The Switzerland of AI, Roblox Short Sale, Google's AI Podcast
Good. Welcome to Technology Brothers, the most profitable podcast in the world. Today, we are talking about a number of news stories. The big one, did you see the Switzerland of AI? Yeah.
Speaker 1:How are you? Switzerland is like the the neutral party in the financial sector. Like, they don't really take sides. Well, Malaysia has has emerged as this neutral place where all every company Every company. Yeah.
Speaker 1:All the all the AI companies are building data centers there because it's right next to Singapore, which is a massive trading hub, but then it's also independent between, like, China and America. They haven't picked a side. But because they're connected to Singapore, it's, like, very easy to get to. But then they also have the, like, some of the largest concentration of undersea fiber cables.
Speaker 2:Beautiful.
Speaker 1:So it's just like, it's just like a huge huge,
Speaker 2:I wanna go Yeah. Scuba dive in Malaysia Yeah. And dive to, alongside the underground cable. Just like sort of like, you know, like, I'm not You know those shots of scuba divers where they're like touching a whale? Yeah.
Speaker 2:Yeah. Yeah. Yeah. Like imagine like touching the underground cable.
Speaker 1:That would be Information super high.
Speaker 2:Yeah. And just like downloading all of that like The power. Power.
Speaker 1:Look at how close it is to Singapore. Johor. That's the spot.
Speaker 2:Johor.
Speaker 1:And so they're You
Speaker 2:know where we're going for the holidays?
Speaker 1:They're, like, a couple years away from having the same amount of energy capacity as Northern Virginia, where, like, all the major AWS, hubs are. And it's interesting because a lot of a lot of the reason why the the data centers are being pushed overseas is because of the ESG
Speaker 2:Yeah.
Speaker 1:Things. Like, a lot of the big tech companies, they made ESG commitments. Have you heard this that XAI just didn't make any ESG commitments? So they're just bringing coal to just pump energy into this, latest training run?
Speaker 2:Yeah.
Speaker 1:It's very it's very fascinating.
Speaker 2:Whatever it takes.
Speaker 1:Oh, I mean
Speaker 2:It's a war between good and evil.
Speaker 1:I've talked to some AI founders who are, like, kind of worried about, like, the climate stuff just being Just
Speaker 2:the demand for coal?
Speaker 1:Yeah. Just because, like, there's just no way that we can ramp up everything else even though
Speaker 2:That's that's the irony of Elon, like, being the dominant player in cleantech Yeah. And then also burning
Speaker 1:Potentially. Potentially. Potential. Yeah. People, like, looked at, like, the satellite images of, like, what he's building and, like, there's just not enough power from the grid there to do what he says he's gonna do.
Speaker 1:So it's just, like, very clearly, they're just gonna, you know, set up as many generators as possible and then also pull from the grid and then also build solar and nuclear. Like, just throw everything out of it because it's, like, so important. It's, like, total anger. Somebody's gotta
Speaker 2:do it. Somebody's gotta do it. Yeah.
Speaker 1:What else do,
Speaker 3:did
Speaker 1:you read in the journal today? Oh, in the journal. Where to start? Where to start? I thought this article on, on the American guns that the Mexican cartels covet was interesting.
Speaker 1:Did you see this?
Speaker 2:Yeah.
Speaker 1:I don't I don't actually know when this printed. I think this ran over the weekend. But, apparently, Mexico is engulfed in a wave of criminal violence and disputes between rival drug gangs and US weapons are fueling the BudBeth. So there's just I I apparently, like a group of US dudes who buy American weapons and then sell them overseas.
Speaker 2:But Well, you've seen the videos where Yeah. It's a cartel and and there's, like, they do this sort of, like, show force
Speaker 3:Yeah.
Speaker 2:For the bosses who are usually nowhere near, like, the private armies. But I've seen videos where they're just, like, walking and there's just, like, a line of, like, paramilitary guys with the trucks that are, like, branded with the cartel Really? And it's just, like
Speaker 1:I didn't do
Speaker 2:that. Literally, like, you can walk and and pass, like, 500 trucks, like and it's all, like,
Speaker 1:it's a it's a Korean or Chinese
Speaker 2:Yeah. They're like force. Yeah. It's like Ford Raptors that have, like, turrets on the top.
Speaker 1:It it really does seem like the cartel is, like, almost equal in power to, like, the actual military at this point.
Speaker 2:That's the biggest that's the biggest I don't actually think I end up watch I end up, putting on, like, YouTube Yeah. To fall asleep. Yeah. And I always have to put on something that's interesting, but not really that relevant to my life. And so what I'll do is I'll put on this there's this podcast that only goes, like, super it's like a 2 hour podcast every time with, like, some journalists that's just been covering the cartels for 20 years.
Speaker 1:Interesting.
Speaker 2:And they just talk it's basically, like, reality TV for cartel life.
Speaker 1:Yeah.
Speaker 2:And so that's how I that for some reason it puts me to sleep and sort of like a calming, like, you know, hearing about the rise and fall of these sort of drug lords is, like, just relaxing to me.
Speaker 1:Yeah.
Speaker 2:And, yeah. I mean, the the the the biggest headline is that I think in the last presidential election, there was 37 candidates that were murdered, assassinated in the lead up to the new president.
Speaker 1:That's so insane.
Speaker 2:And that's just that's a little concerning. I think it's totally I don't think it gets enough attention just how out of control Mexico is.
Speaker 1:Yeah.
Speaker 2:And they're, a stone's throw away.
Speaker 1:Yeah. I mean, I have an employee who works in who lives in Mexico, and, you know, he lives in, like, a safe neighborhood, and it's fine.
Speaker 2:Oh, yeah.
Speaker 1:But it definitely seems like there's, like, you know, a lot of conflict going on. Look. The thing that blew me away about this article is that, like, I was expecting, like, okay, maybe AK 47. Like, you hear you think, like, American guns that are fueling the Mexican cartel and you think, like, AR 15. Right?
Speaker 2:Yeah.
Speaker 1:Maybe a AK 47. They start off with the minigun. The 6 barreled machine fed weapon can destroy a small car in minutes. It's resulting from
Speaker 2:a profile. I I whoever is the editor. Yeah. I don't think it's gonna take minutes
Speaker 1:for a minigun. It's like not everyone has the ability to use these sophisticated weapons. The mini the Mexican military seized the first mini gun from a crime scene in 2018 according to the military documents released by the nonprofit.
Speaker 2:Oh, it's a status thing. Just just like a Patek
Speaker 3:Yeah. Is a
Speaker 2:is a status Well,
Speaker 1:they go into that. The the the Zapata El Jefe and El Grito pistols are Colt 38 supers and it's like having a scepter or a crown for a king. And so they they actually have different weapons for specific tiers. So if you're the lowest ranking cartel member, you get the Beretta 22 pistol. If you're a little bit higher up, you get the 847, the goat's horn as they call it.
Speaker 1:Rocket launchers, the m72 LAW anti tank rocket. It's like, I don't understand how they get these. And and they're saying that the the whole point of this article is, like, these are American made weapons that are in the hands of Mexican cartels.
Speaker 2:But Yeah.
Speaker 1:I can't get I'm an American citizen. I can't get my hands on a on
Speaker 2:a On a mega gun.
Speaker 1:On a belt fed M249 SAW.
Speaker 2:Or a rocket launcher.
Speaker 1:Right? Or a rocket launcher. I mean, maybe the Barrett. You can buy a Barrett which is the, you know, armor piercing Yeah. Sniper rifle.
Speaker 2:You know, my neighbor's truck
Speaker 3:Yeah.
Speaker 2:Was recently stolen out of his driveway. Yeah.
Speaker 3:Yeah.
Speaker 2:It had the keys, in the truck.
Speaker 1:Maybe he needs a rocket launcher.
Speaker 2:No. No. But the thing that was interesting is it was immediately driven to a, harbor Mhmm. In Northern California, and it was hours away from being shipped, allegedly, to Mexico.
Speaker 1:Mhmm.
Speaker 2:And so there's this whole and it was like an, you know, blacked out Ford pickup truck. Interesting. And it's just so easy to imagine that truck taking a relatively short trip down the coast, like, pulling into a port in Mexico and being rebranded to, what is it? The CJ Yeah. NG Cartel.
Speaker 1:Well, Were you 2 were you the one that was telling me about the there was some guy who had, like, a, you know, a window company, and he had his, like, logo and brand on his truck. And then, eventually, he sold it, and it wound up, like, in an ISIS video with, like, his brand and phone number on it because it just got sold or stolen.
Speaker 2:Not all attention is good attention.
Speaker 1:Yeah. People probably know that he's not involved, but it's still very, very wild. And then they have they have something else here too. Yeah. The belt fed saw is the prize weapon for top drug lords in Mexico.
Speaker 1:The weapon denotes status with the security details of Mexico's biggest drug lords wielding
Speaker 2:You know, it's it does feel like soft.
Speaker 1:It's like a Gucci bag. It's it's more of a way to recognize who's in charge of the cartel teams, who's the boss, who's the closest to leadership.
Speaker 2:The new Hermes Kelly is Yeah. Is a Yeah. A bolt fed.
Speaker 1:I mean, this was, the the Barrett sniper rifle. I mean, just the fact that they're, like, actually considering, like, how do we take out vehicles is, like, so next level compared to the crime that we see in America. Barrett's are only assigned to mid level gang members, some trained in special combat. It's like they have their own SWAT teams. They have their own special forces in the cartel.
Speaker 2:Yeah.
Speaker 1:It's just so crazy.
Speaker 2:Well, you you know about, what is the, it's not Almencho. Who's the guy? So there's this guy, this guy, Ismael Zambada, otherwise known as El Mayo, and he allegedly was like a ghost for decades, but the theory is that he was the guy behind, El Chapo. Like, El Chapo was sort of like the front man and got all the attention and all the, like, all the drama was always seemingly around El Chapo. Yep.
Speaker 2:Yep. Yep. But El Mayo was allegedly calling the shots the whole time. He was, like, I believe he was an accountant prior to becoming, you know, a a drug lord and, or had some type of, you know he he was, like, the the he was, like, the CFO, basically, but the one that was actually calling the shots. The drama is that very recently over the summer, he was, flown over into I believe it was El Paso with and it and it was basically initiated by, one of El Chapo's sons that basically, like, abducted him, like, in Mexico, flown him over to El Paso, and the theory is that El Chapo's son was coordinating with American, like, drug enforcement groups.
Speaker 2:And so it's been sort of interesting, like, for me as a spectator to go from watching Netflix and watching Narcos, which is probably the last show that I watched to completion on Netflix. And YouTube has just sort of picked up all of that. So instead of watching, you know, this thing unfold, you know, that that happened 20 years ago, you can now go on YouTube and, like, basically in real time, cover the drama that's unfolding within the cartels.
Speaker 3:And
Speaker 2:there's this whole cottage industry of people that are basically small business owners, like media operators that are just, like, have an entire career built around covering the cartels in real time.
Speaker 1:Like, reporting on them.
Speaker 2:And basically, like reality TV. Interesting. And and and because of the emergence of the iPhone and cell phones in general, there's now, like, real time relatively high quality video footage. Yeah. Somebody sent me, a very dark video of a a cartel, like, ambush in, like, basically high definition where these 5 guys are sitting on a, like, ridge line, and they're just, like, watching their their ops, like, approach, and they just straight up just kill them all.
Speaker 2:Wow.
Speaker 3:And
Speaker 2:they're all just filming it. Like, they're all, like, looking like full members in the military.
Speaker 1:I mean, it's propaganda war as well. Like, they want to appear strong in addition to being strong.
Speaker 3:Yeah.
Speaker 2:And it's just wild, the state of
Speaker 1:Have you picked up on any rifts within the creator community? Like, is there someone who's, like, clearly more pro cartel or, like, maybe on the global Yeah.
Speaker 2:Like the the information warfare?
Speaker 1:Yeah. Because that happens in, like, I mean, if you look at if you do, like, China research on YouTube, you will see occasionally, like, there's an American who, like, goes over there and is, like, very pro China all of a sudden. It's like, okay. Like, you're probably being paid.
Speaker 2:Yeah. And there's the the whole emergence of faceless YouTube channels Yeah. Has created this environment where it's a perfect battleground for information warfare because you can create this, like, click baity Yep. Video that's like, here's why the United States should stay out of the South China Sea. And it's, like, 20 minutes of, like, pretty highly produced content.
Speaker 2:It's fairly convincing. Yeah. And then you look in the comment section, it's like nice try CCP. You know, it's like 300 likes. It's like the top comment.
Speaker 2:Yeah. But then, like, half the people watching it are just, like, going off there. Yeah. You know, the people don't realize that that most I think it's, like, 50% of YouTube viewership is on TVs. Yep.
Speaker 2:And it's not as comment oriented.
Speaker 1:Yeah. Not comment oriented or just autoplay next time.
Speaker 2:It's autoplay, so they're just, like, watching this and it's
Speaker 3:Yeah.
Speaker 2:You know, basically, like, television.
Speaker 1:I mean, Netflix can be like that too. Like, like, wasn't there there was some, like, 9 11 conspiracy documentary that was on, on Netflix that was, like, pretty debunked.
Speaker 2:Yeah.
Speaker 1:And and they will Netflix will put stuff out that's about, like, supervolcanoes. And it's, like, there's this weird, like, blend between, like, the, like, you know, UFO hunters, ghost hunters. Like Yeah. It's fun. And then it gets into, like, okay, is this, like, propaganda?
Speaker 3:Is
Speaker 1:this, like does this have an agenda behind it?
Speaker 2:Total. I mean, there's a long history of info like, people think about information warfare playing out through traditional, like, print media, online media, you know, New York Times, etcetera.
Speaker 1:Yeah.
Speaker 2:And there's decades decades of evidence that various groups have go the length to get highly produced films made
Speaker 3:Yeah.
Speaker 2:Including the same group producing 6 different films
Speaker 1:Yeah.
Speaker 2:Just with that all have different takes and angles and, like, objectives just to make it super confusing. Oh, different target audiences and also to just make it super confusing.
Speaker 1:Yeah.
Speaker 2:And, so that's certainly is happening on, you know, legacy media with, like, films and documentaries, but it's obviously happening on YouTube now.
Speaker 1:Yeah.
Speaker 2:Anyways, back to, not to get too far into,
Speaker 1:the politics Conspiracy line.
Speaker 2:Emerging, emerging cartel politics. But, should we talk about some technology?
Speaker 1:Yeah. Let's do it.
Speaker 2:Our favorite topic on the show.
Speaker 1:What's the what's the first?
Speaker 2:Yeah. Where to Roblox?
Speaker 1:Where to Google.
Speaker 2:We could, we could start with Roblox. This You were playing you were what were you playing last night? Forget the game. You're playing run from Run from Run from
Speaker 1:the the the Roblox movie game.
Speaker 2:Right after you were playing Escape from Epstein Island.
Speaker 1:I have never actually played Roblox.
Speaker 2:Yeah. It's always I
Speaker 1:have tried
Speaker 3:I tried
Speaker 1:Fortnite once and I tried Minecraft just to kinda know, like, okay, what is this thing? Didn't find them, like, deeply entertaining or anything,
Speaker 2:but it's almost all if you're very online Yeah. And there's this thing that allegedly is just so dominant, like, massive
Speaker 1:You gotta, like, learn about it. Like, I wrote the Matthew Ball piece on
Speaker 2:Yeah. So you learn about it, but but when somebody's saying, like, 10% of the world plays this 2 hours a day, you know, it's not actually that extreme with Roblox. But then you don't know anybody, you know, Roblox target audience is younger. Yep. But that was the case.
Speaker 2:There was also this calendar app that SoftBank backed, if you remember, that, like, was claiming to have, like they were claiming I think it was called IRL. Yeah. IRL. I remember it. Claiming to have, like, an egregious amount of users.
