Packy McCormick (2:28)

You didn't give me the punchline when you said that the first time, but I knew where it was going.

Joe Weisenthal (2:32)

People have been standing up, standing up for.

Packy McCormick (2:34)

Standing up for the Federal Reserve chairman. And fortunately, I mean, the administration sees these. We know that they're very online and they're tapped in and they see the support. So we'll see where the story goes.

Joe Weisenthal (2:45)

Like, if you would let Jerome Powell crash on your couch for a few months.

Packy McCormick (2:50)

AI is really at its best when you need a bunch of, you know, memes and images generated around a current thing.

Joe Weisenthal (2:57)

You just created a million central bankers.

Packy McCormick (2:59)

And Jordi said this to me. I burst out laughing so hard. Yeah.

Joe Weisenthal (3:03)

Fed chair. Probably one of the worst jobs on earth if you care what other people think about you. Right. Because it's just like every. You know, all the time, people just have this massive fixation on. On you, and they're going to form an opinion immediately. But in this case, I've never seen people so united around, which is heartwarming.

Packy McCormick (3:23)

And it is, it is weird because the prediction is that there will not be another rate cut in January. There's a lot of people that would benefit from another rate cut. If you're, if you're long the market, you'd probably benefit. But I think people do are generally still fans of Fed independence and they want Jerome to do whatever's best based on the facts and the data and the unemployment and inflation. Mary says absolute insanity. The Department of Justice just served the Federal Reserve chair with a grand jury subpoenas threatening criminal indictment over a historic building renovation. Interestingly, I don't know that the details of this building, but it's not like the White House where he lives there. Right. It's like it's just a, it's a workplace. I assume it's not like it's his personal house. Jerome Powell is appealing directly to the American people and bluntly stating that the criminal charges are not about Congress's oversight role, but rather about the Federal Reserve's independence in setting the interest rate. American equities traded a premium because of our respect for law, accountability and central bank independence. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do with integrity and commitment to serving the American people on a Sunday evening before market open.

Joe Weisenthal (4:29)

Yeah, I think everybody expected last night for things to happen. Of course, nothing, nothing ever happens. But we'll see. In some ways this, this will just give the DOJ and the admin more confidence in their decision. Although they did come out and say like White House had nothing to do with.

Packy McCormick (4:48)

Yes, yes. Trump said, I'm not pro. He said something like, I wouldn't even think to pressure. What are you in for? I gave imprecise information to Congress about the scope of renovations to the Federal Reserve's hq.

Joe Weisenthal (4:59)

Trey in the chat says the funniest thing is the Fed renovation is self funded. Bubble boy says, I'm willing to die for the Federal Reserve. So he is Jerome's strongest soldier.

Packy McCormick (5:09)

A lot of people are coming out in favor of Jerome Powell.

Joe Weisenthal (5:12)

Powell watching stocks turn green after thinking the market would defend him. The tough thing is if you assume that rates are going to come down, you don't exactly want to sell assets. You want to own assets.

Packy McCormick (5:26)

There's this weird dynamic where you might not like what's happening politically, but there's a big difference between what should happen and what will happen? Positive and normative analysis. You could be like, I don't like the fact that the Fed's going to be less independent, but if it means that interest rates are going to come down, then that's bullish. That's a bullish catalyst. And so you wind up going long. Marco Rubio is finding out he has to be chairman of the Federal Reserve. I haven't followed the Marco Rubio meme too closely. I just know that he has a lot of jobs or keeps getting tapped for things. And so I've seen him in an astronaut outfit. I've seen him in, you know, different Venezuelan memes. I don't exactly know where this all came from, but I'm familiar with the concept of Marco, Marco Rubio doing everything. I guess I don't really.

Joe Weisenthal (6:06)

Yeah, it's somewhat depressing because it just means like if you're in the, if you're in the inner circle, you're going to, you're going to be, you're going to get a lot of responsibility and if you're out, you will eventually get the laser beam of the admin.

