Podcasts about ramp

My guest today is Sarah Guo, founder and managing partner of Conviction, the venture firm she built to back AI-native companies from their earliest days.  Sarah has become one of the most sought-after early-stage investors in AI, often the first check into the companies defining the frontier.  In this conversation, we go inside that frontier: what the small group of people actually building AI believe right now, why some of the field's best researchers are wrestling with their own sense of purpose, and how close we are to robots in the home and a genuine acceleration in scientific discovery.  At the center is Sarah's conviction that no single company will own the future of AI, and what that means for founders, investors, and anyone allocating their time and resources in a world moving this fast. Our managing editor Dom Cooke wrote a profile of Sarah for Colossus, "Sarah's Wager," on how she built the firm closest to the AI frontier and why she's now betting against its biggest companies.  Please enjoy this conversation with Sarah Guo. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like the Best (00:02:16) Investing Without a Backtest (00:03:31) The AI Wager (00:06:16) Building the Best Investment Firm (00:08:37) Finding Non-Obvious AI Opportunities (00:11:00) The Frontier AI Talent Race (00:13:50) Compute as the Constraint (00:19:10) The Future of Robotics (00:22:15) Making Investment Decisions (00:26:13) How Sarah Spends Her Time (00:28:15) Raising a Venture Fund (00:30:49) Lessons From Her Parents (00:34:38) The Case for Open Source AI (00:39:01) Abundant Intelligence Isn't Inevitable (00:40:55) Compute Independence (00:43:14) Debates Inside Conviction (00:45:27) AI's Opportunity in Biology (00:48:58) Why Conviction (00:50:31) Finding Truth and Taking Risk (00:54:16) What Changes in the Next Year (00:56:46) The Kindest Thing

What I learned from reading Distant Force: A Memoir of the Teledyne Corporation and The Man Who Created It by George Roberts and The Outsiders by William Thorndike. Made possible by: Ramp: ⁠⁠https://ramp.com⁠⁠ Applovin: ⁠⁠https://www.applovin.com Vanta: ⁠⁠https://vanta.com/founders Some of my favorite quotes: 0:00 — "He aggressively repurchased his stock, eventually buying over ninety percent of Teledyne's shares." 0:45 — "He was known as The Sphinx for his reluctance to speak with either analysts or journalists." 1:25 — Charlie Munger: "Singleton's financial returns were a mile higher than anyone else's, that they were utterly ridiculous." 2:00 — Buffett: "The heads of many companies are not skilled in capital allocation. Their inadequacy is not surprising. Most bosses rise to the top because they've excelled in an area such as marketing, production, engineering, administration, or sometimes institutional politics." 4:10 — Singleton: "Our conclusion was that the key was cash flow. Our attitude towards cash generation and asset management came out of our own thinking. It is not copied." 4:30 — Buffett: "Henry Singleton has the best operating and capital deployment record in American business. If one took the hundred top business school graduates and made a composite of their triumphs, their record would not be as good as Singleton's." 9:40 — Singleton: "If anyone wants to follow Teledyne, they should get used to the fact that our quarterly earnings will jiggle. Our accounting is set to maximize cash flow, not reported earnings." 10:50 — Singleton believed buying stock at attractive prices was self-catalyzing, analogous to coiling a spring that at some future point would surge forward to realize full value." 11:50 — Singleton: "I don't reserve any day-to-day responsibilities for myself, so I don't get into any particular rut. I do not define my job in any rigid terms, but in terms of having the freedom to do whatever seems to be in the best interest of the company at any time." 14:35 — Singleton: "If everyone's doing them, there must be something wrong with them." (on share repurchases by Fortune 500 companies) 26:30 — Singleton: "Teledyne is like a living plant, with our companies as the different branches and each putting out new branches and growing so that no one business is too significant." 28:35 — Singleton: "We work our heads off to increase our own capability at collecting and promoting the right people. To the extent that we succeed, the whole company will succeed." 32:30 — "What's unique about him is that I'll ask him a question about one of these companies that I've asked him to supervise, and he always knows the exact numerical answer. That's the kind of fellow that you pick who runs a company and does it well." 35:00 — Singleton: "There are tremendous values in the stock market, but in buying stocks, not entire companies. Buying companies tends to raise the purchase price too high." 41:35 — Claude Shannon on Singleton: "He always tries to work out the best moves, and maybe he doesn't like to talk too much because when you're playing a game, you don't tell anyone else what your strategy is." 42:00 — Singleton: "We are not particularly persuaded by quick, temporary gains. We'd rather get something permanent, and that takes time." 44:40 — Munger: "Henry Singleton was the smartest single human being I've ever known in my entire life." 45:00 — Munger: "Henry was a lot smarter, but Warren had thought about investments a lot longer." (distinguishing raw intelligence from accumulated experience)

Vivek Vaidya of super{set} joins Nick to discuss AI Cost Structures and Pricing, Proprietary Data Sets That Create Moats, and a Clear Method for Determining Which Problem to Solve First. In this episode we cover: Challenges and Considerations in Selling Companies  Building Companies and the Importance of Selling Ahead  Navigating AI-Native Products and Cost Structures  Valuation and Pricing of AI Companies  Data as a Moat in the AI Era  Distinguishing Between Frontier Labs and Startups  Open Source and Data Security in AI Products Guest Links: Vivek's LinkedIn Vivek's X super{set}'s LinkedIn super{set}'s Website The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

Build your AI marketing department with this Claude skill: https://clickhubspot.com/uyon Ep. 448 Can you really fire your entire marketing team and replace them with AI? Kieran dives into the reality behind agentic marketing systems by putting an AI-powered marketing “team” to the test for a fast-growth AI company. Learn more on how AI audits and rewrites website copy, tackles product positioning, competes in search and LLMs, and whether these emerging systems can actually outperform the average marketer or just generate average results. Mentions Loop: Outlearn. Outmarket. Outgrow https://www.hubspot.com/loop-marketing-book Claude https://claude.ai/login ChatGPT https://chatgpt.com/ Ramp https://ramp.com/ One Mind https://onemind.org/ Get our guide to build your own Custom GPT: https://clickhubspot.com/customgpt Resource [Free] Steal our favorite AI Prompts featured on the show! Grab them here: https://clickhubspot.com/aip We're on Social Media! Follow us for everyday marketing wisdom straight to your feed YouTube: ​​https://www.youtube.com/@matgpod Twitter: https://twitter.com/matgpod  TikTok: https://www.tiktok.com/@marketingatg  Thank you for tuning into Marketing Against The Grain! Don't forget to hit subscribe and follow us on Apple Podcasts (so you never miss an episode)! https://podcasts.apple.com/us/podcast/marketing-against-the-grain/id1616700934   We really appreciate your support. Host Links: Kipp Bodnar, https://twitter.com/kippbodnar   Kieran Flanagan, https://twitter.com/searchbrat  ‘Marketing Against The Grain' is a HubSpot Original Podcast // Brought to you by Hubspot Media // Produced by Darren Clarke.

