Podcasts about GameStop

My guest today is Dan Sundheim. Dan is the founder and CIO of D1 Capital Partners. He thinks about markets and businesses constantly, and has built a career entirely around that obsession. He manages over $30B across both public and private markets, with investments in SpaceX, OpenAI and Anthropic, and a public portfolio of names you may never have heard of. Dan shares the story of the short case he wrote on Orthodontic Centers of America and posted on Value Investors Club, which crashed the stock, and helped him land his first job. He shares why he backed Anthropic at a moment when many people told him it was the Lyft to OpenAI's Uber, what reading Dario Amodei's essays reminded him of Jeff Bezos, and how he thinks about LLM business models through the lens of Netflix and Spotify. We spend time on the extraordinarily stressful moment in early 2021 when GameStop hit the firm, and what Dan believes is the single biggest tail risk facing the global economy right now. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Visit ⁠vanta.com/invest⁠.  ----- ⁠WorkOS⁠ is a developer platform that enables SaaS companies to quickly add enterprise features to their applications. Visit⁠⁠ ⁠WorkOS.com⁠⁠⁠ to transform your application into an enterprise-ready solution in minutes, not months. ----- ⁠Rogo⁠ is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgelineapps.com⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://thepodcastconsultant.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠). Timestamps: (00:00:00) Welcome to Invest Like the Best (00:02:43) Intro: Dan Sundheim (00:03:58) The State of Public & Private Investing (00:07:32) Investing in OpenAI and Anthropic (00:10:22) LLMs Business Model (00:14:13) How LLMs are like Netflix and Spotify (00:17:08) Focus v. Scope (00:22:43) The Bear Case for Hyperscalers (00:26:36) The Software Sell-Off (00:31:08) If Scaling Laws Stopped (00:32:18) Advice to a 12-Year-Old Investor (00:33:54) GameStop: D1's Darkest Hour (00:37:14) The Pivotal Dinner with LPs (00:40:56) Staying Calm and Confident (00:42:08) Economic Optimism vs. Societal Uncertainty (00:44:26) Investing on SpaceX and Rivian (00:48:09) Why Dan Loves Shorting (00:48:51) Sources of Inefficiency in Today's Markets (00:51:45) The Importance of Loyalty (00:53:11) Dan's Group Chat for Founders (00:55:39) What Motivates Dan (00:57:28) Posting on Value Investors Club (01:01:46) What Dan Learned at Viking (01:04:22) The Beauty of Art (01:06:49) Under-appreciated Parts of the Global Economy (01:08:00) The US-China-Taiwan Collision Course (01:12:10) Good Leaders vs. Good Businesses (01:13:15) The Kindest Thing

Subscribe to Two Quants and a Financial Planner on SpotifySubscribe to Two Quants and a Financial Planner on AppleIn this episode, we explore one of the most important but overlooked questions in investing: what is the purpose of your portfolio? Through a series of powerful clips and reflections from Aswath Damodaran, Meb Faber, Ben Hunt, Cullen Roche, Corey Hoffstein, Daniel Crosby, Larry Swedroe, and Wes Gray, we examine how goals like financial freedom, funded contentment, liability driven investing, retirement planning, and multi generational wealth shape the way we invest. This conversation goes beyond beating the market and focuses on preserving and growing wealth, reducing financial stress, aligning money with meaning, and defining what a life well lived truly looks like.Topics covered include:Why the end game of investing matters more than beating the marketPreserving and growing wealth vs trying to get richFreedom as the ultimate goal of financial independenceFunded contentment and what it means to live a life well livedLiability driven investing and matching assets to future needsThe difference between getting rich and staying richNeeds vs desires and understanding marginal utility of wealthRetirement planning and redefining success beyond a numberMulti generational wealth and thinking beyond your own lifetimeThe psychological impact of growing up with or without moneyFinancial freedom, stress reduction, and peace of mindTactical financial goals vs long term purpose driven investingEducation, legacy, and investing in the next generationWhy once you win the game you may not need to keep playingTimestamps:00:00 Aswath Damodaran on preserving and growing wealth10:04 Meb Faber on freedom, contentment, and the hedonic treadmill22:36 Ben Hunt on funded contentment and finding your pack28:23 Cullen Roche on risk as uncertainty of consumption33:25 Corey Hoffstein on liability driven investing and not worrying about money41:50 Daniel Crosby on financial freedom and living life on your own terms47:33 Larry Swedroe on needs vs desires and staying rich55:54 Wes Gray on big blue arrows, tactical goals, and peace of mind

O "Ulrich Responde" é uma série de vídeos onde respondo perguntas enviadas por membros do canal e seguidores, abordando temas de economia, finanças e investimentos. Oferecemos uma análise profunda, trazendo informações para quem quer entender melhor a economia e tomar decisões financeiras mais informadas.00:00 – Começando mais um Ulrich Responde 00:08 – O tarifaço do Trump: Decisão histórica da Suprema Corte Americana 04:35 – Qual o verdadeiro objetivo do desfile carnavalesco do Lula? 06:47 – Irã x EUA: O que podemos ver de reações no mercado? 09:53 – Ray Dalio e a transição para o estágio 6 do grande ciclo da Ordem Mundial 17:38 – O sistema bancário vai ruir? Com bancos quebrando, como o dólar ainda está baixo e qual a perspectiva do investidor estrangeiro? 20:38 – Poderia comentar sobre essa nota do FED sobre Kalshi e os macromercados? 21:57 – Uma parte da dívida americana vence em março de 2026 e o Japão deve aumentar juros. Qual o impacto em ações e cripto? 23:00 – É realista imaginar uma moeda fiduciária lastreada em Bitcoin? O que o governo ganharia com isso? 24:48 – Como anda a tese da platina? 25:06 – Como está hoje a tese de investimento em plataformas de perfuração de petróleo offshore? 27:27 – O que acha dessa remontada da GameStop? Michael Burry tem falado dela.29:09 – Gostaria de compreender mais sobre o FGC: onde ficam aplicados esses altos valores? 29:55 – Como vê o momento para entrada em Urânio? 31:55 – Recomenda algum bom livro para entender melhor sobre os nossos vieses nos investimentos? 32:27 – Como analisa as elites globais sendo desmascaradas (caso Jeffrey Epstein)? Como isso afeta o cenário macro? 38:02 – Que conselho você daria ao empreendedor da era de IA com essa loucura que virou a economia? 39:09 – Investir na OBTC3 pode ser considerado exposição internacional pelo fator câmbio? 39:41 – Temos isenção fiscal no ganho de capital de OBTC3 até R$ 20 mil/mês? 39:59 – Dívida/PIB chegando a 100%: o mercado acredita no arcabouço fiscal? 40:41 – Compensa investir em ações diante do cenário econômico que vivemos no Brasil atualmente? 41:59 – Você acha que o BTC perdeu a ideia de anonimato? 46:27 – O que pensa de outros países como Argentina, Paraguai e Uruguai para morar? 47:47 – Se o dinheiro é "infinito", por que cobram impostos? 48:14 – É o momento para comprar dólar? 49:31 – O dólar poderia ser substituído como padrão monetário? Será a chance do Bitcoin? 50:15 – Você tem seguro de vida?

