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Gaming division. I suppose. Anyway, you gotta remember this is from Will depew. You gotta remember that there's some guy out there. Who's the Michael Jordan of steel processing. He's on a generational run right now. Everyone sees their niche as the center of the world. So many greats. You'll never hear of the Michael Jordan of steel processing. We gotta find him, dig him up, get him on the show. We've had the Michael Jordan of acquiring rare parcels of land in Montana on the show. Got to have him back. He's got to be pretty excited for this upcoming round of IPOs. Data center buildouts. I don't know. Anyway, a lot of those ipo, we can come back to the land. The Land Strategies. Because we have our next guest here, Brian.

Fitting. Yes. So unfortunately, the chat effect, the guests cannot hear it. Only. Only you can. And the two of us. But we're gonna keep using it strategically. It's a really good effect. I was so skeptical when you launched these buttons. I was like, can we get the comedic timing to work? Will it hit? Turns out we can. Yes. It's working beautifully. Well, our next guest. Get that.

Out of a camera on the fly. If you saw someone. 0 to yum is what they say. Anyway, question, John, that I was asking you this morning. Do you think it's better to rest on your laurels or sleep at the wheel? I have my answer, but I want to hear yours. I think in the modern era sleeping at the wheel is increasingly safe because of self driving cars. You can be, you can be sleeping in a Waymo. You can be sitting in the front seat. I don't know. Do they let you sit in the front seat of a Waymo? I don't think so. Maybe if there's a fourth. Can you. Not behind the wheel. Not behind the wheel. But what if I'm in the back and I wiggle my body through the front two seats? Sit in the front. It'll stop the car. They're coming on the phone, they're going to stop. Okay. Well then it seems like it's increasingly difficult to sleep at the wheel. And so perhaps resting on your laurels would be the better option. I think so. Because it allows you to one. It's obviously comfortable. Yes. Quite relaxing. Yes. But just because you're resting doesn't mean you can't get back in the game. Yeah. Also, resting on your laurels implies that you have laurels to begin with. Whereas sleeping at the wheel, you just have a car. Yeah. It might not even be your car. It's also very lindy. Right. People have been doing this for thousands of years. You should imagine a Roman emperor resting on their laurels. But they weren't sleeping at the wheel. They hadn't invented the wheel. They barely invented the wheel. I think they had the wheel. Well, they would ride on top of wheels. They were planning to reinvent the wheel. But no one had a wagon that had a wheel that would steer the wagon. You had reins. They would take the horse by the reins. Isn't that the phrase? Take the bull by the horns. What's the reins idiom? There's some sort of reins idiom anyway. Yeah. No, I think personally resting on your laurels implies that you have laurels to rest on. Sleeping on the wheel means that you just got behind the wheel. You could be in a sudden death situation. Yes. Much riskier. High risk, high risk, low reward. Almost very, very. Plenty of people rest on their laurels and just fade into obscurity. They aren't met with true downfall if they're resting on their laurels. But sometimes you just rest, recharge, get back in the game. But ideally you avoid both. Ideally you avoid both sleeping at the wheel and resting on your laurels. Imagine just bunch of laurels in your driver's seat, and you're just sitting. You could be doing both at the same time. That is the riskiest possible scenario, because you're gonna be the most relaxed. Yeah. Highest likelihood of, you know, careening off the road. You want to avoid both. You want to avoid both. What do you think of this desk? Herman Miller launched a gaming desk. People are saying it's tasteful. A taste.

Last question. What's the last major fitness or health unlock that you've had? And then we'll let you go. Oh, very good question. Fitness or health unlock. Could be a habit, could be a supplement, could be anything. Great question. Sleep protocol, actually. Okay. If you're sleep deprived. I've been taking creatine, 5 grams, since I was, like, 17. But I read that they did some studies that if you didn't get a good night's sleep, you can take up to 20 grams of creatine and you are nearly as alert as if you got a full night's sleep. And, I don't know, it seems to work. And so if you don't get a good night's sleep, instead of taking a normal dose of creatine, take a much higher dose. The only other thing I'd say is for those listening, I'm a big fan of compound movements. I think the most important exercise, if you only do one, is the squat. And I. Sorry, Brian, I don't mean to laugh at you. We have these sound effects, so John, talk makes it sound like this. Can you push it makes my voice sound like this. And Jordy was doing it to you during that last dip and it sounds ridiculous. Yeah, I really like compound lips. Compound lips, that's good. That's exactly how I'd want to be able to say it when I'm talking about squash. By the way, before we go, I just want to tell you something. Please. Are you guys still interested in.

