
Turns out the Albanian army was triumphant as Netflix is buying HBO (and WBD’s studios). The NYT is suing Perplexity. Man, everybody is heading for the exits at Apple at the same time. And get ready for a slew of insider trading controversies in our prediction market world.
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Brian McCullough
Welcome to the Tech We Write home for Friday, December 5th, 2025. I'm Brian McCullough. Today turns out the Albanian army was.
Co-Host/Tech Analyst
Triumphant as Netflix is buying HBO and WBD Studios. The New York Times is suing Perplexity Man. Everybody is heading for the exits at Apple all at the same time and.
Brian McCullough
Get ready for a slew of insider trading controversies in our prediction market world.
Co-Host/Tech Analyst
Here's what you missed today in the world of tec.
Brian McCullough
Conducting business online can feel a little.
Co-Host/Tech Analyst
Scary these days, especially with AI creating new opportunities for fraud.
Brian McCullough
In fact, Syllent estimates that AI was behind roughly 20% of the fraud perpetrated.
Co-Host/Tech Analyst
In 2024, so spotting bad agentic AI while allowing good agents to continue with.
Brian McCullough
Their tasks isn't easy. Thankfully, though, Memoto Continuous Captcha can spot malicious agents pretending to be people at the point of account creation or registration. Unlike past Captcha solutions, this runs behind the scenes so there are no puzzles for users to solve. Momoto offers techbrew Ride Home listeners early access with a special price for Momoto Continuous Captcha.
Co-Host/Tech Analyst
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Brian McCullough
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Co-Host/Tech Analyst
That's Mimoto.
Brian McCullough
Well, I wanted Apple to buy them, but it looks like HBO is going to Netflix. Netflix has apparently agreed to buy Warner Brothers Discoveries, studios and streaming businesses in an $82.7 billion cash and stock deal.
Co-Host/Tech Analyst
The transaction is expected to close after.
Brian McCullough
Q3 of next year, and Netflix has lined up a $59 billion unsecured bridge.
Co-Host/Tech Analyst
Loan from Wells Fargo, HSBC and BNP Paribas to happen, one of the largest ever unsecured bridge loans.
Brian McCullough
Netflix says it expects to maintain Warner.
Co-Host/Tech Analyst
Brothers current operations, including theatrical releases for films. Quoting the ft, the transaction will transform.
Brian McCullough
Netflix into the dominant player in Hollywood, adding a coveted library of content including the Harry Potter and Batman franchises, Warner Bros.
Co-Host/Tech Analyst
Discovery's streaming businesses and the premium programming of hbo.
Brian McCullough
As part of the takeover, WBD will continue with the planned spinoff of its cable television networks, including cnn, Discovery and.
Co-Host/Tech Analyst
Turner, into a separate company before the studios and streaming businesses are sold to Netflix.
Brian McCullough
In an auction that kicked off in October and was overseen by WBD boss.
Co-Host/Tech Analyst
David Zaslav, Netflix saw off competition for.
Brian McCullough
The business from Paramount and Comcast. Announcing the deal on Friday, Zaslav said.
Co-Host/Tech Analyst
By coming together with Netflix, we will.
Brian McCullough
Ensure people everywhere will continue to enjoy.
Co-Host/Tech Analyst
The world's most resonant stories for generations to come.
Brian McCullough
Under the agreement, WBD Investors will receive 23.$3 in cash and 4.$5 worth of.
Co-Host/Tech Analyst
Netflix shares for each WBD share.
Brian McCullough
The transaction gives WBD an enterprise value.
Co-Host/Tech Analyst
Including debt, of $82.7 billion. Its equity is valued at $72 billion.
Brian McCullough
The deal, which was approved by the boards of Netflix and wbd, will need.
Co-Host/Tech Analyst
The backing of WBD shareholders and a.
Brian McCullough
Sign off from regulators.
Co-Host/Tech Analyst
It is expected to close in 12.
Brian McCullough
To 18 months, the company said. Zaslav is set to stay as the head of the new WBD studios, which.
Co-Host/Tech Analyst
Will be kept operationally separate from Netflix to make and distribute movies and TV shows.
Brian McCullough
The deal will hand Netflix control of one of the leading film and TV.
