SPEAKER_00: hey everybody starting off the week strong with an all news show and it's a thick boy

SPEAKER_02: it is oh it is it is and uh how do we not talk about what happened at the oscars last night a streaming platform uh feature won best picture for the first time it wasn't netflix but there

SPEAKER_04: was another story that just um you know what spoiler alert now so you can prepare yourselves

SPEAKER_03: appropriately there's another big story that we spent like uh 40 minutes on and that's the slap we

SPEAKER_02: did just it happened it happened we went through every single permutation in relation to tech social media and celebrity and media and feelings and our feelings on it and we all have to process this together and we're never going to talk about it again in 36 hours uh and then of course we're going to talk about crypto continuing to boom uh there is a exchange called ftx that's backed by

SPEAKER_10: major vcs and apparently they have no investors on their board and they're worth 32 billion what's

SPEAKER_12: the worst that could happen and reportedly apple is working on a hardware subscription we break down what it could look like in a world where you just pay apple for everything brilliant absolutely

SPEAKER_16: brilliant we're really liking the bundling that's going on uh it's gonna be a great show stick with

SPEAKER_18: us this week in startups is brought to you by linkedin jobs a business is only as strong as its people and every hire matters post your first job for free at linkedin.com twist rocket to hire in today's competitive market you need outstanding recruiting rockets expert recruiters paired with machine learning candidate matching sets them apart from the rest get 20 off your first placement at getrocket.com twist and open phone as a startup founder a lot of mistakes are easy to roll back but using your personal cell phone number as your company number isn't one of them open phone makes it easy to get business phone numbers for you and your team right on top of your existing devices visit openphone.co twist to get 20 off your first six months hey everyone happy monday we're gonna do a

SPEAKER_04: news show today as you might imagine because frankly we like to do that on mondays we've had a lot of days to watch headlines go by and just like bite our tongues because we aren't allowed to talk about it other than constantly on twitter um and there is quite a bit of news today and i think you all know where we're gonna have to start i think we can all agree that the big number one takeaway from the

SPEAKER_23: oscars last night was a streaming movie winning best picture am i right that's all we have to talk

SPEAKER_24: about that was yeah that was sort of i think the number two distant two i don't know if you watched

SPEAKER_26: it last night but uh i i literally did a tweet where i was like the oscars are bankrupt i wouldn't watch

SPEAKER_27: this thing if you paid me they don't know how to pick movies the whole thing has become nonsense it's not about cinema anymore they've got all of these celebrities showing up kardashians and then all of

SPEAKER_26: a sudden i'm watching the oscars rewinding it looking at clips i spent four hours on oscar content last night when i thought i was gonna spend zero yeah obviously we're referring to the fact that uh there was

SPEAKER_28: an incident between will smith chris rock where will smith uh slapped slapped you could you could describe

David Friedberg: the slap anyway you like an open hand clocking yeah and slapped chris rock and what an amount of

SPEAKER_26: emotion went through my mind and as i tried to dissect this just so we can level set here for the four people watching who did not see it who did not see it here's the japanese version with uncentered get

SPEAKER_27: my wife's name out of your mouth and so let's start with the joke heard round the world

SPEAKER_37: hill smith went like please lord jada i love you gi jane too can't wait to see it all right

SPEAKER_38: that was that that was a nice one okay i'm out here oh richard so what's happening now obviously

SPEAKER_41: is will smith coming on stage and there it is wow okay so i think we can pause there yeah i just want

SPEAKER_28: to start with i saw you and other people on twitter i'm in the hot tub after a day of skiing i'm a little a prey de ski in the hot tub and i see my twitter go off what just happened what's that creep bahara

SPEAKER_45: you just everybody on the planet who would normally maybe you know not be saying the same exact thing right on twitter is saying what just say the same thing so were you

SPEAKER_26: not watching live i was not watching live so i get the signal on twitter because i was tweeting and yeah it was a bad signal for sure it's a bad signal moment right it's and so

SPEAKER_50: i watched the joke now i i want to start with the joke and ask you a simple question did you get the

SPEAKER_26: joke yeah you got the joke as in she has a shaved head and gi jane demi moore had a shaved head totally yeah okay so i get the i did not get the joke because when i saw them flash to jada smith i didn't know if that was her normal haircut because some women will wear hair very short or if her hair was pulled back i just couldn't visually tell i wasn't paying attention right so i don't exactly the red

SPEAKER_46: carpet and right i didn't see the record so i'm trying to put together what's going on here what is up yeah so i didn't get the joke didn't land for me and then i'm like okay gi jane it's a

SPEAKER_57: compliment joke because i saw your tweet about that i was like yes i was like is this a compliment or

SPEAKER_50: what the hell is going on here yeah because demi moore was that was the performance of a lifetime an amazing film she was diesel beautiful amazing powerful and i remember jada smith because i don't know everything about their lives but i do understand that they have a colorful life that there's some facebook show red table or something i know enough about cop culture to them to know they have a very raw red table thing where they talk with their kids and other people about very details of their lives so i'm trying to piece all this together in my mind and i'm like that's a compliment joke or a joke joke it's not making sense to me yeah by the way everyone just i'm just in all of our

SPEAKER_12: listeners i see our notice freaking out and jumping ahead we know we're going to get to all the context

SPEAKER_04: right now we're reliving our live experience exactly but i did see your tweet and i was like oh let me

SPEAKER_02: ask you this did you know that she was suffering from alopecia i did not know that i immediately i

SPEAKER_12: did not evidently she has been very open about that but all i care about is like tech and business crap so

SPEAKER_65: i never read celebrity news so i didn't know that evidently she has been open about it i it was

SPEAKER_53: certainly a rude joke no matter what well a rude joke to compare her to gi jade if she had chosen the

SPEAKER_69: hairstyle would have been maybe playful but not playful and lazy right it would have been lazy but

SPEAKER_46: lazy and dated but it wouldn't have been like mean yes and so here's the thing once you know that she

SPEAKER_27: is suffering from hair loss and it's not male pattern baldness which men go through it is rare for

SPEAKER_46: women to lose their hair it's an autoimmune disorder it's like really terrible yeah right so i'm like trying

SPEAKER_45: to figure all this out and i'm realizing okay does chris rock know this do you think because this this

SPEAKER_27: is the piece of information i don't have to make a judgment on what happened from chris rock's

SPEAKER_45: perspective because chris rock has been making jokes about the smiths who are high profile fair game sure uh making jokes about himself making jokes about all kinds of celebrities that's why you bring him

SPEAKER_04: there he's an insult comic and it was an insult comic show right you have amy schumer like which we'll get to in a minute i have a lot ricky gervais host of globes right exactly like it has become an insult

SPEAKER_46: comic show right and the it is part of being a celebrity is that you get taken down a notch

Jason Calacanis: a hundred percent new and evidently had made a joke to that effect previously like had already made

SPEAKER_50: fun of this sort of alopecia situation he had because i haven't seen that so we're all trying to piece this together in real time and i think that this is the interesting thing about this story in a media basis because think for a second molly of what this story triggered there is comedy celebrity marriage defending your wife defending your spouse live television oscars being the worst program

SPEAKER_45: on the planet that's sort of disintegrated uh over time yeah and uh maybe race yeah a little bit oh and then accountability and accountability right yes and cancel culture and

SPEAKER_57: should he be arrested all this stuff is going through your mind and i'm trying to figure out the

