You know what I thought about doing,

Scott?

>> What's that?

>> I thought about going down to the

courtroom when I was in San Francisco

cuz I had some free time and just

sitting and waving at him. Hey girls,

what up?

Let's get to the news. Um, the FCC, this

story, Scott, has ordered Disney to file

early renewal applications for its ABC

owned broadcast licenses. These are

these are affiliates in different city

years ahead of the normal schedule. The

commission is citing an ongoing

investigation into Disney's DEI

practices as justification. More

notably, it comes days after Trump and

Melania renewed a push to take Jimmy

Kimmel off the air after he made a joke

about Melania being an expectant widow.

Uh Disney is pushing back hard. The new

CEO is not having it and he's being

supported by a range of companies and

everything else. This is a step too car

far for our good friend and [ __ ] uh

Brent Brenda Carr. Um I'm calling him

Brenda. Um who is a [ __ ] He's a [ __ ]

and he's just such a nakedly political

although I wouldn't want to say him

naked political person who is just

carrying water for the Trumps. Melania

doing this was you know fascinating.

But, you know, Kimmel's just emboldened

and has put out a series of things and

and no one's no one is putting up with

this [ __ ] and they're going to lose. The

FCC is going to lose in court. But what

a harassment of an American company, a

classic American company. What do you

think about this?

>> Well, I actually saw Kimmel's response.

I mean, the reality is late night TV is

dying without the help of

>> Exactly. Yeah.

>> And in a weird way, it kind of helps. I

think Jimmy Kimmel, all the late night

people are extraordinarily talented.

that is to be quick on your feet,

hardworking, come up with new material

every night. They're extraordinarily

talented people, all of them across the

whole spectrum,

>> right?

>> And I'm actually trying to get Jimmy

Kimmel to come be the interview for our

uh Propy Markets Live in Sat uh in uh

Los Angeles. Anyways, Jimmy, call me.

So, I think it'd be very interesting to

have him talk about it. I think I don't

think Jimmy should have I watched it

where he addressed it and said, "Of

course." I think he should just double

down and say, "I stand by everything I

said.

>> It's humor. He has he hasn't ensuing

skits are very funny.

>> He did he did he's done a series.

>> Okay, this is this is what's going on

here. Fascism. So, who said they're

poisoning the blood of our country? Oh,

that was Trump.

>> Oh my god.

>> Who described political opponents as

vermin?

>> Yeah, they Oh, come on.

>> Who told the squad to go back to where

they come from? Who who who said that

Adam Schiff was guilty of a crime that

is punishable by death? That's treason.

The dehumanization, the

delegitimization, the exclusion, the

criminalization,

the existential threat framing. No

individual in public office has done

more of this

>> in the world

>> than Donald Trump.

>> Can I interject? One of the things

that's incredible is that

>> these are the free speech warriors,

right? And I'm like, where are where's

all those folk? Where's the folk at the

free press? Where's the folk? Where's

Elon?

>> Comedyy's illegal. Remember that one.

Comedy should be legal again.

>> Where's Elon? I know he's busy in court

losing his mind, but

>> which isn't a very far stop. Um, but at

the same time, former FBI director James

Comey has been indicted yet again for

making a threat against President Trump

by photographing seashells on the beach

that said uh I think it's 80 86 46 47

whatever whichever president he is. Um,

it it was funny and he was just doing

it. And by the way, a lot of the right

had done it to Biden like 86, whatever

number he is, 46. Um,

>> I was a waiter. 86 men were out of

pumpkin soup. We would write we had a we

had a chalkboard that said claims it's a

mob kill.

>> He claims it's a mob killed name because

he lives in the 70s of New York, you

know, but this is like his his approval

ratings are underwater.

It doesn't work. It because everyone's

heard him talk like and then the culture

wars turning up the volume seems like

hey dude that was last year or two years

ago that worked and doesn't work anymore

cuz I think everyone's I mean Disney's

pushing back. This is just like an

astonishing array of like pe what I'm

more interested in is like Brenda and

the and and uh this guy who's running

the DOJ. I thought Pam Bondi was bad,

but Todd Blanch is competing for

suckiest sucker. A suocrat, if you will.

The enablers of this guy that go go for

it are really quite astonishing to me.

Even

>> Yeah. But isn't aren't we aren't we just

disappointed? I think we always blame

our political leaders and he is the

culprit here. But I'm shocked there

isn't more push back. I I just people

seem to be

>> I think we've become complacent. I think

we've taken a lot of our our norms and

our rights for granted and that people I

think people are complacent and I I'd

like to think that the midterms will

show maybe that they're not.

>> Yeah. Well, maybe the voting rights

>> people maybe errantly assume that things

will revert back to normal at some point

and

>> Oh, I don't think they're complacent.

There's been a lot of push back to the

Kimmel stuff and the Comey stuff. I just

think people are like, you know, enough

of this [ __ ] [ __ ] Why is he

taking up so much of our brain oxygen on

this nonsense? I think people are

>> It's working, Cara.

>> What? Hm.

>> I It's working. I think it's I think

it's sent a chill across all of all of

cable TV.

>> I don't think so. You look how Disney

has reacted. They're like, "No [ __ ]

way." Before it was a little bit

>> I know firsthand from a bunch of

producers that the legal cost in the

review of stuff has gone way up. And

anything that feels on the edge, they

say, "Can we say something else or can

we lighten the language?" I think this

intimidation and this chill is working.

