Podcast appearances and mentions of Jason Calacanis

Today's guest is Jim Grant, founder and editor of Grant's Interest Rate Observer, which he's been publishing since 1983. He's a financial historian and one of the most well-respected Observers on Wall Street. In today's episode, Jim Grant explains why AI may be one of the greatest bubbles of all time, alongside the railroads and the dot-com era. He reframes deflation as progress, questions how murky the $2 trillion private credit market is, and explains why the Fed can't aggressively fight inflation. To close, Jim makes his case for gold and revisits 1984, which he calls the clearest example of how strange markets can be. (0:00) Starts (0:39) Jim Grant on AI mania (12:23) The economic implications of inflation & deflation (19:56) Interest rates and private credit concerns (27:13) The Fed's inflation target (41:10) How to fix the Federal Reserve (45:09) The history and role of gold in portfolios (54:34) Jim's most memorable investment (57:28) Historical periods to study ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Trump's approval rating may be near record lows, but tech tycoons and powerhouse CEOs are still all-in with bending the knee to Trump and bearing him gifts. If he turned America into an oligarchy, they'd be OK with that too. Anything to gut regulations and keep their taxes low—even if regular Americans might soon be looking for a pitchfork. Jason tries to explain the view from the tech world to the rest of us. Plus, AI job displacement, Elon's IPO grift, and a counterfactual had Kamala been president.Jason Calacanis joins Tim Miller show notes Jason's "All-In" podcast  Jason's company, Launch  Get 20% off when you go to trustandwill.com /BULWARK

The gang is back together, and the U.S. and Iran are back at war...maybe? Tim, Sarah, and JVL discuss the latest in Iran, Donald Trump storming off of Meet the Press, the 'stolen election' freakout in Los Angeles, Todd Blanche's nomination as Attorney General, and JVL's Triad about former DHS commander Greg Bovino (kinda sorta maybe) eyeing a presidential run.Plus: Graham Platner, Lindsey Graham's primary in South Carolina, and the gang reacts to a completely wild AI-generated ad of...James Talarico in a dress? Finally, Tim debriefs on his interview with a Silicon Valley vibes-whisperer.Read JVL's Triad, here.Watch Tim's interview with Jason Calacanis, here.Get free shipping and 365 day returns with Quince at https://Quince.com/THENEXTLEVELGet started on your weight loss goals with Hims at https://Hims.com/THENEXTLEVEL.Get 30% off your entire order with Soul at https://GetSoul.com with code THENEXTLEVEL.

This is a free preview of a paid episode. To hear more, visit www.thebulwark.comThe gang is back together, and the U.S. and Iran are back at war...maybe? Tim, Sarah, and JVL discuss the latest in Iran, Donald Trump storming off of Meet the Press, the 'stolen election' freakout in Los Angeles, Todd Blanche's nomination as Attorney General, and JVL's Triad about former DHS commander Greg Bovino (kinda sorta maybe) eyeing a presidential run.Plus: Graham Platner, Lindsey Graham's primary in South Carolina, and the gang reacts to a completely wild AI-generated ad of...James Talarico in a dress? Finally, Tim debriefs on his interview with a Silicon Valley vibes-whisperer.Read JVL's Triad, here.Watch Tim's interview with Jason Calacanis, here.Watch, listen, and leave a comment.This ad-free video version of The Next Level is exclusively for Bulwark+ members. Click the learn about setting up this show, ad-free, on your podcast player of choice. Or watch in the new Bulwark App—available now in the Apple and Google App stores.

My guest today is Charles Ellis, founder of Greenwich Associates, longtime member of Yale's investment committee, and author of more than 20 books, including the classic Winning the Loser's Game. In today's episode, Charley reflects on writing the first major book on share repurchases 50 years ago, when the idea was so foreign that Goldman mailed it to 1,000 corporations as a “legitimizer.” Charley also walks us through his new book, Great American Investments: A History of the Bold Initiatives that Shaped a Nation, covering 14 audacious public investments from the Louisiana Purchase to the Marshall Plan. He explains how each came down to one or two obsessed individuals, why Alaska turned out to be the bargain of the century, and how Frances Perkins muscled Social Security into law. As the episode winds down, he shares the lunch with Sandy Gottesman in the early 1970s that led him to buy Berkshire Hathaway at $700 a share — and hold it ever since. (0:00) Starts (1:54) Charley on stock buybacks (8:06) Current state of investing and behavioral economics (11:37) Advice for young investors and long-term strategies (16:41) Charley's new book: Great American Investments: A History of the Bold Initiatives that Shaped a Nation (25:42) The origins of social Security (32:46) American entrepreneurship (36:43) Will AI be the next great American investment? (42:34) Most memorable investment ----- Sponsor: ⁠Ivy Invest ⁠- To learn more about Ivy Invest's SEC-registered endowment-style fund, view the prospectus, and learn how to invest, visit ⁠ivyinvest.co/fund ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Will Goetzmann, Professor of Finance at the Yale School of Management. He is an expert on financial markets and securities, investment strategies, investor behavior and financial history. In today's episode, Professor Goetzmann walks through 5,000 years of financial history, showing how finance shaped trade, cities, corporations, and investing. He covers the first compound interest calculation, the world's oldest corporations and bonds, and historic bubbles from tulips to NFTs. To close, he explains why markets have repeatedly adapted through war, crisis, and uncertainty. (0:00) Starts (1:50) William Goetzmann on origins of money (7:06) The history of corporations (14:43) Yale's historical bond and early financial innovation (17:33) Parallels between historical and modern financial bubbles (25:52) SpaceX IPO and market valuations (27:26) Herd mentality and bubbles (32:47) Global investing, inflation, and currencies (41:13) Finance-related art (46:31) Most memorable investment ----- Sponsor: Ivy Invest - To learn more about Ivy Invest's SEC-registered endowment-style fund, view the prospectus, and learn how to invest, visit ivyinvest.co/fund ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Mark Cuban and Jason Calacanis both say the Bitcoin trade is over. This episode breaks down why some investors believe Bitcoin is finished while others think the biggest supply shock in history is still ahead. From U.S. debt and inflation to strategic reserves and digital money, this is the battle over Bitcoin's future. If you're wondering whether to buy, sell, or hold, this is the conversation you need to hear. Click here to learn more about what's coming: https://news.simplybitcoin.com/launchSPONSORS✅ Ledn⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.nmj1gs2i.com/9W598/9B9DM/?source_id=podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Simply Bitcoin clients get 0.25% off their first loanNeed liquidity without selling your Bitcoin? Ledn has been the trusted Bitcoin-backed lending platform for 6+ years. Access your BTC's value while HODLing.

While in Omaha for Berkshire week, Meb hopped on another podcast as a guest. It was a fun one, so we're releasing it here as well. In today's episode, Meb Faber makes the case against home country bias, pointing to Korea's near-triple and Japan's decades-long round trip as reminders that cycles always turn. He explains why shareholder yield tells a truer story than dividends, why there are now more ETFs than stocks, and why tax alpha matters more than chasing returns. To close, Meb reflects on multi-decade compounding — and the mistakes that quietly take investors out of the game. (0:00) Starts (2:06) Meb's thoughts on Warren Buffett (5:11) Global diversification and home country bias (14:29) Shareholder yield (27:45) Positive investment behaviors (30:19) The ETF industry and the current investment landscape (35:18) Rapid fire questions ----- Sponsor: Want to learn more about 351 Exchanges? Visit the Alpha Architect 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. Investments in securities entail risks, including possible loss of principal and are not suitable for all investors. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

