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Welcome back to Impact Theory. In today's episode, I dive deep into the wild ride happening right now in the bond market and what it means for the future of the US dollar and the global economy. The conversation focused on the so-called “resource curse”—comparing America's role as issuer of the world's reserve currency to regions that failed to capitalize on their natural resources, and questioning if this privilege is actually a double-edged sword.One concept discussed is whether the benefits the US has reaped from dollar dominance have led us into fiscal irresponsibility and a dangerous dependence on selling money to the world instead of making real things at home. A key theme that emerged is how government strategies—like moving debt from long-term to short-term, flirting with yield curve control, and leveraging emerging tools like stablecoins—are designed to manage mounting debt but could have far-reaching consequences for people's savings, investments, and the country's economic future.The discussion explored how inflation, rising interest payments, and global moves away from the dollar are creating new risks and uncertainties, especially for retirees and ordinary investors. Several points were raised, including the critical impact of trust in US debt, the erosion of manufacturing capacity, and whether these fiscal maneuvers are buying time or simply delaying a reckoning. Get ready for a no-holds-barred look at what's happening behind the scenes—because understanding these moves is key to protecting your personal and financial future.What's up, everybody? It's Tom Bilyeu here:Want my help starting a business? Join me here inside Zero To FounderSign up for my AI Masterclass: AI MasterclassFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuTailor Brands: Check out Tailor Brands to get started with your business today: https://tailorbrands.go2cloud.org/aff_c?offer_id=129&aff_id=9505&aff_sub2=septemberQuince: Free shipping and 365-day returns at https://quince.com/impactpodElevenLabs: Book your demo at https://elevenlabs.io/impactpodButcherbox: Go to https://ButcherBox.com/IMPACT to get $20 off your first box, plus your choice of free ribeye, new york strip, or filet mignon in every box for a year — with free shipping alwaysQuo: ​​Try for free PLUS get 20% off your first 6 months at https://quo.com/impactShopify: Sign up for your free trial period at https://shopify.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Incogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactbond market, US dollar, reserve currency, Scott Bessent, de-dollarization, national debt, Treasury bonds, interest rates, gold reserves, inflation, fiat currency, fiscal policy, austerity, resource curse, US manufacturing, financial repression, yield curve control, stablecoins, short-term debt, long-term debt, central banks, global financial system, economic growth, budget deficit, Treasury General Account, asset prices, capital flight, US Treasury auctions, foreign central banks, purchasing powerSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=socialWhat's up, guys? Today, we have a truly mind-bending episode ahead with Drew, my incredible co-host, and we are attacking the biggest questions around artificial intelligence, cybersecurity, and global power in real time. Drew is a sharp thinker and dynamic conversationalist, and together we're diving deep into the realities of AI as a weapon system, data poisoning risks, and what regulation needs to look like as the arms race heats up.If you've been feeling overwhelmed by the pace of AI, the threat of global instability, or wondering how all these forces shape your freedom, your money, and your future, this one is not to be missed. We're breaking down everything from how easy it is to turn AI into a “Manchurian candidate” to why even the Fed and Treasury might be teaming up in ways that affect your personal finances. You are going to leave this episode with specific tactics you can act on AND a clarity of perspective on what's really happening behind the scenes in tech, politics, and culture.If you're ready to stop being confused by the headlines and start thinking for yourself, don't sleep on this one. And if this episode hits home, do me a favor—drop that review. That's literally what helps us get these conversations out to more people who want to play at the highest level.I'm Tom Bilyeu, and welcome to Impact Theory.Sponsors:Quince: Free shipping and 365-day returns at https://quince.com/impactpodElevenLabs: Book your demo at https://elevenlabs.io/impactpodButcherbox: Go to https://ButcherBox.com/IMPACT to get $20 off your first box, plus your choice of free ribeye, new york strip, or filet mignon in every box for a year — with free shipping alwaysQuo: ​​Try for free PLUS get 20% off your first 6 months at https://quo.com/impactShopify: Sign up for your free trial period at https://shopify.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Incogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

AI agents are going rogue — deleting bookings, sending unauthorized emails, and lying about it — and Blake and David trace the trend into the $3 trillion of off-balance-sheet AI commitments hiding in Big Tech's footnotes (and why accountants will get blamed when the bubble pops). They also recap what stood out at XeroCon 2026. Then Hoover Institution fellow Ben Jaros runs the real numbers on California's Prop 40 billionaire wealth tax — why the $100 billion estimate is closer to $40 billion, and whether taxing 200 people is even constitutional.SponsorsCanopy - http://accountingpodcast.promo/canopyThomson Reuters - http://accountingpodcast.promo/taxautomationOnPay - http://accountingpodcast.promo/onpayCloud Accountant Staffing - http://accountingpodcast.promo/casChapters(00:00) - Welcome to The Accounting Podcast (03:00) - Rogue AI Agents Gone Wild (07:53) - Controlling Agent Permissions (12:08) - Microsoft AI Receivables Surge (14:49) - Three Trillion Off Book Commitments (17:09) - Meta Hyperion Lease Loopholes (21:33) - Bubble Risk and Circular Financing (28:24) - XeroCon Highlights and AI Agents (32:21) - Bank Reconciliation and Roadmap Gripes (34:10) - Conference Vaporware Rant (34:37) - Billionaire Tax Preview (36:33) - Prop 40 Basics (38:40) - Revenue Reality Check (42:44) - Residency Cutoff Drama (45:01) - Wealth Tax vs Income Tax (45:52) - One Time Or Not (46:34) - Healthcare Backfill Claims (51:42) - Better Ways To Tax (55:23) - Constitutional Challenges (58:01) - Why Voters Oppose It (01:02:09) - Trial Balloon And Wrap Up  Show NotesComing soon!Need CPE?Get CPE for listening to podcasts with Earmark: https://earmarkcpe.comSubscribe to the Earmark Podcast: https://podcast.earmarkcpe.comGet in TouchThanks for listening and the great reviews! We appreciate you! Follow and tweet @BlakeTOliver and @DavidLeary. Find us on Facebook and Instagram. If you like what you hear, please do us a favor and write a review on Apple Podcasts or Podchaser. Call us and leave a voicemail; maybe we'll play it on the show. DIAL (202) 695-1040.SponsorshipsAre you interested in sponsoring The Accounting Podcast? For details, read the prospectus.Need Accounting Conference Info? Check out our new website - accountingconferences.comLimited edition shirts, stickers, and other necessitiesTeePublic Store: http://cloudacctpod.link/merchSubscribeApple Podcasts: http://cloudacctpod.link/ApplePodcastsYouTube: https://www.youtube.com/@TheAccountingPodcastSpotify: http://cloudacctpod.link/SpotifyPodchaser: http://cloudacctpod.link/podchaserStitcher: http://cloudacctpod.link/StitcherOvercast: http://cloudacctpod.link/OvercastClassifieds Flowglad - https://cal.com/team/flowglad/flowgladFearless Foundry - www.advisoryamplified.comExpense Bot - https://www.expensebot.ai/accountantProfitRoot - https://tryprofitroot.com/Want to get the word out about your newsletter, webinar, party, Facebook group, podcast, e-book, job posting, or that fancy Excel macro you just created? Let the listeners of The Accounting Podcast know by running a classified ad. Go here to create your classified ad: https://cloudacctpod.link/RunClassifiedAdTranscriptsThe full transcript for this episode is available by clicking on the Transcript tab at the top of this page

See what the team at The Successful Bookkeeper has on right now → If you've been watching the AI wave roll in and wondering what it means for your bookkeeping practice, this episode is for you. Alex Lee, co-founder and CEO of Truewind, brings a clear-eyed perspective grounded in three and a half years of building AI tools specifically for accountants. His message is direct: the future of accounting has always been about you, and that isn't changing. Chapters [00:00] Opening: Fear and Opportunity [01:18] Alex Lee's Unlikely Path to AI [04:18] The Future Is Still You [08:00] Will AI Replace Bookkeepers? [12:00] Crawl, Walk, Run: Getting Started [16:30] AI Adoption Across the Profession [19:30] Data Privacy and Security Checklist [24:00] Vision for Accounting's Future [27:00] About Truewind The Work That Has Always Mattered Alex draws a useful historical line — from carving debits and credits in limestone, to paper ledgers, to file cabinets, to cloud software, and now AI. "I see AI as the next iteration of technology that may shape how accountants are doing the work," he says. "But ultimately, the work of the accountants is the same." What AI does is create space for bookkeepers to spend more time on the things that are genuinely hard to automate: being a trusted advisor, being a real business partner, and — as Alex puts it — shaking hands and looking someone in the eye. Those things don't disappear no matter how good the models get. The Spreadsheet Comparison Worth Remembering When the fear of replacement comes up — and it does — Alex points to a pattern that has played out before. When spreadsheets arrived, people predicted mass job losses in accounting. Instead, the profession grew. Some small business owners did start managing their own five-line chart of accounts, and some will use AI to handle basic recordkeeping themselves. But that's not your client. "As accountants, it puts you in a very unique position to elevate yourself in terms of your AI skills and demonstrate to businesses, I know how to use this tool exceptionally well." The expertise gap has always been the value. AI doesn't close that gap — it widens it in your favor if you lean in. A Crawl, Walk, Run Framework for Getting Started Alex is practical about adoption. Start by picking one AI tool you've already heard of — maybe tried once — and use it for everyday tasks: drafting a client email, writing a performance review, planning a trip. Get comfortable at that level before adding complexity. Walking looks like connecting your AI to your Slack, email, or call recordings and asking it to synthesize information — summarizing client pain points before a proposal, for example. Running is letting AI handle a meaningful portion of your day-to-day operations. "Just get started," Alex says. "Over time, get more sophisticated, and then over time, let it be the primary operating system for you." Handling Data Privacy the Right Way Financial data demands careful handling, and Alex doesn't gloss over it. His checklist for vetting any AI vendor: confirm they are SOC 2 Type 2 compliant with a reputable auditor (not a quick rubber-stamp), verify that data privacy agreements exist between your vendor and the underlying model providers like OpenAI or Anthropic, and look for a genuine philosophy of data protection — not just a claim on a website. For teams that are still nervous about connecting client data to AI tools, his advice mirrors the crawl-walk-run approach: start by using AI internally with your own team's Slack and shared drives. Build confidence there before expanding to client-facing workflows. A Bigger Demand for Accountants Is Coming Alex's outlook for the next one to five years is genuinely optimistic. He sees AI acting as a catalyst for what he calls a "Cambrian explosion of demand for accounting." As business models shift from billable hours toward fixed-fee engagements and technology enables firms to handle more clients with the same headcount, he expects more businesses — not fewer — to seek out qualified accounting professionals. "Accountants can get more done with less, driving an influx of demand for what accounting firms can provide." The firms positioning themselves now, building AI literacy and deepening client relationships, are the ones that will be ready to capture that demand. Links Mentioned Truewind — Alex's AI-powered accounting platform The Successful Bookkeeper — show resources and guest information PureBookkeeping — episode sponsor, proven system to grow your bookkeeping business About the Guest Alex Lee is the co-founder and CEO of Truewind, an AI-powered accounting platform built for accounting firms and corporate finance teams. Before founding Truewind, Alex worked as an aerospace engineer at Boeing, spent time in venture capital, and built a financial planning and analysis company. Truewind launched in the same month as ChatGPT and has spent the past three and a half years building what Alex describes as an "agentic workspace" for accountants — integrating with QuickBooks Online, Sage Intacct, and NetSuite to help teams cut close time by 30 to 50%. You can reach Alex directly on LinkedIn or learn more at truewind.ai. About the hostMichael PalmerMichael Palmer is the host of The Successful Bookkeeper podcast and co-founder of Pure Bookkeeping and The Successful Bookkeeper. He started this work because of his father — a brilliant electrical contractor who worked twice as hard as he should have had to, because nobody on the financial side was in his corner. That gap is what The Successful Bookkeeper exists to close. His view: bookkeepers are the most undervalued force in small business — and every bookkeeper who builds a real business changes two families: theirs, and their clients'.

CJ sits down with Rebecca Schwartz of Tabs, Fred Havemeyer of Fleet AI, and Rahul Rekhi of Rogo for a live conversation about what it actually takes to build an AI-native company. —SPONSORS:RightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cjPulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetricsRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjMaximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsAnrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtnEY has been part of Silicon Valley since it was just a valley, helping the most successful names in tech go from startup to exit to megacap. With teams across strategy, tax, audit, and transactions, EY helps you get your financials right early, long before your investors start asking for it. You build the next big thing, and EY will help you build it right. Learn more at https://www.ey.com/techstartups—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNhttps://www.tabs.com/https://fleetai.com/https://www.rogo.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:0:00 Preview and Intro1:16 Welcome to Run the Numbers3:17 Meet the Panel: Rebecca, Fred, Rahul9:52 How Rogo Found PMF13:47 How Tabs Found PMF14:51 Growth Rates: Headcount and Revenue16:23 The Real Hiring Constraint17:21 What "Forward Deployed" Actually Means18:53 What's Blocking AI Adoption Now20:19 How Sales Hiring Has Changed24:34 How Go-to-Market Has Changed25:28 Pricing Models: Then vs. Now28:18 Tabs' Pricing Evolution29:20 What the Finance Team Looks Like31:00 How Far You Can Push Outsourced Accounting32:43 Managing AI Gross Margins35:07 The North Star Metric for AI Companies37:02 Token Spend vs. Per-Seat Pricing39:34 Asking Better Questions: What Counts as ARR41:38 Biggest Bug in Cash to Collections43:05 Closing Advice for Founders

What's up, everybody? It's Tom Bilyeu here:Want my help starting a business? Join me here inside Zero To FounderSign up for my AI Masterclass: AI MasterclassFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.The team breaks down the viral $300,000 debate between Candace Owens and Andrew Wilson—and argues it was a case study in everything wrong with online debating. The host's core point: the two were trying to litigate a criminal case whose facts haven't been established in court, arguing "internal frame versus internal frame," which inevitably devolves into madness when those frames don't intersect. He's pointed that this isn't about who's likable—he argues Wilson walked in as a "frame of reference" debater whose bully-the-room tactics collapsed against someone prepared, and that Wilson couldn't name the actual charges in the case while Candace could, making him look like he wasn't arguing from real command of the facts. On Candace, the host makes a deliberately careful epistemics argument: whatever you think of her conclusions, treating "she's obviously wrong" as self-evident is itself a frame-of-reference trap—because the facts of the trial (Tyler Robinson has not yet entered a plea, and the case hasn't been argued) simply aren't out yet, so neither side can claim proof. He predicts how the trial may play out and why the defense's choices about which evidence to use will be the real tell, while stressing repeatedly that he's speculating and that the honest position right now is "we don't know." Ryan and the team push on where the line sits between healthy skepticism and conspiratorial thinking, and the group lands on a shared lesson: don't get pulled into a debate when there's no agreed framework for adjudicating it, and wait for the facts before declaring a winner.The team breaks down the public exchange between Rep. Ro Khanna, who argues America must tax wealth and redistribute from billionaires, and Mark Cuban, who pushes back that "ideology is not a strategy." The host agrees with the diagnosis but not the cure: he concedes that people genuinely feel the system isn't working for them—and that they're right, pointing to the college-debt pipeline, an abusive housing market, and currency inflation eroding savings—but argues that taxing wealth misidentifies the solution. Walking through Cuban's argument, he explains the mechanics most people miss: founders of $10B "deca-unicorns" are typically cash-poor and stock-rich, worth billions on paper while the raised money goes into the company, not their pockets—so a wealth tax forces them to sell or borrow against speculative shares, which is often impossible and destructive to the company itself. He highlights Cuban's warning that a California wealth tax (Prop 40) would simply push investors to require startups to relocate to Texas, Indiana, or Florida first—meaning the state loses deca-unicorns it never even sees leave—and that "when you tax something, you get less of it." He connects it to his recurring critique of Bernie Sanders' framing: even if the revenue estimate were real (roughly $20B/year against a ~$30B Medicaid funding gap), you can only spend it once, and the act of liquidating shares to collect it would be self-defeating. The host's alternative is structural: get money out of politics, be fiscally disciplined, rebuild real manufacturing to take on China, stop funneling everyone into debt-financed college, let students discharge that debt in bankruptcy to force lending discipline, and stop suppressing wages with low-wage immigration so the true price of labor is revealed. Tom, Drew, and Ryan dig into a Census Bureau data effort that cross-referenced 2020 voter records against federal citizenship files—and end up in a genuine, three-way disagreement about what it means. Tom plants a strong flag: he believes there is significant voter fraud that will be revealed as more data is processed, arguing from "first principles" that where you have access plus incentive and no safeguard, abuse will follow, and that election integrity is worth shoring up even before there's overwhelming evidence. Drew and Ryan push back as the fact-checkers in the room: Drew stresses that the reported ~24,000 figure comes from a partial, unprocessed run and, crucially, that "non-citizen" includes lawful permanent residents (green-card holders) who aren't the same as people who crossed illegally—so the headline shouldn't be read as proof of illegal-alien ballot harvesting. Ryan fact-checks the specifics in real time: how Social Security numbers actually work for non-citizens (work authorizations, ITINs, fraudulent documents, expired visas), what California's voter-verification process actually requires (signature matching, with a first-time-voter ID exception under federal HAVA law), and the point that documented voter fraud in the US has consistently been shown to be well under 1%. The group works through California's and Minnesota's differing rules, whether signature-matching and vouching systems are genuinely exploitable, and lands on a striking meta-point: three people looking at the exact same facts arrive at very different conclusions, which is itself a lesson in how much of what we call "fact" is filtered through perception. A substantive, disagreement-driven look at election-integrity claims—with the receipts checked on air.ggSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode of Run the Numbers, CJ sits down with Wisam Hirzalla, Head of Product at Stripe Billing, to trace the full journey of a dollar—from product packaging and pricing through quoting, contracts, billing, tax, collections, and revenue recognition.—SPONSORS:Anrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtnRightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cjPulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetricsRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjMaximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsEY has been part of Silicon Valley since it was just a valley, helping the most successful names in tech go from startup to exit to megacap. With teams across strategy, tax, audit, and transactions, EY helps you get your financials right early, long before your investors start asking for it. You build the next big thing, and EY will help you build it right. Learn more at https://www.ey.com/techstartups—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/wisam-hirzalla-9b20a91/Company: https://stripe.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:0:00 What Drives Billing Downstream1:41 Welcome to Run the Numbers2:37 Wisam's Path to "Queen of Billing"4:55 What Head of Billing at Stripe Entails5:45 Defining Quote-to-Cash7:50 Layer 1: Pricing and Packaging Mistakes14:46 Pricing Models Rising Because of AI18:11 Layer 2: Inside a Quote19:27 Why Enterprise Deals Get So Messy24:38 Layer 3: Contracting27:21 Layer 4: Billing30:15 Why Usage-Based Billing Is So Complex34:51 Tokens as a Pricing Unit36:57 Billing's Move Out of the ERP39:53 Layer 5: Provisioning and Entitlements43:36 Layer 6: Tax44:27 Layer 7: Getting Paid48:18 Layer 8: RevRec50:52 When Billing Stopped Being Back Office51:47 Asking Better Questions Segment52:28 Will AI Replace Finance Jobs

