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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.
In case you were wondering how to shake hands with your with your friend or with your enemy, it works. It's the same. It's the same process. You grab the hand with great force.
Speaker 2:Yes. And And lift up.
Speaker 1:Underrated, you can establish dominance. You can handshake mom clearly.
Speaker 2:Huge missed opportunity for Sam and Dario not to
Speaker 1:To crush each other's hands to the point where the other one is bleeding and crying. And that would only really set the tone.
Speaker 2:They have to rely on voice transcription.
Speaker 1:Exactly. Exactly.
Speaker 2:It would
Speaker 1:have been much better to just watch crushing in the hand. You know, you do those like strength training for a reason.
Speaker 2:That's right.
Speaker 1:Every once in a while, you don't wanna get caught lacking. Anyway, there's big news today. We're canceling the SaaSpocalypse.
Speaker 2:It's over.
Speaker 1:RIP SaaSpocalypse. It it occurred from January 2026 to February 2026, and it's over now. We're declaring it over. No. It's not it's not entirely over.
Speaker 1:Who knows where where the market will go?
Speaker 2:In many ways, it's just getting started.
Speaker 1:But I do think we're starting to see a bifurcation in the sloppable companies and the unsloppable companies. There should be some divergence between companies that have figured out how to integrate with AI, how to retool their business model, or just show that their business model was strong all along. Yeah. We'll And go through that.
Speaker 2:Well, yeah. There's there's a category of SaaS Yes. That is SaaS Yes. But they will be Fine. AI beneficiaries.
Speaker 1:Yep. Should we watch it? Have you seen Pacific Rim? No. We gotta watch this pump up speech.
Speaker 2:Let's do it.
Speaker 1:Because this gets me fired up. We're canceling the apocalypse. It's movie night again in class. So the storyline. Aliens, giant alien Godzilla like creatures called Kaiju's have descended upon Earth.
Speaker 1:No. And only robots that are as big as the Godzillas can fight back. But you need two people. It's much like us. You need two pilots because the mental load of driving the robot being in the drift is too intense for a single person.
Speaker 1:It will drive you crazy. So two pilots, two Jaeger pilots must pilot the ship together Very cool. And share the load.
Speaker 2:Very cool.
Speaker 1:And and so they both punch and then the robot punches. It's amazing. It's it's a great film. You'll know. He's got a You good you you're you're known for giving great speeches just like this.
Speaker 1:This is this is a Jordy Hayes original right here. Yes. Movie day. Again, welcome to the stream, Ryan. Today.
Speaker 1:At the edge of our hope. At the edge of our hope. Things aren't looking at The this of our time. AI is upon We've chosen not only to believe in ourselves, but in each other. We must believe in the stocks of the SaaS companies.
Speaker 1:There's not a man or woman in here that shall stand alone. No. Public company shareholder will stand alone. We stand with We the monsters that are at our door and bring the fight to them. We're bringing the fight to the Foundation labs.
Speaker 1:We are cancelling the apocalypse. We're cancelling the apocalypse. We're cancelling the sasspocalypse. And then the greatest soundtrack. Ever.
Speaker 1:I love it.
Speaker 2:I only I only really had to ever give one speech like that
Speaker 1:Yeah.
Speaker 2:Last year.
Speaker 1:Yeah.
Speaker 2:But it hit.
Speaker 1:It hit.
Speaker 2:The team needed it. And that We did.
Speaker 1:And we got through.
Speaker 2:Critical moment. Powered through.
Speaker 1:We powered through. So anyway, we've lost a lot of good soldiers, a lot of good market cap out there during the SaaS pocalypse, 2,000,000,000,000, something like that maybe. It's been rough. But And I mean, truthfully, like, the narrative does make sense. Like, agentic AI systems, copilots, foundation models, like these are disruptive innovations.
Speaker 1:Fundamentally, they're counter positioned against traditional seat based SaaS pricing. We know this. Legacy companies will be caught in a jam because pivoting the entire business model is difficult. You can't just flip a switch and start charging customers in a completely different way. Your investors will freak out because your finances will be deeply unprofitable all of a sudden.