What does it actually look like to roll out AI at enterprise scale inside one of the world's most recognisable technology companies? Craig Mills, APAC Head of Demand Generation and AI Marketing Transformation Lead at IBM, shares the real story: the internal lockdowns, the false starts, the springtime of ideas that fizzled, and the hard-won clarity that followed. Craig walks through IBM's shift from experimentation to intentional, use-case-driven execution in 2026, with a focus on email marketing as an underrated strategic weapon. He also shares a simple three-part navigation framework any B2B marketer can apply, regardless of the size of their organisation. Guest Introduction Craig Mills is the APAC Head of Demand Generation and AI Marketing Transformation Lead at IBM. With over two decades at IBM, Craig has led marketing transformation across Asia Pacific, focusing on data-driven demand generation and the practical adoption of AI across complex, multi-market enterprise environments. Key Topics IBM's AI adoption arc: from pre-GPT predictive analytics through the GPT moment, internal lockdowns on AI use, the launch of IBM watsonx in 2023, and the shift to focused execution in 2026The "client zero" experience: how IBM employees lived the AI transformation firsthand through changes to HR systems, well before the broader market caught upWhy email marketing is Craig's number one AI use case and how IBM is moving from successful pilots to systematic, micro-targeted execution at scaleMicro-segmentation at enterprise scale: how AI enables hyper-personalised outreach to audience pockets that were previously too small to justify the investmentThe people-process-tools interconnectivity challenge: why enterprise AI is so difficult and why most organisations are still struggling to get it rightCraig's three navigation points for B2B marketers: get closer to customers and partners, get closer to your product, and go fasterBuilding maximum mental flexibility: why clarity of mission is the prerequisite for individual speed and creative agility in an AI-driven environmentThe IBM Enterprise 2030 finding: 79% of executives expect AI to drive significant revenue by 2030, yet only 24% know where it will come from Resources and Links Tools IBM Enterprise 2030 Report -Craig's North Star on AI strategy: 79% of executives expect AI to drive significant revenue by 2030, but only 24% know where it will come from.This Week in Startups -Podcast by Jason Calacanis. Craig recommends it for building a startup mindset inside large organisations.IBM watsonx -IBM's enterprise AI platform, launched May 2023, central to IBM's AI transformation story.Microsoft Copilot -AI productivity tool Craig uses to move faster through emails and meetings.Claude -Anthropic's AI assistant, used by Craig for external customer research. People Mentioned Jason Calacanis -Entrepreneur and host of This Week in Startups. Craig spent a year listening to build a startup mindset within IBM.Ray Dalio -Founder of Bridgewater Associates. Craig follows him for his geopolitical frameworks and historical perspective on the forces shaping the world. Companies IBM -Global enterprise technology and consulting company. Also mentioned  Diablo - The classic video game. Apparently the only thing more addictive than playing with AI tools at midnight.  Contact & Credits Host: Shahin Hoda Guest: Craig Mills Produced by: Shahin Hoda and Alexander Hipwell Edited by: Alexander Hipwell Music by: Breakmaster Cylinder APAC's B2B Growth Podcast is Presented by xGrowth

Today's guest is Tom Lee, CIO of Fundstrat Capital, PM for the Granny Shots U.S. Large Cap ETF, and the Head of Research at Fundstrat Global Advisors. Prior to co-founding Fundstrat, he served as J.P. Morgan's Chief Equity Strategist from 2007 to 2014. In today's episode, Tom explains why stocks have remained resilient despite war, higher oil prices, and widespread investor skepticism. He shares his outlook for the S&P 500 and discusses the coming wave of mega-IPOs. Finally, Tom covers his successful entrance into the ETF space with the Fundstrat Granny Shots ETFs. (0:00) Starts (1:35) Tom Lee on markets since the Iran war (10:02) Issues with the University of Michigan Consumer Sentiment Index (20:50) AI & upcoming IPOs (24:34) Granny Shots ETF (31:25) Tom on crypto (36:52) Tom's most memorable investment Visit ⁠www.fundstrat.com/tom⁠ for complimentary access to Tom's daily insights, market alerts, live webinars, and stock lists. ----- Sponsor: Want to learn more about 351 Exchanges? Visit the Alpha Architect 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. Investments in securities entail risks, including possible loss of principal and are not suitable for all investors. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's show:Cerebras just jacked its IPO range to $150–$160 a share, OpenAI bought a consulting firm to seed its $4 billion private-equity joint venture, and a startup in Oakland is electrolyzing magnesium out of seawater for one-third the going price. Alex Wilhelm and Jason Calacanis go deep with AI21 co-CEO Ori Goshen on why model orchestration, not bigger LLMs, will decide who wins enterprise AI.The crew also covered the decline of OpenClaw, TikTok's new £3.99 ad-free tier, more entries in the live-show sidebar bounty, and had time for a little Off Duty before signing off.Guest Links:Ori Goshen on LinkedInAI21Alex Grant on LinkedInMagrathea MetalsTimestamps:0:00 Ori Goshen, CEO of AI21 joins the show1:20 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!5:14 Why enterprises care about token cost optimization6:01 Jamba as open-weight; Maestro as proprietary orchestration10:08 LinkedIn Jobs - Hire right, the first time. Post your first job and get $100 off towards your job post at https://LinkedIn.com/twist12:56 AI21 customer roster: FNAC, US tech giants, Israeli companies19:01 Alex Grant, CEO of Magrathea Metals joins to discuss pulling magnesium from seawater20:03 Live video of the Oakland pilot electrolyzer20:10 Deel - Founders scale faster on Deel. Set up payroll for any country in minutes, hire anyone anywhere, get visas handled fast, and get back to building. Visit https://deel.com/twist to learn more.22:01 Magnesium as a "gateway metal" for aluminum, defense, aerospace23:20 TETRA joint venture & the Evergreen Project in Arkansas23:38 Series A close, JV economics: $3,000/ton vs. $7,000/ton market29:10 Sidebar bounty update: Glass Sidebar (Oliver Choy) demo30:47 Netsuite - Get the free business guide Demystifying AI at https://netsuite.com/twist31:47 Sidebar bounty update: Sidecast (Patrick Hughes) demo36:09 Reducing scope to "real-time fact checker only" for final round37:24 Ro.co: Ro's insurance checker will let you know if your coverage includes GLP-1s for FREE. Go to https://Ro.co/Twist for your free insurance check.39:07 Cerebras IPO: $115–$125 → $150–$160 per share44:19 Will OpenAI's compute commitments to Cerebras actually get funded?49:19 Fervo Energy IPO — venture-backed geothermal company going public49:40 OpenAI Deployment Company + Tomoro acquisition explained53:51 Anthropic's parallel $1.5B PE joint venture with Blackstone & Goldman56:05 Why Jason thinks these PE spinouts are convoluted financial engineering56:40 OpenClaw's decline + competition from Cowork, Perplexity, Grok1:04:22 TikTok's £3.99 ad-free subscription launches in the UK1:09:09 Knicks sweep 76ers — Jason's playoff predictions1:11:24 Off-duty: "There Is No Antimemetics Division" by qntm1:13:25 Off-duty: Fall of Civilizations podcast by Paul Cooper1:16:37 States' rights, federalism, housing supply & closing thoughtsSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: ⁠https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason's suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com

Today's guest is Marc Seidner, PIMCO's CIO of Non-traditional Strategies. He is also a generalist portfolio manager and a member of the Investment Committee. In today's episode, Marc explores why the investing landscape has changed from one led by economics to one increasingly shaped by politics and geopolitics. He explains why bonds may offer one of the most compelling opportunities in years, while private credit continues to show stress. He also touches on the K-shape economy and why real assets may help portfolios withstand a more uncertain world. (0:00) Starts (1:50) Global economic landscape (4:47) Golden age of fixed income (7:32) Equity vs. fixed income ownership (10:13) K-shaped recovery (15:06) Private credit concerns (17:49) Value over growth, global diversification, and real assets (24:50) International diversification & emerging market bonds (33:05) IPO landscape ----- Sponsor: To learn more about CAOS, read the Fund's prospectus and important information, visit: funds.alphaarchitect.com/caos ----- Follow Meb on⁠ X⁠,⁠ LinkedIn⁠ and⁠ YouTube⁠ For detailed show notes, click ⁠here⁠ To learn more about our funds and follow us, subscribe to our ⁠mailing list⁠ or visit us at⁠ cambriainvestments.com⁠ ----- Follow The Idea Farm: ⁠X⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠TikTok⁠ ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include ⁠Ed Thorp⁠, ⁠Richard Thaler⁠, ⁠Jeremy Grantham⁠, ⁠Joel Greenblatt⁠, ⁠Campbell Harvey⁠, ⁠Ivy Zelman⁠, ⁠Kathryn Kaminski⁠, ⁠Jason Calacanis⁠, ⁠Whitney Baker,⁠ ⁠Aswath Damodaran⁠, ⁠Howard Marks⁠, ⁠Tom Barton⁠, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out ⁠here⁠!  -----  Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). Learn more about your ad choices. Visit megaphone.fm/adchoices