Speaker 1:They were basically just taking the most
Speaker 2:Yeah. Never once knew of anybody using it. There was the same thing for this, I
Speaker 1:think Nikita Beer called them out pretty early too.
Speaker 2:Yeah. There was some app that I think benchmarked back. There was, like, a college finance app that
Speaker 1:Yeah. Yeah.
Speaker 2:Was, again, the same thing. Turns out it was, like, they had some incentive where if you signed up for an account, you got $5, but, like, you could
Speaker 1:just people just sign up for signs. It's like, yes.
Speaker 3:It sounds like it sounds like it sounds like it sounds like it sounds like it sounds like it sounds like it sounds like it sounds like it sounds like it sounds like
Speaker 1:it sounds like it's a fraud. We're like, maybe, yes, there is technically an email address in the database, but it's fake. There was a ton of that.
Speaker 3:And it
Speaker 1:was also that company that sold to JPMorgan or something. You remember this?
Speaker 2:Yeah. Yeah.
Speaker 1:It was on 30 Under 30. Yeah. And, yeah. I mean but this isn't this is is this is this an allegation of fraud or just that, like, that stock is mispriced? Like, Hindenburg is just a short seller.
Speaker 1:Right?
Speaker 2:So Hindenburg did something similar. Like, I think that they like, my my opinion on Hindenburg is they could almost write their reports on any company Mhmm. Because there's always, like like, I'd love to see a Hindenburg research report on Apple, like, intentionally degrading iPhones
Speaker 1:I mean, just
Speaker 2:in order to drive sales velocity. Sure. Right?
Speaker 1:Yeah. Yeah.
Speaker 2:Like, we all know that for some reason or another, your phone starts getting materially worse after about 18 months. Like, every company has
Speaker 1:the most aggressive tactic. Yeah. Yeah. Like, whatever their most aggressive tactic is, you wanna see that detailed?
Speaker 2:And in the case of Roblox, they're they're repeatedly claiming that 50,000,000 people are playing Roblox every single day, and they specifically were wording it as people Yep. Instead of daily active users. And they were almost using those interchangeably, but it sounds a lot better to say people
Speaker 3:Yep.
Speaker 2:Because it's like those are real people that might have purchasing power. And it turns out that they were well aware that many people had alts, meaning 1 person with 10, 20 accounts that were used for different purposes.
Speaker 1:Yep.
Speaker 2:And they had internal tooling in order to determine who, like, who the actual person was behind those 20 accounts were. Yep. Yet they were still willing to call those 20 accounts people when it came to reporting. Yep. So, ultimately, I mean, I think all the issues that they call out are all the issues that happen on any video game with user generated content.
Speaker 2:Right? Yep. The concerning thing is that it's a game it's a video game for kids and maybe creating, like, a sandbox. Like, you remember people, like, there was even Minecraft is, like, pretty, like,
Speaker 1:you're in
Speaker 2:this world, you can build blocks and it's pretty contained, but then you could build, like, a statue of a huge penis.
Speaker 1:Yeah. You
Speaker 2:know? And, like, there's almost nothing you can do to stop that, I feel like, as a game. I think with Roblox, when you give people the ability to effectively build games within the games, and they're creating games like Palestine and Israel Hangout, LGBTQ plus vibes, guns work at a hospital. You know,
Speaker 1:I think it I think it's all bad. Backflashes to Roblox. Like, on YouTube, I've seen people kind of say that there's, like, kids that get hooked into, like, the developer ecosystem don't get compensated fairly. Like, there's been a lot of, like there's been various waves of, like, you know, oh, like, criticism, but it seems like the stock is doing well and that's why Hindenburg is, like, chiming in. Because they're primarily, like, a short seller.
Speaker 1:Right? Like, are are they publishing this after taking a short position? Is that what they're always supposed to assume?
Speaker 2:That's that's
Speaker 1:k.
Speaker 3:Do you
Speaker 1:have any idea, like, how big this fund is? Hindenburg Research, it has such, like, a meme y name, and then they're so, like, big on Twitter that I feel like it's What if it's
Speaker 2:like a $10,000,000 fund?
Speaker 1:Yeah. Yeah. It it almost feels like it could just be in a non account, but I think it is actually a research firm because, it was in the Wall Street Journal. Like, like, in, in this, it says
Speaker 2:it's just a very strange way. I think the real the one thing that you can focus in on is what is the is is part of the engagement because the games are so extreme. Because looking at these games, beat up people outside of 711 has 900,000 visits. Yeah. Beat up the pregnant is another game.
Speaker 2:Guns work as a Guns work at a hospital has been played 1,600,000.
Speaker 1:What's interesting is like is like I I understand that if you, like, I mean, no Hindenburg is not saying that they don't have millions of users. Like, they clearly do have millions of people. I guess yeah.
Speaker 2:But also
Speaker 1:But even even if you have millions of people, like, years ago, it was a reasonable thing to say like, well, you would have to hire tens of thousands of people to just sit there and watch everything to, like, monitor this for Yeah. Safety. But now we have LLMs. Like, you can just take every string of text
Speaker 2:Yeah. There's so many right? Like, look through it. It's funny because there's a lot of ways you could make a bear case for the business Yeah. Which is that, you know, user turnover is gonna be high.
Speaker 2:People certainly age out of this. You have 50,000,000 DAUs, and you're not making money. Like, Call of Duty does not put out a game and have 50,000,000 people playing it and not make
Speaker 1:makes you a deal. You're not making money on the first
Speaker 2:I mean,
Speaker 3:it's like
Speaker 2:sale. You have to imagine that, like, other gaming companies look at Roblox and they're like, you have 50,000,000 people and you don't make any, like, you have zero earnings. And so I think that there's a lot of ways to critique this business. I mean, the the the big thing to me is if you make it, it seems like you could make it pretty easy to eliminate games that were explicitly political Yeah. And just wrong.
Speaker 2:Guns work at a hospital, like, is that a game that we should be encouraging kids to play?
Speaker 1:No. And that's something that's so easy to catch with an LLM. You just throw it through and, like, the the most basic, like, llama model
Speaker 2:Yeah. Like, should you be able to should you be able to name a game Palestine and Israel hang out? Like, it's not the This is a video game. Right? It's not the town square.
Speaker 2:Sure. Nobody's arguing. Yeah. Yeah.
Speaker 1:Yeah. And so I don't think that Yeah. And no parents of kids who play Roblox are, like, for instance Yeah.
Speaker 2:So it's almost like when we should we should play the game one episode. But, like, should you be able to create a game and publish it under something called survive Diddy? And would those games get any users at all if they didn't have the word Diddy in it? Probably not.
Speaker 1:Right? No.
Speaker 2:So, like, it's part of, like, children children are innately drawn to offensive things Yeah. Because it just makes them, like, giggle and Yeah. Makes them whatever.
Speaker 1:I do wonder how much of this is driven by adults being creepy versus kids being edgy. Because it's totally possible
Speaker 3:that a
Speaker 1:13 year old is being edgy because they're edgy on Instagram.
Speaker 2:Yeah. And I think I think these games are just less malleable when we are kids. Right? Like, kid, you might, like, whatever. In Call of Duty, for example, like, people would try to make it to write a swastika
Speaker 1:Yeah. Yeah.
Speaker 2:You know, in the game. But it would eventually, like, the gate they would figure out how to, like, stop peep they would patch it. And so but when you create these open sandboxes, it's sort of if you're creating a metaverse, the same slime and and sort of offensive things that happen in the real world are gonna be recreated Yeah. Within the metaverse.
Speaker 1:I wonder if there's, like, an opportunity for something that like an like an app like a child safety app that you could put on, like, your kid's computer or kid's iPad.
Speaker 2:Strap it to their Orion. That's just like black that's that's Orion. Orion. Orion.
Speaker 1:Yeah. Yeah. But it just it just takes a picture of the screen, like, every 10 seconds and just says, like, is this offensive? Yeah. Is this offensive?
Speaker 1:And it's just asking the the the the model, like, is this offensive or is this is this, is this inappropriate for image? And it can capture, like, text or images or, you know, a a penis in Minecraft. Like, anything like that can all be processed. There's been there's some company called the Rewind that does that, but just for, like, your your second brain. Yeah.
Speaker 3:Right. You know,
Speaker 1:it like takes a picture of your screen and then you can. And I think Microsoft might have a feature for this too, where you can say, like, okay, I think like 2 weeks ago I was on a website of a short selling firm, but I can't remember the name. And it'll just be like, oh, Hindenburg Research.
Speaker 3:Right? Yeah.
Speaker 1:But There
Speaker 2:was even a there was a, I feel like there was a Black Mirror episode years ago that that had something where kids there was like a software update you could give to your kids where anything scary or wrong they wouldn't blurred. So the dog would be, like, barking, like, really, like, trying to, like, kill you, and the kid would just be, like
Speaker 1:Yeah. It's kinda creepy.
Speaker 2:And, we're probably headed we're probably headed towards that.
Speaker 1:I mean, the the steel man here, I mean, the the journal has the Roblox revenue versus net losses, and revenue is accelerating. Net losses over the last 3 quarters are declining. So they went from almost 400,000,000 in net losses to, just over 200.
Speaker 3:So credit
Speaker 1:price is stable at at 40.
Speaker 2:Yeah. Should we look at a 100
Speaker 1:and 40, though?
Speaker 2:Should we, let's see what impact this actually had.
Speaker 1:Oh, yeah. Did it move the market? Or it moved the the market for Roblox stock?
Speaker 2:So on September 24th, it was trading at $47 a share. And when was this
Speaker 1:This came out yesterday. It's October 7th or October 8th.
Speaker 2:So the stock is actually up. The stock okay. Over the last 3 days, it's down 2.9%. But
Speaker 1:Okay.
Speaker 2:But today, it's up 3%. So that's the thing. I don't
Speaker 1:It was priced in.
Speaker 2:It was priced in. Yeah.
Speaker 1:Everyone who owns the stock is, like, yeah. I know that I know that the people are fake and it's a cesspool, but I don't
Speaker 2:care
Speaker 1:because I I'm still optimistic that it will print cash flow in 5 years.
Speaker 2:Yeah. The question is, like, does this become I guess the question is does Snapchat not make money because of its user base or because of the way that it's run? Because you could argue that Roblox user base is even worse in many ways in terms of willingness to pay Yeah. From from an age standpoint.
Speaker 1:Yeah. Yeah.
Speaker 2:But it does seem like they're trending towards probably making a lot of money. My concern is how ephemeral how ephemeral are video games
Speaker 3:Yeah.
Speaker 2:Especially as they just get easier and easier to create.
Speaker 1:Well, I I I wonder I wonder how much video game revenue is essentially gambling driven in the sense that Yeah. Call of Duty has this monetization arc where the first game comes out, it's $60, $70. Maybe there's a $100 for, like, you get a little bonus skin for the day 1 edition. And then over time, they introduce loot crates that are effectively gambling where
Speaker 2:Yeah.
Speaker 1:I mean, you're not winning money, but you're winning, like, good skins for your guns or, like, rare items. Right?
Speaker 2:Yeah. What's what's the word? It's sort of, there's the official word for it is variable reward. Right? Sure.
Speaker 2:Sure. So it's like you just might get something or Yeah.
Speaker 1:Oh, you know,
Speaker 2:and you're doing it live in the headset.
Speaker 1:And so that clearly has more of a dopamine rush than just, okay. I bought this I bought this skin for $5 or the one that's a $100 I paid a $100 for. It's like, for $10, you could win either. And I wonder if you look at, you know, the the the revenues of the gaming companies. Like how much is driven by those day 1 sales?
Speaker 1:People just paying $60 versus the whales that wind up. Because for the mobile games, like, they're free upfront. They make no money Yeah. Non gambling and it's all
Speaker 2:The only the only apps making money day 1 are wallpaper apps.
Speaker 1:Yeah. So but but that's but that presents a, like, a really tough challenge for Roblox. Right?
Speaker 3:Yeah.
Speaker 1:Because if Roblox wants to every time they introduce something that feels like gambling, they're gonna feel the pain 10 times worse because it's their target market's kids. Whereas Call of Duty, it's like 40 year old hardos. It's like, yeah. Of
Speaker 2:course, my,
Speaker 1:you know, dad's gonna gamble on some skins because, like, he's having fun and, you know, whatever.
Speaker 2:Dad's dad's gambling again.
Speaker 1:Yeah. Dad's gonna find a way to gamble one way or another. If it's on Call of Duty, you know, outfits for his character, like, that's not as big of, like, a national news story as, like, 13 year olds are gambling on Roblox skins. So so, like, how can they I mean, they they they can they can, you know, pay wallet and age gate it and stuff, but, like, I mean, they're making a ton of money. Like, they're making, like, I I think it was $800,000,000 last quarter.
Speaker 1:It's pretty good, but I wonder if they're gonna run into problems, like, really ramping it up.
Speaker 2:Yeah. The question is is Roblox digital Legos, and does it have enduring brand value that they continue to monetize? Because it certainly looks like digital LEGOs. Like, I don't know if you it it basically, like, they took LEGOs.
Speaker 1:I've seen videos where people have recreated other games in Roblox, and it doesn't look like Roblox at all. Yeah. It's crazy.
Speaker 2:Right. But the core entry point
Speaker 3:Yeah.
Speaker 2:The cover art
Speaker 3:Yeah.
Speaker 2:Is like, hey, we're Yeah. Online like It
Speaker 1:was a very similar strategy for Epic Games and Fortnite where Epic Games created Unreal Engine where you can design any game from Gears of War to, you know, the new Halo is gonna be in in Unreal Engine. But then Fortnite is also more accessible. You can kind of design, like, a little custom game if you want, if you're non nontechnical or whatever.
Speaker 2:Yeah. I think the I think the issue with Hindenburg is this seems like a business that's way more impactful if you're doing one report every 2 years
Speaker 3:Mhmm.
Speaker 2:And just taking these, like, massive, very concentrated position. Yeah. Whereas, like, this almost feels like a stretch. Right? Yeah.
Speaker 2:Because you're trying to pin them, you're trying to pin them, you're trying to pin them on yeah. Like, they had they they honestly did damage to Square.
Speaker 1:Oh, yeah. Was that what it is?
Speaker 2:Yeah. Because I remember hearing
Speaker 1:about them for the first time and thinking, like, oh, the name I mean, the name implies, like, the Hindenburg. Like, it's a disaster. It's like world historic. Like, we have discovered something that's going to absolutely blow up. And so their name is, like, this is a 5 alarm fire.
Speaker 1:Right? And if they are talking about something that's mispriced by 20%, or the DAUs are off by 50%, but the revenues are still okay. It's not quite as hard hitting as, like is this the Hindenburg or just, like, a blimp that needs, like, a refuel of gas or something?
Speaker 2:Yeah. So they're putting out usually a couple of these a month.
Speaker 1:Oh, really?
Speaker 2:Which I didn't know. Okay. But it's like Well, the robot's like It's like maybe, like, 6 a quarter, 5 a quarter, something like that, at least if you look back historically. Yeah. And so I think it's actually just they're constantly doing this.
Speaker 2:Yeah. Most of the time, they're going after companies that are, like like, you don't know about, and they're genuinely doing bad stuff.
Speaker 3:Mhmm.
Speaker 2:But then for them, from a marketing standpoint, it's like it's this battle with for attention. Right? They're like, everybody's addicted to attention. Yeah. And so, we should try to we should try to invest in Hindenburg and see what their see what their process looks like.
Speaker 2:I wonder the only thing that would genuinely be cool is if it was, like, it was all their own money.
Speaker 1:Oh, yeah.
Speaker 2:You know? And they were just, like, yeah. Like, we just do this for ourselves, and we just share what we find, basically.
Speaker 1:Yeah.
Speaker 2:But it's interesting to see, like, they're basically a media company that happens to monetize through shorting.
