SPEAKER_01: Hey, everybody, welcome back. It's going to be a big week. Happy Monday, big week coming on this

SPEAKER_00: week in startups. Yes, Amazon CEO Andy Jassy is celebrating his one year anniversary in the New York Times published a very interestingly timed piece about his lobbying efforts.

SPEAKER_06: And we believe that this may have been placed as part of Amazon's campaign against some regulatory scrutiny. Good follow up from Friday, where we talked about those reports of Amazon canceling its private label businesses, we're breaking down some pending legislation, and what it might mean

SPEAKER_09: for all the tech giants. And then we cover the boom in remote workers getting incentives to move to

SPEAKER_11: Tulsa and other places around the country. Turns out there's over 70 cities right now, throwing money at tech workers, and it's working, they're moving. Really interesting to see that team Tulsa, and we

SPEAKER_12: get into an awesome new company called Phaedra in our series A segments and former deep mind engineers started an awesome machine learning company focused on energy efficiency.

SPEAKER_17: My heart. Yes, don't cry, Molly. Don't I know you like to cry. Don't cry about that. Okay, it's

SPEAKER_22: joyful. But yeah, we wrap on a great story about retail investors that are having the same observation I'm having, which could be correct or not, but they're j trading. And they're starting to put money into the stock market, because they think it's a unique opportunity to buy this is not financial

SPEAKER_24: advice. But I'll be j trading the whole week here on this weekend startups. In other words,

SPEAKER_22: doing live trades on the air that you can follow along on in your fake portfolio account, you do not need to follow my trades and make bets when I make them. And if you do only bet money, you can afford

SPEAKER_31: to lose because I'm going to be making some really crazy bets. It's gonna be a great show. It's gonna be a great show. Stick with us. This Week in Startups is brought to you by LinkedIn Talent Solutions. A

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SPEAKER_06: to get 20% off your first six months. All right, this morning, this is very interesting because on Friday, we covered this Wall Street Journal reporting that Amazon was considering shutting down its private label brands. And Jason was like, this is how you take the sales wind out of the sales of regulation. Thank you. So this morning, then the New York Times published a profile of Amazon CEO Andy Jassy interesting timing, interesting timing on his one year anniversary of becoming CEO. And yes, the really interesting part is like Bravo Amazon PR team for shaping this story in the direction of

SPEAKER_04: talking a lot about how Jassy has handled his time very differently than previous CEO Jeff Bezos. For example, okay, Andy Jassy has been very focused on increasing Amazon's lobbying efforts in DC visited

SPEAKER_06: Washington at least three times to traverse Capitol Hill and visit the White House. In September, he met with Ron Klain, President Biden's chief of staff. He has chatted with Senator Chuck Schumer, the Democratic majority leader to lobby against antitrust legislation talked with Senator Tim Kaine, a Democrat from Virginia about Amazon's new corporate campus in the state making friends on the hill. And it seems to be working. Senator Tim Kaine told the New York Times that Jassy was diplomatic rather than quote, out to bowl you over by force of personality.

SPEAKER_42: That's a sub tweet of Bezos. That's a big giant laugh. And you know, Bezos, I've told people is going to run for president. I made this proclamation on the all in podcast the other week, my other

SPEAKER_11: friends over there laughed at me told me I'm an idiot. But I, I will be proven correct. Number one, he bought the Washington Post. Number two, he built he bought the biggest house there. Number three, he's

SPEAKER_15: been retweeting Biden and four, he's been giving all his money to climate. And five, his ex is giving a ton of money. And, and he did all that Hollywood stuff. All of that was to increase his profile.

SPEAKER_47: You'll know that Bezos is officially running when he drops his autobiography, or he does something like that. But the 10 billion to climate donation, buying the Washington Post, all of this is just a

SPEAKER_15: stepping stone to running for president. I think there's a good chance he would run with Michelle Obama, or somebody like that in 2024.

SPEAKER_50: Timestamp it people. Also, if he wants to be serious about climate needs to dump that mega yacht

SPEAKER_06: immediately. That is literally his anti offsetting everything he does. I read this whole thing about yachts and what giant emitters they are like, I had no idea how bad they are bonkers. They bought, I mean,

SPEAKER_05: it's literally like whatever he is spending on climate, he is undoing or will undo with that yacht.

SPEAKER_55: No, I mean, not that much because he gave 10 billion, but it's terrible. The, the, somebody showed a

SPEAKER_22: picture of, it went viral over the weekend. I don't know if you saw it, but like my friend just, you know, fueled up his yacht in the Mediterranean and he put like 7,000 gallons in it. It's a seven dollars piece. It was like a half million dollars to fill up the tank. It's actually true. Some of these things are so giant, they burn a colossal amount of fuel and sometimes people reposition them. So to reposition them, this is what rich people do, you know, like, okay, it's going to be in the Mediterranean in the summer, but then I'm going to move it down to the Caribbean for the winter. Just doing that could cost a half million dollars in fuel or something. So, uh, but anyway, let's

SPEAKER_06: continue railed us. Yes. Let's keep talking about Andy, but so clearly trying to make friends ahead of regulation and the times also noted that the, the big, the most immediate regulatory threat is this American innovation and choice online act, which has been proposed, but so far has not come to a vote in either the house or the Senate, but it would stop large digital platforms from giving their own products. Yeah. Preferential treatment. See also all the way back to Friday, the Amazon basics thing. It's all coming together. People. It all is coming together. And what I found

SPEAKER_61: particularly interesting about this is there is, uh, an innovation and online choice act, um, that gets mentioned in the story, I believe. And this is something that I wasn't super familiar with, but I

SPEAKER_22: think it's worth us diving into most of us have not heard of the innovation online choice act, but it's a bill and it would basically, I started reading up on it. It basically is for companies. So they have over 50 million monthly active users and a market cap or net sales of over 550 billion. So they're saying like, this isn't for small companies that are scrappy. It's for, this is for the big, big companies. This would mean Apple, Facebook, meta, Amazon, Microsoft. Um, I don't think Twitter wouldn't be in here. Uh, Google, of course would be in there. So this wouldn't include Twitter and

SPEAKER_47: snap as just an example, right? Cause their market caps are, and their sales are under 550 billion by significant amount. So this is targeting like five or six companies. Um, and it basically says that,

SPEAKER_11: you know, you can't unfairly preference your own products or services. So maybe you can walk us

David Friedberg: through this in relation to Amazon, right? Or lines of business. So the lines of business. Okay, correct.

