Podcasts about 5B

Today, I'm talking with Slydio CEO Adam Bry, who runs the leading US maker of autonomous drones. We covered a lot in this conversation, including Skydio's police and government work at a time when military use of AI is more controversial than ever and competing with Chinese drones against the backdrop of the Trump's administration's DJI ban. There's a lot in this one – maybe more than anything, it was refreshing to hear Adam talk about using AI to bring even more people to work at Skydio as the company expands. I also got to fly a drone, which ruled. Links:  Sorry kid, drones are for war now | The Verge The FCC's foreign drone ban is here | The Verge Skydio is pivoting to enterprise — its consumer drones are dead | The Verge Skydio commits $3.5B to expand US manufacturing | Skydio A US drone maker tries to take back the country's skies | Bloomberg DEA looks to add Skydio, Parrot drones to its arsenal | FedScoop The future of border security isn't at the border at all | The Verge Subscribe to The Verge to access the ad-free version of Decoder! Credits: Decoder is a production of The Verge and part of the Vox Media Podcast Network. Decoder is produced by Kate Cox and Nick Statt and edited by Ursa Wright. Our editorial director is Kevin McShane.  The Decoder music is by Breakmaster Cylinder. Learn more about your ad choices. Visit podcastchoices.com/adchoices

She told investors $440M. The real number was $15.7M. This week: the CaaStle fraud, Walmart's Subway play, and Shopify's $5B bet.In this episode:Walmart + Subway. Walmart folded Subway into its delivery app, with express orders coming off the Subway counters already sitting inside its stores. Live now in six states (Connecticut, Florida, Georgia, Ohio, Pennsylvania, Texas), with roughly 1,400 locations targeted by end of summer. Flat delivery fee, in-store menu pricing, 30 minutes or less. It rides on the Spark drivers and drones Walmart is already paying for, pointed straight at Uber Eats and DoorDash.The CaaStle fraud. CaaStle told investors it booked $440 million in net revenue for fiscal 2023. The real figure was $15.7 million. Founder and CEO Christine Hunsicker confessed to doctoring the financials on a video call with her board in December 2024, then kept her job for three more months while investors heard nothing. She controlled that board. Co-founder Jaswinder Pal "JP" Singh sold $6 million in stock back to the company around the time investors started asking questions. Hunsicker pleaded guilty to securities fraud in March, admitting she defrauded investors of $283 million, and she's scheduled for sentencing this summer.Apple rents the brains. At WWDC on June 8, Apple introduced Siri AI: a rebuild that reads what's on your screen, pulls context from your messages and email, and takes actions across apps. The part Apple said less about is who's powering it. Reporting puts Apple at more than $1 billion a year to Google for a custom Gemini model running Siri's cloud features. The China rollout waits on regulators. For a company that has spent decades insisting it owns its entire stack, renting the model from a rival is the real headline. Tim Cook hands the company to John Ternus in September.Shopify's $5 billion vote. Shopify added $3 billion to its repurchase program on June 2, taking total authorization to $5 billion. Buybacks usually get read as "we've run out of ideas." Then Q1 revenue rose 34% to $3.2 billion and merchants cleared $100 billion in GMV for the second quarter in a row. Decide for yourself which signal you believe.

Send us Fan MailTravel writer, guidebook author, former Big Sur ranger, and old friend, Stuart Thornton, returns to Big Sur—at least in spirit—to reflect on a career spent encouraging people to visit the very places he sometimes wishes they would leave alone. We talk about discovering California's coast, writing guidebooks, the challenge of over tourism, and whether AI will help travelers find deeper experiences or simply send more people to the same beautiful places. Along the way, Stuart shares stories from Big Sur, the road, and a lifetime of chasing the next hidden corner of the map.Stuart traces his path from a Richmond, Virginia upbringing to a campsite at Andrew Molera, a ranger job that came with a phone book and a dorm bed, years living in the old naval housing at Point Sur, and a writing career that runs from the Monterey County Weekly to National Geographic to a shelf of Moon guidebooks. Along the way: a condor egg airlifted from the backcountry, an interview with James Cameron fresh from the Mariana Trench, a settlement after Anthropic ingested four of his books, and the contradiction he's lived with for years — a man who spends his days off chasing empty beaches while writing the books that fill them. Plus monks and silence at New Camaldoli, Gary Clark Jr. winning over the Monterey Jazz crowd, and a novel about "Billy the Brewer."LinksStuart Thornton — personal site · Moon author pageJoe Burnett / Ventana Wildlife Society — condor biologist who got Stuart access to the egg storyGary Clark Jr at Albert HallJames Cameron — record Mariana Trench dive (National Geographic)Pico Iyer — author; wrote on New Camaldoli and on Henry MillerWilliam T. Vollmann — The Atlas — Stuart's early influenceRyan Masters — Monterey County Weekly writer; band SuborbitalsEric Johnson — longtime Monterey County Weekly editorKem Nunn — "surf noir" novelist (Tapping the Source, The Dogs of Winter, John from Cincinnati)Martin Gurri — The Revolt of the Public — Magnus's earlier guestHipólito Bouchard — Argentine raid on Monterey, 1818Kayla Anderson — Moon Northern California Road Trips (co-author)"Billy the Brewer" — California's first beer brewer; subject of Stuart's novel-in-progressPlacesHenry Miller Memorial LibraryNew Camaldoli HermitageAndrew Molera State Park (and Pico Blanco above the Big Sur River)Pfeiffer Big Sur State Park / Big Sur StationPoint Sur State Historic Park & Lighthouse — site of the former naval housingPartington Cove (Julia Pfeiffer Burns State Park)Monterey State Historic Park — Custom House, Casa Serrano, California's First Theatre"Shipwrecks: Every Broken Piece Tells a Story" — Casa Gutiérrez exhibit (opened June 12; the Natalia, wrecked 1834)Monterey Bay Aquarium — Stuart's tip: Tue–Thu, 2–6 pmHenry Cowell Redwoods State Park (albino redwoods)The Dyerville Giant — Humboldt Redwoods State ParkMusic & eventsMonterey Jazz FestivalFolk Yeah! (Britt Govea)Pixies — played the Henry Miller LibraryBonnie "Prince" Billy / Will Oldham — the first Folk Yeah show at FernwoodGary Clark Jr. — Stuart wrote an early national profileRelix MagazineTaj Mahal — Magnus's Fiji/Stockholm anecdoteBooks, publishers & otherMoon Travel Guides (incl. Moon California Road Trip, IPPY Gold Medal 2016)Monterey County Weekly / Monterey County NOWNational Geographic EducationJohn Steinbeck — The Pastures of Heaven · Sweet Thursday · East of Eden — Netflix series, fall 2026The Anthropic copyright settlement ($1.5B; Bartz v. Anthropic)Support the show_________________________________________________This podcast is a production of the Henry Miller Memorial Library with support from The Arts Council for Monterey County! Let us know what you think!SEND US AN EMAIL! 

Dan Newman heads FP&A at RingCentral, a $2.5B public SaaS company (a platform for business phone, SMS, contact center, workforce engagement management, video collaboration, and messaging) , where he has overseen a  period of 10X growth. Discussing a career comprising consulting, being a financial analyst at Salesforce, private-equity-backed startups, Dan discusses building financial models towards a sale, navigating the shift from 30% growth to efficiency, and AI processes. In this episode Building the FP&A team at SchoolMessenger and pivoting to a sale  Joining RingCentral at a $250m run rate and a six-person FP&A team towards $2.5billion Why revenue is rarely as simple as it looks  Business partnering in an age of efficiency in SaaS

MrBeast's valuation has jumped from $1.5B to around $5B, with Feastables alone bringing in roughly $250M a year. The guys debate whether a creator‑led giant like this goes public, spins off brands like Feastables to players like Hershey, or keeps compounding privately as the ultimate distribution‑first business.

MrBeast's valuation has jumped from $1.5B to around $5B, with Feastables alone bringing in roughly $250M a year. The guys debate whether a creator‑led giant like this goes public, spins off brands like Feastables to players like Hershey, or keeps compounding privately as the ultimate distribution‑first business.

Czy pobyt na oddziale psychiatrycznym to najgorszy koszmar rodem z „Lotu nad kukułczym gniazdem”? Jak wygląda codzienność za zamkniętymi drzwiami szpitala? Jakie zasady tam obowiązują? I czy jest się czego obawiać? O depresji, zaburzeniach lękowych i leczeniu na zamkniętym oddziale psychiatrycznym opowiada Patrycja Trzeszczyńska, autorka książki „Kobiety z oddziału 5B. Intymny reportaż ze szpitala psychiatrycznego”.– – – – – – – – – – – – – – – „7 metrów pod ziemią” to wywiady o tematyce społecznej. Rozmawiam z ciekawymi ludźmi - konkretnie i bez zbędnych dygresji. Mój cel? Wydobyć z rozmówców prawdę, na którą nie zdobyliby się w telewizyjnym studiu. Rafał Gębura.Wideo: Grzegorz SkoneckiMotion design: Jakub KosmowskiZdjęcia: Maciej KosmowskiOświetlenie: Krzysztof KosmowskiOprawa muzyczna: Nice Guys StudioProdukcja: Press Play

Bitcoin just posted its worst week since the FTX collapse — a 16% slide below $60,000, the steepest drop since Sam Bankman-Fried's exchange imploded in November 2022 — and analysts are warning the modest bounce to ~$61,300 may be short-lived. What makes this scarier than the FTX-era crash: there's no single catastrophic catalyst. Analysts are calling it a "silent bear market" because Bitcoin just broke below its 200-week moving average for the first time in this cycle, rate-cut bets have flipped to rate-HIKE bets thanks to strong U.S. jobs data, gold/silver/BTC are all falling together as the safe-haven thesis breaks, and Friday's $75 billion SpaceX IPO is poised to drain another $22.5B of retail capital directly out of crypto. Add Anthropic launching its zero-day-finding Mythos AI today (the same tech that found the four-year-old Zcash bug), Warsh planning to kill the Fed dot-plot, JPMorgan deploying long-running autonomous AI agents, and today's U.S. CPI print landing into the chaos — and this may be the cleanest structural bear market we've seen all cycle. We break down whether the FTX comparison actually holds, what a 200-week MA break historically means for Bitcoin, and which catalysts could stop the bleeding before $50K comes into play. Learn more about your ad choices. Visit megaphone.fm/adchoices

On this week's episode of Valley of Depth, we sit down with Ross Fubini, Managing Partner at XYZ Venture Capital, for a conversation about what it actually means to be early in a market nobody believed in. Ross wrote the first check into Anduril in 2016, alongside Founders Fund, before defense tech was a category, before the term sheet wars, and before the word "primes" became a punchline on X. He did it because he'd spent years inside the Palantir network and understood something others couldn't see from the outside: that the company was an unparalleled crucible for entrepreneurial talent, churning out founders who knew how to sell technology to the hardest customer in the world. XYZ has since backed 40+ Palantir alumni across 130+ companies, and the firm now sits at over $1.5B under management. We cover: Why Ross knew Anduril would win from day one and why he still underestimated how big it would get The Palantir thesis: what he saw in that network in 2017 that everyone else missed How the defense tech landscape has gone from "nobody will return your calls" to drunk pirates chasing cash Where the market is overcrowded and where there's significant whitespace How to invest in the SpaceX ecosystem without getting eaten by it What good board work actually looks like when a company is in trouble His case for why the best venture insight is almost always about a market shifting not just a great team • Chapters • 00:00 – Episode Trailer 00:46 – From engineer to investor 04:49 – What Ross saw in Palantir before anyone else was talking about them 06:43 – The founding story and pitch of XYZ 09:42 – How Ross's engineering background informs his investing 14:01 – The market moving around technology 16:14 – What Ross thought would be the outcome of his Anduril investment 17:40 – The truth in the assumption of the US government being a reliable customer in defense tech 23:54 – Anduril vs. other defense tech firms 26:48 – Sectors that Ross is hesitant on 28:35 – Capabilities on Ross's radar 30:02 – SpaceX IPO 33:26 – Investing in an industry with a dominant player 36:19 – How much is Ross focusing on space vs. everything else? 38:42 – Hardest moment Ross has had with a founder 42:10 – How the VC community has evolved since Ross's time at Netscape 44:41 – What does Ross do for fun?   • Show notes • XYZ's' website — https://www.xyz.vc/ Ross's' socials — https://x.com/fubini Mo's socials — https://x.com/itsmoislam Payload's socials — https://x.com/payloadspace / https://www.linkedin.com/company/payloadspace Ignition's socials — https://x.com/ignitionnuclear / https://www.linkedin.com/company/ignition-nuclear/ Tectonic's socials — https://x.com/tectonicdefense / https://www.linkedin.com/company/tectonicdefense/ Valley of Depth archive — Listen: https://pod.payloadspace.com/   • About us • Valley of Depth is a podcast about the technologies that matter — and the people building them. Brought to you by Arkaea Media, the team behind Payload (space), Ignition (nuclear energy), Decoding Bio (biotech) and Tectonic (defense tech), this show goes beyond headlines and hype. We talk to founders, investors, government officials, and military leaders shaping the future of national security and deep tech. From breakthrough science to strategic policy, we dive into the high-stakes decisions behind the world's hardest technologies. Payload: www.payloadspace.com Tectonic: www.tectonicdefense.com Ignition: www.ignition-news.com Decoding Bio: www.decodingbio.com

Jasmine Mund, mechanical design engineer with a key interest in the fusion industry, gives this week's global Fusion News update. As always, links to the stories mentioned are included below.1. Record funding for European fusionhttps://www.neimagazine.com/news/record-funding-for-european-fusion/2. The world's largest privately owned laser just turned onhttps://techcrunch.com/2026/06/03/the-worlds-largest-privately-owned-laser-just-turned-on/3. Thea Energy Raises $100 Million in New Funding to Advance Fusion Technologyhttps://www.powermag.com/thea-energy-raises-100-million-in-new-funding-to-advance-fusion-technology/4. Commonwealth Fusion Systems says papers validate its quest to generate powerhttps://www.reuters.com/business/energy/commonwealth-fusion-says-papers-validate-its-quest-generate-power-2026-06-04/5. Helion hits $15.5B valuation with $465M in new cash as it aims to commercialize fusion this decadehttps://www.geekwire.com/2026/helion-hits-15-5b-valuation-with-465m-in-new-cash-to-commercialize-fusion-this-decade/#:~:text=Helion%20Energy%2C%20a%20startup%20racing,now%20valued%20at%20%2415.5%20billion.Bonus:https://www.youtube.com/watch?v=jTH0kJ6dSaEhttps://techcrunch.com/2026/06/02/pacific-fusions-latest-prototype-packs-440-gigawatts-into-an-80-nanosecond-burst/https://interestingengineering.com/energy/nuclear-fusion-durability-breakthrough-scanhttps://www.world-nuclear-news.org/articles/iter-magnet-test-facility-begins-operationhttps://interestingengineering.com/transportation/world-first-floating-fusion-reactor-powered-vessel

About 80% of STRC holders are retail investors. Glenn Cameron walks through the prospectus, how Saylor's public claims differ from the reality, and why Strategy has no good options. ======================================================== Thank you to our sponsor! Fidelity: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: crypto.fidelitycareers.com. Cape: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== Strategy's sale of 32 Bitcoin last week came with unusual framing: Saylor said the purpose was to "inoculate the markets." Glenn Cameron, Global Head of Institutional at Onramp Bitcoin, reads that word as preparation for larger Bitcoin sales ahead. Glenn traces the pressure points. Strategy is trading at 84% of its Bitcoin value, making new equity issuance dilutive rather than accretive on a Bitcoin-per-share basis. Its cash reserve has been cut to roughly seven months after the company redeemed a 0%-interest convertible note. And STRC, the perpetual preferred stock Saylor has marketed as "a high yield bank account," carries a dividend the board can suspend for any reason. The episode's sharpest argument: 83% of STRC holders are retail investors sold a product that resembles a bank account but behaves like junior equity on a volatile Bitcoin company. No maturity, no FDIC protection, no right to redeem. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: Glenn Cameron, CFA - Global Head of Institutional at Onramp Bitcoin Timestamps

The EU is finally using its teeth on Chinese e-commerce — and the auction landscape is already shifting. Mike and Chris break down what falling CPCs in Europe mean for your accounts, why the July 1st customs change could matter more than any fine, and the playbook for grabbing market share before the window closes.Then: a major Google Marketing Live feature almost nobody is talking about. Google's new AI Performance Insights and the "Share of Voice" metric in Merchant Center finally show your product visibility inside AI Overviews, AI Mode, and Gemini — across both organic and paid. We cover what it does, where it lives, and the one big gap Google still leaves wide open.In this episode: • Why the EU crackdown on Temu, Shein & AliExpress is a sign of what's coming • Average CPCs dropped ~2.3% in May 2026 — and up to 5% in some categories • The July 1st customs exemption change and what it does to Chinese sellers' margins • The playbook: tROAS as a signal, AI Max search, demand-led growth & smart bidding exploration • JoyBuy — the unregulated Chinese player to watch • Google's new AI Performance Insights & Share of Voice metric in Merchant Center • The black box that still remains: campaign-level dataGrowing Ecommerce is brought to you by smec (Smarter Ecommerce). Learn more at smarterecommerce.com.

