TBPN - Rocket Lab Enters SpaceX Arena, Meta’s Prediction Market, America’s Tech Wishlist | Diet TBPN

Episode Date: July 1, 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.comPublic - https://public.comCisco - https://www.cisco.comConsole - https://www.console.comCrowdStrike - https://www.crowdstrike.comFigma - https://www.figma.comMongoDB - https://www.mongodb.comNYSE - https://www.nyse.comRailway - https://railway.comShopify - https://www.shopify.com/Follow 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

People were clamoring for a Rocket Lab story that never came yesterday. Rocket Lab enters the arena with SpaceX. Brandon Grell fired up the TBPN newsletter, which you can subscribe to at TBPN.com today because we were on the horn with Prof.G. We did his podcast. Very excited for that to come out. Anyway, Rocket Lab, they are duking it out with SpaceX. Let's go through it.

Yesterday, the launch services and space systems provider. Rocket Lab agreed to purchase satellite manufacturer-operator, Oridium in a cash and stock deal that values the company at $8 billion or 20% more than the share price at Friday's close. Eridium pioneered Leo's satellites launching its first one some 30 years ago. The Eridium network was the original sat phone, this huge block of a phone. You would take out the antenna out of the back and the antenna was big enough to kill you instantly if you let it get near your brain.

Just kidding, it was very simple. But it would be terrifying to anyone worried about microwave. technology or any sort of radiation. But it was wildly successful. The company grew and grew, and now it's part of Rocket Lab. Today, they operate a fleet of 66 satellites. That seems low. That's because these are bigger, older satellites, but this partnership is probably going up against Starlink. So it connects handsets and other devices used by ships, mining sites, U.S. government agencies' enterprise connectivity play. The move represents yet more vertical integration at Rocket Lab over the years. The company has grown from small,

niche satellite launch provider to an integrated space powerhouse. It now designed satellites and aerospace components, serves the defense primes, has the second most launched U.S. rocket annually, the electron rocket, and is currently developing a reusable medium lift launch vehicle, but Jeff Bezos was probably coming for that silver medal any day now. With the Eurydium acquisition, Rocket Lab is positioning itself to compete directly with SpaceX, which already connects, which already operates a 10,000 satellite fleet. Rocket Lab has its work cut out for it, says Brandon Grell. On August 25th, 2021 Rocket Lab spacked at $4.1 billion, the usual SPAC price, probably $10 a share, $4 billion valuation. It stayed at or below that price in the public markets for three

whole years until September 2024, when it started to grow both revenue and get re-rated. Now it's acquiring Eridium for $8 billion, twice its original IPO price. And Delian says, this is the value. Yeah, you could buy it for around $4.80-ish cents a share on July 1st in 2024. It is now sitting at $101. Yeah, what a run. And, yeah, the whole space economy has been booming. Very, very good.

It's a $60 billion company, so they're picking up an $8 billion connectivity provider. And we can play a little bit of this from the founder of Rocket Land, the CEO, Rocket Man himself. Rocket Lab is acquiring a radium communications. Last time I was wearing this blue jacket was announcing neutron. Yeah. So I guess that means that's something important to announce today. Do you ever wait pause for a second?

Do you ever put on a jacket like that? Is this really the important? This seems to be one of the more... Oh, over the top. No, wait. Whoa. Whoa! I don't know.

I mean, I don't think I have, but now I want to try. Something important to announce today. This thing is about too. Okay, we're going to go back to school for a little bit. I want to introduce you to the space application equation. So you've heard me talk a lot in the past about applications. It's where all the value in space truly lies. But in order to exploit that value to the fullest, you need a few other things.

The first thing is unfettered access to space, so you need your own launch. And then of course you need your own ability to build spacecraft at scale. We've got that too. But there's some other really big barriers to building large successful constellations in orbit. And the first one... Romantic companions. Spectrum. Spectrum is a finite, almost impossible to get.

And of course, not all spectrum is created the same. The next thing is, it takes a long time to build and launch your infrastructure. A long time to design and build your satellites, launch them, and even longer time to get your first one. dollar of revenue. And then finally it's a long time to a sustained cash flow model, a long time to build your business model, a long time to build your customer base, and it takes just that long extended time until you've got proper reoccurring cash flow. So those of you who know me will know that I'm way too impatient for that. So we found a bit of a

shortcut. Rocket Lab is acquiring Aridium Communications. Good music. Very clear video. I believe this would be one of the most transformative deals in the space. industry. It's the ultimate combination for growth. And if you think back to a little whiteboard session a moment ago, this is a deal where one plus one equals three, not just two. One being rocket lab, we have unfettered access to space and... Unfettered! Unfettered intelligence. ...to space again.