SPEAKER_06: Yeah. So the hypothetical example here, of course, is Amazon putting its basics products at the top of every search by default. It does. It wouldn't necessarily forbid Amazon from creating the basics line, but it would say, if you create this, you cannot unfairly preference it by putting it at the top.

SPEAKER_47: So I searched for a lightning cable. They can't put themselves up top, but if they could explain, Hey, the algorithm is showing our cable at number one, because it has the most five-star reviews and the largest amount of sales, and that's how we optimize the algorithm. They could do that, or they could buy ads in their own network to make it the number one by giving the number one to an ad slot, which is what they do on Amazon already. Yep, exactly. So there's, there are back doors to get

David Friedberg: around this obviously, but this is a starting point, right? It would have to, the unfairly is what's

SPEAKER_06: doing all the work here, right? They would have to be able to prove that it was unfair. Another example is that they cannot unfairly limit another company's products to compete against the platform's own products and discrimination in the enforcement of these regulations. So an example here would be the Amazon marketplace taking search traffic away from another inexpensive t-shirt brand that competes with basics. So again, the unfairly is the key here. It would be like, okay, we make these t-shirts under the Amazon basics brand. This other brand came along third party seller that makes the same t-shirt and we're just going to hide those search results every time.

SPEAKER_22: Yeah. So this isn't a great example on Amazon. The better example might be looking at an app store where we remember in the early days of Apple's app store, they wouldn't allow third party browsers. They wouldn't allow other map companies. And they were like, well, we have those, but then they realized, oh my God, we're getting ourselves the antitrust cross here hairs. And they also wouldn't allow audible. So if you wanted to buy, which is an Amazon company, if you wanted to buy an audio book, you couldn't do it in the audio, the audible app, because that was considered a marketplace and you weren't allowed to run a marketplace, i.e. an app store, a store for buying movies or music on Apple. Right. And so this is the dance that I guess is going on, but I like where this regulation is going,

SPEAKER_11: because this is putting, this is targeting a very specific group of companies and they're just saying,

SPEAKER_03: make it more fair. Yeah. And so there's a lot of, I have a lot of feelings on this, but I kind of like the direction they're going. Yeah. What I thought, what I think is really

SPEAKER_06: interesting about Amy Klobuchar, Senator Amy Klobuchar took the lead on this. She's like, it turns out a really big antitrust nerd and she seems very smart to me. She's very smart. Like I really think she's kind of on the show. I'd love to hear you interview her. Yeah. I interviewed her for marketplace tech when this legislation came out because she also wrote a book on antitrust and tech monopolies specifically. We should absolutely Amy, if you're listening, I mean, Senator Klobuchar, please come on the show. Extremely smart. And what's so

SPEAKER_01: interesting about this approach is that it's, it's really trying to reinvent the way that antitrust is

SPEAKER_06: enforced. And I think that's very clever. It's saying like, okay, look, there should be new standards

SPEAKER_01: that are relevant to these mega businesses. Yes. Specifically. Right. And, and I could imagine right now we're talking about their marketplaces, but there's going to be a time when we're talking about this with respect to cloud services with a doubt, right? Like the data privacy, or even just the

SPEAKER_04: ability to like shut down a business that's that might compete with yours. And here's an example,

SPEAKER_06: like is on the Amazon cloud and Amazon runs a prime streaming service. Why can't I swap out on my iPhone

SPEAKER_22: and my Mac? Why can't in the settings? I say, I want to use Dropbox. I want to use my Microsoft drive. I want to use my Google drive to back up all my stuff. Why do I have to because I pay right now for four terabytes for Apple, some, you know, really large amount of money, but I already have that on Google, right? So why can't I just use one account? Right? Why can't I swap that out?

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SPEAKER_22: something for free. And so I think, you know, I have a couple of hot takes on this. But any anything else we need the audience needs to know about this specific legislation? Or the Jassy story?

SPEAKER_06: Well, the other thing and this would potentially affect Amazon specifically. So one thing we should know before. Well, let me continue on the legislation and then one more thing. It would also include this bill should advance any it would prohibit the use of non public data obtained from or generated on the platform by the activities of a third party business used to support the offering of the platforms. So this is specifically Amazon, you can create a basics line, but you cannot use data from third party retailers to decide which products to launch. And again, this gets back to Yeah,

SPEAKER_22: it says non public specifically on public. Okay. So if anchor makes a really cool or let's do even a better one. Somebody makes a really cool phone case, and it's super innovative. Amazon can look at the public data, it's sales and what the reviews say. Yep. But they can't look at the return percentage, or the profit margin or stuff like that, like the returns would be the great one. So if they were to look at the 6% of people who return that case, and then it said, you know, they asked you why, and they

SPEAKER_47: had 1000 reasons why and it said, Oh, I don't like it, because it doesn't come in pink, or it didn't come in the color I like I want blue, they could take that non public data, and then go make a pink and a blue

SPEAKER_11: one. And basically, just by giving your sales data to Amazon, you're giving them a roadmap to make better product. So this says you can't do that. But what this is really about is Facebook, this specific thing has more to do with Facebook in my mind, you know why? They were looking at all of the

SPEAKER_47: data of what apps people were installing and talking about and what features yada yada. And then they

SPEAKER_11: were copying them. So they knew that Facebook was doing this for a long time. So I think this is as much

SPEAKER_06: about Facebook as it is Amazon. Yeah. And I also maintain that I think cloud neutrality in the future, which is a phrase I think I coined in a wired article to find what that means. Yeah,

SPEAKER_05: I mean, I think we're gonna start to have right now you have basically only three companies really

SPEAKER_06: to with Google as a third that's trying to spend a lot of money to catch up who offer cloud services at scale. Yep. And host tons and tons and tons of businesses on their own infrastructure, right? Right. AWS, Azure, AWS, Azure, and then Google Cloud is sort of the third player. So you find yourself in the situation as a business, a startup, even a pretty big business. I mean, I think for a long time, Netflix is the perfect example. They Netflix was like, primarily hosted on AWS for years. Now I think they do do much more of their own hosting, but Amazon provides a competing service, right? And Microsoft has a million different businesses that can be like if slack were hosted on Azure, which in the early days, it probably was, and could still be, then you put yourself in a position where you're just relying on hope and prayers, that nobody at these big companies is looking at your data and figuring out who, you know, what your feature set is, or who your customers are, or we are uptime. Again, these companies will tell you to the end of time that they're not doing this, but there isn't any specific regulation currently preventing them from doing this potentially this Klobuchar sponsored bill would do it. And we should note that the cleverness of I think this framing in this particular bill is really working and is really freaking out tech companies. They have all increased their lobbying dramatically.