Packy McCormick (6:19)

Well, gold is through the roof today. Posts a chart. Gold jumped from 4510 to 4585. Not a huge move, but a huge move for gold of course. So people are bailing on the US Dollar potentially. Silver's also up, says the Kobese Letter. Silver surges above $85 an ounce for the first time in history. It's already up 19% in 2026. There's been a number of hard tech founders have commented on the fact that silver is actually more of an important material than gold in manufacturing the semiconductor supply chain, a lot of different AI supply chains. And so there's an interesting narrative of like the knock on effects of high silver prices. The Apple Vision Pro is in the news because Apple Vision Pro announced you can now watch a full NBA game in the Vision Pro. Not just a little highlight reel, not just a trailer. And Mark Gurman asked the question, is the total addressable market for watching tonight's Lakers game in the Apple Vision Pro. Just me or is anyone else tuning in?

Joe Weisenthal (7:25)

Have they ever done this before?

Packy McCormick (7:26)

They've never done a full game. So they've done MLS highlights. You could watch like an eight minute summary of an, of an MLS game that had a ton of different cuts. Not a lot of people were not fans of that.

Joe Weisenthal (7:37)

There were also Cadence needs to be studied.

Packy McCormick (7:40)

It's crazy and I mean that's what Ben Thompson wrote about Today in Strathecary, he's. He sees all this as like crazy own goals. A lot of really obvious things. Also the reason that you see this video so grainy like this. So Mark Gurman loved it in the headset. He said it's absolutely wild. It's like watching courtside. Trunk Fan has the video here. You can't record what's happening in the headset. You can't just steal an NBA game because so you need to like, put your phone up against it. And you don't really experience it here because for DRM reasons, you can't just pirate it. You can't just record what you're seeing. So the actual experience is better than this. I actually went to the Apple Store yesterday to try and pick up a Vision Pro to experience this, and they were sold out. And I don't know if that means that they were just like not expecting to sell anymore. So they stopped stocking them, but they didn't have one.

Joe Weisenthal (8:30)

The real review would be getting the Apple Vision Pro going to the actual game, getting the ticket right next to the system that they're using, and then just having the headset on and taking it on.

Packy McCormick (8:42)

At the game?

Joe Weisenthal (8:43)

Yeah, at the game. You want to see how real it is.

Packy McCormick (8:45)

Oh, Tyler, what would you do?

Tyler (8:47)

So this is cool because it's like emulating like what is happening in real life. But in VR you can do like things that like, you couldn't do in real life. So, like, I want to see what is the point of view. Like, if I'm the ball, you'd probably.

Packy McCormick (8:57)

Be so motion sick.

Tyler (8:59)

I want to be the ball.

Packy McCormick (9:00)

That sounds terrible.

Joe Weisenthal (9:01)

You know ball wants to be the ball.

Tyler (9:03)

I know ball.

Packy McCormick (9:03)

Ben Thompson wrote about this because he's obviously a huge NBA fan. Also, he's a Milwaukee Bucks fan and the game was the Lakers versus the Bucs. So this is like a royal flush of like the sweet spot for Ben Thompson analysis. He had to jump through VPN hoops to watch the broadcast because it was only available in Lakers home market, which is California, also Hawaii and I think one other state. So it's somewhat tricky.

Joe Weisenthal (9:27)

Wait, you can't.

Packy McCormick (9:29)

No, no. If you're in New York and you had a Vision Pro, you could not watch the Lakers play the Bucks unless you had a vpn. Yeah, there's a lot of details here.

Joe Weisenthal (9:38)

That's a huge detail.

Packy McCormick (9:40)

I know, I know, I know.

Joe Weisenthal (9:41)

Like, I have this $3,000 device that is just gathering dust and then you make this big deal about this amazing experience that I Can have. And then if I'm not actually within the area that the game is actually taking place, I can't. Yes, I can't experience it. What's the point of VR?

