NEWSMAX

What do you want to protect? What should you protect? What should you not protect? Because, quite frankly, you want that to be out there so you can get more data. All those things are arbited by taste. And then you have to have the credibility of having taste. That's a real problem for a lot of these places because they don't have, they're popular with their friends. They don't, they really don't understand how unpopular they are in enterprise. Like, they think it's like, oh, yeah, it's like the way I think I have a problem with, like, professors at Columbia. It's like, no, it's a real problem. Like, they think I'm Satan. And, you know, it's like, I, I, I think, you know, we grew up in the same community. Let's talk about Heidegger. They're like, they don't want to talk about Heidegger. So it's like, it's like, yeah, and so that's just a, it's a weird thing. It's going to be a super. The one thing I would say for anyone listening, if you're listening to this and you're chillaxing and not active,

Yeah. We should talk about the new Audi, the Nuvolari. Is this real? Motor one. This seems real. It's real. It's big deal. It's the brand's first supercar since the R8. Twin turbocharged 4 liter V8 hybrid. 217 mile per hour top speed. That is 10% faster than a Cayenne Turbo GT. What is the Cayenne Turbo GT market doing right now? Is it tanking? Depreciation must be just through the roof on this news because you have a car that's 10% faster and so everyone is going to be rotating out. I think they did it. I think the new Velari, it's a really cool design. It's a really cool design. Feels like somewhat cybertruck, cyberpunky, futuristic. I don't know, it just checks the box for like the next supercar for me and in a way that the Ben says it can't touch the R8. Oh, can't touch the R8. Okay. Okay. Well, it goes zero to 60 in 2.6 seconds. Almost 1,000 horsepower. Let me tell you about Cisco. Critical infrastructure for the AI.

Minute. He's coming in to speak with us at AIPCON here. We're gonna bring him in. Just a minute while we wait. Austin based podcaster Joe Rogan reportedly being considered for 60 minutes. 60 minutes. They're gonna have to call it 200 minutes because he records long podcasts. In 60 minutes, hundreds. It'll just be called Barry, if you're listening, put us in, put us in the ring. We're ready to go. You need tech correspondent, business correspondent, someone who can just chop it up for 60 minutes. We do 60 minutes three times a day. We're ready to go. This is going to be light work for us. Barry. I'm ready. I'm ready. You could do 60 minutes right now. You could do 60 minutes tomorrow you could do 60 minutes. You could do an extra 60 minutes easily. When you're putting up, we're putting up a thousand minutes a week. It's no problem. We did consider that at one point early on we thought, should we do basically a morning show, take a two hour break and come back, do another show? Late night show, Late night show, maybe. Anyway, still, we have Alex Garp here with us. Welcome to the show. Welcome.

Own the data platform that powers it. So moment of silence. Moment of silence. Why is that? For the end of an era, I guess. They have been very focused for decades. The last tier one, there was a pure venture capital. What did they get called again? Internet Boys or something? Soft Boys. There was some book about them that was very funny. But Eboys. Eboys is a hit piece of a book title. No, it's a fantastic book, but the subtitle makes up for it. And it's a fantastic book and it's a very interesting story where they actually let a journalist come in and see how they. The true story of the six Tall men. Yeah, he clearly wrote the subtitle and was like, I gotta take the edge off of this. It's too lazy. I gotta. I gotta take it down a notch. And so he, he, he threw the E Boys in there. But anyways, big moves from Benchmark. Clark has a scoop in the Journal. Benchmark has raised 2 billion, two new funds and most notably their first ever dedicated growth fund. Did they hire anyone who has experience growth investing who could possibly do growth investing there? Someone who's maybe like at Bond Capital and then Founders Fund, then maybe Kleiner, like someone with that pedigree. Yeah, somebody with that kind of background would be fantastic. Pretty good for growth investing. Now that you say that, though, yeah. Ev Randall. Ev Randall, that's right. They did pick up Ev Randall. They did pick him up. They're almost thinking two steps ahead there. Are they building their fund strategy now? Their entire platform strategy around EV Randall? Potentially. Potentially. Anyway,

Totally modern. And it, like, I, like, formed this connection with it. And I was like, we have had so many conversations about you. And I just thought that, like, this is potentially a future where it's like a data center, a coffee shop. You know, like, people might want their data to be hosted in a place that's, like, aligned with their views. Sure, sure. Yeah. You know, because it's like, I can trust, Like, I don't want this in my house, but I can, like, trust this, like, cool company, local company, that my data lives there because I don't need it distributed across the globe. It's like, yeah, I'm here. No, that makes sense. That's interesting. Country intelligence. Yeah. Yeah, we talked about this. This is the future. I love it. Anyways, thank you so much for coming on the show. Great to meet you. Thanks for doing this work. Have a great rest of your day. Thank you. We'll talk to you soon. We will wrap up the show. Yeah. Thank you for tuning in with us today, folks. We will be back on Monday. Yes. And we look forward to it. Some business to do tomorrow, but see you Monday. Leave us five stars on Apple Podcasts and Spotify. Sign up for the newsletter tvpn.com and have a wonderful weekend. See you. We love you. Goodbye. Goodbye.

