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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.
Happy Agents. Saint Patrick's Day. We are not drinking Guinness
Speaker 2:No.
Speaker 1:Currently. But we hope that you are.
Speaker 2:Yeah. Enjoy it. It seems like Tyler is in the Saint Patrick's Day mood and is wearing a fantastic Saint Patrick's
Speaker 1:Day hat. What do think of my hat?
Speaker 2:How did you wind up here?
Speaker 3:That's a nice hat.
Speaker 2:Where did that come from? Did we just have
Speaker 1:that I had this.
Speaker 2:Oh, you just Oh, you had it.
Speaker 1:Yeah. You had it handy.
Speaker 2:You just daily you you just daily drive that. Yeah. Okay. Yeah. It wasn't in your car?
Speaker 1:Or Yeah. You wore it to the gym this morning.
Speaker 2:Okay. In the news, the Wall Street Journal has an article about this is a scoop from Berber Gin. We didn't have to break down the paywall, but Berber Gin has a scoop. It says, OpenAI's Fiji Simo told staff last week that the company could not afford to be distracted by side quests, main quest only. Main quest only.
Speaker 2:What is the main quest? Probably just scaling compute, but, we'll get into that. And then there's a whole bunch of takes back and forth, said the company execs are are actively looking at areas to deprioritize. Of course, throughout last year, OpenAI launched a ton of different, initiatives across consumer hardware. And I think a lot of people were starting to say, okay, do you want to be fighting a battle on all these different fronts?
Speaker 2:Or do you want to just really nail consumer, nail enterprise? And now that is what they are signaling internally. So from the Wall Street Journal article, OpenAI's top executives are finalizing plans for a major strategy shift to refocus the company around coding and business users, recognizing that a do everything all at once strategy has put them on the defensive. VG CMO, OpenAI CEO of applications, previewed the changes to employees at an all hands meeting, telling them that top leaders, including Sam Altman and Mark Chen, were actively looking at where which areas to deprioritize. They expect to notify staff about the changes in the coming weeks.
Speaker 2:We cannot miss this moment because we are distracted by side quests. Side quest is the key term there. We really have to nail productivity in general and particularly productivity on the business front. Last year, OpenAI announced an array of new products, including the video generator Sora, a web browser called Atlas, a new hardware device, and e commerce features for ChatGPT. Some of those are wildly different timelines for these things.
Speaker 1:Yeah. And remember, during this time Mhmm. That's when I started talking about viewing OpenAI's activities like they were a hyperscaler. Yeah. When Google launches a new product Yeah.
Speaker 1:You don't have to assume that, hey, it's gonna work every single time. Mhmm. And in fact, it's the exact opposite. Yep. A lot of these experiments don't end up going anywhere.
Speaker 1:It's fine. Like, again, you have this, like, massively scaling, you know, core business. Yep. You start to say, hey, let's experiment in a bunch of these different areas. Yeah.
Speaker 1:Some of them are gonna work. Some aren't. It's okay. But then ultimately, that creates a scenario where you're sort of like opening up maybe too many fronts, right, to the competition. Right?
Speaker 1:You're competing with Meta and Social, with Sora. You're competing with with Google in some ways. You're competing with even, like, the Microsofts of the world in other ways. And ultimately, this just feels like, hey, let's, narrow the fronts. And I think a lot of people expected something like this
Speaker 2:Yeah.
Speaker 1:For the last few months.
Speaker 2:OTP in the chat is surfacing a very interesting old take from Ben Thompson about OpenAI should not be in the API business. And now, based on the way things look, it it it originally, that was like, oh, wait. Well, maybe Microsoft will be able to handle and scale the API demand. But API demand has been so huge, and it's allowed Anthropic to develop such a solid business there that it's undeniable that OpenAI should also be in the API business, especially Yeah.
Speaker 1:The other side of that is like they clearly need to be in the harness business too, which is why Codex is Yeah.