SPEAKER_84: joke i'm still at the joke i know poor jason's like wait i don't get it it seems like kind of old

SPEAKER_05: and then maybe it's okay i'm trying to understand and this is the thing about comedy if it's funny yeah if it's really funny then everybody goes oh that was hilarious let's move on but if it's mean or a bad joke well now we're in a different territory because here what i need to know the

SPEAKER_28: piece of information i don't have did chris rock know she has alopecia or not that is the piece of

SPEAKER_27: evidence i don't know if he did know she has a disease if she had had cancer and lost her hair oh my lord you don't make that joke yeah and you certainly don't make that joke at the oscars in front of the person like maybe in the comedy cellar at three in the morning like it's still distasteful but i i

SPEAKER_46: maybe i don't know somebody tell me about comedy if you could get away with that but you just don't go

SPEAKER_03: after people for their the oscars is a highly scripted show and there's no universe in which like chris rock or whoever wrote that joke and i was talking to a friend today and we were like the eternal mystery and the thing that we will never know for sure because he will probably take it to

SPEAKER_65: his grave is who wrote that joke and who approved it but a lot of people saw the script it went into the teleprompter so like oh that's a great point i didn't think about that like everybody's complicit in the joke oh everybody's complicit in the joke because they have turned the oscars into a insult comedy show and i don't mean to be like the old lady mom in the room but for years i've been like i don't really like this like why is everybody so mean like it's mean there were me you know i mean

Jason Calacanis: i love it certainly and this is the thing about comedy people this is the thing about comedy but it's not the thing about oscars right like it's like in that context you don't like it i don't know

SPEAKER_55: i mean i don't you you know me i'm generally don't like general softy right like i'm like why does everyone have to be so mean i don't like it but so you don't like the comedy central roast you don't

SPEAKER_84: like ricky gervais at the globes okay i don't i think that i mean and i'm not even saying like some of it can be really funny and amy schumer had some great you know there was some funny moments

SPEAKER_03: but it just but yeah i don't understand the and also there's a time and place to do a roast and

SPEAKER_108: that's a roast correct when you're in the roast it's a safe space for roasting and everybody opts

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SPEAKER_112: linkedin does that uh to support startups who listen to this week and startups terms and conditions do apply

SPEAKER_65: because they're giving you something for free so i'm an old mom and i'm like that joke is horrible okay but then now where did you go next so i think so the joke so like no one should have told that

SPEAKER_03: joke that was lazy cruel and stupid and by the way if you're going to go after the smiths then go after the oscar nominee like don't go after his wife right that was punching down from a car there is also

SPEAKER_27: that was punching down yeah but she is also a celebrity they also do i here's a mitigating

SPEAKER_26: things i'm not saying this joke works but if another joke about them from what i understand they have an open marriage or something and they're incredibly public about this and there was a joke

SPEAKER_45: earlier about it where one of the female comedians yeah was kind of like hey well you know jada can i borrow will kind of situation right and they kind of left that whole thing was also kind of

SPEAKER_04: yucky and weird by the way that's also a little cringe that whole thing of just making this wonderful brilliant actress into just this like man-eater thing was also kind of strange and cringy yeah however how do you get to the part where will smith walks up on stage and strikes a person

SPEAKER_127: on live television strikes him hits him in the face wow and goes back to his seat the cameras stay on him the whole time right good job to the camera operators really or maybe i would

SPEAKER_26: have cut away i mean here's the thing if you're the camera operators your job is to stay focused on the people i'm just talking about framing the shot here should the person who has their finger on the

SPEAKER_45: drop button and there's what a 30 second delay on a show like that there's a 30 minimum 15 second

SPEAKER_133: we'll find this out in the bank so this is on twitter that it was somebody has a button somebody

SPEAKER_135: has a button where they press if somebody curses because i think on the live the american broadcast you didn't it was all bleeped it was all bleeped so there was a button so they bleeped the sound but

SPEAKER_141: they didn't believe the action right they could have stayed on will smith and so at this point by

SPEAKER_03: the way i'm watching live with my son oh i see this happen everything goes silent because they're bleeping the entire thing and i'm like scrambling for the remote i'm starting to swear because i'm

SPEAKER_143: like what just happened where the is the remote like where is it what is going on million americans

SPEAKER_03: what's happening and texts come in and so but we then we look up and even though it's silent you can see will smith and it's so it couldn't have been more obvious what he's saying right he's like you keep my wife's name out your mouth like yeah it is clear as day and i'm like that is not a bit

SPEAKER_148: right it's not a bit oh right we've skipped over the whole part is this a bit tons of people like all

SPEAKER_04: the well into the night tons of people were like no i still think it might be a bit and i'm like no it's not a bit like yeah anyway so all of that happens we're trying to figure out if it's real or

SPEAKER_03: not and then it just gets more and more surreal because the night just goes on poor quest love

SPEAKER_04: wins a phenomenal oscar for summer of soul is so rattled gives this like speech where he's just like i've ruined the night for everybody it's like the night for everybody it's like a wedding where

SPEAKER_27: like some crazy uncle or ex-lover you know crashes apart he starts to fight and leaves

SPEAKER_03: and now it's ruined for everybody right and then it just gets weirder and weirder at one point like uh who was it they're standing there with the puppy during the memoriam segment and then being like if you the best thing you could do for betty white is to adopt a rescue dog i mean it was like maximum surreality and will smith is still just sitting there there's no it's clear that like from twitter that people are talking to him denzel came over each of them had a publicist in their ear like we don't know if chris rock has come back we don't know if if will smith and so then my son is like we should just turn this off and i'm like oh no he is very likely to win the oscar

SPEAKER_28: right that's now we have to see what the hell is going to happen this week in streaming i start tweeting with him who has done a great job the last couple weeks uh thursdays this week stream we talk

SPEAKER_156: about uh super pumped we don't talk about super pumped anymore talk about uh the dropout and we

SPEAKER_158: don't talk about super pumped we don't talk we crashed and i guess we're going to get into uh severance

David Friedberg: soon anyway so i'm talking to him he's like you realize he is going to win best actor in 10 minutes yeah and i'm like oh he is i didn't even know he was nominated but then i'm like oh that's why he's

SPEAKER_159: in the front row because i did not pay attention to movies this year because covered it's like i

SPEAKER_45: don't yeah most of us i wasn't going to movies all that often um so this is like a surreal oscars already because nobody's seen any of these films have you seen any of these films no right nobody's

SPEAKER_50: seen these because covet right it's just like and they're not they decided most of them are not on streaming and there was so much good stuff on streaming the these movies if they're insisting we go to the movie theater then how are we supposed to even see them because we have so many streaming options

SPEAKER_84: that are better can't be yep yep and even if they're streaming it's sort of just like there's so much noise i don't know i mean it is it's hard to sit for a two-hour film today yeah it is that's

SPEAKER_45: the other thing that's happening is like who can sit through a two-hour film today who has the

SPEAKER_28: attention span when you've got 40 minute 50 minute unbelievable streaming shows that are you know just a much easier meal to process it's like going to fine dining going to a film is like going to fine dining

SPEAKER_50: it's a three-hour experience four-hour experience with parking you have to settle in and you're not

Jason Calacanis: distracted right and it's all about the it's all about the person making the movie like i sort of

SPEAKER_03: feel like fine guiding got to the point where it was just like i don't need to sit here while you show off is the nicest way i can think to put it like i don't need to sit here for your sort of three

