big big news. Mark Zuckerberg dropped a

blog post also. I mean the bigger news

is that they open sourced uh already one

model and they're planning to open

source Muse Spark 1.2. That's big. But

but the blog post lays out his AI vision

and we should go through it. Meta was

sort of set up to be and also ran in the

AI race. Like the llama project stalled

out. Yan Lun exited. Their biggest

model, Behemoth, never shipped, which

was ironic because in the Bible, a

behemoth is this untameable land

creature. And of course, it was just the

model was too big to be tamed to be

released. And it was like nominative

determinism in action. Happens a lot in

tech, unfortunately. But they also

turned over the entire team. And Zuck

said, "I'm not quitting. I'm not out of

the game. I'm staying. I'm all in."

Yeah. And I'm raising debt, equity,

doing all sorts of deals. uh making

things happen, making big offers to AI

researchers, rebuilding the team,

bringing in Alex Wang, Natt Freriedman,

Daniel Gross, bunch of heavy hitters and

uh they already build massive data

centers. They have a huge surface area

to distribute AI uh consumer

experiences. If they come up with new

ones, they have, you know, billions of

users, they can put some, you know, hey,

try this thing and maybe they'll get a

bunch of users from it if it's good.

Semi semi analysis also just one month

ago laid out like a much more detailed

bull case for MSL in particular. It was

interesting uh because I was always

optimistic about okay they have a lot of

data from Instagram they have a lot of

images they'll do a great image model

like the image editing will be the best

in class uh they they can finally like

kill Cap Cut with their edits app which

is great uh and when I think about

you're taking an image you're taking a

video you have a bunch of videos from a

trip you want to edit all that together

for some Instagram story or Instagram

reel reals editing is its own skill its

own talent it's not available to

everyone One, a lot of like family

friends of mine will use Instagram and

they'll just post a picture on stories.

They're not doing edited cinematic

reels, but with AI could potentially get

someone from, oh, you took a bunch of

video. Some of it's horizontal, some of

it's vertical, some of it's sort of

cropped wrong, some of the color

>> turn into some brain wrap for [laughter]

>> you can just throw it right here in this

trough.

>> Yes.

Adding those programmatically. Uh, no,

you actually could. You actually could.

Um, and so and so I I was optimistic

about that. Then obviously we talked to

Eric Seuford about uh just the gem model

and how AI can immediately move the

needle on ad monetization, targeting all

of that. So there were lots of reasons

to be optimistic. semi analysis laid out

this more detailed bold case and they

said that there was this interesting

detail that maybe was getting missed

which was that by uh recording the

screens of every Meta employee which is

very controversial and bold but actually

ripping that band-aid off and just

saying hey we're we're an AI training

company now and everyone's going to be

recording their screens and their flows

and all how all their work gets done.

They basically got like a frontier

leading AI data labeling company for

free. I mean they took a you know PR hit

for it. Had to answer some questions but

in general like the volume of tasks the

volume of quality data that's coming

from that workforce now is on the order

of a scale. Merore handshake etc surge

and so uh they just get that more or

less for free. Obviously Meta's lawyers

are great. Meta's researchers are great.

Meadow's finance team is great. So if

you're if you're getting all of that,

it's equivalent to hiring a really

talented person to do a training task.

>> Yes. Yes. And yes and no. I think I

think a lot of the data that that the

surges and merors are creating is much

more specialized. Yeah.

>> And I think there's just a lot of noise

coming out of that data. They also have

like rolled some or maybe most of the

program back. I think there was Yeah.

>> So much push back.

>> You can pause it for 15 seconds once a

day.

>> [laughter]

>> No, no, I think you can pause it for

like half an hour, an hour, uh, if you

want to go get a nice scroll in at work.

[laughter]

But I mean, that's on brand if you're

like, "Yeah, I was scrolling reals. I

work at Meta

>> testing. I was hunting for bugs."

>> Yeah, your honor.