Speaker 1:Company cultures and organizational structures are aligned around particular incentives, and so you have to rewire everything for a different business model. And that's really hard. And that's why people are sounding the this is a disruptive innovation, this is not a sustaining innovation like mobile or cloud. The SaaSpocalypse was always a little bit of an indiscriminate hammer. It felt like I mean, there was one article in the journal that was like Anthropic launched a legal tool, and that caused the sell off.
Speaker 1:And it's like, well, it could be that, or it also could be Cloud Code, or it could be OpenClaw, or Codex, or Spark, or like there's a million different things going on in the AI world. That one just kind of took hold. But I think we will soon be finding out what companies are truly unsloppable, as you put it, and actually benefit in the AI future. And there's a bunch of early signals, so let's run through them. First, Google's comeback.
Speaker 1:I mean, this was the first victim of the apocalypse. This one happened, like, a year or two ago. Why would anyone search Google ever if an LLM could get you a better answer and fewer clicks? Of course, Google quickly caught up to the frontier. They launched AI overviews.
Speaker 1:They flex deep DeepMinds research previews. They showed off the power of the TPU. Core business is surviving and thriving due due in part to Gemini helping understand intent so they can deliver ads on longer, more complex searches. So Google's been doing fine. They're they're sort of already building back from the SaaS apocalypse that they experienced.
Speaker 1:Then you have Meta. Will mute will user minutes migrate over to LLMs? Will Sora destroy Instagram overnight? Will Slop clog the feeds? Maybe, but not before Meta's transformer based gem model absolutely destroys ad targeting and just makes everything so much better and reaccelerates revenue.
Speaker 1:And we've talked to a lot of folks about that. And so Meta's doing very well. Even though they haven't, like, figured out their AI strategy, rolled out any of the new crazy frontier models from MSL, like, the business is great.
Speaker 2:Certainly argue they have an AI strategy. Totally. Use AI, ML to to make, really good ads. And they've doing it for a decade. But you're it's more on the product side.
Speaker 2:Right? Yeah. So is it is it the Manus? Is it net new products? Yep.
Speaker 2:Is it is it Meta AI?
Speaker 1:Yep. It gets more interesting when you go to the smaller companies, not super small, but Spotify doesn't really need to invest in generative AI. I heard a good analogy that was like, should Spotify have, like, released a guitar so that people can make more music? Like, no. Because people will pick whatever tool is available, and then they will release that music on Spotify.
Speaker 1:These artists, if they're using AI tools or maybe they're just prompters, whatever you want to call them, they will bring AI music to the platform. It'll be filtered by algorithms. Slop will be in the trough, but only the most delicious slop will bubble to the top. Current data shows AI music currently underperforms dramatically on a percentage basis. Like, the number of AI songs is huge, but the number of, like, actual minutes watched is low.
Speaker 1:Even if that flips, Spotify still benefits. Let's switch over to Shopify. You can definitely vibe code an e commerce website now, but Shopify is not a major cost driver for most businesses that use it. You're talking maybe like $1,000 a month for some companies, and it's a lot of headache that they just don't have to even think about. And then there's a whole bunch of advantages that Shopify should benefit from in the AI era.
Speaker 1:It's very full featured, so it's actually hard to replace. Setting up a new store is faster than waiting for a prompt to return, like it's all prebuilt. And then AI tools benefit from all the context and data that Shopify has across the entire platform. And then lastly, agented commerce doesn't replace Shopify checkout. Yeah.
Speaker 1:It's just a front end to the to the checkout.
Speaker 2:Much more normal or so Payment. Exactly. Post purchase.
Speaker 1:So if it's driving activity, that's actually a net benefit. And so there's a whole bunch more examples. Lastly, you gotta consider Salesforce. Marc Benioff has been duking it out with Jim Kramer on CNBC over seat based pricing in an AI era. And it's a 100% true that there are some amazing AI native CRM startups that are aggressively trying to eat off Benioff's plate.
