Limitless: An AI Podcast - Understanding The Past Year in AI: 200th Episode Special!

Episode Date: July 8, 2026

🌌 LIMITLESS HQ ⬇️NEWSLETTER:    https://limitlessft.substack.com/FOLLOW ON X:   https://x.com/LimitlessFTSPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQAPPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890RSS FEED:           https://limitlessft.substack.com/------In our 200th episode, we review nearly 200 transcripts to identify recurring themes and track how the AI landscape has changed over the past 14 months. Focusing on compute and memory as key AI investment themes, we revisit companies featured on the show and discuss future topics like specialized AI applications, local models, and space-based model training.------TIMESTAMPS0:00 200th Episode Victory Lap1:49 Early Bets Proven Right3:44 Memory and Chip Windfalls4:59 The Cursor Thesis Pays Off5:34 Limitless Portfolio Returns7:46 Where the AI Puck Goes9:32 Trends Rising and Fading12:57 Google’s AI Comeback13:47 New Frontiers in AI15:32 Space, Science, and Specialized AI17:47 Turning Intelligence Into Value20:15 Local Models and New Devices22:45 Recursive AI and Geopolitics24:56 Optimism for the Next 200------RESOURCESJosh: https://x.com/JoshKaleEjaaz: https://x.com/cryptopunk7213------Not financial or tax advice. See our investment disclosures here:https://www.bankless.com/disclosures⁠Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Welcome officially to our 200 episode. 1.4 million words has been spoken by us and 99.9% of it has been Josh and I arguing about who has the most compute, who has the better AI model, or which is the best AI company to invest it. Now, before we started this episode, we did something a little dangerous. We gave Claude and ChatGBTGPT access to our entire 200 transcriptions for all of our episodes, and we got it to identify any hidden investment themes in AI that we might potentially potentially have missed all our favorite quotes and bets that we've made over the last year, as well as where the AI puck is going. This is going to be a jam-packed episode of information

that we ourselves didn't know but cold and chat GPT helped us figure out. It's pretty cool. We gave our entire episode database to this model and said like, hey, kind of roast us, come up with some themes, come up with some trends. And just to backtrack a little bit of the world 14 months ago, when we first hit record on the first episode and how much has changed, I mean, at that time, SpaceX was private. They were worth $350 billion. Now, they're public worth over $2 trillion. Anthropic was worth $61 billion. Now they're worth roughly a trillion. I mean, the multiples on these companies are huge. This is when OpenAI was worth only $300 billion. ChatGPT had about half a billion users. That has since tripled and doubled. And the models, the funniest thing is the models.

GPT4O is the flagship model. We had Clod 3.7 and Gemini 2.5. And then most surprisingly, everything was coded by hand. At the time of first recording the first episode, nearly all code written around us that created all the software in the world was written by hand. The inverse is true. So so much stuff has happened over the last 14 months. It's kind of hard to wrap your head around, but that's what we're going to do now, is we're going to cover retroactively the things that have happened over the last year, and then proactively where things are going based on all of the trends that we've evaluated over the last 14 months. So firstly, I want us to take a victory lap on the bets or predictions that we made early on in our career, back all the way back in 2025, that ended up becoming true,

both from an investment perspective and as a general trend playing out in the AI market. And then what we're going to get into is what that investment portfolio would have looked like if Limelis had hundreds of millions of dollars and we could have invested in some of these companies to start off with. So Josh, if you remember, week number four, June 5th of 2025, we said verbatim, compute is now a matter of national security. Whoever owns the watts, the chips, the energy, the cooling owns the economic rents. The point that we were making back then was essentially compute is king.

Whoever owns the GPUs, whoever can power them, will build the best model. Now, fast forward 200 episodes later, this is more true than ever. Anthropics has signed, I think, four new compute deals over the last couple of months. You've got open air expanding aggressively. That big bet on acquiring as much computer as they can has turned out to be really, really good. They're not putting any kind of restrictions or limits on. any users for any of their models. And it has become the key thing that is serving this thing called inference,

which is helping people become smarter, run their AI agents 24-7. Computers King. That was one of our first bets that we made. You know what? I just looked up is at the time that we said that, Sandisk is up 3,500%. Let's go. Some crazy, outrageous number. But yeah, it was so true.