Yeah. Because it just, it just. Because before it was like, okay, yeah, successful company, but like, no one really knows where the valuation's going now. It's like my uncle just told me that he made a bunch of money and so I got to pay attention that. But also, they had been banging the FDE drum or the. And getting the consulting, but people had earplugs in to the banging of the drum and the earplugs came out. Yeah. But when you're. When they were a 10 to 20 billion dollars company, a lot of people could still convince themselves that they were right. It's just a consulting business. Yeah, yeah, yeah, exactly. But. And that gets harder. Harder to ignore. We covered this very briefly, but yeah. Very excited for Joe Rogan to be hosting his. You know, it's rumored. This is a rumored leak. It is not confirmed by any means yet, but. But I like the sound of it. It would be. It's a very different direction. This was a good post. I wanted to bring it up. Buco Capital says it's really incredible, the absolute AI garbage in all caps that people are comfortable sending to their coworkers and bosses. There's a good chance productivity will actually decrease as AI adoption increases because everyone is busy waiting through AI slop. I don't think. I don't think it'll actually. I don't think it'll actually get there. But I have had moments over the last month where if somebody has sent me, you know, a deck for their company or materials, and I can tell that 90% of the work that went into it was on prompting. Yeah. And I have a very, like, visceral reaction toward it, especially for, like, early stage companies where ideas and the way in which you go about doing things matter so much that it's almost like, you know, painting this initial vision and things like your go to market product differentiation, why you'll actually win. Like use AI to make your team slide. That's great. Right. Just taking like a set of facts and making it look good. Right. You're giving somebody a bio. Something like that. But I just remember I got this deck. I was clicking through it and I very respectfully said, like, go and like, do this yourself. Because just because you've made something that. That looks like a deck. Yeah. But you didn't do the sort of like, fundamental work to actually present this. In a way. If you looked at each slide individually. Yeah. Your eyes kind of glaze over. Yeah. And you just sort of like lose focus. Stopping. Yeah. It's like it would have been More. It would have been more compelling to actually just have a bulleted list of like, problem. I mean, a lot of times you can just send me the prompt because I can instantiate it in my head. I can imagine the rest of the paragraphs. I have the context window preloaded for myself. Yeah, we should talk about the new Audi, the Nuvolari. Is this real? Motor one. This seems real. It's real. It's a big deal. It's the brand's first supercar since the R8. Twin turbocharged 4 liter V8 hybrid. 217 mile per hour top speed. That is 10% faster than a Cayenne Turbo GT. What is the Cayenne Turbo GT market doing right now? Is it tanking? Depreciation must be just through the roof on this news because you have a car that's 10% faster. And so everyone is going to be rotating out, I think the new Villari. It's a really cool design. It's a really cool design. Feels like somewhat cybertruck, cyberpunky, futuristic. I don't know. It just checks the box for like the next super supercar for me. And in a way that the Ben says it can't touch the R8. Oh, can't touch the R8. Okay. Okay. Well, it goes 0 to 60 in 2.6 seconds. Almost a thousand horsepower. Let me tell you about Cisco. Critical infrastructure for the AI era unlocks seamless real time experiences and new value with Cisco. And our next guest, Sam Berry is here from the usda. Welcome to the show. How are you doing? Very good. Good to meet you. Great to meet you. So much for coming on down. Let's throw this on. And just like that. Cool. On the left side. So good. Introduce yourself. A loud. Tell us about yourself. All right. Yeah. My name is Sam Berry. I am proud to be working at the usda. What do you do there right now? Do you know about nominative determinism? No. It's the idea that, you know, a person's name could possibly influence or, or. But, but Barry and working at the Department of Agriculture is like pretty perfect. No, it's incredible actually. My. The Berries came over here from France in like 1640. So we've been here for a long time. That's crazy. And it was all farmers. Yeah, There you go. Yeah. All farmers until my grandpa. Then he became a materials engineer. Actually worked on jet engines. Okay. And so then his sons became engineers. My dad became an engineer and I was an engineer. So we're kind of trying to bring the two together. Now you're going back to the usda. Yeah. What is the shape of the usda? What is the shape of the organization headquarters? Do you go in the office? Is this us, you think? Just America, international footprint? Do you travel for work? What's it like working there? Well, actually, it'd be kind of interesting to ask you what you think. What are the things that you think USDA does? They grade the milk in the States. That's what I think about it. So I imagine that at some point farmers send the cows to you and you kind of inspect them and say this is a good cow. Is that what happens? There's inspectors, there's a whole area that does that. There's like a series of certifications. But what else is happening? So all kinds of stuff. Do you know that? Like food stamps. Yeah. SNAP is inside of USDA.

