TBPN - The SaaSpocalypse is Cancelled, WB Back in Play, Zuck Grilled in LA Trial | Diet TBPN

Episode Date: February 20, 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

In case you were wondering how to shake hands with your friend or with your enemy, it works. It's the same. It's the same process you grab the hand with great force. Yes. And lift up. Underrated, you can establish dominance. You can handshake mock. Clearly.

Huge missed opportunity for Sam and Dario not to. To crush each other's hands to the point where the other one is bleeding and crying. That would have really set the tone. They have to rely on voice transcript. Exactly. Exactly. It would have been much better to just watch crushing in the hand. You know, you do those like strength training for a reason.

That's right. Every once in a while, you don't want to get caught lacking. Anyway, there's big news today. We're canceling the SaaSpocalypse. It's over. RIP SaaSpocalypse. It occurred from January, 26, to February, 26, and it's over now. We're declaring it over.

No, it's not entirely over. Who knows where the market will go. In many ways, it's just getting started. But I do think we're starting to see a bifurcation in the slopable companies and the unslopable companies. there should be some divergence between companies that have figured out how to integrate with AI, how to retool their business model, or just show that their business model was strong all along. And we'll go through that. Well, yeah, there's a category of SaaS.

Yes. That is SaaS. Yes. But they will be fine. AI beneficiaries. Yep. Should we watch? Have you seen Pacific Rim?

No. We got to watch this pump up speech. Let's do it. Because this gets me fired up. We're canceling the apocalypse. It's movie night again in class. So, the storyline. Aliens, giant alien Godzilla-like creatures called kaiju's have descended upon Earth.

No. And only robots that are as big as the Godzilla's can fight back. But you need two people. It's much like us. You need two pilots because the mental load of driving the robot being in the drift is too intense for a single person. It will drive you crazy. So two pilots, two Jaeger pilots must pilot the ship together and share the load. And so they both punch and then the robot.

about punches. It's amazing. It's a great film. You'll love it. He's got to give a speech. You you're you're known for giving great speeches just like this. This is this is a Jordy Hayes original right here. Yes, movie day again. Welcome to the stream, Ryan. Today. At the edge of our hope. Things aren't looking at this point. The end of our time. The end of our time. AI is upon us. We're chosen not only to believe in ourselves but in each other. We must believe in the stocks of the SaaS companies. There is not a man nor woman in here that shall stand alone.

No, no public company shareholder will stand alone. We stand with you. Today we face the monsters that are at our door and bring the fight to them. We're bringing the fight to the Foundation Labs. Today we are canceling the apocalypse. We're canceling the Sasspocalypse. And then the greatest soundtrack.

Ever. I love. I only really had to ever give one speech like that. last year. But it hit. It hit. The team needed it in that we did and we got through critical moment we powered through we powered through so anyway we've lost a lot of good soldiers a lot of good market cap out there during the SAS Pocelix 2 trillion dollars something like that maybe it's been rough but and and I mean truthfully like the narrative does make sense like agentic AI systems co-pilots foundation models like

these are disruptive innovations fundamentally they're counter positioned against traditional seat-based SaaS pricing we We know this. Legacy companies will be caught in a jam because pivoting the entire business model is difficult. You can't just flip a switch and start charging customers in a completely different way. Your investors will freak out because your finances will be deeply unprofitable all of a sudden. Company cultures and organizational structures are aligned around specific incentives. And so you have to rewire everything for a different business model. And that's really hard.

And that's why people are sounding the this is a disruptive innovation. This is not a sustaining innovation like mobile or cloud. The SaaSpocalypse was always a little bit of an indiscriminate hammer. It felt like, I mean, there was one article in the journal that was like, Anthropic launched a legal tool, and that caused the sell off. And it's like, well, it could be that, or it also could be Claude Code, or it could be OpenClawe or Codex or Spark or like there's a million different things going on in the AI world. That one just kind of took hold.

But I think we will soon be finding out what companies are truly unslawable, as you put it, and actually benefit in the AI future. And there's a bunch of early signals, so let's run through them. First, Google's comeback. I mean, this was the first victim of the apocalypse. This one happened like a year or two ago. Why would anyone search Google ever if an LLM could get you a better answer and fewer clicks? Of course, Google quickly caught up to the frontier.

