00:21:21 · John Coogan, Jordi Hays
[00:21:21] S0: Stay out of it. Stay out of it. Yes. Don't. But but but I would imagine that someone who is not an insider but has a deep understanding of the market. Like, if you if you aren't on the Anthropic IPO, maybe you're a retired investment banker, but you've taken tech companies public. Like, you were [00:21:37] S1: at Morgan Stanley during 2000 So on November 3 Yeah. At 6PM Mhmm. The market was saying 88% chance of an IPO Mhmm. Before December 1. Mhmm. And now Is [00:21:51] S0: it 60 something? 61. 61. Wow. Down That's a lot. [00:21:56] S1: Yeah. Over 20%. [00:21:58] S0: So that could just be, like, vibes based, you know, people trading the market, but it also could be, you know, a retired hedge fund guy or a retired investment banker who really understands the likelihood, how the likelihood changes as a function of the overall market. And and they could be talking to public markets investors who are giving them insight in in in information Yeah. But are able to educate them about liquidity, generally. [00:22:25] S1: Yeah. The interesting thing is there's a world where some institutions, like more institutional investors, larger investors [00:22:33] S0: Mhmm.
00:22:33 · John Coogan, Jordi Hays
[00:22:33] S0: Mhmm. [00:22:34] S1: Get a bit more skittish because they're looking at their book and seeing, you know, massive losses Yeah. Or at least paper losses, and retail got... Being able to get a lot more exposure. I think, like, for better or worse, retail is gonna be able to invest, like, more in this IPO than in than in many of the of of the of the IPOs in the last, you know, year or so, just because it seems like if the price is right, there's unlimited demand Yeah. For capital. [00:23:05] S0: It's interesting. Like, the all out blitz on marketing from OpenAI and Anthropic across social media and influencers and whatnot, like, awareness is way higher than with a Neocloud or a SaaS company. There's a lot of people that hate it. I don't know if they're retail investors. But there's certainly more awareness, but you don't have the cult of Elon with either Sam or Dario, to be true. Yeah. Right? You have people that are maybe intimidated or maybe, like, cautiously optimistic, but you don't have people that are like, ride or die. Like, we're going to Mars. I got the Yeah. I got the the Cybertruck. [00:23:41] S1: Well, you get that because you had a bunch of people invest in Tesla at what, sub $10,000,000,000 market cap.
00:23:47 · John Coogan
[00:23:47] S0: Totally. They've made they've made money with him before. Yeah. Yeah. One last thing from Jim Cramer. He says, data center locations. He says, these are what I'm concerned about. He's looking at IREN. They have three in Texas. CoreWeave has four in Texas, one in Ohio. They do have, plenty of others. Some in Sweden, some in Canada, some in India. Nebius, does... Has lower Texas exposure. And so, people are worried about what will happen to these if they're still building capacity, still getting approvals. I'm sure all the analysts are really digging into the exact sites, where they are, how many permits. Will they be subject to a pause? Will they be subject to, a renegotiation there? It does feel like there's there's already been... I saw some messaging from OpenAI around, like, power protection program v two, how you actually interact and make sure that power... Electricity rates don't go up, like, concretizing the the water usage more. And so all of this will just be more and more. But there are there are plenty of examples of, like, the data centers, like, going well. There's an interesting debate between Chris Mims and, over at the Wall Street Journal and Mike Isaac over at the Atlantic around the, around the difference... The different takeaways. Before we get into this, let me tell you about CrowdStrike. Your business is AI. Their business is securing it. CrowdStrike secures AI and stops breaches. So let me see if I can actually find it because my guys have said, like, okay. Based on everything that's happening, it looks like the only the only takeaway is peep... Like, tech people will take away that it's just a messaging problem. And it says voters are very pessimistic on AI. The majority of voters say AI will do more to hurt society. Only a quarter will say it will help. And some of these some of these polls are like, they they they niche them down. So they first ask you, like, are you voting based on AI? And, like, 10 people say, like, yeah. That's my issue. Where a lot of people say, like, gas prices or, like, geopolitical conflict. Right? But then within those, they say, okay. Are you voting on AI? Then do... Are you optimistic, pessimistic, etcetera?