And then I want to answer the second part of, I think, John's question, which is personalization without being creepy. So right now, I think most websites and most apps don't really ask you questions. They infer things, right? They think that if you ask somebody a question, that's friction. And so for 25 years, this is Amazon, this is Instagram. This is basically every app, including Airbnb. We're mostly just looking at what you click on, what you book, your prior behavior. And we try to infer based on that, what you want in the future. I think going forward, we're going to go beyond that. We're going to do two things. The first thing we're going to do is we're going to ask you questions. That's what an agent does. An agent ask you questions. So your concierge for the world should ask you questions. You went to a travel concierge, but they. They didn't ask you a question. That'd be pretty weird. So I think that's the social contract of the app is more conversational. We're going to get more information. But the other thing is designing preferences. We found that people are fine giving us their information if they know why, where it's going, that it's vaulted and what we're going to do with it. So we're going to develop a preferences panel. Like we announced today, that one of the things I'm most proud of is the design of our privacy page. Most people, they either don't care about the privacy page and like the people that it's like their entry level work, or they make it. Sometimes they even make it purposely hard, but then ultimately that erodes trust. So we're making preferences. I want to basically build a preferences library where we show you, here's all the stuff we know about you. Do you want to edit anything? Do you want to add it? And here's what we're going to show to whom. And you can say, show this to the host. This is only available to an agent. This no human can see. It's vaulted, but the app can see it. And eventually maybe it's encrypted. So that's kind of where we want to go to 2034, total solar eclipse in Egypt. You can stand at the pyramids and watch it. Book your Airbnb futures. I'm going to go and offer.

Was there a power law, distribution in those? Are you seeing breakout successes in. In those? Like what. What's the shape of that side of the business these days? Yeah. So basically, we learned two things on these services. I'll talk about service and experiences. Yeah. There are three services. We launch a ten. Three breakout hits. The three breakout hits are photography. A lot of people want photos on their vacation. And obviously if you're a family of four, like, one of you is not in the photo or you're giving your camera to someone else. And you know, you want to remember these trips. So having a professional photographer take your photos for 30 minutes. Yeah. Pretty reasonable cost. That's very popular. Chefs. Chefs are not as popular in very urban areas. But like, let's say you go to Lake Tahoe, you have a big kitchen, maybe you have groceries, maybe you don't want to cook. A chef could come over. There's not a lot of restaurants there. And then the third one's massage. Especially again in vacation or villa destinations. Massage, very popular. Other than that, it's really geography by geography. So we see like in Cellulita, it's a different kind of experience than say, in, like, the Caribbean. So it really depends geography by geography. With regards to experiences, we're seeing a couple of things. Number one, no surprise, landmarks, people. The first time you go to a city, you want to see a landmark. But the thing we learned is the second time you go to city, you don't want to see a landmark, you want to experience food. And the third time you experience a city, now you want to get inside access. So a big thing we learned is is this your first, second, or third time to city, or. Or do you live there? And depending upon the answer to the question, depends on the type of experience we offer you. This is a nuance that we didn't really appreciate the first time around, and now we do. And I think my prediction is the thing that will make service experiences really big is people will start booking them in their own city. That's when the TAM goes by, you know, by a factor of 10. Not to say it'll be every day, but it just makes it a lot bigger. Tam. Yeah. Yeah. Just. Just clicked for me that, you know, one of the challenges of all the marketplaces, like photography, chef marketplaces,