Speaker 2:Yeah. And so the hyperscaler, like your take of think about OpenAI as the new hyperscaler, I think the takes have aged extremely well, especially with recent interviews with Dylan Patel and Dor Keshe. Jensen just went on Strutecari. There's a whole bunch of new data points that show how compute constrained we are, how tricky it will be, how chips will be the key bottleneck. There's that interesting story that Tyler was recounting from Dylan Patel about how the TPU was developed by the TPU team.
Speaker 2:DeepMind didn't realize how important it was gonna be, how compute constrained they were gonna be, so the TPU went and sold it to Anthropic. And then DeepMind went back to them and was like, wait. Wait. Wait. Wait.
Speaker 2:We want those chips. Like, we need the chips. It's particularly about the ability to marshal compute at hyper scale. I I was interested to look at, like, the history of side quests among mag seven companies, among trillion dollar tech companies, because it's all over the place. And so it's very hard to paint with a broad brush.
Speaker 2:I think right now, there's a huge narrative around, like, OpenAI was doing way too many side quests. They need to do zero side quests. And the reality is probably, like, you know, we've seen this with Riley Walls joining the labs team. Like, there will be small projects. There will be acquisitions.
Speaker 2:There will be a continuum of bets. There's just a level of refocusing that's going on right now
Speaker 1:Yep.
Speaker 2:And and reorganization. And this has happened at many, many Yeah.
Speaker 1:And I think that's that with the OpenAI Labs team is you have a a really small group of people that are focused on
Speaker 2:Mhmm.
Speaker 1:Creating or being quick to new product Yeah. Like approaches. Yeah. But that can be, again, like a two pizza team. Yep.
Speaker 1:And that type of experimentation is gonna make more sense if the rest of the company needs needs to refocus on Yeah. On enterprise and the core business.
Speaker 2:History of side quests and tech. Can we paint with a broad broad brush here? You know, spoiler alert. I think the answer is no. But there are some fascinating stories.
Speaker 2:So Google has a balloon Internet play. It's a serious company called Project Loon, where they they inflate balloons that go into the stratosphere, I believe. They go high up and then they deliver Internet, sort of competitive Starlink. They also have
Speaker 1:fiber they have the fiber play too.
Speaker 2:Fiber play. Oh, yeah. They just sold That's not even close to the weirdest thing. The weirdest Google side project that I found is they make a contact lens that will tell you how drunk you are. I'm not kidding about this.
Speaker 2:Google, they have a project. It it it does more than that. It's supposed to do biometrics, and it can do a lot of different things. But one of the things that it can measure it can measure glucose in your tears. It can measure any sort of biomarker that's in your tears, which apparently is a rich source of data.
Speaker 2:But one of them is blood alcohol level. So you can put in this contact lens from Google, and it will tell you how
Speaker 1:drunk Jarvis.
Speaker 2:Am I drunk?
Speaker 1:Am I good? Am I good?
Speaker 2:Am I good to drive?
Speaker 1:You're absolutely not.
Speaker 2:He's like, you sir, you should take a Waymo tonight. Would you like me to connect you? See, this is all part of the plan. They also briefly owned Boston Dynamics, but most importantly, they bought DeepMind, was completely seen as like this wild card side project. How does that fit in?
Speaker 2:You know, it's a bunch of researchers, and then it became like the the most critical thing
Speaker 3:in
Speaker 1:Amazon has taken tons of shots at drone related delivery Yep. And home security stuff. They also own Twitch, but they never really linked the site to live shopping and closed that loop.
Speaker 2:Have you thought that that's weird?
Speaker 1:And Jassy doesn't do earnings calls
Speaker 2:on Twitch. Of course, Apple. Tried to build a car, then pulled out. Who knows where the Apple Vision Pro goes? Although, of course, I hope it continues.
Speaker 2:I'm hoping for another another Apple Vision Pro. Apple Vision Air, just make it lighter, same screen. That's the trick. It like a thousand bucks, I think it'll sell. And they have a bunch of health moon shots.
