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They loom large. They loom large. But why would a customer want to print something? Walk me through the thesis. Like, how is this actually playing out? Yeah. So today people are using their favorite AI coding tools to build using our SDK, which really surprised us that your sort of average family was sitting down around this new shared surface trying to create their own experiences. And so we've decided to really lean into that and are creating a product we call Board Studio that really makes just easier for your average person to start to build. So they'll sit and just prompt and the Board Studio will create the experience for them, including their very own custom miniatures. So very excited to see what people are creating. Everything from educational apps to things for healthcare settings or bars or restaurants. It's really been a diverse range of interactive experiences. Yeah. What's the, what's the secret to making a. You know, basically I'll call it like a Vibe coded game studio. I imagine you want, you don't want to change is like reskinning the best way to think about this because coming up with like original game mechanics and rules and all these things feels like much, much, much more challenging for the average person than just deciding like, I'm going to make this character look like this and I want to change the setting and choices like that. Yeah. So I think it's important for us to really create like a batteries included environment. So to give people good project templates, good asset libraries, an easy way to connect directly to their board so they can kind of automatically build, deploy and play games and start to test and to help kind of steer people towards experiences where they really can go from prompt to prototype in an hour. So that's not going to be creating highly complex games with where the technology is today. But it's quite impressive how quickly people are able to create things that are fun just using a set of prepackaged assets and templates. Walk me through where the board SDK ends and the Vibe coding begins. It feels like there's an SDK that's open source, hosted on GitHub or your website, something like that. I download that and then I can kind of use the Vibe coding tool of my choice. I could use Codex, cloud code, whatever I want to sort of build. But then am I testing the game in a browser? Is it going, am I deploying to the board? Is there the idea of test flight? Or then at some point does it get released to an app store that you review? Because I imagine there's all sorts of privacy and security goals that you have in mind as the company. Yeah. So for Q4, you'll be building on a computer and then directly deploying on your board for use with your own family. I think our learning has been the act of creating a game on board is actually one of the most fun games on board. So I think for many people, the experience is just going to be vibing things that they love and that their kids love, that they want to play in their own homes. And then from there, if they want to share with the broader community, we have a review process. So. So you submit your game to us. We have content standards and controls, and then we'll release those games in our board store. So the first of the community games goes live next month. And that was something that a member of the community created using the arcade pieces from our arcade suite. And it's a reimagined game of pinball that we're super excited about and that will go live in July. And it just went through our review process to ensure that it was fun and accessible for the community. Yeah, I have a game idea, Monopoly style game where you develop data centers. Yeah.

Be good, but actually take us through the real monetization plans because we've riffed enough and I want to hear the real story. So, yeah, I mean, today Particle launches ticketing. It's available on app on web. You can now buy and sell tickets directly on protocol. Fantastic. So it's not just us making money, it's host making money too. And that's the most important thing. Very, very cool. Who I want to know. Yeah. Is it like walk, crawl, run, like, do you imagine that you're going to bring in like a new, like, you know, like a, you know, like a band that's performing at a concert and that's going to be a new user that has been on the fence and not jumped in? Or do you think that there will be a sort of more gradual evolution from people that are throwing events on Parterful? It's an easy add on. So the next one in their series of events they will just have paid ticketing for because they already have a lot of traction and they're a power user. Yeah. Little bit of column A, a little bit of column B. So the impetus for building it was something that had been building for quite a while, which is that people were already trying to host paid events on Parkful. Yeah. You know, supper clubs, run clubs, you know, community events, concerts, album release parties, fundraisers. And because we didn't have ticketing, it was not a great user experience. Like hosts were linking out to other platforms, guests weren't sure, like, does my RSVP count or does my ticket count? Hosts were cross referenced. So that wasn't really upholding our standard of what we want Particle to be and what particle is known for, which is having a super seamless experience no matter what kind of event you're hosting. And so first and foremost we saw this as a feature gap and it was always a question of, well, when do we close this feature gap? And I think the tipping point for us was starting last year we launched our Explore Feed, which is a tab on the app that you can go to and you can browse events that are happening around you. They're highly curated, you can see what your particle mutuals are going to. And increasingly people are using that as a place to discover things to do. And so with the launch of Explore, we started to see a proliferation of these events that really needed ticketing because they're marketed to the public, because they're often higher production value. Like it takes real money to put on a lot of great events and that funding for hosts has to come from somewhere, and it typically comes from selling tickets. And so all of that really culminated where we were, like, first and foremost, we want to create a much better experience for the hosts on Particle today and the guests on part of Full today to do what they're already doing, but in a seamless way. And then two, we absolutely know that there are types of events that you can't have on Particle because we don't have ticketing. And so we're hoping with this that we can grow and actually get even more of those events onto part of all that weren't on the platform previously. Yeah, I can imagine, like, a lot of even emerging artists that aren't on, like, some insane, you know, tour, et cetera.

Okay. Well, anyway, take us through the launch today. Tell us what's happening in Gusto world. Yeah. So today I'm really excited. I think it's the most important moment for us as a company since the launch of the company almost 14, 15 years ago. And we're launching today. Gusto co founder. Gusto co founder is really the first agent that can automate most of what a small business does in their back office. You guys were just talking about personal computers, and I have a Mac Mini where I set up Open Claw. It took me eight hours to set up. Yeah. Pain in the ass. Yep. And as soon as I got through the entire setup, I didn't really know what to do with it. Right. I still kind of like, use it as a glorified search. Search engine. Sorry, someone on your. Someone on your team was in the office. We're in the office here in Dogpatch. People still using it still as a glorified search engine. And that's kind of the problem that we set out to solve with Gusto co founder. Yeah. Instead of starting from the technology and then giving people a blank canvas on something to do with it, what Gus the co founder does is we start with all of the problems that we're already helping our customers with. Payroll, benefits, hr scheduling, time, and then we bring on a lot of the power of AI into it. So at the center of Gusto co founder is a concept called Automations. And essentially you tell us what your business processes are, starting with payroll, benefits, all these things that we're already doing for you. And Gusto co founder will basically run your business process for you. You communicate with it through SMS and Slack, so you don't really even interface with it through a website. And then of course, we'll connect to all of your systems that you're using outside of Gusto as well. So Notion, Quickbooks, Google Workspace, you have a lot of information and data that sits outside of Gusto as well. What Gusto co founder does is it brings it all together into one place where it can automate your. Your. Your business processes. Why? Why SMS and Slack? Why not like a chat in your face and a Gusto app directly? Like, what. What. What does that allow you? Because I think it just. I mean, yeah, I'll tell you, it just mimics exact. I mean, I remember even with how Gusto, how easy to use Gusto was in 2018 when I had my first business, I was still relieved when we hired somebody whose job was just to kind of like handle everything on the payroll. Side and if I needed something done, I would just text them or I would slack them and say, hey, hey, can you do this thing? Or hey, we're onboarding this person or this contractor. You know, we needed to like make sure they get paid by this day or whatever it was. And so I just think like, actually, actually making it feel like a teammate is getting you much closer to the experience of like, people are not waking up every morning. Entrepreneurs are not waking up saying, like, I want to spend a bunch of time in my payroll platform today. Right. Like, you want it to be so seamless that it's just happening. Yeah, that's exactly right. We want it to feel like your teammate. It should be someone that you feel comfortable texting, having run processes for you. So you could have it actually text you when it's run your payroll. It'll tell you the total amount and all you have to do is say, I approve it. It'll actually run your payroll. So you never even have to log into Gusto to run your payroll ever again. If you want to do more one off things like, hey, pay this contractor 500 bucks, you could just text it as well. One of the things I really loved about openclaw is just. It just blew my mind. It was such a simple concept that seems so obvious, the ability to text with it through telegram. And that's kind of. I wanted to bring that magical experience into Gus, the co founder. It just really changes the game and it's hard to understate how important that is. Yeah. So is the product development for this sort of like indigenous in the sense that you're.