It feels like in staying sane, all outputs. Right. If you ask AI to generate you something around a topic, you know really, really well, it's a different feeling than a topic that you're just learning about. Yeah, yeah. I mean, I think that basically folks are in a place where they learn by comparative cases and the more that they see great examples next to sort of output that's not as good and they can learn why that's ultimately where you see folks then push further and you know, they can then take it on to do more in area and evolve their skills and their judgment, their sort of taste or not. But I do think it's really important to have those conversational loops going and also get your arms around as a design leader what is happening in your organization. Because what we're seeing is more people prototype things and then there's like this latent fear of oh no, what are we going to ship? And is it the thing that is sort of like a random exploration that someone thought was real or is it something that is gone through our cycle and is ready to go and is very well thought out? And in general, the other thing that I'd mention is it feels like there's a lot of tunnel vision right now. You know, I, I think that there's certain models that kind of went, oh, let's learn from 4O and you know, are sort of syncophantic and doing that in especially for engineers and get very latched onto an idea and then it's kind of like the AI psychosis sets in and you're like, this is the best idea ever and you're fully tunnel visioned towards creating it and you can show massive progress. But like, are you going the right direction? Yeah. And I think it's really important to steer and to actually be building what you need to build and to think, not just wear a thinking cap. So that is something that I think is critical right now. Yeah, and I completely agree.

But, but what is driving the growth? Is it both? Is one more of an opportunity for you over the next few years? Like, what are you most excited about? I mean, I think we're seeing growth kind of across the board right now and we're very thankful for that. But our eyes are always in the future. And, you know, the same things that I've said when I've been here in the past and I think have become their own memes around design being the differentiator. And design is the layer above code. As code commoditizes more and more, design is, I think, increasingly the battleground. This is where everyone is going to really duke it out to figure out what the direction is that they should explore and what they should go build. And we need to build for that world. A world where design representations, code representations can live together. And a world where, you know, you don't have to make these false trade offs between direct manipulation and AI or, you know, being able to explore broadly or make fast progress. Like both is the answer. And so that's what we're really building for right now. Exciting. Well, thank you so much for taking the time to come on the show. Have a great rest of your week. Great to see you. Good to see you all. Thanks. Goodbye.

Do the inference performance per watt is excellent when these are. Yeah. How did you grapple with the question of whether or not Nvidia is a car? There are competitors, you said low single digit percentage of the market. But AMD is getting its act together. Intel's maybe back in the game in a few years. You have Trainium and tpu. Competition is rarely a good thing. Is Nvidia a car or not? Okay, obviously it's not a car. I would have loved to, I would have loved to be in the room with you while you saw that segment. You just like taking your computer smashing. I, I think I was tweeting about it. I think I wrote a piece on it. I wrote like you know, four or five hundred words about that. Sure. I don't know if we want to go into that but you know they're going to be 80, 90% of the market. Maybe they'll lose 10% of the market share in two, three years, but 80, 90% of a market that growing 50, 70% a year. The hyperscaler capex numbers went up huge. There's like 780 billion going a trillion dollars next year. The market believes with Nvidia's valuation that Nvidia is going to stop growing within the next year or two. But the overall market I think is going to keep growing at 50% at least. If it grows 50% in the next two or three years, Nvidia is going to grow. Even if they maintain market or, and I don't believe that's true, I think they're actually going to maintain or even increase market share. But even if market share goes down 10%, I mean the numbers are just insane. And I don't think Nvidia is going to trade at like 10, 12 times earnings when they're growing at 50%. I mean that doesn't make sense to me. So I think it's going to re rate higher. And then the key thing here is the stock stock buybacks because that's like if you guys remember during the whole iPhone, like when the iPhone 5 and 6 came out, when they actually had the large screen iPhone, Apple was trading at PE7 like X cash. Like people thought Android was going to almost look the same thing. Like Android's come in and destroy the iPhone market share when iPhone went on this generational run with the large screen iPhones. Right. But a big thing that Apple did was they started buying back stock and that's when their multiple started going from single digits to 15 to 20 to 30 times. And I think what and they already kind of hinted at it but I think Nvidia is going to start buying stock buyback in size. They they said 50% of their free cash flow in the next 12 months. They're a little bit cryptic on if that was after before prepaid the prepayments they have for the inventory and suppliers but I think we're going to get some more clarity tonight and if if they actually put numbers maybe it's this quarter and next quarter if they actually put the actual we're going to buy x hundreds of billions of stock you know in the next 12 months I think the PE is going to re rate much higher so as soon as we get visibility that next year is going to keep growing at 40, 50% or higher I think it's going to be higher and the year after that that stock should go on top of the rerating from the capital returns. Gavin Baker was on our friend Patrick's show this morning. He was making the point that it's possible that TSM.