This Week In Startups is made possible by:Pilot - https://pilot.com/twistShopify - https://shopify.com/twistGrasshopper Bank - https://grasshopper.bank/twistToday's show:An AI agent named Valerie is running a real vending machine in San Francisco — setting prices, ordering inventory, managing a bank account, and posting to Instagram. And it's not just a stunt. We're getting an early look at the future of one-agent companies. There's still work to do to help agents ease into the economy, potentially opening up new startup opportunities.Jason Calacanis and Alex Wilhelm cover a stacked docket: Christian van der Henst demos the Valerie AI vending machine powered by OpenClaw; Robert Myers, CEO of Manifold Labs, breaks down Targon, a confidential GPU compute marketplace running on Bittensor Subnet 4; Jason calls Bitcoin "played out;" Alex is impressed by Anthropic's stunning $900 billion upcoming valuation; and the guys discuss Big Tech's accelerating CapEx spend, Chinese AI models in Congress crosshairs, and the NBA Playoffs.Timestamps:0:00 Intro & sponsor reads (Pilot, Shopify, Grasshopper Bank)1:06 Christian van der Henst: Valerie the AI vending machine demo4:28 Legal structure: Giving an AI agent business ownership via trust7:23 Where agents can and can't operate today10:10 Grasshopper Bank: Time is money. Don't waste either. Go to https://grasshopper.bank/twist and get an exclusive $500 cash bonus just for opening an account.11:48 AI café in Stockholm running on agents18:21 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!19:05 Robert Myers, Manifold Labs: Targon & Bittensor Subnet 4 interview20:21 What is Bittensor? An "incubator with 128 subnets"21:08 Shopify: Turn those What If's into sales with the ecommerce platform powering millions of businesses. Sign up for your $1-per-month trial today at https://shopify.com/twist25:21 Pricing, utilization caps, and why GPUs are sold out26:38 Who's using Targon? Customers, use cases, and the mom-and-pop data center argument30:06 Pilot: Focus on your product, let Pilot handle your bookkeeping. Pilot provides the most reliable accounting, CFO, and tax services for startups and small businesses. Head to https://pilot.com/twist and get $1,200 off your first year.35:07 Jason explains the annotated.com vision — 15 years in the making39:11 Polymarket: Will Anthropic flip Bitcoin by Dec 31?40:29 Jason's Bitcoin bear case: "It's played out. No incremental buyers."46:05 MicroStrategy / Strategy updates52:37 AI compute demand vs. the fiber overbuild analogy55:55 Congress pressuring startups over Chinese AI models (DeepSeek, Moonshot)57:11 A16z on the geopolitical risk of Chinese AI models1:00:08 Reflection AI — America's open source AI champion (or lack thereof)1:01:26 Off Duty: Knicks blow out Atlanta Hawks 140–89, Jason goes road-trippingSubscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Lon:X: https://x.com/lonsFollow Alex:X: https://x.com/alexLinkedIn: ⁠https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason's suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com

The way to thrive in an AI future? Be authentically human.This week on The Media Roundtable you have a VIP ticket to SXSW 2026 for iHeart x Oxford Road's Luncheon with a podcasting powerhouse who consistently sees over the horizon.Dan Granger (CEO & Founder, Oxford Road) chatted with Jason Calacanis (Angel investor & Host, This Week in Startups), to break down the current state of podcasting and what's next. What they agree on? AI can't outperform human connection.The team takes on: Conversations over Impressions, Remember the Trough, The George Lucas Alley-Oop, and more. Let's dig in.“  In a world of unlimited impressions, what matters? It's that authenticity and aligning yourself with the conversations that matter.” -Jason Calacanis (Angel investor & Host, This Week in Startups)See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Today's guest is Samuel Hartzmark, a finance professor at Boston College. In today's episode, Sam explores why dividends are so often misunderstood by investors. He explains the “free dividends fallacy” and how it can lead to inflated valuations and price dislocations. He also examines the tradeoffs between dividends and buybacks and how payout policies influence investor behavior. To close, Sam briefly touches on his research on prediction markets and ESG. (0:00) Starts (1:59) Sam Hartzmark on dividend misconceptions (15:24) Mutual funds juicing dividend yields (27:26) Buybacks, shareholder yield, and reinvesting dividends (39:57) Tax optimization (43:40) Importance of total return (52:26) Divestment, prediction markets, and memorable investments ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Will Guidara, author of the New York Times Bestseller Unreasonable Hospitality and former co-owner of Eleven Madison Park, which was named the Best Restaurant in the World. He is a Co-Producer on the Emmy Award-winning series The Bear. His new book, Unreasonable Hospitality: The Field Guide comes out this month. In today's episode, Will discusses how unreasonable hospitality can turn routine service into memorable human connection. He explains why unreasonable hospitality is less about grand gestures and more about intentionality, creativity, and empowering teams to take ownership of memorable customer experiences. To close, Will shares how small acts of care can transform relationships, culture, and loyalty across financial services. (0:00) Starts (2:28) Will Guidara on Unreasonable Hospitality (8:18) Implementing this philosophy in your organization (17:11) The importance of admitting mistakes (26:15) Examples of unreasonable hospitality (37:37) Will's conferences ----- Sponsor: To learn more about CAOS, read the Fund's prospectus and important information, visit: ⁠funds.alphaarchitect.com/caos ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guests are Alex Rubalcava and Paul Bricault of Amplify.LA, a pre-seed venture capital firm. In today's episode, Alex and Paul break down the opportunities and challenges AI is creating for both startups and investors. They discuss the changing economics of software, what makes an AI company defensible, where investors are finding opportunity in frontier sectors, and why speed matters more than ever in early-stage investing.  To close, they explore startup pivots and the tax advantages of QSBS. (0:00) Starts (1:27) Introducing Alex and Paul (2:02) Public software companies & AI (5:13) Amplify LA background and partnership formation (7:34) AI use cases in portfolio companies (15:08) AI's impact on the job market (30:31) AI's impact on investment opportunities at the pre-seed stage (41:02) Aerospace sector opportunities (44:32) Successful startup pivots (50:18) Liquidity in VC (55:28) QSBS impact ----- Sponsor: Alpha Architect - To learn more about CAOS, read the Fund's prospectus and important information, visit funds.alphaarchitect.com/caos ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guests are Owen Lamont, a Portfolio Manager at Acadian Asset Management, and Randy Cohen, a finance and entrepreneurship professor at Harvard Business School and co-founder of PEO Partners, which is a leader in the emerging liquid Private Equity alternatives space. In today's episode, Owen Lamont and Randy Cohen begin with a deep dive into private equity, how to model it in public markets, and why investors are searching for liquid ways to access private-market-like returns. They challenge common views on concentration, market valuations, and explain how investors should think about bubbles and technological change. They also discuss whether the US stock market is Koreafying and the long-term forces that could shape the investing landscape. (0:00) Starts (0:34) Welcome Owen and Randy (5:14) Private equity overview (9:20) Liquid private equity (20:05) The US stock market is Koreafying (24:29) The IPO landscape (36:03) CAPE Ratio and AI (44:45) Best ideas investing (58:44) Deglobalization increases the benefits of diversification (1:00:36) Randy's five future fears (1:11:09) Book recommendations ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