Speaker 2:They've been working on non invasive glucose monitoring, which is there's some book about it called like the the white whale of biotech or something. It's something that people have been working on for so long and they've never been able to crack The best thing I think they have is that you can get a continuous glucose monitor. Thank you for the Ws in the chat, by the way. There's a lot of Ws in the chat. You can get a continuous glucose monitor that is invasive, meaning it is pricking you.
Speaker 2:It is measuring your blood and then calculating the amount of glucose in that. And you wirelessly connect that now to your Apple Watch, but they can't do it in the Apple Watch. There's always been the question about, could you just shine a light through your skin and detect the blood the glucose in the blood? Very, very difficult to do. Lots of money spent with little to show for it, at least so far.
Speaker 2:Meta is probably the most, you know, egregious They do side quests.
Speaker 1:Side quests. They do full quests.
Speaker 2:They they create side quests in in VR. There's actually one of the popular games. It's all about doing side quests. Okay. And, yeah, I mean, they bought Oculus.
Speaker 2:They bought a bunch of VR studios. They rolled everything up. They renamed the company, spent tens of billions of dollars on what is starting to feel like less of a side quest, but still is is so early. You know, the meta Ray bans are like a success, but to the tune of millions of units, not, you know, billions of units or anything like that or hundreds of millions of units. I think the iPhone has an installed base over a billion now, and, the ramp from here to there on Meta Ray Bans is gonna be long.
Speaker 2:Tesla launched a premium tequila in a lightning bolt shaped bottle. So, you know, it comes for all different next seven companies. But truly, like, side quests come in all shapes and sizes. Some are just good for morale. Like, it's just fun.
Speaker 2:We do we we do side quests here all day long. TBPN simulator, that's a side quest. We what what what was the other simulator? Jeremy Gaffan simulator, that was a side quest. You know, they're just fun.
Speaker 2:Some of them are good for marketing, good for attention, good for fun. Some are complete dumpster fires where you just pour money in, and just sucks all resources and you get nothing out. And then some reshape businesses entirely. DeepMind's a great example. And and there's certainly others in in the Mag seven that have really, really changed the business.
Speaker 1:It seems like the entire Boring Company is a side quest.
Speaker 2:Yeah. It's technically a separate company, but Elon's, yeah, king of king of side quests. Although, I
Speaker 1:think
Speaker 2:Yeah.
Speaker 1:I mean, it just feels like it feels like the company that gets the least amount of attention that's not, like, on the critical path for
Speaker 2:Yeah.
Speaker 1:Many of the other Totally. Projects. Totally.
Speaker 2:Some of OpenAI's teams come from very small teams with relatively tiny compute budgets, but they get a lot of attention sometimes because of the particular product category. So SOAR is a great example where small team, not huge resource investment, probably a lot of inference and training cost. But relative to Codecs 5.4, SPAR, I I I don't know. I don't know actually know, like, how we're looking on the order of magnitude there.
Speaker 1:Yeah. Think I think a big yeah, big part
Speaker 2:of Superviral. It is, like
Speaker 1:Right? Yeah. And what what percentage of the team Yeah. The overall team's energy is going towards a specific product. Yeah.
Speaker 2:Yeah. So the the idea of experimenting quickly and then consolidating efforts even faster makes a ton of sense. Nana Banana was a big deal for Gemini. Bringing image, video, and audio generation together in a single ChatGePity flow is clearly the next step. And so some of this is not it's probably not going to take the form of, like, stop doing the side quest.
Speaker 2:It's like, let's fold that into the main quest because clearly, the interaction pattern of ChatGPT is is where people want to go. And so once we've done the experiment, it works. Put it all together. Dylan Patel and Dorcache said the TAM for GPT 5.4 was north of $100,000,000,000 which is crazy for a bunch of reasons. I mean, is a huge market that was created in just a few years.