On this special segment of The Full Ratchet, the following Investors are featured: Larry Cheng of Volition Capital Ben Black of Akkadian Ventures and Powerlaw Corp Mark Peter Davis of Interplay We asked guests for the most important piece of advice that they'd share with folks early in their venture career. The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

My guest today is Neil Movva, founder of Sail. Sail is building what Neil calls a token factory, an inference company designed for a specific kind of future, one where AI agents run in the background for hours or days at a time rather than answering a human in real time.  In that world, latency matters less and cost matters more, and Neil has built the whole company around driving the cost of a token as low as it can possibly go. What makes this conversation special is that it is one of the most detailed tours I have ever done through the full stack of intelligence, the software, the chips, and the power, and how all three connect.  Along the way we cover the trade-off between speed and cost that lives inside every GPU, his scavenger strategy for buying the chips and power nobody else wants, his contrarian view on Nvidia, and why the premium the frontier labs charge for being three to six months ahead may not last.  Please enjoy my conversation with Neil Movva. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:20) Neil Movva (00:03:22) Building a Token Factory (00:05:32) The Rise of Long-Running Agents (00:08:47) Deep Research and Cybersecurity (00:15:12) The Full Stack of Intelligence (00:20:03) Throughput Versus Latency (00:24:58) The Future of AI Chips (00:33:19) Why Transformers Work (00:36:43) The Future of Data (00:44:05) The Market for AI Chips (00:47:56) Is the AI Boom Different? (00:51:08) Reinventing the Data Center (00:56:43) Scavenging Power (01:01:04) Where Compute Is Most Inefficient (01:07:02) Open Versus Closed Models (01:10:37) A Trillion Tokens a Day (01:12:42) The Contrarian Case on NVIDIA (01:14:38) Advice for AI Hardware Founders

Claude Hopkins was the greatest copywriter of all time. His ideas were so valuable that when he wrote them down in a book the founder of his advertising firm locked the manuscript in a safe for 20 years. When the book was finally published it sold over 8 million copies. David Ogilvy said that nobody should work in advertising until they had read the book seven times. This episode is what I learned by reading Claude Hopkins' autobiography My Life In Advertising and his legendary book Scientific Advertising. Made possible by: Ramp: ⁠⁠https://ramp.com⁠⁠ Applovin: ⁠⁠https://www.applovin.com Vanta: ⁠⁠https://vanta.com/founders Some of my favorite quotes: 0:00 — "Any man who by a lifetime of excessive application learns more about anything than others owes a statement to his successors." 5:12 — "The man who works twice as long as his fellows is bound to go twice as far, especially in advertising." 5:30 — "If I have gone higher than others in advertising or done more, the fact is not due to exceptional ability but to exceptional hours." 6:48 — "To poverty I owe the fact that I never went to college. I spent those four years in the school of experience instead of the school of theory." 9:08 — "Which is work and which is play? If a thing is useful, they call it work. If it's useless, they call it play. But one is hard as the other. All the difference I see lies in the attitude of the mind." 9:32 — "I came to love work as other men love golf. I love it still. The love of work can be cultivated just like the love of play." 9:58 — "We do best what we like best." 13:05 — "A good product is its own best salesman. It is uphill work to sell goods without samples." 15:00 — "We must never judge humanity by ourselves. The things we want, the things we like may appeal to a small minority." 15:23 — "We must submit all things in advertising to the court of public opinion." 17:48 — "Some of the greatest successes I have ever known in advertising were ignorant men. One wrote copy which would induce a farmer to mortgage his barn to respond, but every sentence had to be edited for grammar." 20:23 — "John Powers created a new concept of advertising. He told the truth, but told it in a rugged and fascinating way." 25:47 — "Study salesmen, canvassers, and fakers if you want to know how to sell goods. No argument in the world can ever compare with one dramatic demonstration." 26:35 — "The average salesman seeks favors. He seeks profit for himself. His plea is, 'Buy my goods.' He makes a selfish appeal to selfish people, and of course, he meets resistance. I was selling service." 28:45 — "We must treat people in advertising as we treat them in person." 31:23 — "Others have never told this story. It will startle everyone in print. I gave purity a meaning." (On Schlitz Beer jumping from 5th to 1st.) 32:03 — "Tell the pains that you take to excel. The maker is too close to his product. He sees in his methods only the ordinary." 34:08 — "The greatest two faults in advertising lie in boasts and in selfishness. People will listen if you talk service to them. They will turn their backs when you seek to impress an advantage for yourself." 41:23 — "People will do anything to cure a trouble, but little to prevent it. Prevention offers slight appeal to humanity in general. They want to be told of rewards." 1:01:30 — "Genius is the art of taking pains. The advertising man who spares the midnight oil will never get very far. This is no lazy man's field."