Speaker 1:Yeah. You know? I mean, there were many media companies that monetize through longing.
Speaker 2:Longing. Right.
Speaker 1:They're going long. They're they're just merely on the dump side. Yeah. They've been on the pump side. Yeah.
Speaker 1:I always I I think it it must be such a nightmare to get all of that through legal and figure out what they can and can't say because you're putting
Speaker 3:up the
Speaker 1:you're kind of front running this information. You're you're Yeah. Somewhat manipulating the stock even if everything you say is true, like you're moving the market and stuff.
Speaker 2:Yeah. You have to assume that every single company Yeah. Like, they must get sued, like, 80% of the time.
Speaker 1:I would imagine. Because unless a
Speaker 2:company is such a dumpster fire, they're they're like, we have bigger battles to fight.
Speaker 1:Yeah. Yeah.
Speaker 2:If the CEO that's at the target gets attacked, if he wants to
Speaker 1:They're gonna find something to pick in there. Like, oh, this is actually wrong. That person that talked to you is wrong. Yeah. Yeah.
Speaker 1:It's Tricky. Very tricky.
Speaker 2:Really, really wild.
Speaker 1:Should we move on to Google?
Speaker 2:It'd be okay. Last thing.
Speaker 1:Yeah.
Speaker 2:If people did Hindenburg for venture funds, that would be so gnarly. They didn't monetize it. Just, no way to monetize it. Just purely for, like, if you had, like, spite Hindenburg, you know. Spite.
Speaker 2:Like, somebody wants to take down a certain fund, so they publish, like, 15 reports to make it look legitimate and then just drop, like, a bombshell. And they're, like, this fund, fund 4, is is gonna do, like, negative. You know, it's doing gonna do, like, a point one x. Yeah. Right?
Speaker 2:And they just go company by company company.
Speaker 1:So bad. I was thinking of that during the last cycle. Like, do you think there's anyone who raised, like, some, like, $50,000,000 fund and will return 0? Not, like, 0% gain, like, won't return a dime. Like like, the liquidation value of all the companies was 0.
Speaker 2:It must happen.
Speaker 1:It must it must happen. I mean,
Speaker 2:I don't care. That. Because But but but
Speaker 1:Most companies, like, they return, like, 10¢ on the dollar
Speaker 2:or something.
Speaker 1:You know? There There must be at least one that just
Speaker 2:Yeah. Yeah.
Speaker 1:But the point one would be astronomically bad. It's possible.
Speaker 2:Yeah. Sometimes we should cover some of the actual data on because, like, venture as an asset class gets just, you know, constantly attacked Yeah. Because, like, the bottom quartile is just genuinely so bad. But, like, from what I from what I've seen across, like, a few different reports, it's actually, like, the the median is, like, not that bad. Yeah.
Speaker 3:It's,
Speaker 2:like, maybe not as good as a median
Speaker 1:private equity fund, but it's still, like There's tons of venture folks who have been in the business for 20 years and they're they Yeah. They have never had, like, a banger breakout deal, but every deal is structured at a good price, and they run their business very well. They haven't overscaled their funds, and they make a decent, you know
Speaker 2:Decent living.
Speaker 1:Decent living.
Speaker 2:Enough to have the house in Aspen Yeah. The house in Montana, the house in
Speaker 1:in Speaking of the house in in Aspen, I couldn't print this one, and I was hoping it would be in the journal today, but this is, like, one of my favorite articles I've read. So apparently, people in like high mountain towns are pumping in oxygen into their houses. Have you seen this?
Speaker 2:No.
Speaker 1:It's the coolest thing. So I have this saved. The wealthy are paying big money to pump oxygen into their mountain homes. So there's, like, these home oxygenation startups now that, I'll just read you some of this. So That brings it down
Speaker 2:to sea level, basically?
Speaker 1:Exactly. Exactly. So, this guy Kevin Ross built a new mountain home at on a ridge at 10,500 feet in Telluride. So high that in the winter, it's only accessible by gondola, and it's so high that some of these guests struggle to acclimate. For those guests, Ross installed 10,000
Speaker 2:is crazy.
Speaker 1:It's really high.
Speaker 3:Really
Speaker 2:high. Like athletes go
Speaker 3:Yeah.
Speaker 2:And they fight in, you know, Utah. It's too much. They're out of breath.
Speaker 1:Not just 1 mile. Yeah. Yeah. Exactly. So he has a home oxygen oxygenation system in every bedroom of the 12,000 square foot house.
Speaker 1:This guy is a badass. I was thinking we should do a segment of like the tech bro of the week, like the person we give a shout
Speaker 3:out to.
Speaker 2:Yeah. Yeah.
Speaker 1:And this is definitely my pick this week.
Speaker 2:The only critique is that it's coal powered. It's just you see the smoke drifting off.
Speaker 1:Yeah. For those guests, Rost installed a home oxygenation system in every bedroom of the 12,000 square foot of house. Now, 10 oxygen enrichment machines located in the storage area, pull oxygen from the air outside and pump it into 4 bedrooms and a bunk room through blue tubing built into the walls. It makes the rooms feel like it's a 3000 to 5000 feet above sea level not 2 miles.
Speaker 2:We need that but for galaxy gas.
Speaker 1:This dude is a boss. He's 59. He retired as the owner of a pipe fitting company. Like, some business that you've
Speaker 3:never heard
Speaker 1:of, but clearly just crushed it. He and his wife who's 58 moved there last December, and he wants to have his friends come visit, but he doesn't want them to spend, like, 3 days, like, acclimating Right. So that he can come and hang out. So he spent 18,000,000 on this house, took 2 years planning and 6 years of construction, and and now he's just I love
Speaker 2:how he's he's ready to take. He guess he's gotta take the gondola to get Yeah. To get there.
Speaker 1:Yeah. And and then they profile a bunch of other people who have done the same thing, and apparently, it's just, like, really, really popular right now.
Speaker 2:See, that's proof that you don't need to work in tech to be a technology brother. Exactly. It's about how you leverage the tech.
Speaker 1:Exactly. Exactly. He's putting the tech to work. So each each enrichment machine costs 15 k.
Speaker 2:It would have cost
Speaker 1:5, but today's price, it's a 150. And a single unit can enrich about 2,000 cubic feet. There's there's these funny ones where he's where it's like, this dude's, bedroom was so big he needed 6 of them or something like that. But, man, all these other people, they they they they this this whole article is just like a world tour of, like, sick dudes, basically.
Speaker 2:Right. I need the I need the the the video of him on his, like, heli pad just like you
Speaker 1:know Yeah.
Speaker 2:Like punching Box like this. You know shadow box.
Speaker 1:Yeah. Yeah. Yeah.
Speaker 2:He's like this is why I laid all that pipe through Yeah. My life.
Speaker 1:I I've been to some like high elevation like ski towns for like ski trips and I've never had problems acclimating, But I wonder if that'll get worse with age. Like, they're they're describing it in the in the article, like, you get
Speaker 2:I just
Speaker 1:headaches and stuff. Yeah. And I've never had a problem with that.
Speaker 2:I remember as a kid backpacking trip with the family, getting going up to a, you know, high elevation in whatever 5, 6 hours and, you know, being in the tent throwing up.
Speaker 1:Oh, really?
Speaker 2:Yeah. I I've gotten that before. I just personally would never oxygenate my house because the the low oxygen concentration would just inspire me to grind harder. Right? I feel like I
Speaker 1:I I was thinking
Speaker 2:I need to be harder to kill.
Speaker 1:There was somebody else who I think, Nat Friedman just posted that he has a hyperbaric chamber. And I was wondering, do you know if Brian Johnson sleeps in any crazy, like, hyperbaric chamber thing? I feel like when you go full tilt biohacker, you're doing something to the to, like, the air mix while you're sleeping. Yeah. Yeah.
Speaker 1:But filtration
Speaker 2:guy. Right?
Speaker 1:Yeah. Okay.
Speaker 3:Yeah. I have these things in my house.
Speaker 1:I think it's called, let me get the name right. Yeah. IQ Air.
Speaker 2:It's a Swiss company. Yeah. And they they look like old school, like, fax machines. Really? It's like the ugliest thing in the world.
Speaker 2:Mhmm. But yeah. They were like hospital equipment. Like, it's not, certainly not cool looking. But, yeah.
Speaker 2:I think you wanna be filtering your air. People don't know this, but but your air is the air quality is almost always worse in your house than outdoors, which is somewhat counterintuitive. But there's
Speaker 1:And the air quality is much better in Malibu than, like, core LA too. Right?
Speaker 2:Yeah. Yeah. In general. Yeah. Just getting just being on the coast.
Speaker 2:Yeah. But it's still you're still You're still The air quality is still much worse inside. The house. And I think yeah. And the only way to really make it better is, like, through filtration, but also diluting the air with outside air.
Speaker 1:Oh, sure.
Speaker 2:Right? Yeah. But, yeah. Hyperbaric chambers, I haven't I've I've spent a little bit of time in them, but it's one of those things, like, it feels like a a pretty marginal benefit unless you're gonna sleep in 1.
Speaker 1:Yeah. I think I think Dan Freeman said he had psoriasis or something that he was fighting, and the hyperbaric chamber made his symptoms go down by, like, 90%. It was, like, very intractable. Like, he tried a bunch of things, and this was, like, the one thing that worked. So, like, if you
Speaker 2:have a problem, like Going to sleep in the chamber would be
Speaker 3:cool.
Speaker 1:I don't know if he's actually sleeping there, but, like like, I've heard that people do that.
Speaker 2:Like, the next step for 8 Sleep is, like, the the dome, like, bed chamber.
Speaker 1:They were building something like that.
Speaker 2:Damn. Putting their roadmap on glass.
Speaker 1:No. I I like that. I think it'd be
Speaker 2:I think it'd be cool.
Speaker 1:Yeah. It's awesome.
Speaker 2:I think we should probably record in a in a in a chamber.
Speaker 1:In a chamber? Well, there's a on on the on the 11th floor, there's some sort of a cryo chamber
Speaker 2:that you can use. Here? Yeah. Classic
Speaker 1:piano club. There's some, like, there's some company that does, like, regenerative medicine in the building. Yeah. Have you seen Notebook LM? It's gonna put us out of business, bro.
Speaker 2:Oh, the, the
Speaker 1:The Google AI general podcast.
Speaker 2:Yeah.
Speaker 3:Yeah.
Speaker 1:And it's 2 people talking out whatever you want them to talk about.
Speaker 2:Yeah.
Speaker 1:It sounds pretty good. Yeah. But it sounds like the most generic, like, Wikipedia article ever. Right?
Speaker 2:Yeah. And it's just trained on Reddit. So it's so it's like the most
Speaker 1:I think you can kinda put in whatever you want
Speaker 2:and and The AI goes. So my wife's boyfriend was telling me the other day, I'd be like, wait, what?
Speaker 1:It's just the most redditor Yeah. Podcast. Yeah. Have you listened to have have you spent like, what's the longest amount of time you spent, like, consuming AI
Speaker 2:So I think it's on YouTube Yeah. On some of these videos that a topic seems really appealing Sure. And it's, like, the video is clearly set up in a way to draw you in to get the click. And then you get through, like, a minute and you're just, like, ugh, like, this is, like, AI slop. Yeah.
Speaker 2:Yeah. And I think that there's, like, a very real thing happening on YouTube where there's the sort of, like, people are drawn to, like, the artisanal videos. Right? It's like Yeah. Yeah.
Speaker 2:I like I love that you keep doing, like, real voiceovers. Yeah. I love your edit, you know, like and and so there's this
Speaker 1:Yeah.
Speaker 2:There's, like, this their content is going from being, like, all handmade Yeah. Artisanal content Yeah. To now this sort of, like, mass produced, mass manufactured. It's the same thing that happens with, like, clothing. Right?
Speaker 2:Like, you know, it you know, you can go and get the the Cuccinelli of content. Right? It's, like, handmade, craft led content. Yep. And but yet there's gonna be, like, probably, like, 90% of content consumption will eventually become this sort of, like, sloth.
Speaker 2:Just, like, mass produced, just curated. You know, it's it's like, your fashion nova putting out you know, seeing 1 seeing a a a luxury brand drop something, the next day shipping the carbon copy of it.
Speaker 1:Yep. Yeah.
Speaker 2:Yeah. And why would that not happen with content? Because Yep. I'm sure there's already channels that when, I don't know, like, the needle drop, Anthony Fantano on on YouTube. So Anthony Fantano puts out a music review.
Speaker 2:Yep. Somebody just clones that content, repost it immediately Yeah. And, like, makes a better click baity title and gets, like, more views. Right? And so a lot of consumers will just keep watch you know, they're just, like, so in the the, being, like, you know, just navigated through that
Speaker 1:The algorithm.
Speaker 2:The algo. And you're gonna have to be like, the way to fight back is to be, like, no. I'm getting that. Our good artisan
Speaker 3:is not. Yeah.
Speaker 1:Well, I mean, there could be, like, taste, but then there's also, like, a price gate on the clothing. Right? Like, the, like, the artisanal clothing is more expensive.
Speaker 2:Yeah.
Speaker 1:So so so the monetization
Speaker 2:Yeah.
Speaker 1:Works out. Like, the fat the fast fashion and the LVMH stuff is, like, similar market cap
Speaker 2:Yeah.
Speaker 1:Probably, but, wildly different profit per per unit.
Speaker 2:Peter Zaha do you know Peter Zahaan? He he just went full paywall
Speaker 1:on YouTube.
Speaker 2:He he put out a video and he's like, this is my last video I'm doing. And that's kind of interesting because, like, the guy's got Yep. Incredible insights and takes, and I'm sure some of them are, like, have conflicts and are influenced by various parties, and he has certain narratives he likes to push. But He
Speaker 1:should probably still do some
Speaker 2:No. It seems like a
Speaker 1:some of the big gen
Speaker 2:for the pain world. Bad. Every comment when he announced it was basically, like, okay. See you never, bro.
Speaker 1:Yeah. It is tricky. Yeah. There there was this one YouTuber called Jake Tran. Have you heard of this guy?
Speaker 1:He's like a he's like business video essays, and he tried to pull himself. So he pulled himself out of, like, the editing and had a team writing and editing everything, but he was still doing the voice over and he was so he would just record the voice over and he wanted to pull himself out of that. So he started just recording the intro and then handing it off to another voice over artist to do it. And everyone was like, why aren't you even voicing your own things anymore? Like, this is so fake.
Speaker 1:And it's and it was like, he was just 2 years too early because the AI voice clones are good enough now that no one would notice if he used an AI voice clone. He might be now. I don't know. But, if there's gonna be a whole doubt
Speaker 3:on it. There's gonna be a whole cottage industry of
Speaker 2:people on YouTube that just, like, watch the video first, run, like, run some analysis on it to determine if it's, like, artesian. Yeah. Yeah. And then just be the first comment to be, like
Speaker 1:Yeah. I mean, it it does seem like there's there's maybe, like I don't
Speaker 3:know if there's an analogy with the clothing thing, but there is
Speaker 1:some sort of, like, barbell where, yes, you might want, like, the artisanal content for something that's, like, really entertaining and novel and interesting and unique. But then if I'm like if I just want to know about a topic that I don't know anything about, and I can just like search it and get a, you know, Wikipedia article or listen to that as a podcast, like why not? I'm a big fan of like, like the consumer gets to choose the format that they consume the content in. Yeah. So I can say, I want this there's a podcast here.
Speaker 1:I want you AI, I want you to transcribe it because I feel like reading. Or or there's a book here. I want to consume this in the form of a video. Like, make that for me and just translate it. Because that's where the AI models are really, really good when they're just swapping things over from one thing to the next.
Speaker 1:It's hard for them to do, like, truly novel new things, but they're pretty good at just, like, translation transform transformation. Right?
Speaker 2:Yeah.