SPEAKER_22: I have three hot takes here. Yep. Number one killer for startups. If this passes killer for startups, because this would make Google have to rethink Google Shopping, Google, local Google flights, and then, you know, some other shopping search engines or search providers would then rank higher in Google Yelp and trip advisor, Expedia, all those places that are all startups. Now they're big companies now, but you would, it would be very hard for, you know, the Googles of the world to shut down those startups. And those startups could say, Hey, listen, they're using our data from the app store, they saw our downloads, whatever, they saw our search results, and they made competing products. And just the threat

SPEAKER_11: of that is going to make these big companies behave better because the penalty was ginormous in here. This legislation started at 15 to 30%, and now they're saying 10% of last year's revenue. And obviously this would be in the United States. It's a big penalty. That's not a speeding ticket. And all of this stuff that's happened previously, we're speeding tickets. You need, somebody has to pay a hundred million dollar, find a billion dollar, find who cares?

SPEAKER_112: Mm-hmm 10%, you know, that could be billions and billions of dollars. That's gonna sting. That's top line. That's not profits. It's top line. Okay. So that's my, that's number one.

SPEAKER_22: Let's kill it for starters. Number two, CEOs are scared. CEOs are scared right now. They are. You can see it. Sundar was talking about the Google ad business getting spun out. Amazon putting basics. The, the cage has been rattled and folks are scared. Sheryl Sandberg left Facebook. I think maybe that's part of it. Don't want to deal with this regulation coming. Uh, yeah, the cage has been shut. They're shaking the cage here and CEOs are clearly scared. And then number three is not gonna get a pass on all this because they're a walled garden, right? They don't have 30 party sellers. They don't have apps as it were, or an app store. So if they're a walled garden by design,

SPEAKER_11: how could they favor their own? There is nobody else on their service. So it's not like Shopify or Airbnb or Spotify or target, or any of these people are integrated into Facebook or Instagram. And then there's a competing product that's going above it. Craigslist is not allowed on Facebook as like, uh, an app. They got rid of the apps. And so the Facebook, what do they call their marketplace? Facebook marketplace, Facebook market, it's not like Facebook marketplace is stealing information from their Craigslist version on there. So what do they do? They're gonna force them. I was just thinking like, what if they forced Facebook to make the stickers and the widgets open, or they forced them to say, if I have an Instagram account, this would be killer.

SPEAKER_47: Instead of using the shopping built into, because now they have their own shopping tools built in, I could swap it out for Spotify. So I just put Spotify. And I think they actually did a deal with Spotify, but whatever the other five, you know, Squarespace or any e-commerce can be plugged into your Instagram natively. So I, the big thing I wonder here is what happens to people who already have

SPEAKER_06: closed gardens, like Zuckerberg built is probably this would likely be covered under the unfairly preferencing a platform operators on product services or lines of business.

David Friedberg: But they don't maybe along the lines of anybody else. So it's not like they're giving preference. There is no preference. There's no choice. I mean, eventually there will be like the Oculus app store,

SPEAKER_10: I guess there will be, yeah, but yeah, no, it's a little bit trickier. I would love to, we should get Senator Klobuchar on to explain to us how this would impact Facebook in particular. But I think this has been, this has been a huge part of the conversation about what's so hard about crafting antitrust for quote unquote, big tech is that they're all in many ways, very different businesses. And so trying to craft specific legislation, as opposed to just use existing antitrust framework has been really hard. Yeah. Yeah.

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SPEAKER_22: he bought the Washington Post. Number two, climate donations. Number three, the giant house in DC. Number four, he left the CEO slot. Number five, he's now retweeting, biting and criticizing and being vocal. And number six, he spent all that money and time in Hollywood. That's like a big media play to raise

SPEAKER_42: your profile doing Amazon movies and the Lord of the Rings stuff and James Bond. So I think he's teed

SPEAKER_22: up. Those are my six reasons. If you disagree, please tell me why. But I think he's gonna run with

SPEAKER_24: somebody very high profile and he's gonna win and I'm gonna vote for him. It's a no brainer vote.

SPEAKER_22: Oh, heaven help us. Okay. What do you mean heaven help us? You're telling me, would you rather have Biden, Bezos or Bloomberg? There's three B's, Biden, Bezos, Bloomberg, rank them who you would

SPEAKER_75: like to see in office right now? Jesus Christ. Right now. So easy. Or in 2024. No, I'm still

SPEAKER_01: going. Look, I'm just saying being an oligarch does not prepare you to run a country. Like we should disabuse ourselves of that notion right now. And when I say, when I say heaven help us, what I mean is,

SPEAKER_06: our options are literally only going to come down to oligarchs because that is just America.

SPEAKER_22: Who understands the economy business better? Biden or Bezos? No, no, no. There's understanding

SPEAKER_06: how to make a crap ton of money. Yes. By paying as little as possible for good services and humans.

SPEAKER_01: Oh, wait a second. And then there's understanding the economy. You just added a seventh reason he's

SPEAKER_136: running. He raised the minimum wage, gave benefits, gave benefits and paid for college inside of Amazon for workers. What does that sound like? That sounds like Bernie's agenda. That's why he did it. He's going to be able to go up there. He's going to be able to go up there and

SPEAKER_139: say, you know what? At Amazon. And America's going to fall for it. Listen, like America's going to go for

SPEAKER_140: this hook, line and sinker because we love oligarchs and celebs. That is our jam. Not an oligarch. He's an entrepreneur. He has a small percentage of overall commerce. He was an oligarch or an entrepreneur and now he's an oligarch. What an oligarch? He's just a seller entrepreneur. Two words, bro. You're telling me you would want Biden over Bezos and Bloomberg. Yes. Who would you? You would? I'm not

SPEAKER_145: saying I'm happy about it. I'm just saying yes. You would vote for Biden at 78 over Bezos and over Bezos at whatever he is, 60? Right this second. Yes. I'm not saying I like it. You have given me

SPEAKER_150: like a Sophie's Choice situation. Bezos or Trump. Make it easier. Come on. Bezos, Trump or TL. This

SPEAKER_112: napkin box. You're crazy. I'm going to have to, you have to spend another, in another six months, I'm going to green pill you. I'm green pilling everybody. Forget about red pills and blue pills. I'm green pilling people. That is amazing. If you can make money and create jobs, that's not an oligarch. That's an entrepreneur. I'm green pilling you. You're going to be

David Friedberg: in love with this concept. Green pilling is amazing. I get six more months with you on air. I'm going to turn you around. Green pilling is amazing and I want it on a t-shirt.

