slow down simultaneously. That's a lot easier to implement if you have 50% control over everything. Tyler, what do you think?
Speaker 1:Yeah.
Speaker 3:But you can just do like the AI, FDA.
Speaker 1:Yeah. Yeah.
Speaker 3:You you don't need like actual equity. Yeah. But I okay. This is my kind of contrarian take. Okay.
Speaker 3:But this seems like extremely bullish. Right? Because Bernie, you don't think of him as being this kind of classically capitalist person. Yeah. But implicitly saying, classically
Speaker 1:He's saying that the stock's underrated?
Speaker 3:Yeah. Undervalued? These are gonna be the biggest
Speaker 1:Yeah. Pretty big deal. Because of all the stocks we're going
Speaker 3:to And so big that this is gonna be, like, disruptive to the economy. Sure. Like, this seems like he's extremely AGI filled.
Speaker 1:It seems like it.
Speaker 3:Yeah. Yeah. Seems like he's he's basically saying, like, data center stuff is like probably not gonna work out. I'm not gonna be able to ban these things.
Speaker 2:Yeah. Mark in the chat says, mister Sanders is your crazy uncle that your mom and dad use as a babysitter when there are no other options.
Speaker 1:Interesting.
Speaker 2:You think that Bernie has been getting his AI takes from Jason Oppenland?
Speaker 1:I I I'm I'm not going there yet. We'll get there. But first off, I mean, the big news today, Anthropic is confidentially filed for IPO. They should be out. SpaceX is going public.
Speaker 1:Google's public. Open AI. There's rumors of of, of an IPO
Speaker 2:And that's what that's what gets really crazy here. Right? Because is is Google Google's a leading lab. For sure. Does Bernie Bernie want
Speaker 1:But then yeah. But then is is Salesforce an AI company?
Speaker 2:Is Meta?
Speaker 1:Is Meta? Yeah. Meta is
Speaker 2:mean, Mark Mark would
Speaker 1:be they are.
Speaker 2:We were talking about this earlier. Mark would quickly be like, me? Trying to build personal super intelligence.
Speaker 1:I'm not an AI company. Not an AI lab. Company.
Speaker 2:I'm an AI lab. I'm just doing some experiments.
Speaker 1:I got these
Speaker 2:GPUs to to 99% better videos.
Speaker 1:We're creating is just recommendations.
Speaker 3:He's gonna take half of all birds.
Speaker 1:Oh, no. We talked about the dueling narrative. So Anthropic is IPO ing or or they have they have confidentially submitted a draft s one registration statement to the Securities and Exchange Commission. Pending completion of SEC review, this gives us the option to pursue an initial public offering. There's a race between, SpaceX, OpenAI, Anthropic to get out, hoover up those public market dollars.
Speaker 1:Meanwhile, it was so over for the all the SaaS companies, but, the SaaSpocalypse might be canceled. That's what we're seeing. A lot of companies are up. Some of them are up on Anthropic holdings, but others are just up on continued traction in their
Speaker 2:Mark's gotta be feeling good. He invested 50,000,000 Yeah. Into Anthropic, I think, in 2023 or 2024.
Speaker 1:Cheeky 100 x?
Speaker 2:Very cheeky. Very cheeky.
Speaker 1:I think he's
Speaker 2:He's feeling good. He's now gonna deploy €2,000,000,000
Speaker 1:Okay.
Speaker 2:Into France. Love it. Our strong team He has of 1,800 employees in France. Wow. More committed than ever to driving an event innovation and agentic growth across the country.
Speaker 2:And I love this new meta. I think this picture is Mhmm. This is the new this is the new Vibrio meta. Okay. So anytime you do a business transaction One farm.
Speaker 2:Snap a selfie Yeah. With your business partner, Post it. You don't need to make a video with a bunch of, you know, sort of videos throughout history of of, you know, hypersonic jets and rockets and things like that. Just take a selfie. Post it.
Speaker 2:You're good to go. Much more efficient.
Speaker 1:Okay.