They launched AI overviews. They flex deep mind's research previews. They shut off the power of the TPU. Core business is surviving and thriving, do in part to Gemini, helping understand intent so they can deliver ads on longer, more complex searches. Google's been doing fine. They're sort of already building back from the SaaSpocalypse they experienced. Then you have meta. Will user minutes migrate over to LLMs? Will SORA destroy Instagram overnight? We'll slop clog the feeds, maybe, but not before Meta's transformer-based gem model absolutely destroys ad targeting and just makes everything so much better and reaccelerates revenue.

And we've talked to a lot of folks about that. And so meta is doing very well, even though they haven't like figured out their AI strategy rolled out any of the new crazy frontier models from MSL? Like the business is great. Certainly argue they have an AI strategy. Totally. Use AI ML to make really good ads. They've been doing it for a decade. But it's more on the product side, right?

So is it the manis? Is it net new product? Is it meta-a-I? It gets more interesting when you go to the smaller companies, not super small, but Spotify doesn't really need to invest in generative AI. I heard a good analogy that was like, should Spotify have released a guitar? so that people can make more music?

Like, no, because people will pick whatever tools available and then they will release that music on Spotify. These artists, if they're using AI tools, or maybe they're just prompters, whatever you wanna call them, they will bring AI music to the platform. It'll be filtered by algorithms. Slop will be in the trough,

but only the most delicious slop will bubble to the top. Current data shows AI music currently underperforms dramatically on a percentage basis. Like the number of AI songs is huge, but the number of like actual minutes watched and is low. Even if that flips, Spotify still benefits. Let's switch over to Shopify.

You can definitely vibe code and e-commerce website now, but Shopify is not a major cost driver for most businesses that use it. You're talking maybe like $1,000 a month for some companies, and it's a lot of headache that they just don't have to even think about. And then there's a whole bunch of advantages that Shopify should benefit from in the AI era. It's very full-featured, so it's actually hard to replace. setting up a new store is faster than waiting for a prompt to return like it's all pre-built and then AI tools benefit from all the context and data that Shopify has across the entire platform and then lastly agent of commerce doesn't replace Shopify checkout it's just a front end to the to the checkout much more or so payment exactly post purchase so if it's driving activity that's actually a net benefit and so there's a whole bunch more examples lastly you got to consider Salesforce

Mark Benioff has been duking it out Jim Kramer on CNBC over seat base process pricing in an AI era. And it's 100% true that there are some amazing AI native CRM startups that are aggressively trying to eat off Benioff's plate. But Anthropics hiring a Salesforce admin. They're growing so fast and so big that they need someone just to be full-time job, manage their internal Salesforce. And so there's growth all over the SaaS ecosystem and things don't seem to be decelerating or D or slowing down. It's definitely go time though. And it's time to revisit sources of strength. It's wartime. It's time to become unslappable. It is wartime. It's founder mode time. Yeah, so going back to the fax machine example in 1999 was the first year

that showed a significant drop in the sale of physical fax machines. They dropped by 10% in a single year. When was that? In 1999. 1999. That is not a okay growth just started slowing. It had been slowing up until that point, but it was slowing and then it like fell off a cliff. Yeah. Should we read through this Goodwill hunting? meme this sums up the sasspocalypse of course that's your contention your first time SaaS bear you just got finished listening to some podcast dario on to our cash probably now you think it's the end of white color work and seat-based pricing is screwed you're gonna you're gonna be convinced of that till tomorrow when you get to something big is happening then you'll install

clodbot on a mac mini vibe coded dashboard on top of a postgres database and say we're all just a couple ralph loops away from building a sales force competitor that's gonna last until next week when you discover context graphs, and then you're going to be talking about how the systems of record will be disintermediated by an agentic layer and reposting OAI marketing graphics. Well, as a matter of fact, I won't, because ultimately the application layer is just, the application layer is just business logic on top of a cred database. You got that from Satchez's appearance on the BG2 pod. December 2024, right?

Yeah, I saw that too. Were you going to plagiarize the whole thing for us? Do you have any thoughts of your own on this matter, or is that your thing? You get into the replies of anyone posting a SaaS sticker. You watch some podcasts, then pawned off as your own idea to impress some VCs and embarrass some anans who's long SaaS. See, the sad thing about a guy like you is in a couple of years, you're going to start doing some thinking on your own. And you're going to come up with the fact that there are two certainties in life. One, don't do that.

