01:48:11 · Jordi Hays, Tyler, John Coogan, Will Manidis
[01:48:11] S0: the call? [01:48:12] S2: I like, yeah, take the call. It's fine. It's like, I'm not doing anything other than podcasting. So somebody else is gonna have to build Founders Disneyland. Okay. Or you know, that Mecca, know, everybody going to the to to... I do wonder what like our generation's version of the Berkshire shareholder meeting will be. Sure. [01:48:29] S0: Yeah. The TBPN shareholders meeting. [01:48:32] S1: Yeah. We've been thinking about that. That might be good. [01:48:34] S0: Yeah. We we've we've been thinking about a conference just for shareholders that's hosted annually. [01:48:39] S1: Yeah. [01:48:40] S2: I mean, if you think about what they did [01:48:42] S3: up there, they they [01:48:42] S2: basically were live streamers for a day. Just like... And you guys already mastered this craft. Like, couldn't you do that? Yeah. We can definitely do [01:48:48] S1: come with them actually. Tons. [01:48:50] S0: Most mostly in the the sort of looks part. [01:48:57] S2: That's hilarious. [01:48:58] S1: It's great. Well, have a... [01:49:00] S0: Sorry to interrupt your your day. We know you gotta get back to your own podcast. [01:49:05] S2: This is... I I feel really bad. My phone's always on D and D and I don't have any... I think I had one thing on my calendar this week, the whole week. So you guys know I don't use calendar and my phone's on D and D and I'm like, fuck. I looked at my text message and Dylan... You... And Dylan's like, yo, where are you? Yeah. Classic.
01:49:05 · Tyler, John Coogan, Jordi Hays
[01:49:05] S2: This is... I I feel really bad. My phone's always on D and D and I don't have any... I think I had one thing on my calendar this week, the whole week. So you guys know I don't use calendar and my phone's on D and D and I'm like, fuck. I looked at my text message and Dylan... You... And Dylan's like, yo, where are you? Yeah. Classic. [01:49:22] S1: You gotta trust the process for sure. Well, thanks so much for coming on the show. [01:49:26] S0: Great to [01:49:26] S2: see Love you guys. [01:49:27] S1: Enjoy the... Excited to do [01:49:29] S0: your show soon. Love you. [01:49:30] S1: Have a good one. [01:49:30] S2: Yeah. Let's do it like next week. [01:49:33] S0: Goodbye. You're the man.
01:49:33 · Jordi Hays, John Coogan, Will Manidis
[01:49:33] S0: Goodbye. You're the man. [01:49:34] S1: Let me tell you about console. Console built AI agents that automate 70% IT, HR and finance support, giving employees instant resolution for access requests and password resets. Reddit is down. You saw this? Reddit's selling off. I think Will mentioned it. The the quotes from the earnings call are a little rough. Google is crawling us as hard as ever. The reality is AI mode does not drive traffic. So people go, they used to just say, site Reddit, click on the Reddit, click... See some of those ads over there. Now, people are getting the answer directly in AI mode. Not for us and not to anybody as far as I know, so traffic is way down. Used to be a traffic driver, now it's not. People still want Reddit. It's just Google is not sending them to Reddit the way they used to. Huffman says Reddit isn't counting on Google traffic returning. We don't control Google. We only control Reddit. And so they're going log in only. You can only use the service if you're logged in. So they're putting up a paywall basically or so [01:50:35] S0: It's a social network. [01:50:36] S1: Yeah. Registration wall. Yeah. It's a social network which It's [01:50:39] S3: probably an intranet. [01:50:39] S1: The the natural form of this. Also, Salesforce bought Rune Technologies. [01:50:45] S0: Yeah. This is cool. We've had Rune on the show before. Seemed like a smart [01:50:48] S1: business.... For this one? [01:50:50] S0: Munger Gong. [01:50:51] S1: Munger Gong. The Munger nator.
