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- [00:02]
A
We're both in suits today. I like it. It looks good. People have been telling us they can't tell us apart. Is that what you're saying? That. Okay.
- [00:11]
B
Anyway, but people have been saying I need something like a swear jar when I don't wear a suit.
- [00:16]
A
Oh, okay. I'd like that.
- [00:18]
B
So, yeah, something to consider. It should probably be a pretty big jar.
- [00:23]
A
20 bucks to the OpenAI nonprofit. That's what you gotta do. No, we were in Unherd. I mean, we can pull up the full post later in the show. I mean, it's a good analysis of, like, you know, what we've taken from espn. What works about live streaming. This is from Alice Key. My latest for Unherd is on why tech shows like TVPN 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 we don't always have matching suits. Usually Jordy's the casual one, but yesterday we were both casual. Today, Today we're both in suits.
- [01:02]
B
We do still get the brother thing
- [01:03]
A
a lot, but 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. 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 about humanoid robot Ramp. Why is Ramp.
- [01:23]
B
No, I'm kidding.
- [01:24]
A
No, I'm crying. Watch this video.
- [01:27]
B
Let's get some stuff.
- [01:27]
A
You gotta go to the beginning. You're spoiling it. You gotta go to the beginning. 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. Another one. I'm liking it. Yeah. And then. Not good. And then I wonder what it's thinking, because you would think that there would be some music. They gotta cut the music.
- [01:59]
B
Don't let the music keep playing while your boy's down.
- [02:02]
A
It just gets carried off like this. It's so crazy to just carry it off like this. Anyway, singularity delayed.
- [02:08]
B
Yeah. It's possible that the robot died from embarrassment.
- [02:14]
A
Yeah. Or maybe it was damaged. It's possible that, like, as it hit the ground, it was just actually taken out. Anyway, Google I O. Bunch of different announcements. Brandon Grell on our team posted on the TVPN 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.
- [02:55]
B
Heard of it.
- [02:56]
A
Of the business story.
- [02:57]
B
Super familiar.
- [02:58]
A
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 D2C boom and then didn't some of the founders move over to Harry's. Is that the same team or is that a different.
- [03:14]
B
Maybe I'm thinking of. They were certainly. When I. When I think of D2C I think of Warby. Yeah, I think of Allbirds, I think of Everlane.
- [03:22]
A
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 Allbirds has sitting at three and
- [03:43]
B
a half billion Alberts has pretty much been down, only down only since the pump on there. Neo cloud. No surprises there.
- [03:52]
A
Well, have they given us an update on how they are rolling out Kubernetes, how it's going, building their NEO cloud? Did they get allocation? Are they racking Cerebras? Are they racking GB2 hundreds? What are they racking and how fast are they getting power?
- [04:05]
B
It would be funny. Jensen ends up having to talk about Allbirds on the earnings call today. There's a new.
- [04:12]
A
Yeah. Didn't they also like fully rebrand the name? It was going to be like bird AI or all AI.
- [04:17]
B
Like they were moving. Wallbird still exists but they basically kept the public entity and that's what they're building the NEO cloud through.
- [04:27]
A
Fun.
- [04:28]
B
Well, lots of fun.
- [04:29]
A
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 Futuronomics from Sam. Kind of crazy that you can wear your favorite Mag 7 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, for a camera lens? Am I being recorded? But the Gentle Monster design, that 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 this, you see it on the Warby Parker.
- [05:54]
B
You know, it makes a lot of sense that Google's and the metas have to go and partner on different silhouettes.
- [06:02]
A
Yeah.
- [06:02]
B
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.
- [06:25]
A
Okay, first look. 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's ice, Meta has Ray Bans in 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? I love these 3M safety glasses.
- [07:01]
B
You know what you're talking about, right?
- [07:02]
A
You're working with a buzzsaw.
- [07:03]
B
I do know dust in your eyes, but these These look cool. These are sporty. I'm much more likely to just commit to the bit.
- [07:09]
A
Just go full face, compute, full cyberpunk. 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 Shield Monot was surprised by. Why is Warby Parker down 14%? They announced a partnership at Google IO 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. We. With Warby Parker officially coming for meta ray bans. Google also said it would bring Gemini two 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.
- [07:54]
B
Yeah. At what point does Google just buy Warby Parker? Right. It's a $3 billion company. It's actually done quite well 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.
- [08:18]
A
Right.
- [08:19]
B
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.
- [08:32]
A
Right? Yeah.
