TBPN - AI Isn’t Covid, FBI probes Tai Lopez, Mistral’s $2B Sweden bet | Diet TBPN

Episode Date: February 12, 2026

Diet TBPN delivers the best of today’s TBPN episode in 30 minutes. TBPN is a live tech talk show hosted by John Coogan and Jordi Hays, streaming weekdays 11–2 PT on X and YouTube, with each episode posted to podcast platforms right after.Described by The New York Times as “Silicon Valley’s newest obsession,” the show has recently featured Mark Zuckerberg, Sam Altman, Mark Cuban, and Satya Nadella.TBPN is made possible by:Ramp - https://Ramp.comAppLovin - https://axon.aiCisco - https://www.cisco.comCognition - https://cognition.aiConsole - https://console.comCrowdStrike - https://crowdstrike.comElevenLabs - https://elevenlabs.ioFigma - https://figma.comFin - https://fin.aiGemini - https://gemini.google.comGraphite - https://graphite.comGusto - https://gusto.com/tbpnKalshi - https://kalshi.comLabelbox - https://labelbox.comLambda - https://lambda.aiLinear - https://linear.appMongoDB - https://mongodb.comNYSE - https://nyse.comOkta - https://www.okta.comPhantom - https://phantom.com/cashPlaid - https://plaid.comPublic - https://public.comRailway - https://railway.comRestream - https://restream.ioSentry - https://sentry.ioShopify - https://shopify.com/tbpnTurbopuffer - https://turbopuffer.comVanta - https://vanta.comVibe - https://vibe.coFollow TBPN: https://TBPN.comhttps://x.com/tbpnhttps://open.spotify.com/show/2L6WMqY3GUPCGBD0dX6p00?si=674252d53acf4231https://podcasts.apple.com/us/podcast/technology-brothers/id1772360235https://www.youtube.com/@TBPNLive

Is something big happening? This is the big question. I think it's a good essay. I don't love the COVID comparison for a few reasons. It's good. It's good in the macro, but I think when you dig into, you know, how much is AI and fast takeoff in the advancement of these models really like COVID? I have trouble with that analogy in particular. So back in February of 2020, everyone in tech was aware of how quickly a virus could compound because everyone in tech had followed exponential curves. We all knew Moore's law. There's that funny quote, the most powerful force in the universe's compound interest. But everyone in tech is obsessed with exponential growth, exponential charts, you know, everything

is about exponential. So seeing an exponential curve and maybe studying math or something like that just made people much more aware that if COVID got out of control and wasn't contained, you would just see rapid, rapid explosion in the number of cases. And that, of course, held for most of COVID, but it wasn't a true exponential. And I've said this before. There are very few true exponentials in the real world because, of course, things cap out. They turn into logistic curves.

So instead of going up into the right indefinitely, they go up into the right, and then they plateau. Now, will AI plateau? There's been a series of plateaus. There's been a series of S curves. That's the story of technology. Really, as you zoom out, you see smooth exponential growth. But in the moment, you see a number of S curves. You see the desktop, the mainframe, then mobile, then the internet, and cloud.

You see these different curves. AI is certainly one of those. You could put LLMs, reasoning, agents, a whole bunch of technologies that have, if they didn't happen, there would have been a plateau, but then we get the next thing. The math around the COVID exponential always bothered me because it was exponential growth for a while. But you can't keep growing indefinitely exponentially because there's only 8 billion people on earth something like a billion people got reported COVID cases But you just can't a hundred X from there like it's impossible. There's not a hundred billion people to have in fact so eventually the growth rate has to slow down back to AI If you model the Power of artificial intelligence just purely as a function of energy

