SPEAKER_00: and i lived through a couple of bubbles we've seen this movie before um and and this wave seems very different than the dot-com wave so let's talk about that are you concerned about a bubble we're

SPEAKER_02: seeing bubbly like behavior people it's not it's not the traditional dot-com bubble right because

SPEAKER_03: back then there were companies going public getting crazy valuations and people are buying them and the stock would go up you know 50 100 with companies that had no revenue no traffic no nothing and you'd go get a cab back then and people would be talking about them yeah and you don't you don't

SPEAKER_05: see that at all today so it's not a bubble that's going to impact most people in the room right or most people um across the us but it could just destroy a lot of vcs and a lot of funds and a lot

SPEAKER_07: of pe right because they're going all in apploven started with an eight dollar domain and no vc funding and became one of the largest ad platforms in the world now that same engine powers apploven ads for e-commerce your ads run inside mobile games reaching over a billion people with full screen distraction-free attention the platform finds buyers and optimizes for profit you set the target it does the rest one cookware brand went from 4 million to 16 million dollars turned profitable

SPEAKER_10: and is on pace for 80 million this year visit apploven.com slash all in to launch your first campaign today

SPEAKER_12: it used to be the product managers for brokerages had to outperform their numbers right for you know

SPEAKER_03: the spx or whatever but now you got to outperform to keep the money coming in yeah you got to outperform the the the fun next door and they're all in anthropic and getting their outcomes and spacex and

SPEAKER_17: celebrating but if shit hits the fan yeah it really is like i've only done venture for just over 10 years

SPEAKER_21: and it is wild to watch so many people who deployed at the wrong time just out of business they just invested at the peak and entry price matters and you and i have been in a bunch of deals together and we used to get to investing companies at 5 million 10 million as angel investors and then all of a sudden the request was 40 50 60 and the product's not launched and you know and how does this work yeah

SPEAKER_03: and you know and what's happening now is the market leaders google etc meta they're borrowing hundreds of millions billions of dollars yeah that's interesting and there's already a private credit problem right now right so you you you just layer on private credit like um al capital getting all the um refunds and then you you know you have these huge companies that have cash flow but there's you know they're they're spending all their cap cap um cash flow on capex and then they're borrowing on top of that that's the year bonds right that's planning for perfection right and that's going to be hard and we're building these data centers and you know if there's a price performance curve on ai that minimizes the power requirements there's going to be a lot of data centers that are going to be turned

SPEAKER_27: into pickleball courts interesting because they just can't get the power turned on no and then just

SPEAKER_03: the power just everybody thinks that okay there's going to be so much more utilization and there will be right it'll just scale like everybody expects but there's going to be breakthroughs and technological breakthroughs as well just like we saw fiber back in the day it was all about putting in fiber then it went from one gigabyte fiber to 10 to 100 gigabyte and then there wasn't

SPEAKER_31: a fiber problem anymore there wasn't a bandwidth problem it was quite the opposite we had dark

SPEAKER_33: fiber that people bought use yeah for pennies on the dollar and just sitting there right and how

SPEAKER_03: is it not going to be the case that we don't get the same price performance improvements on the ai side and on the data center side yeah and then with all the hate going against the data centers i think that could be you know protecting them and i mean spending committing tens of billions of dollars for 10 20 years going out yeah i mean nobody can predict that well i mean you're you used the word

SPEAKER_40: pricing to perfection i think earlier in the conversation and that's really what's happening i mean you have to have a thesis that we're going to put a hundred you know open ai uh a hundred billion

SPEAKER_00: dollars to work and that's going to come back not just in revenue but it has to come back in earnings

SPEAKER_02: margin dollars yeah yeah it has to be profitable yes and you just don't know you know and i'll tell

SPEAKER_28: you the other in terms the corollary for um bubbles right in this particular bubble because it's so driven by private capital there should be a lot more companies going public not at the spacex level for

SPEAKER_03: not open ai not anthropic but the hundred million dollar um ipo yeah because if ai does what ai knows we all we we all know what it'll do in terms of disruption yeah then you want to have um some sort

SPEAKER_28: of um currency that allows you to buy all those companies like you guys were talking about buying different um legal companies yeah right well if you don't have that currency the stock is currency yeah you're going to have to go out and raise money to do it and if anything happens and that money is not