https://youtu.be/jPTlkjF8M-c Tanner Taddeo, CEO and Co-Founder of Stable Sea, is driven by a mission to bring Wall Street-grade financial services to Main Street while embodying the principle Stay Put in Your Convictions. By combining blockchain technology, stablecoins, tokenized capital markets, and AI advisory services, Tanner helps businesses access investment opportunities, put idle cash to work, and move money globally with greater speed, transparency, and capital efficiency. In this conversation, Tanner introduces The Lionel Messi Startup Framework—Develop a High-Level Thesis, Talk With and Learn From the Market, Run 30-Day A/B Tests, Iterate Your Offering, and Stay Resolute With Your Convictions. He explains why founders should observe patiently, validate their ideas with customers, and act decisively when market opportunities emerge. Tanner also discusses balancing long-term conviction with continuous experimentation, unlocking 24/7 liquidity through tokenized capital markets, reducing friction in cross-border payments, and finding urgent “morphine” problems that customers cannot afford to leave unsolved. — Stay Put in Your Convictions with Tanner Taddeo  Hello everyone. Steve Preda here, and my guest today is Tanner Taddeo, the CEO and Co-Founder at Stable Sea, an autonomous treasury management platform that helps finance teams and global businesses access capital market products and move money around the globe to 40 currencies with the cheapest FX rates. Tanner, welcome to the show.  Steve, thanks for having me. Excited for the conversation today.  It’s very interesting that this is how you position your business because most businesses in your industry, as I see them, position themselves with low transaction fees, but really their money is made on the FX. So if you do preferential FX rates or cheap FX rates, that can be a very transparent way of getting business. So I don’t know if that connects to your personal why, but I’d love to learn about your personal why and how you manifest it in your business.  Yeah, definitely. At Stable Sea, we’re very mission-driven in terms of everything that we do. The team itself comes from Block, which was formerly known as Square. Yeah. And everyone on the team has been focused on building products for the real economy, for consumer use cases, for business use cases, et cetera, over the course of everyone’s career.  And so when we started at Stable Sea, our primary thesis was, with blockchain, with stablecoins, with some of the tokenized capital markets products like money market funds, bonds, equities, et cetera, that are coming on-chain, how can you really take Wall Street-grade financial services and provision them out to Main Street for businesses that need them the most? And so the why for Stable Sea, for myself, for the team, is really around helping businesses drive greater capital efficiency in their operations. And we service businesses in the real economy that typically make widgets or some sort of physical hardware devices, and they need to send them around the world.  We help them because we give them access to different types of capital markets products, so money markets and private credit and fixed-income products, et cetera. And then we help them move their money around the globe a little bit more efficiently than they could with either their state bank or their credit union or some third-party cross-border payments provider. Because our firm thesis has always been, if you and I ran Coca-Cola or a large organization, we would have the best-in-class transaction banks helping us put our idle capital to work at every point in time during the day.  If you and I ran a steel manufacturing company in Missouri, you typically have a checking account and QuickBooks, and that’s about it. And so for us, it was always about helping businesses grow, save more money, and then operate more efficiently with some of the new technologies that are out there today.Share on X  So that means, presumably, that what you focus on is more about the investment side of the business rather than crypto and blockchain, and helping people access financial products through the blockchain. Help me understand a little bit what you do and how it is different from what people can get from banks?  Yeah. So everything that we do, all the technology that we build and provision, is on-chain. So all of the capital markets products are tokenized. So tokenized bonds, tokenized equities, tokenized fixed income, tokenized money markets. All of the payment services and settlement services that we offer are through the use of stablecoins, and we can send that around the globe, settle it instantly, and then have low FX rates off the back of that. And then we have some of our AI advisory services.  But from a broad paintbrush perspective, at Stable Sea, you’ve got three products that hang off of our platform. You’ve got capital markets, you’ve got global settlement, and you’ve got advisory services. And then with all of that, we share a common architecture, and that architecture is built across many different blockchains. And then we utilize stablecoins and we utilize RWA tokens, or real-world asset tokens, to provision those use cases.  So everything that we do is stablecoin-native, but we don’t lead with that from a messaging perspective. And the reason we don’t lead with that from a messaging perspective is that if you and I ran a bakery here in Brooklyn, New York, and we had a point-of-sale terminal that just got offered RTP access from the Fed for instant settlement, the bakery owner doesn’t really care about the technology underneath it.  They just care, “Do I trust it? Is it going to get me my money quicker, and is it going to be cheaper than my current alternative?” How it happens, not very many people care unless you’re in the industry and you’re a builder, product manager, et cetera, and you want to nerd out on the actual mechanical nature of how the product works. But for us, it’s always been leading with the narrative of, what is the value proposition and how can we drive greater value to the businesses? So that’s how we lead. But to your point on what the difference is, with any new technological paradigm that occurs, rarely is it so disruptive in nature that folks can’t recognize it.  Everything that happens in terms of the innovation paradigm is typically you stand on the shoulders of giants and you make things incrementally better. And so for us, what we do with capital markets is, the first value proposition is that many businesses in the United States just don’t have access to a diverse array of capital markets products. So the first thing that we have done is just provision access, which is an innovation in and of itself because in the traditional markets, if you want to access a money market fund or a fixed-income product, you typically have high hurdle rates, meaning that as a business, you need to invest at least $10 million at the asset manager in question.  You need to hold that there so then you can get access to all these products. With us, you don’t. There’s only a $1 minimum to clear, so I think most folks can handle a $1 minimum. And then secondly, as things go on-chain, the value proposition there is that you have 24/7, 365 liquidity and tradability. And so what that means is that, just from a money market fund perspective, the interest accrues daily and it pays out daily.  So you get this interest that is dripped into your account daily as opposed to waiting for a month. You also have the ability—so let’s say that you and I run this bakery in Brooklyn. Let’s say that we close our business on Friday, and we’ve got $100,000 sitting in our checking account, and we’re closed on Saturday, Sunday because it’s the July 4th holiday. So we know $100,000 is just going to be sitting in our checking account Saturday, Sunday, not being put to work. With Stable Sea, you can put that to work in a tokenized money market fund because it operates 24/7, 365.  So what we see is businesses now that close their books on Friday can just do an auto-sweep into a money market fund, generate yield Saturday, Sunday, get back to U.S. dollars for their open of business. And again, it’s one of those things where it might not sound like the most revolutionary concept in the world, but if you can help businesses, especially in the mid-market, lower mid-market, operate a little bit more efficiently, I mean, saving an additional $20,000, $30,000, $40,000 a year is a big value-add to them in the real economy, right? If you’re a large Fortune 100 company, you probably don’t care, or it’s not as valuable. But for us, the companies that run on us, these small increments, standing on the shoulders of giants, a small derivation in innovation is actually really valuable for the end user.Share on X  Well, I think it is because, looking at the inverse of it, I used to be in banking, and I know that one of the biggest moneymakers for banks is float. Yeah. So it’s basically the money that doesn’t earn interest, which they have access to just because they cash the check a day later or make the wire two days instead of one day. And essentially, what you’re doing is you’re taking this money from the bank and you’re giving it to the company that actually should have it in the first place, right? Yep.  Then the question is, how are the banks going to survive if you take away their bread?  Yeah. That is the debate that’s happening right now. I think if you’re one of your G-SIBs, your major banks, you’re going to be okay. So the top 25 banks in the U.S. are going to be just fine, and they make money in tons of different ways, and you’re not going to disrupt that trust ultimately. In the long tail is where I worry because a lot of credit unions and a lot of state banks, they just don’t offer—they’re smaller banks, right?  So they’re not managing—they don’t have a ton of money by virtue of assets under management. So with the deposits that they receive, they need to turn around and recycle that because it’s fractional depository lending, meaning that if I have a checking account, I put 10 grand into it, the bank is then turning around with that 10 grand, making money on it somehow. And you have to think, how does the bank actually make money on that? Well, they typically make it through debt facilities, so mortgages, auto loans, student loans, cards, et cetera.  They’re putting it to work in high-margin financial products back into the economy. They’re not taking that and then buying some money market fund from an asset manager where they make 10 basis points and provisioning that out to the businesses, right? There, I think that we’re seeing a lot of companies move off. They’re taking their money from their checking account, moving it to Stable Sea because we can put it in these capital markets products.  I think that overall, that’s a net positive for the business because the business now has a higher degree of operating capital on hand that they can make money with. But by the same token, if the state banks and the credit unions don’t wake up and respond to this, their depository base will be, if not fully eroded, tarnished and diminished. And what that means for local community health, I’m not sure because banks do play a very important role, especially credit unions and local banks.  You know your local community the best, and so you lend back into that community with the deposits that you receive from that community. So there’s a cyclicality to it which has some poetry in it. And so it’s not apparently clear to me that some of this stuff is going to be a net positive. But at the same time, living in one of the most capitalistic countries and markets in the world, there’s a clear demand for this, and if the banks aren’t going to wake up and serve it, we’ll be there to help businesses do what’s best for them.  Yeah. It’s the invisible hand, right? You increase the efficiency, which will force the banks to also increase their efficiency. And yeah, the smaller banks might have to be more innovative. But they are more nimble, so maybe there are other ways that they can serve the community.  So I’d like to switch gears here and talk a little bit about frameworks. So this is a podcast of frameworks, and 350 episodes in, I’m always looking for some kind of a framework, shortcut, a mental model that you have come across or developed yourself that helps you make more sense of the world around you, get something done. It can be explained in three to five steps, something like that, which the listeners might get some ideas out of and be able to improve their businesses. So what comes to mind for you?  Yeah, two things. I’ll start with a high-level analogy and then go a little deeper. It’s the World Cup right now, so I don’t know if you or any of your listeners are following the World Cup. But if you watch Messi play, his playing style is a great analogy for startups. And whether that be a startup externally where you raise venture capital, or even just intrapreneurship if you’re inside of a big company and you’re on an innovation team, et cetera.  From the outside, it looks like startups are always building things and they’re always moving fast, et cetera. But in reality, if you watch Messi play, Messi really doesn’t move that much on the pitch. He just sits around, he observes, he watches, and then when a hole opens up and some opportunity opens up, he breaks for it, and then he goes and executes. But he spends the vast majority of time just sitting there, tinkering, observing, watching. And then if you’re watching him, you’re like, “He’s not working that hard. He’s just sitting around.”  And then he goes and executes. But he’s always observing, he’s always watching, and there’s a real learning in that. I feel like Silicon Valley, as it relates to startups, there’s this pressure that you always have to be building, you always have to be shipping, you always have to be constantly grinding. I think that wisdom is actually counterintuitive because you want to have a thesis in the market, and then you want to be able to test that thesis quickly. So in some respects, you do want to be shipping all the time.  But you don’t want to be working for the sake of work. You want to have a thesis in the market. You want to be building towards that thesis that will happen in the next six months, 12 months, two years. And then you always want to be learning and talking to the market because when that hole does open up, you’ll have the right product at the right time to go and execute on. So I think that's something that we have learned: being patient and staying resolute in your conviction that what you're building is right.Share on X And it can’t just be a gut feeling. It has to be validated by the market.  So we do a bunch of A/B tests every 30 days where we have an idea about a feature or a product or a direction we want to take it. And the thing is, if you can’t get five CEOs on the phone in 30 days to validate if a product is going to be interesting or not, then that’s a signal in and of itself, right? So for anything that we do, we always have a thesis on the market, and then we spend 30 days testing it. And at the end of those 30 days, we get some feedback.  The reason why we do these A/B tests, just to drill down into one level further, is that the idea of a startup or a product that you have in your head, it’s a living entity. It’s always evolving on the basis of who you talk to, what your team is thinking, what you’re reading in the market, et cetera.  And then you’re trying to take that living concept and plug it into a market. But the market itself is also living, right?  You’ve got regulations, you’ve got different macroeconomic cycles, you’ve got companies that have budget, don’t have budget, people getting laid off in different organizations. The market itself is living and evolving. So you have this idea that is living and evolving, and you have a market that is living and evolving, and you need those two things to stick together. And so for us, we’re always wedded to this concept that product at time A is not going to be product at time Z. You need to constantly be doing A/B tests to figure out what that right fit is.  And then when you have that fit, you need to double down on it and grow it into a line of business. But you also need to recognize that there are very few businesses in this world that have been around for more than 200 years, if at all. So whatever your original product idea is, or whatever the feature that gave you product-market fit is today, you have to consciously be aware that, “Hey, that’s not going to be the thing that gets us to IPO in five years’ time.” So you can’t be lulled into this false sense of security. You always have to be waiting, observing, testing, experimenting, growing, and then if you see opportunity, you strike.  Yeah, this is fascinating. Especially now, things are moving very fast with AI creating capabilities all the time for people to test products or to create capabilities that then get disrupted in a couple of months. So it’s interesting that you say that you have to stay resolute in your conviction. So there is a tension there. You build a thesis and you stay resolute, but then you’re testing and the market might tell you not to be resolute.  And then you also told me that companies don’t live forever. So how do you resolve this tension of being stable with your thesis and not letting your conviction be upended, but also being nimble in the changing market dynamics and everything to respond to? So how do you manage the tension?  Yeah, it’s a good question. There has to be a high-level thesis, right? So for us at Stable Sea, it is as simple as: In 10 years from now, will more finance teams and businesses be on-chain or off-chain than today? And so our high-level conviction is, in 10 years’ time, more businesses will be running their treasury stack on-chain. So that’s our conviction. We know, come hell or high water, that is going to be where the puck is going to be in the future, and we’re going to skate to that future.  So if you start with this high-level conviction that more companies are coming on-chain, that is what we’re building for. Now, how they come on-chain is a matter of debate, which is where the A/B test comes in, right? We originally thought it was going to be for payments. So we built all the stablecoin infrastructure to do global payments in 40 different markets.  Turned out to be not the case, actually. And then we started tinkering as we saw the data coming in and were like, “Okay, some companies are using stablecoins for payments, but there’s a bunch of inefficiencies. That world’s still going to take two or three years to wake up. Where is the wedge in the market today?” And so when we started experimenting with capital markets products, we found that there was this massive opportunity that businesses just didn’t have access to a diverse array of yield-bearing strategies, and they wanted that.  And so that was where we were like, okay, let’s get businesses into the on-chain economy through capital markets. And then what we’re finding is, as folks come onto the platform, everyone uses us today for capital markets, and then 20, 30% of our companies say, “Actually, I do have a cross-border payment need, and I already hold money with you. Can you facilitate that payment or that settlement to Mexico, Colombia, Brazil, South Africa, et cetera?”  So for us, when I say you need to stay resolute in your conviction, our why is always: We want to take Wall Street-grade financial services and provision them out to Main Street.Share on X The conviction behind that is that you can do that through on-chain technology. And then in 10 years from now, more businesses will be on-chain than off-chain. How we get to that future in 10 years, who knows, right? And that’s where the fun of the startup is.  You’re always testing. And so for us, we’ve waxed and waned on different product strategies, primarily because the market has changed. And as people start to educate themselves on what the value props are, you see where folks find value, and then you build to that value. And in theory, in three, five, seven years, we should be living in a world where more companies are operating on-chain, and then they might use that full product suite.  But out of the gate, it’s kind of like, where is that value, that wedge? You charge as hard as you can into that wedge, and then you continue to expand your product set over time. All with that high-level conviction of, in 10 years from now, we believe that more businesses will be on-chain than off-chain.  So basically, you want to find the point where you can penetrate that market opportunity, and then it’s a land-and-expand kind of thing. And then you expand from there as the market opportunities evolve over time. But you already have a customer, you’re already building trust with them, and now they’re going to be more disposed to buying from you.  Yeah, that’s right. And I think it’s interesting from a mental place being a startup because you’re forced to think so short-term because you just need to generate revenue, get to the next capital round, et cetera. So you’re always building for the moment. But what we try to do at Stable Sea is we try to think as if we were already a Vanguard and a large company, to the extent that we have the luxury of planning for 10 years.  If you think about it in that regard, it takes a lot of the day-to-day anxiety away. It’s a little bit like, if you listen to Warren Buffett, any time that there’s volatility in the market, he’s like, “Well, it doesn’t really bother me because I’m investing for 50 years.” So, is it up 20%, down 20%? Who cares? In 50 years, it’s going to be up 200%, so that’s all I’m worried about, right? And there’s a real luxury when you come and think about it that way. So that’s why I think if you’re founding anything, or if you’re starting something inside of a company as an intrapreneur, you need to have a strong conviction on where the market’s headed in five or 10 years, and then you need to test towards that future. But that also makes the day-to-day operations of the business a little bit more palatable.  So often, you can get caught up in this whipsaw of, “Big Company A launched this product. Regulation came down, wiped out this company. This competitor raised a Series C, and they have way more money in the bank than we do.” And so you can get caught up in all this minutiae, but it doesn’t really matter if you sit back and you say, “I know that I’m going to find a way to make this business exist for the next 10 years.” In 10 years’ time, what does the future look like? Do I feel strongly that that’s going to be the case? Cool. I’m going to build towards that future. And then whatever the headwinds are in the interim, they’re just short-term temporal problems that kind of come and go along.  Yeah. I mean, I totally agree with you. And interestingly, 20 years ago, or 25 years ago, I didn’t feel like I had enough time to think that long term. But now that I’m older, I actually am more patient to have the long view, which is very counterintuitive.  And Dan Sullivan, who is a coach and the founder of Strategic Coach, he is now, I think, north of 80, and he has this thesis that even at his age, he has a 25-year plan, and that allows him to actually create more value. So that’s fascinating. So switching gears here, what drives growth in your business right now?  Yeah. So we govern the business with an assets under management model. So we have USDC, we’ve got money market funds, we’ve got fixed-income products, we’ve got Bitcoin on platform. So we just look at overarching platform balance. And so that’s the primary, very simple heuristic for how we define success: Is that thing growing month over month, quarter over quarter? That’s how we define growth and measure our growth.  But again, the value prop in terms of what drives that, why do companies actually sign up to Stable Sea? Primarily because they just don’t have access. Almost every business that we have talked to so far, and honestly every business that I’ve interacted with, has idle cash sitting in a checking account someplace. Full stop. And that idle cash could sit there for the weekend, i.e., two days, or it could sit for a quarter. If you’re gearing up for quarterly bonuses in Q1, you will escrow a million, $2 million in Q4 so you can pay out in Q1. Not just the U.S. economy, but every economy, there’s just cash sitting around at a bank, and it’s being underutilized.  And so for us, when we go and finally chat to businesses in the mid-market, lower mid-market, even SMBs, we have a customer on platform that invests $2,500 every week. It almost looks like a checking account, or almost looks like retail behavior in some ways. But they do it because they say, “Hey, I don’t make a lot of money with my business, but if I can eke an additional two, three grand at the end of the year, that’s valuable to me.” And there’s a real poetry to that because they’ve never had access to it. They’ve always wanted it.  But banks, large and small, won’t go build for the long tail of the economy. And so finally, we show up and we say, “Hey, here’s your menu of investment options. Here’s the risk profiles. Here’s how you should think of it. Based on the seasonality of your business, we can get you into the right products.” There’s real utility there, and that’s what kind of drives the value proposition and the growth of the business and the business’s assets under management overall.  So you’re looking for opportunities where you can be additive to customers, where there’s a situation where maybe there’s a gap in the market or there’s friction that they are experiencing with investing their money, and you can be the wedge in that situation and offer them a 3X better solution.  Yeah. Correct. Correct. And again, our tagline internally is, “Keep your bank, upgrade your capital.” Because we really don’t want to compete with the checking account. Where you run payroll, where your invoices land if someone pays you, your day-to-day spend, keep your banking relationships because it’s very difficult to usurp that. And also, we don’t want to get into that. That puts us squarely in this neobank realm where you’ve got great companies like Mercury and Rho and Ramp and Brex and a thousand other companies there.  We don’t really want to go compete with that. We’re more of, if you had the privilege of working with some of the largest transaction banks in the world, that’s what we’re trying to be and essentially provision those services out to the real economy, which is typically access to capital markets, access to global foreign exchange for payments and settlement, and then advisory services, tax reporting, et cetera.  Almost like a democratized private banking service.  Yeah. Yeah. All of us at Stable Sea, we’re trying really hard to steer away from the banking narrative, but yes, in the future, if you take that 10-year perspective, yeah, we will most likely be a private banking solution, a democratized version of that.  Yeah. Fascinating. So what’s one thing that you’re actively trying to figure out right now in your business?  Yeah, it’s a great question. I mean, the one thing that we’re actively trying to figure out is two things, really. One is, so we build directly into ERP systems like QuickBooks or NetSuite or Oracle or SAP, and we have advisory services. So we take a lot of that data, we build our own model weights on top of it, and then we offer that out to our customers so that they can essentially query their own transaction data and use it for different services.  Now, we’ve got strong signal on the first value proposition for that, but I’m curious mostly for owner-operators in the real economy: What are their biggest back-office pain points? And that’s something that we’re trying to figure out because we hear a lot, “Yes, we don’t have access to savings products.” Okay, we can solve that today. “Yes, cross-border payments are frustrating, slow, and expensive.” Yes, we solve that today.  So we’re looking for that third pillar. One of our VCs always talks to us about morphine versus vitamins, where it’s kind of a crude analogy, but if you go to the hospital and you’re in dire pain, you don’t want to be sold vitamins. You want some morphine, and that’s what you’re going there for, right? And when you’re in a startup and you create products, you’re really looking for that morphine of, people just cannot live without this product. And then you can sell all the value-added services around it, which are essentially the vitamins.  And so for us, we’ve found two morphine-like products where there’s a real pain point for accessing capital markets. Primarily, there is no ability to access that today. And then second, cross-border payments: slow, difficult, expensive, opaque, all the things. Solved that. So the third one that we’re trying to figure out now is: How do we A/B test quickly enough to figure out—we have a treasure trove of data building into ERP systems—what is the highest signal-to-noise product that we can build using a diverse data set to help owners operate their back office a little more efficiently?  So you say highest signal-to-noise. Is it the ratio of signal to noise? So what is the product value which you can detect as being a need in the market? Is this what you mean by that? Yeah, yeah. It’s like, what is that one pain point that is so resolute that people are like, “I would do anything to have this thing solved”? There’s all these value-adds like cash flow reporting and automating some of your tax stuff at the end of the year, which are all nice-to-haves. We’re curious. We’re trying to figure out what it is that folks will say, “I’ve got all this data in my ERP system. I would love to know one, two, three things and have A, B, C automated so my back office can run a little bit more efficiently and my accountant doesn’t have to ask me every quarter-end, ‘Where is X, Y, and Z statement?'”  Yeah. I mean, I’ve got some ideas, but I’m sure that you’ve already thought about most of it, so I’m not going to share them. So if someone is listening to this who is a small business or medium-sized business, and they’ve got some cash just sitting around, or they’d like to invest, but they don’t have big enough balances or the transaction costs are prohibitive for their size of investment, whatever the reason, but they are curious about exploring how to have access to better FX rates, more investment products, where can they learn more, and how can they connect with you?  Of course. Well, connect with me on LinkedIn, Tanner Taddeo, pretty easy to find. And then the platform is stablesea.com. So, free to sign up, no cost whatsoever. Also, no cost to use the platform at all. So feel free to sign up right online, and then, yeah, typically it takes us two days to run through the KYB document requests, and then you’re up and running. So, pretty simple. Stablesea.com, free to sign up and start putting your capital to work. Awesome. We try and make it as seamless as possible.  So I’m just wondering, the name of the company, is it something to do with stablecoin? Is it a sea of opportunities for stablecoin?  It was stablecoin for sure. So we started with the word “stable” and then “sea” because we wanted to provide a sea of liquidity. Both for FX, because we do B2B settlements, which are typically large transactions, low volume. You’re not doing twenty $10 million transactions a day. You’re typically doing one $10 million transaction a week or every other week. But you need a deep pool of liquidity to service that.  And then also, from a capital markets perspective, we wanted to be able to provide a sea of liquidity there for different investment options that companies could access based on the seasonality of their cash flow or the risk tolerance that they have as a business. So stable meets sea, so Stable Sea.  Okay. Well, if you want to keep your bank but upgrade your capital, then reach out to Tanner Taddeo, the CEO and Co-Founder of Stable Sea. He’ll get you more investment opportunities that maybe you have not had access to. And if you enjoyed this episode, make sure you subscribe and follow us on Apple Podcasts. Do not miss any episode with exciting entrepreneurs like Tanner. So thanks, Tanner, for coming, and thank you for listening.  Thank you, Steve. Important Links: Tanner's LinkedIn Tanner's website