Nvidia this quarter this year. What are you watching? So we had like two unbelievable quarters the last two quarters and I expect another great, amazing quarter. I mean Jensen is out there saying GPU consumption is through the roof. On Monday he said AI demand is far exceeding supply and capacity. So I think the numbers are going to be great. And this is without even China. So I mean the absolute scale of these numbers are mind blowing. We're talking like 80% growth on a $80 billion number. 79 or 80 billion. Just think about it, in three months, right? So the absolute scale and the stock is like almost as cheap as it's ever been. Like it's trading at 19 times forward below the S&P 500, which is growing at like 10%. Nvidia is growing at 80%. So this dichotomy where Nvidia is becoming more and more undervalued and we could talk about why. Yeah, yeah, I'd love to know. Is that just because the, the largest company, 5 trillion. It's hard to wrap your mind around a $10 trillion company. Every year we go through this cycle, the last three years, during this whole upswing up, everyone says peak is here, right? Nvidia can't grow anymore. And then video keeps growing at some ridiculous growth rate. So the skepticism, the only reason why it's trading at below market multiple is that the AI skeptics believe that the peak year is near. Right? There's going to be a no. Is it AI skeptics or is it TPU and Trainium enjoyers? That too. They believe competition is coming and they're going to gain market share. Yeah, I kind of, kind of laugh at that. And the numbers that people put out there for the competition, it's like a rounding error. It's like a small, low single digit number compared to what Nvidia is going to grow the next few years. And what people keep forgetting is if you actually look at the numbers, Nvidia has a trillion dollars in orders. They're the ones that have locked down all the memory. I met someone, a guy at gtc. He's an optical startup. And Nvidia locked up all the capacity for lasers and optical. So Nvidia has the supply components with memory wafers, optical. So they're pretty much the only game in town if you want to actually buy AI GPU capacity. Like TPU gets headlines. But I mean $5 billion, like is nothing when you're comparing it to a trillion dollars. Right? So they have the volume, they have the great power per watt. Numbers and metrics that basically, if you're doing inference, Nvidia GPUs, even, they cost a lot more upfront when you actually do the inference. Performance per watt is excellent. When these are. Yeah. How did you grapple with the question of whether or.

Plans to go long. SK Hynix. It's a huge, huge moment over there in South Korea and everyone's making fun of these Koreans for being long memory stocks. But I mean we're talking single digit P multiples, probably lots, two to three more years, triple digit growth. I mean I quoted this Michael Dell thing where he spoke to a Wall street conference. He says 25. 25. That's the thing you need to know about memory stocks. AI accelerators have 25 times more like AI GPUs from Nvidia. Two years from now going to have 25 times more memory per GPU and there's going to be a need for 25 times more GPUs. Wow. So he said multiply 25 by 25, you get 625 more revenue, et cetera. And you layer onto the fact that four years ago all these memory companies saw their revenue exp know get cut in half. So they didn't expand capacity. It takes three to four years to expand capacity. So we're going to see like mega pricing power. Like we haven't seen anything yet. These stocks are going to go keep going higher and the revenue revenue rates are going to be astronomical. So everyone makes fun of these Koreans for piling into single digit PE stocks growing at triple digits. And this cycle is different because there are only three companies that can make make the HBM memory. Yeah, don't make fun of the Koreans. They're right, don't. Is the pullback that you pushed that you mentioned like when they were beaten up, was that the post crypto.

I mean, Steve Wozniak crushed his commencement speech. We have to debate this to see was he actually a good communicator? Is he setting the tone correctly? But we should still play the clip of Steve Wozniak, the co founder of Apple at Grand Valley State University, because he talked about AI, and unlike Eric Schmidt, he did not get booed off stage. He actually got cheered for for his comments. Wait, this was. Who was it, Tyler? Steve Wozniak? No, no, no. I'm a big fan of Steve Wozniak. I love the Woz. Shots fired. Let's play the clip from Grand Valley State University on Instagram here. Can we play this from the beginning? It might loop back, but he's doing bits. He's getting laughs. You all have AI. You all have AI. Actual intelligence. Oh, Mic drop. Knee slapper. Hey, Playing to the crowd. He knows the audience. He knows the audience. We're trying to figure out how to make a brain. Software hardware, synapse chips, and I was at a company where the engineers figured out how to make a brain. Takes nine months. Yeah, knee slapper. But he knows the audience. He's delivering the right thing. Is he AGI pilled? Is he super intelligence pilled? Probably not, but it is regardless. I think it's potentially the right framing for the crowd. It's knowing the audience. And that is a way to bridge to a broader conversation about AI, a broader conversation about how humans fit into post AGI world. I don't know. We'll have to go watch the full close.