And then you think of Arridium, they have an already operational constellation. Spectrum, not just any spectrum, extremely valuable spectrum. Oh yeah, the spectrum's really important. ...Millions of customers and they're profitable. SpaceX just bought some spectrum too. So where the three comes in is the result of these. two things is a fully integrated self-launching space superpower, one that will unlock more growth from Ariridium's existing network and build new constellations to unlock new

services and market opportunities. This is officially our entrance into the space applications market, the thing we've been talking about for a long time now. But to be clear, this is not the finish line. Now we won't just continue Arridium's network as is, we're going to build upon it to unlock new markets and pioneer new space-based services. Rocket Lab's future in space applications has just been unlocked and accelerated. And with that, I like this guy. I'm off to buy a new jacket. This thing's too small.

See, it goes full circle. The reason that he had to put the jacket on sort of awkwardly was too small. It was a part of the story. Yeah, it was good. That's a really good video. I like that. Anyway, Comcast split in 2011 Comcast, which was primarily a cable TV, internet and phone provider. to something like 30 million Americans bought a 51% stake in NBC Universal from General Electric.

I love it. I love an industrial company that owns a media company. It's happened before, folks. It's not that crazy. It just might work. In 2013, it purchased the remaining 49% stake. Since then, Comcast has acquired the European Media Company Sky, the movie studio, DreamWorks Animation, and through NBC Universal spun up Peacock, among other activity in the entertainment space.

Yesterday, the Wall Street Journal reported that Comcast's decade-long into trying to be a content plus distribution company is coming to an end. It's planning to split the businesses into two. The Comcast entity will once again become a connectivity-only business, and NBC Universal will focus entirely on content. And there's been a number of spin-outs that have been happening for a while, and this is the final, like, big one, I guess. There's a recent history of telecom connectivity companies rolling up entertainment businesses and then spinning them out or getting rid of them over the past decade Verizon bought AOL and Yahoo, reorganized the two into a entity called Verizon Media and ultimately sold Verizon Media to Apollo in 2021 over roughly the same period.

AT&T bought DirecTV and Time Warner but ended up fully exiting its position in DirecTV and spun off Time Warner as Warner Media into its own entity in 2022. So interesting. deal to follow along. The other good news in the space world is that after that explosion at Blue Origin launch, that New Glen launch that was so disheartening, there were rumors that it might be two years until they got that launch pad back online, but there is some updates here. There are some updates. To return to flight this year, we're not rebuilding the same pad. We're going straight to a horizontal vertical hybrid con-ops. We had already been to. We had already been to. developing for our 9x4 New Glenn launch vehicle using existing infrastructure, skipping a new

transporter erector and creating a common con-ops across two paths. So Dave Lipps shares. They just used the explosion as sort of like a demo. They demo the old setup. Demolition? Yeah. They did. But good news from Dave Limp, the CEO of Blue Origin, that they're going to get New Glenn flying again sooner than people. I have a pitch for you. I have a business idea. Let's hear it. Let's hear it. What's the biggest problem with being a doctor?

You make a lot of money as a doctor, right? What's the biggest problem? The odd hours. No. Taxes. You make so much money, you get taxed on normal income, ordinary income. Even if you're a doctor, you're saving people's lives, you're doing the most important job in our economy. You have a doctor, buddy that also runs a hedge fund, though. And when he runs the hedge fund, he's making capital gains. But when he does an operation, he makes ordinary income.

Which to me, it's personally very concerning. I don't know if I'd want to go to see a doctor that does surgery. To be fair, he's building a new clinic and he has time off. Well, he's not up and running. But when I heard that, you know, a surgeon was also running a hedge fund, I got a little bit worried. Just, you know, if I was under the knife. Yes.

And there were some, and the market was open, I'd be a little nervous. But the doctor makes a ton of money, saves people's lives, does all sorts of good things, gets taxed at ordinary income, not capital gains. So you're taxing doctors who are saving lives at a higher rate. So my business idea is with the power of agentic AI, we create thousands and thousands of Delaware C-Corps for every doctor. So every time that there's a doctor's appointment and you have to pay the doctor, you acquire one of their. Delaware C-Corp's, and within that C-Corp, there is on the balance sheet of that company, basically an IOU for the services the doctor must render you. Sitting on the balance sheet.