SPEAKER_03: cheap that money is really really expensive versus if you go out and you do a hundred million dollar ipo or a 50 million dollar ipo and you can do a secondary whatever as many times as you need if you're performing but the minute that company that you're competing with that is a legacy business can't keep up or there's some other company that has domain expertise that you need or data that you need like you guys were talking about yeah you want to be in a position to buy them yes that is nobody's forward thinking yeah no one is forward thinking like that at all and i'm like trying to tell

SPEAKER_02: my um my portfolio companies go public go public yes they just don't think that's the right thing to

SPEAKER_58: do well an m a is you know not to make this political but you know when you're an entrepreneur

SPEAKER_40: you have to play the game on the field m a was off the table lena khan had a certain perspective which was we have to be like precogs in minority report we have to predict who's going to be a monopoly in

SPEAKER_01: the future and stop them now it's like okay consideration with to compete with china and

SPEAKER_40: everything else that's going on globally yeah right four years of no acquisitions i mean the people i talked to who were in corporate development were like we've been told to stand down yeah

SPEAKER_28: because it's not where we are where we are right but even so right it's you know with mergers and acquisitions that that scale fine but if ai does what we know it will do the companies that are disruptive don't have to be enormous companies no these are you don't want to have to always raise cash to go out there yeah it's such a good insight like right because like back in the day back with broadcast.com we bought like five companies just yes and then there was always a bigger fish

SPEAKER_58: to come yeah which we were happy to you know yahoo yeah yeah the famous caller uh if you were a claude employee if you're at anthropic or at open ai is it uh time to start thinking about the

SPEAKER_28: collar to try to think about yeah yeah pairing the you know i collared my stock because how rich do i need to be right you know and if you if you're able to change your life if i work for any spacex

SPEAKER_03: any of them whatever i'd be like you know somebody put together a collar for me yeah you know because i just need to be protected save part for my upside but just cover my downside yeah and when you

SPEAKER_02: did it you had to like um actually orchestrate that right it didn't exist as a product no it didn't so i had to actually create an index of internet stocks i had goldman sachs create an index of

SPEAKER_05: internet stocks and i thought sucked and then i shorted that index because we and we had to follow all the laws and i just had to have that short in place until i was able to do a real caller in the market on my yahoo stock yeah and i lost tens of millions of dollars on that short yeah but i made up

SPEAKER_76: for it yeah i mean one of the great trades of all time uh what do you think the the this wave of

SPEAKER_21: capabilities in ai i'm sure you play with it because you've always been a tinkerer yeah so maybe what are you tinkering with and what do you think um is going to be the most world changing

SPEAKER_00: you know in the next five ten years for entrepreneurs for society where do you look at it and go hey

SPEAKER_05: this is truly meaningful yeah okay so ai is a lot harder to implement than anybody expected for sure

SPEAKER_28: right you know you can do an agent pretty straightforward right yeah you can prompt away you know we cheated on tests we you know cheated at work you know did projects improved our productivity 100x right all easy peasy and we just assumed you know at the enterprise it'd be just as easy it's hard yeah and it's terrifying and not terrifying for employees because dario and everybody's saying 50 percent of white color people are going to lose their jobs here we are two years later they said within two years yeah and you know employment's still growing people are hiring we need more ai literate people right so ceos have no clue what is going on none whatsoever and that's not going to change right and so you know trying to explain to them that you need to add a harness to this you know all the yeah no chance right and if you think about it from an ai perspective if ai we're talking about you know agi and we're talking about taking over the world if you can't you if you need to have forward deployed engineers that tells you all you need to know about ai because by definition you should just be able to ask ai to do what i need you to do and ask and tell me how to implement it right yet here you have microsoft hiring 6 000 people right you have anthropic open ai all saying they're going to deploy to these companies which tells you ai is hard and then you have alex carb from palantir freaking out saying how can you give your alpha to these companies when in my opinion he's just saying they're doing what we're doing right yeah we're we're all about forward engineers

SPEAKER_94: and volunteer and they're doing the same thing uh it and again it's a great insight because you can if you're using it as a search engine or you're making your little agent to you know go to your

SPEAKER_21: cron job okay fair enough it's it's going to work you need to be have a little bit of systems thinking but when you start putting into the enterprise and you know this is mission about the little bit of

SPEAKER_03: systems thinking because that's the second part and i'm not trying to on ai i love it i invest in it it's going to be amazing it's the most impactful technology that we've ever seen and may ever see