Speaker 1:But yeah. I mean, glowing endorsement from Andrej Carpathi. He said he loves it. I listened to the one on Arnold Schwarzenegger, and it was kind of, like, it was a little
Speaker 2:I not that great. I think the thing that's interesting about that is the applications in education are wild.
Speaker 1:Yeah.
Speaker 2:If I'm so imagine this. I'm I'm a college student, and I'm going into an exam
Speaker 1:Yep. You
Speaker 2:know, in 5 hours, and I know nothing about a topic. Right? And it's gonna be, like, you're gonna sit down and have to write an essay. There's 3 topics. There you you you remember in college, it'd be, like, there's these 3 topics.
Speaker 2:You're gonna have to write an essay about one of them. Yeah. Right? So imagine I'm a I'm a college, you know, like gym bro. I'm going into this essay in 5 hours.
Speaker 2:I'm like, okay, I got 5 hours, and I tell my notebook l m. I'm like, you know, make me a podcast about, the signing the events that led up to the signing of the Declaration of Independence. 40 minute podcast, I just listened to it.
Speaker 1:Yep.
Speaker 2:And the recall on that is crazy Yep. Even if you're just, like, you know, benching in the gym. And so I think that's That's good. I think the applications and these sort of, like, you know, I don't wanna listen to NotebookLM talk about antitrust, you know, you know, situations within tech. Right.
Speaker 2:Because the part of listening to takes about that kind of thing is you want the host to have some insider information that's not publicly available. But if you're just talking about, like, history and trying to learn about, like, why why is, you know, why why who would benefit more from keto versus intermittent fasting? Yeah. Yeah. And then having those 2 people, like, talk about that.
Speaker 2:Yeah. You can learn a lot.
Speaker 1:It does seem like there's a lot of alpha in the content around, like, edginess or comedy or anything that's like that's like would would be censored by most LMS, so they can't produce it well. Or just comedy in general is novel. Like, I I even tested, like, Tell Me A Joke on, like, the latest and greatest, like, you know, GPT01, and it was terrible. Like, it's not even close.
Speaker 2:Not even a singer.
Speaker 1:It's just not anywhere near not making any progress there. But it's incredible at math and, like, a whole bunch of other things that it's supposed to be good at. But the there is something else to be said for, like, content that where the AI seems to be really, really bad about surfacing new facts. And and a lot of reporters will say this where, like, oh, yeah. Like, LLMs can, like, write articles now.
Speaker 1:But like, that's not really what reporters are doing. Like, when a reporter writes up an article, that's like the last 5% of the work that they've been doing. Like, 95% of the work is like collecting new facts that don't exist on the Internet. Yeah. And don't exist anywhere because they talked to someone, they got a fact out of them, they got information, and they corroborated it.
Speaker 1:And so there's still value in, like, surfacing that fact, but there is a question about, like, how do you monetize that? Like, you need to set up a really, like, tough paywall because, like, if you're as soon as that fact gets surfaced in your article, boom, you're gonna be cloned in a 1000000 places immediately, and other people are gonna try and monetize that. Like, that's gonna be really really tricky. Already, people do that all the time where it's like someone gets the scoop and then it's reposted immediately. It just, like, changed up a little bit for some other, like, rag.
Speaker 2:Yeah.
Speaker 1:But I don't know. It's interesting. Who will? Should we What else should we talk about?
Speaker 3:Should we
Speaker 2:talk about venture funds?
Speaker 1:Yeah. Oh, yeah. Yeah. Yes. Yes.
Speaker 1:CRV giving back money.
Speaker 2:Yeah. So my I mean, I actually don't know a single person at CRV. I have some portfolio companies that have, you know, spoken to them over the years and, you know, more recently. But, ultimately, what this comes down to is I haven't seen I cannot recall CRV being in a headline, like, within the last 12 months about anything
Speaker 3:Yep.
Speaker 2:And they effectively chose to make their biggest media moment. They chose to make their biggest media moment giving back money, which I feel like as a venture fund, all of your marketing should be towards founders Mhmm. Just one customer, and then, you know, LPs. LPs, which is your other customer.
Speaker 1:Yeah.
Speaker 2:And going out and making the the the only thing I can recall about CRV now, aside from interactions portfolio companies have had with them, is that they decided that they didn't have places to invest money and, like, the whole strategy that they had raised around.
Speaker 1:Yeah.
Speaker 2:And so, one, it it almost feels like they're traders to go to the New York Times and feed them, you know, because
Speaker 1:Well, are you sure that's what happened? Because it's totally possible that that that they announced this to their LPs and their LPs leaked it immediately. Like, that's where most
Speaker 2:of the information is But if you pull up the article
Speaker 1:Oh, it's like they're commenting.
Speaker 2:They're it's their 4 partners in the picture. They decide they just they made the decision to have the New York Times come and photograph
Speaker 1:It's a new photo.
Speaker 3:Yeah.
Speaker 1:It's not like just their default, like, they pulled it off the website. Okay.
Speaker 2:We should because that
Speaker 1:could be No, sir. Here's like
Speaker 2:Here's why I think it's a New York Times picture.
Speaker 1:Yeah. Don't be rude. It looks like a New York
Speaker 2:Times picture. And
Speaker 1:and They look sad. They
Speaker 2:look sad.
Speaker 1:I knew you were gonna say that.
Speaker 2:Which is normally what the New York they're like, hey, like,
Speaker 1:act like your dog is sad. Yeah. Yeah. Let's do one series. Well, they look sad.
Speaker 1:Yeah. Yeah. Snap. Okay. That's the one we're using.
Speaker 1:Yeah. Classic.
Speaker 2:Yeah. So yeah. It's Ryan Young for the New York Times. Oh, wow. It's written by Aaron Griffith
Speaker 1:Yeah. Yeah. Yeah.
Speaker 2:Who we know has a history of saying that she's gonna position a story one way and then putting it that way.
Speaker 1:Okay.
Speaker 2:But the idea to go to Aaron Griffith and their comms agency, whoever they're working with for PR, because I would assume they are, be kinda weird to affirm that size knot.
Speaker 1:I mean, they probably knew that it was gonna leak for the LPs. So,
Speaker 2:like Yeah. But it's just, like, why I don't nobody did they want a pat on the back? Like, do they want to be acknowledged for, like, to me
Speaker 1:It's a little late. I mean Yeah.
Speaker 2:It's a little late one. It's 2 years after Fundy, Fundy. Similar decisions were made. Yeah. And I just don't know I mean, and the other thing is that I don't know I don't know I have no idea the mechanics of it, but it's not like they had the money in their bank account and they were, like, giving it back.
Speaker 2:It's that they didn't make the
Speaker 1:capital call. Yeah.
Speaker 2:So you'd basically the same article as CRV resizes their growth fund. Okay.
Speaker 1:Is that
Speaker 2:a story? And is that what you wanna be covered about? Like, could you not think of anything else?
Speaker 1:Presumes that the reader doesn't understand the concept of a capital call. Like, the like, the New York Times reader definitely thinks that if a venture fund raises $1,000,000,000, they have $1,000,000,000 in an account somewhere.
Speaker 2:Yeah. Yeah. Yeah. Yeah. Yeah.
Speaker 2:Exactly. And that the VC is, like, took 50% of it. Yeah. Yeah. Yeah.
Speaker 2:Or that it's 90% their money Yeah. Or it's all their money.
Speaker 1:Yeah. Yeah.
Speaker 2:It's the average. Yeah. So, yeah, I think, I think giving Erin Griffith ammo to make to paint tech in a bad light as though tech is just, like, this disaster. Her heart is, like, her entire
Speaker 1:Venture is not working anymore. Funds are giving it back. You think that's the the the goal here?
Speaker 2:That's always the angle. Right?
Speaker 1:No. But, I mean, for for every one of these articles, there's 10 that are, like, oh, SoftBank's back in the game, baby. Like, let's go. Yeah. Exactly.
Speaker 1:Adam Newman's raising again or something
Speaker 3:like that.
Speaker 2:Yeah. But I don't think Yeah. Does it But Aaron
Speaker 3:They're more.
Speaker 1:Aaron would cover that same
Speaker 2:story There are more.
Speaker 1:We are so back stories right now, then it's over. For sure.
Speaker 2:New York Times is not doing worse of back stories though. No. Like, it's always like Adam Newman is back, and this is why it's back. That's his way. Adam Newman is gonna make a bunch of ugly buildings beautiful again.
Speaker 2:Here's ten reasons why we hate that.
Speaker 1:Yeah. Yeah.
Speaker 2:No. So anyways, I I just like, I respect them making this a business decision. If I if I were CRV though, I'd be like, how can we get a story that's gonna be big that actually makes us seem like alpha Chads? Yeah. And, you know, saying that we have no places to deploy is not, you know, I don't know.
Speaker 2:Why don't you why don't you do a hostile takeover of a Caribbean nation? You know?
Speaker 1:Or would, Like,
Speaker 2:how much what could they have done with 275,000,000 in Haiti? Right? Could they have returned?
Speaker 1:Well, General Catalyst is buying a hospital network. You saw that. Yeah. Yeah. That's crazy.
Speaker 1:Like, that that is, like, the kind of type of bold move that gets you, like, crazy.
Speaker 2:Yeah. So but but here's here's the thing.
Speaker 1:Yeah.
Speaker 2:They are still investing out of their core $1,000,000,000 early stage fund. Yeah. And so
Speaker 1:I don't know. Select fund. It was just, like, their growth fund.
Speaker 3:Yeah.
Speaker 1:It's interesting that their growth fund was, like, so much smaller than their than their early stage fund.
Speaker 2:Well, that's why it's, like, I think you guys might have bigger problems than
Speaker 1:than Yeah.
Speaker 2:Than just having too much money to Yeah.
Speaker 1:I mean I mean, maybe they just hire some growth people and the growth people don't wanna do it anymore or didn't work out or something.
Speaker 2:Yeah. Anyways, I hope they generate massive returns for their LPs and and
Speaker 1:They do.
Speaker 2:And have, you know, massive, carry checks.
Speaker 1:Exactly. That's all I need.
Speaker 2:I would never root against any firm even if they think they're comps. Any any allocator, even if and I hope we see these guys on the Midas list for this decision. Right? Like, maybe, like, they have such a banger in the first, like, half of the fund that they're just like, no. Like, let's just let this cycle.
Speaker 2:Let's just let this ride. You know, maybe that's the whole thing.
Speaker 1:That might be smart. Yeah. Maybe they got something good. Good. They got something
Speaker 3:But what can
Speaker 2:they what can they have in there? What can they You'd
Speaker 3:have some
Speaker 1:you'd hold some cash back to do the next series the series z. Series
Speaker 2:z. Yeah.
Speaker 1:You gotta wait for the series z.
Speaker 2:Yeah. Anyways
Speaker 1:That's where the money is.
Speaker 2:Reed, Murat,
Speaker 1:Czar, and Fox. Newman. He's back, baby.
Speaker 2:He's so back.
Speaker 1:I I thought he was doing something else, like the real estate roll up.
Speaker 2:Yeah.
Speaker 1:Is this a new new thing or is this just a new way?
Speaker 2:Coworking thing. I think he was doing multifamily. Was that flow? Flow is
Speaker 1:And now this is called workflow.
Speaker 3:Yeah.
Speaker 1:Yeah. Avoids the specific business model that got his original co working company into trouble.
Speaker 2:Is it just a management company? I didn't actually read
Speaker 1:it here. I was just like, this guy's sick. Dude, this is this is
Speaker 2:the reason Technology Brothers is just Twitter and podcast Yeah.
Speaker 1:Exactly. Because no one's reading that article, and we're just, like, speculating. All I know is that, one of my friends ran into him at a party and he wasn't wearing shoes, and I was like, yep.
Speaker 2:That's on some things don't change.
Speaker 1:Yep. Exactly.
Speaker 2:There wasn't actually a zero interest rate phenomena.
Speaker 1:It wasn't. It was I mean, he he captured so much of the problem with the secondaries. Like like, to write him off, like, he's not in jail. I don't think he got sued or anything. He wound up with a 1,000,000,000 liquid or something like that.
Speaker 1:Yeah. And so he's gonna make a play at some point. He's gonna try and do something. I just wonder what this will be.
Speaker 2:Somebody told me his jet was on the market.
Speaker 1:Oh, really?
Speaker 2:Maybe he just maybe he just, Well,
Speaker 1:they come out with a new one, so, you know, gotta sell the old one.
Speaker 2:Right.
Speaker 1:Right. I think the g 6 50 is, like,
Speaker 2:you know, no longer the hot commodity. Phasing it. Yeah. Gotta go into
Speaker 1:the 7 50 or something running back.
Speaker 2:I didn't know this, but, I think his jet was black. Yeah. And, apparently, that that hurts the performance quite
Speaker 3:a bit from, like, a huge amount. Huge amount. Because if you're just
Speaker 1:attracting some black, but to, like, run the AC constantly, I think. And it Yeah. But it's also just
Speaker 3:so cool.
Speaker 1:Like, it's much cooler. Yeah. Michael Jordan's jet is also
Speaker 2:black.
Speaker 3:Yeah. And
Speaker 1:it's like a crazy paint paint job they spend a ton of money on. Yeah. Yeah. Wasting.
Speaker 2:And it adds, like, an egregious amount of waste. Cost. Yes. From the density of the paint or
Speaker 1:whatever. Yeah. Yeah. Silly.
Speaker 3:Should we
Speaker 1:go through some of these more tweets? I got I got a whole stack of Where's where's I printed them all off.
Speaker 2:Do we is this the same stack?
Speaker 1:No. No. No. Oh, sorry. I I don't have the same stack.
Speaker 1:We'll just pull them up one at a time.
Speaker 2:Okay.
Speaker 1:So the first one is from, Signal. I I I never say these non names out loud
Speaker 2:and then I didn't realize like
Speaker 1:I have no idea. But he says, the gap between the very rich and everyone else is actually shrinking drastically over time due to hyper capitalism tech. You drink the same coke as a billionaire. You use the same iPhone as a billionaire on the same network. You use the same exact same tools as a billionaire, e.
Speaker 1:G. Chat g p t. There is no special ultra rich person versions of software or apps. You read the same garbage online as a billionaire. Definitely true.
Speaker 1:You should be in the same fashion as a billionaire on the same networks. A billionaire ships the same type of toilet as you do. You're afforded roughly the same health care as a billionaire. Assuming you have insurance with marginal differences, you can, roughly go travel to any place like a billionaire can, private versus not. And then PG actually at the top reply and mentioned that he'd written about this in 2004, which is kind of funny.
Speaker 1:Got it. Mind the gap.
Speaker 2:Yeah. I don't I don't think things have changed that much. I mean, I'm gonna do, like, a very sort of, like, shaky analysis of this, but if you went back 100 of years ago and you had, like, a king and peasants Yeah. Like, they're both you could argue, you use the same stone, you know, on your wall, and it's like your bread was milled with similar grain. Yeah.
Speaker 2:You know, and it's like and your wine also gets you drunk.
Speaker 1:Yeah. You
Speaker 2:know, and it's like, well, the things that were truly luxuries were, like, oh, the king has, like, this little meager supply of, like, this certain spice.
Speaker 1:Sure. And
Speaker 2:it's, like, that stuff still exists. Yeah. Like, I can go you can go and get, like, blueberries that were handpicked
Speaker 1:Sure.
Speaker 2:You know, in Japan.
Speaker 1:Umakase strawberries.
Speaker 2:Yeah. Yeah. And and and I would argue that, you know, the the, you know, early, you know, first job out of college product manager that's going to Sugarfish Mhmm. Is not eating the same fish that we do
Speaker 3:Mhmm.
Speaker 2:When we go out to get sushi. I'm kidding. No. They're not eating the same fish. They're not eating the same fish that somebody who's having, you know, hosting a dinner party at their house and, like, having, like, some sushi chef from Japan, like, who flew over.