>> Well, I don't know. I don't I don't

think I don't think it is. I don't think

it's going to work and I don't think it

it works. And you know these people like

Let me just tell you, Brenda, when you

leave office, which you will at some

point, I'm going to follow you

everywhere. Everywhere you try to get a

job, I'm going to bring up all your

terrible things. I'm going to make sure

people know what you did. I'm going to

make sure people understand who Brenda

is because there's nothing we can do

about Trump at this point. I was just

thinking that he is in our head so much

we have to like remove him from our head

but it doesn't mean ignoring him. It

means removing we get so sucked into

their ridiculous comical toxically

comical drama. It it's got to be time to

say, "You're in our [ __ ] rearview

mirror, old man. Old cankle, you know,

man of cognitive questionability like,

and move him along, you know, just move

him along."

>> You brought up you brought up an

interesting thing, and that is the media

just doesn't know how to cover Trump.

Showing up dressed to the nines to have

him say he's delegitimate at a in a

windowless ballroom. Okay. Clearly, the

media does not know how to deal with

this guy. The idea I like

>> 10 years now, 10 years.

>> The idea I like is newspapers and uh

cable news companies all do the

following. Instead of having four or

five stories in a narrative about what

he's done and interviewing people about

how ridiculous it is. I think I think

they should have a twominute segment and

one page on the back page that are the

following. This is what Trump said

today. And just really quickly outline

it. Today he accused

>> he he brought up he said this about this

person. He said these these people are

animals. He said the shell thing and

just do it really quickly. This is what

Trump said today.

>> Yeah.

>> And sequester it and you can get it all

in one place because what happens now is

22 of the 27 minutes or I'm sorry 18 of

the 24 minutes, whatever the the the

actual content load is on TV is

different stories that involve him. I

>> agree.

>> And he is like he is like a Star Wars

character or a a villain, a Marvel

comics character. He gains power from

conflict.

>> Yeah. Exactly.

>> And from um controversy.

>> Yeah.

>> And what I'm saying is what I I think

they should do is I think they should do

the news

>> and they should just take everything

Trump and go he said this this this and

this today. We'll see you tomorrow

night.

>> Yeah. They make segments about it. Yeah,

they do. We got to like we as as

Jennifer Welch calls him ring fence it.

>> Ring fence him and be like he I was I

was you know what I did when I was

coming back from San Francisco? I walked

into a store and I bought an actual book

and um I was like that's enough. I was

like I'm gonna read a book not read not

like participate in the social media

around him. I mean it's sometimes it's

fun and I really have to say Jimmy

Kimmel's actually doing a great job

about he said he's finally brought

Melania and Trump together. He's using

it as content which he should do. Um,

but in a lot of ways just laughing at

this poor obese old man is I think the

way to go here. Mock him relentlessly on

all manner of things. And then his It's

not ignoring it because I think that's a

mistake. There's a lot of people telling

me I'm just not reading it at all, which

could come off as I'm not engaged. But

>> you know how on page three of the Sun

they used to have a naked hot woman?

Yeah.

>> Page three of every newspaper. This is

the [ __ ] Trump said. This is what Trump

said today. Just list it all 10 minutes

every night. National news cover the

news. Try not talk about what's going on

in Iran. Da da da. And then

>> Yeah.

>> This is what Trump said today.

>> Yeah.

>> And that just go through it all because

he he is totally dominating the news

cycle. He gets energy from conflict.

People see it as authentic and and

leadership. And he like

>> I just can't

>> just There's so many idiot characters

like that smug piece and that smug

deflection of Pete Hegath is smirky.

Like literally that's his like hearings.

It's he's so smirky and stupid. It's

really kind of like I don't like these

characters anymore.

>> Representative Molton was good.

Representative there was some there was

some really good I'm

>> I'm actually I feel bad. I'm actually

consistently impressed with some of our

elected representatives. Oh, I meant to

tell you before I forgot. I went and did

something you would love. Have you heard

of um

>> Neco or Niko? Neo. Neco.

>> No. What is it?

>> It's this advanced preventive healthc

care concept from the founders of

Spotify. No.

>> So, I just want to disclose. I got no

compensation for this. This is not It's

going to sound like an ad.

>> Okay.

>> You go into this place and they

basically take your blood, put all sorts

of cuffs on you for blood pressure and

measurement. They have all these lasers

and scans and then they take you go into

this tube and they take 2400 pictures of

you. Okay, but here's the thing. It's

amazing. And then they do it all

immediately. Give you put you in a room

with a doctor and they go through

everything visually in a very user

friendly. It was like something out of

the movie Gatka.

>> And I thought, okay, how much I I said,

I need to pay because I don't want to be

seen as I I don't like the whole

influencer thing. I'm like, I need to

pay. I have the money.

>> Do you know how much it was?

>> How much?

>> It was £300.

>> Oh. Oh, they Oh, in

>> I thought it was going to be 3,000

pounds.

>> Oh, wow. Interesting.

>> And you get a baseline of all your good

cholesterols, your bad cholesterols,

your circulatory health, uh, everything

about it did change my behavior. You

know, I have one of these ridiculously

expensive concier things. This thing and

there was a line out the door to get

into.

>> That's a great This is what they do at

Korea for everybody. Everybody gets

these tests once a year. And it's the

guys from Spotify and they're I I'm I'm

such a huge They're trying to

democratize

>> advanced preventive medicine. It's

called NECA.

>> I like that idea.

>> And you get and you get a baseline that

I mean

>> they did this thing with 2400 pictures

of, you know, basically you're naked to

look at I'm very fair and I'm prone to

skin cancers. And they said, "All right,

you have 2200 marks. All of them are

fine except for these 12 300 lb."

Anyways, I was blown away. We should

have filmed at this thing. And and also,

you and I have discovered by watching

your show and going to Neco.

>> I try to run once or twice a week and I

was always I rode crew and one time I

was in very good cardiovascular health.

I push myself running. That's just the

way I run. And I time myself and I try

and lower my times and I row and I try

and get my

>> 100%. I have I just figured that out.

They're like, "No, what's it called?

zone two or level two where you

supposedly can have a conversation but

you can't sing

>> zone one two and three.