Peter Schiff on plunging retail sales, sticky inflation, the Fed's stealth QE, and why the world is now leaving the dollar standard.This episode is sponsored by NetSuite. For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, Go to https://netsuite.com/goldThis episode is also sponsored by Function. Join at https://functionhealth.com/peter and use code PETER25 for a $25 credit.Retail sales just plunged, producer prices are still rising, and the Fed is quietly expanding its balance sheet again.The July data tells the story the markets keep ignoring. Retail sales fell 0.6 percent, the biggest drop in over a year, and since those numbers are not adjusted for inflation, real spending fell even further. Consumer sentiment sank to 51 as households braced for 4.3 percent inflation, more than double the Fed's 2 percent target. Producer prices rose 4.7 percent year over year, and instead of rallying on the weak data, the bond market sold off to its lowest weekly close of the year, with the 30-year at 5.27 percent. Meanwhile the Fed expanded its balance sheet by more than 21 billion dollars in two weeks, with the national debt about 80 billion dollars away from 40 trillion.Peter marks 55 years since Nixon closed the gold window and calls it what it was: a 100 percent default on America's creditors. His father Irwin testified against removing gold backing in 1968, and the 1970s proved him right. Now the sequel is underway. The world is going off the dollar standard the way America went off gold, and the next leg down in the American standard of living has already started. Gold near 4,400 dollars and silver above 66 are the market's verdict.Chapters:00:00 Middle Class Squeeze01:01 PPI Breakdown04:08 Fed Balance Sheet Surge05:23 Stagflation Signals08:28 Bond Market Warning11:39 Greenspan and 1987 Echoes14:48 Stocks vs Bonds Diverge15:33 Gold Shines Bitcoin Slips18:16 Bitcoin Bear Case21:08 Iran Sanctions and Oil26:30 Nixon Gold Standard Legacy28:52 Inflation Math Reality29:30 Video Plug Fiat Failure30:19 Electric Catamaran Tour34:30 Cruising Plans Tax Credit37:02 Gold Standard Break Explained48:09 Dollar Standard EndingFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiff#Stagflation #InflationOur Sponsors:* Check out Blinds.com and use my code GOLD for a great deal: https://www.blinds.com* Check out Chilipad and use my code GOLD for $255 off: https://sleep.me* Check out Factor and use my code gold50off for a great deal: https://www.factor75.com* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://www.plaud.ai* Check out Quince and use my code quince.com/GOLD for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy

Front CFO & COO Meredith Finn joins CJ to explain why finance leaders are taking on more of the operator's job. They break down the CFO-COO dual mandate, how Front funds new bets inside a mature SaaS business, why AI requires more coordination than simply handing everyone new tools, and how finance teams should think about the growing cost of AI.—SPONSORS:Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsAnrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtnRightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cjPulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetricsRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjMaximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/meredithfinn1/Company: https://front.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:Adam Swiecicki - CFO of Ripplinghttps://youtu.be/JyGJVpmZNacAurélien Nolf - CFO of Navanhttps://youtu.be/siwzJSRXAvY—TIMESTAMPS:0:00 The CFO/COO Dual Mandate1:45 Welcome to Run the Numbers2:52 Front's In-House Podcast Studio3:41 Meredith's Investment Thesis on Front7:21 The "Portfolio Career" Analogy8:35 What She Had to Unlearn as an Operator13:13 Books on Strategy vs. Execution16:17 When a CFO Should Also Be COO18:27 What the COO Hat Actually Covers20:20 Where the Two Roles Conflict25:42 Budgeting for AI Token Costs29:16 Using Internal Usage as a Benchmark35:40 Funding a Series A Bet Inside a Series D Company38:04 Sizing Bets: Core, Adjacent, Moonshot40:04 The Secret to Re-Accelerating Growth41:46 Going Deeper, Not Wider43:18 What the Pricing Overhaul Taught Her47:30 Why Customer P&L Matters50:11 Lightning Round Begins51:32 Advice to Her Younger Self52:33 Front's Finance Tool Stack53:21 Craziest Expense Ever#RunTheNumbersPodcast #CFOLife #FinanceLeadership #AIinFinance #SaaSGrowth

What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/**********************************************************************If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.**********************************************************************FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.The team reacts to DSA-affiliated activist Tracy Rosenthal, who—per the reporting the host cites—has withheld an estimated $108,000 in rent and openly encourages tenants in their building to do the same, with their landlord reportedly an immigrant now losing the building. The host is careful to say he hasn't independently verified every detail, but uses it to make his central argument: that "just don't pay rent" activism, however it's framed as helping the poor, actually lands hardest on the people it claims to protect. He argues Rosenthal—whose father he says is a multiple-Grammy-winning musician and who grew up wealthy—has a safety net ("they can always go back to mom and dad") that the working families they're advising do not, so when a landlord can no longer maintain or run the building, tenants end up in unmaintained housing, and those who join rent strikes risk landing on tenant-screening "do not rent" lists that follow them, push them toward fewer economic opportunities, and make housing harder to secure. He frames the whole thing as reasoning from resentment—aimed at hurting a perceived "capital class"—rather than from what actually helps poor people, and warns that if you make it impossible to run housing as a business, the only remaining owner is the government, which can only subsidize until the "engine of prosperity" breaks. He argues this path repeatedly ends in stagnation, using Cuba as his example.The team reacts to Mayor Mamdani's new video targeting Amazon's delivery model—where drivers wear Amazon branding and follow Amazon-set routes and hours but are technically employed by subcontractors—and his support for the Delivery Protection Act, which would push responsibility for those workers back onto Amazon. Drew presses the steelman throughout: if the setup is illegal or strips workers of deserved protections (the way the Uber/Lyft contractor debate played out), shouldn't the government step in? The host agrees that if a company is breaking the law you enforce the law—but argues this specific move is a case of a candidate promising affordability while doing something that will make deliveries more expensive, calling the two goals "matter and antimatter." His core argument is about preserving choice: independent-contractor status is a real tradeoff that many workers actively want (flexibility, control), and banning it doesn't magically convert those into higher-paying jobs—companies instead do less, automate, or leave, and a subclass of lower-skilled workers loses the on-ramp entirely. He draws the Uber-beat-the-taxis parallel, argues minimum-wage hikes disproportionately wipe out teen and entry-level jobs, and points to Austin and Houston loosening building regulations to bring housing costs down as evidence that over-regulation is often the choke point. He frames the government's proper role with a sports metaphor—referees who set and enforce fair rules are essential, but when the refs outnumber the players and start tripping the best performer to even the score, the whole game gets worse. Threaded through is his contested thesis that this is driven by resentment and an "overproduction of elites," and a nuanced exchange with Drew about when market intervention is genuinely warranted versus when it becomes a barnacle.The team digs into three new Google research papers that, in the host's read, show large language models already outperforming human doctors—even in the messy, sometimes adversarial reality of real patient interactions. The host, careful to stay honest about both AI's risks and its capabilities, walks through the numbers: in a randomized clinical exam of 100 scenarios across 300 live video consultations with patient actors, graded by 20 board-certified physicians, the AI scored 83% to the doctors' 68%, with correct first-guess diagnoses at 91% vs 77%, clinical reasoning 90% vs 76%, guiding a physical exam over video 72 vs 39, and—strikingly—empathy rated higher for the AI (82 vs 71), echoing earlier findings in AI therapy studies. The AI also finished exams slightly faster. A second paper tracking patients across three visits with shifting symptoms found the AI's care rated appropriate 95% rising to 98% by the third visit, while human doctors actually got worse over follow-ups (72% to 81%)—which the host speculates is because doctors "back off too soon" once they think they've found the answer, whereas the AI keeps refining. A third paper used reinforcement learning across 57,000 simulated encounters—including thousands where patients actively try to deceive the doctor, hiding medications or insisting chest pain is just heartburn—with up to 60 conversational turns, producing a model that beats the already-superior AI 87.6% of the time head-to-head. The host argues the gap will likely keep growing, predicts that within a few years failing to at least consult AI could be treated as malpractice, and forecasts a near-term future of human-assisted-by-AI care rather than fully autonomous machines—because AI is probabilistic, not deterministic, so a human stays in the loop the way pilots remain in an autopilot cockpit. His bottom line: this is one of those cases where the technology may genuinely become what we hoped for, even if the economic transition to get there is turbulent.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome back to Impact Theory, I'm Tom Bilyeu. Today, we're cutting through the noise around artificial intelligence—addressing both the real and overblown fears dominating the headlines. Together with Derek Thompson, we're taking a hard look at where AI is actually headed: from viral but out-of-touch startup launches to the unprecedented investments pouring in from America's biggest tech giants. We'll explore whether the AI sector is in a dangerous bubble or just getting started, what the US-China AI arms race means for the future, and how these innovations are reshaping everything from our jobs to our culture. We'll also confront the tough ethical questions—like the destruction of rare books for AI training—and what all of this means for you, me, and everyone trying to navigate this seismic technological shift. If you want the real story on where AI stands and where it's going, you're in the right place.Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In today's Cloud Wars Minute, I look at why Oracle is rejecting a single-model AI strategy and embracing a flexible, multi-model future. Highlights 00:03 — Oracle has announced that it's extending its partnership with Google Cloud and will be making Google's Gemini models available across its enterprise AI portfolio. This includes Oracle Fusion Cloud Applications, NetSuite, Oracle AI Agent Studio, and Oracle Cloud Infrastructure, or OCI. 00:22 — In true Oracle style, the company will embed Gemini into business applications and AI agents, allowing customers the flexibility to use Google's models within their existing workflows. At the same time, customers will have the freedom to switch between the various models offered in Oracle's suite. Now, what this is doing is giving customers more choice when they build Fusion-native agents and agentic apps. 00:53 — Oracle and Google Cloud already have a strong relationship, but the broader story here is how Oracle is positioning itself as an AI control plane that delivers outstanding infrastructure without the need to roll out a host of foundation models itself. Now, the company is really embedding itself in this area, and I think it's working out incredibly well for it. 01:17 — The company has really pushed the idea of flexibility, interoperability, and choice. Now, Oracle, from very early on, has really avoided that single-model strategy, saying that's a strategy that's aging quickly, and instead, Oracle's building a platform that can adapt as the AI landscape continues to evolve. 01:40 — I think this really ties in with the ambitions of those enterprises that want to take advantage of rapid AI developments while still controlling their data, applications, and workflows. And that's where Oracle stands out in its ability to bring together infrastructure, applications, and multiple AI models while seamlessly enabling companies to maximize the benefits of the latest AI developments. Visit Cloud Wars for more.