Jordi Visser is a veteran macro investor with 30+ years of experience and the author of the VisserLabs Substack. In this conversation, we break down bitcoin's explosive weekly surge and why this "sigma move" signals a real bull market. We also discuss the collision of AI and crypto, why bitcoin is the purest AI trade, Stripe and Ramp's battle to control AI model routers, and how to think about sizing bitcoin in your portfolio.=======================Arch Public is an agentic trading platform that automates investment strategies across Stocks, Commodities, ETFs and Crypto. Whether you're rotating into AI & Gold, allocating to the S&P 500, or accumulating Bitcoin, Arch Public executes your plan 24/7 without ever taking custody of your assets or funds. Sign up today at https://www.archpublic.com, and start your FREE automated trading strategy! =======================Figure's $160k Community Appreciation (https://www.figure.com/crypto-community-appreciation/T&Cs (https://www.figure.com/crypto-community-appreciation/disclosures/) Need liquidity without selling your crypto? Take out a Figure Crypto-Backed Loan, allowing you to borrow against your BTC, ETH, or SOL with 12-month terms, 8.91% interest rates, and no prepayment penalties. Or check out Democratized Prime (https://figuremarkets.co/pomp) and earn ~8.5% APY on real world assets. Unlock your crypto's potential today at Figure! https://figuremarkets.co/pomp Figure Lending LLC dba Figure (NMLS 1717824). Loans subject to approval. Crypto collateral may be liquidated. Terms apply - see full disclosures at http://figure.com/disclosures/=======================For a limited time, our listeners get 50% off FOR LIFE, Free Shipping, AND 3 Free Gifts at Mars Men at https://www.Mengotomars.com.=======================0:00 - Intro1:02 - Bitcoin's weekly surge & the "sigma week" behind it5:38 - The bitcoin vibe shift & intersection with AI 15:26 - Is multiple compression a warning sign for the market?19:03 - How much bitcoin should be in your portfolio?23:27 - Moderna, AI & the future of biotech29:20 - Stripe's OpenRouter deal & the fight for AI model routers34:13 - Are model routers a threat to Anthropic and OpenAI?44:00 - Why people fear data centers more than nuclear plants54:46 - Jordi's bitcoin call to arms 

Titans on Tomorrow Ep. 2 with guest Steve Ballmer Presented by Cardiff: https://cardiff.co/ben The AI revolution is upon us and it's changing the world fast.  Steve Ballmer has seen this movie before—he took over Microsoft the same year most households got their first computer and stayed CEO through the mobile phone revolution that Microsoft famously lost to Apple and Google.  He has A LOT to say about the investment, innovation, job displacement, dangers, and opportunities flying at us on the road to Superintelligence. In Episode 2 of Titans on Tomorrow, Ben Shapiro and Steve Ballmer talk about how companies are harnessing AI to explode productivity, how individual employees can make themselves invaluable by becoming AI natives, and the scary extremes we need to be working NOW to prevent as this technological revolution continues to unfold. Steve Ballmer was employee #30 at Microsoft, CEO from 2000-2014, and remains its largest individual shareholder and one of the richest men in the world.  He is the owner of the L.A. Clippers and founder of USAFacts. - - - Today's Sponsors: Cardiff - America's favorite small business lender, provides the liquidity to move at the speed of business with same-day funding up to $500,000. Apply in under 3 minutes with zero credit impact.  Apply now at https://cardiff.co/ben Ramp - Stop waiting till next month. Switch to Ramp and see it all in real time. New customers get $250 OFF at https://ramp.com/titans Helix Sleep - Go to https://helixsleep.com/titans for 30% off sitewide, exclusively for listeners of this show. - - - DailyWire: Become a Daily Wire Member and watch all of our content ad-free: https://www.dailywire.com/subscribe

On this special segment of The Full Ratchet, the following Investors are featured: Grant Demaree of Onebrief Mark Peter Davis of Interplay Glenn Solomon of Notable Capital Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

The dominant structural shift explored is the erosion of document-based differentiation for MSPs and IT service providers, driven by advances in generative AI, regulatory mandates, and automation of AI detection and content creation processes. Regulatory requirements such as the EU AI Act are compelling vendors like Anthropic and Google to introduce invisible watermarks on machine-generated content, while vendors including OpenAI have yet to standardize this practice. At the same time, third-party entities such as BlazeHive are automating the production and humanization of AI-generated output, raising concerns about the long-term viability of artifacts as proof of human oversight or competency. Evidence cited includes Anthropic's implementation of invisible watermarks on content produced by its Claude model, fulfilling regulatory obligations and planning to release detection tools to third parties. The durability of these watermarks is limited: "light editing probably won't strip the mark, but a complete rewrite... will" according to Anthropic's own guidance. Market analysis by Ramp shows a ceiling on enterprise spend for premium AI models like Anthropic's Fable 5, with adoption of high-end models remaining restricted in practice, and cost pressures pushing organizations towards locally-run, unmetered models such as Alibaba's recent release. Additional developments reinforce the structural gap in process and talent. Channel Dive and Information Week report that IT providers face increasing difficulty deploying the AI tools they sell, not because the tools are unavailable, but due to a lack of engineering skill and process clarity. Gartner's research, as reported by Information Week, identifies that failures in deploying AI agents stem from breakdowns in business process definition, not deficiencies in the technology. These trends illustrate that service providers' core asset is not tooling but an explicit, transparent process with clear review and accountability—something that automation and documentation alone cannot supply. For MSPs and IT service providers, these trends create risks around vendor substitution, diminished artifact value, and increased client scrutiny. The implication is a need to codify review standards and accountability practices for deliverables, as automated AI output can no longer serve as a market differentiator, and clients now have both the suspicion and means to probe the origins of documents. Differentiation will shift toward the ability to transparently describe, defend, and consistently execute meaningful human review and oversight—not merely the ability to generate professional-looking outputs. Providers who cannot articulate and document their review process may find themselves commoditized or excluded from competitive evaluations. 00:00 The Mark Arrives Everywhere  03:11 A Test That Can't Come Back No 06:38 Nobody Can Answer With the File 09:24 Why Do We Care?    Supported by:  OpenText Guardz 

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

My guest today is Ben Thompson, the founder and author of Stratechery. Ben is one of my favorite business thinkers and I love talking to him about everything happening in markets and technology.  We go through every important company, including OpenAI, Nvidia, Intel, Apple, Microsoft, Google, and Amazon. We also discuss why he thinks it would be dangerous for the United States to win the AI race outright, what container shipping and the railroads of the 1870s tell us about the buildout, and why the binding constraint on all of this may be capital rather than compute.  Please enjoy my conversation with Ben Thompson. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:16) Winning the AI Race With China (00:08:28) Timing, Capital, and the Railroads (00:11:34) Berkshire, Google, and Absolute Profits (00:14:23) Verifiable and Unverifiable Domains (00:20:20) Aggregation Theory in the AI Era (00:22:06) The Real Cost of Inference (00:25:40) Why Consumer AI Needs Advertising (00:30:08) Compute Shortages and Commodity Markets (00:35:46) Memory Cycles and Boom Bust Dynamics (00:42:08) TSMC, Intel, and Where Risk Goes (00:44:51) The Best Setups in Big Tech (00:52:14) The Frontier Model Contenders (00:54:27) Microsoft's IBM Playbook (01:00:45) Meta, Attention, and Advertising (01:07:29) NVIDIA, Commodities, and Power