About 80% of STRC holders are retail investors. Glenn Cameron walks through the prospectus, how Saylor's public claims differ from the reality, and why Strategy has no good options. ======================================================== Thank you to our sponsor! Fidelity: Fidelity has been building in crypto and DeFi since 2014 — now they're hiring. Explore career opportunities at one of the most forward-thinking names in finance here: crypto.fidelitycareers.com. Cape: Your biggest crypto vulnerability isn't your wallet, it's your phone number. Cape is America's privacy-first mobile carrier that rotates your SIM identity daily and blocks SIM swaps before they happen. Get 33% off your first six months at cape.co/unchained (use code: UNCHAINED). ======================================================== Strategy's sale of 32 Bitcoin last week came with unusual framing: Saylor said the purpose was to "inoculate the markets." Glenn Cameron, Global Head of Institutional at Onramp Bitcoin, reads that word as preparation for larger Bitcoin sales ahead. Glenn traces the pressure points. Strategy is trading at 84% of its Bitcoin value, making new equity issuance dilutive rather than accretive on a Bitcoin-per-share basis. Its cash reserve has been cut to roughly seven months after the company redeemed a 0%-interest convertible note. And STRC, the perpetual preferred stock Saylor has marketed as "a high yield bank account," carries a dividend the board can suspend for any reason. The episode's sharpest argument: 83% of STRC holders are retail investors sold a product that resembles a bank account but behaves like junior equity on a volatile Bitcoin company. No maturity, no FDIC protection, no right to redeem. Host: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Host / Unchained Guests: Glenn Cameron, CFA - Global Head of Institutional at Onramp Bitcoin Timestamps

For this week's ep of my podcast Apt. 5B we're chopping it up about if we were teaching a hip hop class, what 5 albums would be required listening from the 80's, 90's and 2000's? Just another DOOOOOOOOOOPE ep y'all and don't forget to subscribe to our Youtube channel and check us out wherever you listen to your fave podcasts at!@Kil889 www.willmakebeatsforfood.com

Elon Musk is hated, right? And he's about to make his current wealth look like he's been a derelict.$1.75T filing. He will easily crest the $T net worth.Are you listening to me when I give you stock tips? The Dow.Stocks in Raytheon, Lockheed Martin, and others.My next play is energy stocks. Look, I'm no Pelosi, but if you sent me 10% of what you earned, I could buy a house cash.You worried about Iran? Not a lot of talk about it in the news.[SEGMENT 2-2] The Great Awakening 2[X] SB – Woman asked how many genders[X] SB – Abby Phillip on ICE raids[X] SB – Talarico well-rehearsedSure. Iran broke the ceasefire, and Trump is as cool as can be. Talk about disturbing to the Left.How can he be so cool as they try to propagandize the war? What does he know that they don't?"In 2024, almost 50% of inmates in German prisons were foreign nationals or migrants.. In Switzerland, it's 72%.. When your prisons are filled with so-called asylum-seekers who repaid kindness with crime, it's time to END the failed experiment of Open Borders."Billionaire Mark Cuban asks why insurance companies pay $2,500 for an MRI when 'a center down the street' charges $350https://x.com/patrickbetdavid/status/2061197275385282830Biden: ONLY $4m (goal was $200m to $300m) Obama: $1.5B to $1.6B George W. Bush: $500m + Clinton: $165m George H.W. Bush: $43m Reagan: $57-$60m Carter: $26m (In 1981)See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Liftoff finally went public this week — at a valuation that tells you exactly what the public market thinks mobile ad networks are worth. That's just one of four stories this week that genuinely matter if you run UA.Matej Lančarič flies solo for the breaking news segment, ranked from biggest to most practical. Liftoff listed on Nasdaq as LFT after a second attempt, raising $437M at a $3.83B valuation — a 25% haircut from the $5B it wanted in January, and below the private valuation General Atlantic paid in 2025. A Niko Partners report buried a number most Western publishers still aren't modeling: minigames are now almost 20% of mobile game spending in China. Akin launched AMF Capital with Makers Fund, opening with a $28M UA financing facility for Birhack. And the throughline of the week — mobile has officially shifted from core-first to event-first, with Monopoly Go's Simpsons crossover, Rovio's own admission, and Supercell's MoCo reboot all pointing the same direction.The bar keeps moving up. The industry is consolidating around scale, capital, and live-ops.━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━⏱️ TIMESTAMPS00:00 Supercell reboots MoCo's live-ops00:30 Liftoff goes public at $3.83B — the IPO breakdown03:00 China minigames are now 20% of mobile spend05:30 AMF Capital launches with a $28M UA financing deal07:00 Mobile shifts from core-first to event-first09:00 What event-first actually means for your UA

Hey folks, Alex here, let me catch you up! I've had a feeling that this week is going to be crazy, as it started on the weekend MiniMax M3, then with Jensen announcing new RTX Spark, NVIDIA's first PC chip packing 1 petaflop of local AI power into thin laptops.A few days later at Microsoft BUILD, Satya & Mustafa from MAI dropped 7 AI models, completely pre-trained from scratch, including a new MAI-thinking-1, MAI-code and MAI-image 2.5 that started topping the image gen charts. Then other image models started racing to the top of the Arena benchmarks, IdeoGram 4 hitting becoming SOTA open weights image-gen model, and Reve 2 beating Nano Banana just a few hours after that. And then today, NVIDIA dropped Nemotron 3 Ultra, their latest 550B open weights model, data and training and Arena published a new agentic eval leaderboard and we got a new Gemma 4 12B. I've had the great pleasure to host Chris (@llm_wizard) from Nvidia, Peter Gostev from Arena and Karan from Nous Research (who were featured prominently by Jensen!) all on the show. Def don't miss this one! Let's get into the details. ThursdAI - Join the flock of folks who know what is happening in AI before everyone else.Open Source LLMs

Need proof that you can have it all? Today's guest is Elena Cardone, the co-architect of Grant Cardone Enterprises, bestselling author, and host of The Elena Cardone Show! She breaks down the mindset, inner work, and action it took to expand her vision into a $5B empire. We unpack the "be, do have" cheat code to help you operate at a higher level, anchor into your future identity faster, and turn possibility into reality. If you're ready to finally have it all, you're in the right place!   HIGHLIGHTS 00:00 Meet Elena Cardone, CEO, mom, wife, and empire-builder! 03:30 The quote that taught Elena how to reverse engineer her success. 10:50 How to anchor into your future identity faster. 20:15 What does "having it all" actually look like? 24:00 How did you build an extraordinary marriage? 28:30 What it takes to go all-in on stepping into a support role. 41:30 How to face resistance when chasing your vision. 47:15 Are you meant to dream bigger? 50:30 The first step to create the reality where you have it all. 52:50 How to manifest your own version of power.   RESOURCES + LINKS Learn more about Elena HERE!   Save $250 on your ticket for the 2026 Powerhouse Women Event HERE!   FOLLOW Elena: @elenacardone Powerhouse Women: @powerhouse_women Lindsey: @lindseymarieofficial Visit the Powerhouse Women website: powerhousewomen.co Join the PW Community Facebook Group: facebook.com/groups/powerhousewomencommunity

On this week's show special guest co-host Andy Boyd joins Patrick Gray and James Wilson to discuss the week's cybersecurity news. Andy is the CEO of REDLattice, which makes the Paragon “intelligence collection and reconnaissance” solution. They cover: Adversaries are tracking US troop locations with commercially available location data A new Signal phishing campaign is going after message backups 404 Media is suing ICE to get its spyware contract with REDLattice (lol) Microsoft's tone-deaf response to ‘never justifiable' zero-day disclosures Mini Shai-Hulud pops up again just as Glassworm gets shattered Much, much more This week's episode is sponsored by Authentik, an open source identity platform that you can host yourself. In this week's sponsor interview Authentik's CEO Fletcher Heisler joins Patrick Gray to talk about how they're keeping up with the bugpocalypse, and also the work they're doing to support identities for AI agents. This episode is also available on YouTube. Show notes The Pentagon Knew Enemies Could Track Troops' Phones for Years. Now They Are | wired.com U.S. says troops were targeted with location data, as senator warns ad industry is a ‘national security threat' | TechCrunch Security DOD location data attachment (Wyden) | Risky Business #830 -- LiteLLM and security scanner supply chains compromised | Risky Business Media US has seized nearly $1 billion in crypto from Iran, Bessent says | Russia claims foreign spy agencies hacked officials' phones | therecord.media Hackers are trying to steal Signal users' backups in new wave of phishing attacks | TechCrunch Security We Sued ICE to Get Its Spyware Contract. The Agency Is Redacting Essentially Everything | Social Signals Microsoft calls zero-day releases ‘never justifiable' as researcher threatens to drop more | therecord.media A shared responsibility: Protecting customers through Coordinated Vulnerability Disclosure | Social Signals Microsoft says it will not pursue security researchers after zero-day backlash | therecord.media IBM's new $5B initiative will help enterprises rapidly patch open-source vulnerabilities | Social Signals Federal audit reveals NIST's NVD is plagued by poor planning and duplication | cyberscoop.com Hackers Used Meta's AI Support Bot to Seize Instagram Accounts | krebsonsecurity.com Critical Windows Netlogon RCE flaw now exploited in attacks | BleepingComputer CISA adds exploited Palo Alto Networks GlobalProtect flaw to KEV | Cybersecurity Dive Password manager Dashlane says hackers stole some customers' password vaults | TechCrunch Security CrowdStrike disrupts Glassworm botnet that preyed on open-source supply chain | cyberscoop.com Botnet of more than 17 million devices dismantled | arstechnica.com Chinese-speaking fraud gang could be stealing millions from 2026 World Cup fans | therecord.media ACCC investigating Olympics ticket scam | ABC Dozens of Red Hat packages backdoored through its offical NPM channel | arstechnica.com Solo podcast: A deep dive on TeamPCP - Risky Business Media | Trump administration releases scaled-back AI executive order | cyberscoop.com Google security engineer accused of turning confidential search trends into $1.2M win on Polymarket | cyberscoop.com