>> So I last night I ran slowly jogged for

40 minutes and that's supposed to be the

way to do it. But anyways and

unfortunately unfortunately they say the

same [ __ ] thing to me. I'm like how

do I change my diet and and Dr. Pramla

and I asked her if I could use her name.

She said the same thing. They're like

well they're all so polite. They're like

you may want to consider drinking a

little bit less.

>> Yes. I think you may want to do that. I

think you may want to

>> you may want to consider drinking a

littleing you. This is so great. By the

way, this week's episodes about about

loneliness and uh connection. You'll

like it. All right. Now, we got to get

to a rundown of latest big tech earnings

are all over the place, which are uh

some are calling AOI's moment of

reckoning. First up, Alphabet. The

company reported a 22% surge in first

quarter revenue with sales reaching

around 110 billion. What a number. Net

income was up 81% compared to the same

period a year ago. Shares for Alphabet

are up 15% year-to date at the time of

this taping. Microsoft, the company,

beat expectations with revenues

increasing 18% year-over-year for the

quarter. Capital spending for the

company will reach 190 billion, though

this year, a 61% increase over 2025.

Amazon beat expectations, expanding

revenue in its cloud computing segment

by 28% year-over-year. The company

announced it expects to spend 200

billion on AI in 2026. And finally, Meta

reported lower than expected capex uh

missed on user growth, which is

interesting. This is the first time,

which attributed in part to internet

disruptions in Iran. They're blaming

Iran. I don't think so. Daily active

people was down over 5% over the fourth

quarter. In better news, revenue climbed

33% from a year earlier, making it the

fastest growing quarter since 2021. So

what jumps out at you about these four

uh uh companies besides their enormous

spending on AI obviously

um but what's what jumps out

>> AI I used to say this the attention

economy it's now the it's now the

ketamine economy where it's dissociated

from everything else but AI and I said

yesterday on prop markets that I thought

these guys were going to blow away their

expectations because what do they

monetize they monetize spending around

AI and And up until today or until AI

came on they the driver was they

monetized attention with everything

that's going on in the world. Are you

less or more glued to your phone? I I

can't stop looking at my [ __ ] phone

like okay who did we bomb today or what?

So let's just go through the earnings

which were nothing short of staggering.

Alphabet's revenues were up 22% to 110

billion. They beat consensus. Their

consensus was $5 was 263. They came in

at 511. And although some of that was an

unnatural equity gain, Google Cloud hit

20 billion, up 63% with their backlog

doubling. Search revenue 460 billion.

Jesus Christ, their backlog's a half a

trillion dollars.

>> Search revenue, which was supposedly

going away because of Open AI was up

19%.

>> Well,

>> Gemini paid monthly active users is up

40% quarter on quarter.

>> Gemini is doing well, I would say. But

go ahead. fullear capex guidance went

up. The investors don't like that

because as strong as their topline is,

everyone's saying we need to spend more

money. Their stock was up 8% in after

hours. Let's talk about Microsoft. Azure

grew faster than anyone expected. Uh but

they had to boost their capex guidance,

which investors don't like. Revenue up

18% to $83 billion. They also beat

consensus wildly. Azure grew 40%. The AI

business crossed 37 billion annual run

rate. That's up 123% year-on-year. Their

commercial backlog is up to 2/3 of a

trillion, 627. Their QN capex was 32

billion, but it's been raised. Their

fullear capex, they've raised 190

billion, well above the 155 they'd

expected. Open AAI committed an

additional quarter of a trillion dollars

in Azure spend the day before the print,

but the stock was down 2%. Meta

Jesus Jesus Christ, Cara. Meta revenue

was up 33%

to $56 billion.

>> Efficiencies of AI. This is

>> earnings of 10 of $1044.

Um although a bunch of it was a tax

benefit. Ad impressions were up 19% and

their uh average price per ad was up

12%. Q2 revenue guided to 60 billion

which implies 25% growth. Fullear capex

again this is what investors don't like.

They raised to 135 billion from 120 and

then um also higher component prices and

the stock fell 9% after hours. Last one,

Amazon

>> fastest growth in 15 quarters, but free

cash flow collapsed because of their

capex. Again, good. What the analysts

love, they're blowing away their top

line. What the analysts hate is they're

all saying we need to spend more money.

>> Revenue was up 17%.

EPS blew away but unfort that was

because of a recognition of a gain in

anthropic stock that from their

investment there AWS hit 38 billion up

28% advertising grew 24% Q1 capbacks

again what the analysts don't like went

from 44 billion um uh I'm sorry capbacks

44 billion full year at 200 billion free

cash flow fell see above they're

increasing their capex openai re

recently committed to consume two

gigawatts of tranium capacity uh through

AWS. So all of a sudden they're getting

into the chip game and stock rose the

stock rose 3% after it is literally I

I'm on so I sit in a lot of what does

this say to you?

Oh my gosh. A beating the world.

>> Yeah. Yeah. Go ahead.

>> It is living up to its expectations, but

the capex required to live up to those

expectation to deliver against the

demand is sucking is basically like like

taking all the juice out of the

earnings. The capex requirement to live

up to the demand, the infrastructure

buildout.

>> So when does that stop? It's sort of

like having a hot spouse that requires a

lot of money for you to stay.

>> Yeah. Trust me, I know that feeling. Uh,

what does it require?

>> What does it what does it require for

that to not

>> must work hard? That's what I would say

to myself. Must work harder. Um,

>> well, they're doing that.

>> Must work harder. Uh, what does it

require?

>> When is the spending going to stop?