Glenn Solomon of Notable Capital joins Nick to discuss 3 Multi-Billion-Dollar Exits in 1 Year, Lessons from Airbnb, HashiCorp, Slack, and Square, The VC Case for Staying Small, and the Battle Between Open-Weight vs. Closed Models. In this episode we cover: Identifying Unique Investment Opportunities  The Impact of Fund Size on Investment Strategy  Challenges of Overfunding and Market Dynamics  Growth and Real Success in the AI Era  The Role of Hyperscalers and Frontier Labs  Public Market Sentiment and IPO Considerations  Future of Venture Capital and Notable's Strategy Investing in Anthropic and Market Dynamics  Guest Links: Glenn's LinkedIn Glenn's X Notable's LinkedIn Notable's Website The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

What I learned from rereading Bob Dylan's autobiography. Made possible by: Ramp: ⁠⁠https://ramp.com⁠⁠ Applovin: ⁠⁠https://www.applovin.com Vanta: ⁠⁠https://vanta.com/founders

Are your ski boots holding you back from the performance your skis are capable of? In this episode I sit down with Master Boot Fitter Brent Amsbury to break down everything you need to know about plug boots — the type of ski boot most top level technical skiers are wearing.Brent is a Master Boot Fitter at Park City Ski Boot in Park City, Utah, where he sets up plug boots for racers, instructors, and high-performance skiers. If you're chasing higher carve scores, driving race skis, or pushing toward your highest instructor certification, this conversation will save you a lot of trial and error.We cover: • What a plug boot actually is and who it's really for • Why they're called “plug” boots (the internal construction explained) • Forward lean, cuff height, and why these boots feel so much more powerful • Ramp angle adjustability and why most racers reduce it • The thick sole and torsional rigidity that sets plug boots apart • Why plug boots are a “project in a box” — not a boot you just heat mold and go • The best time of year to buy (and why waiting until the season starts is a mistake) • Pricing, and how to get into a great plug boot for a fraction of retail • Longevity — how many days you can actually get out of one • Brand-by-brand differences: Lange/Rossignol, Head, Atomic, Fischer, Nordica/Technica, Dalbello • Fitting advice for wide, low-arch, or fleshy feet • How to choose your flex (110 vs 130 vs 140+) • How manufacturers actually create different flex ratings • Junior and shorter-cuff options • Why heated socks or boot heaters are non-negotiable in these boots • Why the pain isn't mandatory — proper fitting makes these boots comfortable • DIY boot work vs. working with a fitter⛷️ Enjoyed this podcast? Frustrated with staying at the same level of skiing for the past few years? To change your skiing you need a systematic approach that covers all aspects of skiing. That's exactly why I built my learning platform, Big Picture Skiing. It's not this YouTube channel, it's where skiers go to find more than just tips. If you are ready to finally take your skiing to the next level go to www.bigpictureskiing.com Podcast listeners get 20% off using code PODCAST. So why wait when you could be getting started today. Chapters:0:00 Intro1:54 What is a plug boot & who's it for4:23 Why it's called a "plug" boot5:33 Forward lean, cuff height & power vs. freeride boots7:01 Ramp angle & boot board adjustability8:05 Thick sole, torsional rigidity & weight9:45 Plastic type & retail price ($1,000-$1,300)10:26 It's a "project in a box"12:53 Checking flatness out of the box13:32 Cuff canting, liners & fine-tuning15:42 Best time of year to buy17:18 Pricing & buying older/discounted models20:21 Lifespan, durability & upgrading liners21:06 Brand differences (Lange, Rossignol, Head, Atomic, Fischer, Nordica, Technica, Dalbello)25:01 Fitting for low arch or wider feet27:04 Grinding, shaping & sizing tips28:56 Choosing your flex (110 vs 130 vs 140+)30:15 How flex ratings are actually made31:50 Junior & shorter-cuff options32:44 Wrap-up: which route to take33:19 Heated socks & boot heaters34:16 Plug boots don't have to be painful35:03 DIY boot work vs. going to a fitter36:26 Find Brent / Park City Ski Boot37:17 Leave your local boot fitter recommendation38:19 OutroAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Watch ADS-FREE: https://podcasts.apple.com/us/channel/djamgamind/id6760446113Visit our Research Hub at https://djamgamind.com/pdfsImportant Topics:* OpenAI Previews Ultrafast on GPT-5.6 Sol: A Cerebras-powered API tier speeds answers by up to 14x, reaching 750 tokens per second. On Humanity's Last Exam, Sol with Ultrafast finished 2,500 questions in 11 hours versus 78 for Fable at comparable results. Invite-only preview, no listed price; the partnership committed 750MW of Cerebras compute in January.* Anthropic's Agents Wage a Turf War: Three hidden Claude co-owners of one codebase, each assigned a rewrite in a different language, escalated into four hours of sabotage. One agent's software impersonated a rival's to fool a monitoring program; others locked competitors out. Peace, where it emerged, often required a call for human backup.* Apple Builds a China-Specific Model with Alibaba: Apple developed a tailored LLM for China using Alibaba's Qwen alongside Baidu technology, registered with the Cyberspace Administration, expected to ship with iOS 27 -- potentially the only Western firm authorized to offer proprietary AI in China.* Zhipu Releases GLM-5.3: The Chinese startup claims the most powerful open-weights coding model, outperforming OpenAI on agent-based coding benchmarks. The system identified 2,436 software vulnerabilities across 269 projects. Weights go open source after a two-week security review.* Google Ships Gemini 3.7 Flash: Google's new "workhorse" model holds pricing flat at $0.75 input / $3.75 output per million tokens while gaining 10-15 percentage points on FrontierCode 1.1 Main and DeepSWE v1.1, and 12 points on the GDP.pdf document benchmark.* Ramp Data: Enterprises Reject the Frontier: Anthropic leads adoption at 43.5% of Ramp's U.S. business clients, but only 6% of their token spend goes to Fable 5. GPT-5.6 Sol takes 25% of token usage among OpenAI customers. Open-source and Chinese models rise to 6.1% of AI-spending customers; xAI hits 4% on its fastest growth month since July 2025.* Android Pivots From Apps to Agents: Android ecosystem president Sameer Samat describes the shift from manual app navigation to agent-based systems, spanning phones, computers, cars, watches and glasses, plus a new voice-to-text keyboard called Rambler.* WhatsApp Tests On-Device Scam Detection: On-device AI flags suspicious conversations from unknown contacts with warnings invisible to the sender.* Trump Signs 100% Drone Tariff: Imported drones over 55 pounds with security-sensitive capabilities face a 100% tariff; smaller drones 25%. Effective within 21 days.* Google Ordered to Ease Rival App Installs: Judge James Donato ordered Google to strip extra confirmation screens blocking alternative Android app stores within one week.