SPEAKER_157: I'm going to green pill everybody. Here's my-

David Friedberg: Hashtag green pilled. If you can create jobs. The day I come around, this is the day I'll wear that

SPEAKER_162: shirt. America is about capitalism and democracy. That's what America is about. And democracy. Jeff Bezos is

SPEAKER_00: not about democracy. You're about capitalism. Of course he is. Listen, capitalism and democracy.

SPEAKER_03: This is the peanut butter and chocolate. Okay. And I put capitalism and then democracy in that

SPEAKER_165: sentence. It was an accident. I meant democracy then capitalism. It was an accident. Green pill. Hashtag green pill. Hashtag green pill. It's the economy. It's the economy. UV, that's pretty funny.

SPEAKER_11: Hulk smash. You want to see the economy at work? Get it Hulk smash. Who wants this mug with the This Week in Startups logo. We got 93 thumbs up, seven more, six more, and somebody's going to get one of these. Okay. That's a freaking pro. That's the economy at work. Okay. Pro.

SPEAKER_01: Let's go. All right. Speaking of the economy at work. Okay. Sorry. Where are you? That's okay. It's okay. I'm just trying to get you to our team meeting. We can do this. Speaking of Amazon,

SPEAKER_06: actually speaking of every company, right, which is having this conversation about where to work. Yeah. And fully remote and whether not to fully remote and how to how it could actually kind of spread the benefits of the economy around more equally across the country. Okay. Interesting report in the Wall Street Journal this morning about how 71 cities and towns in the United States are now offering remote work incentive programs. The data was reported from Make My Move, which is based out of Indianapolis and is contracted by cities and towns to set these programs up. So, you know, if you're a city that maybe not a lot of people have wanted to move to in the past, like Tulsa, Oklahoma, you're now offering maybe up to $12,000 in cash, some subsidized gym memberships, free babysitting, office space, you're like, come here. Yeah, genius. I think this is so interesting. And it is a like,

SPEAKER_10: it is potentially a way to equalize some of the housing shortages. I mean, obviously, there was also story on the weekend. One of them, maybe the journal this over the weekend about how like, the housing crunch now is hitting cities that have never had a housing crunch before, like Boise,

Jason Calacanis: Idaho, or like Yuba City, California. But people are leaving California, they're going to Austin,

SPEAKER_22: they're going to Miami, but they're also going to Nashville and Atlanta, and Utah, and other places,

SPEAKER_50: you know, Colorado, New York, and they're also leaving Austin and going to you know, I mean,

SPEAKER_11: it's not just California. Yeah, but New York and California are the big losers in all of this,

SPEAKER_22: because it's too expensive in both those places. And if you can work remote, why wouldn't you? Why wouldn't you if a home in New York and California is going to cost you, you know, low millions of dollars. And in one of these other places, it's going to cost you half as much or a

SPEAKER_03: third? Yeah, you'd be crazy not to go. And for these for Tulsa, I got a population of 400,000. I'm reading here. They brought in 1300 high paid tech workers to the city. Okay, that doesn't seem

SPEAKER_11: like a lot. But they're going to get it to 1% of their population. Right now, it's 25, just over it's 30 bips. So, you know, a third of one point added to the population. And it could be over 2400 by the

SPEAKER_03: end of this year. Yeah, they're, they're, they're gonna hit 1%. Maybe they hit 2%. Genius.

SPEAKER_05: Yep. Genius.

SPEAKER_06: Even small towns with populations as low as 12,000 are offering these one Amazon engineer moved to Greensburg, Indiana population 12,000 with his wife and two young kids. He got $5,000 from the city, a year of free office space, a gym membership, and this is clutch,

SPEAKER_11: babysitting for his kids ages one to three. Wow. So that sounds like a $25,000 package with the baby. Maybe there's a cap on the babysitting, but this sounds like a 1015 K package. That's amazing. It's amazing. I actually have some friends, you know, who's doing this

SPEAKER_01: Finland. Finland has a program called 90 Day Finn, where they're specifically trying to attract like

SPEAKER_06: tech workers and investors to jumpstart their innovation economy. And I have some friends who, in August, are going to go to Finland, and live there for three months with their kids, go to school, they're having an apartment, they're like hooking them up with the place to live and the

Jason Calacanis: visa stuff and just trying to, to attract, um, talent now that this kind of remote flexibility exists.

SPEAKER_22: Uh, this is happening, uh, in Portugal as well. So they are running like some golden visa where you,

SPEAKER_05: you know, and I think they may have canceled it because so many Americans took it. I think they like, yeah, I was looking at it during the pandemic. Now I'm gonna lie. Yeah. Um, I mean, but still, like they had a thing where it was like, if you went and bought $500,000 worth of profit property,

SPEAKER_11: you got a green card. Amazing. Yeah. And I, you can, you can basically buy your passport in a lot of countries, you know, you invest a certain amount of money, you get the green card and then eventually you get the passport. So I think it's great. I think the United States should do it too. I think every country should be doing this in every city and locate location. This is a LTV play lifetime value. We give you 12 K on the way in. Yeah. But then you're paying, you know, whatever five,

SPEAKER_47: 10,000 in local taxes. You gotta eventually hire a nanny. You know, you start paying real estate taxes. If they have those, maybe they don't have state taxes. Some places they have just high real estate taxes. Austin is 2% real estate tax, but no state tax. So, and you know, then you go to the

SPEAKER_22: state fair with your family, you make some donations, you buy a car from a local dealer. And all of that adds up to, you know, once you get somebody to move there and they love it. Yeah. Okay. They're going to stay and they're going to have kids. Then the second thing happens, which is monetary velocity. This is a important concept. Monetary velocity is how many times like a dollar turns over. So you take like, you know, um, the monetary and there's different, there's M one, there's M two supplies, but you can look it up on your own monetary velocity. You can, you can actually, we can pull up a chart here from the fed, but they track this and what happens with monetary velocity. I'm sure you're aware of it. Molly is how often do the dollars turn over? Well, if you're in a small town and there's no big fish there, there's no. Splashy cashy, you know, a hundred K, 200 K developers hanging out the monetary, you know, people might be watching their balance sheet, their, you know, P's and Q's. Maybe they don't hire nanny. You know, they, you know, will, uh, watch each other's kids,

SPEAKER_189: right? You walk your kids next door. I'm going to go out tonight. You watch my kids Friday night. I'll watch them for yours on Saturday. But then you get these high spenders in there,

SPEAKER_00: man. They're spending money. Well, that nanny they hired, right. Or the housekeeper, they go to the state fair too. And they spend some money in the local vendor at the state fair. Then

SPEAKER_11: they start spending money at a local restaurant. And all of a sudden the dollars start moving around. And each time those dollars move around, there's probably going to be some taxation on them. So that's what you have going on here is those 2,400 people in Tulsa. They might represent 10 times as

SPEAKER_47: much income, probably 10 times at least of the bottom, you know, whatever 25,000. So they have

SPEAKER_11: a massive impact, massive impact. And then there's the second and third order impacts. They start a company, they start a company. So you bring these 2,400 tech workers there, you nailed it.

