A (2:31)

If they pass on Warner Brothers, they have, they have, they have loose change in the couch cushions to toss OpenAI's.

B (2:38)

Way they can collect to the tune.

A (2:40)

Of $10 billion checks potentially. I mean, it does feel like OpenAI is at a bit of a. It feels like the vibes around OpenAI trough of disillusionment potentially going into plateau of productivity. It feels like they're turning it around. It feels like the new models and.

B (2:58)

The products, I don't know. I haven't seen many people say I love 5.2. But then again, outside in the real world, clearly ask people what AI app they're using and that'll give you a lot of signal.

A (3:14)

It just feels like, you know, okay, maybe, maybe we're not in Baja Blast territory, but we know that every code red is followed by an equal adult mode.

B (3:23)

Adult mode is coming in January.

A (3:26)

Yeah, maybe, but, but it does, it does seem like a lot of the, A lot of the, A lot of the negativity has kind of worked its way through the markets traded down. There's maybe not another. Like, it's like it feels like we're finding a bottom. Like we're finding like the footing of like, okay, reset. The narratives rebuild back up. Like, can they catch up in this? Can they catch up in that? If you see a couple good charts, couple growth charts, then you're sort of back in business because.

B (3:58)

And again, I still think so negative.

A (4:01)

As like, the point that I'm making is like a couple months ago it was like, it's Enron. It's going to blow up. It's a zero. It's not going to work at all. And it does feel like we're turning.

B (4:12)

The corner on that maybe muted the people that, that are still saying that because they're still saying it.

A (4:17)

They're still saying, well, it just got old.

B (4:20)

Funny post say, Sam says, sell me this pen. Jensen says, I'll lend you the money to buy it.

A (4:28)

Warner CEO David Zaslav and Netflix Co CEOs Greg Peters and Ted Sarandos on the Warner brothers lot. They took game day photo. They went out deliberately to, to just strut and just flax. And they clearly knew what they were doing. Hey.

B (4:43)

Well, this is their new lot.

A (4:45)

You point. You look over here, guys. Can we look over this direction? Okay. Yeah, that's perfect. Snap, snap, snap. They know what they're doing. No hostile offer can get between us. We're bros. We're hanging out. This is a sign of strength.

B (4:56)

Signs out. There's palm trees.

A (4:59)

Yeah, this is them sending the signal. Sending a signal. Hey, we're excited to work together. We're excited to be in partnership collaborating. There was One person who quoted this and was unhappy about it, where is.

B (5:13)

They were saying that they weren't well dressed.

A (5:15)

Yeah, they were saying that they weren't well dressed. And he was like, I'm. I'm kind of in that boat. It's not. It's not.

B (5:20)

They threw on a blazer. They threw on their. They're rocking blazers. Give them a break.

A (5:24)

Hollywood executive style. That sort of like become the norm.

B (5:28)

But this is also a good way for. For people that are maybe more on the tech side to start dressing up. You don't have to go from jeans straight into a suit. You can throw on a blazer. Right? Something. Consider Matt Levine is back. I missed Christmas Eve and New York, New Year's and the Fourth of July holidays. For newsletters a lot smaller than this, this is as good as it gets for newsletter writers. He says Warner doesn't trust Paramount. Revocable Trust, ESG side letters, IPO lockups, Destiny and doing deals over the holidays. Trust. If you're a normal person, most of your wealth is probably in your own name. But if you're one of the richest people in the world, you probably have a lot more complicated estate and tax planning, which probably means that a lot of your wealth is and trusts, legal arrangements that your lawyer set up to hold assets for you. Most simply, you might have a revocable trust where your assets technically belong to the trust, but you have control over the trust's assets, investment decisions, beneficiaries, etc. This can be useful for estate planning, but for most purposes, owning assets in a revocable trust is pretty much like owning them yourself. I regularly say that Mark Zuck, Mark Zuckerberg, Mark Zuck owns a lot of shares of Meta, or that Elon owns a lot of shares of Tesla, even though neither statement is exactly true, their trust owned the shares, but for most practical purposes you can think of, they own them. This creates, I suppose, a small, dumb problem. Let's say you build big yachts and Mark Zuckerberg comes to you and asks to buy a billion dollar yacht. Naturally, he will pay you the billion dollars on completion of the yacht. You might ask him, well, do you have a billion dollars? And he might say, no, actually I don't. But the Mark Zuckerberg Trust owns like a bajillion dollars worth of Meta stock, and I control that, so I'm good. You find that persuasive, so you pull up the odd sale contract. Who do you put in as the buyer? If you put Mark Zuckerberg, he has no money if you put the Mark Zuckerberg trust, it has plenty of money now, but if it is a revocable trust, he can just take all the money shares out whenever he wants. It's revocable. If he changes his mind about the yacht, he can clean out the trust. You'll send the bill to the trust, but the trust will have no money and you'll be stuck with the yacht. Not that bad of a situation to be stuck with a billion dollar yacht.

