Google I/O: Day 1 Reactions, Goldman to Lead SpaceX IPO | Diet TBPN

Diet TBPN delivers the best of today’s TBPN episode in 30 minutes. TBPN is a live tech talk show hosted by John Coogan and Jordi Hays, streaming weekdays 11–2 PT on X and YouTube, with each episode posted to podcast platforms right after. Described by The New York Times as “Silicon Valley’s newest obsession,” the show has recently featured Mark Zuckerberg, Sam Altman, Mark Cuban, and Satya Nadella. Follow TBPN: https://TBPN.com https://x.com/tbpn https://open.spotify.com/show/2L6WMqY3GUPCGBD0dX6p00?si=674252d53acf4231 https://podcasts.apple.com/us/podcast/technology-brothers/id1772360235 https://www.youtube.com/@TBPNLive

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:02John Coogan?

  We're both in suits today. I like it. It looks good. Some, uh, we were in unheard.

• 0:06Jordi Hays?

  People have been saying-

• 0:08John Coogan?

  They can't tell us apart. Is that what you're saying?

• 0:10Jordi Hays?

  That.

• 0:10John Coogan?

  Okay, anyway.

• 0:11Jordi Hays?

  But people have been saying I need something like a swear jar.

• 0:14John Coogan?

  Okay.

• 0:14Jordi Hays?

  When I don't wear a suit.

• 0:15John Coogan?

  Oh, okay. I'd like that.

• 0:18Jordi Hays?

  So, so yeah, something to consider. It should probably be a pretty big jar.

• 0:22John Coogan?

  20 bucks to the OpenAI nonprofit. That's what you gotta do. No, we were in unheard. Uh, we, I mean, we can pull up the full, uh, the full post later in the show, but, uh, it's funny. I mean, it's a good, good analysis of like, uh, you know, what we've taken from ESPN, what works about live streaming. This is from, uh, Alice Key. My latest for unheard is on why tech shows like TVP are rerunning the sports media playbook invented by ESPN and why it's working. They're hard to tell apart in their matching suits and floppy haircuts. I don't know if that's good or bad, but, uh, we don't always have matching suits. Usually Jordy's the casual one. But yesterday we were both casual. Today, we're both in suits.

• 1:01Jordi Hays?

  We do, we do still get the brother thing a lot.

• 1:04John Coogan?

  But, yeah, I think it's a term of endearment. I think it's positive. Anyway, we have to react to Google I/O. Of course, there's a whole bunch of announcements, uh, some really exciting stuff, some stuff that people are having mixed reactions to. We'll take you through it all. But first, we need to watch this video of this humanoid robot. Ramp? Why is ram?

• 1:23Jordi Hays?

  No, I'm kidding.

• 1:23John Coogan?

  No, I'm crying. Watch this video.

• 1:26Jordi Hays?

  Let's get some-

• 1:27John Coogan?

  You gotta go to the beginning. You're spoiling it. You gotta go to the beginning.

• 1:32John Coogan?

  Doing pretty well, moving pretty quickly, little bit of a, oh, catches itself. Catches itself. Not bad, not bad. Okay. Seems like a full recovery. Seems like you're ready to go.

• 1:43John Coogan?

  I'm liking it. And then?

• 1:50John Coogan?

  Not good. And then I wonder what it's thinking because you would think that there would be some programming-

• 1:55Jordi Hays?

  Oh, they gotta cut the music. They gotta cut the music. Don't let the music keep playing while your, your boy's down.

• 2:01John Coogan?

  Just gets carried off like this. It's so crazy. You just carry it off like this. Anyway, singularity delayed.

• 2:08Jordi Hays?

  Yeah, it's possible that the robot died from embarrassment.

• 2:13John Coogan?

  Yeah, or maybe it was damaged. It's possible that like as it as it hit the ground, it was just actually taken out. Anyway, Google I/O. Bunch of different announcements. Brandon Gurrell on our team posted on the TBN newsletter, some reactions, sort of bucketed it into four key areas. Intelligent eyewear. This is an interesting one. I want to go into this. Gemini Omni, we talked about the videos. We played a little bit of that yesterday. Upgrades to Gemini LLMs. Those have been mixed reactions from developers. We'll go through that. And then anti-gravity, which is an interesting place with an interesting history. So let's start with intelligent eyewear. If you had to pick, Warby Parker, Gentle Monster. Have you heard of Gentle Monster before? I've heard of Warby Parker. I know the story. I'm a fan of the business story.