Speaker 2:The enterprise opportunity in general is crystal clear for anyone involved. At the same time, you still do need to experiment to make sure you are early to create the next breakout product experience. And so with that backdrop, OpenAI Labs and being more efficient with the shots on goal makes a lot of sense. I still think that the overall narrative around AI, just in broadly this year, will be about the main quest, which I see as compute scaling. Raise the money, do the deals, grow the capacity.
Speaker 2:I was thinking back to Travis on the show saying, If you're doing something and it's easy, it's not valuable. The key is, If money matters, which I think we say we would say it does, especially in certain categories, he was probably thinking of ride sharing where there was a capital war and AI compute where there's also a capital war. You need to be the best in the world at
Speaker 1:it. Yeah. Yeah. And I think I think overall, there's real competition now. Yeah.
Speaker 1:It's intense. Right? You have you have OpenAI and Thropic
Speaker 2:Yeah.
Speaker 1:At the frontier pushing very, hard. But the other side of this for OpenAI is like, yes, there was a ton of stuff that was announced last year. There was there was hardware, Sora, etcetera. But Sam was running around doing all these different mega deals for the compute side Yeah. That now serve the main quest.
Speaker 1:And so the positioning is actually great.
Speaker 2:Google Capital bloke, the longtime Google bull, says, so Anthropic and OpenAI are going to just give this consumer market to Google. And I don't know how how I mean, yes. They're like like, OpenAI reportedly planning to shift the strategy to refocus around business users and vibe coders. There's a lot of stuff going on there. Listening to some of the data around the retention curve of the various products, like, I don't think that they're giving up on consumer at all.
Speaker 2:That seems like sort of an odd read.
Speaker 1:Yeah. And and we can pull up this chart that Sam showed Yeah. Of codex usage. This is like the the again, this is like what I think is informing the battle with Anthropic as well as like this chart is gonna inform the strategy shift, is like, hey, we can run. We can take revenue into the hundreds of billions of dollars with the current products that we have.
Speaker 1:Let's focus on them and make the best possible products. In other news, OpenAI is forming a joint venture with TPG, Advent International, Bain Capital, and Brookfield Asset Management.
Speaker 2:This is great news.
Speaker 1:To form a joint venture with distributed enterprise products across the firm's portfolio companies and beyond the proposed deals
Speaker 2:AI is coming Fogo Bain Capital owns Fogo de de the Brazilian steakhouse.
Speaker 1:We're gonna now they can take Apple Pay.
Speaker 2:Oh, yeah. We got cooked on that. Maybe they deliberately don't. I wonder if Apple Pay is expensive for them, and this is actually a cost consideration. Said, this news came out a little bit earlier than we planned.
Speaker 2:We're excited to be building a deployment arm, and we'll share more details soon. Companies have a ton of urgency to deploy AI in their organizations, and we're sprinting to meet that demand. More than 1,000,000 businesses run on OpenAI products. Codex is now at 2,000,000 weekly active users, up nearly four x since the start of the year. API usage jumped 20% during the week after GPT 5.4 Watch launched in Frontier, which launched last month to help enterprises build, deploy, and manage AI coworkers that can do real work, has way more demand than we can handle.
Speaker 2:That's why we launched Frontier Alliances so we leverage our ecosystem of partners and scale and to scale, and that is also why we're launching a dedicated deployment arm tasked with embedding forward deployed engineers deeply inside enterprises. This project has been in the works with our investors and alliance partners since last December, and we are grateful for them and their partnership. We're still early, but the speed of adoption is a clear signal of where this is headed. We're excited to not just be building these technologies, but also building many ways for companies to deploy them and get impact. There was a big there was a big talk for a long time about, like, the the next gen private equity firm will buy businesses and, like, deploy AI inside them.
Speaker 2:And this feels like, well, maybe that works at the mid market private equity level, but you don't necessarily need a new AI native private equity firm because Bain Capital Yeah.
