00:57:40 · Jordi Hays, Apoorva Mehta
[00:57:40] S0: Sorry. The trillion dollar [00:57:42] S3: That's right. I mean, I love that. I love that sound effect. You know, five years... Five, six years, you know, hopefully, multi trillion dollar company, right? It's incredible. Incredible, right? So that was number one. Number two is it had to be beneficial to humanity, you know? Just like... I just care about that and just like something that I wanted to have happen in my next company. And with abundance, believe that, you know, I found that. But I guess like, probably, you know, what's even the coolest part is that... Is how fun it is, And now, we've thought a lot about hardware like you brought up. But I would say, you know, for us, I think we have other ways we build advantages. And we certainly do capital allocation in the public market but, you know, we also do that in, you know, other places where we believe we have, you know, much larger returns, much more durable returns, and, you know, and and much more impactful returns as well. And so, you [00:58:57] S0: I gonna say I was gonna say you're like, I wanted to do something that was just like good for the world and then you're launching a hedge fund, is like a contrarian, maybe contrarian, but it sounds like you're allocating places that you'll probably be able to talk more about in let's say like a couple years once you once you get a little more established. [00:59:15] S3: You don't think hedge funds are doing great... [00:59:18] S0: I do. I mean, we've been we've been some of the strongest defenders of private equity broadly.
00:59:18 · Jordi Hays, John Coogan, Apoorva Mehta, Alex Spiro
[00:59:18] S0: I do. I mean, we've been we've been some of the strongest defenders of private equity broadly. [00:59:25] S1: We need accurate prices in markets. Yes. Obviously. [00:59:28] S3: Yeah. Look, I agree. I think that there is certainly some, you know, efficiency and liquidity that you know, hedge funds add. But, you know, but, yes, I think you're right. Like, you know, we do think that capital allocation has, you know, a bigger part to play than just adding liquidity the market. And and that, I think, is just, you know... You know what's... So the coolest thing about AI is these new... These lines of how we thought about these businesses are going to completely change. [01:00:05] S1: Mhmm. [01:00:05] S3: Right? Like, you know, you you would see like, okay, like, this is a SaaS company that's just going do SaaS, SaaS, SaaS, SaaS. Right? Like, now, as we're thinking about outcomes, we're thinking about, you know, you know, new type of holding companies, etcetera. So I just think that, you know, the the lines are being redrawn with AI and and, you know, we we hope to to do that in in our own sector. [01:00:30] S0: I love it. Very cool. Congratulations. You certainly did it with with with Instacart in a Sit that goal. In a different way. Congratulations to the to the whole team. It's really a tremendous story and, yeah, very, very happy Overnight for your guys' outcome. [01:00:47] S1: A classic overnight success. We'd love [01:00:49] S2: to see... [01:00:49] S0: Come back on as you can as you can talk more about about what you're doing as well. Yeah. It's very cool.
01:00:49 · Jordi Hays, Apoorva Mehta, John Coogan, Alex Spiro, Derek Blasberg
[01:00:49] S0: Come back on as you can as you can talk more about about what you're doing as well. Yeah. It's very cool. [01:00:53] S3: Definitely. Awesome, guys. Thank you.... [01:00:55] S1: Dude. Have a good day. Cheers. Goodbye. Let me tell you about public. Invest across all asset classes. Automate anything with AI agents. Run trading strategies, risk management, money movements, and monitor markets with AI agents for... [01:01:06] S0: Was who you're trading against [01:01:08] S1: Yeah. [01:01:08] S0: Too. Take them [01:01:11] S1: to the cleaners or play it safe. Do whatever you want. We have Alex Spiro from Quinn Emanuel coming on the show. Welcome to the show, Alex. How are you doing? [01:01:22] S2: Good, man. How are you? [01:01:23] S0: What's Long going [01:01:24] S1: overdue. Sorry for taking so long to make this happen. [01:01:29] S0: Are these... What's behind you? Are these the ghosts of your enemies? [01:01:33] S2: Nobody... Exactly. These are these are people that used to exist. [01:01:37] S1: Yeah. They're gone. [01:01:41] S0: Great to have you on the show. We're big Quinn Emanuel fans. Huge. Love hanging out with John. Yeah. We we'd have him on every day if we could. Yeah. I think I think he enjoys it too. [01:01:50] S4: He needs [01:01:51] S2: somewhere to go, so you guys should [01:01:53] S0: be there. Yeah. We keep him we keep him busy. Yeah. [01:01:56] S1: We're we're close by here. Pasadena is just thirty minutes away or something. So he can just he can [01:02:00] S2: Exactly just hop