The Smarter Way To Pick Winning Stocks  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Checkout the Tykr Platform here. #624: The Smarter Way To Pick Winning Stocks In this video: 00:14 – Sean Tepper – found of TYKR 04:55 – How does this software help? 08:50 – TFTC also helps create successful traders 12:25 – Is social media helpful? 16:20 – Multiple brokers or one? 22:18 – TFTC creating a trading bot program 28:16 – 60,000 stocks analyzed 32:45 – Contact Sean Andrew Mitchem Hello, everybody. It’s Andrew Mitchem here at The Forex Trading Coach. And today I’m really pleased to be joined by Sean Tepper, who’s the founder and the CEO of Tykr. Welcome along. Sean. Sean Tepper Andrew. Good to be here. Andrew Mitchem Awesome to have you. Sean, could you introduce yourselves to everybody and let us know who you are and what you do and what we’re going to talk about? Sean Tepper – found of TYKR Sean Tepper Sure. Yeah. My name is Sean Tepper. I’m the founder of TYKR, as Andrew said. And long story short, TYKRs a platform that helps people buy and sell stocks with confidence prior to that. My background is about 20 years in tech, 15 years investing, and I kind of created TYKR as a solution to a frustration in the markets. Sean Tepper And we could dive into what that frustration is, if you’d like. Yeah. But yeah, I had to create a solution because it was very hard to make decisions when I first got started. And that’s where really TYKR came from. And, but yeah, fast forward to today. We’ve got a little over, 13,000 customers in about 50 countries, including where you’re based. Sean Tepper New Zealand. Andrew Mitchem Oh that’s good. Yeah. So you had 50 countries. That’s a that’s an awesome effort. And, and Sean, I was reading about, you know, you started, on your website says, in, you know, 2011 to 2015, you were trying to figure out what wasn’t there to help you. What did you find back then? Was the biggest frustration that led to TYKR happening? Sean Tepper Yeah. So when I first got started, you know, I think I joined E-Trade. And, you know, there’s so many brokers these days, it’s hard to keep track of. But as soon as I joined, I had no idea what to do next. So I started going on YouTube researching where do you go to invest? Like looking up different investing platforms? Sean Tepper I found a few of our competitors, like Seeking Alpha and Motley Fool, and they do a fine job, but it’s still very difficult to truly know the difference between a strong stock and a weak stock is is very frustrating. And for context, my background is in tech, but to go, layer deeper, it’s actually in process engineering. Sean Tepper Like I’ve worked a lot for GE and Koehler. And the rule is in process engineering, if you have 100 data points, you cannot present that to a customer or an executive. You have to roll it up to ideally a binary decision like yes or no or a traffic light. And I was complaining at that time, like, am I the only one complaining about the fact that there’s no process engineering lens layered over investing like, this is insane. Sean Tepper Like nobody’s making it easy. And that was kind of the green light I was thinking of, like, hey, if I could figure something out here, I think the big solution is a create a process engineering solution in the world of finance and apparently I’m the only one really doing that today, other than the few platforms that say buy or sell. Sean Tepper But I don’t really recommend that. But yeah, that was that was the beginning. And it took about a year to build this Excel sheets. And I give you context here, I found a lot of inspiration from Phil Towne. He wrote a few books on value investing. Do you know Phil Towne? Andrew Mitchem No, I don’t know. No. Okay. Sean Tepper Your your audience may be interested. He wrote a book. One of them is rule one. The other one is payback time. I really provided some. Yeah, yeah. You know, rule one investing, Warren Buffett. We can talk about that. But, yeah, I, I found some of the calculus in his books, put it into Excel, and I ended up coming up with about 50 data points to analyze the stock. Sean Tepper And then on top of that, I created a traffic like rating system where stocks are either on sale, watch or overpriced. That’s green, gray or red. And I used it the next 4 or 5 years on my own, making returns between 15 and 50%, and my returns still fall in that range today. Our customers actually fall in that range as well. Sean Tepper But yeah, I, I wanted to make sure I’m using my own money testing it to make sure it works, not just like four weeks or four months. I went like that over four years. And then it was 2019 was the inflection point when I’m like, I think I’ve got a solution here, but let’s just confirm. Sent the sheet to a few of the retail investors and everybody’s like, I’m not going to use this Excel sheet. Sean Tepper This is insane. You got to create a software. So that right. That was the green light. Let’s go create a SaaS platform. And took a year to build the first version. And the first version was not pretty. But yeah, fast forward to today. That’s where we’re at. But yeah. Andrew Mitchem They Nimrod when you look back on them. Sean Tepper Yeah, right. It was like the, the metaphor I use is it felt like I was building a physical prototype made of like, and duct tape and cardboard. It was not pretty videos. It’s pretty ugly. But you get feedback from your customers and you just keep making it better, and it actually turns into something. How does this software help? Andrew Mitchem So, yeah, awesome. That’s brilliant. So fast forward then to today. Why would someone come and use what you have and I suppose in a practical basis, how does it help them? What are they. What do they input? What do they use to make decisions for them? Sean Tepper Sure. Yeah. So I’ll give you some of the the subjective reasons and then we’ll get into the objective and why that’s actually important to our, our broker partners. But our rating system again process engineering, it doesn’t sound very glamorous, but the concept of making decisions very easy for people, it is very true in most industries. So we we use the process engineering lens. Sean Tepper Plus we take a lot of inspiration from Duolingo for language learning in our opinion. Like what? They’ve got over 600 million users. They’re doing something right. We’re teaching people how to learn a language with these micro learning modules. And I’m like, we need to do the same thing in our platform, but it’s got to be investing focused. So we’ve got these modules peppered around that quickly teaches people how to invest in you put the two together, the rating system, plus the simplified education that helps people. Sean Tepper And it’s not our guarantee, but it’s it’s something we let people know upfront that 90% of customers is actually over 90. But we say 90% of customers that use TYKR are able to go from a beginner to confident an investor in 14 days or less. It’s very quick. Wow. And what does that mean from an objective standpoint? And this is what matters most to brokers, which is most brokers we’re talking to have two big problems. Sean Tepper And number one, very little transaction volumes, like somebody will join on day one and they’ll wait three months or six months or nine months, and then make another trade. And the other issue is the average account size is less than 5000. While with TYKR after five years. Now we’re we track like a lot of data points to see our, investors behavior. Sean Tepper And typically people make 30% more transactions after joining TYKR. And their average account size is about $180,000. So what that tells us is and it tells. Right. So these people are their confidence is skyrocketing and they’re adding more money from their checking account or their savings. So it’s not sitting in a low interest vehicle. So so there you go. Sean Tepper That’s how we’re different. I’ll give you one more way where different in your audience may appreciate this is TYKRs. Calculations are actually open source for personal use. And the SEC really likes that. Like we had an audit done to make sure we fall in that publisher exclusion category. We could talk about that in a minute, but making sure we’re not we’re not giving financial advice, but this firm we’re talking to and we had another we’re actually had two firms. Sean Tepper Take a look. They were both very impressed that we we put those calculations out and I’m like, I’m, I’m actually not concerned anybody’s going to take it because it’s even though it’s relatively simple math, it’s a lot of it. And try to put together in a software what would take you a really long time. So fortunately nobody’s tried to duplicate it. Sean Tepper But the calculations are out there. Andrew Mitchem Yeah, well, for the sake, I was looking on your your purchase, page. Your pricing page. For the sake of $50 a month, you just use it. Wouldn’t you? Rather than trying to reinvent it or. Sean Tepper It exact right at the base price is like, you’re saying 15, 15 bucks a month or 99 a year? You’re right. It’s like, oh, okay. So here’s the here’s the calculations. Yeah. I’m not going to reiterate. That’s where it. Andrew Mitchem Is. I mean in in lifetime working it out will spend $100 a year same. Sean Tepper Same prices Netflix their. Andrew Mitchem Data. Exactly. Yeah a lot more educational. Yes. Sean Tepper Yes. TFTC also helps create successful traders Andrew Mitchem Thank you. So it it sounds like although we’re in, slightly different markets within the overall similar markets now, we have something very similar going on, which is amazing is we’ve never met obviously, before, you know, 20 minutes ago, and that we find that our clients would be very similar to yours. The average forex person’s out there, small account, scared to trade, or they do the opposite and they do silly things and they make us even money and then lose it all, which inevitably happens. Andrew Mitchem And then they blame the break on the market. And that’s where we find our clients are different as well. You know, they have confidence that low risk approach. They they know what they’re doing, what to look for, when to do it. And therefore when they go to a broker brokers out there because, you know, the client’s got a hugely, bigger account and trading more often. Andrew Mitchem So it’s incredible how education and lack of it can affect so many people in this. Seriously. Yeah. It’s crazy. Yeah. Now, Sean, you mentioned, about the no financial advice, you know, situation. And again, coming back, that’s where we’re similar, you know, what’s your take on the no financial advice? Sean Tepper Yeah. So with the SEC, there’s I don’t have the exact, it’s like rule 102-5 or whatever. I’m making that up. But yeah, they’re essentially three rules you have to follow with staying in the publisher exclusion category. And there are companies and there are guys out there, some women as well, that they they get into some some shaky ground or gray areas where they push the envelope and they can get into some some big legal trouble. Sean Tepper So the three rules really go as follows. Number one is all information has to be factual. Like we can’t say like, hey, because I like x, y, z CEO, I think the share price is going to $2,000 a share. That’s crazy. We have to present the data like everything we do is really based off the fundamentals. We don’t cook any books. Sean Tepper We don’t skew the financials. It’s like, hey, here’s the EPS, here’s the revenue, here’s the net income, here’s the debt. Bam, roll it up to our calculations. And there’s your score. Keep it very simple right. Number two is and this is actually pretty easy to follow is we can’t ask our customers their age their risk level when they want to retire and then give them recommendations based on that criteria. Sean Tepper That is described as personalized financial advice. So very easy. Like okay, so don’t ask those personal questions. And number three everything has to be regular. And what does regular mean. It means all information we we put out has to be like every day or every week, which it’s we update our data every day. We can’t do and this is a common problem with a lot of discord and WhatsApp groups. Sean Tepper And so I’ve been told from the SEC, which is pump and dumps, is like, hey, go buy as much of GameStop by Tuesday. And then the very next day, without telling anyone, they’ll go sell a bunch of GameStop or whatever stock they they can come up with. And that is actually a common issue because you can make a lot of money in short order. Sean Tepper So, yeah, no, no irregular posting. It has to be regular posting. So yeah, those are the three rules with the publisher exclusion. And to be honest with you, but actually pretty easy to follow. Is social media helpful? Andrew Mitchem Yeah, yeah. That’s good. Do you find you mentioned on social media type of apps? Do you find that those, causing problems generally for people because they just think they’re going to find something that’s going to solve all their life’s financial problems? Sean Tepper You mean like our customer is going on social media and reading comments. Andrew Mitchem To make sure customers, but just general people out there and in general isn’t there going to find some app and follow something and it’s suddenly going to give them all the magical answers? Sean Tepper No. In general, I think most people are skeptical, which I think is good. They’re not going to like, you know, like, for example, they’re not going to come to tinker right away and be like, oh, this is this is my savior. That’s that’s not the case. We want people to be skeptical. And we always tell people like, don’t like, I’ll talk about Tinker all day, but don’t even take my word for it. Sean Tepper I always say, go to Trustpilot, see what our customers have to say first before you even think about it. And then our model is, it’s a trial 14 day trial. And then we also have a 30 day money back guarantee. So even when your credit card is charged, if you want to refund, we’re not going to fight you on it. Sean Tepper It’s like it’s 15 bucks. That’s right, that’s right. It’s like we’re not going to split hairs on this, but it’s like you want to create a platform that it’s very easy to join is very easy to learn about. You can see what your customers are saying. It’s easy to test drive. Those are kind of the boxes I like to check when I join a platform because I’m using other software to build TYKR, whether it’s a marketing software or analytics or email marketing or whatever, right. Sean Tepper I want those things. So I’m like, I’m going to do the same thing with my own platform. But coming back to the skepticism, I think it’s good. It’s good to have a healthy amount, and it’s good for people to not only, like join TYKR, but go have like join our competitors, see what they have to say. And sometimes you’ll get things to line up like let’s say it’s a stock you really like and you’ve got, you know, TYKR, Motley Fool and Seeking Alpha are all like, hey, this is this is a strong stock, not a buy stock, but its financials are strong. Sean Tepper That creates layers of confidence is how we phrase it. Yeah. Creating those layers of confidence gives people more confidence to move forward. Andrew Mitchem Yeah yeah that’s good. And I noticed also on your on your offer there that you talk about cryptos as well Matt. Obviously it’s the, the big thing that people want to talk about and we’ll see more recently we’ve seen some big drops as well. Yeah. How, how do people finding using your software or on cryptos. Andrew Mitchem Because it’s, it’s like one of the markets that we kind of cross over on. Sean Tepper Yeah. So with crypto we weren’t originally going to add it to the platform, but a few people were like, hey, can you add crypto from a tracking perspective? Now for context, we have three assets in TYKR. We have stocks, ETFs and crypto ETFs. It’s easy to analyze because it’s really just a bundle of stocks. So we analyze each individual stock. Sean Tepper We roll them all up. If it’s let’s say 500 stocks within an ETF. You can create you can calculate what is the average score within come to that on sale watch over priced. But when it comes to crypto as you know there’s no income statement cash flow statement A balance sheet is not a business, it’s just a digital asset. Sean Tepper But again, we had customers that were like, hey, you got a lot of good tracking tools, like you can set alerts on my dates and prices and really anything you want within TYKR. And so they’re saying like, can you add crypto within so we can keep track of all of our favorite assets in one clean location. And my response to that was, oh yeah, no problem. Sean Tepper We’ll add crypto to this tool. But there’s not a lot of analysis you can do there because again, it’s not a business. Multiple brokers or one? Andrew Mitchem Yeah, yeah. Fair enough. And also I noticed that you said about the broker connection. So one of your pricing models, that’s one broker three and five. Correct. What would be the reasons around someone needing, say, three brokers or five brokers as opposed to one. Sean Tepper Yeah. So the reason is typically your employer is going to issue you A41 like here in the states, of course, we get A41KI don’t know, in New Zealand you call it a pension like they do in, Europe. Andrew Mitchem Yeah. Kiwisavers called but yeah it’s that has is our name. Yeah. Sean Tepper Okay. Exactly. So you’re going to have that is going to be one retirement vehicle. And that’s typically set up with like here in the States. The two big ones are typically fidelity and Empower. There’s also Schwab. But then you’re probably going to want to do some trading on your own. So then here in the States some of the popular choices are Robinhood. Sean Tepper You’ve got E-Trade, you know. So there’s your second one. And then sometimes you’re going to have like an inherited account from a family member, you know, that could be on a different account. And if you don’t roll it over to your current broker, well, guess what? You’ve got a third broker sitting in place. But I get this. I’ve talked to people that have they’ve had more than five different brokers on my response. Sean Tepper So that is why. Yeah. So. Right. It’s it’s it seems unorganized. But we created the three tiers the premium premium plus an advanced premium. You get one broker premium Plus you get three in advance. You get five. We usually like 99.9% of the time. We don’t see people with more than five brokers. But like for example, between my wife and I, we have like we have three. Sean Tepper So yeah. Andrew Mitchem Okay. So with this allows someone to make their analysis and then connect directly through to that broker via your software. Is that how it works. Sean Tepper Yeah. Yeah. So yeah when when you join your broker and we’re really good complement to a broker will never replace it. We don’t want to be a broker dealer. That’s a legal name for their business model because we don’t hold any assets. We don’t hold people’s money. We’re just analytics. So yeah, when people join, you can sync up with your broker. Sean Tepper And what that does is it automatically updates your portfolio in TYKR every day. And it’s a much cleaner interface than most brokers out there. I, I’m never going to talk down about brokers, but it’s like their job is to protect people’s money. But when it comes to analytics dashboards or giving, like education or analytics, it’s that’s not their specialty, nor will it really ever be. Sean Tepper So we fill that gap, we complement and we make it easy to see because some people are like, I don’t I don’t actually know how much money I have because the dashboards in my broker’s so hard to use them, like just sync up your account TYKR and it’s going to kind of summarize it for you. Yeah, yeah. Andrew Mitchem That’s interesting. That makes a lot of sense. Makes life easy for people. And also I see that you have a mobile app. So can someone get the exact same information on the app. But they can all the desktop. Sean Tepper It’s pretty much the same experience. We try to release our features, if not the same day within the next week or two. Like if we need to deploy something to web or web app, we try to do the same thing to the mobile, that allows people to write. They can kind of analyze stocks and the gold or standing in line somewhere at Starbucks, whatever. Sean Tepper The mobile app, I will say this has an additional feature, which is the Duolingo inspired learning modules that kind of like swipe right, swipe left type feel. We don’t have that in the web app today, but we’ve had a few people say, hey, can you also add that to web? Well, that’ll come soon. But yeah, it’s pretty much the same experience. Andrew Mitchem And what’s the AI investing helper that’s not like yeah, humming live. Sean Tepper Oh, that could be going live. Well, recording this video is, February 9th. That could go live on the 11th. Okay. So that’s a feature where you can, like, interact with where you’re going to be the first to hear about it here. So it’s it’s an AI tool where you can ask questions like how do I get started? Sean Tepper Or what should I do with my first thousand dollars? Or, what when is the best time to buy or best to sell? You can interact with AI and it’s actually connected with TYKRs, data set, but also the the globe and it’s put a lot of rigor, rigor into place to make sure it’s not giving you financial advice, but it’s really leaning into giving you the data and TYKR. Sean Tepper So it’s for example, if you were to ask it, hey, can you tell me how to value a stock? It’s going to first go to TYKRs data set. And with the education and give you that information. And then some general information. You know that makes it sound nicer. And then kind of spit it out. So yeah, eventually we’ll release in multiple phases. Sean Tepper So the first phase we call the helper, the second phase is the portfolio builder in a will build hypothetical like for example, build me a portfolio of ten strong tech stocks or buy food stocks or car stocks, something like that. Yeah. And of course it’ll say this is not financial advice. This is a hypothetical portfolio. But yes. And then the third phase will be an analyzer. Sean Tepper So analyze my current portfolio. Like what changes would you recommend. And that that’s going to be really, really cool. So with I will say this and then I’ll stop talking. It’s a powerful tool because it can analyze large data sets in a short amount of time. But as we say at TYKR. And this is why when I become self-aware like Skynet, I’m going to be the first one to be targeted. Sean Tepper Right? It’s, it’s smart, but it’s not that smart. So you have to put a lot of rigor in a place, a lot of guardrails, because it can, as you know, hallucinate. Yeah. So we are bouncing AI up against logic and mathematics to make sure it does not say something stupid to our customers. TFTC creating a trading bot program Andrew Mitchem That’s interesting. We’re in the middle of all we’re saying in the middle. We’ve been testing this live for over a year of getting AI to create trading bots for us, and what it’s doing is it’s spitting at a heap of bots and going through, sort of live trading on, on, you know, that are not real money. We’re trading on the money. Andrew Mitchem And then each week, we’re using the human aspect, the common sense and the knowledge that we look at as technical traders to pick which bots we’re going to be running live for subscribers for the upcoming week. And, and we’re finding that that combination of using the AI for that speed and, you know, doing the, the hard work. Andrew Mitchem Yeah. And giving us some information. But like you said, the guardrail becomes the human input in the common sense of what we’re seeing as technically on a chart. There’s no point in, let’s say, say Bitcoin over the last few weeks has been, you know, crashing. So nicely. There’s no point in us selecting bullish, crypto bots for the upcoming week when there’s technical traders. Andrew Mitchem We’re looking at it dropping. So I find that adding a bit of human common sense and knowledge, along with the AI at this stage is a really nice combination. Sean Tepper You got to do it right, and you probably seen the, the bad choices some people have made. If you let I make all the decisions, you can pull yourself into a, really bad situation. Especially. I like what you’re describing with your bots or those bots actually executing trades. Andrew Mitchem They they can, but we are more trying to set it up so the individual gets the alert and still needs to manually go yes or no as well. Good call. Because I don’t want to get into that situation where it’s completely, you know, automated, although a lot of people are want it all automated. My job as someone who teaches people is you still have to have that knowledge first to understand how to run the bots and to make a commonsense decision. Andrew Mitchem Is it making a good call or not? Sean Tepper Yeah, I’m good answer there, because the other hour I was talking to one company that was have was looking to have AI execute trades automatically. I’m like, whoa, what if they just run with the line and it’s like, go right? Like if rapid fire trades for an hour or two, it’s like, yeah, put some people in a bad situation. Sean Tepper So yeah. Andrew Mitchem Anyway, yeah, we’ll avoid that. We’re both avoid that. Yep. Yeah, exactly. I use it for the hard work and still use the brain. And that’s the thing, isn’t it? You know, what you created and what we’ve created. We’re about educating people, empowering people to use their common sense. Because I still think, after all, it comes down to it, there’s nothing better as a human, as an individual to have that, that how and that it’s almost like that feelgood factor that I know I can analyze these markets and make sound decisions and do well, you know, that’s you, you. Sean Tepper You, yeah. You just hit on the, the number one thing our customers care about like in and this will give you and your audience a little moment for me when I first created TYKR, especially the Excel sheet, I was all about getting better returns. I’m like, well, if Warren and Charlie can do it, I can do it. Sean Tepper Well, when I went live, that was my focus. But then after talking to a few customers, I’m like, they don’t agree with that. There’s actually something more important. And fast forward, I probably talked to a few thousand customers by this point over five years, and the number one thing they care about is confidence. Now, having confidence to literally do it on your own. Sean Tepper That is the home run. Feeling that supersedes, you know, getting good returns any day. Like people sleep better at night. Just knowing that, Shawn, I, I can do this on my own. That is what I’m looking for. I’m like home. So we even though the returns in tech are good, like, we actually lean into confidence. Like how do we give people more confidence is actually the bigger priority now. Andrew Mitchem Yeah, yeah, I, I fully get it. You know, we’ve been operating since 2009. Come on, Ryan, the Ryan run around the world in 111 countries and the same thing we we asked people, we, of course, you know, want to know why people join. And then we follow up after three months, six months, year, two years and keep asking people it’s the community and that knowledge of knowing what you’re doing for yourself, to have that control with low risk and, you know, really good outcomes. Andrew Mitchem But up here and then I say to people, trade any trading into, investments is emotion, isn’t it? Your head in your heart. You have to control those two. And what we’re doing is providing platforms or education platforms to allow people to fulfill that, that dream successfully and safely. Sean Tepper Yep, yep. Andrew Mitchem So it’s huge. Yeah. We can have all the AI and all the risks, all the all these flash gadgets, but ultimately it still comes back to that human wanting to have confidence in what they’re doing with their own money. Sean Tepper That’s it. Yeah. Andrew Mitchem And no. And also not just handing it over to someone as well. I think it’s important. Sean Tepper They add it and it’s actually you’re kind of alluding to this. It’s in people’s best interest to let’s say AI does 90% of the work. You want to be the person you want the human being finishing that process? Yeah. Because they, they ultimately it’s it’s better for them from an educational standpoint and from an, confidence standpoint, like they should know what was done. Sean Tepper But now, I control things. I get to execute the trade. Yes. You know, that’s right, that you want people to have that power at the end of the day. 60,000 stocks analyzed Andrew Mitchem Absolutely. And the, your software obviously does a lot of analysis just to give myself and viewers and listeners a ballpark figure. What kind of number of stocks is it kind of looking at and analyzing? Sean Tepper Sure. Okay. Yeah. So we’ve got about 60,000 stocks in TYKR around the world’s. We are up. Yeah. We’re upgrading. They’ll get this in the next month or two. We’re switching our data provider. So we’re going to have in the states real time pricing. You will have 15 minute delay. But then we’re going to have actually I can’t guarantee all stocks around the world, but most that’ll bring us closer to about 75,000 stocks around the world. Sean Tepper And then we’ll also have most ETFs around the world, which I think is closer to about 10,000. I could following in that Bow Wow. Yeah. No wonder. Andrew Mitchem They need analysis software that. Sean Tepper Yeah, right, right. It’s what we do. We run into circumstances when people, you know, they’ll join from a smaller country and they’ll be like, hey, you don’t have any stocks from our country. Winner may arriving. So it’s a lot of those requests and it’s like we knew we had to get to this point eventually. Yeah. But yeah. But then you just give transparency. Sean Tepper We’re looking at Finn Hub is, the data provider that will help us get, the more stocks and ETFs around the world. Andrew Mitchem Wow. So when you see your clients in 50 countries, if, for example, someone was here in New Zealand and they don’t want to be, and 2:00 in the morning to trade the US markets, they could be trading like the Australasian markets. Yeah. So your software. Sean Tepper Absolutely. Yep. Andrew Mitchem Oh, fantastic. That’s really good. Yeah. That, that’s blowing my way. That number. One thing as a currency trader, there’s like about eight main currencies. And so that makes, hence why there’s nothing like this for the forex market. I’m guessing because we can look at charts and read a bit of news and kind of make your analysis voice your, the information. Andrew Mitchem Someone out there with that. Your software is almost got an impossible task. Sean Tepper Yeah. We I was just checking here in tick or how many stocks from New Zealand. We’ve got a little over 187. So, do you know I like the I assume it’s the new New Zealand Stock Exchange. Andrew Mitchem Yes. In Wellington. Nice. Sean Tepper Got it. Do you know how many stocks they have? Andrew Mitchem No. I’m not, I’m purely forex. I honestly don’t know. Sean Tepper Okay. No no worries. But we’ll hopefully fin Hub will be able to get us most from from your exchange. Yeah. But that’s just a good example of like absolutely. You know we again we get a lot of people from random countries like, hey, can you add more stocks from our country? It’s like, yeah, absolutely. We’re we’re on it. Andrew Mitchem Yeah. Well, and also it’s purely that time of day thing, isn’t it. Because the you know, I suppose I get used to forex which is 24 hours a day. It doesn’t matter where you live in your world, you can trade it in cryptos obviously seven days a week now as well. But when you’re talking US stocks, they are, you know, for someone on my side of the world, some quite awkward trading hours. Andrew Mitchem So what you’re providing now would allow me to trade some of the the Japanese stocks, I’m guessing. Oh, and then the Australian ones using the ones now that you mentioned. So you really do open up your product to being truly a global, tool for people. Sean Tepper Exactly. Yeah. Yeah. Andrew Mitchem That’s awesome. Sean, anything else you want to add about what we’ve not covered, about what you can help people with? Sean Tepper Yeah. Knowing that you’re more in the trading world and we’re more investing, I have to say this one detail, which is we do have about 10% of our customers are traders, give or take, and they’ll use TYKR as their starting points. You’re like, hey, let’s see. You’ve got like 100 ideas out there. Well, they’ll use TYKR to narrow it down from 100 down to ten. Sean Tepper Yeah. So that’s one main use case. It’s kind of like the short AI, as it’s been described to me. Is the short list creator TYKRs, the short list for like for traders. So so yeah, I want to add that tidbit as some people are like, well I’m not really into best thing. It’s like, you don’t have to be. Sean Tepper You can just use the tool to, narrow down your search. So I’ve selected one use case. Andrew Mitchem Yeah, that makes a lot of sense. That’s kind of how I was thinking about potentially using it as well. It’s like, makes a lot of sense to do all that, that work and get it down to something more manageable. Right? Yeah. Contact Sean Andrew Mitchem And what’s the best way that someone can contact you to find out more, about what you offer? Andrew Mitchem Sure. Well, how would. Sean Tepper They add, two ways to get in touch with, TYKR or myself? You can just go to tykr.com. That’s TYKR, tykr.com. And then, I’m really active on LinkedIn. Sean Tepper, Sean is spelled the Sean Connery way. Andrew Mitchem Yes. This with the voice. Sean Tepper Yeah. I wish I had strong Scottish voice. Yes. Andrew Mitchem Awesome. Hey, Sean, we’ll put links, of course, up here as well. And we will be sharing this in around the website and social media as well, so people can contact you finding a link here as well. It’s been awesome talking to you. I’ve learned a lot about the market. I don’t know a huge amount, and it’s fascinating to hear what you do and how, you know, you going to make it from when you mentioned 60, it still blew me away. Andrew Mitchem That number, from a ridiculous number of, stocks to help to analyze something in a, in a more simplified way. So, awesome to speak to you. Thank you. Your product looks amazing. I will be trying it. And, Yeah, look forward to it as well. Sean Tepper Thanks, Andrew. This is great. Andrew Mitchem Awesome. Thanks, Sean. Bye for now. Episode Title: #624: The Smarter Way To Pick Winning Stocks Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Book a Call with Andrew or one of his team now Click Here to Attend my Free Masterclass Checkout the Tykr Platform here.