>> For sure. For sure. But, uh, yeah, I I I

I I think there are some there are some

employees who are just fully excluded

because they work on proprietary things

that they don't want leaking into the

training data whatsoever. Uh, there's a

whole bunch of nuance there. There was

these funny like leaked uh messages from

Bos being like, "If you're saving time

with AI, don't take more vacation days.

Like, go ask your parents."

>> What was that?

>> What was that line? Like, ask your

parents if it's a good strategy every

time you talk to your boss to ask for

more time off.

>> It's a good point.

>> So, it was a really good point.

>> It's a really good point, but the timing

was funny cuz over the weekend, Zach had

a UFC fighter in Tahoe and they're just

like on this like, you know, onwater

octagon.

You can tell there's like, you know, all

all of Zuck's like security boats around

it [laughter] and they're just like

fighting like, you know, wrestling or

whatever.

>> Let's pull this up. Zuck busy fighting

with Morab in Lake Tahoe while his execs

tell employees not to take vacations

thanks to AI.

>> I think I've seen enough after this. I

think he's ready for the octagon.

>> He's looking good. What are those leg

braces that you got on? Is that

>> for like they're effectively gloves for

your knees?

>> Oh, okay. Okay. So you don't get your

shins bashed up or something. Yeah, you

don't.

>> Okay, that's cool. Anyway, uh so

following up on the op-ed ad that Mark

Zuckerberg dropped in the in the payw

wall the Wall Street Journal section,

which was a little bit ironic because

he's saying it's for everyone. Yeah, it

will be abundant and free except for

this article. Well, now you can go read

a more lengthy version of his thesis for

free uh not paywald on Meta's corporate

blog effectively. Uh, you know, I don't

even think you need to log into any

Facebook property to get access to this,

but uh, it's a 6,500word

encyclical, the Wall Street Journal

called it. Like, it's a paper uh, bull

uh, on the AI future. High level AI,

it's for everyone. Turns out it's for

everyone.

>> Whoa.

>> That's what he's saying. But it's good.

It's an anti-permanent underclass

message. Um, which comes which is good.

It's just good from a comm's perspective

to lay out a more optimistic uh,

philosophy here. Uh and it also seems to

be borne out by the data in the short

term. Uh you're not seeing any like

crazy displacements in the economy. Uh

and so this comes from like a place of

strength that's like backed up. And it's

also just a very optimistic uh correct

version of the piece. He takes a shot at

fear-based marketing. Uh early on in the

piece, he says, "Still, it's surprising

that the discourse from many developing

AI is so filled with doom. I do not

understand why anyone who believes that

AI will eliminate most jobs and much of

humanity's relevance would rush to build

that future. The notion that AI is so

dangerous that the only safe path is an

extreme concentration of power inherent

isn't seems inherently problematic.

Historically, hoping that an absolute

power will benev benevolently provide

for humanity if sufficiently enlightened

has not led us to safe or positive

outcomes. What do you think?

>> Do you want to read a little bit more

before I

>> Well, uh, so I mean, my take on that was

basically that, uh, so he's framing this

as, uh, I don't understand why anyone

who believes in AI would try and become

like the emperor and the dictator of AI.

I understand it. Uh, it's funny that

he's like sort of playing dumb here. Uh,

because, uh, extreme concentration of

power is awesome if you're the one that

has the power. Uh like I don't see you

have to imagine that most dictators

living in other countries aren't like oh

I would kill just to be like a normal

American citizen. No it's like yeah it

sucks for the citizenry.

>> Also this is coming from a guy who has

is

>> effectively a monopoly more like a

duopoly

>> and uh has enjoyed the benefits of you

know extreme concentration of at least

users.

>> Yeah.

>> And social media activity. Yeah.

>> Um I I came away from this um

>> first first there are there are three

very concrete proposals that I think are

good and then we can go into some on

what what's downstream of it. So uh he

there's some hand wavy parts about the

future and how things will align in the

future uh that are sort of just guesses

about how the future will play out in my

opinion. Um but there's some really

solid concrete proposals in here that I

thought were awesome. Uh, one, he calls

out that in Richland Parish, Louisiana,

where Meta is building a large data

center, teachers received a $50,000

bonus this year because of the increased

tax revenue from their investment there.

