TBPN - Netflix’s Next Move, Zuck’s $170B Florida Mansion, the Billionaire Tax Push | Diet TBPN

Episode Date: March 4, 2026

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

Film is the process of capturing images digitally or using celluloid. Do you know that's celluloid? No, this is right, right? The filmmakers in the back now. So you used to need a specific chemical process. You'd probably be very hands-off on this process, but You used to create a strip of film with the thin clear and you put some chemicals on it and then when light hits it if a lot of light hits it it makes it black and then that's the negative and then they flip that around by shining light through it to then expose the final picture. And then you get a beautiful movie that you get to watch at the cinema. Interesting to know how Netflix will change their tune on theaters.

So Ted Sarandos has been basically trash-talking movie theaters for a long time, being like Netflix is the future, tech is the future. He hasn't been super rude or anything, but he's been like, it's not really key to our strategy than as soon as he was in the deal for Warner Brothers, he was like, yeah, the theater's amazing. It's not going anywhere.

Netflix is up 22%. Oh, yeah. The shareholders hated the idea. They hated the idea. Love. Yeah, market loves getting your enemy to overpay for a handful, a basket of legacy assets. Yeah. There is another thesis on why Netflix stock has mooned.

And it's mostly around this concept that Ted Sarandos just stunned in a pair of jeans at the SAG Awards. So look at this. I mean, you see this. How can you not want to buy the stock? This is not financial advice, but you see a guy pull up in a fit like that. You're like, this is gonna moon. I gotta get in. I'm going turbo long. I'm top lasting. You're buying the dip. You're top lasting and you're buying the dip when you see a man pull up in $2.8 billion jeans because that's the amount of money that Netflix got wired because of this deal. That was the breakup fee. There's a ton of debt going into this deal. Will I be able to watch the sprannas on Netflix? Will I be able to watch the dark night on Netflix? It's a

complicated question because content licensing deals are not they're not one-size-fits-all they're subject to windowing and certain markets so if if Netflix has really high penetration in Germany and HBO doesn't it might make sense to license it there but not elsewhere but I just want to know broadly like what what do we expect from Paramount Skydance Warner Brothers Discovery CBS CNN like what is their I think they have Shark Week now right that's in They got the food network, HGTV, HG, you can watch the Property Brothers, maybe on Netflix one day, who knows. But this is like the most extreme scenario.

We talked about a post where someone was like, oh, like, you know, masterful 3D chess, they got, Netflix got paramount to overpay for this, and now they're going to be so indebted because the deal got so big that they're just going to have to come to us and license 100% of the catalog on day one. I don't know if that's true, so I wanted to dig into it. Let's talk about it. So just to recap and set the table, David Ellison, who is the chairman and the CEO of Paramount Skydance, agreed to raise his offer for Warner Brothers Discovery to $31 a share. A lot of people, myself somewhat included, thought that Netflix was at least going to counter a little bit, but they folded immediately. So the co-CEO's Ted Sarandos and Greg Peters, they didn't counter, and they said, you got it?

Why are us the 2.A B? And they did. So the result is that David Ellison is handing over $11 billion dollars in the United States. exchange for Warner Brothers, HBO Max, CNN, and the other cable networks. There was this whole political angle in DC about how interested would Trump be in the deal? And apparently, as soon as he found out that Netflix was not interested in the cable TV assets, he became less interested in the deal because I think he watches a lot of news, but he probably doesn't watch a lot of Batman reboots and doesn't really care what happens there.

And so, you know, it's just like a different thing. It's like, you know, he's not turning on the latest DC cinematic universe. film and be like they're taking shots of me but if he turns on CNN and they're taking shots of him he's like I care about that right so in terms of the financial situation they're levering up they took our advice when we started the show we told everyone rule number one is lever up and they did so Paramount is already levered 10 billion to the guild debt yeah to the gills 10 billion of net debt it's like 13 billion but they have 3 billion in cash so 10 billion in net debt

3 billion of adjusted evadda with which to service that debt reasonable, but still pretty high leverage, 3x. Paramount will be adding 60 billion of debt, so all combined the company will have something like 70 billion of net debt, 79 billion of total debt, with roughly 12 billion of adjusted EBITDA. When you're operating north of 6X leverage, that leads to different decision-making.