This is the video I was referencing with with Marcus. I'm very concerned about these gentlemen. Okay. And what they're doing. Pull it up. Pull it up. What's happening? Let's get like. This is. This is insane. Contact. I mean, the helmet is getting dented. I think this is breaking. Not an issue. Skill issue. They really hitting that, aren't they? Run it. Run it back one more time. He's just. This is just wrong. They're taking it too far. I don't. I don't see how you leave this without a concussion, but we'll try it out after we. We have the gong mallet. Yeah, that seems like it would do some damage. Thank you for tuning in with us today, folks. It has been an honor of.

There's also. People are benchmarking Omni Flash, which looked amazing when we saw the videos. There were a few little quirks. Some people in the chat were saying that the firing order of the V8 was not correct. Maybe it was only a V6. Yeah, it was missing two cylinders. It was missing two cylinders, but it looked good to me. I don't know. But now people are actually comping it to Sea Dance 2.0, which obviously has much looser content restrictions because I guess just like Hollywood can't file a lawsuit in China. I'm not exactly sure how that works because Sea Dance seems to be available in America. It seems like maybe. Oh, I think, I think Chinese businesses have been relatively immune to U.S. copyright law for a very, very, very long time. And it also might just take like years to file a lawsuit. Do discovery actually go through and litigate? Oh, yeah, you can just go like there's malls in China where you can go to a Nike store. Yeah. And. And Nike has nothing to do with it. And yet all the products they've been selling Swatch APs over there for decades. Yeah, yeah. Just ask Rolex and Patek how they're. Sure, sure. Yeah. I've heard fake cars too. Like you can get a full replica of like a G wagon that's just made in a factory and then you could buy it, bring it over here and you take it to a Mercedes dealership and they're just like, this is not a Mercedes, but it looks like one. Like, you know, to the millimeter from the outside, but internally it's just frauding. Anyway. Sea Dance 2.0 looks great. Omniflash looks great as well. These are both super useful. We'll see how they actually play out and how they get implemented, how they get used. The interesting thing will be at what point it still takes a long time to generate videos. Very hard to get them right. We're at 99% fidelity. But when you click in, you start noticing little details. When will we be in a paradigm where you ask a question and you actually get an explainer video? 6 minutes, 10 minutes. Minutes like you would on YouTube. Very computationally expensive, very difficult to maintain the logic, like, what is the deep research report of OMNI Flash? These 8 second, 10 second, 20 second videos are impressive, but not perfectly substitutable for a 20 minute YouTube video because of the time and the level of detail that you can go into. Some people that are looking for information about a V8 engine, they want a breakdown that lasts 20 minutes and so that's the next benchmark. We gotta move the goalposts anyway.

Anyway, Genie 3, you can now simulate real places by grounding Genie 3 experiences with street View imagery. Google is sitting on a motherload of real world data. I was always thinking YouTube was going to be so valuable for Omni and VO3v04. Maybe in the future. I hadn't considered Street View as a trove of data. Demis seems very data pilled. He seems a lot of the MAG7 CEOs seem very data pilled. There's that story about Mark Zuckerberg screen recording or logging all the computer use from all the Meta employees. These important troves of data are increasing in value and Street View certainly seems like it's one of them. This is cool. I wonder how interactive this will be, how this actually instantiates into a game. It's a great demo. What does it take to build games? Yeah. Or do they allow people to build games on top of this? Yeah. I just think about. I don't know, I mean, Demis has a background in games and he was sort of alluding to the fact that he might go back into games at some point or at least be able to scratch that itch again. Famously, he wrote a programmatic code to generate vomit in a roller coaster simulator. Very fun story. But again, when I think about Roller Coaster Tycoon, which was not, I think. I don't think he was actually working on that game. It was a similar theme park simulator. But we are moving back into the simulator world. But the mechanic is what is so enticing to gamers. Often when I think about the games that I've spent a long time with, some of them have incredible graphics, AAA graphics, some of them have 2D graphics. But the mechanic is great. And so that is what gets me to get the legend. Bobby Chipman in the X chat says, can't wait for smart glasses to fully replace my monitors. Yeah, maybe you'll need augmented reality or something. Meta Ray Ban display. Certainly going that direction. The Orion, I've been surprised wasn't the first episode we ever did. We were talking about Orion and they still haven't shipped it. Right. I mean, they shipped a smaller version, the Meta Ray Ban displays, which have sort of the Call of Duty hud. It's not full augmented reality. I was expecting. I was expecting. We've demoed the Orion headset and it has a bit of a narrow field of view, but it really can put a screen right in front of you. And I assumed that everyone was saying it's really expensive, it's clunky, it's not ready for primetime. But look at how fast things are going. In a year, maybe two, we'll get it. And maybe that's coming at the next meta connect. Maybe this summer we'll see it, but haven't been that many rumbles on it. And then obviously the massive pitch shift to AI Capex might have taken a backseat. I don't know. I'm certainly hopeful. I like AR and VR. I think we're overdue for a new fun product. I'm still waiting for the next Apple Vision Pro, Apple Vision Air. Something just lighter, that's all I want. Cheaper maybe, but lighter. And same screen. Screen was great anyway.