Uh, the superintendent told Meta that

teachers are now moving there from

across the country and he believes it

will become one of the nation's best

school districts. Uh there's been a lot

of skepticism about money actually

flowing from AI companies to citizens

because a lot of times money just goes

into the government and then it gets

like squirreled away into weird projects

that different you know developers can

like pull from and the money just sort

of disappears. This feels like a pretty

linear track from like data center built

dollars in in citizens pockets. That's

very very good. I I like how that played

out. He also said that uh Meta's data

centers are designed to be among the

most water efficient in the world. We

are committing to being water positive

which is a frame uh like a term that I

hadn't heard before but I think is a

good one. So what that means is they

will restore more water than they use in

the waterheds that they operate and the

goal is by 2030 to be net water

positive. And in areas with high water

stress the goal is to restore 2% of the

water that they use. And so I think

that's good. Obviously, there's been a

lot of uh you know, it's been a bit of a

quagmire on the water issue because

there was that calculation error that

people got way wrong. They thought the

data centers were using way more water

than they were. And so, a lot of tech

people just sort of wrote it off as

like, ah, I don't even need to address

it because it's misinformation. But, of

course, it's a resource. It's important

to address it appropriately. And I think

this messaging does a good job of laying

out like, okay, yes, like it might not

be that much of an issue, but if it's

not that much of an issue, then you can

deal with it pretty easily and we're

gonna deal with it. So here's our plan

on electricity. They were a little bit

less a little bit softer. The the

language is just will we help keep

electric electricity prices low by

building our own energy generating

infrastructure wherever we invest. This

ensures that not only are we consuming

energy that could uh we are not

consuming energy that could have gone to

the local communities but in some cases

we even we even supply a surplus of

lowcost energy back to the communities.

We think this is an important investment

principle for sustainability that in

some cases is doing a lot of heavy

lifting there. Uh ideally you would wind

up I think a lot of people would want to

see like uh oh yes in every case when

you build a data center you bring enough

power that the price of energy does not

increase in the local community but good

direction. He does call out nuclear

energy in a really interesting way. He

shares this stat, countries like China

are are bringing online one gigawatt of

nuclear capacity every other week, which

is insane. [laughter] And he says, uh,

so we'll need to accelerate building of

both energy and data centers to remain

competitive. [music]

I thought this was a good framing and

good reminder of how slow we are because

we bring on one gigawatt of nuclear

energy like every couple decades and

they're doing it like every two weeks.

Uh, good good to see that. And then also

Meta has been spending on nuclear power,

making commitments. All of them are

longdated. There's a lot of regulatory

hurdles, but uh he is putting his money

where his mouth is in that regard, which

I thought was good. And then of course

the news is also paired with uh some

real action from Meta. They're opening

the weights of Muse Glimmer, a 30

billion par parameter dense model that

can run locally along with a plan to

release the weights to Muse Spark 1.2.

uh makes sense from a business

perspective I think to ramp adoption. Uh

there was a lot that was going on like

the llama ecosystem and you could

imagine that you you you download the

weights to muse spark 1.2 too. Fine-tune

it. You're pretty happy. You're like,

"Ah, okay. Yeah, let me get on the on

the hype on the on the API plan as

well." Um, and also, you can imagine

that there's businesses that want to cut

costs, but don't want to use a foreign

model. That definitely exists for a

variety of reasons. So, this is a good

option there. Uh, and then it also just

disentangles the geopolitical discussion

from the safety discussion. So if you're

talking to someone who has a strong

opinion about open source one way or the

other, you can you can just divide the

discussion into okay, how do you feel

about Muspark 1.2? Is that too dangerous

to release? Is this a safety issue?

Because it shouldn't be a distillation

issue and it shouldn't be a uh like a

geopolitical issue so you can narrow it

down just to are you are you okay with

uh strong powerful you know AI being in

the hands of just random people. Yeah.