We have plenty of room for for exponential growth. We're truly very far away humanity is around 13 orders of magnitude away from Kardashev type 2 like full Dyson sphere capturing 100% of the energy that's produced by the Sun even just in terms of how much energy we're using on AI that we have the power that we generate on Earth we're less than 1%. So we can grow that significantly and that's why it feels exponential now, but there will be a whole bunch of bottlenecks all over the place. It takes time to adjust. There are certain industries that are sticky and so I like the framing of you know it's time to to your friends outside of the tech world about AI, but it doesn't feel exactly like COVID because COVID affected people, you know, older people, people who were not online reading Bologi,

Srinivasa's post about COVID, studying the exponentials, modeling the R-Nauts. So it was very advantageous to go to people who were not aware of what was coming and telling them like, hey, like you are going to need to stay inside for a little bit because it's going to get rough out there. You have an extremely fast. And a lot of people when they think about AI, they have very antiquated views. They still think, like, oh, the images of six fingers. And they don't notice that they just watched five AI generated reels that they couldn't detect. Or they talk about hallucinated facts and LLM responses, something that's basically been solved by deep research and reasoning models. Knowledge cutoffs. Like, oh, it can't tell me what happened today. Like, no,

it can actually tell you the weather today. It can go and look that up on the internet, no problem. And so many people still use these reference points. And maybe they dip their toe in, but it's definitely time for them to dip their toe in again. So this is good. I love that. At the same time, The coding models as remarkable as they are, they'll reshuffle the economics of tech. We're seeing this with the SaaSpocalypse. Certain companies will be stronger beneficiaries of AI. Others will be damaged because maybe their only moat was that they had a complex software system that was hard to migrate off of.

All of a sudden, an agent can just do it for you. When I think about telling my friends outside of tech about the coming wave, I'm just not entirely sure how helpful and understanding of coding agents will be for them. I was thinking about some of my real world friends. Like I'm friends with a surgeon. Like, yes, he has. has a SaaS product that helps him book clients, he should probably renegotiate that. I would not recommend vibe coding his own payment system, but like the humanoid robot that can

operate on a patient in a surgical context and has the trust of the patient, like, it's coming, but it's ways away. I would definitely talk to any software engineers in your world about what's happening, how the level of abstraction. I mean, just yesterday, Roon posted something. It was like, whatever level abstraction you're giving to the AI agents, you should probably be delegating one level above that. That's a good frame of mind. And so if there's someone out there that says, look, my company for some reason hasn't been really on the forefront of AI adoption. I don't really have access to the models or they're not approved. It's like, yeah, you should probably be using these in your free time a lot to get up to speed to know how to actually use the new tools as effectively as possible because that's clearly where the future role is going.

Yes, it will change over the next decade. Like I'm not AI bear here. I'm just saying like I don't know that February 2026 will be the month that like surgeons change the software only singularity super real the singularity broadly. I still believe in the Kurzweil timelines But I don't know that February is is the month where like everyone is changed where you're like a car mechanic or yeah like I have a friend who operates a bunch of gas stations like one of the things he had to do was like kick someone out who was trying to steal stuff like there's a crazy video of him like jumping over the counter and like the humanoids will change a lot that's not quite here yet we're we're still like in this like slow takeoff in my opinion it is remarkable and it's a lot of fun to talk about so i do think the recommendation of like talk to your friends about advances in AI is awesome because you can just say hey like look at this personal website let's build you this oh you have a wedding coming up like here vibe code your wedding website like what do you want to do like there's a whole bunch of different things that you can do but for most people it won't be like COVID where 100% of people were

somehow affected it by it. Even five years ago, there was kind of a running joke where it felt like a lot of office jobs were just fake. And even when people kind of like started, that became part of the zeitgeist and people were talking about it, it didn't mean all the jobs went away. Some jobs have gone away, but again, head counts, you know, even a lot of these companies have stayed relatively stable. We had a good jobs report surprisingly. Yeah, economists expected 65,000 jobs. the number came in at more than double at 130,000 jobs. We'll see where it lands in terms of...

