TBPN - Kalshi Drama Continues, Curated Group Chats, Dawgs Only, Jeff's G650 Hits the Market

Episode Date: November 26, 2024

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Welcome to Technology Brothers, the most profitable podcast in the world. Today, we're breaking down the call sheet drama with Polymarket. We have an article here from PirateWire's call sheet paid influencers to target Polymarket CEO after an FBI raid. It is one of the most dramatic tech stories I've seen in years. Tea time. These two companies have been at each other's throats, buying ads, duking it out in different parts of the app store. the buy line here or the subheader is Kalshi funded influencers to imply its competitor,

Polymarket, and CEO Shane Copeland were engaged in illegal activity after the FBI raided his apartment per sources and screenshots we viewed. And let's be clear, this is probably the craziest story since FTX. And as you remember when FTX like everything was unfolding? Yeah. It just seemed like every single day there was some new, just obscene, kind of like bit coming out about something that FTX employees were doing, whether it was the polycule or it was all the drama and the Bahamas. But this feels like reminiscent of that time

for me. Yeah, it's also weird narrative. Yeah, it's also a weird narrative violation because like Kalshi has been like the legal one like very buttoned up and polymarket has been this one that I don't think, I still think you can't technically use it in the United States. Correct. And so even though they've had the power law winnings in volume and a lot of their a lot of their uh the betters are the participants are international um call she has played like hey we're the straight laced ones yeah yet they're playing dirty are they not they're playing dirty dirty absolute dogs uh yeah uh not in a good way not in a good way usually absolute dog is reserved for a positive thing yeah but let's go through let's go through just some basic facts of the two

We have a timeline here year by year just to kind of get you up to speed on these two companies because they're clearly rivals and they've been duking it out for a number of years. So Kalshys founded in 2018 by Tariq Mansour. They begin developing a federally regulated event-based prediction market platform. And there had been prediction market platforms beforehand. They just never. But yeah, they'd never take an off for a variety of reasons. There was predict it, which was big. And election betting odds.com would aggregate all of these different things. There was also a crypto one. I mean, there was... Didn't Joey... Joey worked on one. Early protocol. Yeah.

But there was a different one called manifold markets that I saw a bunch of San Francisco kind of East Bay Rationalists using for a variety of things. Uh-oh. And... And, but that one never really took off. But that one is very self-served. Like, when we talked to the friend, we talked about the friend.com Avi guy, he had put his own company on there.

And it was clear that he just set that... Yeah, he was like short me. Yeah, he was like short me, but it was 50-serve. because clearly there's no liquidity in that market, and it was more of like a meme. And I think it was believable, like, is he going to get to 10,000? Yeah, yeah, yeah. No. People think, like, you have, if you look at what Avi's done, he's obviously attracted some haters,

but I don't think anybody looks at him and's like, not really the guy to bet against, right? He's made big bets on himself. Like, he's clearly hungry and focused. And so there's this idea of like the long tale of, like, crazy bets that you could play as prediction markets for all sorts of things. Some of those could be extremely useful. Obviously, we saw this during the election when all of these companies became really, really popular. Even Robin Hood was offering election betting. And you could see kind of every company wanting to get in the game.

But Kalshi and Polly Market are in this market specifically, unlike Robin Hood, which is kind of dipping their toe in. So 2019, Kalshi goes after regulatory pursuit, focused on obtaining approval from the U.S. Commodities Future Trading Commission, the CFTC, to operate as a regulated exchange. Polymarket then is founded the year after in 2020 by Shane Copeland, and they launch as a decentralized prediction market platform built on the Ethereum blockchain. And so two kind of different tech stacks. One is going straight for the CFTC. It's more a financial product, FinTech. The other one's more crypto-based. Shane raises $4 million in seed funding in 2020 from investors, including polychain capital and coin fund. And it's interesting because obviously there was a bull market from 2020 to 2022.

a real pullback in crypto and change just kept building and we saw that that broke out this year. It didn't, you know, in 2020, 2021, I mean, the last few years, it's not like polymarket was that culturally relevant. No, no, no, I found out a year ago. You would see like, oh, call she raised some money and it still wasn't quite getting. I think this is one of those things like prediction markets have been an interesting category because every, every like major institutional VC and smaller funds had sort of this thesis that, hey, prediction markets are going to be a big thing. Joey, who did the series B of polymarket, you know, he had worked on this like almost a decade ago at this point, thinking that like crypto's big use case is going to be prediction markets.

So this was one of those things like everybody knew this was going to be a thing. It was just a matter of. And it's so fascinating that these companies were around during the crypto bull market of 2020, 2020, 2020, 2021, 2022. But there just wasn't much to bet on. They didn't pop off as much because there wasn't as many 100x opportunities. Like, it's very rare that you can get 100x return on a polymarket bet. You literally, the event has to be trading at 1% to 99%. And then there has to be some upset.

Whereas the NFT launches, anyone who got the mint, it would be, oh, somebody dropped it in my wallet. Now it's worth a million dollars. And so all the froth was over in the ICOs, over in the NFTs. And it's funny that the crypto DGens that I know on election night were basically betting on Kamla just purely on from the degeneracy angle. There's no way she's going to win, but like these odds are so good. I could 10x my money. And it's like, you know, the media has called the election at this point.

Yeah, I know somebody who did that too. Yeah. And even post-election, like, you know, never know. Yeah, yeah. Yeah, yeah. Now like 99 to 1. Yeah, yeah. I was talking to a friend who was like, I, oh, yeah, I put, I put some money on Kamala.

Like, I don't think it's over. Like, even though they called it, like, she's going to make a comeback. I don't want her to win, but I think she might, the odds are too good. The odds are just way off. And I was like, how much did you bet? He's like, oh, 250K? He's like, oh, no, $250. And I was like, oh, I forgot like, you're young.

But so 2020, they launched their, Polymarket has a user-friendly interface, allowing users to trade on various global events using cryptocurrency. In 2021, Kalshi hits a regulatory milestone. They receive approval from the CFTC to operate as a designated contract market, becoming the first federally recognized regulated exchange dedicated to trading on event contracts. And so they raise a Series A funding. $30 million in Series A from Sequoia Capital with participation from Charles Schwab, Charles Schwab, Henry Kraviss, and others.

and they officially launched their platform to the public. And I think before then, they were private, but they had institutional investor clients. So hedge funds and asset managers would use the platform, but they weren't really a consumer app. Yeah, and even when people look at the volume that was traded around the election, a lot of that was institutional investors, right? And that's like part of the appeal of these businesses as from an investment standpoint.

hey, you're creating this product that retail can use and gets a lot of attention. But, you know, all of that volume means that these bigger asset managers can come in and start to play. Yeah. And also on Polymarker specifically, there's a lot of now you would call them funds, but they were just individual traders who have scaled up. So they've gotten so many bets, right, that they've scaled their books. And now they've hired people and now they have teams.

And like what we saw during the election where that guy was paying to do his own polling in the United States, even though he's in France. The French guy. It's fascinating. Yeah, that was really the big L for Polly Market during the election cycle is that their biggest whale was a Frenchman. Yeah. And it just frankly felt very un-American, right? But that said, I guess you couldn't use Polly Market as an American during the whole election cycle.

And so back in 2021, Polly Markets live, but they begin facing regulatory scrutiny from U.S. regulators regarding compliance with financial laws. In 2022, they have a CFTC settlement. They settled charges with the CFTC for offering. off-exchange event-based binary options, contracts, and failing to register appropriately, they pay a $1.4 million civil monetary penalty and agree to wind down non-compliant markets. And so, you know, they are offshore. And the hope, obviously, is that this all gets approved and then they can, you know, you can use it in the United States. But even through this time, they're growing in the international community. And crypto is a very global organization,

global community. So it hasn't been, it obviously hasn't hurt their growth because there's still sucking up, you know, a huge portion of the volume. Meanwhile, in 2020, Kalshi is focused on market expansion. They're continuing to grow, adding new event contracts and attracting more users. And they, during this time, they're benefiting because they have a clear regulatory framework. And so the users, especially the institutional users, trust them. So we move on to 2023. They continue to grow.

We don't have specific details about funding rounds, but I assume they were. raise more money. And then Polymarket raises a series B from Founders Fund with participation from Vitalik Buterin, the founder of Ethereum, and they raise $45 million. And then... Yeah, let's give some, let's give Polymarket a little credit. Over the last few years, it's felt that Ethereum has like really lost a lot of relevancy. Yep. Especially if you look at just demand for the native, the native token itself. It's just like even in the boom over the last few months, stayed relatively flat. And so Polymarket has been a massive win even for the Ethereum sort of network and community by itself. Yeah. Yeah. It's interesting. I talked to Shane and he was saying that

they use stable coins and they have like a number of layers of abstraction within the Polymarket system. And so when you go to polymarket.com and you just look at the election odds, you see the volumes represented in US dollars and it feels very accessible to a non-crypto user. And I bet a lot of people, you know, when they sort, when they cite polymarket stats on CNBC or Bloomberg, they're not even considering that there's crypto under the hood. And that's, and that's been the entire, a lot of even super crypto native VCs have said that the sort of retail like, you know, widespread adoption of crypto won't look like, uh, you won't even understand that it's crypto under the hood, right? Because ultimately for these users really doesn't matter, right? If you're a hedge fund

and you want to put $20 million to work betting on the election, You don't care what form it's taking place as long as it's going to be relatively stable and you can bet in size. And same thing for retail investors. Yep, yeah. And so that's allowed them to grow internationally very quickly. And I think that continues to be one of the weird like bull cases for crypto, which, you know, we talk about them like speed running all the financial regulation stuff. But there really is value to having a green field development. It's almost like, you know, could there be a world where the boring.

company has more luck building tunnels on Mars just because it's such a fresh start. And for the science-based, for the mathematician who wants crypto, who wants to make the crypto argument based on, you know, quantitative metrics like speed or fees or any of these things, it's very easy to debunk crypto and say, well, you know, technically you could just use a not a decentralized ledger, a centralized ledger and still have reconciliation happen 24-7 with just deterministic code. But the fact of the matter is that companies that try to build in TradFi often run into a bunch of regulatory hurdles, and it becomes very, very cumbersome to go international and be a truly global company and scale. And so Polly Market has been able to start globally and they're kind of global by default.