• 2:57Jordi Hays?

  That's super familiar.

• 2:57John Coogan?

  I haven't worn glasses in a very long time, so I'm not really in the market. But the Warby Parkers, I've always I've always enjoyed the way they thought about the brand. And I've also been impressed by the way they built that business. They were early to the D to C boom. And then didn't some of the founders move over to Harry's? Is that the same team? Or is that a different?

• 3:13Jordi Hays?

  Maybe. They were certainly, when I when I think of D to C, I think of Warby.

• 3:18John Coogan?

  Yeah.

• 3:18Jordi Hays?

  I think of Allbirds. I think of Everlane.

• 3:21John Coogan?

  Yes. But when you think of the last two out of those three, the market caps are sub 100 million. Allbirds was trading at what 20 million or something and then spiked because of the AI thing. But Allbirds, Everlane, not really sustainable businesses. Warby Parker, on the other hand, current market.

• 3:40Jordi Hays?

  Allbirds has.

• 3:41John Coogan?

  Coogan', sitting at three and a half billion.

• 3:43Jordi Hays?

  Allbirds has pretty much been down only.

• 3:46John Coogan?

  Down only. Since the pump, the AI pump.

• 3:48Jordi Hays?

  On their NeoCloud. No surprises there.

• 3:52John Coogan?

  Well, have they given us an update on how they are rolling out Kubernetes, how it's going, building their NeoCloud? Did they get allocation? Are they racking Cerebras? Are they racking GB200s? What are they racking? And how fast are they getting power?

• 4:05Jordi Hays?

  Would be it would be funny if Jensen ends up having to talk about Allbirds on their earnings call today.

• 4:11John Coogan?

  Didn't they?

• 4:11Jordi Hays?

  There's a new.

• 4:12John Coogan?

  Yeah. Didn't they also like fully rebrand the name? It was going to be like Bird AI or All AI? Like they were moving away from Allbirds.

• 4:18Jordi Hays?

  Still exists, but they basically kept the public entity. And that's what they're building. The NeoCloud there.

• 4:26John Coogan?

  Fun.

• 4:27Jordi Hays?

  Lots of fun.

• 4:28John Coogan?

  Warby Parker, resilient. I mean, in 2021, it was a $6 billion company. Now it's a $3 billion company. Not the best scenario, but surprisingly resilient, I think, in a time when a lot of people wrote off a lot of the standalone direct-to-consumer, it was like either get rolled into a bigger company or go or like face the fate of the public markets. But Warby Parker has a deal with Google and Samsung. Google says, "We're partnering with Samsung Gentle Monster and Warby Parker on new intelligent eyewear." Here's a sneak peek at two designs from this fall's upcoming collections. And people are, I like future economics from Sam, kind of crazy that you can wear your

• 5:12John Coogan?

  favorite Mag7 on your face now. You can. The Gentle Monster one does a really good job of hiding the camera. I imagine that it will have a light to tell you if it's recording, but if someone wore these from a distance. Also, Meta Ray-Bans have done sort of the hard work of becoming the first face computer. So when you see Ray-Bans, and they're a little thick, you start immediately thinking, oh, should I be looking for a camera lens? Am I being recorded? But the Gentle Monster design, the silhouette, doesn't scream technology. It doesn't scream wearable face camera. And so these are going to be a little bit more stealthy. Warby Parker's look nice, but the camera pump on the Warby Parker one?

• 5:54Jordi Hays?

  You know, it makes a lot of sense that Googles and the Metas have to go and partner on different silhouettes. My expectation, my uninformed expectation is that Apple will just make Apple glasses, right? They will probably, it's hard to see them taking the route, at least early on, of partnering and allowing another company to influence the design language. But it makes a lot of sense that Meta would partner. With Luxottica.

• 6:24John Coogan?

  Okay, first, look at the camera bump on this. If you zoom in as far as you can, I don't know if we can zoom in any further, but the camera is actually not flush with the frames. It's actually protruding a little bit. Yeah, you can see it right there. Interesting design choice. I wonder how that will catch the light, how that will reflect in the real world. But this was all from a joke from Abdu. Says, okay, so Apple has Carl Zeiss, Meta has Ray-Bans and Oakley. Google has Gentle Monster and Warby Parker. Boring. Which company is going to be bold enough to slap wearable technology into some 3M safety glasses? Would you rock these, Jordy?