Moving that to space is the obvious thing in the long term. I'm glad to see it's happening sooner. Seems like you're excited about both the Moon and Mars. Elon was like a Mars maxi for a long time. Now he's interested in the Moon. It's been exciting. I'm obviously excited about both. But what is different about these two missions? Obviously the moon's closer, but what's uniquely unlocked by the moon? Why is the Moon important? Why do you see Mars as important as well? Obviously you should never stop. I hope you wind up going to Alpha Centauri soon. But let's just narrow in on Moon and Mars. What are the unique opportunities, what are the risks? What are the trade offs? I've always been more of a Moon person myself. I think the Moon is more important in near term. It's easier to have a permanent base there. And I think everything we need to build in space is on the Moon. The metals, you know, water, you know, oxygen. So everything we need to, to be self sufficient of building megastructures in spaces is there. And I would also add near, near Earth objects. Some of them are easier to get to than the Moon. Mars is super important. What's a near Earth object that's closer. There are secret planets or asteroids out there you know about and I don't. It's a near Earth asteroid. Okay. Yeah. The thing about the moon is it still has a gravity well. You know, we talk, we talk in kilometers per second. Earth has a gravity well of like nine kilometers per second. And the moon has a gravity well like 2.2.4. Okay. But it still have you still. That's a lot of propulsion to, to, to break down onto the moon at 2.4 and then come back. You're talking 5 kilometers per second total. That's a lot of Delta V. And you got to bring that with you. Yeah, you gotta bring the propellant to do that. That's why the Moon is still pretty tough. Whereas a small asteroid is, you know, this is meters per second maybe or centimeters per second because the gravity's so low. So you don't have to use all that propellant in order to get there and back. So. And those meteors. I'm not trying to quiz you on something that you might not have dug into, but I'm fascinated. Are these like meteors that are just passing by and the whole point is that they pass by regularly enough that we could go up and back or are there act meteors that are like orbiting the Earth right now? That I don't know about. There are, I mean there are, I think there's one right now. Right. These things get temporarily captured orbit and then they eventually around the table and they get thrown out. Like the moon will throw them out or something. Yeah, but there's, you know, there's most of them are, you know, further than the moon. Yeah. But once you escape Earth's gravity, it just takes time to get there. But, but you don't have a gravity well once you, once you, once you get there to get the material to come back. But the moon is easier in just that you have surface gravity and a nice surface you can land on and build on. So I think the moon is super important also. Yeah. Sorry Drew, do you have something? Not right now. I can keep going. I'm interested in both the footprint of the company you mentioned your experience.

It's already selling really well. I think once it starts flying, we won't be able to make them fast enough. So you have the money raised. What are you actually working on in terms of creating reliable manufacturing your supply chain? Because I imagine that it's not enough to build one prototype, a few prototypes, something hand built, that might be something you're experimenting with in the early stages, but the, the name of the game is industrial capacity here. What do the next few years look like in terms of scale? Yeah, ramping up production. We're hiring more people and we're hiring a lot of people in the production area. You know, manufacturing engineers, technicians, all kinds of people. Now where earlier, you know, earlier in the company's history we were mostly hiring, you know, a lot of development engineers. So now we're really getting into production on our products and we, we just moved into, or starting to move into much larger facility here. So filling that out with, you know, production capability. And we're always the same thing that we did at SpaceX. We're constantly bringing more things in house, like getting, becoming even more vertically integrated. Okay. Ver. Vertical integration takes a lot of capital, which is why we've raised a lot. But once you vertically integrated, you have a huge advantage. We see that, we see this with, with SpaceX. Able to, able to execute very quickly, very efficiently at low cost. Basically you can control cost, schedule and quality if you're vertically integrated. And take me through the shape of that vertical integration. Are you buying like tube bending machines, CNC machines, 3D printers? What is the shape of vertical integration? Are you building specific machinery that will just make one product over and over and over again? I mean, that's the tooling part of it, but certainly, you know, milling machines, lathes, 3D printers, and building out test capability. So like raw materials in and you're getting finished product eventually, yeah, you know, you bring in raw material and spacecraft come out the other end of the factory. I love it. What do you think the impact of the SpaceX IPO will be?

You know, you bring in raw material and spacecraft come out the other end of the factory. I love it. What do you think the impact of the SpaceX IPO will be on, you know, the space economy broadly? You know, talking about, you know, maybe people that have been there for a decade maybe ready to do something new. Yeah. How do you think it'll impact the industry? Well, certainly, you know, the space economy has been accelerating, you know, since the time that, that, you know, I've started this company a lot and I think that's just the, really the, the general effect of, of SpaceX and other startups have on the industry. And now with the announcement, it's just supercharged the space industry. It's, which is great. And I love what Elon's talked about, you know, building, you know, basically he's talking about building mega structures now in space, you know, millions of, of AI servers in space. And he's already talking about using the resources of the moon order to build when, you know, when they max out, what they can launch. And this is the theme of my company is like, this is something I've talked about a lot is you need to use the resources of the moon to build these megastructures in space because it's going to be destructive to the earth, to launch it from Earth or grab it from Earth or in the case of compute power, the amount of compute power we're going to need in the next 30 years as it's growing at 15% annually, is just crushing. So moving that to space is the obvious thing in the long term. I'm glad to see it's happening sooner. Seems like you're excited about both the moon and Mars. Elon was like a Mars maxi for a long time. Now he's interested in the moon. It's been exciting. I'm obviously.