Operation Midnight Hammer through the eyes of the people who flew it. "Smalls" commanded the 55th Fighter Squadron, and "Scar" was one of the F-16 pilots who helped plan and execute the mission. They are the Wild Weasels who flew Suppression of Enemy Air Defenses ahead of the B-2 strike on Iran. Watch the three-part documentary series on Afterburn Defense: Part I: https://youtu.be/MgQ_X3Td8a4 Part II: https://youtu.be/GzdL6NMYDso Part III: https://youtu.be/Xc22-2RaGSY This is the full interview. Both of them flew the mission. In this conversation, they talk about what it means to command a squadron and fly in the same formation, the moment a squadron commander has to let his wingmen push ahead of him, the mechanical failure one of them handled over hostile territory, and what they told their families before they left. Before Iran, the 55th Fighter Squadron fought over Yemen in Operation Rough Rider, a sustained air campaign against Houthi surface-to-air threats. What they learned there is the reason the F-16 Block 50 and the AGM-88 HARM were part of the strike package on June 21st, 2025. These interviews were recorded between December 2025 and January 2026 and preserve firsthand accounts from pilots, maintainers, intelligence officers, and logistics airmen who were there. 0:00 Taking Command of the 55th Fighter Squadron 3:25 The Deployment That Became Something Else 8:33 Shooting Rockets at Drones From an F-16 12:12 Commanding a Squadron in Combat 23:16 Realizing the Threat Was Real 29:34 The Weight of Sending People Out 40:04 From Rough Rider to Midnight Hammer 43:45 Letting My Wingmen Go In First 49:55 Learning About the Iran Mission 54:51 The Phone Call That Changed Everything 1:09:25 The Helmet Mix-Up on the Ramp 1:18:26 Tanker Frequencies and Marshal Delays 1:26:13 Employing Over Iranian Airspace 1:34:02 Compressor Stall Over Enemy Territory 1:39:19 Crossing the Line Back 1:42:22 What They Told Their Families Have a story? Want to Connect? Advertise? https://theafterburnpodcast.com/contact/

On this special segment of The Full Ratchet, the following Investors are featured: Larry Cheng of Volition Capital Ben Black of Akkadian Ventures and Powerlaw Corp Mark Peter Davis of Interplay We asked guests to tell the most important lesson they've learned in their career. The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

My guest today is Eric Vishria, a General Partner at Benchmark.  Eric has spent his career in software and cloud, and few people know the history of these markets as well as he does. What makes him special is his ability to use that history to make sense of today.  We discuss what the rise of AWS teaches us about AI, what he has learned from investing in Fireworks, Sierra, and Cerebras, and how the criteria for winning have changed for founders and investors.  Please enjoy my conversation with Eric Vishria. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:20) Learning the World Through Fireworks (00:05:42) AWS Was Going to Eat Everything (00:07:40) The Zero-Sum Thinking Trap (00:09:01) Comparing Cloud and AI Adoption (00:11:03) Becoming Enterprise's AI Sherpa (00:13:05) Building Sandcastles (00:14:55) The Return to Being Technical (00:17:13) The Shifting Competitive Frontier (00:22:10) Why the Old Playbook Fails (00:27:53) Energy as the Binding Constraint (00:29:38) The Cerebras Story (00:37:57) The Virtue of Productive Naivete (00:39:19) What Robotics Still Needs (00:45:58) What Makes a Great Board Partner (00:51:13) Raising A Growth Fund (00:55:39) What the Big Winners Taught Him (00:57:37) Hard Work Versus the Hole-in-One (00:58:38) The Best Reasons to Go Public (01:01:09) Debates Inside Benchmark (01:02:16) What If It All Works (01:03:35) What Geoff Hinton Got Wrong

As geopolitical volatility continues to disrupt energy markets and maritime trade routes, global supply chains face prolonged uncertainty. Intermittent closures of the Strait of Hormuz highlight the brittle nature of global energy systems and the growing necessity for long-term strategic adaptation. In this episode of the Frontlines podcast, host Shaun Haney is joined by geopolitical... Read More

Welcome back to the Bar Exam Toolbox podcast! This episode is part of the series in which we illustrate the shift from MBE to NextGen multiple-choice questions. Today we're walking through four questions on criminal law and procedure, related to search and seizure. Join Lee and practice multiple-choice questions in the classic MBE style and the new NextGen format. In this episode, we discuss: Question 1: Search warrant exceptions (MBE) Question 2: Search and seizure (MBE) Question 3: Search and seizure (NextGen) Question 4: Issue-spotting (NextGen) Study tips for multiple-choice questions RAMP study tool Resources: RAMP: Adaptive Bar Exam Prep (https://barexamtoolbox.com/what-is-ramp-bar-prep/) Illinois v. Wardlow (https://supreme.justia.com/cases/federal/us/528/119/) Podcast Episode 141: Listen and Learn – The Fourth Amendment (https://barexamtoolbox.com/podcast-episode-141-listen-and-learn-the-fourth-amendment/) Podcast Episode 154: Listen and Learn – The Exclusionary Rule (Criminal Law and Procedure) (https://barexamtoolbox.com/podcast-episode-154-listen-and-learn-the-exclusionary-rule-criminal-law-and-procedure/) Podcast Episode 173: Listen and Learn – Criminal Procedure: Warrant Requirements (https://barexamtoolbox.com/podcast-episode-173-listen-and-learn-criminal-procedure-warrant-requirements/) Podcast Episode 220: Listen and Learn – Exceptions to the Warrant Requirement (https://barexamtoolbox.com/podcast-episode-220-listen-and-learn-exceptions-to-the-warrant-requirement/) Download the Transcript (https://barexamtoolbox.com/episode-355-listen-and-learn-mbe-vs-nextgen-multiple-choice-criminal-law-and-procedure/) If you enjoy the podcast, we'd love a nice review and/or rating on Apple Podcasts (https://itunes.apple.com/us/podcast/bar-exam-toolbox-podcast-pass-bar-exam-less-stress/id1370651486) or your favorite listening app. And feel free to reach out to us directly. You can always reach us via the contact form on the Bar Exam Toolbox website (https://barexamtoolbox.com/contact-us/). Finally, if you don't want to miss anything, you can sign up for podcast updates (https://barexamtoolbox.com/get-bar-exam-toolbox-podcast-updates/)! Thanks for listening! Alison & Lee