Speaker 2:It's just not. And so I don't know if you could argue, like, you know, the peasant is says to the king, but, sir, my wool, I I sure you know, I the wool in my sweater is the same as yours. Are we not so different? You know? Yeah.
Speaker 2:I do think that that that this actually goes back to Warren Buffett eating See's, you know, candy Sure. And being like like he's the original one of this. Obviously, he's known for sort of, like, eating down
Speaker 1:in some ways. Sure. Sure.
Speaker 2:But, yeah, I think it's just,
Speaker 1:like, capitalism.
Speaker 2:I I think that the takeaway from this is that capitalism rips.
Speaker 1:Yep.
Speaker 2:And we should encourage it and support it.
Speaker 1:Here's an interesting thing here where, like, if you are a billionaire and you want an iPhone or you want ChargeGPT, like, you, at some level, need some sort of competition or you need some other other people in the economy. It's like you can't just have one person with all of the assets. Like, there's some sort of wealth equality that needs to happen in the economy Yeah. Such that, like like, you know, like, the richest man can't make the best film happen and the best album and all of these things. Like, there needs to be a lot of other people building and doing other stuff.
Speaker 1:Like, it really is like a a a society that bounces off of each other, which is, like, important to get, like, the innovation that then becomes, like, evenly distributed over time.
Speaker 2:Right.
Speaker 1:Yeah. Right. It's interesting. I don't know. Well, should we go to China?
Speaker 2:Yeah. I think the cool thing the last thing I would say on that, I was talking to a founder on Monday who has a candy company.
Speaker 1:Yeah.
Speaker 2:And the the thing that's genuinely cool about all this stuff is, like like, the thing about the accessibility of all these things is being a billionaire doesn't make the iPhone more enjoyable Yeah. Somehow. Like, there's not even really apps that you can get. Right? And so it really Not yet, but once we launch the Wallpapers app,
Speaker 1:Pine Rich Wallpapers app, it's a $10,000 subscription.
Speaker 2:Yeah. Yeah. Yeah.
Speaker 1:There you go.
Speaker 3:I
Speaker 2:think it's a 1,000 a month is the cap.
Speaker 1:Thousand a month.
Speaker 2:But it's good 12 k
Speaker 3:Yeah.
Speaker 2:IRR per Yeah.
Speaker 1:Well, you just know you have the most luxurious wallpaper.
Speaker 2:Coming soon. Good.
Speaker 3:But,
Speaker 2:yeah, it's like it's just that that is all the evidence that you imagine how much people would be an uproar if you could go down that list and be like, billionaires have this and I don't. Billionaires have this and I don't. Billionaires have this
Speaker 3:and I don't.
Speaker 2:Yeah. Even Yeah. Given that situation, the dominant sort of, like, political view that gets votes seemingly is let's tax the 1% more even though or let's tax the tax the 10% more even though they already pay, like, 80% of federal income taxes.
Speaker 1:Yeah. Interesting. I have a friend who, is a Sugarfish hater, and he once referred to it as, like, the McDonald's of sushi. And I was like, now you're speaking my language.
Speaker 2:Yeah. I love that. I love
Speaker 1:that. It's it's amazing. Standby, like, you're delicious. Like, you didn't have to Low
Speaker 2:quality, but presented well.
Speaker 1:Repeatable. It's good. You you saw this, that Huawei in China built a European city. Right. This is Yeah.
Speaker 2:I mean, we're going. That's where our Asian studio has to be.
Speaker 1:It's amazing.
Speaker 2:I I Yeah. Why can't we do that?
Speaker 1:I I mean, I think it would be probably cultural appropriation or something. I mean, we can't do it.
Speaker 2:It's effectively our culture.
Speaker 1:Yeah. Well, no. No. We did the opposite.
Speaker 2:No. No. No. Yeah. I'm not saying build a great wall.
Speaker 3:I'm saying
Speaker 1:We kinda do that in the sense that there's, like, Chinatown and Japantown and Koreatown, but, you know, we don't take it to this level. Like, it'd be so sick if, like, Chinatown and New York City just looked like the Forbidden City in Beijing.
Speaker 2:Yeah. Yeah. Yeah. Imagine in Manhattan Yeah.
Speaker 1:If you're just rolling
Speaker 2:up there Or, like, you
Speaker 1:you go to, like, little Tokyo. The bus looks like it. Looks exactly like Tokyo. Yeah.
Speaker 2:The bus looks like a dragon. You know, you
Speaker 1:know, like It'd be amazing.
Speaker 2:See Winnie the Pooh walking around.
Speaker 1:But this architecture is just it's just so iconic. Like, you see it and you're just, like, that looks like Europe.
Speaker 2:Inspired.
Speaker 1:Yeah. It's just beautiful. But what a crazy what a crazy choice by Huawei
Speaker 2:to just, like Yeah. Huawei.
Speaker 1:Send it. 25,000 people work here. It's like acres and acres and acres. So you can just walk around this city for, like, you know, hours and just only see Italian, French, and German architecture.
Speaker 2:More residents than the entire town. Yeah. Double the residents of the entire town that I live in.
Speaker 1:I don't really know why I pulled this up other than just it's like crazy.
Speaker 2:Yeah. Honestly, let's we'd like to see more of it. I think the Excel campus will look similar.
Speaker 1:Should we talk about the all in podcast?
Speaker 2:Yeah.
Speaker 1:How how do you warm up for your all in podcast lessons?
Speaker 2:Sunning, my perineum.
Speaker 1:Oh, yeah?
Speaker 2:You know? Yeah. Both legs back
Speaker 3:Yeah.
Speaker 2:Sunlight just to kind of, like, get the chi going Sure.
Speaker 1:You know? Sure.
Speaker 2:To make sure that when Jason starts, you know,
Speaker 1:talking about the full Are you listening on, like, AirPods Max, AirPods Pros, or are you listening on more of a a wired headphones? But or do you do, like, a full, like, stereo systems?
Speaker 2:Because all ends toxic enough, I don't also want the toxic EMS. Right? Like like the the relationship dynamics of the show are Yeah. Already so, you know You
Speaker 1:don't print it on vinyl and just play it,
Speaker 2:you know, at home? That's a good
Speaker 1:I think that's really
Speaker 2:good. That's that's our next drop Yeah. Is is last
Speaker 1:week's all in episode on vinyl. On vinyl. And just like We should definitely do that. The the greatest hits.
Speaker 2:We might let's let's cut this out. Yeah. We don't wanna we don't wanna do that.
Speaker 3:Do you
Speaker 1:wanna leak this?
Speaker 2:Actually, no. We can leak it.
Speaker 1:Yeah. Our
Speaker 2:our 5 listeners Somebody else
Speaker 3:did that.
Speaker 2:They can get a little preview.
Speaker 1:Yeah. I like it. Let us know in the comments if you want the All In podcast listeners. Pressed vinyl.
Speaker 2:This is this is gonna be, like, a a a great journey for us because we're gonna find some guy in Brooklyn who's, like, the last guy just making, like, handmade vinyl records. Artisanal vinyl.
Speaker 1:I think having, like, the Trump episode or, like, the Elon episode on vinyl is just it's so high status for a tech bro.
Speaker 2:And there's this big Especially with the Yeah. Like like, there's something so like, a record, the packaging and everything, it's like it was the epitome of, like, album art Yep. When you could just, like, hold it
Speaker 1:Yep.
Speaker 2:And just, like, you know, seeing the Zoom screen of, like, just and all the good.
Speaker 1:The all in like, the podcast logos, they're square because they show up in your podcast feed square, and that fits just perfectly online
Speaker 2:Yeah.
Speaker 1:You know, cover. Yeah. But, I mean, I think everyone is kind of circling around the same conclusion around the All In podcast that, you know, it hasn't lived up to the expectations of what people thought it could be, unfortunately.
Speaker 2:In terms of
Speaker 1:Profit, mostly. I mean, I I love what they've done politically, genuinely. I think it's very good. I've talked to I talked to a a literal congressperson who is like, I get my takes from the All In podcast, which
Speaker 2:That's good.
Speaker 1:It's very good because previously, they were getting it from Kara Swisher in Greek Venture capitalist. Huge step forward. These are, like, people joke about all the different All In guys or whatever, but seriously, like, they're all on the same team, which is the most important thing. And even though they have a little infighting about politics, that doesn't actually matter. What matters is that they're all capitalists and they're all capital allocators and they all care about founders and business and, like, good things.
Speaker 1:They're not insane.
Speaker 2:Yeah. Yeah.
Speaker 1:And so, I mean, it is a huge thing, but it just sucks that they don't have ads.
Speaker 2:Yeah.
Speaker 1:I think everyone expected when the show got big.
Speaker 2:Right.
Speaker 1:This would be a place where the best ads and the ad rates would be super high, and they'd be making
Speaker 2:a lot of money. Six figure CPMs.
Speaker 1:Exactly. But they just haven't lived up to it. And I think that's why it's more important than ever that a show like Technology Brothers exists. A show that focuses on profit Profitability. Over Over audience listener satisfaction or
Speaker 2:Yeah. Yeah.
Speaker 1:Audience size Yeah. Yeah. Or any or even click community. Community. Exactly.
Speaker 1:All of that stuff. Metrics that down. To the side.
Speaker 2:Yeah. They're posting about
Speaker 1:Yeah.
Speaker 2:While they post pictures from their conference
Speaker 1:Yep.
Speaker 2:We'll be posting our p and l.
Speaker 1:Exactly. Exactly.
Speaker 2:We'll be posting our Stripe dashboard Yeah. Screenshot it.
Speaker 1:Everyone loves, oh, my podcast is this in the rankings or has this many stars and reviews. No. What's the EBITDA? How much do you Exactly. Cash flow?
Speaker 1:These are the important metrics for a podcast.
Speaker 2:Yeah. And so that's Per listener. Right? Exactly. Like, it's not just gross.
Speaker 2:It's Exactly. On a per listener base basis, what are you taking home?
Speaker 1:Exactly. Exactly. So
Speaker 2:And are you levering up? That's the other thing with podcasts, not using leverage.
Speaker 1:Oh, yeah. It's insane that they're not.
Speaker 2:It's insane that they're not. Right? Like Yeah.
Speaker 1:So yeah. I mean, I I I see them I see us kind of as a spiritual successor to the All In podcast.
Speaker 2:Kind of finishing a job what matters.
Speaker 1:Exactly. Like, doing what they couldn't figure out.
Speaker 2:And honoring it through, you know, paying homage to some of their most iconic episodes through vinyl release.
Speaker 1:Releases. Yeah. Exactly. That's great. Should we talk about the the Zuckmobile?
Speaker 2:Yeah. This was this was amazing. There's a lot of words that you could describe Zuck's era that I won't say.
Speaker 1:So give the give the overview. It looks so Zuck posted pictures on Instagram of him. He has purchased and customized his and hers, Porsches. One is a sports car, looks like a 911, and the other is a kayak. Woah.
Speaker 1:Woah. Woah. Woah. Woah. Woah.
Speaker 1:Woah. Woah.
Speaker 2:Woah. Don't disrespect Zach's choice. That's a GT 3 Touring.
Speaker 1:Oh, it's a GT 3 Touring. But it's not is it manual? Is it the ST?
Speaker 2:I think he said it's a manual. Okay.
Speaker 3:No.
Speaker 2:It's not an I mean, the Touring's are all manual
Speaker 1:Oh, they are.
Speaker 2:To my knowledge or maybe you
Speaker 1:could get it. I thought the ST was the GT 3 manual. I thought that was the whole point of, like, the The ST. The ST. That's why it exists.
Speaker 1:But maybe it's like Yeah. It's more just like analog.
Speaker 2:Yeah. Yeah. Yeah. But anyway Yeah. So so right away right away, it's cool.
Speaker 2:Somebody I saw somebody else saying, I don't know if it was this tweet, but, like, he's sort of realizing that him doing this is not cool to other billionaires, but it's cool to the average Instagram user.
Speaker 3:Yeah.
Speaker 1:That that's what the sweetest is. I think what Zuck realized is that the norm of avoiding ostentatious displays of wealth is entirely about intra elite social status and common people actually love stuff like this. This is a 100% accurate.
Speaker 2:Yeah. So the so the Plus
Speaker 1:there was this whole, like, fake thing for a long time, like, SBF drove a Civic, and was like, I'm not doing it for the money. And it's like, he was the most
Speaker 3:in it
Speaker 1:for the money and completely fraudulent. And so it's
Speaker 2:And Zachary was doing, like, I'm smoking meat.
Speaker 1:Yeah. You know that whole thing. Backyard. It's like Yeah. Yeah.
Speaker 1:Dude, if everyone knows your backyard is sick, like, it's fine. Like, just let us enjoy vicariously how sick your backyard is.
Speaker 2:Yeah. Yeah.
Speaker 1:We wanna see you surfing and stuff.
Speaker 2:My whole thing is, like, the the the, you've gone and told the entire world that your wife drives a turbo GT minivan, and it's a one of 1. And so what is the actual usability of it? Like, I don't understand. Is she pulling out of the Zuck estate to pick the kids up from school, and there's, like, this military convoy and helicopter? Maybe.
Speaker 2:And she's just, like, I love living my regular, you know, minivan mom life.
Speaker 1:Well, you know you you know, like, the standard billionaire, like, setup? It's like 2 black SUVs outside of everywhere that you go.
Speaker 3:Yeah.
Speaker 1:And so you walk outside, there's always 2. So if one breaks down, you can get in the other one. But then also, like, you don't know where they are essentially. That's just kind of the standard equipment. Yeah.
Speaker 1:If I was a billionaire, 2 Ford Raptors.
Speaker 2:22 Raptors.
Speaker 1:2 trucks for sure. Yeah. For sure. You know what you mean?
Speaker 2:Except the Raptor as a former Raptor owner Yeah. Is, like, really not that practical. Like, it's just not the cabin's just not that big. Okay. It's not like you can, like, you wanna
Speaker 3:be in
Speaker 1:the grocery store. Just stretch it. They can stretch it. Just a truck bed.
Speaker 2:Yeah. The, I'm very pro minivan. I've told you this. I recently purchased a minivan, a Mercedes Metris, very popular in Europe, less popular here, mostly used as an airport transport vehicle. I've been loving it, like, just walking up to your car, pulling the door, and having the door go out.
Speaker 2:Yes. It's very, very practical. My only critique is the color choice. I think chalk is the worst modern. Yeah.
Speaker 2:Porsche, you know, color option. The color. Yeah. The putty color. I love how we have to to tweet in black and white.
Speaker 2:But, yeah, it's a rough it's a rough color. Like, if you're gonna do that, why not do, like, the Funny color. The, like, python green. I
Speaker 1:I've been looking at the the new VW bus. Have you seen this thing? No.
Speaker 3:Is
Speaker 2:it the electric one?
Speaker 3:It's
Speaker 1:electric. It's called the ID Buzz. And it comes with But it's coal power. It's Coal power. Well, the electricity that It is from coal.
Speaker 1:Uses is from coal. Yeah. So, it's, it it has the sliding doors like a minivan, but it's a bus. So it doesn't read as a minivan fully. It reads as, like, something weird and different.
Speaker 1:And then it comes in, like, these crazy colorways. And I was even thinking, again, wrapped in, like, something more fun.
Speaker 2:So that I
Speaker 1:think that the optimization when you're a parent is just, like, get the car that will be fun for the kids.
Speaker 2:My optimization was extreme practicality and when they have the Airwand smoothie and they're throwing it around the car, I'm not worried about it getting on the leather. Yeah. You know?
Speaker 3:Yeah. Yeah.
Speaker 2:I just don't care.
Speaker 1:Yeah.
Speaker 2:Just like throw it throw it on the ceiling, throw it on there, throw up. Yeah. You know, like, do whatever you want to.
