Blue Origin Lands Rocket, Valve Drops Steam Machine, Cantor Group Surges | Diet TBPN

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

• 0:00John Coogan?

  Orange mode. It is, uh, we're Cozy Maxing. Blue Origin, massive landing yesterday. Let's watch the video. Jeff Bezos' rocket company, Blue Origin, has just successfully landed. Let's play the clip. This is New Glenn, the rocket booster. Oh no. On a barge in the middle of the ocean. Twenty-five years after its founding. Look at that, becoming the, it's only the second company in history to land a rocket booster after SpaceX. Uh, what, what a moment. Remarkable.

• 0:37Jordi Hays?

  Insane.

• 0:38John Coogan?

  It, it, it, in some ways, it's, it should be expected. It's been a decade since SpaceX did exactly this. This is a wild video. This is, this is like, I mean, I'm always, I'm always, I'm always amazed by, uh, the fact that they can keep the cameras even rolling or live streaming at all. It's an orbital class rocket. Very exciting. Uh, I was, I was thinking about the, the implications of this. It's interesting. It's like, on the one hand, like, yeah, you're 10 years behind SpaceX. SpaceX did this in this exact thing, 2015, 2015. It's been a decade. On the other hand, it's like China hasn't done it and they've obviously wanted to. And so that's really cool that America has two

• 1:19John Coogan?

  companies that are doing it and they're now in competition. I think a lot of people wrote off Blue Origin like Virgin Galactic. It was just like billionaire side project. SpaceX was the serious one. I think they're still, you know, they're still a decade behind, uh, but it is just crazy that he's, he's been able to keep it going for so long, making a lot of progress. And I was just laughing to myself. In any other industry, if a founder came to you and was like, "Yeah, we're, we're a decade behind the lead, the leading category, leading company in the category, but we're staying with it for another decade." You'd be like, "What? Like, you're a decade behind? You're, you're a GPT-1 level and they're a GPT-5 level."

• 1:58Jordi Hays?

  We're just trying to get to GPT-2 level.

• 2:00John Coogan?

  Yeah.

• 2:00Jordi Hays?

  You're like, "Wait, by the time you're at GPT-2, they're gonna be at GPT-6."

• 2:03John Coogan?

  Seven, six or seven. What's interesting is that it's a massive company. So over 10,000 people work there. Twenty-five year project. As I mentioned, but the idea of the idea of hiring 10,000 people and rocket scientists like not cheap people, you know, imagine, I mean, there's some of them are probably, you know, relatively new grads, but there are some serious salaries to bear.

• 2:23Jordi Hays?

  It's almost the equivalent of, you know, somebody working in big tech, setting up a cafe that loses some money, but they get a lot of enjoyment out of it. So they keep it going.

• 2:31John Coogan?

  Yeah.

• 2:32Jordi Hays?

  Even though it's not, it may never be like a rational economic.

• 2:35John Coogan?

  Yeah.

• 2:36Jordi Hays?

  Activity. But in this case, I mean, if, if, you know, the implications are that you could end up in a situation where there's a duopoly.

• 2:43John Coogan?

  Yeah.

• 2:43Jordi Hays?

  In launch.

• 2:44John Coogan?

  Yeah. I mean, SpaceX is what it multiple hundreds of billions and, you know, Blue Origin seems to have somewhat of a similar capability at some point like, you know, what's the fair market value of Blue Origin? Is it a billion? Is it 10 billion? Is it 50 billion? Like if it was a public company, just like, you know, and you're just comping it to SpaceX for whatever reason, you could imagine it trading in the billions for sure. Like you could imagine trading in the high tens of billions.

• 3:14Jordi Hays?

  Virgin Galactic is sitting at a $200 million valuation.

• 3:18John Coogan?

  Yeah.

• 3:19Jordi Hays?

  In the public market.

• 3:20John Coogan?

  I know that they spacked. I thought that they had.

• 3:23Jordi Hays?

  It's sitting at, peaked at $1,218 a share in 2019 and it's now sitting at $3.61.

• 3:33John Coogan?

  And I watched an interview, a walk, a walk and talk tour of the Blue Origin facility with everyday astronaut and Jeff Bezos. And it just seems like he's, he loves it. Like he's just doing it for the love of the game. It doesn't matter if it's going to take 10% of his net worth.

• 3:47Jordi Hays?