Well, when a big a big customer

announces they're reducing their spend

IAI or one of these companies announces,

OpenAI basically said that they kind of

[ __ ] the bed that their their numbers

didn't meet expectations, but the bigger

guys, these players are all just on

fire. I don't see

>> Can I note the open thing you just

referenced? There are internal concerns

about the company's spending plans and

its user revenue targets. According to

the Wall Street Journal, Open I missed

internal goal of reaching 1 billion

weekly active chat GPT users by the end

of 2025 has seen subscriber defections.

I think that's all due to you. The

company is also denying there's a rift

between Sam Alman and CFO Sarah Frier

over computing resources and they're of

course approaching their IPO although

they're we'll get to their trial next

trial with Elon um which is also another

distraction. Um, but they're they're

seeing a lot of bumps as they go into

it. So, is there like a reckoning moment

or what? How do you look at it? Just one

big customer.

>> By the way,

>> I started on my next book. That's the

name of it. The reckoning.

>> Oh, the reckoning. Oh, didn't I use the

word reckoning? I feel like I inspired

that. You liked when I said reckoning

last week.

>> If the book works, if it's a bestseller

was your idea.

>> Okay.

>> I think there's a reckoning coming in

America and I think there's a reckoning

coming in the markets. like what is the

but keep in mind that this AI is now

sucking so much oxygen out of the out of

the room. I sit in a lot of VC pitches.

If you're not an AI company, you can't

raise money right now. I mean, it is

very difficult. And by the way, I'm on

the board of an AI company that's

growing 4x a year. And they're like,

that's not enough. Unless you're growing

10x a year as an AI company that's

purely software. this company called

Rogo that is uh it's a great great

little company that is basically AI for

financial institutions. They just closed

around at $2 billion,

>> right? No, it's nuts

>> on on I think I think it's trading at

100 times revenues or something insane

and they're going to get they raise $100

million. You literally if you are not an

AI right now and growing, you know,

five, seven, 10x a year, you can't raise

money. And this is it is a in my opinion

it's a it's a kind of a all of the GDP

growth is coming from the capex and AI

all of the earnings growth 77% of the

earnings growth is coming from the MAG

10 right

>> we are becoming said this before yeah

the price of gas

>> America is a giant bet on AI and people

are people are wondering

>> and breakfast with a big tech CEO today

they kept people are really how is the

S&P hitting all-time highs with such

geopolitical uncertainty and oil at 110

bucks a barrel. And the reality is

America is now a giant bet on AI. And I

in a weird way, the the war in Iran kind

of helps these guys. First off, none of

these guys are affected by high oil

prices.

>> They were all at the White House last

week with this week with King Charles.

Every one of them was there. Again, by

the way,

>> all of them.

>> And then, by the way, the high oil

prices, that money, the additional cost

circulates within our economy. It hurts

consumers. But Chevron and Hallebertton

are making a [ __ ] ton of money, right?

>> So, it's oil mogul and tech moguls.

>> We're a net That's right. We're a net

exporter. And there's a very unhealthy

thing

the And I'm writing a thing called the

ketamine economy. And that is

>> ketamine supposedly is

dissociate and you can see your issues

and your addictions and your problems

and forgive yourself and have a better

handle on stuff. And people say it's a

world breakthrough. The the most

dangerous thing I think about the world

we live in in America right now is that

if you live in America and you're in the

0.1%

you are not invested in the well-being

of America. Why? Do you care about

infrastructure? You don't care about

TSA. You don't care about airports. You

don't care about you. You have you go to

Teter Bro and you're flying your own

plane. Do you care about the fact that

40% of third graders can't read? No. You

have your own private schools where they

spend $75,000 per student. Do you care

about policing and safety? No. You live

in a doorman building in a neighborhood

that is so overpoliced and has so many

cameras. You're just fine. Do you care

about the health of America? No. You

have concierge medical services that

give you everything you need. The wealth

the people who control our government or

have a disproportionate influence have

totally dissociated

disassociated from America's interests.

And even more frightening is that

America, you could argue, has

disassociated from the global interest.

Do we care about high oil prices?

>> Not really.

>> Wow.

>> Do we care about HIV infections in

Zambia? Not really.

>> We have two oceans protecting us from

chaos, disease.

>> I I'm not so sure about those things.

>> You could argue eventually it hits our

shores, but right now the markets

>> No, the market the rich people. I get

it. It's a Pierre don't care economy. Do

you know the book Pierre don't doesn't

care? I don't care. That it's a it's a

wonderful um children's thing where he

eventually gets eaten by a lion because

he doesn't care. He always says I don't

care.

>> But that's what they're like. It's a

peer I don't care group of people.

>> We have to figure out economic policies

that give the wealthiest people in our

nation a vested interest in the success

of America.

>> Yes. The people I'm telling you there's

an anger. You can feel it. It's palpable

that they do not hear.

>> Hope so. They have gone from they have

literally gone from heroes to villains.

And let me say I get it everywhere I go.

Everywhere from and it's not you know

like oh it's the you know it's the

people you know the working class. It's

everybody who's not like them and it is

angry. It is deeply and profoundly

angry. And even more so than it at Trump

they sort of have it's all figured in.

he's a terrible person or if they don't

like him. And even the there was just a

really interesting story about all the

people that voted for him are like we're

very disappointed and we now regret our

vote which is sort of like okay

>> or fine whatever. But there's a there is

a growing anger that I think they do not

understand of v of them being villains

and they're behaving like villains. um

we have to move on but we'll see where

this goes because if they're the only

ones that benefit and all the other

companies don't there isn't as you say a

reckoning it's a great word it actually

is from the middle English I'll just

read this to you from narration account

settling accounts and it's about the act

of calculating estimating or settling

accounts often carrying a connotation of

judgment retribution or facing

consequences

reckoning

>> yeah it's the act it's the act of

setting accounts and consequences.

>> That's right. Scott's going to have a to

give you a reckoning. Anyway, um let's

take a quick break. Speaking of

reckoning, um when we come back, Elon

takes the stand.