- [08:33]
B
And so Warby Parker's done quite well and has been surprisingly resilient. But they have incredible distribution and I wouldn't be surprised if they get sniped at some point.
- [08:46]
A
I mean, deeper integration into a traditional, I don't know, like workflow. 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 it's an AI.
- [09:01]
B
Oh, just look in Omni.
- [09:03]
A
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 in Gemini just created an AI studio. Oh, it's for your personal Google account for Workspace. You need Gemini Business. No, not Gemini Advanced. That's AI Pro. Now, unless you need AI Ultra. Oh, agents. You do that in Spark. Actually, no, not Gemini API manages it. And it's the typical. The interesting thing is that I do think Meta ray bans. It was always like, okay, 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 wiring into your life, there are way more people that see Google Docs, Gmail as the central node in their personal life. People think of all the stuff I have saved on the desktop of my MacBook is like my core repository. A lot of people think, okay, 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. I save my files and Apple files, Apple, you know, the cloud storage, I use my camera roll. Super important. So an AI agent running through the Apple ecosystem can be valuable and an AI agent running through the Google ecosystem can be valuable. The Meta Smart glasses, it's a little bit trickier to go and do anything because you're just like sort of bumping up against the walled gardens, right? Yeah. 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 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 VO3v04. Maybe in the future. I hadn't considered 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 build?
- [12:24]
B
Or do they allow people to build games on top of this?
- [12:26]
A
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. Or at least be able to 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 Rollercoaster Tycoon, which was not. 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 so that is what gets me to the legend.
- [13:13]
B
Bobby Chipman in the X chat says, can't wait for smart glasses to fully replace my monitors.
- [13:18]
A
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 ship 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 everyone was saying it's really expensive, it's clunky, it's not ready for primetime. But 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 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. We know John Gemini Flash 3.5 looks pretty neat according to Tenebris 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 train. Felt like it had some of that big model smell. Felt like it was really delightful to talk to and I think a lot of people were expecting Gemini 4 here. We, we're still waiting for the next iteration here and also, yeah, we're still waiting for Pro. Yeah, Pro isn't out, but people are speculating that 3.5 Pro won't necessarily be a new pre train. And so it seems like there's a little bit of research being at odds with 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. But if you're grinding towards a specific date and a 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 cutoff date was January of 2025. Right. Was that the date 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 get updated.
- [16:07]
B
Yeah. Overall reactions from developers across the board were not good. Not good.
- [16:14]
A
Yeah.
- [16:14]
B
Prakash here, underwhelming Cursor ranked it on Cursor Bench. It is below composer 2.
- [16:23]
A
Is that, is that a fair thing? I mean, I'd like to see you rank another. Another live stream on TVPN Bench. It doesn't match up. You know, it's like.
- [16:34]
B
No, I mean they have, they have.
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A
I guess it is a bench.
- [16:37]
B
They have all the other frontier and
- [16:39]
A
some of them are ahead of Cursor's
- [16:40]
B
own models on it's Just one data point.
- [16:42]
A
But yeah, yeah, yeah.
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B
But here's the other thing. It's four times it costs four times it underperforms Composer two, even though it's roughly four times more expensive.
- [16:52]
A
Interesting, interesting. Yeah. 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.
- [17:03]
B
Yeah. Overall starting to make more and more and more sense why Google has put so much capital and resources behind Anthropic.
- [17:13]
A
Yeah, right. Prakash says seems to indicate that DeepMind is constrained by data rather than compute for what they intend to do. Hence the TPU sales 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 appliances clauses in the entire Google keynote. Nishtha put on the gentle Monster plus Gemini glasses, tapped the side to summon Gemini. An all in one prompt said take a photo and put a cartoon blimp in the sky that says Google IO 2026. And within seconds the preview of the edited photo from Nanobanana 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 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.
- [18:40]
B
The other thing that was going pretty viral, the last thing on IO was that the Google Antigravity team flashed a codecs folder in their actual demo video. Gurgley says I had to do a double take in the second minute of the launch video for Anti Gravity. You can see people use codecs on the Anti Gravity team. Did no one double check the launch video? At the very least, not a huge surprise. Obviously Anti Gravity looks. A lot of people were saying looks quite, quite like Codec. So clearly more than Windsurf.
- [19:14]
A
I feel like it would Be like, they would have just rebuilt Windsurf. I don't know. We'll have to see.
- [19:19]
B
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.