SPEAKER_03: What are those 2,400 people going to do? Okay, they're going to work at whatever company for three, four or five years. Yeah, then you know, 10% of them, that's 240 people in Tulsa are going to start a company. What if they start Uber there or Airbnb or Spotify, that's what happened with Shopify, whatever city

SPEAKER_47: they're in, I forgot which one it was in, in Canada, somebody will remind me, they all of a sudden started having this whole Shopify mafia emerged like the PayPal mafia. So this is brilliant. The losers are places that are taxing too much, and are unlivable, and don't have good housing, which would be, you know, San Francisco comes to mind, New York, the Bay Area writ large, you know, it's just too expensive to live in the Bay Area. And I tell every startup, if we're giving you seed funding, please do not come here. Yeah, I'd love to meet you. I'd love to hang. But if you come here, you know, instead of paying $1,000, you know, for a one bedroom, you're gonna pay three, don't come here. It's not worth it. Yeah, you know, 100%. And,

SPEAKER_06: and then these cities will have to adjust in some way, right? It's just sort of like the cure for high prices is high prices, like it all. Over time, there is hope that these things will even out to

SPEAKER_05: be fair, the Bay Area is going to continue to have really good weather and really good food. And I mean, I love Cali, but I'm done. You know, I want to get the heck out of here.

SPEAKER_06: I'm not even gonna lie. I was on Zillow last night looking at all my hometowns over the years,

SPEAKER_179: like, I was like, what's happening? I mean, listen to your cost of living goes way down, you know, do it. That's gonna make it through high school. But I'm not I think I started the

Jason Calacanis: three year timer. I really do. I think so, too. Because it just is like, I love it here. My life

David Friedberg: is here. Yes, yes, yes, yes. But it's expensive. It makes no sense. You do the math and you do it is

SPEAKER_03: hard to justify. Well, good might the high school be in another location compared to the one you're in? I don't know exactly what your situation is. But you know, there are some great schools here. But

SPEAKER_22: there are also great schools everywhere, you know, and you can you can make that move too. So I think this is a great thing for America. Honestly, I do. You know, if people can move for opportunities and states have to compete, it's just like public schools versus private schools. You know, it's a health care when there's competition, I'm going to just put some green pills

SPEAKER_88: out here. There's no competition. Exactly. There's no performance. These cities are disruptors.

SPEAKER_06: All these cities are like little disruptors. And what they're saying is disrupt the status quo, they're going to create competition. The incumbents are in New York City, Silicon Valley, even places like Austin, Denver, Miami that have already become hubs. All of those places could potentially be

SPEAKER_05: disrupted by Boise and Omaha, you know, like if anything, exactly city. Tulsa is offering you a

SPEAKER_03: babysitter and thousands of dollars to move there. San Francisco hates tech workers. They blame them for all the problems and it's dangerous and you have to pay huge taxes. And why would you do that? And we have this incredible fentanyl problem. Like does Tulsa have like, you know, these same issues? I doubt it. I doubt it. It's better run. And the people who are running San Francisco are idiots,

SPEAKER_11: you know? And so you, you have incompetent leadership. We're going to Tulsa.

SPEAKER_21: Yeah. Listen, I, it's not for me. I've never been there, but I can tell you it's not for me, but Oh, I see. Oh, I see.

SPEAKER_182: I don't know if it's for me. Places people love, places people love include Pittsburgh. I don't know

SPEAKER_06: how many people, you know, from Pittsburgh, but they are the most evangelical about their city.

SPEAKER_05: People freaking love Pittsburgh. People love syndrome. Yeah. I mean, this is the thing,

SPEAKER_182: right? So I live in Pittsburgh, man. That's a little rough. Everything that we're saying right

SPEAKER_06: now is all true until winter comes. Like my, my parents are, or my mom, my dad and my stepmom are in Montana and they were like, yeah, a lot of Californians bought houses, sight unseen during

SPEAKER_05: the pandemic. And I cannot wait to hear what it's like when they come here and they have one winter and I'm like, yeah, exactly. I'm, I'm down with winter. If there's I can ski for sure. But I just don't

SPEAKER_112: want cold for the sake of cold. Like that's a hard no for me. All right. Listen, lots of founders are

SPEAKER_11: loosey goosey with their personal numbers. They put them in company documents. They use them for sales calls, all this stuff. And to make matters even more messy. When you do that, you don't know who's calling. Is it a sales prospect? Is it somebody you're trying to hire? Or is it somebody from your kid's school? I don't know. It could be anybody could be an old flame. You don't want to get random calls during your summer barbecue. That's where open phone comes in. They let you create business phone numbers. You just go to their website, open phone.com slash twist. You can create a phone number and account in under a minute. I kid you not. And you give everybody on your team a phone number, then they download an app and you're done. It really is that simple. You can also do round robin. So we have a general sales call number and it goes from one person to the next to the next, or you can have everybody's phone ring at the same time. First person to pick it up gets the call. That's the way to do it for customer service. This isn't like the old days, we have to buy a bunch of hardware. No, this is all done in software. And that's why it's so affordable. Open phone has a starting price of just $10 a month. I kid you not. But twist listeners can get 20% off any plan for the first six months by signing up at open phone.com slash twist. If you have

SPEAKER_223: an existing number, they'll port it over for free. O-P-E-N-P-H-O-N-E.com slash twist. Open phone.com slash twist. You got a series A company.

SPEAKER_225: Before you move on, Jason, you should mention that New York is a bit of a different, it's weird because like long-term permanent residents are leaving Manhattan, but it's actually getting a huge influx of remote workers that just want to live in New York City. So like, this is weird thing where you're- Well, you explain it on the show. I don't

SPEAKER_42: need it. You should continue. Continue. Explain. I don't even know. It's a really weird thing. I

SPEAKER_231: have like- I think you're talking about young people. Yes. Who want to like live in the city

SPEAKER_225: and this is their chance. Who are like, we're fed up with San Francisco, their jobs went fully remote and they all moved to Manhattan and they're like, I don't want- Because Manhattan's dope. Manhattan is adult Disneyland. But it's- Seriously. Exactly. And these are all very high paid workers that are living in cool apartments, whatever they want to do. But it's a really weird thing where a ton of families are leaving the city, but a lot of them are being replaced by like

SPEAKER_237: young tech workers. Yes. Perfect. Well, they also built a lot of units. Yes.