Higher discount rates, higher interest rates, it can shift the focus to near-term cash. So Netflix is a logical counterparty here, because it can pay, it has the cash, it has a lot of cash flow, to pay for global rights at scale and has a long history of paying top dollar to deploy capital to known franchises. And also, Netflix is in a particularly interesting financial position. So they've been an incredible case study for operating leverage, a true overnight success,

something like 20 years grinding up the subscribers, grinding up the revenue, investing more and more in content. And if we can pull up the chart, you will see the small. bars the red bars are the revenue and the little dots that have the numbers on them which you can't really see show how much they're investing in content and so for a long time for something like almost from 2002 to 2018 so 16 years Netflix was like we made a hundred million let's make a hundred million dollars with the content let's buy a hundred million dollars with content and then they were like

wait we made a billion dollars you're never going to guess what we're we're going to spend on content, exactly $1 billion. And then they were like, okay, we made $10 billion. This is going to shock you, but we're spending $10 billion on content. And so they would just spend exactly what they made on content. But that changed. That changed in 2019, 2020, COVID, the amount of subscribers spiked, the amount of revenue spiked. Then they launched the ad model.

It took them a while to figure that out, but eventually worked. And the business kept growing, the top line kept growing, but they ran out of stuff to buy. They ran out of stuff to make. And even though they were paying, you know, top dollar for all these different assets, they sort of held their content budget flat. Their revenue went up, and that's, of course, operating leverage. So profits to pay for Warner Brothers Discovery assets, potentially. And so they have the money to spend, but also their direct competitors in streaming with Power Mount Plus and HBO max.

And so there's a question about how friendly will they be? you know, if you license all the good HBO stuff, the people want to unsubscribe of HBO. Yeah, or Paramount. Or Paramount. Yeah, exactly. It just makes the Paramount subscription offering less competitive. Totally, totally.

There's potentially the idea that regulators might attach a condition to the deal, or at least signal or put pressure, that the combined entity should maintain its tradition of licensing and selling content. Yeah, Lockland yesterday said, this is Fox. CEO of Lachlan Murdoch expects that regulators will impose a third-party content licensing condition on Paramount and Warner Brothers Discovery's $110 billion merger. He said we wish them the best of luck. We've seen this regardless of whether it was Netflix acquiring Warner Brothers Discovery

or Paramount acquiring Warner Brothers Discovery. There will be conditions put on this transaction, which would require a producer of that size to continue to sell their content to third-party platforms. This was yesterday. I ballparked it at like maybe 70% chance that in the... next two years there's some sort of meaningful content licensing deal between Paramount Warner Brothers Discovery and Net but I do think that there will be limited windows some selection in markets where content is available and pretty much

everything will be non-exclusive so the real key brand assets like the Sopranos and the DC universe properties those are much less likely to be to be licensed and there's basically no world where Netflix gets the first streaming rights to like tent polls you want to maintain those you want to give the super fans a reason to stay subscribed to begin a subscription on your now two streaming platforms. There is a lot of potential upside for the Ellison Empire. I think of this like buying a house and then getting a roommate. Like you're levered up, you got a crazy mortgage. That's such a good

example. Right? You buy a house. You live in large, but but you got a roommate. Yeah and the roommates Netflix and they're paying the rent to you you pay the mortgage. And you kind of hate your roommate. You kind of hate your roommate, but but your long the real estate market and then as you get promotions as you get more cash flow as you get more adjusted evita you can pay your mortgage and as you pay your mortgage down you wind up with a really cool asset which is this nice house that actually has the extra bedroom they're like look we had a good run I really love the way you would put dishes in the sink and not do them I really love the way you would watch movies loud into the night yep and yell but I think it's time it's time for you to move

out and I'm going to take the mortgage myself I'm good for the full the full bill every month. I'm good. But there are a lot of similarities, right? Because what are you getting with Warner Brothers? You're getting a whole library of IP that's very valuable, potentially for like a hundred years. And so if you believe that intellectual property will have a very, very long lifetime, lifespan, and it's incredibly valuable, but you have to finance it with debt, you have to work really hard to pay the bills in the short term. You can wind up with a really great asset, even if you have that roommate for the short term. The other interesting question was, What does this reveal about the Ellison family's worldview for the future?

On the one end of the spectrum, you have Larry Allison, who seems incredibly AGI-Pilled. He's going crazy into AI data centers. You disagree with this? Well, I think remember, I think we did like the chart of who's the most AGI-I-piled. He needs AGI-I versus AGI-I-pilled. So he needs AGI-I, but he's not AGI-I peeled. Why is he not AGI-I-pilled? Oh, just because of his rhetoric.