Speaker 1:But Anthropic is hiring a Salesforce admin. They're growing so fast and so big that they that they need someone just to be full time job, manage their internal Salesforce. And so there's growth all over the SaaS ecosystem, and things don't seem to be decelerating or d or or slowing down. It's definitely go time, though, and it's time to revisit sources of strength. It's wartime.
Speaker 1:It's time to become unsloppable. It is wartime, and it's founder mode time.
Speaker 2:Yeah. So going back to the fax machine example. In 1999 was the first year that showed a significant drop in the sale of physical fax machines. They dropped by 10% in a single year.
Speaker 1:When was that?
Speaker 2:In 1999.
Speaker 1:1999.
Speaker 2:That is not a okay growth just started slowing. Yeah. It had been slowing up until that point. But it
Speaker 1:And then it
Speaker 2:went it slowing and then it like fell off a cliff.
Speaker 1:Yep. Should we read through this Goodwill Hunting meme? This sums up the SaaS pocalypse. Of course, that's your contention. You're a first time SaaS bear.
Speaker 1:You just got finished listening to some podcast Dario onto our cash probably. Now you think it's the end of white collar work and seat based pricing is screwed. You're gonna you're gonna be convinced of that till tomorrow when you get to something big is happening. Then you'll install ClodBot on a Mac mini vibe coded dashboard on top of a Postgres database and say, we're all just a couple of Ralph loops away from building a Salesforce competitor. That's going to last until next week when you discover context graphs.
Speaker 1:And then you're going to be talking about how the systems of record will be disintermediated by an agentic layer and reposting OAI marketing graphics. Well, as a matter of fact, I won't because ultimately, the application layer is just business logic on top of a CRUD database. You got that from Satya's appearance on the b g two pod, December 2024. Right? Yeah.
Speaker 1:I saw that too. Were you gonna plagiarize the whole thing for us? Do you have any thoughts of your own on this matter, or is that your thing? You get into the replies of anyone posting a SaaS sticker, you watch some podcasts, then pawn it off as your own idea to impress some VCs and embarrass some nonce who's long SaaS. See, the sad thing about a guy like you is in a couple of years, you're going to start doing some thinking on your own, and you're going to come up with the fact that there are two certainties in life.
Speaker 1:One, don't do that. And two, you drop $30 on Mac minis and LLM API calls to come up with the same conclusions you could've got for free by following a handful of VC accounts.
Speaker 2:That's great. Roasted. Matthew McConaughey hit Variety this morning
Speaker 1:What'd say?
Speaker 2:And commenting on AI. Brandon just shared it. Mhmm. He said, it's coming. It's already here.
Speaker 2:Don't deny it. It's not gonna be enough to sit on the sidelines and make the moral plea that, no, this is wrong. It's not gonna last. There's too much money to be made and it's too productive.
Speaker 1:Yeah. Acceleration.
Speaker 2:So I say own yourself, voice, likeness, etcetera, trademark it, whatever you gotta do, so when it comes, no one can steal you.
Speaker 1:Yeah. Yeah. It makes sense. The Matthew McConaughey voice, I mean, that's an iconic voice. I think there's definitely a huge deal to be done.
Speaker 1:And the AI voices, although we're in a boom right now, I remember being able to go on Waze and pick. I think Snoop Dogg had a deal, but there were a number of celebrities that had, you can imagine, like an Arnold Schwarzenegger, get to the choppa, but then also like, take a left, and it's like fun. And they would just prerecord all of the different lines, like, keep going straight, bare left, take a hard left. And you record, like, 20 different lines, and then the program just picks the audio file for the correct moment because there's only, 20 different things you could possibly say in a navigation app. But those types of things, there's a there's clearly a framework for that.
Speaker 1:And all the agencies and all the unions understand this. So I feel like we're in this weird, bizarro world where people think that, oh, IP law doesn't exist and we aren't going to be able to deal with this. It's like, no. Like, there's there's like decades of lawyers who
Speaker 2:like Yeah.