SPEAKER_136: The number of skyscrapers going up in Brooklyn, Queens, Manhattan is bonkers. So you keep adding

SPEAKER_241: inventory. It's still ridiculously expensive, but there is- Whatever. I mean, it's expensive,

SPEAKER_47: but not for a tech worker. And then think about your life. You want to be on the Google bus for an hour and 15 each way every day. Yeah. 10 plus hours a week on a bus. Or do you want to just like go hang

SPEAKER_246: out- Take the six downtown and rip it up after work every day. Seriously. Yeah. I mean, dude,

SPEAKER_21: Manhattan is the dopest. It's incredible. I mean, it's hard for a family, of course, but- I'm ready. I'm going to Manhattan. That's where I want to go. I would love to- Well,

SPEAKER_11: that's what I mean. I'm working 10 years. My kids go to college and then I'm buying the Knicks, which is going to require a lot more investment. So let's pivot to series A's. Maybe we can find some

SPEAKER_108: more investments here. Let's get back to the roots. Yeah. We got to make some money.

SPEAKER_58: Green pills. More green pills. Our newest segment currently titled Series A and M&A.

SPEAKER_05: It rhymes. What do you write? Series A dot dot dot and M&A. And M&A. All right. First up,

SPEAKER_01: Series A. Phaedra is a startup selling- This is so interesting. Yeah. A startup that sells

SPEAKER_06: machine learning software that regulates temperatures at power plants and industrial facilities. They just raised a $25 million Series A led by Starshot Capital. It's a Seattle-based startup founded by alumni of Google's DeepMind. Sweet. And this was born out of something that was happening there. This DeepMind team built an internal machine learning tool at Google to optimize temperature inside Google's server farms. Okay. Which, as you might imagine, use a lot of energy. So this wound up saving them a ton of money. I mean, interestingly, this is kind of what Nest does at the residential level.

SPEAKER_15: That was my hot take. This is like the Nest mode, eco mode. Oh yeah.

SPEAKER_05: Yeah. For the leaf. Yeah. For factories though. That's exactly it. For factories. And so they say they can cut industrial factory energy consumption

SPEAKER_162: by up to 30%. This is just, that is a massive money savings for the companies who use it, but also,

SPEAKER_05: like create so many fewer emissions that aren't, aren't necessary. It's phenomenal.

SPEAKER_22: Yeah. You can also put on a sweater, everybody. I'm turning into the dad. You know, I get that eco mode going on my nest and I'm like, yeah, 62. That's when we turn on the heat. And you know,

SPEAKER_11: I got a revolt, you know, in my house, because everybody wants to walk around in a t-shirt and shorts.

SPEAKER_47: And I'm like, put a sweater on, wear sweatpants. We're putting this at 62. We're going to save some money. But I lost that battle, but I do think it's awesome that they could know in a factory, like, if you were just thinking about Google server farms, okay. You might have this giant, you know, 10 football fields worth of servers, right? Molly. Yep. The sun is going to hit them, right? So there's one variable, the sun. Then there might be some that have a lot of extra hard drives, because that's where they're storing all the photos for Google photos. And let's just say, theoretically, those hard drives put out a little extra heat. Then there might be time of day when they do backups and they're doing backups, you know, at this time of day, but the sun's on and it's making the hard drives go hotter.

SPEAKER_173: So they might, they might be able to go and say, you know what? There's all this extra heat over here. Why? Okay. What's running on those CPUs was running on those. Oh, it's the backups. Okay. You know what? Put the backups at night when the sun goes down, because we don't have to cool this

SPEAKER_22: as much or, you know, and there's a million other possibilities. Oh, this set of servers has, you know, these GPUs in them. These have the older GPUs in them. These don't throw off as much heat. So we should, oh, and by the way, inside of the, you know, server farms, here's where the air conditioning is pointing. Okay. If we, you know, uh, keep it at this temperature overnight, then during the day, it cools down. You know, there's like a million different variables that

SPEAKER_03: you would never know, just like the algorithm serves you up content. You didn't know you were interested in and you start, like, I didn't know I was into food reaction videos, but that's not now

SPEAKER_11: that's my tick tock. My entire tick tock is this chef who is just like cynical and he just rates stuff on a scale of one to 10 and he duets them and I can't get enough of it. Hilarious. Like it's, that's

SPEAKER_05: what's going to happen with this stuff. I mean, imagine you do this for water. Oh, yeah. This is one

SPEAKER_06: of the things I think is very interesting about climate investing is that this is the kind of stuff that software can accomplish like efficiency and measurement energy efficiency is the most boring and most profoundly impactful single thing that you can actually do, right? As a, as a person or a business, like being more energy efficient is like a four to one, uh, return in terms of this guy on the

SPEAKER_171: pod. We should get him on Jim. Jim Gow. Come on the pod. Somebody who knows him. Let's talk about this

David Friedberg: stuff. He seems like a smart cat. Love this stuff. Well done. 40% energy savings in Google standard data center cooling systems. I mean, what a cool series a, this is where, and when everybody starts talking about water in California, I start banging my head against the wall.

SPEAKER_47: Number one water. Oh yes. And like, did you realize we have like campuses where they have one water meter on the entire campus or one per building? You need to have water smart meters that are recording and sending information to a central location. So, you know, that, you know, this floor in this dormitory at Stanford has been running five times as much water. And then you gotta send somebody up there to figure out that there's a leak and then fix it. But because we just have building by building, and then because we, we can't charge people the proper price for water. We're in this like tragedy of

SPEAKER_22: the commons where nobody is conserving. Nobody's paying the right price for water. And, you know, this is where the collective, you know, a hundred billion dollar surplus we have in California. We should just airmark a little bit of that for putting water meters everywhere. And just, I had some startups in the space. They didn't work out, but you know, between desalinization and just reducing water waste, because there are pipes, Molly, that are broken and we have no idea how much water is being wasted. Some people say it's like a third of our water. Some people say half, nobody knows how much of our water is being done and we need to have it like down to, we should not be able to build a new

SPEAKER_11: building or rent a new apartment. Every time an apartment goes for rent, it should have to have a water meter put on it going forward. And you could split that cost between the building, the rent or whatever, but it would probably cost like a thousand bucks. And then the landlord would

SPEAKER_22: know, Hey, apartment three C is using this much water. Like in apartment buildings, everybody pays

SPEAKER_03: the water bill. And I'm on like a slack with everybody in a property I own talking about the building and the water bills. And they're like, why did our water bill go up three texts? And it's like,

SPEAKER_11: I don't know, maybe somebody's got a broken toilet. That's just spinning forever. Yep. Every unit needs to have its own water meter, but that's going to cost 40 grand. But

SPEAKER_21: then that would be paid for in the first 18 months. Uh, right. So you use that a hundred billion dollars for subsidies to do that.