01:50:51 · John Coogan, Jordi Hays
[01:50:51] S1: Munger Gong. The Munger nator. [01:50:58] S0: Oh, great stuff. Great stuff. Oh. But, yeah, it seems like it was a fantastic outcome for the Rune team. [01:51:05] S1: Yeah. Very excited. [01:51:06] S0: Yeah. And, I can see how it makes sense in Salesforce's business. Yeah. You know, Benioff and Karp have this incredible tension. And, and... Yeah. Looks like Salesforce wants to try to eat more of their lunch. [01:51:22] S1: We'll see [01:51:23] S0: how that goes. The account odd stats has some odd stats for us today. Mhmm. [01:51:30] S1: Give it to us. What you got? [01:51:32] S0: Odd stats says, for absolutely no reason whatsoever, here's the list of every time in QQQ history where it gapped down two and a half percent or worse on a Friday. It's currently down almost three and a half percent following a negative 1% day and it happened three times in 2001. Once in June 2002. October 2008. Twice at the beginning of COVID. And then Liberation Day, and possibly today. And of course, that has turned out to be the case. And, yeah. Crazy, crazy day in the markets. [01:52:11] S1: Yeah. You gotta have a margin of safety in this time. [01:52:15] S0: I think so. [01:52:15] S1: Yeah. Never been a better time to go brush up on your your Buffett and Munger, understand the greats. [01:52:22] S0: Yeah. When your favorite holding period is forever, it tastes like today. [01:52:26] S1: Not really that scary. When you're in the value investor mode. [01:52:29] S0: Yeah. [01:52:29] S1: Buy something that has cash flow, has value.
01:52:29 · John Coogan, Jordi Hays, Tyler
[01:52:29] S1: Buy something that has cash flow, has value. [01:52:33] S0: Yeah. Price is what you pay, value is what you get. Exactly. [01:52:36] S1: Couldn't have said it better myself. Yeah. Fantastic. [01:52:40] S0: I think that's our show. [01:52:41] S1: I I I think Chad was asking for a Greg Abel money spread. We wanted to see if Greg Abel was breached and in fact, [01:52:47] S0: he is. [01:52:47] S2: Looks like he is. [01:52:48] S1: You've never seen a Greg Abel money spread, but now you have. We got Ten months into the job. Breached. Thoroughly breached. Oh. Let me tell you about Cisco. Critical infrastructure for the mumbo jumbo era. Unlock seamless real time experiences of new value with Cisco. Well, seamless experiences for the AI era, first and foremost tech show, but we like to imagine the the... [01:53:17] S0: You said mumbo jumbo, but, you know what, Charlie once said? [01:53:21] S1: What'd he say? [01:53:22] S0: You got to have models in your head. So I think what he meant like that, he was traveling to the future Large language saying like, exfiltrate the weights Sure. Upload memorize them. Yep. Distill them. Distill them [01:53:33] S1: To yourself. [01:53:34] S0: Down into something that you can use yourself Yeah. And deploy them. [01:53:38] S1: That makes sense. Should we check-in... The pumpkin harvest.... Contest. [01:53:42] S2: Who wins? We have three pumpkins. [01:53:45] S1: Okay. What do you got? [01:53:46] S2: I'll I'll showcase mine first Brendan can get in with his. Yes. So I have a heart here with c and w Okay. For Charlie and Warren.
01:53:46 · Tyler, John Coogan, Jordi Hays, Will Manidis
[01:53:46] S2: I'll I'll showcase mine first Brendan can get in with his. Yes. So I have a heart here with c and w Okay. For Charlie and Warren. [01:53:53] S1: Love it. [01:53:53] S2: You can see that [01:53:54] S1: over there. That's very cute. That's That's decades in the making. I think this one's supposed to say TBPN. [01:54:01] S0: Pretty... Is that like covered in mold? What's going [01:54:03] S1: on there? Yeah. What happened on the side of that pumpkin? [01:54:06] S2: You got a different ankle. [01:54:07] S1: Okay. A rough on that one. [01:54:09] S2: Have to disqualify that pumpkin. That looks a [01:54:11] S0: little succulent. [01:54:12] S1: Up to the top. Yeah. And then the last one, the Christmas tree pumpkin because of course, we're only [01:54:18] S2: There we go. [01:54:19] S1: Three years away. That is perfect. [01:54:21] S0: You guys you guys both win incredible work with the moldy pumpkins. [01:54:26] S1: Yeah. You guys did good job. [01:54:27] S0: Yeah. What a show. What a show. Yeah. Good show. I... Yeah. The last thing I would say is is, you know, we've been joking around today but I think Buffett and Munger are two of the greatest role models Truly. That the business community could ever have. Yeah. And as as much fun as we're having, we we we know, wanted to honor them. A 100%. In our own little TBPN way. [01:54:51] S3: A 100%. [01:54:52] S0: We hope you enjoyed it. [01:54:53] S1: So go grab a Coca Cola, go grab some C's candy, enjoy yourself this...