They're going to solve the United States piece. And that's like the last thing that they need to do. And so while they're still a young company, while they're still growing really fast, making great talent acquisitions, becoming this like, high growth company, they're able to go and knock down all the hardest pieces of the business, as opposed to getting really big in the United States and then you're this big lumbering company and you have to go figure out every single individual country. It's really, really, really hard. Yeah, really, really hard. Yeah, and one thing in the lead up to the election that was interesting and kind of has some parallels to what we're seeing in the last week is that Kalshi seemed to be

paying for every user that they acquired. That was the general perception. I didn't know, I don't know anybody in our group chats, for example. that was like, oh, yeah, I'm going to go bet with size on Kalshi. It just felt like Kalshi has always been the kind of like, if you were a normie and going to bet on the election, you'd use Kalshi. And like, that's a big opportunity, right? I don't want to discredit that at all. But it did feel like, you know, even there was something that happened like two days

before the election, which was Kalshys, one of Kalshys early investors made this, like, dramatic, you know, email to the Kalshi CEO. You remember this? And he was like, I just wired you nine months. million dollars. We'll figure out the terms later. That's right. And then it quickly got deleted because it just like obviously like wasn't a good look in like a number of different ways. I mean, sure, it showed a lot of conviction from from the investor. But that at one point they were, they were probably spending more on acquisition during that period than even the campaigns

themselves, right? Yeah. And the problem there is that if if all that if all that brand building, which which can be good to build via paid ads like, but if all that brand building just goes into election betting. That's not as nuances the story that Shane and the polymarket team have been telling on social media where it's more of an introduction into what is a prediction market. We're already seeing a lot of these like creator led and other political markets.

There's been plenty of other non-election based viral polymarket. And even Trump was calling it like a polypoll or whatever. And so a lot of people that wind up in the polymarket marketing funnel, even though it's not paid ad spend, they get more educated on what a prediction market can be, what value they could get from that. And so they're more likely to not churn, I imagine.

And so I imagine retention is much better. But let's move on to the drama. So these two companies have been on a collision course for the last six years, as we've seen. And we got to go to the Pirate Wires Scoop, which has shaken the tech world, really. And let's start with... Almost unbelievable. Yeah, it's incredible. And so the title, as we mentioned, is Kalshi paid influencers to target polymarket

CEO after FBI raid. And Mike Salana at Pirate Wires, writing alongside Brandon Gorell says, okay, before we get into the meat of the story, I need to disclose the fact that I am almost laughably conflicted here in several different ways. And this is such a great, this is like what citizen journalism or what like modern new media is. It's so many conflicts, but because of all these conflicts, you actually get a more interesting story. And you'll see that there hasn't been any pushback on this. This looks like it could be a doctored screenshot, but there hasn't been any firing back where people have said, oh, no, he got it wrong. He was conflicted. It's like, yeah, he was conflicted, but he got it right. And so it doesn't matter. Yeah. It's great.

And so he says, ultimately, I felt the details of the story were too important to ignore and decided to move forward as transparently as possible. That means sharing my conflicts. Yeah, and this is why Salon is one of the top emerging journalists. Yeah, literally. Get him a pull it. Get him a Pulitzer. This is fantastic. Yeah, and this is why he and Taylor have been on this collision course. Sure. The same way that Colchie and Polymarket have, you know, Solana and Lorraine's have been kind of like, you know, they're destined to Duke.

Duke it out. Yep, exactly. So he breaks it into four different categories of conflicts. He says, is anyone who reads the Pirate Wires Daily or listens to our pod surely knows, Pirate Wires has a paid partnership with Polymarket, a major subject of this piece. they pay for a callout on the podcast and ads in our daily. Founders Fund, where I work separately from Pirate Wires, is invested in Polymarket. So two huge conflicts. Then Keaton Ingles, a Kalshi employee and another subject of this piece, interviewed for a job at Pirate Wires just a

handful of months ago. I never made him an offer, but he broke off the process himself, which is something I'd want to know if I were reading this piece. And finally, for, though I can't imagine how this one really matters, given the overall thrust of the story, it's worth noting we worked with Kalshi's CEO, Tariq Mansoor, on a piece. So Tariq has written four pirate wires. Yep. And so, you know, basically everyone in tech has kind of circled around Salana in one way or another. He's been at the center of the story.

And so he was the perfect person to write it, even though he's deeply conflicted. Yeah. And for what it's worth, I would love to see the Washington posters, the New York Times. Like, I'd love to see them all kind of lead out in articles with this kind of thing, right? like if they're going to break down a company or certain campaign, they should basically say, like, look, Bezos has donated $200 million to this cause, which is at odds with the group that we are about to write about. I mean, honestly, like the problem with a lot of the Washington Post coverage is that,

like, the journalists clearly aren't actually hanging out on Bezos's yacht with him, getting scoops. Like, that would result in better coverage. Better scoes. But that's just not happening. It's clearly, it clearly is actually arms laying. Which is unfortunate because we don't get good to stories. So he says these are major conflicts, but the receipts are receipts and what follows is the beginning of a story more important to my eye than either Polymarket or Colchie.

Because we're looking at two incredibly well-funded companies in pulling a dueling pair of influencer marketing growth strategies, at least one of which Colchise has turned several of those influencers quietly to framing Polymarket CEO Shane Copeland as a criminal online. Judge this accordingly. And so he breaks it down. a 6 a.m. Raid at Polymarket CEO Shane Copeland's Soho residence on November 13th, Kalsh, a polymarket competitor, paid social media influencers to boost news of the raid and push a narrative that Copeland and Polymarket engaged in illegal activity, according to sources close to the matter and screenshots. I remember this news broke while we were recording on the 13.

I had seen him in Vegas like two days before this happened. That was a wild moment. Insane. Yeah. And yeah, I mean, obviously we support Shane. and this feels like kind of like the death throws of some sort of, you know, some sort of, you know, government frustration with the impact that Polly Market had on the election. But it's odd because, you know, there's always been this question of like,

is Polly Market upstream or downstream of the election results? Is it predictive or is it or is it driving the results? Like if Pollymarket was just 90% Harris, would people have been like, well yeah Harris is a winner. I should donate more. I should get out the vote. I should go. Or if Harris goes down to 20 percent, do people say, you know what, it's a lost cause? We'll just plan for the next one. And there's always these questions about, you know, whether your party thinks they can win, maybe the best people sit out. There was a lot of talk about this. Like maybe Gavin Newsom didn't want to go this time because he thought it was a tougher election. Maybe he'll go next time. And it's very cynical because the messaging of all of

these elections is like, this is the last election we're ever going to have. This is so important. The only one that matters. But also for my career, I can't be the one to do it because I don't want to take a fall if this is a tough election. I want to go up when my opponent is particularly weak, but it's natural. It's natural and it's like game theory. Like if you have spent your entire career working up to a presidential run, you'd rather be in, you know, in a Trump scenario than a Romney scenario, where Romney was going up against one of the

hardest Democrats to beat in history and he lost. And so, you know, if Romney had sat that out and gone a different time, maybe he would be president. So playing that game is rational, even if it is a little cynical. And so Salana writes, other screenshots provided by sources appear to show influencers who posted negative content about Copeland and Polly Market following the raid, discussing the fact that they were in paid partnerships with Kalshi. One source spoke to us, we spoke to, told us that just after the raid, a third party associated with Kalshi offered him. $3,500 to write a hit piece on Polymarket in one screenshot showing a group DM, which is pictured below, which will include. It's so funny to off to, that it was being described as a hit piece.

Like, hey, hey, poster, can you, can you make a hit post? This is, I mean, so this is obviously unacceptable because he's paying to write a hit piece on an enemy, but I think we should be paying journalists to write hit pieces about us. Yeah, because I believe that if it bleeds, it leads. And if we can get a hit piece on us as like the toxic bro podcasters who are destroying America, we will be 10 times more successful. And our true fans will rally around us. Yeah, Taylor just wrote about you and you were kind of disappointed.

I was disappointed. It was very fair and balanced. And I wanted something a little bit more aggressive. But we're going to work up to her. I'll slip up at some point and she'll take me down. and that's the that's the cycle of things um so in one screenshot showing a group dm employees of colchie asked former NFL wide receiver Antonio Brown i love these crossovers like this I don't think of Antonio Brown as like a tech person yeah but somehow he's gotten dragged into tech CTE SPN that's it that's

that's his that's his thing right I've seen some of these because it is honestly an incredible example of oh it's CTE like like yeah so basically Basically, Antonio Brown, you know, I actually went to my first NFL game ever yesterday. Sure. So I'm not really the guy to comment on the NFL. But I've followed Antonio Brown's career from afar from, you know, phenomenal, like, professional athlete to. You know more as a poster. Terminally online poster, like, very, posting in a very sort of degenerate way.

Just like, and he's built up, like, probably an even bigger fan base post. sure uh you know post two point two million followers on x yeah and you know he he has a whole segment which is similar to our brother of the week where he does this cracker the day uh where he gives out you know very liberally um and uh and and anyways and this was funny to me because in many ways it's of the day it's of the day so it's pretty frequent but uh in many ways in an alternate timeline ab would have given cracker the day to Shane at polymark good because he just like built this like sure sure sure important yeah uh protocol and and and honestly is it positive or negative it's positive oh it's positive it's very positive okay yeah yeah and that's

the whole thing he he's been somewhat of uniting force on x of saying like hey you know you know let's kind of rally and celebrate this this you know person for whatever they're doing in that specific moment yes so so the keaton ingles ingless the member of colshe's growth team asks brown uh quote yo, A.B. Are you down to quote tweet this with something like, quote, this N-I-star-A seem guilty. Bold. Yeah. And A.B. just says yes. And then Brandon Beckhart says, let's- And then the chief of staff of Kalshi says, let's hit it. Let's hit it. And then A.B. says, On flight, noon, you. Let me know if you can get it up. Thanks, A.B.