• 6:59Jordi Hays?

  I like those.

• 7:00John Coogan?

  3M safety glasses. You know what I'm talking about, right? You're working with a buzzsaw.

• 7:03Jordi Hays?

  I do know.

• 7:04John Coogan?

  Dust in your eyes.

• 7:04Jordi Hays?

  But these look cool. These are sporty. I'm much more likely to just commit to the bit.

• 7:09John Coogan?

  Just go full clank or full cyberpunk.

• 7:12Jordi Hays?

  Full clank.

• 7:12John Coogan?

  Full, yeah, full, you clank out. Full cyberpunk. I think that's, I think that might be the move. I don't know. For some company, a challenger company could potentially do that. Maybe Friend or something. Anyway, what else? So Warby Parker traded down on the news, which Shiel Monat was surprised by. Why is Warby Parker down 14%? They announced a partnership at Google I/O that's been in the works for a while. Is it because they aren't available yet? And our friend Rat King, Mike Isaac says, okay, Google AI glasses with Warby Parker are officially coming for Meta Ray-Bans. Google also said it would bring Gemini to glasses this fall with Samsung Electronics and the eyewear companies, Warby Parker and Gentle Monster. The glasses, which work similarly to Meta Ray-Ban smart glasses, come with a camera, microphone.

• 7:53Jordi Hays?

  Yeah, at what point, at what point does Google just buy Warby Parker, right? It's a $3 billion company. It's actually done quite well.

• 8:00John Coogan?

  Yeah.

• 8:01Jordi Hays?

  Over the last, over the last six months, it's up 43% in the last six months, although it's been almost flat this year. I would say I expect that smart glasses are going to have product market fit among people that need to wear glasses first, right? If you already have to wear glasses all day long for your vision, why not throw some smart features in there? It's going to be harder to get someone that doesn't need glasses to add a new device to their rotation, right?

• 8:31John Coogan?

  Yeah.

• 8:32Jordi Hays?

  And so, you know, Warby Parker's done quite well and has been surprisingly resilient, but they have incredible distribution.

• 8:41Jordi Hays?

  And I wouldn't be surprised if they get sniped.

• 8:44John Coogan?

  Yeah, I mean, deeper integration into a traditional, I don't know, like workflow, like a lot of the Google I O. We'll get into this, but was talking about Spark, the personal AI assistant. And when I think about.

• 8:57Jordi Hays?

  It's in Spark. It's an.

• 8:59John Coogan?

  I know, I know, I know.

• 9:01Jordi Hays?

  Oh, just look in Omni.

• 9:03John Coogan?

  Yeah, there's a lot of names. It's Google. There's a lot of products. You're referring to, of course, Nathan Clark's post. It's it's in Gemini, just created an AI studio. Oh, it's for your personal Google account for workspace. You need Gemini Business. No, not Gemini Advance. That's AI Pro now, unless you need AI Ultra. Oh, agents, you do that in Spark, actually. No, not Gemini API Management. And it's the typical meme. The the interesting thing is that I do think Meta Ray Bans, like it was always like, OK, you have a deep integration with WhatsApp. You have a deep integration with Instagram, DMs, maybe Facebook Messenger. Some people are still using that. But in terms of like wiring into your life, there are way more people that see Google Docs, Gmail as like the central node

• 9:47John Coogan?

  in their personal life, like people like people think of like my, the all the stuff I have saved on my, the desktop of my MacBook is like my core repository. A lot of people think, OK, for the important stuff, I'll put it in Google Docs or Google Drive. And then most things flow through Gmail. Most things flow through iMessage. There are some people that just are like, yeah, WhatsApp is the number one screen time for me. That's where I really organize things. But Meta doesn't really have this like knock on effect of like, oh, yes, you've you're. It's not necessarily an enterprise level productivity suite, but there are people who are like, yeah, I'm using Apple Mail, iMessage.

• 10:28John Coogan?