SPEAKER_45: hour masturbatory effort like there's a moment when you go to a fine dining experience and it's not going great if it's going great it could be transcendent but there's a moment in hour two where you're on dish nine and like it's been hit or miss and you're just like i i don't want to get the hell out of here it's so self-indulgent and the guy's like oh and then you know the waiter comes out he's like oh here is you know a butternut squash souffle with air and you're like

SPEAKER_26: it's you're giving us the ninth edition for four hundred dollars a person is butternut squash foam

SPEAKER_45: he's like oh with a truffle you know emulsification and i'm like you're serving us the foam off of

SPEAKER_28: boiling water like yes exactly i'm like all right can i get a steak you know like i like a ribeye

Jason Calacanis: please can we move on here it is kind of like that that's such a good metaphor for what movies have

SPEAKER_04: become it's just like it's all about you showing up okay so anyway all that happens yes and and this is one of those i mean look why are we talking about our startup show because we all

SPEAKER_03: watched it because everybody's talking about no choice like and because if you are very online and i know that that is the case with our entire audience pretty much yeah it it quickly devolved into just a fast like obviously memes right that was the simplest part but it was so fascinating to see

SPEAKER_91: where people fell on this like it becomes a raw shock test right it became a rorschach test exactly right

SPEAKER_28: because there's a group of people who were then like and this is where race came into it gender

SPEAKER_26: came into it everything through identity politics all of a sudden starts happening on my feed i don't know what your feed was doing but i see a bunch of people like why is it will smith arrested and then

SPEAKER_181: people are like why are the white people saying will smith be arrested i'm like oh my god this is getting so dark yeah that's about when i turned it off i was like okay this is like one o'clock in

SPEAKER_183: the morning i'm like i need to go to bed i got a big show with molly tomorrow and people are now

SPEAKER_27: doing the identity politics thing where they're just replacing each character in the narrative with well what if it was a white guy who smacked a black guy or a black guy who smacked a white guy what if it was the rock instead of chris rock i'm like are you swapping out the rock because he's bigger because

SPEAKER_190: he has the same name i'm just like i can't keep up i just can't keep up with you maniacs i mean

SPEAKER_135: this is social media right it's like there's like a lot it's a lot it's every emotion it's when i was talking to sam harris one time i was talking about we were having this like real existential thought

SPEAKER_28: and sam harris and a friend of mine we used to go out and have dinner every week or two in la we'd go to italian restaurant propone's in um in brentwood when i lived there a couple of my friends lived there we just have this like existential discussions about ai and technology and i was talking to him about like why do our minds go crazy and we can't slow them down like and how that affects our lives and he said you know uh when i was meditating with ram das or something name drop somebody he's like

SPEAKER_50: explain it to me like this there's a river that's your mind and all of the water going down are your thoughts and your mind just flows like a river it literally pops into your mind every permutation of every single thing and it's up to you as a human to decide how much you pay attention to each little you know trickle of water going down the river and you can then take a cup and pull one thought out and sip it you know or you can dip your toe into one thought but you are not obligated to try to drink the entire river of thoughts or think that they all have meaning but that's what twitter is it's just a river of every thought unconscious dark beautiful narcissistic dystopian

SPEAKER_05: and that's what we saw last night was every permutation of it and i did think to myself i was very conflicted because if somebody said that to my wife and i'm not saying this has happened

SPEAKER_86: before but it not at the oscars if somebody said that to my wife would go down i'm not saying i would hit the person but i'm not saying i wouldn't yeah i would definitely get in somebody's face if they

SPEAKER_26: came up to my wife and said something and i'm not saying that's happened before but people who have experiences you know would know if you're an east coast guy somebody says something to your wife you

SPEAKER_199: are saying that's happened before i'm not saying i don't know when the statute of limitation runs out in

SPEAKER_26: various scenarios yes yeah that being said somebody's getting dropped and if this was at a party and you came up to somebody's wife and you said something like that and you got dropped i don't think anybody is going to say to the i mean i'm not condoning violence but i'm not saying anybody wouldn't give will smith the high five or a pat on the back and say yeah that guy was out of line

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SPEAKER_26: them or smacked them punched them and that brings in another wrinkle that maybe only a guy would understand this nuance or had immediately gone to this i immediately went to well he smacked him him he didn't punch him right he smacked him which is what you're doing when you're telling somebody

SPEAKER_01: you're out of line but we'll work this out later but you're getting smacked now what i think is so so

SPEAKER_26: yes and there are a couple did that in any way go into your mind as a woman that it was a smack not a punch i'm just wondering because i you and i have these great discussions of gender and differences

SPEAKER_02: interpretation of things yeah i don't really know instant i mean instant thing for me was oh he smacked him it's no big deal i was a little really wow yeah i mean if he i mean if he had punched him i

SPEAKER_69: mean he played biometer am i correct that will smith dropped him when i actually the conversation i

SPEAKER_03: actually had with a friend earlier about this was that he 100 could have dropped him yes and

SPEAKER_127: he slapped him instead which to me made it even more premeditated feeling and that so on the way up

SPEAKER_211: you knew he had made the decision when he stood up he had made the decision he smacked he had made the

SPEAKER_127: decision yes 100 and so that means there was maybe enough of a level of control to instead sit down

SPEAKER_03: or like like here's how here's how will smith comes out of this a hero look if this happens at a party and chris rock gets punched that's a whole different issue this was a performance in a crappy insult comedy show that had already been going on for an hour and a half and that you know some version of that had happened for like the past past three or four years he that's a different scenario this is like

SPEAKER_65: a live broadcast and a billion people are going to see what you're about to do yeah if will smith goes up there like here are a couple things that could happen one he leans over to jada smith he

SPEAKER_04: kisses her bald head they both give chris rock the bird right he's like sure that's a great one

SPEAKER_03: he's like let me let me show you that i love and support you and maybe he even yells keep my wife's

SPEAKER_04: name out of your mouth sure right no violence just a warning or he goes up there and he puts his hand on chris's shoulder and he physically intimidates him because he's so much bigger and he says that's

SPEAKER_03: not cool keep my wife's name out of your mouth and then he goes and sits down and then we're all like

SPEAKER_04: his face listen could have pointed his face that's not acceptable right like you're punching down then he goes and sits down and then we all are literally like god i can't believe that joke that's

SPEAKER_65: so disgusting you know he shouldn't have said that that's so cruel and will smith comes out a hero and

SPEAKER_03: it all comes down to self-control but i will tell you the part that really took this over the edge for me and that was the speech so then will smith was manning the speech was manic the speech was

SPEAKER_65: actually terrifying and kind of psychopathic and all that you could see all of these people on twitter

SPEAKER_04: being totally triggered about the fact that you know what abusers say to you they tell you that love

SPEAKER_01: makes you do crazy things oh interesting i didn't have that interpretation i just thought this person is unhinged oh that was like the first thing i thought i was like interesting terrifying interesting

SPEAKER_03: when you're saying it is my love that makes me violent this way yeah like it's your fault creepy

SPEAKER_115: into it and he tries to sort of make it seem like that he's like their father and i'm protecting the

SPEAKER_26: people on the set i'm like that i didn't understand he's like i'm protecting me on the set and i'm like i'm sorry the most privileged group of people in the world celebrities need to be protected on a set where they're catered to like queens and royalty where they will get you like whatever starbucks you want and you can throw it at them if it comes out wrong and they'll bring you another one like you're protecting them i'm like you're they don't really need protection celebrities like that was great weird there was this reverse narrative which was like celebrities uh are gonna stand up against this abuse and i was like that fell flat real quick yeah and then the counter reaction was all these uh comedians who were like that's not cool now we're all gonna get