Co-Host/Tech Analyst
Production and distribution pipelines, which will give the tech group unprecedented power in Hollywood. Netflix has promised to maintain Warner Bros. Theatrical releases for films.
Brian McCullough
The combination of Netflix and WBD will prove a test for regulators in the US And Europe, where both companies have extensive operations. Those close to the deal said they were confident any regulatory hurdles could be overcome, pointing to the fierce competition for.
Co-Host/Tech Analyst
Global audiences not just from rival streamers but also platforms such as YouTube. End quote. And quoting the Hollywood Reporter in his.
Brian McCullough
Friday morning acquisition announcement, Ted Sarandos, Netflix's co CEO and former chief content officer.
Co-Host/Tech Analyst
First shouted out in order his affinity for and excitement over ownership of of Casablanca, Citizen Kane and Harry Potter, three very theatrically released films.
Brian McCullough
Netflix famously does not distribute its movies.
Co-Host/Tech Analyst
In theaters, with very few, very limited exceptions.
Brian McCullough
Our mission has always been to entertain the world, sarandos said in a prepared statement.
Co-Host/Tech Analyst
By combining Warner Brothers incredible library of shows and movies, from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends, with our.
Brian McCullough
Culture defining titles like Stranger Things, K Pop, Demon Hunters and Squid Game, we'll be able to do that even better.
Co-Host/Tech Analyst
Together we can give audiences more of.
Brian McCullough
What they love and help define the.
Co-Host/Tech Analyst
Next century of storytelling. In the same press release, Netflix affirms.
Brian McCullough
It is committed to releasing Warner Brothers films theatrically.
Co-Host/Tech Analyst
Well, it sort of affirms that, quote, Warner Bros. Studios are world class with.
Brian McCullough
Warner Brothers recognized as the leading supplier of television titles and filmed entertainment. HBO and HBO Max also provide a.
Co-Host/Tech Analyst
Compelling complimentary offering for consumers, the media alert reads.
Brian McCullough
Netflix expects to maintain Warner Brothers current.
Co-Host/Tech Analyst
Operations and build on its strengths, including theatrical releases for films. To be clear, we bolded the expects there, but even without our darker, thicker.
Brian McCullough
Font that is heavy verb use right there.
Co-Host/Tech Analyst
Shortly after the acquisition announcement, on a.
Brian McCullough
Conference call with media analysts, Sarandos was.
Co-Host/Tech Analyst
Asked about the subject of theatrical distribution.
Brian McCullough
I wouldn't look at this as a change in approach for Netflix movies, or.
Co-Host/Tech Analyst
For Warner Brothers movies for that matter. I think over time I think the Windows will evolve to be much more.
Brian McCullough
Consumer friendly, to be able to meet.
Co-Host/Tech Analyst
The audience where they are quicker, he said.
Brian McCullough
All those things I'd like to do, but I'd say right now you should count on everything that is planned on going to the theater through Warner Bro will continue to go to the theaters through Warner Brothers and Netflix Movies will take the same strides they have, which.
Co-Host/Tech Analyst
Is some of them do have a.
Brian McCullough
Short run in the theater beforehand, but our primary goal is to bring first run movies to our members because that's.
Co-Host/Tech Analyst
What they're looking for. End quote.
Brian McCullough
Remember when Netflix said it wanted to become HBO faster than HBO could become it?
Co-Host/Tech Analyst
Remember when the CEO of Time Warner compared Netflix to the Albanian army? Yeah, life comes at you fast. My only question is, do I get.
Brian McCullough
To stop paying separately for hbo?
The New York Times is suing Perplexity, claiming the AI startup violated its copyrights and failed to stop using its content.
Co-Host/Tech Analyst
Despite repeated demands to do so over the past 18 months. Quoting well, the New York Times the.
Brian McCullough
Times said in its lawsuit that it had contacted Perplexity several times over the past 18 months, demanding that the startup stop using the publication's content until the two companies negotiated an agreement.
Co-Host/Tech Analyst
But Perplexity continued to use the Times material.
Brian McCullough
The suit, filed in federal court in New York, is the latest in a.
Co-Host/Tech Analyst
Growing legal battle between copyright holders and.
Brian McCullough
AI companies that includes more than 40 cases around the country. In August 2024, Dow Jones, owner of.