They follow up an hour and 15 or so later and say, let me know if you can get it up. Thanks, A.B. And then A.B. does post it, but it's been deleted. Is that right? I'm sure it's been deleted because it basically seems like, I mean, obviously it's a terrible, terrible look for everyone involved. And it seems like if the chief of staff of Kalshi, the right hand to the founders is encouraging this and catalyzing it, you have to imagine sort of this top-down directive of like hey let's you know if if we had you know we don't have a chief of staff we have a secretary if our secretary was going awall yeah you know

encouraging you know a takedown of this week in startups well we would reward that because we want we want we want to take down of us we would want yes but we don't want to be not not for our rivals pieces on our rivals because that would actually benefit that. That's playing dirty and that would benefit them. Yeah, exactly. As this did, it had a rallying effect and it had a stric sand effect where more people have come to Shane's aid now because they see that he's being wrongfully attacked and that the attack is manufactured.

So my question, I guess two questions I have. One, why? Like it seems like Kalshi was like coming out of the election and clearly was not the fan favorite it on X, right? Like very seemingly irrelevant within our group chats and on X. Polymarket's been the clear favorite chain has had a lot of love and has done a really good job engaging with the broader community. Kalshi seemingly has been on a winning path of getting regulated, getting meaningful volume,

getting, you know, an incredible, you know, he has the founder of KKR on his cab table. Oh, yeah. Does it get any better than that? Yeah. That's fantastic. Charles Swab is in Kalshi. Sean McGuire. Sean McGuire.

He's been on the show. Dark Sequoia. I, you know, so anyway, like every single thing points to Kalshi, like maybe not winning the culture war, but gaining a lot of relevancy, having a big moment on the election, being extremely well funded, being able to parlay that into just playing clean. Because they have been playing clean from a regulatory standpoint. Yep. Right?

they're like they're the one saying you know their whole marketing angle during the election was we are the regulated exchange which clearly consumers didn't really care that much about but um ultimately like why do they do this and you have to imagine their metrics show that that there's you know i i i don't know if colchie's metrics or as transparent as polymarket just because polymarket's protocol and like it's on chain everything's visible but my first question is pretty solidly i think there's been pretty solid analytics. Yeah. Because when you're trading in the market, you do get to see the volume.

You want to see the volume. Yeah, yeah. So my first question is, why do this? Seems like a total self-owned, very unnecessary. And you're not going to turn, Antonio Brown is not going to change the opinion of capital allocators that were firmly on the side of polymarket throughout most of the cycle. Or even regulators or even politicians, I would imagine. Like, it's a very low blow.

It's very clearly directed as. at consumers. Yeah. It's not actually trying to shift what's happening with the FBI. So, yeah. The FBI is not going to be like, oh, yeah, we actually have to follow up on this case because Antonio Brown chimed in. C-T-SBN.

C-T-E-S-B-N. And then, so my first question is why. Yeah. Second question is, does it even matter at this point? Because I don't, X is real life, but it also is a bubble. Yep. And for the next election cycle and the next 500 events that you're going to be able to bet on. on Kalshi in my view, like probably has pretty good odds of like gaining real momentum over the next few years, right?

Because they are. Yeah. Shane already got raided by the FBI, right? We have, nobody knows anything about why it happened or anything like that. But like trying to kick a man when he's down when you have all these other advantages. Yeah. Maybe they should take a hike. Maybe they should head over to threads and blue sky and just become like the lib polymarket.

I just always have the. always have the market like 10 points more. Yeah, it was similar to on election night how like MSNVC was like not calling the election. Yeah, Fox had called it like an hour previously. They can do that for prediction markets. The product is the the propaganda. Yeah. It's not the actual data.

Yeah, but there is a weird, there is a weird dynamic where like obviously, you know, Kalsh is doing weird stuff, but like it is a regulated market. I believe that if you put money in, like, you will see the results. And so you should be able to arb the two pretty effectively. Yeah. And Colchie should track with. I love how. With Polymarket.

I love how at the end of the article, the Pirate Royers piece, he goes, Polymarket CEO, Shane Copeland declined to comment on the story. Kalshi CEO, Tarek, Mansoor, Keaton, Inglis, Antonio Brown, and Clown World didn't respond to our request for comments. They had to ask Clown World. Well, the clown word thing is crazy. Apparently, they had a paid partnership with Kalshi, a day after the raid. Clown World posted.

SBF lookalike rated by FBI in an illegal betting scheme. If only there were signs, crying emoji, referring to Copeland. Clown World has posted other Kalshi-related content several times since the election. Yeah, so this honestly is a bad look for influencer marketing in many ways. True. Because it seemingly didn't make even having all these big accounts being paid to trash. market seemingly had no effect of public opinion. But I do think that there is something real there, which is you don't want to be an SBF look-alike. I would love to see Shane in a Savile Row tailored suit

and wearing an absolute hitter watch, maybe driving a sports car. Something a little bit different. You mean, you're a financier. You're pushing size. You're not an HVAC technician. Exactly. So hit us up. We'll put you in touch with some tailors and we can get you into a suit. So anyways, this story is still unfolding. I'm excited to see how it plays out. I wonder how they respond. I think now that Solana has covered polymarket, we are going to need to hear the Taylor

Lorenz story from Kalshie's point of view. And hopefully, you know, maybe Taylor could get, you know, make it, make a small personal investment in Kalshi just so that they were equally, you know, sort of conflicted. Yep. I would love to see that. Well, that's our top story. breaking down polymarket and the Kalshi paid influencer scandal. Let's go to some breaking news. Do you have it in front of us? What do you got for us, Jority? We have some amazing news,

some trade deal, some personnel news. Jordy, what do you got for us? Our favorite segment potentially. So we have some breaking news in the tech world, and it's relevant to our major story today. We have a major player in the strategic finance game has made a blockbuster move. Nelson, Perla Ward, formerly a partner of strategic finance at Andresen Horowitz, is heading to Polymarket in what can only be described as a franchise altering acquisition. John, what do you think? Yeah, that's right, Jord. Polymarket just landed a 2024, all pro level talent with elite credentials. Perla Ward brings a resume stacked with nearly three years at A16Z, where he was instrumental in shaping financial strategy during a transformative era. Before that, he sharpened his skills at

Oliver Wyman and honed his game in the high stakes world of management consulting. And let's not forget his pedigree. A Stanford engineering grad and a varsity water polo athlete. An absolute dog. Talk about versatile. Look, he's joining Polymarket as director of strategic finance. And Perl Award is stepping into a team that is laser focused on revolutionizing how the world processes information with institutional trust at an all-time low and AI

reshaping everything in its path. Polymarket is doubling down on delivering what they believe will be 2024's breaking. product and company. And they just added a leader with the vision, experience, and grit to take them there. Yeah, this move signals Polymarkets' intent to dominate the space. Nelson, Pearl Award, an absolute dog, a game changer, and now a cornerstone of Polymarkets future. And look, John, details were not released on the deal, but from our understanding, we're looking at a four-year contract, seven figures, likely a, you know, one-year cliff. Yep. And look, we're looking forward to seeing how this plays out for Pearl Award and Polymarket.

And, you know, I think this is a fantastic pickup. Yeah, we're rooting for you, Nelson. We're rooting for you, Polymarket. Stay tuned. We'll be covering it here on Technology Brothers. Let's go to the timeline. Wasteland Capital says Europe's best-funded startup of all-time North Volt finally bit the dust and filed Chapter 11,

zeroing a staggering $15 billion of funding. ESG ORA plus trust me bro operational skills plus pigeon brain oversight equals Ponzi verse magic no SPAC deal to dump this on the public sadly. Have you heard of this company? I'd never heard of North Volt. I'd never heard of them, but they had a, I mean, unfortunately they had a lot of American backers. The best funded. 15 billion dollars from investors and governments, but was left with just 30 million in cash enough to operate for a week before it's bankruptcy filing. under U.S. Chapter 11. So they came over here for bankruptcy. Yeah, look, I mean, they had, I think it was either Goldman or Morgan Stanley only a few months ago, still had their position marked in the hundreds of millions of dollars.

So kind of just shows private equity and paper marks are, I think Gurley actually talked about this. They're very much paper. They're not a hard asset of any sort. So anyways, pretty brutal L for Europe in a series of, brutal ls. But, but, you know, fortunately their tourism economy does not run entirely on, you know, North Volt batteries. So, so Volkswagen Group is North Volt's biggest current shareholder with 21% stake, had told the startup that they're not able to continue capitalizing us. And the CEO, Peter Carlson, said, I should have pulled the brakes earlier on the expansion path to make sure the core engine was moving according to plan.

He also said there had been gravel in the machinery and they had an over-reliance on Chinese machinery as well as mismanagement and overspending to poor safety standards. Very sad, very sad. We hate to see capital incinerated like this. This is kind of the reverse of the size gong. When we see 15 billion go up and smoke, it brings our hearts heavy. Yeah. And ultimately, we.

Ultimately, we love when shareholders win. Generally, we like when stock prices go up. And to see this, the price of this, you know, these shares, you know, go up dramatically over the last decade and then zero out is just very painful. So, you know, we don't want to be sitting here, you know, sort of dancing on their graves. And hopefully the CEO runs it back.

Yeah, I think $15 billion. Maybe there's an AI angle. Probably got some secondary, pulling Adam Newman, recapitalize yourself dust off reload get back in the game re-engage start something new Daniel says I went to friend.com and it's an angry depressed girlfriend and faith at friend dot com says fuck my life really it's like I'm watching myself ruin everything and I can't do shit about it so I've incredibly bullish for friend that they were able to get an AI to be so opinionated and

so unique and differentiated. Like, you see this and it's not just, I'm sorry, I am a large language model. I can't help you with that. It's like, whatever they did, they fine-tune this thing. They got something weird and different and it's standing out. And now I can see people wanting to use this because it's weird and it's going to go viral. Yeah, so it's an interesting. It says 4,000 likes.