SPEAKER_57: attacked at comedy shows what did you think of that well also true like everything about this right and

SPEAKER_04: then you saw all of these people i mean you know the the the dark threads when i finally was like i gotta put this down we're like wait so chris rock deserves to get hit in the face on live television for what he said but we should take dave chapelle comedically but not seriously like what is the

SPEAKER_03: line here right what are we saying about comedy what are we discussing but i mean it's pretty

SPEAKER_02: clear comedy is comedy it's just words you don't get to hit people for it well and people but here's

SPEAKER_65: the other thing though is like people are people everybody's a mess right now everybody's super fragile

SPEAKER_12: coming out don't get me wrong i i think that like that family get something like and this is my son

Jason Calacanis: a man who will hit someone on live television for insulting his wife is a man who will also hit his wife like you're not that comfortable with that action you don't go there first unless that's what

SPEAKER_03: you do on that red table thing he admitted that like she said something to him like maybe mocked him in front of the family and he hit her with a newspaper like oh he said that they and then they kind

SPEAKER_04: of laughed about it and there's willow there and there's the sun tweeting this is how we do it like

SPEAKER_57: there's a whole situation happening there's a whole situation there was like why would you have a show

SPEAKER_250: where you talk about on facebook about all your family's trauma yeah and it's like no no if you have trauma go to therapy individual family couples that's why it exists right and that's that the speech i think was the cringiest i i almost felt like the speech was more uncomfortable to watch than smack

SPEAKER_255: it was so upsetting it was really weird but he's crying and then why did they clap for him i don't

SPEAKER_04: know and then no one know what to do and then they clap for him and like they said oh god i don't know all i know is it was terrible twitter was on fire that is it was sad to say that the literal i mean i think i said it i was like first i rewound and then i came to twitter to be like what the hell just

SPEAKER_258: happened let's all group process it let's all group process so thank god for twitter and also worse

SPEAKER_04: and also can we just stop telling jokes that try to push people to the breaking point like maybe we

SPEAKER_24: don't need to do that maybe we don't need to do that i i think a mentally ill person combined with

SPEAKER_28: uh a joke that you know i still don't know i think chris rock is mentally ill chris rock needs to come out and say if he knew she had it and apologize and just contextualize this very quickly i don't know if he has or hasn't yet i know he said he's not going to charge he's not going to press charges and then i think a bunch of people said he was kind of diffusing it and making jokes uh but i felt like i i really need to know if he knew she was suffering from and you know this immune disease or she just decided to cut

SPEAKER_135: her hair short if she decided to cut her hair short i don't have as much of a problem with the joke because i thought it was complimentary but i will say this in the simulation uh i am guaranteeing right

SPEAKER_263: now uh that they make chi chain two jada pinkie smith stars in it because that's how hollywood works there's no way this inception in their minds that they're going to let this kind of marketing go away that she wins an oscar for it and that she thanks chris rock thank you it's a simulation if that

SPEAKER_267: happens we are in a simulation tagged her oh lord i guarantee she's gonna play it i guarantee it i

SPEAKER_263: just know how hollywood works they would never let an opportunity like this go away that is she would

SPEAKER_26: be great as she's known for being like an incredibly tough buff action hero is she not like this not what

SPEAKER_50: she played in uh what's the sci-fi film that she was in was she in the matrix she was in something that

SPEAKER_12: she played a really tough somebody pull up her imdb must we can we talk about coda now it's been like

SPEAKER_00: 32 minutes on this is it hasn't been 32 sorry so many minutes i'm sorry we had to process this with you but we did have to process it with each other though honestly because yeah we were all on twitter

SPEAKER_223: last night she was on gotham oh she was in the matrix okay great she was uh a lot of people are

SPEAKER_236: thinking she was on gotham and she was amazing 100 she is going to play jerry jane i've always loved

SPEAKER_278: her as an actress i don't know why he was making fun of her as an actress either because she's awesome i always love seeing her on screen he's made fun of her a lot apparently i did see that going by on

SPEAKER_02: twitter and one of the notice is saying the same thing yeah the other bit he did at another oscars or some people's choice of what or something was like you know her she was like commenting on the

SPEAKER_28: oscars and that would be like him commenting on being rihanna's lover like he was not invited so he was kind of dismissing her as like a b-list celebrity c-list celebrity before okay so i was just informed that uh by my producers that the year he went after her was the oscar so white year and he

SPEAKER_159: was presenting but there were no black nominees i believe that year and so it was like what's going

SPEAKER_135: on here the whole thing is just a mess we can move on i think i think we've basically processed

SPEAKER_285: every possible angle is there any angle left unturned yet uh well if if so they'll all come

David Friedberg: up in our group chat later it'll be in our group chat later and on twitter trending somebody uh chris

SPEAKER_12: rock for the love of god you know we have not i will say we have not heard the end of this story there is going to be more coming out of this because the academy part of it alone just sort of

SPEAKER_62: like oh my god like not doing a single thing having a like stop saying woke having a like assault happen on live tv and not doing anything about it like it's just well i mean the academy was

David Friedberg: historically very racist i mean and then they tried to flip that right i mean that is the history of it

SPEAKER_03: kind of so coda streaming movie wins best picture and that is a big deal it's also a big deal because

SPEAKER_293: apple beat netflix there i want to see coda so badly now i had heard the buzz about it i have not seen it

SPEAKER_03: you haven't seen it either i take it i haven't seen it but i saw uh that the lead actor win best

SPEAKER_04: actor and i bawled like a child it was so like molly is crying right now oh ugly cried i ugly cried over that it was so beautiful and the woman presenting the award like stopped and was like and then just

SPEAKER_141: sort of you know oh i love the woman i mean it wouldn't leave the stage yeah stunning it was stunning

SPEAKER_299: the woman who wouldn't leave the stage as you noticed they were trying to pull her off the stage

SPEAKER_300: like well no because she was like i'll hold your award for you because you know but you're not

SPEAKER_69: supposed to do that you're supposed to move off the stage to give that person 100 of the moment they

SPEAKER_04: told her though i think they told because he he needed to sign so she was like i'll hold your award

SPEAKER_53: for you so there's usually but you still take a step back so if you look at the tape i was all in this

SPEAKER_49: investigation and also she was like three great and i love you and i'm gonna stay here she was fawning over him it was very endearing it was adorable oh my god so it was so historic it was so

SPEAKER_65: incredible and he was i think the first deaf actor to win any kind of an oscar and then apple i think

Jason Calacanis: they said second sec they said second oh that's right did marley matlin win maybe marley matlin did

SPEAKER_305: win one yeah maybe for best maybe for best actor marley did win best actress in 1987 okay for her role in children of lesser god that's what i was gonna say yeah oh yeah incredible performance so second

SPEAKER_115: time first step man anyway either way it was lovely and children of a lesser god yes first

SPEAKER_03: deaf man yes exactly okay phew good i'm like there was a first something and it makes apple tv plus the

SPEAKER_65: first streaming platform to win the academy award for best picture which is fantastic and then netflix won best director with jane campion i believe becoming only the third woman to win a best director award for power of the dog and you want to see that too that netflix was like we spent so much money on

SPEAKER_03: all these movies over the years and freaking apple tv plus comes along and wins best picture