Sitting on the balance sheet. Yeah, it's an asset. It's an asset. And so you can then depreciate that asset since you've acquired it. The doctor reaps capital gains, and then you cash in your... Yeah, and they can have a sort of a farm of C-Corp, so there's... You know, they've had them, the shares for over a year. Exactly.

Exactly. Long-term capital gains. And then the patient on their way out, they sign one form. Agentic AI does its thing, winds down the C-Corp and cashes in the asset. And then the doctor can reap capital gains. What do you think? You think we got a business there? I think you just created vertical AI agents for tax fraud.

I asked Jad GBT, and it said, this is almost certainly dead on arrival. Not clever tax optimization, more like abusive tax shelter with health care loss side quests. The core problem is the economic substance is obvious. The patient is paying for medical care. The doctor is being paid for performing medical services. IRC61 includes compensation for services and fees in gross income. And the IRS says you generally include everything received in payment for personal services. Wrapping the bill in a newly minted C-Corp does not change the income character.

Well, I think we'll have to take that one to the Supreme Court. Take it all the way. I think if you take you to the Supreme Court, there's a chance. I think you can wrap it in a prediction market, right? So every single time you go to the doctor, you say, okay, there's like zero percent chance the doctor's going to do well. And then he bets yes. He bets yes. And then we'll see what happens.

But, you know, if it's a good doctor, then he'll be paid out in full. I'm pretty sure it adds insurance to it as well because you don't pay if the doctor doesn't do a good job. Yeah, it's like insurance is built in. Built in. So I think this is actually could be clear. But are winnings on prediction markets, capital? gains? I think it's still mostly unclear. So for the next few years, I think this would definitely be a good strategy. Okay, I like it. I like it. You have to imagine, because they say they don't use the word

bet. They use the word trade. Trade. Yeah. So capital gains. So trading. Capital gains treatment maybe. I think that the post last year where someone was saying like prediction markets will replace everything. If I want blueberries delivered to my house, I go to the market for blueberries being delivered to my house and I bet $15 and I bet no. Someone else, they bet yes. They deliver me blueberries. They get the $15. Works every time. Works every single time. We keep debating this meta question of will they launch a financially incentivized prediction market or will it purely be for social cloud? You're still in the camp of there's going to be real dollars. It just feels like the first time meta will ever have. The only reason, the reason I, I, I,

I believe that is because I believe they had meta, like, was reaching out to the various prediction market providers to try to be potential like partners and or vendors. But I mean, partnership can mean so many different things, right? Partnership with a prediction market can mean we'll give you ad reads or discounted ads or will vend your data so that if someone is on Instagram and hits the search box acting for something and Lama 5 or Muse Spark wants to answer it and surface data from a prediction market, we have the rights to do that without infringing on your copyright or something like that. Like it could be a data licensing partnership.

It could be an acquisition funnel. It could be something where that is funneling people to the prediction markets or back. Like that whole, I read the same article that you read and it doesn't make any sense to say, oh, yeah, I want to create a competitor, so I'm going to reach out to my direct competitors and see if I if they want to give me their customers like why would they ever do that that makes no sense you see what I'm saying the only thing is like the prediction markets have a history of partnering with with other applications and basically being the infrastructure providers yeah to actually place real but

dollar you go to any any partner whether it's you know there was that whole suite of like no I I agree with you like I I generally agree that there is a possibility that There's no dollars and it's just for social cloud. But I just don't. New York Stock Exchange. They all have partnerships with prediction markets. None of them have like, oh, go in the CNBC app and upload your credit card information. Like meta's been on this path of like maybe we'd like a financial relationship with our customers for decades.

And like it's never really matured. There was always this idea that you would be able to like save your payment information. And then when you see a T-shirt, you could just click. and one click checkout in the Instagram app or in the Facebook app. And that never really took off for a variety of reasons. So, John, in this case, it'd be like you see an ad and then it's like, I place a bet that there won't be a T-shirt delivered to my house. Yes, yes.