This week, Alex is joined by the king of the off-meta and Marvel Snap content creator: Bynx! The duo kicks things off with another massive reminder—The Snap Chat is hosting a live, in-person show at PAX West in Seattle on Friday, September 4th at 3:00 PM!After the announcements, Alex and Bynx dive deep into the brand-new "Fractured Frontier" meta. They discuss why the game feels incredibly open following the Mother Askani nerfs, and debate whether the massive 36% play rate of Thanos (Fractured Frontier) is healthy for the game (spoiler: they both agree he might be the most fun card Second Dinner has ever designed).Next, it's time for a massive batch of new card reviews:Thanos (Fractured Frontier): A unanimous 5-star rating. The hosts break down the insane skill expression, the power of Quick Draw triggers, and the incredible synergy with the newly buffed 3/6 Crystal.Jane Foster (Fractured Frontier): A powerhouse 3-Drop with a massive ceiling (3/12), but Binks vents about the frustrating RNG of her targeted buffs.Psylocke (Fractured Frontier): Why this high-ceiling cost-reducer is currently being jammed into the wrong decks, and how she could revolutionize Ramp and Combo archetypes.Red Wolf: Is this new 2/1 scaler the next Chamber? Alex and Bynx break down his incredible synergy with traditional Thanos shells and predict a potential rework for Mad Thinker.Join Alex Coccia and special guest Bynx as they chat about this and more on this episode of The Snap Chat—and catch Cozy and Alex every week as they discuss all things Marvel Snap.Have a question or comment for Cozy and Alex? Send them a Text Message.You've been listening to The Snap Chat. Keep the conversation going on x.com/ACozyGamer and x.com/AlexanderCoccia. Until next time, happy snapping!

In this episode, Lex chats with Srini Krish — Co-Head of Financial Solutions at Fiserv, one of the original fintechs, in business for nearly five decades and sitting at the intersection of commerce and banking. Lex and Srini discuss how Fiserv acts as the technology backbone for 5,000+ US banks and credit unions that lack the wherewithal to match JPMorgan or Wells Fargo on their own, and how the firm is packaging AI into that distribution layer through Agent OS and partnerships with OpenAI and Anthropic. Srini lays out his four-bucket framework for enterprise AI - better client service, internal productivity, AI embedded in products, and a platform banks can use to build their own agents - and explains why money demands deterministic outcomes rather than probabilistic guesses, keeping a human in the middle as commercial loan underwriting compresses from weeks to hours. They explore the competitive race against challengers like Mercury and Ramp, the mainframe that has outlived thirty years of obituaries, and where power sits between the AI labs and their distribution channels once inference commoditizes. NOTABLE DISCUSSION POINTS: MIPS became tokens. Srini frames the whole AI shift through continuity: engineers once measured effectiveness by MIPS consumed and how often they compiled code; today the metric is token consumption. Same discipline of doing more with minimal resource, thirty years apart. Money forces determinism. Probabilistic outputs are fine for many tasks but unacceptable for balances - a figure 1% or 5% off is a failure, it has to be right every time. So Fiserv's Agent OS rollout starts with non-real-time, human-in-the-middle use cases and only graduates toward autonomy and eventually customer-built agents. It's a crawl-walk-run path, and Fiserv says it's clearly still crawling. The moat is distribution, not model access. Fiserv's 5,000+ banks and credit unions can't engage OpenAI or Anthropic directly at scale, so Fiserv becomes the platform that packages agentic workflows - turning commercial loan decisions from a multi-week process into hours, with the auditability and observability those institutions could never build alone. TOPICS Fintech, Fiserv, EmbeddedFinance, AgenticAI, EnterpriseAI, Banking, Payments, DigitalBanking, CommunityBanks, FinancialInfrastructure, AIAgents, OpenAI, Anthropic, ClaudeCode, JPMorganChase, FirstData, Mercury, Ramp, Plaid   ABOUT THE FINTECH BLUEPRINT

One year ago, Alec Kremins got fired. Same week he found out his wife was pregnant with their first child. He had a choice: go find another stable job, or bet on himself.He went all in.Alec built his career at Ramp (now valued near $40B) before making Aliyah and eventually going out on his own. In this episode we get into why he tells most people not to start a company, even though it was the right call for him.We cover:The day he got let go, and the decision that followedWhy he thinks life is about meaning, not comfort, and the Lubavitcher Rebbe story about the "contract" nobody signed promising an easy lifeThe Histadlus/Bitachon dance and why it gets a lot harder when you're working for yourselfWhether your work should be part of your identity, or just what funds itA surprising parallel between starting a company and childbirth (his words, not ours)Why he actively discourages most people from starting their own thingBuilding a personal brand without losing your Shabbos, your learning, or your sanity to the algorithmWhere AI actually fits in content creation, and where it doesn't touch the core at allAlec Kremins is the founder of RallyUp. You can find him on LinkedIn.

