00:42:34 · Jordi Hays, John Coogan
[00:42:34] S1: So what's your takeaway? You think he wants to scratch two itches at once? [00:42:39] S0: Yeah. I mean, he... I I I do think he cares about the billionaire tax, and I do think that it's completely rational to get out of California before it hits. And I'm surprised that this is even a discussion. I thought that the reason he bought that Florida home was that he was going to claim residency outside of California as of 2026. It seems like this was mostly going over throughout the year. But if the tax passed, it would be retroactive. He would still be on the hook for it, but at least he could challenge it in court. But it's funny because Yeah. Would bad when it... [00:43:07] S1: It would be litigated and then during that time, he would leave and so that you would have this, like, worst case scenario, that one time 5% versus... [00:43:16] S0: But the interesting thing is that, like, the Google co founders have done the exact same thing. They've done a stock split and they've maintained control, voting control while relocating to Florida, avoiding the billionaire tax potentially. But the the... No one really cares because Sundar is the face of the company. The interesting thing is, like, the board... The the way the New York Times frames it is, like, the board wanted Zuck not to sell his Palo Alto home because it would be a negative signal to the employees. No. No. Not the fake reason I was joking about. [00:43:47] S1: No. No. No. [00:43:48] S0: What are you laughing at? [00:43:49] S1: I'm just laughing at Trey. He wants both birds in the bush to be in his hands.
00:43:49 · Jordi Hays, John Coogan
[00:43:49] S1: I'm just laughing at Trey. He wants both birds in the bush to be in his hands. [00:43:54] S0: Yes. But but as... Let's say you're a board member. Do you care if Mark Zuckerberg can't spend more than a hundred and eighty days a year in the headquarters where all the researchers are, where where they're building MSL, where they're, you know, building Muse? Does he need to be on-site? [00:44:14] S1: I think I think he has to just wanna be. Like, he is he's the only... Not the only. One of a very, very small group of people running a company at that scale that is truly in founder mode. Yeah. No founder. In the arena. No elite founder that I've ever met says, yeah, I love working remotely. I love being away from my team for half the year. [00:44:36] S0: And he probably travels a ton. [00:44:37] S1: So it's much more like the board is probably like, yeah, kind of do whatever you want. Yeah. Like, live wherever you want. But you can imagine he's the one being like, I wanna be in the office as many days as possible with the team. [00:44:50] S0: That was not the NYT report. The NYT report was that he wants to avoid getting diluted past 50%, losing control of the company because he has to spend a hundred and eighty six days a year in Florida and can't be on-site in Menlo that often and would have to be more remote. And he's like, look, if it's between being in the arena in the in the Menlo office a ton and losing control because of this tax, I'm choosing I'm choosing Florida. [00:45:19] S1: 30 five. Yeah. Mister Worldwide.
00:45:19 · Jordi Hays, John Coogan
[00:45:19] S1: 30 five. Yeah. Mister Worldwide. [00:45:21] S0: He's being Mister Worldwide potentially. That was at least the that was at least the debate, the way it was put to the board, and now it's a nonissue because they are gonna issue the class c stock. So if he does get hit with a 5% tax, he'll sell the economic stake, not the controlling stake, and he'll be able to stay in TBD Labs in the building. I don't know why you're watching, but it's interesting because both of these both these rationales are completely justifiable from, like, the PT lens of framing, which is, like, of course, leave California if they're gonna taxi you and you can just go to Florida. And then also, like, of course, issue a bunch of equity if you have a really... If there's a new technology that you can actually Make invest [00:46:02] S1: an omelet without breaking a few eggs.
00:46:02 · Jordi Hays, John Coogan, Kevin Weil
[00:46:02] S1: an omelet without breaking a few eggs. [00:46:04] S0: Yes, Jordy. Yes. Without issuing some new equity. But this is the critique of Google. They have a a $100,000,000,000 in cash. They don't they don't spend it. They're just returning it to investors. The... They are stagnated. They're out of ideas. Now we're in the era of... There's tons of new ideas. There's tons of new ways to deploy capital at a high rate of return, go and invest. There's a debate over Meta's ROI on AI CapEx. But like at least the company is thinking, like, let's go big. Let's not be the stagnation company and let's not just buy back our stock and pay out cash to shareholders. Let's go pursue the next great thing. Let's go try and do something bold. And so both of these stories are framed. At least a lot of people are, oh, it's bad, but I see them both as, yeah, totally rational and very good for a leader to be doing that in tech. Anyway, we have But our next guest first, let me tell you about Console. Console builds AI agents that automate 70% of IT, HR, and finance support, giving employees instant resolution for access requests and password resets. We have Kevin Williams, the founder of Warp Sciences... Launching Warp Sciences. Get that going, Greg. Kevin, how are you doing? [00:47:13] S6: Hey, guys. Welcome back. See you again. [00:47:15] S0: Good to see you again. It's been far too long. Everyone's been [00:47:18] S6: too long. Congratulations. We've been busy. [00:47:21] S1: Yeah. Yeah. Seems like it. Cooking.
00:47:21 · Jordi Hays, John Coogan, Kevin Weil, Brian Manning
[00:47:21] S1: Yeah. Yeah. Seems like it. Cooking. [00:47:24] S0: Huge acceleration. Talk about the the vision, the mission of the company, what you're building, and introduce the company to us. [00:47:33] S6: Yeah. I'd love to. So Warped uses AI and robotics to help the world discover new medicines faster. [00:47:39] S4: Okay. [00:47:39] S6: Right? We're building robotic labs to do science at scale, and we're doing it here in America. There are two big things that we believe. [00:47:47] S4: Yeah. [00:47:47] S6: The first is that robotics robotics and robotic labs are gonna accelerate science. [00:47:51] S1: Mhmm. [00:47:51] S6: Probably because you can just run more experiments when you have labs operating twenty four seven, but also because these kind of labs can generate data at huge scale to train amazing AI models for science. The second thing, we need to reshor scientific capabilities from China so that we don't lose our pharma industry the way that we did solar, drones, and manufacturing. [00:48:13] S0: Yep. [00:48:14] S6: And there's one solution to both of these things, which is we are building a next generation preclinical CRO, a contract research organization. We're doing it here in America. It means we don't develop drugs of our own. We're building the infrastructure for everybody else who does so that they can go faster.
00:48:14 · Kevin Weil, Jordi Hays
[00:48:14] S6: And there's one solution to both of these things, which is we are building a next generation preclinical CRO, a contract research organization. We're doing it here in America. It means we don't develop drugs of our own. We're building the infrastructure for everybody else who does so that they can go faster. [00:48:30] S1: Yep. What's what's happening... Like, over the last year, I I I heard some number about how how much, like, US and and and sort of allied pharma companies and allied countries are are spending on, like Chinese licensing, Chinese, like pharmaceutical advancements. Like, what what more can you share on that front? Just how much of like the drugs coming down our pipelines were actually made outside of the country?