It was really early and true. And I think that's still the case. And if you told the people from June 2025 that the federal government was going to be invested in these companies like, Intel that the amount of runups were going to be this large, like 35 times your money. Well, certainly we would have invested, but we also would have been pretty surprised at how important this race to compute is. The most scarce resource in the world right now is this energy to power on these GPUs and

to get memory for them. And to notice that early was amazing. I wish we acted on that. Yeah, I know. The other asymmetric bet that we made was on AI chips specifically memory. Now, Josh, if you remember, we had a predictions episode. at the end of last year. And we had this kind of general thesis,

which is memory is quite expensive. It's a large component of the whole entire AI thing. You need to power the GPUs. You need to remember everything that you have in your conversation with ChatGBT and Claude. This will probably end up going up higher in terms of pricing, which means that the memory stocks themselves

will probably perform very well. Since then, guess what the average return has been on the top three memory manufacturers? Just have a guess. A gazillion dollars? Like, it's infinite. It must be the single best investment that you could have made in the last year. It's not gazillion, but it's pretty close.

It was 153%. If you'd bought Micro by the end of last year, you'd be up around 180%. If you had bought SK Heinex, if you were in Korea, if you had access to Samsung as well, SKHennax has become the most valuable company in Korea. It's eclips Samsung, who's been kind of like the monopoly for the entire last couple of decades. So it's very, very impressive. Samsung just became the most profitable company in the world over NVIDIA. Oh, yes.

I saw that. I saw that. So it's crazy. There's this all-out war and this race to the top. And these companies are just like continuing to topple each other over and over and over again. Okay. So if it's not investments, Josh, I want us to kind of like have like a thesis call that we, that we kind of nailed. Now, in March 20, 20, 20, so not too long ago, we said this might be a really asymmetric bet, but I wish I could buy open AI stock right now because there's a company that could sit on top of that. And it's called cursor. What's happened since then to that, that little. That's so nuts. Three months later, that same company got purchased by SpaceX for $60 billion. My God, should we just like, we need to start running a fund or a company or something. Does anyone want to like invest with us? If we just invested the money that we had into these stocks, we probably would have had a pretty sizable portfolio to begin with. But there is a really exciting segment that I want

to get into now that I have been waiting for so long to talk about, which is the limitless portfolio. If those of you, for those of you who've been around for a very long time, you know that in the early days of Limitlis, we actually recorded a lot of interviews. We had on guests on the show who were building really cool frontier technology. And those were very particularly selected. We were excited about a few specific companies, those companies who reached out to, got the CEOs, the founders on the show. And if we took all those companies and we put money in them on the day that we recorded with those founders, today, the total return on that investment would have been about 4x in just over a year, which I think is really noteworthy. They would have taken a 13x multiple

on our best perform, which is Valor Atomics. If we go back to episode 10, we had the CEO of Valoratomics Isaiah Taylor. For those who haven't watched, we actually reposted it because it was so good. And I would recommend checking it out because he was the person who's responsible for building small modular nuclear reactors. The obvious flaw here was that data centers don't have enough energy and his plan was to solve it. We had them on just after their seed round, and now they are valued at $2 billion, a $13x multiple. Same thing happened with OpenRowder and the founder, Alex Atala. Atta, at the time, they were half a billion dollars. Now they were, They are 1.3. Same thing with Zipline. Dron delivery, that was a really cool one, where they were

showing early prototypes of what the drone delivery system looks like. And now it's actually being used in a lot of major cities. Same with perplexity, at 1.2. And then Boom Supersonic is the one anomaly. They're the company that was making supersonic airplanes, if you remember. They've actually pivoted to making supersonic airplanes, but now they're also making gas turbines for these AI data center. So I thought this is really cool to see how large of a return we've had on some of the guests that we've had on the show. And if we just invested the limitless fund on day one of having all these people on, we would have returned about 4x in the last year. And that's only with private market valuations. Unfortunately, none of these are public, but all pretty interesting investment