You're surrounded by gentlemen. Hold your position. Strike 1. Strike 2, Activate. Go, go. The retriever mode. Market clearing order inbound. 5. I see multiple journalists on the horizon. And mine. Founder, You're watching TVPN. Today is Thursday, June 4, 2026. We are live from Palantir AIPCON with the Temple of technology is back. Fortress and finance. We will return to it. But it is also a state of mind. That's right. We are also sponsored by Ramp. Time is money save. Both easy use, corporate cards, bill pay accounting and a whole lot more all in one place. Big news from Ramp today. Massive fundraise. We're going to cover it in a little bit, but first you hear that, got to talk. Oh, is it still going? I like it. The Ramp song's back. This was early days. We really talked about Ramp so much. Turned it into a song. Anyway, the topic of conversation in DC has. It's still in AI world, but instead of talking about approving models before they're released, today it's about the Bio threat. Brandon Gorell wrote in the TPP newsletter today, the great houses of AI have united behind the Bio threat. There's actually a lot more to that because it was a big long list of signatories from AI, but also from the bio world and biotech and even startups. We've seen former guests of the show sign on. I'm excited to bring some of those folks back on the show in the coming weeks and hear more about this because I have this belief that as AI advanced, we got cyber because it was such a tight feedback loop, such a tight verifiable reward. Reinforcement learning works really well in that context. Bio has some similar characteristics and it was a very tangible Y2K style moment. Exactly where there was, it was, let's just say, powerful business strategy. Yeah. Is it? Yeah, it was like, is it over? You start thinking about the consequences of this and you don't need to get to AGI super intelligence God. You can just have a really powerful tool that creates a new problem and that creates full employment for Nikesh Arora over at Palo Alto Networks, who we had a chance to talk to yesterday, and he's been very fortunate in implementing the solutions to the cybersecurity threats posed by new AI systems. Some of the new AI capabilities, they're rolling out, but Bio might be next. And so it's exciting to see that the great houses of AI are uniting behind the Bio threat. So let's take you through this. First, I'm gonna tell you about console.com Console builds AI agents that automate 70% of it HR and finance support, giving employees instant resolution for access requests and password resets. So in 1981, a group of researchers published the primary structure of the polio virus genome in the journal Nature. So they're basically open sourcing the sequence for making polio, which just a few years earlier polio I think was on the decline by 1981, but a very, very problematic virus. It's an RNA virus, meaning that its nucleobases or building blocks are a C, G, U. If you're familiar with rna, adenosine, cytosine, guanine and uracil, put more plainly. Thanks Brandon Gorell. He says when the researchers published the primary structure of the polio virus, they gave the world the literal sequence of polio virus building blocks in order from start to finish. By the mid 20th century, before Mass vaccination, polio was paralyzing and killing more than half a million people per year worldwide. So you have this pretty deadly virus killing more than half a million people per year worldwide and you have just open sourced it. What happens? So in 2002, researchers synthesized infectious polio virus from its publicly available sequence data. So they didn't actually need any of the polio virus RNA to start. They didn't need it on hand, they didn't need to. It's not like they took a little sample and they just cloned it up and made it bigger. They, they just took the data and they made the actual virus. So this is the, this is the shape of the threat. If there's a new, if there's a new virus or an existing virus or forgotten about virus and you have the code to it, you can potentially print that RNA and then have the virus in your hands. Even if you don't have a sample, you weren't able to collect a sample. So instead of These researchers, in 2002, they were able to take the published sequence, chemically synthesize short DNA fragments, assemble them into a full length DNA copy of the poliovirus genome, and then use the DNA to make the viral RNA to fully recover the infectious virus. So in 2005, researchers used these same technologies to reconstruct the Spanish flu, a virus in 1918 that killed 675,000Americans and had a 2 to 3% mortality rate among those infected. Very, very dangerous stuff. So basically these two reconstructed viruse showed that having a physical virus on hand was no longer necessary as source material to create viruses. All you needed was the blueprints as Long as you have the code, literally just like text in a text file, a bunch of atgu, you can go and make this as long as you have the equipment on hand. But that is getting democratized as well. And that's what this AI letter is all about. So that's the situation that we're still in today. Except now that we have AI, there are easier ways to potentially reconstruct DNA sequences that could create new viruses. So yesterday, Demis Hassabis, Sam Altman, Dario Amade, Alex Wang and dozens of other high profile leaders across AI tech policy, nucleic acid synthesis and biotech signed an open letter called in support of mandatory nucleic acid synthesis screening and record keeping. You might have seen it on the timeline. And at first glance, Brandon here assumed, and I assume the same thing assumed it was another press release from a Frontier lab claiming it had just discovered discovered new capabilities in one of its internal models that would ultimately lead to catastrophe. A lot of this, like doom, fear based marketing has been happening. So that was sort of the natural reaction. And that's what Brandon, some people's reaction would be. Are we not doing record keeping here already? That's a great question. And Brandon actually did answer that. But it's not just a PR stunt and it's not a new capability. They're not saying that the models can just create a novel virus. You know, one shot like that that is solved, yet it's not there. But they see it as something that's coming down the pipe. And this letter is not this dangerous new capability. It's more asking the US Government to force nucleic acid synthesis companies to screen orders for sequences of concern. So, hey, somebody just ordered this. Looks a lot like a virus. Like, what are we doing here? You said that you were trying to treat cancer, or you said that you were trying to make a new peptide and all of a sudden you're asking for polio virus or something that looks like polio virus. Let's dig into this. That's where they're going with that. And so they also need to verify the legit, the legitimacy of the customer and to keep a record of what they're sending and to whom. That's a crazy one that I'm sure you're like, wait, where? They weren't keeping records. They were a little bit. He gets into this. So he says the reason the letter is coming out now is that the threat of nucleic acid synthesis sequence sequencing getting into the wrong hands has been enhanced by AI. So anyone with an AI tool in the future could in theory, if the models don't have safeguards on them, could synthesis, could create a sequence that then they go to a nucleic acid sequence company, get printed, send it to them, mix it up, boom, they got a virus. Not good. So most of the global nucleic acid synthesis industry has already signed up to do some of this. They did. They started this in 2009 with what's called the International Gene Synthesis consortium. And roughly 80% of commercial synthesis capacity worldwide is on, is on board. But membership Agreed. So 20% still just hanging out now. We're good. 80% of nuclear weapons are safely stored. Don't ask about the other 20%. That's kind of what this letter is getting at because 80%, it was a good first effort. 2009, it's been 16, 17 years we haven't had. Yeah, but there's a new reason to go further. Let's get that last 20%, that's what they're asking for. Membership is not a strong guarantee that they're actually screening or keeping records of their customers because it's voluntary. The 80% number is also self reported, for example, and a bunch of other factors contribute to the relative flimsiness of the agreement. So it's not, you can opt into this program by just saying that you're opting into it, but then even the reporting once you're opted in is voluntary. So I think the way this works is the International Gene Synthesis Consortium is probably a non profit ngo, you know, non governmental organization and every, all the companies they volunteer, 80% of commercial synthesis volume has opted into this. And then this organization, the International Gene Synthesis Consortium, they say, hey, we've looked at the market and we're covering about 80% has opted into this. We're on board with 80% and, and the government isn't coming in and checking the records. They're not actually saying, okay, well we, we have a different number because we're the government and you have your. This number. Let's verify this number. It's self reported by that organization, but there's no reason not to trust that organization necessarily. So what else? Bunch of other factors contribute to the relative flimsiness of this agreement. HHS also has guidance in place around the issue, but again, it's voluntary. Meaning that the possibility of bad actors getting their hands on dangerous nucleic acid sequences, at least from American companies, still cannot be ruled out. Overall, it's good to see industry leaders signing this letter and doubly refreshing that the letter is not yet another warning of Apocalyptic AI doom, which I think the public has unfortunately come to expect from announcements like this. Hopefully the relevant legislators are paying attention and can make this happen in short order. So I thought that was a good, a good breakdown and I agree with a lot of that. Andrew Curran also has some deep dive on this with some more of the signatories. He shares screenshots of all of these and it really is everyone. Yeah. Y Combinator, Patrick Collison, Microsoft Interconnects AI Harvard, tons of stuff. And then over in, in the nucleic acid synthesis industry you have Twist Bioscience, Anza, Emerald Cloud Lab and Kathleen McMahon from Balthos is on here, former guest of the show. So good news but obviously just an early step. This is just an open letter to the government saying hey, we think you should, we want to support this. We think that the government should start thinking about this. The other news in the bio world. Yeah, I mean the news is just that there's incredible momentum in biotech. It feels like early stage biotech after momentum, but not like volume, not scale yet because you're looking at $3 trillion IPOs going out this year. Potentially so much news in AI microns at a trillion. Every chip stock is, you know, in the hundreds of billions, trillions. This is much smaller than smaller but, but it's notable because biotech had been left for dead in some ways. We had a biotech investor on probably 14 months ago at this point who said I don't even know. I mean just looking at the returns so far, I don't know why you would invest in this asset class. Yeah, but of course every asset class kind of go through, goes through that kind of phase and clearly there's a lot of momentum and they should be. You would expect that biotech would be similarly power law driven. Maybe not as extreme but if you pull out SpaceX OpenAI anthropic from power law, capital reversal. Yes. But I feel like the biotech community has a little bit more of like a culture of like base hits, doubles, triples where they flip companies pretty, pretty frequently in the. Yeah, we had that. Didn't we have a guy on that had sold like three companies. We didn't have billion dollar exits. Yep. And then he joined another company and sold it for 3 billion like the next day. And so, so anyways you have Isomorphic Labs spun out of DeepMind, Coinbase or not Coinbase, but Brian spun out or like founded New