And two, you drop 30 grand on Mac minis and LLM API calls to come up with the same conclusions you could have got for free by following a handful of VC accounts. It's great. Roasted. Matthew McConaughey hit. variety this morning. We say. And commenting on AI, Brandon just shared it. He said, it's coming, it's already here, don't deny it.

It's not going to be enough to sit on the sidelines and make the moral plea that, no, this is wrong. It's not going to last. There's too much money to be made and it's too productive. AI acceleration. So I say, own yourself, voice, likeness, et cetera, trade market, whatever you got to do. So when it comes, no one can steal you. Yeah.

Yeah, it makes sense. The Matthew McConaughey voice, I mean, that's an iconic voice. I think there's definitely. huge deal to be done. And the AI voices, although we're in a boom right now, I remember being able to go on ways and pick, I think Snoop Dog had a deal, but there were a number of celebrities that had, you can imagine like an Arnold Schwarzenegger, get to the chopper, but then also like, take a left, and it's like fun. And they would just pre-record all of the different lines, like keep going straight, bear left, take a hard left, and you record like 20 different lines,

and then the program just picks the audio file for the correct moment because there's only like 20 different things you could possibly say in a navigation app. But those types of things, there's clearly a framework for that and all the agencies and all the unions understand this. So I feel like we're in this weird, bizarre world where people think that, oh, like, IP does law doesn't exist and we aren't going to be able to deal with this. It's like, no, like there's like decades of lawyers who like are foaming at the mouth being like, I can't wait to sue bite dance.

This is going to be awesome. Yeah, the only thing is that it's going to require real cooperation from platforms. The platforms are ready to cooperate. I disagree. I don't think they're cooperating that hard. There's so much, there's so much content of a bunch of individuals on YouTube, on meta, that is using their name and likeness and putting them in situations that they would never, ever, ever agree to. And you can argue that it's not good for.

for their brand, but it's incredibly entertaining. And so the platforms leave the content up. By the time you do a takedown request, it's got 200,000 likes or- You don't need to do a take-down request. You just need to pay, pay me, pay me. That's what people want. They wanna be paid.

The message in that Matthew McConaughey post is not, is not like, it's super critical that no one ever uses an image of me or my voice ever. It's that, look, if somebody's profiting off it, that's my IP. I mean, I read his, comment more around making movies, saying don't use AI to make this scene that would normally

take four weeks in some exotic location and a thousand people. Obviously AI is going to be used for that. I think there's a separate issue of people generating Matthew McConaughey doing and saying things that he would never agree to that are sort of compromising or again putting him in situations or having him say things that he wouldn't ever agree to, even if he would ever agree to, even if he was getting paid. Michael Burry is going off on... Oh, yes. What happened?

Carp. Okay. Palantir CEO, Alex Carp, has his head in the cloud, saying he's a frequent flyer. Mm-hmm. And they get into some of his business and personal travel expenses.

During the years, ended December 31st, 2025, and 2024. The company incurred expenses related to the use of the executive aircraft of 17.2 million and 7.7 million, respectively. It's quite the feat to spend 17 million in a year. on business and personal travel, particularly when the jet's not even the rental.

Jeffrey's analyst Brent Bill, he's got a bone to pick, runs the numbers. Assuming use of a mid-sized jet with an estimated operating cost of $7,000 per hour, this implies roughly 2,400 flight hours or about 28% of the year in the air, even under a more conservative assumption of a high-end jet, such as the G650 at an estimated 15,000 per hour. The 17 million still equates to approximately 1,147,4,000. flight hours or 13% of the year. Notably, this 17.2 figure is more than double carp's executive aircraft expense in 2024 and appears elevated relative to peers with meta CEO spending 1.8 million and Palo Alto Network CEO spending 2.4 million. Terrible comps. Why? Like, carp is obviously constantly

traveling all over the world. He's an international businessman. Yeah. I know podcasters that do like 250 hours a year. Oh, yeah. Like, like you're talking about going, from like somebody who like travels like a good amount at like let's say like 200 hours a year. To me, yeah, I might catch some flack for for defending private aviation. But it just doesn't seem that crazy. The entire reason that Palantir is growing the way it is like they're doing deals in Japan. They're doing deals in in the Middle East. They're doing, it's just like this guy is a global deal maker. And if you really wanted to do an analysis on this, You should look at all the international deals that they've done, maybe ignore the U.S.,

and see if CARP is actually delivering. Giro Tickets says, do you think he has monetization on? Who's he talking about? Kamani's been putting up insane numbers on X, quite the tense geopolitical situation. I hope that we're not starting a new war in the Middle East. But if Kameney does have monetization on, it certainly is going to be a real revenue line, item on the, I have to imagine, does X sanction accounts? I think creator payouts are probably geographically limited to certain countries where the payment

rails work, if a country sanctioned. Like, I actually get my X creator payouts just straight up through Stripe. Yeah. It just comes through Stripe. In fact, I think I had to set up a Stripe account to receive it. I think I said, I'm an intellect was like the prototypical NeoLab. Okay. So he's really, yeah, putting in the TV.