Packy McCormick (9:56)

So there are a lot of reasonable critiques like that. Ben puts a lot of those in his piece. I think that there are logical reasons. I don't think Apple is dumb. I don't think they just made a mistake. I think these are all contract negotiations. And when we look at the history of sports and transitions through various eras of broadcast and new technologies, I think their decision making makes a little bit more sense. Even though I agree from a user experience perspective, what you're saying, what Ben Thompson is saying makes a ton of sense. So Apple clearly reads Strathecary. They've sent him multiple headsets. He bought his own. But they keep sending them to him being like, hey, you should try it. Like, we're coming out with something new. So they've sent him the new one, the M5 Vision Pro. And he was ready to. He was ready to watch this. He was ready to love this. But he was very disappointed because cut from one scene to another. And so that takes you out of the experience. He says, do away with all of the pre show, special announcer, post show content. Just let me put on the headset, and if I put it on 30 minutes before the game starts, I'll just watch the players warm up. And then you don't need any overlays because if I want to know the score, I'll just look up at the scoreboard. You're in the theater. Like, people pay a lot of money to sit courtside and they're not like, oh, I also, oh, I'm having a.

Joe Weisenthal (11:10)

Bad experience because I.

Packy McCormick (11:11)

Please, please give me an iPad with the score on it. No, no one cares. They just look at. They hear the audience. If something great happens, they hear the roar of the crowd. They see everything. They can even look up at the screen and usually see a replay if they need to. And so all of that should be possible with just one simple Apple immersive camera rig streamed the whole game, and that's it. Instead, they did four different camera angles. They're cutting between them, and every time they cut, you get kind of like, whoa, where am I? Just teleported. It's weird. So Ben frames this, as he calls it Apple. You still don't understand the Vision Pro. He's like, taking shots at them. And I titled my piece Apple. They actually do understand the Vision Pro. And I think they've heard his response? They've clearly read his piece. He wrote about this maybe two years ago when he got a demo before it even came out. And he said, the secret to success with this product will just be put a camera on the field. Let me sit there front courtside. That's it. No editing, nothing else. And then every time they delivered him something that was edited, he wrote a piece about how bad the editing was and how you don't need that. And just let me. Let me sit there. And so my question was, there's no one that really disagrees with Ben. Like, Ben comes out and says these. These things. Every time there's an Apple Vision Pro piece of content that comes out, he comes out and says, too many edits, too many cuts. Just let us sit there. And there's not. Like, there's a lot of people that are like, ben's wrong. Actually, I love the edits more. Edits, like, they need to be even cracked.

Joe Weisenthal (12:34)

Well, let's be clear. No one's talking about.

Packy McCormick (12:35)

No one's talking about X over Ben, basically. So they should clearly listen to him. And no one's arguing that Ben's wrong. But my question is, like, why on earth isn't Apple doing this? Why? Or at least why haven't they made it an option? Like, they have the single camera there. They could just be like, do you want to watch the edited version or do you want to watch just the normal. Just sit there in the seat version? And then Ben would be happy and he'd be writing a glowing review right now. Instead, Apple's not giving what sirteckery wants and they're feeling the pain because they got an article that was not very complimentary to them in the experience. I think that this actually has less to do with the technology, less to do with the creative direction and the directorial vision within Apple, and more with just straight up contract negotiation. I went back to 1947. So TV adoption. I didn't realize this TV adoption went through a fast takeoff. In 1947, there were 16,000 TV sets installed in America. Eight years later, it was 32.5 million. It's like, completely asymptotic, completely fast takeoff. So the technology trend was clear, but there was still financial risk to getting the timing wrong for your league. The NFL is obviously a huge beneficiary of TV today. They make a fortune from the super bowl ads that are extremely expensive. But in 1949, the Los Angeles Rams, because the Rams are in L. A now, but they went to St. Louis and then they came Back, but they were in Los Angeles in 1949. They sort of got wrecked because they jumped too early. So the NFL had gone to all the franchises that all the teams were giving you the permission to sell your broadcast rights this year, this season. If you want to put your, your, your particular team's home games on tv, you can do that. You can go out and negotiate. You can sell those. It's an option, yeah. And the Rams said, yeah, we'll do it. We'll take the jump. They were the only one that did it. And it sort of makes sense since they're in L. A, there's a lot of production people here. It would be a natural.