Limit. You have Retrobase, they just raised a new round. We're going to get Jacob on the show as well. Altos Labs. Jeff, the chad from Amazon, as this post puts it. Anthropic, obviously acquired coefficient bio as well. But Jensen and Larry Ellison at Oracle are also doing stuff. So there's a lot of activity. It's very fun and I hope we're going to be able to cover this a lot more in the near future. At what point do the. At what point does like a Pfizer or Johnson and John Johnson and Johnson start joining the press release economy of just coming. I'm not, I'm not saying it'd be a good thing, but coming, coming out and saying we believe we're, you know, right at the. Because there are partnerships all the time. That happens and they're always just like tucked a little bit deeper in the Wall Street Journal because AI is dominating and even private credit takes the front seat to the bio news. But there's a whole bunch of dealmaking going on anyway. There's other deal making going on in fintech. We're going to talk about ramps raised today, but first I'm going to tell you about Railway. Railway is the all in one intelligent cloud provider. Use your favorite agent to deploy web apps, servers, databases and more, while Railway automatically takes care of scaling, monitoring and security. So ramp, what's going on in ramp land? $44 billion valuation. Whoa. Really, really solid traction. Just, you know, every 12, 18 months, sometimes much quicker, sometimes they do two rounds in two weeks. But really solid progress. They raised $750 million at a $44 billion valuation. Last time we grew this fast, we were 1/20 of the size. So they're actually, this is the most notable thing to me. Yeah. Lots of chatter on the timeline around, you know, other fintech valuations. You compare SaaS Apocalypse. Yeah, well, yeah, you compare them to like, you know, ramp is now worth more than PayPal. Okay. PayPal has 32 billion of revenue. Yeah. But PayPal certainly has, I would say, net, you know, probably negative momentum. Yeah. Whereas ramp has incredible momentum. And this, this is the standout line. They were 1 20th the size the last time they were growing this fast. And so, yeah, just really, really, really, really impressive execution and incredible opportunity still. Yeah. So Eric took to the timeline, posted an essay about the third pillar comparing the previous eras of value creation. The two pillars, people and vendors, dating back to 600 BCE. If you're not thinking in millennia, what are you doing here? Tokens emerged as the third pillar in 2026 AD and he calls it the quadrillion token blind spot. Boil down 500 years of finance. And it's really just three questions. Who spent what? Was it worth it? What's the bill next month? I mean people get caught up in all these crazy things. I mean you see, this is like marketing, I'm sure and, and ad buying where people will do all these crazy analyses and roi roas and all this other stuff. And like, and it is always useful to zoom out and just be like, okay, we spent a bunch of money to the bank balance go up in this company. All personal and business finance. Finance at the end eventually comes down to are we making more money than we're spending? Yeah. And I think, yeah, Eric is, is right to dive super deep into like token optimization and thinking about the tools that they're building. But then at the same time, like not, not. Don't get lost in the sauce and like actually zoom out and try and understand like what is the core value that you're delivering to your customer? It is answering that question. So fantastic news over there. Let me tell you about the New York Stock Exchange. Wanna change the world? Raise capital at the New York Stock Exchange. You gotta do it. It's my number one advice for founders these days. There's some other fundraising news. SABI the Beanie BCI company is getting preempted at 35 million, at 500 million post. This is a leak from R for Rock. We'll see where it goes. This is huge for you. Why? Because you are a beanie guy. I do like beanies. You love to throw on a beanie. A beanie in the morning keeps it together. Yeah, yeah, I like a beanie. Very, very. It's interesting, I think that this format, of course I'm sure they can adapt it to other types of hats, but this format certainly maybe makes it harder to build momentum in places like California at least Southern California, Arizona. Be big amongst creative directors though. Yeah, huge, huge, huge potential. Silver Lake. Silver like every. It's not too hard to change a beanie into a hat. Cowboy hat, like that's just extra leather around it. You could wrap the beanie in the, in the cowboy hat you can wear. Here's what's interesting though. So Arfa Rock. Yeah. Usually it's pretty dialed, pretty dialed, pretty dial. It's almost like he has inside information. It's almost like he somehow. Yeah, but I mean we've talked about the game theory of like do. Does he work at a real like tier one venture capital firm? That's like, what's the benefit of leaking everything? Is he a lawyer that's seeing all the docs. I mean, zero benefit for a lawyer, right? Client. Yeah. The rush of getting likes on the timeline is pretty universal. Lawyers are just like, I need a banger out of fund for sure. Yeah. And I don't know anything else, but he's always taken the view that it can be helpful to the founder to build because a bunch of people are going to see this, that this didn't sort of land in their deal flow or land on their desk and they're going to reach out. So it does create momentum, but can certainly be annoying for teams as well. This was notable, though. So, 200 million of LOI from B2B customers and so very curious what the enterprise play is here. I don't know, but we can work on getting Rahul. Does that mean like, like through hospital networks or through, like the healthcare system? Or is it like Mark Zuckerberg wants to go further? He wants to track the brainwaves of the employees, not just we're going to track your screen or else I'm chugging brain. I mean, it could go either way because you imagine like Neuralink has had a bunch of traction and bunch of amazing. I saw Nolan, the first patient, P0 on Rogan, talking about playing COD with the Neuralink. Amazing. And you can imagine that at a certain point, like some sort of partnership, they have multiple hat form factors. There we go. Hats coming. We're good. I was getting really hung up on the beanie and there's so many different enterprise or B2B contexts. You're in a warehouse in Dallas, Texas, in the summer. Yeah. You don't know. Maybe this $200 LOI is from REI or Patagonia. You don't know who makes beanies. What's the Carhartt? Carhartt makes a great beanie. There we go. You don't know any of this stuff. You're completely out to lunch. I went through, I think I. The Beanie Economy. Beanie Economy. Anyway, Beanie market map. Work on it. Let me tell you about public.com. public.com investing for those who take it seriously. Stocks, options, bonds, crypto, treasuries and more, all with great customer service. They just launched a feature today that allows you to connect your favorite chat app to public. Yes, more important than ever, because with Public, you're going to be able to go and create the S&P499. If you don't like SpaceX or the S&P1. If you love SpaceX. You can express your opinion about SpaceX however you want. Can you Please help me build an index for one company. Yes, index for one company or index for everything but one company. SpaceX is very divisive. People are extremely optimistic in certain camps. Extremely pessimistic. Goldman, Goldman. Very optimistic. What they say Goldman expects SpaceX's AI revenue to surge 100 times by 2030. Huge, big, big number. I looked at this title and I was thinking like okay, what's Grox actual revenue today? If you take out X, what is their AI revenue today? Is it just Grok subscriptions plus Grok Grok tokens? Do you include X subscriptions? Do you include cloud vendor and NEO cloud contracts? There's a bunch of different ways to measure it. The smaller the number, the easier it is to 100x. But we have seen other AI companies 100x revenues over two years, over three years, four years. Like the 100x has become. It's not a one of one scenario. Yeah, it's happened multiple times and so we have seen these charts many times and if, if they execute well. Yeah, this is entirely possible. It is, it is extremely. Other, other notable data points from the road show. Yeah, they the forecast anticipate SpaceX making about 360 billion of capital expenditures through 2028. Jensen somewhere fist pumping. Very excited about that number. Be a new hyperscaler and anyways very should be unsurprising, but very aggressive. Yeah. And the enterprise story is also live too. The new Nvidia foundation model is also live. We'll have to go check it out and look at the model card soon, see how it's benchmarking. But we got to move on to benchmark because there's new news in the benchmark world. First I'm going to tell you about MongoDB. What's the only thing faster than the AI market? Your business on MongoDB don't just build AI own the data platform that powers it. So moment of silence. Moment of silence. Why is that Moment of the end of an era I guess they have been very focused. The last tier one there was a pure venture capital. What did they get called again? Internet Boys or something? Oh, Soft Boys. There's some book about them that was very funny but E Boys is a hit piece of a book title. That was a fantastic book but the subtitle Makes up makes up for it and it's a fantastic book and it's a very interesting story where they actually let a journalist come in and see how they. E Boys. The True Story of the Six Tall Men. Yeah, clearly wrote the subtitle and Was like, I gotta take this edge off of this. It's too glazy. I gotta, I gotta take it down a notch. And so he, he, he threw the E Boys in there. But anyways, big moves from Benchmark. Clark has a scoop in the Journal. Benchmark has raised 2 billion across two new funds. Wow. And most notably their first ever dedicated growth fund. Hmm. Did they hire anyone who has experience growth investing who could possibly do growth investing there? Someone who's maybe like a bond capital and then founders fund, then maybe Kleiner, like someone with that pedigree, Somebody with that kind of background would be fantastic. Pretty good for growth investing. Now that you say that though, yeah. Ev Randall. Ev Randall, that's right. They did pick up. They did pick him up. They're almost thinking two steps ahead there. Are they building their fund strategy now? Their entire platform strategy around Ev Randall? Potentially. Potentially. Anyway, let me tell you about Shopify. Shopify is the commerce platform that grows with your business, lets you sell in seconds online, in store, on mobile, on social, on marketplaces. And now with AI agents. And we are very fortunate to be joined by Alex Karp. In just a minute, he's coming in to speak with us at aipcon here. We're going to bring him in just a minute. While we wait, Austin based podcaster Joe Rogan reportedly being considered for 60 minutes. 60 minutes. They're going to have to call it 200 minutes, but because he records long podcasts in 60 minutes hundreds, it'll just be called Barry, if you're listening, put us in, put us in the ring. We're ready to go. You need tech correspondent, business correspondent, someone who can just chop it up for 60 minutes. We do 60 minutes three times a day. We're ready to go. This is going to be light work for us, Barry. I'm ready. I'm ready. You could do 60 minutes right now. You could do 60 minutes tomorrow you could do 60 minutes. You could do an extra 60 minutes easily. When you're putting up. We're putting up 1,000 minutes a week. It's no problem. We did consider that at one point early on we should. We do basically a morning show. Oh yeah. Take a two hour break and come back, do another show. Late night show, late night show, maybe. Anyway, still, we have Alex Garp here with us. Welcome to the show. Welcome back. Thank you so much for taking the time. We're gonna have you grab these headset, these headphones, right? Not these. You can sit. No, get close, get close. Get in here. We liked it last time the three of us were sitting here.