Speaker 1:Are foaming at the mouth being like, can't wait to sue ByteDance. This is gonna be awesome. The only thing
Speaker 2:is that it's gonna require real cooperation from
Speaker 1:Platforms. Platforms. The platforms are ready to cooperate.
Speaker 2:I disagree. Really? They're don't cooperating that hard. There's much there's so much content
Speaker 1:Mhmm.
Speaker 2:Of a bunch of individuals Yeah. On YouTube, on Meta that is using their name and likeness and putting them in situations that they would never ever ever agree to.
Speaker 1:Mhmm.
Speaker 2:It you can argue that it's not good for their brand
Speaker 1:Mhmm.
Speaker 2:But it's incredibly entertaining Mhmm. And so the platforms leave the content up. By the time you do a takedown request, it's got 200,000 likes or You
Speaker 1:don't need to do a takedown request. You just need to do pay pay me. Pay me. That's what people want. They wanna be paid.
Speaker 1:The the message in that Matthew McConaughey post is not is not like, it's it's super critical that no one ever uses an image of me or or my voice ever. It's that, look, if somebody's profiting off of it, that's that's my IP.
Speaker 2:That's my I mean, I I read his comment more around making movies.
Speaker 1:Mhmm.
Speaker 2:Like, saying, don't use AI to make this scene that would normally take four weeks in some exotic location and a thousand people. Obviously, AI is gonna be used for that. I think there's a separate issue of people generating Matthew McConaughey doing and saying things that he would never agree to that are sort of compromising or, again, putting him in situations or having him say things that he wouldn't ever agree to, even if he was getting paid. Michael Burry is going off Oh, happened? Karp.
Speaker 2:Palantir CEO Alex Karp has his head in the cloud Mhmm. Saying he's a frequent flyer. And they get into some of his business and personal travel expenses. During the years ended December 2024, the company incurred expenses related to the use of the executive aircraft of 17,200,000.0 and 7,700,000.0 respectively. It's quite the feat to spend 17,000,000 in a year on business and personal travel, particularly when the jet's not even the rental.
Speaker 2:Jefferies analyst, Brent Thill, he's got a bone to pick, runs the numbers. Assuming use of a mid sized jet with an estimated operating cost of $7,000 per hour, this implies roughly 2,400 flight hours or about 28% of the year in the air. Even under a more conservative assumption of a high end jet such as the g six fifty at an estimated 15,000 per hour, the 17,000,000 still equates to approximately 1,147 flight hours or 13% of the year. Notably, this 17.2 figure is more than double Carp's executive aircraft expense in 2024. And appears elevated relative to peers with Meta CEO spending $1,800,000 and Palo Alto Networks CEO spending $2,400,000 Terrible comps.
Speaker 2:Why? Like, Karp is obviously constantly traveling all over the world. Yeah. Yeah. He's an international businessman.
Speaker 2:Yeah. I know podcasters that do that do like two hundred and fifty hours a year. And then Oh, yeah. Like like, you're talking about going from like somebody who like travels like a a good amount at like Mhmm. Let's say like two hundred hours a year.
Speaker 2:To me, yeah. I might catch some flack for for defending private Aviation. Aviation. But it just doesn't seem that crazy. The entire reason that Palantir is growing the way it is is like they're doing deals in Japan.
Speaker 2:They're Yeah. Doing deals in in The Middle East. That's They're doing it's just like this guy is a global deal maker.
Speaker 1:Mhmm.
Speaker 2:And if you really wanted to do an analysis on this Yeah. You should look at all the international deals that they've done. Mhmm. Maybe ignore The US and see if Karp is actually delivering. Jira tickets says, do you think he has monetization on
Speaker 1:Who's he
Speaker 2:talking about? Khomeini. Khomeini's been putting up insane numbers on x. Quite the tense geopolitical situation. I hope that hope that we're not starting a new war in the But Middle if Khomeini does have monetization on it, certainly is a a real gonna be a real revenue line item on the Mhmm.
Speaker 2:I have to imagine, does does X sanction accounts?