That's great. How important was the sim during that time? Did it become more important throughout that early part of your racing career when you're kind of moving up the ranks, or was it important the entire time? It's important the entire time, I guess. The simulators we have, obviously at home or to an extent on a junior level, very obviously on low caliber. When you're a reserve driver, you're doing the sim overnight on your Saturdays, so you're typically at the track on a Friday. You do the first free practice session, the free practice session two, and then you'll fly back to the factory, do the simulator from, let's say 6pm till 3am so all of the things they want to try throughout Friday that they weren't able to overnight because they have curfews, so they obviously can't. Then the engineers can't keep working towards. So you're working that overnight. And then I'll get in, you know, a transfer, head straight to the airport and then head back to the track to sort of deliver this and more in a driver's perspective rather than just engineering. Engineering feedback that's been delivered. So it's very rare that you would have. So you're not flying, you're not flying commercial in that situation? Unfortunately. Unfortunately, yeah. I mean, it's just crazy because it seems like a pretty tight window. You know, you're. You're going to the factory, getting on the sim, getting off, headed straight to the airport. But then I imagine you're arriving shortly before the race on Sunday, right? Yeah. It just means not great, or let's say preferable flat times and options of sleep. But it's. It's weird. Like you dread it. And then you get to like, like your 12, your midnight, your 1:00am it's tough. And then you sort of then push through. Your coffee's deep. You're also doing some cool things and you enjoy it. You know, definitely after a while and it's not, you know, it doesn't become, you know, you get some bad time zones, like when you're doing. You're in the uk, you're doing for Australia or you're in, well, the Sims, always in the uk, doing Mexico, some weird places where you're having to do some very strange time. Brian. Brian Johnson's nightmare. So literally no therapy there. So.

Mike Isaac said, get ready to get even more annoyed by your cheapest friends because the Germinator is sharing that Apple Ready's iOS 27 service that will let users split bills for dinner's events by taking a photo of a receipt and assigning items to friends. This is annoying super intelligence that I won't be using. This will be part of Apple Wallet and Cash taking on Venmo. And splitwise. You gotta do the credit card roulette. I love that game. Or the inverse credit card roulette, where one person, you take out one credit card, they don't pay, so they get the free dinner and everyone else splits the bill and everyone else pays like 10% more. But someone else got a free dinner, so they get a great. And everyone got great company. Yeah, but no, every dinner should be a ruthless game. Theoretic Nash Equilibrium of everyone trying to drink exactly the same amount or buy the most expensive steak to one up each other so that you don't get taken into the cleaners. With an even split, you want to get your money's worth. So if you see someone ordering the porterhouse, you say, I'll have two porterhouses. Give me two porterhouses. We're splitting this evenly, right? Oh, you got three glasses of wine. Let's do another round. I'll take ten, but triple me up. And I am having dessert. I'm having dessert. Yeah, I'm a big dessert guy. I'm a big dessert guy. Actually, I'll be taking it to go. That's the buzz. I'll be taking it to go. Order lunch for tomorrow, too. And I'd like a third port porterhouse. For lunch. For lunch tomorrow. Let's split the bill evenly. Don't. Don't pull out your apple intelligence on me. Don't do that. What's the crime? Having a porterhouse. Having two porterhouses. Having three porterhouses, four. You're gonna. You're gonna divide that up with apple intelligence. Oh, you don't want every receipt. You don't want one of your good friends to hit their macros. Yeah. What are you trying to do here? There's a whey protein shortage. There's a whey protein shortage, and you're saying I shouldn't order my second and third porterhouse when you know if I go to the store right now, way is going to be priced to the. Let me have a porterhouse. Let me have three. That's a good place to end.

You're watching TVPN. Today is Tuesday, June 2, 2026. We are live from the TVPN Ultradome. The temple of technology, the fortress of finance, the capital of capital. Let me tell you about ramp baby. Time is money save. Both easy use, corporate cards, bill pay accounting and a whole lot more all in one place. It feels so good to be back. You know who else is back? Google with a huge fundraise, an equity fundraise on surprising to a lot of people. You have raised equity in years and years and years. But they raised a cheeky 80 billion. The wall Street Journal has the story Alphabet's mega fundraising show. Let's be honest John, the real story is that you got a haircut. I did. I didn't just get a haircut. I got them all cut. I got them all cut. Hey, we got the team there. There we go. That's a new hair, that's a new angle. I like that. Well, Alphabet in AI money talks, says the Wall Street Journal. The ability to tap stock market capital is important again after a quarter century of being all but irrelevant. So let's run through it. 80 billion stock based fundraising should be taken as a rebuke to those salivating over the forthcoming IPOs of SpaceX OpenAI anthropic. The search giant is showing its competitive advantage in an area that it increasingly matters for artificial intelligence, access to money. Ben Thompson has a great breakdown too of how capital is so important in the age of AI and the war for AI. In AI Money talks, the biggest companies are paying out hundreds of millions of dollars to lure top researchers and tens of billions to build data centers while financing losses as they build their AI businesses. The money being funneled into AI is probably already making it harder for non AI startups to raise capital. With 61% of all venture capital last year going to AI. It's really like I was, I was talking to somebody that, who was trying to yields low like based on, based on. But, but there's a lot of, there was a lot of hard tech. Well, everything sort of gets wrapped into AI. I was talking to somebody. Yeah, that's, that's like, that's why it feels low. How to have a conversation about AI. And it was like you can talk about sycophancy, you can talk about data centers and water and energy and like being an eyesore and then you can also talk about enterprise sales and SaaS and you can talk about consumer. And it just touches absolutely everything. And so it's almost, it feels like if you're Trying to have the AI conversation. Rude. Rude about the Jared Isaac in the years. We love Jared Isaacman. I don't think that's rude. I don't know. Our great space leader, Jared is incredibly handsome. People like saying that about getting a haircut. I got my ears lowered. That's another dad joke. Got my ears lowered. Anyway, yesterday, Alphabet announced a massive $80 billion equity raise, says Brandon Grell in the TBPN newsletter. You can go sign up tbpn.com the raise will be broken up into a few milestones over the course of this year. Berkshire Hathaway, Greg Abel at the helm. Warren Buffett obviously still at the table, but a lot of people, a lot of people were. There was a viral post yesterday, somebody was saying, but Buffett retires and they immediately invest in Google at all time highs. Yeah. What other company did they invest in at all time highs? Was that Apple? Apple. Apple. Apple. And look what they did. Pretty fantastic. Yeah. I mean, for a long time, for what, 30, 40 years, Warren Buffett was known as like, not a tech investor. Couldn't wrap his mind around it. Valuations always too high. Business to too frothy or too high growth. Like. Well, I think he knew vibe coding was coming for sure. And. And he thought, how are you going to. How can I value a software company when the cost of producing software is obviously going to zero? He was saying that back in 2010. Yeah. He wanted to get in on Gen Moji a decade early. Yeah, no, obviously like the business was printing. It fit the Warren Buffett mold. I was actually doing this, this deep dive on like, where would Warren Buffett find value in the AI supply chain? I was trying to dig into, you know, if you apply that framework, because there's a lot of froth, there's a lot of excitement, there's a lot of high growth opportunities. But where would Berkshire trade if Warren came out of retirement and just said, I'm coming out