A (7:30)

But if you're in the business of selling them, you certainly want to be able to complete the transaction.

B (7:35)

I get the point. Honestly, this is a pretty easy problem to solve. You put Mark Zuckerberg in the contract. He doesn't own the assets directly, but he controls the trust. So if he owes you a billion dollars, you can make him take it out of the trust. But maybe you'll get confused. Or he'll get confused and you'll end up signing a contract with the trust. Then if he changes his mind, he can zero out the trust and stiff you. I cannot imagine that this comes up a lot with yacht builders or anyone else. Elon Musk once did sign a contract by Twitter for 44 billion, then changed his mind and tried to get out of it. The fact that his wealth is mostly in a trust did not at any stage of the proceedings trouble anyone. He had signed his equity commitment in his own name and everyone understood that if he was sued and lost, he'd have to pay with his trust money if necessary. And Twitter did sue him and he did pay. Fine, fine, fine. On the other hand, Paramount is trying to buy Warner Brothers discovery, breaking up Warner's deal to sell itself to Netflix Inc. And Paramount does not have nearly enough money to pay for Warner. Instead of much of the money behind the bid comes from Paramount Chief Executive Officer's dad, Larry Ellison, as of this writing, the fifth richest person in the world. Or the rather it comes from his trust. And this would be one of the greatest tricks in the history of mergers and acquisitions. One major sticking point is Warner Brothers concern about the financing proposed by Paramount, which is led by David Ellison. A big part of the equity is backstopped by a trust that manages the wealth of his father, Larry Ellison. Because it's a revocable trust, assets can be taken out of it at any time and Warner Brothers may have no recourse if that happens. The people said. Matt says ahahaha. Sure. The risk here is Warner throws over Netflix, pays at a $2.8 billion breakup fee and signs a deal to Sell itself to Paramount for something like 108.4 billion in cash. For some reason, changing market conditions, regulatory difficulties and a change of heart by the Ellisons or a change of heart by their co investors, the Ellison's decide they don't want to close the deal. Quietly, in the comfort of his own home, without saying anything to Warner, Larry Ellison takes all of his stock out of the trust, leaving it empty. Yoink. He whispers to himself. Oops, Nevermind. Paramount tells Warner. Warner sues Paramount for specific performance, seeking to make it pay 108.4 billion and close the deal. LOL. We don't have that kind of money, says Paramount, which has a market capitalization of about 15 billion in about 3 billion of cash. When we signed the deal you knew that the money was coming from the Ellison Trust. So Warner sues the Ellison Trust for specific performance, seeking to make it pay 108 billion and close the deal. Lol. We don't have that kind of money, says the Ellison Trust. We did sure, but the trust got revoked. Yoink adds Larry Ellison more loudly this time. So Warner sues Larry Ellison for the money. He says who me? Says Larry Ellison. You have no deal with me. I don't even know what you're talking about. This is not my problem. This does not strike me as especially likely and it would obviously be bad for Paramount and the Ellisons. But I suppose it is possible and it would be a pretty fun trick. Today Warner officially rejected Paramount's bid, advising shareholders not to sell their shares in Paramount's tender offer. Paramount's own tender offer says that the Ellison equity commitment and guarantee will be from the Lawrence Ellison revocable trust, not from Larry Ellison himself. The offer points out that the trust is rich. The Ellison Trust has financial resources well in excess of what would be required to meet its financial obligations under the equity commitment letter, including many other assets and financial resources available to it. Record and beneficial ownership of approximately 1.16 billion shares of Oracle stock with a market value of approximately 252 billion as of the date of this offer to purchase. But as the name says, it's revocable. This seems extremely fixable. Have Larry Ellison signed the commitments personally? William Cohen reports that the whole situation is trains passing in the night and quote, the Ellison's believe they can still be sued for specific performance to fund the deal. He quotes a person familiar with their thinking saying that there is no financing condition in the deal. And Paramount and the Ellison slash Redbird along with our lenders are legally obligated to Close. Regardless of future financial or business performance at Paramount. That is not an impossible thought to convey in a merge in merger papers. And yet, so far, they apparently haven't.