SPEAKER_28: right but try going into cloud or chat gpt and saying okay i just want you to do this search for

SPEAKER_03: jason calacanis investments and i want you to report and i want you to email it to me every week

SPEAKER_28: yeah you can't do it can't do it and then it says okay would you like for me to do an agent that gives you alerts and then you say sure and then you have to know how to program because it either gives you a json file or it gives you you know code and it comes out slop and yeah then you have to not correct right you have to reiterate you know if you want to say you know hey let me load a picture in and you tell me if i'm hot or not or is this girl hot what should i say to her you know we're business versions great yeah right but ai is not going to you know take away 50 of the jobs there's just so much it can't do that regular people need it to do yeah right now does that

SPEAKER_03: create opportunity enormous opportunity yes right so like i'm an investor in lovable and we were here this morning talking and um anton was saying that anton was saying that um they people are using

SPEAKER_28: lovable to create 770 000 applications a week a week yeah right and that only 30 of their business is in the us and only um 20 is engineers and what's happening is entrepreneurs to answer your question about where it's going right if you're an entrepreneur like he was saying before there was there's no better time to be an entrepreneur he's he nailed it right because that's where ai is the most impactful no matter where you are in the world they have big utilization in brazil india right if you're in france us wherever you know like i gave i gave it um a prompt like i said because i wanted to see what it would take i was like okay we're going to create an imaginary company that has a button that can record 24 hour video and then i wanted to be able to send it to me every 24 hours and i want you to create a patent and a business plan and tell me what um licensing or whatever i need 12 minutes yeah wow like did just know we've started tons of businesses yeah six months to get

SPEAKER_33: a prototype 12 months to launch it yes and then you have to and then i asked for a bill of materials and

SPEAKER_28: the source companies like the basic stuff to be that the blocking and tackling stuff that every company has to do at you know when you're setting it up and early in its life cycle done done and even if it's wrong so what because the one thing you and i both know and everybody in the room should know

SPEAKER_18: every single mother business plan ever written in the history of business plans yeah is wrong of

SPEAKER_22: course yeah it's it's a thought exercise that at least gives you some sort of direction you're going

SPEAKER_28: yeah there's some guideline and a template for you right but it's wrong yeah so what if the ai is wrong if the model is wrong you know because you're going to learn and you're going to iterate but it's still again all this talk about taking white collar jobs is ridiculous when it can't even do the basic yeah right and you have to have like you said a programming mindset yeah in order to be able to iterate and figure it out and like even you would think if ai is advanced as we want to believe ai is right now all the errors that we get when we ask it to do a project it would learn from all those errors and even

SPEAKER_03: have hey i'm claude i see you have a problem with this right and it failed on these three attempts let me just tell you what 97.6 of the other people who ran into this did right and then it would fix it

SPEAKER_28: for you it doesn't even do that it just says failed right or says whatever you know again ai is amazing

SPEAKER_40: and particularly for programmers it's game yeah when you have a narrow data set like code or legal

SPEAKER_28: it's just tax it's magic yeah and it's just math right basic data right but when you want it to do when normal people anywhere in the world want to use it for normal stuff great you start a business great but if you want to start getting advanced it's like figuring out powerpoint used to be or excel right you always have to have your excel expert you know or your power in your company yeah or whoever that you knew right or there would be companies built um i've invested in like a company that slideshare that all they did was have powerpoint templates that you could download and redo and it's not even that advanced for you know once you get to the second level and so that creates so much

SPEAKER_03: opportunity for anybody to walk into a small medium size even large business and say hey i understand ai

SPEAKER_28: i have a basic computer background or better and so all these fails that you're running into across your your your company big or small i can help you fix them because what ai can do once those

SPEAKER_03: issues are fixed is phenomenal yeah but even better if you're thinking as an entrepreneur to start a business those things will eventually break agents get bored right and they drift because as the

SPEAKER_28: underlying um large language model starts to change the way it was originally programmed doesn't match what the the large language model turned into right you see what i'm saying yeah and so you and you even wrote something about this right where it's taking more people to manage all this stuff

SPEAKER_123: starting a business usually means juggling a bunch of different services just to look legit not anymore with northwest registered agent you get a complete business identity all in one place a business address domain website phone number and more with privacy protection built in from day one don't spend hundreds or thousands on services you can get from northwest for free visit northwest registeredagent.com slash all in free and start using free resources to build your business today

