TBPN Podcast Episode Summary

Episode: Big Tech turns to mining, Thinking Machines loses top executives, NYC Sauna Wars heat up | Diet TBPN
Date: January 16, 2026
Hosts: John Coogan & Jordi Hays (with Ben Thompson, Tony, Dylan, Tesla Lithium Refinery Engineers)
Duration: ~30 mins (Diet TBPN best-of edit)

Overview

This engaging episode explores the deepening integration of Big Tech into core industrial sectors—particularly mining for critical minerals like lithium and copper. The hosts dive into Tesla’s new U.S. lithium refinery, AWS’s copper deal with Rio Tinto, and the emerging challenges these shifts pose. The episode also covers the high-profile executive departures at leading AI startup Thinking Machines, the unfolding “Sauna Wars” among New York City bathhouses, and various notable happenings, including major layoffs at Meta and quirky debates about whale and seal hunting.

Key Discussion Points & Insights

1. Big Tech Goes Mining: Tesla’s Lithium Refinery & AWS-Rio Tinto Copper Deal

Timestamps: 00:02–07:35

• Vertically Integrated Tech

  • “We're now in the era where the tech companies are starting to vertically integrate so deep they own the mines and the refineries … not just building software for the mining.”
    — Ben Thompson (01:19)
  • Marc Andreessen’s “software is eating the world” thesis has now extended literally to industry, with tech firms increasingly controlling their supply chains all the way to raw materials.

• Tesla’s Texas Lithium Refinery

  • First North American spodumene-to-lithium hydroxide plant opens.
  • Tesla Lithium Engineer: "We're deploying a new technology platform that is inherently much more environmentally friendly and cleaner. It's a simpler process." (02:44)
  • Enough lithium for 500K–1 million EVs/year; “copy paste” for more capacity.

• Supply Chain & Geopolitics

  • “Obviously, the narrative around China controlling 90% of rare earth extraction ... This is their response.” — Ben Thompson (01:52)

• Copper Crunch & AWS-Rio Tinto Deal

  • AWS is underwriting a new, cleaner process to refine “messy” copper ore—the success of which could potentially triple copper supply and lower prices.
  • “70% of the global supply of copper is currently locked away in ore that's not economical to refine ... If this new process technology works, you effectively triple the amount of copper.” — Ben Thompson (06:29)

• Speed of Industrial Innovation

  • Tesla’s refinery went from groundbreaking to production in 19 months—“unheard of at this scale.” (07:10)

Notable Quote:
"I see mining as sort of terraforming. I see it in some ways as literally eating the world." — Ben Thompson (01:32)

2. AI Talent Wars: Thinking Machines Turmoil

Timestamps: 07:36–16:44

• Executive Shake-Up

  • Thinking Machines terminates CTO Barrett Zoff for “unethical conduct.”
  • Sumit Chintala promoted to CTO.

• Mass Talent Exodus to OpenAI

  • Multiple co-founders and key staff return to OpenAI, intensifying the ongoing “AI talent wars.”
  • Tony: “Not great. I think potentially more controversial news was that Thinking Machines has branded squat racks at the office.” (09:28)

• Startup Excess & Red Flags

  • Debates around spending VC money on vanity perks (custom gyms, branded fitness gear) vs. building product and revenue.
  • “It’s got to be so weird to start a company and on day one, have enough money for a custom gym. That’s just, like, unheard of … Normally you start your company in the garage.” — Ben Thompson (10:44)

• Acquisition Rumors & Valuation Speculation

  • Thinking Machines potentially valued $30–60B; possible acquirers: NVIDIA, Microsoft, Apple, Meta, Amazon.

• Lord of the Rings Meme as Industry Code

  • Rune’s cryptic “the elves have left for Valinor” (a recurring meme) signals major talent leaving startups for big labs such as OpenAI:
    • “Now OpenAI is Valinor right? They’re setting aside $50B just for pay packages. If you go back, I mean, you’re doing pretty well. It’s pretty safe, right?” — Dylan (16:12)

3. NYC Sauna Boom: The Sauna Wars

Timestamps: 16:45–25:20

• Explosion of Bathhouses

  • Flatiron/NYC now home to a dense cluster of luxury bathhouses.
    • Competition among Bathhouse, Othership, Altar, local coworking/wet lounges, and venerable Russian & Turkish Baths.