And then it'll get fulfilled. This is the final boss. Hopefully. Hopefully. The answer to your question on can doctors reap capital gains by using prediction markets instead, prediction market profits are taxable, but the character's unsettled at the moment. CFTC regulated event contracts like Kalshi style contracts, there is a decent argument that they are financial derivatives rather than gambling. The CFTC describes event contracts as derivative

contracts whose payoff depends on the specified event. It also granted Kalshi status as a designated contract market. So best case, some contracts might be treated as 1256 contracts. That means marked to market annually and gains and losses split. across 60% long-term capital, 40% short-term capital, regardless of holding period. So there's a chance that that's the solution. I think we might have solved it, but we'll have to use every tool in the modern financialization and technology box. The Wall Street Journal asked their readers what innovations they want to see in the next 20 years,

and the answers are sort of all over the place and sort of a way. Number five will shock you. Number five might shock you. What innovation do you want to see in the next 20 years? Tyler think of something, Jordy think of something. I'll read some of what the Wall Street Journal readers wrote in. Mary Gillespie from Irving, Texas, said, solar on wheels. She says, why can't cars be manufactured with solar panels integrated into the top of the vehicle?

Then it could recharge the car's battery as you travel and when you park. So this is not actually a new idea. There are cars that have solar panels on the roof, but solar panels are extremely weak, and so you'd have to leave the car outside for like five months to charge, a full electric car. Now, there have been DARPA Grand Challenge cars and specific almost science experiments, vehicles, where they have a huge surface area, and it's this massive wing of solar panels. And I think there's a plane that's also potentially able to ply indefinitely by having solar panels that really, charge a motor and it spins. But for a normal car, a single solar panel on the roof doesn't get

you much in the way of charging. She's basically asking for stronger solar density, stronger energy density. And I'm in. I'm in. In 20 years, totally feasible. Mary from Irving, Texas, I think it's going to happen. I think it's possible in 20 years. Anyway, traffic jam plan. I would love to see an autopilot feature. I would love to see autopilot features on cars talk to each other. So cars can Matt wants nuclear cars. Just get a nuclear car. That's very fallout. I like the, what is that, nuclear punk or something? What was that?

There's like an alternate history of like the 1960s if it was powered by nuclear. Not solar punk, atom punk, atom punk is the term. And it has all these really cool things that could be powered by nuclear. Maybe we'll get there. Fusion is sort of promising that. We've talked to a couple companies that do smaller fusion reactors. and they tend avalanches one up in Seattle or maybe Washington, where it's basically the nuclear reactor,

but it's fusion, not fission, and it's about the size of, you know, a large battery. And so you could potentially put it in a car, put it in a drone, put it in a space vehicle, keep it up there for a long time. Accordian traffic jams would be a thing of the past. What is an accordion traffic jam? I think that's when the traffic's like...

Oh, going in and out. In and out. It's like people are stopping and going, and there's that slight delay when theoretically, if everyone was like moving at the perfect, you know. So Morgan Clayton from Birmingham, Alabama, wants autopilot features on all the cars to talk to each other so they never do that.

So they know, okay, I got to speed up, I got to slow down, and then they're all perfectly in sync. Probably doable? You need some standard or something. What are you thinking? Musical vision. This is a good one. These people are thinking outside the box. This is not like, oh, I want inference at one tenth of the cost. Silligan Valley is unimaginative by comparison. But Mary Schittner Gifford from Alpine, Utah says she wants musical vision. I'd like to see the invention of a device to help musicians with eyesight limitations read music. There are many ways to help the sight impaired read the printed word. But pianists and others need to help. to read music at the piano. My father's sight was so bad that he had to look at the music

about two inches away. Memorize one or two phrases, then practice what he memorized. He gave his last recital from memory at age 94. What a legend. Let's give it up for Mary Schickner Gifford's father, grandfather. Powerful. Crazy idea. Can't you just print it bigger? If you're having trouble seeing it. You just invented the semi-truck-sized. printer. Yeah. I mean, you could just print like a poster board and then you can see it at the piano. Also, glasses? Yeah, I wonder, I mean, it might be a small, might be a small market of people whose vision is so impaired that even with glasses, it needs to be up close. Up close. I'm just confused by why this, the invention of a device to help musicians with eyesight limitations read

music, why are we focused on reading music? Wouldn't this be, wouldn't any technology that allows you to read music if your heart of sight allow you to read anything? Are we talking about general technology? I mean, couldn't you have, couldn't you learn individual notes and then learn the order of them and have it spoken to you? Yeah. I do think maybe iPad app, iPads often sit at the piano and you could have an iPad app that shows sort of like one note or two notes at a humanoid robot that grabs your hand and bends. Popatiers you like a marionette. And, you know, slams your hands.