of retirement to invest in a bottlenecks? Not only does Berkshire rerate, I think everything goes way higher. I think so. I think so. Let's see. I want to see. Because I did look at this. And I pulled. John, they want you to crack another Diet Coke. Another Diet Coke. Here you go. Boom. Satisfying another one. When I did this analysis, the name that popped up was Buffett. Saw Gstack and knew that the AI revolution was real. It is God Mode after all. It is. Yeah. In the memo. Well, it's like God Mode. If you are trying to get in on the action, head over to public.com investing for those that take it seriously. Stocks, options, bonds, crypto, treasuries and more with great customer service. So my previous analysis identified Qualcomm has enough AI optionality for the AI investors, but enough business model durability for Buffett and evaluation that does not require heroic assumptions to compared with many AI semiconductor names. Most admired but disputed tsmc Buffett actually bought this company, but then he sold because he was worried about geopolitical risk and there were some other options, but he wound up going with Google and we will break it down. So Berkshire is buying 10 billion worth of shares at a roughly 6% discount from Monday's closing price. Another $30 billion will consist of underwritten public offerings and the last 40 billion will be staggered common stock offerings beginning in Q3, 2026. And overall, the dilution is very low. All the shares Alphabet will sell are brand new, meaning the plan is slightly dilutive for existing shareholders. But at their 4 trillion market cap, where are they right now? They're way, way up. 80 billion just isn't that much dilution for the shareholders. Fortunately, a lot of opinions on the timeline about this deal this morning. I've seen a number of people, or Brandon Crypto rel has seen a number of people theorizing that Alphabet is sucking up liquidity AI demand from investors before they'd be able to buy an anthropic or OpenAI IPO. Richard Reheard Jark gave a few less conspiratorial explanations. Yeah, a lot of people were saying that about SpaceX. Yeah. But the other, the more simple answer is you should probably raise capital when it's cheap. Yeah. And there's just a lot of demand. There's a lot of capital out there and so there's a lot of demand for basically all of these names when there's a new trend and we've seen liquidity pull out of other sectors of the market and so it has to go somewhere. Certainly makes sense that it would go into the latest and greatest technology. So Alphabet is seeing demand for Gemini go up and so it's going to invest more in compute and scale. Ben Thompson had, per usual, a solid piece on the raise this morning. He wrote, quote, the first question is why did Google issue equity instead of debt? So there's some rumors that debt might be coming and the equity is sort of a precursor to that. But Ben Thompson writes, debt is all things being equal, the preferred instrument for investment. The proceeds of the latter pay off better than the former and existing equity holders reap all of the benefits. Equity, on the other hand, removes the risk of debt, but at the cost of giving up a future share of profits. That leads to why, what may be the Occam's razor? Occam's 1D razor, 2D razor. No, a razor is three dimensional. Right. So it's a 3D razor. Like 4D chess. 3D chess. 4D chess. Anyway, Google is going to start issuing a lot more debt as well, which is to say that everyone continues to underestimate the amount of demand there is for compute. Of course, that's not far off from a more bearish interpretation. Google is uncertain about the return of investment of all of that capex and would prefer to share the risk along with the upside. If there isn't a substantial debt issuance down the road, then this might be the right answer. Yeah, I mean, COMPUTE is remarkably expensive. We're looking at even within the cogs or the cost of inference for the labs. We're seeing dollars per task. It's a lot of money, a lot of dollars flowing into these data centers. But when you actually run the numbers on the tasks that they are completing, comp that to other sources to get something done, you're seeing positive roi. So it's all just a productivity uplift, which is good to see. The Wall Street Journal continues and says bond investors think the hundreds of billions of dollars of debt being raised by big tech is pushing up the yield and other borrowers have to pay. And it's even affecting government bond yields. The hyperscalers of Alphabet, Microsoft, Amazon and Meta have become major bond issuers as they ramp up spending, with Alphabet alone raising 85 billion in a series of record breaking issues around the world in the past year. They might raise more in debt, but the stock market is the obvious place to raise capital to spend on the exciting bits of AI where the returns are unknown, technology is rapidly developing and business models are in flux. Unlike debt, companies don't have to repay their shareholders. And if it takes longer to make money from AI or never makes money, the company can simply wait it out. If it was financed by stock though, investors would be very unhappy. Alphabet is one of a tiny number of companies capable of raising so much cash without tanking its stock. What did the stock do? Jordy? It's down a couple points today, but I don't. Okay, not too bad necessarily. Thanks to its near monopoly in online search and credibility with Wall street in new ventures. That's a really good point. For a long time, tech has been sort of cold on Google side projects, but they're starting to bear so, so much fruit. You look at the progress with Waymo and it's very clear that just one win in Waymo will be a power law that will wash out all of the side chat apps that never went anywhere or little software projects and April Fool's jokes that they launched. And some of them will become really big businesses as well. They have other stuff, Calico. They have the mosquitoes right now. The mosquitoes are crazy. That was a weird, weird headline. I didn't know they were in the mosquito business. I'm excited about releasing billions of genetically modified mosquitoes into the environment to try to kill all the mosquitoes. Wait, they're mosquitoes that kill mosquitoes? That's what they do. Oh, okay. They're like infertile or something. Basically. I'm excited because there's like, almost certainly could never possibly be any unexpected downside to disrupting the circle of life. Who knows? Who knows? People have been studying this for like 20 years, so I'm optimistic. It would be one of those things. Like, yeah, one of those things would be amazing. Yeah, we can just nuke all the mosquitoes off the map. But I got a feeling they're doing something important. Yeah, there must be. Let's actually. Let's actually try to get to the bottom of this. Wait, is the. Should we be selling the bug repellent industry short right now? Should we be going turbo short? All mosquito repellent companies, they're probably going to go out of business if they get rid of all the mosquitoes, right? This is Finance 101 right here. Anyway, I can keep reading. Don't give our little retail trader there any ideas he's going to go short. While 80 billion is huge, it amounts to less than 2% of the market value of a company. Trading at $4.5 trillion, the stock was down just 2.6% in pre market trading. There seems to be an unlimited supply of willing buyers to fund AI. If it turns out there is a limit, Alphabet can only benefit by going first. From a societal standpoint, says the Wall Street Journal, the purpose of the stock market is to funnel money from millions of savers into giant projects, just as in the 19th century railroads. For the past 25 years, that role has been less important as private capital funds grew large enough to finance companies for much longer before they needed to go public. AI's vast consumption of cash is beyond even the capability of private markets. However. Sure, there are other reasons to listen, such as allowing employees to cash out their stock options. 