OpenAI restored GPT-4o under a legacy menu after users protested its removal, a reversal that hosts say could cost roughly $200m in monthly recurring revenue if paying users leave.
Jeff Bezos is launching Project Prometheus as co-CEO with Vik Bajaj, an AI startup reportedly raising $6.2bn for engineering and manufacturing in computers, aerospace and automobiles.
Yann LeCun argues in a Wall Street Journal profile that large language models will not lead to AGI, a view the hosts contest given his forty-year record.
Jeff Bezos Co-Leads New $6.2 Billion AI Startup Prometheus
Funding and deals
Project Prometheus. Jeff Bezos co-leads this AI startup for engineering and manufacturing, which reportedly raised $6.2bn, partly from Bezos himself.
Ramp. The corporate payments and expense management company raised $300m at a $32bn valuation in a round led by Lightspeed.
Chaos Industries. The defense technology company building radar products raised $500m in a round led by Valor Equity Partners.
Bending Spoons. Bending Spoons, valued at about $11bn, agreed to acquire AOL, which has over 30m monthly users, in a deal not yet closed.
Guest interviews
Eric Glyman, CEO of Ramp. Glyman argues AI makes spending decisions more automatic, and he cites an MIT study finding 95% of enterprise AI deployments create no return. He says $1 in savings equals $12 in revenue at an 8% margin. Ramp's engineers ship about 50% more code than four or five months ago.
Stacy Rasgon, Managing Director and Senior Analyst at Bernstein Research. Rasgon sees Nvidia demand as strong, with $500bn in cumulative Blackwell and Rubin orders. He says OpenAI's chip projects with Broadcom, Nvidia and AMD do not ship until 2026, and he questions the financing circularity among Nvidia, OpenAI and CoreWeave.
Reed Duchscher, Founder of Knight. Duchscher says YouTube would rather have 10,000 creators with 5m subscribers each than 100 with 100m. He says Twitch is somewhat ignored inside Amazon, and the average viewer watches 70 to 80% of a seventeen-minute MrBeast video.
Luca Ferrari, Co-founder and CEO of Bending Spoons. Ferrari puts the overall digital technology market at about $2tn. His M&A team has only eight or nine people, and about 50 people would study a 1,000-person acquired company.
John Tennant, Founder of Chaos Industries. Tennant says monolithic Patriot-style radar systems can take two and a half to three years to get. He says Chaos systems have been tested on the front lines in Ukraine.
News
OpenAI restored GPT-4o after user protests. OpenAI brought the model back a day after releasing GPT-5. Jordi Hays cites about 800m weekly ChatGPT users, 20m of them paying, while John Coogan doubts the protest is large.
Blue Owl blocks redemptions in a merging fund. Investors in the roughly $1bn fund, being merged into the $17bn OBDC fund, could lose about 20%. Blue Owl stock fell 16% over the past month.
Morgan Stanley estimates big tech will spend nearly $3tn on AI through 2028. David Einhorn warns that big tech has huge financial incentives to believe in AI spending.
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On this episode 11
Show 1
Big tech AI spending draws bubble warnings.
Situational Awareness buys $500m of CoreWeave. Leopold Aschenbrenner's fund disclosed the new position in its Q3 2025 13F, and it generated about $700m in appreciation. CoreWeave has a market capitalization of about $36bn.
Apple reportedly plans for Tim Cook's succession. The Financial Times reports hardware chief John Ternus is widely seen as the likeliest successor to Cook.