SPEAKER_06: Yes. Yes, exactly. Yes. And then charge people what it actually costs.

SPEAKER_10: Also. Yeah. Don't, don't let drinking water come out of taps or come out of hoses. I mean, people are watering their lawns with drinking water. It's just shocking.

SPEAKER_47: Yeah. They could be using gray, right? It's just, but you have to measure it first. And that's what exactly. See this, they don't mention sensors in this one, uh, about Phaedra. But I wonder if Phaedra has part of this has to put sensors in to know the actual temperatures and like the micro climates of the factory and, you know, putting sensors on each vent. So you could really start to understand

SPEAKER_11: things with sensors in a really interesting way. Yep. And sensor technology gets cheaper and cheaper.

SPEAKER_06: It's really enabled a lot. Yeah. I wish that, um, I wish I'd known about Phaedra before they close their series day. If anybody out there knows about a company like this. Yeah. Email call me. Yeah. DM

SPEAKER_116: sign into her DMS. You have open DMS or no? No, God, no. I'm a lady on the internet.

SPEAKER_285: All right. Woman on the internet. Totally. Sorry. No, thank you. I mean, I do get some pretty crazy

SPEAKER_286: stuff. Sliding to Jason's DMS and maybe he'll forward it to me, but you could, you could just

SPEAKER_179: mention her on Twitter. My email account is in my Twitter bio. Okay. Perfect. There you go.

SPEAKER_200: So, you know, all right, Molly, I was reading the old wall street journal and you and I were chatting

SPEAKER_22: at seven, eight AM today when we're queuing up the stories. That's a great time, by the way, to email producers at this week and startups.com with a story idea really seven to eight AM hours, the sweet spot. Uh, but I, Pacific time, of course, Pacific time PT. Don't, don't ping us at

SPEAKER_61: four AM. Yeah. Uh, wall street journal reported that amateur investors, retail investors, uh, watching

SPEAKER_22: the stock market slide are doubling down. Hmm. And this happened the week after J trading started. I would just want to point out that my first J trade was stitch fix and I'm not trying to like chest thump here, but how's my stitch fix doing? Somebody told me I'm up 10% today. Let's see.

SPEAKER_12: Not only are you moving markets, but you are apparently creating trends. You are literally setting trends in real time because here's the, here comes the wall street journal and it's like,

SPEAKER_05: yeah, 6% on my stitch fix trade. Okay. So if I can do 6% week over week, I double my money every 12 weeks.

SPEAKER_41: Hmm. That's what you're in for folks. So you're in for here's the, this is not investment advice.

SPEAKER_302: This is not a headline on the wall street. It comes through on Google on, on, uh, iMessage. And I'm

SPEAKER_01: like, oh my God, do I know this guy? Cause this is the headline. Many investors are fleeing the stock market, but some are doubling down quote. If I lose $15,000, I'm not going to die. I'm immediately

SPEAKER_306: like, oh my God, is Jason in this story? Wait, is that what I said last week? I think that's what I said.

SPEAKER_06: Almost word for word. In this case, it was not about Jason, but it might as well have been.

SPEAKER_14: The number of retailing clients at Morgan Stanley, which owns E-Trade rose to 7.8 million

SPEAKER_06: at the end of June from 7.6 million. At the end of March, they made an average of 880,000 trades a day. Day traders and J traders are going shopping. I like to call any downturn a big sale at the stock store. Okay. That's what we have going on. And evidently people are taking an advantage and really like trying to plow money into the stock market in the hopes, you know, obviously of a, of a three to

SPEAKER_11: five year dollar amounts, right? Like when I read the story as well, these were very small dollar amounts and people I thought were making rational justifications for it. Cause they, they quoted Luke Bowman or Bowman, a 32 year old amateur investor, software engineer. Okay. Father of two, he's a

SPEAKER_47: software engineer. He says, quote, am I buying the bottom right now? I don't know, but I do know I'm buying at a significantly deep discount. That's exactly what I said last week. And I said, it's

SPEAKER_22: bouncing along the bottom in my mind. If it goes down another 25%, I don't care. I'm buying it because

SPEAKER_03: I have a 10 year window. And he says, it's the classic Warren Buffett mindset of being greedy when

SPEAKER_22: others are fearful. We go shopping on black Friday to get discounts. This is the same. I kind of like that, except the largest asset managers in the world are not buying stocks yet, right? They're sitting on the sideline. So this means it probably is going to go down more. The sophisticated investors are not getting involved. But you know what happens if the retail investors do this, as they said, what are they? What was the thing they said on Wall Street bets? We can say we can

SPEAKER_11: stay I think they used a much more vulgar word. Yeah, we can stay stupid longer than you can say

SPEAKER_50: solid. It's better because alliteration we can stay stupid longer than you can say solvent. Amazing.

SPEAKER_01: Got it. Right. So then does that effectively create a bottom? I know it takes a lot of retail dollars to move markets a lot a lot. But if there were enough retail dollars to say,

SPEAKER_06: stitch fixes got 6% and it's not going back down, like do is there a world where institutional investors think they're waiting for a bottom that doesn't come because retail gets in there and is like, sorry.

SPEAKER_22: Well, there's a lot of emotion here. We are at, if you were to look at the PE ratios over time, the PE ratios now are whatever it is 20 or something on average, and the lows are usually 15 times. And so I think, you know, it could go down 25%. But if you wanted to own these stocks, and you wanted to own them for 10 years, that was how I came to the decision that I want to start buying companies I love, and companies that I think are undervalued over the next six to 12 months and build positions in them that I'm going to hold for 10 years. Because I was using Vanguard funds, which is interesting in the story, they talked about low fee Vanguard funds. And one person's approach was, I'm just going to keep buying, you know, whatever 500 bucks a month and Vanguard funds, instead of going out to dinner, instead of going out to the bar to drink, I invite my friends to

SPEAKER_11: drink at the house, just like producer Nick does. So it's cool to get the pregame on Nick saves like, I don't know, you know, probably saves like 500 bucks a month pregaming.

SPEAKER_314: I think I think I actually spend more money at the pregames. He's like, yeah, you're Oh, really? You're buying high end on the pregame? Yeah, we go, we go classy at the pregame.