opportunities. Yeah, I think it's amazing to think about like a 400% return relative to like the average market, which has got up pretty insanely, but that would have been lovely to get access to. I would have taken that. I would have taken it. I think another thing that this theoretical portfolio shows us is the key trends that have developed over the last year. And I want to spend a moment to describe them very quickly because I think it shows us where the puck is going in AI and from an investment perspective and from just a general trend and model usage perspective going forward. So with VALA Atomics, it's an energy thing, right? So you have all these GPUs, you have all these expensive data centers, but we can't quite get the power to get access to

a bunch of these different things. Nuclear is incredibly important facet of energy. that will kind of like feed into a bunch of these things and eventually bring or run and operate a bunch of these things online. Now, on OpenRouter specifically, we've covered this thesis a few times, which is we have all these different models. I don't think a company is going to get married to one particular model. I think they're going to use multiple models for multiple different things,

use cases, etc. That's the whole point around the cursor thesis. That's why SpaceX acquired them for $60 billion. OpenRouter is pretty much the next best bet. They launch or stealth launch models, before they actually become official. They've done it with Claude. They've done it with chat GPT

and they've done it with a bunch of Chinese models. And developers can get unreletless access to all these types of models and use it for whatever that they want. Now, a key bit of data that they aggregate is intense and they can use this intense to figure out what better models to build. Perplexity has absolutely nailed it.

Like, look at this. I know it isn't the biggest multiple bet jump, but like $18 billion to $21 billion. This is primarily because Samsung has made their product, the primary AI agent on all of their phones going forward. It's just, you know, it's not just a portfolio return that we're talking about here. There's some major trends that have been developing that are feeding into what we might expect for an investment perspective going forwards. So over the last 14 months, the trends have changed

pretty considerably as well. Things that we mentioned a lot now mostly no longer exist. And these turning tides are interesting to see visualized here. One of the things that we mentioned a lot in 2025 was superintelligence. That's now down, what is that, 90%. We mentioned it just a about 60 times last year. We've mentioned it six this year. And this is about accurate because we recorded for about six months last year, about six months this year. So it's right down the middle. The biggest loser also is crypto, which we've mentioned basically zero, because, you know, it's in a bit of a winter right now, not doing super hot. Robotics, surprisingly, has gone down 60% year over year, as well as AGI going down 54%. So I think a lot of those broad sweeping

terms we mention less probably because it feels like it's just close to being here. And the lines have gotten so fuzzy that we're not actually sure what to even define as AGI, what to define as superintelligence. Like you look at these new mythos class models, you're like, I don't know, that kind of looks like AGI to me. But the robotics part has been interesting to me, at least, because it seems like we are in this, like, kind of weird middle ground of robotics where a lot of companies are building them, but they haven't quite launched what they're building just yet. We have the new Optimus Robot that's coming. It hasn't been revealed. Figure has been working on their new robot, hasn't quite been revealed. Everyone's working behind the scenes, and I assume those big reveals are

coming sometime later this year. And when that happens, we'll probably have this big resurgence of robotics. But I found that really interesting. Another really interesting one was the word anthropic. Oh my God, what a year that company has had. Last year, we mentioned them, I think one-fourth the amount that we did of Open AI and Chash CBT. This year, it's gone up 4x. We mentioned that company four times more. And it's probably because, I mean, a year ago, things weren't looking super hot. I remember we were looking at Claude. This was like early opus, like 3.7 days. And we were like, yeah, it's. It's not that great.

Like, chat GPT just rocks. It has a really awesome consumer application. And my God, did this company turn around this year? It has now flipped OpenAI in terms of mentions on the show with 806 to 758, which is cool. I love that we get this granular ability to see all this stuff using, ironically, Claude. These things move so quickly. Remember, Claude Code is only, I think it's just over a year old, which is mind-blowing. Because at the end of the last year, barely anyone to use ClaudeCode, and now everyone uses it.