Joe Weisenthal (14:34)

They were a little too TV pilled.

Packy McCormick (14:35)

They were extremely TV pilled and they got burned. So attendance dropped significantly. On an inflation adjusted basis, they lost two and a half million dollars of today's dollars. And so the Rams had to go to all the sponsors that sponsor the TV broadcast and say, like, hey, can you just make us whole because we're going to go out of business? And they did. And the sponsors basically paid the Rams for the difference in what they had taken in ticket sales. But it was not a good. It was not a good outcome. Although the NFL eventually got through all of this and figured it all out, that was not the case for minor league baseball. Minor league baseball. Attendance at minor league baseball events. Minor league events peaked in 1949, right during the TV install base fast takeoff. 49 million people went to minor league events that year in 1949. By 1957, the total had dropped to 15 million. So it actually did wreck the minor leagues in terms of, like, their business model, and they never really recovered. The job of a league commissioner is to get the transition right. Like, if you transition too early, you'll have a really, really bad year. While everyone just says, hey, I can just do the new thing, the new technology. I don't need to buy the tickets if you do it too late. Other leagues might have figured out their contracts, their ad sales, their broadcast rights, all this other stuff. So Adam Silver, the commissioner of the NBA, who we learned about through his connection to Josh Kushner, of course, he said, I think it's my job to incentivize our partners to be able to look out into the future. He's not saying, hey, my job's to get everyone out of the stadiums and into VR headsets asap. The end result is, like, there is a separation between immersive rights and presence rights. So there's broadcast rights, and effectively they're using the same framework. So when they sell a broadcast right, they're not selling the right to, they're selling the right to broadcast with, with an announcer, with multiple cameras, with different cuts and edits. They're not selling your, you're teleported into the stadium. And that's something that they might sell, but they haven't sold yet. I think they're deliberate about this. And so I think when they went to Apple they said, yes, we can do something because they did a deal with Meta and you can watch a number of NBA games in the Meta quest and it's the same thing. They cut around even though. And the reviews are bad. Everyone says it sucks. And so it's obvious that the tech companies should Google, how did people like this? And it's obvious. No, no, people don't like it. But I think the NBA is holding fast that they're like, no, actually our courtside seats are really, really, really expensive. And we want to keep it that way. We don't want it to be substitutive on day one. And Ben Thompson, when he first wrote about the Apple Vision Pro, he said I would pay thousands of dollars a year for an NBA league pass that allowed me to in VR, sit courtside. And that's less money than courtside seats to every single NBA game, which is effectively what you're selling. So there's, there's financial risk there. I think it can work out. I think that there's a deal and there's a price and there's a number. The install base gets to this level and you price it at this level.

Joe Weisenthal (17:37)

And I think they're too, I think in some ways they could very easily be two wildly different consumers. Yeah, like Ben is probably like, Ben Thompson knows ball. He wants to, he wants to be able to watch courtside for the love of the game. Whereas somebody that's going courtside at the Lakers or the Knicks, they're going there to be seen watching courtside. Right. And they're willing to. Like you're not just paying to watch basketball.

Tyler (18:02)

Right.

Joe Weisenthal (18:03)

Because you could pay like, you know, a fraction to sit a couple rows back. Yeah, you're paying to be sitting courtside.

Packy McCormick (18:09)

The other interesting angle is this like region lock thing. It almost feels weirder to allow someone in Los Angeles to watch the LA Lakers play because they really could just buy a ticket and go down to the stadium. But maybe you should actually be trying.

Joe Weisenthal (18:26)

To get to the whole point if you're, if you're like a die hard Lakers fan. But you don't live in Southern California. And then somebody says, hey, with the Apple Vision Pro, you can watch it, like, your courtside. That's great.