SPEAKER_11: All right, fine. But you know, what would that pregame have espresso martinis? All right, those espresso martinis request you what is an espresso martini in Manhattan? It's got to be 25 bucks for an espresso martini. No, no, like probably 16, 18, 16.

SPEAKER_47: Well, I'm thinking in a place I would like to go. I'm not talking about a dive bar. I'm talking in like a proper cocktail.

SPEAKER_322: Listen, they don't really sell espresso martinis at dive bars, Jason. I'm sure you're not.

SPEAKER_11: All right. Well, I'm just saying if you went to a nice restaurant.

SPEAKER_323: Yes, not like probably like 18 if you're in Manhattan.

SPEAKER_60: Okay. Yeah. So I rounded up to 25 with the tip and tax or whatever. So yeah,

SPEAKER_325: you know, it's not cheap is the point. So your espresso martini cost you three bucks at home.

SPEAKER_06: I will say that I, yeah, come on. I texted my financial advisor this story this morning. And I was like, wait, should I be doing this? Should I be

SPEAKER_05: operation scrimp and save like the software engineer? And he wrote back, we are not gamblers. So. All right. I'm your financial advisor now.

SPEAKER_22: I want you to fire your financial advisor and then you're going to join me on this journey. Sorry to Molly's financial advisor. You're fired. I want you to clear out everything and put it into

SPEAKER_327: a Robinhood E trade account. And you're going to come on the, I'm not giving financial advice, Molly. I'm not, but fire your financial advisor and let's start making bets.

SPEAKER_05: Orders. I can tell you, I already had to inform him that I'm going to be doing angel investing. And he was like, God help me. So we're good. We're good.

SPEAKER_11: No, I mean, I understand financial advisors are trying to protect against downside and that totally makes sense. You know, they're trying to keep you in a certain strata because the chances of you hitting like crazy home runs is low and the chances of you losing is high. So they just want to, they don't want to get fired financial advisors. How do they not get fired? By not having you

SPEAKER_47: experience like a 50% loss. They want to have you lose less than everybody else loses and just make

SPEAKER_11: a little bit, but they don't need to be heroes. So they're just trying to keep you in that band, right? Yeah. Protects them down, which is understandable. That's great. That's not the station. You're, you're, you're, you're, you're, you're still a spring chicken here. You, you still got 20 years before you retire. Exactly. You should be making aggressive bets in my mind,

SPEAKER_47: but that's not financial advice. That's why I'm here. Yes. But it's not, I'm not giving financial advice, but fire them and then start making J trades. Okay. I'm not telling the audience

SPEAKER_334: to fire their financial advisors and make J trades. I'm just saying, I got a girlfriend at

SPEAKER_335: Stitch Fix. I'm not buying that. But I'm up 6% week over week.

SPEAKER_152: I'm going to, I turned $8,000 into like $8,600. Like it's literally going to be day trading any

SPEAKER_21: minute now. Sell, sell, sell. I will be, I'm telling everybody tune in tomorrow, Wednesday,

SPEAKER_11: Thursday, Friday. I'm going to be making J trades. As soon as this money clears into my Robinhood account,

SPEAKER_340: I'm going to be splashy cashy the rest of the week. Just really call somebody at Robinhood about

SPEAKER_05: that clearing time. Isn't, isn't Bitcoin supposed to solve that? Come on. Why is it settling taking so long? This is so funny to like, I literally like, you know, like living like a normal right now,

SPEAKER_275: waiting for cash to show up in your account. It's so dumb. You know what? I could have,

SPEAKER_24: I could have just, I could have stopped this whole thing just by doing a wire, but I just did, I guess like automated ACH, but I'm like, why is there a 50 K limit bank of America? 200 wealth from

SPEAKER_207: was a 250 K limit. And you know, Robinhood's a 50 K limit. Everything's a limit. Why is there so many

SPEAKER_01: limits? All right. Thanks for listening. Before we wrap though, we just, we have a little fun. We have a little fun to take us out on. We do. What do you think? And based on your tweets

SPEAKER_04: over the weekend, Jason tweeted the following prompts, which got in, in his words, some great

SPEAKER_41: engagement. 2,000 people replied to this. 2,000 of you. Oh yeah. Read it for us. Read it for us. I just said, terrify your investors in five words.

SPEAKER_12: And then we're going to go ahead and look at some of the responses.

SPEAKER_342: Somebody put Jason is joining our board for the other investors. Yeah. Because it's going to be go time. So sure. Why not? I agree. Full contact. Jay Cal's on the board.

SPEAKER_01: Jay Cal's joining our board. Jim Kramer said he's bullish.

SPEAKER_349: Oh, that's a low low. I like Jim Kramer. Stop that. Come on. Oh, Vinny Lingham.

SPEAKER_182: Vinny, friend of the pod. 3AC owes us some money.

SPEAKER_156: Ah, very good. Very good. All right. Heidi says withdrawals have been temporarily suspended. Oh, can we, I sense a theme emerging.

SPEAKER_112: Uh, Greg with a bunch of numbers. Oh, Greg, 1, 6, 6, 7, 6, 9, 3, 5, 4, 20. Yes. Timed in. We have arrived. Wait a second. Did Sam? Yes. He really did give him a Tesla plan. No. Yes. That is the craziest story ever.

SPEAKER_22: Okay. So Greg, 1, 6, 6, 7, 6, 9, 3, 5, 4, 20 is this like reply parody account. And he's hilarious. He gets famous people to reply to him. And he's got a very weird looking face that has been photoshopped in a weird way. And he's hilarious.

SPEAKER_41: And he's hilarious. And he responded to Sam or just asked him, I think.

SPEAKER_22: If I can type this fast, will you give me. Right. A model, a plaid. Cause Sam from FTX was saying that he types really fast and that was some advantage. And then Greg did a video of himself typing. And apparently Sam is so crazy. He bought him a plaid

SPEAKER_112: model. So I'm willing to get you an ember mug, but we're not giving a Tesla plaid out here.

SPEAKER_06: We're not. Although, uh, his, I feel like his response then to your prompt was both hilarious and kind of meta. Cause he said, I learned this strategy on Tik Tok, which is six words.

SPEAKER_362: So you probably just dropped the I. Yep. Okay. Sure.

SPEAKER_61: And then Austin, all red, uh, he, uh, famous entrepreneur. Uh, he wrote, we can always raise

SPEAKER_363: more funny. That is truly terrifying. Interestingly, I did one, which was delight your investors in five

SPEAKER_189: words. I got 200 responses. No one cares. No one wants to be positive.