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Scott, we're back. Elon Mus took the

stand this week in a trial against

OpenAI. Let's go through some of the

things he said. He was a quote fool to

provide OpenAI's early funding. He

discussed his concerns about AI and not

wanting to have a Terminator outcome. He

accused OpenAI's lawyer of trying to

trick him. When asked uh why he brought

the suit, Elon said it's not okay to

steal a charity, warning if he loses it,

it would give license to looting every

charity in America. By the way, Elon is

not charitable at all in any way. FYI,

the judge pushed back, reminding juries

that Elon's claims and his opinions have

no legal value whatsoever. As I

predicted, a number of prospective

jurors had thoughts about Elon, with

some calling him a greedy, racist,

homophobic piece of garbage and a

world-class jerk in questionnaires. Um,

I think his his this has not been good

for Elon. One of the things that Ellie

said is they're not used to being um

when he gave us that uh video last week

was that these that they're not used to

being challenged publicly and he is

losing his brain on he looks terrible

and he needs to control himself which he

speaking of ketamine he cannot he has no

ability to do so. Um I'm going to be

fair to him. He was the first person who

did talk about this Terminator outcome

15 years ago to me or something some

maybe 10. Um and he was the first person

to be very worried about it. He shifted

becoming less worried over the various

interviews. At first it was Terminator,

then you were a house cat and then we

were like ants that are just going to

get covered by a highway which isn't

mean or anything. Um, but one of the

things I would say is he started off

that way and then he immediately lost

his mind because he he tipped out of

Open AI because he thought they couldn't

make it. And these emails talk about

that and he signed away his rights. He

did give them 38 million, not 100 as

he's claimed in other depositions. So he

keeps changing the number. Um, which

isn't good when you're under oath. Um,

but one of the things that uh is very

clear here is that he shifted to being a

greedy hypocrite and started his own

company that includes non-consensual

uh uh sexual images and child

pornography. So, it's not like he's here

to save us and he's trying to put

himself off as someone who's worried

about uh AI and is fully participating

in the damage it does. Your thoughts? So

what I what I have heard how this went

down and very like broadbrush actions

that kind of give a sense of the what

went down here and tell me if you've

heard different

>> is that Sam actually tried to raise $500

million when it was a nonprofit for the

nonprofit and was unable to do that.

Elon showed up and said this needs to be

a for-profit company and I need to

control it and own 80% of it. after he

had given the money. Yes, that's exactly

what happened.

>> And the people there said, "No, we're

not up for the for-profit Elon controls

part of the game brand." He does that on

every company. But go ahead.

>> So he said, "I'm out." And he signed

paperwork. This is the This is literally

the biggest example of sellers regret in

history.

>> You're right. And then the other fact

pattern here about his quote unquote

trying to pretend he's more noble than

he is and he's really worried about AI.

Who went on to develop an LLM that most

experts would say has the fewest guard

rails? Elon with XAI.

>> Yep.

>> So the fact pattern here, the narrative,

and this is my prediction. I don't think

Open AI, I said last week I thought they

were going to settle. I don't think Open

AI wants to settle. I think their

attitude is

>> I think I think Elon's either going to

drop the case or lose.

>> Well, it's a jury trial and then the

judge decides on the referee whatever

the remedies are.

>> It's a it's

found

>> right.

>> But if they're found if open AI is found

not guilty or that there's then it's

over.

>> Oh, he could I bet he could appeal. He

can always appeal. He's got so much

money.

I mean, Trump's going to appeal the

Eugene Carol thing to the Supreme Court

now that he's lost in the appeals court,

>> the 83 million.

>> Shocked he wants to keep bringing that

up.

>> Well, he doesn't want to pay 83 million.

He doesn't want to pay that. He'll have

to pay that if he if the Supreme Court

doesn't bring the money down presumably.

>> He wants to get it to 10 million.

>> He's going to have to pay or something.

>> Launch another coin.

>> Yeah. Anyways,

>> back to the Open AI case. Everything

I've seen fits this narrative that Elon

once this thing became commercially

viable, he wanted it to flip to

forprofit and he wanted to own it all

and that he legally gave up his

ownership and his governance rights.

Well, one of the things he was concerned

he absolutely and one of the interesting

things I love them being under oath

because now I finally hear the things I

thought were true like that Larry Page

and he got into an argument cuz he was

he was a doom a doom doomer for sure

back then and Larry Page called him a

speciesist for being concerned be overly

overly negative which I'm like yeah this

we like the the human species just sorry

You know, these people, these people, I

can't tell you. I'm so pleased for

people to see them as they are, right?

You know, when someone said greedy,

racist, homophobic, piece of garbage,

I'm like, you see what I'm saying? Like,

jerks. Um, don't care about people. This

whole thing is fantastic because they're

under oath and they have to show

themselves and they also have to show

how they're trying to present

themselves. Like Elon is the savior of

the world when he has decimated. He's

responsible for the millions of these

deaths that are going to happen because

of USID. He's responsible for all manner

of stuff that he's been doing on

Twitter. And he wants to present himself

as it is like Thanos. Thanos has an idea

of himself as a hero when he's the

villain because he's he's helping the

human race and he talks about it.

>> To me, this defines Messiah Complex.

Full stop. He He's the guy to to

colonize to turn us into an

interplanetary species. Only him. He's

the one that should control AI. He's I

just And I It's literally I'm Jesus

Christ.

>> Yeah. Yeah.

>> Yep. I would agree. I don't know. I

don't think it's good for him and I

don't think him getting agit this lawyer

actually worked for him at one point and

then worked against him. So, he's

familiar with this firm and he's just

losing it on the stand, which is just

what he should not do. He should be as

calm as cucumber and he can't be. And

it'll be interesting the contrast with I

think Sam will be smooth as silk. I

think he's not online. On online, he's

kind of sad over on Twitter. Sad Sam and

Elon's crazy Elon. And by the way, an

increase in white supremacist post, too.