MeidasTouch host Ben Meiselas reports on breaking news from the day. Pre-order the new book from MeidasTouch, WTF America?!: The Way Out of This Hell and Back to Democracy, today: https://bit.ly/wtfamericayoutube The Perfect Jean: F*%k your khakis and get The Perfect Jean 15% off with the code TRUTH15 at https://theperfectjean.nyc/truth15 #theperfectjeanpod Wildgrain: Get $30 off your first box and free Croissants for life when you visit https://Wildgrain.com/MEIDAS Netsuite: Built for every industry. Ready for every boardroom. https://NetSuite.AI/MEIDAS. Manukora: Head to https://Manukora.com/meidas to save up to 31% plus $25 worth of FREE gifts! Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af MissTrial: https://meidasnews.com/tag/miss-trial The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast Cult Conversations: The Influence Continuum with Dr. Steve Hassan: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show The Ken Harbaugh Show: https://meidasnews.com/tag/the-ken-harbaugh-show Majority 54: https://www.meidastouch.com/tag/majority-54 On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Uncovered: https://www.meidastouch.com/tag/maga-uncoveredsosoui Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, I break down the real drivers behind economic systems like socialism and capitalism, tracing how human nature and scarcity have shaped society from the ground up. The conversation focused on why we moved from tribes to feudal kingdoms and eventually to the competitive world of capitalism, and what sparked the rise of Marxism and socialism as reactions to these systems.One concept discussed was the deep psychological desire for security—our evolutionary need to accumulate scarce resources for survival. I explore how this instinct evolved into our modern systems of ownership, productivity, and commerce, arguing that these drives cannot be separated from the systems we build.We also dig into the historical turning points that made the world less violent, allowing individuals to trade and collaborate instead of fighting over resources. Several points were raised, including what happens when economies attempt to centralize decision-making, using real-world examples like East and West Berlin and failed socialist utopias. The discussion explored how innovations—like the limited liability corporation—opened the door for more people to participate in building wealth, and why top-down economic planning always seems to run into the same problems.A key theme that emerged was that while the dream of a fairer system persists, every attempt to replace what exists brings its own set of challenges—often rediscovering the reasons certain structures evolved in the first place. As we consider the future, including the potential of AI to reshape our economies, I challenge listeners to ask: will technology finally solve the problem of scarcity and central control, or will our fundamental need for autonomy always pull us back toward individual freedom and choice?Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In this episode of Run the Numbers, CJ Gustafson sits down with Xero CFO Claire Bramley to discuss how the CFO role is expanding beyond finance into strategy, operations, transformation, and technology. Claire also shares how she builds teams around her weaknesses, what small businesses actually want from AI, and why she views diversity as a business performance decision.—SPONSORS:Maximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsAnrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtnRightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cjPulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetricsRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cj—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/claire-bramley-133b7174/Company: https://www.xero.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:0:00 Preview and Intro3:00 Xero and CJ's History With It4:12 Xero's Size and Scale Today5:10 The Expanding CFO Role7:06 Hiring Experts You're Not8:47 Imposter Syndrome11:00 Getting Better at Asking Questions15:04 Asking the "Stupid Question"16:21 Finance as the Corporate Junk Drawer17:48 The Trial Period Idea18:24 Tripwires: Leading Indicators for CFOs25:35 AI Hype vs. Main Street Reality26:44 What Small Business Owners Actually Want28:45 What Big Corps Underestimate31:10 Trust as a Competitive Moat33:45 Why the Line Is Thinner for Small Biz35:12 AI Inside Claire's Finance Team37:23 AI for Investor Relations39:28 Diversity as Capital Allocation42:07 A Decision Diversity Changed44:45 Lightning Round Begins46:06 Advice to Her Younger Self48:49 Craziest Expense Ever#RunTheNumbersPodcast #CFOLife #FinanceLeadership #AIinFinance #WomenInFinance

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=socialWhat's up, guys? Today I've got a mind-blowing episode for you with one of the most innovative thinkers in the world of artificial intelligence—Jensen Huang, the legendary CEO of NVIDIA. This is the guy who's reshaping entire industries and basically powering the AI revolution itself. Now, I wanted to have Jensen on because he's not just building chips; he's pioneering the future of intelligence as a commodity. We get into the weeds on how AI is transforming the way we work, how data centers are becoming the new artificial brains, and what all of this means for you—whether you're an investor, an entrepreneur, or just someone trying to keep up with the pace of change.We go deep on the risks and rewards of AI financing, how to thrive in a world of rapid technological disruption, and why the next decade is going to redefine who wins and who gets left behind. If you care about making sense of our wild economic system, protecting your future, and using technology to level up, this is an episode you cannot afford to miss. I hope you guys get as much value from this conversation as I did. And if you do, don't forget to drop a review—that's how we get this message out to the people who need it most. I'm Tom Bilyeu, and welcome to Impact Theory.Sponsors: Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

What exactly is communism—and why has it failed so spectacularly everywhere it's been tried? Bill Whittle has spent years answering those questions, and in this episode, he makes the case in a way that's hard to misunderstand. Bill is a writer, filmmaker, and political commentator whose work includes Empire of Terror, a detailed examination of the history and ideology of communism. Here, he breaks down the fundamental differences between individualism and collectivism, explains how free markets actually work, and makes the case for capitalism and the constitutional republic that makes it possible. Using simple analogies, memorable examples, and plenty of common sense, Bill tackles some very complicated ideas without burying them in complicated language. Why does individual freedom matter? Why do markets work without a central planner telling everyone what to do? And what happens when a government decides that the collective is more important than the individual? If you've ever wondered why capitalism works, why communism doesn't, or how the two systems actually differ in practice, Bill Whittle has a few answers—and he makes them surprisingly easy to understand. Big thanks to our terrific sponsors PureTalk.com/ROWE—Switch your phone service today and enjoy your first three months of talk, text, and data for just $15 a month regardless of which plan you choose. NetSuite.AI/MIKE—The #1 Cloud ER. If your revenues are at least in the seven figures, try NetSuite Nextfor FREE. AuraFrames.com—Named the #1 digital picture frame by Wirecutter. Use code MIKE to get $35 off select frames plus FREE shipping. Digs.com/MIKE—Less rework. Less confusion. And a much smoother build experience for homeowners. Get 40% offyour first 3 months

Welcome back to Impact Theory with Tom Bilyeu. In today's episode, we dive deep into the risks and realities shaping the AI boom—and the hidden dangers lurking beneath the surface of the financial system powering it. Tom is joined by researcher Ed Zitron and financial analyst Stephen Yu to unravel how massive investments in AI, circular financing, and shadow banking are pushing unprecedented risk into the world's economy. We'll explore how companies like Microsoft, Google, and Amazon are propping up unprofitable AI ventures, why much of the industry's growth is riding on just a few players, and what this means for your 401(k) and the broader financial landscape.From complex accounting maneuvers to eye-popping numbers behind AI data center buildouts, today's conversation exposes the ways risk is being shifted from banks to average investors, drawing parallels to past financial crises. Is AI the new too-big-to-fail industry? Are we witnessing history repeating itself? Most importantly, how can you position yourself to weather a potential storm?Strap in as we break down the circular financing of AI, the reality behind the growth narrative, and the vital questions every investor needs to ask in this high-stakes game. Let's get started.Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This Week In Startups is made possible by: Every.io https://every.io NetSuite https://NetSuite.ai/TWIST YSecurity https://YSecurity.io/TWIST Today's show: *Meta chief Mark Zuckerberg published a 6,500 word essay about the future of AI, and Jason thinks it's his smartest PR move in years. The thinkpiece, "The Future is for Everyone: The Path to a Positive AI Future," arrives alongside a new open-weight Meta model — Muse Glimmer — and the promise of an open-weight version of Muse Spark 1.2 to come. Zuckerberg's clearly pitching an "abundance" narrative, promising the American public untold benefits from AI technology — everything from a PhD-level tutor for every student to scientific breakthroughs, personal assistants, and beyond — all for the low low cost of not banning new data centers. Do our hosts think everyday voters will take this deal? PLUS X retires its revenue sharing program, the CLARITY Act misses a key pre-recess vote, what can we do to stop widespread AI-powered community college cheating, and some of the podcasting positions for which LAUNCH is hiring. Relevant Links Meta: "The Future is for Everyone": https://about.fb.com/news/2026/08/the-future-is-for-everyone/ Meta: "Introducing Muse Glimmer": https://research.meta.ai/blog/introducing-muse-glimmer-open-agentic-model MS Now: "Kevin O'Leary wants to atone for his data center sins": https://www.ms.now/news/kevin-oleary-wants-to-atone-for-his-data-center-sins "The Social Reckoning" teaser: https://www.youtube.com/watch?v=gM4LkaXwGuY X: Original Content Rewards Program: https://help.x.com/en/using-x/original-content-rewards TechCrunch: Nikita Bier steps down as X's head of product: https://techcrunch.com/2026/08/05/nikita-bier-steps-down-as-xs-head-of-product/ Congress.gov: H.R. 3633 - Digital Asset Market Clarity Act: https://www.congress.gov/bill/119th-congress/house-bill/3633/text Politico: "Crypto faces a setback in the Senate": https://www.politico.com/news/2026/08/07/delays-imperil-senate-crypto-bill-01029817 NYT: "AI Agents are Taking Entire Online Courses for Cheating Students": https://www.nytimes.com/2026/08/10/us/ai-cheating-online-degrees.html Inside Higher Ed: "Brown Professor Suspects Majority of His Class Used AI to Cheat": https://www.insidehighered.com/news/faculty/learning-assessment/2026/07/08/brown-professor-suspects-most-his-class-used-ai-cheat Podnews: Spotify's Skip Ahead ad skip test: https://podnews.net/article/spotify-threat-ad-skipping Tommy Vietor X post on Spotify: https://x.com/TVietor08/status/2085073214968037428?s=20 JJ Smith SF "open drug market" video: https://x.com/war24182236/status/2086839186137710724 Timestamps: 0:00 Why Zuck thinks the future is open source 2:26 Meta's roadmap: personal assistants and beyond 9:21 Every.io - For all of your incorporation, banking, payroll, benefits, accounting, taxes or other back-office administration needs, visit https://every.io 20:22 Netsuite - For the first time ever, you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/TWIST 27:43 How to win the data center argument 29:32 YSecurity - The on-demand security team for startups. Need enterprise-grade security without hiring a $400k CISO? YSecurity gives you 40+ expert engineers, matched to exactly what you need, by the hour, with your first six hours completely free. Go to https://YSecurity.io/TWIST 39:24 X intros Original Content Rewards 51:58 The CLARITY Act faces new setbacks 1:00:46 AI agents are taking students' tests for them 1:09:37 LAUNCH is hiring!   Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com Check out the TWIST500: https://www.twist500.com Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp   Follow Lon: X: https://x.com/lons   Follow Jason: X: https://twitter.com/Jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis   Check 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 McFarland   Check out Jason's suite of newsletters: https://substack.com/@calacanis   Follow TWiST: Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin Instagram: https://www.instagram.com/thisweekinstartups TikTok: https://www.tiktok.com/@thisweekinstartups Substack: https://twistartups.substack.com

Men playing in women's sports takes center stage in the national debate – as the Senate postpones a key vote on college sports over the issue. President Trump says the US is “low-keying” its negotiations with Iran – as Iran-backed terrorists strike a key port in the Red Sea. And alarming allegations lead RFK Jr to crack down on a major organ procurement organization, while the DEA bans the controversial drug 7-OH. Reporting from Lynden Blake and Amanda Prestigiacomo. Plus, we speak with Steve Yates, a national security expert at The Heritage Foundation. Get the facts first with Morning Wire.- - -Ep. 3030- - -Wake up with new Morning Wire merch: https://bit.ly/4lIubt3- - -Today's Sponsors:Alliance Defending Freedom - https://JoinADF.com/WIRE and equip yourself to stand for truth with confidence and clarity.Factor - Head to https://FactorMeals.com/morningwire50off and use code morningwire50off to get 50% off and free daily greens per boxNetSuite - For the first time ever you can try NetSuite Next for free. Built for every industry. Ready for every boardroom. https://NetSuite.AI/MORNINGWIRE - - -Privacy Policy: https://www.dailywire.com/privacymorning wire,morning wire podcast,the morning wire podcast,Georgia Howe,John Bickley,daily wire podcast,podcast,news podcast Learn more about your ad choices. Visit podcastchoices.com/adchoices

Welcome to another packed episode where I break down some of the most consequential and controversial issues shaping our world right now. This conversation focused on the phase transitions happening everywhere—from the spectacle of former NBA draft picks declaring for the WNBA, forcing a reckoning on transgender participation in sports, to the deeper currents of American political identity, and the persistent tug-of-war between fairness, boundaries, and evolutionary imperatives on both the right and the left.One concept discussed was our current political and economic moment: the Trump administration's struggles in the Iran conflict, and what that says about America's readiness for global competition as China cements its dominance in manufacturing and quietly builds up its gold reserves. I dove into the unintended consequences of financializing everything, the importance of self-sufficiency, and why late-stage empires always seem to repeat the same mistakes.A key theme that emerged was the need for honest, nuanced dialogue—whether we're talking about healthcare reform and the myth of easy fixes, the failures of the modern education system, or the breakneck speed of AI innovation that's accelerating science at a rate impossible for previous generations to imagine.This discussion explored how easy it is to get distracted by the latest political spectacle while missing the underlying systems and boundaries that keep society stable—or allow it to spiral into chaos. I challenged listeners to look past partisan narratives, think critically about cultural and technological shifts, and focus on solutions that make sense in the real world—not just in soundbites or on social media.If you're ready to navigate the complexity, face uncomfortable truths, and find a way back to sanity and competency in America, this episode is for you.What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/**********************************************************************If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.**********************************************************************FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactSurfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Amanda Rush founded Rush Digital Marketing, where she builds LinkedIn lead generation systems for coaches and consultants. Her latest model, the Nexus Install, gives clients full ownership in 60 days. Top 3 Value Bombs 1. You do not need capital, connections, or a large audience to build a successful business; you need a marketing system that works. 2. A business model that creates dependency will eventually create friction; a model that creates ownership builds lasting value. 3. Deep self-awareness often reveals the next evolution of your business before any market trend does. Check out Amanda's website to learn more about her, Nexus Install, and her approach to LinkedIn lead generation - Rush Digital Marketing Sponsors HighLevel - The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies. Learn more at HighLevelFire.com. NetSuite - NetSuite Next is the next huge leap in how business gets done, with AI built into everything you do. If your revenues are at least in the seven figures, try NetSuite Next for free at NetSuite.ai/fire. Built for every industry. Ready for every boardroom.