We've informally heard that Satya is a listener to LS for a couple years now, but it was still absolutely surreal to meet him and do a live pod at Build, together with our friends at No Priors, the leading VC AI Podcast that we also greatly admire!We covered the MAI model technical takeaways on yesterday's AINews, so I will focus our recap of Satya's main messages around three elements:* Satya's adaptation of the Bill Gates Line for positioning Microsoft as the Frontier Intelligence Platform — customers must gain much more value from the Microsoft ecosystem than Microsoft itself, by building on multi-model harnesses like OpenClaw and Scout, drawing on the full enterprise context exposed by context layers like Work IQ (heavily dogfooded by his C-suite), and building up private evals and traces as a new form of Token IP* AI ROI: On one hand, enterprises are having difficult conversations around Tokenmaxxing and Layoffs, and on the other hand, there are serious re-evaluations of the End of SaaS since the Build vs Buy equation has changed so much. Our previous SemiAnalysis guest had… interesting comments on Microsoft's position on this as the ur-SaaS titan, and Satya had great answers* Making the Impossible Possible: Kevin Scott's inspiring framing around what the most ambitious version of applying AI and technology at large to business and social problems, like education and social impact.Enjoy!Full VideoTranscriptVoiceover: Welcome swyx, Sarah Guo, Elad Gil,, and Chairman and Chief Executive Officer of Microsoft, Satya NadellaSarah Guo: Welcome to a crossover episode of No Priors and Lane Space with Satya Nadella. Um, congratulations on an amazing build. No, thank you so much, and it's great to be with both of you. I listen to both of you or b- both the podcasts all the time. It's great to be on it.Thank you so much. [00:01:00] So you're just talking about, um, these amazing, uh, announcements from across the Microsoft estate all morning for, I think, three hours. What is the, uh, what's the most important reflection or takeaway you have?AI as an Ecosystem PlatformSarah Guo: I, I'd say there are, uh, perhaps the, the biggest one for me is let's sort of conceptualize this more as an ecosystem play as opposed to a single model or even a single platform, right?Satya Nadella: I mean, you know, whatever I... At least for me, having grown up at Microsoft, having seen, whatever, four major platform shifts, uh, I sort of fall into that, um, uh, camp where a platform is defined by fundamentally its ability to create more value about the platform versus what's captured in the platform. And so if you, you view what's happening right now, I think this morning's keynote was how can any company, whether it's an AI native company or a traditional enterprise company, participate as a first-class participant where they can point to AI they created, [00:02:00] right?It's not that they don't use other people's AI. Of course they will. But to me, what's the path? What's the recipe? How do I do it? What does a stack look like? What does the tooling look like? What is valuable? How do you do that? That's it. That's sort of our job to do. Yeah. Ecosystem strategy is, uh, very complicated, right?Sarah Guo: Because you end up building certain components, partnering for certain components, supporting them. You just announced this big suite of models. Like, tell us a little bit about the, uh, training strategy for Microsoft now. Yeah.MAI Models & Training StrategySarah Guo: So, so the thing that we wanted to do with the MAI models was to build, and as Mustafa talked about, first of all, a great lineage, right?Satya Nadella: Starting with pre-training, uh, with very good data quality, uh, doing all the ablations, making sure because in, in some sense it's becoming even harder to build a clean lineage model just because there's so much stuff out there, uh, that you truly need to ablate out to be able to have a fantastic [00:03:00] pre-trained model.In fact, that's one of the challenges of a lot of the open weight models is they look great on one benchmark or two, but they're not great on practice. So that's why, in fact, even in the RFDEs are, they, they are pretty gone really excited about these MAI models because how the heck can a small five B model hill climb?Uh, and it goes back a little bit to what I think is ultimately the key thing to do, which is try to pursue finding that cognitive core. Uh, so to me, starting with a clean lineage- Then creating that ability for companies to be able to use this, right? Not just as a generalist, but to create their own specialist by building this hill climbing scaffold around it, right?So it's not just the model, but you have a hill climb scaffold around it, then you will start building your RLE. You will start collecting the traces. Most importantly, you'll have private evals because we know all the evals out there are good, interesting, [00:04:00] but they're not really that critical- They're work, yeahSwyx: at this point because they all can be maxed. And so the point is each company will have its own private eval. And so that end-to-end platform story around our models is sort of, uh, what I think is interesting. And then the one other thing, Sarah, since you brought that up, is I do feel there's a new frontier.Satya Nadella: Like people talk about the frontier and are you operating at the frontier. Um, interestingly enough, if you add a little temporality to it, you can use, let's say, in, in, in fact, the, the Lando Lakes demo we showed was pretty cool. We used, whatever, GPT-55, right? Then you collected a bunch of traces, and then you took a 5B reasoning model and achieved higher.Sarah Guo: Uh, so that is another aspect of what it means to appear... uh, you know, operate at the frontier Yeah. I, I think, uh, I first of all have to congratulate you on basically building a frontier neo lab inside of Microsoft in two years. Um, I'm wondering, you know, you have all this AI strategy that you're rolling out.Lessons from Two Years of AI DevelopmentSwyx: I'm wondering, what do you know now that you wish you would tell yourself two years ago where- or two or [00:05:00] three years ago? Three years for the Jensen partnership, two years for, uh, MEI. Yeah, I mean, I think the, the thing when, that I reflect quite a bit, right, which is sort of obviously I got into all this when I got excited by the, the scaling laws paper and, you know, when, you know, even the OpenAI partnership came about when those folks said, “Hey, we're gonna really throw a lot of computer transformers.”Satya Nadella: Uh, and they've helped. I- the thing that I always look back and say, “Wow, these things, uh, do have capability that they're climbing up.” W- I mean, this, you know, this crude way of saying it is intelligence is log of compute kind of works. Now what I think we underestimated perhaps is the real-world complexity of deploying these so that they actually deliver the value in the real world, right?So the outcomes as measured by any benchmark is interestingly important, but the true eval is when people out there are able to do unique things that they only can value, and it's very [00:06:00] measurable, right? That I wish we had sort of even, like, had more in our consciousness, right? Which is as an industry.Sarah Guo: Because right now I think when people say, “Wow, I don't want a token max,” it's an artifact of us not having thought ourselves as an industry that we are using tokens to create value every step of the way. So I think that's kind of what I wish we had gotten there, but I'm glad we are here.Real-World Value & Use CasesSarah Guo: What are some of the use cases that you've seen that have created the most value for your customers?Because I know that people talk a lot about code, and I think it's pretty clear that that's something that's having very large scale impact. Are there other areas that you find in common that your customers are really benefiting from? Yeah. I think, yeah, to your point, obviously coding is now got... But it's interesting, by the way, Elijah, to even talk about the coding, right?Satya Nadella: Which is coding has worked so well that we now have to rebuild the IDE, right? I mean, it's kind of nuts to see what we sh- launched is like, oh my God, I have these hundred agent sessions. I... The cognitive load it transfers back to me as a human is so [00:07:00] excessive that now I need a new UI. Uh, oh, by the way, I, like the, the chat as the only artifact was also impossible, so that's why we need a canvas.So it's kind of interesting for all the things about where is software needed or where is UI needed, uh, you kind of need that even for code, right? In a fully agentic world. But that said, one of the things that we are starting to see, we started seeing with co-work, but even some of the work we, we showed with auto com- uh, um, autopilot Right on what you see with claws is a good one because if you sort of think about a lot of human capital is doing the glue work, right?If you now can augment that with tokens/agents that are long-running, durable, right, then your ability to scale even what is still judgment and glue work gets amplified like coding does. Uh, so you can... Like, I'm positive that six months from now we'll all be saying, “Oh, wow,” like, all through ni- the night there was a bunch of stuff that [00:08:00] all these autopilots that I have working on my behalf with my delegated authority, so to speak, right?I can... Sort of given even my identity, did a bunch of work, then of course I'll need my new ADE to say, “Well, what did you do?” Like, I might... “Did I do this work?” And so on. So I think that that's where compressing of workflows, uh, completing of tasks, uh, that's where I think a lot of the value gets created. I think you raised a really interesting point, which is there's the actual agent that's doing the code, and then there's a harness around it, and that's the environment, that's the context, that's everything you're setting up as a developer around actually a coding agent.The Harness Concept for Enterprise AISarah Guo: What is the harness for the enterprise? Is there an equivalent concept for broader productivity work, or how do you think about that concept sort of generalized? That's right. So, so in some sense you kind of want the harness to define the models, the, the data, uh, and the tools, and so that you have a loop across those three.Satya Nadella: And so what we are trying to, first of all, make sure is each of our products that we build, right, whether it's GitHub Copilot or the security copi- the, the [00:09:00] stuff we showed with MDASH or even the discovery for science, it doesn't matter, all of them are multi-model harnesses, um, with tools access so that you can do this progressive, uh, disclosure of tools even so that they're token efficient.Uh, and then you're feeding it with very rich context because that's sort of the other hard lesson we have learned in the last two years is, oh my God, the amount of work you need to do to prep the context layer, uh, such that your plan can execute in the most efficient way is where the magic is. So we have, in our case, we have the GitHub harness, which essentially we're using across all our products.It's available in Foundry, and we are open, like you can use your Llama harness, whatever. Or you can use the, um, uh, you know, any open harness or any harness of yours and train with your tools and multiple models and your context. And so that's the pitch. Because right now a lot of dialogue is, um, “Hey, if I train the harness plus tools and the model together, you get [00:10:00] evals.”Elad Gil: And what we are proving out is... And the best example of that is what we did with MDASH, right? Because when it launched, uh, it found bugs or vulnerabilities that were not found by Mythos Uh, and so there is existence proof, I would claim, that you can have a multimodal harness, uh, that can in fact be more, uh, performant in the real world So a premise behind the, uh, training at the independent frontier labs is really, you know, we're gonna have these models, and we'll have an API business, and we'll support enterprises and startups.Sarah Guo: ButPlatform Strategy & Developer EcosystemSarah Guo: a first-party product, be it productivity or code or search, drives the majority of revenue. That's a different value equation than you're describing, I think, with the Microsoft ecosystem. Uh, if, if that's the case, tell me if it's the case, uh, ‘cause obviously you have first-party products and you have enablement products.Satya Nadella: Um, what is the role of the develop- Like what is gonna be hard and the set of skills and the value capture the developer has in that world? Yeah. So I think that there's always [00:11:00] gonna be the case that someone who is super successful in- as a platform builder can also have first-party products. It was true with Windows.It is true, uh, with, uh, the, the SaaS side and the cloud side as well with us and others and so on. But the thing that is, is it should not be a limiter to other people achieving that same success, right? That I think is the core difference, which is the, the network effects this time around, around intelligence are such because they learn from data, and not really lots of data.It's just a few samples that you have to see to understand what's novel about something. So that's why the game becomes how to protect. So that's why I would say every company, having private evals may be the biggest IP, right? Think about it, like what's that private eval that you can then use even a frontier model to hill climb on and not leak the traces may be one of the biggest [00:12:00] drivers, uh, of IP.Like, so in other words, another te- acid test is you have an eval that's private. You're using, uh, a g- a Model A. Can you switch it to Model B and e- you know, climb up? If you can, then you're in control. If you can't, you're not in control, and that's where even the harness decision becomes super important, right?swyx So therefore, having an open harness, letting all models come in, having your evals, your context, your tools help you hill climb, I think is the skills that an AI native startup needs, a SaaS company needs, or every enterprise needs. Yeah, I think in, in a very real way you are ... Microsoft historically is an operating systems company and th- then become a cloud company.Maybe like the third act is that you're a harness or evals company. Whatever w- ... whatever the, the sort of conglomerate of concepts that you wanna put together. Um, and, and I think like enabling every company to have like frontier intelligence or what- what- Yeah ... I forget the, the [00:13:00] exact term that you used, um, is the, is the mission, right?Satya Nadella: That's it. Like that is, that is the platform promise, that you build with us, you will get your intelligence, uh, for your data. That's it. That ... To, to me, that is the ... Like if there was one tagline, uh, for this entire developer conference is- Can everybody operate at the frontier with their frontier intelligence, right?To me, that is so important because otherwise it, I, I don't know how you achieve stable equilibrium, right? Which is how do I then go and say, “Well, my company is gonna have a terminal value because I now know how to continuously compound-” Yeah ... on top of what's a platform that gets better,” right? So when, like Windows obviously came out, Adobe built, Autodesk built, uh, or even like take what Jensen said.We built DX and he built, you know, CUDA on top of it. Um, right? I mean, I always say to Jensen, “God, I got the short end of that,” right? “I wish, uh, we had recognized it.” But nevertheless, but that, that idea that you can build a platform layer [00:14:00] that someone else can then extend out, um, and build their own intelligence layer in this case, I think is everything, right?Without it, why have a developer conference? I can just come and have you all sort of just worship at the altar of one model. Yeah. But that's not a developer conference. Uh,IP, Evals & Company Valueswyx: backstage we, we had a discussion about what is IP or what is the, the value in a company. It used to be the length of, uh, human experience at a company, and now it's this other thing which is the evals, the, uh, experience in sort of applying agents to the company. Can you... I just want you to like flesh that out a bit more ‘cause- Yeah ... it was very insightful.Satya Nadella: It's a great way to frame it, right? Because yeah, at the end of the day, every company is gonna have both the human capital that is still gonna be super valuable, uh, because humans, uh, and their ability to find the gaps that exist at all times is going to be the way we all will create value, right?I mean, so I'm definitely in the camp that this is going to be about expressing new forms of human agency and ambition even as token capital goes up, right? So let's say a cor- any corporation [00:15:00] has lots of tokens and lot of human capital. The question is how do you compound the two? So if you have a... Like if you take in Teams I have a bunch of agents doing work and a bunch of humans doing work, and the traces between those, that is really important context of how that enterprise is creating value.Then that goes back to train not a generalist model, but to train the company veteran agent, uh, right? That is super valuable again, right? Which is when a company goes says, “It should in fact go onto the balance sheet,” is how I think about it, right? That's so... In fact, there may be... Like human capital was never possible to go put on a balance sheet, uh, because you didn't know how to capture the tacit knowledge.swyx: Whereas now I think you can with the agents that have learned through the h- through, through time, through all the traces. Uh, so that's what at least we think will happen. I, I think the SEC is gonna have to have accounting standards- ... for token, uh, expertise Uh, y- y- you're talking about the equilibrium [00:16:00] state, um, and a stable equilibrium where companies have this compounding value and can see terminal value for themselves.Future of SaaS & Business ModelsSarah Guo: Another challenge to, you know, the considered equilibrium of, okay, there are applications and workflows that are sort of common to a vertical or a horizontal. Um, and this was, like, the generation of SaaS companies and, you know, Microsoft has lots of SaaS properties as well. And then there are things that are very specific to every enterprise that they're differentiated against.Elad Gil: Um, I'm sure you have heard much and participate in much of the debate about the end of software because all these workflows are, are cheap to generate now. Um, do you think the equilibrium looks different between what agents get built- Yeah ... in enterprises versus in their vendors in the future? Yeah. So I think what's happening there is, see, we, we had a particular way we captured, um, I would say workflow in apps, right?Satya Nadella: Because we built a, a data model, right? We schematized some part of some business process. Mm-hmm. We then built a bunch of business logic. Yep. And then we put a bunch of UI [00:17:00] on top of it, right? So that's kind of what every SaaS company- And a little configuration. For, like, 20, 20 years that was the plan.Right, that- Yeah ... and that was it. So interestingly enough, now you kind of get to re-litigate that vertical stacking, right? So I still think, for example, that data model that you built underneath every SaaS application is super good, right? Like, why reinvent it? Like, I, I, my general ledger better be a general ledger.I don't need new schema creation. No. Uh, in fact, that entity relationship, uh, is actually pretty good, robust thing that I want to feed. And you want it to be stable. That's right. Yeah. Then same thing with business logic, right? If, if you look at, uh... We have this product called Power BI, right? It is like dashboards galore people created.The beauty underneath that dashboard is a very rich semantic model, right? Someone took the pain to create a dashboard and do all the measures, and you want that. That's business logic, right? I want that to be available to me. So I think the [00:18:00] challenge of the SaaS business model is we packaged one way. We now have to learn how to unbundle these things and rebundle in new ways and discover new business models, right?I mean, if you look at it, d- what's happening today with Microsoft 365 is a great example, right? We have this thing called Work IQ. In fact, like, what we are realizing is, oh my God, like, you know, if you look at... In fact, there's a pa- historical parallel too, right? We sold first Exchange and SharePoint and, uh, you know, before Teams, we had a thing called Lync Server and what have you, and we thought, “Oh, that's all gonna move to the cloud.”But little did we realize that, um, the number of people who will use servers in the cloud is 10X, 100X, right? Because people were not buying servers, they were just buying a subscription. Mm-hmm. The same thing is now happening with M365 because with Work IQ, we have exposed what is perhaps the most important database in a company that never got used as a database because it was only captive to our apps.Mm-hmm. Right? It, it was all email operated on it, Teams operated [00:19:00] on it, Word, Excel, PowerPoint, SharePoint. But now, like this is one of the coo- coolest things I get to do with Work IQ. I go to a GitHub repo and I say, “Hey, I attended a bunch of design meetings last week related to this repo. Can you capture all that and tell me what changes I should make?”I mean, think about that, right? It literally can go look at all those transcripts, come back with a plan to change a code base, right? Previously, you could never have thought of using M365 for something like that. So the value creation opportunity now in the agent world is in fact 10X more, but it does require us to have...Sarah Guo: For example, there's going to be usage around M365, right? Which is going to be perhaps more than even the e- end users and we have to even re-architect. Like, in fact, like what I use to serve an inbox or a mailbox cannot be used to serve an agent. Uh, and so that's sort of what we are doing.Pricing Models: Per-User, Consumption & OutcomesSarah Guo: I don't believe in, like, permanent business models for any of these domains, but in the [00:20:00] near term, do you have a prediction between, uh, you know, outcomes-based pricing, token-based pricing?Elad Gil: Enterprise bundles Yeah. The way I- I think about this is always we've had... Like, let's even take the per-user pricing. Mm-hmm. The per-user pricing is really an artifact of someone creating a budget needing certainty, right? Because it's the most important thing. Like, somebody wants a budget- Mm-hmm ... they need a per user.Satya Nadella: And, and per user is just a set of entitlements to usage, right? That's kind of what it is. And so the way is, if the first bundling will be take some usage, bundle it into per user stacks and, you know, then sell subscriptions. So subscriptions I think are gonna be there, per user is gonna be there. Then the next big thing will be consumption.So people will say, “I want consumption.” And it's also possible that people will say, “I don't even want to pay for any of the subscriptions or the consumption's outcome.” Mm. But remember, most people love outcomes until they have an outcome, because once you have an outcome, it's like giving away royalty, [00:21:00] right?Mm. I mean, like I, I've talked to customers who love, you know, outcome-based pricing, and I say, “I'm all in,” until they, “Oh my God,” like, “what are you talking about? You're sharing in my outcome? No, no, no. I want you to go back to per-user pricing, and I want you to consumption price,” right? So I think that debate will go on.Uh, but and all, all, all of these business models have a particular time and a place versus one to rule them all. And if anything, if you're a SaaS vendor or you're a platform vendor, having that flexibility... And quite frankly, we face this with GitHub, right? We just recently announced a per-user pricing on GitHub because little, you know, we- GitHub Copilot was constructed at a per-user level before we understood even, uh, the intensity of usage of agents, right?It was an interactive way for a developer to use code complete, maybe tasks. It was not like, oh, I launched 10,000, you know, agents that are going on all day, right? So that is what the adjustment is about. So now that we really want, there will [00:22:00] always be a per user, but there will have to be a consumption meter.Durability of SaaS & Build vs BuySarah Guo: How do you think about the durability of SaaS more generally? One thing I've observed is in a lot of enterprises internally, there will be teams that almost have agent euphoria. They're so excited about the explosion of things they can build that they're trying to rebuild a lot of applications or going to their SaaS vendors and saying, “We're not gonna work with you anymore,” or, “We're considering an internal project.”And it seems like in six to nine months, maybe some of those people will come back and say, “Actually, we, we can't rebuild everything.” How do you think about what's durable in this world and what isn't? Yeah, it's a... It... I think we have to go through one full budget cycle on this to really see the, um- Uh, the sort of the emergence of the equilibrium, because at the end of the day, there's marginal cost to even generating the app, right?Elad Gil: In, in fact, there can be even a, a simple way to say it, like if you should always acquire something if the marginal cost of building and maintaining, uh, something on your own is higher. Uh, right? That should be like it's a quantifiable- Yeah. Right? A quantifiable thing. And [00:23:00] the maintenance part is important, right?Even, like you got to remember like, hey, you know, all the security stuff that now AI will find, you better fix them too fast. Uh, of course, there's a coding agent to help you with, but then that burns tokens, right? So whose responsibility is it? It's kind of like a, a cycle that you've got to think through.And I think we have gone through the excitement that I can generate a lot of software. I think the next thing would be what software do I really want to generate? Mm-hmm. What software do I want to use from others? How do I compose these two into some agentic workflow that I have agency over, right?Sarah Guo: Because I think there'll be very little tolerance for anybody who's inflexible, uh, at the vendor level. Uh, but at the same time, I think that anyone who has got that flexibility shows up, delivers the value, will be back at again, right? We're selling software, uh, but with just different business models, in fact Uh, speaking about building software, um, one of my favorite moments from, I think, a previous build maybe one or two years ago was they had a b- they, they...Swyx: There was a section of you building your [00:24:00] own software. I'm curious if you're building anything now. Yeah. So I, I think the... You know, first of all, let's face it, right? Building software has made it possible for even the incompetence of a CEO of a company- ... like ours, uh, you can build, so thank God. But that said, I, I, I, I do feel that, you know, something like, um, GitHub Copilot to me, and especially the new Sessions app or the new app, has just made it so much more possible for you to have agency over artifacts that you felt you couldn't touch before, right?Satya Nadella: So to, for me as a CEO, even to go to a code base, uh, to be able to learn about it, like I remember joining Microsoft long back, you know, first and then you say, man, everybody had to go in and look at, you know, whatever, Cutler's, Malik, or what have you to learn how to do good C, uh, C++ code. Um, so now that ability to be more full stack up and down is so good, but that doesn't mean every one of us should be doing the same thing.The question is: [00:25:00] how do you then have the ability to inspect things, learn things, see things, um, I think is just so much more. And so to me, what I'm building a lot of is these long-running Foundry agents. Uh, right? So there's autopilots. So the easiest thing is, to me, I think I just built one, uh, even last week, where the idea was, hey, can I have an agent that is continuously monitoring essentially my own chief of staff autopilot, right?We're gonna have that obviously in, uh, Scout. That's what, uh, uh, we showed. But it is so easy and trivial to build. I took Work IQ. I said, “Take Work IQ, go, uh, and build a Foundry long-running agent.” Uh, store all the memory in, um, uh, using Ray Fin, right? Basically at my backend as a service. And lo and behold, it built it, and not only built it, I could say publish to Teams, and it published the damn thing to Teams.Sarah Guo: So the ability, uh, to have a, you know, some end-to-end project like this complete is just pretty [00:26:00] miraculous. How do you think, uh,Future Engineering RolesSarah Guo: that impacts the different types of engineering roles that exist in the future? Because right now I think there's, you know, a dozen different types of engineers that you can be, from QA, front end, et cetera.You know, there's a big swath. I've heard some people argue that in four or five years we'll basically end up with four engineering roles. It'll be people who are managing agents, it'll be four deployed engineers or FDEs, it'll be security engineers, and then people working on large scale infrastructure for a small number of services, and then everything else just collapses into the agentic world.Satya Nadella: Yeah, I- Do you think that's a correct view of the world? Yeah, I mean, I think, I think we'll have to experiment our way through it. But what you said is what... There are some very at scale things. At LinkedIn, they did structurally change- Mm-hmm ... uh, and it, you know, basically built up a new discipline called full stack builder, right?So they went and said, “Hey, let's bring, uh, people from design and product management, front end engineering, all put them together.” Uh, but also have an edge, right? It's not like the design person still doesn't have the design edge, or the front end [00:27:00] person doesn't have the front end edge, but you can give yourself bigger scope in roles so that you're not confined to one role.Um, and then r- equally, infrastructure has become very critical, right? So in other words, like, I mean, RLEs, I mean, one thing we've realized is even for the Excel team, for example. Mm-hmm. Building the RLE in which a reward can be learned is actually one of the hardest sort of infrastructure problems.Mm-hmm. Uh, and so you kind of need even new talent, right? Distributed systems people even in what was considered an end user app team, uh, because it's a different skill set. So yes, infrastructure, science is the other one, obviously. Um, so I think we'll see how these evolve, right? Where's the s- real... I mean, always the world will have a bunch of specialists.Okay. Um, you know, I think the generalist role is going to be the most exciting, right? Because the leverage of a generalist- Mm-hmm ... um, is where we are going to see the maximum returns, right? When, when you said, “Hey, are you coding?” I'm now a gen- Like, what... I've basically translated [00:28:00] knowledge work Right?Which I did, where I created a Word document or a spreadsheet, or even, uh... And now I can build an app, right? It's in the same sentence. Uh, right? That idea that, “Oh, wow, my generalist skills have gotten higher leverage,” I think is what we're gonna see across the board. Music to the ears of CEOs and VCs that are, like, a little dangerous and a lot of- Golden age for idea peopleSarah Guo: idea people. Yeah. Uh- With a lot of agency. I- if you take that idea of personal agency and you just zoom it out to the organizational context, um, uh, my partner Mike Renall, who, uh, actually started his career at Microsoft, just wrote an essay where one of the big takeaways is i- it's an age where you can be much more ambitious, and you need to be, given the pace of the environment and how quickly, actually, users and companies are open to adopting new technologies.Satya Nadella: Um, how do you think about... I, I feel silly asking this of somebody running a, you know, trillion-dollar-plus company already, butAmbition & Making the Impossible PossibleSatya Nadella: how do you think about how Microsoft can be more ambitious now? It's a great question. Um, I [00:29:00] think, um- I think the, the thing in these type of transitions is to have a conceptual model of how work can change to go after outcomes that you could hardly imagine previously, right?In fact, Kevin Scott has this nice line, right, which is, um, when you can make the impossible... Like, when you're making hard things easier, that's sort of one point of leverage. But true ambition is about making the impossible possible. So now the thing that is missing a little bit in all of our organizations is what is that new conceptual model of what can we build?What was impossible and what can we build? And I'll give you one example of this, right, which is I take great inspiration from sort of the people who were managing the Azure net- network. And they came to the... This was from even last year. You know, we were scaling. You saw that I, I [00:30:00] talked about sort of how we built in the last 15 months more Azure capacity than we built in the first 15 years.I mean, it's crazy. Wild. Yeah. Right? It's pretty wild. And it's the same team. So they saw that and they said, “Bob, this just ain't gonna work if we don't reconceptualize our work.” So they built... Essentially they said, “Our job is not to do Azure networking. Our job is to build the agentic system does, that, that does Azure networking,” right?These are the folks managing the 500-plus fiber operators managing the VAN, right, all over. And fiber operations ultimately is a physical operation. Things get cut, things get, uh, you know, have to be repaired. You know, we have fancy words called DevOps and so on. Basically, emails are coming in and you gotta go respond to them, take care of it.So they built this agentic system. They even have a character for it. It's called Miles, and it sort of does all this stuff, right? They started sort of screaming for more tokens and so on. And so they were saying, “Look, uh, we don't need a headcount. We need tokens in order to be able to [00:31:00] manage, uh, our operation.”That reconceptualization- Mm-hmm ... of what their work is, right? They, they basically took their work and made it meta, right? That meta work is now their new work. Mm-hmm. Right? In the ‘80s, if somebody had come to us and said, “4 billion people are gonna get up in the morning and start typing,” my model would've been, we need 4 billion typists?But we're not doing typing, we're doing knowledge work. So that, to me, I think is it, right, which is whether it's Microsoft or whether it's any organization, is to give ourselves permission to do new types of metacognition, meta work, using these new tools to change the outputs that matter, uh, and then really make the impossible possible.Sarah Guo: So completing that dot or the, the connective tissue across those, I think, is where a lot of the enterprise value will get created.Data Center Build-Out & Community ImpactSarah Guo: Should we talk about data centers? Yeah, please ask. Oh, okay. Well, uh, uh, w- we-- this leads nicely into the data center build-up. I always think, I- I just-- I'm just impressed at the sheer scale of the [00:32:00] build-out from Microsoft, but also everyone else, that this is redefining what it means to be a hyperscaler.And I just feel like that, that, that is at unprecedented scale on finances, uh, on the way you run the company, but also the communities that are, that are impacted. Um, yeah, just talk a bit more about what you're seeing on the ground, like when you visit your- Yeah, I think there are two aspects of it.Satya Nadella: Obviously, the, the build-out is, uh, extraordinary. Um, you know, nothing like this has happened, and it's great to be, uh, one of the participants in it. Uh, but you brought up the other part, right? I think at this point it's clear that unless we as an industry, uh, are very principled about ensuring that the benefits of all the stuff we're talking about are felt in real ways, uh, at the community level, right?Because this is not just a, a campaign, um, right? It has to be real, where people are saying, “Look, this is not ch- changing the prices on energy for me.” In fact, if anything, it's bringing down prices because long term there's going to be a better [00:33:00] grid, there is going to be more energy. Water consumption is, in fact, not sort of, uh...In fact, water is being replenished, right? You gotta really, you know, educate folks on truly what's happening, the cl- uh, the closed loop systems we are building. We have to invest in the training, the jobs, the tax base. In fact, the least talked about stuff is the amount of jobs that get created during construction, after construction.What's the tax base that's there in the community? And, and all this has to be real. Um, and, and if that is the case, then we will have permission. If it is not, we won't have permission. It's as simple as that, right? Which is, uh, we, we... I think we have to take it as an industry pretty seriously. Uh, I think it's good for communities to be skeptical, ask the hard questions, for us to do the hard work, earn that.Um, but at the end of the day, if there's-- if we can really be the produ-- Wait. I've always felt like in human history, if you use a lot of energy but also create a lot of value for society- The story has been fantastic. If you don't [00:34:00] do that, it's not been that great. And this time around, I'm a firm believer that ultimately if you do have a token economy that drives productivity, that drives economic growth, that drives broad spread, um, you know, participation, better health outcomes, um, then I think we'll be in a great place.Sarah Guo: Uh, and that's at least what we all have to be focused on. Yeah. It, it makes me think actually that with all these initiatives that you're doing, might be e- easier to see ROI in the communities first before in enterprise. Yeah. I, I mean, I think both sides. Yeah. In fact, it comes back together. It has to be the people in the communities are going to be employed, are going to be participants, uh, in the real economy, right?Satya Nadella: That's I think the question is. Like, if we- if the broad economy is doing well and the communities are doing well, the dots get connected. It's sort of the market forces are such that we will connect the dots. And that I think is it. Like, you ought to be able to see the evidence. You can't be about o- any one company, uh, but it has to be broad economic growth and broad [00:35:00] ec- you know, community permission.Elad Gil: Yeah. I guess I wanna talk aboutSocietal Impact & Optimism About AIElad Gil: what you're most optimistic about currently or what have you most updated your personal models on regarding societal impact of AI? So you're saying what's the, the, the- What have you updated most on in terms of societal impact of AI? Yeah. I think the, um, the p- the most, um- Critical thing is the first question we even started with, which is we need to tell the story and make it real that everybody has a real shot to participate as a first-class participant in this new economy.Satya Nadella: Right? That's kind of, I think we- in the next 12 months, 18 months, we need a way for people to say, “Oh, wow, I get it.” Right? There's going to be tremendous capability, tremendous amount of infrastructure, but I can see what is going to happen, whether it's the benefits like health outcomes or my ability to create a startup or my ability to run my [00:36:00] local sort of, uh, store more efficiently.It's just happening, and I see that, uh, benefit myself, right? That to me, you know, earning that permission in a path-dependent way, we can't wait. See, the one thing, Eli, that I've now learned is I think the world is gonna be very skeptical of tech and tech companies that say, “Trust us, we've got it. The g- future is gonna be glorious.”Sarah Guo: Uh, you kind of have to deliver tangible benefits. Um, and quite frankly, politicians winning elections, uh, because they have advocated for that. That will be at least my adjustment because without it, um, thinking that somehow... Because it's too important this time around. It's too much of the economy for it not to be the case So one very simple framework I have for, you know, what are, what is gonna be the broad benefit of AI, um, beyond the communities just working in technology, are, are sort of wealth creation- Yepit's [00:37:00] gonna happen in a ton of different companies, startups and large companies. Then you have healthcare. Uh, you, you had amazing demos today. There are companies like Open Evidence. I think that is happening. Um,Education & Future of LearningSarah Guo: education seems like another one that's an- Yep ... obvious good where we haven't seen as much impact as I'd expect.Swyx: Do you have a hypothesis on why that might be, or if it'll come? Yeah, I mean, I think this is where, again, how we think about education, how... You know, recently I met with, uh, the founders of Alpha School and learnt a lot about what they were going and going about, and it's fascinating to listen, uh, to how to even rethink- MmSatya Nadella: uh, what does education really look like. Because I think it's actually very important. Mm. Uh, and I'm not saying anything traditionally being done is less important, right? I was even looking at the, uh... It's fascinating to see. I, I, I forget the which Stanford class it was, uh, the, the Asian guidelines for CS something.Mm. Uh, because you still need people to learn. Uh, like it was an interesting AI class that they were making sure people were learning how to apply softmax appropriately versus saying, “Hey, fix my training run.” Mm-hmm. Uh, so I think learning concepts is important. It's going to [00:38:00] be, uh, critical. But the way we create the incentives, what are the credentials, how we value those credentials, what is the employment opportunity for those credentials?So I think that there's a complete change that has to happen, uh, given the way to get to information, way to educate yourself, way to continuously keep yourself updated has changed so much. So I think interestingly enough, maybe the next big startup and success story could be someone who builds a new university, um, or a new, um, pedagogy even of how to get someone to go through a curriculum and find economic opportunity, uh, that's highly valuable.Well, that has felt, uh, perhaps impossible for a long time, but it's a great note to end on and something that might be possible. It's still possible. Yeah. Thank you, Satya. Thank you so much. Thank you. Yeah. I appreciate it. Thank you all. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.latent.space/subscribe