  I'm gonna be a spaceman.

• 3:48John Coogan?

  It's, it's got to be way more thrilling than like sports betting, for example, because it is a gamble, right? You put all the money into the rocket, the rocket either explodes or it goes up and comes back down. It's got to be thrilling. It's got to be a dopamine machine. So the other interesting thing is that because they don't do this like regular tender offers that SpaceX does, there's a lot of employees on Reddit who are kind of like, hey, like my stock options are kind of worthless. Like I don't know how to exercise these. I've been at this company for a very long time and. If I was at SpaceX, I'd probably be cashing out a lot and like retiring very comfortably. But since I'm at Blue Origin, I'm not really, I don't really have the same level of liquidity. And you could imagine Bezos running a tender offer process that mirrors SpaceX's just by himself.

• 4:33John Coogan?

  He just personally takes out a billion dollars of cash, which he has, and buys a billion dollars of stock from the employees like what happens at SpaceX when there's a billion dollar tender offer, but that comes from other investors. It could just come from him, but it doesn't feel like that's happening. Like SpaceX has this, another unfair advantage of employees who go there and think, oh, wow, I'm getting paid, you know, a couple hundred K a year, but it could be millions if we really deliver. So we gotta go the extra mile.

• 4:59Jordi Hays?

  Not just that, but I will have a, a consistent opportunity to get liquidity. It sounds like the, the people that you found that, that were at Blue Origin for a long time are probably sitting there saying to themselves, if I had joined SpaceX in a worse role.

• 5:13John Coogan?

  Some of them literally said that exact thing.

• 5:15Jordi Hays?

  Yeah.

• 5:15John Coogan?

  They literally said that exact thing. But it's just interesting that, that Blue Origin's like, it feels like they're somewhat fighting with one arm tied behind their back. They're also way behind on the, on the actual progress of the, of the reusable rocket. They're clearly, you know, like they, they don't have an answer to Starship. Starship is four times the capability of this new Glenn rocket that just landed. Hot damn, Blue Origin just landed new Glenn rocket on their second flight, officially become the second company ever to do it after SpaceX did it a decade ago. Incredible moment for the commercial space industry. The orbital economy has got to be excited about this. More competition means potentially more, just cheaper prices on payloads to, to orbit.

• 5:58John Coogan?

  So I also saw that Project Coopier, which was Amazon's Starlink competitor, I believe, is rebranding to Amazon Leo, L E O.

• 6:09Jordi Hays?

  I like that.

• 6:09John Coogan?

  Yeah, some people were really upset about the rebrand. I, I thought it was kind of cool, but they are definitely going to be getting into the space internet. Dan Golden spoke in front of US space leaders on a subject that's been weighing on him. He's bored by space, by that. He's bored with low earth orbit. SpaceX saw cheap launch and still the only, the entire commercial space economy is largely one thing, communications.

• 6:32Jordi Hays?

  Look at this picture.

• 6:33John Coogan?

  Imaginary, wow, look at that. This is the, this is taking off? Wow, look at that.

• 6:41John Coogan?

  One of the reasons that Blue Origin moved a little bit slower than SpaceX is that they leaned a little bit harder on the exquisite system going really big. And Elon had this idea of like, let's try and make a whole bunch of small things that we bundle together. So if you look at the number of engines on the bottom of that, I think it has like six engines, seven engines. And if you look at the bottom of like Starship, you'll see like, what, 30 engines or something?

• 7:07Jordi Hays?

  I think 33.

• 7:08John Coogan?

  33 engines. Elon has been bigger, at least on, hey, let's make modular pieces of equipment that can be moved around with maybe not a huge crane, maybe you can just put it in the back of a truck. Maybe to work on this engine, you can do it in, you know, one normal room instead of a massive warehouse. And so the size of the individual pieces of Starship, it adds up to a massive rocket, but each of the pieces can be worked on individually. When you start working on these really, really big systems, any small change like cascades through the rest. "Where are my asteroid mines?" Dan Golden writes, I guess in The Economist.

• 7:47Jordi Hays?

  We're all asking the same thing, Dan.

• 7:49John Coogan?

  Yes, yes, yes. So many Mac users wish they could play PC games, but they don't want expensive, complex PCs. For a fraction of the price and headache, they'll be able to play PC, PlayStation, Xbox, and indie games on the Steam machine. They launched a controller, a box, like an actual computer, the Steam machine, and then a VR headset. Valve is saying that it's going to be cheaper than the $1,000 Valve Index, which is their previous VR headset.