SPEAKER_40: i'm trying to get the whole firm to be ai first and even with young people it's like one group embraces it and you know they they solve you know i don't know let's call it five or six really pressing issues the other group is you know not embracing it and the the difference between those ai first employees

SPEAKER_00: and the non-ai first employees the gap is like whoa it's almost like when we got into the industry

SPEAKER_125: and somebody knew how to use the office suite in a pc right and then somebody else was like on legal pads it's like that much of a difference it's so stark people who are ai literate yeah what when do they

SPEAKER_00: run into a ceiling well you know it's what i'm seeing is a lot of tool hopping which i it's a good question because they started with open claw they started building it it got brittle does anybody still use open claw who's open claw anybody using hermes agent okay there you go who's on claude co-work and then oh whoa and perplexity computer anyone okay interesting those are the four that people have been bouncing around on and what i decided to do is i was just like hey token max it you can each spend a couple thousand dollars a month i don't care about that i just care about the gains and they all wound up um going from open claw all the agents started breaking it's hallucinating it's like too frustrating they started using clawed co-work okay great um but kind of limited and then they started using lovable and they built intranets for the venture business

SPEAKER_21: that no venture business would spend a half million dollars and 12 months building an intranet like you'd just be like i'm gonna put it in notion google sheets whatever and then they just started building more and more software so i have two or three people who are building software that i would say five years ago we would have spent maybe two or three million dollars a year building this with that outsource company you just would not have done it which means we wouldn't have

SPEAKER_132: done it right you were just about the sas application that did it and then we would have

SPEAKER_21: tried to like shoehorn it into a sas app and customize it it it wouldn't have worked we would have given up but how are you going to manage it now once they get there well you know i again

SPEAKER_00: to your company lovable which man congrats on that investment because that company was going to go

SPEAKER_46: out of business four times and i told anton every time they say you're going out of business you add a hundred million in revenue yeah 600 million in revenue and four times 200 million 300 million oh

SPEAKER_132: yeah it's going to be absorbed into the frontier models of the world right yeah i mean i've got

SPEAKER_28: lovable i've got synthesia.io oh yeah i was the first investor in nice 10 years ago maybe that that are just it's just killing it right i've got ami which is yana coon's world model yeah we haven't even talked about world models versus llm and transformers right because everything we do is built on text and pictures yeah nothing's going to be text and pictures in 10 years right and but what's going to drive it and like people say well ai is so smart it's going to change everything i'm like okay if you tell ai if you show ai a video of a two-year-old on a high chair with a sippy cup the a the two-year-old knows if you push the sippy cup over the edge yeah mom's going to come running and the ai's the kid's going to start laughing yeah ai's got no clue what's going to happen yeah none right would you if you're at a corner blindfolded and you have to cross the street would you rather have a video would you rather have your phone with ai or would you rather have a cni dog yeah dog i'm taking the dog every time of course

SPEAKER_146: yeah it's not ready right yeah it's not ready so just think about how far we have to go yeah you

SPEAKER_76: know and all the huge opportunity though i mean the world models are crazy because you have videos available on youtube and just we have the world there so that's not enough it's not enough they

SPEAKER_02: have to wear gloves and you're now they've got people in manila like doing recipes i invest in

SPEAKER_28: the company matter.com and they're launching satellites just to take and they do spectrography where they take um use the satellites to take videos of everything underneath them and use a spectrum i don't even understand all this in order to be able to convert it into a world model that will provide algorithms that other world models can use yeah right there's just no way

SPEAKER_94: that the the future of ai doesn't include video well i mean it's it's a a huge part of it and

SPEAKER_00: as the inference and the the back to the build out of these data centers as we wonder what's going

SPEAKER_21: to happen people wanting to use more tokens and then these world building and video man that takes

SPEAKER_03: a magnitude yeah video like if i'm going to be wrong on the data centers it's going to be because of the video yeah right and world models and robotics which is all related yeah yeah and they and robotics

SPEAKER_85: you know it's related but just we still got a long way to go yeah uh health you look great by

SPEAKER_157: the way i don't know what's going on you got the red what do you got reddit true tie what's on the