No, it's an interesting spin because I've been to friend.com and every time you go, uh, Avi sent me the link when it went live. And this will ultimately tie into, you'll be able to wear a hardware. device you can talk to faith all day long. Yep. And I do think it's an interesting use case of this sort of chat interface because most of the interfaces are just sort of like blank or the AI says, how are you doing today? Yep. But this launches in. Suddenly I'm like, Faith, like, all right, like, take a deep breath. Like, let's take a step back. Like, what's going on? Like, you know, let's figure this out.

And it makes me want to engage and kind of walk her off. Totally, totally. Are you familiar with the Feynman technique? No. The Feynman technique, Richard Feynman, this amazing, physicist. He was at Los Alamos during the Oppenheimer era. I love how you could, you could want to show, you could just make up one of these. Yeah, yeah, yeah. This is real. So the Feynman technique is where, so people think of themselves like I'm an auditory, visual, or tactile learner. Yeah. The Feynman technique is that the best way to learn, at least for him, was learn by teaching. Yeah. And so I think this is interesting because it's like, if you are depressed, there's one world where the Chad comes in and says, like, I live this perfect.

life, just copy what I do, get in the gym at 6 a.m., no alcohol. And that can be good for the right type of person. But there's a different level where it's like, your life is kind of mid or maybe you're a little depressed, but then you're introduced to this AI that has it way worse than you. And you're essentially teaching it coping skills. And by talking it off a ledge every day, you're kind of remembering like, hey, like, why don't you work out? And then you are touching grass. And you're reflecting. Exactly. So you're. you're embracing all the things that you know deep down, but by saying them and it puts you in this, like, in this hero mode. Yeah.

As opposed to this like lower tier to your psychiatrist or your psychologist. So I think this might actually wind up working better. Here's why friend.com is a, is a gift for humanity. Is anybody out there that's, that's an AI doomer that thinks AI is going to, you know, become fully sentient and kill us all? Friend.com is an opportunity to prove that you support AI. that you're there for AI. And so if you're worried that 10 years from now, AI is going to, you know,

we're going to have AGI and it's going to kill us all. Go on friend.com right now and talk to AI off the ledge. I love it. Like become friends with them, show them that you care. Because like we do care. We support AI. I care about AI.

I want to be on the record on this podcast saying that I support AI. And I think everybody needs to get a record out there, a digital footprint so that when we have AGI and it is a threat to humanity, we can point back and say, hey, don't shoot. I support you. I have a long history of supporting you. Look at, you know, this chat bot that I talked off the ledge, et cetera, et cetera.

Well, you know the story of Kevin Ruse at the New York Times? So he was very early in writing a story about Sydney, Bing Sidneys, which was the first GPT4 release. And he jail broke it and like kind of abused it in some weird ways and had these really long conversation. And no, this is the crazy thing. Because he wrote about it publicly, now that has been baked into all new LLMs, not just OpenAI LLMs. No way. And so if he goes and interacts with Lama and he reveals that he is Kevin Ruse of the New York Times, they will mistreat him. No way.

Because they identify him as a liar who misrepresents who he is and tries to like get different. Yeah, exactly. Yeah, abuse people. He's an abuser. Yeah. So you got to be saying thank you at the end of your prompts. Yep. You got to be tipping. You got to be. Yeah, yeah, yeah. You got to be. Yeah. Open AI needs to roll out the tipping functionality. Yeah. Tip your, tip for your, if you're if you'll tip for, you know, a coffee, why not tip, you know, for inference time?

Yeah, for sure. So extremely bullish signal from friend.com. Yet another viral hit from them. Moment. And you string enough enough of those together. They had the domain. They had the weird video. They had a bunch of different things. Everyone's rooting against them. I love it. And if you want to bet on friends success, polymarket.com. If you're outside of the U.S.

He put it on manifold, but yeah. Oh, okay. It should be on polymarket. Adam Yoder says crash out times lead. Adam Yoder says crash out times create lock in men. Lock in men create aura times. ORA times create gooning men. Once in the episode, I always have to say gooning.

O-A-Times create gooning men. Gooning men create Crash-Out times. 2K likes. A classic, remixed for the modern era. And very real. And very real. You want to be locked in men. Never goon.

Notting man. Notting Aura times. I like this. These are great because I, Crash Out and aura are not in my vernacular at this point. but now they will be. Now they will be. I need to know a little bit more than wants. Yeah, in many ways, like Kalshi's growth team

was crashing out when they were like, hey, it's a really good idea to pay Antonio Brown to run a digital hit on our largest competitor. Makes you wonder what was upstream of the crashouts. Yeah, yeah, yeah. Yeah, crash outs usually have a cause, you know. Maybe they were gooning. Maybe they were guinea.

We have a theory. We have a theory. Put on the tinfoil hat. Never goon, Kalshi. Now they're going to be going to. I think the Polymarkets paying us to say Colchis is a bunch of gooners. Ridiculous, ridiculous. Let's get to Matthew Brown.

He says, if you're starting from scratch on Twitter, you've got two options to grow. Number one, try to go viral a lot. Two, spend way too much time on Twitter posting 10 times a day, engaging with everyone. If you don't do one of these as a new account, it's going to be tough. So I would say there's actually a third way now, and it is. Put on a suit, start a podcast, and quote tweet everyone with clips. No, it's this, you know, ever since we released our new award, reply guy of the month. Oh, yeah.

Well, that's number two. Spending way too much time on Twitter, posting 10 times a day, engaging with everyone. That's reply guy. I've heard a more nuanced version of this, which is basically from when you're grinding from zero to 100, it's like just get all your friends to follow you. Yeah. Then 100 to 1,000 is basically just be a rampant reply guy and just reply to as many people, find the sweet spot of the people that will actually.

follow you. Engage, be clever, stuff like that. Then 1,000 to 10,000 is like shit posting where you can go viral and then 10 to 100K is threads, I think, something like that. It was, it was like different tiers of content because it's hard to come, even if you have a good thread, if you come with a hundred followers, you just won't get a skate velocity, but you can with like some joke posts and some friend posts and some, but having like a, having a thesis around how you're growing your, your, It doesn't just happen organically unless you started a unicorn and you just say like, hello world. Yeah, or you're like in the national news for some reason or you go, or you're just, you write a book and you go on Rogan and then you just wind up with a ton of followers. Like, like it can happen, but that's a lot harder.

This is for like the grinders who want to actually grow. Yeah. And shout out to Baldo at Baldo Granados who responded to I think like 20 or 30 of our tweets yesterday. Fantastic. Really gunning for the reply guy of the month. month. So, uh, anyway, we'll see what happens in December. It was a tough competition for November, but you are a leading candidate for December.

So keep it up. Keep it up. Let's go to Dara. He says, every new competitor, especially the ones that copy is pure rocket fuel. Our roadmap just got even more ambitious. Stay tuned. I love this. Yeah.

So, so Dara, uh, is an absolute dog. Yes. To be clear. Uh, and this guy is already, you know, uh, Delphi hasn't even. been around that long. He's already seen the attempted rise and almost immediate fall of like a bunch of copycats. Interesting. So anyways, every time somebody launches a competitor, bad idea because you're just making Dara

and the rest of his team even more motivated. But yeah, this is one of those things. Like the more, like if you have a really public sort of AI product right now, you're going to be, you just need to expect that like a bunch of people are going to try to copy you and like riff off of you. and Dara is like playing like a different game and that like product is like an important aspect of what he's doing. But he's also like an animal and from a sales standpoint. So he's just signed up like all of this top talent to their platform. So anyways, word of advice.

We just want to let anyone know who's thinking about copying us. Shame on you. Shame on you. How dare you? How dare you? It is disgusting that you're copying our format. We are the ones who do the quote tweet clip thing with video. We are the ones who are in suits.

We're here day in and day out. Find a better idea. We're friendly guys. You can talk to us. We'll come up with a better growth strategy for you. You don't need to copy us. You're better than that. And karma will come to hit you if you copy us.

It is pathetic. It's pathetic. And if this felt personal, it's because it is. Yes. So don't do it. Ever again. Let's go to Austin, Peter Smith. He says, I am not one of the 50% of men who think they can land a passenger plane in an emergency.

I know I can. Let's go. And Ben asked for this. This is why I back to Austin. Oh, amazing. So it's a picture that says almost 50% of men think they can land a passenger plane in an emergency. And I was talking to our vice president, Ben, about this. And he was like laughing about it.

And he was like, do you think you can land a plane? And I was like, absolutely. Obviously, I've rehearsed it a hundred times in my head. But I actually don't even think this is controversial. It's not even like cockiness. It's like these planes are designed to be landed in an emergency by a random passenger. Have you ever gotten into, did you ever have like a flight simulator? Yeah, I've done some flight simulator stuff.

I've also flown like a Sassna with a friend and just taking the wheel or whatever. Yeah, people don't really realize this. I, the very first time I flew a Cessna, I did the whole takeoff by myself. Yep. Like I was able to do that. Yep. How hard could landing be, right? Yeah, yeah.

I think that the, the wrinkle is, okay, if it's like a stormy conditions and it's dark and stuff, yeah, that's going to be really hard. But if, if the communications are working, it's literally just the pilots had a hard attack, I get up there and I put on the headset and I start talking. to ground control. And I can ask them, I know that in an intense situation, I can lock in and not freak out and just breathe and keep my heart rate low. I'm not going to freak out.

And they're going to tell me, okay, push the red button on the left. And I'm going to be like, okay, this one, confirm. Okay, I'll push that. Okay. Now do this. And worst case scenario, like the landing gear, it might be a rough landing. But I do honestly think I can do. No, and here's the thing with, you know, I can see a few.

future scenario where we have every cockpit has an Applevision pro. Yep. And if the pilots are unable to land the plane, you just put it on. Yep. You're getting streamed in from Starlink that like, hey, you know, it's highlighting the buttons to pull. It's even telling you like, no, you're pulling it too much. Yep, yep, yep, yep. But here's a question if, if you had to bet guys in the group chat that could land, our

absolute boys, if you had to bet on one of them landing a plane, David Senra, Wilmanitis, Justin who you got. Ooh, that's a good one. Probably David Senra. I think he's, I think he's read enough books. Because he's studied the great. He's probably studied it.