But yeah, the question is like, okay, the jobs have always been some email jobs. A lot of email jobs have been pretty fake. What happens if agents can do a lot of these jobs? Do the fake jobs remain? Yeah. I was joking. I responded to the article and I said, TLDR, freak TF out and sell all your money immediately. People were asking, what do you sell your money for?

That's the point. I was joking around. I thought Jeffrey said it's depressing how widely shared and read this is. It's AI generated word salad posted by someone with vested interest in spreading AI hype. AI is big, I guess, but its effect will be much more complicated than this quote unquote essay implies. So really really going hard. But again, it felt like something like send this to 10 friends or you will be in the permanent underclass forever. Like kind of like high school.

Yeah, it was a little bit of like a throwback to the permanent underclass. Tyler, what was your interpretation of it? Yeah, I think my main critique is like, with COVID, it's like very destructive, right? Yeah, maybe you lose your job, but like at the very least, like you might get sick. Everything is like bad. Yeah.

With AI, it's like, this article is like, yeah, people are like gonna lose their jobs. That's like kind of what the just like, you should be aware that like your job might get automated. Yeah. But like AI is like fundamentally like, it's like a productive tool, right? So I imagine like it's not gonna cause a recession.

GDP is not gonna go down, it's gonna go up. And so I think my base case is like jobs actually get like way more fake generally. I mean, there's probably like hundreds of people on X and their entire job, like their salary is just posting fake AI news and they get paid by, it's not even like sponsored deals, it's like they're just getting paid by X directly. Like that's like completely fake job. Yeah.

But like that's going to go up. There's going to be more of those. I'm exhausted by the OMG. This changes everything. AI posts, this godforsaken site that I'm planning to take my doom scrolling talents back to Instagram. I believe in AI. I use it every day for increasingly non-trivial tasks. My team spends a massive amount of money on it, vendors, tokens, acquisition, and I have

I've pitched AI products that we built on stage. I believe things are changing fast. I don't care to hear some sweaty, overly online dudes breathless panting over the latest model anymore. I don't need to know what's changed in the last 45 seconds in AI. I don't need some dork with a weird haircut writing condescending posts. Like he was the first person to get the last Harry Potter book and wants to drop edgy hints about how Dumbledore dies at that. I'd rather miss the latest AI news and just be poor. Tell me when the singularity is done.

So I can pause Singles Inferno and I'll tune back into X then. Nelson says, okay, but this one really changes anything, everything. Please, I promise, please. Yeah, people are having fun. Feels like an anon congest tweet. Just vibe-coded dratabrics with a screenshot in the SaaS market will fall 5%. Cephalopod. Yeah, I mean, if your job is building a wraparound chatchipt like this guy,

then it's not surprising that AI can automate that. Fire and shots. What did Joe Weissenthal have to say? Joe, with a funny post. He says, seeing a lot of posts from software engineers that are like, AI is devouring my job and soon it will happen to everyone. And it's like, maybe, but just because you have an easy job doesn't mean everyone else. Such good bait.

Incredible bait. Master. Incredible. Solid bait. If anyone falls for this, you really deserve it. Bucco Capital said a great comment from a friend who's coding with these AI tools around the clock. For the hype you read online, it's just really difficult to tell the difference between a genuine breakthrough, propaganda to justify valuations and LLM psychosis.

Yeah, Matt Schumer's article must go incredibly hard if you have LLM psychosis. I was thinking more about clawed with ads, the vibe-coded drop we launched on the Super Bowl. That was an idea that we had Friday morning. And after the show on Friday, we sat down, we talked about it with Tyler and said, like, is this feasible? Can we get a functional website up? It's a clone of the Chatschee, of the Claude app interface, same color, style guides, fonts, all this stuff.

Like, coding that by hand feels like a week-long project. I don't know how long it would take normally. But like, and it was clearly accelerated. And I was thinking about, like, if we didn't have coding agents, what would we have done? Like, we could have paid a dev shop 10K to build something like that. But we probably just wouldn't have done it at all, right? Disagree. Okay.