Speaker 1:I think creator payouts are probably geographically limited to certain countries where the payment rails work if a country sanctioned. Like, I I actually get my Yeah. Actual creator payouts just straight up through Stripe.
Speaker 2:Yeah. Yeah.
Speaker 1:It just comes through Stripe. In fact, I think I had to set up a Stripe account to receive it.
Speaker 2:I think said PrimeIntellect was like the prototypical NeoLab.
Speaker 1:Okay.
Speaker 2:So he's really yeah. Put me
Speaker 1:camera angle. What's going on here? Okay. I like that. Different.
Speaker 1:Switching it So over the shoulder, I'm interviewing you. I'm getting to the bottom of it. You answer me. You answer me. Well, okay.
Speaker 1:Okay. We get it. Production team got some new p t PTZ cameras. We get it, guys.
Speaker 2:We have news on the Warner Brothers Netflix Paramount front. Netflix is open to raising their bid from Warner Brothers. There's a 35% chance that That's Netflix fucked.
Speaker 1:Like a stone. They were at like 70%.
Speaker 2:Yeah. Netflix apparently has ample room to increase their offer.
Speaker 1:It's better better position we billion dollar company Netflix,
Speaker 2:but think everyone believes that they're they're good for it.
Speaker 1:Yeah. Netflix has ample cash and could bump up its offer for HBO Max owner Warner Brothers Discovery if competing bidder Paramount Skydance increases its own offer. The two media giants have been locked in a heated rivalry. Oh, you see what they did there? That's a new popular show, heated rivalry.
Speaker 1:It's about hockey. Over Warner Brothers and its storied catalog, which includes iconic franchises like Harry Potter, Game of Thrones, DC Comics, and Superman. Though Warner Brothers is moving forward with a March 20 shareholder vote on Netflix's offer, it has given Paramount a week to come up with a more compelling bid. Netflix has bid twenty seven seventy five a share or 82,700,000,000.0 for Warner Brothers studio and streaming businesses, while Paramount has offered $30 a share or 108,000,000,000 for the whole company. The creator of Stranger Things is sitting on a lot of dry powder that gives it some flexibility to up the ante, holding about 9,000,000,000 in cash and cash equivalents on its balance sheet as of December 31.
Speaker 1:Warner Bros. Rejected Paramount's latest hostile takeover bid on Tuesday but gave the rival studio until the end of Monday to submit a best and final offer. We're going into the final rounds now. Price will likely be the deciding factor. Warner Brothers' concerns around funding and regulatory risk are real, but at a high enough number, they become secondary.
Speaker 1:Got it.
Speaker 2:Dude, David Zaslav must just be over the over the moon right
Speaker 1:The bidding war. He's been It's
Speaker 2:working the bidding war of his dreams.
Speaker 1:Yeah. That's great.
Speaker 2:Every CEO that is flipping an asset dreams of of a bidding war like It's
Speaker 1:great. Britsman expects Netflix will counter with an improve with any improved offer from Paramount, but the real twist is that these deals were never apples to apples, and it may ultimately come down to how much value the board and shareholders assign to the network business that Netflix would leave behind. So you need to do a sum of the parts. What's the value of just CNN, HGTV, the linear TV channels? Put that in because Netflix doesn't want that stuff.
Speaker 1:They just want, the IP and HBO. Paramount
Speaker 2:said
Speaker 1:it would continue to push the tender offer. It has launched for the studio, opposing the inferior Netflix merger and still plans to nominate directors for the upcoming Warner Bros. Annual meeting. All eyes are now on whether see the CBS parent improves its offer, which Netflix is allowed to match under the terms of the merger agreement.
Speaker 2:I don't see how Netflix actually gets approved on this one.
Speaker 1:You think that you think they're cooked?
Speaker 2:I think I think if I think if Trump is souring on it, it's over.
Speaker 1:I was so pilled on the whole YouTube is the real competitor here. Watch time matters more. Think about screen time. Roblox is a competitor in Netflix. TikTok's a competitor in Netflix.