SPEAKER_293: wait wait power of the dog was netflix so they lost yeah but the fact is it's still the year of the streamers again it's the year of the streamers again yeah it's huge listen lots of founders are

SPEAKER_109: loosey-goosey with their personal numbers we all know that they put it on company documents they use it for sales calls and more and that's where things get super messy you don't know who's calling you right is it a sales prospect is it a co-worker or is it somebody from your kid's school is it spam well open phone helps you create business phone numbers for you and your team and it works through an app on your smartphone very elegantly or on your desktop you just pick a number you install the app and you're done there is no need to carry two phones like i do and there's so many features you're going to love including you know how we all create catch-all emails like support at our company name.com well you can do something similar for a phone number you can have a shared phone number with multiple employees fielding those incoming texts and the calls what a brilliant idea see what open phone can do for you it's already affordable at a starting price of just 10 a month per user so affordable and twist listeners can get an extra 20 off any plan for your first six months by signing up at openphone.co twist and if you have existing numbers from another service no problem easy peasy lemon squeezy open phone can port them over for free just head over to o-p-e-n-p-h-o-n-e dot c-o

SPEAKER_28: slash twist today openphone.co twist today i love this kid jesse plemons i tweeted like i don't know remember his name but when jesse plemons comes on the screen i'm riveted he is my new philip seymour hoffman like or benedict cumberbatch like when i see him i'm just like it's pure talent and i'm going to see the power of the dog for him first benedict cumberbatch second and paul dano third i love all three of those actors i like all of them and i also have no interest in seeing that movie it's i don't know what it's about i know it's a western or and i know that another person was

SPEAKER_02: like making fun of it and the director made some reference to venus and serena at the people's choice award or something that was cringe worthy i mean i why don't we look for celebrities for all right

SPEAKER_04: i remember i mean honestly that is exactly that is the maximum point here which is like our celebrity culture is so toxic and has been for decades it's not a new observation but oh my god why do we care

SPEAKER_02: about what celebrities say they're they literally put all their effort into being famous they're fame

SPEAKER_305: balls mostly yep and they have no judgment they have nothing interesting to say 95 of the time but we do the same thing with founders like it's true it's a whole you know it's why here we are trying to be

SPEAKER_326: celebrity vcs in order to get deal flow like it's a whole whoa whoa pump the brakes there we're doing

SPEAKER_02: it for a good reason listen to our opinions whoa whoa whoa whoa anyway in the words of bob dylan trust yourself like you do not need to trust a bunch of celebrities to mitigate your view of the world or vc celebrities or founders trust yourself come to your own conclusions think first principles do your own research and and have some like moral compass as to like what is acceptable in life period end of

SPEAKER_250: story enough with the celebrities enough with the celebrity culture enough with the politicians love

SPEAKER_278: with the celebrities enough with the founders the vcs all this nonsense focus on let's talk about the

SPEAKER_168: celebrity culture of the crypto world am i right oh god here it comes that was not a great segue

David Friedberg: we gotta work on that segue you perfectly got me off of woke you admonished me for using the term

SPEAKER_24: woke everybody loved it in the chat room people are going to start calling you twist karen and they're like and people were already like wow they're like oh i'm going back can we show one meme from the slap

SPEAKER_341: that is perfectly it's a perfect segue i don't know if i want to go to the memes but okay we're going to

David Friedberg: do a quick meme no no i'm fine with doing rapid fire memes everybody loves memes rapid fire don't do

SPEAKER_343: rapid fire because most of them are really no just one we'll do one that's which one wait wait wait now

SPEAKER_183: you told the audience that they're terrible they want to see them give us one meme okay uh chris rock

SPEAKER_10: in this meme plays decentralization and will smith plays and treason horowitz vcs purchasing 90 of governance tokens basically it's an a16z joke i think um yeah i give it a seven i get the joke

SPEAKER_141: it's it's not bad all right let's stop watching that man hit that other man because frankly it's

SPEAKER_81: not that fun it's too violent i do like the knicks fans this is a no joke only knicks fans can like

SPEAKER_352: knicks fans with timbs uh leaves the starters in through the entire third quarter it's it's really funny

SPEAKER_28: that one because will smith is from philly oh god and chris rock is a die hard knicks fan from new york

SPEAKER_50: anyway moving on it has to stop the meme we how long do these things last now is it 36 hours is the

SPEAKER_28: meantime till moving on mean time to m mttm mean time to moving on is now 36 hours just happened last night at eight tonight at eight which means sometime in the morning on tuesday you're not going to hear

SPEAKER_358: anything about this 36 hours is mttm that sounds great yeah and we are going to mttm now 36 minutes into this discussion nice nice thank you may linger but we'll see no please no callbacks despite my

SPEAKER_115: terrible attempt at a clunky segue you are the queen of the transition though i will give you i mean

SPEAKER_02: sometimes awkward joke is a really funny joke you're so professional i mean you have brought a level of professionalism to this show that i even i cannot drag down oh i love you as my co-host this

SPEAKER_04: is the best part of my day other stories that we can't stop talking about obviously the banana pants crypto universe and the fact that these deals are now so hot and vcs are so desperate to get into these hot crypto startups that they're passing on board seats i'm sorry in point my uh my monitor went out

SPEAKER_28: here in my ear you said um locking down a board seat i think you it came in as passing on board seats for a 32 billion dollar company i think you meant assuring there was proper governance is that what you

SPEAKER_03: said right yeah no i said uh yeah they're just not gonna have any they're just not gonna have any

SPEAKER_373: governance of these companies no no please no double barrel oh you can't see us right now but

SPEAKER_178: you're waving our red flags for quadruple red flag everywhere the the case in point today is that ftx one

SPEAKER_04: of the fastest growing crypto exchanges in the world is worth 32 billion dollars and evidently none not at one

SPEAKER_127: of its investors has a board seat it's so ridiculous like what is happening it only has three board

SPEAKER_04: members it has three founder and ceo sam bankman freed ftx executive jonathan cheeseman previously

SPEAKER_326: goldman sachs and hsbc and some attorney based in antigua and barbuda where ftx is incorporated

SPEAKER_370: antigua an antigua attorney shout out to these 17 attorneys i'm just gonna keep my red flag just as

SPEAKER_385: my hat today oh it is so crazy it literally what is happening what is happening is right what is

SPEAKER_24: happening it's so crazy because we just went through this we're uh on uh all in brad gerstner and

SPEAKER_28: chamath and i were talking about companies going public at high valuations and the private market investors right before they go public not putting into their deals a ratchet in other words if the company is going to go out at 20 and then you bought shares you put a you know a billion dollars in for 20 billion dollar valuation on five percent if it does go out at 10 then instead of getting

SPEAKER_109: five percent of the shares you know you would get more shares to make up for the fall right

SPEAKER_28: in the valuation you get ten percent anyway uh this is crazy lps need to talk to their vcs and this is where the lps actually can have actually great point this is where lps can have a little bit of common sense and just say to they don't and see lps now are pissed are uh scared of pissing off the vcs vcs are scared of pissing off the founders and the founders are scared of getting ousted or taking

SPEAKER_03: advantage of a crazy moment in time um you know and all this is oh and by the way just as a side note

SPEAKER_65: just this just in the latest story about how there's a company called cashio a solana stable

SPEAKER_04: coin project that was hacked by some sort of like robin hood type who returned smaller amounts and donate the rest and now this you know the back end is saying like we can't compensate users and i'm