SPEAKER_159: menu yeah what's off the menu follow me on instagram m cuban i just yeah i'm eating better not i mean you look better now than 20 years ago oh i appreciate that yeah i mean it helps too

SPEAKER_17: right the tam but i mean you look then and fit and yeah listen we're getting up there now we're

SPEAKER_76: not kids anymore um this is definitely going to help uh ai all the work being done and i use it too

SPEAKER_28: like i invested in a company called open evidence yes yeah which is i know it for medical right and um i used it and like i have two i have one supplement i have to take because my iron levels are

SPEAKER_03: low and i have to take this one medication i was taking them at the same time and couldn't understand why i was having problems i've run it through open evidence and i said here's everything i'm taking here's everything i'm eating and they're like no you got to do this you know when you get

SPEAKER_02: up to pee at three in the morning take this medication oh man when you get it yeah no it sucks yeah right i was i was right there with you last night what's going on what's going on right um and so you know

SPEAKER_127: but it's for health it's going to make a huge difference but it's not going to replace doctors

SPEAKER_21: no but i mean it is pretty amazing i don't know are you on whoop or your apple watch i watch yeah yeah i mean the apple the the whoop plus getting your blood test just self-directed health care with ai man you're going to get some early wins and then when you do go talk to your doctor oh you have it

SPEAKER_134: right there right i have it right tested you know now three to six months yeah right and i've been

SPEAKER_118: doing it for 10 years so i know all my trends wow and so you were doing it before function and

SPEAKER_126: superpower like you could go look up mark cuban blood tests on twitter right x and i would get

SPEAKER_127: into it with doctors like eight ten years ago and just saying you're going to need this for your benchmarks and um but it's only going to get better yeah oh it's going to be really interesting we had

SPEAKER_58: this big data moment and it was like okay yeah we're storing all this data but we didn't have any

SPEAKER_21: intelligence against it now that's incredible when apple is now putting that data they're doing studies i don't know if you've been invited to studies on your apple watch i'm like well this is going to get very interesting the whoop just added blood panels yeah so now your sleep data your steps your heart rate your respiratory ekg plus your blood work then if you can get your diet into it as

SPEAKER_01: well yeah that's what i watch has in eye health right yeah so yeah you're just going to get smarter

SPEAKER_03: yeah you know and that'll make your doctors able to be smarter because 95 of medicine is guessing

SPEAKER_28: you know because you can't there's no way a doctor can memorize all the new that happens every single day you just can't but a doctor using these tools having you know the empathy and the ability to communicate and the ability to see yeah right because again there's you can't see yeah you know

SPEAKER_186: you could have doctor you know why am i bleeding you got a blood looks like you got a gunshot wound right

SPEAKER_00: yeah yeah it's not going to tell you that today um when we look at the opportunity here it's going to be a lot of change a lot of talk about wealth disparity in the u.s uh invest america our friend

SPEAKER_58: brad gerstner and our friend michael dell another great texan and uh thanks for welcoming i'm enjoying

SPEAKER_190: my time in texas yeah i mean it's great i love texas man it's fun it's kind of like the heat's

SPEAKER_126: kind of like this though yeah we have air conditioning we do have air conditioning

SPEAKER_58: there there's a record number of air conditioners coming from china to europe this summer you know

SPEAKER_02: i looked at what companies installed them and everything oh you always got a trade you always

SPEAKER_191: got a trade curious but there's no rule sold out they're all being shipped here from china at the moment

SPEAKER_00: um but really interestingly you know feels like entrepreneurship which has been our shared passion

SPEAKER_58: for many decades hey investing another shared one giving people access to public markets invest america we have this dueling narrative socialism in america capitalism and it feels like this is the in our

SPEAKER_21: lifetimes you and i are close in age this is the most fevered we've ever seen it i mean we have states but maybe not since the 60s or 70s i missed that i was born in 1970 you were born i guess 1943 23 23. i always joke he's a brother i look good too don't i look good for 1923

SPEAKER_202: but you know it's this is pretty polarized and what's your take on the the social there's two

SPEAKER_02: things here yeah one all the dsa stuff is local right it's really easy to be mandami and in new

SPEAKER_28: york when you have a budget you get to control it and it's local right you got elected you just

SPEAKER_03: do and you have to balance the budget and you'll see to michigan and wherever else i don't think it's going to be game changing but the more important thing is the people who are doing