Send a textLyss is back in the War Games arena, and things get competitive fast. We kick things off by cracking open the featured craft beers we're sipping on during the recording, then waste no time diving straight into the main event.This episode's mission: build the ultimate Buddy Cop Top 10. We cover multiple eras, styles, and genres while battling it out over the films that truly define the buddy cop formula. Alliances are tested, picks are challenged, and the debate gets heated.The big question hanging over the episode — does Vinnie finally cash in the Money in the Bank perk and steal someone's pick? You'll have to listen to find out. Expect plenty of drama, passionate defenses, and a few surprises as the list takes shape.We close things out by locking in the upcoming War Games and Watch This or Die topics, plus Chris drops a mystery care package that's guaranteed to play a major role in a future Watch This or Die episode.Grab a drink and step into the War Games.

The Atlantic's Charlie Warzel published a piece titled "This Is What It Looks Like When Nothing Matters," and Hawk reads through it, unpacking how internet nihilism has moved from the fringes of 4chan straight into mainstream politics and culture. The article traces how trolling, once confined to anonymous message boards, became the dominant language of the internet and a tool of political power. Steve Bannon saw the trolls as a political constituency and helped pipeline their energy into the MAGA movement, and that same anarchic, rules-don't-apply attitude now shows up in everything from Department of Homeland Security social media posts to Trump sharing content depicting Barack and Michelle Obama as apes.Hawk walks through the rise of figures like Clavvicular, a live streamer who hits his face with a hammer for attention and openly associates with white supremacist Nick Fuentes and alleged sex trafficker Andrew Tate. The concept of "nihilism by default" -- where the only purpose is self-promotion and feeding the social media machine -- connects these influencers to the chaos coming out of Washington.The Epstein files get the same treatment: three million pages released with no context, quickly turned into memes, AI slop, and fabricated screenshots. The files revealed just enough institutional rot to breed more cynicism without delivering justice to any of Epstein's victims or accountability for those connected to him. The kirkification phenomenon, the GameStop short squeeze, and ironic 9/11 memes all point to the same cultural collapse: events no longer have meaning, only content value. SUPPORT & CONNECT WITH HAWK- Support on Patreon: https://www.patreon.com/mdg650hawk - Hawk's Merch Store: https://hawkmerchstore.com - Connect on TikTok: https://www.tiktok.com/@mdg650hawk7thacct - Connect on TikTok: https://www.tiktok.com/@hawkeyewhackamole - Connect on BlueSky: https://bsky.app/profile/mdg650hawk.bsky.social - Connect on Substack: https://mdg650hawk.substack.com - Connect on Facebook: https://www.facebook.com/hawkpodcasts - Connect on Instagram: https://www.instagram.com/mdg650hawk - Connect on Twitch: https://www.twitch.tv/mdg650hawk ALL HAWK PODCASTS INFO- Additional Content Available Here: https://www.hawkpodcasts.comhttps://www.youtube.com/@hawkpodcasts- Listen to Hawk Podcasts On Your Favorite Platform:Spotify: https://spoti.fi/3RWeJfyApple Podcasts: https://apple.co/422GDuLYouTube: https://youtube.com/@hawkpodcastsiHeartRadio: https://ihr.fm/47vVBdPPandora: https://bit.ly/48COaTB

From sandblasting pipe yards at 17 to advising on $10-200M M&A transactions, Dr. Greg Waller shares proven strategies for maximizing business exit value, managing buyer expectations, and why the best time to prepare for sale is 3 years before you're ready. In this episode of the DealQuest Podcast, host Corey Kupfer sits down with Dr. Greg Waller, who advises clients on complex business valuation and buy-side and sell-side M&A transactions. Greg is the managing partner of Cornerstone Valuation and a partner and managing director of Transact Capital, leading a 20-person team focused on the lower middle to middle market. Given his academic and entrepreneurial background, he jokingly refers to himself as the Blue Collar Scholar. WHAT YOU'LL LEARN: In this episode, you'll discover why professional buyers and owner-operators require completely different M&A processes, how to set realistic expectations about the gap between business value and market price, and why starting exit preparation 3 years in advance dramatically impacts final sale outcomes. Greg explains how private equity-backed platforms are blurring the traditional lines between financial and strategic buyers, what makes labor-intensive businesses particularly attractive in the current market, and the cultural complexities that emerge in international transactions. You'll also learn why the most successful exits often begin as casual conversations years before any actual sale decision. GREG'S JOURNEY: Greg's path to M&A advisory started in Youngstown, Ohio at age 17. He walked into a pipe yard with a 4-inch piece of pipe, half sandblasted and coated, half rusty. He showed the crew his before-and-after demo and landed a contract to blast the entire yard over 18 months. That first deal led to years painting elevated structural steel, bridges, water tanks, and radio transmission towers. The industry changed when EPA regulations around lead-based paint removal came in. Working on a bridge one day, a coworker with cracked hands from years of painting looked at Greg and said, "Look at my hands, look at my face. What are you doing? You're a smart boy, why don't you go back to school?" That conversation took the rest of the season to sink in, but Greg eventually left the painting business and pursued his MBA at Ohio University. Faculty members encouraged him to pursue a PhD. His initial reaction was "Are you crazy? Why would I ever want to do a PhD?" But they convinced him, and he earned his PhD in finance at Purdue University. During his 20 years in academics at Ohio University and Virginia Commonwealth University (until May 2025), Greg maintained entrepreneurial ventures including valuation work as an expert witness, real estate development, buying his father's distribution company, and building a restaurant operating group. THE BLUE COLLAR SCHOLAR: Greg's unique combination of blue-collar operations experience and academic expertise gives him a perspective most M&A advisors lack. As he puts it, "I'm as comfortable talking to the janitor as I am to a board of directors, and just being able to put yourself in those shoes and having done it really gives you a different perspective." Having been under the hood of companies across virtually every industry through ownership and valuation work, he can get into the head of sellers in ways that matter when emotions run high and expectations need managing. KEY INSIGHTS: The M&A market divides into two buyer pools requiring vastly different processes. Professional buyers (private equity and strategics) respond to structured competitive auction processes with rigorous due diligence. Owner-operators typically engage through market-making platforms where price leads the conversation. Understanding which buyer type you're targeting shapes everything about your approach. Value and price represent fundamentally different concepts. Greg uses GameStop as his example: price went through the roof despite no fundamental change to the company, then crashed. Setting realistic expectations upfront with clients about valuation ranges prevents painful surprises when market realities emerge. The critical question: "If this thing ends up pricing at the lower end of the range, are we still good to go?" The consultative approach produces the best outcomes. Greg's most successful deals were "3 or 5 years in the making" where he identified value drivers early, helped clients clean up their operations, and positioned them properly before market entry. The best time to start thinking about hitting the market is 3 years ago. Private equity-backed platforms now dominate middle-market transactions, acting like strategics by bolting on competitors but bringing institutional capital discipline. This hybrid model has made the traditional financial versus strategic buyer distinction increasingly blurry. Labor-intensive businesses with skilled workforces are commanding premium multiples as immigration policies create labor challenges. Service providers to infrastructure industries and staffing companies are particularly hot. With massive private equity dry powder and 2024's weak M&A activity, the ingredients point toward a robust 2026 market. Perfect for business owners planning exits in the next 3-5 years, entrepreneurs considering M&A advisory relationships, and anyone interested in understanding how blue-collar operations experience combined with academic expertise creates differentiated advisory value. FOR MORE ON THIS EPISODE: https://www.coreykupfer.com/blog/gregwaller FOR MORE ON GREG WALLER:https://www.linkedin.com/in/h-gregory-waller-7193bb60/https://www.facebook.com/profile.php?id=61573615328301 FOR MORE ON COREY KUPFER https://www.linkedin.com/in/coreykupfer/ https://www.coreykupfer.com/ Corey Kupfer is an expert strategist, negotiator, and dealmaker. He has more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker. He is deeply passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast. Get deal-ready with the DealQuest Podcast with Corey Kupfer, where like-minded entrepreneurs and business leaders converge, share insights and challenges, and success stories. Equip yourself with the tools, resources, and support necessary to navigate the complex yet rewarding world of dealmaking. Dive into the world of deal-driven growth today! Episode Highlights with Timestamps [00:12:39] - Introduction: Greg Waller's credentials and Blue Collar Scholar background [00:16:32] - First deal at 17: Landing the pipe yard sandblasting contract [00:20:04] - The bridge painter who told him to go back to school and career transformation [00:29:05] - How blue-collar and academic backgrounds create unique M&A advisory perspective [00:30:48] - Two buyer pools: Professional buyers versus owner-operators and their different processes [00:35:57] - Value versus price conversation and the GameStop example [00:47:05] - "The best time to start thinking about hitting the market is 3 years ago" [00:48:21] - Why the line between financial and strategic buyers is increasingly blurry [00:50:15] - International deal complexities and cultural differences [00:54:19] - Market outlook for 2026: Labor challenges driving premium multiples [00:57:40] - What freedom means: Clean conscience and ability to chart your own destiny Guest Bio Dr. Greg Waller advises clients on complex business valuation and buy-side and sell-side M&A transactions. He is the managing partner of Cornerstone Valuation and a partner and managing director of Transact Capital, leading a 20-person team focused on the lower middle to middle market ($10-200M enterprise value range). His key industry verticals include human resource companies, staffing, industrials and infrastructure, healthcare, technology, and consumer products. Greg holds a PhD in finance from Purdue University and, until May 2025, was a tenured professor at Virginia Commonwealth University, where he taught courses and published research on corporate finance, mergers and acquisitions, and corporate governance. He previously taught at Ohio University. Greg is the son of a blue-collar entrepreneur and owned and operated an industrial painting company specializing in elevated structural steel infrastructure before pursuing his academic career. He has also been a partner in a real estate development firm and restaurant operating group, and now owns his family's industrial painting equipment distribution company. Given his academic and entrepreneurial background, he jokingly refers to himself as the Blue Collar Scholar. Host Bio Corey Kupfer is an expert strategist, negotiator, and dealmaker with more than 35 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author, and professional speaker deeply passionate about deal-driven growth. He is the creator and host of the DealQuest Podcast. Show Description Do you want your business to grow faster? The DealQuest Podcast with Corey Kupfer reveals how successful entrepreneurs and business leaders use strategic deals to accelerate growth. From large mergers and acquisitions to capital raising, joint ventures, strategic alliances, real estate deals, and more, this show discusses the full spectrum of deal-driven growth strategies. Get the confidence to pursue deals that will help your company scale faster. Related Episodes Episode 350 - Tom Dillon: Understanding Business Valuation and Exit Planning Realities Episode 325 - Kelly Finnell: Using ESOPs in Ownership Succession Planning Episode 330 - Pete Mohr: Building Enterprise Value and Exit Readiness Episode 339 - Solocast 74: Equitizing Key Employees and Succession Planning Strategies Follow DealQuest Podcast: LinkedIn: https://www.linkedin.com/in/coreykupfer/ Website: https://www.coreykupfer.com/ Follow Greg Waller:https://www.linkedin.com/in/h-gregory-waller-7193bb60/https://www.facebook.com/profile.php?id=61573615328301 Keywords/TagsM&A advisory, business valuation, exit planning, sell-side advisory, lower middle market, professional buyers, strategic buyers, private equity, business sale preparation, enterprise value, Blue Collar Scholar, deal structuring, owner-operators, business exit strategy, middle market M&A, exit readiness, business succession planning, international M&A, cross-border transactions, 2026 market outlook

Spencer Jakab is an award-winning Wall Street Journal investing columnist with 30 years of finance experience who transformed from emerging markets research director into a financial journalist exposing how everyday investors repeatedly get fleeced by Wall Street's latest schemes.Episode Sponsor: Fiscal AI is a modern data terminal that gives investors instant access to twenty years of financials, earnings transcripts, and extensive segment and KPI data—use my link for a two-week free trial plus 15% off: https://fiscal.ai/talkingbillions/03:00 - Spencer's origin story: Growing up in Queens as son of Hungarian refugees, discovering investing through Peter Lynch's "One Up On Wall Street" in college, despite his late father's unsuccessful attempts to spark his interest earlier.08:00 - The accidental career path: Taking every finance class at Columbia, landing in emerging markets analysis covering post-Iron Curtain privatizations, then pivoting to Wall Street Journal journalism after a chance plane conversation led to same-day writing test and job offer.15:00 - GameStop reality check: The meme stock phenomenon wasn't the democratizing revolution portrayed on social media—it was another example of retail investors getting manipulated while believing they were "sticking it to the man."25:00 - The casino-fication of investing: How Robinhood and app-based platforms gamified trading with confetti animations and frictionless execution, making speculation feel like a mobile game rather than serious wealth-building.35:00 - Why passive beats active: Spencer explains the brutal math—only 11% of active fund managers beat the market over 30 years, and individual investors perform even worse due to fees, taxes, and behavioral mistakes.45:00 - The finfluencer trap: Social media rewards reckless investing behavior because outrageous bets generate more engagement than boring, sensible advice—creating dangerous incentive structures that harm followers.60:00 - Bots and manipulation: Modern markets face new threats from AI-generated social media campaigns pumping meme coins and stocks, making it nearly impossible to distinguish genuine sentiment from coordinated manipulation.67:00 - Defining success: Spencer's powerful reflection on career choices—turning down potential hundreds of millions to do work he loves, echoing Warren Buffett's definition of success as having people genuinely care about you when you're gone.Podcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

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Tech News and Commentary Dave and Chris discuss GameStop closing 400 stores in the U.S. as the CEO aims for a $35 billion pay package, the U.S. Department of Justice probing Netflix’s acquisition of Warner Brothers Discovery, Microsoft’s next-gen Xbox, Open AI testing ads in ChatGPT, and more. Kameron Graveline joined Dave and Chris to […]

Join Danny, Molly, Zakk, Dave, and special guest Freddie New for industry-led opinions on important Bitcoin stories from the week.This week's topics:00:00 - Intro00:50 - Bitcoin price01:53 - B HODL Q&A02:03 - Q&A: Is Freddie excited about visiting Suffolk?04:03 - Q&A: What will B HODL do to get the flywheel running?05:14 - Q&A: Can you explain B HODL's CoinCorner loans?07:56 - Q&A: Is B HODL aiming for any BTC milestones?13:43 - Q&A: Will B HODL capitalise on stablecoins on Lightning?15:21 - Q&A: Do you think Strategy will need to sell?20:31 - Q&A: What needs to happen for mass BTC adoption?26:41 - Q&A: Are CoinCorner customers buying or selling right now?38:43 - Gold nearly adds Bitcoin's entire market cap in 1 day40:10 - GameStop potentially selling their Bitcoin41:23 - Average ETF buy is now down44:06 - $1m transaction on the Lightning Network47:45 - Crypto-Asset Reporting FrameworkBritcoiners is a Bitcoin podcast by CoinCorner (https://www.coincorner.com) - a global leader in Bitcoin and Lightning services.Join our Telegram:https://t.me/britcoinersFollow Britcoiners on X:https://x.com/britcoinersFollow CoinCorner on X:https://x.com/coincorner#coincorner #britcoiners #bitcoin #bitcoinpodcast #bitcoinnews

Guest: Larry Cheng is the Co-Founder and Managing Partner of Volition CapitalWebsite: https://www.volitioncapital.com/. AUM: Volition Capital has $1.8 Billion AUM on their 5th FundLarry's BioLarry Cheng is the Co-Founder and Managing Partner of Volition Capital, a growth equity firm focused on supporting founders building capital-efficient technology businesses. With over 25 years of investing experience, Larry has led investments in dozens of companies across Internet, e-commerce, software, and consumer sectors. Most notably, Larry was the first investor in Chewy, which became the most valuable e-commerce acquisition in history. He currently serves on public company boards such as GameStop and Grove Collaborative as well as several private company boards such as US Mobile, Rounds, Levanta and several others. Earlier in his career, he led investments at Fidelity Ventures and began in venture capital at Bessemer Venture Partners.Larry's entrepreneurial journey began early when he became Apple's youngest certified technician at age 13. While at Harvard, he launched a $400,000 laundry business and later became President of Harvard Student Agencies, a $4 million student-run company serving the greater Harvard community. He graduated with a B.A. in Psychology and played football for the Crimson. Larry is a frequent guest lecturer at institutions including Harvard Business School, MIT Sloan, and USC Marshall School of Business.