• 8:18Jordi Hays?

  Steam has one, there's no reason to get an Xbox, there's no reason to get an Apple VR headset, they all run on Linux, it's the ultimate computer.

• 8:26John Coogan?

  I think that it's a unique way to actually announce something, and I liked just the way they did it. Just watch this, Jordy, and listen to the transitions. Hey, everyone. This is Steam Deck. Steam Deck is our powerful, portable, and So this is the product that's like, it's already out, and... And this has been on the market for a couple of years, sold, I think, very well. No one really knows because Valve is such a quiet company, they're not publicly traded.

• 8:53Speaker 02

  We're excited to talk about the future of Steam Deck, but not today, because this isn't a video about the future of Steam Deck. This is a video about the future of Steam hardware. Today, we're announcing three new members of the Steam hardware lineup. All connect you with powerful PC gaming, all are optimized for gaming with Steam, and all are shipping in early 2026. Let's start with this one.

• 9:21John Coogan?

  Yeah, I think it's cool how they, uh, they, they, they start with something that's familiar and then they like bring you into the next.

• 9:27Jordi Hays?

  Well, the reason it's important is because it's a product that has shipped that people like.

• 9:32John Coogan?

  Yeah, it's sort of like reestablished them.

• 9:34Jordi Hays?

  Hardware gets, like, people have so little trust in a lot of new hardware products.

• 9:38John Coogan?

  Totally.

• 9:38Speaker 02

  Oh, this is the new Steam machine.

• 9:42John Coogan?

  I like that. It's like very like cute and quirky. It has like, I don't know, just like funny aesthetics, but they, they, that's the first time that they introduce the name of the product, the next, the next product. It has this like, sort of like friendly quirky, like aesthetic that fits with the video games, but it's, it doesn't feel like it's from anywhere particular. It feels original. I don't know.

• 10:03Jordi Hays?

  What do you think about the black cube?

• 10:06John Coogan?

  The black cube? I think it's fine. I mean, it's, it's, it looks like it fits in a media console where it's going to live next to a PS5.

• 10:15Speaker 02

  Oh, yep. This is Steam Frame.

• 10:17John Coogan?

  See, they do it again. And then they tell you, okay, we got a new VR headset. And it's such a funny way to introduce like a new VR headset.

• 10:25Speaker 02

  VR hardware. Stream all your Steam games, VR and non-VR alike, in this comfortable, lightweight, wireless VR headset.

• 10:33Jordi Hays?

  This was posted like, you know, very early in the morning this morning. It's possible he just was playing around on, uh.

• 10:40John Coogan?

  Okay, no, no, no. He did not do this. Atlas Hoddle wakes up every day and refers to themselves as a chronicler of Michael Saylor. Like, like that, like they're clearly like a super fan. This was something that Atlas Hoddle generated and then Michael. Sailor took it and was like,

• 10:56Jordi Hays?

  He's like, yeah.

• 10:56John Coogan?

  I gotta post this today.

• 10:58Jordi Hays?

  That's a great idea.

• 10:58John Coogan?

  When the stock's down like 50% or whatever. And so the reaction has not been good because as Jez put it, brother, you are supposed to go down with the ship. Like, he's the captain of the ship. Why is he not on the ship? It's such a crazy image.

• 11:12Jordi Hays?

  Michael Mirrorfloor says, so you're abandoning a sinking ship when you're supposed to be the captain? God, I love markets. Where else do you get an objective answer to whether you're a genius or a total effing moron in real time? Master is down 50% since this was published. The captain sailor himself, he says, unless you do the requisite 100 plus hours of studying Bitcoin on top of 100 plus hours of micro strategy, you should not enter this trade, he said, because it is a very sophisticated trade that 99.99% of Wall Street doesn't even understand.

• 11:48John Coogan?

  Obviously, people are dunking on this because the the stock has traded down 50% since this was published. Cantor Fitzgerald, now controlled by the son of Howard Lutnick, is having its best year ever, says Joe Weisenthal. Congratulations to Brandon Lutnick. Firm is on track to post revenue in 2025 of upwards of 2.5 billion, an all time high and a jump of more than a quarter on last year.

• 12:14Jordi Hays?

  How do they do it, John?