SPEAKER_28: this are the people who are best at social media right you know because the algorithms drive how people vote in the united states i can't speak for the rest of the world more than anything else whoever

SPEAKER_05: controls the algorithm controls you know the election in many cases trump knows how to use it

SPEAKER_28: and what what to mandami you know what what is unique about mandami relative to trump he's what 31 32 years

SPEAKER_03: old yep his whole adult life has been trump and social media he studied it and the two together yeah and the kid the guy in michigan same thing so if you if you're good at ai i mean at um algorithm you know driving algorithms whether it's flooding the zone or you know like trump's saying they're eating

SPEAKER_28: cats and dogs yeah it's just attention yeah and it's just you know defining the algorithms because whatever you search for you get more of and if they can get you to search for what they're saying show your interest then you're going to just get mandami 24 7 yeah and you'll get the positive size mandami or if you happen to be on the other side of the aisle and you are you know looking at stuff that's counter to that you'll get more of that we don't like but one other piece i think is starting to change that and that's the large language models the thing that i think will save us as a world more than anything else in terms of um information availability and reducing the information asymmetry as it applies to politics are large language models because large language models have to be as literate or and literal and honest as they possibly can truth-seeking yeah truth-seeking better way to put it yeah so they they have to seek truth otherwise you'll lose trust in them and the last thing you know claude open ai needs is you know they're lying their off about this for yeah their currency is

SPEAKER_21: getting you the correct answer and the correct knowledge social media's currency is keeping you

SPEAKER_28: engaged right it's two different missions totally different missions right and so you're not going to get rid of social media but i think people as they become more uncertain with their politics are going to go more and more and more to large language models and say who should i vote for and the large language models are going to come back and say well what do you think about this what are your interest in this and that and they'll give you honest answers yeah and if you ask it hey what's

SPEAKER_224: a reasonable immigration policy it'll give you a reasonable immigration policy which is like yeah maybe

SPEAKER_226: shut the border and do a point-based system yes like canada new zealand whatever it may be right yeah i've done the same thing and it's impressive very impressive you know my favorite troll now is

David Friedberg: like jd or you know aoc will you know they'll come out with whatever their craziness is on either side of

SPEAKER_21: the aisle and then i'm like at grok please vet these claims be as objective and factual as possible

SPEAKER_46: check your work and show your source and then it just replies to them so i've been just totally trolling

SPEAKER_00: steven miller um oh my god who you know he's like anti-immigration i'm very passionate about like

SPEAKER_228: legal immigration and recruiting great people because you need them we need them yes if every

SPEAKER_21: because you're running a basketball team every time you get dirt and whiskey somebody else doesn't have them on the team you get joe and brunson it's not on the mavericks anymore now he's on the knicks

SPEAKER_01: yep you know like well that's why we come to these things in europe right yes because great talent

SPEAKER_28: right smart people obviously you guys are geniuses for being here you know um but but at the same time there's a different vibe in every european country and india and the whole rest of the world yeah right and i think you're starting to see some entrepreneurs leave us yep to come here and that's scary yeah and hopefully you know large language models seeking the truth will help educate people away

SPEAKER_230: from what the algorithms tell them yeah i think it's like important you optimistic now um it's been

SPEAKER_58: pretty chaotic but we're seeing such great progress you're optimistic about let's start with america and

SPEAKER_118: then we'll go to humanity yeah yeah no i mean you know like every country we have our issues um um just that would be kind of insane um it is pretty wild yeah um but the good news is you know we have

SPEAKER_237: term limits for our president yeah and yeah and it seems like 12 or three terms is going to be the one

SPEAKER_239: for president i mean you're gonna run i mean i hope you do man i would love to be your press secretary and that would be a bet we'd have so much fun we'd have fun we'd have fun we would have fun well

SPEAKER_196: i mean decides to run for a third term then i'll run but he's yeah okay that's good that's breaking

SPEAKER_21: news i mean i uh honestly like um if you think about what we need i think in leadership executives who can i think you know who are like post money post needing to make a living uh no i'm not gonna even go there well and then maybe who are doing it for love of country and maybe some amount of civic

SPEAKER_01: pride or i get what you're saying right and it's just like you know in the us what the democrats

SPEAKER_28: don't know how to actually do anything right you know they know how to take whatever happens and extrapolate that to the end of the world and the end of democracy right yeah but and the republicans on the other hand you know do crazy right like they don't care about the people in the country they don't you know there's no connection to people there's no empathy and so you know we're but um in the short term but i think as we get past this next the midterms and the next

