Do you think that there's any issues?

There was a a bunch of companies added

to the export control list two days ago.

Some were in quantum computing.

Generally, a lot of it though was in the

Nvidia ecosystem. So, I think that the

the US government is really trying to

make sure that these nextg GPUs don't go

directly to China, but also don't go to

countries that could then redirect them

into China. Did you get a chance to look

at that or did your team look at that

yet? Oh, yeah. And I think this will be

part of you know the upcoming

negotiation between America and China.

But it is hard you know it's like if we

can't you know if America cannot keep

illegal drugs out of you know out of our

own country these GPUs are arguably

dramatically more valuable per unit. you

know, like a black well is like, you

know, the size of this and it's just

hard. Particularly like, you know,

America, we're trying to keep drugs

out here. China is trying to bring the

GPUs in and it's kind of significantly,

you know, I think harder to prevent than

than, you know, smuggling of illegal

drugs. Now, everybody does their best,

but um yeah, the United States, I think

it's always going to be kind of a game

of cat-and- mouse until you get some

sort of grand bargain. And right now,

they they're allowed to sell certain

kinds of GPUs into China. And I'm sure

they'll be Should we be doing that,

Gavin? Is is this going to be an

effective strategy? You know, if you

were advising the president, would you

say, "Ah, just let Nvidia sell them.

It's a fool's errand to try to stop them

because they're all going to Singapore

or wherever Vietnam and and routing

their way around. I think we're putting

enough friction into the

system that it does theoretically give

America an advantage at the cost of

creating tremendous incentives for China

to develop their own semiconductor

ecosystem and you know pressure to kind

of you know necessity is the mother of

innovation and these export controls are

creating an immense incentive for China

to really algorithmically innovative and

you saw that with Deep Seek where there

were some real algorithmic innovations.

Yeah. So said another way, if we squeeze

too tightly on letting them buy the

Nvidia chips, they might make a better

Nvidia. I mean, become resilient. I

think they're doing it now. They're

trying now. So that's Well, they're

trying, but I guess what are the chances

they succeed in your mind, Gavin, in

creating something competitive with or

better? And then what would that say

about the AI race in the next five

years? is I think zero. I think it's

really really hard, but over the 10

years, who knows? And if you're the CCP,

10 years isn't that long. If you're

America, 10 years is an eternity. Yeah,

they're thinking in centuries and we're

thinking in decades. Yeah, that's

probably correct. Hey, um let's pivot

over to AI agents since we're in the AI

and obviously there's other big topics

this week. We'll get to you doing

politics and uh signal and all that kind

of good stuff. But we have a company

that seems to be, you know, having a

moment. It's called Manis, uh

Mus. It's currently in private beta, but

they're creating agents, and we've been

talking about this agentic revolution.

Basically, little, you know, jobs going

out. We used to call them crown jobs

back in the day, but going out and doing

things for you. and it seems to be

working and it's pretty impressive. What

do you think about this company

specifically, if anything? And are we

getting to a point where we're going to

have the same chat GPT 2.5 moment, but

with agents? And then if we do have

that, Gavin, what will that look like in

terms of employment and how companies

are run? Look, I do think uh

if agents materialize as a reality and

you know, Manis is maybe a little bit of

a chat GPT moment for that. I would say

OpenAI and Enthropic. Enthropic

developed something called the model

context protocol that OpenAI just

adopted. I think it will become a

standard and it makes it really easy for

an LLM like Stripe can just integrate

with MCP and then any LLM that uses MCP

can you know interact with

Stripe and this is solving a big big

problem for agents um in terms of just

making them you know much easier to use

much more

standardized but if agents become a

reality one the ROI on AI high in

Blackwell is going to be very high and

two what will it's not good for human

employment but what will be kind of I

would say the rate limiting factor is

just compute in a world where we all

have agents doing things for us all day

long it's going to be a long time before

we have enough compute in the ground for

that to be a really really widespread

reality and I think that's why you know

open AI was talking pricing their first

agents at $2,000 to $20,000 a month.