This Week In Startups is made possible by:PaperOS - https://PaperOS.com/twistNorthwest Registered Agent- https://northwestregisteredagent.com/twistEvery.io - https://Every.ioPlaud - https://Plaud.ai/twistToday's show:Silicon Valley just lined up its biggest liquidity event in years: SpaceX filed confidentially for an IPO that could target a $1.75 trillion valuation — potentially the largest public offering in history. Meanwhile, a new Quinnipiac poll shows that 62% of Americans aren't excited about AI, and 70% think it will destroy their jobs. The disconnect between Sand Hill Road and Main Street has never been wider, and this panel is here to argue about what to do about it.Jason Calacanis and co-host Alex Wilhelm are joined by Delian Asparouhov, Partner at Founders Fund and co-founder of Varda Space Industries; Salen Churi, General Partner at Trust Ventures, focused on regulated industries and physical infrastructure; and Larsen Jensen, Founder and GP of Harpoon Ventures and former Navy SEAL.They dig into the SpaceX IPO and what it means for LP liquidity, founder formation, and venture capital's comeback story; the gap between Silicon Valley's AI optimism and public hostility; whether defense tech is in a bubble after $49 billion flooded the sector in 2025; the Marc Andreessen "zero introspection" thesis for founders; America's reindustrialization challenge and the rare earths supply chain crisis; and Artemis's path to putting boots back on the Moon.Timestamps:00:00 Intro1:09 Plaud: If your work depends on conversations — interviews, meetings, calls — you need a Plaud NotePin. You can check it out at https://Plaud.ai/twist and use code TWIST for 10% off!3:50 SpaceX files confidentially for IPO: $1.75T valuation, June target9:00 Will the SpaceX IPO reinvigorate venture capital?10:25 Every.io - For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit https://every.io14:40 Quinnipiac poll: Americans use more AI but trust it less17:31 AI's PR crisis: Dario vs. Jensen, and who's communicating well18:02 Jason's "Invest America" proposal: give workers equity stakes19:55 Northwest Registered Agent - Get more when you start your business with Northwest. In 10 clicks and 10 minutes, you can form your company and walk away with a real business identity — Learn more at https://northwestregisteredagent.com/twist21:39 Larsen: Silicon Valley is walking into the same trap as China offshoring29:04 PaperOS - Whether you're raising a round, launching a fund, or managing a venture portfolio, PaperOS can unlock simplicity and scale across your empire of capital, contracts, and companies. Claim your $10,000 credit at https://paperos.com/twist29:50 Polymarket: 24% chance of a federal AI data center moratorium33:57 Marc Andreessen on zero introspection (David Senra podcast clip)46:48 Is defense tech in a bubble?1:10:32 Saronic raises $1.75B for autonomous drone boats1:25:07 Anthropic vs. OpenAI: where would you put your entire net worth?Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.comCheck out the TWIST500: https://www.twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcpFollow Alex:X: https://x.com/alexLinkedIn: ⁠https://www.linkedin.com/in/alexwilhelmFollow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanisCheck out all our partner offers: https://partners.launch.co/Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarlandCheck out Jason's suite of newsletters: https://substack.com/@calacanisFollow TWiST:Twitter: https://twitter.com/TWiStartupsYouTube: https://www.youtube.com/thisweekinInstagram: https://www.instagram.com/thisweekinstartupsTikTok: https://www.tiktok.com/@thisweekinstartupsSubstack: https://twistartups.substack.com

In today's episode, Van explores the evolution of the rare coin and collectables market, how grading transformed collectibles into an institutional-quality asset class, and why high-grade coins may be undervalued today. He discusses supply dynamics, the historical link between currency, gold, and collectibles, and how technology and AI are reshaping authentication and valuation. To close, Van explains why rare coins remain a compelling way to preserve wealth and build a lasting legacy. (0:00) Starts (2:25) Overview of current coin market and recent gold discoveries (16:43) Historical significance of coins and storing advice (25:34) COVID's impact on watches and sports memorabilia (31:41) Grading with AI (35:42) Identifying undervalued collectibles and selling lessons (45:15) Securitizing collectibles (49:52) Modern companies influencing the collectibles market (1:01:42) Highlights from coin shows and record-breaking sales ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Rob Greer, Partner at Stillcore Capital, joins AI Supercycle to make the bull case for TAO, break down the best subnets to watch, and moreRob Greer is a Partner at Stillcore Capital, one of the only funds in the world exclusively focused on decentralized AI with a primary focus on the BitTensor ecosystem. Stillcore's GP roster includes Rob, Mark, and All In podcast member Jason Calacanis.The Rollup is where the leaders of digital assets and finance converge. Live from the financial capital of the world.Timestamps:00:00 Intro00:54 Rob's Background and Stillcore02:18 Are Subnets Just Yield Farming?04:47 TAO Is Crypto's iPhone Moment05:34 TAO in 2026 = ETH in 201608:47 Top Subnets to Watch Now13:06 Addressing the Inflation Concern16:30 Biggest Misconceptions About TAO18:48 TAO as Liquid Venture20:01 How Stillcore Positions the Fund22:33 TAO Is the Best Value in AI25:26 The $1T Ecosystem Thesis27:49 BitTensor Core Team and Roadmap28:22 New Subnets and Price Discovery31:27 The Ethos of Decentralized AIWebsite: https://therollup.co/Spotify: https://open.spotify.com/show/1P6ZeYd...Podcast: https://therollup.co/category/podcastFollow us on X: https://www.x.com/therollupcoFollow Rob on X: https://www.x.com/robbiek__Follow Andy on X: https://www.x.com/ayyyeandyJoin our TG group: https://t.me/+TsM1CRpWFgk1NGZhThe Rollup Disclosures: https://goodidea.ventures