Elon Musk is hated, right? And he's about to make his current wealth look like he's been a derelict.$1.75T filing. He will easily crest the $T net worth.Are you listening to me when I give you stock tips? The Dow.Stocks in Raytheon, Lockheed Martin, and others.My next play is energy stocks. Look, I'm no Pelosi, but if you sent me 10% of what you earned, I could buy a house cash.You worried about Iran? Not a lot of talk about it in the news.[X] SB – Woman asked how many genders[X] SB – Abby Phillip on ICE raids[X] SB – Talarico well-rehearsedSure. Iran broke the ceasefire, and Trump is as cool as can be. Talk about disturbing to the Left.How can he be so cool as they try to propagandize the war? What does he know that they don't?"In 2024, almost 50% of inmates in German prisons were foreign nationals or migrants.. In Switzerland, it's 72%.. When your prisons are filled with so-called asylum-seekers who repaid kindness with crime, it's time to END the failed experiment of Open Borders."Billionaire Mark Cuban asks why insurance companies pay $2,500 for an MRI when 'a center down the street' charges $350https://x.com/patrickbetdavid/status/2061197275385282830Biden: ONLY $4m (goal was $200m to $300m) Obama: $1.5B to $1.6B George W. Bush: $500m + Clinton: $165m George H.W. Bush: $43m Reagan: $57-$60m Carter: $26m (In 1981)See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Meta has overtaken Google in ad budgets - and for ecommerce advertisers, that changes everything.It means Google is on the offensive. It means the pressure to split your budget between platforms is about to intensify. And it means that if you're not set up correctly on Google's AI surfaces right now, you're already losing ground to competitors who are.In this episode of Growing Ecommerce, Mike Ryan (smec's Head of Ecommerce Insights) and Chris share firsthand takeaways from GML 2026 — both the San Francisco and Dublin events — with unfiltered takes on what actually matters for your campaigns.What we cover:→ Google vs. Meta: The "War of the Titans" and why Google's messaging to advertisers is getting aggressive→ AI Max for Shopping: Why standard shopping campaigns may have limited eligibility in AI surfaces→ New AI-native ad formats: Conversational discovery ads, feed-based text ads, and why the line between shopping and search is collapsing→ Ask Advisor: A great idea — but oversold to an irresponsible degree (Mike's take)→ Universal Cart: Multi-retailer, cross-platform checkout — and Google's Amazon moment→ What the shift to agentic commerce means for how you monetize clicksCut through the hype. Know what to act on.