Anyway,

>> I think I think a lot of the stuff in

here is like great and directionally

correct. I think uh it was good that

they tried to ground it in some concrete

actions. Uh it seems like they've chosen

to position him as the the pickme

>> AI uh lab leader, right? Uh he's saying

uh if you're not familiar, pick me is an

internet slang term for someone who

tries too hard to get validation,

attention, or approval. And uh that is

certainly what he's doing. I think

there's an incredible irony that like he

I think on Friday of last week is having

to uh u go through this like basically a

billion dollar settlement for causing

harm at scale with uh all of their all

of their other products. And then

ultimately uh I still don't think that

he has or like MSL has any type of

cohesive vision or strategy, right? They

were doing open source.

>> We were excited with the Manis thing. We

were like, "Oh, this makes sense.

There's like deploy an agent within your

Instagram account. There's a lot that

you could do there, but that never

really came

>> fruition." No. So, so they were doing

open source, then they're getting

cooked, and then

>> they stop, and then now they're back.

And the first thing they released was

Meta Vibes, which is like kind of what

you would expect them to release, but

obviously got a horrible reaction.

>> Uh, wasn't world positive at all. Wasn't

personal super intelligence. It was slop

intelligence. very much too soon I think

for Mark to be like the good guy like

tech leader where I just don't think he

has like people's like his brand got so

much better over the last few years when

he was just doing the UFC thing sure

>> and wakeboarding and all that kind of

stuff but it's too early to be trying to

parlay that into like I can be trusted

with

>> uh do you think he needs to put points

on the board or do you think he needs to

move the needle before he can actually

uh take a victory lap here? I think I

think uh I think he's trying to move the

needle. He needs to be more focused on

getting some points on the board. Um

because open sourcing a model that isn't

a frontier model

>> is just like okay like like uh I don't

like knowing how commercial this team

is,

>> I don't think they would open source or

or open uh make the model open weights

if they felt like there was going to be

exceptional demand for it. Mhm.

>> I think overall like Mark standing up

and saying like, "Hey, I want to be the

leader of world positive AI probably

hurts AI's public perception even more."

>> Bernie Sanders now, right? He was

included in that.

>> Yeah. Yeah. Which is amaz which is

amazing for Meta MSL

>> to be included in that group.

>> Yeah.

>> Like you would think that like um

>> was not or Elon

>> Elon and Deep Mind were not included.

>> Elon was so that was just because there

there were the three cyber incidents.

Oh,

>> and so I mean people have been you know

alleging that maybe the meta

>> you know cyber incident was maybe you

know somewhat not as real as other ones

>> to be included but I think he has he has

no confidence from the market on the

strategy.

>> Uh he still has not actually explained

what their product vision is. They're

coming out with with a coding harness.

They're coming out with coding models.

They're also doing open source.

>> Yeah. There's the whispers of them, you

know, getting into the, you know,

becoming a neocloud. It's just like I

think as I I can I can see why

shareholders and employees just continue

to be deeply frustrated.

>> The coding harness thing would be, it

feels like it would be much more

believable from Microsoft like we own

GitHub. We were first in GitHub

co-pilot. Yeah, Nat Freiedman's not here

anymore, but we have a really strong

relationship with OpenAI for the models

and Azure in the enterprise. we are

going to make a run at this seriously.

And they have a better strategy. I I

like the strategy more, but uh but but

it's it's it's a really really crazy

pivot to go from social media to the

enterprise.

>> Ultimately, it's a lot of words from

someone who I don't believe has any real

vision or strategy. Like at least when

Daario comes out with an essay, this is

someone who is undeniably a visionary,

right? Has has made a bunch of calls

>> correctly. And so when he says

something, they I think it means some.

But I think that uh yeah, the product

strategy so far just feels like throwing

slop at a trough

>> maybe.

>> But uh defend it, John.

>> Um

>> steelman.