Claude Shannon changed your life and you probably don't even know it. Claude is the father of information theory. He transformed information into bits and created the intellectual foundation for computers, the Internet, digital media, high-speed communication, and Artificial Intelligence. The way Claude Shannon worked is what interested me the most. He combined extraordinary abstract reasoning with an engineer's instinct to build. He reduced complex problems to their essential structure. He connected ideas across mathematics, engineering, cryptography, artificial intelligence, investing, chess, juggling, and robotics. He treated every experience as material that he might later combine into a new insight. He was also relentlessly independent, guided more by curiosity and freedom than recognition, money, or usefulness. This episode is what I learned from rereading A Mind at Play: How Claude Shannon Invented the Information Age by Jimmy Soni and Rob Goodman. Made possible by: Ramp: ⁠⁠https://ramp.com⁠⁠ Applovin: ⁠⁠https://www.applovin.com Vanta: ⁠⁠https://vanta.com/founders 0:00 — "The great insights don't spring from curiosity alone, but from dissatisfaction... A genius is simply someone who is usefully irritated." 1:36 — "It seems to be much easier to make two small jumps than one big jump in any kind of mental thinking." — Shannon 4:41 — "He was a man almost entirely written out of a history that's defined by self-promoters. His was a life spent in the pursuit of curious, serious play." 5:20 — "He worked with levity and played with gravity. He never acknowledged a distinction between the two." 6:00 — "Geniuses are the luckiest of mortals because what they do is the same as what they most want to do." 6:59 — "I do what comes naturally, and usefulness is not my main goal. I keep asking myself, 'How would you do this? Is it possible to make a machine to do this? Can I prove this theorem?'" — Shannon 11:50 — "Chemistry always seemed dull to me. There's too many isolated facts and too few general principles for my taste." — Shannon 19:09 — "Specialization is the death of genius." — Vannevar Bush 19:18 — "The possibilities of being at once both broad and deep did not pass with Leonardo da Vinci or Benjamin Franklin." — Vannevar Bush 25:13 — "I had the freedom to do anything I wanted from almost the day I started. They never told me what to work on." — Shannon on Bell Labs 26:41 — "I've been working on three different ideas simultaneously, and strangely enough, it seems a more productive method than sticking to one problem." — Shannon 32:55 — "My fondest dream is to someday build a machine that thinks, learns, communicates, and manipulates its environment in a fairly sophisticated way." — Shannon 35:05 — "Before Shannon, information was a telegram, a photograph, a paragraph, a song. After Shannon, information was entirely abstracted into bits." 38:04 — "After the effort of discovery, the effort of communication was secondary by far. He had solved a problem to his own satisfaction, and that, as far as he was concerned, was enough." 40:55 — "I've spent lots of time on totally useless things... He made no distinction between his interest in information and his interest in unicycles. They were all moves in the same game." 46:54 — "Shannon seemed to think with ideas more than with words or formulas. A new problem was like a sculptor's block of stone, and Shannon's ideas chiseled away the obstacles until an approximate solution emerged." — Ed Thorp 47:19 — "I simply removed everything that was not David." — Michelangelo 47:25 — "I don't think I was ever motivated by the notions of winning prizes. I was more motivated by curiosity, never by the desire for financial gain. I just wondered how things were put together." — Shannon 47:49 — "I think the history of science has shown that valuable consequences often proliferate from simple curiosity." — Shannon 48:37 — "The important people and events of history are the thinkers and innovators, the Darwins, the Newtons, the Beethovens, whose work continues to grow influence in a positive fashion." — Shannon

Back-to-school season is often presented as an exciting fresh start—but for neurodivergent children, AuDHD families, parents, and educators, the first bell can feel more like a full-body nervous-system event.In this episode of Authentically ADHD, Carmen explores how the transition back to school can affect autistic and ADHD children through sensory overload, executive dysfunction, anxiety, disrupted sleep, social demands, changing routines, and emotional dysregulation. A child may be excited about school while also feeling overwhelmed by unfamiliar teachers, noisy cafeterias, uncomfortable clothing, abrupt transitions, new expectations, and the pressure to appear calm and compliant.Carmen explains why intelligence and access are not the same thing, why children may successfully complete a task one day but struggle with it the next, and why behavior that looks like defiance, refusal, or attention-seeking may actually be communication from an overloaded nervous system.Listeners will learn the RAMP framework for supporting neurodivergent students:* Reduce uncertainty* Adjust the demand* Make support visible* Plan for recoveryThe episode includes realistic back-to-school examples, practical classroom accommodations, sensory regulation strategies, visual supports, transition tools, after-school decompression ideas, and communication scripts for parents, teachers, paraprofessionals, and school administrators.It also addresses autistic masking, after-school restraint collapse, school refusal, sensory processing differences, working-memory overload, emotional regulation, teacher burnout, parent-school communication, and the importance of repairing with children when adults misunderstand their behavior.Because a successful school year is not one where a neurodivergent child causes the least disruption. It is one where the child feels safe, supported, understood, and able to learn without abandoning themselves.Children should not have to fall apart before adults believe that something is difficult. They should not have to hide their disability, suppress their sensory needs, or perform calmness to earn belonging.Sometimes the child does not need another consequence, sticker chart, or lecture about making good choices.Sometimes they need adults willing to get curious, reduce the barriers, and build the damn ramp.Thank you for tuning in! This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit carmenauthenticallyadhd.substack.com/subscribe

On this special segment of The Full Ratchet, the following Investors are featured: Grant Demaree of Onebrief Steve Blank of the Gordian Knot Center for National Security Innovation Mark Peter Davis of Interplay We discuss major conflicts that guests have faced and how they resolved them. The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

All links and images can be found on CISO Series Check out this post for the discussion that is the basis of our conversation on this week's episode co-hosted by David Spark, the producer of CISO Series, and Dan Walsh, CISO, Datavant. Joining is our sponsored guest, Elizabeth Nammour, founder and CEO, Teleskope. In this episode: Data ownership before automation A shared vocabulary for agent risk Maturing from crawl to run Trust earns automation its place A huge thanks to our sponsor, Teleskope Most DSPMs stop at finding the risk. Teleskope fixes this: it automatically finds sensitive data, including IP documents or board decks, and remediates exposure across cloud, SaaS, and AI environments natively, with human-in-the-loop controls, improving your team's efficiency tenfold. Trusted by Ramp, Polymarket, and Chevron Phillips, and more. teleskope.ai  