He just doesn't do that many podcasts. Get him on Dwar Cash. Yeah. We'll see what he says. Maybe his timelines, like ASC. next month you know who knows yeah he's like you need to sit down your family today obviously very agey I peeled does he have a Mac Mini that's the real question funding data centers is is generally aligned with a future where AI is an important

technology yeah levering up massively right yes levering up with his air is gonna be big right yes yeah exactly he believes AI is gonna be big but then he also believes or you know in concert with David his son believes that that AI will not destroy legacy Hollywood assets no matter how many dollars you have no matter how much compute you have, no matter how many generations you can use the latest video model, you will not just to be able to create a, you know, a superhero that kids will dress up as at Halloween. And I think that's true. And I believe both of these. You don't? You're going to be dressing up as Slot Man next next, next Halloween. Look at Slot Man. You're going to be like,

oh, you don't know this superhero that I prompted myself and no one knows but me? It's a, it's a highly, don't you know the internet's highly personalized now? You can dress up as like a superhero who has like these black ears and like looks very similar to Batman, but it's not Batman. Not the non-IP infringing Batman. Literally describing slot man. Yeah, Slot Man. You're going to dress up as the knockoff, Slot Man. So maybe that's not your worldview, Tyler, but it's clearly the worldview of the Ellison family.

Because they believe in this barbell effect. You know, another way to look at it is like you could get this hyper-personalization, but it could be around existing IP. So you get to watch a personalized version of Batman content that's targeted just for you individually, but the kids are still dressing up as Batman. And we've already seen a glimpse of this with video games. There are video games that leverage existing intellectual property, but allow you to customize your character in some way. Put more skill points into intelligence and cast spells versus strength and use a sword, right? Like, you can have your own experience if you play, even like the Arkham Batman series, it's pretty linear, but you can play it more aggressively. You can play it more stealthily.

And that allows you to experience something that is unifying, and we can discuss, okay, you played the same game as me. You understand the same character as me, but we had a different experience. And I think AI accelerates that and makes it more, more valuable, not less. This is the ninth or tenth time that Warner Brothers has changed. changed hands since it became an independent movie studio in 1923. There's some of those acquisitions that have been like divestitures or reorganizations within other companies. But I do think that David Ellison is gonna go

the long distance with this. I think with a little careful financial management and probably a few content licensing deals like this might be the last one. He's been working in Hollywood since he was a kid and has been very dedicated to this particular industry. for a very long time. And so I don't think he's going anywhere. And if you are inspired by the whole Netflix Warner Brothers saga, you should head over to the Goodwill in downtown Brooklyn. Tom from Vanity Fair

says for 1499, you can Zazlov max this spring. They're selling a nice Port Authority Huffer vest from Warner Brothers Discovery. That is a good pickup. Zazlov is a deals guy, Hall of Famer, for sure. According to the Washington Post, There was a researcher skeptical of Havana syndrome. So he tested a secret weapon on himself. In 2024, Norwegian researcher skeptical that pulsed energy weapons could do damage to human brains, built a device and tested it on himself. It didn't go well.

Built it, tested it. Working in secrecy, working in strict secrecy, a government scientist in Norway built a machine capable of emitting powerful pulses of microwave energy. And in an effort to prove such devices are harmless to humans in 2020. he tested on himself. He suffered neurological symptoms similar to those of Favana syndrome, the unexplained malady that has struck hundreds of US spies and diplomats around the world. Yeah, we don't know how to make scientists like this anymore. Glad they're still out there. Extremely bullish for the tinfoil hat

industry because I believe that the the the actual underlying basis for the idea of a tinfoil hat, of course we use it somewhat sarcastically here when we're discussing hypothetical conspiracy theories, but the tinfoil is supposed to eliminate microwave radiation in various EMF pulses. And so if you're worried about getting Havana syndrome, maybe pick up an EMF proof tinfoil hat. Thomas Maxwell says we have to stop this. I'm not eating a quote Jacob. Eat a Jacob. I haven't seen this one before. It's 20 grams of grass fed protein, no seed oils, nothing artificial, sweetened with organic honey. Definitely resonated. 24,000 people agree. Tyler, you should you should do a taste test of all the different