A (11:47)

The real trick is obviously, create a revocable trust and name it the irrevocable tricks. Can you just do that?

C (11:55)

One simple trick?

A (11:56)

One simple trick.

B (11:58)

M and A. Lawyers hate this. One simple trick.

C (12:02)

I am wondering, like, if this is very common. Yeah, I mean, Matt Levine talks about this, but, like, why did Elon not do this during the Twitter buyout?

A (12:08)

That is a good question.

C (12:09)

Because it says Elon did sign the contract in his own name, which he could have just done to the trust, and then he could have backed out when he wanted to.

A (12:16)

Well, I mean, one thing is it feels like Elon just rips checks and was very much just like, yeah, I'm good for it. I'm going for it. I don't want to play this game at all, because I'm all in. You have the full faith and credit of the bank of Elon Musk. Essentially, we talked about with. When you make an offer for a big company, there's the expected value of the close. And saying, hey, we have this backstop is something that increases the probability that you close, that the financing condition is met. But then saying, okay, we're doing it in a trust or a revocable trust takes that down a little bit. But again, there's a world where all of the different capital providers lined up and you're not even talking about trust, revocable or irrevocable, because you never get there, because all the different funds are saying, are jumping. I want to get in. I have to get my stake. I want 10% of this. Here's 10 billion. I'm ready to go. You don't even care about the backstop or you don't care about the trust because everyone's lining up. The only reason that maybe they're in this scenario is because it feels like Warner Brothers did actually sort of kick the tires on the Paramount deal and get to the end state of evaluating it and saying, oh, well, like we've heard, you know, you mentioned Jared Kushner's in. Like, is Affinity Partners really in? And when they push them, Affinity Partners is. Seems like they might be out. I don't know. I don't know exactly what happened, but there's a variety of stakeholders that came in, and the level of. It's not just that they were thumbs up, thumbs down. There were some that were. That people said that they were thumbs up. They wound up being thumbs down. Some of them were here and they wound up being there. A little bit edgy. Depending on a lot of different folks where it's like putting together any other financing round. Ideally, every investor that goes into a seed stage company or series A company is yes, I'm good regardless of who else is in the round. Every once in a while you get VCs who say, yeah, I'll sign a term sheet, but term sheets are non binding and we'll see how the round pencils out. I'll sit on this signature. I'm not going to sign this, I'm not going to wire.

B (14:24)

Or they would give a verbal. And thinking that Sequoia is going to come in. Sequoia doesn't and they're like, oh.

A (14:32)

Or vice versa. They give the verbal, they sit on it, they're not wiring, they're maybe leaning back. And then Sequoia comes in or founders founder and Dreeson or someone comes in and then they're like, wait, wait, wait. You said that I could get 2% of this company for 100k. Like give me my terms. And you're like, you didn't sign that doc. You were very much leaning out. I've been in that situation. Wall street gets early taste of hot year expected for IPOs Shares of a company called Medline began trading in the biggest new stock listing since 2021. Wall street is getting a glimpse of what could be the biggest year ever for IPOs in the US after four years of choppiness in the market. You didn't even let me get to the number. The medical Supply Co. Raised $6.3 billion in its stock offering. The stock closed at $41 a share. Massive offering. It's the biggest IPO since rivian, actually in 2021. We're the largest company no one's ever heard of, said the chief executive Jim Boyle. So the offering could help set the stage for some of the Most highly anticipated IPOs with rocket maker SpaceX, AI company Anthropic and mortgage giants Fannie Mae and Freddie Mac among the companies looking at listings in 2026. OpenAI also rumored there's a couple other companies that might go out.