Argument so we could talk about where. Yeah, there's a lot here. Let's break it up. Let's start with the token maxing thing. Let's start with what's real. How are you actually thinking about deploying AI? First of all, what is Palantir's philosophy around token consumption? Well, okay, we have a product that will allow you to bail. I mean, internally it's called something, but externally. But really we call it the demascipatory, like get off masturbation thing. Internally. Sure. It's like people are just like print, like sitting there all day, kind of like a porn addiction. And enterprises are like, okay, we knew this. We believe this will create value. Yeah. But we cannot have people just like some people checking the weather with it. Just like, and just rearranging deck chairs on their personal Titanic. Literally, like porn. Like, people are like full on. It feels so. Yeah. Tool shaped objects. Yeah, tool shaped objects. You're looking at more than you want. You hope no one notices. You're kind of. Before it feels productive to have every email classified, here's what it comes down to. Like, business problems can never be. I mean, sometimes they can be solved purely with money and just spending more, but very often, actually I think it's the opposite. So just to give you a weird analog. No, and I was going to say very, very often it's more the opposite where it's about figuring out the right way to do something and then you can use capital to fuel that process. But let me give you a thing that's too generous for you guys, okay? It's taste plus money. And there is no like AI. Like if you look at like, pick any issue you want to talk about token maxing. What's going on with deploy codes? Are other people going to build ontologies? Why does our political class not understand AI? Especially in Europe, it's like, yes, because all these things can be scaled.