Yeah, totally possible. Paul Blanco wants something else. He wants a smart spatula. This is so much more attainable. I'd love a cooking spatula. Human teleportation or spatula that could tell without penetration what temperature or how thoroughly cooked a hamburger or steak is. I like that.

Do we not have, we literally have things? No, no, no. You want it without penetration. It has to, you just rest the spatula on top of the steak, and it tells you inside the steak what temperature it is, which is very difficult because if you're searing or doing a reverse sear or something, the outside could be a wildly different temperature

than what's going on inside. So how do you detect the temperature without penetrating the steak with a thermometer? A powerful X-ray. Imagine it's as big as that brain scanner thing. It's just like, yeah, here's your smart spatula and load it up. It's like MRIing the entire steak. That'd be a good time.

Robot chefs, oh, this is related. I want a robot that can work as an executive chef in my own kitchen, says Ray Lowe from Lacey Washington. It could call a grocer, order ingredients, insisting on it all being upscale, and have those ingredients delivered, unpack, load the fridge, and then use my appliance to make dinner. 20 years, I think it's possible.

I like that. That's right on the right level of sci-fi. It seems doable. Not impossible. But also not something we can whip up in a weekend with an Arduino, like the smarts basketball. Some of these ideas are silly, but I'm viewing it as a very literal request for startups. Yes. Yeah. No, I like it. Quiet inside. Cheryl Franklin from West Grove, Pennsylvania says, given the negative effects of excessive noise such as elevated blood pressure, cardiac stress, and lower real estate values, I'd love to see Improftainting. I'd love to see Improftainting. improvements in building materials. For example, drywall with built-in soundproofing capabilities. Love that. Perhaps a lightweight sound-blocking film. It's called lead paint, Cheryl. Bring it back. It's not lead paint. That doesn't do anything to sound. Perhaps a lightweight sound blocking film could also be developed for use in existing buildings in home. I had a startup idea a while back. So, you know, when you have a young baby, a child, and they, every time you go to change the diaper, very noisy. One of my friends put up sound panels like a podcast studio. You know, full slot wall in the nursery.

Dual use technology. Dual use technology for sure. And it dampens the cries so you can, so you're not so echoey because sometimes if a kid's crying in a very echoey room, it really reverberates and it can be kind of crazy. And lead paint is dense, so in theory any added mass can reduce sound transmission. So maybe add a little bit of lead paint to your nursery.

Lead plates, whole lead plates maybe, whole Faraday cage. But here was the idea. No one wants a slat wall in their nursery, in their babies. I don't know. Maybe if you're trying to breed the super podcaster, but most people don't want that. They want animals. They want a pastoral nature vibe, some warm pastels, some nice, warm tones, something welcoming for the new child who's just been brought into this world.

And so the idea was a typical sound panel, square, flat, you know, you might see the egg crate, the black material, but you paint on it an animal. You paint it on it child-like paintings that you would hang on the wall. It looks appropriate. It fits the decor of the room, but it also has the added effect of sound treating the room so that it's less noisy when everyone's yelling. Good business. Banger. Banger. There we go. Banger. Better than Seacorp's on demand for doctors. For doctors? So they can do tax problems? Maybe. Certainly. Jennifer Smith, we have made so many advancements in so many areas, but what I want most is a way to control outside noise.

This is the superpower she wants. It would be so nice to be able to sit on my screened-in porch and enjoy listening to the birds without having to hear nearby traffic, which sounds like drag racing these days. Well, that's because it is drag racing, Jennifer. We're drag racing in your neighborhood. If sounds are waves, can't we block some? How have we not invented an open-air?

type of noise-canceling headphones to shield noise waves and give us some quiet spaces outdoors. Interesting. I mean, the simple solution here is just more electric vehicles. They're quieter. You don't sound like drag racing. Obviously, there's a whole bunch of emission standards that also reduce, reduce noise from internal combustion engines, at least until you chop the exhaust and straight pipe that thing. But if you're not doing that... Or your engine swap your Model 3. Yeah. Yeah, I don't know. Is this possible? Could you just put out a big speaker that selectively noise cancels car noise, but not bird noise? That seems possible.

I personally, I would, you know, take my home, I'd get really thick windows, ideally lead paint in the whole home. You know, lead paint. Just love to lead paint. And I'd bring the birds inside. I got an alternative theory. If you got drag racers racing down. your quiet bird infested street. You got to go Wiley Coyote mode.