01:02:00 · Alex Spiro, John Coogan, Jordi Hays
[01:02:00] S2: Exactly just hop [01:02:01] S1: right. Are you busier this year than in previous years? Or is it pretty steady state? [01:02:07] S2: It's a pretty steady state. I I change what I focus on and Yeah. You know, toggle up and toggle down, but it's pretty steady state. [01:02:14] S1: Yeah. How how has AI helped [01:02:16] S0: or hurt So this I don't think Alex needs an introduction Okay. For for some people Yeah. But it would be great if you could introduce yourself and and your role in the firm and and history before we get into the good Yeah. [01:02:29] S2: Well, don't know about my role in history. It's it's to be written. Yeah. But I'm a lawyer. I used to be a prosecutor and Mhmm. Try all sorts of cases. I don't really have a discipline or subject matter. And I advise a lot of founders and interesting people on stuff related to law and business and Mhmm. And do things in the business world too [01:02:49] S1: Yeah. [01:02:49] S2: Which I'm doing more of. But that's that's sort of how I break down my time. [01:02:54] S1: How is working with... I mean, you've worked with a ton of high profile individuals, Elon Musk, Jay Z, many others. How is it different working or fighting a case actually going to trial with a high profile person who the jury can't just, you know, tabula rasa on?
01:02:54 · John Coogan, Alex Spiro
[01:02:54] S1: How is working with... I mean, you've worked with a ton of high profile individuals, Elon Musk, Jay Z, many others. How is it different working or fighting a case actually going to trial with a high profile person who the jury can't just, you know, tabula rasa on? [01:03:13] S2: It just becomes more complicated and more three-dimensional the world is watching, people have preconceived notions. Because the other side is more excitable, more blinded in their pursuit. Sure. Confused by the the fame and the bright lights. Yeah. And so it just has more dimensions and more more sort of play to work with. [01:03:38] S1: Yeah. How does how does the strategy outside of the courtroom play into some of these high profile cases with individuals who are going to have to hop on an earnings call or they're going to have to do an interview for whatever their business is like the the court case might go on for a long time, but they have to continue doing what they're doing in the real world. How do you how do you square those two, the risk and reward of continuing business as usual that might flow over to the actual case? [01:04:07] S2: Their legacy and their story and that of the companies and their missions is far bigger than the case. Sure. And so many people go through trials and tribulations [01:04:17] S1: Yeah.
01:04:17 · John Coogan, Alex Spiro, Jordi Hays
[01:04:17] S1: Yeah. [01:04:18] S2: And they happen in private or they happen outside of the the public sphere. When these kind of folks go through this, it impacts every element of their business lives, their employees Yeah. Their legacies and beyond. Yeah. And so you just have to be cognizant of that and you have to paint a picture that takes into account those things and thinks again in sort of three-dimensional and in chapters that would go forward. So I will prep them for speeches and earnings calls and if they have to go in front of Congress or anywhere else in order to sort of assess all of the different business elements, everything going on with them, the case and try to marry them all together to tell a coherent story. [01:05:00] S1: Do you do you have a team that can prep people for going to congress? It feels like [01:05:05] S0: there's gonna be a lot of... [01:05:06] S1: There's gonna be a lot of for that. I mean, you know, with the with the election results, it feels like we've been overdue for the AI safety debate to make its way into congressional hearings and it feels like there's gonna be people on Capitol Hill soon. [01:05:18] S2: There will... There certainly will be. You know, and I've represented people in front of congress many times before and I have no doubt that'll happen again. In fact, it'd shock me if it doesn't. But that's part of our system. I've always been a bigger fan of the jury trial system than the political theater system. [01:05:39] S0: Sure. [01:05:39] S2: But sometimes I have to go there too. Yeah. If I have to go, I will go.