SPEAKER_65: reading all this from web 3 is going just great which is all about all of the scams all of the hacks all of the ways in which people are losing money at this and then the idea that you wouldn't even

SPEAKER_03: have governance saying like is it safe how's your security like do you have contingency plans in the

SPEAKER_04: case of one of these hacks so that you could return the money to users like none of that is just i don't

SPEAKER_65: understand how we keep dealing ourselves these self-inflicted wounds as an industry that i have only

SPEAKER_228: recently joined yeah exactly so let me just say this this does not mean all these red flags that the

SPEAKER_135: founder did not do the right thing in negotiating the best deal for them and this does not mean that the business itself is not a fantastic business but proper governance is something that protects all shareholders it protects the employees all stakeholders the employees the customers the partners the investors the lps of the funds and and ultimately the public you want to have proper governance so that if uh somebody makes a bad decision there's somebody there who says you know what i've seen this movie before and uh this is not in the best interest of all shareholders and we should have a vote if it's or we should have a discussion about this and then if the discussion leads to

SPEAKER_50: you know people having a difference of opinion you say you know what let's bring in some consultants let's bring in some outside people to give us their opinion on what we should do let's get some experts let's get some attorneys let's get some accountants let's get some hr people let's get some consulting group and you have a very thoughtful you know debate over the merits of what you're doing and then based on that hopefully you can have a vote that then leads one way or the other well if

SPEAKER_28: this was we work and the founder got super voting shares which eventually adam newman did get then

SPEAKER_05: nobody could stop a founder who's out of control and is spending the investor money and double dealing which is what we worked in right you guys know the story of him um selling the ip back to himself buying the buildings and selling them back to the company all of this stuff proper governance would

SPEAKER_50: protect against and in fact in that case the press wound up being the governance as a backstop if the press is your backstop governance has failed let me say it again if the press is your backstop

SPEAKER_05: governance has failed if madoff elizabeth holmes and adam newman had proper governance it would have been john carrie rue and whoever broke the stories about the other companies that needed to be the backstop this is where the press does a great job this is where the press is necessary this is where

SPEAKER_02: investigative journalism is brilliant and important but we as capital allocators need to play our role too not just abdicated is that the word to the press yep that's exactly the way which is stupid

SPEAKER_04: and i don't you know i see nodi saying that this guy is such a great founder and this is a really good company and here's the thing sure if he maybe but if he's the guy insisting on not having investors take board seats if he's the guy who's essentially saying your investment you know i know you really wanted this deal and the the way that you're going to get in is with this contingency in

SPEAKER_65: place i am skeptical it i think there is good reason to be skeptical of someone who doesn't want oversight that almost never is a good sign precisely it makes you better it you should want it and i just

David Friedberg: want to also look at the funding history here and i this is not like a i mean if i had 20 red flags i would be waving them but i'm just gonna pull up my red flags here 2019 they raised 8 million we don't

SPEAKER_28: know what valuation but you would assume for 10 of the company 5 of the company something in that range so that would uh be uh 8 times 20 160 million i'm just taking a guess on that one educated guess january 2020 they're at 1.2 billion 18 months later july of 2021 this is all during the pandemic they're worth 18 billion that is 15x no business grows 15x in 18 months but okay maybe it was undervalued i don't

SPEAKER_135: think so but if we go back to 2019 two years earlier it was probably worth 150 so now we're talking about 100x in 24 months that's a red that's a major red flag but the red flag continues because

SPEAKER_50: from july of 2021 to october of 2021 august september october three months later the billions business were 25 billion so they had 7 billion in market cap they added a peloton in market cap that doesn't make any sense and then molly we go from october 21 to january of 2022 so november 2021 2021 december 2021 three months later they're adding another 7 billion so this company every

SPEAKER_01: three months at seven billion dollars in market cap while crypto is going down in value during those

SPEAKER_65: last three bumps during those last three sure i mean it did go bonkers we should acknowledge at least that crypto did go absolutely supernova during the pandemic however there were also players coming in every hour yeah and so it's it's hard to imagine that one company was able to snap up this much value and this much market share and grow this fast also i mean look maybe it's fine but ftx is

SPEAKER_241: incorporated in antigua and barbuba and barbuda and moved its headquarters from hong kong to the bahamas

SPEAKER_409: in 2021 i don't know like there's just this whole i don't know red flag i don't know why that seems like

SPEAKER_25: red flag but it does like why aren't you just incorporated like in delaware like everybody else

SPEAKER_28: it would be because of regulations moving out of hong kong would be to get out of the chinese government which could seize your business at any point in time like they've done uh and change the rules so that makes sense then the next logical place to go would be america i guess or london you know two capitals of finance in the world but we have a little clip should we hear why we apparently have a

Jason Calacanis: 38 second clip to find out why here's the founder sam explaining why to need to to move the company

SPEAKER_417: away from hong kong and and how significant are those factors behind the decision in in terms of

SPEAKER_419: hurting the future of crypto yeah so i think the biggest thing that we're thinking we'd never had a single sort of formal headquarters before um and we were really excited about establishing one in the muhammad i think the biggest things first of all they passed a really progressive forward-looking bill regulating the crypto industry there it's one of the only countries in the world that has a comprehensive licensing regime for crypto exchanges that's really exciting um frankly the lack of quarantine to get into the country is really important it means that we can get in and out

SPEAKER_24: that we can have business meetings okay i can't buy it um those are some good reasons i guess um i don't know man very strange this is one big red flag so from ftx's website another wrinkle here ftx does

SPEAKER_28: not on board or provide services to corporate accounts of entities located and established in or residents of united states of america why not cuba crimea sevastopol iran afghanistan syria and north korea we understand the authoritarian uh you know blacklisted countries there uh but

SPEAKER_45: why wouldn't they but also the united states but also we're putting the united states with north korea and afghanistan and syria and iran really something weird there i think they don't want to

SPEAKER_135: be involved in any u.s regulation so okay i think looking at this business it could be on the up and up it could be they just don't want to touch americans because they don't want to get dragged into

SPEAKER_28: regulations which is a bit of a red flag for our sec which has not defined clear rules yes ftx has a u.s focused division which is independently set up to comply with the u.s laws and corporate structure requirements and that business is worth 8 billion okay so i guess they've separated out the businesses because they don't want one to touch the other uh that actually makes sense i do think the united states needs to be super clear on these and i think the clarity should be listen if you're raising these things their securities unless people are actually using the tokens in the ecosystem it's very

Jason Calacanis: simple i really want gary gensler to come on our show i'm sorry go ahead we should i mean i think

SPEAKER_02: it's an open invite but just as a concept here if you buy a utility token here's here's an easy test and i know that crypto people are going to flood my replies here but uh you know explain to me why i'm

SPEAKER_50: wrong if it is a utility token and it's used and it's not for speculation then there should be a requirement that you have that utility token and you use it as a utility within 24 months of buying it

SPEAKER_28: or the product or service being offered in other words if there are miles if if people were buying and selling airline miles molly and never cashing them in for gift cards or flights lights you would say that person is involved in them as a currency would you not they're speculating the same should be true of crypto and so you have to prove that you've used your utility tokens and you're not sitting on them so you have to use your utility token every two years so it makes sense that you could stockpile miles for a year or two but if you're stockpiling miles for three or four or five years that would be a very fair test and then anybody else who buys them they are buying a security therefore it's under securities law so i'm not saying you can't buy them but you would have to buy them under a different designation so you're buying the coins to play the game great you have to put the quarters into the arcade machine if you're buying them to do smart contracts to buy nfts you have to actually buy nfts but if you're buying them for speculation a different rule and then always i think under 10 million a year i've been talking about this for a while uh or maybe let's make it 100 million you can raise up to 100 million for every any project every year but no person can put more