Are you looking to save time, make money, and start winning with less risk? Then head to https://www.ovtlyr.com.Hedge funds trapped again? That's the conversation right now. If you remember the GameStop chaos, you already know how fast things can go when shorts get squeezed. In this video, we sit down and really talk through what's happening, why it matters, and whether names like VRT in the AI space could be setting up for something big.This is not theory. This is real market psychology. Fear. Greed. Unlimited risk on the short side. When hedge funds are forced to buy back shares at higher prices, that buying pressure can create a chain reaction. And when retail traders pile in at the same time, things can move fast.We walk through the GameStop example step by step and explain why short squeezes are both insanely profitable and incredibly dangerous. Because yes, you can make life-changing gains. But you can also get destroyed if you are on the wrong side.Here's what we cover in plain English:✅ What a short squeeze actually is and why it explodes✅ How hedge funds can lose far more than they invested✅ Why stage two uptrends are the easiest money in the market✅ How OVTLYR helps you avoid stage four disasters✅ Which of the three stocks actually looks tradableWe also talk about Microsoft's recent weakness, the AI software panic, sector breadth, earnings risk, and why healthcare names can be pure volatility machines.If you've ever wondered how trends turn into rocket ships… or how to avoid being the one who funds the rocket… this video connects the dots.Watch it all the way through, share it with someone who needs it, and decide for yourself whether this is just noise or the start of another powerful squeeze.Subscribe to OVTLYR for disciplined trading strategies that actually make sense.

Robinhood has launched a public testnet for Robinhood Chain, an Ethereum-based layer-2 built on Arbitrum, with a broader rollout planned later this year.~This episode is sponsored by Tangem~Tangem ➜ https://bit.ly/TangemPBNUse Code: "PBN" for Additional Discounts!00:00 Intro00:10 Sponsor: Tangem00:30 Cycle different?01:30 Robinhood Chain01:45 Johann Kerbrat: Head to head w/Nasdaq02:30 Johann Kerbrat: Robinhood certified Developer apps04:00 Phase 104:50 Johann Kerbrat: dealing with liquidity06:40 Johann Kerbrat: Clarity & yields08:20 Cody Carbone: Done deal?09:00 $HOOD: Opportunity09:45 Base App11:50 Uniswap adds BUIDL12:15 CashApp12:30 Hong Kong Consensus14:00 Hong Kong Gold15:00 Yat Siu: AI agents16:45 Mr. Beast mainstreams AI agents18:40 Bigger than Bitcoin19:30 DCA-ing yet?#Crypto #Bitcoin #Ethereum~Retail Returning To Crypto?

Send us a textA snowed-in return turns into a wide tour of gaming's present: a rumored PlayStation Portal OLED, the slow fade of GameStop, an indie heist with cultural purpose, a polarizing He-Man trailer, and two stories that show gaming at its best and its worst.• Portal OLED rumors, pricing guesses, motion blur concerns• Cloud streaming value with PlayStation Plus Premium• GameStop closures in New York and beyond• Why big box retail struggles against digital sales• Boutique game shops vs chain convenience• South African indie about reclaiming stolen artifacts• Baldur's Gate 3 likely skipping Switch 2• He-Man trailer reactions and target audience gap• Grandma uses Minecraft to fund cancer care• Tragic Switch-related shooting underscores safety and accessWe out. Later man. Later. We'll see you soon, guys. We'll be back. Definitely. Definitely will. Later. We miss you guysSupport the show

Thank you to our sponsor! Fuse Bitcoin's collapse is accelerating. Continuing a descent that began last week, the asset this week has all the price progress made under the Trump administration. The price action begs the question why amid greater adoption and support. In this episode of Unchained, FalconX Head of Markets Joshua Lim highlights two main reasons for Bitcoin's regression and offers his outlook for the year. Is it 2022 all over? Plus, how gold's run resembles GameStop in 2021 and why Hyperliquid is a bright spot amid market weakness. Guest: Joshua Lim, Head of Markets, FalconX Links: Bitcoin Sinks as Markets Price In a More Hawkish Fed Has Bitcoin Failed to Live Up to the Digital Gold Narrative? Why HYPE Is Up While Every Other Crypto, Including Bitcoin, Is Down Learn more about your ad choices. Visit megaphone.fm/adchoices

The market witnessed a wild week of price action, shifting from a tech-led "bloodletting" to a massive Friday reversal. In this episode, Mark Longo, Russell Rhoads (Dr. VIX), and Mark Sebastian (The Greasy Meatball) break down the carnage in the Mag Seven, the "memification" of Bitcoin assets like MSTR, and why the VIX is struggling to hold onto its gains despite the chaos. Inside This Episode: Volatility Review: A deep dive into the mid-week route and the "mother of all reversals." Why the Dow and equal-weight S&P (RSP) hit all-time highs while big tech bled. The "Memification" of Everything: Mark Sebastian explains why Bitcoin and MicroStrategy (MSTR) are following the GameStop blueprint. VIX Term Structure: Analyzing the "hunched" curve and why front-month futures remain subdued. Russell's Weekly Rundown: A look at "unusual" weekly trades, including a massive $5 call buy on the 15 strike. The New 0DTE Frontier: First impressions of the new Tuesday/Thursday expirations for single-name equities like Tesla and Nvidia. Crystal Ball: The crew places their bets on where the VIX cash will land by next Friday's close. Contact/Links: Check out tastytrade.com/podcasts

The market witnessed a wild week of price action, shifting from a tech-led "bloodletting" to a massive Friday reversal. In this episode, Mark Longo, Russell Rhoads (Dr. VIX), and Mark Sebastian (The Greasy Meatball) break down the carnage in the Mag Seven, the "memification" of Bitcoin assets like MSTR, and why the VIX is struggling to hold onto its gains despite the chaos. Inside This Episode: Volatility Review: A deep dive into the mid-week route and the "mother of all reversals." Why the Dow and equal-weight S&P (RSP) hit all-time highs while big tech bled. The "Memification" of Everything: Mark Sebastian explains why Bitcoin and MicroStrategy (MSTR) are following the GameStop blueprint. VIX Term Structure: Analyzing the "hunched" curve and why front-month futures remain subdued. Russell's Weekly Rundown: A look at "unusual" weekly trades, including a massive $5 call buy on the 15 strike. The New 0DTE Frontier: First impressions of the new Tuesday/Thursday expirations for single-name equities like Tesla and Nvidia. Crystal Ball: The crew places their bets on where the VIX cash will land by next Friday's close. Contact/Links: Check out tastytrade.com/podcasts

Brian H. Waters discusses Reshona Landfair—the woman formerly known as "Jane Doe" from the 2002 R. Kelly tape breaking her silence with her memoir, Who's Watching Shorty? Plus he discusses Current outrage often centers on AI's ability to create "hyperrealistic" or "nightmarish" caricatures of public figures, which critics argue is being weaponized for misinformation.Rundown(1:48) R Kelly's victim, Reshona Landfair breaks her silence(8:05) Baltimore City Mayor, Brandon Scott says don't use chairs during snowstorm to save parking spot(11:03) GameStop says you cannot trade in significant others(13:16) Fake outrage over ChatGPT Caricature(16:24) NBA trades going crazy ahead of the deadline(19:19) Cameron Brink says she will do Playboy if...Watch Queen P.R. and Brian H. Waters recap Beyond the Gates every week on their show, Love in Dem Gates!https://www.youtube.com/playlist?list=PLtwLQ58o61G-q0VUfw0zk54pgkCKgfgp8

In “A Type of Valor,” the Black Lincoln Collective Podcast moves from hilarious real-life chaos to sharp cultural commentary and Black history. The crew opens with an unbelievable workplace story—an unhoused man accidentally getting buzzed into the office—and unpacks the uncomfortable realities of safety, assumptions, and boundaries.From there, they dive into a viral pop-culture moment: TikTok creator Romeo's Show, the catchy “Dr. Pepper baby” jingle, and what happens when a brand steps in and commercializes internet creativity. The conversation turns into a smart (and funny) look at authenticity, ownership, and how corporations reshape culture.The episode also salutes Black History Month with a spotlight on the 369th Infantry Regiment, the Harlem Hellfighters, and their legacy in World War I—tying the theme together with the show's recurring phrase: “a type of valor.” To close, the crew delivers their signature “stock report,” breaking down the ongoing spectacle of meme stocks like AMC and GameStop, plus the personalities and moments that keep the saga alive.Highlights: main themes & subjectsA chaotic office mishap that sparks a bigger conversation about homelessness, safety, and judgmentViral culture meets corporate branding: the “Dr. Pepper baby” moment and what commercialization does to creativityBlack History Month focus on the Harlem Hellfighters (369th) and their World War I legacyThe role of humor in talking about real history and real lifeMeme-stock talk: AMC, GameStop, and the ongoing lore around the movement and its figures #blcpodcast #podcastingforthepeople #funny #podcast #greenvillesc #scpodcast #yeahthatgreenville Listen at: https://americasfavoritepodcast.com Tweet the Show: https://twitter.com/blcworld Follow us on Facebook: https://www.facebook.com/blcpodcast/ Check us out on Instagram: https://www.instagram.com/blcpodcast/ Buy Fred and Allan Beer: https://www.patreon.com/blcworld

Given the recent closures of many of their stores across the country, we have decided to dedicate an episode all about everyone's favorite and most beloved game store, GameStop. Ok so maybe it's not everyone's favorite, and maybe not quite so beloved, but hey buying physical games in a physical store is becoming a bit of a rarity! We start off the discussion looking back at the origins of GameStop and what companies led to it's formation. Then we reminisce about our favorite (and not so favorite) memories of the workers, the trade-ins, and the store itself. We also play some rounds of trade-in value trivia as well as think about where the store is headed and what they could do to improve their fortunes. Speaking of fortunes, we of course have to touch on the GME stock drama. Whether you love it or hate it, there's plenty to enjoy in this episode. So grab your pro-player membership card, your brand new (but opened) headphones, and join us for this episode all about GameStop!

The Investing Power Hour is live-streamed every Thursday on the Chit Chat Stocks Podcast YouTube channel at 5:00 PM EST. This week we discussed:(00:00) Introduction(01:37) Microsoft's Earnings Breakdown(04:18) CapEx and Cloud Commitments(10:08) Meta's Earnings(12:38) Tesla's Earnings(28:18) Investments in AI (33:59) The State of the Automotive Market(36:04) Tesla's Valuation and Future Prospects(40:33) The Musk Empire and Its Financial Maneuvering(43:23) ASML's Growth and Market Position(46:14) GameStop and Michael Burry's Investment Philosophy(50:50) Small Cap Insights: Vital Farms(55:03) The Surge of Silver and Gold Prices(01:03:58) Meme Stocks and Market Speculation*****************************************************Subscribe to Emerging Moats Research: emergingmoats.com *********************************************************************Chit Chat Stocks is presented by Interactive Brokers. Get professional pricing, global access, and premier technology with the best brokerage for investors today: https://www.interactivebrokers.com/ Interactive Brokers is a member of SIPC. *********************************************************************Fiscal.ai is building the future of financial data.With custom charts, AI-generated research reports, and endless analytical tools, you can get up to speed on any stock around the globe. All for a reasonable price. Use our LINK and get 15% off any premium plan: ⁠https://fiscal.ai/chitchat *********************************************************************Disclosure: Chit Chat Stocks hosts and guests are not financial advisors, and nothing they say on this show is formal advice or a recommendation.

On this episode of Simply Money presented by Allworth Financial, Bob and Brian break down the Federal Reserve’s decision to hold interest rates steady and what it means for high-net-worth investors in 2026. They unpack the surprising drop in consumer confidence despite strong economic indicators, and analyze the growing risk of a government shutdown. Plus, how “Roaring Kitty” and the GameStop saga empowered retail investors – and what that could mean for your portfolio. The guys also answer listener questions on Roth conversions, skyrocketing RMDs, and managing early retirement health insurance. Finally, cybersecurity expert Dave Hatter joins to explain why your inbox might be the weakest link in your financial life.See omnystudio.com/listener for privacy information.

It's a brand-new episode of Sketching Up — hosted by Chris Schnabel and Matt Tornetta — and we're diving deep into the Mario Movie Sequel trailer (aka the “Galaxy” trailer) with way too many Nintendo theories. We break down the Super Mario Odyssey references, Yoshi's Island vibes, power-ups, pipes, Baby Mario/Baby Luigi, and whether the sequel is trying to cram Mario Galaxy + Odyssey + 3D World + Yoshi into one movie.Then we pivot into a nuclear gaming hot take: Backyard Baseball might not be as good as we remember… Plus: the wild world of retro game collecting, video game resale pricing, GameStop stories, and why nostalgia markets can get sketchy.Try Audible today — head to ⁠www.audibletrial.com/SchnabelStudios⁠ to start your 30-day free trial and get reading#nintendo #mario #supermario #mariomovie #mariotrailer #supermarioodyssey #yoshi #retrogaming #backyardbaseball #pablosanchez #gaming #nintendoswitch #podcastFollow Sketching Up:Instagram — ⁠https://www.instagram.com/sketchinguppod/⁠Facebook — ⁠https://www.facebook.com/sketchinguppod/⁠TikTok — ⁠https://www.tiktok.com/@sketchinguppod⁠Video edited by Chris SchnabelEpisode Produced by Chris Schnabel and Matt TornettaMusic by Kyle ScottSketching Up is a Schnabel Studios Production.Chapters:0:00 – Sketching Up intro + Mario Movie Sequel trailer reaction begins0:52 – Quick Mad Props shoutout (Rob Paulsen + Phil LaMarr)1:22 – HOT TAKE: Backyard Baseball isn't as great as we remember2:00 – Pablo Sanchez discourse: why he made Backyard Baseball legendary3:33 – Backyard Sports history + pro athlete additions (NHL era)6:40 – “You can't market Backyard Baseball without Pablo”8:10 – Comparing Backyard Baseball vs Mario Baseball / Nintendo sports games9:21 – Mario Movie Sequel trailer breakdown: Odyssey references + Yoshi reveal10:38 – Super Mario Odyssey desert world explained11:30 – Pipes, worlds, and why Mario logic never makes sense14:20 – Power-ups, fire suit, world-hopping concerns16:40 – Baby Mario/Baby Luigi + Yoshi's Island origin theory19:05 – Are they doing too much? Galaxy vs Odyssey vs Yoshi's Island debate21:45 – Multiverse-style worry: “too many worlds, not enough depth”26:10 – Golden Globes tangent + comedy/podcast awards rant30:30 – Ringer network + podcast ecosystem talk34:25 – “We're skipping Mario World” + sequel/franchise roadmap theories37:40 – Retro gaming shop talk: N64 prices, GameCube nostalgia, resellers41:00 – “Sealed” vs “resealed” collecting + why prices get insane42:20 – 3DS XL SNES edition pricing shock + store credit vs cash49:40 – GameStop trade-in culture + why nostalgia markets are brutal51:05 – Pokémon cards vs retro games: scummy resale debate53:15 – Comic book attic finds (Superman / Action Comics style stories)54:35 – How Chris scored the SNES 3DS XL + why it's worth so much now57:25 – Wrap-up + where to follow/subscribe (Sketching Up + Mad Props)