Um, but Sam has got to hold it together

during and so does Greg Brockman. Um,

and so does Satcha, which will help

anchor Open AI quite a bit, as you said.

So, we'll see. You know what I thought

about doing, Scott? I thought about

going down to the courtroom when I was

in San Francisco cuz I had some free

time and just sitting and waving at him

>> just to get him even more riled up.

>> Just troll him.

>> Hey, girl.

>> Does he show up? Does he go to court?

Oh, he's on the stand. I guess they're

all in court. They're all there. It's

that's they have to go, I guess, because

I thought about going and just waving at

all of them going, "Hey girls, what up?

What's can we all get along?" That kind

of stuff,

>> but and I didn't. I I hung out with

Lily.

>> Okay, let's go on a quick break. When we

come back, Taylor Swift fights back

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Scott, we're back. Taylor Swift has

filed a new trademark application for

two voice clips in one image that are

likely uh an effort to protect her voice

and image from AI misuse. This is

something a lot of celebrities are

doing, but she's probably the biggest

one. The voice clips are sound

trademarks covering Swiss voice with

clips of her saying, "Hey, it's Taylor

Swift and hey, it's Taylor." Registering

a celebrity's spoken voice has not been

tested in court. Matthew McConnA has

also trademarked his use of his images

and voice in January. It's an

interesting strategy. Um,

and she she did an really interesting

interview with Joe Casarelli, who I love

at the New York Times, called the 30

Greatest Living American Songwriters.

Really wonderful story. It it does a

range of people and it's really

terrific. Let's listen to what she had

to say. If there's any way we can make

confessional songwriting a little bit

more of something that isn't like people

take that as sort of like you were being

messy or whatever, you you have to be

fair to everyone. Then are like are rap

beefs messy or are they confessional?

Like we've got to just like let's make

it a music conversation rather than just

like ganging up on the female artists.

And I think the more male artists that

are messy or emotionally complex or

confessional or upset,

um, the happier I am. And then thirdly,

this Universal deal is going to trigger

something in her contract that's going

to force, uh, Universal to pay out all

its artists, even if they gave them

advances. um if it sells, she put it in

to protect herself, but it also uh she

the the way she wrote it, everybody who

is at Universal will have to be paid

out. So, she's getting enormous payouts

for all the artists and this possible

deal for Universal, which I think will

endear her to many artists. Um what do

you think here about any of this? I know

you don't like her, but she's a

tremendous business person.

>> I never said

>> I know you don't like her music here. I

don't that's not fair to say I don't

like her.

>> Okay. not her music. Excuse me.

>> Yeah. Uh so look, the

I I'm a fan of bearing on the side of

protections around people's IP and

essentially

Google coming in and crawling every

media company. Um people using people's

likeness, their voice. I I I believe

Jensen Hong said it. Everyone should own

their digital twin. And that's not only

the physical rendering, but also your

voice, your likeness. People spend a lot

of time and energy trying to develop IP

that they own that they can decide to

give to their heirs or sell their

catalog or their likeness or their image

and they should own it. And so I'm a I'm

a fan of these cases and the fact that

she's doing it on behalf of other

artists is really wonderful. And she's

very high-profile and people have

enormous affection for her. So she has

she's immediately going to get public

support for whatever she does. So, I'm a

fan of this. I'm a fan of how she's

handling it. And we need

these companies. I think you said it or

your your partner Walt Mossberg said it.

These guys are pickpockets. And

>> rapacious information is what Walt said.

>> Yeah. So, and now they're stealing

likeness. I don't I and I think that I

think the I think the um solution here

again they'll come up with the illusion

of complexity in that is they can

calibrate how closely they get to the vo

to her voice without it triggering an IP

but I think it's pretty simple I think

someone should be representing authors

and artists and past celebrities and

they or their heirs or their state can

either license it into a giant pool or

not and then every time it is used and

you have an AI crawl it every time an AI

takes takes takes a a sentence from your

book or lets someone speak in your

voice, you are entitled to x percent.

Music artists have been doing this a

long time. When you listen to

>> Let me ask you, let me plum that. When I

Ann Lamont was on stage with me this

week, she talked about how she she got

the AI to write something in her voice

and she said it was actually better, but

it wasn't her. But they had crawled so

much of her stuff. So, are they making

her or a ver a faximile of her? And what

happened to your Google thing that you

did? Was it Google when they did the

Scott gallery teacher?

>> What happened? You never said what

actually happened. You took it down,

right?

>> Yeah. I started working on it a year

ago. Yeah.

>> I think so. I was getting a lot of

emails from people, young men and

mothers, asking for advice, and I

couldn't keep up with it.

>> So, I said, "Upload." and they a former

student of mine who's a Google product

manager came and said we have something

called portraits we're doing it with a

bunch of doctors we're doing it with a

bunch of historians where we we we

upload everything you've ever done and

someone can come to an avatar and ask

questions and it'll give something

pretty resembling a reasonable fact

similarly the answer you would give and

I said that sounds great and I started

working on it about a year and a half

ago took him about six or nine months

and I tested it and it actually did if

it said should I get an MBA or it asked

good questions and gave it a reasonable

answer.

>> And then you actually [ __ ] it up for

me. You did that interview

>> with those parents of the kid who had

committed suicide.

>> And I thought, okay, am I going to be

part of the problem here where I in

inadvertently sequester young men from

asking their parents for advice, finding

real people, finding mentors, finding

friends? And it came out. The day it

came out, I started testing it and I

just felt really uneasy with it and I

called

>> saying I [ __ ] it up. I showed you an

better way to live.

>> You illuminated me.

>> Okay.