SPEAKER_00: than ten thousand dollars of their average two-year tax return into that project like an event well and

SPEAKER_65: so then as it relates to ftx if ftx if those rules were clear and this exchange knew that those were the rules under which they could operate it would give them the regulatory clarity to know like to be able to operate the business as a whole in one place instead of have to segment it up the way it has been doing we should point out that the us business does have a board of directors so in my good news the us derivatives business um has a board of directors chaired by larry e thompson who was previously general counsel of the depository trust and clearing corporation so it seems to be taking

SPEAKER_75: different approaches for different businesses in different locations some of which maybe have more

SPEAKER_109: oversight than others but this is a trend and so uh pitch book which is a great service my friend john gabbett uh started it the financial times broke this down with pitch book data over 400 cryptocurrency

SPEAKER_28: startups have raised a series a without raising another round of funding over the past few years which could mean they went out of business or they're zombie startups but it more likely means they've been raising through tokens and non-dilutive funding right half of those had only one or two directors on their boards according to analysis by pitch book so that is a big red flag you know when you have to raise a series a you should have a five person board generally one or two of the founders one independent one or two investors is how it would break down you should have five you shouldn't have three you don't need to have seven or nine or 12 or whatever odd number 11 15 that would be public board area so five is the right number and so these have roughly half

SPEAKER_109: or 80 percent less it could also be pitch book state is not perfect because they can only go on what information is given to them but uh yeah there's red flags all over this and it's gonna i think we were talking about this on thursday when we had lana for this week in streaming that we will see in five years a wave of cryptocurrency scams becoming made for tv movies absolutely and also that we may see

SPEAKER_65: another wave of that we've seen over the years like after the dot-com bus there was you know every founder had to have a grown-up in the room then a lot of power returned to founders now you're seeing a double whammy in crypto of it so hot and exciting that you have power returned to founders and the governance contingencies effectively like i won't be i won't give you a board seat so that you can take my money faster and that we're likely to see a pendulum shift as a result of that too to like

SPEAKER_134: more and you will also see you will also see a repricing of all of these projects yeah just like

SPEAKER_109: we saw a repricing of all the growth stocks uh over the past you know six months in the public markets so what we're seeing in public markets is being reflected now in private markets and will eventually make it to the crypto markets uh this level of uh as brad gerstner said on all in last week or over the weekend uh this red bull high is not coming back uh for growth stocks it's going to be a return to the five-year mean and we'll see something similar crypto and by the way if you're

SPEAKER_28: in crypto and you have one of these overpriced projects sell as many tokens as you can now just

SPEAKER_02: like people who were in some crazy dot-com company should have sold it or people who were in some crazy growth stock over the last 10 years should have taken some chips off the table take some chips off

SPEAKER_10: the table uh it's my best advice if it was like a family member i'm not giving financial advice but

SPEAKER_52: definitely that's my financial advice to a family member full perfect disclaimer i can always give

SPEAKER_02: um this is what i would advise my brother and just to be clear ftx is raising not in a token sale they're raising from venture capitalists the most sophisticated investors on the planet who do not need protection um are making this crazy bet of no governance period full stop so you don't have to

SPEAKER_10: worry about them you know they are making these decisions with eyes wide open with apparent

SPEAKER_351: people's retirements and endowments from giant universities or whoever put money into these as

SPEAKER_28: lps i mean lps wake up i mean if i'm an lp i'm literally having an emergency meeting with all of my crypto related funds that i'm lp-ing and saying whoa i was just watching this week at startups and

SPEAKER_263: molly jcal we're talking about no governance can we do a governance review on every project what's

SPEAKER_05: happening yeah what is happening proper governance people then we don't have to make tv shows i'm

SPEAKER_263: sorry to hollywood because if proper governance comes back it's gonna be a lot less drama on these

SPEAKER_463: tv shows it's gonna kill streaming we can't have proper governance because we need the ip so i mean

SPEAKER_03: imagine imagine that or another marvel sequel what do you guys want what do you want well imagine the

SPEAKER_02: imagine veranos had proper governance and they had told um balwani and elizabeth holmes okay you're gonna be you know vp of product and you're gonna be v you know chief visionary officer and we're bringing in a proper ceo the proper ceo would have been like give everybody their money back but they

SPEAKER_135: didn't and that company did have proper governance it just had poor governance like they they made they

SPEAKER_469: made a mistake but they could have ousted her and they didn't exactly they were rolled they got

Jason Calacanis: rolled by their ceo also for like a nanosecond i thought you said imagine if thanos had proper

SPEAKER_472: governance and absolutely governance he wouldn't want to kill half the people in the world

SPEAKER_27: statistic maniac he would have wanted like two of the infinity stones not three the infinity stones are the board members you give all five infinity stones to one person they snap their fingers that's it somebody make me somebody make a meme a meme of literally literally zuckerberg collecting

SPEAKER_351: the infinity stones of everybody's voting shares peter teals excels and then have zuckerberg snap his

SPEAKER_00: fingers it's genius i mean that is freaking genius i'm coming in hot today with the double coffee coming in hot all right so we do this one last story about apple and it's uh i think it's kind of it's arguably the most interesting one and then i'll go to the molly uh hot tub story i think this is

SPEAKER_04: fascinating and i'm not exactly sure how i feel about this idea that no one can afford anything and so every single thing needs to be broken up into payments and yet uh it makes things pretty

SPEAKER_65: accessible okay let me tell you what i'm talking about last week bloomberg reported that apple's

SPEAKER_75: working on a hardware subscription for iphones and ipads bloomberg's sources were people familiar with the matter and a spokesperson for apple not surprisingly declined to comment but this would

SPEAKER_65: make device ownership similar to you know paying a monthly fee now i actually think this is something that apple well isn't this what we already talked about first of all but this is something apple's already doing like people effectively buy an iphone as a subscription plan now anyway and it seems like apple's saying let's just maybe if you're talking about with their apple cards like when you

SPEAKER_223: go to buy you check out if you have an apple card they offer you monthly payments right or if you

SPEAKER_65: buy it through a carrier i mean this is how most americans get phones nobody buys like phone outright anymore everybody gets it on a monthly installment plan apple installment plants which is a designation that's different that's different got it from subscription so in this case i guess it would be like it's a subscription you just pay for it and then every two years you trade it in god help the planet uh maybe apple ends up making a little more over time i don't really know because people would pay for this for two years instead of reselling that um but it would make device ownership similar to paying a monthly fee which is also something that was floated informally by uh the

SPEAKER_135: new peloton ceo right and we lauded uh the new ceo for that it makes total sense because what a lot of people are doing myself included is uh and you just said you did this now i you said why wouldn't i take the zero it's like zero interest right zero interest so why wouldn't you take it i didn't take it and i was like oh wow molly's right i should do it um and i will do it in the future and then when i go back

SPEAKER_28: anytime the new phone comes out i trade in because i'm in the tech business and it's a luxury i can afford to do as a tech person it's a business expense i need to do it i want to be on the latest