After building products at Microsoft (Xbox, Surface), a gaming startup acquired by Disney, Twilio, and Box, Vanessa Larco joined NEA where she led seed investments in Greenlight (debit card for kids), Majuri (C2C jewelry), and Limitless (acquired by Meta). She served on Robinhood's board for five and a half years through IPO and the GameStop crisis. In this conversation, Vanessa breaks down the specific traits that separate top 1% founders from the rest, why venture capital is experiencing structural chaos from simultaneous mega-fund expansion and generational transition, and why technical founders who deeply understand consumer behavior change represent the next wave of breakout companies. Topics Discussed: How customer-focused decision-making at Robinhood during GameStop contradicted public perception The specific paradox great founders must balance: maniacal focus versus recruiting ability Why venture is simultaneously dealing with fund size chaos and generational leadership transition The decision framework for staying in venture versus returning to operating Why consumer is radically underinvested despite users' demonstrated willingness to pay for "magical" experiences How AI tools create internet-scale behavior change by synthesizing information rather than just accessing it The authentic voice problem in VC personal branding and platform-specific challenges GTM Lessons For B2B Founders: Great founders possess maniacal focus on the right problems, not all problems: Vanessa describes exceptional founders as having an "insatiability" where "they pick the thing and they can focus on the thing and not get distracted by anything else and be maniacal about it." This isn't generic persistence—it's the ability to identify which specific problem deserves obsessive attention while ignoring everything else. Employees often push back ("we have these other fires"), but top founders maintain "one track" focus. The implementation challenge: most founders spread maniacal energy across too many initiatives. The best founders are "obsessive compulsive about how they build" on 1-2 things maximum, then deliberately de-prioritize everything else, even when it feels irresponsible. Incentive structure misalignment creates unwinnable scenarios: During GameStop, Robinhood faced retail traders whose incentives were fundamentally incompatible with traditional market participants. As Vanessa notes, "if your team and your company is bound by a certain set of incentives and you're up against someone with a very different set of incentives, that never really ends well." The Wall Street Bets mantra—"we can stay irrational longer than they can stay solvent"—explicitly weaponized this mismatch. For founders: map not just competitor strategies but their underlying incentive structures. Are they optimizing for growth, profitability, strategic acquirer appeal, or something else? When your incentives conflict with a market participant's (customer, partner, regulator, competitor), you cannot win through superior execution alone—you need structural repositioning. Technical founders who ship faster capture AI-era market position: Vanessa specifically seeks "technical founders with an eye for consumer behavior change" because "speed is really important in this era." This isn't about being first to market—it's about iteration velocity. When foundational models improve every few months and user expectations evolve weekly, the team that can "deliver on it faster than anyone else" compounds advantages. Non-technical founders add product/sales/fundraising cycles between insight and deployment. Technical founders collapse these cycles, testing behavioral hypotheses in days rather than quarters. In markets where "what's possible" changes monthly, this velocity differential determines who owns category definition. Behavior change wedges beat feature superiority: Vanessa looks for founders who understand "how this new technology is changing how people behave and changing what people expect of their tools" and can identify "what need can I fulfill better because I can build this thing that couldn't be built before." The critical insight: users don't adopt based on capability—they adopt when technology enables a behavior they already want but couldn't execute. She emphasizes products that are "radically faster, radically cheaper, radically easier" (not 10% better) and founders who understand "how they'll wedge into behaviors." Implementation framework: don't ask "what can this technology do?" Ask "what behavior is currently blocked by cost/speed/complexity that this technology removes the blocker for?" Category creation happens post-problem-solving, not pre-launch: Discussing Robinhood's positioning, Vanessa reveals how the team "stayed focused" on enabling "people to continue participating in the markets" rather than defending an abstract category. The company focused on structural problems (settlement times, capital requirements) rather than category messaging. For founders: solve the acute problem your customer articulates, even if it seems tactically narrow. Category definition emerges after you've solved related problems for enough customers that the pattern becomes obvious. Premature category creation forces you to defend an abstract positioning rather than deepen specific problem-solving. Personal brand building only works at the intersection of authenticity and utility: Vanessa admits "I can't find my authentic voice on Twitter to save my life" and her successful posts are "when I'm on an airplane and it's delayed by like over an hour and I'm angry." Meanwhile, "video and audio, way more my comfort zone" but requires "discipline that I don't think I yet possess." The lesson for founders: audience building helps ("people then know what you are, what you stand for... it helps establish trust faster, it helps people find you") but forced authenticity backfires. Better to own one channel where your natural communication style works than maintain mediocre presence across all platforms. LinkedIn for thoughtful analysis, Twitter for real-time reaction, podcasts for deep conversation—pick the format that doesn't require you to perform. // Sponsors: Front Lines — We help B2B tech companies launch, manage, and grow podcasts that drive demand, awareness, and thought leadership. www.FrontLines.io The Global Talent Co. — We help tech startups find, vet, hire, pay, and retain amazing marketing talent that costs 50-70% less than the US & Europe. www.GlobalTalent.co // Don't Miss: New Podcast Series — How I Hire Senior GTM leaders share the tactical hiring frameworks they use to build winning revenue teams. Hosted by Andy Mowat, who scaled 4 unicorns from $10M to $100M+ ARR and launched Whispered to help executives find their next role. Subscribe here: https://open.spotify.com/show/53yCHlPfLSMFimtv0riPyM

Welcome to Omni Talk's Retail Daily Minute, sponsored by Grocery Dealz and Mirakl.In today's Retail Daily Minute, Omni Talk's Chris Walton discusses:Amazon closes all Amazon Fresh and Amazon Go stores, pivoting to expand Whole Foods with 100+ new locations as it admits failure in creating a differentiated grocery format.Michael Burry discloses he's been buying GameStop shares as a long-term value play, betting on CEO Ryan Cohen's capital allocation strategy rather than meme stock speculation.Meta tests new premium subscriptions across Instagram, Facebook, and WhatsApp, offering exclusive features and AI capabilities while keeping core experiences free.The Retail Daily Minute has been rocketing up the Feedspot charts, so stay informed with Omni Talk's Retail Daily Minute, your source for the latest and most important retail insights.Be careful out there!

Health insurers face pressure after a new Medicare proposal. How meme traders have changed investing, five years after the GameStop mania. Plus, is OpenAI's hiring slowdown a canary in the tech jobs coalmine? Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Five years ago, on January 27th, 2021, the frenzied buying and speculation in Gamestop hit its apex. In this short podcast, I look back on one of the more fascinating, and dare I say, dangerous, risk events in modern day markets. The stock was subject to an outright speculative attack. But not the kind most CEOs complain about. This was not Soros taking down the British pound in 1992. This was a retail army of Reddit bandits whose buying power was nothing individually, but everything collectively. This was an attack not by a short seller, but against one. We learn a great deal about markets by studying periods when things run amuck. GME event is one of them, the most intense “stock up, vol up” episode in memory.

On this week's sode, we're back baby! Blursties are over, the holidays are over, the new year is over, and all that's left is…the rest of January! Ubisoft is crashing and burning, GameStop is closing hundreds of stores, and the CEO of Epic Games comes out in support of AI child porn. Then we gush about Planet Crafter Toxicity until you turn off the episode. It's gonna be a good one! 

Market update for Tuesday January 27, 2026.Follow us on Instagram (@TheRundownDaily) for bonus content and instant reactions.In today's episode:Gold hits record levels while the dollar slides and Bitcoin falls behindHealth insurers sink after the Trump administration signals tighter Medicare Advantage paymentsGM shares jump as the automaker leans into gas-powered trucks and boosts buybacksMicron rallies on a $24B chip investment while Boeing slides despite solid earningsMichael Burry says he's buying GameStop

Health insurance stocks plunge after an update related to plans for a smaller-than-expected Medicare rate increase. Then five years after the GameStop trading frenzy. How retail traders are still playing a major role in the market. Plus, the CEO of food distributor Sysco. On earnings and what he's seeing in terms of food inflation. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In der heutigen Folge sprechen die Finanzjournalisten Nando Sommerfeldt und Holger Zschäpitz über Ekstase bei den Edelmetallen, schwächelnde Geburtstagskinder und die Nordsee-Pakt-Profiteure. Außerdem geht es um Newmont, USA Rare Earth, Nvidia, Coreweave, Cloudflare, Orsted, Vestas, Intel, United Health, Friedrich Vorwerk, Opendoor, Rocketlab, Intuitive Machines, GameStop, Microsoft, Meta, Tesla, Apple, ASML, SAP, ServiceNow, OHB, Airbus und hier geht's zum wöchentlichen AAA-Newsletter: https://www.businessinsider.de/informationen/newsletter/alles-auf-aktien/ Wir freuen uns an Feedback über aaa@welt.de. Noch mehr "Alles auf Aktien" findet Ihr bei WELTplus und Apple Podcasts – inklusive aller Artikel der Hosts und AAA-Newsletter. Hier bei WELT: https://www.welt.de/podcasts/alles-auf-aktien/plus247399208/Boersen-Podcast-AAA-Bonus-Folgen-Jede-Woche-noch-mehr-Antworten-auf-Eure-Boersen-Fragen.html. Der Börsen-Podcast Disclaimer: Die im Podcast besprochenen Aktien und Fonds stellen keine spezifischen Kauf- oder Anlage-Empfehlungen dar. Die Moderatoren und der Verlag haften nicht für etwaige Verluste, die aufgrund der Umsetzung der Gedanken oder Ideen entstehen. Hörtipps: Für alle, die noch mehr wissen wollen: Holger Zschäpitz können Sie jede Woche im Finanz- und Wirtschaftspodcast "Deffner&Zschäpitz" hören. +++ Werbung +++ Du möchtest mehr über unsere Werbepartner erfahren? Hier findest du alle Infos & Rabatte! https://linktr.ee/alles_auf_aktien Impressum: https://www.welt.de/services/article7893735/Impressum.html Datenschutz: https://www.welt.de/services/article157550705/Datenschutzerklaerung-WELT-DIGITAL.html

Chuck Zodda and Mike Armstrong discuss Michael Burry saying Japanese yen recovery is a risk to US stocks. Voters see a middle-class lifestyle as drifting out of reach. Longing to stop working? Retiring early might not be the answer. Why people still matter in the AI era. Meme stocks turn five. Will there be another GameStop?

BS Section and House Keeping Discord Server geekoholics.com/discord/ Whatcha Been Playing? The Plucky Squire Terminator 2D No Fate Battlefield 6 Marvel's Rivals - Deadpool News:  Cross Platform / PC / Misc. GameStop reportedly shuts hundreds of US stores as CEO strives for $35bn pay packet "A sad end to a sad story" - fond Anthem farewells begin as BioWare's Destiny-like game reaches last day of operation The Division 3 creative director has suddenly left to join Battlefield Studios Ex-Assassin's Creed boss Marc-Alexis Côté sues Ubisoft after his surprise and "disguised dismissal" Ubisoft Cancels Prince of Persia remake Nintendo  The first Lego Pokémon sets have been revealed, including a $650 Charizard, Blastoise and Venusaur statue  Zelda: Ocarina of Time Lego set leaks, and Ganon looks fierce Nintendo's Japan dominance continues as Switch 2 fuels 40% market growth in 2025 Donkey Kong Country Returns HD has new Switch 2 update PlayStation Marathon releases March 5, new Limited Edition DualSense controller revealed   Xbox Forza Horizon 6's release date might have been revealed early, and it's allegedly coming sooner than anticipated | Eurogamer.net PSA's: Epic Games Store Freebies: Rustler - Grand Theft Horse (Styx currently) Free 4 All Alien: Earth 2 Best of 2025 lists are being released on the explosion Network Old Guard. Old Guard 2 K Pop Demon Hunters New PS5 Pro setup and transferred today   Help support the show: - Subscribe to our Twitch channel http://twitch.tv/geekoholics - Please review the show (bit.ly/geekoholics) on Apple Music, Apple Podcasts and to share with your friends. Reviews help us reach more listeners, and the feedback helps us to produce a better show. Join our Discord server: CLICK HERE

Financial journalist and author of the new book 1929, Andrew Ross Sorkin, joins Sam to talk about the parallels between 1929 and now and, and how while history does repeat itself, there are some comparisons that don’t work. Sam explains Soul Cycle vs. Peloton, they rehash the Gamestop frenzy, why the lottery is a “tax on the stupid,” and get rich quick schemes. They unpack what Venezuela means for the American economy, and Sam begs Andrew to make a period piece out of his new book even though it would break the bank. Keep up with Samantha Bee @realsambee on Instagram and X. And stay up to date with us @LemonadaMedia on X, Facebook, and Instagram. For a list of current sponsors and discount codes for this and every other Lemonada show, go to lemonadamedia.com/sponsors.See omnystudio.com/listener for privacy information.

There is a new Yu-Gi-Oh banlist out for the TCG, a Pokemon shop was held up at gunpoint, somebody found an infinite money glitch at GameStop, and we ponder how Yu-Gi-Oh packs could be made more fun to open.

#391"The things that create the geometry."Roundtable2025.05.29Your nice hosts all secured a Switch 2 pre-order... from a certain point of view. Then, Stephen examines the body, Mark attempts a vocabulary, and Lydia has recommendations.Chants of Sennaar - WikipediaNintendo Switch 2 preorders were a total mess — at first - Jay Peters, The VergeMissed out on a Nintendo Switch 2 pre-order? GameStop and Best Buy will have mo… - Demi Williams, TechRadarWhat Happened With Future Club0:22:17Stephen McGregorIRLProductionPart-Time Hero Campaign Ending - Future Club, KickstarterDesign Surface Area0:48:57Mark LaCroixGame DesignRubber duck debugging - Wikipedia

On this week's episode ,Kiaun will discuss Ubisoft canceling 6 projects,Xbox will allow you to play games for free by watching ads,Nintendo allegedly has a leaked date for a AAA game coming to Nintendo Switch2 and Game Stop looks like their best days are behind them.

Well Star Wars fans can continue to argue, because Kathleen Kennedy stepping down certainly wont stop them. But something to stop to listen to, is George RR Martin telling all to the Hollywood Reporter. Plus, Fallout Season 2 is not falling behind season 1, people just don't remember how TV works. Ubisoft decided to lay a big one on the gaming industry by cancelling another Prince of Persia game, and Netflix wants to keep WB movies on the big screen if the merger goes through. That and more on this weeks episode.

S&P futures are up +0.4% and pointing to a higher open today following Tuesday's plunges. Asian equities closed mostly lower on Wednesday, though losses were more contained. Japan was weighed down by financials amid concerns over unrealized JGB losses. Greater China markets performed better, and South Korea's Kospi also ended higher, driven by tech and semiconductor strength. European markets are trading lower as markets remain cautious due to lingering trade tensions. Companies Mentioned: Energy Fuels, GameStop, Community Health Systems

We had to record the show on MLK Day because Erick was out at sea. Merv talked about what should be done for the 400th show and how much AI might be used. There was also a bit of a rant about Trump and what he's done in the Orlando area. Ever heard of a meme coin? Well, now there's a meme game, thanks to GameStop. Erick talked about going to Texas, and Zack tried to hype him up. Zack also managed to hit his penis like a buzzer on a game show find out why. The boys talked about going on a cruise and shared some great stories. All of that and so much more on the show today.   Links: Rev. Negative - Space God The Podcast IG Erick's Tech Website Erick Feiling IG Zack Stack IG