Like, masturbation at their. This cost them money. They. They're like. And honestly, then you have something we're not allowed to talk about in this country. Likability, like a palantir. We have. I think we have like, 50, 100 million global bands. We have like 5 million people that wake up in the morning literally calling me Satan. I didn't know I had that kind of warm hand. But, you know, it's like, that's what they believe. Yeah. And like. And they really believe it. Okay. What people are not allowed to really address is like, we have fans and enemies. Yeah. Yeah. These people. Polarizing. Yeah, we're polarizing. Which means both sides. Yep. These people have one side. Yep. They're just. It is. So it's like you. And it's like. It's a really. Social media companies, too have the same problem. Yeah. Everyone uses them, but no one likes them. Yeah. But. But then they also live in a circle, and that circle is printing money. Yep. So it's like, you know, when you look in the mirror and you just printed a lot of money, you look pretty fresh. Is part of it that some element of the technology. Let's just say LLMs is so magical that the companies involved that the companies that are.

So yeah, tool shaped objects. Tool shaped objects. You're looking at more than you want. You hope no one notices. Kind of before dinner. It feels productive to have every email classified. Here's what it comes down to. Like, business problems can never be. I mean sometimes they can be solved purely with money and just spending more, but very often actually I think it's the opposite. So just to give you a weird analogy. No, and I was going to say very, very often it's more the opposite where it's about failing, figuring out the right way to do something and then you can use capital to fuel that process. But let me give you a thing that's too generous for you guys, okay? It's taste plus money and there is no like AI. Like if you look at like pick any issue you want to talk about token maxing. What's going on with deploy codes? Are other people going to build ontologies? Why does our political class not understand AI? Especially in Europe, it's like, yes, because all these things can be scaled in a very valuable but largely going to commodify way. But you can't scale the taste of like, what is the business problem you want to have to solve and need to solve at the end of the day, whether it's the Ukrainians fighting the Israelis, commercial entities, there's somebody sitting there who's like, okay, but this problem is valuable, this problem isn't. And once that value, that problem is always has that problem, almost always, but not always has attributes. So there are some problems you could solve with this. Like, I want to write a report on GDP growth in China, right? Okay, but if it's a problem that requires a knowledge store, like, I want to understand this specialized way I underwrite. We're going to have a guest here. I want to understand the specialized way I drill for oil and gas. That's both legal, ethical and reduces the cost of production. I want to change the supply chain of my industry, whether that's military or, or whether that's building boxes or whether that's cars. These things require actual, precise, ongoing processes. They are enhanced by large language models. They are not replaced by large language models. And then you get to security.