It's a funny camera angle. What's going on here? Okay, I like that. Different. Switching it up. It's over the shoulder. I'm interviewing you. I'm getting to the bottom of it.

You answer me. You answer me. Well, okay, okay. We get it. Production team got some new PTZ cameras. We get it, guys. We have news on the Warner Brothers Netflix, Paramount Front.

Netflix is open to raising their bid for Warner Bros. There's a 35% chance that Netflix. That's falling like a stone. They were at like 70%. Yeah. Netflix apparently has ample room. to increase their offer. It's a $325 billion company Netflix,

but I think everyone believes that they're good for it. Netflix has ample cash and could bump up its offer for HBO Max owner Warner Brothers Discovery if competing bitter Paramount Skydance increases its own offer. The two media giants have been locked in a heated rivalry. Oh, you see what they did there? That's a new popular show. Heated rivalry.

It's about hockey over Warner Brothers and its storied catalog, which includes iconic franchises like Harry Potter, Game of Thrones, DC Comics and Superman. Though Warner Brothers is moving forward with a March 20th shareholder vote on Netflix's offer, it has given Paramount a week to come up with a more compelling bid. Netflix has bid 2775 a share or 82.7 billion for Warner Brothers Studio and streaming businesses, while Paramount has offered $30 a share, or $108 billion for the whole company. The creator of Stranger Things is sitting on a lot of dry powder that gives it some flexibility

to up the ante, holding about $9 billion in cash and cash equivalence on his business. balance sheet as of December 31st. Warner Brothers rejected Paramount's latest hostile takeover bid on Tuesday, but gave the rival studio until the end of Monday to submit a best and final offer. We're going into the final rounds now. Price will likely be the deciding factor. Warner Brothers concerns around funding and regulatory risk are real, but at a high enough number, they become secondary. Dude, David Zazlov must just be over the moon right now. bidding war. He's been working.

The bidding war of his dreams. Yeah, that's great. Every CEO that is flipping an asset dreams of a bidding war like this. That's great. Britsman expects Netflix will counter with any improved offer from Paramount, but the real twist is that these

deals were never apples to apples and it may ultimately come down to how much value the board and shareholders assign to the network business that Netflix would leave behind. So you need to do a sum of the parts. What's the value of just CNN, HGTV, the linear TV channels. Put that in because Netflix doesn't want that stuff.

They just want the IP and HBO. Paramount said it would continue to push the tender offer. It has launched for the studio opposing the inferior Netflix merger and still plans to nominate directors for the upcoming Warner Bros. Annual Meeting. All eyes are now on whether the CBS parent improves its offer, which Netflix is allowed to match under the terms of the merger agreement. I don't see how Netflix. actually gets approved on this one.

You think that you think they're cooked? I think I think if I think if Trump is souring on it, it's over. I was so pilled on the whole YouTube is the real competitor here. Watch time matters more. Think about screen time. Roblox is a competitor to Netflix. TikTok's a competitor to Netflix. Fortnite's a competitor to Netflix.

But I don't think a lot of people think like that. It's a very tech focus view. Yeah, you have to think about the entertainment industry, the core industry, people that make television shows and movies, things that you have, things that you have watched. Yeah, things that I have watched. Meta has obtained a patent for an AI system that could simulate deceased users by analyzing their historical data, allowing the account to keep posting, messaging, and even making video calls in their behavioral style. You thought I would stop posting after you killed me. Nice try.

I will continue dropping daily essays. You just created a billion, John Coupon. You just created a billion. John Gugan posts, both satirical and 500 words. Daily Essence. Family member sent me this this morning. Disturbed? Or is this real? I'm surprised you can patent this.