There's also a lot of the few key trends that I've noticed have risen in the last couple of months. We're speaking about IPOs quite a bit on this show. We're talking about memory quite a bit. And it's unsurprising at this point because we have probably the biggest year for net new IPOs. We had SpaceX. We're expecting Atropic and Open AI potentially by the end of this year. And then, of course, the memory companies, as we mentioned earlier, have been absolutely killing it. They're on 80% margins at this point.

Samsung just had a blowout quarter as well. you mentioned earlier being more profitable than Ambidia. So a lot of these general themes are replacing some of the more vague themes that we had earlier. So AGI superintelligence, we don't quite know what that means. When we talk about robotics, I think if I had to bet going forwards, that's going to flip over the next couple of months because we have a bunch of new US-based robotic startups that are starting to sell their hardware to a bunch of different people going forwards. And then the anthropic flip is kind of expected.

I think you and I use Claude pretty religiously at this point. I haven't used GPT for a while, rumored to be releasing GPD 5.6 sold to the wider public, potentially today. If you're listening to this, you might already have access to it. Could be pretty cool. But I think one of the most interesting charts is this one that I'm showing on the screen here, which is the company, the AI company specifically, the model lab that we have mentioned the most over the last 200 episodes. And it's surprisingly not open AI. It's not anthropic, but it's Google. Do you remember Google? Google is that company.

Yeah, I remember our obsession with Google. Yeah, yeah. It's this company that's kind of been around for a while. They dominate the search engine space. And they kind of are the only company that has a verticalized stack in AI. They create their own version of GPUs called TPUs. They have applications to disperse their AI models, and they have their most famous AI model called Gemini.

But Google's kind of fallen off since then. And I wonder if we see the flipping thing soon with either Open AI or Anthropic. I mean, I think those numbers are a little tweaked. because we were obsessed with Google for a few months, and rightfully so, they had some unbelievable product velocity. They were releasing things seemingly every single week, and they're all pretty hit features. That has since changed, and yeah, like you mentioned, I think we certainly have this flip happening where really the two main players in the space right now are open AI and Anthropic, and that seems like it's going to be that way for the

foreseeable future. Perhaps we get a comeback player of the year with GROC. We'll see. I know that the SpaceXAI team, which is now fully rebranded, is working very hard to make this happen. in terms of this momentum map, it's pretty interesting to see that we kind of have these new emerging sectors that we haven't quite discussed just yet, one of them being quantum. Quantum seems to be the next lane according to things that we've said and according to the chat of being the new thing that we're maximally excited about, things like drug discovery, biology, memory, IPOs, bubbles, those are all things that are very much accelerating. The contrarian corner, which I'm not sure I agree with this totally, has energy inside of it.

I think energy is certainly accelerating as well. Energy is, as always, the single bottleneck. And even in the absence of AI acceleration, energy is still the constraint to pretty much everything that we do. But noteworthy in the cooling sector, we have Open AI there, which I was like a little disappointed to see. I'm like, man, what do you mean opening ice cooling? But then I think about the last couple months, it's been a little bit slow in Open AI land. They have these three new models, which they've been waiting to release. I know the company is taking their summer break this week.

They haven't quite gotten it out. The government has been putting holds on it. the application hasn't quite gotten much better. I know kind of after Codex for me, OpenAI has kind of fallen flat in terms of their new feature releases. So you have to assume they're cooking up a lot of stuff. But within the last month or two, which seems like the last year or two, they have been moving a little bit slower than I think we would have liked. And I hope that they'll be able to turn that around pretty soon.

Yeah, if I had to identify three themes that have become more apparent over the last couple of months that I think are important to keep an eye on going forwards, One is the increasing use of outer space to train models. Now, I remember the first time we mentioned StarClaude, which is this small startup that came out of Wight Combinator, and they launched a bunch of GPUs into space, and they started training models off of an H-100 set of GPUs from MVIDIA. Fast forward now, it's SpaceX's AI's entire thesis

that they're going to launch all these satellites out there and train models, presumably GROC and many others, going forwards. This has become an increasingly strong theme that I think will play out more and more over the next couple of years. I think SpaceX is going to be the one to lead it. The second thing is applications of these AI models into niche categories. Now, I think one thing that has become apparent to me is generalize LLMs are amazing. They're great chatbots, but when applied to specific niche sectors where you kind of need some expert knowledge, they aren't that very good. So when you look at Anthropic and Open AI over the last couple of months, they've started their own joint ventures. They've raised billions of