B (15:55)

There's a bunch of tech darlings that are look kind of like infants in comparison to but still might be your.

A (16:03)

Level of maturity to go out.

B (16:05)

Very notable companies that are basically at Figma scale.

A (16:08)

Sure, yeah, yeah. Or even beyond for a long time. You know, if you're a $10 billion company in the tens of billions. The Decacorns Any Decacorn should be comfortable going out potentially, as long as they're not in some crazy R and D cycle and they actually we have the core financials humming at this point. Bankers say their teams have been busy in recent weeks pitching companies to be lead Advisor on their IPOs, marking a pickup in activity. Many startups had eschewed going public in recent years. I'm not sure that's entirely true anymore, said Magdalena Henrich, head of US Technology Equity Capital Markets at Bank of America. In our newsletter today we did a little review of the model wars. What a year. Just in terms of model releases. August 7 OpenAI releases GPT5. September 29, Anthropic releases Claude Sonnet 4.5. Then the day after, OpenAI releases Sora 2. The same day Meta releases the Meta ray bans displays. November 3rd, OpenAI and Amazon announced a partnership value to 38 billion. November 12th, 5.1 drops from OpenAI. November 17th XAI releases Grok 4.1. November 18th, Google releases Gemini 3. Massive response to that. It's crazy that that was just one month ago. November 20th Nanobanana Pro comes out. Then November 24th, Anthropic releases Claude Opus 4.5. We talked to Sholto about that. And then December 1st Deep Seq releases Deepseek version 3.2. And of course, before the end of the year, OpenAI had to fire back with GPT 5.2 on December 11th. And then December 17th Google releases Gemini 3 Flash.

C (17:54)

Also today, I think OpenAI released 5.2 codecs like the coding model version. I think there's this whole narrative where like, oh, AI is stagnating. Where it's like, bro, look at the benchmarks. It's on the trend.

A (18:07)

Look at the benchmarks. They're saturating. There was a moment where just multiplying two really, really big numbers together on a computer, you needed more memory to do like 1000 digits times 1000 digits. We need to get you a massive winter coat to get through this AI winter, because the AI winter is happening.

C (18:28)

I'm telling you, there's no AI Winter.

A (18:30)

There is. I mean, it's the age of research, okay? The age of research.

B (18:34)

Can you imagine? It's like June next year. It's hot in the ultra Dome. Tyler's just keep the coat on, buddy. You can't take it off till it's over.

A (18:41)

Till it's over. The progress.

C (18:44)

Like, people want AI to stagnate so bad. People.

A (18:47)

They do.

C (18:47)

So many people want that.

A (18:48)

They do.

C (18:49)

And it's not happening, bro. It's like the models are getting better.

A (18:52)

Everyone without bags is saying it's stagnating.

C (18:56)

Well, no, because all those people are like, oh, like I missed Nvidia or whatever.

A (19:01)

You think Karpathy's like, I missed Nvidia. So I got to go trash AI and he's.

B (19:04)

Well, I think we can all agree, Tyler, that it's the age of research, but it's also the age of deals. Okay, got to talk about, we got to talk about Trump Media and technology. This morning I woke up and you know, a lot of people that you know, do like mental health podcasts, they say look at your phone within five seconds, opening your eyes. Yeah, just immediately, you know, connect with the Internet and just sort of start kind of marinating in all the notifications that you maybe got over the last eight hours. That's what I did this morning. I open my eyes, I immediately grabbed my phone. I see this push notification, I think it was from Bloomberg that Truth Social parents to merge with nuclear fusion firm in a $6 billion deal and I thought I was dreaming still because it just seemed insane. Trump's been so active this year on the, on the deal making side, who would have thought he had another multibillion dollar deal to do this year. So of course Trump Media and Technology Group, the social media and crypto company part owned by President Trump, said it would develop a utility scale fusion power plant. President Trump's social media company, which recently expanded into streaming and cryptocurrency, is now entering its fourth act, Fusion power, promising but still unproven source of alternative energy. DJT and Tay Technologies have said Thursday they had agreed to an all stock merger that the company's valued at more than 6 billion. The deal would be a metamorphosis for Trump Media, the money losing parent company of Trusocial social media platform that has struggled to gain market share beyond serving as the main online megaphone for President Trump. Mr. Trump is the company's largest shareholder with a large stake worth more than 1 billion that is held in a trust. We're trust maxing of course, managed by Don Jr. Who is a Trump Media board member. The company, based in Sarasota, Florida has only a few dozen full time employees and has recorded tens of millions of losses in recent years. The merger with Tay would create one of the first publicly traded nuclear fusion companies, according to the release.