Speaker 1:Fortnite's a competitor in Netflix.
Speaker 2:But Yeah.
Speaker 1:I don't think
Speaker 2:But that's what they want
Speaker 1:think like that. It's a very
Speaker 2:tough focus the entertainment industry, the core industry, people that make television shows and movies, things that you have, things that you have watched.
Speaker 1:Yeah. Movies that I have watched.
Speaker 2:Meta has obtained a patent for an AI system that could simulate deceased users by analyzing their historical data, allowing the account to keep posting, messaging, and even making video calls their behavioral style.
Speaker 1:You thought I would stop posting after you killed me. Nice try.
Speaker 2:Nice try.
Speaker 1:I will continue do that. You just
Speaker 2:created a billion John
Speaker 1:Googan posts. You just created a billion John Googan posts. Both satirical and and 500 worth
Speaker 2:daily assets. Family member sent me this this morning. Disturbed? Saying Or is this real?
Speaker 1:I'm surprised you can patent this. This is just like a thing
Speaker 2:Is meta thinking out? You got population collapse. No. And obviously, it's pretty hard to monetize a bot. But if you're driving
Speaker 1:In an AI doom scenario where all humans are dead, you wanna still keep your services up. You gotta simulate all the dead people, maybe. I don't know. Is this is this doom pill?
Speaker 2:Posting after death. There was a 4chan post apparently from a few years ago where somebody was like, I'm an engineer at Meta. Mhmm. And they basically fully I only saw a screenshot. Mhmm.
Speaker 2:May may or may not have been real, but it appeared to be from a few years ago. And they were saying like, I'm working on this feature. It seems bad. Interesting timing. Obviously, Mark has been in LA this week.
Speaker 2:He was getting he got grilled for us.
Speaker 1:Wait. That was in LA? I thought that was in DC. Oh. Interesting.
Speaker 2:Yeah. Kind of rude rude not to
Speaker 1:Yes.
Speaker 2:Stop by the Ultra Dump before he get Chopper before he got disposed.
Speaker 1:A little warm up on TVPN before you go in front of the big guy.
Speaker 2:Yeah. So he spent six hours Okay. Yesterday. We call Mark Zuckerberg to the stand. Thus began Wednesday's nearly six hours of testimony from the Meta Platform CEO in a trial of a lawsuit brought by a young woman against several
Speaker 1:And this was about benchmark hacking in Llama three? Is that what he's on trial for?
Speaker 2:No. No? Not as bad as that. Contending that social media
Speaker 1:Potential weakness in the ad model? Is that
Speaker 2:what it's about?
Speaker 1:Oh, wait. He's overspending on the metaverse.
Speaker 2:Concerns about distillation, I think.
Speaker 1:Oh, distillation. Yeah. That's why he'd be on trial for that. Yeah. That makes sense.
Speaker 2:Contending that social media causes depression.
Speaker 1:Okay.
Speaker 2:It's a guy Mark Lanier Lanier, the plaintiff's attorney
Speaker 1:We gotta ask him.
Speaker 2:In landmark case who spoke with a faint Texas twang, showed the courtroom dozens of internal emails and chats from med employees and executives over the years debating decisions like whether to ban the beauty filters teens used on Instagram to mimic the results of plastic surgery. So anyways, there's a bunch the features like that are kind of the focus of the case.
Speaker 1:There's also a story on the cover of The Wall Street Journal today. Social media bans for youth gain momentum worldwide. And it does feel like a parenting skill issue a little bit. Like, you know, it is possible to keep kids away from social media if you are an active parent. But at the same time
Speaker 2:I don't know. The only thing I would say, we don't have Maybe
Speaker 1:you should ban it.
Speaker 2:Children with phones yet.
Speaker 1:Yeah. But that's deliberate.
Speaker 2:Yeah. That's deliberate. But at a certain point, like, what?
Speaker 1:They would love phones.
Speaker 2:Sure.
Speaker 1:Sure. They just will not be having them. Yeah. I mean, I know my plan. I will give my son a disassembled iPhone one.