protein bars. All the bars named after just regular dudes. David Barr, the Jacob bar. There's probably more. You got to get on it. Lucy, named after a person. It was a whole trend for a while. Cursor would like a word. Yeah. This was staggering. This was great. They came out yesterday. They had heard the FUD on the timeline around cursor. They came out yesterday and Bloomberg got some of their data. Their annual revenue top two billion in February, according to a source, a figure that underscores the fast growth of the coding assistant. Sasha summed it up well. He said, Cursor sees the timeline turning against them, quietly give Bloomberg a two billion air press release, no post from the company or founders, haters squash, true comms, masterclass. Michael Truel

actually did come out this morning and says, we believe Cursor, discovered a novel solution to problem six of the first proof challenge, a set of math research problems that approximate the work of Stanford, MIT, Berkeley. Cursor's solution yields stronger results in the official human-written solution. Notably, we used the same harness that we built a browser from scratch a few weeks ago. It ran fully autonomously without nudging her hints. For four days, this suggests that our technique for scaling agent coordination might generalize beyond coding.

Very, very cool to see the progress from them. and clearly doing something right in the enterprise, right? Just because everything that you see on the timeline is like so many, so many enthusiasts. One of my buddies is Kyle Russell. I worked with him like a decade ago. He's at a company called Valen. And he posted, so Valen, they make SaaS for mortgage services. He says it's very boring, but we're basically getting them all to flip from legacy software.

and a rate limited by biz ops people being able to onboard them. So we're going to try instead to think about it in terms of what tokens do we need to extract from the org in order to deploy fast. So he's in this like AI deployment lead role and he went, I think pretty viral saying this morning one person of his team said, hey, can you unsub me from cursor? And somebody says, done. And then a bunch of people said, same, same, like I don't need it. I'm like I'm happy with another program. And Kyle said, today we announced we're removing 90 cursor seats because they haven't had any use in two weeks.

And it is like it's flipped from like the most cutting edge thing to like it's clearly very sticky because you see the ARR numbers that this like ultra frontier coolest hottest thing is getting some like fud. And then Sasha broke this down where he was like the timelines turning against them. So you have to provide some evidence that like you're not cooked because like the timeline. line is very much like, oh, well, like, you're not the hottest thing anymore. You're not the coolest little thing for like the people that are on the most frontier. Up from one billion in Q4, which is, which is just insane. Yeah. And so, yeah, I mean, I think like there's just something about, goes back to diffusion. We were, I was debating this with Tyler last night about, you know, how much of how much of AI adoption is just actually getting the forward deployed engineer in, actually getting people to change their workflows,

onboarding like there are there are certain people that will just bounce from the most frontier thing oh this model's better I'm on codex I'm on Cod I'm on Codd I'm on clock back and forth but for a lot of companies they need a little bit more hand-holding and so there's a whole massive chunk of the economy that can be transformed by developing great products and then actually getting them in the hands of businesses well in some good news Mark Zuckerberg has purchased a mansion in Miami for 170 million dollars this was such big news that we had to pull it forward from the mansion section on Friday. Let's talk about

today. But there is a little bit of a black pill here. We can go into it. So of course, Mark got this because of California's wealth tax, which if it goes through, he would still be subject to at least a one-time payment, you know, which would get litigated, of course. What we need now is a picture of him in his backyard, recreating the Ben Affleck smoking meme. Why? Because there's this new national wealth tax that rocana and bernie sanders are pushing so he's like he just he just moved he just got this new place across the country yeah probably overpaid to to to a degree people are just going to be like actually i live in international waters full time i don't live on i don't live in america i don't live in any country actually yeah i live in space i live i live on the international space station

or something 170 million dollars sound staggering by a 5% tax on mark secretary's wealth over 11 billion dollars that should have been his shopping budget because in in dude math if you save money you just have a free license to spend it so you're like by moving to florida i'm i'm effectively saving myself 11 billion i can spend that right isn't that how that works exactly met a chief executive mark Zuckerberg and his wife priscilla chan have paid 170 million dollars for an under construction mansion on miami sought after indian creek island the deal closed monday the purchase set a record in one of the country's most expensive to date. The current U.S. record is held by billionaire Ken Griffin. He spent $238 million for an apartment. That is a crazy amount of money

for an apartment, but I guess it's in a good building. There's a lot of apartments. The Florida record was set last year when a waterfront compound in Naples traded for $225 million. I feel like this isn't counting Ken Griffin's compound that he's building because he's building. Yeah, because it's multiple properties. He's bought multiple properties. Okay, here's where it gets crazy. Tell me. Sellers are Dr. Aaron Rollins, a cosmetic surgeon to the start and his wife, real estate agent, Marine Rollins. The Rollins is paid more than $30 million for the roughly two-acre site in 2020.