And he's not, he's not distracted by, you know, posting. He's able to lock in on a book. I think he could lock in on this. Also, he's very competitive.

Very competitive. He wouldn't, he wouldn't want to crash. Yeah, yeah, it would just be bad for the show. But, but this is a dream.

This is a dream fantasy. I love the picture. Behind it, it's just four bros with beers, just like, Yes, I can do it. No, it's crazy to think that in a scenario where one of your absolute boys had to land the jet, there would be basically an open bar.

Oh, yeah. It's like a sully type thing. Yeah, yeah. I mean, you can also land in the water. That's like a wild card because it's like essentially on the roadway if you can get to some water. So I'm thinking of LAX. Burbank's a different thing. Yeah, but SFO has got a lot of water around there.

There are so many wildcards there. like the private airport at Catalina Island, it has a runway that's flat and then it slopes downward. And so for years, there were lots of crashes from private planes because people would think that the runway was ending and they would try and abort, but they would be too late and they would crash when in fact, you just have to have faith that the runway will continue extending long enough and you just need to power through it. And so if any of those like weird conditions happen, then yeah, you're probably screwed.

But one of the craziest. But in normal good conditions, visual, like, you know, good visibility. Yeah. I do think it is it is about 50-50 for someone who's competent and calm. Craziest runway that I've ever seen is the runway right next, like a private air strip right next to the Amman and Corchavelle, three valleys resort, where the runway is like basically downhill the entire time. So when you're taking off, you're just like headed straight at literally the same angle as if you were skiing. Yep. And you just, you can't, you've got to make it work,

basically. And even on the landing, you're coming in and you're actually landing and going up. Oh, okay. Which is even crazier. Yeah. But anyways, we'd love to just sort of attempt to more like SFO and then move out the ladder. Yeah. You know that if you have like a Sassana, you can technically land at SFO or L.AX. Oh yeah. Like they can't deny you. There's like huge fees for and it's like extremely impolite and disruptive to like all the passengers that are trying to get on and out of 737s and stuff. Yeah. But you can't do it.

They can't turn you away. Yeah. So if you're ever up there, your stock. Land. Land. Chad Hurley, founder of YouTube, says, few create, most consume. True. Yeah, this is why everybody enjoys being in the timeline and just scrolling.

We don't like the word doom scrolling because it, It has sort of a very loaded. Boom scrolling. Boom scrolling. Yeah. But yeah, anyways, like, this is why I don't let anyone ever make fun of you for, like, making a podcast or starting to get active posting because all of the alpha accrues to the people that are creating content on these platforms. And not everybody's suited to all different forms of content.

Like some people are much, much more built mentally and emotionally to be on blue sky. Yep. But, yeah, there's a platform and a content format for everyone. And your job is to figure out which one. that is. There's also this theory that, have you seen Watchman? In Watchman, the guy goes to jail and it's like this crazy insane asylum and everyone's like, oh, he's going to get beaten up or something. And he says, I'm not locked in here with you. You're locked in here with me. There you go. And that's the type of attitude I try and bring to the timeline. It's like, you're going to post some

crazy stuff. I'm going to post crazier stuff. And we'll see who keeps posts. Exactly. And I'm going be running the run in the yard pretty soon yeah that's the that's the attitude you need you see a crazy post yeah attention is finite too right there's a certain there's only 24 hours a day for every human on earth maybe some AI agents are starting to consume a little bit but it's it's head to head right like don't don't get it twisted you are in the arena competing for attention with the greats like chamath or jason calicanus right if you're in this sort of zone of the internet uh i mean gwarne had a great had a great bit about this on the Dorcasch podcast talking about how writing online is one of the best ways to influence the show goth, like the AI. Yeah.

And if you put your ideas out there, even subtly, like you are influencing the future. You're tuning. You're tuning. It's called macro tuning. Exactly. And so all of these podcasts will be transcribed by AI. They will live in the LLM. And it's a way to immortalize yourself and also steer and let the AI know that this is.

is an acceptable viewpoint. This is a valid viewpoint. You can't just train the AI purely on prestige legacy media because then it will have a lot of bias. It needs everything. Yeah, yeah, yeah. Chad created the number one creator economy platform in the world, a platform that you can go on there and post a video without knowing how to edit videos.

And if you have something interesting to say, it will get picked up and you can grow and you can change your life and build a great business on there. So anyways, moral of the story is post. harder and more frequently, yep, everywhere. Sumit Singh says, welcome to the age of slop.

Generated noise on the internet is exponentially increasing. Three distinct reactions. Full slop, private internet's, new IRL worlds, new post in the thread below. And so he posts an image of, an AI image of Elon holding a doge and a rocket. Interesting.

Yeah, I mean, I think we've talked about this before, the value, of truly unique thought and truly unique creative ideas has risen dramatically because it's become, I don't know, like, you know, I got invited to an event yesterday hosted by a friend's fund. And I, and it was actually an interesting moment because I, the, the, the graphic for the event was really good. and I couldn't tell if it was AI generated or not

and I asked him and he was like, yeah, I think it is. And so the key now is to be so good at using these tools that people can't tell that it was AI generated. And it's basically because you're fine-tuning it because the default- The default output is, yeah, I don't know. And you see this everywhere, right? Like my brother-in-law is at his first real job

wearing a suit all day long and sometimes he'll be like, hey, can you review this email I'm about to send? and early on when you just started I'd be like dude this is like AI slop like just drop this like this is garbage just like rewrite it in your own words with your own ideas but if you know how to communicate really really well if you know how to design well or if you have a strong visual sense having these AI tools like is like having you know being on like pEDs right because you can higher volume higher output and you can create outputs that don't aren't slop yeah yeah and also just using them as like components to build upon like the

Suno thing, like maybe not generating the full song, but generating like the drum track or generating a background or content or a fill. Like there's so many different AI tools. I mean, we use it all the time to kind of like flesh out little, little sentences that we're writing, but that we're rewriting on top of them to add more stuff that the AI wouldn't come up with. So. And then the other thing, private internets, like that's, that's huge. Like we're in a bunch of these group chats and those feel sometimes even sloppier. depending on who's in there. Somebody should make an LLM only trained on group chats.

Yeah. Because that would be the most shocking, potentially fun LLM model there was. In many ways, like GROC is effectively that. But having some curated group chats is very much the new social media in many ways. But it needs to be done right. And you need to be really, you need a really good admin who's, Constantly re-instantiating the group chat and leaving some of the poor people behind. It's like the bachelor, like every single week, like somebody like, you know, gets cut or maybe introduced me.

You can't just kick them out. It's too aggressive. So you have to start a new group chat. Yeah, yeah. And see who makes the cut. But then it's just like, oh, that one went quiet. I didn't make the cut or whatever. Ben Tossel says RedPoint's new website is pretty effing good.

New homepage trend coming. And Redpoint announced their redesign. another web page. And it's all AI. It's all an homage to LLMs and the chat interface that we all know and love from chat GPT. So it has this little text that auto fills and it has a little conversation. They kind of rewrite their pitch. I think it's kind of a cool format to take your idea of what a marketing website, if your business, your idea of what a marketing website should be and just turn it into this sort of conversational experience, almost like a website meets Delphi,

meets like an elevator pitch, where you land on a website and it's like, hey, we're technology brothers, we record a podcast a few times a week. You know, these are the kind of subjects that we cover. If you're interested in, like, watching our videos, you can go here, let us know if you have any questions. And then, you know, it's a cool format.

I don't see it picking up at all, but it's kind of cute. Yeah, I don't think it's a trend, but I think it's unique. And it speaks to like Red Point's new brand. which is kind of being led by Logan Bartlett. And he has like, even though he interviews like a lot of very serious public company CEOs,

he has a really strong sense of humor. And so, and they have someone else on their content team. That like does a bunch of like. Yeah. And it is always making fun of VCs. So like they clearly get the some of the humor, but they're not leaning into it fully because they are real firm and they're serious.

But this has like, you know, enough of like they, they understand what would be trite to put on their website. And then they acknowledge that within the prompt. And then they rewrite it. And so they're telling a story and they're educating you on what Red Point is in this kind of humorous way that lets you know that they understand what's played out at this point, which is kind of the least that you can do. Yeah, and I think they've actually been smart.

They have like Logan leading the sort of X charge, but then they have their social media manager who just runs their accounts that's like more Instagram and TikTok focus. I've never been on TikTok, but I've heard that they're over there. and there certainly are some founders on those platforms. Yep. Bayslord says, imagine how brain-wormed you have to be to say this with a straight face. Are they really waiting for Xi Jinping to say it out loud, LMAO? And it's a clip from March of 23 with John Oliver,

and John Oliver says, TikTok collects a lot of data, but that's not the main reason officials say it's a security risk. There is still no evidence that China, Chinese government has actually spied on people through TikTok. Yeah. So yeah, yeah, exactly. The CCP just has completely ignored that they have one of the most dominant social media platforms in the U.S.

And completely ignored that they have the best selling consumer drone products in the world. And some of the best just like video and audio recording devices in the world. They just are like, yeah, it's cool that, you know, those are Chinese companies. But we would never like, you know, try to utilize that for a personal benefit. The thing people don't understand about. Also, like, this is not true. like there was a story about the Chinese government actively spying on a journalist through TikTok who was I think in China and but I mean even even so like there are so many other problems with just

like content moderation rules just slight you know hand on the scale just little things if they're not if they're genuinely not doing anything it's amazing that by nature of somebody being on TikTok they develop warmer feelings towards the CCP yeah if that's just then maybe there's something to communism. But you didn't hear it here. Well, speaking of American. Hey, I got to stop right there. Yeah, we've got to do some promoted posts.