Lots of fun. Warby Parker, resilient. I mean, in 2021, it was a $6 billion company. Now it's a $3 billion company. Not the best scenario, but surprisingly resilient. I think in a time when a lot of people wrote off a lot of the standalone direct to consumer, it was like either get rolled into a bigger company or go or like, face the fate of the public markets. But worry. Parker has a deal with Google and Samsung. Google says we're partnering with Samsung, Gentle Monster and Warby Parker on new intelligent eyewear. Here's a sneak peek at two designs from this fall's upcoming collections. And people are. I like Futuronomics from Sam. Kind of crazy that you can wear your favorite Mag 7 on your face. Now you can. The Gentle Monster one does a really good job of hiding the camera. I imagine that it will have a light to tell you if it's recording, but if someone wore these from a distance also Meta Ray Bans have done sort of the hard work of becoming the first face computer. So when you see Ray Bans and they're a little thick, you start immediately thinking, oh, should I be looking for a, for a camera lens? Am I being recorded? But the Gentle Monster design, that silhouette doesn't scream technology. It doesn't scream wearable face camera. And so these are going to be a little bit more stealthy. Warby Parker's look nice, but the camera on the Warby Parker, you know, it makes a lot of sense that the Googles and the metas have to go and partner on different silhouettes. Yeah. My expectation, my uninformed expectation is that Apple will just make Apple glasses. Right? They will probably. It's hard to see them taking the route, at least early on, of partnering and allowing another company to influence the design language. But it makes a lot of sense that Meta would partner with luxottica. Okay, first look at the camera bump on this. If you zoom in as far as you can. I don't know if we can zoom in any further, but the camera is actually not flush with the frames. It's actually, actually protruding a little bit. Yeah, you can see it right there. Interesting design choice. I wonder how that will catch the light, how that will reflect in. In. In the real world. Is that true about Apple? I thought that they had a partnership. I thought someone. I saw this on the timeline that Apple would be partnering with someone on frames. Maybe that was just a rumor. I don't know where it went. Okay. So, yes. Oh, Apple has Carl Zeiss, which I guess is like a glass manufacturer? I don't know. Do they make glasses? Glasses? Carl Zeiss ag, German manufacturer of optical systems. Oh, they make eyewear. They have an eyewear collection founded in Germany in 1846. Okay. By optician Carl Zeiss. The Zeiss Eyewear collection. I don't know, but this was all from a joke from Abdu Says. Okay, so Apple has Carl Zeiss. Meta has Ray Bans in Oakley. Google has Gentle Monster and Warby Parker. Boring. Which company is going to be bold enough to slap wearable technology into some 3M safety glasses? Would you rock these, Jordy? I like them. 3M safety glasses. You know what I'm talking about, right? You're working with a buzzsaw. I do know dust in your eyes. But these. These look cool. These are sporty. I'm much more likely to just commit to the bit. Just go full interface computer. Full cyberpunk. Full clank. Yeah. Full sync. You'd clank out. Full cyberpunk. I think that might be the move. I don't know. For some company, a challenger company could potentially do that. Maybe friend or something.