Speaker 2:So And I'm dropping After this partnership, I just gotta say, I'm We're cancelling my personal beef with France.
Speaker 1:Oh, that's
Speaker 2:This is a fantastic progress.
Speaker 1:Benioff won you over.
Speaker 2:And, yeah. If they have Benioff's full faith, they have my full faith. And already, this €2,000,000,000, I think, is significantly more than Yes. Their their their the previous investment that they announced
Speaker 1:Yes.
Speaker 2:That created the original beef. Yeah. Yeah. So
Speaker 1:Beef squash. It's good to see. Good to see. Well, Benioff gave some more context on Salesforce's progress. The fiscal year twenty seven q one results, record revenue 11,130,000,000, up 13% year over year.
Speaker 1:This is a very mature company, still growing very quickly. Very good news. Operating cash flow of 6,700,000,000. Agent Force crossed 1,000,000,000 ARR or yeah, ARR. Combined with Data three sixty and Informatica now at 3,400,000,000
Speaker 5:in AI data ARR.
Speaker 1:We're not just talking about the here.
Speaker 5:We're not just talking about the agentic future. We're delivering it. The number one agentic CRM powering the shift to agentic enterprises at scale. The momentum is real. The future is unstoppable.
Speaker 5:Fire emoji.
Speaker 1:Anyway, let's go through what Brandi Grahl summarized from Jensen Huang's Computex twenty twenty six keynote. NVIDIA CEO made several announcements during his keynote speech at Computex, Taiwan's annual technology expo. I guess it's their CES, but more enterprise focused even. He introduced the RTX, the NVIDIA RTX Spark Superchip, an ARM based chip for PCs designed to process AI workloads locally. He announced that the enterprise of Aruba's CPU is now in full production, and he announced several foundation models, a world model, an open weight flagship AI model.
Speaker 1:That seems like big news, open weight flagship AI model. We heard that he was investing billions of dollars in that, but I I think everyone's very interested to see where it benchmarks against the five fives, the what what what is I'm talking about four eight now and and the three fives from Google. Like, the closed source models have been on the frontier And there's been the chart showing that the open source models from China have been sort of decelerating or they're just they're they're growing more linearly than the than the American closed source model. So is there a gap there? Where does NVIDIA fit in with their open weight model?
Speaker 1:That's an interesting question. And he also released a model specifically designed for humanoid robots. A lot of the attention from the keynote came is going to the RTX Spark, which is being viewed as Microsoft's attempt to create its own Apple Silicon Moment, and Microsoft coordinated its announcements of its new Surface Laptop Ultra, which will be optimized for RTX Spark and will be released this fall. Well, we can close with Will Menidas. He says, I don't think any of you understand what is about to happen in the market.
Speaker 1:We are about to live through the craziest five year run-in Techno Capital history. God help us all. I pray that when the judgment comes, he can see all that we did to ensure efficient price discovery. He's bullish. He's
Speaker 2:extremely bullish recently.
Speaker 1:He's on
Speaker 2:Rich, I don't know if that's bullish or
Speaker 1:Him being bullish? Bearish. If he's bearish, he should be bullish. Be bullish when other people are bearish. Be fearful when other people are greedy.
Speaker 2:That's right.
Speaker 1:Who knows? Do your own research. Make your own decisions. Adam Files also hired a sketch artist for a party. He said, I'm so tired of how many experiences of my life have been now been taken over by phones and content.
Speaker 1:So for my birthday party this year, I told my friends to leave their phones at home and had a sketch artist capture the night instead. I thought this was a very, very cool, wildly different and like all of these can be printed or framed. I mean, I guess they're they're physical pieces of art, they could also be replicated for the party goers. Very, very cool analog. This is why vinyl records are at an all time high.
Speaker 1:There's demand for both the content barbell
Speaker 2:This is very cool.
Speaker 1:The Slop and the artisanal handcrafted sketch artist from Adam Faze. Very, very cool. And we will see you It's
Speaker 2:been an honor. Tomorrow.
Speaker 1:Flashbang.