This is just like a thing that happens. Is this meta thinking out, you got population collapse? No. And obviously it's pretty hard to monetize a bot, but if you're driving. In an AI Doom scenario where all humans are dead, you want to still keep your services up. You gotta simulate all the dead people.

maybe. I don't know. Is this, is this doom pill? What's the P-Doom over there? Dan says true posters keep posting after death. There was a 4chan post apparently from a few years ago where somebody was like, I'm an engineer at Mata and they basically fully, I only saw a screenshot. It may or may not

have been real, but it appeared to be from a few years ago and they were saying like, I'm working on this feature, it seems bad. Interesting timing. Obviously Mark has been in L.A. this week. He got grilled for Wait, that was in L.A.?

I thought there was in D.C. Oh, interesting. Yeah, kind of rude, rude not to stop by the Ultridum before you get, chop it up. A little warm up on TVPN before you go in front of the big guy. Yeah, so he spent six hours. Okay. Yesterday.

We call Mark Zuckerberg to the stand. Thus began Wednesday's nearly six hours of testimony from the Meta Platform CEO in a trial of a lawsuit brought by a young woman against several. And this was about Benchukes. benchmark hacking in Lama 3? Is that what he was on trial for? No. No? Not as bad as that. Contending that social media... Potential weakness in the ad model? Is that what it's about? Overspending on the Metaverse. Concerns about distillation, I think. Oh, distillation. Yeah, that's why he'd be on trial for that. Yeah, that makes sense. Intending that social media causes

depression. Okay. It's a guy Mark Lanier, uh, Lanier, the plaintiff's attorney. We gotta ask in the landmark case who spoke with a faint Texas Twang. Showed the courtroom dozens of internal emails and chats from meta employees and executives over the years debating decisions like whether to ban the beauty filters teen used teens used on instagram to mimic the results of plastic surgery so anyways there's a bunch of the features like that are kind of the focus of the case there's also there's also a story on the cover of the wall street journal today social media bans for youth gain momentum worldwide and it does feel like a parenting skill issue a little bit like it is possible to keep kids away from social media if you are an active parent.

But at the same time, you know, if you wouldn't like a bend it, we don't have children with phones yet. Yeah, but that's deliberate. Yeah, that's deliberate. But at a certain point, like what? They would love phones. Sure, sure. They just will not be having them.

Yeah. I mean, I know my plan. I will give my son a disassembled iPhone 1 and when he can assemble it. and piece it together and manufacture it himself here in America, then he can use it. And we already ran this on Tyler. 20 years later. And then we did get Tyler a phone.

This was a good benchmark. We got Tyler. Didn't we get you a real phone because of that? We did, right? Yeah. Yeah, that was the reward. Well, that was also because I installed the new iOS when he was still in bed at, and I totally destroyed my old phone.

We got to do another prank on Tyler soon. They're so good. Yeah, chat. If you have any good prank ideas, like, no. Yeah. He was like, no. No, no, definitely not. eBay is buying Deepop secondhand.

Thanks, Andrew. That's a good one. Andrew is the king of VC dad jokes. He loves it. He loves it. So eBay is buying Deepop from Etsy for $1.2 billion, and this is in the Wall Street Journal. The addition of Deepop to its portfolio would boost its footprint while also expanding its presence in the fashion market.

We are confident that as a part of eBay, Deepop will be even more well positioned for long-term growth, benefiting from our scale, complementary offerings, and operational capabilities. eBay plans to cross-list Deepop products on its platform and expects the acquisition will expand its market share. Deepop's seller and buyer cohorts will gain access to eBay's financial services, shipping, and cross-border trade solutions, as well as its authenticity guarantee. Young consumers are a key demographic for eBay as Gen Z and millennial shoppers are driving secondhand commerce.

Deepop is also more popular as an app than a website, unlike eBay, which might bring in a new user base. Yeah. Good luck to know. eBay is still such a force, but it is certainly not cool. Deepop is cool. eBay has struggled. Jority has spoken. Great business. Not cool. But do you know why they call it eBay? Uh, no. Because it was founded in East Bay. Oh, by some East Bay rationalists. Yeah, yeah, yeah, yeah, for sure. It was sort of a less wrong project. It's right up there with Anthropics. RAS says we have a definitive answer now. AI will affect the labor market, starting with freelancers.