Taking a normal dose of creatine, take a much higher dose. The only other thing I'd say is for those listening, I'm a big fan of compound movements. I think the most important exercise, if you only do one, is a squat. And I. Sorry, Brian, I don't mean to laugh at you. We have these sound effects, so. John, talk. It makes it sound like this. Can you push? It makes my voice sound like this. And Jordy was doing it to you during that last bit and it sounds ridiculous. Yeah. I really like compound calm lips. Compound lips. That's good. That's exactly how I'd want to be able to say it when I'm saying talk.

Let's start with Intelligent Eyewear. If you had to pick Warby Parker Gentle Monster. Have you heard of Gentle Monster before? I've heard of Warby Parker. I know the story. I'm a fan of the business story. That's super familiar. I haven't worn glasses in a very long time, so I'm not really in the market. But the Warby Parkers, I've always enjoyed the way they thought about the brand and I've also been impressed by the way they built that business. They were early to the D2C boom and then didn't some of the founders move over to Harry's. Is that the same team or is that a different Maybe I'm thinking of they were certainly. When I. When I think of D2C I think of Warby. Yeah. I think of Allbirds. I think of Everlane. Yes. But when you think of to the last two out of those three, the market caps are sub 100 million. Allbirds was trading at what, 20 million or something and then spiked because of the AI thing. But Allbirds, Everlane, not really sustainable businesses. Warby Parker on the other hand current market Allbirds has imagine sitting at three and a half Billy Birds has pretty much been down only down only since the pump on there neocloud. No surprises there. Well have they given us an update on how they are rolling out Kubernetes, how it's going building their NEO cloud? Did they get allocation? Are they racking Cerebras? Are they racking GB2 hundreds? What are they racking and how fast are they getting power would be. It would be funny. Jensen ends up having to talk about Allbirds on the earnings call today. There's a new. Yeah, didn't they also like fully rebrand the name? It was going to be like bird AI or all AI. Like they were moving. Allbirds still exists. Okay. But they basically kept the public entity and that's what they're building the NEO cloud through. Fun. Well, lots of fun. Warby Parker Resilient. I mean in 2021 it was a $6 billion company. Now it's a $3 billion company. Not the best scenario, but surpr Resilient. I think in a time when a lot of people wrote off a lot of the standalone direct to consumers either get rolled into a bigger company or go or like face the fate of the public markets. But Warry Parker has a deal with Google and Samsung. Google says we're partnering with Samsung, Gentle Monster and Warby Parker on new intelligent eyewear. Here's a sneak Peek at two designs from this fall's upcoming collections. And people are. I like Futuronomics from Sam. Kind of crazy that you can wear your favorite Mag 7 on your face now. You can. The Gentle Monster one does a really good job of hiding the camera. I imagine that it will have a light to tell you if it's recording, but if someone wore these from a distance also. Meta. Ray Bans have done sort of the hard work of becoming the first face computer. So when you see Ray Bans and they're a little thick, you start immediately thinking, oh, should I be looking for a. For a camera lens? Am I being recorded? But the Gentle Monster design, that silhouette doesn't scream technology. It doesn't scream wearable face camera. And so these are going to be a little bit more stealthy. Warby Parkers look nice, but the camera pump on this, on the Warby Parker. You know, it makes a lot of sense that Googles and the metas have to go and partner on different silhouettes. Yeah. My expectation, my uninformed expectation is that Apple will just make Apple glasses, Right? They will probably. I. It's hard to see them taking the route, at least early on, of partnering and allowing another company to influence the design language, but it makes a lot of sense that that meta would partner with luxottica. Okay, first look. Look at the camera bump on this. If you zoom in as far as you can. I don't know if we can zoom in any further, but the. The camera is actually not flush with the frames. It's actually protruding a little bit. Yeah, you can see it right there. Interesting design choice. I wonder how that will catch the light, how that will reflect in. In. In the real world. Is that true about Apple? I thought that they had a partnership. I thought someone. I saw this on the timeline that Apple would be partnering with someone on frames. Maybe that was just a rumor. I don't know where it went. Okay, so, yes. Oh, Apple has Carl Zeiss, which I guess is like a glass manufacturer. I don't know. Do they make glasses? Glasses? Carl Zeiss ag, German manufacturer of optical systems. Oh, they make eyewear. They have an