A (21:08)

You know people are going to talk trash about this like oh, what is a, what is a social network doing building energy assets. But you look at what Amazon's doing? Building massive data centers. Where? For aws, Amazon owns Twitch. That's a social network. What else does Amazon own? Well, they own some diesel generators for backup power at the data centers. Fusion. Theoretically cleaner. Who would have thought that out of the Silicon Valley tech people they would be using diesel while the big guy is using clean energy to power his social network.

B (21:43)

Fascinating. Fascinating stuff. TruthJeshtral's also getting into the prediction market game.

A (21:48)

No way.

B (21:49)

Launching a native prediction market feature in the app.

A (21:51)

It's crazy that they're not.

B (21:53)

I wonder if it'll be like predictable trade. On the content of Trump's next post, I am interested to see how the future presidents approach business. Right. Who was the guy with the peanut farm?

A (22:07)

Jimmy Carter.

B (22:08)

He got into a little hot water because of his peanut farm. I think he didn't fully divest.

A (22:12)

No, he did divest.

B (22:13)

But he still got in hot water.

A (22:14)

No, it's just remarkable because the peanut farm was so small and so insignificant in the US Economy and even in his personal balance sheet. But the fact that he was saying, look, I don't want any idea of impropriety, so I'm going to divest from a small peanut farm that I'm associated with so that no one can say that I'm in the pocket of Big Peanut or I'm proud or Little Peanut. And so the fact that Jimmy Carter divested from the peanut farm, he was not in big oil or railroad barren or associated with banking. He had very little conflict of interest and he reduced it even further. That's always been a sign of what great looks like.

B (23:03)

Trump has been in founder mode for a long time, getting all kinds of criticism about the business from people who aren't actually in the arena.

A (23:13)

It is crazy the degree to which he is a successful technology founder.

B (23:19)

People can take have their issues with the president, but they cannot deny that. They cannot say with a straight face that he is not a technology.

A (23:27)

He's never founded a unicorn tech company.

B (23:28)

He's never taken a social media app public.

A (23:31)

You can't say that.

B (23:32)

You can't say that. He's never merged with a nuclear fusion company backed by Chevron, Google and Goldman Sachs.

A (23:39)

Almost $1 trillion has been invested into AI so far. And that may just be the start. Look at this graph or this. This is such an interesting way to visualize the flow of money because we see it as these like, moments in time. A $10 billion deal here, $100 billion deal there. This is showing the investment over time. And you can see you know Nvidia flowing to Amazon and all the different companies. Where's OpenAI? OpenAI is just flowing around. It's just a cool little, like, you know, data visualization. I thought this was fun to look at. Can't wait for this AI bubble to pop so we can all go back to normal. Just like how the Internet completely disappeared after the dot com bubble popped. It's another bullish take for AI it's not going anywhere. You agree? Yes.

C (24:25)

It's a great take.

A (24:25)

It is a great take. And 18,000 people agreed it's a great take. I also think it's a great take. This doesn't seem so fast takeoff. Build more Internet build, which is slow takeoff. The Internet has slow takeoff. Everyone thought it was going to be. The Internet is the superhighway. It's going to be 1000x growth. Yahoo's going to be worth a trillion dollars. And then kind of settled in. Took a while for things to find use, cases find value, but eventually it did transform everything. But this time it's different.

C (24:56)

Yeah, this time different.

A (24:57)

Exactly.

C (24:57)

Because this time we have the Internet, so it's way faster to do distribution.

A (25:00)

Yes.

B (25:01)

I don't want to. You weren't even alive in that Eric Tyler. I don't even want to.

A (25:06)

I was racking servers in a data center while you were in the cradle.

B (25:12)

More importantly, this is the streamer. Cut the Apple Vision Pro's weight in half. Whoa. Whoa.