Like that's what they believe. Yeah. And like. And they really believe it. Okay. What people are not allowed to really address is like we have fans and enemies. Y. Yeah. These people. Polarizing. Yeah, we're polarizing. Which means both sides. Yep. These people have one side. Yep. They're just. It is so it's like you and it's like it's a really. Social media companies too have the same problem. Yeah. Everyone uses them, but no one likes them. Yeah, but. But then they also live in a circle. And that circle is printing money. Yep. So. So it's like, you know when you look in the mirror and you just printed a lot of money, you look pretty fresh. Is part of it that some element of the technology. Let's just say LLMs is so magical that the companies involved that the companies that are making and selling frontier intelligence can be bad at a bunch of other things and still grow. Well no, no, no. They are magical at a certain kind of thing. Allowing you to write for example, code. Now that code doesn't. Can't be used as a knowledge store. So if you look at code in like three different ways, like just using Palantir as a model, we have code that's basically infrastructure. So what are the Ukrainians using? What is the Department of War using? What do a lot of our enterprises. We call that primitives. It's basically hard coded things that. That understand the world the way do you do. It would take millions of technical hours and an understanding of all these enterprise to do it. So it's much more like how do you build a steel beam? Then you have like code that is written by FDS. Okay. So that's kind of managed. The reason why FDA's work, the secret is it's actually managed in something that we as a product. So you're writing to a code base. We're managing that, we're increasing our product. It's not just random people. Right. Then you have. Let's call it free code. That free code is. That's magical. Like you can do it very quickly. It's almost right. It doesn't have to be exact dashboards. Dashboards financial stuff, little flow probabilities, stuff where you have to one off analysis. It was magical by the way. It's magical. Not only creates and it's magical in a way. I don't know if people don't like the porn thing, but it's also addicting. It's like, you know, it's not good for you, but you know, it may lead to damage. One more Dashboard one more time. It can't hurt that much. I know my doctor says it, I shouldn't do it, but it's like, it's like that, right. And you just keep going and like. And if you're involved in that thing, you're also making money. Yeah. And then last, not least in certain circles, like. Like if you have. You want to be a researcher or you believe essentially it's a religion. So like, you know, and like one of the things. Very charismatic. Especially to people who've never had a religion. Because all of a sudden that hole in your heart that was yearning for. I don't know. I would say, you know, a established religion, Judaism, Christianity, Islam is like being filled. Yeah. And all the answers are there. But it's very, very successful at doing things that a company has to do. But it is not actually solving the problem that enterprises are now. It can solve them. That's the trick. It's not binary. It's not like you can't say they're not valuing. They're totally putting our business on steroids. Without LLMs, nobody would be talking about our ontology, about Apollo managing exploits, about our ability to manage an enterprise, essentially turning all these companies into FTEs. These deploy codes. We love them because now every company wants to deploy code. You know how you do that? You re platform on Palantir and like. And it actually works. It's not somebody with no taste, who's never done enterprise, who has no earthly clue how these things work, who's done something else and is like just imagining they know how to do it. Right. Yeah. Is part of this moment quite entertaining for.

There you go. There you go. We got that. I don't know. All this stuff, I. I trailed off. But is part of it entertaining to you that it feels like, you know, Palantir has always been, in some ways, not had competitors? Because there's nobody with Alex Karp running a company that does what Palantir does, besides Palantir. But at the same time, there's been tens of billions of dollars deployed now to effectively do what Palantir does, but just selling the intelligence part, not selling all the underlying kind of infrastructure that you. Well, they're doing two things. They're selling. They're trying to sell the intelligence part and they're trying to pretend if you just hire a bunch of people and let them run around their fts. Now, the. The very cool thing is when you've been in your basement doing your thing and everyone kind of use it as the freak show, it. It's really interesting and, and great to have adoption. The pretty ironic thing is half the people adopting now don't even know they're copying. But now the copying thing helps and hurts. Where it hurts is in the beginning. It puts clutter in the market. Yeah. And there's. There's no doubt about it where it helps and that. We saw this with defense tech, honestly. So, like, in defense tech, we were the only people. We were the first people. Despite what I. I love these. Honestly. Other podcasters, they're interviewing people or parroting things I said 20 years ago. They don't know it. And it's like, oh, that's so insightful. It's like, yeah, of course it's insightful. Carp said 25 years ago. And like, but it's. But. So that kind of. That part is super weird. But. And like, but. But it's. But what really happens when we see this is it expands the market. So in defense tech, we would not be doing this well just purely in government, unless there weren't 50 companies that were doing similar things. Because then the people are like, okay, first of all, you view it as, like, off balance.

Work. So, like, that's something like, if you're listening to this and you're like, look, you know, you don't have to agree with me on all my proclamations. I got a lot of. By the way, there's some people who think. I'm saying we should have a draft. Too lazy to read. I'm just saying we should. Like, in a world where everything is changing, everything is changing. Don't we have to find some communal structure to remember we're American? You know, like my. You don't like my idea of like, we all do a week in the park. Great. Come up with some other idea. We can have no idea, you know, and like. And then they're like, well, I'm saying I do not want to draft, to be explicit. They're like, oh, that's pro war. Now, honestly, you know what? Most of our wars are fought because no workingclass person is making a decision. You start making sure everyone is involved in everything. I'll see you have a few wars we fight. It's actually the anti war position. But any case, disagree with everything. If you're.

Everything I'll see you have few wars we fight it's actually the anti war position but any case disagree with everything if you're we have on the right and on the left people people who have no earthly clue what they're talking about Right hand left all they're talking about is how much they hate us and those of us who are sensible in the middle. You know too many of us are chill waxing like it oh like nationalization it can't happen America would never do walking sleepwalking into and you guys have tendies to protect now you guys should be on the front line of this like you got full oh, I'm sorry I have a I have a full on very impressive corporate leader coming on so I got I got.

About so it's like, it's like yeah. And so that's just a, it's a weird thing. It's going to be a super. The one thing I would say for anyone listening, if you're listening to this and you're chillaxing and not active, I'm not saying you have to agree with me politically or anything. Yeah there the like partly because of this dynamic and very self inflicted because I, I, I, I tell you, I can't name names. I called many of the titans of this world and, and like started this six months ago. Like every couple days we're going to be calling every couple days. Like some of them are like yeah, we're gonna be, I mean you know, it's like honestly they're like the batch. They find me very entertaining. Like I'm not sure. Like so they call because yeah, it's like, yeah, it's like, oh yeah, this is going to be entertaining. You're gonna pick up. Yeah. So any case. So I've been telling them for six months, six. We're gonna be nationalized. Yeah, we're going to be nationalized. And they're like why would anyone nationalize? Never happened in America. It's never. Why would anyone nationalize us? We're so likable. We're creating so much value. Like okay, I'm not going to debate that. I know how likable I am. I'm not going to tell you how likable you are. But I am telling you and you know the momentum on this is on the side of people in national and we don't get our act together and figure out ways we can say hey look, there are problems here. We're going to deal with these things are not going to. Yes, they are going to create opportunities. You have to talk openly about how these things are valuable because we have adversaries. You can't just say these, all that stuff. So the primary risk honestly to Palantir and a lot of these other countries is. And then it's going to be nationalized before national. It's going to be regulated by people who don't understand this. And now they'll tell you in private, I'm working on this. I'm da, da da. And this and this lobbyist. It's like not going to work. So like that's something like if you're listening to this and you're like, look.