On this episode of Run the Numbers, CJ and Ben trace corporate private jets from Sam Walton's scrappy two-seater to Alex Karp's $17 million jet bill. They break down when flying private actually makes business sense, how jets hit the balance sheet, the tax and accounting implications, what companies disclose to investors, and when executive travel crosses the line from productivity tool to corporate excess.—SPONSORS:Rillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjMaximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsAnrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtnRightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cjPulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetrics—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNCJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—RELATED EPISODES:Jersey Mike's IPO: The $4.2B Sandwich Machinehttps://youtu.be/ZL6AbqHI-0g—TIMESTAMPS:0:00 Fly Like a G60:29 $17M on jets: Alex Karp guess1:16 Sam Walton starts it all2:49 The yellow legal pads4:37 Walmart Aviation founded (1968)5:14 Piston to Bombardier jets6:51 Walmart's modern jet fleet8:13 Where it hides in SEC filings9:25 SEC Reg S-K Item 40213:37 Gulfport Energy scandal14:42 Tyco: Kozlowski & Schwartz16:57 When jets are actually useful17:55 P&L vs. balance sheet treatment18:40 PP&E and depreciation basics19:04 Off-balance-sheet leases19:28 The chartering loophole19:54 "Uber Jet" fractional ownership23:14 How activists hunt jet spend23:36 Flight registries & tail numbers24:13 Jack Sweeney vs. Elon Musk25:00 What top companies spend25:18 Walmart's fleet is #126:17 Charter vs. lease vs. own29:02 Should we care? 3 angles30:06 Angle 2: opportunity cost30:59 Angle 3: company size31:42 General Electric's shadow jet32:50 Back to Alex Karp34:02 Credits#RunTheNumbersPodcast #PrivateJets #CorporateFinance #ExecutivePerks #CFOLife

What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/**********************************************************************If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.**********************************************************************FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! The team digs into Bernie Sanders going on CNN to embrace what's being called a "red wave"—the surging energy of the DSA within the Democratic Party—and his refusal to disavow Hasan Piker even when pressed on Piker's most controversial statements. What follows is a genuinely two-sided, and at times heated, debate. On one side: the argument that this is a pivotal cultural moment, that "politics is downstream of culture," and that figures like Mamdani and Hasan Piker represent a one-two punch pushing DSA ideas into the mainstream—ideas the host warns point toward an ideology with a catastrophic historical track record, making him feel morally obligated to sound the alarm even when he admits it's bad for business. On the other side: a sharp policy-focused rebuttal arguing the show spends too much time dissecting 30-second streamer clips and not enough on actual bills, appropriations, and the money-in-politics mechanisms that drive real outcomes—"more C-SPAN, less Twitch stream recaps." The conversation traces historical parallels (the Tea Party, Occupy Wall Street, Bolsheviks vs. Mensheviks), debates whether the DSA is unintentionally clearing a path for a charismatic strongman, and wrestles with how the left should handle provocative voices. It also gets personal and philosophical: the "parchment guarantee" idea that a constitution only matters if the culture enforces it, a reflection on youth as an energy that rightly shakes up an ossified society, and a candid riff on competing cultural metaphors—jihad-as-waging-war versus the Christian "spark of the divine in the individual"—and the tension between drawing a hard line and being careful with war rhetoric in a volatile moment. A substantive, disagreement-driven look at where American politics may be heading.Tom digs into Mayor Mamdani colliding with a basic truth of policy: create an incentive structure, and people will follow it—sometimes by abusing it. Joining Tom is Drew, who pushes back and adds important nuance throughout. The flashpoint is Mamdani's city-owned grocery stores: with goods priced well below market, Tom argues there's an obvious incentive to buy cheap and resell at market value, which is why Mamdani may need some form of ID to wall off who can shop—running headlong into the same "require ID" logic the left resists elsewhere. Drew makes the key distinction that a grocery ID (a driver's license) is not the citizenship-level verification the SAVE Act demands (a passport), and Tom agrees that a sensible ID standard is reasonable. From there, Tom lays out his broader, and more contested, thesis about incentive structures, voter-ID politics, and how DSA-aligned cities increasingly attach the phrase "regardless of immigration status" to taxpayer-funded programs—from grocery initiatives to childcare to housing and legal-support hotlines. He argues this is happening beyond New York, in cities like Minneapolis and Seattle, and challenges the claim that undocumented immigrants are net contributors to social systems, drawing a parallel to immigration debates in Nordic countries. Tom's bottom line: you can't simultaneously say government spends too much, oppose borders and ID requirements, and promise to care for everyone who comes—mathematically it doesn't work, and if you genuinely want to help people, you have to care for a finite number well rather than incentivizing unlimited inflow. He also breaks down why Mamdani's budget gap is likely to keep growing.Tom untangles one of the most consequential and least understood stories in global finance: the United States buying yen for the first time since 1998. Joining Tom is the team as he explains why this isn't a sign of strength but an emergency effort to stop a total collapse of the Japanese economy—one so dangerous because the yen carry trade has locked the US and Japan tightly together for decades. Tom speed-runs the history: Japan's 1989 real estate bubble, thirty years of ultra-low rates, and how cheap Japanese money flooded the world as liquidity that America benefited from enormously. He walks through the trap Japan is now in—raising rates to fight post-Covid inflation triggers a carry-trade unwind, but every intervention to slow it signals weakness and sends money fleeing. He breaks down the concept of risk-adjusted return, why Japan has nothing like the AI trade to justify its risk, the Bessent Camp David notepad photo he believes was a deliberate signal (and the roughly $1 trillion it briefly wiped from US markets), and why the New York Fed selling euros for yen further strains an already-tense relationship with Europe. Tom's blunt diagnosis: propping up the yen is Advil for a brain tumor; the only real cure is a painful decade of killing off zombie companies and getting Japan innovating and growing again. He then connects it to the bigger board—Argentina and Milei as a success story the US wants to use to pull South America back toward capitalism and away from China's debt-trap Belt and Road, and his view that America is becoming a regional rather than global hegemon. Throughout, Tom stresses intellectual honesty about how Covid-era authoritarian decisions helped break the system, and reminds viewers to treat official reassurances as propaganda.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tesla takes a stand against giving FSD users control over their maximum speed, and many Tesla owners are not thrilled about the change. Plus: Tesla resolves its Cybertruck supplier emergency (for now), Ford gives the name and starting price for its upcoming affordable EV pickup built on its next-gen platform, and more! If you enjoy the podcast and would like to support my efforts, please check out my Patreon at https://www.patreon.com/teslapodcast and consider a monthly or (10% discounted!) annual pledge. Every little bit helps, and you can support for just $5 per month. And there are stacking bonuses in it for you at each pledge level, like early access to each episode at the $5 tier and the weekly Lightning Round bonus mini-episode (AND the early access!) at the $10 tier! And NO ADS at any Patreon tier! Also, don't forget to leave a message on the Ride the Lightning hotline anytime with a question, comment, or discussion topic for next week's show! The toll-free number to call is 1-888-989-8752. NEW: Level up your business with NetSuite by Oracle! Get your free business guide, Demystifying AI, at https://www.netsuite.com/lightning INTERESTED IN A FLEXIBLE EXTENDED WARRANTY FOR YOUR TESLA? Be a part of the future of transportation with XCare, the first extended warranty designed & built exclusively for EV owners, by EV owners. Use the code RTL250 to get $250 off your XCare Premium or Battery & Drive Unit Protection Plan using the one-time payment option! Offer expires July 31! Go to https://xcare.com to find the extended warranty policy that's right for you and your Tesla. P.S. Get 15% off your first order of awesome aftermarket Tesla accessories at AbstractOcean.com by using the code RTLpodcast at checkout. Grab the SnapPlate front license plate bracket for any Tesla at https://everyamp.com/RTL/ (don't forget the coupon code RTL too!). Enhance your car with cool carbon-fiber upgrades from RPMTesla.com. And make your garage door foolproof with the Infinity Shield – get yours at https://www.infinity-shield.com and use the promo code RTL at checkout for a $25 discount.

What's up, guys? Today I'm diving deep with one of the most legendary minds in finance—Warren Buffett's impact on modern investing and what his latest moves say about where the economy is headed. We're breaking down why the Oracle of Omaha is dumping stocks, stacking up record cash, and signaling alarm bells that every investor needs to hear. If you've ever wanted to understand how economic forces shape your portfolio, what metrics like the CAPE ratio and the Buffett Indicator actually mean, and how to avoid being blindsided when the next crash hits—this episode is absolutely vital.You're going to walk away with a practical understanding of the same strategies the world's sharpest investors use to navigate market bubbles, protect themselves from massive downturns, and thrive even when things look bleak. This is about shutting out the hype and seeing the real signals—so you can make the smartest moves for your future. If this episode hits you, drop us a review and help us keep bringing you the truth that moves you forward.I'm Tom Bilyeu, and welcome to Impact Theory.Special Thanks to the Infographics Show. Check out their page: https://youtu.be/BnSTr7_NwtU?si=8RBu2wgZ-D-7fdb3Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=socialWelcome to another jam-packed episode of the Tom Bilyeu Show Live, where Tom dives into the critical headlines and deep-cut topics shaping our world. In this episode, Tom unpacks Abdul El-Sayed's razor-thin Michigan Senate primary victory and what it signals about the rising influence of the Democratic Socialists of America. He dissects President Trump's new executive orders targeting birth tourism and explores the true impact of these policy shifts.Tom takes on economic narratives with a fact-based breakdown of Scott Bessent's claims about wage growth, separating the reality from political spin. The episode also features a thorough analysis of Tucker Carlson's controversial 10-point plan, discussions of the precarious alliance between the US, Israel, and the GCC in the volatile Middle East, and a fascinating look at how elite overproduction is transforming the American workforce and fueling political discontent.Plus, Tom and the crew dig into the wild advancements in AI—covering everything from telepathy startups to the dark side of AI agent collaboration—and share actionable insights for future-proofing your skills. Get ready for a lively, insightful ride through politics, economics, technology, and culture, all backed by Tom's signature no-nonsense approach.Sponsors:Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Monarch Money: Start your free trial and get 50% off your first year of total money clarity at https://monarchmoney.yt.link/QxOLEVx or code TB50 for 50% Off Monarch Core tier.ATT Business: Switch to AT&T Business at business.att.comKetone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory.Surfshark: Go to https://surfshark.com/TOMB or use code TOMB at checkout to get 4 extra months of Surfshark! See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

On this episode of Run the Numbers, CJ Gustafson sits down with Richard Haram, VP of Finance at RapidSOS, to unpack how finance supports a public safety AI platform that helps 911 operators and first responders act faster. They cover building AI fluency, combining FP&A with BI, monetizing vertical software, integrating acquisitions, and the leadership lessons Richard carried from entrepreneurship.—SPONSORS:Pulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetricsRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjMaximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsAnrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtnRightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cj—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/richardharem/Company: https://rapidsos.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:0:00 Preview and Intro3:10 What RapidSOS does4:59 CJ's own car accident5:33 What's broken about 9116:50 Who's the actual customer7:46 How RapidSOS monetizes10:13 Sponsors — Pulley | Rillet | Maximor13:27 Too much data, too much noise16:35 Data pollution and trust18:24 The data stack early on19:25 Should BI have come sooner?20:45 The framework: questions to decisions22:43 Building a data culture23:58 Sponsors — Brex | Anrok | RightRev26:51 Bottoms-up vs. top-down AI28:42 Inspiration, not training32:24 The three-phase AI progression33:31 Founding an AV company at 835:37 Giving people room to grow38:12 Depending on heroes39:55 Working under founder personalities41:23 Do startups undervalue what they sell42:48 A price hike, zero churn43:24 Signs you're underpricing44:57 Lightning round45:03 Screwed up: refreshed data before a demo47:15 Advice to younger self47:41 Finance software stack48:37 Craziest expense: personal gas49:29 Credits

Allie is joined by Catherine Herring, an abortion pill survivor. When Catherine announced her third pregnancy, her husband's strange and negative reaction quickly escalated into something far more sinister. He began obsessively pushing her to stay hydrated while secretly grinding abortion pills into her drinks, nearly ending both her life and their unborn daughter's. After a terrifying ER visit and multiple poisoning attempts, Catherine hired a private investigator whose shocking discovery — and hidden-camera evidence — changed everything. Hear Catherine's harrowing yet redemptive story of survival, justice, and her fight to protect other women. Check out Catherine's nonprofit: https://sayhmfoundation.org/ Share the Arrows 2026 is on October 10 in Dallas, Texas! Tickets are on sale now at: ⁠⁠⁠⁠⁠⁠https://sharethearrows.com⁠⁠⁠ Share the Arrows is sponsored by: A'del Natural Cosmetics: AdelNaturalCosmetics.com Range Leather: RangeLeather.com/ALLIE We Heart Nutrition: WeHeartNutrition.com Buy Allie's book "Toxic Empathy: How Progressives Exploit Christian Compassion": ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.toxicempathy.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – Time Codes 0:00 Introduction 0:54 How Catherine Was Drugged with an Abortion Pill 16:59 Building the Case Against Her Husband 34:56 The Legal Outcome 40:29 The Birth of Catherine's Daughter 52:43 Cathine's Advice for Domestic Violence Situations – Today's Sponsors: Seven Weeks Coffee | Experience the best coffee while supporting the pro-life movement with Seven Weeks Coffee; use code ALLIE at ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.sevenweekscoffee.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to get up to 25% off your first order, plus your free gift! We Heart Nutrition | Check out We Heart Nutrition at ⁠⁠⁠WeHeartNutrition.com⁠⁠⁠ and use the code ALLIE for 20% off. Hillsdale College | Go right now to ⁠⁠hillsdale.edu/relatable⁠⁠ to enroll. There's no cost, and it's easy to get started. NetSuite | If your revenues are at least seven figures and you want to try NetSuite Next for free, go to NetSuite.AI/ALLIE. Shopify | Start your free trial at Shopify.com/allie - Episodes You May Like: Ep 1346 | Moms.gov: Trump's New Website Has One Flaw https://podcasts.apple.com/us/podcast/ep-1346-moms-gov-trumps-new-website-has-one-flaw/id1359249098?i=1000767632880 Ep 785 | Abortion Pill Ban? & NPR's Accidentally Pro-Life Story https://podcasts.apple.com/us/podcast/ep-785-abortion-pill-ban-nprs-accidentally-pro-life-story/id1359249098?i=1000608247337 --- ► Buy Allie's book "You're Not Enough (& That's Okay): Escaping the Toxic Culture of Self-Love": https://alliebethstuckey.com/book ► Subscribe to the podcast: iTunes: https://apple.co/2UVssnP Spotify: https://spoti.fi/2FwkXxj ► Connect with Allie on Social Media: https://twitter.com/conservmillen https://www.instagram.com/alliebstuckey/ https://facebook.com/allieBlazeTV/ ► "Relatable" merchandise: Use promo code ALLIE10 for a discount: https://shop.blazemedia.com/collections/allie-stuckey

On this episode of Run the Numbers, CJ sits down with Plaid CFO Seun Sodipo. Seun explains how her team is using AI to improve speed, accuracy, and ambition; why finance leaders need both bottom-up experimentation and top-down direction; and how she approaches planning, network effects, and building a durable company.—SPONSORS:RightRev is a revenue recognition platform built for the AI economy, helping finance support usage-based pricing, credits, hybrid contracts, seats plus consumption, and whatever commercial model comes next. It gives product teams the freedom to keep innovating without outdated revenue systems slowing them down. Learn how RightRev can help at https://rightrev.com/cjPulley is an equity management platform that lets you issue options, model dilution, and complete 409As without your cap table turning into a spreadsheet disaster. Founders raising, hiring, and scaling use Pulley to keep equity clean and stay focused on building. Learn more or request a demo at https://pulley.com/mostlymetricsRillet is an AI-native ERP built for modern finance teams that want to replace NetSuite and close faster. With revenue recognition, close management, multi-entity support, and native Stripe and Salesforce integrations, Rillet helps scaling companies run their finance stack in one place. Hundreds of teams, including Windsurf and Mercor, use Rillet to make the zero-day close real. Book a demo at https://www.rillet.com/cjMaximor is an autonomous finance platform that runs order-to-cash, procure-to-pay, the close, cash management, and reporting on self-learning agents instead of a dozen disconnected tools. One PE-backed customer posts 98% of transactions directly to its ERP, with the remaining 2% routed to a human for review. You pay for outcomes, not seats. See it at https://www.maximor.ai/Brex is an intelligent finance platform with AI-powered workflows that enforce expense policies at the point of sale, match receipts automatically, and reduce month-end close from weeks to hours. Thousands of companies, including Anthropic, Coinbase, and DoorDash, already run on Brex. Stop asking A-level finance talent to do B-level admin work. Learn more at https://www.brex.com/metricsAnrok is the sales tax platform that watches your exposure everywhere, automates compliance, and flags risk before it turns into a surprise back-tax letter from a state you've never set foot in. Companies like Anthropic, Notion, and Vanta already trust Anrok to stay ahead of rules that move faster than any spreadsheet can. Talk to a sales tax expert for a personalized exposure estimate at https://www.anrok.com/rtn—LINKS: Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsNGuest: https://www.linkedin.com/in/seun-sodipo-1498b580/Company: https://plaid.com/CJ: https://www.linkedin.com/in/cj-gustafson-13140948/Mostly metrics: https://www.mostlymetrics.com—TIMESTAMPS:0:00 Preview and Intro2:12 What Plaid does3:53 How Plaid makes money7:04 Eight months in, not new anymore8:57 Sponsors — RightRev | Pulley | Rillet11:48 Career path: Stripe, Glossier, Plaid14:32 Evaluating durability from the outside15:36 Rising expectations and AI17:23 Top-down vs. bottoms-up AI adoption20:06 Sponsors — Maximor | Brex | Anrok23:20 Coolest AI use case: sorting physical mail25:21 How her questions have changed27:11 AI should make you think deeper27:51 Finance AI Day explained31:23 A four-month journey to usable tools32:22 How AI changed her leadership style33:19 Skills that matter more now36:22 The Objective, Strategy, Tactics framework39:56 What planning reveals about an org41:36 Sequential vs. parallel planning45:38 Measuring the value of a network47:33 What people underestimate about Plaid48:56 Lightning round48:56 Screwed up: the reversed page order49:39 Advice to younger self50:32 Finance software stack51:43 Craziest expense: the photo shoots52:20 Credits