>> You illuminated. Let's try to work on

our words with Cara. Okay. Okay. All

right. Go ahead.

>> Better words.

>> Better words.

>> Uh and then I called, to Google's

credit, I called them and I said, "I got

to be honest. I just feel really

uncomfortable with this. I want I can

see how it might be helpful, but I can

also see how some young man doesn't ask

a friend or his dad for advice and

instead says, "Well, Prop G said this

and it's just

>> Anyway, so they took it down and and by

the way, the major I think the m

>> it's it's gone. It's you can't find it."

>> Yeah, they took it down.

>> We'll see.

>> Except when I go or my understanding is

they took it down.

>> It's in some fault like a mummy. Okay,

go ahead. But you can say in the voice

of Cara Swisser,

>> yeah,

>> please write this thing. And my my view

is they should be able to do that, but

only if you have agreed to have your

stuff crawled. And the more people who

ask, say this in the voice of Caris

Swisser, you should get a royalty check.

Similar to the way artists do it, music

artists do it. When you listen to Kroq,

rock of the 80s in the 80s, and they

were constantly playing B-52 song Yeah.

songs. At the end of the year, they

would send a check to Warner Brothers

and the B-52s would get a check.

>> I don't This has been

>> because I I did that Simpsons thing and

I got an enormous check the other day

and I'm like they can do it and they

Hollywood sucks, right? Like it's

astonishing and it goes way back when I

was with um uh the Google twins where

they were stealing books and were Carol

what is the difference if we take their

books? I was like, "You shocking

shoplifter." And or they take

television, their mentality is to take

it from you, which is interesting. So,

I'm glad someone like Taylor Swift is

really pushing back. It'll be

interesting to see if it could apply to

all of us because I think it will

benefit because you you you are easily

this would work really well if someone

just didn't work with you to do it, but

just did it. Um, so anyway, in an

upcoming episode of my show, I make one

of these and it's really frightening and

and I I don't like

>> When you say one of these, what is

>> I made the keratar. I'm going to give it

to you for Christmas. I made a a digital

3D version in a box of me and you it

looks like me sitting in a chair like 3D

version and it speaks it talks like me.

It's it's um it's me and uh it's not you

know it's like a faximile that's not

quite um me but it is um and I'm sending

it to you for Christmas the whole box

it's great it's going to go

>> but again I like I I like the idea of

this as long as you sign up for it

because you might decide have at it or

after if you're like me and you think

once you're gone it doesn't I would like

my heirs to get a check because people

say in the voice of Scott Galloway write

about income inequality whatever it is

Right. So, and I think a lot of artists

and a lot of writers and a lot of

singers would would agree to this.

There's a model for it.

>> Yeah, absolutely. Well, we'll see. But

you're getting that for Christmas. The

keratar. It's great. We'll have it

forever. Um and it will add to things

right up until my f my dying breath.

Anyway, um one more quick break. We'll

be back for predictions.

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Okay, Scott, let's hear a prediction.

I'm going to go first. I do think The

Devil Wars Prod is tracking to be like a

$200 million movie its first week. Um, I

think a lot of these movies, whether

it's uh Project Hail Mary, this movie,

um, it there's a lot of love for movies

that are just wellmade by Hollywood and

good and fresh that feel fresh. So, I

think these movies are killing it at the

box office cuz people and they're

actually watching it in theaters, too.

They're not just waiting till it goes to

digital. They like the community

experience of it. And so it's a really

interesting thing that that a lot of

these are hitting um that are that are

very human- centered. Um and I like

that. I like that.

>> Yeah, I'll see it. Um so your win is The

Devil Wears Prada.

>> No, the idea that these movies are going

to do like I just after Hail Mary, it's

that Prada has the same feeling of Hail

Mary. It it feels like real people made

it. It's like when you eat a meal that's

sort of fake, you and then you eat a

meal that's homemade.

>> It's It feels like real people made it

who thought about it, who care about

standards and quality. And

>> it didn't feel like AI made it. I don't

know what else to say.

>> The the rumors of creativity's death at

the hands of AI were greatly

exaggerated. So there was a moment about

24 months ago where everyone thought all

music is going to be generated by AI

that you'll just give it a good prompt

and it'll come up with new songs that

are better than Kanye's and that just h

didn't happen. the muscle between your

brain, the the creativity of a young

brain, the creativity that that still

has tremendous moes around it. And even

in design, like look at Sorro being shut

down. Like the the graphics you get

back, the design you get back, the

percentage of people in design working

at tech firms has actually gone up as a

percentage of their employment base.

Artists, you know, no AI, no AI is going

on tour right now. Yeah. But as far as I

know,

>> they're not going to tailor us with the

situation. They certainly are.

>> Where I think you're being a little bit

nostalgic because I think The Devil

Wears Prada and Hail Mary

>> are great movies and will do well at the

box office, but box office is still down

30% postco

>> content original content that breaks

through will find a way to monetize and

be successful. But this collective

nostalgia for the movie theater I pick

Ipic is going bankrupt where I where I

live.

>> I'm not talking about the movie theater.

talking about freshness in movies,

>> fresh creative,

>> fresh creative and and I'm saying it

does it actually these movies are

showing big pickup in movie theaters. I

don't overall downward trend,

>> right?

>> It's really interesting that people are

these movies are scoring well in

theaters. Like that's that's what I'm

saying.

>> Not all of them.

>> Well, it used to be it used to be that

all of that type of long form content

ran snake through a theater and we went

to the movies. I remember I mean I don't

know about you when I was a kid I used

to go to the movies two or three times a

week.

>> Yeah. Twice at least once a week.

>> Yeah. It was just what you did. It's

what you did on a date. Uh it's what I

did with my mom. This is what you did.