Packy McCormick (18:38)

Yeah. What you actually want is, like, Ben Thompson's in Milwaukee. He loves the Bucks, but they're playing in la. He's not going to buy a flight to go courtside in la, and so you let him experience that game, and then when they're back in Milwaukee, he can go get the courtside seats in his hometown. So you almost want to do the inverse region lock, something like that. I don't know. What do you think?

Tyler (18:58)

Wait, so is that deal where it's just the broadcast, not the actual, like, live stream, is that basically every single league? Like, can you do the same thing in F1?

Packy McCormick (19:05)

So.

Tyler (19:05)

Because that's also, like, I feel like that'd be. Everyone wants that. You're in the. You're in the cockpit.

Packy McCormick (19:09)

So every deal is unique. And there's no. There are some laws around sports broadcasting that sort of solidified, like, the blackout periods and made some of that defined some, like, legal language around that. But really, it's up to the leagues to decide how they negotiate these contracts, whether every game's available, only home games are available, region locking, blackout dates. There's all sorts of mechanics where. I don't know how true this is today, but I know that if you have a home stadium and it's full, then you can be much more permissive with the broadcast rights because you've sold out all your tickets. But if you're not selling out the stadiums, then often you won't broadcast as much or you can't broadcast as much. So you'll be in your hometown and you'll go to watch the game and it won't be broadcast because they want you to just go buy a ticket. And then. And then the equilibrium, like the clearing the market, clearing prices, that people that are on the fence who are like, I really wanted to watch the game. I can't watch it here. I'll just go buy a ticket and then over time, you fill it out. Yeah.

Joe Weisenthal (20:14)

You're going to be very excited about this.

Packy McCormick (20:16)

Please.

Joe Weisenthal (20:16)

Ben Thompson's going to join the show.

Tyler (20:18)

Really?

Packy McCormick (20:19)

No way. Amazing.

Joe Weisenthal (20:22)

Someone in the chat earlier said you're Ben Thompson's biggest fan.

Packy McCormick (20:26)

I am.

Joe Weisenthal (20:27)

And you are?

Packy McCormick (20:27)

I am.

Joe Weisenthal (20:28)

We are.

Packy McCormick (20:28)

That's amazing. Maduro. We're back in politics land. But don't worry, not for long, because we're going into watch land. Because he was caught rocking a Chopard Ganesh, a fantastic Indian watch That is incredibly, incredibly detailed. Look at all these different Swiss made. This is a crazy. I feel like this is sort of a lost art. You know, maybe Mark Zuckerberg should get into this. Wear a watch that has sweet baby rays on the dial. The sweet baby rays Chopard dial might go incredibly hard. Also, it was the Golden Globes. I know Jordi didn't watch because you probably haven't seen any of these movies, but they. They did in fact happen yesterday. Robb Report has some images of the best watches at the Golden Globes. If the Golden Globes were any indication, Subtle is officially on hiatus, says the Robb Report. This year's red carpet made a strong case for statement watches with bold dialogue.

Joe Weisenthal (21:27)

We kind of called this originally with the show.

Packy McCormick (21:29)

Did we?

Joe Weisenthal (21:29)

The. I mean, no. I mean, the joke early on was like, quiet luxury is over.

Packy McCormick (21:35)

Yes. Loud opulence.

Joe Weisenthal (21:36)

Loud opulence.

Packy McCormick (21:37)

A lot of these are screaming loud opulence. In fact, I need to return to my. Let's start with the beginning of the slideshow. We need to return to our original statements about the value of loud opulence. Because I see these and I'm like, I couldn't pull these off with. My life depended on it. But the rock was spotted watching a Chopard much like Maduro. But this one is the Alpine eagle frozen summit. Look at all those diamonds.

Joe Weisenthal (22:04)

I like it, but I'd like to see. I mean, could we get at least a couple more diamonds. Diamonds on here?

Packy McCormick (22:09)

I think it's a little understated. Adam Scott was wearing a Vacheron Constantin Traditional Perpetual Calendar Ultra.

Joe Weisenthal (22:16)

This is nice.