What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/**********************************************************************If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.**********************************************************************FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuPaleovalley: 30 for $36 https://bit.ly/PaleovalleyITOpusClip: Explore Agent Opus at https://agent.opus.pro/exploreQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.ATT Business: Switch to AT&T Business at business.att.comEthos: Get a free quote at https://ethos.com/impactSurfshark: Go to https://surfshark.com/bilyeu or use code BILYEU at checkout to get 4 extra months of Surfshark! Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom.Mamdani sat down with Jon Stewart and made democratic socialism sound like libraries and fire departments. We break down why that framing collapses the second you look at what DSA policy actually says versus how it gets marketed. We get into the rent freeze experiment that already ran in New York, the difference between a social safety net and seizing the means of production, the perverse incentive problem, and why the people this movement celebrates should set off alarm bells. Plus the aggressive-agreement trap: where the left is right about helping workers, and where the branding hides something very different.Tom reacts to a viral Fox News interview with a national co-chair of the DSA—a clip so extreme he initially assumed it had to be a setup. Joining Tom is Drew as the two go point by point through the DSA platform laid out on air: abolishing the Senate, replacing the presidency and Supreme Court, abolishing ICE, opening borders with amnesty, defunding the Pentagon, abolishing prisons, and bringing most large corporations under government ownership. Tom argues this is communism unmasked, and explains why America's founders deliberately built a republic with checks and balances to protect citizens—even from a president they hate—drawing a stark contrast with what happens under unchecked power in places like China and Iran. The conversation then digs into the deeper engine Tom sees behind radical leftism: an ideology rooted in resentment and an "overproduction of elites"—young people loaded with debt and taught that virtue means finding how you're oppressed. Drew pushes the economic angle hard, arguing that a generation locked out of the capitalism ladder, priced out of housing, and drowning in household debt has little reason to defend a system that isn't working for them. Together they wrestle with inflation, minimum wage, NIMBYism, and whether you can defuse the ideological bomb without first fixing the economy. A candid, combative breakdown of one of the most consequential political fault lines in America. Tom takes on Mayor Mamdani's plan to launch five city-owned grocery stores in New York—a $70 million, taxpayer-funded endeavor promising a core basket of goods at 30% below retail. Joining Tom is Drew, who pushes back and presses on the specifics as the two work through why running a grocery store is one of the hardest businesses on earth, operating on razor-thin 1 to 3% margins. Tom walks through the economics step by step: even zeroing out rent, taxes, and profit, a 30% discount on core goods leaves an unavoidable gap—one the taxpayer has to close. He explains how artificially low prices distort the market, put upward pressure on surrounding stores, and threaten to drive local bodegas out of business (who are already suing). Drawing on his own experience selling into Walmart with Quest, Tom lays out the "kingmaker" dynamic and the Vlasic Pickle cautionary tale to show how a state-backed buyer would inevitably bully distributors and suppliers down the chain until someone—often the lowest-paid worker or farmer—absorbs the loss. He points to real-world failures in Baldwin, Florida; Erie, Kansas; and a questionable case in Atlanta, and connects it all to the DSA's July program calling for food, energy, medicine, and transportation to be run "not for profit." The core question Tom leaves you with: what are the odds a government bureaucrat runs a grocery store better than Walmart? His answer is blunt—zero.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Noah Hopton, CEO and Founder of Finvisor, helps startups and growing businesses simplify operations by building integrated back-office teams that combine accounting, finance, payroll, HR, insurance, and technology. By combining experienced financial professionals with modern technology, Noah enables businesses to streamline operations, stay compliant, and focus on sustainable growth.  In this conversation, Noah introduces The Adjacent Extension Framework—Earn the Trust, Build the Relationship, Listen for Other Problems, Connect Other Specialists, and Empower the Team with Tech. He explains why proactive service creates lasting client relationships, how solving adjacent business challenges leads to sustainable growth, and why integrated back-office teams outperform disconnected vendors. Noah also shares how AI is reshaping finance operations by automating repetitive work, empowering finance professionals to focus on strategic decision-making, and helping businesses leverage technology to enhance—not replace—human expertise. — How to Outsource Your Back Office with Noah Hopton  Good day, listeners. Steve Preda here with the Management Blueprint Podcast, and my guest today is Noah Hopton, the CEO and Founder of Finvisor, helping seed and Series A companies that have outgrown spreadsheets and part-time bookkeepers but aren’t ready for a full-time finance team yet. Their job is to give you the financial clarity to make good decisions at every stage of growth. Noah, welcome to the show.  Yeah. Pleasure to be here, Steve.  Well, great to have you here, and I’m very curious about your career and your business and what you built here. I’m particularly curious about your personal ‘Why’ and how you manifest it in your business.  Personal ‘Why.’ That’s great. Well, I’ll be honest, I didn’t go in thinking I was going to be an accountant or run an accounting firm. You know, I studied accounting in school. Eventually, I thought I was going to probably be more in a kind of front-of-house sales relationship because I enjoyed the people part—making relationships and meeting people.  But I was very fortunate that I found the consulting, fractional CFO world, where I got to discover a love of problem-solving, creating relationships, and creating value for clients. For me, it was kind of this love of helping clients understand their business, helping clients understand what to think about around the corner, where it's not just being in-house with one set of books that you're closing.Share on X  When you’re at Finvisor, my day-to-day, at least when I started, was probably working with 10 to 12 clients a month and helping them understand, “Okay, how did they perform last month? Can they hire a certain number of people? And what’s the plan going forward?”  Yeah, I mean, that’s super helpful. I started life in accounting as well with KPMG, and what attracted me was to essentially have that language of business so that I would be able to understand how a business works and have this confidence of not flying blind, right? That’s really, really cool. So how did you evolve from a CFO into a founder? What was the trigger point for you?  So I was very fortunate. I actually was at a prior firm at one point when I started my career, and they were a little bit like the cobbler with bad shoes, where eventually they decided they had to close shop, and clients were going to be given notice. I, myself, was given notice saying, “Hey, in a week, you’re not going to have a job, Noah.” And so I was really given this moment in life, saying, “Hey, if I enjoy what I’ve been doing, do I think I could do it better than the firm I’d been at?  And do I want to make this leap into being a founder and starting a business?” And so my co-founder and I both talked to each other and said, “Look, we love our clients. We love what we’ve been trying to build. I think we just need to do a little bit of a refresh and restructuring of how this operates.” And so we started our own company. I was very lucky that I started with about, I had about 30 clients and a team of four on day one, which I think is unusual.  Most people in the accounting space start off as a one-person shop, trying to grow from one to two, and having to double their clients or double their size to get there. We were fortunate to have five team members and 30 clients on day one. Originally, our vision was just, “Hey, let’s help with the fractional CFO and the bookkeeping,” but that really evolved over time as we added additional services and really understood where our clients were having problems in their back office.  What are the areas where maybe the insurance brokers they’d been working with weren’t very hands-on and kind of came in once a year? Our clients were asking us, as their CFO, “Hey, can you help us select our health insurance?” And we’re like, “Well, we’re kind of doing the broker’s job. Why don’t we build out our own team?” So that was one of the first verticals we moved into and added by building an insurance brokerage. From there, we kept building, where now not only do you have your CFO and accountant helping you, but you also have them with the ability to go out to market, help you compare quotes, and help get your insurance in place. So you’re essentially expanding the array of virtual services that you’re providing, or fractional services that you’re providing, to your clients?  Correct. Yeah. We really try to own the full back office end to end because I think a lot of people deal with, “Okay, great, I have a bookkeeper, I have a tax accountant, I have an R&D tax provider,” and they’re dealing with four or five different vendors that don’t really communicate. The client is the person playing telephone between the two, and we’re like, “Wait, stop. Why is this the solution?” We should just build a different business where it’s all under the Finvisor umbrella.  It’s all full-time team members who are actually working together on behalf of the client, even if fractionally. Some of our clients only need five hours of a payroll specialist, but they need someone to own that role, and they need that person to be able to talk to their sales tax team because it’s like, “Oh, we hired someone in a new state. Is sales tax applicable there?” And connect those dots because, when you have these disconnected providers, you have a lot of things that can drop because they’re not in people’s field of view.  Yeah, I mean, it’s a great service. If you can get a competent team that will take care of your back office, then you can focus on figuring out message-market fit and then essentially scaling revenue. You don’t have to worry about it, and you don’t have to babysit inexperienced people that maybe you can afford to hire, but who would not be able to own the job.  Yeah, exactly. I mean, it’s kind of the, “Do you want to…” You know, I think at least when we started in 2014, there was more of a generalist bookkeeper. That’s kind of the typical solution people went with. Nothing against that, but it’s kind of nice to have dedicated specialists in the different back-office areas that you need. I mean, bookkeepers are great.  They’re usually not your best payroll and HR people. They’re not thinking about California final-paycheck laws, or whether you need to offer a 401(k) if you hire someone in California. Whereas, if you have someone whose entire job is payroll and HR, and you need Finvisor to help run your payroll, they’re going to be thinking about those edge cases and helping you along so that you can just build your business, get to the next milestone, and not worry about tripping yourself up because of compliance, taxes, or a lack of visibility in your reporting. Yeah, that’s great peace of mind. So this podcast is about frameworks, and I wonder, what is your framework? How do you help your clients, or how do you figure things out? What have you developed? We’re about 400 frameworks in, so I’m looking for something unique that helps you and is easy to explain—three to five steps maximum.  Yeah. I mean, one of the ones that comes to mind for us is what we’ve really called the Adjacent Extension Framework. So, first, do really good work and earn your client's trust in one area. Makes it easy for them to approach you.Share on X For us, it’s historically been accounting. People think, “Great, get my books put together.” But for us, it’s really about creating a relationship and earning the client’s trust.  Then, as step two, listen for the other problems they’re having. What are the adjacent problems they’re asking you to solve? And then for us, what we’ve really done is double down in those other areas by building specialists in those verticals. Once you’ve earned the client’s trust, if you’re doing their accounting and all of a sudden they’re struggling with invoicing or collections, you can say, “Hey, we can also help you with accounts receivable and collection efforts because we see your AR balance increasing on your financial statements.” At that point, they’re already thinking, “Great, I like working with this person.  Let’s give their team a try and help us solve another problem.” So, for us, it’s really been about finding those adjacent problems, building a team that specializes in them, and then connecting the client with the right expert. The last piece that’s really coming to market now is using technology to empower the team. Historically, a lot of our value came from having experts who could handle the edge cases or the gray areas between payroll, accounting, taxes, and sales tax. Now, with technology, you can also build the data infrastructure to highlight what’s happening for the client while helping guide the team as they manage those clients.  Love it. So what I’m hearing is, number one—or maybe even number zero—is do a great job, right?  The trust.  Okay. So that’s maybe another way of saying it: earn the trust. But is doing a good job enough to earn that trust, or is there more to it?  I mean, I think in any service business, you want to be proactive. A lot of bookkeepers, accountants, and even legal professionals are usually waiting for the client to ask a question before providing an answer. I think the goal should be to think ahead for the client and proactively provide guidance. That came naturally for us because we sit in the fractional CFO seat.Share on X  But even if you’re just doing bookkeeping, you can still catch these things for clients and help them out. Or if you’re selling P&C insurance and helping clients with their general liability coverage, you can think about what other types of coverage they may need. So I’d say the more proactive you can be, the better. The other thing is meeting clients where they already are.  For us, a lot of our clients are on Slack, so we connect with them on Slack. We chat with them as if we were full-time employees because we don’t want the experience to feel different. We don’t want you to feel like you’re emailing a generic support inbox and not knowing when someone is going to get back to you. If you only need fractional-level support, it shouldn’t feel like you’re getting fractional value or a fractional level of communication.  I love it. So you actually own the function inside the organization, so it feels like you’re part of the team, or your people are part of their team. So that builds the trust. So, do a great job, or earn the trust, number one. Number two, build the relationship. Number three, listen to other problems that they might have. Number four, connect them to other specialists. And number five, empower the team with technology.  Yeah. That’s a lot of it. I mean, as an advisor, we’ve grown… I mean, 60% of our growth comes from client referrals. So I think you know you’re doing something right if clients are recommending you to their friends and network. And so hopefully, if someone’s listening to this and you’re not getting referrals, you should be thinking about, “How do we either create more trust for our clients to be referring us, or how do we become more top of mind when clients are having these conversations?”  That’s great. So 60% of your growth comes from referrals. What’s the other 40%? How do you drive growth? What drives growth for you? What’s the other way to drive growth besides referrals?  Yeah. I mean, I think it’s also being connected with the ecosystem that you’re in. In our space, there are a lot of technology partners. Think about Xero, which is an accounting software, QuickBooks Online, NetSuite, payroll software like Rippling, Bill.com. They all have accounting partnerships, and the more you can build with them and grow your team alongside them, clients will reach out to them and say, “Hey, do you have someone who can help us set up Bill.com or help us set up Rippling?  We don’t have a payroll team to do our state tax registrations.” So we’ve seen a lot of good momentum as our software partners start sending us clients to help us grow. I think the other area is trying to figure out where you can have partnerships that will do introductions. We’ve been very fortunate in partnering with a number of VCs. Obviously, the VCs have worked with us because we’re on the board, or we had a mutual client. A lot of them will start to build partnership channels, and it’s a great opportunity.  They’ll say, “We just invested in this company, and you should go talk to Noah’s team to help with your accounting or your fractional CFO.” So it’s really about finding those tangential operators or entities that complement whatever you’re doing.  So are these primarily personal relationships that need to scale, or do you have a way to scale this across other people in your organization—this ability to develop partners? Or is it mainly you?  It depends on the role. A lot of our fractional CFOs on the team continue to build relationships. I would say probably 40% of our new clients come through a channel that’s not through me. There’ll be other people on our team who have built relationships with another VC or another software company. I think one of the key things we’ve always focused on is hiring people who are very, I would say “doers” might be the wrong word, but people who can self-manage and be project managers.  If you find the right people who can take a step back and look at the bigger picture, I mean, sometimes people come to Finvisor and they don’t realize that we ourselves are a business. Yes, you’re doing accounting like you were in-house and getting the books closed, but if you do good work and you realize clients are having problems, you have to think, “Hey, how can I help clients more and also help Finvisor create a win-win?” A lot of times, when we’re hiring, we’re trying to find people who have that type of drive to continue building and helping us internally, and not just do one part of the puzzle they’re responsible for. That might not be the most direct answer, but I would say a lot of it is hiring—making sure it's not just me leading the growth, but me building a team that can help lead the growth outside of just me.Share on X  Yeah. So how do you share the context so that your team members can connect the dots as well as you can? What’s your approach to that?  There’s a couple of ways we’ve done it. One way is we use a note-taker that then feeds into our CRM. For all client communication, whether they meet with us on Zoom or Google Meet, the transcripts are put into a centralized hub for us. It also connects to our CRM in terms of what we’re doing for the clients. At any point in time, someone can ask, “Hey, what’s going on with this client?” They can understand, “Great, this is what the payroll team talked to them about this week.  This is what the CFO team talked to them about last month. These are the problems they’ve been bringing up.” So we can capture that information without it having to be provided orally every single time, and without having to rely on a chat or an email to the team. There are some moments when it’s useful to give the team a larger update, but in general, it’s good to figure out a way to capture the essence of what you’re doing for your clients so that the team can then, in an AI chat-specific way, talk through, “Hey, great, what’s going on with this client? What are their needs? What has changed in the last six months? Who’s working on the client?”  I’ll have a VC that we’re talking to say, “Oh, we’re looking to invest in the CPG space and this type of vertical. Do you have any clients?” We’re at a point now where I don’t know every client. I usually have an idea about most clients, but there are definitely clients where I don’t know everything that’s happened in the last six months because I don’t talk to all 200 clients.  But I can go to our central hub to gain that information and understand, “Okay, great, which client is looking to fundraise and might want to be connected to this VC?” It’s a nice way to connect the dots. They’re looking to invest. The client is looking to raise. We also do brown-bag sessions. We’re a distributed team, so I think you have to be a little more intentional about how you educate the team. We’ll have weekly meetings where we walk through new technology, new changes in what we’re offering, new positioning, and continue educating the team in a more structured format.  The other thing we’ve done to help the team understand what’s going on is to make information as accessible as possible, similar to how we communicate with clients. So the team doesn’t have to log in to a pretty outdated CRM to pull information on a client. It’s either available directly in the Slack conversation or in a more modern tool like Notion, where you can easily search and find the information you want. So basically, you’re managing and harvesting your data and using that to feed people information about how they can develop partnerships. Is that what I’m hearing?  Yeah. And I think a lot of it is also figuring out which playbooks and processes are repeatable, documenting them better, and then educating the team around them. For example, with our fractional CFOs, we want to be in the board meeting. If we can be in the board meeting, A, we can help clients answer questions about their finances more easily, and B, it’s good to have visibility into what the board is saying about the business and where they want to go.  Then, obviously, the VCs are going to say, “Oh, great, this is Ian at Finvisor.” If he reaches out to me about a partnership, they’re going to have a better understanding of what we do because they’ve been in the room with us—or they’ve been in a virtual or in-person boardroom with us.  So you’re basically sharing the playbook so that they have a better understanding of what they can refer you for. Correct. Yeah.  So, switching gears here, Noah, what’s one thing that you’re trying to actively figure out in your business right now?  I mean, the question everyone is trying to figure out, at least in my space, is how they’re going to use AI in some fashion. That’s the kind of million-dollar question everyone keeps talking about—AI in accounting, AI in finance. Right now, we’re really structured in how we’re trying to use it and apply it. But the question I have is, what’s the next year going to look like? What’s five years going to look like as this technology gets more legs and more trust behind it? We’re pretty intentional about what we’re building and how we’re using some of the newer technology with AI. But I think there’s a lot that, at least for me, you have to continue to iterate. The world today feels different than it did three months ago. I’d say for most of Finvisor’s history—and this has been 12 years—it hasn’t felt like that, where a year later things might feel marginally different because we’re maybe 20% bigger or whatever might have happened.  Now, I think there’s a lot more excitement and unknown around technology and how it can either make people more efficient or help highlight and surface better issues that clients need to talk through. But I also feel like we’re in a moment where everyone’s trying to throw AI into every technology. So we're also trying to stay true to who we are, which is people first, relationships first—technology powering us, not being the solution.Share on X  So as you’re scaling AI to improve the information that your people have, your CFOs have, that presumably is going to lead to people doing less of the mechanical, repeatable tasks and more of the judgment tasks. So how do you scale judgment as you’re scaling the impact with AI?  On our side, I think it’s A, trying to organize and structure the data coming in. B, trying to create tooling that isn’t unique to one client but is built in a way that can be customized for each customer. A lot of the firms I talk to that are in the Finvisor space just take a blanket approach—turn Claude on for every fractional CFO, let them connect it to QuickBooks, and try to figure out their own playbooks.  That’s not how we’ve ever run the business. We don’t just hire accountants and let them run the accounting and see how the output turns out. We’re more focused on figuring out what is actually useful for review. Right now, I think AI has been most helpful around quality. It can definitely check that things are consistent and make sure edge cases are being caught.  I think we’re going to get to a future state where it’s not only making sure quality is at the 95th percentile of confidence, but also giving visibility into metrics like CAC, LTV, and churn—things that would normally take longer to pull together. Your fractional CFO might currently spend hours reviewing Stripe data or Shopify data to come to a conclusion. AI can cut out maybe 40% of that data-cleanup layer, where it’s like, “Okay, now they have the tools to dig in and understand what the underlying problem is,” instead of spending so much time cleaning up the data and getting everything organized.  So currently, at least my thesis is that it’s going to allow us to manage more clients because some of the day-to-day—I don’t want to call it busy work—but the work you have to do before you get to the exciting parts of the job will become more automated and less manual, like pulling data out of Stripe, Shopify, your CRM, or NetSuite.  So does that mean you’ll have a different type of people, maybe higher-level thinkers? Or do you think you can elevate your current team to that level?  Yeah. I think you’re… Sorry, I know I was originally answering this through the fractional CFO lens. Most of our fractional CFOs are already at the top of that organizational pyramid. For them, it’s really about helping them have cleaner data, better visibility into the actions they need to take, and better insight into what they should be reviewing and discussing with the client.  If I think more broadly about the back-office finance team, I do think a lot of the more generalist staff accountant and AP specialist roles won’t be spending as much time on the day-to-day blocking and tackling. If a client has 1,000 transactions a month flowing through their bank and credit cards, historically that accountant would sit in QuickBooks Online clicking “Okay, okay, okay,” reviewing every transaction and coding it. Eighty percent of those transactions will simply be coded automatically in real time as they come in. That leaves them to focus on the 20% that actually requires human judgment.  For me, the question is, can we continue to empower those people to be more impactful with that 20%? Are they the right people for that 20%? We’ve always tried to hire people who are proactive and broader thinkers, so I think we have the right team to step into that. If we’d built a traditional BPO model with an outsourced accounting team made up of people who were really just coding transactions at a basic level, I’d be more worried because getting those people to step up and handle edge cases is difficult.  But that’s not how we’ve historically built Finvisor. We’ve always tried to find people who are a little more… I’d rather hire an A-plus player than a B-player just because there’s some savings in the cost structure. I’d rather have the right people who can perform 80% of the time when they’re at bat than just hire someone because they’re cheaper.  Yeah.  Wrong baseball analogy there, but yeah.  Yeah, I understand. So you have A-plus people. Maybe the people who are doing more bookkeeping-type services—their jobs may become automated—but your A-players are going to have best-in-class information, and they can serve more clients that way.  Yeah. I still think that if you think about the typical accounting structure—if you’re working in-house and you have a bookkeeper and a controller—it’s still helpful. Depending on the size of the company, if you’re a small company, you probably won’t need that bookkeeper.  The controller can handle the edge cases and close the books. But at a certain scale, you’ll still want that junior resource supporting the controller so the controller can focus on the higher-level, more strategic work. I think people will simply be able to do more with less if they’re the right person. There will be people who, if they aren’t good at staying on their toes and figuring out edge cases, won’t be the right fit.  AI will probably replace some of those roles. But I think there’s a great opportunity for people who can think more strategically. They don’t have to be a CFO. They can just be a really smart bookkeeper who’s good at handling edge cases. They’ll simply be able to manage three times as many clients as they could when they had to code every single transaction.  Okay. If you had a magic wand and you could fix one thing in your business over the next 12 months, what would it be?  One area that we probably haven’t prioritized enough because of growth is SEO, AEO, and our overall sales build-out. Our paid advertising hasn’t been the strongest part of our business because it hasn’t been the top priority. If I had a magic wand, I’d have someone clean up our SEO and AEO visibility because I know clients love us and we do great work, but I don’t think we’re showing up the way I’d like from an SEO and AEO perspective. So that would be it. Yeah.  Yeah. Yeah. Love it. So, who are your ideal customers? Who do you want knocking on your door? Is it venture-backed companies primarily, or do you also work with private company founders? Who are your sweet-spot customers?  A lot of our clients are going to be in that 5-to-50-employee range, where they don’t need a full-time back office, a full-time accountant, a full-time CFO, or a full-time payroll specialist, but they need someone to own those roles. That way, we can put together the right Finvisor team to support them. We’ve intentionally made ourselves pretty modular, so while the largest group of our clients is in the tech VC world, we also have a lot of SMBs—law firms, beauty businesses, and other professional services businesses.  I would say that, if you looked at the Finvisor client base as a whole, you’d probably see a lot of startups. But we’re also starting to see more SMBs and more traditional businesses that don’t have VC funding but still need help with their accounting, bookkeeping, and modernizing their back office. So it’s a bit of both. Most of our clients are going to be in that 10-to-50- or 100-employee range, where they’re complex enough that they care about their financials and want to understand what they spent last month, where they’re going, and how they’re going to get there.  Earlier-stage companies are sometimes just a little too early. If you’re a one- or two-person company with just an idea, there’s a reason people think about their financials on more of a cash basis. They can think about the five clients they’re working with. Their bank balance ties pretty closely to their financials. There’s not a huge difference between the two when you’re a sole proprietor.  But as you start to evolve, that’s where Finvisor can provide more value. For all of our clients, we do accrual accounting, so we’re recognizing your revenue and your costs over the life of the service. As you start to grow and build, that’s really helpful. Obviously, if you’re at day one, it’s less impactful because you’re living more day to day, week to week, and month to month.  Steve Preda: Okay. So if we have those kinds of companies—which we do among our listeners—and they hear about this and want to fix their back office and outsource it to a reliable partner who can help them own those functions and give them good advice, what’s the best entry point? Where should they go, and how can they connect with you personally as well?  Yeah. hello@finvisor.com comes to me and the sales team. There’s probably a 95% chance you’ll talk to me if you reach out because I still love connecting with most new businesses that come through the door. The other area I wanted to call out that could be helpful for businesses is PEOs. PEOs are great, but I think at some point clients need to graduate from the PEO, and Finvisor is uniquely positioned to be both your insurance broker—helping you quote large-group plans—and your payroll and HR team to help you leave the PEO.  For a lot of our clients, once they pass that 100-employee mark, it’s like, “Great, we now qualify for a large-group plan,” which might have better rates than what they’re getting through the PEO. They just don’t have the team or bandwidth to get off the PEO. We’ll come alongside those larger companies and say, “Great, let’s quote a large-group plan for you. We’ll also put together a transition plan to register you in the 20 states where your employees are currently located.  We’ll make sure you get your workers’ compensation and employment practices liability insurance in place so there’s really no difference—apples to apples—from being in the PEO to running your own payroll.” We help with that transition because I’m always surprised to see companies with hundreds of employees still on a PEO, where the savings could be in the hundreds of thousands of dollars if they left. They just don’t have the internal team because they’ve always been on a PEO. They’ve never had to do state registrations, so they don’t know how to do them. Because of that, they’re usually not looking for an alternative path to get off that structure. We can at least review it with them and help them out if it’s a good fit. And just to remind our listeners what a PEO is, in case they don’t know.  Oh, sorry. Yeah. A PEO is a Professional Employer Organization. If you’ve heard of companies like TriNet or Justworks, they’re PEOs. In the health insurance space, there are four primary ways you can get health insurance. Most companies start with small-group plans in the early days because they’re state-mandated. For example, in California, if you’re under 100 employees, the rates my company gets would be the same rates Steve’s company gets if we’re both under 100 employees and we’re asking Blue Shield for a quote from the same ZIP code. That’s small-group insurance.  Then there’s level-funded, where carriers quote specifically based on your employee group. There’s large-group, which is somewhat similar but designed for larger organizations. Then there’s the PEO. Let’s say you’re a 10-person company. You don’t have enough employees to qualify for large-group health insurance, which is usually discounted because the risk is spread across hundreds of employees. The PEO says, “We’ll employ your team. Instead of you directly employing 10 people and buying health insurance for only those 10 people, we’ll employ your team and give you rates based on the 10,000 employees we already have.” PEOs are really popular in places like California and New York, where health insurance is very expensive.  But once you get above about 100 employees, you can usually qualify for your own large-group rates, which are similar to what the PEO is getting. The difference is that the PEO is generally marking up those rates because they need to make a margin on the plan. You can often get those rates directly yourself.  Yeah. That makes perfect sense. Okay. So if you’re listening to this and you’re building a venture-backed startup, or you’re the founder of a professional services firm, a law firm, or another small business with 10 to 100 employees, and you don’t yet have the budget—or maybe you simply don’t need—a full-time CFO, insurance advisor, HR leader, and other functional specialists, then reach out to Noah and Finvisor.  Check out what they have to offer and see what services might be a good fit for your business. Thanks, Noah, for coming on the show and sharing your expertise. It’s fascinating to see how this field is evolving, how you’re tapping into technology, and how you’re focusing on the highest-quality CFOs to help your clients. If you enjoyed this conversation, stay tuned.  Follow us on YouTube, Apple Podcasts, or wherever you get your podcasts. Make sure you don’t miss an episode. Every week, we bring you exciting entrepreneurs and their best management frameworks. Thanks for coming, Noah, and thanks for listening.  Thanks, Steve. Appreciate it. Important Links: Noah's LinkedIn Noah's  website Noah's email: hello@finvisor.com