What do you think? How would it have played out? I was doing kind of drops and stunts like that before coding agents were a thing, and you could just work hard and do them. Dylan and I, you know, we did one back in the day with Party Round called Helpful VC. This was, I think, like May or June of 2021, so it was before the crazy NFT boom had really started, but Cryptopunks were popular, and we made a collection of like 400 NFT. of various VCs, and we just put them on a website and said,

if you don't repost this site in the next four hours, we're going to auction off your NFT. And so you had like 400 VCs reposted it very quickly. And that was an example of like a funny idea, like Claude with Ads, where we just had the idea. We worked on it for a few days, shipped it, and that was it. How long was it? A couple days?

It was definitely no more than five business days. We got this done in like one day. Friday to Sunday, Tyler was still shipping. Yeah. Yeah, what do you think? Like, obviously, like, I'm extremely bullish on these tools and they're like incredible, but it's still like, I was spent like most, like almost all my Saturday,

like building now. Yeah. It's not like, it's like, yeah, like they're accelerating. You took one for the team. You sacrifice your weekend. Like these tools are like, you're already the month. But it's still, I still, I still, I still.

You deserve it. They're not so incredible that like it can't like literally one shot it in, in five minutes. You can't just tell Cloud Code build. Yeah. Yeah. And it's not, it can't actually like, Yeah, without you, it would not have happened.

Delicious Tacos. Favorite account says, moratorium on AI CEOs using AI to write long-winded articles on how scare they are of AI. Very true. There's a lot. But I wonder, this didn't trigger my, this is AI writ slop, you know, vibes. Maybe there was AI involved somehow, but it felt like it was sort of just, I don't know, very readable.

It didn't throw me off. I want to talk about Ty Lopez, Ty Lopez, the retail, Retail Revival, Vow. burned investors. The Wall Street Journal has a deep dive on Ty Lopez. He pitched Radio Shack Pier 1 turnarounds. Now the SEC alleges a Ponzi scheme. Ty Lopez was living proof of the American the American dream was still attainable for young men willing to bet on themselves. I'm hiring. I need high ticket closers. You can work from home. You work from anywhere. I have literally tens of thousands of leads. Okay. What I need is people that have high energy. They're sharp at sales and they're hungry.

crazy lead flow. The entrepreneur hosted parties at a mansion in Beverly Hills and boasted about the black Lamborghini in his garage. The college dropout had made a name for himself on social media by offering get rich quick advice and self-help courses. He was one of the first people to really understand the economics of YouTube ads. When he went live with his YouTube ad campaign, he had the LTV to KAC so dialed that he was able to spin it up and just Spend millions and millions of dollars on YouTube ads. And I don't know if he owned the Ferraris or rented them, but like it clearly worked. It was like the first real breakout, not influencer campaign, but direct YouTube ad network campaign.

He urged his followers to invest in a new company he had started that was scooping up distressed retailers on the cheap. Radio Shack, Pier 1 imports, dress barn, Modell sporting goods and linens and things, with a promise to turn them into e-commerce winners. That was always a weird, weird, weird story. So Sean Murphy is an example of someone here. He saw Lopez's posts on his Facebook and Instagram feeds and was drawn in by the brand names and the promise of 20% returns. Always odd to pitch a promised return.

Yeah, and this is called first kind of major error. Having a bad business idea, like buying old retailers and trying to revive them. is not illegal, but general solicitation. Yes. Very, very risky. No, no. Sean Murphy invested $175,000 into the company called retail commerce ventures, e-commerce ventures, REV. Lopez raised more than $230 million from hundreds of mostly small investors.

We talk about these big funding rounds and we're like, oh, like, how did this person get this much money? And we hear about the SPVs and the layer SPVs and all the bringing retail into the private markets. but like he really did it. So Murphy is another example. He's an Illinois grandfather. He got a $10,000 peer one gift card and monthly checks of about $1,000 for two years.

