00:00:00 · Jordi Hays, John Coogan, Jeffery Liu
[00:00:00] S0: You're watching TBPN. [00:00:02] S1: I'm zoomed in. You're zoomed out. It's Wednesday, 07/01/2026. We're live from the TBPN Ultra. I'm the type of technology that It's capital. It's capital. Let me tell you about Time is money saved up. Easy use corporate cards, bill pay, accounting, and a whole lot more all in one place. Jordan, why are you hitting the gongs so hard? What is that for? Is that for Mark Zuckerberg in meta? Two gongs for two [00:00:34] S0: People are always complaining that we don't warm up the gong enough. And so I Now it's warm. The show. [00:00:41] S2: You're welcome. [00:00:43] S0: Warm it up. [00:00:44] S1: Now it's warmed up. Couple warm up hits to get it warmed up. You'll love to see it. Anyway, we got a great show for you today, folks. Mark Pincus is coming on. We got back to back IPOs. Wayne Tang from Lime, Luca Ferrari from Bending Spoons. We got a bunch of other folks. We got Nick Grossman from USV talking about the rebel alliance thesis. And Amble, we got Julian from Amble, the cofounder and chief design officer coming on to talk about the electric golf cart very aesthetic that you're a big fan of. [00:01:16] S0: Right? I'm a huge fan of. [00:01:17] S1: Huge fan. Very excited to talk to him. [00:01:18] S0: Perfect show today. Perfect Perfect
00:01:18 · Jordi Hays, John Coogan, Julian Hoenig
[00:01:18] S0: Perfect show today. Perfect Perfect [00:01:20] S1: show today. So our first guest will be joining in thirty minutes and we'll take you through the news. Meta is selling compute. They're getting out of the computing business. They said we don't need computers anymore to do what we need to do. We don't need them. We're going to be selling them. MetaPlatforms is developing plans for a cloud infrastructure business to sell access to AI computing power and models competing with industry leaders like AWS and GCP. The company is considering selling access to various AI models hosted on its existing AI infrastructure as well as raw computing capacity as part of its MetaCompute initiative. Meta plans to generate revenue from excessive computing power could help return its investment in AI infrastructure, which includes hundreds of billions of dollars spent on data centers and expensive chips. And so lots of reactions to this. The NeoCloud market is selling off. Oddly enough, Meta has a bunch of NeoCloud contracts. Some of those companies are selling off because now they're a buyer and also a competitor. Lots of different takes about, you know, Meta finding its footing, finding something that justifies the massive CapEx. Of course, Meta [00:02:31] S0: It's deeply confusing, John. [00:02:32] S1: Yeah? Is it? [00:02:34] S0: I mean, the whole thing. [00:02:35] S3: The whole What's
00:02:35 · Julian Hoenig, Jordi Hays, John Coogan
[00:02:35] S3: The whole What's [00:02:36] S0: confusing about think that I think it is practical what they're doing. Yeah. But it shouldn't It doesn't As somebody that that, you know, I would say overall has been a big, you know, cheerleader for Meta. I think it's truly the best. In in my view, it is a perfect business. It doesn't give you a lot of confidence in like the strategy overall. If they're signing these neo Cloud deals worth tens of billions of dollars, they're built, you know, spending hundreds of billions of dollars. And, yeah, they can make the argument that these type of, like doing any type of Neo Cloud deals themselves is just good business. It's it's just like how it's just the best way to get ROI today. Yep. It doesn't give you a lot of confidence that there's near term products on the horizon for Meta that are gonna be able to utilize that capacity themselves, which is clearly been their strategy. I know Mark and and the team have never have never said we wanna be in the cloud business. They've talked about Yeah. They've talked about the possibility of it. Yeah. But the stated goal of MSL is personal super intelligence. We don't know [00:03:51] S1: Which I was a fan of and I think you were a huge fan of. You were [00:03:53] S0: like Yeah.
00:03:53 · Jordi Hays, John Coogan
[00:03:53] S0: like Yeah. [00:03:53] S1: Manus on your phone going around your social networks. That's my biggest bull case for all of this. Like it's very there are so many different applications that I can imagine being a daily driver of in the Meta family of apps. Oddly, none of that has really been even tried in my opinion. It feels like a little bit Yeah. [00:04:14] S0: All seen so far is Muse, Spark. [00:04:18] S1: Good on benchmarks, like decent, you know, like [00:04:21] S0: But but again, not anything to that that anyone should really get that excited about. [00:04:27] S1: As a, you know As a as an API provider. Exactly. They did announce that they were going to release it via an API. I don't think they have. They might [00:04:35] S0: still It's model. It's a good model, sir, but I don't think it will have a lot of demand. Yeah. And then we've seen Meta Vibes, which was a mid journey [00:04:43] S1: Yeah. Rapper. But the the fact even if even if Muse Spark is not on the super giga frontier, can it be good enough to get some work done inside Meta family of apps? Like it should. I would imagine, yes. But they just haven't found that killer feature. Like there are plenty of there are plenty of applications that are AI powered. There are plenty of models out there that have found their footing without being on the, you know, super intelligence path or on that particular curve.
00:04:43 · John Coogan, Jordi Hays
[00:04:43] S1: Yeah. Rapper. But the the fact even if even if Muse Spark is not on the super giga frontier, can it be good enough to get some work done inside Meta family of apps? Like it should. I would imagine, yes. But they just haven't found that killer feature. Like there are plenty of there are plenty of applications that are AI powered. There are plenty of models out there that have found their footing without being on the, you know, super intelligence path or on that particular curve. [00:05:16] S0: Yeah. It's because yesterday we were talking about the story where Google had been telling Meta like, hey, we don't have the capacity Yeah. For you. And here here, Meta is with with plenty of capacity themselves. I don't think we can read too much into this because there's just one article from Bloomberg. Yeah. I think it will matter a lot who the potential buyers of Yeah. Compute are gonna be. Yeah. If it's there's a number of companies that I think the market would get excited about. Yeah. But if they're actually just going and trying to compete as
00:05:16 · Jordi Hays, John Coogan, Luca Ferrari
[00:05:16] S0: Yeah. It's because yesterday we were talking about the story where Google had been telling Meta like, hey, we don't have the capacity Yeah. For you. And here here, Meta is with with plenty of capacity themselves. I don't think we can read too much into this because there's just one article from Bloomberg. Yeah. I think it will matter a lot who the potential buyers of Yeah. Compute are gonna be. Yeah. If it's there's a number of companies that I think the market would get excited about. Yeah. But if they're actually just going and trying to compete as [00:05:49] S1: Yeah. It's weird that it came as a leak about around like a plan to sell compute as opposed to just what SpaceX did where it was just like boom, huge contract with Anthropic, lots of excitement going into the IPO. Like that was such a perfectly massaged story as SpaceX entered the public markets. That would have been great if they just said, hey, we have a Frontier lab that's paying us a billion dollars a month now. And like it's gonna show up in earnings next quarter. Like get ready. But stock market loved it. Like the stock is way up and I don't know if it's way up because they see it as a huge growth area for Meta. Now, is it that crazy? [00:06:25] S0: Well, I think the [00:06:25] S1: hyper scale people have been wondering platform. On [00:06:27] S0: Where's the ROI gonna come from for this hundreds of billions of dollars Yeah. To spend. Yeah. And up until now, there's been no obvious place that it's gonna come from. Right? [00:06:37] S4: Yeah. You had