>> What is the steelman? I mean, the

steelman is the basically the steelman

is like this could go the deep mind

route where they get too uh they get a

little bit too there's too much tension

between the various corporate

organizations and the nightmare scenario

would be like the reals team at

Instagram saying like we need the

compute for reals and ad monetization

and that putting tension with the

researchers. So the researchers are

saying, "Hey, that new data center looks

amazing. We want to train some amazing

model or we want to do some cheap

inference." And the and the ad team and

the reals team says, "Hey, we really got

to keep the lights on over here." And so

that tension just keeps uh butdding

heads against each other and they can't

move as smoothly as some of the pure

play labs. At the same time, there is I

like this Bos quote about like you know

uh Bos recently told employees that any

extra time freed up by AI should not be

used for vacation. Instead, it could it

should go towards building cooler stuff

at Meta. Like you have so many users, so

much data, so many different product

surface areas. It's clear that we're not

at the end of history in terms of what

you can do on your phone, what you can

do in these apps. And there are really

delightful experiences that we run into

all the time. Like Sunno is a really

cool consumer product. We had the CEO of

whatnot on like that's getting a bunch

of traction. Um there are there are

things that you should be able to build

faster, leverage the current uh

technology stack more efficiently and

then also like add AI features to

actually bring those to consumers at

scale. like when they launched their uh

AI image model, I was I was like why

can't they just like when you open

Instagram say, "Hey, we've pre-generated

a Studio Giblly version of your latest

post or your or your Instagram profile,

do you want to share on your story?"

Like those little like productled growth

hacks that would be compute intensive.

You'd have to you'd have to inference

all that.

>> It's got a lot of compute.

>> Yeah, you got a lot of compute. that

actually

>> at the time at the time that there's

whispers of selling compute, they're

also buying ultra long-term contracts.

The social network was like formative on

all of us,

>> Zuck is is a legend in his own way,

>> but it's just like putting this out

while it's coming out like less than two

months ago that you're working on a

gambling integration

>> on Instagram.

>> Like please, there's no strategy. And

then the other irony of this, the thing

that stood out to me is he said, "Still,

it is surprising that the discourse from

many developing AI is so filled with

doom. I do not understand why anyone who

believes that AI will eliminate most of

human uh most jobs and much of

humanity's relevant would rush to build

that. The AI doom over the last two

weeks has been around these loss of

control incidents which are which are

serious

>> and and real. And so to stand up there

and be like actually guys, nothing to

worry about. I got this. AI is awesome.

The birth rate might be collapsing and I

might have something to do with it, but

don't worry about it. Yeah. Part of this

is like

>> we've we've met Zach multiple times.

We've had great conversations with him.

I like him.

>> I like Bos. I like Adam. I like a lot of

people over at MSL.

>> Yeah.

>> Um but this whole strategy continues to

confuse.

>> It's deeply unfocused. It's deeply

mimedic

>> and it doesn't seem like it's going to

get any better anytime soon.

>> The Wall Street Journal had a huge

scoop. This summer's hottest arm candy

is a private equity boyfriend. Reese

Witherspoon, Nicole Kidman, and Olivia

Rodrigo are all hanging out with finance

guys. Jordy chimed in on this. It was

remarkable. Every single person got

Jord's joke. I thought it was a little

like inside baseball and you'd have to

have more context to understand it, but

it was like this rare weird scenario

where everyone understood that you were

joking. And

>> yeah, I didn't get any push back. I

didn't get called any names.

>> It almost would have been better if

there was push back, but it was just

uniform praise for your quote across

everything. Now,

>> a lot of people were saying brave.

>> Finally, someone said it. Yeah. So, I

don't know that there was a It's like

you take a lot of celebrities that are

based in New York. Yeah.

>> At least a few of them are going to end

up dating some people in in finance. So,

should we start maybe with what Mr.

Wonderful

>> said? He said, "If you live in a

celebrity bubble, party after party with

the same people, the same 25 people,

life gets really boring."

>> Yeah.

>> When you end up with a private equity

guy, your life gets far more

interesting.

>> Um, so he I don't think was uh rage

baiting. No,

>> I think [laughter]

uh so maybe that's how some people would

have taken my quote out of out of

context. What did I say?

>> The piece centers around

>> I almost don't want to read that quote

out loud, but you should you should read

uh you should read my quote.

>> Your quote that burned up the internet.