- [19:30]
A
What was that drama with Steve Yegi going back and forth with Demis about what teams are using what models and stuff. There was a big back and forth, big dust up on the timeline, like a month ago about 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, 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.
- [20:08]
B
Yeah, it was missing two cylinders.
- [20:09]
A
It was missing two cylinders, but it looked good to me. I don't know. But now people are actually comping it to Sea Dance 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 Cdance seems to be available in America. It seems like maybe.
- [20:31]
B
Oh, I think. I think Chinese businesses have been relatively immune to U.S. copyright law for a very, very, very long time.
- [20:39]
A
And it also might just take like years to file a lawsuit. Do discovery actually go through and litigate?
- [20:45]
B
Oh, yeah, you can just go like. There's malls in China where you can go to a Nike store and Nike has nothing to do with it. And yet all the products, they've been
- [20:54]
A
selling Swatch APs over there for decades.
- [20:56]
B
Yeah, yeah, just ask. Just ask Rolex and Patek how they're.
- [21:01]
A
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, you know, to the millimeter from the outside. But internally it's just frauding. Anyway, Sea Dance 2.0 looks great. Omniflash 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, at what point 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. When will we be in a paradigm where you ask a question and you actually get an explainer video? Six minutes, ten 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 8 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 gotta move the goalpost. SpaceX IPO, the prospectus is incoming. According to ZeroHedge. As soon as May 20th. That's today, we will see. Goldman 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 was 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?
- [22:53]
B
I'm always ready, John.
- [22:56]
A
Katie Roof has a scoop. The scoop athlete of the century. Katie Roof 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.
- [23:14]
B
Yeah. Is this somewhat of a reaction to D1 getting a lot of credit earlier in the week? Right. They're set to to generate roughly 20 billion in returns. And maybe some of these other funds thought to put their hand up and
- [23:31]
A
say, I think that at this scale there are so many LPs in these funds that are getting updates and 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 Nosek and and a lot of other folks over at Founders Fund and Antonio Gracias and Valor and all the other Founders Fund folks.
- [23:57]
B
Yeah, Sequoia Founders Fund, they needed a win.
- [24:00]
A
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.
- [24:23]
B
Packy was having some fun on the timeline. He said mega funds are too big to generate returns.
- [24:30]
A
They're basically just collectors.
- [24:33]
B
And of course they're printing.
- [24:35]
A
Yes, they are printing. Jensen Huang talked about the quarter that Nvidia just had. He said the build out of AI factories.
- [24:44]
B
Boo.
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A
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. Agentic 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. A year earlier, they were doing just 18.8 billion in net income. Huge, huge increase.
- [25:27]
B
Really wild.
- [25:28]
A
Really wild printing.
- [25:29]
B
Definition of printing.
- [25:30]
A
All good news. The stock is sort of up and down, basically flat. But Nvidia revenue jumped 85% to 81.1.62 billion from 44 billion last year. The company said.
- [25:44]
B
Shocking.
- [25:45]
A
Yeah, great stuff. Steve Wozniak, the co founder of Apple at Grand Valley State University, he talked about AI and unlike Eric Schmidt, he did not get booed off stage. He actually got cheered for his comments.
- [26:00]
B
Wait, this was. Who was it? Tyler? Steve Waspniak. No, no, no shots.
- [26:06]
A
I'm a big fan of C W. Yeah, I love the wa sh. Let's play the clip from Grand Valley State University on Instagram.
- [26:13]
C
Here you all have AI. You all have AI. Actual intelligence.
- [26:20]
A
Oh, mic drop. Knee slapper. Hey, play into the crowd. He knows the audience. He knows the audience.
- [26:29]
C
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.
- [26:42]
A
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 it is regardless. I think it's potentially the right framing for the crowd. It's knowing the audience. 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. I don't know. We'll have to go watch the full event.
- [27:11]
B
Let's close it out with this video from Tyler that we can pull up.
- [27:15]
A
Okay. What is this?
- [27:17]
B
This is the video I was referencing with Marcus. I'm very concerned about these gentlemen and what they're doing.
- [27:24]
A
Pull it up. What's happening?
- [27:25]
B
Let's get like. This is. This is insane. Insane. Contact. I mean, the helmet is getting dented. I think this is breaking.
- [27:36]
A
Not an issue. Skill issue. They really hitting that, aren't they?
- [27:42]
B
But we'll try it out after we.
- [27:45]
A
We have the gong mallet. Yeah. We'll see you tomorrow. Goodbye.