Speaker 1:It's what I've always said. Like, traditional private equity is not gonna just be like, oh, we'll we'll figure out AI in like Mhmm. 2030. It's not really on a road map right now. They're working as hard as they can to implement it.
Speaker 1:Question is like, will will traditional private equity be able to basically like roll out and unlock the value Mhmm. Of AI better than some of these, like, AI native, more like venture oriented roll ups.
Speaker 2:What is the pitch for a mini or a nano model?
Speaker 3:Someone ran some emails and the mini models are like equivalent to GPT five when that first came
Speaker 2:out. Okay.
Speaker 3:But it's just way cheaper. Right? So if you're like, sensitive, if you're running a ton a ton of queries Yeah. But they don't need to be like the max intelligence, then you just use this.
Speaker 2:So cheaper, but also faster?
Speaker 3:Yes. Probably.
Speaker 2:Yes. And potentially runs on older hardware?
Speaker 3:I think that's unclear.
Speaker 2:This is bullish for our vintage Neo Cloud. The oldest GPUs
Speaker 1:Yeah. Was a great idea yesterday. Yeah.
Speaker 2:Gonna run this on ten eighty Ti's.
Speaker 3:Yeah. I mean, it's like doesn't I like, how small the model is doesn't actually like matter on the
Speaker 1:Imagine running your vintage Neo Cloud with with that wood fired hearth Yeah. Powering it all.
Speaker 2:Yeah. I mean, you have to imagine that what's after Blackwell? What's the one that announced today? Vera Rubin? Rubin.
Speaker 2:Rubin. Rubin. Like, you have to imagine that there will be models that only run on Rubin and need to be sort of re architected to run on Hopper, I would imagine. Do you think
Speaker 3:Sure. I mean, I I think there there's like small performance boost that you can get.
Speaker 2:Or it might just be slower.
Speaker 3:But but you can always you can run any model on like any hardware. It's just like it could be like way way because
Speaker 2:you have Way, way slower. The memory is on a fleet of a one hundreds where you could just be on, like, like, a smaller rack of Rubens. Interesting. Did Kalshi launch?
Speaker 1:Kalshi launched bracket challenge, $1,000,000,000 for a perfect March Madness bracket.
Speaker 2:You can win $1,000,000,000 for entering this competition?
Speaker 1:I haven't read the fine print, but it seemed it is positioned that way. Vinny says it would be hilarious if Citadel built out a team to attempt to impair their competitors' SIG through this. So SIG Parametrics Okay. From Susquehanna Yeah. Yeah.
Speaker 1:Is is basically like the financial backer for this promotion. So if Citadel can figure this out, they could leave their competitor with a $1,000,000,000 bill. Yes. Obviously, trying to trying to nail the perfect bracket Yes. Is functionally impossible.
Speaker 1:But
Speaker 2:So so there are nine quintillion possible brackets. So the odds of a perfect bracket are one in nine quintillion. And I believe that they are capping
Speaker 1:I like
Speaker 2:my odds. I like my And I believe that they are capping entries at 10,000,000 entries. So if you math that out and then you take some insurance out, like, you should be able to, you know, hedge hedge hedge out any of the risk. If you are good and you don't suffer from any skill issues, you can basically with strong basketball knowledge, if you have ball knowledge, apparently, you can get the odds down to, like, one in ten billion. And at that, you know, not from nine quintillion to 10,000,000,000
Speaker 3:that we're talking. If you have nine quintillion, you can sort them by how likely they are. Take the top 10,000,000. That's, you know maybe there's some kind of power law thing here where we actually Yes. You're getting your odds are close.
Speaker 2:You're getting close. But I think I think if there's 10,000,000 if there's 10,000,000 if it like, assume that there's 10,000,000,000 reasonable brackets at and out of the nine quintillion, So you're discarding, like, all the craziest upsets to get to that 10,000,000,000. You already ranked it and narrowed it down by, like, what, six orders of magnitude or something. And then you're submitting the top 10,000,000 of those 10,000,000,000, like, your odds of winning are still one in a thousand.
