01:46:30 · Jordi Hays, Gavin Baker, John Coogan
[01:46:30] S0: Yeah. Yeah. [01:46:31] S2: I'm excited. We're gonna have, you know, we're gonna have bysiders doing the fireside chats. We're gonna have... You know, management teams are gonna have the opportunity. We've... If you were an active contributor on X, Substack, Reddit, you get to come for free. Yeah. And then management teams are gonna be able to do a breakout session with all of those ex accounts. If you're you're one of the, you know, four or 500, you know, kind of, you know, financial commentators that we've given a scholarship to, you're gonna get, you know, a lot of management teams are gonna opt in and you're gonna be able to kinda have your own session with the management team to ask your questions, then you're gonna be able to go write what you learned for your audience. And I'm... You know, I think we have a really high quality, you know, I mean, I I I picked most of them. And you don't have to be bullish. You know, I want... You know, I love skeptics. I love bears. [01:47:29] S1: Yeah. [01:47:29] S2: You just you just have to be polite and nice and And you can be bearish while being polite, nice, and constructive and you know, we're... We have loads of we have loads of skeptics, we have loads of optimists. Like I think it's gonna be great and then I I hope every CEO does, you know, you know, kind of a hit on your show after they're on stage or before. [01:47:49] S0: Yeah. I'm pretty excited about Might be the longest TBPN episode ever. [01:47:54] S1: I think so. [01:47:55] S0: Let's see. [01:47:55] S1: Yeah. We... How do you deal
01:47:55 · John Coogan, Jordi Hays, Gavin Baker
[01:47:55] S1: Yeah. We... How do you deal [01:47:56] S0: with how how do you deal with all the all the attention, positive and negative? [01:48:04] S2: That mean me? [01:48:05] S0: Yeah. For you. For you. Oh, man. I just feel like I... You I... You you talked about your your mindset right at the beginning of the show. Just, know, you know, it's a choice to be happy. But I feel like when it comes... When the spotlight, you know, once every week shines directly on you. There's a lot of love, a little bit of hate. There's... Whole the full spectrum of human emotions.
01:48:29 · Gavin Baker
[01:48:29] S2: We we can call it what it is. I mean, there there there are a lot of there are lot detractors, let's say. I just say, Antonio, who I'm doing the conference with, he says being on x is an exercise in cultivated equanimity. I don't take any of it personally. I'm not on x to be right. Mhmm. I'm... Right now, I would, you know, I'm I'm a responsible optimist, but I'm trying to be open minded to new negative facts and constantly search them out. But I'm really on x, you know, to learn and I, you know, all of the hate, like I try to sift through it for, oh, wow, that is actually a very good compelling bearish argument. You know, like there was an interesting post. I forget it was like PE analyst or LBO analyst, and it just said, hey, you know, the fact that Anthropic is dedicating 74% of their compute to training, you could read it and on the one hand, it's bullish because they could be generating a lot more revenue. On the other hand, if all this compute is being dedicated towards training and for any reason, somebody decides you need less compute for training, that's a lot of supply that could hit the inference market and hey, wow, that's like a really interesting, you know, bearish perspective. And so, you know, I'm human. I don't... Like I'm human, but it's also just like I'm here to learn. I wanna get to the right answer. I'm sharing my views. If somebody shares a helpful negative perspective, I try to thank them. I need to go like think that person, LBO analyst I think it was. I didn't have time. But yeah, it's an exercise of cultivated equanimity. You can't can't take it personally.
01:50:18 · Jordi Hays, Gavin Baker, John Coogan
[01:50:18] S0: Yeah. [01:50:19] S2: But I do... I am trying, you know, doing what little I can, you know, has like Gavin Baker, you know, I don't have millions or tens of millions of followers. But I am trying to help paint, I think a more optimistic vision for AI doing what what I can to help the American public understand that, hey, like, you actually want a data center in your town. Know, one of my favorite exchanges was somebody said, well, I'll wait until they start building data centers in the wealthiest county in America. Well, Loudoun County is the wealthiest county in America. They have the highest per capita data centers. [01:50:59] S1: Yep. Virginia. US East. Yeah. Amazon.... US East available also.
01:50:59 · John Coogan, Gavin Baker, Jordi Hays
[01:50:59] S1: Yep. Virginia. US East. Yeah. Amazon.... US East available also. [01:51:05] S2: Yep. So just understanding that, like, I understand why, you know, some people are worried. There... There's been a lot of fear. There's, you know, there... We've all seen scary movies, but a lot of awesome things are happening today Yeah. Because of AI for ordinary Americans, for blue collar Americans, for these small towns. We're re industrializing America. We're, you know, massively increasing our electrical generation capacity, which is you cannot re industrialize without power. That's job number one. So I think a lot of good things are happening and I'm just trying to do what little I can to at least tell that side of the story and then be pretty balanced. Like, you know, Anthropic, I called it like I saw it in the summer. They were losing market share. Mhmm. I'm calling it like I see it in October. They are reaccelerating Yeah. And gaining share. Yeah. The s one, it was an upside surprise to me. Yep. I'm trying to call balls and strikes [01:52:03] S1: Sure. [01:52:03] S2: Because my job is to just get it right. [01:52:07] S1: Yeah. Jordan... [01:52:09] S0: And it's funny because, you know, people will get so flustered by, you know, seeing different posts on x. Sure. But imagine how boring x would be if no one ever took a stand. Oh, yeah. It was just like, well, it might be this. Yeah. [01:52:21] S1: It might be that. Yeah. Yeah. [01:52:22] S0: Yeah. And it might be this. [01:52:23] S1: No. No. Every post [01:52:24] S0: has be that.
01:52:24 · Jordi Hays, John Coogan, Gavin Baker
[01:52:24] S0: has be that. [01:52:25] S1: It's over or or we're back. This is the best thing ever in the world. Because then we can have a debate. At least you took a stand. Yes. Yeah. It's great. [01:52:31] S2: Yes. [01:52:31] S1: Jordy mentioned, getting sharp on bio, starting to think about opportunities there. How deep have you gone in the AI stack? I saw a a funny post that was like, you could spend all your time thinking about OpenAI and Anthropic and Google or... And then, you know, meet all the neo clouds and, meet Lynn and Tuan and figure out what's going on in the private markets, or you could just buy copper. And you could just sit there and hold copper. Right? Because, like Yeah. It's almost a perfect proxy or something like that. But how far have you gone down into energy infrastructure, commodities? Like, how how sharp are you on those? How how relevant or interesting is the... Are those markets to you, in this world since they do seem adjacent? [01:53:12] S2: No. I pay close attention to all of those. I ran a diversified fund in prior life for nine years. You know, I was an energy investor. Yeah. You know, natural resources. I always... Many years, did would do like kind of marketing meetings with the with the gold analyst at at at my my prior employer Fidelity. So I'd always, you know, knew about the merits of gold from a portfolio construction perspective would always have it in the fund. By the way, just because it triggers people, I wanna say it. I find it so amusing how upset gold bulls get at the idea of asteroid