  I save my files in Apple Files, Apple, you know, the the cloud storage I use, my my camera roll is super important. So an AI agent running through the Apple ecosystem can be valuable. And an AI agent running through the Google's ecosystem can be valuable. The Meta smart glasses, it's a little bit trickier to go and do anything that because you're just like sort of bumping up against the walled gardens, right? But investor Nick doesn't like them for aesthetic reasons. He says, these Google X Warby Parker glasses are horrific looking compared to these Meta Ray Bans. Someone is probably going to lose their job over this. I don't know that they look that much worse. I don't know. Ray-Bans are a very iconic silhouette,

• 11:09John Coogan?

  and they do look good. So we'll see. We'll see how the response goes. I think from a product perspective, there's obviously fertile ground on the flip side. The Wayfarer is just such an iconic. It's more iconic than anything Warby Parker has produced, and that's just sort of the reality of brand building over a decade versus a century or something like that, however long Ray-Ban's been around. Long time. Anyway, Genie 3, "You can now simulate real places by grounding Genie 3 experiences with street view imagery. Google is sitting on a motherload of real-world data." I was always thinking YouTube was going to be so valuable for Omni and VO3, VO4, maybe, in the future. I hadn't considered

• 11:53John Coogan?

  street view as a trove of data. Demis seems very data-pilled. He seems... A lot of the Mag7 CEOs seem very data-pilled. There's that story about Mark Zuckerberg, screen-recording or logging all the computer use from all the Meta employees. These important troves of data are increasing in value, and street view certainly seems like it's one of them. This is cool. I wonder how interactive this will be, how this actually instantiates into a game. It's a great demo. What does it take to...

• 12:23Jordi Hays?

  Yeah, do they allow people to build games on top of this?

• 12:26John Coogan?

  Yeah. I just think about, I don't know. I mean, Demis has a background in games, and he was sort of alluding to the fact that he might go back into games at some point or at least be able to, like, scratch that itch again. Famously, he wrote a programmatic code to generate vomit in a roller coaster simulator. Very fun story. But again, when I think about Roller Coaster Tycoon, which was not, I think, I don't think he was actually working on that game. It was a similar theme park simulator, but we are moving back into the simulator world. But the mechanic is what is so enticing to gamers often. When I think about the games that I've spent a long time with, some of them have incredible graphics, AAA graphics. Some of them have 2D graphics, but the mechanic is great. And

• 13:10John Coogan?

  so that is what gets me to keep going back.

• 13:12Jordi Hays?

  The legend Bobby Chipman in the XChat says, "Can't wait for smart glasses to fully replace..." My monitors.

• 13:18John Coogan?

  Yeah, maybe you'll need augmented reality or something. Meta Ray-Ban display, certainly going that direction. The Orion. I've been surprised. Wasn't the first episode we ever did, we were talking about Orion, and they still haven't shipped it, right? I mean, they shipped the smaller version, the Meta Ray-Ban displays, which have sort of the Call of Duty HUD. It's not full augmented reality. I was expecting, I was expecting, we've demoed the Orion headset, and it has a bit of a narrow field of view, but it really can put a screen right in front of you. And I assumed that, you know, everyone was saying it's really expensive, it's clunky, it's not ready for primetime. But, you know, look at how fast things are going. In a year, maybe two, we'll get it. And maybe that's coming at the next Meta Connect, maybe this summer, we'll see it. But haven't been that many rumbles on it. And then obviously, the

• 14:03John Coogan?

  massive pitch shift to AI CapEx might have taken a backseat. I don't know. I'm certainly hopeful. I like AR and VR. I think, I think we're overdue for a new fun product. I'm still waiting for the next Apple Vision Pro, Apple Vision Air, something just lighter. That's all I want, cheaper maybe, but lighter and same screen. Screen was great. Anyway.

• 14:25Jordi Hays?

  We know, John.

• 14:26John Coogan?

  Gemini Flash 3.5, looks pretty neat, according to Tenebrous, and extremely fast, but still largely the sort of incremental progress we've come to expect from Google, generally a pretty disappointing I/O. Now, what's interesting is that Gemini 3 felt like a new base pre-trained, felt like it had some of that big model smell, felt like it was, you know, really delightful to talk to. And I think a lot of people were expecting Gemini 4 here. We're still waiting for the next iteration here. And also-

• 14:55Jordi Hays?

  Yeah, we're still waiting for Pro.

• 14:57John Coogan?

  Yeah, Pro isn't out. But people are speculating that 3.5 Pro won't necessarily be a new pre-trained. And so it seems like it's a, there's a little bit of research being at odds with like the product cadence. Like, Google I/O is scheduled probably like two years in advance. And whether or not the training run finishes on time is a little bit harder to package up and nail on a specific time. We see this with the independent labs, or the OpenAI, Anthropic, the other labs, XAI, like- They're launching models very much like when they're done and then they will like instantiate like something that looks like a conference around it or maybe a video or a blog post, a model card.