• 12:15John Coogan?

  I mean, it feels like Cantor has been early to a bunch of like, sort of risk, more risk on investments than other, even pre administration, they were early to the stablecoin thing, I believe, early to a bunch of crypto stuff.

• 12:28Jordi Hays?

  This is our Sequoia. It has always been our Sequoia. It has always been our Arrakis. Our dude.

• 12:37Jordi Hays?

  No, he says, it was never Don's Sequoia, nor Michael's, Doug's, Jim's, or Roloff's from the very beginning when Don chose to build a partnership and name it after the longest living tree on earth. Sequoia was meant to endure not through individuals, but through us, the collective strength, integrity and vision of the partnership. I think that this was just their first, like, you know, really public statement as as the new co stewards.

• 13:00John Coogan?

  But but but what is changing here? Is there, are they going to be focusing more on AI companies or less on AI companies? Or like, are there be more on growth stage or less on growth stage? Like, is there a change to the strategy?

• 13:11Jordi Hays?

  No, I think I think this is just reminding people what the firm wide strategy is. This has been probably the roughest year on record for Sequoia in terms of like comms, right?

• 13:23John Coogan?

  I mean, I guess I guess here is the answer to that question about like, what is this a response to? And Alfred says, some people have asked if we will continue to make new investments and lead the investment team. The answer is unequivocal, yes. We will source and lead new investments and we will remain co-leads of the early and growth teams. And so they're open for business, they're doing deals, they want to actually be investing.

• 13:49Jordi Hays?

  Switzerland reaches agreement with the US to cut tariff to 15%. The deal would reduce an extraordinarily high tariff rate at 39% that had threatened to cripple Swiss exports. We all know what those exports are. The United States and Switzerland said on Friday that they had reached an agreement to lower a punishing 39% tariff on Swiss goods. A change that will help to reduce the cost of exporting Swiss pharmaceuticals, gold, watches and chocolate to the United States. The Trump admin put a 39% tariff on Swiss exports in August, blindsiding a longtime ally and delivering a sharp blow to Switzerland's economy by significantly raising the cost of the country's exports, the United States of drugs, dairy products, gold and watches.

• 14:31Jordi Hays?

  The tariff was one of the highest rates set for any country, which administration officials said was in response to a substantial trade deficit the United States had with Switzerland. There's going to be roughly two Swiss companies committed to making 200 billion in investments in the United States by 2028. The United States also agreed to cap tariffs. I didn't know Switzerland had a semiconductor industry.

• 14:55John Coogan?

  Well, they do have some AI researchers over there who are who are like poached for meta, right? What have you have you been monitoring the the GPT 5.1 launch? Like, has it been going well? It feels like it's been like kind of quiet, but it's.

• 15:09Speaker 03

  People seem to generally like it. They didn't release benchmarks, so a lot of the like technical people aren't like super concerned.

• 15:16John Coogan?

  I mean, I. I saw some charts that kind of showed that it's more that they're just pushing the model router like further to the edges. So it can reason for even longer if it needs to, and it can reason for even less time if it if it just can come up with the answer quickly, more quickly. In the flow, in quotes, he says, the essential question for the modern allocator, the deal guy or the venture capitalist is, do you want to be in the flow?

• 15:41Jordi Hays?

  Tyler, do you think this has something to do with having motion?

• 15:45John Coogan?

  It seems related.

• 15:46Jordi Hays?

  I mean, Will was kind of like unk status. I don't know if he would.

• 15:49Speaker 03

  Hmm.

• 15:50Jordi Hays?

  I, whoa.

• 15:51John Coogan?

  Shots fired.

• 15:52Jordi Hays?

  Shots fired.

• 15:53John Coogan?

  Uh, let me explain. Think of The Flow as the world's greatest nightclub. It's open 20s 47. Many of the coolest and richest guys are there. Guys seem to get rich just by dint of hanging around. And the lights never turn on. It's a party that never ends inside The Flow. The only decision you have to make is to keep partying. Sure, people get hurt inside The Flow. Sometimes guys buy tables they can't afford or get addicted to habits they can't maintain. When this happens, The Flow gently returns them to pedestrian life and the party continues. No one ever seems to notice. When you're inside The Flow, the only thing you notice is the guys at higher rungs dangling over a seemingly endless set of 10x markups

• 16:35John Coogan?

  and lifestyle expenses to exhaust your newly found carry. Because in my experience during Boom's most get Flow curious, then pull back, then the pullback comes and people become contrarian and look down their noses at Flow folks without even the self-awareness to refer to their dabblings as a phase from when I was younger. And Will Manitas says, "You are describing being half in, half out of The Flow. This will kill you." "The Flow takes from those who attempt to take from it without giving their all. In return, The Flow only gives to those who give their all." Uh, it reads like a plot of a horror film. It's fantastic.