My guest today is Mike Wilson, Morgan Stanley's Chief U.S. Equity Strategist and Chief Investment Officer. In today's episode, Mike Wilson explains how a rolling recession has given way to a staggered recovery, and why he expects leadership to broaden beyond mega-cap stocks into small caps, cyclicals, and international markets. He highlights growing risks from AI disruption, private credit weakness, and the Iran conflict. To close, Mike discusses a shift beyond the traditional 60/40 portfolio toward a more flexible 60/20/20 approach that includes assets like gold. (0:00) Starts (1:31) Mike Wilson on rolling recessions and rolling recoveries (5:28) Market implications of Iran conflict (9:52) Market cap weight vs. equal weight indices (15:41) Is 60/20/20 the new 60/40? (23:23) Geopolitical shocks (35:48) AI's impact and bullish on healthcare (42:03) Outlook for global economic recovery ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Register for Alpha Architect's LIVE HIDE webinar on March 26th ⁠here⁠. Want to Learn More about Alpha Architect? Visit ⁠www.funds.alphaarchitect.com⁠ Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guests are Wes Gray, Co-CIO of Alpha Architect, and Brent Sullivan, Editor of Tax Alpha Insider, which is the only publication focused on taxable portfolio strategy. In today's episode, Brent Sullivan and Wes Gray discuss how to handle concentrated stock positions. They explore the complexities around 351 ETF exchanges, what investors need to know when participating to adhere to tax laws. To close, they examine the rise of tax-managed long-short strategies and how AI may transform tax planning and portfolio management. (0:00) Starts (1:18) Brent Sullivan's background (3:36) Handling concentrated stock positions (7:32) 351 to ETF conversions (14:49) Regulatory scrutiny & IRS enforcement (27:39) Rebalancing, tax implications and practical advisor advice (34:09) Future ETF seeding predictions (39:01) Comparing ETF seeding and portfolio consolidation strategies (45:48) Long short strategies (52:23) Brent Sullivan's book and conference ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Kristin Olson, Global Head of Alternatives for Wealth at Goldman Sachs. Last year she was named one of the 100 Most Influential Women in US Finance by Barron's. In today's episode, Kristin discusses the explosive growth of the alternatives market over the past decade. She explains what has driven interest from individual investors, particularly millennials, and touches on recent volatility within software and private credit BDCs. Finally, she shares her expectations for the 2026 IPO market, the potential for renewed interest in hedge funds, and how AI is set to reshape sourcing, underwriting, and portfolio construction. (0:00) Starts (1:31) Introduction of Kristin Olson (3:16) Evolution of alternative investments (10:19) Secondary strategies (13:05) Private equity alpha and liquidity concerns (19:13) Private credit market concerns (22:29) Manager selection and due diligence (24:17) Non-traditional investments and hedge fund interest (27:17) Millennial interest in alternatives (31:40) Infrastructure and global opportunities ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Register for Alpha Architect's LIVE HIDE webinar on March 26th ⁠here⁠. Want to Learn More about Alpha Architect? Visit ⁠www.funds.alphaarchitect.com ⁠Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Aswath Damodaran, a professor at NYU, where he teaches corporate finance and equity valuation. In today's episode, Professor Damodaran explains why he trimmed two Magnificent Seven stocks. He digs into AI's real impact on valuations and moats, why big software incumbents face an Innovator's Dilemma, and why the biggest risk isn't tech spending itself, but overconfidence and debt-fueled capex that could ripple beyond tech.  He also weighs in on corporate Bitcoin balance sheets, sports franchises as “trophy assets” driven by billionaire demand rather than cash flows, and the rise of prediction markets. (0:00) Starts (0:34) Professor Damodaran on the Magnificent Seven (7:26) OpenAI's growth, AI's impact on valuations, and software industries (16:07) High capex investment risks (23:10) Market timing (33:43) Trust and the rise of gold and silver (45:12) Cryptocurrencies on company balance sheets (47:42) Sports franchises (52:27) Prediction markets ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Jim Reid, Global Head of Macro Research at Deutsche Bank. In today's episode, Jim walks through lessons from his annual report, The Ultimate Guide to Long-Term Investing, which covers over 200 years of market data from 56 countries. He explains why cash is one of the riskiest long-term assets, how inflation quietly destroys wealth, and why valuation is the single most reliable predictor of long-term returns. He also discusses how fiat money has reshaped bonds, gold, and equities since 1971.  To close, Jim reminds us that history consistently rewards investors who buy cheap, diversify globally, and respect long-term market cycles. (0:00) Starts (1:54) Importance of real vs nominal returns (5:36) Historical returns of gold (8:28) Global investment opportunities (18:06) Bond market performance and growth's impact on asset prices (23:11) Potential impact of AI (30:34) Valuation importance (37:03) Index weighting strategies (42:43) Predictors of bond performance and equity return distribution (47:01) Historical periods of high valuations (52:45) Global banking and stock market performance (55:12) Impact of AI on economics ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Visit ⁠⁠⁠Alpha Architect's 351 Education Center⁠⁠⁠ for use cases, tools, FAQs, upcoming launches, and more. Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's returning guests are Dan Rasmussen, founder of Verdad Advisers, and D.A. Wallach, a venture capital investor for Time BioVentures. In today's episode, we unpack the recent biotech surge through the lens of Dan's recently published biotech report. We also explore China's growing biotech market, shifting IPO and VC trends, and how valuation tools like CAPE fit into today's regime. Finally, we also discuss technology's effect on productivity and corporate profits in the US, Japan's economic anomaly, home country bias, and more. (0:00) Starts (1:20) Dan's research on the biotech sector (19:10) D.A. on biotech in China (27:01) IPO landscape (31:01) Biotech VC update from D.A. (32:16) Are US stocks overvalued? (51:53) Dan's view of Japanese stocks (57:40) Global equity markets and home country bias (1:03:34) Book recommendations (1:11:55) Wrap-up and future plans ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- ⁠ ----- Sponsor: Visit ⁠⁠Alpha Architect's 351 Education Center⁠⁠ for use cases, tools, FAQs, upcoming launches, and more. Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's radio show, Meb breaks down why market-cap–weighted investing may be nearing its limits after an extraordinary run in U.S. stocks. He explores CAPE ratios near historic extremes, the quiet resurgence of gold and commodities, and why equal weight, value, and global markets are suddenly back in the conversation.  To close, Meb explains how trend following and real assets can help investors navigate regime shifts. Note: this was recorded on January 29, 2026. (0:00) Starts (3:03) US stock market update (11:24) Global stock performance (18:03) The role of gold in asset allocation (27:52) Demographics of gold investors (35:47) One-fund portfolios & 351 conversions (42:07) Meb's travel plans ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

This Week In Startups is made possible by:Quadratic - http://quadratic.ai/twistToday's show: Don't get distracted! Here are the MOST CRUCIAL aspects of running a startup, where founders need to keep their full and uninterrupted focus.- Make sure you're saving up your cash- Why you need to just get started and build SOMETHING- Trust and reliability is EVERYTHING for new products- Why distribution should be your top priorityDownload all this practical and tactical startup advice from seasoned veterans Jason Calacanis, Amanda Bradford, and William P. Barnes in this Tokyo edition of TWiST.Timestamps:(00:00) Amanda and Will's big takeaways from Founder U in Saudi Arabia and now Tokyo(3:19) Why cash flow management is so important before you find PMF(5:57) Why first-time founders get the order of operations wrong(6:45) Just build SOMETHING, even if it's taped together(11:19) “Focus is everything in the early stages”(14:17) From a wedge to a bridge(15:50) Quadratic - Bringing the productivity boost of AI into your spreadsheets. Visit http://quadratic.ai/twist to sign up and use the code TWIST to get one free month of their pro tier subscription.(18:45) What to put on your “Not Right Now” list(19:11) Embracing simplicity(22:00) The importance of trust and reliability (especially for Uber!)(28:12) Why innovation needs a constraining variable(33:40) To really drive word of mouth, you have to overdeliver(36:32) Distribution is the primary job of a founder/CEO(38:19) Some of the panel's favorite distribution hacks(45:54) Why Jason respects Japan's commitment to excellence and competency(49:38) Looking for “high slope” in early employees(53:11) Transitioning your team from early-stage startup to growth(57:45) Whoever writes it down gets credit for the idea(58:04) Q: Has the meaning of money changed for the panel now that they've had successful exits?*Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com/Check out the TWIST500: https://twist500.comSubscribe to This Week in Startups on Apple: https://rb.gy/v19fcp*Follow Lon:X: https://x.com/lons*Follow Alex:X: https://x.com/alexLinkedIn: https://www.linkedin.com/in/alexwilhelm/*Follow Jason:X: https://twitter.com/JasonLinkedIn: https://www.linkedin.com/in/jasoncalacanis/*Thank you to our partners:(15:50) Quadratic - Bringing the productivity boost of AI into your spreadsheets. Visit http://quadratic.ai/twist to sign up and use the code TWIST to get one free month of their pro tier subscription.Check out all our partner offers: https://partners.launch.co/