Aaron Levie, co-founder and CEO of Box, returns to the MAD Podcast with the clearest read in tech on what AI is actually doing inside the world's largest enterprises right now - not the hype version, the real one. After hundreds of Fortune 500 CIO conversations this year, Aaron explains why we're still in "day one" of the agent era, why one badly written agent run can now cost $1,000 in compute, and why progress at the AI labs is paradoxically slowing enterprise deployment. We get into the token cost shock now reshaping IT budgets, why coding agents have reached escape velocity while the rest of knowledge work hasn't, the rise of headless software and what replaces per-seat pricing, the emergence of the forward-deployed engineer as the hottest job in tech, why Aaron thinks the AI doomers are wrong about jobs, and where startups can still win as the labs move up the stack. (00:00) Intro(01:18) Silicon Valley engineering vs. everyone else(05:35) Are enterprise CIOs actually bullish on AI?(08:51) Tokenmaxxing & why your AI bill is about to explode(11:34) The myth of falling token costs and AI spend escaping IT budgets(17:37) The $5B startup hiding in AI compute(18:14) The mosaic of models inside every enterprise(21:28) Why coding works and the rest of knowledge work doesn't(25:53) The Bob and Sally problem: access control breaks agents(30:31) Will enterprise AI really take 10 years to roll out?(32:24) The capability overhang: why faster models slow diffusion(34:23) Data is the bottleneck (it always was)(39:02) The rise of internal forward-deployed engineers(41:23) Why the AI doomers are wrong about jobs(43:43) Headless software is inevitable(46:14) What replaces per-seat pricing(47:37) How Box itself is going headless(49:42) How the org chart actually evolves(1:00:33) Future-proofing yourself as an enterprise employee(1:06:40) Are we all just going to work for OpenAI and Anthropic?(1:07:11) Where startups can still win as the labs move up

Google just dropped a PMax special — and there's a lot to unpack.In this episode of Growing Ecommerce, Mike Ryan and Chris break down three major updates reshaping how ecommerce advertisers run Performance Max and Shopping campaigns in 2025:1. Network exclusions for PMax: You can now opt out of Search Partner Network AND Google Display Network directly inside PMax. Years in the making, and a massive lever for both performance and brand safety. We walk through why it matters, when to use it, and how to check your own data first.2. Shopping Performance View: A new level of product-level reporting coming to PMax and Demand Gen campaigns via the Google Ads API. See performance by brand, category, product type, and item ID — the same parity you get in standard Shopping. Huge for anyone who's tried and failed to understand feed performance inside Max.3. AI Max for Shopping: The biggest one. Google is rolling out an optional AI layer for standard Shopping campaigns with three features:- Text customization: Google rewrites your product titles dynamically per query- Final URL expansion (FUE): Google picks landing pages from your site — including category pages- Optimal format selection: Text ads can now appear inside your Shopping campaignsWe discuss what this means for advertisers who run standard Shopping for control, whether there's real redundancy with Search and PMax, the campaign overlap and CPC escalation risk, and why Mike thinks this is actually bigger than AI Max for Search.Standard Shopping: confirmed not dead. Google is investing in it.Growing Ecommerce is brought to you by smarter ecommerce (smec) — helping online retailers optimize paid search through AI-powered software and human PPC expertise.#PerformanceMax #PMax #GoogleShopping #AIMaxForShopping #GoogleAds #EcommerceMarketing #PPC #SearchPartnerNetwork #GoogleAdsUpdates #PaidSearchAbout Smarter Ecommerce (smec):Smarter Ecommerce (smec) empowers e-commerce brands with AI-driven PPC automation that optimizes for profit and business outcomes while maintaining strategic control.The platform activates first-party data - profit margins, customer lifetime value, and key business metrics - to automate campaign optimization toward goals like profitability and efficient growth, while detailed campaign insights provide full transparency and enable PPC teams to focus on strategic oversight rather than manual execution.As a Google Premier Partner and three-time Microsoft Retail Partner of the Year, smec manages over €500 million in ad spend and drives €5B+ in annual e-commerce revenue for 350+ global retail clients including THG, Snipes, REWE, and Intersport.Make sure to follow smec - Smarter Ecommerce for more performance marketing insights:smec - Smarter Ecommerce: https://www.smarter-ecommerce.comLinkedIn: https://linkedin.com/company/smarter-ecommerce-gmbhNewsletter: https://smarter-ecommerce.com/en/newsletter/Instagram: https://www.instagram.com/smarterecommerce/

Guy Adami and Dan Nathan discuss an S&P 500 pressing all-time highs amid sticky inflation, a 10-year yield around the mid-4% range, and low near-term volatility despite an upcoming Fed meeting and PCE data. They review mixed retail signals (strength at higher-end brands versus Walmart's margin pressure and a strained lower-end consumer), debate the market's resilience, and focus on AI: Nvidia's explosive growth and concerns that soaring usage-based AI costs could challenge the “sanctity” of big-tech CapEx, alongside critiques of Meta layoffs and skepticism about SaaS firms overpromising AI. Guy then interviews Darrell Crate of Easterly, who outlines structural volatility, demographic-driven retirement needs, and hedged equity demand, argues small caps benefit from innovation, and describes Easterly Government Properties as a mission-critical government-lease REIT with an 8% dividend, no canceled leases, a $1.5B pipeline, and potential tailwinds from government efficiency initiatives and GSA changes. —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

For this week's ep of my podcast Apt. 5B we're chopping it about if certain MC's lived...what would the game look like? If BIG lived, is Jay Z the Jay Z we know now? If Pac lived does he squash the East Coast/West Coast beef which mean BIG doesn't get murdered? If Nipsey lived, do we see more MC's investing into their neighborhoods?Just another DOOOOOOOOOPE ep y'all and don't forget to subscribe to our YouTube page and check us out wherever you listen to your fave podcasts at!@Kil889 www.willmakebeatsforfood.com

Wade Foster, CEO & Co-Founder of Zapier, reveals how a $5B company transformed overnight when GPT-4 launched. Learn his "Code Red" strategy, AI adoption secrets, and why the future of software belongs to AI agents. When GPT-4 launched, Wade Foster didn't wait. He called a code red. In this conversation, he shares exactly how Zapier went from 10% to 97% company-wide AI adoption in months, why he focuses on building "AI fluency" over quick wins, and what he believes every CEO needs to know about the AI-driven future. We cover: - The "Code Red" moment: Why and how Zapier decided to transform everything - From 10% to 97%: The real drivers behind achieving company-wide AI adoption - The AI Fluency Rubric: Building institutional AI capability vs. tactical AI use - The future of software: Why agents (not humans) will write and use software - The 3% that didn't adopt: Why some teams resist and how to bring them along - Advice for late-moving CEOs: What to do if you haven't started yet - Buzzwords Wade would ban from meetings - Why "context" and "agent" are overloaded terms in AI discussions TIMESTAMPS: 00:00 - Intro 02:08 - How calling Code Red transformed the company 03:02 - The immediate impact: From 10% to 50% AI adoption 05:09 - Building the AI Fluency Rubric and institutional change 07:18 - How Zapier achieved 97% adoption (and what about the 3%?) 09:08 - The difference between adoption vs. sustained usage 12:37 - Making employees retry AI tools even when first attempts failed 15:59 - Infrastructure for embedding AI into workflows 19:25 - The future of software: Agents as creators and users 31:58 - What will Zapier look like in 3 years? Agent-native platforms 34:04 - Setting up governance for AI agents to write code safely 39:17 - What beliefs about AI building today won't make sense by 2028? 42:02 - Buzzwords Wade wants to ban from AI conversations 43:18 - Final advice for CEOs who feel they're late to AI KEY INSIGHTS: - The quality gap between GPT-3.5 and GPT-4 was so vast it rewritten everything for Zapier - A company-wide hackathon forced everyone to play with AI (80%+ participation was key) - Building the muscle for AI adoption matters even when the initial output isn't directly used - Entrenched workflows and quality concerns are the biggest blockers to adoption - Support and encouragement to "try again in 3 months" is critical - The shift isn't just more software, it's that agents will write that software - Governance and guardrails for agents are the new infrastructure CEOs need to set up - AI maximalism paired with realistic change management is the winning approach PERFECT FOR: - Product leaders and GTM professionals navigating AI transformation - CEOs and C-suite executives feeling pressure to move faster on AI - Engineering leaders building AI-fluent organizations - SaaS founders and entrepreneurs building AI-native products - Anyone curious about how category-defining companies adapt Wade Foster brings the strategic clarity and operational rigor that made Zapier the automation standard. This episode cuts through the AI hype to the real work of transforming organizations. #WadeFoster #Zapier #AI #CEOAdvice #AIAdoption #ArtificialIntelligence #SoftwareDevelopment #ProductStrategy #Automation #AIAgents #Leadership #GPT4 #Technology #BusinessStrategy #GTM ABOUT WADE FOSTER: Wade is the Co-Founder and CEO of Zapier, the #1 automation platform connecting 7000+ apps. He's been building Zapier since 2011 and has grown it into a $5 billion company used by millions of businesses to automate daily workflows. Wade is deeply focused on AI's impact on software development and organizational productivity. DISCLAIMER: This conversation reflects Wade Foster's views and experiences. Viewers should consult their own experts before making strategic or business decisions.

This week, we discuss Google I/O, the OpenAI soap opera, and ChatGPT going full financial advisor. Plus, thoughts on improving the conference hallway track. Watch the YouTube Live Recording of Episode 573 Runner-up Titles Stupid Macs I like my idea What was I thinking? Opt-in AI Kentucky Derby's this Weekend It's a low plateau There's no vibe in X-Code Matt's trading with AI Everyone's watching Rundown Google I/O A new era for AI Search All the news from the Google I/O 2026 Developer keynote I/O 2026: Welcome to the agentic Gemini era AI Stuff Elon Musk lost his case against Sam Altman Greg Brockman Officially Takes Control of OpenAI's Products in Latest Shake-Up OpenAI launches ChatGPT for personal finance, will let you connect bank accounts Anthropic hires OpenAI co-founder Andrej Karpathy, former Tesla AI leader Relevant to your Interests Datacenter NIMBYism: What Did You Think Was Going to Happen? Cerebras raises $5.5B, then stock pops $108%, in the first huge tech IPO of 2026 Andreessen Horowitz Is Spending on Politics Like No Other Cisco announces record revenue and 4,000 layoffs in the same day Amazon ditches Rufus chatbot, launches Alexa shopping agent in AI strategy pivot Open source tool maker Grafana Labs says hackers stole its code, refuses to pay ransom Anthropic has acquired the dev tools startup used by OpenAI, Google, and Cloudflare From Open Source Software to Open Source Strategy CISA Admin Leaked AWS GovCloud Keys on Github Shai-Hulud Returns: npm Worm hits @antv in latest ongoing campaign Intel CEO says foundry business is gaining momentum as customer interest grows Removing the Modem and GPS from my 2024 RAV4 Hybrid Sponsors WebRTC.ventures – Real-time communication & Voice AI integration Sentry - use the code: sdt26 for $100 in Sentry credits for new users Nonsense "solutions architects" in 2026 Conferences WeAreDevelopers Europe, July 8-10, 2026 Berlin, Coté speaking. DevOpsDays Graz, Sept 4-5, 2026 DevOpsDays Rockies, Sept. 22 – 23, 2026, Discount Code: 26DODSWEDEFTALK WeAreDevelopers NA, Sept 23-25, 2026, Discount Code: DEVPOD26 DevOpsDays Dallas, Sept 28-29, 2026 DevOpsDays Vilnius, Sep 30 - Oct 1. 2006 DevOpsDays Istanbul, October 24th, 2026 - Coté keynoting. VMware User Groups (VMUGs): Dallas (June 9-11, 2026) Orlando (October 20-22, 2026) SDT News & Community Join our Slack community Email the show: questions@softwaredefinedtalk.com Free stickers: Email your address to stickers@softwaredefinedtalk.com Follow us on social media: Twitter, Threads, Mastodon, LinkedIn, BlueSky Watch us on: Twitch, YouTube, Instagram, TikTok Book offer: Use code SDT for $20 off "Digital WTF" by Coté Sponsor the show Sponsor more podcasts with Failover Media Recommendations Brandon: Varlock Matt: Sheep Detectives

"Mandating how many AI tokens your engineers burn isn't a productivity metric. It has nothing to do with outcomes."That's Dustin Devan, CEO of Ediphi and it's one of the sharpest takes on the AI spend debate we've had on the showThis week on Bricks, Bucks and Bytes we're joined by Cameron Page of ClearStory, processing $3.5B in change orders every month, and Sophia Millar of Sonnaball Instruments, catching weld defects in real time before they ever reach inspection.Tune in to find out about:✅ Why enterprise AI bills keep rising even as token costs fall✅ How ClearStory is replacing email-and-spreadsheet change order chaos for 7,500 companies✅ Why 1.3 million categorised change orders might be construction's most underrated dataset✅ How acoustic weld detection is transforming prefab quality control

Publicis dropped a bomb on Sunday. By Monday, LinkedIn was on fire. Christian, co-host of the In/organic Podcast pulled together two of the sharpest voices in commerce and media to break down what this deal actually means — beyond the press release.Joining In/Organic for this special episode: Ari Paparo, 20-year ad tech veteran, host of the Marketecture podcast, and author of Yield: How Google Bought, Built and Bullied Its Way to Advertising Dominance — and Peter (PVSB) Bond, co-host of the CPG Guys podcast (closing in on episode 600) and Head of Industry and Client Engagement at Flywheel, the commerce acceleration division of Omnicom.This is the one episode this week you can't skip.What we cover: Is this really an agentic AI story or is that just the packaging? Why LiveRamp's client count is already down from 940 to 800 — and what happens next. Why Omnicom, WPP, and every other holdco is immediately accelerating their own identity builds. The three distinct assets inside LiveRamp and which one actually matters. Why Amazon Marketing Cloud is the elephant in the clean room conversation. What independent agencies and lower middle market ad tech players should actually do in response. And who the M&A targets are for anyone not named Publicis.Timestamps0:00 — Breaking news: Publicis announces plan to acquire LiveRamp1:58 — Deal terms: $2.5B total EV, $2.16B net of cash, 2.8x revenue2:45 — Guest intros: Ari Paparo (Marketecture) and Peter Bond (CPG Guys / Flywheel)4:00 — The backstory: IPG acquired Acxiom in 2018 but deliberately excluded LiveRamp5:30 — Is this an agentic AI story? Ari's honest take7:30 — The agent execution problem: why data rails matter as much as intelligence8:43 — The MCP angle: data as enabler vs. data as action9:32 — Data supremacy and the holdco war — Peter's perspective11:00 — LiveRamp client attrition: 940 → 800 and Horizon already looking to exit11:35 — Auren Hoffman's forlorn X post and what's buried in it12:28 — What does WPP, Omnicom, and every other holdco do now?13:18 — Publicis's track record: Epsilon, Citrus Ad, Sapient — and whether Profiteur was worth it14:55 — Breaking down LiveRamp's three assets: Ramp ID, clean room (Habu), and onboarding16:30 — WPP acquired Infosum. Omnicom has Acxiom/Real ID. Who's missing what?17:38 — Amazon Marketing Cloud owns 75% of retail media ad dollars — what does that leave LiveRamp?19:33 — Benoit from Liquid Death: "Not having a clean room strategy in 2026 is malfeasance"20:35 — What this means for independent agencies and lower middle market ad tech players22:21 — LiveRamp as a natural monopoly — and why competitors now have a real window23:35 — The Flywheel parallel: neutrality ends the moment you're inside a holdco25:48 — M&A targets for the corps dev teams at PMG, Horizon, and the super-independents27:16 — The Trade Desk's UID2: worth billions as a standalone, invisible inside the DSP27:36 — The financial model of holdcos is fundamentally transforming — Peter's closing argument29:12 — Ari's final shout-out: Optimal as the leading independent clean room target