• 15:38John Coogan?

  But if you're, if you're grinding towards a specific date and the specific model isn't quite ready, you come out with something that's looks a little bit more incremental. People were really, really honing in on the fact that the, the cutoff date was January of 2025, right? Was that, was that the date that, or was it December of 2025? Either way, yeah, I don't know. I don't know how much cutoff time, cutoff dates matter because, you know, all these models, you know, can query the web and, and get.

• 16:05Jordi Hays?

  Yeah, seeing, yeah, overall reactions from developers across the board were not good, not good.

• 16:13John Coogan?

  Yeah, Prakash here has it underwhelming.

• 16:16Jordi Hays?

  Cursor ranked it on Cursor Bench. It is below Composer 2.

• 16:22John Coogan?

  Is that, is that a fair thing? I mean, I'd like to see you rank another, another live stream on TBN Bench. It doesn't match up, you know? It's like.

• 16:33Jordi Hays?

  No, I mean, they have, they have.

• 16:35John Coogan?

  I guess it is a bench.

• 16:36Jordi Hays?

  All the other, they have all the other frontier.

• 16:38John Coogan?

  And some of them are ahead of Cursor's own models on Cursor Bench.

• 16:41Jordi Hays?

  It's just one data point.

• 16:42John Coogan?

  But yeah, yeah, yeah.

• 16:43Jordi Hays?

  But here's, here's the other thing. It's four times, it, it costs four, it underperforms Composer 2, even though it's roughly four times more expensive.

• 16:51John Coogan?

  Interesting, interesting. Yeah, I, I feel like for a long time, Google's positioning was, you know, frontier or near frontier, but best possible pricing. And this marks sort of a shift in the strategy perhaps.

• 17:03Jordi Hays?

  Yeah, overall, starting to make more and more and more sense. Why Google has put so much capital and resources behind Anthropic.

• 17:12John Coogan?

  Yeah, Prakash says, uh, seems to indicate that DeepMind is constrained by data rather than compute for what they intend to do. Hence the TPU sales, uh, rest of Google now shipping their org chart. Ben Thompson talked about that a little bit. And there was some context on like, you know, we were asking the question like, will there be AI fatigue from stuffing AI in every product surface area? Ali K. Miller shares one of the loudest applauses in the entire Google keynote. Nishtha, Nishtha put on the gentle monster plus Gemini glasses, tapped the side to summon Gemini.

• 17:47John Coogan?

  An all-in-one prompt said, "Take a photo and put a cartoon blimp in the sky that says 'Google I/O 2026' and within seconds, the preview of the edited photo from Banana Banana appeared on her watch. I want to spend less time on screens. AI is really coming everywhere and so much is driven by voice AI as the interaction mode." Very cool demo, impressive technology, but Greg's gadget says these companies truly have no idea what regular people want because, yeah, that is a little bit of a niche use case. You need to be more creative with it for when you would actually use that because this is a very... It's a perfect demo of the product and the functionality, but it lacks that like creative spark of like, "Yes, I did want a picture of that on my wrist at that key moment in time."

• 18:30John Coogan?

  If you're not doing a demo, his point is that regular people would not be excited about that particular feature. SpaceX IPO, we're getting more details by the day.

• 18:39Jordi Hays?

  The other thing that is, was going pretty viral, last thing on I/O, was that Google anti-gravity team flashed a Codex folder in their, in their actual demo video. Gergely says, "I had to do a double take in the second minute of the launch video for anti-gravity. You can see people use Codex on the anti-gravity team. Did no one double-check the launch video, the very least." Not a huge surprise. Obviously, anti-gravity looks, a lot of people were saying, looks quite, quite like Codex, so clearly they're inspired.

• 19:13John Coogan?

  More than Windsurf? I feel like it would be, like, they would have just rebuilt Windsurf. I don't know. We'll have to see.

• 19:18Jordi Hays?

  No, so, but anyways, this isn't a huge surprise, right? Google's been using a bunch of anthropic models. Clearly, they're using a ton of different models and products internally.

• 19:29John Coogan?