Wow. Flipping. Not a bad. I mean, real estate agent, don't want to go up against them. They know what they're doing. Plans called for a nine-bedroom home measuring about 30,000 square feet with a dock in a swimming pool. Yeah. Amenities were to include gym, hair salon, a massage room, as well as a 1,500 gallon aquarium, and library

with a secret passageway. Zuck does need a hair salon in his house because he's always changing his hairstyle. Sometimes he's got the Caesar going, he's got the Fro going. He's got the Gen Z. This is elite for him. Who knows what will go next?

Maybe I'll have long flowing locks like Fabio. Credit where credit is due. China really nailed the Bonn villain aesthetic with their Antarctic research base. Quinling, Chinling. Okay, these are just renders, though, correct? These are renders. This is what they're thinking about building.

Because if it was real, I'd be telling Tyler. get a boat immediately. Tyler was in Arizona over the weekend and sent us a very cool picture of him out at TSM. Yeah, give us a review. Did you feel the power? Did it feel like visiting Iraqis? Yeah, it was like 91 degrees.

Extremely hot. It was massive. Mass facility. They're still building. There's like there were two kind of main sections. I couldn't actually tell like what parts they were. There were signs. There were a bunch of fabs. I think I took a picture next to like Fab 21 or something. But there's like, there's so much building going on.

And it's just like, it's basically north of Phoenix. Yeah. And so there's like 10 mile radius where it's just like basically just empty land. They're flattening the desert. Whoa. But yeah, very, very cool. Giff shop. No, they didn't let us in.

There's like a ton of security around. At every gate, I want to like go in and like take a tour or something. I want to get a wafer that didn't make it through quality control and get some of the chip, the chip CEOs to sign up. Moving on. The, what is it? The billionaire tax has gone national. Bernie Sanders is proposing bringing it to the United States broadly at the federal level.

Bad news for everyone who migrated to Miami or Florida, because it is going to follow you wherever you go. Rokana and Bernie Sanders are proposing a national wealth tax on billionaires going even further than California. They want 5% unrealized wealth tax to be annual. Every year. Every year. That would be... And I've seen some people running the numbers on like, oh, if Jeff Bates, if this tax had been in place since 1999,

Jeff Bezos would still be worth $61 billion and he could still afford his $500 million megajot, just like not actually like processing all the negative externalities of something like this. So, yeah, I just, I just turns Amazon into like a, like a P.E. backed like shell pretty quickly because you lose control, right? Yeah, that or Amazon never even gets. the level of investment that it got because of capital flight. I would be so much more sympathetic to Rokana and Bernie Sanders on this if they had like, here's five case studies where wealth taxes worked. And like they can't come up with a single one.

Yeah. And so it just feels like... 50% over 10 years. That is a lot. But the implementation of this tax would ultimately create wealth flights as Chris with Wethins. The wealthy are wealthy because the, They fight to preserve their wealth. So in year one, the base is already decimated.

Then every single year afterwards, the remaining billionaires leave or hide their assets. Meanwhile, the markets are all declining all this time because they see that America has been infiltrated by wealth-thruing communist. Chris is not a fan. There's something like $8 trillion of billionaire wealth and 160 to 170 of middle-class wealth. So that is the real prize pool. And again, hopefully, hopefully. are lawmakers and voters process how ridiculous this is. And reject it.

Write the balance sheet of the US government. The market is only down 0.08% year to date. Things must be really calm, right? This is actually crazy. If you asked me whether the market was and I hadn't looked, what is this from? What movie is this AI or something? This is the crazy scene.

I really like, this is a good meme template. I haven't used this before. Is it from Maze Runner? Oh, maybe. Maze Runner. I don't know. Doomer says the past looks more like the future than the present does. Let's pull up.

What is this? PM's Phoenix, an expandable van you can build for $2,000. This is sick. Most campers and vans these days that are roomy enough to live in are too large for comfortable driving. Conversely, the compact, fun, drivable rigs are usually too small to live in. And no matter what its size, the seller will probably want all the money you have now, plus of what you'll make in the next five years. This is a good copy.