What he didn't know was that his payouts allegedly were funded mostly by other investors. Second mistake. Second mistake. These guys lied, he said, they conspire. They led people on poor Murphy here. The payments stopped abruptly in late 2022 and the struggling retailers were then taken over

by some of the company's creditors. So he had the 230 million of equity and then he also levered that. Yeah. Last September the SEC filed a civil lawsuit against Lopez and his partners accusing them of running a Ponzi scheme, misleading investors and misappropriating $16.1 million. The FBI has been contacting investors as part of a criminal investigation into what happened. Lopez and his lawyer, Marty Reddy, didn't respond to requests or comment. Lopez, who's 48 years old now, hasn't addressed the company's collapse and the heavy losses incurred by his investors. The day the SEC filed suit, he posted on X, never doomed. No matter how horrible this situation, don't ever think you're doomed unless you are dead.

All defeat is psychological. He's talking to himself there. Yeah, I guess staying in character. I just can't believe how much like the check sizes for some of the people that he was bringing in. Yeah. Apparently Nelson Rowe says Lopez seemed credible, an 82 year old retired real estate broker who invested $300,000. The story sounded so good. You can imagine somebody like this like goes off.

line for 10 years and then just like logs onto the internet and it's like wait this guy has radio shack all my favorite imports linens and goods yeah lins and things linens and things i mean this seems like a winner uh so yeah yeah quick quick google search could have could have helped to avoid this ty lopez his greatest contribution i would say is not very great is he inspired tens of thousands of young people to try to make their money in in info products which is like still perpetuating itself because it's sort of like a it's kind of like a virus somebody starts doing it they get people down their funnel the people get down their funnel they realize like hey like this guy's actually making money with courses i should learn from him how to do courses

and it just kind of creates this web of people selling info products and and you know flaunting a bunch of of their lifestyle so there's so many layers the you know the course that teaches you e-commerce or drop shipping and then the course that teaches you to sell courses on e-commerce And we need to do the final boss. The course that teaches you how to sell courses about how to sell courses, about how to sell courses about how to sell e-commerce or something like that. Let's go into the shopping spree. Did you ever buy a course?

Yes. That actually changed your life? Yes. Yes. Yes. I did. I bought a course on Houdini, a motion graphics tool used in Hollywood. If you've watched Game of Thrones and you see all the horses galloping.

What was the course title? Was it like, how to get rich quick with Houdini? No, it was like using Houdini in advanced VFX pipelines. So you weren't, the course creator was not driving a Lamborghini. No, no, the course creator was like, I worked on Westworld. You want to learn how they did Westworld graphics? And I'm like, absolutely. I would love to pay you $1,000 to teach me how to do that.

You paid to learn how to fish. Yeah, now you're feeding yourself for a lifetime. Exactly. Because, I mean, truly courses are good if it's a narrow scale. Yeah, I definitely bought at least one workout course when I was probably like 18 or 19. even though it was like effectively advertising a bro split. Yeah, yeah, yeah. Just learn from any Arnold video,

any quick Google search, certainly can get it from Chatchabit. It was opinionated and I just followed it. And it was well worth the money, even though the information was like, there's something about if you pay for something, you're much more likely to take it seriously and actually try to follow it. And so I won't say, even though we're kind of poking fun here,

fun here. I don't think all all information products are bad. I completely agree. P90X. That was the workout course that was going viral when I was in college. The ones I do think are, the ones I do think are like really, really, really bad are when they advertise like trading courses to like younger audiences. Yeah. Because it's like, okay, you have $300 in your bank account. Yeah. I'm sorry. Like you're not you're not, you're not going to change your life. You should learn anything else. The crazy thing is that there is a reasonable trading course, which would be like buy ETFs, right? Like there is good financial advice that you could give someone to trade, right? And it would be basically like don't trade, like buy and