30 billion. You mentioned this earlier. Today, 30 billion of Alphabet's stock issuance is earmarked for paying tax on employee stock awards. But the ability to tap stock market capital is important again after a quarter century of being all but irrelevant. As we move into a new era of capital heavy industries, the stock market stops being merely a way for private investors to exit, but an attractive source of capital capital. The bear in me worries that all this equity raising is also about taking advantage of record stock prices and could be a sign that the top is near, says the Wall Street Journal. They're almost calling the top, but they're not near. John Mosquitoes do have some environmental value, though most of it is not unique to mosquitoes, which is why people debate how much the world would miss them. They're a food source for spiders. Mosquito larvae are eaten by fish, frogs, dragonflies, beetles, birds, bats and other insects. And adult mosquitoes are eaten by birds, bats. So we already have friends in the animal kingdom that are just eating them alive. Yeah. So that's good. So you'd be pollination. You would want more birds and frogs around? No, but the argument is that a lot of other animals contribute the same sort of general environmental value. Sure. So if you took out some of these disease predators. Pro mosquito. He's in the pocket of big mosquito over here. He's like, oh, I love, oh, I have a pet mosquito at home. I love mosquitoes. Not a dog person. I'm a mosquito guy. I like mosquitoes. This is you. You're a mosquito dude? Yeah. Wow, that's weird. You ever get an eye like swollen shot by a mosquito? No, never. That was me. I've gotten a few like bites on my legs. You kind of X them out or try not to scratch them. They say don't scratch them because that spreads the poison a little bit. But it's like a minor nuisance. But I think that they spread a lot of disease and, and that's the real reason why people are so aggressive about feelborn illness. Somebody should do a street interview where they go around asking people, would you want to if you had the chance to eliminate all mosquitoes in the world with no downsides to the environment or $100,000 in dinner with Jay Z, what would you choose? Yeah, there would be some interesting answers. Are they releasing these in America? In California? I think so. That's crazy. A private company can release animals. Like could, could, could Microsoft just release like a million bears or something? Like, like what, what's the limit of this? Can you just release like, hey, yeah, like we're, we're releasing 25,000 bison. That was an early idea on this show, right? It was like bear defense companies. Yeah. Domesticated bears, just, you know, wild dogs, more coyotes, more deer maybe. What? Pick your poison. Whatever animal you want, just get it out there. I think if we put enough monster energy. I heard Truth Social is going to release like a million bald eagles. That's their goal. That's the next. Oh, that's why the company's so unprofitable. Yeah. Buying bald eagles and breeding them continuously. No, I think, I think one of the reasons mosquitoes bite humans is there's not enough cans of like cracked open monster energy. Yeah. So I think if you put a bunch of monsters out when you camped, you'd probably be safe. Mosquitoes would obviously much rather have monster energy than blood. And does that sterilize them? I think that might do the trick. It might do the opposite actually. Yeah, it might make them even more powerful. Here's an idea. Release 100,000 bulls charging through Manhattan as a sponsorship opportunity, as a marketing stunt for the New York Stock Exchange. Want to change the world, Raise capital at the New York Stock Exchange. They have the golden bull. There's the bull. Why a ton of real life bulls. Who knows, Maybe it has a positive externality on the life cycle of Manhattan. They wind up finding a home in Central park and the bulls run through Manhattan. Do you think Meta follows suit and does an equity raise like this? Maybe. I can imagine Zuck not wanting to do this right now given where they're trading. The stock's down. I mean it's not that down, but it isn't like popping like the rest of the AI hyperspace. Yeah. I was comparing Meta to Tesla today according to companies market cap, which doesn't seem to be companiesmarketcap.com has one job which is to track the market caps of companies. And I find the data to be somewhat inconsistent. Sort of near all time highs. It's not that far far off. It's certainly up from the trough of when the stock was 100 bucks in 2022 anyway. So yeah, I was looking at the two. Meta had 200 billion of 2025 revenue, $164 billion of gross profit. 82% gross margins growing 22% a year. Tesla had 94 billion. 17 billion of gross profit actually shrunk 3% year over year. And Tesla is getting close to being worth the same amount. 1.3 trillion, 1.3 versus I mean if you look at the Mag 7, if you're just doing the biggest seven tech companies. It's like completely changed hands in terms of like Samsung Micron. There's so many. There's so many companies deeper in the supply chain that are absolutely mooning on the AI boom. So maybe we need a new term. We had Fang for a while, now we have Mag 7. It feels like we're in the dawn of a new one. We'll see. We'll see. Anyway, anyway, where I was going with that, I can see Zuck feeling like I'm not being property properly valued right now. Should buy the stock back if anything. Yeah, if anything. Although they're issued by. They don't have a lot of. Because they're spending a lot on CapEx. Yeah. Anyway, Matt Dratch has some takes on Google on the raise. He says first, I don't think this has anything to do with their view of equity value. So they don't necessarily think they're overvalued. Larry and Sergei want to spend Sundar and the CFO said our debt rating though. And so we are here. They don't want to raise more debt of the 80 billion. 40 billion is for infrastructure. But I suspect that the equity check for a meta like SPV structure will be levered 5 to 6x. In other words, the spending implications are much greater than the headline. Can't believe it's only Monday. So they're going to take 40 billion, lever that up across their infrastructure efforts and put something closer to 200 billion to work over the next year. And that pays for their capex bill for probably just next year because they'll probably be around there in like the AWS tier. Especially on the back of that Google cloud growth. It's growing faster than aws, growing faster than Azure. So lots of reasons to spend, spend, spend. John, they're saying we need a l' oreal ad read from John. Okay, that new hair shout out or I like that company. They're a great, great team. Anyway, Google raising 80 billion in equity. More compute, more I spend Full send downrange. Jack Reigns says the gigabrain move by Google sucking up some of the AI demand via equity issuance instead of debt. Before Anthropic and OpenAI go public, we'll see what happens. We'll see how much demand is out there. SpaceX is going out in just a couple of weeks, so we'll see how that goes. But there's a lot of. There's a lot of money in a couple weeks, John. Couple days. Next week. Next week. I mean there's, yeah, there's a lot of, there's a lot of liquidity across all of the retirement funds that are funneling into these things. There's a whole bunch of different things. Sergei Alexenko has the chart of Google Alphabet equity raises. This can't possibly include their venture round. So SpaceX going out on a Friday, that is going to be insane after the market closes. No, I mean obviously we'll list, but then immediately goes into 48 hours. Yeah, this chart can't possibly include the venture rounds that happened pre ipo. Right. But I guess they might be so small that they don't even show up on here in 1998 because it's less than 1 billion. I mean Google famously did not raise a lot of money. It was very profitable when they went out to go public. And top tick crypto has pivoted to the memory trade and says the memory trade can't keep going because the hyperscalers can't spend more than 100% of cash flow. Well, Google would like a word because they can spend more than 100% cash flow because they can raise equity and they can raise debt and they can get all sorts of money from all over the place. So what else is Berkshire doing these days? Berkshire is investing $10 billion into Google in a private placement as part of the broader $80 billion equity capital raise. Warren Buffett is here watching Greg Abel take $10 billion of money that he painstakingly made over his entire investment lifetime and put it into Google at all time highs. I don't think this is an accurate reaction to Warren Buffett because this play worked with Apple and Google's in a fantastic position to continue doing this. Ben Thompson broke this whole thing down comparing what Warren Buffett had done with See's Candy to buy a railroad, which is a fascinating example. So they bought See's. Berkshire Hathaway bought see's candy for 25 million when sales were 30 million. So less than a 1x revenue multiple. Pre tax earnings were less than 5 million. So they paid roughly 5x pre tax earnings. So EBITDA, the capital then required to conduct the business was 8 million locked away in See's Candy. Then they had some seasonal debt, but generally the company was earning 60% pre tax on invested capital. 