Packy McCormick (22:16)

That's a very nice watch. I like that one a lot. I also like this Omega Seamaster Aqua Terra that Glen Powell was seen wearing.

Joe Weisenthal (22:25)

Marc Andreessen, notoriously.

Packy McCormick (22:28)

Omega guy.

Joe Weisenthal (22:29)

That's right. New fund. Maybe this was a nod from Glenn saying, like, I salute. Hat tip.

Packy McCormick (22:34)

Yes. He celebrated. He probably read the Packy piece and he says, you know what? It's time to put on the Omega Seamaster Aqua Terra. In terms of Omega Seamasters, this one stands out to me. Gold is a choice, but I think it's working very well here. And you know who else is wearing a Omega Seamaster? George Clooney, Also an aqua terror.

Joe Weisenthal (22:55)

I would love. I would love to know the details of Omega and Rolex and the other brands, like, fighting over people like Clooney. Right? Because, you know, I don't think Clooney's putting on a watch without getting paid.

Packy McCormick (23:08)

Walmart partners with Alphabet's Google to allow shoppers to purchase products through Gemini. So Walmart is jumping in with Google. Google is posting a video of Wang. The future of retail is landing. They're taking shots at our boy Keller launching a drone.

Joe Weisenthal (23:25)

This one hit me pretty hard.

Packy McCormick (23:26)

I know, I know we love Zipline. We love Keller here. We love Google, obviously their sponsor, but.

Joe Weisenthal (23:32)

Google just leave one future of X.

Packy McCormick (23:35)

Thing for someone else.

Joe Weisenthal (23:37)

For someone else. I didn't even know about Wing until today. Was this an acquisition? Wing.com One of the best domains.

Packy McCormick (23:43)

You're going to be texting Keller like Sam Altman and Elon were texting each other about the future of AI. You're going to be like the future of drone delivery. Delivery is in our hands, brother. We gotta be Wing. No, Google's been working on this for a long time.

Tyler (23:54)

Just on the point of Elon and Sam. Elon just said on the Apple and Google collaboration, he said seems like an unreasonable concentration of power for Google given that they also have Android and Chrome. So he's still on the monopoly.

Packy McCormick (24:07)

He doesn't like. He's not a fan. We talked about Apple confirming Gemini. Very excited for that. I want them to roll this out immediately. I know that it's probably going to be some normal release cycle with very polished ads and on stage keynote and a developer preview and there'll be a whole cycle to updating. But we are in the age of AI. Apple just ship it today. Just replace Siri with Gemini today. I'm sure a lot of people would be fans of that, but they operate the way they do.

Joe Weisenthal (24:39)

I pulled a little history on wing.com so started.

Packy McCormick (24:41)

Wait, they own wing.com wing.com that's the thing.

Joe Weisenthal (24:46)

Not only do they. This is an amazing partnership, but fantastic domain.

Packy McCormick (24:50)

Yeah.

Joe Weisenthal (24:51)

So it started within X. Google X, the Moonshot factory really is a factory. The original mission was focused on emergency medical response. So they wanted to deliver defibrillators to heart attack victims. Basically they pivoted away from emergency services to last mile commercial delivery. They started doing their first real world trials back in Queensland as early as 2014. It graduated from X in 2018. They later became the first delivery drone delivery company to receive a part 135 air carrier certificate from the FAA and they've just been scaling the network since then. So yeah, I guess they're going to be able to serve 40 million people by 2027.

Packy McCormick (25:36)

Yeah. I mean as an American, as a human, as a technologist, I want more and I want competition. But as a big fan of Keller at Zipline, I want him to dominate.

Joe Weisenthal (25:45)

Now, I think. I think. I think Google maybe did this. They knew Keller had the potential for to be one of the great, the greatest in history, but they realized if he didn't have a viable competitor, he would never live up to his.

Packy McCormick (25:57)

So they're inspiring him to grind hard.

Joe Weisenthal (25:59)

Exactly.