Speaker 3:You can make it a thousand accounts.
Speaker 2:And that's what no. No. No. No. I think that they are capping the entire campaign to 10 the first 10,000,000 entries.
Speaker 2:So you have to be on Kalshi and you have
Speaker 1:already submitted. The SEC prepares proposal to eliminate quarterly reporting if you liked earnings
Speaker 2:was thinking like for us. We like earnings days, but it's not like our whole shtick. So I think we'll be okay. We will continue soldiering on.
Speaker 1:Good Alexander says, finally, less transparency around financial results. Yeah. I don't I don't know I don't know if this is gonna be enough to to make it easier to be a public company. It's certainly a burden. But the kind of shareholder lawsuit risk and all that other stuff feels like a much bigger burden.
Speaker 1:What this is you're just gonna do is create more volatility. Right? If you're only getting Oh, sure. Updates, twice a year. You can just see these massive swings because it's like, hey, we haven't heard from this management team in a formal capacity for The six business could have changed wildly, growth rates fluctuating, etcetera.
Speaker 1:And so, again, if you if you if you love volatility, you're probably gonna love this.
Speaker 2:So it's good for the VIX. That's bullish for VIX investors out there. It there is a world where I mean, the the typical, like, public versus private debate is that when you're private, can think in multiple years, depending on who your investors are, maybe think in decades even. Whereas, when you're in the public markets, you need to think quarters. And so advancing that from quarterly to six months and you start putting management teams in, okay, what can we deliver that will show up in six months as opposed to what can we deliver that shows up in three months, that's twice as long.
Speaker 2:It feels like you could wind up with better run companies doing more ambitious things. I don't know. There is a bull
Speaker 1:Yeah. The no. I mean, the other side of it is you just get more complacency. There's less of that. There's less of that.
Speaker 1:You're you're not like on the daily the daily march. You know, you finish earnings, you're like, okay. Ninety days. We gotta do this again. Like, there's no days off Yeah.
Speaker 1:Kind of thing.
Speaker 2:So are you are you an advocate for monthly report reporting?
Speaker 1:Daily. Daily earnings calls. Potentially hourly.
Speaker 2:Just put I mean, this is the this is the crypto folks. Like, put it on the blockchain. I wanna be able to see in real time the revenues of this asset stream and how things are moving around. I want full transparency at all times as an investor. I don't know.
Speaker 1:NVIDIA. NVIDIA. Announcing NVIDIA DLSS five and AI powered breakthrough in visual fidelity for games coming this fall. Video games are gonna get more realistic. Prepare.
Speaker 1:Over the next couple decades, this
Speaker 2:is gonna be this is it's entirely possible this happens. Continue.
Speaker 1:Let's It's pull up the funny because when I when I see You pull up the video big
Speaker 2:I wanna see it big.
Speaker 1:When I see the video
Speaker 2:Yeah.
Speaker 1:I My my thought was weren't video games already this realistic? But I haven't played video games besides Tetris on the thematic
Speaker 2:They oh, yeah. Long time. So let's play GeForce RTX DLSS five. DLSS, of course, stands for deep learning super shading, something like that. DLSS.
Speaker 2:It uses deep learning. It's used AI for a long time. The whole pitch for DLSS sampling. Super sampling has has always been go from a seven twenty p render to four k. Up res.
Speaker 2:Just interpolate the pixels. This is different. You can see that the it's not just becoming higher resolution. It is becoming Gen AI. Like, there is a world where you render that at higher res.
Speaker 2:The lighting is changing. The shading is changing. The makeup, the structure of that person's face is changing, but it's still driven by the underlie why are you posting the bubbles? Because I'm ranting. I wanna see You're not
Speaker 1:LSS five do this.