So this was in popular mechanics in 1978. This is a good daily. Someone should pick this. Built on a Volkswagen minibus chassis. I like that they restyled the front cab as well. A carpenter back end looks pretty similar. But it still feels odd to take an electric vehicle into the wilderness. I don't know why, because it's not like you're bringing a bunch of,

there's a gas station out in the middle of nowhere, but this would give me range anxiety, even though I think that's deeply fake at this point. New model alert. New model alert. What we got? Introducing Logan's introducing Gemini 3.1 flashlight, a huge step forward on the boundary of intelligence,

beating 2.5 flash on many tasks. Tyler, you should try to do a speed check. OpenAI also came out this morning with 5.3 instant. Okay. Touting increased accuracy. Is this in chat GBT? Because I feel like I've had 5.3 in codex, but not in, but not. Oh, I got, yeah, I have 5.3 instant in chat GPT.com now.

Interesting. I do not yet. Very cool. Calci partner with Bezell. Oh, yeah. To allow people to trade price movements of. iconic watches. So we can pull up this video. This basically allows you to trade on what the, on the prices of Rolex is for the month of March, basically. Is price going to move up or down?

So Quaid over at Bezell has been telling us about this one. So you could, you could in theory, buy a watch on Bezal and then take out a short position on Kalshi and have a market neutral submariner or something, right? Because if the price goes, up, you own the watch. It's a market neutral. It's market neutral. Because if the market crashes, you make money on Kalshi, but you lost money on the watch and you're neutral. You can hedge yourself now. That's very bizarre. Yeah, I saw somebody pushing back and being like, oh, you can, this is silly, you could just buy the watches and actually trade them, but obviously it's quite a bit more complicated. Well, you can't sell one that you don't have. Now you can short watches. I want to talk about

fast food CEOs. Yeah, let's pull up this video. of McDonald's CEO. We never watched this all the way through. This is McDonald's CEO Chris Kempensky. He went viral after seeming reluctant to eat his own burgers. He takes a tiny bite, looks uncomfortable, and calls the food product. That's the size of it.

With, you've heard about it. The Big Arch. Here it is, the Big Arch. This is pretty good. This is something that we have tested already. On humans. Germany, Canada. I love this product.

It is so good. I'm going to do a tasting right now, but I'm going to eat this for my lunch, just so you know. So here we go. First, holy cow. God, that is a good for you. We've got a very unique kind of sesame poppy sort of bun on it. This isn't that bad of a public presentation. We've got two quarter pound patties, delicious Big Arge sauce. It's probably his first TikTok.

Oh, there's so much going on with this. First of all, let's try to get this thing. I don't even know how to attack it. Got so much to it. There's also some crispy onions on here as well. I see those kind of coming out. He's stoked. All right.

I met the CEO of McDonald's, the previous CEO at South by Southwest in 2013. That is so good. That's a big bite for a big art. That's a huge burger. It's distinctively McDonald's. No, undeniably not that big of a bite. Yeah, not that big of a bite. You just kind of.

But eating on camera is so hard. If you just start housing that thing, there's going to be a whole different set of backlash. It definitely looked like his first ever bite of a burger. Yeah. It's not a strong performance. Lulu said layup opportunity for the number two ranked fast food chain CEO to film a brutal. And I think somebody did. We can pull up another video here.

Someone did it. There's someone saying Japanese manga writer trying to write Americans. The CEO would perhaps compete over who would take the manliest bite of a burger. Oh, that's ridiculous. Surely America cannot be like that. Okay, watch this. Burger King? Oh, that's a real bite.

That's a real bite. Yeah. I'm a Burger King guy now. He won me over. Very, very well. This guy seems like he can flip burgers. He can take bites of burgers. I saw another video of Chris,

the McDonald's CEO, coming out on his personal Instagram, saying he eats, he wanted to clarify that he does eat McDonald's three or four times a week, he said. So he is defending his honor. McDonald's is great. I love this product.

Yeah. I love this product. That's what every, that's what every chef says, you know, after they, after they, you know, bring out a meal. They say, I love this product. I think you will, too. He's a business guy. I don't have a problem with that.

Refer to it as product. Go off. I stand by it. I think it's great. Thank you for being with us. We will be back tomorrow. Tomorrow. 11 a.m.

I cannot wait. I cannot wait. See you. Do it. Goodbye.