The insurance industry is shifting fast, and this episode of RiskCellar doesn't let a single headline slide. Hosts Brandon Schuh and Nick Hartmann are back in the cellar breaking down three of the most talked-about stories in the industry right now. The Rad Power Bikes wrongful death lawsuit and what it means for micro-mobility product liability, the escalating legal fallout from Howden's alleged broker raid on Brown & Brown, and the accelerating softening of the reinsurance market that's reshaping valuations across the board. Plus a deep dive on the collapse of litigation finance as an asset class, and why that might matter more than anyone's admitting.Brandon brings his front-row seat at the Christensen Group specialty desk to every story, and Nick matches him stride for stride with sharp market observations from the field. The episode covers the wrongful death suit filed by Shannon Stephens against Rad Power Bikes after an e-bike lithium-ion battery fire in an Alabama garage on January 3, 2025, killed her husband, Dr. Keith Stephens. Brandon unpacks the legal complexity of successor liability after Rad Power's bankruptcy, notes that the company's assets were reacquired for roughly $13 million, and questions whether the evidence standard will meet the plaintiff's burden given expert testimony that focused on design containment, not outright defect. The CPSC's intervention requiring UL certification for e-bike batteries is also examined in the context of legacy stock.The second half of the episode is equally dense. Brandon and Nick dissect the Brown & Brown vs. Howden broker raid litigation, including a new Minnesota temporary restraining order barring 16 former Brown & Brown employees now at Howden from soliciting clients or recruiting staff. With $31 million in business allegedly lost and Howden carrying roughly $5 billion in total debt against a $3 billion revenue base, the guys ask tough questions about runway and financial viability. They also explore the quiet implosion of litigation finance as an asset class, Burford Capital's 47% stock drop on a single day after a $16.1 billion Argentina judgment was overturned in a US appeals court being the centerpiece moment, alongside JP Morgan's latest analysis calling for continued reinsurance price softening into 2027. It's a dense, entertaining, and genuinely insightful look at where the market stands right now.Key Takeaways:Rad Power Bikes faces a wrongful death lawsuit tied to a lithium-ion battery thermal runaway event in January 2025Successor liability questions are unresolved, old entity is defunct; assets were acquired for ~$13M in bankruptcyBrown & Brown obtained a Minnesota TRO barring 16 former employees at Howden from soliciting clients or staffBrown & Brown disclosed ~$31M in lost business from the Howden broker raid on a recent earnings callHowden carries approximately $5B in debt against a ~$3B broker revenue base, a tight leverage positionChapters:00:00 Introduction01:55 Banter, Travel & Industry Events09:45 Rad Power Bikes Wrongful Death Lawsuit14:05 E-Bike Battery Safety, CPSC & UL Certification17:25 Brown & Brown vs. Howden, Broker Raid Update20:55 Howden's Debt Load & Financial Runway24:05 Property Rate Softening, Real Numbers from the Field26:40 Deductible Buy-Down Policies & Adverse Selection Risk29:45 Litigation Finance Collapse, Burford Capital & Argentina37:40 JP Morgan: Reinsurance Softening Into 202739:15 Three Truths and a Lie: Space Edition47:00 AI at Insurance Innovators Conference51:25 Data Centers in Space? Cooling Logistics Debate52:45 Wrap-Up & CheersConnect with Risk Cellar:Website: https://www.riskcellar.comBrandon SchuhLinkedIn: https://www.linkedin.com/in/brandon-stephen-schuhInstagram: https://www.instagram.com/schuhpapaFacebook: https://www.facebook.com/profile.php?id=61552710523314Nick HartmannLinkedIn: https://www.linkedin.com/in/nickjhartmann

A bi-weekly news show informing you on the latest in Bitcoin, privacy and open source tech hosted by Ungovernables, Max and Q. AOBAll aboard the vibe trainFTF with Max TQ got some holidays coming upKeonne appealNEWSBisq v1 trade protocol exploit: 11.59 BTC drained, fully reimbursed, hardening shipped in 1.10.0 (bisq.community PSA, Bisq on X, reimbursement plan on GitHub)Disclosed: 2026-05-01Bisq's v1 trade protocol had a missing validation check on taker-side input. Because maker and taker were supposed to use the same miner fee, a malicious taker could push a bad fee value through the transaction math and shrink the multisig output to 0.001 BTC while sweeping the rest into the taker's change. Attacker drained 11.59 BTC from 10 users, all on altcoin trades. Maintainer Henrik Jannsen filed a reimbursement plan on GitHub on May 3, payouts in BTC (with BSQ as optional), DAO vote scheduled around May 25. The hotfix landed as Bisq 1.10.0 on 2026-05-16 with broader hardening: trade protocol checks, network message validation, release verification, supply-chain hardening. The Bisq team explicitly flagged the incident as a likely AI-assisted exploit, though they did not detail how AI was used.Sterlingov Appeal: The Criminalization of Privacy (therage.co)Published: 2026-05-12The appellate court reviewing Roman Sterlingov's Bitcoin Fog conviction openly suggested that mixers remain "legal in theory but not practice" once criminals use them. Judges questioned whether running an internationally accessible service forces compliance with every jurisdiction's licensing regime.Pro-law-enforcement CLARITY Act advances out of Senate Banking (therage.co)Published: 2026-05-15The Digital Asset Market Clarity Act passed committee with expanded surveillance provisions: Bank Secrecy Act integration sixteen times over, new PATRIOT Act special measures. Privacy advocates flagged the breadth of data collection on Americans who haven't done anything.CVE-2024-52911 disclosed in Bitcoin Optech #405, fix has been in Bitcoin Core 29.0+ since release (https://bitcoinops.org/en/newsletters/2026/05/15/)Published: 2026-05-05Use-after-free in parallel script validation between Bitcoin Core 0.14.0 and 28.x. Required attacker-supplied proof-of-work, so practical attack window was narrow, but the bug sat unannounced across many versions.Bitcoin Knots 29.3 enables BIP-110, fork-off countdown started (release notes) + Lopp's countdownPublished: 2026-05-09 (release)Knots 29.3 ships RDTS soft-fork enforcement on by default. Nodes running Knots with this flag set will fork off the network in August unless they change behaviour. Lopp set up a countdown.Bybit exploit post-mortem (Blockstream): enterprise multisig + hardware wallets did not save them (blog.blockstream.com)Published: 2026-05 (week of 5-12)$1.5B drained despite multisig and hardware. Failure was process, not key custody, a UI / signing-flow compromise.Poland passes EU MiCA-aligned crypto bill while Zondacrypto fraud probe deepens (bitcoinmagazine.com)Published: 2026-05-15Polish lawmakers ratified the MiCA framework ahead of the July EU deadline. The vote landed alongside an investigation into Zondacrypto's collapse, roughly $96M of user losses, with Prime Minister Tusk floating possible foreign-influence angles.Claude helps retrieve lost 5BTCX user 'CPRKRN' has Claude check over whole file system and match a wallet file to an old passwordSpiral and Block ship Loupe, an AI-powered vulnerability scanner for open-source Bitcoin (spiralbtc.substack.com)Published: 2026-05-12Uses LLMS to surface security weaknesses in code repositories and requires demonstrable test cases for any vulnerability report so false positives are minimised. Spiral and Block are funding scans themselves; reports go to maintainers confidentially before any public disclosure.RELEASESBitcoin Core 31.0 (release index entry) — 2026-05-12Operator review required before production rollout. Major version landing.Bitcoin Knots v29.3.knots20260508 — 2026-05-09RDTS soft-fork enforcement on by default, fork-off risk in August. New configuration changes, bug fixes.Core Lightning v26.06rc1 — 2026-05-12Adds graceful command for clean shutdown, new sendamount RPC, BOLT12 payer-proof support, plus 211 commits since v26.04.Bitkey App 2026.9.1 — 2026-05-15Security patch from Block.Trezor Suite v26.5.1 — 2026-05-15Legacy labeling migration, WalletConnect insufficient-balance warnings, side-by-side trade comparisons, new DeFi Tokens section.BitBoxApp v4.51.0 — 2026-05-12Bundles BitBox02 firmware v9.26.1, address formatting in 4-char groups, iOS haptic feedback on charts, account-summary perf.Ledger Live Desktop 4.4.0 — 2026-05-13Hardens Live App handling of external-protocol URLs (itms-apps:, ms-word:, file:, etc.) across Chromium navigation vectors.Ledger Live Mobile 4.4.0 — 2026-05-13Adds an addresses section to asset detail screens, device-card management menus with removal confirmations.Bull Bitcoin Mobile v6.10.1 — 2026-05-18Onboarding redirect fix on wallet creation failure.Bull Bitcoin Mobile v6.10.0 — 2026-05-11Major release: Ledger hardware-wallet integration, FSS hybrid storage strategy, real-time WebSocket notifications, new onboarding wizard, Payjoin privacy enhancements, 11 new translations.Bull Bitcoin Mobile v6.9.101-Internal-Release (display name v6.9.108-Internal) — 2026-05-09Pre-6.10.0 testing build, Android migration / startup wizard / secure storage fixes.Bitcoin Safe 2.0.0rc0 — 2026-05-17Comprehensive redesign of the wallet setup wizard, added support for Coldcard mk5 and Trezor 7, plugin architecture via external repos, fiat-balance category column.Sparrow Frigate 1.5.0 — 2026-05-14Low-latency mempool ingestion via Bitcoin Core's ZMQ sequence publisher, auto-discovers the bitcoind ZMQ endpoint when unconfigured. Useful for operators running Sparrow Frigate alongside Core.Blockstream Green iOS release_5.4.0 — 2026-05-11Aggregate fiat balance across all wallet assets, updated Send flow for Lightning, migrates Lightning backend from Breez to Greenlight (Blockstream's own LSP).Blockstream Green Android release_5.4.0 — 2026-05-08Same redesign as iOS: aggregate fiat balance, redesigned Send flow (recipient → asset → account), transaction pagination, also the Breez-to-Greenlight migration.Blockstream Green Desktop 3.3.0 — 2026-05-06Total fiat balance in wallet header, AMP ID exposed in settings, GDK 0.77.3, Qt 6.11.0, Wayland fixes.Peach Bitcoin 0.69.0 (build 346) — 2026-05-06Signature validation for backed-up payment details, encrypts custom refund addresses, removes invalid backed-up data.Peach Bitcoin 0.69.0 (build 345) — 2026-05-05Percentage filtering on offers, encrypted server backup syncing for payment methods, advanced offer-creation options, GrapheneOS camera-permission fix, Buy Offer creation restricted to experienced users.ZEUS v13.0.2-rc3 — 2026-05-18Third RC for 13.0.2. New RGS server at rgs.zeusln.com providing graph updates every 15 minutes instead of every three hours. Clipboard and NFC UX improvements.ZEUS v13.0.1 — 2026-05-07Stable release: fixes recovering Embedded LND wallets from seed (was stalling out), payment retry logic, false-positive offline detection. Cashu token sweeping to self-custody continues to land.Alby Hub v1.22.2 "Marc Horowitz" — 2026-05-11Adds Core Lightning support (their most-requested feature), new AI & Agents page, integrated on-chain wallet mode, custom transaction labels, redesigned settings, improved budget selection for app connections.Boltz Backend 3.13.0 — 2026-05-08Full Arkade swap support, EVM commitment-swap lockup flow, multi-LND support in backend and sidecar.Boltz Client 2.12.0 — 2026-05-12Final removal of the GDK wallet library.Arkade arkd v0.9.5 — 2026-05-11Client-lib wallet interface updates, breaking-changes documentation, single-key wallet signing fixes.Arkade TS SDK v0.4.25 — 2026-05-07Maintenance bump for the Arkade JavaScript SDK.NodeGuard 0.24.2 — 2026-05-14Fixes invoice-expiry calculation in rebalance flows. Check logs if rebalance operations have been timing out.ThunderHub v0.18.3 — 2026-05-15Bug-fix release in the 0.18.x line. (Subsequent 0.18.1-0.18.3 are CI/docker polish after the headline 0.18.0.)ThunderHub v0.18.0 — 2026-05-05Adds Taproot Assets support to the dashboard. The actual show story for ThunderHub this fortnight.Blink Mobile 2.4.44 — 2026-05-06Upgrades protobufjs (CVE-2026-41242 mitigation). Security patch.Fedimint SDK canary release — 2026-05-14React Native transport fix, persistent callback, RPC payload flattening. Canary channel.umbrelOS 1.7.3 — 2026-05-12DirtyFrag security patches: CVE-2026-43284 + CVE-2026-43500 in the Linux kernel. Mandatory.umbrelOS 1.7.2 — 2026-05-05CopyFail patch: CVE-2026-31431 in the Linux kernel. Mandatory.Tails 7.7.3 — 2026-05-12Emergency release: critical Linux kernel CVE fix (kernel 6.12.86 ships the Dirty Frag fix), plus Tor Browser and Tor client security fixes.Whirlpool Observer…

The Musk v. Altman jury unanimously rejected Musk's claims on statute of limitations grounds. Andrej Karpathy joined Anthropic's pre-training team. Polymarket partners with Nasdaq on private company markets, Blackstone and Google form a TPU venture, and KPMG embeds Claude into tax advisory. Musk v. Altman: the jury unanimously rejects Elon Musk's claims against OpenAI and Sam Altman, as he filed them outside of a three-year statute of limitations (CNBC) Andrej Karpathy joins Anthropic to help launch a team focused on using Claude to accelerate pre-training research; he helped found OpenAI and worked at Tesla (Axios) Polymarket partners with Nasdaq to launch markets tied to private company milestones, including IPO timing, valuations, earnings, and secondary market activity (The Block) Blackstone announces a joint venture with Google to create a US company that will offer customers Google TPU access, and makes a $5B initial equity commitment (WSJ) KPMG partners with Anthropic to embed Claude into its tax and advisory platforms; KPMG's tax and legal services unit saw revenue grow ~8% YoY to $9.3B in 2025 (WSJ) Learn more about your ad choices. Visit megaphone.fm/adchoices

The window for government contractors, especially those in defense and space technology, to go public is open again as several listings over the past 12 months show and SpaceX's own offering this year will illustrate. Dave Khalsa, head of mid-cap defense and government technology investment banking at J.P. Morgan, works on transactions of many different types and observes all of them to help companies in the market figure it all out. In starting out this episode, Dave explains what all companies can take away from the handful of initial public offerings over the past 12 months and SpaceX's listing. This is true of whether they plan to go down the IPO path or not. The rest of the conversation between Dave and our Ross Wilkers focuses on how government priorities shape merger-and-acquisition activities by companies under different ownership models, including private equity and venture capital. Public offerings put GovCon in a new spotlight as SpaceX's listing looms HawkEye 360's public offering hauls in $416M AEVEX fetches $320M in IPO proceeds Firefly captures $868M in IPO proceeds York Space Systems raises $629M in public offering Merlin Labs' public offering collects $200M to build an AI autopilot for any aircraft L3Harris to spin off its rocket motor business with the Pentagon as an anchor investor AeroVironment's tech and business blueprints with BlueHalo now in the fold Veritas Capital's ninth fund grows to $15.3B OceanSound Partners hauls in $3.4B for third fund Arlington Capital fetches $6B for its seventh fund Government equity investments open a new frontier for industry Venture investing is part of the M&A conversation too Anduril hauls in $5B for Series H round Shield AI closes $1.5B Series G round and moves on acquisition Saronic wraps up $600M Series C round Sierra Space and Vast detail their Series C investment rounds