SPEAKER_135: stuff so i can talk about it here on the pod yeah uh so when i trade it in i typically get 600 of my 1400 back 1200 back so i'm essentially rolling my own subscription yep exactly this would be a formal rolling of subscription which i would put in the 79 a month range which would be 900 a year maybe 1800 over two years so you pay a slight premium or they could do it for the same price it could make it 50 a month which would be 600 by 1200 so it could just be straight 50 bucks a month and they just call out a subscription and at the end of the subscription you go to the store hand in your phone

SPEAKER_28: if it's got any damage you pay a difference in damage but if it's in reasonable shape they just hand you a new one or they just send to the box because i did the box thing and that was delightful

SPEAKER_65: too just put it back in the box and send it to them that is awesome what's interesting too is that apple

SPEAKER_04: recently got me with they sent me a little notification they were like hey you're paying like

SPEAKER_65: 27 for some apple subscriptions but not all and if you want to save money you can bundle them all together for 29 bucks and now everything that apple makes like the apple cloud bundle or whatever you

SPEAKER_01: get i was like cloud oh yeah news you get arcade you get apple plus you get fitness and i think you get

SPEAKER_492: music maybe your books oh yeah maybe itunes music too yeah i did that i did it for my family

SPEAKER_28: and i i don't know what it costs but i saw it and i was like five family members because i already do

SPEAKER_05: it for the icloud so everybody's devices are backed up on icloud for one price and we all have the same drive because you know when you get two terabytes for the drive and you use 1.2 you're like ah

SPEAKER_02: this is the whole family right so one family member takes a lot of photos and video because the family videographer they take up the bulk of it it's great so imagine if you have that bundle and

SPEAKER_27: then all of a sudden they just toss some hardware in there genius yep genius i talked about this years ago i called it apple prime somebody pulled the uh cnbc clip about apple prime and send it to me

SPEAKER_28: uh but this would be great because what it does is it locks people in you're never going to unsubscribe from amazon prime i don't know anybody who's ever unsubscribed from amazon prime unless they get

SPEAKER_10: married and then they move to account that's the one thing that happens is like people go on a family

SPEAKER_28: plan but this will be the you will never be able to leave the apple ecosystem once they get this dialed

SPEAKER_75: in and then this ensures that those hardware margins which as we know is like all that apple really

SPEAKER_03: cares about i mean it look if this gets us to a point where our subscription to the hardware is subsidizing the innovation that we keep asking for in various ways great right if you can guarantee

SPEAKER_04: that reason to get the damn phone then maybe you can use some of your spare time to like do all these

SPEAKER_65: other cool things like nail the the the podcasting all in one rig or the home video conferencing all in

SPEAKER_28: one rig that jason was suggesting last week yeah the podcasting rig uh i did see uh daring fireball

SPEAKER_293: and a bunch of other folks were uh talking about the new monitor and they panned an mk mkbhd or as i like to call him marques marques marques marques pandit this 5k one and so did um mkbhd oh right hd mkbhd

SPEAKER_28: and the daring fireball gruber uh he's got his own podcast john gruber is really great uh and he panned it they were just like this thing's like eighteen hundred dollars to you know with the swivel to make

SPEAKER_135: it go up and down or whatever and they were like this is a complete waste of money i'm buying it anyway

SPEAKER_24: i did see an unboxing video for mac studio yeah and the guy was like it's heavy i was like oh i want it i was like it weighs more than my mac medium one i want it i don't really want i'm with nebraska

Jason Calacanis: sxhc in the in the notie gang though who's saying like i kind of want to cut out all of these

SPEAKER_04: subscriptions at this point like yes it is getting overwhelming it's overwhelming like all of these makes sense sort of like the news universe all these make sense one at a time like it makes sense that i pay a monthly uh mortgage and a monthly car payment and a monthly subscription to the new york times the wall street journal the economist the financial times and the san francisco chronicle and hbo and netflix and you know when you start to sort of like add all these things up and then

SPEAKER_03: everybody's like no it's cool you can totally get this as a monthly subscription then pretty soon your monthly nut is just like absurd you're an indentured servant to you're an indentured servant to all of these services and i just want a freaking phone and i'm going to do whatever the hell i want

SPEAKER_24: with it imagine apple does come out with a car imagine apple does come out with a television they

SPEAKER_28: already have apple tv with their content now imagine apple decides they're going to make apartments and housing you literally would be spending 67 of your post-tax revenue on the car house and content and

SPEAKER_135: computers to apple i mean that's wow that's actually the start of a dystopian script oh my god let's make a short film where apple does this and then somebody winds up living on the apple campus driving an apple car and they get their pay stub and it says you made uh ten thousand dollars this month uh 6700 to apple

David Friedberg: for your car your home whatever your net pay tax 3 000 in taxes your net pay three hundred dollars

SPEAKER_515: dollars my god it's basically where it's going shiver it's basically right you know that's where it's going it is it absolutely is okay my god i think we did enough show for today i think we did

SPEAKER_43: i think we did all this other stuff is the hot tub story just for notice no i think the hot tub story

SPEAKER_28: can be for everybody so i am uh at the community rec center in my uh ski chalet town and the guy the guy's in the hot tub his wife and they're the kids are playing with each other in the pool hey what do you do oh i sold the company to this company what do you do i have a podcast and i angel invest and oh what's the podcast that's like this we can start i never heard of it all i never heard of it i was like yeah you know we kind of talk about this stuff and we just brought in uh mollywood to be my coach mollywood for marketplace i was like yes mollywood oh my god she's so smart she's

SPEAKER_50: brilliant i was wondering where she went she left and i've stopped listening to marketplace i was like yeah

SPEAKER_10: she's she's on my co-host on this week in startups i never heard of that i was like yeah you mentioned

SPEAKER_522: you never heard of it you're like thanks buddy thanks i was like no it was the wife and she's like

SPEAKER_263: oh we listen to molly all the time she's so smart she's eloquent she's funny and they could not stop

SPEAKER_524: talking about mollywood in the hot tub i hope they're listening to the show right now i did literally

SPEAKER_527: i start trading tax and they're like what's the name of your podcast with mollywood again i was like

SPEAKER_530: this is this we can start i'm serious i was like i've been doing this for 11 years folks you didn't hear a bit and you're in and you live in in you know palo alto and you haven't heard of it i mean

SPEAKER_40: you have to admit national public radio is a it's pretty dope totally other it's a whole other world

SPEAKER_535: that's all about hot tubs and skisha lights i am well no these were like rich elite liberal people

SPEAKER_28: who well they enjoy a little public writing that's all and they are a huge mollywood fan so oh i thought that would make you feel good i love that everybody give mollywood her flowers for getting inducted into the hall of fame on friday uh just once again congratulations uh everybody in the chat just throw up your flower emojis for molly and uh it's been great mondays are always the

SPEAKER_515: best mondays are the best bud days with bolly jcows telly throw up your ems in the chat

SPEAKER_545: hey everyone producer nick here i want to tell you about the sass syndicate if you're a founder of a sass company with a product and market our investment team wants to talk to you head over to the syndicate.com slash sass s-a-a-s to apply to raise from the sass syndicate and you can join jason's syndicate of over 9 000 accredited investors at the syndicate.com producer justin here know a cool

SPEAKER_546: startup check out open scouting.com where anyone can refer a startup to our investment team here at launch even if you don't know the founder if you're the first to flag a company for us and we decide to invest you'll get 5k in cash or 10 of our carry hey everybody producer rachel here are you an early

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