hold. Lopez teamed up with Alex Mayer, mechanical engineer who had co-founded an online dating app that sold for $255 million. Not bad. In 2019, they formed Miami-based retail e-commerce ventures to snap up distressed retail brands. Lopez was CEO and mayor president Lopez's younger cousin was chief operating officer. According to the SEC complaint, she previously worked as a substitute preschool teacher, a radio station promoter, and as an assistant to the online educational company that Lopez had started. And one peer one pitch deck investors were told they would receive 200,000 after their first year if they invested one million, which again is 20% return, which is insane. Any sort of like guarantee return is

usually a huge red flag. Getting into the jobs report. Jobs report. 130,000 jobs. Economists expected 65,000 jobs and a 4.4% unemployment rate. Traders pushed Fed rate cut expectations to July, and revisions trimmed the US 2025 payroll gain to 181,000. There were kind of delays with the report, right?

Everyone was expecting this to be absolutely abysmal. Yeah. And now I think the reaction is, can we trust? we trust the data. I was debating with a friend about, he was sending me some economic data and he was saying like, like, AI is the only thing holding up the economy. I was like, I don't know that that's the right phrase. I almost prefer AI is holding up the stock market, but healthcare is holding up the economy

because that's where we're seeing job gains and that's where like the real economy, like there's always this disconnect between what's happening in the markets that's very forward-looking. And then there's like the on the ground, like, do people have jobs or not? And the question of like, do people have jobs or not is much more in the health care and services sector. There's going to be some debate over, you know, how real is this? Will it be revised down? But there are other economic statistics that we can look at. We're having Harley from Shopify on the show and we'll ask him about the health of the consumer because he sees a lot of commerce data.

And if people are even just worried about losing their jobs, usually they're pulling back on spending. Yeah. And revisions came out today as well, showed job growth was almost. 900,000 lower in the 12 months through March 2025 than initially reported. So again, like we announced these big numbers. Yeah. And then we kind of move on and then revise them. Yeah. Employers added 130,000 jobs last month and the unemployment rate declined to 4.3% according to the BLS. I mean, there is this interesting tension, right, between even if the job numbers are inflated, that puts pressure on the Fed to not cut rates, which is another stated objective

of the administration. So you have these like two things. Like if you're if you're pushing for, hey, let's let's count every possible job that could potentially, you know, fit in this category, that will then, it's going to be harder to make the case that you should cut rates. In leaving rates unchanged last month, Chair Jerome Powell cited signs of steadying in the job market. So Jerome Powell saw this as well. Coming off a hiring recession in 2026, this is welcome news. The labor market appears to be stabilizing. Well, you know what, Israel. Bite dance, sea dance, 3.0. The model's very good.

This is a nature documentary about an otter flying an airplane, which, if you ask me, is worth the two trillion of capex. It is photo real. In a world of marvels, some creatures defy all expectations. This is the incredible story of the pilot otter. That's cute. I like that. Lucas is firing shots at actors, but we can pull this up.

You killed Jeffrey Epstein, you animal. He was a good man. He knew too much about our Russia operations. He had to die, and now you die too. Insane, insane audio, but the video, I mean, I can't. You've watched a handful of movies more than me. Does this look like it could be in a film? It's close.

It's pretty close. What are you missing? I mean, just the length of the short, shot, it's not fully like modern the way Hollywood shoots an action scene like this. It's either like way more cuts and just way more like detail shots like cutting in and out or they'll try and turn it into more of like a cinematic set piece and have like a drone shot or sweeping shot. Like it's very rare that you're just sort of sitting there watching that in most of like the most modern movies. But but if you were sitting there prompting.

and splicing it together from different angles. For sure. You could. Yeah, I think I do wonder if there's like an interesting comparison to the kind of cloud bot stuff where like I think one of my main takeaways from the cloudbuff thing was that it's going to be hard for big labs to kind of replicate that just because of like you can't get the WhatsApp integration like stuff like this where I think with the Chinese models, the image models, the video models, they're very clearly like training on stuff they're not supposed

to be training on. Like the otter flying like that's David Attenborough's voice. like you're not supposed to be able to do that. Yeah, yeah. Where like can SORA, can opening out release SORA with that exact voice? Like probably not. Yeah. Like maybe they can try to do it.