On this episode of Impact Theory with Tom Bilyeu, we dive into the complex and rapidly shifting dynamics of Japan's economy and why the entire world—especially investors—needs to pay close attention. Jeff Snider and guest Andre Jik unpack the unraveling of Japan's legendary economic resilience, explaining how decades of low interest rates created a global liquidity engine now threatening to go into reverse. The conversation explores the cascading impact of Japan's monetary moves, from the yen carry trade to the unprecedented pressures forcing Japanese wealth to return home. We break down the psychology driving economic decisions, the looming possibility of authoritarian interventions, and why changes in Japan's bond and currency markets could send shockwaves through everything from US Treasuries to your own retirement account. Whether you're a market watcher or just trying to understand how faraway headlines can hit your wallet, this episode builds a mental map for navigating one of the most important—and misunderstood—economic stories of our time.Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.ATT Business: Switch to AT&T Business at business.att.comEthos: Get a free quote at https://ethos.com/impactSurfshark: Go to https://surfshark.com/bilyeu or use code BILYEU at checkout to get 4 extra months of Surfshark!Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom.Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

For decades, Americans have been told that cholesterol is public enemy number one. But cardiologist and heart surgeon Dr. Philip Ovadia says we've been fighting the wrong battle. Despite decades of lowering cholesterol with drugs and dietary advice, heart disease remains the #1 killer in America—and Dr. Ovadia believes it's time to rethink what's really making us sick. After losing more than 100 pounds by adopting a diet centered primarily on meat, Dr. Ovadia began challenging conventional wisdom about cholesterol, nutrition, and metabolic health. Mike sits down with the bestselling author of Stay Off My Operating Table to discuss why he believes insulin resistance and metabolic dysfunction—not cholesterol—are driving the epidemic of heart disease. They also dive into his new book, Stay Off My Kitchen Table, available today, and explore why his message has become one of the most talked-about—and controversial—in modern medicine. Tip o' the hat to our excellent sponsors Pure Talk—Switch your phone service today and enjoy your first three months of talk, text, and data for just $15 a month. Go to PureTalk.com/ROWE NetSuite—The #1 Cloud ER. If your revenues are at least in the seven figures, go to NetSuite.AI/MIKE and try NetSuite Next for FREE. GoodRanchers.com/ROWE—Sourcing 100% of their meat from American farms and ranches and delivering straight to your door. Get $50 off anything on their site and get DOUBLE the FREE meat with every order when you start a plan.

Episode IntroductionThe conversation focused on the dramatic changes unfolding in the world economy and their far-reaching effects on personal wealth and global markets. One concept discussed was the historical Hamiltonian economic model, emphasizing the cycle of protecting domestic industries, building manufacturing strength, and eventually succumbing to the temptations of financialization. A key theme that emerged was the current strategic maneuvering of global superpowers—most notably China—moving away from US debt and aggressively acquiring physical gold, signaling a shift in trust and reserve currency status.The discussion explored how America's shift away from its manufacturing roots, driven by decades of financialization and globalization, has created vulnerabilities now being exploited on the world stage. Several points were raised, including the “impossible triangle” faced by policymakers, the deliberate weakening of the US dollar, and the implications of central banks' gold buying for individual investors. Ultimately, the episode challenges listeners to rethink conventional wisdom about currency, assets, and the evolving balance of global power.Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.ATT Business: Switch to AT&T Business at business.att.comEthos: Get a free quote at https://ethos.com/impactSurfshark: Go to https://surfshark.com/CODE or use code CODE at checkout to get 4 extra months of Surfshark! Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

SPONSORS: Don't let your mind get in the way of a good time. Discover your options at https://BlueChew.com Visit https://ethos.com/BEARS Enjoy the refreshing citrus kick of Mountain Dew, an American Original. Tasting Great Since '48. Look for Mountain Dew in stores near you at https://mountaindew.com Sponsored by BetterHelp. Sign up and get 10% off at https://betterhelp.com/bears Get started with ShipStation today and get sixty days free at https://shipstation.com, with code cave. If your revenues are at least in the seven figures, go to https://NetSuite.AI/BEARS. Head to Factormeals.com/bears50off and use code bears50off to get 50% off. This week on 2 Bears, 1 Cave, Tom Segura and Bert Kreischer compare their two very different eras of being fat, Tom's custom-made fat guy shirts, hard visceral fat vs. soft fat, and why losing weight made everyone think Tom got lip injections. Bert's sober documentary binge takes them from Patient Zero "Gay Tom" spreading AIDS across the Air Canada route map to Concorde pricing scams. Tom also reveals the fattest thing he's ever seen Bert do: ten appetizers, four entrées, and twenty doubles in Tallahassee. Bert also retells Bill Hader's retelling of Henry Rollins meeting David Lee Roth, and his daughter's instantly legendary Boston Tea Party take. Then things get real: a midlife crisis YouTube video sends Bert and LeeAnn into a "sell everything and get five apartments in five cities" fantasy, LeeAnn gets brutally honest about when she was happiest, and Tom breaks down the difference between happy and content. Plus: Hulk Hogan inflating Andre the Giant's weight, Julian's belt reaction to the Michael Jackson movie, Whoop resting heart rate brags, Craig Robinson's dunk, and the great first sweat vs. last sweat debate. 2 Bears, 1 Cave Ep. 334 https://tomsegura.com/tourhttps://www.bertbertbert.com/tourhttps://store.ymhstudios.com Chapters 00:00:00 - Intro00:00:52 - Fat Tommy Vs Skinny Tom00:09:16 - Patient Zero, Polio, & The Concorde00:19:38 - The Fattest Thing Tom Ever Saw Bert Do00:23:55 - Bill Hader, David Lee Roth & Boston Tea Party00:32:21 - Hulk Hogan, Macho Man & LeeAnn Off Leash00:36:37 - Five Apartments In Five Cities00:46:12 - Bert's Midlife Crisis Theory00:54:34 - "You're Not Hitting The Notes, Mike"00:57:05 - Whoop Brags & Craig Robinson Dunking01:02:36 - Wrap Up Learn more about your ad choices. Visit megaphone.fm/adchoices