00:25:55 · John Coogan, Jordi Hays
My guys, like, rat king says, my guess is the primary thing the tech industry will take away from this data is that it's a messaging problem because what else can we do when the majority of voters say what you are building is bad for society? Genuine philosophical question. I think the answer is a lot of what, Chris Mims was saying, which is, he say... He actually posted this a long time ago, so he resurfaced it. He said, practically no one read this when I published it a couple months ago, but I'm going to immodestly propose that everyone who wants to build a data center or whose livelihoods depend on them getting built should read it now. Big tech can build data centers people won't hate. We've been through some [00:26:37] S1: of these, you know, sound and water and power. My point was like, make it make it have a concrete positive impact on the local Yeah. Lives of the people in the local community. Yeah. Even if it comes down to like, we're gonna pay you [00:26:50] S0: Yeah. [00:26:51] S1: You know, $500 a month. [00:26:52] S0: Yeah. I mean, the AWS playbook is right there for the taking. Like, people in Virginia, very happy, very wealthy. It's done very well. But in the sprint, everyone was like, we gotta throw out that playbook. You Because even remember like Meta was building data centers in tents. Like, and and instead of instead of traditional buildings. And like, I don't know if that actually has an effect on how much water you're using or how much power you're using. Of course, Natural building gas. [00:27:18] S1: Scraps in a cave. [00:27:19] S0: Scraps in a cave
00:27:19 · John Coogan, Jordi Hays, S2
[00:27:19] S0: Scraps in a cave [00:27:20] S1: outside of Memphis. Yeah. [00:27:22] S0: And so you you you can easily see that it's like, okay, when speed is the most important thing, then yeah, maybe you're gonna tick off the local population a little bit more because you're not taking the extra step to think about, okay, what color should it be? Or like, how noisy should it be? All these things. And then there's a lot of retrofits that people are unhappy with. There are some other stories. The big one... [00:27:44] S1: We gotta talk about Please. We gotta talk about Strauss. [00:27:47] S0: Strauss. Okay. Pull up this video from Strauss Zelnick. First, I'm gonna tell you about Cisco, critical infrastructure for the AI era, unlock seamless real time experiences and new value with Cisco. And then we're gonna go over to Take-two CEO, Strauss Zelnick, who sat down with The Wall Street Journal to discuss the launch of GTA six. Let's play it. [00:28:07] S2: Is there a concern? I mean, I I've... I think there is a concern that this is your big hit and that you don't have enough hits in your library. Can you... I mean, can you... How do you, like, knock that down?
00:28:07 · S2, Strauss Zelnick, John Coogan, Jordi Hays
[00:28:07] S2: Is there a concern? I mean, I I've... I think there is a concern that this is your big hit and that you don't have enough hits in your library. Can you... I mean, can you... How do you, like, knock that down? [00:28:22] S3: Well, look. We have 15 franchises that have each sold at least 5,000,000 units in an individual release. I think we have the best collection of owned intellectual property in the video game business, and I think that's reflected in our top line, our bottom line, and our market cap. So I guess the way I respond to it is, like, examine the fact. I don't I don't know. I'm... Look. We'd have an addition to Grand Theft Auto. We have Red Dead Redemption, a massive title. It sold over 65,000,000. It's in the most recent release. Red Dead Online, Grand Theft Auto Online. We have NBA two k, which is the second biggest sports title worldwide, but the biggest in North America. And build WWE two k, Bioshock Borderlands Civilization, and then on the mobile side, we're friends on Fox. [00:29:09] S0: Forgot about Bioshock. Right? That's a great series. [00:29:11] S3: Hundreds of other titles. [00:29:12] S1: Borderlands is a good Pretty good story. [00:29:14] S0: That's great. That's funny. I I didn't know that you were gonna pull up this clip. I saw a different one of him talking about artificial intelligence and just, like, the question of, like, how is Take-two embracing AI or not? [00:29:25] S1: Yeah.