Speaker 1:I mean, I've been I've been testing the waters with, like, what car should I get based on my 3 year old's opinions. That's great.
Speaker 2:That's great.
Speaker 1:So I'll do, like, an AB test, like, which one do you like more? I'll show them 2 images. And the car that beats everything else, could you guess? Red Cybertruck.
Speaker 2:Yeah. I forgot to say Cybertruck. The Cyber Cyber Truck.
Speaker 1:It was designed by a 3 year old and it gets the 3 year old going.
Speaker 2:Yeah.
Speaker 3:Yeah. Yeah. And one
Speaker 1:of my friends was like, the Cybertruck is the most, like, it it's the it's the most perfect example of a car that matters to only it matters only to people who don't matter. Right? It's, like, it's cool to people who aren't goofy or serious. Right? And I'm, like, but it matters to 3 year old boys.
Speaker 1:Which is only dude I'm trying to impress. It bothers me. He's the only guy that I care about. I don't care what some, you know, random person thinks about my car. I care what my son thinks about my car.
Speaker 1:He's pumped to get in and go on an adventure.
Speaker 2:No. Most of my car purchasing has been driven by my my inner child. Yeah. Right?
Speaker 1:That's why I got the wagon. It says the reverse 3 c, like, rear view seat. That was always a hit when I was a kid. Yeah. I'm like, it'll be a hit for these
Speaker 2:And when I got when I got a raptor, I so I got this murdered out Raptor that had been lifted and tinted. Yeah. And it was like, what is the truck that, like, the 5 year old me wanted Exactly. And I didn't have because my parents drove 2 Priuses. Yeah.
Speaker 2:It was like, what do you wanna what should we car should we take to school today?
Speaker 1:My parents drove 2 Civics.
Speaker 2:Yeah. I was like, do you wanna take this, the white Prius or the gold Prius? And I'm like, no. I got a
Speaker 1:white and a gray or silver Honda Civic or or a white Honda Civic.
Speaker 2:So as an adult, I have some purchasing power, and I'm like, what what what am I gonna get? And I started I I I basically, like, had to train Sarah on it for a year. Every time I'd see a Raptor, I'd be like, that is a good looking truck.
Speaker 3:Yeah.
Speaker 2:Yeah. And it would basically, like, she was, like, the first, like, 10 to 20 times, she goes, absolutely not. I hate that. And then I kept saying it and I started to break through.
Speaker 1:The same thing. My my wife knows, like, nothing about you, but she knows that you owned a Raptor. And I've I've told her that Raptors don't depreciate, like, as much as other cars. And so whenever she sees a Raptor now, she's like, I know that that car doesn't depreciate.
Speaker 3:It's practical
Speaker 1:to say that. And and she's like, I hate that you've, like, taught me all these stupid car things because now I'm, like, noticing red brakes or, like, when a car has 4 Yeah. Has 4 tail has 4 exhaust pipes. She was like, yeah. Yesterday, I saw a BMW that didn't have any, like, details on it.
Speaker 1:It had been debadged. And I was like, oh, like, there's something under the hood there. Like a muscle car. Like, it's clearly modded. Yeah.
Speaker 1:And she was like, I don't need to know this. Like, why is this in Why
Speaker 2:is this in my brain? Because I could be using this for other things. No. But unfortunately with the the Raptor, the ultimate challenge and the reason that I got rid of it was, 1, because parking in the average LA parking lot with a Raptor, 1, can't fit in any parking garages Yep. Which is also just a general issue in LA.
Speaker 2:Yep. But, 2, anytime you're meeting with somebody that doesn't know you already, their first assumption is that if you pull up any lifted, murdered out raptor is that you are a total dickhead. And so, like, trying to I I just realized there was this period of, like, I had to, like, overcome that, and I was like, this is kind of a waste of time. Like, I'd rather somebody pull up and sort of, like, people, you know, people
Speaker 1:It is tough because there's no American car right now that sends just, like, a neutral signal. Like, if you're in, like, a Mustang, you're a Mustang owner, a Corvette owner, etcetera.
Speaker 2:That's so true.
Speaker 1:Raptor, same thing. If you're in a Tesla, people have all these weird mixed things. Like, it was either, like, your total, like, green, like, tree hugger, or now it's like you're a Trump supporter.
Speaker 2:Yeah. Yeah. We bought this before we knew what a bad
Speaker 1:thing was. Sad thing. Well, I mean, my hot take is, like, Elon is getting so, like, right wing pill that he's gonna make a v 12 model s Yeah. Yeah. With a with a gated manual and Yeah.
Speaker 1:And a straight pipe exhaust. I think that'd be incredible. He's just like, yeah. You know what? Like, you know, like, I I didn't get any credit for I didn't get any credit for the whole EV transition anyway.
Speaker 1:You guys don't like these EVs, so now I'm doing ice cars.
Speaker 2:Yeah. Yeah. Yeah. It's it's it is pretty wild that the Cybertruck is seemingly selling very well.
Speaker 1:Oh, yeah. Yeah. We have Yeah.
Speaker 2:It would sell even better if it was just,
Speaker 1:like controversial. Yeah.
Speaker 2:Yeah. Yeah. If it was more controversial.
Speaker 1:So, yeah, we have this one. S and P Global Mobility says Tesla delivered 5,175 Cybertrucks in July. This is a 60 1 percent month over month increase. They also estimate the rest of the electric pickup truck market sold only a combined 5,500. So Tesla Here's something
Speaker 2:that's funny about Tesla. So there's a founder the classic thing if you're a founder and you either raised a bunch of venture capital, I guess, in the case of this other tweet, or there's a founder of a note a note of a company that's actually doing really well. Cyber truck. And he bought a foundation series Cybertruck thinking that, okay, there's just gonna be a limited release. Like, if anything's gonna hold value, it's this one.
Speaker 2:Tesla has completely ignored that that that was ever supposed to be limited and sort of, like, foundational, like, first number of orders. Sure. And they're continuing to produce them at full clip.
Speaker 1:What's the difference between a foundation model and just a regular one?
Speaker 2:I don't know the design differences, but I think it was sold through as a limited, you know, edition. Like, you got the first cyber station. You know, like, one of the first one.
Speaker 1:Yeah. It'll be the one that, like, it'll be the one that
Speaker 2:But it was at a significant let's look at it.
Speaker 1:Yeah. It's interesting. I still love them. I think they're just beautiful and I I smile every time I see them around and my son smiles every time I see them around and I think they're just funny looking and I want more aggressive cars like this. I really like that Hyundai that that that's coming out.
Speaker 1:That one is crazy. Well, yes. So so they put the electric power train in the in the Hyundai Ioniq 5N and it's the guy who did the BMW M series. And what letter comes after m? It's n.
Speaker 1:So he went over there, put up the n division and he created, like, digital Controls. T basically, like, a dual clutch transmission and it has engine noise and all the car guys that have driven it are like, it's incredible. Like, you you forget that you're not driving like a manual or like a Right. Actual gauging car. And now they're gonna put that in this Hyundai Vision 74 thing.
Speaker 1:Yeah. Like, it looks amazing. It looks like something
Speaker 3:out of Back to
Speaker 1:the Future. Have you seen
Speaker 2:this thing? Yeah. Yeah.
Speaker 1:It looks really good. I didn't
Speaker 2:know that. I thought that was just a concept car.
Speaker 1:You you you so it was a concept car and they were gonna do it with some crazy power train that was like hydrogen. Have you seen this? The hydrogen cars? And they and they yank that. They're doing the electric.
Speaker 1:I think they're gonna do an n model so it'll have like 700 horsepower and but it'll be like 50 k or something. You'll be able to track on it.
Speaker 2:Yeah.
Speaker 1:And it'll just be like so funny. It looks so cool. And I think it's going into production. They're trying to get it live by 2029, which I think is unbelievable based on Hyundai. Like, I think that they're, like, pretty serious.
Speaker 1:It's out of concept car territory now. There's
Speaker 2:nothing better than when a car manufacturer wakes up out of their stupor.
Speaker 1:Oh, yeah.
Speaker 2:Because, like, every car manufacturer is pretty much a legacy
Speaker 1:Yeah. Company Yeah. Yeah.
Speaker 2:Except for Tesla and whatever, Rivian.
Speaker 1:Yeah.
Speaker 2:And when it when when these companies wake up, I would give an example of, like, Toyota with their Land Cruiser. It's like, hey. Let's take, like, one of our most loved cars ever, and let's just, like, run it back.
Speaker 1:Yep.
Speaker 2:And, like, make it modern and make it cool. And people love them, and you know, like, it you know that it's gonna be, like, a Toyota. Yeah. It's, like, it's great. They did the same thing with the the Lexus, effectively the same version of the car that has I guess it's, like, slightly I don't know.
Speaker 1:It's like Oh, yeah. The bigger the last one. Yeah. Yeah.
Speaker 2:And then the VW that you mentioned, the van, like Yeah. Yeah.
Speaker 1:Yeah. I bring it to nothing,
Speaker 3:like
Speaker 1:because There's nothing exciting that
Speaker 2:you like to see of these yeah. You take the legacy of these amazing Yeah. Iconic products Yeah. And you just somebody, like, wakes up one day at these manufacturers and they're like, hey, we should actually, like, do something cool or novel or
Speaker 1:I think VW got, like, the marketing right, but I think the car is actually pretty trash. Like, I think the range is really bad and the price is way too high. So I think, like, objectively, it's not a good of a car. But it's a cool idea, and I'm glad that they're, like, going in that direction, at least being fun. Speaking of Cybertrucks, did you see this, this startup promotion?
Speaker 1:This guy was announcing the latest version of a company called Bastion. And instead of spending a bunch of money on a video, we decided to do something more impactful, giving out free rides across New York City in our branded cyber trucks.
Speaker 2:Did you guys
Speaker 1:on the launch or how to grab a ride below?
Speaker 2:Yeah. So I never wanna hate on anybody trying to create value in the world, but this is just, like, so whack. It's like I now know that you were giving rides in a company Cybertruck, which why do you have a company Cybertruck as a crypto infrastructure company?
Speaker 1:Oh, and is that what they are?
Speaker 2:And I don't know what
Speaker 1:So, yeah, if
Speaker 2:you don't go deep I don't know what you do. I don't
Speaker 3:know what they do.
Speaker 2:It would have been much more impactful to
Speaker 1:Do something related to that. Like Yeah.
Speaker 3:Yeah. Yeah.
Speaker 1:Like, okay. Like, you know, this is like like, what are the themes of your business? Security, regulation, money, infrastructure, like, crypto, like, it's gotta tie to that somehow. Whatever stunt you do needs to be something of, like, around that.
Speaker 2:Yeah. If you're building like, there's so many things, like, back in the party round days, we did something where we were, like, hey, reply with your, like, address, and we're doing an airdrop. And then we airdropped NFT ads for Party Round into everybody's wallets, which you would then have to pay money to get out of your wallet. So we just sent them to, like
Speaker 3:Yep.
Speaker 2:The CEO of Figma and, like, all these other crypto people. So it's, like, cool. Now, like, there's a, and it just said this is an ad for party round. It was, like, in, like, comic. And so it's, like, there's so many things you could do Yeah.
Speaker 2:Yeah. Yeah. But I'm, like, okay, like, I could take the subway or I could, like, text the Bastion hotline.
Speaker 1:I mean, even even if they were just, like, okay, text them and we'll send, like I don't know if this is, like, security company. It's, like, okay, text them and they'll bring, like, like, 25 security guards
Speaker 3:will, like, follow you around or something like that. Yeah. Yeah. Something that's a
Speaker 1:little bit more, like, tied to the will, like, follow you around or something like that. Okay. Something that's a little bit more, like, tied to, like, security. It it feels like this should be about, like, a transportation company. Like, are you launching, like, a list competitor or something?
Speaker 2:Yeah. Or you do something like this during a conference.
Speaker 3:Yeah.
Speaker 2:So that at least there's, like, more like that. I'm just thinking, like, you're driving around SoHo and you see this, like, Cybertruck
Speaker 3:Yeah.
Speaker 2:And you're, like, okay. Cool. And they probably got, like, 10 rides in throughout the day.
Speaker 1:Yeah. And I do like the idea of, like, if you're a founder and you're picking a car and you just happen to buy a Cybertruck, like, throw your logo on it.
Speaker 2:Yeah.
Speaker 1:Like, I think that's really positive.
Speaker 2:Yeah. It's a good way to get cheap attention if that's the car that you personally want to Yeah. Wanna drive. But you can
Speaker 1:put it on whatever car you own if you have Ford Raptor. Throw some throw a wrap for your company on there. Like, that's funny and cool. And then when you pull up, people Yeah.
Speaker 2:Know how you send it out. It's funny that when you think about wraps as, like, a unutilized ad inventory.
Speaker 1:Yeah.
Speaker 2:The issue is that the people that would wrap their car with something for, like, a nominal amount of money are gonna have, like, not so great cars that you wanna associate with.
Speaker 1:Yeah.
Speaker 2:But, like, it would be a funny thing for, like, like, someone wrapped
Speaker 1:the Yeah. Yeah. With, like, you know, oh, like, buy my meta Ray Bans. There's a lot of Yeah.
Speaker 2:Yeah. Yeah. That would be cooler.
Speaker 3:That would be cooler. That would be cooler.
Speaker 1:Like, that would be cooler. RS with it. It's like Alright. It was just like like all of his different products. Like, download Instagram here, QR code.
Speaker 1:Yeah.
Speaker 3:Yeah. Like,
Speaker 1:he's just really tacky. Like No.
Speaker 2:I did that I did that with, our our old CTO. Really? He was like into, like, racing. Yeah. Yeah.
Speaker 2:I was like, let me do you have any sponsors? Let me sponsor your car. I got put 5 of my companies up there.
Speaker 1:That's great. Yeah. That's cool.
Speaker 2:It looks awesome.
Speaker 1:It also just looks cool. Everybody on the team. Yeah.
Speaker 2:It just makes the car look cooler. Yeah. That's an example of of capitalism in action is putting a bunch of stickers on a car makes it look cooler.
Speaker 1:Yeah.
Speaker 2:That's amazing. That's that's the power of advertising.
Speaker 1:Yeah. I like that. You saw this tweet.
Speaker 2:Yeah. So this is this is this is so this is just, like, so funny in in so many ways because for some reason, like, all the AI slop threat accounts have all decided that, like, this is the new scam. Okay. And it's
Speaker 1:I Break it down. Tell tell me the tweets. Tell me tell me
Speaker 2:There was, like, 30 of these tweets that are basically saying AI models are earning over AI influencers are earning over $5,000 per month. Meet Emily, a 21 year old model who was brought to life by AI. Now you can create your own AI influencer in minutes. Here's how. And I think it's cool technology, but to me, this just makes me go long, like, actual influencers because, one, people don't really realize, but, like, you can have a 100000 followers on Instagram being, like, an Instagram model Mhmm.
Speaker 2:And, like, make, like, below minimum wage. Because, like, unless you're genuinely influential and cool and brands, like, actually think that by working with you, they're gonna elevate their brand, the best that you're getting is, like, free product.
Speaker 1:Yep.
Speaker 2:So I'm imagining, like, all the guys that were doing, like, drop shipping stores 10 years ago and, like, didn't it didn't really work and they're looking for their next thing
Speaker 3:Yep.
Speaker 2:Are now, like, I'm gonna make an army of AI influencers. And they're just, like, gonna be, like, slaving over, like, creating, like, the perfect, like, all all this content because it's obviously, like, these people these people are competing against other influencers who are have a real connection with their audience, have years years years of sort of like a relationship, and genuinely are creating, like, artisanal content.
Speaker 1:Yep.