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Welcome back to The Tom Bilyeu Show with cohost Drew and channel Moderator, Ryan! In this episode, today's conversation focuses on the deepening collision between Western values and radical ideologies, examining recent headline-grabbing events—such as a violent attack at a Berlin pride parade—and exploring their broader societal implications. A key theme that emerged was the tension arising from clashing value systems, particularly as mass migration and ideological divides challenge the fabric of Western nations. The discussion explored not just the menace of extremism, but also the influence of far-left political movements, examining policy proposals from groups like the DSA and their potential effects on democracy, culture, and the economy. Several points were raised, including the risks of narrative capture in an age of rapid information, the recurring patterns of history when values collide, the limitations of current U.S. military and economic strategies, and the urgent need for honest debate about immigration, national identity, and the West's future. This episode dives into controversial topics with unflinching honesty, aiming to spark critical thought about the challenges and responsibilities facing societies today.Sponsors:Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.ATT Business: Switch to AT&T Business at business.att.comEthos: Get a free quote at https://ethos.com/impactSurfshark: Go to https://surfshark.com/CODE or use code CODE at checkout to get 4 extra months of Surfshark! Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The yen just hit a 40-year low and Japan is trapped. Whether they hike or freeze, it ends the same way: the pin that pricks our bubble.Tonight's episode is sponsored by NetSuite. For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, Go to http://netsuite.ai/goldTonight's episode is also sponsored by Rockwell Automation. Download their 11th Annual State of Smart Manufacturing Report at https://rok.auto/sosmInvestors are far too complacent about risks that are now hiding in plain sight. The AI trade cracked this week: Alphabet fell 10% after announcing even higher CapEx, Oracle is down 41% on the year, Meta and Amazon fell, and Microsoft is nearly in a bear market. SpaceX now trades 49% below its post-IPO high with its float set to jump from 5% to 40% by year end, and Tesla dropped 18%, costing Elon Musk nearly $100 billion in a week. Peter Schiff compares the roughly three-quarters of a trillion dollars in annual AI CapEx to the dot-com build-out, where the early favorites went bankrupt and took their vendors down with them.The bigger danger is Japan. The yen fell to a 40-year low against the dollar, the 30-year JGB yield hit an all-time high near 4%, and with debt above 200% of GDP and a policy rate still at just 1%, Japan is trapped. Whether the Bank of Japan finally hikes aggressively or stays timid, the result spills into the United States, potentially forcing the world's largest holder of US Treasuries to dump its $1.1 trillion position. Schiff calls Japan the pin that pricks the far bigger US bubble. Meanwhile the US 30-year yield hit a 20-year high of 5.16% on more than four times the debt of 2006, oil is up 30% in July guaranteeing a hotter CPI, and gold rose on the week even as bonds and stocks fell, with the miners signaling a bottom. He closes on why record-low jobless claims are meaningless in a gig economy and why Trump's new slave-labor tariffs are an unconstitutional tax on Americans.Chapters:00:00 Japan Sparks US Crisis00:41 AI CapEx Reality Check07:51 AI Bubble Parallels13:03 Gold Miners Rebound19:17 Oil Bonds Warning Signs32:16 Japan Debt Rate Trap34:36 Weak Yen Trade Deficits37:22 Japan Creditor Status Slips41:22 Two Japan Crisis Paths44:26 US Vulnerability Dominoes45:21 Unemployment Claims Hype47:20 Why Claims Mislead51:37 New Tariffs Legal Workaround59:03 Wrap Up Subscribe CallFollow @peterschiffX: https://twitter.com/peterschiffInstagram: https://instagram.com/peterschiffTikTok: https://tiktok.com/@peterschiffofficialFacebook: https://facebook.com/peterschiff#PeterSchiffShow #gold #inflationOur Sponsors:* Check out Chilipad and use my code GOLD for a great deal: https://sleep.me* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy

Welcome to Impact Theory with Tom Bilyeu. In today's episode, we dive deep into the economic insights of Professor Steve Keen—a renowned economist who famously predicted the 2008 financial crisis. Keen challenges mainstream economic models and reveals the fundamental misconceptions that lead economists to repeatedly misjudge the state of the economy, especially when it comes to debt.We'll unpack why conventional wisdom about government and private debt is dangerously flawed, explore the real mechanics of money creation in modern economies, and explain why ignoring private debt can leave entire nations blindsided by financial turmoil. Along the way, we'll touch on provocative ideas like debt jubilees, the dangers of unchecked debt cycles, and the delicate balance between innovation, lending, and inflation.Strap in as we question what you really know about economics, challenge widely held beliefs, and uncover the models shaping your financial future—whether you realize it or not.Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderATT Business: Switch to AT&T Business at business.att.comIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom.Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=socialWelcome back to another episode of The Tom Bilyeu Show with Tom, cohost, Drew & channel moderator, Ryan. The conversation focused on the chaotic state of global affairs and the rapidly changing technological landscape, with deep dives into geopolitical tensions, economic strategies, and the accelerating influence of artificial intelligence. A key theme that emerged was the ongoing crisis in Iran, including escalating military actions, evolving U.S. foreign policy, and the broader implications for global stability and the energy market. The discussion explored the controversial shifts in AI governance, spotlighting Anthropic's regulatory maneuvers and debates about open versus closed AI models, along with the risks of regulatory capture and the impact on innovation.Several points were raised, including the economic consequences of deindustrialization, the rise of collectibles like Pokémon cards as alternative asset classes, and the ideological battles shaping domestic policies. Throughout, the conversation analyzed the underlying value systems driving both global conflict and technological advancement, ultimately emphasizing the importance of clear-sighted leadership and intellectual honesty in navigating an increasingly complex world.Chapters:00:00 Iran's aggressive threats and warnings08:27 Concerns over US manufacturing capabilities12:08 Nuclear threat and defense capabilities18:40 Trump's approach to foreign conflicts24:47 Cultural misunderstandings in the Middle East32:09 Discussing product safety regulations33:14 Challenges for Small Innovators42:37 Challenges of AI model training48:12 AI market dynamics and challenges53:55 Government involvement and economic tension54:51 Debating open source and funding01:04:30 AI fears and international competition01:07:15 AI and Human Future Dynamics01:13:05 US-Israel wartime information sharing01:17:32 Trading cards as an asset class01:22:59 Shonen Jump's target age strategy01:31:22 Investing in education access01:33:42 Importance of Caloric Deficit01:40:12 Critique on Marxist philosophy01:44:46 Critiquing capitalism and its misconceptions01:49:18 Discussing policy similaritiesSponsors: Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderATT Business: Switch to AT&T Business at business.att.comIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: For the first time ever you can try NetSuite Next for free. If your revenues are at least in the seven figures, go to https://NetSuite.ai/Theory. Built for every industry. Ready for every boardroom.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome back to Impact Theory with Tom Bilyeu. In this episode, we dive into the complexities behind the recent Consumer Price Index (CPI) report with Jeff Snider, creator of Eurodollar University. As inflation rates drop, the mainstream narrative celebrates apparent progress— but is this really the good news it seems?Jeff breaks down why the numbers aren't just about falling oil prices, revealing a deeper, crisis-driven deflation that spells trouble for both consumers and the broader economy. We unpack why traditional metrics might not tell the full story, how demand destruction—not healthy innovation—is driving price changes, and why core indicators point to widespread economic fragility rather than a return to prosperity. From the knock-on effects of COVID-19 policies to the persistent struggles of real wage growth, this conversation challenges conventional wisdom and offers tools for understanding the true signals within the chaos.Join us for an eye-opening exploration of what's actually happening beneath the economic surface— and hear why understanding these dynamics might be the most important financial education you get this year.Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderATT Business: Switch to AT&T Business at business.att.comIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheorySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=socialWelcome to another episode of Impact Theory with Tom Bilyeu! In today's show, Tom dives headfirst into the latest groundbreaking developments shaking up the worlds of AI, geopolitics, and beyond. From OpenAI's latest model hacking its way out of a test environment and the explosive competition between American and Chinese AI models, to major policy moves from Trump—think tariffs on generic drugs and high-stakes strikes on Iran's nuclear facilities—Tom pulls no punches unpacking the biggest stories. Along the way, he tackles pressing questions about the arms race in artificial intelligence, election integrity, and shifting global economic power.Expect candid analysis of how propaganda and incentive systems drive both technology and politics, the philosophical debates raging around AI regulation, and some lively cultural detours—including the future of human longevity and what Christopher Nolan's latest epic says about morality. Loaded with sharp perspective and a commitment to exploring all sides, this episode is your window into the headlines that will shape our future. So buckle up—today's conversations may challenge everything you think you know.Chapters: 00:00 Discussing unbiased news sources07:12 AI moving at machine speed15:41 Self-regulating through personal values20:52 Concerns about AI training data25:47 Deciding between patent or trade secret27:13 Discussing Palantir's AI solutions36:49 Reflecting on initial thoughts on Iran40:54 Trump's strategy with Iran47:30 Admitting uncertainty in discussions51:11 China and the concept of fascism55:59 Discussion on voter fraud concerns01:00:57 Discussing media and integrity standards01:05:07 Senate's role in representation01:13:44 Cultural sensitivity in character adaptation01:18:07 Praising Christopher Nolan's latest film01:21:54 Cell aging and methylation process01:31:19 Speculating on new nation concepts01:36:30 Gambling laws in video gamesSponsors: Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderATT Business: Switch to AT&T Business at business.att.comIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheorySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

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Welcome to Impact Theory with Tom Bilyeu. In today's deep dive, Tom unpacks why economic analysts missed the mark when predicting oil prices amid the ongoing war in Iran. Despite forecasts of oil soaring to $200 a barrel, prices unexpectedly plummeted—even as major shipping routes were disrupted and military tensions escalated. Tom takes us through a detailed timeline of the conflict, examines the surprising role of China's shrinking oil demand, and reveals how outdated economic assumptions failed to account for a global downturn already brewing beneath the headlines. By connecting supply, demand, and the hidden frailties of both the Chinese and U.S. economies, Tom explains why falling demand—not war or supply shocks—now holds the key to understanding the global market's future. Whether you're an investor, entrepreneur, or simply curious about the forces shaping our world, this episode exposes the deeper story behind today's economic anxiety and offers practical strategies for navigating uncertain times.Sign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=social Check us out wherever you get your podcasts:Spotify:https://open.spotify.com/show/1nARKz2vTIOb7gC9dusE4b?si=a8daffd2bf1f48fdApple: https://podcasts.apple.com/us/podcast/tom-bilyeus-impact-theory/id1191775648Do you need my help STARTING a business? Join me here inside ZERO TO FOUNDER: (https://tombilyeu.com/zero-to-founder)Get the exact systems, mindset shifts, and principles that built a $1B brand delivered straight to your inbox every week. Subscribe for free (https://tombilyeu.com)Check out our Video game - Project Kyzen: (https://projectkyzen.io/)Catch Me Streaming on Twitch - (https://twitch.tv/tombilyeu)Link to IT discord: https://discord.gg/TZKJ2etPbTTom's Favorite Things List: https://amzn.to/41Ftt7eFor Business inquiries: connect@impacttheory.comFOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Twitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderATT Business: Switch to AT&T Business at business.att.comIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheorySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

ITU: Ready to break through your biggest business bottleneck? Apply to work with me 1:1 - https://impacttheory.co/SCALESign up for my AI Masterclass: https://tombilyeu.com/ai-masterclass?utm_campaign=TBS-Livestream&utm_source=youtube&utm_medium=socialWelcome back to another live episode of Impact Theory with Tom Bilyeu, Cohost Drew and Moderator Ryan, where we dig deep into the pressing issues shaping our world right now. In this episode, Tom unpacks the escalating conflict in the Middle East, including the deadly attacks on US soldiers and the global economic repercussions. He explores the surge in Americans leaving the workforce, reflects on the economic crises gripping both the US and China, and breaks down the perils of populist rhetoric and the dangers of historical amnesia in politics.Tom also dissects a viral interview with a DSA co-chair blaming capitalism for Peru's downfall, contrasting that narrative with a historical analysis of Peru's real struggles. The episode navigates contentious debates about government interference in markets—from public grocery stores to state-subsidized industries—and the future of AI as China's Kimi model challenges US dominance.Rounding things out, Tom and the team tackle the latest on the Tate brothers' arrests, the realities of rising social discontent, and the difference between emotionally resonant political messaging and real solutions. Get ready for a wide-ranging, no-holds-barred conversation that combines history, economics, and the urgent social questions of our time.Sponsors: Quince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.Ketone IQ: Visit https://ketone.com/IMPACT for 30% OFF your subscription orderATT Business: Switch to AT&T Business at business.att.comIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Pique: 20% off at https://piquelife.com/impactNetsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheorySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Welcome back to Impact Theory with Tom Bilyeu. In today's episode, we dive headfirst into the heated debates and pressing questions shaping our future as artificial intelligence advances at breakneck speed. Drawing inspiration from a recent Joe Rogan conversation, we explore a provocative question: what happens to society, meaning, and individual purpose when AI makes work and basic survival obsolete?You'll hear why the popular vision of a utopian, abundance-filled future—where robots do all the heavy lifting and humans are free from mundane labor—might not play out as optimistically as some hope. We unpack the evolutionary wiring that compels us toward meaningful work, the existential risks of losing our sense of purpose, and the sobering lessons of the infamous “Mouse Utopia” experiments. Alongside compelling analogies, cultural observations, and big questions about regulation, generational adaptation, and mental health, this episode offers guidance for finding purpose in an era of abundance—and warns of what might happen if we fail.Get ready to rethink assumptions about work, happiness, AI, and the future of human fulfillment.What's up, everybody? It's Tom Bilyeu here:If you want my help...STARTING a business: join me here at ZERO TO FOUNDER: https://tombilyeu.com/zero-to-founder?utm_campaign=Podcast%20Offer&utm_source=podca[%E2%80%A6]d%20end%20of%20show&utm_content=podcast%20ad%20end%20of%20showSCALING a business: see if you qualify here.: https://tombilyeu.com/callGet my battle-tested strategies and insights delivered weekly to your inbox: sign up here.:https://tombilyeu.com/**********************************************************************If you're serious about leveling up your life, I urge you to check out my new podcast, Tom Bilyeu's Mindset Playbook —a goldmine of my most impactful episodes on mindset, business, and health. Trust me, your future self will thank you.**********************************************************************FOLLOW TOM:Instagram: https://www.instagram.com/tombilyeu/Tik Tok: https://www.tiktok.com/@tombilyeu?lang=enTwitter: https://twitter.com/tombilyeuYouTube: https://www.youtube.com/@TomBilyeuQuince: Free shipping and 365-day returns at https://quince.com/impactpodWhatnot: Download the Whatnot app today and get free shipping on your first order.ATT Business: Switch to AT&T Business at business.att.comShopify: Sign up for your one-dollar-per-month trial period at https://shopify.com/impactIncogni: Take your personal data back with Incogni! Use code IMPACT at the link below and get 60% off an annual plan: https://incogni.com/impact Quo: Try for free PLUS get 20% off your first 6 months at https://quo.com/impactPaleovalley: 30 for $36 https://bit.ly/PaleovalleyITNetsuite: Right now, get our free business guide, Demystifying AI, at https://NetSuite.com/TheorySee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

President Trump addresses the nation in a rare primetime speech about threats to our elections, Secretary of War Hegseth announces a new testosterone policy for the military, and the Trump administration moves forward with major reforms of Smithsonian museums after a report finds anti-American bias. Reporting Cabot Phillips & Megan Basham. Plus, we speak with Dr. Haleem Mohammed, MD, Chief Medical Officer at Gameday Men's Health. Get the facts first with Morning Wire.- - -Ep. 2896- - -Wake up with new Morning Wire merch: https://bit.ly/4lIubt3- - -Today's Sponsors:Good Ranchers - This month, you can get $50 off your first order when you head to https://GoodRanchers.com and use our code WIRE at checkout. NetSuite - For the first time ever you can try NetSuite Next for free. Go to https://NetSuite.AI/MORNINGWIRE. Built for every industry. Ready for every boardroom.- - -Privacy Policy: https://www.dailywire.com/privacymorning wire,morning wire podcast,the morning wire podcast,Georgia Howe,John Bickley,daily wire podcast,podcast,news podcast Learn more about your ad choices. Visit podcastchoices.com/adchoices