The Pomp Podcast
00:30:17 · Anthony Pompliano
[00:30:17] S1: Okay. If that is true, you mentioned earlier the commentary that AGI being winner take all or Google saying, we'll spend whatever. I'll bankrupt the company to win this. Do you think it is winner take all? And should every company take that position of it is worth every dollar of spending even if it literally bankrupts the company for them to win?
00:30:38 · Jordi Visser
[00:30:38] S3: I think that is the one thing that's happened that no one has talked about. I... Of all the podcasts I've listened to with with Jensen, I like when I can do everyone's names by their first name, Elon, Brad, Gavin, go through the list. No one has said there's one winner, and the reason has been the physical hardware side. You need to have the physical hardware. So this is where the issue comes in because what are now the government saying? We're not gonna allow there to be one winner. Like, we're gonna be monitoring this whole situation, and if someone gets too big and too powerful, we're gonna get involved. So there's not even allowed to be one. Now I know I've said on on on our weekly talks, but I've said it on my podcast, I've said it with other people that if you don't think the government's gonna get involved as this thing gets more dangerous, you're out of your mind. And we're at that stage now. The government is more involved today than it was a year ago with AI because we've reached levels of cyber that are extreme risk. You hear this repeatedly, we had the Binance thing, which seems like a distant memory, but the Binance thing is a real risk for every single business. I know CZ talked about if you're worried about applications in crypto, you should be extremely worried about bank accounts. I think this is gonna be an issue, and maybe it's not a US issue, maybe it's a foreign one. I think bioterror, I think all of these things are things that people have heard about that are gonna be issues. So, again, I'm gonna say it, I think there were a lot of thoughts going into AI which have been proven extremely wrong, and I think the one thing that is happening is progress is moving faster than humans can handle it, And those humans are government, those humans are the companies that have lots of people. When Microsoft says they're gonna get... Offer buyouts to 27% of their employees, how is that not like a major warning sign that we have reached a level where this has never happened before and they're offering for 27% of the people in the company to go? This is a very kind of dystopian time that's only gonna get worse going forward.
00:32:40 · Anthony Pompliano
[00:32:40] S1: Now as we see headwinds, chaos, uncertainty, we saw Marvell do a big acquisition this week, and that seems to have caught a lot of people's attention. Is that a defensive acquisition? Is that an offensive acquisition? How do you look at consolidation? You know, whenever you get a lot of investment going on and then you start to get these drawdowns, usually, you see some sort of consolidation, but a lot these companies are pretty big. Mean, this was a 100 plus billion dollar acquisition. That's not like, you know, you wake up on Wednesday and decide, hey, let's go do that. There's a lot of work that goes into it. How do you view something like that?
00:33:14 · Jordi Visser, Anthony Pompliano
[00:33:14] S3: Well, first thing, it was a very big consolidation in my own personal portfolio. Not in a good way either. So first of all, they weren't buying necessarily a competitor, were buying a different part of the stack. And I, you know, I said it on mine, I don't know if we talked about it last week, but I had a lot of people reach out to me going, what are you doing with your Marvell? And I said, well, this is not a good thing if it ends up happening, Just because I don't think it needs to be done, and I think it creates a lot of... Whenever you get bigger, it it creates potential risk going forward. I think Marvell and Intel, in particular, last week had a huge impact on this next leg down that happened in AI. If you went through the month of October and then into the first week of November, there were... Hedge funds were, you know, one of the things in my podcast this week is... This is a little too old for you, this reference, but... Come on out. Oh, it is. You know, at some point, the age difference has to come in. [00:34:21] S1: I... No. I I was I was shocked that you called your video a podcast. Don't don't put yourself down like that. [00:34:27] S3: You're amazing. It isn't a podcast. [00:34:29] S1: Yeah. You're amazing video analysis from the analyst Jordi Visser. [00:34:34] S3: Do you know who Roberto Duran is? [00:34:36] S1: Like, Duran Duran? [00:34:39] S3: Like I said, you want... Do you know who Roberto... Okay. He he was a boxer. Okay. And he was famous for [00:34:45] S1: And what years? [00:34:46] S3: The eighties. And he was famous think Jordan
00:34:46 · Jordi Visser, Anthony Pompliano
[00:34:46] S3: The eighties. And he was famous think Jordan [00:34:47] S1: was born in 1988. [00:34:49] S3: I said this is where the age difference is gonna show up. Okay? So for those people watching that are more my age, they're like, how can he not know? Well, again [00:34:56] S1: You're you're you're 21. What do you mean? [00:34:59] S3: Alright. Well, Roberto Duran was famous for a lot of different reasons, but one of them was no mas. Mhmm. He basically quit in a fight, he said no mas. Quitter. I think hedge funds reached the no mas moment [00:35:13] S1: with [00:35:14] S3: the Intel Marvell as kind of the, alright, this month sucks, but then when the midterms hit, I mean, I've got rumors of two major hedge fund closures of either the entire firm or the equity business that would be a lot of what's going on today. Regardless of what's true and what... What's not true, because I've learned in my hedge fund days that you just don't know what's going on, I think the no mas thing has hit for the hedge fund world in terms of being able to run risk. And I'll say it again, and I'll say it again, and I'll say it again. When you're running leverage of that magnitude and you had issues with CoreWeave debt, you had issues with French debt, you had issues with Marvell, issues with Intel, issues with Google falling, what... When you start to have these things go on, if you have leverage like situational awareness, which was going through x today that he's in trouble again, and he has to be. There's just no way around it based on what I heard.
00:35:14 · Jordi Visser, Anthony Pompliano
[00:35:14] S3: the Intel Marvell as kind of the, alright, this month sucks, but then when the midterms hit, I mean, I've got rumors of two major hedge fund closures of either the entire firm or the equity business that would be a lot of what's going on today. Regardless of what's true and what... What's not true, because I've learned in my hedge fund days that you just don't know what's going on, I think the no mas thing has hit for the hedge fund world in terms of being able to run risk. And I'll say it again, and I'll say it again, and I'll say it again. When you're running leverage of that magnitude and you had issues with CoreWeave debt, you had issues with French debt, you had issues with Marvell, issues with Intel, issues with Google falling, what... When you start to have these things go on, if you have leverage like situational awareness, which was going through x today that he's in trouble again, and he has to be. There's just no way around it based on what I heard. [00:36:14] S1: I just wrote that down. That's how you think our boy Leopold's doing.