The Wealth Formula Podcast is one of the longest-running personal finance podcasts still standing. For more than a decade, I've shown up every single week to talk about investing, markets, and the forces shaping the economy. What's interesting is how much my own thinking has evolved over that time. Early on, I was more rigid. I was—and still am—a real estate guy. But back then, I didn't give much thought to ideas outside that lane. I was dogmatic, and I didn't always challenge my own beliefs. Time has a way of doing that for you. I've now lived through multiple market cycles. I've watched the stock market melt up to valuations that felt absurd—and then keep going. I've seen gold go from flat for a decade to parabolic over a year. I've seen interest rates sit near zero for a decade and then snap higher at the fastest pace in modern history. And I've learned, sometimes the hard way, that diversification is about survival and that every asset class has its day. One lesson I learned that I am thinking a lot about these days is: ignore major technological shifts at your own peril. Back in 2014, I first started hearing people talk seriously about Bitcoin. At the time, I dismissed it. I listened to the critics, was convinced it was a scam, and didn't take the time to truly understand it. That was a mistake—not because everyone should have bought Bitcoin, but because I ignored a structural change happening right in front of me. Bitcoin went from a cypherpunk expression of freedom to the largest ETF owned by BlackRock. Today, the dominant story is artificial intelligence. And whether you love stocks, hate stocks, prefer real estate, or focus exclusively on cash flow, you cannot afford to ignore AI. This isn't a fad. It's a general-purpose technology—on the scale of electricity, the internet, or the industrial revolution itself. That doesn't mean it's easy to invest in. It's hard to look at headline names trading at massive valuations and feel good about buying them today. But investing in AI isn't about chasing a single company. It's about understanding second- and third-order effects: energy demand, data centers, productivity gains, labor displacement, capital flows, and how blockchain and decentralized systems intersect with all of it. What experience has taught me is this: you don't need to be first to invest—but you do need to be early in understanding. If you wait until something feels obvious, most of the opportunity is already gone. This week's episode of the Wealth Formula Podcast is focused squarely on AI and blockchain—what's real, what's noise, and where the long-term implications may lie. Listen to this episode. You'll come away smarter. And years from now, you may look back and realize this was one of those moments where paying attention really mattered. Transcript Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.  Welcome everybody. This is Buck Joffrey with the Wealth Formula Podcast. Coming to you from Montecito, California. Today we wanna start with a reminder. We are in a new year and we are already doing deals, uh, through the Wealth Formula Accredit Investor Club. You can go and sign up for that for free. Uh, wealth formula.com just hit investor club and you just get on there and, and you’ll get onboarded. And from there, all you gotta do is wait for deal flow and webinars coming to your inbox. And, um, you know, if nothing else, you learn something. So go check it out. Uh, go to. Wealth formula.com and sign up for Investor Club now onto today’s show. Uh, the, it is interesting. I don’t know if you are aware it’s a listener, but we are, wealth Formula is, uh, probably I would say one of the, certainly in the one of the top longest running personal finance podcasts still. Standing. Uh, I’ve been around, well, I think the first episode was on like 2014, so it was a long time, but in earnest, you know, at least for over a decade. And, you know, during that time, I’ve shown up every week, every single week. Don’t Ms. Weeks, but none, none. Isn’t that incredible? I’ve shown up, uh, talked about investing and talked about very way markets are working, forces, shaping the economy, all that kind of stuff. But you know, as you can imagine, as a. As a younger individual versus, um, my crusty self. Now, you know, a lot of my own thinking has evolved over that time, you know, back then. And I, you know, I think this appealed to some people, but, um, you know, I was really dogmatic. I’m a real estate guy, right? And I still am a real estate guy, but back then I wouldn’t give anything else the time of day to even think about, you know, and, and, uh, I, I, you know. I was dogmatic and didn’t always challenge my own belief systems. Um, I’m different now, right? I’ve softened And time is a way of, of changing all of that dogmatic stuff for you. You know, I’ve lived through multiple market cycles. I’ve watched, well, I’ve watched the stock market, which I, which I always maligned, you know, melt up to valuations. Uh, that felt absurd. And then keep going higher. I’ve seen gold, which was kind of ridiculous for the longest time. I watched it for like a decade, just pretty much flat, and then it goes parabolic. Over the last year, I’ve seen interest rates sit near zero for a decade and then snap higher. Uh, not even as time, just launch higher at the fastest space in modern history. And I’ve learned sometimes I guess, the hard way that diversification is about survival and that every class, every asset class has its day. Just like every dog has its day. And um, you know, one other lesson that I learned that I’m thinking a lot about these days is ignore major technological shifts at your own peril. So what am I talking about? Well. It’s kind of a, it is a technological shift, whether you think it about not, but Bitcoin. Okay. Back in 2014, I first started hearing people talk seriously about Bitcoin, and at that time I dismissed it. I was, uh, I was listening to critics beater Schiff that constantly called it a scam, said it was going to zero and so on. I didn’t, I didn’t take the time to truly understand it, to try to understand it the way I understand it now, that makes me a believer in Bitcoin. That, of course was a big mistake, not because, you know, everyone should have bought Bitcoin and, uh, back then, well, they, you know, would’ve been nice if they did, but because fundamentally I ignored something that was a structural change happening right in front of me. And since then, Bitcoin went from a cipher punk expression of freedom to the large CTF owned by BlackRock today. The dominant story is actually artificial intelligence. Now, whether you love stocks, hate stocks, prefer real estate focused exclusively on cab, whatever, you cannot afford to ignore ai. It’s not a fad. It’s a general purpose technology and a technology shift, and the scale of electricity. The internet bigger than the internet, bigger than the industrial revolution. Now, that doesn’t mean it’s easy to invest in. I mean, I’m gonna go invest in AI and make a bunch of money because I mean, what does that even mean? It’s hard to look at headline names, trading at massive valuations like Nvidia and all that right now, and saying, oh, I’m gonna go buy that. Who knows? That’s gonna work out. When I talk about investing in AI isn’t really just investing in stocks or any individual company or data centers or whatever. It’s about understanding. The second and third order effects, energy demand. You know, as I mentioned, data centers, productivity gains, labor displacement, capital flows, and how blockchain and decentralized systems intersect with all of that. It is very, very complicated. Um, but it’s really important to start to try to understand, you know, an experience that stop me is this. You don’t need to be the first to invest, but you do need to be early in understanding. If you wait until something feels obvious, usually the opportunity’s gone by then. And you know, the thing about AI is even if you think it’s obvious now. The reality is that most people haven’t really caught on. Maybe they played with chat GPT, but I don’t think they’re understanding what this whole, you know, this thing is gonna do to our world. Um, anyway, so that is what this week’s episode of Wealth Formula Podcast, uh, is about. It’s about AI and also, um, a little bit about, you know, bitcoin and blockchain and that kind of thing. Um, we’re gonna talk about what’s noise, uh, you know, where the long, what the long-term, uh, implications are all of this stuff. This is a show that, uh, I really enjoy doing really, really good stuff. Um, so make sure you listen in. We’ll have that interview for you right after these messages. Wealth Formula banking is an ingenious concept powered by whole life insurance, but instead of acting just as a safety net. The strategy supercharges your investments. First, you create a personal financial reservoir that grows at a compounding interest rate much higher than any bank savings account. As your money accumulates, you borrow from your own bank to invest in other cash flowing investments. Here’s the key. Even though you borrowed money at a simple interest rate, your insurance company keeps paying you compound interest. On that money, even though you’ve borrowed it, that result, you make money in two places at the same time. That’s why your investments get supercharged. This isn’t a new technique. It’s a refined strategy used by some of the wealthiest families in history, and it uses century old rock solid insurance companies as its backbone. Turbocharge your investments. Visit Wealth formula banking.com. Again, that’s wealth formula banking.com. Welcome back to the show, everyone. Today. My guest on Wealth Formula podcast is Jim Thorne, chief Market strategist at Wellington. L is private wealth with more than 25 years of experience in capital markets. He’s previously served as chief capital market strategist, senior portfolio manager, chief economist, and CIO. Uh, equities at major investment firms and has also taught economics and finance at the university level. Uh, Jim is known for translating complex economic, political, and market dynamics into clear actionable insights to help investors and advisors navigate long-term capital decisions. Uh, Jim, welcome with the program. Thanks for having me Buck. Well, um, Tim, I, I, I, uh, had been following a little bit of, uh, what you discuss on, uh, on X and, um, one of the things that caught my eye is, you know, your, your narrative on, on ai, a lot of people are tend to be still sort of skeptical of AI and what’s going on, uh, with the markets. Um, uh, but at the same time, uh, there’s this. Sense. I think that ignoring AI altogether as an investor is, is, is downright potentially dangerous. So, uh, at the highest level, why is AI something people simply can’t dismiss? Well, we live in an, uh, uh, you know, many other people have coined this term, but we live, we’re living in an exponential age of, of technological innovation. And, you know, AI and I’ll just add into their, uh, blockchain is just the normal evolutionary process that, you know, for me started when I left graduate school and came into the business in the nineties where everybody had this high degree of skepticism of the computer and the, the, the phone, the, the. And the internet. And so, you know, what we do is we go through these cycles and there are periods of time where the stars align. And we have a period of time where we have what I would call an intense period of innovation where I would suggest to you that. People are skeptical. Skeptical, and yet at the same point in time, they very early on in the, in the, in the trade, call it a bubble when it’s not. And so I think it comes from the position of ignorance. One, I think two, fear, and then three. If you think about if you are an active manager, I in a 40 ACT fund, um, you know, and you’re sitting there with, uh, you know, mi. Uh, Nvidia at, you know, eight or 9% of your index. And that’s a big chunk that you’ve gotta put into your fund, uh, just to be market neutral. So there’s a lot of people that hate this rally. There’s a lot of people that are can, going to continue to hate this rally. But the thing I anchor my hat on are a couple of things. Look at if this is no different than the railroad. Canals, any major technological innovation, will it become a bubble? Yes. Just not now. So, so let’s follow up on that, because a lot of people think, or are talking about the, do you know the.com bubble, uh, comparisons, and you’ve argued that that sort of misses the real story. So, so where are we getting it wrong right now? Are those people getting it wrong? In the nineties buck, you’d walk into a bar and there wouldn’t be ESPN on there’d be CNBC on people were getting their jobs to become day traders. Folks didn’t go to the go to university because they were basically getting their white papers financed. You had companies that were trading off of clicks. So I lived that. Anybody who is of a younger generation has no idea what a bubble is, and it’s specious and pedantic for them to use that term when they have no clue about what they’re talking about. But you did mention that it could become a bubble. How do we know when it does become a bubble? Oh, it’ll become a bubble. Well, when, when, when you know, the, what, what I am looking for is, you know, when we, when the good investment opportunities start to dry up, when liquidity starts to dry up. So what I, it’s not about valuation, to me it’s about liquidity. So in 2000, what, and I’m roughly speaking, what went down was you had all these companies that were trading at Strat catastrophic valuation, this stupid valuations, and you walked in one day and they didn’t get financing. And if you read the prospectus or you followed the company, you knew that they were not going to be free cash flow positive for another two or three rounds of financing. All of a sudden you walked in and everybody goes, oh my God, this thing, you know, trading at 250 times sales. And everybody went, yeah, of course. And so what it was is, was when does liquidity dry up? So I’ll give you a date, um, you know, with Trump’s big beautiful bill act. 100% tax deductibility of CapEx and that goes until Jan 1, 20 31. So to me, that’s a very motivating factor for people to, um, invest. The last thing I would say to you in more of a game theoretic context book is, look, if you are a big tech company and you don’t invest in ai. You are ensuring your death. Yahoo, Hela Packard. I can go through the list of companies that cease to invest, so they’re looking. If it was you and I when we were running this company, I would say, dude, we gotta invest because if we don’t have a poll position in this next platform, whatever it is, we’re done. We’re toast. And I think that’s why you’re seeing all these hyperscalers spending as much money as they are. ’cause they get this, they saw it. So, you know, you framed ai not necessarily as a a tech trade, but as a capital expenditure cycle. Can you explain that to people? Well, what we need to do is we need to build out the infrastructure of ai. Then, and that’s the phase that we’re in right now. So it’s more like we’re building out all of the railroads, the railway tracks and the railway stations across the United States back in the 18 hundreds. And then we’re gonna go through that building phase. And then as that building phase goes, some companies, some towns, are going to basically realize and recognize what’s happening and start to basically take ai. Bring it into their business model, into enhanced margins. Right. So right now we’re building it out. I mean, you know, we all focus on the hyperscalers, but the majority of companies, pardon me, governments. Individuals, they haven’t used AI and, and what is interesting about this is back in the nineties, they were talking about how the internet had to evolve to be much more. You know, uh, have critical thinking in, in, in it. And it was more explained when you went to these conferences, as you know, you know, think about this. You’re hearing this in 99, okay? Not today. You go in and you ask Google or dog pile at the same time, or excite, okay? You would say, I wanna go to Florida in the third week of March and I wanna stay here and I wanna spend this amount of money and I wanna rent a car. Plan it for me. And they would come back and they would tell you that it would come back and it would, it would, everything would be there. And you would have your over here and all you would have to do is drop your money and you had your thing planned. So none of this is as, it’s aspirational, but we’ve heard it before. And in technology, what happens is it’s not like it’s new. We’ve been talking to, I did machine learning in in graduate school. Ai, you know, I did neural networks and I’m a terrible Ian. This isn’t, you know, Claude Shannon wrote about this in 1937, right? But it’s about when does it hit, and so it was chat GBT. Can we argue, was that right? As an investor, it’s stop arguing, start investing. Then what you’ve gotta figure out, which is the question you ask, is when does the music stop? I think it goes until the end of the decade. You know, one of the things that, uh, is interesting about this, uh, AI investment, uh, it’s, it’s unfolding in a higher interest rate environment. Why is that detail so important? Understanding its significance? Well, it’s the cost of capital, right? And so this phase that we have right now. It’s funny you say that, right? ’cause our reference point is zero interest rates, right? Yeah, yeah. Right. That’s right. So, you know, you know, so, so think about this, what it happens right now. Now we’re in the phase where you’ve got these hyperscalers that instead of taking all their free cash flow and buying bonds and buying back stock, are increasing CapEx because there’s a great tax deduction on it. So you get a lot of, so we’re in this phase where, for where, where a lot of the money is, you know, was. Was, let me, let me be clear, was a hundred free cashflow. Now we’re getting these guys, these companies like Oracle and what have you, you know, starting to issue debt and look at debt isn’t bad as long as the rate of return on debt is higher than the interest rates. And so, you know, you know, I, I would say historically speaking, for a lot of these high quality names, the interest rates are not, uh, at levels that will stop them from investing. Right. Right. You know, you’ve written that, um, productivity is ultimately the real story behind ai. So why does productivity matter more than the technology headlines themselves? Well, let me just put it this way, right? So we’ve grown, I grew up, I, I joined, I’m up here in Toronto, right? So I’m gonna give it to you in Canadian dollars, right? So I joined, I joined here. You know, I grew up here, went to the states, came back home. Growing this company I joined when we’re about three and a half billion. We’re getting close to 50 billion, and we’re the fastest growing independent platform in the country. I’m a one man band, right? I use three ai. In the old days, I’d have four research assistants. Where’s the margin in that? And so I, that’s how I see it. And let me be clear, it’s, you know, this isn’t we’re, it’s not perfect. But if I wanted to say, instead of you, but hey, write me a 2000 word essay on the counterfactual of what happened with railroads up until 1894 when the, when the bubble popped, give me a f, you know, a a thousand word essay and, and just a general overview. I can get that in less than five minutes. Michael Sailor is writing product on ai, which, which, which you would take, which you would take. He’s in his presentation, say it would take a hundred lawyers. So it’s gonna be more about those. And it’s, it’s no different than Internet of things or, you know, it was, uh, Kasparov that talked about this. Gary Kasparov talking about the melding of, of technology in humans. He would ran, run this chess tournament called freestyle. You could use a computer, you could use, you know, grand Masters. You could use whatever you wanted to compete. And who won? Well, who won it Was that those teams that were generalists that had a little bit of that, the knowledge of the computer and the knowledge of the test. Uh, o of chess, right? That’s what’s gonna happen. So this isn’t we’re, as far as I’m concerned, we’re not, yes, there’s going to be some d some jobs that are going to be replaced, but that is always the case in technology. I’m not a Luddite, okay? I am not Luddite. But the same point in time. I, I would suggest to you that it, it is just a really, for me, it’s a, helps me. Do research no different than when I was an undergrad and they went from cue cards in the, the library at the university to actually having a dummy terminal and I could ask questions in queue. You know, it stalked me from having to go to the basement of the library and going to microfiche. Right. Have helping that way. Now can it, can, will it do other things? I’m sure it is, and I’ll lead that to Elon Musk and the crew. You know, that’s above my pay grade. But for me, I see it as a very helpful way of, you know, allowing me to process and delineate. Much more information a a and not have me waste so much time trying to figure out what got went on in the past or, you know, QMF. Right. You know, summarize me the talk five, you know, academic papers in this area, what are they saying? And then they gimme the papers. Right. It just speeds the process up. Yeah. You know, um, one of the things that I’ve been sort of talking about and thinking about. Is that it’s hard to not see AI as a very, very strong deflationary force. Um, how do you think about that? Yeah. Technology is deflationary, right? Doubt about it. And so I look at it this way, Ray. Um, so I work at the financial services industry, okay. You know, Mr. Diamond of JP Morgan is talking about how they are starting to embrace blockchain and ai. They are going to cut out the back end of that in the, the margins in that, in that company by the end of the cycle are going to be fantastic. People just do not get in. You know, the financial services industry is built on a platform. Of the 1960s, dude. I mean, they’re still running Fortran, cobalt. So you know what I, how I look at this is much more as a margin type story, and there’s going to be a lot of displacement. But at the same point in time, I look at Tesla and automation and ai. And you know, people look at Tesla as a car company. I look at Tesla as an advanced manufacturing company. Elon Musk could basically go into any industry and disrupt it if it wanted to. Right. So that’s how I look at it. And so, you know, the hard part is going to be, you know. Nothing. If we get back to where we were, it’s not going to be perfect, right? Because here’s, here’s where the counter is, here’s where the counter is. Right? If you, if, if you think about, and we’re, I’m gonna take Trump outta the equation and ent outta the equation right now, but if we just went back to the way things were before COVID, we would have strong deflationary forces. Okay. Just with demographics, just with excessive levels of debt. Just with, you know, pushing on a string in terms of, in terms we couldn’t get the growth up, you know, and, you know, and the overregulation of financial institutions. Trump and descent are basically applying what’s called supply side economics, and they’re deregulating. It’s says law, which is John Batiste, that says basically supply creates his own demand and it’s non-inflationary. But really what they’re going to try to do is they’re going to try to run the economy hot and they’re gonna try to pull this way out of the debt. And if you do that and you deregulate the banks. And allow the banks to get back to where they were before the financial crisis. Okay. You know, and, and the Fed takes its interest rates down to neutral, expands the balance sheet. Then I don’t think we’re gonna go back to the zero bound in deflation. I think this thing’s gonna run hot for a long time. And I think it, the real question is, is, is is 2 75 in the United States the neutral rate? I think it is. Uh, but as, as, as Scott be says, and, and, and, and, and let’s be clear, buck, the guy’s a superstar. Okay. Guy is a legend. Just you sit there, just shut up and listen to him. Okay. They keep up, right? Well, so they’re gonna run it hot, but where we are is, in his words, mine, not mine. We’re still in this detox period, you know what I mean? We still got the Biden era. We still got, you know, a over a decade of excessive ca of Central Bank intermediation. That needs to get, you know, go away. So what I say, and what I’ve been writing about is 26 is going to be the year that the baton is passed back to the private sector. Let’s get rates down to 2 75. That’s, I mean, I’m going off the New York Fed model. That says real fed funds, the real, the real neutral rate is 75 to 78 basis points. I think inflation’s at two. That that gets you 2 75. Get the rates there and then get the balance sheet of the Fed to the level so that overnight lending isn’t loose or tight. It’s just normal. And then step back, go away and let Wall Street and the private sector create credit. Create economic growth and let’s get back to the business cycle. And if we do that, we’re gonna have non-inflationary growth. It’s gonna be strong, but we’re not going back to the zero bound and we’re gonna grow our way out of this. And so that’s where I get really excited about. This is a very unique time in history. A very, very, very unique time in history where, and I don’t know how long it’s going to last because of the compression that we have now because of the, you know, we live in such a digital world, but let’s say it’s five years demographic says it’s to 33, 32 to 33. That’s, you know, that’s how long this run is. And, and to me, uh, AI is a massive play. I, I, to me, blockchain is a massive play and to me it’s to those countries and companies that get it is, whereas investors, we wanna think, start thinking about investing. Yeah. You mentioned, um, non non-inflationary growth. Can you drill down on that a little bit just so people understand a little bit where. Usually you think of an economy running super hot, you, you think automatically there’s an, you know, an inflationary growth. So I want you to think in your mind into your list as think in your mind. Go back to economics 1 0 1 with the demand curve. In the supply curve, okay? And there are an equilibrium. And at that equilibrium we have a price at an equilibrium, and we have an output as an equilibrium. Okay? Now what I want you to do is I want you to keep the demand curves stagnant or, or, or anchored. Then I want you to shift the supply curve out. Prices go down, output goes out. We can talk all this esoteric stuff, you know, you know Ronald Reagan and, and Robert Mandel and supply side economics. But it’s really your shift in the supply curve out, and that’s what, and that’s what BeIN’s doing. I mean, this is a w would just sit down and be quiet. He’s talking about, you know, what is deregulation? He’s pushing the supply provider. Oh, hold on. My phone. My, my thing. And what did, since the two thousands, what did, what was the policy? It was kingian, it was all focused on the demand curve. Everything was focused on demand. And so all we’re doing is we’re, we’re getting the keynesians out. I use 2000 ’cause that’s when Ben Bernanke really came in and was very influential. Let me just say he’s a very smart, I learned so much from reading. Smart, smart, smart, smart guy. But his whole thing was Kasan. He came from MIT, his thesis supervisor was Stanley Fisher, right? We’re going back to, you know, Mario Dragons thesis supervisors, Stanley Fisher, all these guys came from MIT, Larry, M-I-T-M-I-T, Yale, and Princeton. Whereas previously it was the University of Chicago. It was Milton Friedman. It was, it was supply side economics. We’re going back, they’re going back to supply side economics and right now we need it. We need balance. But my god, what did we end off with? We ended off with four years of mono modern monetary theory. Deficits matter. That’s insanity. You had mentioned a little bit, uh, you, you’ve talked about blockchain a few times here. Talk about the significance. I mean, it’s sort of, you know, blockchain was a thing that everybody was, everybody was talking about it, you know, three, four years ago, but now it’s all about ai. But you know, now you’ve got, um, but in, but in the background, blockchain has grown, uh, adoption has grown. Uh, tell us what’s going on there, and if you could tie it into the significance of, of where we’re at today. Yeah. Um, uh, Jeff Bezos gave a wonderful speech, I think in two thou, early two thousands, where he basically talked about the fact that, you know, once this innovation is led out of the genie’s, led out of the bottle, whether or not, you know, buck and Jim, like it as an investment, the innovation continues. And so after the internet bubble pop, right? Really smart guys like Jeff Bezos, uh, Zuckerberg, you, you, the whole cast of characters, right? Basically built it out. Okay. And it wasn’t perfect and everybody knew it wasn’t perfect. I mean, that was the whole thing that was so bizarre. But they knew it wasn’t perfect and they knew that they needed to solve some problems. Right. And you know, it was a double spend problem. I mean, the internet that we were dealing with right now was developed in the 1950s and so on and so forth. And so, you know, that always stuck with me. Right. A couple of things stuck with me because I’ve lived through a couple of these cycles. The first one is Buck. When the, when Wall Street coalesces around something just shut up and buy it, right? I mean, I, I spent too much of my life arguing about whether dog pile and Ask Gees was better than Google. Wall Street said Google was the best. Shut up. Invest, right? And so, so look, blockchain solved the double spend problem. Blockchain solved all the problems that the original iteration of the internet could solve, and everybody knew it was coming along okay. So it’s a decentral, it’s decentralized, right? Uh, does, does not need to be reconciled. So no. Not only do you have another iteration of the internet. You have basically introduced into society the biggest innovation in accounting or recordkeeping since double entry. Bookkeeping accounting was introduced in Florence, Italy centuries ago by the Medicis and, and buck. All this is out there like, so this is a profound, right? So think about you’re in an accounting department and you don’t have to reconcile, right? So look. The first use cakes was Bitcoin. And what was the, what was the beautiful thing about it? Well, first off, it grew up by itself. And secondly, it’s got perfect scarcity, right? And so let’s just full stop. And I mean, yes, gold and silver had the run that they should have had decades. So I had been waiting and listening to people, gold bugs, talking about this type of run since the nineties. Okay. Um, but look, you know, and the problem with fi money, right? I mean, this is, this goes back decades. It’s an old argument. The way you solve it is, is Bitcoin. That’s the solution. I mean, forget about it. I mean, if they’re gonna whip it around and do all this stuff, fine. But the other thing that people miss and Sailor hasn’t, and Sailor is brilliant, is look. Bitcoin is pristine collateral in 2008, in September. What caused the, the system to stop was the counter. We could not identify counterparty risk for near cash. It was a settlement problem. Anybody you talk to Buck that says it was, you know, the subprime this and it, yeah, that was crap. I get that. But when the system shut down is you had a $750 million near cash instrument with X, Y, Z, wall Street firm, and you did this for three extra beeps and it was no longer cash. Guess. And guess what? Your institutional money market fund broke the buck. That’s when the system blew sky high. When the money market broke the buck and it was a settlement problem, blockchain and Bitcoin solved that. Sailor knows that, look where Wall Street’s gonna go. They understand now that. Bitcoin is pristine, collateral and capital that is 100% transparent. Let’s lend against it, and that’s what Sadler’s doing. That’s why Wall Street hates the guy so much, right? Think about that. Think of where is he going after he’s going after all the stranded capital on Wall Street. And, and the whole point is he’s sitting there going, I’m too busy for this. And you’ve got all these other people that are gonna live off of other people’s ignorance. Meanwhile, Jing Diamond knows exactly what he’s talking about. We can identify, if I hear one more person on me in, in the meeting say, I don’t know. You know, you know, uh, micro strategies balance sheet is so complicated. Really. Compared to JP Morgans, I mean, you know what his capital is. It says Bitcoin, like, what are you guys talking about? But hey, fucking in this business, people make generational wealth on ignorance of people who think they know what they don’t know. So, you know, just going back to Jamie Diamond, you know, he spent, I don’t know how long. Throwing every insult, uh, he could towards Bitcoin. And now they’ve really kind of, they haven’t backtracked. I think he’s, he’s, you know, his, his, um, I think the way he phrases is the blockchain’s a real thing. He never seems to really say the word Bitcoin, uh, in this regard. Um, banks in general, where do you think they’re headed with this stuff? I mean, I, you know, right now, again, you can kind of see even. Um, I think, you know, some of the big advisory firms suddenly recommending one to, you know, one to 4% of people’s portfolios in Bitcoin. I mean, this is all, I mean, gosh, I, I’ve, you know, been talking about Bitcoin since 2017. This is in unbelievable transformation in less than a decade. Where do you see this going in the next five to 10 years? It’s called the, it’s called, what is it? It’s called, I’m gonna call it the Evolution of Jim. Me, you know, in my business and, and, and, and you know, the thing I have book is I’ve survived and I’ve gone through a lot of cycles. I’ve done a lot, you know, and you ask yourself, you scratch your head a lot and you’re, and you, but you’re continually doing objective research and you’re this, if you, this is why I love this game so much. Right? So let’s just go stop for a second. Let’s get some context. Right. My first summer job, one of my first summer jobs, I worked in the basement of a bank in the in, in downtown Toronto, right up the street from the Toronto Stock Exchange. And my job was to let guys in with beak, briefcases into the cage, into the big vault, to basically bring in certificates. Okay. And, and what? Stock certificates. And so remember, you know, and I remember my grandfather when we, when he died, look at, we couldn’t sell the house because he didn’t believe in the banks. And we were finding certificates all over the house in the walls. Okay? Right. So in the 1960s it was bare based. The whole industry was bare based. And there was the volume in Wall Street started to pick up to the point where they couldn’t handle the volume. There was a paper crisis where almost a third of the companies went down bankrupt because of the cage. The cage. Okay. So basically what happened was, to make a long story short, they came out with, they came, Hey, why don’t we get two computers At one point in time, they said, okay, crisis. Let’s solve it. Well, why don’t we get these two computers and we can solve, or we can sell trades among, amongst each other. Okay. And then we don’t need to have guys riding around Wall Street with bicycles and big briefcases. Okay. And then what we did was, what we did was we sat there and said, well, why don’t we have a centralized clearing, and we’re gonna call it DTC or CDS, depending on what country you’re in. And what we’re gonna do is we’re gonna offer paper, we’re gonna, we’re gonna issue paper rights to the underlying stock that was developed in the early 1970s. That’s the system that we’re on right now. There are a lot of faults with that. Let me give you, when you’ve talked about the GameStop a MC situation, when you have a company that’s basically have more shares outstanding short, sorry, more shares short than outstanding, that shows you that the old system doesn’t work. It’s called ation. The paper writes to the underlying assets, it, it doesn’t match up. There have been guys that make a career outta this and write books about this, right? Dole Pineapple. They had a corporate, a corporate event, right? Hostile takeover. 64,000 for 64 million shares, voted, I think, and there was only 3,200 on. We all know this, so this has to be solved. The way you solve it is you tokenize assets, and this was talked about a decade ago, and they know about it and true tofor, they, and if you’re thinking about it, it’s totally logical, right? But if we allow this innovation to go full stream ahead, we’re wiped out, right? So what did they do? They delayed. They delayed. And as you know, you could talk about, it’s called Operation choke 0.2 0.0. Right. You know, the Fed overreached their bounds, they de banked people. I mean, this is why, why Best it’s going after them. They, yet they stepped over their constitutional mandate. Right. The federal, the Fed Act is not, uh, does not supersede the US Constitution. Elizabeth warned the whole thing. They did it. Okay, so let’s not complain about it. So now Atkins is gonna, we’re gonna have the Clarity Act come out and they’re gonna basically deregulate New York Stock Exchange already there. They’re gonna put everything on the blockchain and when you put everything on the blockchain, trade a settlement. There’s no hypo. Immediate settlement. Immediate, which is a benefit if you can get your act together because it, you know, for Wall Street firms you need less capital, right? So it’s a natural evolutionary process. And then you sit there and go back in history, if you and I were writing it, we’d sit there and go, well, should we be surprised that the incumbents right, the status quo pushed back on innovation? No, there was a guy, there was a prophet, um. At, at Harvard, his name was Clay Christensen, and he wrote this wonderful book called The Innovator’s Dilemma. You know, why does, why don’t companies evolve, or why do they go bankrupt? It’s because they cease to evolve and the status quo doesn’t allow the evolution of the companies to take place. Right? Well, that’s what happened in RA. We’re gonna complain about it. No, it, it is what it is. It’s water under the bridge. And so what I think is happening is, you know, Mr. Diamond is basically saying. He’s pragmatic, he’s a realist. And now he’s saying, we gotta evolve. And hey, by the way, now I’ve gotten to the point where I think I can make a tunnel. Think about that. Yeah. Think about his own stable coins, right? So his own stable coins. And, uh, well think about this. If you trade like internal meetings, right? And I’m hyped this hypothetical, right? I go, fuck, don’t screw this up this time. And you’re gonna go, Jim, what are you talking about? I go. We want a nice bread between bid and ask in these financial price. We don’t wanna go down to pennies. Okay? Can we go back to the old days when we were, you know, trading in quarters and sixteenths and so we can make some skin in the game? I think you’ve got the deregulation of the banking industry where the banks are gonna, they’re fit. It’s gonna be baby steps. But what’s gonna happen is they’re gonna basically say, stop taking all that capital that’s sitting at the Fed, making four or fed funds rate overnights wherever it’s four half, 3 75 right now. And you can now trade it. Go back to prop trading, which is what they did. And they’re gonna start off, they will start off with, its only treasuries. Eventually they’ll be able to expand throughout our lifetime. So the old way you gotta look at it is, you know. We’re bringing the ba, you know, we’re putting the band back together, man. Right. And the banks are gonna deregulate, they’re gonna deregulate the banks, they’re going to innovate, they’re gonna be able to use the capital, their earnings profile going out into the end of the decade. It’s, it’s gonna be monstrous, it’s gonna be, you know, it, it’s, it’s, and, and that’s how I get, you know, when people say, where do you think the s and p goes? You know, I say, you know, 14,000, you know, double from here by the end of the decade. And he goes, well, what about ai? I go, well, they’re gonna, that’s important, but it’s the banks. I think the banks are gonna have a renaissance. Yeah. Yeah. Um, one thing just to get your thoughts on, so when you look at the banks, you talked about sort of the inevitability of tokenization. Um, the stock exchange, uh, we talked about stable coins. I mean, another great way for banks to make money. Uh, essentially where does that, how, how does that help or hurt Bitcoin adoption? Because Bitcoin is a sort of a separate, separate, you’re not, you’re not building on Bitcoin as much as you are, say, Ethereum, Mar Solana or, you know, some of the, some of the blockchain things. So, so is it just that. Is it just a, an adoption issue? Because you live in a, in a different world. You live in a world of blockchain and Bitcoin is, its currency. It’s weird, right? Because I, I’m writing this feed like, so Buck, where are you right now? Where, where, where are you located? I’m in Santa Barbara. You’re in California. So, yeah, so I’m in Toronto, right? Uh, you know, I lived in, worked in the States for, you know, a decade, a couple of decades, and I’m back home and it’s like, man, they don’t get it. Right, and, and, and, and what am I talking about? Well, well, this, this is the, the thing that you’ve gotta understand is this, right. Ethereum was invented by Vladi Butrin in this town, Joe Alozo, who’s the head of one of the largest Ethereum groups. Father is a dentist at Bathurst and Spadina. We’re up here and people are saying, oh, you know, president Trump don’t talk about being a 51st state. We act like a colony, duke. We are a, you know, we forget about calling us one. We are. So, look, it, look, there is no doubt in my mind that Ethereum is going to have a place and, and we’re going to use it. Seems like we’re going to use Ethereum and that’s the smart contract, you know? Um. And that’s fine. Um, you know, but going back in time. But, but remember, there’s not per, there’s not perfect scarcity there. So I like Ethereum, don’t get me wrong, but I look at Bitcoin and I look at the, I look at the scarcity, and I also look at the fact of, you know, what sa, what Sailor, if you sailor did a presentation in the middle of next year and all hell broke loose. What he did, and it’s, you know, and of course I’m hypothesizing. He basically went to New York and said, I am going to create fixed income products and I am going to give yields. On those products, and I’m coming after the stranded capital that sits on Wall Street that you guys have been ripping on for years. In the middle of last year, staler went public and declared war. Okay. Are we surprised that Jim Shane Oaks came out and everybody came out basically guns a blazing. Are we surprised? But what he, what Sailor did and put and slammed on the table is it’s pristine capital, it’s transparent capital. And what are you willing to pay for that? And now you GARP banks trading at. We have no idea what their capital structure really is. Honestly, we have an idea, but it’s very opaque, right? You know, the high quality names are trading at two, two to, you know, two times tangible book. You’ve got fintech’s companies trading at four to five times, right book, and you know, what’s Sailor doing right now? Diluting his stock so he can buy as much Bitcoin as he wants because he sees the next game. He says the hell with what you guys think the next game is going to be. Wall Street’s going to realize that Bitcoin is pristine capital and there’s only 21 million of it. What do you and, and what just happened today? What did Morgan Stanley just file a treasury company. So everything you and I are talking about, they know they’re smart guys, right? They’re real, they’re not. That’s, this is the whole point. They’re really, really, really smart. Okay. They see they’ve gone through the history. They know. Okay, so you’re sitting there, you get around the room, you say, so wait a minute. Wait. Whoa, sailor’s over here. And he’s basically saying he’s gonna give you a a pref that’s basically backed by Bitcoin charging 10%. And he’s going after our corporate clients. I mean, and what’s the pitch Buck? You’ve got a hundred million dollars. Okay, you got a hundred million dollars in the kitty. Okay, buck. What happens is you need $10 million a year for working capital, which is in cash, which means you’ve got $90 million sitting there idle. Hey, buck, I can give you 10% on that. You go to Jamie, he’s giving you two. What are you gonna do? Yeah. I think one of the issues right now is I the, the perceived risk profile of that. Right. Uh, you know. I tend to agree with you about the, uh, pristine nature of Bitcoin s collateral, but just in general, the perception. I don’t know that, that that’s. That’s the case. Well, you gotta go back to the fact that, do you think Bitcoin’s going to zero or not? No, of course not. Yeah. ‘ cause the Bitcoin doesn’t go to zero. There’s no, then, then that are, there’s Bitcoin could go to zero. There’s no, I mean, I don’t think, I mean, non-zero probability, of course, right? I don’t think it is. And if that has been, if it has been selected and now you have Wall Street coalescing it, I haven’t even mentioned the president of the United States or his family. Right. Uh, or the Commerce Secretary and his family, right? Or if you go to New York, wall Street, right, they’re all talking about it, right? So, I, I, you know, to me, I, I, the question about micro strategy, to me it’s not. That it’s a treasury company and it’s got a pile of Bitcoin. What does he do with it? Does he become a bank? Like why does it, this is me. I’m pitching him. Right. Hey, Mike, why don’t you just become a FinTech, say you’re like a FinTech company and you’ll get, and you, you’re gonna instantaneously trade it five to six times book. Why don’t you, why are you, you’re talking like you’re attacking them, but you’re still, you’re still a software company with a, with a big whack of Bitcoin that you are writing pres. Right? So, and, and so that’s, that’s how I look at it. I think the wave is too big. We are going to digitize. And the other thing that we didn’t really touch on with respect to AI and blockchain, and I’m gonna paraphrase the president. Right. Um, Mr. Trump is, look, um, it’s a matter of national security, duke, and when I hear that, I go back to the nineties in the eighties when I was in late eighties when I was an undergrad. Right. And it wasn’t China, it was Japan. And, and you know, what happened was, you know, it, it’s funny, Al Gore did deregulate so that. The internet could become for-profit. We all stood around and said, you know what the hell could, how do we make money on this? That’s, you know, what do we do? And then what did we do? We, we, we threw a ton of money at it and the United States controlled it. And what did we get out of it? We got out, we got, you know, all those companies. Right. The last thing I would say to you, and this is much more of a personal story, is I, when I was younger, I was in New York and it was 2000 and I was at the Grand Hyatt, and it was a tech, it was a tech conference and, uh, Larry Ellison Oracle was there and he gave a, he gave a, he gave a a, a fireside chat. Then, um, we go to a breakout room and, you know, in a break, I don’t know about if you’ve been to one, but you go to a breakout room, it’s a smaller room at the hotel, and you know, sometimes you got 25 people, sometimes you got 50 people, right. And, you know, I went to the, I went to the breakout with Mr. Allison ’cause of Oracle and I went in there and it was absolutely jammed and I was sweating and he just looked at us and he just ripped us. He AP Soly, just, I still have the scars today. I’m talking to you about it. Okay. He called it a bubble. He called it a bubble. He, he was early in calling it a bubble. I never forgot that. And then you sit there and see what he’s doing right now. Where he’s levering up the balance sheet. Now, to me, having survived in this game for such a long period of time, and I call it a game, it’s a game of strategy, whatever, you know, how does that not, you know, I would say to you, we were, your office was next to mine. Fuck. I remember New York, he’s loading the goose loaded in. He go in, he’s borrowing money from his grandmother. He’s, you know, what is going on. And he’s really stinking smart. You know, he’s, he, Larry Allenson just doesn’t do, and people, oh, he’s in, you know, he’s, no, he’s not, he’s, he’s like the mentor of all of these guys. You know what I mean? So there’s a, to me, there’s a discontinuity that these need to believe that we’re still early on because you know, what, if Larry’s, what do we take when Larry or Mr. Ellison is leveraging up to me, it’s profound because I’m anchoring off of my bias to the New York, the New York high at, at the Tech Co. I think it was, I think it was at Bear Stearn. I couldn’t remember Bear Stearns or Lehman. But you know, one of those I carry that experience on with the rest of my life. I do. It’s like, what is Larry thinking? Right? So he’s leveraging up buck. That’s all I know. He’s a priest or guy. Well, that’s probably a good place for us to stop, Jim, uh, chief, uh, market strategist at Wellington Elta Private Wealth. Thank you so much for joining me. Thanks so much and be safe. You make a lot of money but are still worried about retirement. Maybe you didn’t start earning until your thirties. Now you’re trying to catch up. Meanwhile, you’ve got a mortgage, a private school to pay for, and you feel like you’re getting further and further behind. Now, good news, if you need to catch up on retirement, check out a program put out by some of the oldest and most prestigious life insurance companies in the world. It’s called Wealth Accelerator, and it can help you amplify your returns quickly, protect your money from creditors, and provide financial protection to your family if something happens. The concepts here are used by some of the wealthiest families in the world, and there’s no reason why they can’t be used by you. Check it out for yourself by going to wealth formula banking.com. Welcome back to the show everyone. Hope you enjoyed it. Uh, and, uh, as I said before, do not ignore ai. This is something that you need to start using. Have your kids start using it. Uh, make sure that they, you know. They use it every day because this whole world is turning AI and it’s gonna happen. You know, it’s gonna happen in, in a blink of an, uh, blink of an eye. And the world is gonna change and there are gonna be real winners out there. And the winners are gonna be people who knew where there was, was going and kind of used it in their mind’s eye as they looked on navigating how. You know how to allocate their money. Anyway, that is it for me. This week on Wealth Formula Podcast. This is Buck JJoffrey signing off. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom Wheel Wright and Ken McElroy. Visit wealth formula roadmap.com.