THE SECRETS TO DAILY FOLLOWING THE HOLY SPIRIT 1 Thessalonians 5:23–24 May God himself, the God of peace, sanctify you through and through. May your whole spirit, soul and body be kept blameless at the coming of our Lord Jesus Christ. 24 The one who calls you is faithful, and HE WILL DO IT (NIV) Titus 3:5 he saved us, not because of the righteous things we had done, but because of his mercy. He washed away our sins, giving us a new birth and new life THROUGH THE HOLY SPIRIT. (NIV) Galatians 3:3 Are you so foolish? After beginning by means of the Spirit, are you now trying to finish by means of the flesh? (NIV) 6 STEPS TO BEING SPIRIT LED INSTEAD OF FLESH LED Romans 8:14 For all who are led by the Spirit of God are sons of God. (ESV) 1. BEING LED BY THE SPIRIT STARTS FROM FREEDOM, NOT CONDEMNATION Romans 8:1 There is therefore now no condemnation for those who are in Christ Jesus. (ESV) 2. BEING LED BY THE SPIRIT IS ABOUT SURRENDERING MORE, NOT STRIVING MORE Romans 8:3–4 For God has done what the law, weakened by the flesh, could not do. By sending his own Son in the likeness of sinful flesh and for sin, he condemned sin in the flesh, 4 in order that the righteous requirement of the law might be fulfilled in us, who walk not according to the flesh BUT ACCORDING TO THE SPIRIT. (ESV) 2 Corinthians 3:18 And we all, with unveiled face, beholding the glory of the Lord, are being transformed into the same image from ONE DEGREE OF GLORY TO ANOTHER. For THIS COMES FROM the Lord who is the Spirit. (ESV) 3. BEING LED BY THE SPIRIT INVOLVES RENEWING YOUR MIND Romans 8:5–6 For those who live according to the flesh set their MINDS on the things of the flesh, but those who LIVE ACCORDING TO THE SPIRIT set their MINDS on the things of the Spirit. 6 For to set the MIND on the flesh is death, but to set the MIND on the Spirit is life and peace. (ESV) Ephesians 4:23 Instead, LET THE SPIRIT RENEW YOUR THOUGHTS AND ATTITUDES. (NLT) 4. BEING LED BY THE SPIRIT INVOLVES CRUCIFYING YOUR FLESH Romans 8:7–8 For the mind that is set on the flesh is hostile to God, for it does not submit to God’s law; indeed, it cannot. 8 Those who are in the FLESH cannot please God. (ESV) Galatians 5:16 But I say, walk by the Spirit, and you will not gratify the desires of the flesh. (ESV) Romans 8:13 For if you live according to the flesh you will die, but if by the Spirit you put to death the deeds of the body, you will live. (ESV) 5. BEING LED BY THE SPIRIT REQUIRES LEARNING TO FOLLOW THE SPIRIT’S LEADING Romans 8:9–14 You, however, are not in the realm of the flesh but are in the realm of the Spirit, if indeed the Spirit of God lives in you. And if anyone does not have the Spirit of Christ, they do not belong to Christ. 10 But if Christ is in you, then even though your body is subject to death because of sin, the SPIRIT GIVES LIFE because of righteousness. 11 And if the Spirit of him who raised Jesus from the dead is living in you, he who raised Christ from the dead will also GIVE LIFE to your mortal bodies because of his SPIRIT who lives in you. 12 Therefore, brothers and sisters, we have an obligation—but it is not to the flesh, to live according to it. 13 For if you live according to the flesh, you will die; but if by the SPIRIT you put to death the misdeeds of the body, you will live. 14 For those who are LED BY THE SPIRIT of God are the children of God. (NIV) Galatians 5:25 If we LIVE BY THE SPIRIT, let us also keep in step with the Spirit. (ESV) 5A. YOU FOLLOW THE SPIRIT BY LEARNING HIS VOICE John 10:27 My sheep hear my voice, and I know them, and they follow me. (ESV) John 16:13 When the Spirit of truth comes, he will guide you into all the truth, for he will not speak on his own authority, but whatever he hears he will speak, and he will declare to you the things that are to come. (ESV) 5B. YOU FOLLOW THE SPIRIT’S LEADING BY PAYING ATTENTION TO HIS PROMPTINGS 5C. THE HOLY SPIRIT’S VOICE WILL CORRECT YOU Acts 10:13-15 Then a voice said to him, “Get up, Peter; kill and eat them.” 14 “No, Lord,” Peter declared. “I have never eaten anything that our Jewish laws have declared impure and unclean.” 15 But the voice spoke again: “Do not call something unclean if God has made it clean.” (NLT) 5D. THE HOLY SPIRIT’S VOICE WILL RESTRAIN YOU Acts 16:6–7 And they went through the region of Phrygia and Galatia, having been FORBIDDEN by the Holy Spirit to speak the word in Asia. 7 And when they had come up to Mysia, they attempted to go into Bithynia, but the Spirit of Jesus DID NOT allow them. (ESV) 5E. THE HOLY SPIRIT WILL DIRECT YOU ON WHERE TO GO Acts 8:29 And the Spirit said to Philip, “GO over and join this chariot.” (ESV) Acts 10:19–20 And while Peter was pondering the vision, the Spirit said to him, “Behold, three men are looking for you. 20 Rise and GO down and accompany them without hesitation, for I have sent them.” (ESV) 5E. THE HOLY SPIRIT’S VOICE WILL DIRECT YOU ON A DECISION Acts 13:2 While they were worshiping the Lord and fasting, the Holy Spirit said, “Set apart for me Barnabas and Saul for the work to which I have called them.” (ESV) Acts 15:28 For it has seemed good to the Holy Spirit and to us to lay on you no greater burden than these requirements: (ESV) 5F. THE HOLY SPIRIT’S VOICE WILL SPEAK TO US ABOUT THE FUTURE Acts 20:23 except that the Holy Spirit testifies to me in every city that imprisonment and afflictions await me. (ESV) 6. YOU FOLLOW THE SPIRIT’S LEADING BY OBEYING THE SPIRIT Ephesians 4:30 And do not GRIEVE the Holy Spirit of God, by whom you were sealed for the day of redemption. (NIV) 1 Thessalonians 5:19 Do not QUENCH the Spirit. (ESV) Hebrews 3:7–8 Therefore, as the Holy Spirit says, “Today, if you hear his voice, 8 do not harden your hearts as in the rebellion, on the day of testing in the wilderness, (ESV)

THE SECRETS TO DAILY FOLLOWING THE HOLY SPIRIT 1 Thessalonians 5:23–24 May God himself, the God of peace, sanctify you through and through. May your whole spirit, soul and body be kept blameless at the coming of our Lord Jesus Christ. 24 The one who calls you is faithful, and HE WILL DO IT (NIV) Titus 3:5 he saved us, not because of the righteous things we had done, but because of his mercy. He washed away our sins, giving us a new birth and new life THROUGH THE HOLY SPIRIT. (NIV) Galatians 3:3 Are you so foolish? After beginning by means of the Spirit, are you now trying to finish by means of the flesh? (NIV) 6 STEPS TO BEING SPIRIT LED INSTEAD OF FLESH LED Romans 8:14 For all who are led by the Spirit of God are sons of God. (ESV) 1. BEING LED BY THE SPIRIT STARTS FROM FREEDOM, NOT CONDEMNATION Romans 8:1 There is therefore now no condemnation for those who are in Christ Jesus. (ESV) 2. BEING LED BY THE SPIRIT IS ABOUT SURRENDERING MORE, NOT STRIVING MORE Romans 8:3–4 For God has done what the law, weakened by the flesh, could not do. By sending his own Son in the likeness of sinful flesh and for sin, he condemned sin in the flesh, 4 in order that the righteous requirement of the law might be fulfilled in us, who walk not according to the flesh BUT ACCORDING TO THE SPIRIT. (ESV) 2 Corinthians 3:18 And we all, with unveiled face, beholding the glory of the Lord, are being transformed into the same image from ONE DEGREE OF GLORY TO ANOTHER. For THIS COMES FROM the Lord who is the Spirit. (ESV) 3. BEING LED BY THE SPIRIT INVOLVES RENEWING YOUR MIND Romans 8:5–6 For those who live according to the flesh set their MINDS on the things of the flesh, but those who LIVE ACCORDING TO THE SPIRIT set their MINDS on the things of the Spirit. 6 For to set the MIND on the flesh is death, but to set the MIND on the Spirit is life and peace. (ESV) Ephesians 4:23 Instead, LET THE SPIRIT RENEW YOUR THOUGHTS AND ATTITUDES. (NLT) 4. BEING LED BY THE SPIRIT INVOLVES CRUCIFYING YOUR FLESH Romans 8:7–8 For the mind that is set on the flesh is hostile to God, for it does not submit to God’s law; indeed, it cannot. 8 Those who are in the FLESH cannot please God. (ESV) Galatians 5:16 But I say, walk by the Spirit, and you will not gratify the desires of the flesh. (ESV) Romans 8:13 For if you live according to the flesh you will die, but if by the Spirit you put to death the deeds of the body, you will live. (ESV) 5. BEING LED BY THE SPIRIT REQUIRES LEARNING TO FOLLOW THE SPIRIT’S LEADING Romans 8:9–14 You, however, are not in the realm of the flesh but are in the realm of the Spirit, if indeed the Spirit of God lives in you. And if anyone does not have the Spirit of Christ, they do not belong to Christ. 10 But if Christ is in you, then even though your body is subject to death because of sin, the SPIRIT GIVES LIFE because of righteousness. 11 And if the Spirit of him who raised Jesus from the dead is living in you, he who raised Christ from the dead will also GIVE LIFE to your mortal bodies because of his SPIRIT who lives in you. 12 Therefore, brothers and sisters, we have an obligation—but it is not to the flesh, to live according to it. 13 For if you live according to the flesh, you will die; but if by the SPIRIT you put to death the misdeeds of the body, you will live. 14 For those who are LED BY THE SPIRIT of God are the children of God. (NIV) Galatians 5:25 If we LIVE BY THE SPIRIT, let us also keep in step with the Spirit. (ESV) 5A. YOU FOLLOW THE SPIRIT BY LEARNING HIS VOICE John 10:27 My sheep hear my voice, and I know them, and they follow me. (ESV) John 16:13 When the Spirit of truth comes, he will guide you into all the truth, for he will not speak on his own authority, but whatever he hears he will speak, and he will declare to you the things that are to come. (ESV) 5B. YOU FOLLOW THE SPIRIT’S LEADING BY PAYING ATTENTION TO HIS PROMPTINGS 5C. THE HOLY SPIRIT’S VOICE WILL CORRECT YOU Acts 10:13-15 Then a voice said to him, “Get up, Peter; kill and eat them.” 14 “No, Lord,” Peter declared. “I have never eaten anything that our Jewish laws have declared impure and unclean.” 15 But the voice spoke again: “Do not call something unclean if God has made it clean.” (NLT) 5D. THE HOLY SPIRIT’S VOICE WILL RESTRAIN YOU Acts 16:6–7 And they went through the region of Phrygia and Galatia, having been FORBIDDEN by the Holy Spirit to speak the word in Asia. 7 And when they had come up to Mysia, they attempted to go into Bithynia, but the Spirit of Jesus DID NOT allow them. (ESV) 5E. THE HOLY SPIRIT WILL DIRECT YOU ON WHERE TO GO Acts 8:29 And the Spirit said to Philip, “GO over and join this chariot.” (ESV) Acts 10:19–20 And while Peter was pondering the vision, the Spirit said to him, “Behold, three men are looking for you. 20 Rise and GO down and accompany them without hesitation, for I have sent them.” (ESV) 5E. THE HOLY SPIRIT’S VOICE WILL DIRECT YOU ON A DECISION Acts 13:2 While they were worshiping the Lord and fasting, the Holy Spirit said, “Set apart for me Barnabas and Saul for the work to which I have called them.” (ESV) Acts 15:28 For it has seemed good to the Holy Spirit and to us to lay on you no greater burden than these requirements: (ESV) 5F. THE HOLY SPIRIT’S VOICE WILL SPEAK TO US ABOUT THE FUTURE Acts 20:23 except that the Holy Spirit testifies to me in every city that imprisonment and afflictions await me. (ESV) 6. YOU FOLLOW THE SPIRIT’S LEADING BY OBEYING THE SPIRIT Ephesians 4:30 And do not GRIEVE the Holy Spirit of God, by whom you were sealed for the day of redemption. (NIV) 1 Thessalonians 5:19 Do not QUENCH the Spirit. (ESV) Hebrews 3:7–8 Therefore, as the Holy Spirit says, “Today, if you hear his voice, 8 do not harden your hearts as in the rebellion, on the day of testing in the wilderness, (ESV)

This Week In Startups is made possible by:IM8 Health: IM8health.com/TWISTSquarespace: Squarespace.com/TWISTRender - Render.com/TWISTSelf-driving just stopped being a science problem and became an engineering challenge instead. That's the through-line of today's double-header with the CEOs of two of the most important AV companies in the world — Wayve's Alex Kendall and Waabi's Raquel Urtasun. Between them: ~$2B raised in the last six months, Uber as a partner, Nissan and Volvo as OEMs, and a shared bet that end-to-end AI plus world models beats Waymo's city-by-city map-and-pray approach.If you want to understand the state of the self-driving industry beyond recent Waymo announcements, this is the episode for you.Guest Links:Wayve: wayve.ai/Waabi: http://waabi.ai/Alex Kendall https://www.linkedin.com/in/alexgkendall/Raquel Uratsun: https://www.linkedin.com/in/raquel-urtasun-298400139/Company Links:Wayve's GAIA-2 world model: https://wayve.ai/thinking/gaia-2/Wayve's 500 city roadshow: https://wayve.ai/thinking/ai-500-roadshow-500-cities/Wavye's most recent funding round: https://wayve.ai/press/series-d/Waybe + Uber: https://wayve.ai/press/wayve-nissan-uber-robotaxi-collaboration/Waabi closed-loop simulator: https://waabi.ai/insights/waabi-worldWaabi + Volvo: https://waabi.ai/insights/waabi-and-volvo-autonomous-solutions-partner-to-jointly-develop-and-deploy-autonomous-transportation-solutionsWaabi + Uber: https://www.uberfreight.com/en-US/blog/uber-freight-and-waabi-introduce-industry-first-autonomous-truck-deployment-solutionTimestamps:0:00 Alex Kendall (Wayve) joins the show1:19 The contrarian bet on end-to-end AI and world models in 20173:05 What is a world model? GAIA-2 and GAIA-3 explained7:34 Sensor agnosticism: camera, radar, LiDAR and minimum bar for safety9:56 $1.5B raised — have we cracked self-driving?10:09 Render: Find out why 5 million developers are already using the all-in-one cloud platform, Render. Go to https://render.com/twist and apply for the Render Startup Program to get $500-$100,000 in free credits, depending on your stage and backers.20:38 Squarespace: Use offer code TWIST to save 10% off your first purchase of a website or domain at https://www.Squarespace.com/TWIST25:03 How consumers will actually pay: bundle, subscription, or free trial30:15 IM8 Health: Start feeling like your best self every day. Go to https://IM8health.com/twist and use the code TWiST to get a free welcome kit, five free travel sachets, and 10% off your order.35:59 Raquel Urtasun (Waabi) joins the show36:25 World models as controllable simulators for physical AI43:34 One AI brain across trucks, robotaxis, and beyond47:35 What changed in AI to make 2026 the deployment year52:28 Why Waabi raised $1B when they're capital-efficient58:52 Where Waabi is today: Volvo VNL Autonomous, Dallas-Houston, Uber Freight1:00:50 Per-mile pricing and the Driver-as-a-Service model1:07:20 Has Uber tried to buy Waabi? "Not for sale"Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: ⁠https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason's suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com

For this week's ep of my podcast Apt. 5B we're chopping it up about where did the fun in hip hop go? We're also chopping it up about 5 MC's/groups that had fun with their music and when was the last time you actually smiled listening to hip hop?Just another DOOOOOOOOOOPE ep y'all and don't forget to subscribe to our YouTube page and check us out wherever you listen to your fave podcasts at!@Kil889www.willmakebeatsforfood.com