You went saw we Granted I lived in

Westwood and they had the best theaters

in the world. But um God I just tried to

think the last time I took my kids to a

movie. Anyways um I'm glad you liked it.

So my prediction is much more boring.

So I think so Intel is up uh fourfold

and I think it's up I'm sorry it's up

fivefold. It's up it's it's quintupled

over the last year and I think it's

about my prediction is it's going to uh

uh [ __ ] the bed because Amazon is now

>> bragging about it as you noted.

>> Yeah. And I I think it's I think it's a

great short right now. Amazon. Amazon

now sells both GPUs, what Nvidia does,

and CPUs, what Intel specializes in. And

Amazon's chip revenue is growing 150%

every 3 months. If it were a standalone

business, it would be generating 50

billion in annual recurring revenue.

That's more than AMD and about as much

as Intel. And OpenAI and Enthropic use

Amazon ship for their

>> So Amazon Interesting. That's

interesting.

>> Well, it's weird. I think I think it's I

think quite frankly I think uh in Nvidia

has its own has much stronger modes. The

vulnerable company here is the one

that's the latest meme stock and that's

Intel. Metaanthropic have signed deals

to use Google chips called TPUs. TPUs

are two times cheaper than Nvidia's

GPUs. And Intel looks just dramatically

overvalued and will and I think will be

the victim of this increased

competition. The stock again up

five-fold. Get this. Intel now has the

highest forward PE of any large cap,

trading at 118 times forward earnings.

>> Oh my god, it's such a loser company.

Get this.

>> Why?

>> AMD at 50, Amazon at 32, Nvidia at 26.

And at the same time, its business is

expected to grow slower than peers.

Anyways, the most overvalued stock.

>> What is the meme? Explain the meme for

the people.

>> Well, Intel was beaten down. Now it has

a great story. Now it has the backing of

a guy who's willing to use the full

faith and credit of the government. It's

the chip. Everyone thinks the the chips

are the bottleneck in the AI boom. It's

not actually. It's actually power and

the stock's up fivefold. And now again

see above it's trading at a forward

earnings of 118. It's growing slower

than everybody else.

>> And Amazon and Google are coming for

their launch.

>> Oh. So anyways, my prediction is

>> you're going to see

>> this thing is going to look like a giant

hill. It the the

>> That's a good one.

>> is over and Intel is going to be one of

the worst performing stocks in the tech

sector over the next 12 month. He's

going to come after you instead of Jazz.

That's really good.

>> There we go.

>> Yeah.

>> Well, Intel has the look of an expectant

widow.

>> Um anyway,

>> uh that's really funny. Amazon that

Amazon is doing it is interesting.

Although I have to say I've given them

the heinous of the week award by them

leaking that they're going to make uh

the apprentice again with Dawn Jr.

>> Oh god, did you see that?

>> I know they're such suckups. And Jeff

was at the King Charles thing. Let me

just say you don't have enough There's

not enough budget for a cocaine budget

for that show.

>> That [ __ ] about our win.

>> I know.

>> King Charles, how good was he?

>> We didn't do win, but go ahead. Go

quickly do a win. King Charles was

[ __ ] fantastic. I have to say a

charmer. No one can thread the needle

around a thoughtful, intelligent

stab in the heart

>> like the British.

>> Yeah.

>> And when the king delivers it,

>> you know, I just loved I I loved I loved

the king saying, "You have often stated

that without us we would speaking

German. I'd just like to remind you that

without us you'd be speaking French."

>> Yeah.

>> He is he is so good. He whoever wrote

his speech a he delivered it perfectly.

He actually studied drama in college.

>> Yeah.

>> I just think I was so happy because I do

think he he stated what we need to know

and that is the alliance between uh

Britain and the US I would like to think

is unshakable. Also the king has been

sick. It's a really nice moment for him.

He is always

>> he did a good job. He did his kingly

duties.

>> I like the

>> he did his kingly

>> I like the monarchy and I always got the

sense that he's a really decent man.

>> Yeah he is. And uh so I just loved

seeing kind of his time in the sun and

just how good he was.

>> He did good. And the thing is doesn't

insult him because he loves the

monarchy. So he insulted Trump and he's

the only one who got away with it. Like

the didn't get away with it.

>> It was so elegant.

>> It was Yeah. Trump understood. Honestly,

they just wanted to meet the king. All

these people anyway. And those tech

people sucking up to the [ __ ] king

was just like, "Oh my, you guys, you are

bigger than Britain and that's you could

get a meeting with him anytime, give

money to his climate change thing."

Anyway, I love that the Republicans even

cheered for climate change uh uh help

with climate change cuz that's his big

that's Prince King Charles. I keep

calling him Prince Charles because he

was Prince for so long. But anyway, we

want to hear from you. Send us your

questions about business tech or

whatever's on your mind. Go to

nymag.com/pivot

to submit a question for the show or

call 8551 pivot. Elsewhere in the Karen

Scott universe this week, this week on

ProfG Conversations, Scott spoke with

Ian Bremer about how the Iran war

fracturing alliances and rising global

tensions are reshaping the world order

with no clear winners. Let's listen to a

clip. Whether it's Epstein or whether

it's Iran or whether it's the economy or

whether it's extraordinary corruption,

Trump has gone against

all of the things that got him elected.

And and I I don't I I certainly think,

okay, there are some MAGA supporters

that act like it's a cult and they'll

support him literally no matter what he

does. But that's not even all MAGA

supporters. Not at all. This is not a

These people are not brainwashed

automatons. They're not idiots. They

they ultimately see when their leader is

screwing them and it matters to them.

And some of those people, they may not

vote for Dems, but they'll stay home.

>> Interesting. He's absolutely right.

That's what a Ted Hearnen said, too.

Anyway, that's the show. Thanks for

listening to Pivot and make sure uh to

like and subscribe to our YouTube

channel. We'll be back next week.