My guest today is Russell Napier, an independent financial market strategist, financial historian, author of The Solid Ground investment report, and founder of the charitable venture The Library of Mistakes. In today's episode, Russell explains why investors are asking the wrong questions at a critical turning point in financial history. He how financial repression, shifting monetary regimes, and political priorities are reshaping capital markets. To close, he explains the dangers of yield chasing, why technology won't defeat inflation, and why gold may be signaling what comes next. (0:00) Starts (3:14) Regime change & parallels to post-World War II Europe (8:06) The search for yield is dangerous (17:38) The disconnect between GDP growth and equity returns (23:14) The impact of inflation & deflation on equity valuations (25:56) Technology doesn't defeat inflation (30:20) Monetary system changes, gold prices, and American exceptionalism (37:50) Extrapolation is the opiate of the people (48:26) Book recommendations ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Richard Bernstein, Chief Investment Officer of Richard Bernstein Advisors, which he founded in 2009. He was previously the Chief Investment Strategist at Merrill Lynch. In today's episode, Richard argues that the market is defined by rampant speculation and extreme narrowness. He explains why he's bullish on both dividend-paying and international stocks and believes crypto is the first global investment bubble. To close, he warns that corporate credit is priced for perfection, inflation risks aren't gone, and diversification is the best defense in a bubble-prone market. (0:00) Starts (1:20) Richard on market narrowness & speculation (6:21) The Earnings Expectations Life Cycle (12:33) Non-US stocks are undervalued (18:38) Small cap trends and long-term investment themes (24:14) American Industrialization Renaissance (27:10) Corporate credit risk (33:42) Is the Fed independent? (36:38) Is crypto the first global investment bubble? (41:11) The importance of financial history (46:07) Richard's most memorable investment ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Join Alpha Architect's LIVE webinar Feb 3rd to learn if a 351 Exchange may fit your clients' needs.  Before the webinar, visit Alpha Architect's 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Marc Faber, editor of the “Gloom Boom & Doom Report.” In today's episode, Marc explores the unpredictable nature of financial markets, the resurgence of precious metals and how money printing has fueled economic inequality. He argues that bonds are currently under-owned and may offer opportunity, and explains why emerging markets such as Thailand and Vietnam deserve consideration.  To close, Marc underscores the importance of diversification in an increasingly uncertain world. (0:00) Starts (2:25) The rise of precious metals (10:18) Impact of money printing on asset prices and social problems (23:14) Bond bull case (29:31) History of wealth redistribution (36:13) Global investment insights: Thailand & beyond (48:40) Importance of diversification ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Want to learn more about 351 Exchanges? Visit Alpha Architect's 351 Education Center for use cases, tools, FAQs, upcoming launches, and more.  Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Cullen Roche, Chief Investment Officer at Orcam Financial Group and Discipline Funds. His latest book is Your Perfect Portfolio: The ultimate guide to using the world's most powerful investing strategies. In today's episode, Cullen walks through the principles of portfolio construction. He emphasizes the importance of viewing investments as a means of savings rather than a quick path to wealth. Cullen explores the significance of time horizons in investment decisions, why real returns are what matter, and the origins of the 60/40 portfolio. (0:00) Starts (1:38) Principles of portfolio construction (6:12) Real vs nominal returns (11:01) Asset allocation and time horizon considerations (26:59) Evaluating the role of government bonds in portfolios (30:21) Origins of the 60/40 portfolio (37:44) The forward cap portfolio (46:49) The concept of duration in investing (56:23) Disciplined Funds (1:02:39) Asset liability matching (1:03:15) Factors influencing investor behavior ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, host Travis Chappell answers a big-picture question from producer Eric: What is your current investment philosophy—and how has it changed since your first deal? He walks through hard-won lessons from real estate flips, angel bets, crypto, and his own failed startup to explain why most people should stop trying to “beat the market” and focus on boring, compounding plays instead.​ On this episode we talk about: Travis' early “invest in yourself and real estate” mindset—and what he actually got right from the start How chasing deals he did not fully understand (random startups, friend projects, private loans) mostly went to zero Why even elite angel investors like Jason Calacanis expect the vast majority of deals to fail Dan Fleyshman's rough allocation model: most into low-risk, compounding assets (index funds/blue-chip stocks), a slice into medium-risk plays (like real estate), and a small “home run” bucket for angel/venture-type bets Why Travis now sees the S&P 500 and broad market exposure as a better default than stock-picking or timing trades Regrets about selling real estate too soon and why his rule now is “never sell if humanly possible” How he currently thinks about crypto (Bitcoin/Ethereum-heavy, minimal alt-coins) and why he treats big swings as speculation, not core investing The crucial distinction between investing (long-term, compounding, boring) and speculating (fun, risky, totally optional) Top 3 Takeaways You are probably not going to beat the market. Unless investing is your full-time job, broad, diversified, long-term holdings will almost always outperform your attempts to time or outsmart the market. Real estate rewards patience, not flipping for quick cash. Selling properties early to free up a bit of short-term liquidity often means walking away from six-figure equity decades later. Speculation should be play money only. Crypto punts, angel rounds, and friend-startup checks belong in a small “casino bucket,” not in the same pile as your retirement and financial freedom money. Notable Quotes “If I had just put what I put into random companies into the S&P, it would be about double today instead of almost zero.” “Most people use 100% of their investing for play money—and then get mad when the ‘big swing' goes to zero.” “Time in the market beats timing the market. Put it in, let it ride, and stop trying to be a wizard trader.”​ ✖️✖️✖️✖️

Dave Rubin of "The Rubin Report" shares the best stories, insights and moments from his sit down interviews of 2025 featuring: Tony Robbins, Peter Thiel, Dr. Phil McGraw, Stephen A. Smith, Jordan Peterson, Bill O'Reilly, Piers Morgan, Douglas Murray, Jason Calacanis, Cheryl Hines, Dr. Mehmet Oz, Scott Galloway, Rob Hersov, David Zucker, Ron DeSantis, Eric Trump, Sage Steele, Eric Weinstein, Bjørn Lomborg, Jillian Michaels, Liz Truss, Tony Abbott, Sen. John Kennedy, Frankie Valli and many more! Watch ALL the FULL INTERVIEWS HERE: https://www.youtube.com/playlist?list=PLEbhOtC9klbBR3q4AO9AdVjeC9r5RyZFP  Check out the NEW RUBIN REPORT MERCH here: https://daverubin.store/ ---------  Today's Sponsors: Tax Network USA - If you owe back taxes or have unfiled returns, don't let the government take advantage of you. Whether you owe a few thousand or a few million, they can help you. Call 1(800)-958-1000 for a private, free consultation or Go to: https://tnusa.com/dave Noble Gold Investments - Whether you're looking to roll over an old 401(k) into a Gold IRA or you want physical gold delivered right to your home Noble Gold makes the process simple. Download the free wealth protection kit and open a new qualified account and get a FREE 10-ounce Silver Flag Bar plus a Silver American Eagle Proof Coin. Go to http://DaveRubinGold.com Recharge - The Wellness Company has a way to stay focused, energized, and mentally resilient. This doctor-formulated nutraceutical is the first to combine methylene blue with Urolithin A, creating a unique formula designed to optimize mitochondrial function, improve energy, and elevate cognitive performance. Rubin Report viewers get 15% off plus FREE shipping at checkout when they use code: RUBIN. Go to: https://TWC.health/RUBIN and use CODE: RUBIN