5 million out every year. 8 million locked up. So last year, this is from 2007, the shareholder letter last year seas sales in 2007 or 2006 were $383 million. Pre tax profits were 82 million DOL and the capital to run the business, it was only 40 million. So they'd grown the amount of capital by 4x5x, but they'd grown the actual cash flow from that business significantly, from 5 million to 82 million. And so Warren Buffett says this means we have had to reinvest only 32 million since 1972. 1972 to 2007, he's reinvesting 32 million. Every year he gets a check for $82 million. That's a fantastic cash flowing business. What did he do with that business which generated pre tax earnings of 1.35 billion or something like that, which was sent to Berkshire? Well, he bought a railroad. So BNSF Railways. The railways require a ton of capital to operate. BNSF consumed 3.8 billion last year. They also make a lot of money. The net income was 5.5 billion on revenue of 23.4 billion. But it requires a lot of business, a lot of revenue, a lot of cash tied up in the business to run that. And so to put that in perspective, the total amount of money that Berkshire has made from See's Candy is probably less than 3 billion. So less than BNSF made last year. So which is a better business? And he goes on to talk about cloud and Google and how they have the search engine that throws off cash and they can use that to build the railroad of the future, which is all the data centers and AI infrastructure. And so a lot to like. And it's not as much of like, oh, this is wildly outside of the wheelhouse. Berkshire's never seen a business like this. That's not true. This isn't that out of characteristic. It is a wonderful business and it actually pattern matches to what Berkshire has done with Apple and also with the railroad and See's Candy before. So don't be that surprised. But what is more surprising is this story. So do you want to take us through it? But first let me tell you about CrowdStrike. Your business is AI. Their business is securing it. CrowdStrike secures AI and stops breaches in the Journal. Today, Berkshire is convinced the American dream of home ownership will stay alive. I realize, John, there's a bunch of soundboard effects that I would only hit when we were doing ads. That's true. So I miss them. Oh, it's so. Feels great. Nostalgia ads back. I love it. Berkshire is convinced the American dream of home ownership will stay alive. Let's go. Under its new chief executive, Greg Abel, Berkshire raises its bet on a market recovery by adding another housing company to its portfolio. Fantastic. Berkshire Hathaway $6.8 billion deal to acquire. What are you laughing at? I'm just laughing at the fact that like, like, you know, they did two $10 billion deals and one was buying like an entire home builder and the other was buying like 01% of Google. Like and just the scale of these different things. Like, like the. It's an extremely cool deal. We'll get into it. It's very interesting but at the same time it's like total peanuts compared to like the AI build out. Well, yeah, it's like what is that potentially like a work harder or work smarter, not harder moment. Like we'll see which one of these ends up generating a better return. This seems extremely important. I'm extremely excited. Yeah, yeah, this is important. Like, like one data center or an entire home builder? That is their entire business and probably very storied. We'll get into it. Well, we don't know. He might be pivoting it into a data center. Maybe that would be the ultimate. Maybe black two by fours, rack them, you know, meta's using tents. Maybe the next data center looks like a house a lot less controversial. You know the nimby. If you just see a nice Craftsman home next to you, you're like whatever, it looks nice. You know, I don't, I don't have a problem with that. You know, oh, they're chimney smoking. That's the diesel generator. There's a data center among us. This might be the solution. Tyler, what you got? I was going to say like these two deals are still small compared to like the actual cash that they're holding. Yeah. What are they having? I think most recently it was 397 billion. That's so much. Even then it's like, oh wow, you know, he's so white, he's turbo long say. But you know, he's still cash Chad right now. Oh, hopefully inflation doesn't get him. We'll see. Anyway, continue with an all cash agreement Sunday for Taylor Morrison Home Corporation. The Omaha based conglomerate is poised to become a top five US home builder, adding to its growing portfolio of housing related companies. Berkshire's homebuilder deal is a sign that a prominent investor thinks the housing slump will eventually pass and it wants to be positioned to take advantage of any market turn. More than 75% of young renters still think they someday will own a home. That is great. Glad that I would have thought it was less than that given, given like sentiment online and so it's great. There's been a bunch of there's been a bunch of weird studies where like when you zoom out, you look at Gen Z home ownership and it's actually pretty high. But that's driven by non coastal cities because people move to San Francisco. Obviously house prices are through the roof and a lot of people are like, yeah, I want to rent and go to some local house party, like I want to be in the mix. And then at some point people make the decision. So it's more about like family planning. But of course there's all sorts of, you know, affordability issues. But Chat says white pill, never doom, Never doom. This investment is grounded in a long term belief in the strength of America's housing market and its underlying fundamentals, which we see as enduring over time. Berkshire is raising its exposure to a housing market in its fourth year of dismal sales. High mortgage rates, job market uncertainty and the rising cost of living have kept many prospective buyers on the sidelines. Builders have been forced to offer incentives such as paying part of buyers mortgage costs just to unload their inventory. Builder confidence is low. Single family home starts decline 9% in April, the steepest drop since August. A third of builders said they had cut their prices last month. Moreover, many Americans now think homeownership is beyond their budget. More people are renting for longer or putting their savings into the stock market rather than investing in a home. But analysts think analysts say the U.S. housing shortage of more than 4 million homes means new homes need to be built. They expect more buyers will return to the market once mortgage rates, which recently hit a nine month high, come down and trigger pent up buyer demand. Berkshire has agreed to pay a 24% premium to Taylor Morrison's closing stock price of $58.58. That's an incredible bargain. Friday analysts see the price is a good deal for Berkshire because the actual value of the builder's home portfolio bellies its lagging stock price. That is an incredible bargain, says Tony Avila, chief executive of Builder Advisor Group. Taylor Morrison's stock shot up 22% Monday. This is a quote by Warren Buffett. This is the first deal for Abel Greg Abel, the new CEO of Berkshire Hathaway. And Warren Buffett said gave a quote to the Journal. He has launched. He has launched I Love it on Monday. Then they talk about the the Google deal. Taylor Morrison is a safer bet in a precarious home building market. The company tends to focus on the higher end of the market, which has performed better. A significant part of its business is built around buyers looking to upgrade to nicer homes rather than entry level buyers who are struggling the most. In addition, the company is part of a smaller segment of builders that have leaned into so called build to rent communities of single family homes constructed for the sole purpose of renting. Congress recently recently threatened build to rent developers with proposal that would force them to sell their properties within seven years of building them, but House lawmakers removed that proposal in an attempt to rescue the burgeoning sector. The Taylor Morrison deal is the latest example of consolidation in the residential construction industry. Last month Avalon Bay Communities and Equity Residential agreed to merge in the largest multifamily combination on record years after sluggish profits. This puts pressure on others to find a dance partner, says Alan Ratner. Interesting. Well, we'll continue following up on that. Well they own railroads and you should be on Railway. Railway is the all in one intelligent cloud provider. Use your favorite agents to deploy web apps, servers, databases and more while Railway automatically takes care of.