  There was that drama with Steve Yegi going back and forth with Demis about like, what teams are using what models and stuff. There was a big back and forth, a big dust-up on the timeline, like a month ago, about like whether or not Google's employees were deploying AI efficiently or broadly. Some of them aren't and some of them are, and Demis chimed in and said like, "This is just complete wrong and everyone's using AI." I don't know. Goes back and forth. There's also... People are benchmarking Omni Flash, which looked amazing when we saw the videos. There was a, there were a few like little quirks. Some people in the chat were saying that the firing order of the V8 was not correct. Maybe it was only a V6.

• 20:08Jordi Hays?

  Yeah, it was missing two cylinders.

• 20:09John Coogan?

  It was missing two cylinders, but it looked good to me. I don't know, but now people are actually comping it to Seadance 2.0, which obviously has much looser content restrictions. Because I guess just like Hollywood can't file a lawsuit in China. I'm not exactly sure how that works because Seadance seems to be available in America. It seems like maybe.

• 20:30Jordi Hays?

  Oh, I think, I think Chinese businesses have been relatively immune to US copyright law for a very, very, very long time.

• 20:38John Coogan?

  And it also might just take like years to file a lawsuit, do discovery, actually go through and litigate.

• 20:44Jordi Hays?

  Oh, yeah, you can just go like there's malls in China where you can go to a Nike store.

• 20:50John Coogan?

  Yeah.

• 20:50Jordi Hays?

  And Nike has nothing to do with it.

• 20:52John Coogan?

  Yeah.

• 20:52Jordi Hays?

  And yet all the products.

• 20:53John Coogan?

  They've been selling Swatch APs over there for decades.

• 20:56Jordi Hays?

  Yeah, yeah, just ask, just ask Rolex and Patac how they're.

• 21:01John Coogan?

  Sure, sure. Yeah, I've heard fake cars too. Like you can get a full replica of like a G-Wagon that's just made in a factory. And then you could buy it, bring it over here and you take it to a Mercedes dealership. And they're just like, this is not a Mercedes. But it looks like one, like, like, you know, to the millimeter from the outside. But internally, it's just, it's just frauding. Anyway, Seadance 2.0 looks great. Omni Flash looks great as well. These are both like super useful. We'll see how they actually play out and how they get implemented, how they get used. The interesting thing will be like, like at what point, like it still takes a long time to generate videos. Very hard to get them right. The last 90, like we're at 99% fidelity, but when you click in, you start noticing little details.

• 21:45John Coogan?

  When will we be in a, in a paradigm where you ask a question and you actually get an explainer video? Six minutes, 10 minutes, like you would on YouTube. Very computationally expensive, very difficult to maintain the logic. Like what is the deep research report of Omni Flash? These eight second, 10 second, 20 second videos are impressive. But not perfectly substitutable for a 20-minute YouTube video because of the time and the level of detail that you can go into. Some people that are looking for information about a V8 engine, they want a breakdown that lasts 20 minutes. And so that's the next benchmark. We got to move the goalposts. SpaceX IPO, the prospectus is incoming, according to Zero Hedge, as soon as May 20th. That's today. We will see Goldman

• 22:30John Coogan?

  lead left. This was a surprise. Michael Grimes has worked with Elon for a long time at Morgan Stanley. There was some back and forth. He went back to Morgan Stanley. There was a question about whether or not there would even be a lead left because it's such a big IPO. Maybe they all share equally. Obviously, they're all going to make a ton of money off of this. So, good news from start to finish, but it is interesting that Goldman was selected. Do you have a soundboard cue you want to play?

• 22:53Jordi Hays?

  I'm always ready, John.

• 22:55John Coogan?

  Katie Roof has a scoop.

• 22:56Speaker 02

  The scoop athlete of the century, Katie Roof.

• 23:01John Coogan?

  Has a scoop on the biggest venture returns ever. Founders Fund and Valor are set to make more than $60 billion in gains on the SpaceX IPO. Sequoia have more than $20 billion.

• 23:13Jordi Hays?

  Yeah, was this somewhat of a reaction to D1 getting a lot of credit earlier in the week, right? They're set to generate roughly $20 billion in returns. And maybe some of these other funds thought to put their hand up and say...

• 23:31John Coogan?

  I don't think... I think that at this scale, like, there are so many LPs in these funds that are getting updates and they've been, they've known the numbers for a long time. They've known the ownership, the holdings, and you do some back of the envelope and you get to some pretty huge numbers. Will be very interesting. Huge for Sean McGuire, huge for Luke Nosick and a lot of other folks over at Founders Fund and Antonio Graciello and Valor and all the other Founders Fund folks.