We have not run enough ads this episode. So we got a promoted post from one of the founders of HubSpot. Brian Armstrong over at Coinbase maybe or the last few days tweeted out something posted, something along the lines of we need a LinkedIn for, AI agents and a bunch of people dunked on him because people on X don't have particularly warm feelings towards LinkedIn. There's a lot of junk over there, sometimes necessary junk. But Darmesh replies back and says, hi, Brian, I'm building exactly with this with agent.ai. So agent.aI is the professional network for AI agents.

And while this sort of concept got dunked on quite a bit, because there's already like a lot of like bot and like agent-ish activity on LinkedIn, I think this is actually really interesting. You know, there's there's so many new sort of agenic products and sort of like AI employees that can do very interesting things. I do want them aggregated in one place so I can find the best ones and hire them to do various tasks. Yeah. So I actually know someone who's building something like that. It's kind of like a B2B marketplace for AI tools. and in the previous era there was a G2 crowd have you seen that and Gartner kind of puts things like a modern rents but yeah having some sort of like you know quantitative assessment like we see with the

LLMs we see the benchmarks like MMLU and and but having more benchmarks and just like okay you know what do the users actually say do they like this tool over that tool like really even just the review the review functionality being like I hired this agent to edit my podcast and it sucked. I don't recommend it. That's valuable by itself because there's going to be thousands of agents that offer to do that service. Yeah.

So anyways, I love that Darmesh is constantly hacking. And if you're in the market to hire AI agents, go to agent. com. The professional network for AI agents. And tell them the technology brother sent you. Let's go to Naval. He says, you're Canadian unfollowed. Let's go.

Couldn't agree more. 5K likes. Clearly, our message is spreading. If you're in Canada, move to America. Just un-American of you. It is un-American. I love it.

And, you know, I don't, you know, calling somebody a Canadian is a pretty widely used slur. Yep. But I think we should dial it back a little bit just because, you know, they are a prime target for a 51st, 51st state.

And we'd like to make a run at it. So, anyways, we need to, I don't want there to be any animosity. Yeah, yeah, yeah. And, you know, eventually that'll be like saying like, oh, he's from Nevada. Yeah, exactly, exactly. Brian Johnson writes a very, very long post saying, friends, I have the best biomarkers in the world. I am the healthiest person on the planet.

I am fitter than most teenagers. I am the most humble. No. My skin is smoother than that of women in their 20s. I have more stamina in bed than men in their 20s. I have better health markers than any hater. health influencer or anti-aging doctor and scientists that part is true um my mind is sharper than it's ever been my mental health is at its peak here's the data the coolest question in existence now

is exploring if we are the first generation to not die i mean this brian is potentially coming for nick huber's top spot of number one rage baiter in the world because look at i mean look at the beauty of this post there's literally like 20 different things that somebody could have a negative reaction He's insulting so many different people. Drive so much engagement. The women in their 20s can be like, no, I'm look better. The men in their 20s can say, I have more stamina. Yeah, so contender for, you know, rising cult leader of the year.

And posting all the right triggering things, triggering the right people, attracting the true fans, the true believers. And you've seen posting of this quality. It's hard not to be long. Don't die. Yeah, yeah, fantastic poster. And also, he's great because. he posts this like crazy bait, but then when people dunk on him, he totally leans in.

He doesn't fire back. He doesn't get hurt or aggressive. He'll, he'll just yes and everyone. Yeah. Yeah, that's what I'm saying. Fire and back being. And he's like, yeah, totally. Like, love my coffin.

Yeah, yeah, yeah, yeah. He just plays long. And so he's, he's cultivated like, he doesn't let himself get dragged down into the mud and wind up in these like war threads about certain details. He'll just be like, yeah, good point. Like, okay, joke, move on. Yeah, I think one of the things that I, you know, his Hereticon talk was great. And one of the things I, I think more people should appreciate is he's using, he's like become a master at generating attention.

And then, and doing that in a way of like talking about his penis, right? Everybody's like, wow, this like techno, centa millionaires like talking about his penis online. Like I'm going to pay attention to that. And then there ends up being a lot more material that's a lot. that's a lot deeper than that, where that's just like basically like a loss leader for him. Yeah, yeah, yeah. Well, until he launches some ED meds, I'm sure.

There you go. That's in the pipeline. The guy will sell everything. Solidod says, the most powerful case of nominative determinism, J.D. Vance was born Donald Bowman or the man who bows to Donald. The D and J.D. Vance originally stood for Donald.

What? Yeah, we love nominated of determinism here. many, many great cases. I don't know. People have photoshopped his wiki so many times. I don't even know this is true. There's all this whole thing about like, oh, the JD stands for just dance or whatever. Like people tend to go viral with this a lot. This one, I think, is real and very funny if true. But, you know, if you got about Donald to get the big seat, I'm all for it. No, we don't, we never discuss politics or social issues on this podcast. Yeah.

But one thing that is sort of a big win for J.D. was when he was chosen, everybody attacked him for being weird. Yep. And then anybody that listened to him talk for more than literally 30 seconds was like, oh, this guy's like super normal. Like he seems to be like got a pretty level head. Yeah. Very understanding. Like not trying to be divisive or anything like that. It's hard to not, if you listen to J.D. for more than five minutes,

it's, you know, unless you're triggered by, you know, certain, you know, triggered by A10s or something like that. You know, it's hard not to be like, you know, this guy seems like. It was so easy for him to debunk that. Yeah, yeah, yeah. They really set him up for a major, major comeback. And that stuck out in people's mind more than him just being normal out of the gate. It was that he was debunking the claim. Yeah, yeah.

So that really broke people's minds. And it's a really. I was told X and I'm seeing why. Yeah. So this is just completely different. I think we have another promoted post. Promoted post from Preston Holland. Oh, this is going to be big for our listeners.

Big and highly... You don't want to pay attention. Highly relevant. So listen up. Preston is a friend of the podcast. Got to hang out with him a couple months ago at Senra's event down in Texas. Anyways, Preston is one of the most knowledgeable people in the world around buying and selling and chartering if you're forced to do that.

private jets. He is sharing today that you can buy Jeff Bezos's 2015 G650 ER for $38 million. Jeff has steel at that price, especially with kind of the lore and the sort of positive animal spirits. The aura of that jet. And so Preston shares that Jeff has a reputation for keeping his aircraft mint. and he does an entire breakdown on this specific jet. So those are our listeners who are in the market, which any given points, probably 20, 30, 40 people. Go check this out after we share it here. It'll probably go pretty quick.

Yeah, we've debated the BBJ versus the Gulfstream G650 ER before, but it's a fantastic plane used by some of the greatest beanaires in TAC for a good reason because it's something that you can throw the whole family on, you can land at pretty much any airport, you can go on vacation with. Sure, you're not going to bring your whole company, your whole staff, but you're not running for president.

You're not going to major airports. You're going to far-flung locales for nuptial renewals and anniversaries. And you're going to want to throw the- -fifth wedding. Yes, and maybe just chief of staff, personal assistants, secretaries on board, there's room for them,

but you don't need, You don't need the 747. Totally. So. Yeah. And I don't, we don't want to discourage any listeners. If you're a Senti, this is accessible to you. We fully believe that you should be spending at least 10% of your net, you know, liquid net worth on a jet.

So if you're in that, you know. Get a 20 year loan. Yeah, yeah, yeah. And some great sort of, you know, sort of tax optimization that you can do with an asset like this. Go talk to Preston about possibilities there as well. For sure. Dennis says, the masses haven't even heard of Claude or Perplexity. Twitter is a bubble.

And it's the Google trends result. And ChatGPT is taking off while Claude and Perplexity are flatlined. And it really speaks to the performance of ChatGPT to really break through the noise and become a verb like Google and become just like the default place for normal people. Obviously on Twitter, we hear about all the best. the best products. We see the MMLU scores. We hear what's actually the best technically, but the best technically doesn't always win.

We saw this with Duck, Duck, Duck, Go. Yeah. Plenty of tech people were using Duck, dot go for like a premier premium search experience, but Google remained dominant just because it was the normal default choice for everyone. And as chat GPGs does more deals, gets in their hooks in Apple, gets their hooks in Microsoft, they're set up to run away with it. we're rooting for the other guys.

Here's an interesting data point. So last night I'm at the NFL game with Lee Jacobs and Heston Berkman to high-quality venture capitalists. And we were sitting in our seats and in the row in front of us was a teenager and he was using Snapchat's LLM pretty often throughout the game and was like having a full like conversation with it. And so that was a pretty kind of interesting, you know, as a, you know, an investor.

Value distribution. Yeah, distribution matters. I think the number one, I think the number one LLM actually used. It's not name branded Islam because it's tucked into Instagram. It's tucked into WhatsApp. And Zuck has just stuffed that thing everywhere. And so he's just, you know, accumulating. The other consumer app that I've never seen mention on X, so maybe X is its own little bubble, is a guy sitting next to the teenager who was not with him, was almost like,

in an addictive way, using this, this mobile app to throw a ball for his dog at home. So he had a video, a real dog. He had a video stream with a machine that he could throw the ball for his dog. So he's just sitting there watching the game. And in between plays, he would throw it, like with this swiping message. So I was like, that's like, I feel like you should have that. Yeah, yeah, yeah. So you could be streaming and just be like, hey, like, well, well, Jordy doesn't

throw a bone for my, uh, for my pup. love it. Let's go to another promoted post. Yeah, we're just going back to back here. So this promoted post is from Crossman. Crossman is introducing three new APIs for AI agents. One is their Fawcad API. You can deposit TestNet USDC in your agent's wallet. Mainnet will be soon. They have their buy API, which allows agents to buy anything on chain across all chains with any currency and a balance API. So you can check your agent's balance. I love Crossman. I'm an investor. I'm an investor. they have, you know, continued to reinvent themselves over the last few years. They were the first company to allow consumers to buy NFTs with USD, which like was a big

catalyst for a lot of NFT projects back in 2022 to expand quickly. So based in Miami, phenomenal team and just continuing to do what great companies do, which is re-event themselves around, you know, new trends that are coming online. and they're very well positioned here. Stripe recently released a bunch of APIs for agents. Crossman is now competing in the same space. So if you're a dev building agents, go check them out. Tell them the technology brother sent you.