The first paper to use business level data to track AI versus labor. New paper from Ramp finds businesses are shifting spend from freelancers to AI. More than half of the businesses using freelancers in 2022 have stopped entirely. The companies that used to spend the most on freelancers shifted to AI the fastest 97% savings for the businesses that spent the most on freelance. That is wild. Generally makes sense. I mean, the whole premise of freelance is like you probably get paid a lot better on an hourly basis. Maybe you can capture more value on a dollar basis by working, you know, spreading your talents across multiple companies. But obviously, the flexibility comes with little to no lock-in. And so businesses can much more easily shift, spend around. So not super surprising. really shifted. Yes. Terminally online engineer posted Dario's speech

at the AI Impact Summit in India. Let's pull it up. Yeah, let's watch this. Energy and ambition in this room and across India are incredible. I've been spending the last few days meeting with Indian builders and enterprises and the energy to build together

here is palpable, unlike anywhere else. This is the fourth AI summit we've held since the tradition was initiated at Bletchley Park back in 2023, which I still remember. And in those 2.5 years, the advances in the technology have been absolutely staggering. Along with those, the advances in the commercial applications and the societal and ethical questions around the technology have only grown more urgent. My fundamental view is that AI has been on an exponential

for the last 10 years, and as part of a sort of Moore's Law for Intelligence, and that we are now well advanced on that curve, and there are only a small number of years for AI models surpassing the cognitive capabilities of most humans for most things. The words that were said there sounded normal and fine, and just normal Dario talking points. It's the reading from the phone that feels like you're a best man at a wedding who didn't really prepare.

More good news. If you're over 65, congratulations. You own the economy. The Wall Street Journal is just blackpilling. The elderly are physically and financially healthier than ever. So why do their needs keep taking priority over younger generations? People over 70 are 12% of the population, but they got 32% of the dollars. They've been stacking paper for seven decades.

And it's paying off. Demographics, rising profits, and soaring asset values have together wrought a quiet transformation in the American economy. The greatest wealth transfer in history is about to happen. The silver tsunami. Oh, is that what they call it? I've never heard of that. That's in the small business acquisition community.

They talk about like a bunch of, most of the small businesses in America are owned by people that are near retirement age. They're going to have to turn over past the torch at some point. Yeah. America is really, really getting older. In 1981, 11.4% of America was over 65, 65 or over. Today, that number is 18%. Do you think some of these people have been DMing Zuck and saying,

hey, look, I'm getting older. I still want to be posting money spreads on Instagram. For sure that. You know, from the afterlife. I'm not giving it away. I'm not passing it down. I want you to allocate it to. It is an interesting predicament that we are in.

As the elderly share of population and wealth grows, their priorities and preferences shape the economy as well. They represent a growing share of consumer spending. Healthcare accounted for all of the net job growth in the last 12 months, reflecting the needs of an aging society. The problem is that while retiree wealth can finance a lot of consumption, workers have to produce what retirees consume. And relative to retirees, workers' numbers are dwindling. One solution would be for everyone to work longer in 1983, Congress modified. Social Security to gradually raise the full retirement age from 65 to 67. The share of people 65 are over participating in the labor force did creep higher until 2020

with the outbreak of COVID that year. Labor Force participation plunge for every group. Eli says, Hey, little Caesars, I think this may be too many emails to send someone for ordering a single pizza. See, John, look at this. Point proven. 1.6 million views, similar to bland. $68,000.

And I'm one of them. So what do they actually do? So they give you the receipt and then they say we're on it. So after you got the receipt, you can't trust that they're on it. Yeah. You got to wait until they send you another email. They say, we have received your order. Almost ready.

Your pizza is almost ready. You would assume they're making pizzas pretty quickly. Go ahead and head over now because your pizza is almost ready. Order loaded into pizza portal with a trademark. Dear Eli, look for your name on the pizza portal in our lobby. And use this code. On the trademarked pizza portal. TM.

Pizza's ready. I bet you can't wait to enjoy your little Caesar's pizza. We understand. And it's waiting for you now. That's amazing. Are you on your way? Dear Eli, your pizza's been waiting in the trademarked pizza portal for a few minutes now. Space in our pizza portals are limited.

Cold pizza. I hope you, dear Eli, I hope you like cold pizza because it's been over 10 minutes since your pizza has been placed. placed in the pizza portal. They're magi. Order picked up. Hey, can you imagine the jump scare on the cold pizza on the subject line?

That's got to have the highest open rate. Wow. Anyway, leave us five stars on Apple Podcasts and Spotify. And we'll see you tomorrow.