to place their engineers in these companies and figure out the best solutions to build. I think the two sectors that are going to be focused on going forward is finance. And you mentioned earlier, the drug discovery, biology, science accelerated side of things. And I think we're going to see a bunch of really cool products and features being released over the next six months or until the rest of the year. You've got Anthropic that's already released Claude Science. You've got Open AI that's already released their gene benchmark. I think Open AI is the one that has bought and operating. retro science labs, which is working on a bunch of different cures. You've got Google that has

their alpha fold model that is genetically sequencing a bunch of different molecules and creating new kind of drugs. I am really excited personally about this because I have a bit of a science background and I think that applying these models in ways that can really change human impact, not necessarily for people who are using these models, are going to be huge. I'm like stoked for bio and life sciences and all that improvement. I think we are like very close to getting whatever AGI for science looks like very soon. I think that is going to be a huge category that we're going to see a lot of progress. You see all these labs working towards that. The thing I'm most excited about seeing is how we actually implement all of this intelligence. I think there is this asymmetry happening right now

where a few companies are creating an unbelievably capable set of tools that are amazing and powerful. And the world now has to figure out how to extract value from them in their own ways. So when I look at the next 200 episodes, the thing I will be most closely watching is how the world's actually able to extract value from this new form of intelligence that we've created. Because there is this asymmetry where people are really afraid of job loss and people are really afraid of margins getting affected. And the reality is that most people, most companies haven't actually implemented this at all, if anything. Like the real broad sweeping effects of this across the world have been so small on a relative basis to how powerful they've gotten. that I think this dispersion over the next 200 episodes, maybe 14 months, or I're actually going quicker now. So maybe it'll take like 10 to 11 months to get the next 200 episodes.

But the dispersion of this intelligence into day-to-day devices, into day-to-day companies, kind of reimagining what the average role at a company looks like using these new tools. That's what I'm particularly excited about. And then second to that is this energy problem, man. Whoever is going to solve this energy problem who's ever going to be able to build and create more energy is going to be one of the most. powerful companies on Earth. We just have such a shortage of it, regardless of AI. So I think when I think about whether or not we're in a bubble or where we are in the market cycle, I think those two things are

kind of separate from whether or not memory stocks continues to go up, from whether or not Nvidia continues to make better chips. It's how do we take what we have today and disperse it effectively throughout the world? And then how do we power all this new technology that we are working on creating? And those two problems are the ones that I am most excited about. I'm most bullish on. I am, I guess, most interested in and considering. Like when I think about this, the implementation of it, that comes in the form of robots. We have Adams, the new company from Travis Kalanick, who is fully all in on getting precious metals, turning those precious metals into robots that are narrow use case and then using those robots to distribute materials throughout the world. That is so

cool. We have Tesla in the Optimus Robot program, who's focused on building humanoid robots as a form factor and doing that at a scale that we saw for the Model 3 and Model Y, which is now the most popular and highest sold car in the world. So companies that are working on this, I am maximally bullish on and maximally excited about. And I think, yeah, over the next year, those are the things that I am very excited in looking out for. Yeah, the magic is already here. It just hasn't been distributed well enough at this point.

When I think about key trends that are really tiny right now, but are going to play out over the next, let's call it over the next 100 episodes, maybe not 200, too ambitious. I don't know if I can predict that far ahead. I think open source models, or let me correct myself, locally run models on edge compute, smaller models that are hyper optimized to serve you or a particular use case are going to become way, way, way more abundant. And we're seeing some

prime evidence of this happening right now. We've seen big companies like Uber and the likes of meta cut back on their AI token spending and usage. Why? Because it's quite expensive to use frontier models right now. Fable 5, we were talking about it before we started the show, is $10 in and $50 out per million token input and outputs. And that's expensive if you are burning through millions and millions and millions of these tokens every single week. I think people are going to opt for more locally run models, whether these are Chinese open source models, whether they're American open source models, or in Apple's case, they kind of train and fine-tune their own models that they want on their own local hardware. I think we're going to see an acceleration and push towards new types of devices.