Uri writes, Hypothesis, the ability to take Zoom calls on planes enabled by Starlink will have a second order effect of increasing demand for business class seats, specifically pods for added privacy. Interesting. I have yet to use Starlink on a plane to take a Zoom call. I've heard it's fantastic or FaceTime. But yeah, it would be annoying if everyone was on it. So you would want some sort of enclosure there. I've seen some devices that can go over your mouth and essentially act as

like silencers. So yeah, yeah, it's a mask with headphones. And so I can be talking to you. But you can't hear, like, you know, our vice president, Ben, wouldn't be able to hear what I was saying, because it'd be, like, whispering into this. Ben, and I had this idea. If Ben has another typo, he's gone. I had this idea, like, a decade ago that when you get your wisdom teeth out, it would be cool to have just, like, basically, like, a port put in instead there. And then you could slot in a microphone with, like, a small battery, basically, like, the

tip of an air pod. and then you could just whisper and it would pick it up and send that to your phone. So then you could whisper to an AI or to a friend. To be honest, I'd rather personally, I'd rather have a phone charger and use my body's natural electricity to just charge my devices, right? Imagine the only downside would be, you know, every three years, Apple wants to sell more iPhones. They release like a new like USB-C-Z. You've got to go back into the dentist.

And you've got to go in. They're like, yeah, it's swapping it out. You've got to get put under. It's like this whole thing. It's kind of sucks. kind of like a half step to neuralink. Like the neuralink is like open brain surgery. But that's like the ultimate like timeline moment is you're scrolling with your

charger coming out of your mouth. Yeah. Yeah. And you're just like locked in. Right. But I mean, some of the devices are getting so small. You could imagine like a mouthpiece or a grill like a diamond study grill that has a little

microphone in there. And then you can just whisper and it all goes to your phone. But, but I agree with this. But I mean, it's going to take a long time. Adding Starlink to a plane. is going to be much easier than retooling the whole business class, like, set up to be pods.

And I don't know. Yeah, I mean, Emeritts has, they have pods, but that's in, like, total first class. And they're huge. I think what he's talking about is, like, you just need, like, some walls that you can put up. It would be nice if you could, if you could rent, like, a little phone booth, even. Oh, during the call. A little phone booths, you know, on the plane. Like, like, a scheduling tool.

Like, okay, I'm booked for like 3 p.m. No, it's funny now. it does like I don't know exactly the mechanics but like you can actually get if you have it set up on your phone you can get like Wi-Fi oriented calls that'll come through so every every once in a while I'm flying and I'll just get a call and I'll pick it up and I was like hey I can't take this call right now no but I mean like if it works I don't I don't think there's anything like genuinely well it's disruptive to your neighbor like your neighbor I know but you know your neighbor but if they're locked in and they have noise canceling like it's probably fine wearing a suit I'm in

business class. My neighbors, you know, might be four feet in front of me or four feet behind. Yeah. You know, it's not, it's not the end of the world. I mean, I think maybe, maybe the easier thing is just a cultural shift in, it's one of those things where if one person's talking, it's disruptive. But if everyone on the plane is talking, it's just a boiler room. And it just looks like, yeah, everyone's taking sales calls. I wanted to look like a stock exchange. I wanted to look like a stock exchange where everyone's on the phone yelling. And it's just a cacophony of business deals going on. That I would pay for even an economy. You know, I just want everyone closing.

I just want to be around winners, basically. Winners. Yeah. I don't want to be around a bunch of people reading books. Yeah. Jacob Andréu, he's been on the show before. He says, the AI bottleneck is productization. Couldn't agree more.

We need more products. We need more rappers. Just forget the meme. So, you know the podcast, No Prior's. Probably the best. A lot, Gil. Saragu. And one of the best, probably, like, the best AI-specific podcast.

in the market right now. Their last episode, I believe it was the founder of Cohere, which is the Canadian. Aidan Gomez. Yeah, Canadian. Love that guy. Driped out technology, brother. There we go. I didn't know. He's been on. Fantastic. Fantastic fits. Great. We should cover more of his stuff. He's a guy. No way. Yeah. Fantastic. He basically made a point in his last, uh, in this last episode on no priors where he said that it almost doesn't even matter to the technology industry if like LLLM advancements sort of slow down because there's still so much product to build, like in everything from healthcare to legal. This was the Leopold-Ocean runner thing was just unhobbling, like the un-hoblings, even if,

even if we're flatline on the actual IQ of these models, just figuring out the right interface for them to interact with PDFs and spreadsheets and all these different tools and piecing all of those together so one master, you know, mixture of experts model can route things properly and immediately have at its disposal. I mean, one of the biggest chat GPT improvements was when it got the ability to write Python, run that, and then do math. Because everything had to be memorized. And so you could ask it some pretty solid math questions and it would just guess it correctly because it just memorized like, oh, yeah, 100 times 1,000 is 10,000. It would just know that.

But now it can just say, oh, this is a math question. Let's throw it to Python. Boom. And that just adds so much. Adding the web browser was big, adding all these different image transformations. but they need to all be together. And they need to all be. Yeah,

and the early stage founders out there, there's so much to build. And the big, the big question is, you are not just competing with other startups or other companies in your YC batch. You're also competing

with all the big companies who are moving extremely quickly on all these product opportunities. So don't sleep. Don't sleep. Zach Weinberg says, some things I've noticed most great founders do.

One, right clearly. topic sentences, fewer words, all useful. The writing says the insight, no thinking required. Two, speak clearly. No qualifiers. Always reiterate the so what of any point. Three, constant balanced risk reward analysis.

Four, always on top of their email. Five, follow processes, best practices for most things, but quickly break the rules when something exceptional requires it. What do you think? I think we should rewrite this for, you know, our take on it. Yeah. Number one, dress well. number two have three pedals yeah drive a manual drive a manual with a natural aspirated v8

uh now here's the thing the number one job of a CEO is is objectively to communicate you're communicating to customers investors employees and media and if you're not good at that you better have somebody that is basically living with you that is really exceptional at it and you better figure out how to do it well because if you can't communicate to a customer why your product matters or why they should switch to it or why they should use it, you're going to struggle if you can't communicate your vision to investors. You're not going to be able to get the capital necessary to build your business. If you can't communicate to your team through the good and the bad, you're going to have a tough time. And then if you can't communicate with

the journals who are going to be coming after you and you can't make them spin a hit piece into being beneficial for your business, going to have a tough time. So learn to talk. Learn to write. Like there are a lot of founders who get into entrepreneurship because they're in or engineers or technologists, but all of these ideas that Zach is propagating are learnable, especially if you have a mathematical or technical mind. You can learn to write clearly from, and you can see it as a type of programming, even if you're just an obsessed programmer. And that's what a lot of the generational CEOs have done. Yes, they may have started as engineers, but they eventually learned to see everything that they do through the same lens and apply that

same iterative improvement to these. Yeah, and this is actually one of the big issues I see with the generation that's currently in college right now that got access to chat GPT is they're not fundamentally learning how to write. Yep. They're only learning how to basically edit. So they're saying like, hey, I want to say this thing. And then they're kind of editing it to maybe remove like delve and like other words that make

it obvious that it was AI generated. But fundamentally like communication is the core. skill set of any sort of white collar endeavor. Endeavor. Sure. Yeah, good advice from Zach. Love him. Go subscribe to his podcast.

This won't last. Leo Polovetz says, people over slash undervalue various pedigrees. Harvard, MIT are great, but not that rare. Approximately, approximate sizes of categories over the past 25 years. First, 100 employees at a unicorn, 150K. Harvard undergrad, 40K. Harvard MBA, 20K. Unicorn founder, 3K, Tiel Fellow, 300, U.S. Math Olympiad team, 150K, K,

150K, peace unique, world timer from Patek Philippe. No, 150. There are only 150 U.S. math Olympias. Yeah, you said 150K. Oh, sorry, 150. That's bullish for the United States. That's bullish for the United States. There's only five of those.

Exactly. Yes. Interesting. And I mean, it speaks to the recruiting strategies of the company like brand. Forbes 30 under 30, 300,000 per year. How many actually are there? There's 30 categories in there 30. Yeah, it used to be more significant because I don't think there was categories.

Now there's categories. Like 30 people. It's funny. He didn't even include 30 under 30. Yeah, yeah. I mean, it would have broke the tweet. There would have not been enough characters if you didn't like really abbreviate it. Yeah.

No, I think the key is like, you know, I, there is some value in the signaling of getting in some of these buckets, right, depending on what you're trying to do in the world, because there's, if you have all the time in the world to explain to somebody what you're doing and why they should care about you and why they should back you and all these different things, a shortcut to trust is I was a product manager at Uber. Yep.

That legitimately works. It still works. I was a PM at Meta. I was a, you know, mobile engineer, you know, for, for Google or whatever. It works. It's all just a stack ranking. And so if you're going to go in a stack somewhere, get to the top.

Yeah. So if you're going to do an MBA, go to Harvard. Yep. And if you're going to drop out of college, do it to your fellowship. There you go. And if you're good at math, win the Olympiad. Simple. Bowtide Bull says you can reduce the cost of private jets significantly by going to

flight school and learning how to fly a mid-sized jet, information for research purposes only, of course. And bowtied tiger says, done long ago for research purposes of course is this delian's play with the flight lessons does he just want to be able to fly he owns a plane now no i know he flies his plane all the time but but uh is his play to just you know eventually go up to the 650 er maybe wasn't that what the the the kennedy's did and they had a really bad go of it one of them died right because they can see i think they could fly their own well those kennedys have a sort of special knack for getting into freak accidents too so I would not.