Co-Host/Tech Analyst
The Wall Street Journal, the New York.
Brian McCullough
Post and other publications made similar claims in another lawsuit against Perplexity. This suit is also the second that the Times has filed against AI companies. In December 2023, the Times sued OpenAI and its partner Microsoft, arguing that the companies train their AI systems using millions of articles published by the Times without offering compensation.
Co-Host/Tech Analyst
Microsoft and OpenAI, the maker of the chatbot ChatGPT, have disputed the claims.
Brian McCullough
This new suit accuses Perplexity of violating the Times copyrights in several ways, most notably when the startup's search engine retrieves information from a website or database and uses that information to generate a piece of text and to respond to queries from Internet users. That would not be fair use of the material, the suit claimed, because Perplexity.
Co-Host/Tech Analyst
Grabbed large chunks of the publication's content.
Brian McCullough
In some cases entire articles, and provided information that directly competed with what the.
Co-Host/Tech Analyst
Times offered its readers.
Brian McCullough
Perplexity provides commercial products to its own users that substitute for the Times without.
Co-Host/Tech Analyst
Permission or remuneration, the suit said.
Brian McCullough
The Times also accused Perplexity of damaging its brand. In some cases, the suit said, Perplexity search engine made up information what AI researchers called hallucination and falsely attributed that information to the Times.
Co-Host/Tech Analyst
Perplexity did not immediately respond to a request for comment. End quote.
Brian McCullough
The EU has fined x120 million euro for breaching online content rules, the first fine under the dsa, citing issues including the deceptive design of its blue checkmarks.
Co-Host/Tech Analyst
Quoting Reuters, the European Commission's tech chief.
Brian McCullough
Henna Verkunen said X's modest fine was proportionate and calculated based on the nature.
Co-Host/Tech Analyst
Of the infringements, their gravity in terms of affected EU users and their duration.
Brian McCullough
We are not here to impose the highest fines. We are here to make sure that.
Co-Host/Tech Analyst
Our digital legislation is enforced and if.
Brian McCullough
You comply with our rules, you don't.
Co-Host/Tech Analyst
Get the fine and it's as simple as that, she told reporters. I think it's very important to underline.
Brian McCullough
That DSA is having nothing to do.
Co-Host/Tech Analyst
With censorship, vir Kunin said. She said forthcoming decisions on companies which.
Brian McCullough
Have been charged with DSA violations are.
Co-Host/Tech Analyst
Expected to take a shorter time than the two years for the X case.
Brian McCullough
I'm really expecting that we will do.
Co-Host/Tech Analyst
The final decisions now, faster, she said. End quote.
Brian McCullough
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Co-Host/Tech Analyst
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Brian McCullough
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This is really starting to become concerning at this point if you're an Apple fan. Apple says general counsel Kate Adams and.
Co-Host/Tech Analyst
Policy chief Lisa Jackson will now retire and Jennifer Newsted, Meta's former chief legal officer, will replace at least Adams also.
Brian McCullough
A review of LinkedIn profiles shows dozens of Apple employees with expertise in audio.
Co-Host/Tech Analyst
Watch design, robotics and more left to join OpenAI in recent months. Quoting the journal Apple is facing a.
Brian McCullough
Wave of executive departures as the company continues a period of transition not only.
Co-Host/Tech Analyst
Among its leadership, but if rivals have their way for its business as well.
Brian McCullough
On Thursday, the company announced that its general counsel and head of policy will.
Co-Host/Tech Analyst
Both retire next year.
Brian McCullough
On Wednesday, a top designer left for Meta platforms. On Monday, Apple said its head of artificial intelligence strategy would retire, its chief operating officer announced his retirement in July, and its chief financial officer has transitioned.
Co-Host/Tech Analyst
To a new role. The executive departures underscore a changing of.
Brian McCullough
The guard underway at Apple, even if.
Co-Host/Tech Analyst
Chief Executive Officer Tim Cook himself isn't stepping down at this point, Cook and.
Brian McCullough
His new lieutenants face a critical test preparing Apple for the AI era and.
Co-Host/Tech Analyst
The wave of new competitive devices that result.
Brian McCullough
Further down the orbit, dozens of Apple employees have defected to OpenAI and Meta.