A (25:18)

That's genius. This is innovation. This is crazy innovation. Wow.

B (25:26)

Imagine walking into an office and every person there is just locked in with a balloon.

A (25:30)

This is somehow more cyberpunk than just the default put the big screen on your face. I like this.

C (25:36)

And people say the Chinese can only copy and they can't invent new stuff.

A (25:39)

That's not true.

B (25:40)

Not true. If you're a class clown coded, which I certainly am. Imagine walking around the office and just. With a little needle.

A (25:47)

No, no, no, no, no, no.

B (25:48)

I think it doesn't actually. It's not going to hurt them. It's still strapped to their head, but.

A (25:52)

You'Re popping their balloon. Then they have to go get more helium. And helium. I mean, scarce resource.

B (25:55)

I want this guy to make a personal blimp. It's just like a harness you can put on with enough helium to just take you up.

C (26:03)

Yeah, I think the Mythbusters did that. You just get a bunch of balloons. Yeah.

B (26:06)

And it worked. Doing that and then skydiving down would be. Would be pretty cool. You should work on that over the winter break.

A (26:16)

Oh, this Is so, so funny. Big news. Alpha Ton. A ton of alpha. We got a ton of alpha over here at Alpha Ton Capital. We're making a historic $30 million strategic investment in Anderal industries. And they tag them said we are investing in the future of defense tech and the convergence of decentralized AI with next gen national security. This is a strategic bet on the companies of the future. This unprecedented investment positions Alpha Ton at the forefront of next generation defense technology infrastructure, marking a pivotal moment in the convergence of public markets and advanced national security capabilities. Nasdaq, Aton and so they're trying to become an Anduril like Holdco basically or treasury company. Treasury company. And Palmer just quote tweets them into the street stratosphere by saying Alpha Ton is lying. This is not true. Public heads up to CEO Brittany Kaiser. Own your data. Now the whistleblower who is bitcoin. Alpha Ton Capital. That's the. I guess that's the owner of this. You do not have permission to use my trademarks to defraud your investors. And Brittany says, hey Palmer, we signed an agreement to purchase economic exposure to Anduril shares through an SPV and to accumulate more exposure over time and offer access via formal secondaries product. Given our network's demand for your innovative tech, I will issue a clarification. And Palmer says that isn't what you and your company said though, to be extremely clear, Anduril has to authorize these types of transfers and I will not authorize it.

C (27:50)

Wow.

B (27:51)

Like this looks like an AI bot is just like posting, but this is a public company.

A (27:56)

Yeah, it does look like just some sort of like complete slop scam. Like you would assume that. You would assume that if you go down this particular funnel you wind up at like hey, you know like send me some random crypto or something. Like it feels very scammy and it's. I mean, you know, Palmer is sort of calling it a scam, but it is a public company, I guess.

B (28:18)

Well, I'm sure Anduril's legal counsel will really enjoy having a nice calm holiday.

A (28:24)

Weekend, I'm sure while they clean this mess up. One of many chew by this is the new phrase. This is the new word you gotta learn.

B (28:31)

Chewbai.

A (28:32)

People know chopped.

B (28:33)

People know chopped Duchess of Bushwick says recently invented the word chewbai which is when something is both chopped and also spiritually Dubai examples. So House Goyard Pandora Carbone Kith drop your chew by things in the comments. So House, I gotta say I think it's spiritually very English. I Mean, that's obviously the origin of it, but. But. Yeah, again, again.

A (28:57)

But is England spiritually Dubai now? Who knows? It's possible.

B (29:02)

Oat milk is definitely chubai.

A (29:04)

Better to be chew by than just chopped though.

B (29:06)

I don't. Yeah, but also I don't want to. There's a lot of great things about Dubai. You can rent an SF90 for the day for like a grand. I did that at one point during F1 in 2020, 2022, if you ever.

A (29:21)

Fall off, people are gonna be calling you Chew by for sure.

B (29:24)

Chew By.

A (29:25)

Massive Balenciaga sneakers. I saw these at breakfast this morning. Are those Chewbi?

B (29:30)

Ben says, imagine looking for a new show and finding this.