A full on very impressive corporate leader coming on. So I got. Last question, last question. If we have time. How are your conversations going with Fortune 500 CEOs around headcount planning? There's been so many layoffs this last year that people were saying hey, we're getting so much out of AI we're able to, you know, cut back here or there. People inside tech often know like these, maybe there's just reduction because there needs to be a reduction or got bloated. Maybe they do need to fund some areas. Declining business model or getting out. Yeah, the business momentum. But how are those conversations going? What does it look like? Like I, by the way, I Talked to Fortune 500 companies, I talked to unions, I talked to soldiers, I talked to fire. If you upscale somebody, they're more valuable. Sure. And like all these, whether it's people working on batteries, people driving trucks, people corporate leaders. And again, this is where I think we have to be very careful to be more disciplined on the corporate side. Like if you run around saying AI allowed you to fire two thirds of your workforce and you did it because maybe your competitors kicking your ass. Yeah, yeah, that could, that is a really like you might as well just go sign up for Bernie, Bernie Sanders manifest. And part of the thing is they really believe that can't happen. So they're free riding on the fact that it could like we have and it just cannot work anymore. These things are very, very explosive. The American people sense that there is something dangerous here. And when people are playing with that fire, it's like it's a. They assume the fire won't burn their hands. That's not the world we're in. That fire is going to consume us. And what we see, again the war fighting example is just the most neutral, not for everybody. But like the soldiers at the bottom have gotten much more valuable. And I don't even just mean the special operators, which obviously they're in a different league. But like every, the people doing a lot of the operations now are doing our product. They're high school, vocationally trained. You see this everywhere. The, the modern enterprise is going to have like, we have a true like very, very, very smart person coming on. And it's like you're going to have a very smart executive. He's much better at hiding it than I would be if I were him. But that's. You can talk to him about that. But, and, and then very talented, creative people with taste all up and down the stack. Any case, I think this is time for me to I think this is time. Do we?

This time around, what's changed? Well, we're in a phase. Yeah. All. Each one of these things like marks a time. First of all, you guys are even more baller, more successful. Thank you. Thank you. Some tendies in your pocket. I think it might have been part two. We gotta say thank you. Looking bigger and stronger. Hey, are you more attractive in your personal life now, randomly? Well, here's what we're actually focused on. Dead hangs. Yeah, yeah. So you came on last time, you said your dead hangs around like five. Oh no, it's, it's. Well it's plateaued in the last couple months at 5:30. 5:30. Okay. So we, the thing is like people are going to hear that, they're going to think hanging on a bar, five minutes, you got to go and do it. The audience has to go try to do it. We've started doing it. We're still in the under between. Yeah, between one and two minutes. Somewhere around a minute 30, you feel like your tendons are going to rip. 3130 dead hang is respectable. Okay. Two minutes is super elite. It does feel respectable. When you have the five minute number, you're looking at the. Thanks. Strength matters. Now. The, the, the thing is, I don't want to go into rabbit hole in training. The single biggest mistake people make is they try to hang every day. You need recovery, it's like anything else. So if you want to mimic and get progress, you just do what I do, which is once a week you hang as long as you can. Doesn't have to be super macho. And then that's your day. So like to say you can do 130, but multiple sets or no, no. You know, one day a week you do your maximum max. Wow. So like let's say you could do two minutes, okay. You try to do at least 1:30. You fight to get to 1:30, but you don't fight to get to two minutes. That's your dead hang day. And then you can basically fuck around the next day. Do whatever you want. Don't overdo it. But you could do two times one minute with a long break and then can't you just go around, do less and less and less. Two days before, if you two minute dead hang, you do like four times 15 seconds the day before you take off and you do that, just keep doing that and your day what the mistake people make is they hear my ball or time. Fuck that guy. I mean the mistake you're making is not doing a course. This could be a whole new revenue line. You guys have it for you guys call in. So yeah, I mean the dead hang is that it's like. And also some of it's just genetic. Like my other metrics are elite, but that this is somehow alien territory. God given gift. What about. What about breath? Hold on your.

About Shopify. Shopify is the commerce platform that grows with your business. Lets you sell in seconds online, in store, on mobile, on social, on marketplaces. And now with AI agents. And we are very fortunate to be joined by Alex Karp. In just a minute, he's coming in to speak with us at aipcon here. We're gonna bring him in just a minute. While we wait, Austin based podcaster Joe Rogan reportedly being considered for 60 minutes. 60 minutes. They're going to have to call it 200 minutes because he records long podcasts. In 60 minutes hundreds. It'll just be called Barry, if you're listening, put us in. Put us in the ring. We're ready to go. You need technical correspondent, someone who can just chop it up for 60 minutes. We do 60 minutes three times a day. We're ready to go. This is going to be light work for us, Barry. I'm ready. I'm ready. You could do 60 minutes right now. You could do 60 minutes tomorrow. You could do 60 minutes. You could do an extra 60 minutes easily. When you're putting up. We're putting up a thousand minutes a week. It's no problem. We did consider that at one point. Early on we do weekends. Should we do basically a morning show? Oh, yeah. Take a two hour break and come back, do another show. Late night show. Late night show, maybe. Anyway, still we have Alex Garp here with us. Welcome to the show. Welcome back. Thank you so much for taking the time. We're going to have you grab these headset, these headphones. Right? Not these. You can sit. No, no. Get close, get close. Get in here. We liked it last time the three of us were sitting here. No, we can, we can put the giant. Let's put this up here. Right here. This always works. Makes me feel. Yeah, yeah. Get in here, class. There we go. Okay, how is it going? How is aipcon this time around? What's changed? Well, we're in a phase. Yeah. All each one of these things, like, marks a time. First of all, you guys are even more baller, more successful. Thank you. Some tendies in your pocket. I think it might have been part two. We got to say thank you, biggest guest. You're looking bigger and stronger. Hey, are you more attractive in your personal life now? Random.