Packy McCormick (25:59)

That's what's going on. Okay, now we understand it. OpenAI launched ChatGPT Health. Now anthropic has Claude code for heart attacks or something like that. Healthcare and life sciences code. I'm dying. Give me. Give me blood transfer.

Joe Weisenthal (26:15)

Don't make mistake.

Packy McCormick (26:16)

I use cloud code. This weekend, in a funny way, I had it. I was having slow WI fi, which of course is a weird thing to go to cloud code for because it uses the Internet, so you're gonna have slow interaction. I told her, like, hey, I'm having problems. My Internet, can you just go fix it? It ran all these different diagnostics, pinged Google pinged all the different DNS servers, ran through everything, ran speed tests, and they came back and told me to turn it off and turn it back on. And it actually worked. And I could have saved myself like 45 minutes of sitting like, yes, I'm okay with you using curl. Yes, I'm okay with you using W.

Joe Weisenthal (26:48)

The entire time, super intelligence was just turning off and then back on.

Packy McCormick (26:51)

It's Lindy. It's Lindy. It should have just preempted me and just been like, look, dude, have you at least turned it off and turned it back on? Anyway, Tyler, what do you think?

Tyler (26:58)

If Claude was being slow by the. Because of the WI fi, then that's an example of like, you know, self improvement.

Packy McCormick (27:04)

Self improvement. Oh, it improved itself.

Tyler (27:06)

Yeah.

Packy McCormick (27:06)

Yes, yes, yes, yes, yes. Interesting that everyone's pushing into health care. I'm still waiting for the push into legal. I'm wondering if that'll happen or if that's more complicated than health care. I'm also wondering, maybe health care is more lucrative, more viable, more. I would love to be in the meetings where they have prioritization of what. Who's whose lunch they're trying to eat off. Who's whose plate should we eat off?

Joe Weisenthal (27:29)

The lunch meeting.

Packy McCormick (27:30)

The lunch meeting.

Joe Weisenthal (27:31)

Meta CEO Compute Zuckerberg is launching Meta Compute planning tens of gigawatts this decade and hundreds of gigawatts longer term. This effort of will be led by Santosh, Janard Hahn and Daniel Gross. Government's getting involved in financing Meta's infrastructure. So he's saying. He's like, sam, they said it. I'm going to say it now, it's.

Packy McCormick (27:52)

Not a backstop, it's the front door. Nvidia is investing $1 billion in an AI drug lab with Eli Lilly over five years.

Joe Weisenthal (28:01)

Drug lab sounds.

Packy McCormick (28:02)

It's AI Ozempic. It's the two biggest super trends of last five years, weight loss and AI. Could it get any better? Well, now it will.

Joe Weisenthal (28:12)

Tom Brady is now the face of the former CEO of X's new company, eMed. So Tom Brady, if you're not familiar, he was the former face of ftx.

Packy McCormick (28:25)

That's a rough one.

Joe Weisenthal (28:26)

And also, was he actually the face?

Packy McCormick (28:28)

Because there were a lot of celebrities that partnered with ftx.

Joe Weisenthal (28:30)

Larry Davis in there, he was part of. He was part of some of their bigger campaigns.

Packy McCormick (28:34)

He did a bigger campaign, he did a TV campaign.

Joe Weisenthal (28:36)

So he's joining as the Chief Wellness Officer of emed.

Packy McCormick (28:38)

Yeah.

Joe Weisenthal (28:39)

And it's interesting because this kind of just makes him the face of GLP1s. Right. Which is kind of a beneficiary, like, is beneficial to the entire industry. Right. If you sell GLP1s.

Packy McCormick (28:51)

Tom Brady.

Joe Weisenthal (28:52)

Oh, Tom Brady is down. Yeah.

Packy McCormick (28:54)

Maybe he's just super AGI pilled. Maybe he. Maybe Sam said, hey, I'm an investor in Anthropic. And he said, well, I think Anthropic is going to win. I'm partnering up with you. I don't care about the structure of your hedge fund. I don't care if there's a backdoor out of your trading platform. I'm in on you because of your investing track record. What about that? Anthropic gets out at a trillion? There's going to be a debate at least about Sam Bankman, Fried Legacy. He, of course invested, what, 10 million for 10?