SPEAKER_05: presidential election i think we'll get back to normalcy i think people want it and you know the

SPEAKER_247: thing that has been really eye-opening for me having lived in new york california and now texas

SPEAKER_58: you know in texas we're spent half as much money per sometimes less i think it's two and 2.2 times as much it's spent on each citizen in new york uh and uh we spend half as much right six seven thousand

SPEAKER_178: dollars per person they spend like 14 or something 12 to 14 and uh quality life's better but on the

SPEAKER_03: flip side new york contributes more to the federal treasury yes than texas does and you would think it

SPEAKER_05: should be the opposite right just because of the business and how things are run so they're trade

SPEAKER_01: off yeah but it's it's changing like what do you think about all of us moving to austin and like texas you guys smart obviously for obvious reason particularly you know like the wealth tax

SPEAKER_02: shit is just dumb dumb crazy they tried it here everybody left to work yeah and they did it for about two years in france did they yeah i don't know but you know when elizabeth warren first proposed

SPEAKER_28: the wealth tax yeah so i found and she said well we have these models and everything so i found the economist at uc berkeley and i said would you share your model with me or at least tell me about it he goes i'm like was it more than one year and he goes no it's just one year i'm like did you do any behavioral analysis to see how people would respond to the changes yeah no and so you know

SPEAKER_31: whether it's mandami elizabeth warren whether it's california it's it's showmanship more than reality yeah

SPEAKER_17: and i think people are forgetting that people are mobile you know like uh us yeah in the u.s

SPEAKER_58: it's pretty extraordinary you got travis sacks myself elon just a bunch of folks have all of a sudden just shown up i was there first you were i remember talking to you about it and the thing that's amazing to me is you know in california they won't let you build anything and then we go to

SPEAKER_202: um i come to texas i buy a ranch and i asked the guy like hey can i like put a solar farm in here

SPEAKER_01: he's like on your ranch i'm like yeah here he's like oh son it's your ranch you can do that it's like can i can i like build like trust me in the cities themselves yeah i do that in the city of

SPEAKER_202: austin i mean but just outside of it you can build whatever and the housing prices have gone three three years in a row housing prices and rents have gone down when you build a company in austin now i'm sure it's like that in dallas and houston and san antonio when i have founders move there the entire pressure is released people can own a home and i was like wow is that why do people still

SPEAKER_21: go to silicon valley that's like drives me i i think if you're a first-time founder nothing better in terms of soaking in it but when you're a second time you're soaking in it but what they don't tell you the it right yeah it's tough i think second-time founders have now realized

SPEAKER_01: if i build it in texas or nevada or florida i'm gonna just all the talents in the silicon valley

SPEAKER_28: just sets people's heads so wrong yeah right so whether it's travis mike by the way i've known michael dell since we were 22. yeah and i used to do business with him way back when um but just

SPEAKER_132: in texas it's just like build your company and go yes in the valley it's like so are you series a

SPEAKER_239: are you yeah are you serious a lot of distractions yeah 25 years i've been waiting for my knicks

SPEAKER_159: and to win a championship and and you played a significant role no the spurs significant role they should have kicked your ass and why didn't they why didn't i think it was coaching

SPEAKER_05: lack of experience yeah you know because you're up put aside the 29 right you're up in the fourth quarter of every game wendy throws it into the back of some guy misses two free throws daren fox

SPEAKER_132: goes the wrong way a lot of mistakes yeah and you'd be talking about firing mike brown i mean it was a

SPEAKER_76: we were concerned when he got hired and getting rid of tibbs and oh my god but jb was the real deal

SPEAKER_05: right yes my indiana boy og right yeah he you know he saved you guys so yeah uh and you had jalen

SPEAKER_61: brunson yep um he left and that was kind of destiny his family wanted to come that's what he wanted i

SPEAKER_05: mean i could show you a text where his agent you know text me says he wants his own team he wants

SPEAKER_285: his own right yeah he was ready to go and i i texted or emailed you and i said what's the story of the this is what we're gonna base the franchise on you said he's really good he's the real deal i love he's a

SPEAKER_259: great guy that's the best part about jb he's just really a good human i i was there uh for the fifth