OpenAI is weighing legal action against Apple over a Siri integration it says fell far short. Cerebras opened at $350 in the largest US tech IPO since Uber. Mythos helped researchers crack macOS security, Anthropic restores OpenClaw access with Agent SDK credits, and 71% of Americans oppose local data centers. Sources: OpenAI is weighing legal action against Apple after expectations that ChatGPT's Siri integration would generate billions in revenue fell short (Bloomberg) Security researchers used Anthropic's Mythos to discover a privilege escalation exploit in macOS, circumventing Apple's Memory Integrity Enforcement in five days (WSJ) Cerebras opens at $350, valuing the chipmaker at $100B+, after raising $5.5B by selling 30M shares at $185, the largest US tech IPO since Uber's debut in 2019 (CNBC) Anthropic unveils Claude Agent SDK credits for paid plans, which users can allocate for programmatic use of third-party agents like OpenClaw, starting June 15 (VentureBeat) AT&T, T-Mobile, and Verizon sign an "agreement in principle" to form a joint venture that aims to end wireless dead zones in the US, without giving many details (The Verge) Gallup: 71% of Americans oppose local AI data center construction, citing water and electricity issues, with opposition higher among Democrats than Republicans (Washington Post) Learn more about your ad choices. Visit megaphone.fm/adchoices

Most founders fail not because of their idea.They fail because of who they are.Lew Frankfort built Coach from $6M to $5B over 35 years and now invests in early-stage founders. In this episode of Common Denominator, he breaks down the founder mindset, the leadership frameworks, and the hard lessons behind scaling a business from the ground up including why ego kills more companies than bad ideas, how to find investable ounders, and what it really takes to build an enduring brand.Timestamps:00:00 – Introduction & Background03:15 – What Makes a Founder Actually Scalable?05:20 – Why Most Ideas Never Become Businesses06:30 – The Rare Founder: Creativity + Business Acumen08:50 – Ego vs. Coachability10:50 – Building the Right Team (and Letting Go)14:15 – From NYC Government to Coach18:15 – Fear, Imposter Syndrome, and Leadership Pressure21:30 – How to Hire for Emotional Intelligence24:00 – The Problem with Modern Business Models26:30 – Losing and Regaining Momentum (“Mojo”)29:00 – Mental Health, Purpose, and Longevity30:30 – Building a Collaborative Culture32:30 – What Lew Is Most Proud Of32:50 – The Early Insight That Changed Everything34:13 – Final Thoughts: Purpose & Giving Back 

Microsoft scouts non-OpenAI deals; Clio hits $500M ARR as Anthropic enters legal. Show Articles Anthropic and Gates Foundation commit $200M to deploy Claude in global health and education Cerebras prices IPO at $5.5B, then stock doubles in first-day trading Microsoft scouts startup deals to hedge its OpenAI dependence Clio hits $500M ARR as Anthropic muscles into legal AI with Claude for Legal Jensen Huang's foundation buys $108M of CoreWeave compute, donates it to researchers Show LinksGet the top 80+ AI Models for $8.99 at AI Box: ⁠⁠https://aibox.aiHow I Grow and Scale My Business with AI: https://www.skool.com/aihustle

Google unveiled Googlebook, merging ChromeOS and Android into a unified laptop OS shipping this fall. WhatsApp launches Incognito Chat for private AI conversations. Anthropic's revenue run-rate is on track to hit $50B by end of June, and Anduril raised $5B at a $61B valuation. Google unveils Googlebook, its new laptop lineup featuring a unified OS merging ChromeOS and Android, with devices from Dell, HP, and others coming this fall (ZDNet) Google also unveiled Gemini Intelligence, bundling existing and new Gemini features, including task automation across apps and letting users vibe code Android widgets (The Verge) WhatsApp launches Incognito Chat, an AI chat mode built on Private Processing that Meta says lets users talk to AI without Meta being able to access the chats (Wired) Investor docs: Anthropic's revenue run-rate is on track to hit $50B by the end of June; Ramp says more of its customers now use Anthropic than OpenAI, a first (WSJ) Anduril raised a $5B Series H led by Thrive and a16z at a $61B valuation, up from $30.5B in June 2025, taking its total funding to $6.82B, and could IPO in 2027 (NYT) Richard Socher's Recursive Superintelligence raised $650M+ from GV, Greycroft, Nvidia, AMD, and others at a $4B valuation to pursue "recursive self-improvement" (NYT) Learn more about your ad choices. Visit megaphone.fm/adchoices

May 13, 2026: Your daily rundown of health and wellness news, in under 5 minutes. Today's top stories: Strava adds physical therapy as dedicated activity type for 195M+ users, expanding from workout logging into movement, recovery, and long-term health Polycystic Ovary Syndrome renamed Polyendocrine Metabolic Ovarian Syndrome (PMOS) by 50+ medical organizations to reflect hormonal and metabolic impacts affecting 170M+ women Function acquires SuppCo adding supplement verification to $2.5B platform combining bloodwork, at-home labs, and preventative scans with AI health intelligence More from Fitt: Fitt Insider breaks down the convergence of fitness, wellness, and healthcare — and what it means for business, culture, and capital. Subscribe to our newsletter → insider.fitt.co/subscribe Work with our recruiting firm → https://talent.fitt.co/ Follow us on Instagram → https://www.instagram.com/fittinsider/ Follow us on LinkedIn → linkedin.com/company/fittinsider Reach out → insider@fitt.co

What if the biggest problem with “Emerging Markets” is the name?Edward Lam thinks that label has been doing the category a disservice for decades.Today, he's sitting down with Stacy to zoom out and question the category…then zoom back in to what that means for portfolios, risk, and real alpha.Edward grew up in Hong Kong, went to boarding school in the UK, and landed in EM in 2004. He had no training program or mentor, just four walls of books he was determined to read. By the time he left, he'd taught himself accounting, built a research function from scratch, and was running a fund that grew from £1M to £3.5B.Listen in to hear: How Edward built his own training program from scratch and why that became one of his biggest edgesWhat "subordinate currency regimes" means and how it changes everything we thought we knew about EM risk The tension between building something investable and staying true to the thesisWhat scaling from £1M to £3.5B actually looks like when you have to earn every rung yourselfWhy he walked away from asset management, what the gap taught him, and what brought him backMore About Edward Lam: Edward Lam entered the fund management industry in 2004 as an analyst at Emerging Markets specialist Lloyd George Management, covering Taiwan and technology. In 2007, he co-founded Somerset Capital Management, where he served as Head of Research and chaired the investment committee. In 2010, he launched Somerset's EM Dividend Growth strategy, scaling it from a ~$1.5M seed to nearly $4B AUM. Edward left Somerset in 2020, then joined Sloane Robinson in 2023, became CIO, and launched the SR Ocellus fund in 2024.In his free time, he enjoys reading about the history and philosophy of finance, including many areas that others (based on feedback) find boring.  ---Running a fund is hard enough.Ops shouldn't be.Meet the team that makes it easier. | billiondollarbackstory.com/ultimus- - -Thinking about expanding your investor base beyond the US? Not sure where to start? Take our quick quiz to find out if your firm is ready to go global and get all the info at billiondollarbackstory.com/gemcap

Read more from VPM News:  Richmond councilors sign off on $3.5B budget for FY27  Updated: Virginia Democrats ask US Supreme Court to step in on redistricting case Dominion Energy plans for state's biggest gas plant in Cumberland (VPM News)  New study highlights importance of home repair assistance programs    Other links:  City seeks dismissal of water crisis lawsuit from former DPU director (Richmond Times-Dispatch)*  Hyperscale, Hyperspeed: Data centers in NC don't pay taxes on their supplies or their electricity. Should that change? (WUNC)  Richmond native 1st Lt. Kendrick Key found dead after going missing in Morocco (WTVR) *This outlet uses a paywall.  Our award-winning work is made possible with your donations. Visit vpm.org/donate to support local journalism.

The Pentagon just signed eight AI deals and left Anthropic out. Wall Street is helping both Claude and ChatGPT move deeper into companies. And Elon Musk went from calling Anthropic evil to powering it with his own data center. This week, the Pentagon clears eight major tech companies for classified military AI while Anthropic fights back in court, Anthropic and OpenAI both launch enterprise AI services businesses backed by Wall Street giants, GPT-5.5 Instant becomes ChatGPT's default model with significantly fewer hallucinations, Greg Brockman takes the witness stand in Elon Musk's lawsuit against OpenAI, and Anthropic signs a deal with SpaceX to use the Colossus 1 data center that Musk built for his own AI company. If you are a founder, operator or executive trying to keep up with AI, this is your weekly news briefing every Tuesday. Stories Covered This Week: The Pentagon signs AI agreements with Google, OpenAI, Microsoft, Nvidia, AWS, SpaceX, Oracle and Reflection while Anthropic fights to stay on the list Anthropic launches a $1.5B enterprise AI services company with Blackstone and Goldman Sachs while OpenAI finalizes a $10B joint venture called The Deployment Co GPT-5.5 Instant is now ChatGPT's default model, making 52.5% fewer errors on high stakes questions Greg Brockman testifies in Elon Musk's OpenAI lawsuit, revealing tense scenes from the company's early days Anthropic signs a deal with SpaceX to use Colossus 1, the data center Musk built for xAI, with talks of orbital AI infrastructure to follow Timestamps: 00:00 Intro 00:20 Pentagon signs eight AI deals, Anthropic left out 01:53 Anthropic and OpenAI launch enterprise AI services businesses 03:30 GPT-5.5 Instant becomes ChatGPT's default model 04:53 Greg Brockman testifies in Elon Musk's OpenAI lawsuit 06:23 Elon Musk goes from calling Anthropic evil to powering Claude 08:10: Outro Partner Links: Upgrade your AI toolkit: https://www.theaireport.ai/ai-executive-pass Subscribe to our free newsletter: https://newsletter.theaireport.ai/subscribe Join the community: www.theaireport.ai/leaders-launch-guide Learn more about your ad choices. Visit megaphone.fm/adchoices

Shopify posted its strongest quarter in four years and the stock fell 7%. Rick walks through why Wall Street wasn't impressed, what the LVMH signing actually means for the "Shopify is only for startups" narrative, and the credit-loss line item that's quietly getting bigger.Also this week:Amazon Q1: three numbers Wall Street missed, including a $150B grocery run rate and free cash flow down 95%The Watson Weekly is sponsored by Avalara—the agentic AI platform automating global tax and compliance for leading eCommerce brands. Go to avalaratax.watsonweekly.com for more details.Alphabet's Universal Commerce Protocol, now signed by Kingfisher, Target, and WayfairGameStop's $55.5B bid for eBay, with Ryan Cohen pitching it as "Chewy on steroids"Investor Minute: PayPal restructure, Recharge buys Skio for $105M, Cognizant grabs Astreya for $600M, Lipton takes a $245M CVC investment, District raises $14.7M seed

Episode#334-Taped April 08, 2026 We talk about research articles and hot topics. There is a new plan that aims to track microplastics in our drinking water, the EPA says. This plan could lead to new regulations for federal water systems. The new White House budget plan would reduce HHS funding by billions. The National Institutes of Health(NIH) alone faces a $5B cut. Some of the articles discussed: Article-New White House budget plan would reduce HHS funding by billions-HealthDay News Article-New plan aims to track microplastics in U.S. drinking water, EPA says-HealthDay News It's All About Health & Fitness-Vicki Doe Fitness podcast Ranked on the Top 25 Midwest Fitness Podcasts to Listen to… with additional national recognition on the Top 100 US fitness podcast. Rate This Podcast Give us a 5-star review.  We appreciate you! Take this quick audience survey. Thank you! FREE Metabolic Makeover Masterclass Webinar Replay! Learn how to reset your metabolism, boost energy, and support sustainable weight loss using simple, science-backed strategies. Enroll in the Vicki Doe Fitness Academy to get instant access to the replay and begin your healthy living journey today. Vicki Doe Fitness-STORE Discover the Vicki Doe Fitness-STORE—your destination for stylish apparel, fitness gear, and wellness essentials like yoga mats, water bottles, candles, and premium supplements. Shop now and elevate your health journey! Resources *Note: Some of the resources below may be affiliate links, meaning Vicki Doe Fitness receives a commission (at no extra cost to you) if you use the link to make a purchase. Thank you for your support! Herbs and spices are the keys to delicious, flavorful, and sophisticated meals! FREE DOWNLOAD- Herbs and Spices Cheatsheet Let's get ECO-friendly.  Try ECOLunchbox.com ECOlunchbox specializes in stainless steel bento boxes, artisan fair trade lunch bags, napkins, snack sacks, and other eco-friendly lunchware. They are a certified green business.  ECOlunchbox is a consumer products company started by an eco mom in the San Francisco Bay Area. ECOLunchbox.com Go to our Resources page-   For the most recommended tools, you need to succeed on your healthy living journey!! Listen and share our podcast show- “It's All About Health & Fitness-” Vicki Doe Fitness Subscribe to Apple Podcast Subscribe on Stitcher Or on any of the platforms that you listen to your podcast! Watch & Subscribe on YouTube! Catch our latest health & wellness videos on YouTube at Vicki Haywood Doe – Vicki Doe Fitness YouTube-Vicki Haywood Doe-Vicki Doe Fitness

Episode 295 is a packed one. Shell (SHEL) caps a strong Q1 with its second dividend hike of the year, bringing the annualised increase to 9.1% — Edgi explains the working capital mechanics behind the headline cash flow dip and why the net debt increase isn't what it looks like.Then there's Zoetis (ZTS), the world's largest animal health company, down nearly 30% after Q1. US companion animal revenue fell 11%, debt doubled from $5B to $9B, and a premium growth multiple is unwinding fast. Buying opportunity at 13x PE, or something deeper? We go through the numbers. Also covered: Brookfield Asset Management (BAM) and Ahold Delhaize (AD.AS), where incoming CEO news has Edgi reaching for a put option.Listener Q&A takes on Wolters Kluwer (WKL.AS), Intuit (INTU) vs ADP vs Paychex, H&R Block (HRB) as an AI winner, Equity LifeStyle Properties (ELS), currency debasement, and European telco consolidation.Facebook Community - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Dividend Talk Facebook Group⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Discord group - ⁠⁠⁠⁠⁠⁠⁠⁠https://discord.gg/nJyt9KWAB5⁠⁠⁠⁠⁠⁠⁠⁠Follow us: Twitter - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@DividendTalk_⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠Twitter - ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠@European_DGI⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Become a Premium Member for just 129 Euros a year: ⁠⁠⁠⁠⁠⁠https://dividendtalk.eu⁠⁠⁠⁠⁠⁠⁠Disclaimer: Educational content only. Not financial advice.

Three stories on the table this week, and none of them small.Saks Global plans to exit Chapter 11 on June 22nd carrying $1.2 billion in debt, with a reorganization plan targeting $9 billion in GMV by fiscal 2030. That's nearly double where they sit today. Rick Watson and Jessica Lesesky walk through the vendor mess (720 brands stopped shipping at the worst of it), the repair work underway, and why exiting bankruptcy this leveraged sets up another round of trouble down the road.The Watson Weekly Weekend edition is sponsored by Avalara - the agentic AI platform automating global tax and compliance for leading eCommerce brands. For more details: https://avalaratax.watsonweekly.comOver at Victoria's Secret, Australian investor Brett Blundy's BBRC Worldwide has built a roughly 13% stake and is pushing to remove two directors: chair Donna James and Miriam Naficy. The complaint is acquisitions like Adore Me. CEO Hillary Super is running a "path to potential" plan built around body positivity and a return to the Angels heritage. Fiscal 2025 sales are up 5%. The question is whether that's enough to keep the activist quiet.Then earnings. Alphabet did $109B in Q1, with Google Cloud growing 63% YoY to a $20B run rate and a $462B backlog. Amazon hit $181B, AWS grew 28% to $37.5B, and the chip business crossed a $20B run rate of its own. Shopify cleared $100B in quarterly GMV for the first time, with operating income up 88% on the back of all the layoffs and restructuring.The thread underneath all of it: AI compute is getting more expensive, not less. The pricing power is sitting with the infrastructure layer. Amazon, Nvidia, and the LLM owners are collecting the rent. The businesses adopting AI are paying it.