• 17:14Jordi Hays?

  Will says, "Friends that have done well in The Flow seem to share these traits."

• 17:17John Coogan?

  Oh my god, this is such a long post again.

• 17:19Jordi Hays?

  Now, he, he had to follow it up.

• 17:21John Coogan?

  He had to follow it up.

• 17:22Jordi Hays?

  "Spend 100% of net cash on rent expenses, so they constantly feel pressure."

• 17:26John Coogan?

  Oh, okay.

• 17:27Jordi Hays?

  Love that. Uh, Zegna sneakers, ABC cardigans.

• 17:30John Coogan?

  Okay.

• 17:31Jordi Hays?

  Felt very direct. Low first marriage success rates, high second marriage success.

• 17:37John Coogan?

  Okay, okay.

• 17:38Jordi Hays?

  Uh, lots of flights, constant 2-3 city rotation. Spend 99% of their time talking about deals that make up less than 5% of deployed dollars.

• 17:47John Coogan?

  Okay.

• 17:47Jordi Hays?

  Constantly holding large amounts of cash.

• 17:49John Coogan?

  Only physically like a couple grand. You're, you're a notorious tipper.

• 17:53Jordi Hays?

  Can't make it through an hour without taking a call.

• 17:55John Coogan?

  Hmm.

• 17:56Jordi Hays?

  We had a workout with one of these guys this morning. We felt, we felt really, we felt really bad. This, this guy, we showed up to the gym for a workout and had breakfast with him.

• 18:03John Coogan?

  Good buddy.

• 18:04Jordi Hays?

  And he, he had to, he, he had to step away for three calls.

• 18:09John Coogan?

  He was on the grind.

• 18:11Jordi Hays?

  Lunch guys more, more so than dinner guys, never breakfast guys. Lacrosse or hockey in high school, not rowing.

• 18:17John Coogan?

  Okay.

• 18:18Jordi Hays?

  That's Tyler.

• 18:18John Coogan?

  Wait, which one did you do?

• 18:19Jordi Hays?

  Lacrosse guy. I played lacrosse.

• 18:20John Coogan?

  Oh, flow guy right here.

• 18:23Jordi Hays?

  Zoom calls, not cell calls.

• 18:25John Coogan?

  Okay.

• 18:25Jordi Hays?

  I can see that.

• 18:26John Coogan?

  I, I can't tell if, do you want to be in the flow or outside the flow? This is interesting. It's like, we're, we're peeling back the onion. We're going a layer deeper on the deals guy archetype, which has been, uh, you know, been workshopped by Will and, and Jeremy Giffon over the last few weeks. So they're having fun.

• 18:43Jordi Hays?

  Are you guys more in the flow or out of the flow, do you think?

• 18:45John Coogan?

  I, I don't think, I don't think we qualify for either because we are not deals guys. We are not capital allocators. I think step one of even deciding if you're in or out of the flow is the first line of Will's original post. The essential question for the modern allocator, the deal guy, the venture capitalist, I'm not a deals guy. I'm not an allocator. I'm not a venture capitalist. So it's an irrelevant question. Are you more of a center or a power forward? It's like, I'm a podcaster. I, that, that doesn't even apply. Just in, the stock market is in extreme fear and the ball is being thrown at, is that Kobe?

• 19:18Jordi Hays?

  Yes, that's Kobe, John. Unfazed.

• 19:20John Coogan?

  He's unfazed.

• 19:21Jordi Hays?

  Completely unfazed. Skooks is unfazed. It's new options, uh,-esque platform.

• 19:28John Coogan?

  Okay.

• 19:28Jordi Hays?

  Uh, called Euphoria has been going viral. Ben Eifert says, honestly, this is so cute and I'm fun. I'm not even mad. I love gambling. This is so gamified. I don't think it presents as investing or democratization of derivatives or whatever. It's entertainment. And look at this.