John and Ryan return with a jam‑packed conversation that swings from tabletop quiet spells to the wild frontiers of modern gaming culture. They kick things off by digging into why Dungeons & Dragons has been unusually silent in 2025, exploring the slowdown in new book releases and what it might mean for longtime fans. From there, the discussion shifts to the trading‑card world, where the duo reacts to the surprising new policy requiring One Piece card game products to be opened upon purchase at local game stores. That leads into a deeper look at the ongoing scalping issues plaguing the One Piece TCG and how scarcity, hype, and opportunism are affecting the community. Collecting chaos doesn't stop there. John and Ryan take a closer look at the cost of Pokémon LEGO sets and what's driving their premium price tags. They wrap up with a breakdown of the GameStop digital game lawsuit. Capping off the episode for their ongoing theme for January—Agonizingly Long Tutorials Month—is a spotlight on Red Dead Redemption 2. The guys reflect on the game's famously slow, cinematic onboarding and how it sets the tone for one of the most immersive open‑world experiences ever made. 00:00 Intro 11:48 Why Dungeons and Dragons has been quite in 2025 in terms of new books 23:23 Ryan's Pokémon Emerald Legacy Update 27:26 Pokémon Nostalgia and Gaming Adventures 31:29 One piece card game now requiring to be opened upon purchase for local game stores 39:06 Scalping Issues in the One Piece TCG 45:01 The High Cost of Pokémon LEGO Sets 54:58 GameStop's Digital Game Lawsuit Find us on TheGameDeflators.com Twitter - www.twitter.com/GameDeflators Facebook - www.facebook.com/TheGameDeflators Instagram - www.instagram.com/thegamedeflators