Speaker 2:And anybody that's going out and saying you're gonna make $60,000 a year with your AI slop influencer that's, like, has no opinion. And all these courses are for sure gonna say, like, if you can just get 1 AI influencer that's making 5,000 a month and then you scale Yeah. To a 100 or a1000, you could be making $5,000,000 a month Yeah. From your AI, like, influencer business.
Speaker 1:Well, that's where the money is. So that guy's promoting a course or something or, like, a product, something like Yeah. Yeah. Yeah. He's selling the product that allows you to do this.
Speaker 1:But you know what's really interesting is that that video there is an actual human. It's not AI generated. He's just saying that it's AI generated. Because, obviously, if you use a real person, it looks even more real. Real.
Speaker 1:And there's no there's no risk of, like, sloppification.
Speaker 3:Yeah.
Speaker 1:Yeah. Because everyone's like, oh, wow. Like, he was able to make a girl where the hands are perfect and everything. There's no, like, the hair isn't Yeah. Transforming or anything.
Speaker 1:And there's no, like, there's no artifacts. Yeah. So he must have the best tech in the game. I gotta go with this guy. That's what I at least that's what the community notes said when I dig in.
Speaker 1:Really? Yeah. I'm I'm like a
Speaker 2:community notes.
Speaker 1:Did I tell you this? I'm like I'm I'm like community notes admin now. Let's go. Yeah. It's
Speaker 2:like, let's go. So You're new to the new Wikipedia mafia.
Speaker 1:So so I can go in and, like, rate all the community notes. I can write community notes. I can do all that stuff. Great.
Speaker 2:You should communicate community note all our posts. Yeah. Just say, Technology Brothers is not not the most profitable podcast.
Speaker 1:Yeah. Because if you get a community note, then it'll be more viral to you. Oh, they got dunked on. Yeah. Exactly.
Speaker 1:Yeah.
Speaker 2:Yeah. So I mean, Trevor McPhedry is, like, already tried to do this with Brad back in the day. Oh, I don't know this. Like, he made an AI influencer called Lil Miquela. Oh, yeah.
Speaker 2:Yeah. Had genuine, like, million followers, like, really cool collaborations, like, really good execution over a long period of time. Yeah. He sold the company to Dapper in, like, 2022. And I would just, like but they were approaching it from, like, world building and actual storytelling.
Speaker 2:It's not like, give me a TikTok girl, like, that's between the ages of 22 25 and make them dance to the the most viral songs. It's like, okay. Like, I just I'm very bearish. But happy that the course bros have a new have a new A
Speaker 1:new graft.
Speaker 2:Product to sell. Yeah. One of my, one of the guys I was hanging out with at, a buddy of mine, this guy Kimiya, who sold his last company to Ramp, he's building, he's building software to, like, basically an AI agent to, like, find and win government contracts, which is cool.
Speaker 3:Cool.
Speaker 2:So we've been talking about, like, how do you create this sort of, like, cottage industry around, people basically showing other people how to find and win government contracts.
Speaker 1:And then,
Speaker 3:you know,
Speaker 2:in the same way that Shopify benefit I think shop maybe it was you that said I don't know if Hindenburg ever covered Shopify.
Speaker 1:Oh, I don't know.
Speaker 2:But, you know, basically, there's his business will be massively successful if you get all these bros being, like, millionaires are being made by government through government contracting, which I'm actually very think is very positive. Yeah. Because if you get a bunch of, like, smart young hustlers
Speaker 3:that
Speaker 2:are going to compete for contracts to do, like, toilet paper for, like, the penitentiary
Speaker 3:It's kinda like
Speaker 1:the old war dogs.
Speaker 2:Yeah. It's like, well, it actually increases competition and lowers the the cost for the taxpayer
Speaker 3:Sure.
Speaker 2:And the government. Yeah. So anyways, I I hope that that'd be good. Yeah.
Speaker 1:It's kinda related to, like, the Rise of the Rest thing that you've been talking about. Did you see that announcement from Valinor? Julie Bush put this out. Have you seen this?
Speaker 2:Oh, yeah. Yeah. Yeah. Incubator? Yeah.
Speaker 2:Is it an incubator?
Speaker 1:Yeah. I I mean, everyone's kinda confused about what it is, but it's like, you know, maybe incubator, maybe holding company eventually, maybe some of the companies live in inside. I think it's still pretty early, but,
Speaker 2:Did they raise money?
Speaker 3:Yeah.
Speaker 2:Is she a part of the Bush family?
Speaker 1:Oh, I don't know. Maybe.
Speaker 2:That's some more. If Ben was if Ben was here, he could quickly Yeah.
Speaker 1:The the the
Speaker 2:because that would be, like, the ultimate, like, if Jeb Bush is the lead investor.
Speaker 3:Oh, yeah.
Speaker 1:I was thinking about how there's, like, so few neo cons anymore. They're just they they're kind of a dying breed. Everyone's, like, you know, you're either, like, a right wing nationalist or, like, you're, like, left wing pro war, but there's no, like, right wing pro war.
Speaker 2:Dick Cheney is still he's still around.
Speaker 1:He's still Yeah. He's across the aisle now. Right?
Speaker 3:Yeah.
Speaker 2:He endorsed Kamala. Yeah. But he's just pro war.
Speaker 1:He's just pro war. Yeah. But, but, yeah, I I think I think the main the main value prop for Valinor is like, if you're just a talented founder, but you don't know anything about distribution, you don't know anything about government contracting, like, they will, in exchange for equity and cash, like, standard YC deal type thing
Speaker 2:Yeah. Yeah.
Speaker 1:They give you the the tools
Speaker 2:to get
Speaker 1:your first contract.
Speaker 2:That's super cool.
Speaker 1:Yeah. Very very Yeah. These Yeah.
Speaker 2:Because I I just think it's about the reason I heard about a guy who who is a basically makes like 1,000,000 of dollars per year as the guy that California contracts to when they need to move like protected bird eggs from like one location that's getting developed to another. And so like the that should not be a $1,000,000 Yeah.
Speaker 1:Yeah. Contract. There should be 3 companies bidding over that, like, aggressively It's
Speaker 2:like to get the price down. Because think about it. Think about if you went to, like, some environmental studies student and
Speaker 3:it
Speaker 2:was, like, hey, do you wanna take a 6 month course on how to transport, like,
Speaker 3:you know
Speaker 1:To date your bird. Date your
Speaker 2:bird eggs? They're like, cool. Okay. Now you can do this, and it pays $150 per day Yeah. And it's contract based Yeah.
Speaker 2:And, like, you've gone from a multi $1,000,000 contract to, like, okay, now we're paying, like, entry level, like,
Speaker 1:people what it actually deserves.
Speaker 2:And so I think more competition is good, and it's so opaque and inefficient that, can't possibly be very competitive. Yeah.
Speaker 1:Right? We were talking about this with, like, the, you know, the the SpaceX narrative is like, is like, you know, it's the power law winner. I think it's like a $150,000,000,000 company, and, it's great. And the and and Anduril has kind of, like, carved their their brand out as, like, the power law winner in defense tech broadly. But there there still remains the question of, like, they can be the power law winner and defense tech cannot look like the phone market.
Speaker 1:It can look like the SaaS market in the sense that, like, yes, they are the power law winner in the sense that, like, they're the Salesforce, they're the biggest company, and maybe they're the prime. Yeah.
Speaker 2:But look at the CRM market. You still have Salesforce and HubSpot.
Speaker 1:Exactly. There are still a lot of other companies that, like, do fantastically. And I and I also think, like, there's this there's this very broader element of, like, Anduril is, like, is like a prime and does, like, you know, DOD contracting. But when people think about, like, defense tech and hard tech, it gets so broad that people wind up like, Augustus with weather modification is, like, kind of in that milieu and yet, like, not He just called me
Speaker 2:from the Caribbean. Really? The wind Oh, yeah. Yeah. He said, don't tell anybody where I am right now.
Speaker 2:You're not gonna believe this. He's just in the eye of the storm just like
Speaker 1:He's fighting. He's fighting for his life right now.
Speaker 2:No. So I think the reason that defense tech is not gonna be or I would hope that it doesn't become the monopoly that Anduril, is sort of implies
Speaker 1:Okay.
Speaker 2:Is that.
Speaker 1:Oh, that's perfect. Yeah. Here we go.
Speaker 2:The reason that I don't think it'll be the monopoly that they, like, sort of, like, philosophize
Speaker 1:It could be monopoly
Speaker 2:over Yeah. Like, what they do. Stated one of the stated goals of the DOD and the government in general is vendor diversity.
Speaker 1:Yeah. I mean, Palmer told me that directly. He said, like, the government will not allow us to be a complete monopoly. Exactly.
Speaker 2:Yeah.
Speaker 1:But they can still be the greatest, like, value creation event in defense technology over the past 60 years. Right? Yeah. Yeah. Which is, like, a huge win for everyone.
Speaker 1:Yeah. And I think the the even cooler thing is, like like, I think about that that guy who's doing that stove, the impulse stove. And have you seen this? He he it's basically like a stove that has a ton of batteries in it. So he can it's an electric stove, but it can heat up, like, a pan very quickly, be be very precise.
Speaker 1:And he's always, like, cooking steaks on Twitter and being, like, I I cooked the perfect steak using my my stove. It's very cool. And it's something where it's, like, I don't know if that would get funded without Anduril. Even though it's, like, not in defense tech at all, Anduril just kind of, like, shook the tree to be, like, hey, it's okay to take risks on hardware. Because for so long, the meme was, like, hardware is hard.
Speaker 1:Like, pebble had such a bad go. Yeah. Otherwise, there were so many companies that tried and never really got to escape escape velocity. Now people are, like, okay, we're gonna take a shot on it again just with whatever. And that means, like, new fridge companies, new camera companies, new phone, like, new devices, like and I just think, like, more of those.
Speaker 1:Yeah.
Speaker 2:I have one that's relevant to the show. Maybe we should maybe we should, fund it. I want somebody to make me the world's most beautiful print office printer.
Speaker 1:I just bought this printer and Yeah.
Speaker 2:Long way my wife was gonna say, well, I'm gonna do that. So when you think about a printer Yeah. It's like basically the perfect business model. Yeah. It's like this sort of like
Speaker 1:Razor blade.
Speaker 2:Upfront. Yeah. Razor and blade. But I was driving over here, and I got I got an email that was, like, can you, like, print this out and scan it and, like, return it or whatever? And I'm just, like, oh, that's, like, super annoying.
Speaker 2:I don't know. I've Yeah. Done have a printer. I'd use, like, the, like, postal Yeah. Paste.
Speaker 2:And, and so I was, like, oh, now I need to buy a printer, and I'm, like, well, like, I need it to fit, like, the aesthetic of my office. And, like, I'm, like, okay. Now I'm gonna be, like, on website being, like, what's the least ugly picture? Yeah. But then it's, like, okay.
Speaker 2:Like, some things just don't die. And in the same way that, like, vinyl records are probably, like, you know, they're not as big as they were at the peak, but, like, stabilized and, like, there's just, like, people with, you know, various, it's, like, I would love to be able to buy, like, a beautiful printer
Speaker 1:Yeah.
Speaker 2:And, like, I'll sign up for the, like, you know, yearly subscription. You need
Speaker 1:to do it with somebody who's really cool and who the board of directors at Apple actually just wants to hang out with so you can sell the company like this.
Speaker 3:Yeah. Yeah.
Speaker 2:Yeah. Because Yeah. Yeah.
Speaker 1:They're like it should live that that clearly should live within Apple. They will never do it. Yeah. Probably for ESG reasons because it's printing paper and it's kinda
Speaker 2:But that would be that would be like a MK BHD, like, make a printer. Cool.
Speaker 1:Yeah. That would be great.
Speaker 2:Tech guy makes the ant the beautiful, like Yeah. I'm really bullish on hardware that is, like, just extremely analog.
Speaker 3:Yeah.
Speaker 2:Right? Like, I want like, it's in the same way that the highest like, the most luxury yeah. Like but, like, the most, like, Bentley when they're making new cars or, like, we know that our customers like like Switches. Switches and, like, stuff like that. And so and it's the same reason that, like, my least favorite technology company of my life is Sonos, because you made this, like, beautiful looking speaker that is, like, you know, very ugly to use and experience as a user from the setup to, like, it's not syncing anymore to Yep.
Speaker 2:Why are these three speakers playing, but, like, that one's not, and, like, oh, one of them is not connected to the Internet. It's, like, I'm gonna, like, take I I donated some Sonos speakers, but I'm now wishing that I brought them to the gun range. Because, like, because it would bring me joy to just, like, blow up, like, my Sonos speakers.
Speaker 1:It is crazy how, like, they're a pretty big company and
Speaker 2:They deserve to get mauled by Apple.
Speaker 1:They need a Hindenburg research. We tried the product and it actually is confusing. Yeah. Not the entire report.
Speaker 2:Yeah. They said that people were playing music every day, but it disconnects all the time.
Speaker 1:It disconnects all the time. That way. But it it really is a testament that, like, in order to do the the absolute, like, top tier software engineering where stuff just works, like, you actually have to be a $1,000,000,000,000 company like like Apple.
Speaker 2:Yeah. Yeah.
Speaker 1:Yeah. A $10,000,000,000 company just can't do it. Yeah. Especially if it's an old one.
Speaker 2:So do it I do it slightly analog.
Speaker 1:Companies like like, Ramp obviously has built something that's like they're they're punching way above their their size in terms of, like, the quality of the software. But it is it is extremely hard. It's craftsmanship to build, like, great software that actually works all the time.
Speaker 2:Like, Yeah.
Speaker 3:Yeah. Yeah.
Speaker 1:Because anytime you break those expectations
Speaker 2:Well, it's a firm where anytime you're getting into, like
Speaker 1:Yeah. The crossroad is really hard
Speaker 2:Yeah.
Speaker 1:Between the the hardware and software. Did you read this one? Marc Andreessen?
Speaker 2:This is so this is so real.
Speaker 1:What he said? He said, overheard in Silicon Valley, every company should add this question to their interview loop. It's fine if you have gone to Burning Man, but are you currently going to Burning Man? I think it means, like, it means, like, on an annual cadence. Right?
Speaker 1:Not much
Speaker 2:like literally right now. Yeah. Yeah.
Speaker 3:Yeah.
Speaker 1:Burning Man? I mean, I know why he hates it. Extremely high NPS but can't invest in it.
Speaker 2:That's it.
Speaker 1:Because if you ever talk to somebody who goes to Burning Man, dude, you gotta go. It's so
Speaker 2:amazing. Yeah.
Speaker 1:Yeah. Extremely high n p s.
Speaker 2:Yeah. But I haven't seen I
Speaker 1:haven't monetized it.
Speaker 2:So two things 2 things I I I've you you've effectively had, you know, almost going on a decade of having the ability to do it without the desire to do it, and I would say Ayahuasca and Burning Man. Yep. And, ultimately, both of them were sort of intuitively demonic.
Speaker 1:Mhmm.
Speaker 2:Ayahuasca is, like, hey, I'm gonna go take a plane 12 hours into the jungle to get 1 shotted by some jungle demon
Speaker 3:Yeah.
Speaker 2:And then, like, hope that it cures me. Right? And then come back with, like, okay, now I'm dealing with whatever, like, trauma I was trying to deal with and the trauma of my jungle demon, you know, who's calling me.
Speaker 1:What's under discussed in the Ayahuasca debate, Lex Friedman didn't get one shotted. I just listened to a recent podcast of him with the Cursor team, you know, these, like, AI, it's like a coding IDE. It was just classic Lex. There was nothing changed. He was fine.
Speaker 2:What do you mean he you're saying he did it and
Speaker 1:then came back? Oh, yeah. Yeah. There was a whole arc where he, like, went into the jungle. He, like, took a bunch of time off.