eyewear collection in Germany in 1846. Okay, so by optician, Carl Zeiss, the Zeiss eyewear collection, I don't know, but this was all from a joke from Abdu Says. Okay, so Apple has Carl Zeiss. Meta has Ray Bans in Oakley. Google has Gentle Monster and Warby Parker. Boring. Which company is going to be bold enough to slap wearable technology into some 3M safety glasses. Would you rock these, Jordyn? I like safety glasses. You know what I'm talking about, right? You're working with a buzzsaw. I do know dust in your eyes. But these, these look cool. These are sporty. I'm much more likely to just commit to the bit. Just go full interface computer. Full cyberpunk. Full clank. Full. Yeah, full. You'd clank out full cyberpunk. I think that's. I think that might be the move. I don't know. For some company, a challenger company could potentially do that. Maybe friend or something. Anyway, what else? So Warby Parker traded down on the news, which Shiel Mona was surprised by. Warby Parker down 14%. They announced a partnership at Google I O that's been in the works for a while. Is it because they aren't available yet? And our friend Rat King Mike Isaac says okay, Google AI glasses with Warby Parker are officially coming for meta ray bans. Google also said it would bring Gemini two glasses this fall with Samsung Electronics and the eyewear companies Warby Parker and Gentle Monster. The glasses, which work similarly to meta Ray ban smart glasses come with a camera, microphone. Yeah. At what point does Google just buy Warby Parker? Right. It's a $3 billion company. It's actually done quite well over the last. Over the last six months. It's up 43% in the last six months. Although it's been almost flat this year, I would say. I expect that smart glasses are going to have product market fit among people that need to wear glasses first. Right. If you already have to wear glasses all day long for your vision, why not throw some smart features in there? It's going to be harder to get someone that doesn't need glasses to add a new device to their rotation. Right. Yeah. And so Warby Parker's done quite well and has been surprisingly resilient. But they have incredible distribution and I wouldn't be surprised if they get sniped at some point. I mean, deeper integration into a traditional, I don't know, like workflow. A lot of the Google I O we'll get into this, but was talking about Spark, the personal AI assistant. And when I think about. It's in Spark, it's an AI. Oh, just look in Omni. Yeah. There's a lot of names. It's Google. There's a lot of products you're referring to, of course, Nathan Clark's post. It's in Gemini just created an AI studio. Oh, it's for your personal Google account for workspace. You need Gemini Business. No, not Gemini Advanced. That's AI Pro now. Unless you need AI Ultra. Oh, agents. You do that in Spark. Actually, no, not Gemini. API manages it and it's the typical meme. But the interesting thing is that I do think Meta Ray Bans, it was always like, okay, you have a deep integration with WhatsApp, you have a deep integration with Instagram DMs, maybe Facebook Messenger. Some people are still using that. But in terms of wiring into your life, there are way more people that see Google Docs, Gmail as like the central node in their personal life. Like people think of like my all the stuff I have saved on the desktop of my MacBook is like my core repository. A lot of people think, okay, for the important stuff, I'll put it in Google Docs or Google Drive. And then most things flow through Gmail. Most things flow through iMessage. There are some people that just are like, yeah, WhatsApp is the number one screen time for me. That's where I really organize things. But Meta doesn't really have this knock on effect of like, oh yes, it's not necessarily an enterprise level productivity suite. But there are people who are like, yeah, I'm using Apple Mail iMessage. I save my files in Apple Files, the cloud storage. I use my camera roll. Super important. So an AI agent running through the Apple ecosystem can be valuable and an AI agent running through the Google ecosystem can be valuable. The Meta Smart glasses, it's a little bit trickier to go and do anything because you're just like sort of bumping up against the walled gardens, right? Yeah. But investor Nick doesn't like them for aesthetic reasons. He says these Google X Warby Parker glasses are horrific looking compared to these Meta Ray Bans. Someone is probably going to lose their job over this. I don't know that they look that much worse. I don't know. Ray Bans are a very iconic silhouette and they do look good. So we'll see, we'll see how the response goes. I think from a product perspective, there's obviously fertile ground. On the flip side, the Red the Wayfarer is just such an iconic. It's more iconic than anything Warby Parker has produced. And that's just sort of the reality of brand building over a decade versus a century or something like that. However long Ray Ban has been around, long time, right?