We're talking about Open AI, releasing new devices by the end of the year. We know Apple's working on that. We know a bunch of other companies are working on their own versions of land. or whether that might be a pendant that sits on your chest or whatever that might be. And I think we're going to have a hyper-optimized world around smaller models and hardware that listens and sees and hears everything that you do and see. And the point of all of this is personal AI agents, which brings me to my second point, which is, I think we're going to see a lot of people prompting less and relying on AI to do the thing for them and figure out the the problem for them. There's this theme that we've spoken about a number of times over the last

couple of months, which is RSI, recursive self-improvement. This is basically when an AI model is smart enough to know how to build the next version of itself. Now, this is a really hard problem to crack, but a bunch of really intelligent people have predicted that this is probably going to come at the start of 2027, which is not too long away from here. In the event that we have that, that could assume that AI models can basically run 24-7 and do work for you whilst you sleep or work on any of your problems, whatever that might be. And I think in that world, we are going to increasingly rely on this AI to know more about us, share more personal data with them. And it's kind of a concern that I have, I guess, which is like, we're putting all our brainpower into these AI

agents and these AI models. I wonder how that kind of like maps out going forwards. We don't know. And then the third final trend that I think is going to play out is I think China's going to close source a bunch of their models coming soon. There was news that broke this morning that the Chinese government has ordered a bunch of their AI labs to basically cut off access, basically their version of export controls because they don't want the West or Americans in particular to get access to their models. And so they might move to pricing

or they might just go completely private. I don't think this is for the benefit of the world, but it has increasingly become a geopolitical risk that I think will end up playing out at least over the next six to 12 months. The uncertainty is that the world's 100 episodes from now will look absolutely nothing like that today, at least as it relates to the world of AI,

because we are on this accelerating curve. And I think one of the things that we mentioned early on, we even had the guests on the show who wrote it was the AGII 2027 paper where it kind of projected the trajectories and timelines of how fast things were going to go. And so far, to their credit, a lot of that has actually happened in 100 episodes from now brings us to the middle of 2027. And thinking about life in 27, a year from now, like you talk about local models, we're going to be running mythos class models on our cell phones. And like what are the downturn implications of that? What does the world look like when you truly have that amount of intelligence available at your fingertips on a mobile device? Does it matter that China is close source because the models will be so powerful that most

people don't actually need the upper echelon in order to accomplish their day-to-day tasks? And it's funny, as we're doing these episodes, it feels like because we're living in it, it doesn't progress that fast. But looking back at episode one to now, like, oh, my God, the world is so different. And looking forward, now that we are aware that we do have the idea of, like, recursive self-improvement that things can actually get perpetually better. And as they improve, they continue to improve themselves. And we get this machine that creates this vertical line of trajectory.

I think it's going to look pretty weird. And I hope that we're able to convert that into something useful. It's like, okay, we have all this intelligence. What do we do with it? How can we actually implement it throughout the world? What types of robotic figures can we put that into? What types of companies can we build because of it? How can you empower employees to do amazing things with it?

It's like, these are the questions that I'm really excited to answer and to find the companies who are doing the best at answering those questions in particular. And then the companies, I'm thinking about etched. I'm like, oh my God, if they can create the same amount of tokens for a tenth of the cost, like, what impact does that have on the world? So there's a lot of really fun and crazy and exciting things coming down the pipe. And we are going to continue along publishing four times a week. We've been cooking. And yeah, I think that's mostly the episode here is episode 200, dude. What a journey. It's been. That's a lot of times click and record. We were we were mere young.