Speaker 2:Oh, yeah? But but this is what we were talking about yesterday. We were like, what will it take to get TBPN simulator photo real? I think we should try and pipe it through DLS s five. Although, who knows what this is gonna run on because NVIDIA's not shipping new graphics cards to gamers or something like that.
Speaker 2:They're delaying the next the next gaming graphics card. People are upset. There's a community note that has yet to be accepted, but the community notes are not happy. Like, one of the community notes is just AI slop. And it's like, yeah.
Speaker 2:Like, that's in the name.
Speaker 1:It's deep learning.
Speaker 2:Like, what do you think DL stands for? And also, why are we on DLSS five? Oh, because this is like a decade old technology. I don't know. People are people are very upset.
Speaker 2:One of the community on the environment. The majority of gamers
Speaker 1:Is did not ask for this. Is that the Are those the most photorealistic video games that we have today? And then they're showing how they're even getting more realistic? No. No.
Speaker 1:Yeah. Because they don't look they don't look they look like games that are Yeah. Like kind of like animated characters that aren't trying to be photoreal.
Speaker 2:So there's a range of games there that some of them have pretty outdated engines, pretty outdate outdated rendering pipelines. Some of them are on the latest and greatest and look very high fidelity. There's also a whole bunch of trade offs in game development around the scale of what you're building and how many, you know, poker chips you wanna put into great graphics. If you're making some moody first person shooter that's gonna be dark and and there's gonna be lots of, you know, like, blood splattering and aliens and stuff, like, you could potentially make it ultra photoreal. But if you're trying to build, like, something like Minecraft, it's, like, this massive world that's interactive with a ton of different people.
Speaker 2:Like, by narrowing down the scope, like, the beauty of Minecraft was that the whole thing's voxel based, which is like these little blocks. And so Right. The so the computer can store, like, an entire world very efficiently. Because all it needs to say is just there's a cube there, and it's green. There's a cube there, and it's black.
Speaker 2:There's a cube there, and it's gray. What do you think?
Speaker 3:I was gonna say Minecraft is a good example of of what this can improve. Right? Yes. Go to
Speaker 1:the next post.
Speaker 2:Oh, yes. You can pull that one up. Yes. This is
Speaker 3:what Minecraft could look
Speaker 2:like. This is what Minecraft could look like. There are there are drawbacks, obviously, because you're driving the the style transfer from the particular images, from the shape. You're not reconstructing the entire image. You're just applying this, like, rerendering on top of the underlying structure.
Speaker 2:And so you can get really weird outcomes like this.
Speaker 1:Take us to space, Jensen.
Speaker 2:Let's listen to Jensen talking about data centers in space.
Speaker 1:Of Nick.
Speaker 4:I'll spend very little time on this this time. However, we're going to space. We've already been out in space. Thor is radiation approved, and we're in satellites.
Speaker 2:You do
Speaker 4:imaging from satellites in the future. We'll also build data centers in space. Obviously, complicated to do so. We're working with our partners on a new computer called Vera Rubin Space one, and it's gonna go out to space and start data centers out out in space. Now, of course, in space, there's no conduction.
Speaker 4:There's no convection. There's just radiation. And so we have to figure out how to cool these systems out in space. But we've got lots of great I'll spend very little time
Speaker 2:on this. Great engineers working on it. It was very funny listening to Dylan Patel talk about space data centers and saying that, like, yeah, even if you solve everything, like, it's still hard to make chips. It's just like it still comes back down to the chip bottleneck above above all else.
Speaker 3:Yeah. I mean, is why you see Elon doing the TeraFab thing. Right?
Speaker 2:Yeah. Yeah. I I really wanna know what his plan is for that because has he put in an order for a tool or is he gonna do Terra ASML? Like like because there's like the supply chain is what? 10,000 companies?
Speaker 3:10,000 companies? I mean, historically, they've they've done they've gone super, super early in the supply chain. Right? They've done, like, mining stuff and
Speaker 2:Yeah. Yeah. Yeah. Speaking of Dylan Patel, semi analysis was featured at NVIDIA GTC. The inference king has been crowned.