Speaker 1:He, like, I think he grew a beard and I I think he, you know, a conversation with Elon said he took, like, a mega heroic dose. Maybe it wasn't Ayahuasca, but I think it was. He did some sort of, like, shamanic retreat and he came back completely fine, has done
Speaker 2:much for your views. Here's the thing with He's
Speaker 1:just normal.
Speaker 2:Here's the thing with psychedelics. If you're going into a psychedelic experience and you're highly stable Yeah. And you're in a good place
Speaker 1:Yep.
Speaker 2:Then you come out of it being like cool.
Speaker 1:I'm good. I don't need a change.
Speaker 2:Yeah. Well, if you go in an unstable place trying to make it fix you, it's different to go into it being like I'm gonna have this cool unique experience Exactly. And maybe I, like, come out with a different perspective, but going and being, like, please, jungle demon, fix me.
Speaker 1:Yeah. This was the the Daniel thing. It was, like, it's a sorting function and it's Yeah. It's dangerous for Mark to invest in in pre sorted founders and that and that he should actually only invest in founders that have have done Ayahuasca and not been one shot.
Speaker 2:Still are doing enterprise SaaS.
Speaker 1:Exactly. Those
Speaker 2:are the those are the generational factors.
Speaker 1:Those are the killers.
Speaker 2:Yeah. So, anyways, I think that if you think about, things that are sort of, like sort of intuitively demonic, going and taking a poison and throwing up for for, you know, 12 hours in a hut in Peru and, like, being visited by a spirit that is, like, making you, you know, face, like, your greatest, you know, fears, you know, that sort of seems, like, maybe not the thing that the average person should do. It'd be like you wouldn't be like, oh, I'm gonna go get an exorcism in Louisiana in the swamp, you know. It's, like, how different is that than, like,
Speaker 1:going to Peru. Yeah.
Speaker 2:It's, so if if a founder calls you up and says, hey, I'm gonna be offline for the next couple weeks. I'm going to Louisiana to get an exorcism. And it's, like, kind of in this hut swamp. It's gonna be really dark. It's with somebody I don't know.
Speaker 2:I'm paying them a lot of money. I'm not really sure what I'm getting in return. There's gonna be other strangers there that I don't know that are also dealing with their own traumas. You'd be like, hey, hey, bud. I feel like it's my duty to tell you to not do that.
Speaker 2:And then also if you somebody was describing, hey, I'm gonna go into the desert. This place called Black Rocks or is it it's Black Rocks
Speaker 1:Let's try it. Yeah. No. BlackRock is the investment front.
Speaker 2:BlackRock.
Speaker 1:I'm gonna go to I think it is BlackRock City.
Speaker 3:Yeah. Yeah.
Speaker 2:So I'm gonna go to Black
Speaker 1:Is it is it affiliated with Blackhawk?
Speaker 2:Oh, my God. We just put it together.
Speaker 1:BlackRock Rock City.
Speaker 2:Black Rock's shorting tech massively. Yeah. And they're and they've and they're funding the thing that's one shotting all the right technology.
Speaker 1:Is it actually called Black Rock City? That is ridiculous if that's what it's called. Black Rock City. Black Rock City.
Speaker 2:Yeah. It's the Playa. The Black oh, my God. Oh, my God.
Speaker 1:Well, now I gotta go. Black Rock's involved.
Speaker 2:BlackRock. I love BlackRock.
Speaker 1:Yeah. BlackRock is a phenomenal institution.
Speaker 2:No. But if somebody said I'm going to BlackRock City
Speaker 3:You think
Speaker 1:Larry Fink's ever been?
Speaker 3:And he's
Speaker 1:like, this is my city. He's the CEO of BlackRock.
Speaker 2:I bet he's dropped in.
Speaker 1:Yeah.
Speaker 2:He's flown in the p j and, like, landed, and he's like, I run this place.
Speaker 1:I run this place.
Speaker 2:I run this place. He harvest the energy. Like, what's the, like, the harkening mode where he's like in, like Yeah. He's in, like, a bathtub in BlackRock City, and he's just, like, fully locked into the energy of the playa, and he's just taking it, and then he goes back to New York. Yeah.
Speaker 2:He's like, I have what I need. He is. No. But but if somebody told you, hey, I'm gonna go to the desert with a bunch of people I don't know, all sort of western norms are thrown out the window. People are gonna be dressed up in, you know, lingerie or just naked, and then everybody's gonna do a bunch of drugs and have sex, you know, with strangers.
Speaker 2:You would say, hey, I don't know. Is, like, that the best use of your time? Have you done hard drugs like that before? Like, should you combine hard drugs and sex with random strangers? You'd be, like so
Speaker 1:I don't think everyone does everything there.
Speaker 2:Right. But, like, the people just
Speaker 1:go and DJ and stuff.
Speaker 2:Yeah. But let's let's be honest. Like, the people that are coming back being, like, dude, you got it. Those are the ones that have been, you know, occupied by the demons Sure. And are now are now trying to spread that.
Speaker 2:Right? Yeah. Yeah. So, anyways, I think, like, if you just say it out loud Yeah. It all makes sense why maybe the average person shouldn't do it and they should just, like, go to church or something.
Speaker 2:Yeah. You know? Yeah. Try
Speaker 3:try it.
Speaker 1:It's like the fork in the road meme. There's Black Rock City and then there's Black Rock HQ.
Speaker 2:Yeah.
Speaker 1:And you just wanna show up to Black Rock HQ. It's almost like grinding up the ladder.
Speaker 2:Yeah. Yeah. It's almost like you could go to the jungle and do hard drugs with the sketchy shaman, or you could just put on a suit. Right? And, like, would putting on the suit give you the real effect that you wanted, which is just, like, feeling good
Speaker 3:Yep.
Speaker 2:And just, like, looking good
Speaker 3:Yep.
Speaker 2:And just like doing good Yep. Probably. Right? Like you could go to Burning Man or you could just put on a suit Yeah. And just like hit the spreadsheets, you know?
Speaker 1:Hit the spreadsheets.
Speaker 2:It's like it's people that are like I don't tip male waiters. Like, hit the oil rig.
Speaker 1:I've never heard that. That's really funny.
Speaker 2:Or it's, like, dude, don't go to
Speaker 1:The oil
Speaker 2:It's, like, don't go to don't go to Black Rock City. Like, put on a suit and go to Black Rock. Go
Speaker 1:to Black Rock. Yeah. I can't believe we just realized that. I've heard about Burning Man for so many years and never put it together. Black Rock's behind everything.
Speaker 1:Oh my god. They own the entire economy, including the the burners apparently. Yeah. Well, speaking of, getting on the grind set, do you use a set of apps to build a second brain?
Speaker 2:Yeah. Yeah. This this this is, this is so it's the midway. So good.
Speaker 1:Right? Yeah. Yeah. Everyone everyone has this at the midway.
Speaker 2:So I will say I can't completely roast this because I use the Bear app, which is just like a notes app that I think is slightly better than notes. Yeah. But I do have just, like, a bunch of notes, and a lot of them get lost, and it's fine and like It
Speaker 1:is it is easy to, like, roast this because it's, like, kinda like this over optimized thing, but, like, it's totally reasonable to, like, have some organization in your life.
Speaker 2:Like Yeah. Yeah.
Speaker 1:Just, like, don't go crazy with it.
Speaker 2:It'd be like somebody, like, it'd be like a guy in Mad Men Yeah. Being like check it out all my filing cabinets, you know? Yeah. And he's like I use this one for, like, important, you know, documents and I use this one for, like, pictures of my family. Yeah.
Speaker 2:It's like
Speaker 1:Dude, I mean, there there's something where it's like I the problem is is that just, like, from the context here, just seeing this in the form of a tweet, like, I know that this person is, like, selling a course and, like, their, like, second brain is, like, their life, and this is all they do is, like, organized.
Speaker 2:Yeah. Yeah.
Speaker 1:And it's like this self referential thing where, like, they're in the business of organization, as opposed to what I really want to know is I want to know, like, what is Elon's version of this? What's Zuck's version of this? I just wanna know, like, what are the actual And
Speaker 2:I think it's I think
Speaker 1:BlackRock, like, what is hit on his phone?
Speaker 2:The high powered version of this is just, like, having really talented people around you that you delegate important things to. Yeah. Right? It's, like, the executive assistant. It's the driver.
Speaker 2:Yeah.
Speaker 1:It's the COO. It's really just one app. It's the phone. It's the It's the phone booking. You just call the person and they pick up because they know it's important.
Speaker 1:It's the
Speaker 2:COO that you've worked with for 20 years. Yeah. Exactly. That's like you're you're like, I'm not gonna do this deal if if this person's not involved.
Speaker 1:Yeah. I mean, yeah, at the high level I've I've always noticed that like the really the really big guys they always just like, oh, I'm like, oh, I have an app for that. They have a person.
Speaker 2:Yeah. Yeah.
Speaker 1:It's like I have DoorDash. They have a chef. Yeah. Right? It's like, oh, I have Zillow.
Speaker 1:They have a person that buys real estate for them. Yeah. Yeah. Yeah. Full time person that just goes around hunting for real estate deals.
Speaker 1:Yeah. Yeah. Yeah. Oh, like, you have, you know, the United app. They have a private jet with a pilot that they just
Speaker 2:call. Yeah. Yeah.
Speaker 1:And so it's just their phone book. It's like they wanna do something? Okay. Call the call the driver instead of Uber.
Speaker 2:Call the jet. I got, good advice from
Speaker 1:Maybe the billionaires aren't so
Speaker 2:similar. Yeah. Yeah. Exactly. Do you have an app?
Speaker 2:We have people.
Speaker 1:They still have access to, like, the same things. It's just, like, at a different level. But
Speaker 2:Yeah. I got really good advice from, like, one of the the GPs at Andreessen after they invested. Because I was, like, oh, we we raised a lot of money now. We, like, should be, like, we're like a real company. Yeah.
Speaker 2:And I was concerned because I'd never worked at a company the size of my company. Mhmm. So I had no, like, real, like, well, how should the meetings flow?
Speaker 1:Yeah. Yeah.
Speaker 2:When should we do meetings like this? And so I was asking him, I was, like, trying to figure out, like, what the ideal, like, meeting structure throughout a week was. And he was just, like, dude, just, like, build just build the product. Yeah. Like, just build
Speaker 1:Yeah.
Speaker 2:Like, sell the customers, build the product. Like, none of that stuff really matters until, like, you know, and and that's sort of, like, common Silicon Valley advice, but sometimes you need to hear it at the right time. And Yep. I would just ask, like, I would just, like, ask this guy, like, cool, like like, how much money did you make in the last 60 days, not from selling courses on your 2nd brain. Yeah.
Speaker 2:Yeah. You know? And if the answer is, like, 0, then it's, like, okay. This is just, like
Speaker 1:Yeah.
Speaker 2:You're a course bro.
Speaker 1:Yeah. Yeah. The the the the course bro definition is always quantitative. It's did you make more money from content? I remember watching somebody who's doing real estate content, like, how to invest in real estate.
Speaker 1:And he was like, I made $3,000,000 and I'm a real estate guy in LA. I made $3,000,000 last year. And his breakdown was he made 50 k as a real estate broker and $2,950,000 as a YouTuber. Isn't that crazy?
Speaker 2:That's amazing.
Speaker 1:I put this this was in, like, a CNBC, like, published, like, they broke down all of how how he makes it. And I was, like, this is hilarious and ridiculous.
Speaker 2:Seems like the only person that would ever, like, make content like that Yeah. That actually makes money from business is like Alex Hormozi.
Speaker 1:Oh, yeah.
Speaker 2:Where he's like, here's how I, like, run my day. But then he's actually, like, owns a bunch of, like, profitable businesses.
Speaker 1:What else should we talk about? Light bulbs. Probably gonna wrap up soon.
Speaker 2:Oh, I wanted to I wanted to do
Speaker 1:this, I wanted to do this investment memos versus decks. I thought this would be a good q and a. You're a big deck guy. Investment memos are trending. This, this tweet from Mercedes Benz says, I'm seeing more founders put together investment memos as fundraising material.
Speaker 1:It's a good idea, But too many of them read like book report summaries. Founders, if you're gonna write a memo, make sure it reads like a thesis, how you develop your thesis, your unique vision for the future, assumptions you make that could be tested, risk to your thesis, etcetera. So what what's your take on on, investment memos versus deck?
Speaker 2:Huge mistake to go into a round with no deck Mhmm. Because the visuals are so important to the storytelling that if you just have this, like, text and, like, you know, 20 paragraphs in a row, it's just, like, so boring. Because if you have one one image where people's eyes gonna go to, I think people don't realize, like, I'm not reading your memo. I'm not reading your master's thesis on your business before I've even met you. Yeah.
Speaker 2:Because it doesn't matter if it's a good thesis. Yeah. If I have a 5, 10 minute conversation with this person and the person sucks, I'm not gonna nothing's gonna happen. Right. Like, that happens all the time with investors where it's, like, the right idea and the wrong team and you can't invest.
Speaker 1:Yep.
Speaker 2:And so I think that the reason to write a memo, and this is this is the core reason to write a memo, is to give the investors something that they can copy and paste and to make their own memo.
Speaker 1:Sure.
Speaker 2:So write it as though they're writing it to their investment committee, their partner meeting, whatever the thing that they're gonna share around.
Speaker 1:Same thing for press releases. If you do the journalist's job by giving them an interesting story, giving them interesting quotes Give
Speaker 2:them the angles.
Speaker 1:Give them the photos, give them the stuff,
Speaker 2:like,
Speaker 1:make it easy for them, then they will be more likely to write it.
Speaker 2:But I think, like, I I really think people are doing it on hard mode if they're Just Almost all products are visual, whether it's software, hardware Yep. I some IRL thing, huge visual component and, like, it doesn't give the visuals enough credit.
Speaker 1:There are also some VCs that just, like, demand a deck every time. And so it's, like, why would you just pitch a subset of VCs by being hard on, like, oh, I don't need to.
Speaker 2:Yeah. Well, I don't think any legitimate VC is saying I won't talk. Keith. I want Keith
Speaker 1:Keith or what?
Speaker 2:Demands deck.
Speaker 1:I I I'm pretty sure he I'm pretty sure he like, generally, he won't But
Speaker 2:he will also he won't
Speaker 1:take a meeting unless he He will
Speaker 2:also invest
Speaker 1:he sees a deck.
Speaker 2:No. He'll also invest 20,000,000 into somebody he knows really well without True. Any material, you know.
Speaker 1:Yeah.
Speaker 2:So, yeah. I just think, like, that debate always comes up and one is not. They just have, like, very different use cases. I also
Speaker 1:In fact, building the memo can often, like, just lead to the deck being stronger when you build it. Right?
Speaker 2:Totally. Totally. But, yeah, it's just, like, not one or the other. I think the I think the right combination that feels a little bit less, like, try hard almost Yeah. Because sometimes when somebody's, like, writing some, like, super extensive memo, you're, like, you should be, like, doing, like, something else, like, your seed stage, your pre seed company.
Speaker 2:Like, you don't know any of this. Yeah. But, like, FAQs, I think, work really well where it's, like, you basically create, like, what are the 10 most common questions that somebody asks? How are you different than x y z competitor?
Speaker 1:Yep. Yep.
Speaker 2:And you just answer all those, and then as you get more questions and you raise, you just add them to the list. Sure. And then by the end, you have this like document that you can just share with everybody. Yep. And then that like, again, is helping them do their jobs.
Speaker 2:So, they're at their investment, their partner like meeting Yeah. Talking about it, and somebody's like, well, we looked at this company and they're doing great. How is it different? And they're like, well, here's how it's different.
Speaker 1:Yep.
Speaker 2:So you're just like making the job easier for your potential investor who, if if they invest, will become your partner. So you're already, like, should be acting like you're on the team.
Speaker 1:Yep.
Speaker 2:So that's that's how I would advise people to approach it.
Speaker 1:I like that. That's a good place to close it out.