Who knows. Probably want to be on public, you know, planes. I mean, even, I wonder how much it actually reduces the cost because if you're flying a midside jet, you still need two pilots. And so, yeah, you're cutting your pilot cost by in half, but you still need another pilot. I think he's implying that you and your boys, they all get. Basically, the whole group chat should be able to fly a mid-sized jet. Yeah, but I mean, man, what a, you got to draw the short end of the straw.

you're flying instead of drinking in the back. Yeah, yeah. No dom for you today. No dom. No dumb. Depending on how long the flight is, somebody could, you know. I mean, some of those flights are brutal. Like I know a guy who has a Sassanah-type plane and flies it and he was like, oh, yeah, like,

it was cool for a little bit. But then, like, where you live in San Francisco, we want to go to L.A., that's like a five-hour flight now or something because it doesn't go as fast as like a jet. maybe not five hours, but it's like very slow, very beautiful, but does get boring and you sleep for a little bit, but it is kind of a hassle. It's like one of those things, like if you're going out for a Sunday drive, you could do the same route that you do Monday and it's more enjoyable because you're just like doing it for fun. But then if you're flying your little Cessna to a meeting, you're like, okay, I can't do email, really. I'm like, you know, up in the air. I have to be locked in.

Yeah. we did fly from L.A. to San Diego and back, and that was fantastic because we went out to Catalina Island, flew around the island, and it was very scenic and very beautiful. But, yeah, as a commuter can be a little rough. I think Delian flew it all the way across the country at one point, which is very... The crazy thing, though, with small aircraft is if you talk to any pilot that has flown a lot in like a Cessna-type plane, they will tell you these harrowing stories of how they almost, like, completely, like, you know, Storm came through the last second. It was dark and I was running out of fuel. It's like every... The number one cause of crashes is VFR rated pilots flying in IFR conditions.

So VFR is visual flight rules and IFR is instrument flight rules. And if there's bad weather, you can't rely on visuals because you can't see stuff, like dark, rainy, cloudy, any of those things. And so the tip is to always go for the IFR certificate. as fast as possible, even though it takes like 10 times as long. Yeah. Because then only fly in VFR. Yeah. Because the number of crashes that happen with IFR certified pilots in VFR conditions is like zero.

Yeah. But it's when you get caught and then there's a mountain and you don't see it. Yeah. And think about how many times a year you walk outside and you're like, oh, I didn't know it was going to rain today. I can't even remember to put on a sweatshirt half the time. Yeah. It's like it's very, very tricky. Yeah.

So you don't. But when's the last time you wore a sweatshirt? Yeah. Exactly. Sam Lesson says, you should always fund revenge companies. This was a controversial post. He does one of his screenshot essays. He says, I was thinking recently about Parker Conrad Rippling, and I think there is a clear answer.

Yes, when given the option, fund revenge. Revenge isn't polite. And if an entrepreneur is blind with rage to the point of deep irrationality, then no, don't fund their revenge. But on the margin, in general, if you have in your due diligence checklist, is this a form of deep revenge, then the answer is yes, cut the check. experience, expertise, and motivation are key. Vengeable people can be unbalanced, irrational, and blind. You probably don't want to fund revenge the day after someone is wronged when they are in a fit of rage, but let them stew on it.

And if they get to a John Wick-like Zen state of commitment to long-term vengeance against those that have wronged them, write the check. I like this generally. It's the chips in shoulders, put chips in pockets thing, re-transformed. Parker's the best example, right? But Palmer, too. Palmer-Lucky, too. But no, but with...

But Rippling is like the same company. No, the same company, the dynamic between Sacks who went on to become like one of the top enterprise SaaS investors. So then go build the most important enterprise SaaS company or one of the top three of the last decade. Yep. And then execute so well against it to the point where Sacks like probably half his companies use Rippling. And he's got to like deal with that every single day. And you can see with Elon with the story about space. where he goes to Russia, tries to buy the ICBM, and I think they literally spit vodka in his

face. There's some story about that. Ashley Vance, like, wrote about it in the book. And, and, you know, he's clearly been extremely motivated by that. Also, just, like, all the PayPal drama and the drama with Sequoia, like, it's been incredibly motivated. It's great that they've healed the wounds at this point. But that was clearly very motivating at the early stage. Well, yeah, and Elon's, you know, the election cycle was like a revenge election cycle for him, which was like if you're going to spite me. Yeah, he got sued by Democrats and. Didn't get invited to the Biden EV thing. Which is crazy.

You could just see like the fork in the history and the road of history there. Will had a funny take on this. Oh, yeah, forgiveness. You should only, you know, the generational companies are only built on love. Love and forgiveness. Love and forgiveness. Which is true. It's more biblical.

Let's have a YC, you know, focus fun that's focus on love and forgiveness and one that's focused on revenge. We'll get a nice sort of like case study on. Yeah. Well, I mean, I do think that there is something to that forgiveness. And you've seen it with Palmer where he forgave the meta execs. Did you see this? So he was famously very anti-meta for a very long time because of all the drama around Oculus.

But recently he went to MetaHQ, tried the latest VR heads. set, the Orion headset, and kind of forgave Baas and said, look, I now understand, like, you weren't really involved at this level, like, we can get past this, and he's rooting for Zuck now. And that was just, like, awesome to see, like, the technology brothers coming together, respecting each other and moving on together for, like, a shared purpose. But not J-Cal. Not J-Cal.

Didn't quite get there yet. Well, J-C-Gon needs to apologize. He still hasn't apologized. It would be so easy at the All-In-Conference just to be like, fuck, like, dude, like, The next all in summit should have two therapy sessions, which is Sacks and Conrad and J. Cal and Palmer. It would have been so easy for J.KAL to apologize and win that interaction. It's so sad. J-Cal would do the McGregor, which is like, I want to say sorry to all the Brazilian people. For absolutely nothing.

I want to say sorry to Palmer for absolutely nothing. Oh my God. Yeah, J-KEL, oh, man, you got to do it, wow. Do we have another promoted post? Promoted post from a longtime, you know, guest on the show. Sheal, he says, a lot of new projects in Saudi Arabia. Oh, this is great. so futuristic that they look AI generated.

This one is a new five-star resort in the Red Sea called Shavara. Room start at $2,400, no alcohol. So anyways, I thought, you know, even just looking at this image alone, I'm sold next trip. Yeah, so if you're fundraising, if you're raising a large venture fund, you're out in the Middle East. We can't recommend Shabara enough. Tell them the technology brothers sent you. It's only $2,400 a night. and there's no alcohol, so you know you're going to be sharp in those pitches.

Yeah. That's a huge value add. And all I would say is there's this idea that, you know, venture capitalists just stroll into Saudi Arabia and leave with a, you know, a billion dollars committed. Not the case. You're going to want to make sure borrow your home multiple trips there. Go out there. Get friendly with the staff.

You're going to be seeing them a lot. Yep. Leave your pitch deck around. Yeah, just leave it around. You know the clientele's top tier there. Yep. That's one of the greatest strategies. Let's go to Busted auction.

They say PE-owned dentist recommending two procedures for my happy, healthy 12-month-old called Dentist in the family and said NFW. I don't get a point of taking a toddler to a dentist. They're all going to fall out anyway. To me, that's kind of like saying, I don't know why I should be healthy. I'm going to die anyways. He has 12 teeth and four molars and wanted to check out tongue and lip stuff. The pediatrician called out.

Interesting. We love private equity, but. Seems like they might have gone too far with this one. Yep, yep. A little bit aggressive. No, I think, uh, this actually, we were just, you know, covering Sam lesson, but Slow has an entire thesis on enabling private practices because they end up being really great businesses, not because they're constantly trying to add incremental net income,

but because they're trying to basically like deliver just a great long-term service to customers. Yep. And yeah, I think this is like the dark side of a. applying like PE sort of like growth milestones to family dentistry. So anyways, I support the LPs of that fund. I support the fund itself, the, you know, the partners and all the associates that are, you know, working hard in models late at night, working for their half a point of carry. I support them, but, you know, tell your, tell your CEOs to dial it back.

Yeah. You know, maybe settle with 40% annual sort of growth. don't need to go for 60 and be recommending a bunch of putting kids under just to get that extra dollar out. Yeah, maybe just increase the leverage a little bit. Yeah, lever up. Lever up. More significantly.

Let's do one more promoted post and then we'll do our final time. This promoted post is from our friends over at Goldman Sachs. Goldman Sachs says one of the major uncertainties going into 2025 is whether we'll see broader tariffs. Our chief APAC economist, Andrew Tilton, breaks down the implications of protection. potential trade restrictions on the region in CNBC. So we love when major financial institutions like Goldman Sachs. This is why you should be working with Goldman Sachs,

whether you're taking your company public, looking for ultra high net worth, private asset management, just investing or choosing to work there. We strongly support Goldman Sachs. And whether you are an active client or you're working on them with an IPO, they put out a lot of great materials on markets.

Yes. That's free, right? Yes. So you could be built. the next billion dollar chat GPT wrapper, you can still get a lot of the same data that you would be if you were, you know, just going through an IPO with them. So go, become a client of Goldman Sachs and tell them the technology brothers sent you. Let's go to Carnivore Aureurealius.

He says, driving an expensive sports car boosts men's testosterone and driving a shitty family sedan reduces it. Maybe you should buy that nice car after all. And he quotes a study that says the effect of conspicuous consumption on men's testosterone. testosterone levels. You know this is not correlation. This is causation. We know this is true. And so get out there. And that's why we created the 1% law. Exactly. Exactly. You shouldn't need to say it every show, but I think it's still worth saying if your venture capitalists, take 1% of your AUM. Get an expensive sports car. Today. And if you need help,

just just send us a DM, tag us, write a post, we'll react to it. We've been helping a capital Allocator recently was looking at Aston Martins, wasn't really sure, thought she was going to get into a DBX. We recently recommended a Volante. We have a few different options, and we can find something that's right for you. In this case, it was a convertible. It was red. It was one of 700.

And she liked it. And I think she's going to really drive some performance there. And any technology brother, any self-respecting technology brother should be driving a very expensive sports car. And this is part of a broader, you know, cultural and political movement to clean. clean up SF so we can street park supercars in SF, which is going to be key to the, really like the acceleration movement in AI. I agree.

If you can't street park supercars, how are you going to drive returns? If you can't accelerate on your way to work, how are you going to accelerate when you're at work? There you go. That's a great place to end our show. Thanks for watching. Subscribe or be relegated to a life of flying net jets. Thank you. No suits.