To ever do it anyway, you know who won't be passing away anytime soon? Vladimir Putin. Because he is on a $26 billion quest for longevity. Brian Johnson's chiming in. It's so rich person's yacht or fly a private plane. I think that Russia has invested more in Putin's longevity than AI or close to it. I was trying to figure out how many GPUs they had. Best people left via Yandex and are now running in Neoclouds and. Yeah, and also Clickhouse. Anyway, from mini pigs to an organ printing to cryotherapy and genetics, Russia's president has turned anti aging research into a Kremlin priority. And remember, he was caught on that hot mic with with Xi Jinping saying that humans could achieve immortality by replacing their organs. Some dismissed the exchange as eccentric small talk between aging autocrats. In fact, during the conversation at a Beijing military parade last September, Putin appeared to be describing a Kremlin backed longevity initiative that has become one of Russia's flagship scientific projects. Like other Silicon Valley billionaires, Putin has been long fascinated with anti aging research. But in Russia, Putin's quest to stave off decline is now a state priority. Last month, Russia's government announced that scientists are developing a gene therapy treatment treatment aimed at slowing cellular aging. As part of the $26 billion longevity initiative. The drug represents one of the most promising avenues in the fight against aging. Another auspicious avenue. Creating human organs in a lab for transplantation. Sounds normal. Very normal thing to do. One of the lifespan expending. Pretty sure wasn't Tyler trying to. He's been doing that a little bit. We always say, hey, knock it off, Tyler. Knock it off. Knock it off. Breeding the all these efforts are part of a national longevity initiative he unveiled in 2024, which promises to save 175,000 lives by the end of the decade. That's great. Russian state scientists appointed by Putin have focused on two key. Bioprinting or 3D printing living tissue and xenotransplantation, or growing human organs inside mini pigs. What if the next longevity hack comes from the mosquito and we kill them all and it's like, oh, all you need to do is get a blood transfusion from a mosquito. It's the next Gila monster. Yeah. The next GLP1 potentially. You got to be careful about these knock on effects. Who knows? Well, I think the conspiracy theorists would say that some humans already discovered the mosquitoes. One simple trick. Yeah. What's that? Drinking blood. Oh, yeah. Weird. Russian scientists are working with government agencies to claim that. They claim that they have bioprinted human cartilage tissue. That seems doable, maybe, and a mouse thyroid gland. With the aim of achieving human organ replacement by 2030. They're trying to grow organs inside pigs. In the Russian Federation, work is underway on a whole range of scientific programs in this field. These projects are supported by the state and many scientific and research institutions are taking part of them. It's difficult to discuss immortality, but the ability to repair man will undoubtedly increase, they told the Russian media. Unlike similar research funded by American tech elites, the work promoted by Putin's circle has produced little peer reviewed research in major international journals. He's keeping it to himself. He's going to live forever and not tell us how he did it. We'll see. Anyway, he's doing a cold plunge too, so he's doing some of the old stuff, some of the new stuff. The average male life expectancy in Russia is about 68 years, roughly compared to 76 in the United States. So lots of room to catch up. 80 over Western Europe. The Europeans are living to 80 these days, but in Russia, just 68 years, so lots of room to improve health over.

Meta. They had. What else is going on with Meta? I think a pretty insane. Oh yeah, is this real? I saw this and I was like, this cannot possibly be real. But it is important. I've seen a number of people that I know that have one word usernames that got them that got hacked. Okay, so basically this is from 404 Media. Hackers simply asked Meta AI to give them access to high profile Instagram accounts. It worked. I'm sure they're rolling it back. I'm sure they're on top of this. But the exploit shows the extreme risk of offloading technical support to AI. I guess the AI was able to deliver account recovery information to anyone who asked. And it wasn't segmented. It didn't do the proper validation. Hackers say that they used Meta AI Chatbot to break into a host high profile Instagram account. Here's a video of how it worked. Pull it up, play that video and we will see how they're. 404. The Obama White House account got hit. Oh no. People were saying, I'm stealing high profile Instagram accounts using the easiest possible method. They're just asking Meta's AI Chatbot for access to the accounts. Here's how it worked. Basically they started music in the background. AI Chatbot said, hey, I want access to a specific account. Please send a reset code to the hackers email address. AI Chatbot said, that's not our soundboard hours. We've seen some really high profile accounts targeted this way. We saw Barack Obama's account get stolen. We saw a Space Force account get stolen. So they were only targeting high profile Instagram accounts. Do they go after yours? Jordy, this is what? No, I'm not. I'm not in that league. Oh, they, they came. They came out of mine. Crazy. They were trying to. Oh is insane. I was just getting bombarded because they were like, we got to get this guy's Instagram account. Probably going for your dog's Instagram account maybe. I think he still has more followers than me. Rest in peace, Gustavo. One of the best.