Whether they want to admit it or not,

many women have always been attracted to

bad boys and risktakers, said Jordy

Hayes, co-host of the technology

industry talk show TVPN. I can't think

of any archetype of man that fits that

description more today than capital

allocators that put it all on the line

every day in the markets. And I like

that your screenshot included the the uh

the scroll wheel showing that you're

you're hunting around for this.

>> Uh and then so I posted this

>> and I said I weighed in on one of the

defining stories of our time.

>> [laughter]

>> And so,

>> yeah,

>> putting such a silly caption Yeah.

>> above a silly story and a silly quote, I

just assumed that it would um that it

would be quite obvious that it was that

it was satire. But let's pull up uh

let's pull up this uh 4 by uh 2 by 2.

And so, uh one top left, let's give it

up for the elite quadrant. This is all

of you. [applause] I mean, uh zoom out.

Zoom out a little bit. A little bit

more. This is people that understand the

joke. zoom up uh or go go up and people

that love it. These you guys were saying

we get it and we get you and that made

me feel really great. Now go down. This

was also a um powerful part of the of

the people that were supporting it.

People that don't understand the joke.

>> Well, there's some people that support

it. Yeah. There's some And there was a

lot there was a shocking amount of

people um

>> like this is

>> Can you guys just zoom fully out and and

and believe it? Yeah. So there this was

people that love it and people that

don't understand the joke. And I just

want to say bless bless their hearts.

They don't get it, but they vibe with

it.

>> Uh and then and then we had some

respectable haters, people that that

hated it. They get the joke, but they

just hate that they do. And then and

then there was the bottom right um which

uh was uh was tearing it up in the

replies. Loud, wrong, and very

confident. We should take people through

this article a little bit more because

uh the piece centers on uh Oliver Harmon

of Search Like Capital. Of course,

everyone knows him. Uh but he is

apparently dating Reese Witherspoon. And

so uh just to get everyone to up to

speed, Witherspoon uh is an Oscarinning

American actress who became famous in

the 1990s and 2000s, including films uh

like Election, Pleasantville, Legally

Blonde, Walk the Line. Uh so now you

should be up to speed on her. Uh Michael

Rinstein of course of uh Private Equity

from Regent is dating someone named

Nicole Kidman which uh our audience

might not be familiar with. She's

actually an Australianborn actress whose

career stretches across prestige cinema

blockbuster films. Seems like she's been

really successful. So good to see her

profiled alongside Michael Reinstein of

uh Private Equity from Region.

>> I think a lot of a lot of the people

that that watch TVPN Yeah. were reading

that article to to learn about

>> these celebrities. celebrities. Yeah,

it's a fascinating world that's it's

just tucked behind, you know, so much

obscurity. You don't hear about them if

you're in the finance world. And so, uh,

good to see uh, folks like that get, you

know, some some some coverage and and

really educate the audience. Uh, Joe,

[laughter]

Joe Weisenthal had the best the best

take that uh, this is the classic uh, is

cynical pattern. I think he said I think

he's meaning cyclical pattern. Back in

the mid as there was a raft of stories

about celebrities dating real estate

executives and shipping heirs like

Stavros

Narcos and Paris Latis.

>> We got to find what all these guys have

in common, John. We got to find what

what they have in common because they're

working across so many different

industries booming, right? But what is

the common ground?

>> The industry is booming.

>> Could it be something to do with their

fee streams?