Co-Host/Tech Analyst
In recent months, part of a long.
Brian McCullough
Term brain drain that has robbed the.
Co-Host/Tech Analyst
Company of innovations and seeded rivals with.
Brian McCullough
Expertise they hope to use to dethrone.
Co-Host/Tech Analyst
The digital device king.
Brian McCullough
Dozens of Apple engineers and designers with expertise in audio watch design, robotics and more have decamped to OpenAI in recent.
Co-Host/Tech Analyst
Months, according to a review of LinkedIn profiles. End Quote.
Brian McCullough
According to SimilarWeb generative AI platforms were averaging around 7 billion monthly web visits as of September 2025, up 76% year on year, rivaling the traffic of major social networks. Quoting the decoder Mobile growth is even starker. Sessions in Genai apps increased fivefold and app downloads surged 778%. ChatGPT remains the primary driver of this expansion. OpenAI's platform grew from about 19 million monthly visits in 2022 to roughly 5.9 billion by September of 2025. This places the site among the world's five most visited websites, putting it in the same league as Instagram, which saw six and a half billion visits in September. Despite rising competition from Gemini, Claude and perplexity, ChatGPT still commands nearly 80% of global gen AI visits. Similarwebs data suggests chatbots aren't replacing traditional search just yet. Of the 462 million people who visited ChatGPT, 95% also use Google. The 441 million overlapping users suggest people switch between conversational AI and search engines depending on the task. Demographics are shifting as well. While 18 to 34 year olds remain the largest cohort, with 1.9 billion users 53% older groups are adopting the technology. Fastest users aged 45 and over now make up near nearly 30% of all visitors.
Co-Host/Tech Analyst
End Quote.
Brian McCullough
An alleged Google Insider has allegedly made $1 million on polymarket in the last 24 hours, quoting Forbes A poly market trader known as Alpha Raccoon has ignited controversy after allegedly netting over $1 million in 24 hours by placing suspiciously accurate bets on Google's 2025 Year in Search RA. The trader's near perfect record of 22 correct predictions out of 23 attempts has sparked accusations of insider trading, raising uncomfortable questions about prediction market integrity.
Co-Host/Tech Analyst
Just as Wall street money floods into.
Brian McCullough
The sector, the controversy centers on markets asking which personalities would rank highest in Google's annual search trends.
Co-Host/Tech Analyst
Alpha Raccoon placed large positions on obscure questions about search rankings for figures ranging.
Brian McCullough
From Pope Leo to Kendrick Lamar to Zoran Mamdani, achieving accuracy rates that strain statistical credibility. According to social media allegations Google accidentally published the year in search data early before quickly retracting it. But Alpha Raccoon had made his bets far before this had happened. Just a few months after Intercontinental Exchange invested $2 billion in the platform, valuing it at $8 billion, the company faces accusations that its markets can be systematically exploited by insiders with privileged information. The alleged scheme exposes a fundamental vulnerability in prediction markets that regulators have yet to address. Alpha Raccoon's portfolio tells a revealing story the trader holds 3.4 million in open positions across 92 predictions, with a suspiciously high concentration on Google related events in the year. In search markets, the trader placed substantial bets on highly specific outcomes, such as whether Bianca Censori would be the number.
Co-Host/Tech Analyst
One searchperson on Google this year, whether.
Brian McCullough
Pope Leo would rank in the top five, and whether D4VD would claim the top spot. The markets themselves were remarkably granular, asking not just about general trends but specific ranking positions. This level of detail and trade size makes random accuracy virtually impossible. Getting 22 out of 23 such predictions correct would be like correctly predicting not just the winner of 23 horse races, but the exact order of Finish down to fourth or fifth place in each race. This is also not Alpha Raccoon's first brush with suspiciously accurate Google predictions. In November 2025, the trader allegedly earned over $150,000 by correctly predicting the exact release date of Google's Gemini 3 model.
Co-Host/Tech Analyst
Predicting not just that a product would.
Brian McCullough
Launch in November, but the precise day it would be announced suggests access to.
Co-Host/Tech Analyst
Information beyond public speculation.