SPEAKER_285: game six rows behind the bench that's cool and man i i just cried i just cried it's been so many years

SPEAKER_288: and you got your chip too with dirk yep it's so amazing how sports plays such a role in so many

SPEAKER_01: people's lives yeah especially now look at the world cup i mean it's just like sports has just

SPEAKER_03: changed everything and you know like i've been to four world cup games in dallas and i hate soccer football right right i hate it but just the whole scene the vibe the energy you can't beat it's like

SPEAKER_296: going to a knicks game going to a maps game same thing yeah and the nba is is it peaked it it sounds

SPEAKER_03: like it's hard to say i mean yeah you know for fans no because i mean it just grows on social media you know i went um i was walking in paris and there was a basketball store you know and had wimby jerseys and gobert jerseys and everything and so i mean it's just growing globally yeah is wimby the real

SPEAKER_05: deal yeah he's got he got humbled though yeah which is good for him it's like dirk in 2006 got humbled and came back better wimby will come back bigger stronger better yeah it's amazing how he went from

SPEAKER_17: this like incredibly i don't know there was a there was a magic about him to no he's a villain and he

SPEAKER_02: turned into a villain because it was new york yes some years right and just the circumstances and

SPEAKER_03: you know san antonio thought they had in the bag everybody it's like i went to indiana university right and if anybody here follows college football in the states like we were the ultimate underdog we

SPEAKER_28: had not had you know we had not won 10 games we had we beat more top 10 teams last year than we did

SPEAKER_05: in 100 plus years of the program and so that that just changes people's attitude you were very much

SPEAKER_76: involved in rule changes and what we're going to get on ai next but it's just great to talk to you

SPEAKER_17: about this since we're both such super fans of the nba seems like the rule changes the apron and you know how punitive it is has created a lot more parity uh in the league and nobody knows

SPEAKER_03: who's gonna win like well because you have to break up your team right because at some point okc will have to break up their team that's why they collect all the draft assets because you can't have three max players no and if one of them turns out to be hurt or not what you expected then you're in deep right and so the second apron is just a complete game changer and you have to be so much better at putting together a team than you were before and you have to get lucky like the spurs have when be on a rookie contract you know um the the okc has got no hatchet on a rookie contract he's not on a rookie contract any longer so they have to be even more careful and so it really changes

SPEAKER_310: the strategy behind building a roster so we we're going to see back-to-backs or any more chance no

SPEAKER_40: chance no i it's mainly back-to-backs but not a what do they call when you have three the three p

SPEAKER_05: three p yeah there can be back-to-backs like you know um if jalen jay williams um j-dub hadn't gotten

SPEAKER_134: hurt for okc i think they would have beat um san antonio and i think they would have beat the nets i was

SPEAKER_40: worried about them versus the nicks i knew we could beat the spurs but i was concerned about

SPEAKER_202: not know you could i knew it would be come on we beat them two out of three of the games of the year we spanked him i knew it would be like i said nixon six it was nixon you guys barely beat the

Chamath Palihapitiya: hawks and then oh come on now we we were tweaking the offense and we just had to get cat to buy in

SPEAKER_58: us anyways let's talk ai let's talk um but it is so great to be a champion god it was where's your ring they didn't give you they didn't yet no i'm gonna get it at the ring sir you got one

SPEAKER_319: i you know i always was like man i gotta follow cubes and get you know a piece of you don't tell

SPEAKER_202: me you want to buy a team i always wanted to get like a you know a piece of the knicks and now it's like my net worth doing great the value of the team disconnected from reality i mean my only chance

SPEAKER_28: is to call like elon and be like part about um the valuations is it's not driven by attendance it's not driven by wins or losses it's driven by subscriptions to streaming services and it's going to be interesting to see because it used to be we looked at ratings tv ratings yeah and people

SPEAKER_03: said the nba was underperforming versus everybody else now the next play obviously there's some pent-up on demand there but what really matters is the number of subscribers peacock gets espn gets it's

SPEAKER_05: the ratings sales but it's more subscribers i mean i literally had to subscribe to like i think one or

SPEAKER_01: two more services that's the whole point right and did you keep them is the question yeah i'll keep

SPEAKER_05: them sure i mean there will be churn if there's churn who knows what happens with valuations if

SPEAKER_331: there's not valuations keep on going wow it's so crazy all right listen there's your uh 45 minutes with mark cuban the one and only