A (29:36)

Yeah, it's so. I was just laughing at like, yeah, the sack and the gong doesn't even make noise. You really. With all due respect to the tvpn, I think this gets things a little backwards. CBS is basically unique in the network news business in being able to generate buzz. 60 Minutes still has great ratings and other CBS news properties produced talked about stuff too. Let's see his examples. So he has a. He's an older man and a younger woman next to each other.

B (30:08)

Do you know who that is?

A (30:09)

I don't.

B (30:10)

That is.

A (30:11)

Does he run the navy? He has a navy shirt.

B (30:14)

I think he run. I think he runs football.

A (30:16)

Okay. Football player. Cool. And then what position does he play? Isn't he a little old to play football? I thought you had to be like, we had Saquon on the show. I thought you had to be like.

C (30:28)

His shirt's looking a little.

B (30:29)

It's vintage Tyler.

A (30:31)

He said the reason why Ellison wanted CBS and wanted Barry to run it is precisely because it was still capable of creating buzz and generating attention. They still got it over there and yeah, seems, seems, seems, seems good. It does feel like it's breaking through in a different way. It feels like it's like the content is shifting to something that's more certainly breaking through. I see the clips. I feel like I see the clips more, but I don't know. In other news, Tim Sweeney says that Fortnite will not return to iOS in Japan in 2025 as promised. Apple was required to open up the iOS to competing stores today. And instead of doing so honestly, they have launched another travesty of obstruction and law breaking and gross disrespect to the government and people of Japan. Apple chose poorly again.

B (31:14)

Tim Sweeney. Sweeney is really Apple's worst nightmare.

A (31:17)

It's crazy. Very few companies have like such an outspoken, just hater, you know, like who's.

B (31:23)

Heavily, Heavily, heavily, heavily Insider, I guess.

A (31:26)

Sam Altman has Elon. He wants Fortnite to be free. At least not completely free, but free to. To run their own stores. Arcway.

B (31:34)

This was an interesting Caleb Barclay Arcway.

A (31:39)

Funny.

B (31:40)

A real time 3D engine where anyone can design a home. It is a simulated 3D world where buyers explore, change and decide as light physics, building rules and real products move. As one. Very cool. I've seen Redfin playing around with some.

A (31:54)

They're backed by ndvc. Yeah. I wonder if this will be wound up, be integrated into Zillow so you can like fully tour the house. This has always been sort of the dream. The Matterport team did a big job like pulling up like, you know, 3D environments, like, you know, spherical scans of various rooms within a home that you could see. And a lot of that got wound up getting integrated to Zillow and Redfin. Okay. I want to know what it looks like during Christmas. I want to know what this house looks like. Yeah, we'll see. Any breaking news?

C (32:26)

Yeah. New executive order centered around the kind of NASA stuff called ensuring American space superiority they want.

B (32:33)

I just searched executive order and the top story is Trump signs executive order expediting marijuana reclassification after lobbying from cannabis industry over at cnn. So he's really taking us to space.

A (32:44)

Yeah, I guess. Who's sloppy? Cannabis.

C (32:48)

Okay, well, this. Yeah. Different space I'm talking about. So one is. He wants to. It's. Proteus are returning Americans to the moon by 2028 and establishing initial elements of permanent lunar outpost by 2030. And then prepare for journey to Mars. Mars is less kind of concrete. Mars plans.

A (33:08)

I feel like he should add get Trump to space. He's never been. Take him on a little field trip, get him pumped up, put him on a rocket, get him up there, get him back. That'd be fun.

B (33:18)

I feel like Trump would want to be the first president to go to space.

A (33:22)

That is. That does feel like something he would.

B (33:23)

Want to do or I also feel like he'd want to rename the moon Trump Moon or just Trump drop the moon.

C (33:33)

Yeah.

B (33:33)

Oh, that's Planet Trump.

A (33:36)

Planet Trump is wild.

B (33:38)

I mean, there's a lot. There's. You maybe could have a Melania planet too.

A (33:43)

Mars. Call it Mars. Yeah.

B (33:44)

We will be back tomorrow for the final show of the year. It will be surreal. And thanks for hanging out with us today and our guests and we hope you have a lovely afternoon.

A (33:55)

Goodbye.

B (33:56)

Cheers.