Speaker 1:And when he can assemble it and and and piece it together and manufacture it himself here in America, then he can use it. And we already ran this on Tyler.
Speaker 2:Twenty years later.
Speaker 1:And then we get and then we did get Tyler a phone. This was a good benchmark. We got Tyler we didn't we get you a real phone because of that? We did. Right?
Speaker 1:Yeah. Yeah. That was the reward.
Speaker 2:Yeah. Well, that was also because I I installed the new iOS when it was still in the day that I, like, totally destroyed my old phone.
Speaker 1:We gotta do another prank on Tyler soon. They're so good.
Speaker 2:Yeah. Chad, if you have any any good prank ideas, let
Speaker 1:us know. Yeah. He was like, no. No. No.
Speaker 1:Definitely not. EBay is buying secondhand. Thanks, Andrew.
Speaker 2:It was a good one. Andrew is the king of VC dad jokes.
Speaker 1:He loves it. He loves it. Fantastic. So eBay is buying Depop from Etsy for $1,200,000,000, and this is in The Wall Street Journal. The addition of Depop to its portfolio would boost its footprint while also expanding its presence in the fashion market.
Speaker 1:We are confident that as a part of eBay, Depop will be even more well positioned for long term growth, benefiting from our scale, complementary offerings and operational capabilities. EBay plans to cross list Depop products on its platform and expects the acquisition will expand its market share. Depop's seller and buyer cohorts will gain access to eBay's financial services, shipping and cross border trade solutions as well as its authenticity guarantee. Young consumers are a key demographic for eBay as Gen Z and millennial shoppers are driving secondhand commerce. Depop is also more popular as an app than a website, unlike eBay, which might bring in a new user base.
Speaker 1:So Yeah. Good luck to that.
Speaker 2:Yeah. EBay is still such a force, but it is certainly not cool. Depop is cool. EBay has struggled. Jordy has spoken.
Speaker 2:Great business. Not not cool. No. But Do
Speaker 1:know do you know why they call it eBay? No. Because it was founded in East Bay.
Speaker 2:Oh, by some East Bay rationalists?
Speaker 1:Yeah. Yeah. Yeah. Yeah. For sure.
Speaker 1:It was sort of a last round project. It's right up there with Andromic.
Speaker 2:Ara says, we have a definitive answer now. AI will affect the labor market starting with freelancers. The first paper to use business level data to track AI versus labor, a new paper from Ramp finds businesses are shifting spend from freelancers to AI. More than half of the businesses using freelancers in 2022 have stopped entirely. The companies that used to spend the most on freelancers shifted to AI the fastest, 97% savings for the businesses that spent the most on freelance.
Speaker 2:That is wild. Generally makes sense. I mean, whole premise of freelance is like you probably get paid a lot better on an hourly basis. Maybe you can capture more value on a dollar basis by working spreading your talents across multiple companies. But obviously, the flexibility comes with little to no lock in.
Speaker 2:And so businesses can much more easily shift spend around. So not super surprising. The vibes have really shifted.
Speaker 1:Yes.
Speaker 2:Terminally online engineer posted Dario's speech at the AI Impact Summit in India. Let's pull it up.
Speaker 1:Yeah. Let's watch this.
Speaker 3:Energy and ambition in this room and across India are incredible. I've been spending the last few days meeting with Indian builders and enterprises, and the energy to build together here is palpable, unlike anywhere else. This is the fourth AI summit we've held since the tradition was initiated at Bletchley Park back in 2023, which And I still in those two point five years, the advances in the technology have been absolutely staggering. Along with those, the advances in the commercial applications and the societal and ethical questions around the technology have only grown more urgent. My fundamental view is that AI has been on an exponential for the last ten years and as part of a sort of Moore's Law for intelligence and that we are now well advanced on that curve and there are only a small number of years for AI models surpassing the cognitive capabilities of most humans for most things.