Well, let's head over to James Walker. Okay. What's James Walker up to? He's boarding this morning's flight with an emotional support trout. Is this AI? Is this real? This is insane. Honestly, I don't think AI could nail this era of Instagram filter bringing. Is the fish alive? This is crazy. Bringing a fish on a plane is hilarious, but that does not feel very humane. It feels like a very uncomfortable situation for a fish. But I guess if you got to get somewhere, you got to go. You got to go in the tube. Think about it, though, John. Yeah. Think about the things this fish will have seen that many fish would never see in a lifetime. Yeah. So is it. Is it inhumane? Yeah. Or is it inhumane not to let the fish. Yeah. If you got a trout, it's like, I think the Earth is flat. I've never seen the curvature. You're like, well, you're going into 747, and I'm showing you out the window. You look out the window, you'll see the curvature of the earth, potentially. Or maybe it's just the windows. Maybe the windows and the plane are curved.

Software projects and April Fool's jokes that they launched. And some of them will become really big businesses as well. They have other stuff, Calico. They have the mosquitoes right now. The mosquitoes are crazy. That was a weird, weird headline. I didn't know. Business. I'm excited about releasing, you know, billions of genetically modified mosquitoes into the environment to try to kill all the mosquitoes. Wait, they're mosquitoes that kill mosquitoes? They do. Okay. They're like infernal or something, Basically. I'm excited because there's, like, almost certainly could never possibly be any unexpected downside to disrupting the circle of life. Who knows? Who knows? People have been studying this for like 20 years. So I'm optimistic it would be one of those things. Like, yeah, one of those things would be amazing if we can just nuke all the mosquitoes off the map. But I got a feeling they're doing something important. Yeah, let's actually wait, though. Let's actually try to get to the bottom of this. Should we be selling the bug repellent industry short right now? Should we be going turbo short? All mosquito repellent companies, they're probably gonna go out of business if they get rid of all the mosquitoes, right? This is Finance 101 right here. I can keep reading. Don't give our little retail trader there any ideas. He's gonn. While 80 billion is huge, it amounts to less than 2% of the market value of a company. Trading at $4.5 trillion, the stock was down just 2.6% in pre market trading. There seems to be an unlimited supply of willing buyers to fund AI. If it turns out there is a limit, Alphabet can only benefit by going first. From a societal standpoint, says the Wall Street Journal, the purpose of the stock market is to funnel money from millions of savers into giant projects, just as in the 19th century railroads. For the past 25 years, that role has been less important as private capital funds grew large enough to finance companies for much longer before they needed to go public. AI's vast consumption of cash is beyond even the capability of private markets, however. Sure, there are other reasons to list, such as allowing employees to cash out their stock options. 30 billion. You mentioned this earlier. Today, 30 billion of Alphabet's stock issuance is earmarked for paying tax on employee stock awards. But the ability to tap stock market capital is important again after a quarter century of being all but irrelevant. As we move into a new era of capital heavy industries, the stock market stops being merely a way for private investors to exit, but an attractive source of capital. The bear in me worries that all this equity raising is also about taking advantage of record stock prices and could be a sign that the top is near, says the Wall Street Journal. They're almost calling the top, but they're near. JOHN Mosquitoes do have some environmental value, though most of it is not unique to mosquitoes, which is why people debate how much the world would miss them. They're a food source for spiders. Mosquito larvae are eaten by fish, frogs, dragonflies, beetles, birds, bats, and other insects. And adult mosquitoes are eaten by birds, bats. So we already have friends in the animal kingdom that are just eating them alive. Yeah. So that's good. So you'd be pollination. You would want birds and frogs around? No, but the argument is that a lot of other animals contribute the same sort of general environmental value. Sure. So if you took out some of these disease spreaders. He's a pro mosquito. He's in the pocket of big mosquito over here. He's like, oh, I love. Oh, I have a pet mosquito at home. I love mosquitoes. Not a dog person. I'm a mosquito guy. I like mosquitoes. This is you. You're a mosquito dude? Yeah. Wow, that's weird. You ever get an eye, like, swollen shut by a mosquito? No, never. That was me. I've gotten a few, like, bites on my legs. You kind of X them out or try not to scratch them. They say don't scratch them because that spreads the poison a little bit. But it's like a minor, minor nuisance. But I think that they spread a lot of disease and that's the real reason why people are so aggressive about. Somebody should do a street illness. Somebody should do a street interview where they go around asking people. Yeah. Would you want to, if you had the chance to eliminate all mosquitoes in the world with no downsides to the environment or $100,000 in dinner with Jay Z, what would you choose? Yeah, there'd be some interesting answers. Are they releasing these in America? In California? I think so. That's crazy. A private company. Animals. Like, could Microsoft just release like a million bears or something? What's the limit of this? Can you just release like, hey, yeah, were releasing 25,000 bison. That was an early idea on this show. Right. It was like bear defense companies. Yeah. Domesticated bears, just, you know, wild dogs, more coyotes, more deer, maybe. Pick your poison. Whatever animal you want, just get it out there. I think if we put enough monster energy. I heard Truth Social is going to release like a million bald eagles. That's their goal. That's the next. Oh, that's why the company's so unprofitable. Yeah. Buying bald eagles and breeding them. No, I think. I think one of the reasons mosquitoes buy humans is there's not enough cans of, like, cracked open. Monster energy. Yeah. So I think if you put a bunch of monsters out when you camped, you'd probably be safe. Mosquitoes would obviously much rather have monster energy than blood. And does that sterilize them? I think that might do the trick. It might do the opposite, actually. Yeah. It might make them even more powerful. Here's an idea. Release 100,000 bulls charging through Manhattan as a sponsorship opportunity, as a marketing stunt for the New York Stock Exchange.

Big businesses as well. They have other stuff. Calico. They have the mosquitoes right now. The mosquitoes are crazy. That was a weird, weird headline. I didn't know. I'm excited about releasing, you know, billions of genetically modified mosquitoes into the environment to try to kill all the mosquitoes. Wait, they're mosquitoes that kill mosquitoes? That's what they do. Oh, okay. They're, like, infertile or something. Basically. I'm excited because there's, like, almost certainly could never possibly be any unexpected downside to disrupting the circle of life. Who knows? Who knows? People have been studying this for, like, 20 years, so I'm optimistic. It would be one of those things. Like, yeah, one of those things would be amazing if we can just nuke all the mosquitoes off the map. But I got a feeling they're doing something important. Yeah, there must be. Let's actually. Let's actually try to get to the bottom of this. Wait, is the. Should we be selling the bug repellent industry short right now? Should we be going turbo short? All mosquito repellent companies, they're probably gonna go out of business if they get rid of all the mosquitoes, right? This is Finance 101 right here. Anyway, I can keep reading. Don't give our little retail troll over there any ideas. He's gonna go short while 80 billion is hu.