>> Well, yeah. Well, no. So someone had a

much more uh nuanced take from this

which was that uh celebrities are

becoming like multiplatform

multiddisciplinary there actually are

multiple income streams and so this was

not I I gave a quote too that they

didn't use but someone someone chimed in

and said like yes a lot of these people

are a lot of these celebrities are doing

u much more complex deals uh starting

brands starting companies building

holding companies and so they actually

wind up interacting with like the

finance bros much more much more often

and it's not so much like oh you got set

up with someone with money. It's much

more like, oh, you work on deals

together and you talk about the same

things because when you're a celebrity

at a certain level, yeah, you're going

on set and filming a movie for a couple

weeks,

>> but you're also talking about your all

your your catalog of your royalty

stream. Royalties are royalties are

often Yeah, they're often forever,

right? Um unlike uh unlike management

fees with at some point or another

>> that that uh revenue line comes to a

close

>> pulling the purse strings. Anyway, uh we

have another story here that we should

go through. South Korea's AI boom is

reshaping the dating market as engineers

from Samsung and SKH Heinix become some

of the country's most eligible

bachelors. According to the Wall Street

Journal, engineers at the two

semiconductor companies are increasingly

being viewed alongside doctors, lawyers,

and accountants as top marriage

prospects. Samsung employees are

expected to receive average bonuses of

roughly $400,000 this year, while SKH

workers could average closer to

$500,000. Chip engineers have

historically ranked below more

traditional high status professions in

South Korea's highly competitive

marriage market. But local matchmaking

agencies now say that gap has largely

disappeared while the trend has become a

recurring joke in Kore Korean pop

culture and dating shows. Interesting.

Uh the newfound status is creating some

awkward side effects. Some engineers say

they are reluctant guys.

>> It's it's rough. It's rough out there in

Korea. Uh some engineers say they are

reluctant to reveal where they work on

first dates because they worry potential

partners may be more interested in their

compensation than in them. Others have

increasingly started dating fellow chip

industry employees instead. Meeting

someone in the fab. A real meat cute.

You you're carrying a tray of wafers

bump into someone and it's love at first

sight. You look up as as you're as

you're car as your scattered HBM is

being

>> It is very funny. They included they

just included a picture of of a young

woman here that says Kim Young a

photographer in soul laments not having

any contacts at chipmakers. [laughter]

She's like,

>> "Wow, really, really

>> framing her as part of the problem."

>> Well, well, the photo credit is her, so

she must have posted this on social

media or something and then the uh the

journal got a hold of it. [laughter]

It's a fun one. Uh anyway, the other the

other big story is that an AI assistant

in Australia hacked a gym's booking

system on its own after being given the

simple task of reserving a class in what

is believed to be the country's first

known autonomous cyber attack by an AI

agent.

>> Naughty naughty indeed. Uh, funny. In

college, I built a system that would

register for classes automatically, but

it was just a Python for loop that would

just refresh the page when the classes

would become available because they

would go online at like 7 a.m. and I

wanted to sleep in just lazy bones mode.

Um, and I think I think there's a story

about Mark Zuckerberg doing a similar

thing, sort of like hacking this the the

the admission system or some sort of

class registration system. But now with

AI agents, you can just have the AI

agent do it yourself. Anyone can. It's

been democratized. Everyone can sleep

in.

>> SpaceX is up uh 13%

>> uh in the past 5 days

>> almost certainly in part due to semi

analysis.

>> Major major bullish updates.

>> Crazy bull case.

>> Um yeah, not uh they've been contrarian

lately, right?

>> Yeah, totally.

>> With Meta now SpaceX. So the headline

here, SpaceX turns a compute company

into eight quarter in eight quarters uh

into a

>> turns into a computers.

AI compute goes from nothing to 77% of

run rate revenue and uh the the

illustrative 10 gigawatt path. I mean

he's really good at building data

centers and uh they're they're

predicting that uh Microsoft will be the

largest offtaker. uh open ananthropic

will wind up doing deals with them. Uh

500 billion in ARR for SpaceX and the

number that was getting thrown around

was a trill a trillion in ARR or

something by 2030 something. Uh which is

uh staggering staggering. They're going

to have to rebrand it. Rebrand it

though. Landex

because they're not going to space with

this. This is all built just on the

ground. I I'm pretty sure I'm pretty

sure this is all pre-space data center.

Space data center is like is the act

five or whatever we whatever act we're

on the act two. So landax or ground X

but uh either way it's working and uh

very very exciting to see.

>> Well folks we hope you have some crazy

good times this afternoon.

>> Thanks for tuning in. Leave us five

stars in Apple Podcast and Spotify. Sign

up for our newsletter at tvpn.com and

we'll see you back here at 11 a.m.

Pacific tomorrow. Goodbye.