• Wellness as Social Battleground

  • “While the message from founders blissed out on 180 degree heat is one of bringing together community and good vibes, the reality can be cutthroat.” — Tony (19:45)
  • “Bitcoin Bathhouse” joke—some locations even use crypto-mining heat to warm tubs.

• Cultural Trends & Market Dynamics

  • NYC’s trendiness not necessarily representative of broader American habits, as many nationwide can buy home saunas or use local gym facilities.
  • “I'm extremely bullish on Americans starting to sweat more … The evidence is so clear that if you use a sauna every day, you will probably extend your health span lifespan.” — Tony (23:47)

• Hosts’ “Sauna Wars” Anecdote

  • Personal rivalry playing out in local NYC saunas; stories of “talking too loudly” and encountering “angry elves.” (25:00)

4. Tech Industry Updates: Meta, Land, Whales & Seals

Timestamps: 21:17–30:40

• Meta Reality Labs Layoffs

  • 1,500 laid off from Metaverse division, 14,000 remain.
  • “Even though Mark Zuckerberg has effectively complete control over Meta … at the end of the day he does respond to shareholders.” — Ben Thompson (23:36)

• Meta’s Pivot to AI

  • Capex hit $72B last year, ramping further for AI infrastructure. Ray Ban smart glasses reach 2 million units sold.

• Miscellaneous News

  • China bans CrowdStrike (tiny impact).
  • OpenAI hater “Nick” is back online, continuing drama.
  • Merge Labs: OpenAI and Sam Altman back new “human-machine fusion” startup.
    • Sam Altman (2017): “It is a failure of human imagination and human arrogance to assume that we will never build things smarter than ourselves. The Merge can take a lot of forms ... I think the Merge is probably our best case scenario.” (27:19)
  • Stan Kroenke buys nearly 1M acres in New Mexico, becoming America’s largest private landowner; farmland becomes a hot asset in the data center age.

• Greenland Anecdote—Hunting, Tech, and Politics

  • Conversation on hunting rights in Greenland crosses over into tech expansion and American attitudes.
  • Host debate: pro-whale vs. anti-seal.
    • Tony: “Seals—you're the problem. … Growing up surfing, these things are the dogs of the sea. … I'd just be in the water by myself beefing with a seal.” (29:57)

Notable Quotes & Moments

• “I see mining as sort of terraforming. I see it in some ways as literally eating the world.”
  — Ben Thompson (01:32)

• “It's got to be so weird to start a company and on day one, have enough money for a custom gym. That's just, like, unheard of.”
  — Ben Thompson (10:44)

• "The elves have left for Valinor."
  — Dylan, reciting AI industry meme about top talent changing labs (15:18)

• “I'm extremely bullish on Americans starting to sweat more … If you use a sauna every day, you will probably extend your health span.”
  — Tony (23:47)

• “The Merge can take a lot of forms. We could plug electrodes into our brains or … just become really close friends with a chatbot.”
  — Quoting Sam Altman’s 2017 essay (27:19)

• “Seals—you're the problem … Growing up surfing ... these things are the dogs of the sea ... I'd just be in the water by myself beefing with a seal.”
  — Tony (29:57)

Timestamps for Major Segments

| MM:SS | Segment | |:---------:|---------------------------------------------| | 00:02 | Big Tech mining: Tesla & AWS/Rio Tinto | | 02:44 | Tesla engineer: new lithium refinery tech | | 06:29 | Copper supply and new refining processes | | 07:36 | Thinking Machines shake-up & talent wars | | 15:18 | “Elves leave for Valinor” meme explained | | 16:45 | NYC “Sauna Wars” begin | | 21:17 | Meta layoffs & Reality Labs strategy | | 23:47 | Sauna health benefits, market dynamics | | 26:17 | Global tech news (China, Merge Labs, land) | | 29:57 | Seals vs. whales debate |

Conclusion

Diet TBPN’s January 16, 2026 episode offers a snapshot of tectonic shifts in the intersection of technology, industry, and society: tech giants now mine critical minerals, AI startup drama grows ever more intense, and New York’s wellness landscape is emblematic of shifting consumer culture. The hosts’ lively banter and insightful asides surface the stakes—and absurdities—of the modern tech landscape while keeping the conversation grounded in authentic, often humorous, firsthand perspective.