and start of this, Josh. We were doing two to three episodes a week. We were still learning about a lot of the concepts that we speak about quite frequently on the show today. We'll come a long way, dude. And I'm feeling pretty optimistic. And I guess that's the final point that I want to mention is I'm unbearably optimistic about what the future is. In fact, I have a stat for you that I could share up here, which is the amount of times we have mentioned bullish over the last 200 episodes, 192 times versus Barish, just 68. So the point is, Josh and myself are incredibly optimistic about the future. I personally think that AI tools right now, no matter how scary, intelligent they get, is going to result in an abundance or an explosion of advancements in GDP,

in advancements in science, and new cures. And the best part is, I think it isn't going to be age-gapped. I think you could be a 24-year-old that drops out of Harvard and builds the most amazing chip that competes directly with Ambidia. Or you could be someone that is just learning AP science at school. And you might use a model because you have a certain idea and you discover something that NASA ends up sponsoring. That is exactly what happened to their current intern

that is working there right now. So there's going to be an abundance and explosion of intelligence that is available to anyone and everyone that can get access to these bottles. And I think whether it's open source, whether it's private, whether it's a $20 a month membership, you will be able to participate

in this optimistic, future and I'm very, very excited about that potential fact. You can't just scroll to the section and not go through the rest. Bullish versus bearish index 2.8 to 1. That's so funny. The absolutely insane index, EJAS has captured 23 of 28 mentions. It is insane. It has a subsection. It says ownership established beyond statistical doubt. And then for the exponential, I have captured 48 of those exponentials to 28. It says the house physicist has a favorite curve, which is pretty good. then this is the set that I'm calling the Waffle Index, and it's 38.9 versus 27.9 hours talks. It says nearly identical turn counts. One host turns around 40% longer. The database knows who.

He just, I think we know who. Who might that be? I don't know. I don't really talk that much, but yeah, no, I don't take up the mic space that much, I guess. I'd like to think, listen, it's value. It's as much value as I can. And also, it's like my own. I just like that we could quantify it now. Exactly. My own recursive self. learning process that I have to subject all the lessons to it. What a journey. What a freaking journey. So that's 200 episodes in the books. For anyone who's been here, even like for the last 50, thank you. For the ones who've been here since day one, for the ones who have come over and joined us and been along the journey to support us, like, thank you. This is pretty crazy. The podcast

mostly started as an accident. David from Bankless, he was like, hey, do you want to like do your own podcast? And I was like, yeah, I guess so. And I said that. And then I went away on a vacation for a week and I came back and we had a podcast and I was like okay I guess we're doing this and we did it and people really supported and they enjoyed it and I think we've done some pretty amazing work so far so thank you to everyone who's been a part of the journey it's really been special um like when I look back on everything I'll be like wow that was a really cool part of of life that we got to do and creating this amazing show and it still feels very early days there's so much left to cover there's so much momentum still happening there's so many special

things worth talking about in the world of AI, but also just on the frontier of technology, which is originally the idea of limitless. It's like this is exploring the frontier of all the things. AI continues to be that hottest thing, but there's so much more coming down the line downstream of AI that I'm very excited to talk about and cover. So that is, that's the journey. That's 200. For the real ones still listening, for the real ones who have been watching forever, like, oh my God, your absolute legends. Thank you so much for being here. It's like the only reason why this is possible. The only reason why we've been able to do this for so long is because all of you showing love and support every single episode. So sincerely, thank you so much for all of the support over

this time. Thank you guys. And if you are listening to us right now and you aren't subscribed, or if you haven't commented or if you haven't given us a thumbs up ever, try it out today. What better day to do it than on our 200th episode. It would be awesome to hear from you guys. We got to talk about like our stats too. It's like, guys, we're a top 30 podcast in the world in technology. Like, this isn't just to look like, we're actually, we're writing high. Open up the charts right now. Yeah, the boys are cooking.

So I think that's noteworthy too is like, not only have we done it for 200 episodes, but you have given us enough support to put us on the top of the charts, which is freaking awesome. So that is really exciting. That is really reassuring. All good things to come. Any final parting thoughts before we wrap this up? Get ready for 20.

Thank you guys for joining us on this journey. And we will be here, hopefully, for the next 200. We are excited to bring you all the news and insights and trends that we can possibly fathom, even though I speak 40% longer. It'll be worth it. And we're excited to see you very soon. We'll see you on the next episode. Cheers to 200 more.

Two on. Cheers to 200 more. See you guys.