Joe Weisenthal (29:23)

He owned 8% of the company.

Packy McCormick (29:26)

So that would be maybe like an $80 billion position today, something like that. About 50 billion. 10 billion with dilution. I don't know. It was a good investment. Paramount Skydance has now initiated what insiders are calling Plan D. They're running out of letters as they look to upend Netflix's winning bid for Warner Brothers Discovery. Hey, maybe the D just stands for Discovery.

Joe Weisenthal (29:46)

Maybe they're saving the best for last.

Packy McCormick (29:48)

Plan W. Never take the L. Skip Plan L. Go straight to Plan W. Get the W. We're rooting for you, Alison. It involves banging home to investors the immense amount of regulatory uncertainty involved in the Netflix deal and how they could. How that could spell trouble, not just for the transaction, but for Netflix itself. And so if Netflix finds itself in a quagmire trying to acquire Warner Brothers Discovery. That could be bad news. And David Ellison wants to make that clear to all of the shareholders.

Tyler (30:18)

I have some other breaking news.

Packy McCormick (30:19)

Give me some breaking news.

Tyler (30:20)

Okay, so Anthropic, they have cloud code. They launched Cowork, which is Claude code for the rest of your work.

Packy McCormick (30:26)

No way.

Tyler (30:26)

So it's like everything else.

Packy McCormick (30:28)

That's crazy.

Tyler (30:28)

Yeah, it's basically. It's like local app.

Packy McCormick (30:30)

Oh, it's a local app. So you don't need. Oh, you don't need to do the terminal stuff anymore. You can just use it in an app with a prompt box.

Tyler (30:37)

Yes. And then it can interact with all, like, your local files, whatever.

Packy McCormick (30:40)

And then this is going to be really, really big.

Tyler (30:42)

I don't know if you guys have used the Claude Chrome extension, but it's, like, super good.

Packy McCormick (30:46)

I have.

Tyler (30:47)

Computer use is good.

Packy McCormick (30:48)

Yeah.

Tyler (30:49)

So, yeah, this is very exciting.

Packy McCormick (30:50)

Okay. Yeah, yeah. Get ready for some threads, people. People are going to be breaking it down on all the fun things they had to do. I fixed my WI fi in under an hour by rebooting it. But no, seriously, I was listening to Doug o' Laughlin from Semianalysis talk about how he uses Claude code in a knowledge work setting, and it's fascinating. So he'll kick off one deep research report about one company that he's researching, then a few more, and then he'll do a deep research report on top of that. But instead of it all living in the Claude Web U Web ui, it's just creating markdown files that then he stores in Obsidian. And then he can run these meta deep research reports on the other deep research reports that he's put together, interact with whatever's going on in the Semianalysis private data world. All the data that they've collected interact with their slack. They have a Slack bot that interacts with it. And so he was talking. He was very, very one shot by Claude code and was saying, everything is a skill issue. Now everything is a skill issue. Tyler, you have some breaking news.

Tyler (31:48)

Yeah. Okay, so earlier on the show, I was reading into the Jack Clark Cash blog. I was like, oh, maybe Jack Clark is pointing to something that space data centers. Anthropic's gonna build space data centers. I posted that. He responded, put me in the truth zone. He said, no, you should not be reading into this or any anthropic grand strategy. And he totally ratioed me.

Packy McCormick (32:07)

Oh, wow.

Tyler (32:08)

Brutal.

Packy McCormick (32:08)

But wow.

Joe Weisenthal (32:09)

Brutal mogging. Brutal mogging.

Tyler (32:14)

No anthropic data centers in space.

Packy McCormick (32:16)

Thank you, everyone, for watching thank you for leaving us five stars on Apple podcasts Spotify we can't thank you for subscribing to our newsletter, tvpn.com we will see you tomorrow. Goodbye.

Joe Weisenthal (32:25)

Just one more sleep.