Today's guest is Jack Ablin, CIO at Cresset Asset Management, which manages over $70 billion AUM. Jack was RIA Intel's “CIO of the Year” for 2022 and was previously the CIO at BMO for 17 years. In today's episode, Jack walks through the ins and outs of investing in founder-led companies and what has led them to historically outperform. He also explains his approach to asset allocation, which structures portfolios based on time horizons rather than traditional asset classes. Finally, he offers an outlook for equities and fixed income next year, discusses private market opportunities, and looks at the future of Cresset Asset Management. (0:00) Starts (1:51) Overview of Cresset Asset Management (6:40) Founder-led companies: Advantages and portfolio impact (19:52) Fixed income and private market investment strategies (26:32) Future prospects in Opportunity Zones and equities (31:15) Currency considerations and foreign investment opportunities (37:01) Jack's most memorable investment ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is David McWilliams, an economist, podcast host and author. David worked at the Central Bank of Ireland, UBS and BNP Paribas and is the founder of the Kilkenomics Festival, a unique blend of economics and stand-up comedy. His book is called The History of Money: A Story of Humanity, which is my favorite book from 2025. In today's episode, David walks through the evolution of money over the last 5,000 years. He explains why money is a foundational social technology that is central to every aspect of our civilization, from the political to the artistic. He delves into historical anecdotes—from clay tablets in Mesopotamia to Gutenberg's printing press to Martin Luther's disruptive influence on the church. Throughout the episode, he emphasizes that economists need to do a better job helping people understand money and its role in navigating modern economic principles. (0:00) Starts (1:26) David explains the Kilkenomics Festival (3:41) David McWilliams on "Money, The History of Money, A Story of Humanity" (9:55) Evolution and trust in money throughout history (26:28) Impact of the Gutenberg printing press and Martin Luther (36:42) Historical perspectives on speculation and losing money (43:18) Future of economics, storytelling, and equity culture differences (49:18) Educating youth on finance and investing ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Learn more about Alpha Architect and important information about the fund: funds.alphaarchitect.com/aaua  Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). ----- Ad Disclaimer: This information does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. Certain information contained herein has been obtained from third party sources and such information has not been independently verified by The Idea Farm. No representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by The Idea Farm or any other person. While such sources are believed to be reliable, The Idea Farm does not assume any responsibility for the accuracy or completeness of such information. The Idea Farm does not undertake any obligation to update the information contained herein as of any future date. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Rick Rieder. Rick oversees more than $2 trillion in assets as the Chief Investment Officer of Global Fixed Income at BlackRock. He also heads the Fundamental Fixed Income business and the Global Allocation Investment Team. In today's episode, Rick discusses the current state of the markets, focusing on year-end dynamics, free cash flow at big-tech companies, and the evolving economic landscape since Liberation Day. He explains both what he expects the Fed to do and what he thinks they should do, and how that relates to portfolio construction. The discussion also explores the differences between gambling and investing, lessons from tennis that apply to investing, and much more. (0:00) Starts (1:31) Rick Rieder's market thoughts (4:23) Market sentiment and cash flow impacts (7:18) Small caps, M&A potential, and broad economic concerns (17:12) Interest rate forecasts (21:13) BINC ETF and fixed income outlook (24:28) Gambling vs. investing (31:36) Perspectives on precious metals and technological investment implications (35:27) Investing advice for young people and 2026 outlook ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Nick Maggiulli. Nick is the COO for Ritholtz Wealth Management. He writes over at Of Dollars at Data and is the author of two books: Just Keep Buying and The Wealth Ladder. In today's episode, Nick discusses the parallels between financial and medical advice, the differences in asset ownership across wealth levels, and the importance of adapting financial strategies over time. He also explores wealth mobility, the role of luck in wealth accumulation, and the challenges of diversification versus concentration in investment strategies. (0:00) Starts (1:38) Nick explains the wealth ladder (6:48) Asset composition across wealth levels (13:48) Human capital and wealth data analysis (19:33) Diversification vs. concentration (22:44) Behavioral finance and investment strategies (25:56) Real estate ownership and investment timing strategies (36:26) Fun investing stats (44:51) Nick's most memorable investment ----- Sponsor: Alpha Architect - Learn more about Alpha Architect and important information about the fund: funds.alphaarchitect.com/caos   ----- Follow Meb on⁠ X⁠,⁠ LinkedIn⁠ and⁠ YouTube⁠ For detailed show notes, click ⁠here⁠ To learn more about our funds and follow us, subscribe to our ⁠mailing list⁠ or visit us at⁠ cambriainvestments.com⁠ ----- Follow The Idea Farm: ⁠X⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠TikTok⁠ ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include ⁠Ed Thorp⁠, ⁠Richard Thaler⁠, ⁠Jeremy Grantham⁠, ⁠Joel Greenblatt⁠, ⁠Campbell Harvey⁠, ⁠Ivy Zelman⁠, ⁠Kathryn Kaminski⁠, ⁠Jason Calacanis⁠, ⁠Whitney Baker,⁠ ⁠Aswath Damodaran⁠, ⁠Howard Marks⁠, ⁠Tom Barton⁠, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out ⁠here⁠!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Antti Ilmanen, Global Co-head of the Portfolio Solutions Group at AQR Capital Management. In today's episode, Antti discusses the complexities of investment returns, the importance of understanding both objective and subjective expectations, and the dangers of relying on past performance as a guide for future investments. We explore the current state of the US market, the role of diversifiers in portfolios, and the behavioral biases that affect investor decisions. Antti also contrasts the behaviors of bond investors, which tend to be more contrarian, and equity investors, which tend to extrapolate. (0:00) Starts (1:13) Humility in forecasting market expectations (8:26) Comparing institutional and retail investor behavior (24:33) Sentiment analysis in markets (36:18) Bond vs. equity investor mindsets (48:11) Liquid vs. illiquid alternative investments (56:26) The diversification benefits of trend following ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Chris Clark. Chris was a biotech PM for 10 years at RS Investments, managing $4.5 billion. In today's episode, Chris discusses the complexities of the biotech sector, which has suffered a dramatic drawdown the past few years. He begins by explaining how biotech works, why it's such a unique sector, and what has kept investors and companies frozen the past few years. He also explains the different perspectives of venture capitalists and public market investors, the current regulatory environment and how AI may reshape drug development. (0:00) Starts (1:20) Biotech industry overview (18:09) Can you be a quant in biotech? (25:09) Biotech market cap distribution and benchmark underweighting (34:47) Addressing biotech volatility, market outlook, and non-pro investing tips (47:02) Private vs. public biotech investments (1:01:32) Global biotech markets (China) (1:09:48) AI and regulatory impact on biotech (1:21:14) US healthcare spending (1:33:48) Chris' most memorable investment ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Joe Davis, Vanguard's Global Chief Economist and Global Head of Vanguard's Investment Strategy Group. His latest research on megatrends is covered in his book, Coming Into View: How AI and Other Megatrends Will Shape Your Investments. In today's episode, Joe explains why the coming decade for the U.S. economy will be shaped by a tug-of-war between AI and demographics-driven deficits. While the most likely outcome is optimistic (the benefits of AI offset demographic pressures), the next most likely outcome is pessimistic (AI fails to meet our expectations and growth tumbles, putting pressure on the government's balance sheet). Joe emphasizes the need for investors to prepare for non-consensus outcomes and embrace diversification to navigate this uncertain future.  Listen to Joe's first appearance on the show in February 2020. (0:00) Starts (1:40) AI's impact on the economy (7:26) Megatrends and technological change (19:18) Financial market signals, narratives, and nonconsensus outcomes (25:23) Comparing hype in AI stocks, gold, and economic scenarios (32:44) Historical technology cycles (41:48) The role of international bonds in a diversified portfolio (47:47) AI's impact on financial advisors (55:10) The future of automation & AI ----- Sponsor: ⁠AcreTrader⁠ is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit ⁠acretrader.com/meb⁠. ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Kathryn Kaminski, Chief Research Strategist at AlphaSimplex, where she's also the co-portfolio manager for the firm's Managed Futures Strategy and Global Alternatives Strategy. She also co-authored the book Trend Following with Managed Futures: The Search for Crisis Alpha. In today's episode, Meb and Katy discuss the tough year for managed futures strategies, which have experienced the 2nd largest drawdown in the last quarter century. Katy walks through the history of drawdowns and recoveries since 2000, explaining investors who have been patient in the past have been rewarded when the strategy recovers. She emphasizes managed futures' ability to serve as a diversifier to stocks, revisits her research on crisis alpha, and touches on the rise of managed futures ETFs as a way for investors to get exposure to this asset class. Listen to Katy's first appearance in May 2021. (0:00) Starts (1:05) Katy's thoughts on managed futures in 2025 (3:31) Lessons from past drawdowns (10:04) The patience premium (17:10) Follow the trends (22:12) Crisis Alpha revisited (26:01) Managed futures accessibility and ETFs (29:35) Replication methods (35:02) Implementing AI ----- Follow Meb on⁠ X⁠,⁠ LinkedIn⁠ and⁠ YouTube⁠ For detailed show notes, click ⁠here⁠ To learn more about our funds and follow us, subscribe to our ⁠mailing list⁠ or visit us at⁠ cambriainvestments.com⁠ ----- Follow The Idea Farm: ⁠X⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠TikTok⁠ ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include ⁠Ed Thorp⁠, ⁠Richard Thaler⁠, ⁠Jeremy Grantham⁠, ⁠Joel Greenblatt⁠, ⁠Campbell Harvey⁠, ⁠Ivy Zelman⁠, ⁠Kathryn Kaminski⁠, ⁠Jason Calacanis⁠, ⁠Whitney Baker,⁠ ⁠Aswath Damodaran⁠, ⁠Howard Marks⁠, ⁠Tom Barton⁠, and many more.  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Peter Levin, co-founder of Griffin Gaming Partners, the largest singularly focused gaming investment vehicle in the world. Peter was previously the CEO and co-founder of Nerdist Industries, which was acquired by Legendary Entertainment. He began his career at CAA, had a stint at Disney, sold a company to UFC, and was also an early advisor and investor to Rovio aka Angry Birds. In today's episode, Peter discusses the evolution of the gaming industry, highlighting the dominance of gaming IP. He touches on the rise of indie games, the impact of AI on the space and why he avoids trends like esports, AR and VR. (0:00) Starts (1:47) Peter Levin's background in gaming (5:37) Gaming's transition to mobile gaming and post-2000s developments (13:49) Comparison of gaming industry to traditional media and the rise of indie gaming (20:45) Changes in gaming revenue models (27:30) VR and AR challenges (35:50) Using a Data-driven approach to invest in gaming startups (47:00) Impact of AI on game development (56:32) Peter's most memorable investment ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's Mebisode, Meb reads his latest paper, “When to Sell?” ----- Follow Meb on⁠ ⁠⁠X⁠,⁠ ⁠⁠LinkedIn⁠ and⁠ ⁠⁠YouTube⁠ For detailed show notes, click ⁠here⁠ To learn more about our funds and follow us, subscribe to our ⁠mailing list⁠ or visit us at⁠ ⁠⁠cambriainvestments.com⁠ ----- Follow The Idea Farm: ⁠X⁠ | ⁠LinkedIn⁠ | ⁠Instagram⁠ | ⁠TikTok⁠ ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include ⁠Ed Thorp⁠, ⁠Richard Thaler⁠, ⁠Jeremy Grantham⁠, ⁠Joel Greenblatt⁠, ⁠Campbell Harvey⁠, ⁠Ivy Zelman⁠, ⁠Kathryn Kaminski⁠, ⁠Jason Calacanis⁠, ⁠Whitney Baker,⁠ ⁠Aswath Damodaran⁠, ⁠Howard Marks⁠, ⁠Tom Barton⁠, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out ⁠here⁠!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). ----- The information set forth herein is for informational purposes only and does not constitute financial, investment, tax or legal advice. Please see the appropriate professional advisor for advice specific to your situation. There is no guarantee that a particular investment strategy will be successful. Opinions expressed herein are subject to change at any time. Past performance does not guarantee future results. All investments are subject to risks, including the risk of loss of principal.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Carl Richards. Carl is a Certified Financial Planner, built and sold an investment firm, and hosts the podcast 50 Fires, which is backed by Chip and Joanna Gaines. He's also the author of The Behavior Gap and The One-Page Financial Plan and his newest book is called Your Money: Reimaging Your Wealth with 101 Simple Sketches. In today's episode, Carl discusses the emotional aspects of money and how our perceptions of wealth can be influenced by societal norms and personal experiences. He introduces concepts like the emotional balance sheet and the overnight test for investment decisions, emphasizing the need to align financial choices with personal goals rather than external pressures. The discussion also touches on the impact of news and social media on financial behavior. (0:00) Starts (1:15) Introduction of Carl Richards (5:32) Emotional aspects of money (12:19) The overnight test (20:26) Focusing on what you can control (24:36) Fundamental investing principles (28:11) Social comparisons and social media effects (32:28) The concept of perceived wealth (37:16) Lifestyle inflation and hedonic adaptation (44:39) Diversification and performance chasing performance (48:22) The impact of news on investments and when to sell (52:13) Scarcity vs abundance mindset (54:51) Celebrating milestones, Carl's future plans, and reader responses ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Justin Trudeau is in a new relationship, and it's out of this world. He's over the moon about her. Utterly starstruck. It's Astronaut Katy Perry! Buzzfeed is back. Just kidding. It never went away. Nowadays, Buzzfeed is pushing microfeminism to own men. Let's check in on how that's going. Former President Barack Obama just won't go away. He went on Marc Maron's podcast to whine, push climate change and be soft on crime. Thanks, Obama!GUEST: Jason Calacanis | Josh FirestineLink to today's sources: https://www.louderwithcrowder.com/sources-october-14-2025Buy the OG Mug Club Mug on Crowder Shop now! https://crowdershop.com/products/og-mug-club-mugDownload Perplexity's new AI-web browser, Comet, by heading to http://pplx.ai/Crowder and let your browser work for you. Plus, right now when you download Comet - you get a month of Rumble Premium for free!Go to http://xlear.com/ use code LWC20 for a 20% discount.DOWNLOAD THE RUMBLE APP TODAY: https://rumble.com/our-appsJoin Rumble Premium to watch this show every day! http://louderwithcrowder.com/PremiumGet your favorite LWC gear: https://crowdershop.com/Bite-Sized Content: https://rumble.com/c/CrowderBitsSubscribe to my podcast: https://rss.com/podcasts/louder-with-crowder/FOLLOW ME: Website: https://louderwithcrowder.com/ Twitter: https://twitter.com/scrowder Instagram: http://www.instagram.com/louderwithcrowder Facebook: https://www.facebook.com/stevencrowderofficialMusic by @Pogo