Andrew Ross Sorkin joins Dan Nathan on the RiskReversal Podcast to dig into his new book, 1929: Inside the Greatest Crash in Wall Street History and How It Shattered a Nation, and what the lessons of the 1920s mean for today's stock market, Fed policy, and AI bubble talk. They connect the dots between the roaring '20s and 2026: meme stocks like GameStop and AMC, crypto manias, “democratizing finance,” tariffs, Federal Reserve debates, margin debt, and how political power shapes Wall Street from Hoover and Roosevelt to the current administration. Follow our boy Bill on Instagram —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Tony: -Things heating up with AI usage in Video Games: https://www.polygon.com/clair-obscur-expedition-33-indie-game-awards-controvsery-gen-ai-explained/?link_source=ta_bluesky_link&taid=6949aa663265bb00019eb313&utm_campaign=trueanthem&utm_medium=social&utm_source=bluesky Larian got in trouble too: https://wccftech.com/larian-studios-will-refrain-from-using-genai-tools-to-develop-concept-art-will-use-it-elsewhere/ -The Division Definitive Edition: https://www.ign.com/articles/it-looks-like-the-division-definitive-edition-is-on-the-way-10-years-after-its-initial-release -What is Gamestop even doing?... https://arstechnica.com/gaming/2026/01/is-this-the-beginning-of-the-end-for-gamestop/ -Arc Raiders Aggression Based Match Making: https://www.ign.com/articles/this-is-like-a-whole-new-world-arc-raiders-players-are-using-aggression-based-matchmaking-to-retire-from-pvp Jarron:  -DLSS 4.5 https://www.digitalfoundry.net/news/2026/01/nvidia-announces-dlss-4-5-new-transformer-model-already-live -New Strix Halo chips for gaming: https://www.theverge.com/tech/855463/amd-strix-halo-ai-max-plus-388-392-handheld-gaming -Intel is going to release a custom Panther Lake CPU for handhelds: https://www.theverge.com/tech/857252/intel-handheld-gaming-pc-panther-lake-custom-cpu -Gamesir made the weirdest controller that I kinda want: https://www.theverge.com/news/851259/gamesir-switch-turbo-drive-controller-steering-wheel-wireless-force-feedback -Star Wars can jailbreak a PS5: https://www.engadget.com/gaming/playstation/prices-for-an-old-star-wars-game-have-ballooned-because-of-its-role-in-a-ps5-jailbreak-230604276.html?src=rss Owen: -Here's a game for you. UEFI boot game. https://www.tomshardware.com/software/dev-creates-uefi-games-compendium-where-you-have-to-win-to-access-your-computer-10-month-project-will-shutdown-your-pc-if-you-lose -Brandon Sanderson AAA Game? Well it's in the works. https://wccftech.com/mistborn-author-is-talking-to-aaa-game-studios-adapt-fantasy-saga/ Lando: -Pay Attention! Free games! https://kotaku.com/steam-sale-team-17-hidden-codes-free-games-deal-secret-artwork-2000658974

China's Hottest App Is a Daily Test of Whether You're Still Alive - https://www.wired.com/story/china-are-you-dead-yet-app/These four U.S. cities were voted among the most inauthentic in the world - https://www.timeout.com/usa/news/these-four-u-s-cities-were-voted-among-the-most-inauthentic-in-the-world-010926These baby names are going ‘extinct' in 2026, BabyCenter predicts - https://fox40.com/news/national-and-world-news/these-baby-names-are-going-extinct-in-2026-babycenter-predicts/GameStop closes 5 St. Louis-area stores as part of nationwide wave of closures - https://www.ksdk.com/article/news/local/business-journal/gamestop-closes-5-st-louis-area-stores-as-part-of-nationwide-wave-of-closures/63-c474c7bf-7e3b-4edf-874b-1fb19072ed6fNational Feast of the Ass Day - https://nationaltoday.com/feast-of-the-ass-day/Search for monkeys continues in St. Louis as AI images create chaos - https://www.stlpr.org/news-briefs/2026-01-13/monkeys-st-louis-ai-images-complicate-searchLifeguards describe ocean rescue after paraglider falls 500 feet from the sky - https://www.goodmorningamerica.com/news/story/lifeguards-describe-ocean-rescue-after-paraglider-falls-500-129159441Airplane experiments reveal sickening water quality on planes — here's which airlines were the cleanest - https://nypost.com/2026/01/08/lifestyle/study-experiments-reveal-sickening-water-quality-on-planes/Diamondbacks acquire Nolan Arenado in trade with Cardinals - https://www.espn.com/mlb/story/_/id/47600142/diamondbacks-acquire-nolan-arenado-trade-cardinalsSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Whoa, Shuhei!  We’ve got a lot to talk about.  Stack it up!  Join Tricky, Alex and Yield as they discuss, among other things, NeoSprint, Astro Bot, Arc Raiders, and Dispatch.  What’s more, we delve into a list of GameStop closures, and we share our thoughts on Sony’s patent for “Complete Mode.” And if you think that’s all, then you’ve got another thing coming!  We hit the high notes, and we hit the low notes, but we’ll always bring the banter.  What are you waiting for? Dive in! As always, the opinions fly fast and heavy! Look out for this super-sized show, as the seemingly smallest conversation veers off into a multiverse of chit-chat. Sounds cool, huh? That’s the fancy way of saying “derailment.” And there’s plenty of that to go around! Let’s dance, Heroes of the XMB! We are happy and proud to share that Proven Gamer has partnered with the Humble Bundle! The Humble Bundle is a fantastic initiative and program that allows games to score a litany of games on the cheap — all while making charitable donations to various groups and organizations. You can click here for the details on Proven Gamer's Humble Bundle partnership. In a bit of big news that would make the Teenage Mutant Ninja Turtles proud, iHeartRadio, Pandora and Spotify host episodes of Trophy Whores. It's a tremendous honor for the show to be part of two massive and respected entertainment communities, and Proven Gamer have only the fans to thank for pushing the podcast to soaring heights. The Trophy Whores work hard to put out a quality weekly show, but they owe so much love to their listeners, who keep the show strong and growing. If you want to support the show via Patreon, then check out our page, which shares the tiers for all of our Patrons! We appreciate your support (and your ears)! Please subscribe to the Trophy Whores feed in iTunes, Google Play, TuneIn, IHeartRadio, Stitcher, or RSS and please leave a review. We won't give you cookies, but it will help us make the show better. You can find us on Twitter: @TrophyWhores and @ProvenGamer You can also email us at TrophyWhores. If you wish, you can always download the show here – Trophy Whores 702 – Complete Mode is your Guide

In this episode, we talk about: a boyfriend who keeps forgetting important things about his girlfriend, a dad who makes a guy change his shirt when meeting him for the first time, a listener that has some neighbor issues in the attic, a wife who is upset over a teacher's note to her kid, a shared anniversary gift from GameStop, and someone who doesn't want to tone done their wedding dress to appease their sister's insecurities. We also go over some new idioms and announce the Judgies Podcast Awards! FILL OUT THE JPAs SHEET HERE ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Judgies Merch is Available HERE!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Want fun, cool stickers and MORE? ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠www.aurorascreaturecorner.store⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Palestine Children's Relief Fund⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Donation Link Edited by: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@currentlyblinking⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/currentlyblink⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://tiktok.com/@currently.blinking⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Our Patreon is officially open, if you want to see extra content go check it out!  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/JudgiesPod ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Send us mail! (Addressed However You'd Like)  P.O. Box 58 Ottawa, IL 61350  Leave a Review!  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/the-judgies/id1519741238⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Follow us on Twitter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/judgiespod⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Follow us on Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://instagram.com/judgiespod⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Intro Music by: Iván  ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://open.spotify.com/artist/5gB2VvyqfnOlNv37PHKRNJ?si=f6TIYrLITkG2NZXGLm_Y-Q&dl_branch=1⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  Time Stamps: 0:00 Intro 4:55 IMPORTANT ANNOUNCEMENT 9:49 Boyfriend Is Forgetting Me 23:40 Making Boyfriend Buy A New Shirt 36:42 Break 36:50 CJ: Updated Idioms 52:08 LS Sound 56:29 LS Story 1:05:28 Wife Upset Over Teachers Note 1:12:07 "Shared" Anniversary Gift 1:14:19 Refusing To "Tone Down" Wedding Dress 1:18:54 Outro Story Links: AIO I don't think my boyfriend knows who I am??? Am I the a-hole for making my daughter's BF buy a new t-shirt? My wife thinks our son's teacher crossed a boundary by sending him a personal message. I think it was harmless. AITJ? AITA for walking out of my anniversary dinner because my husband gave me a gift that was basically for him? AITJ for refusing to “tone down” my wedding dress because my sister is insecure? Learn more about your ad choices. Visit megaphone.fm/adchoices

Betty got scammed, GameStop’s new CEO, the best hair metal ballads, and fighting ducks. You can join our Wally Show Poddies Facebook group at www.facebook.com/groups/WallyShowPoddies This podcast is crowd funded - that means that you help make it possible. If you like it and want to support it, give here.

Robbie Goodwin and Kelly Taylor join Zac Amico and discuss what they watched in Christmas, how bigger looking butts are related to autism, Gypsy Rose's seduction videos, the Delco Pooper going to rehab, GameStop and pawn shop experiences, the non-human meat found in cargo, people who bring crazy food items on planes, the girl who dates zombie dolls and so much more!(Air Date: December 29th, 2025) Support our sponsors!SmallBatchCigar.com - Use promo code: GAS10 for 10% off plus 5% bonus points!YoKratom.com - Check out Yo Kratom (the home of the $60 kilo) for all your kratom needs!BodyBrainCoffee.com - Use promo code: ZOO15 to get 15% off!Zac Amico's Morning Zoo plug music can be found here: https://www.youtube.com/watch?v=oMgQJEcVToY&list=PLzjkiYUjXuevVG0fTOX4GCTzbU0ooHQ-O&ab_channel=BulbyTo advertise your product or service on GaS Digital podcasts please go to TheADSide.com and click on "Advertisers" for more information!Submit your artwork via postal mail to:GaS Digital Networkc/o Zac's Morning Zoo151 1st Ave, #311New York, NY 10003You can sign up at GaSDigital.com with promo code: ZOO for a discount of $1.50 on your subscription and access to every Zac Amico's Morning Zoo show ever recorded! On top of that you'll also have the same access to ALL the shows that GaS Digital Network has to offer!Follow the whole show on social media!Robbie GoodwinTwitter: https://twitter.com/robbiegoodwinInstagram: https://instagram.com/robbiegoodwinKelly TaylorInstagram: https://instagram.com/hellothisiskellyPodcast YouTube: youtube.com/@IFeelFatTodayZac AmicoTwitter: https://twitter.com/ZASpookShowInstagram: https://instagram.com/zacisnotfunnyDates: https://punchup.live/ZacAmicoSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.