• 19:44John Coogan?

  What is this?

• 19:45Jordi Hays?

  Tyler, are you playing this?

• 19:47Speaker 03

  Should I get on this?

• 19:48Jordi Hays?

  The AI bubble has already popped.

• 19:51John Coogan?

  Yes, I said this too. I said this too. Three weeks ago, the stock traded down 2%. The bubble popped.

• 19:57Jordi Hays?

  The information, however, is yet to propagate evenly. At 10x revenue, to give you a 10-year payback, I have to pay you 100% of revenues for 10 years straight in dividends. That assumes I can get that by my shareholders. That assumes I have zero cost of goods sold, which is very hard for a computer company. That assumes zero expenses, which is really hard with 39,000 employees. That assumes I pay no taxes, which is very hard. And that assumes you have to pay no taxes on your dividends, which is kind of illegal. And that assumes with zero R&D for the next 10 years, I can maintain the current revenue run rate. Now, having done that, would any of you like to buy my stock at $64? Do you realize how ridiculous those basic assumptions are? You don't need any transparency. You don't need any footnotes. What were you thinking?

• 20:41John Coogan?

  Badminton is live streaming in China, and you can adjust whatever angle you want? This is very cool. So they film it with a whole bunch of different cameras, and then you can pick the angle. Imagine being able to pick your own angle while watching TVPN live. That would be something special. Maybe we should steal this back from the Chinese. This seems like some awesome innovation. Now, Tyler, you don't think this is Gaussian splatting, right? Gaussian splatting?

• 21:11Speaker 03

  No, I mean, it's not smooth.

• 21:12John Coogan?

  You think this is just a bunch of cameras?

• 21:14Speaker 03

  It looks like a bunch of cameras, yeah. But you could do this with Gaussian splatting.

• 21:17John Coogan?

  Yeah. I think that'll be the next, the next iteration, the next version. But we're pretty far away from like real time on that, right?

• 21:24Jordi Hays?

  Real one knows that the shuttlecock is the fastest-moving object that's been recorded in sports.

• 21:30John Coogan?

  Really?

• 21:31Jordi Hays?

  It goes hundreds of miles an hour.

• 21:33John Coogan?

  Hundreds?

• 21:33Jordi Hays?

  Yes.

• 21:34John Coogan?

  No way. I'll put you in the truth zone there. What about rifle shooting? Does it go faster than a gun?

• 21:39Jordi Hays?

  No, a bullet is not faster than a badminton shuttlecock.

• 21:42John Coogan?

  Nooo, let's go.

• 21:45Jordi Hays?

  A badminton shuttlecock is the fastest-moving object in sports, while bullets can travel at over 2,000 miles an hour.

• 21:52John Coogan?

  The new Roadster, we talked about this in the show. Elon went on Rogan and he said, maybe it'll be a flying car. And he specifically said, the demo will be shocking, like the demo will be amazing. And so I was trying to debate with Jordi and Tyler this morning. What will the demo be? Like, what will it actually be? But what will the demo be? And there's been a couple of different examples of this. Did we ever find the video of the, the jumping Chinese car? The BYD Yangwang U9, the supercar that jumps obstacles? Let's watch this. Yeah, look, okay. So that is technically a flying car, all four wheels off the, off the ground. I would call this the minimum viable flying car.

• 22:35John Coogan?

  And so I'm expecting the Tesla Roadster to be able to do something slightly above this. Right? But the question's like, how much above this? Like, will there be a rocket engine on there? Will there be fans on there?

• 22:49Jordi Hays?

  I love, I love your theory. I think it'd be very cool if the fans could, could create some amount of thrust.

• 22:56John Coogan?

  Yeah.

• 22:56Jordi Hays?

  But I find it hard to believe.

• 22:59John Coogan?

  Yeah.

• 22:59Jordi Hays?

  That it would actually be able to lift one of these cars. They're very, very, very heavy because of the battery. So I'm going with something closer to the ability to do something like this jump, like we're seeing with this U9.

• 23:12John Coogan?

  It's potentially possible that you could use fans to create more downforce. And fans, I believe, were actually banned from F1 because there was a moment where creating artificial downforce with fans was, and I think there are some supercars that have fans that create more downforce and suction the car to the ground so you get more traction. So that is, that is a feature that could be there. The question is, if you reverse the fans for lift, you need a lot more rotor area and near megawatt power to hover a two-ton sedan. Even if you could supply it, the battery would give only a few minutes before thermal or energy limits intervene. I feel like when we're talking about demo, there's a world where.