Brian McCullough
Here is where prediction markets diverge dramatically from traditional securities trading. If Alpha Raccoon worked at Google and traded on non public information about the company's the securities and Exchange Commission could pursue criminal insider trading charges. Penalties could include prison time, disgorgement of profits, and substantial fines. But prediction markets exist in a regulatory gray zone. The Commodity Futures Trading Commission regulates them as derivatives platforms rather than securities exchanges. Current CFTC rules do not explicitly address insider trading in prediction market contracts. The way SEC rules govern securities trading and the various platforms, options for addressing suspected insider trading remains limited. Unlike centralized sportsbooks that can void bets or close accounts at will, polymarket operates on blockchain infrastructure with smart contracts that execute automatically. Once positions are recorded on Polygon, the platform cannot simply reverse them without undermining the entire premise of decentralized prediction markets, polymarket could potentially limit Alpha Raccoon's access.
Co-Host/Tech Analyst
To the front end.
Brian McCullough
The platform could also implement know your customer requirements that might deter insiders from exploiting their positions. However, these measures conflict with the crypto native ethos that attracted many users to.
Co-Host/Tech Analyst
The platform in the first place.
Brian McCullough
Yeah, here's the thing. We should expect this to explode everywhere. How many times in your life have.
Co-Host/Tech Analyst
You just stumbled across information that a lot of people didn't know about before?
Brian McCullough
You only had to watch for inside trading on the stock market. Right now, you're going to have people.
Co-Host/Tech Analyst
Front running everything from what team a.
Brian McCullough
Soccer star is going to sign for.
Co-Host/Tech Analyst
To the announcement of your kids high school's valedictorian.
Brian McCullough
For the long reads this week I have three pieces from the same author about the same topic from three different angles. In the New York Times, Peter S. Goodman takes a look at how TSMC, intel and Amkor are transforming Phoenix into the US's chip hub, investing tens of billions of dollars and showing the difficult of large scale US chip projects. He looks at TSMC Village in North Phoenix as TSMC brings an influx of skilled workers from Taiwan who face challenges like adapting to sprawling American suburbia and how efforts to turn Phoenix into a US hub may hinge on training local workers. An estimated 115,000 local chip jobs are set to be created there in just four years.
No bonus episodes for you this weekend.
Co-Host/Tech Analyst
And yes ad free listeners.
Brian McCullough
I'm sorry I accidentally left an ad in your show yesterday.
Co-Host/Tech Analyst
Simple problem of uploading the wrong file. What can I say, it's been a rough week editing this show for Brian this week. Will endeavor to do better next week.
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Date: December 5, 2025
Host: Brian McCullough, Co-Host/Tech Analyst
Podcast: Tech Brew Ride Home
This episode dives into one of the biggest media deals of the decade—Netflix acquiring HBO and Warner Bros. Discovery (WBD) Studios. The hosts discuss dramatic industry shifts triggered by this merger, from Hollywood’s future power dynamics to regulation. They also unpack the New York Times' lawsuit against the AI startup Perplexity, significant executive departures at Apple, the EU’s first major DSA fine against X (formerly Twitter), surging generative AI usage, and a brewing insider trading controversy shaking the world of crypto prediction markets.
[02:01–06:43]
Deal Details:
Operational Impact:
Market Reactions & Quotes:
Regulatory & Cultural Notes:
Historic Industry Irony:
[07:07–08:57]
Details of the Lawsuit:
Notable Observation:
[09:09–10:03]
[12:19–13:50]
Leadership Announcements:
Big Picture:
[14:01–15:30]
Traffic Boom:
User Behavior:
[15:38–19:25]
The Controversy:
Mechanics & Regulatory Gaps:
Broader Implications:
[20:01–20:58]
On the Netflix/HBO deal:
On Prediction Market Risks:
As with all Tech Brew Ride Home episodes, the discussion blends straightforward news delivery, light—but sharp—industry wit, and clear concern for tech’s social and regulatory consequences. The hosts’ banter keeps things moving briskly while offering frequent asides and memorable references (the “Albanian army” moment, recurring jokes about subscription fatigue, etc.), making otherwise dense business news both accessible and engaging.
This episode brings listeners right to the heart of tech’s shifting landscape—mergers, legal battles, regulatory firsts, and the whirl of modern AI and crypto finance. Listeners are left with both the crucial facts and the broader, sometimes unsettling, context shaping tomorrow’s digital world.