You got to put out a fake tunnel out of bricks, paint it with some lead paint maybe. The fake tunnel, the drag racer smashes into the bricks. They'll never be racing down your street again. Drop an anvil on the car. Yeah, dropping an anvil on the car. That works too. We have to talk about the Rivian team

because they sent you this demo unit to try. R1S. Quad mode. It's a demo unit. So drive it as fast as you want. You can roll it. You can roll it if you want. Like it's no big deal.

Just like really enjoy the car to the fullest. I was pretty surprised that they said that. That's great. It's actually an amazing car. I like it. The self-driving feature. Deeply underrated. My latest hot take is that self-driving technology is commoditizing as fast as LLM technology

and that companies that take it seriously and actually prioritize it. It is not some insane, insane, insane technology. tech breakthrough that cannot be implemented in other vehicles. It in fact can be implemented in other vehicles. Just like we've seen Chapo-Lay get a chapbot, we will see every car be autonomous. It will not be the domain of a single company. Funniest thing about this, you got someone who's asking for just a dishwasher that's a little bit taller. You've got somebody who's asking for a smart spatula. And then you have Nolan Williams who says, I would like to see significant developments in cancer and longevity drugs. You're sitting there, you're going around with the Wall Street Journal,

and you're like, oh, like, what did you ask for? Like, like, smart spatula. I was like, what do you ask for? Like, longer life extension. Curing cancer. You're like, what? I didn't know. I didn't know was that type of question. He says, longer lives mean longer runway for brilliant people to bring forth their own innovations and pass on their knowledge. Wow, Nolan Williams, really, really great answer. Derek Thompson has a new newsletter out. He's breaking it down. He says, there's never been a better time to get rich working alone. Is he saying the goose is not valued?

I think he's saying the goose is not valued. Is he saying the goose is not valued? He says the debate about AI and jobs often breaks down into two extreme groups, both of which have an evidence problem. On the one hand are the doomers who say AI will take everyone's job, even though unemployment remains low, and the unemployment rate for prime age Americans is still very high. On the other hand, are the deniers whose insistence that AI is a worthless scam prevents them from seeing the many ways it's changing work and the economy broadly.

If you want a strong and evidence-based take about AI and jobs, I have one for you, quote from Derek Thompson, there's never been a better time for workers to get rich by going independent. This is the golden age for tiny startups with big revenue. The evidence, charts one and two, the number of solo entrepreneurs and tiny startups is taking off. Great news. Chart three, there is rising evidence that these small firms are more likely to use AI and sell AI related products, whether it's software consulting or design. Is he saying that the matters, not the eggs, it's a goose itself. Is the true value is the power to keep laying eggs?

Yes, yes. Okay, continue. I just want to make sure I understood. Today's micro startups are becoming multi-million dollar firms, fast. and more frequently than any generation of firms that Stripe has measured. Today's article is about the rise of the Solo Act and the U.S. labor force and its implications for the future of business. Social life, more solo entrepreneurs, even more aloneness, and the fiscal, in America's fiscal crisis, more pass-through firms, even less tax revenue for a revenue-starved government.

Interesting. So if you have a bunch of talented people that would be earning money as doctors, but then they go and they wind up starting a business, then, yeah, maybe that's lower tax. attacks. That feels like that's further off. Is this a bull case for co-working spaces? The rise of solo entrepreneurship. Nothing is bullish for co-working spaces to me. It's rough. Why is it bad? Why has no one been able to make a good co-working space? Because I think it's just nice to have your own space. It's the same, I mean, the same logic would be like, why don't they make an, you know, why don't they make an apartment building where you get a tiny little, I mean, they do do this.

You're like, why don't they have a pod? Yeah, yeah. I mean, it's basically like, imagine if you rented your apartment and it was actually like as big as like one. Why don't they make like a smaller version of a house that you can rent that's like in a building with other, other like of these mini houses? I'm just saying like a 20, a 10 foot by 10 foot room that you rent and then all the amenities are. You were just telling you that you would happily live in the unit bar chet. You were saying that it's the chemical of lifestyle. I did think the picture of it in stores look cool.

But it needed a slight sawdown. But the difference there is like that shed on the right property would be very cool. That's true. That's true. But the property is sort of an amenity. I don't know. We'll figure it out. Thank you for watching TVPN.

We'll be back tomorrow at 11 a and Pacific. Hang out with us. We'll close it out. It's five stars on our podcast and Spotify. Bye, sign off for our newsletter at tbPN.com.