• 23:56John Coogan?

  The demo is like, yeah, it uses half the battery and it's just a party trick, but it does lift the car off the ground for two feet or something like that.

• 24:03Jordi Hays?

  2.6 says, I don't think we're getting flying cars. I personally love being stuck in traffic. There is an incentive for Elon to get people stuck in traffic. They're more likely to become best friends with Grok.

• 24:13John Coogan?

  What if the loved ones we've lost could be part of our future? Uh, this demo video-

• 24:19Jordi Hays?

  I've never actually seen a more hated launch-

• 24:21John Coogan?

  Was sort of controversial. Baby Charlie-

• 24:24Speaker 04

  See? Oh, honey, that's wonderful.

• 24:28Speaker 05

  Kicking like crazy.

• 24:29Speaker 04

  He's listening. Put your hand on your tummy and hum to him. You used to love that.

• 24:39John Coogan?

  To Y-

• 24:40Speaker 05

  It feels like he's dancing in there.

• 24:41Speaker 04

  Oh, honey.

• 24:43Speaker 05

  Mom, would you tell Charlie that bedtime story you always used to tell me?

• 24:46Speaker 04

  Once upon a time, there was a baby unicorn who didn't know he knew how to fly. This baby unicorn was like your mom because she didn't know that she knew how to fly, but she knew how to do all kinds of fabulous things. Hi Grandma. Hey Charlie. How was school today?

• 25:04John Coogan?

  Pretty good roto there.

• 25:05Speaker 04

  I'm in this crazy shot in basketball. I don't really care that much about basketball. What about the crush?

• 25:11John Coogan?

  I like that this, uh, this video presumes that we'll have see-through phones too. Like, maybe we should build that first. That seems like a really profitable business if you can create a see-through phone.

• 25:27Speaker 04

  You loved that.

• 25:31Speaker 02

  You would have loved this moment.

• 25:33Speaker 04

  You can call anytime.

• 25:37Jordi Hays?

  I mean, it does feel like it's, I mean, it's shot maybe by the people that did Black Bear.

• 25:42John Coogan?

  It literally seems like they hired the same team.

• 25:44Jordi Hays?

  They're thinking, okay, the retention on this product, you gotta, you gotta get it, you gotta get it before your loved ones pass away. You gotta be harvesting the training data. And then at any point in the future, if you churn, they, they delete your loved ones forever. Digital necromancy to capitalize on the grief of the vulnerable. Straight to jail, do not pass go, do not collect $200.

• 26:07John Coogan?

  Do you want this? Would you ever use this? I think I'm not in the market. I don't think this is for me.

• 26:15Jordi Hays?

  They delete the S3 bucket if you don't make the payment. Super dark. I think this is one of those things that would actually have quite a lot of demand. Because a lot of people are just going to process this and say, I'm really fearful of my loved ones passing.

• 26:31John Coogan?

  I completely agree.

• 26:31Jordi Hays?

  You also find it hard to believe how many people are best friends.

• 26:34John Coogan?

  Just chat with four. Yeah, I do. I do find it hard to believe.

• 26:37Jordi Hays?

  And there are millions of them. And it's tough because I mean, I miss my grandparents.

• 26:42John Coogan?

  Potentially.

• 26:42Jordi Hays?

  I want my, I wish that my grandparents were around to spend more time.

• 26:46John Coogan?

  Yeah.

• 26:46Jordi Hays?

  With my kids. There's stories they've told me. There's songs they've sang.

• 26:53John Coogan?

  Yeah, yeah.

• 26:53Jordi Hays?

  There's all these incredible moments that I will never relive. And I wish I could experience those moments.

• 27:01John Coogan?

  Yeah.

• 27:01Jordi Hays?

  That being said, am I going to be a customer of this? No.

• 27:04John Coogan?

  Do you think OpenAI would launch a competitor to this?

• 27:07Jordi Hays?

  I don't know if they want another PR crisis.

• 27:10John Coogan?

  Thank you so much for tuning in. Have a great weekend.

• 27:12Jordi Hays?

  Have a fantastic weekend.

• 27:13John Coogan?

  Goodbye.

• 27:14Jordi Hays?

  We love you.