Today's guest is Eddy Elfenbein, one of the OG financial bloggers at Crossing Wall Street. Eddy also runs the CWS ETF, which is from his annual buy list of 25 stocks. In today's episode, Eddy shares his insights on investing, stock selection, and the challenges of managing an ETF. He discusses the origins of his buy list, his investment philosophy focused on high-quality stocks, and the importance of understanding market cycles. Eddie also provides advice for aspiring ETF managers and reflects on the unique stock picks that have defined his career. (0:00) Starts (3:22) Eddie's buy list concept and CWS ETF launch (9:55) Eddy's investment philosophy (19:36) Stock picking challenges and notable winners (22:45) Market misconceptions (28:38) Elfenbein's stock market theory (38:20) Eddy's most memorable investment (44:54) Market concerns and investment strategies ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Tobias Carlisle, founder of Acquirers Funds and serves as portfolio manager of the firm's deep value strategy. He's just released a book called Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking. In today's episode, Toby starts by discussing the current valuation landscape and the challenge for small cap investors. Then he explores the intersection of Warren Buffett's investment philosophy with Sun Tzu's teachings. He walks through notable investment case studies, including General Re, Burlington Northern and Japanese trading houses. The case studies all convey the significance of patience, strategic thinking, and the pursuit of asymmetric opportunities in investing, while also addressing the psychological aspects that influence investor behavior. (0:34) Introduction of Tobias Carlisle (1:32) Value investing in current market conditions (4:04) Market outlook and valuation differences across cap-sizes (10:03) Jay Powell's recent comments (13:57) Toby's new book (19:54) The Gen Re investment (26:33) Buffett's investment in Japan and Apple (32:57) Buffett's investment principles and managing FOMO (42:30) Comparing low volatility and high beta stocks ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.  ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

The economic populists at the Nat Con conference may be talking a lot about elites screwing over the little guy, but the Trump administration itself has been catastrophic for working people—its policies are all about doing special favors for elite interests. And while many loud voices in Silicon Valley cursed the Biden administration for blocking some deals, other start-ups appreciated the efforts to try to level the playing field against the tech giants. Plus, a response to Jason Calacanis, how Dems can shake off their elite vibes, and resisting the temptation to run for office. Former FTC chair Lina Khan joins Tim Miller. show notes Tim's interview last month with Jason Calacanis This week's TNL Bulwark Live in DC and NYC at TheBulwark.com/events. Toronto is SOLD OUT For a limited time only, get 60% off your first order PLUS free shipping when you head to Smalls.com/THEBULWARK.