Speaker 2:NVIDIA won a massive belt. And it looks like Jensen's holding it up. He is in fact standing in front of a LED wall or projector. But a beautiful thing to see the semi analysis logo.
Speaker 1:It's all WWE. The entire world It's is WWE.
Speaker 2:NVIDIA Extreme co design revolutionized token cost. The GB NVL 72 is the inference king with 50x higher performance per watt on Inference X by semi analysis. 35x lower cost. Very, very exciting. And congrats to Jensen for becoming the Inference King and winning the Inference Max Award or Inference X as it's now known.
Speaker 2:Jensen is also confirming what we see in our GPU availability data. There is an epic scramble for compute b 200, basically unavailable. Availability for g h, Grace Hopper. 200, h 200, and a 100 also collapsing. Low availability means high demand.
Speaker 2:And people were people were kinda going back joking about, like, he said like 1,000,000,000,000 of demand or something over some period of time. And and and people were like, oh, so he's guiding down. And it's like, I guess that's where we're
Speaker 1:at. Yeah. It's hard when you're doing when you're doing cumulative Well revenue.
Speaker 2:Let's move over to a much smaller deal for Netflix and Warner Brothers and the final deal, which went to Paramount, of course. And David Zaslav is in The Wall Street Journal. David Zaslav deal could deal pay could top $800,000,000 after last minute tax benefit. So Warner Brothers chief executive, David Zaslav, could collect more than $800,000,000 in severance and other payments after rival Paramount acquires the company. The sum of cash includes the sum includes cash and payments for options and restricted stock holdings as well as a newly adopted tax reimbursement for Zaslow in a securities disclosure filed late Monday.
Speaker 2:The total doesn't include the more than $20,000,000 he's likely to get for shares he owns outright, So he's been he's been investing as well. About 504,000,000 is due to Zaslav if the deal closes, the company said, while 47,000,000 would be triggered if he is fired or leaves under certain circumstances within a year of the close. 116,000,000 in equity has already vested. Some 335,000,000 would only kick in if other payments trigger a 20% federal excise tax on golden parachute severance payments he receives. The ultimate value of the payout is based on tax code rules that are expected to cause it to significantly decline with the passage of time, the company said in a filing.
Speaker 2:Without the tax payment, the total would be about 667,000,000. Companies typically try to keep severance at or below three times salary and target annual bonus to avoid or minimize the tax, and investors often criticize companies for reimbursing or grossing up executives for the tax. The company said Zaslav wouldn't have to pay the excise tax if the deal closes in 2027, which would save the company costs of the tax gross up.
Speaker 1:Yeah. A lot of people are are absolutely earn that. Yeah. Value. And the reason that I think it is warranted from a business standpoint is when we were sitting here last year talking with someone who won't be named in the in the media space Yeah.
Speaker 1:Somebody who has done, he was sitting here telling us at this very table that he didn't think there would be any bidding process
Speaker 2:Yeah.
Speaker 1:At all. Yeah. And it was just gonna land with the Ellisons Yeah. For a pretty predictable price. Yeah.
Speaker 1:And Zaslav did his job Mhmm. As CEO to get the best possible price for shareholders. And it's remarkable. And that is why, you know, he was able to have outsized impact. Yep.
Speaker 1:He's getting he's getting outsized compensation. Yep. He increased the enterprise value through his deal making by tens of billions of dollars. And he's getting a significant, but I think warranted payment. And if you if you don't like this, then you probably don't like the game of business very much either.
Speaker 2:Well, thank you for tuning in to TBPN today. We will see you tomorrow.
Speaker 1:Go have
Speaker 2:The best day. Maybe have the stars on Apple Podcasts and Spotify.
Speaker 1:It has been an honor.
Speaker 2:Why don't you throw that flash bang? Throwing flash bang. We'll see you tomorrow. See you tomorrow. Goodbye.