But like they're clearly going to face some legal repercussions. Yeah. Where like China can actually just kind of do it because they don't really have those. Yeah. A lot of the American labs, it feels like they've been launching very aggressively and sort of making a fair use claim and probably engaging with lawyers from the big IP holders immediately and just sort of saying like look yes like we know you can prompt Disney characters where you're happy to pull that out but also can you want to talk to our

business development team and yeah like with open eye you saw them actually do like a Disney deal where very quick China is not like I'm pretty sure that you can go and see see dance yes and just prompt like Mickey Mouse you know doing a little dance or whatever will Smith fighting a spaghetti monster epic action film scene different cuts there you go John you want to All you had to do is ask. This is pretty real. I like that Will Smith is just the benchmark forever.

And I have the old Will Smith spaghetti AI ready to go after this. Okay. All right. So this is February 2026. Yeah, this is. Let's go back in time. That is a great shot. That's something you need to do in Houdini.

No longer. Pull up this next one we got going back to 2023. China can one shot AI crime. Wow. Wow. This is the progression? Or was this just... I remember people used to post this exact same thing and be like, this is going to change everything.

And it did. And they were right. Yeah, they were right. But it's still funny. And now it's just him sitting there enjoying spaghetti, I suppose. We got to talk about Mistral. Mistral's cooking. They're cooking.

And they're investing $1.4 billion to build out AI infrastructure in Sweden. Wow. Let's head over to Bloomberg. French AI startup, Mistral, is investing, $1.4 billion U.S. dollars to build AI infrastructure in Sweden as it pushes to become the go-to AI supplier for governments and enterprises in Europe. The data center will be located in a place that I can not pronounce Borlaanche. The facility will house the advanced computing power to train and run Mistral's AI models and is scheduled to be operational from 2027. This is Mistral's

first data center investment outside of France and the company is billing the build out as a move to strengthen European tech sovereignty. As political ties with Washington-Fray, governments in the region are increasingly wary of relying on Amazon, Microsoft, and Alphabet, which dominate AI infrastructure, data storage, and cloud computing. Mistral, which develops AI models and hopes to be Europe's answer to Open AI, says it can offer customers a fully European AI stack. This investment is a concrete step toward building independent capabilities in Europe, dedicated to AI. Their last round was led by ASML. 1.3 billion dollars from the Dutch chipmen. That's a good deal.

They're cooking. They're cooking. This is the kind of thing that McCrone should be highlighting. And they're announcing in the financial times that their revenue is now similar to Grock, over 400 million. Interesting. 400 million as Europe seeks AI independence. Shorty discussed dissing McCrone caused domino facts. Mr.

Rollin, that's one point where billion. You manifested it. I did it. I inspired them to grind harder. Ackman makes $2 billion bet on meta. Bill Ackman's Pershing Square revealed a major new stake in meta, making up 10% of its portfolio or about $2 billion. The firm sees meta as a top beneficiary of AI,

boosting ads, content in future products like wearables and digital assistance. I saw somebody had wired up. I don't think we got to it in the show, but they wired up OpenClaw with their meta headset. Okay. But effectively saying, like, hey, buy this product, and it would go to Amazon and buy the product. Wow.

And that is the vision we've been talking about. That is the opportunity. Zach wants you to be able to just be in the world shopping. Meta has tried to get into commerce so many times. There's been a lot of back and forth about, you know, should you be able to just click and check out directly on meta properties? It's never fully developed, and you have to imagine that they have all the bidsda of horsepower in the world

to try and go and do that. But for some reason, that has continued to live in the domain of brands in Amazon on Shopify sites, et cetera. Sign up for our newsletter at TBPN.com, and we will see you tomorrow at 11 a.m. Pacific Sharp. Thank you.