Speaker 1:The words that were said there sounded normal and fine and just normal Dario talking points. The reading from the phone that feels like you're a best man at a wedding who didn't really prepare. More good news. If you're 65, congratulations. You own the economy.
Speaker 1:The Wall Street Journal was just blackmailing the elderly
Speaker 2:Perfect day to have saga.
Speaker 1:Physically and financially healthier than ever. So why do their needs keep taking priority over younger generations? People 70 are 12% of the population, but they got 32% of the dollars. They've been stacking paper for seven decades, and it's paying off. Demographics, rising profits, and soaring asset values have together wrought a quiet transformation in the American economy.
Speaker 1:The greatest wealth transfer in history is about to happen.
Speaker 2:The silver tsunami.
Speaker 1:Oh, is that what they call it?
Speaker 2:Never heard Well, in the small business acquisition community. They talk about like a bunch of most of the small businesses in America are owned by people that are near retirement age. They gonna have to turn over, pass the torch at some point.
Speaker 1:Yeah. America is really, really getting older. In 1981, 11.4% of America was 65, 65 or over. Today, that number is 18%.
Speaker 2:Do you think some of these people have been DMing Zuck and saying, hey, look, I'm getting older. I still want to be posting money spreads
Speaker 1:Yes.
Speaker 2:On Instagram
Speaker 1:For sure
Speaker 2:that. From the afterlife.
Speaker 1:I'm giving it away. I'm not passing it down. I want you to allocate it to. It is an interesting predicament that we are in. As the elderly share of population and wealth grows, their priorities and preferences shape the economy as well.
Speaker 1:They represent a growing share of consumer spending. Health care accounted for all of the net job growth in the last twelve months, reflecting the needs of an aging society. The problem is that while retiree wealth can finance a lot of consumption, workers have to produce what retirees consume. And relative to retirees, workers' numbers are dwindling. One solution would be for everyone to work longer.
Speaker 1:In 1983, Congress modified Social Security to gradually raise the full retirement age from 65 to 67. The the share of people 65 or over participating in the labor force did creep higher until 2020 with the outbreak of COVID that year labor force participation plunged for every group.
Speaker 2:Eli says
Speaker 1:Too cheap.
Speaker 2:Hey, Little Caesars. I think this is maybe too many emails to send someone for ordering a single pizza. See, John, look at this. Point proven. 1,600,000 views similar to Bland.
Speaker 2:Yes. 68,000.
Speaker 1:And I'm one of them.
Speaker 2:And So what do they actually do? So they do they give you the receipt and then they say we're on it. Yeah. So after you got the receipt, you can't trust that they're on it. Yeah.
Speaker 2:You gotta wait until they send you another email. We
Speaker 1:have received your order, man.
Speaker 2:Almost ready. Your pizza's almost ready. You wanna see if they're making pizzas pretty quickly.
Speaker 1:Go ahead and head over now because your pizza's almost ready.
Speaker 2:Order loaded into pizza portal with a trademark.
Speaker 1:Dear Eli, look for your name portal in our lobby and use code. Trade mark
Speaker 2:on the trademark pizza portal. TM. Pizza's ready. I bet you can't wait to enjoy your little Caesar's pizza. We understand.
Speaker 2:And it's waiting for you now.
Speaker 1:That's amazing.
Speaker 2:Are you on your way? Dear Eli, your pizza's been waiting in the peat in the trademark pizza portal for a few minutes now. Space in our pizza portals are limited. Yes. Cold pizza.
Speaker 2:I hope you dear Eli, I hope you like cold pizza. What? Because it's been over ten minutes since your pizza has been placed
Speaker 1:Placed in the pizza in the
Speaker 2:trademarked pizza portal.
Speaker 1:They're muggy.
Speaker 2:Order picked up. Hey. Can you imagine Are you there? Can you imagine the jump scare on the cold pizza?
Speaker 1:Cold pizza.
Speaker 2:On the subject line, that's gotta have the highest open rate.
Speaker 1:Wow. Anyway, get us five stars on Apple Podcast and Spotify.
Speaker 2:And we'll see you tomorrow. Have the best evening.