• 23:57Jordi Hays?

  Yeah, well, Sequoia, Founders Fund.

• 23:59John Coogan?

  They needed a win. They needed a win. I mean, you go back, like, you know, these investments were made like 2004, 2010. Like, it was not obvious. Certainly, there was no Starlink narrative when these were made. There was no space data center narrative. This was a rocket company that was blowing up rockets left and right and not quite getting to, you know, massive business. You really had to be a believer, and they were.

• 24:22Jordi Hays?

  Paki was having some fun on the timeline. He said,

• 24:25Speaker 03

  "Megafunds are too big to generate returns. They're basically just seed collectors."

• 24:32Jordi Hays?

  And of course, they're printing.

• 24:35John Coogan?

  Yes, they are printing. Jensen Huang talked about the quarter that Nvidia just had. He said, "The buildout of AI factories." Boo. "The largest infrastructure expansion in human history." Yay. "Is accelerating at extraordinary speed." Yay. Not a fan of the AI factory terminology, but good that there is progress being made. "A Gentic AI has arrived." He says, "Doing productive work." True. "Generating real value." True. "And scaling rapidly across companies and industries." Also true. Lots of good stuff. Nvidia net income, it rose to 42.96 billion. They almost hit 43 billion. Not too bad.

• 25:21John Coogan?

  A year earlier, they were doing just 18.8 billion in net income. Huge, huge increase.

• 25:27Jordi Hays?

  Really wild.

• 25:27John Coogan?

  Really wild.

• 25:28Jordi Hays?

  Printing. Definition of printing.

• 25:30John Coogan?

  All good news. The stock is sort of up and down, basically flat. But Nvidia revenue jumped 85% to 81.62 billion from 44 billion last year, the company said.

• 25:44Jordi Hays?

  Shocking.

• 25:44John Coogan?

  Yeah, great stuff. Steve Wasniak, the co-founder of Apple at Grand Valley State University. He talked about AI and unlike Eric Schmidt, he did not get booed offstage. He actually got cheered for his comments.

• 25:59Jordi Hays?

  Wait, this was, who was it, Tyler? Steve Wasniak? No, no, no. Shots fired. I'm a big fan of Steve Wasniak.

• 26:07John Coogan?

  I love the Was.

• 26:08Jordi Hays?

  Shots fired.

• 26:09John Coogan?

  Let's play the clip from Grand Valley State University on Instagram here.

• 26:13Speaker 04

  You all have AI.

• 26:17Speaker 04

  You all have AI. Actual intelligence.

• 26:20John Coogan?

  Oh, mic drop. News slapper.

• 26:25John Coogan?

  Hey, plowing to the crowd.

• 26:26Jordi Hays?

  We're gonna need a big.

• 26:26John Coogan?

  He knows the audience. He knows the audience.

• 26:28Speaker 04

  We're trying to figure out how to make a brain. Software, hardware, synapse chips. And I was at a company where the engineers figured out how to make a brain. Takes nine months.

• 26:41John Coogan?

  Um, yeah, knee slapper, but he knows the audience. He's delivering the right thing. Is he AGI pilled? Is he super intelligence pilled? Probably not, but uh, it is uh, regardless, I think uh, it's, it's potentially the right framing for the crowd. It's knowing the audience and uh, and, and that is a way to bridge to a broader conversation about AI, a broader conversation about how humans fit into a post AGI world. Uh, I don't know. We'll have to go watch the full clip eventually.

• 27:11Jordi Hays?

  Uh, let's, let's uh, close it out with this video from Tyler that we can pull up.

• 27:15John Coogan?

  Okay. What is this?

• 27:16Jordi Hays?

  Uh, this is the video I was referencing uh, with, with Marcus. I'm very concerned about these gentlemen.

• 27:22John Coogan?

  Okay.

• 27:23Jordi Hays?

  And what they're doing.

• 27:24John Coogan?

  Pull it up. What's happening?

• 27:25Jordi Hays?

  Let's get some. Like this is, this is insane content. I mean, the helmet is getting dented. I think this is brain damage.

• 27:36John Coogan?

  Skill issue. They really hitting that, aren't they?

• 27:42Jordi Hays?

  But we'll try it out after we do.

• 27:44John Coogan?

  We have the gong mallet.

• 27:45Jordi Hays?

  Yeah.

• 27:46John Coogan?

  We'll see you tomorrow. Goodbye.