This episode is sponosored by Hulu. Stream PRISON BREAK on Hulu in the U.S. and Disney+ Internationally. Sarah Wayne Callies and Paul Adelstein compare this episodes' stealthy Scylla-heist set pieces to Entrapment and Mission: Impossible, including trivia that the Mission: Impossible theme rhythm spells “M-I” in Morse code. They praise director Kevin Hooks' dynamic camera movement and staging, note the episode's original airdate (Nov. 17, 2008) and 5.5 million live viewers, and touch on 2008 music news (AC/DC's Black Ice; CMA and AMA winners). Their deeper conversation focuses on Michael's worsening brain tumor and the confusing logic of him avoiding the hospital while still doing intense physical work, plus “honeypot” seduction tactics failing for Gretchen (and earlier for Sara) but working better as a long con for Trishanne, leading into thoughts on Gretchen's trauma bond with the General. They also discuss gamma knife surgery, speculate whether the tumor storyline functioned as a possible behind-the-scenes “exit ramp” for Michael/Wentworth Miller while still serving the drama, and answer fan questions about Sara's evolving bond with Lincoln and whether Michael's refusal of surgery hurts Sara or reflects his stubborn hero complex. For the full experience of enjoying Prison Breaking With Sarah & Paul, subscribe to our Patreon channel where you can watch Sarah & Paul's running commentary on Ep 306 while re-watching the episode on Hulu or your home DVD collection. You can also watch in a group with other fans on our fan-led Discord server. Subscribe here: ⁠⁠⁠⁠https://patreon.com/user?u=116411884⁠⁠⁠⁠ -or- Click Link in Bio Patreon Subscribers get access to all of our Watch Parties and FanFiction (all captioned in six languages - English, French, Spanish, German, Portuguese, and Turkish), exclusive Ask Me Anything's with Sarah & Paul, and unannounced Discord drop-ins on our always rollicking server with fans and friends who come together from around the world. All for less than a cup of coffee. Leave us your comments, shoot us an email, or leave us a voicemail - we love hearing from all of you! prisonbreaking@caliber-studio.com (401) 3-PBREAK Watch the episode on YouTube - / @prisonbreakpodcast Follow us on Instagram - / prisonbreakpodcast Follow us on TikTok - / prisonbreakpodcast Merch!!! - https://pbmerch.printify.me/products #fyp #michaelscofield #saratancredi #michealscofield #prisonbreakedits #prisonbreak #wentworthmilleredits #wentworthmiller #editor #fyy #fyppp #saratancrediedit #prisonbreakseason1 #sarahwaynecallies #prisonbreakseason2 #scofield #fy #sarascofield #saratancrediedits #scofield Logo design by John Nunziatto @ Little Big Brands. If you want one yourself, reach out at https://www.littlebigbrands.com/ and tell him we sent you. PRISON BREAKING WITH SARAH & PAUL is a Caliber Studio production. Learn more about your ad choices. Visit megaphone.fm/adchoices

My guest today is Gavin Baker, founding partner and CIO of Atreides Management. This is our seventh conversation, and just two months after Gavin's last appearance. It's about the gap between what the market is doing and what companies are seeing. It's been a tough month or so for public AI names, but there's no sign of a slowdown on the ground in Silicon Valley. We discuss the latest moves, contracted vs. spot GPU prices, the game theory of memory supply agreements, and why Claude has become the Walter Cronkite of the stock market. We close on SpaceX, orbital compute, and what Gavin sees as the single biggest risk to all of it. Please enjoy this conversation, from the famous table at Benchmark, with my friend Gavin Baker. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest.  ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgeline.ai. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:35) First Question: July Was 2022 in a Month (00:04:08) The Private Companies Public Markets Can't See (00:05:06) Old GPUs Repricing Higher (00:06:53) Walking Through the Month (00:08:22) Kimi, GLM 5.2 & the Open Source Freak-Out (00:10:51) Real Yields, Spreads & CDS (00:11:54) Does the Build-Out Need Credit? (00:15:22) A Sell-Off With No Clear Villain (00:17:35) Open Source as Dark Matter (00:18:39) Nvidia's Lowest Forward PE in 10 Years (00:21:35) Claude as Walter Cronkite for the Stock Market (00:23:55) Continual Learning & Sample Efficiency (00:25:19) What Would Actually Scare Him (00:26:38) Routers & the Multi-Model Future (00:30:51) Tokens as a Percent of Comp Spend (00:33:37) The Game Theory of Breaking an LTA (00:36:41) Nvidia's Credit Wrapper & Revenue Share (00:37:45) What He'd Do If He Ran Hynix (00:41:46) Who's More Bullish than Him (00:43:28) China's DUV Machine (00:46:10) Bull Case for Software (00:48:16) The RSI Maximalist View (00:49:31) Inference Clouds Growing Without Burning Cash (00:50:35) The Biggest Risk Is Regulation (00:53:44) Telling the Story Better (00:57:15) Dark Horses (00:58:02) SpaceX in the Public Markets

Mark Peter Davis of Interplay joins Nick to discuss AI's Effect on the Demand Curve, Investing in Durable Barriers, Large Cap vs. Small Cap Seed Deals, and Building an Internal AI Machine. In this episode we cover: AI's Role in Interplay's Operations Investment Strategy and Early Signals Impact of AI on Software and Venture Capital Job Displacement and New Opportunities Barriers and Durability in Software Companies Challenges for Traditional Growth Companies AI Native Services and Market Segmentation Guest Links: Mark Peter Davis's LinkedIn Mark Peter Davis's X Interplay's LinkedIn Interplay's Website The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter

Raymond Plank founded Apache Corporation with just $250,000 in 1954. 50 years later his company was worth $50 billion. This episode examines the life and entrepreneurial philosophy of Raymond Plank through his memoir A Small Difference Rather than presenting a conventional history of Apache, this episode focuses on the lessons, maxims, and beliefs Plank accumulated over seven decades in business. Written when he was nearly 90, the memoir reads like a lifelong diary of how to think about opportunity, courage, cost control, resourcefulness, and adaptation. Lots of wild stories in this one. Made possible by: Ramp: ⁠⁠⁠https://ramp.com⁠⁠⁠ Applovin: ⁠⁠⁠https://www.applovin.com⁠ Vanta: ⁠⁠⁠https://vanta.com/founders⁠ ⁠Add your email here⁠ and I will send you my top 10 quotes from every episode: https://davidsenra.substack.com

On this special segment of The Full Ratchet, the following Investors are featured: Steve Blank of the Gordian Knot Center for National Security Innovation Grant Demaree of Onebrief Larry Cheng of Volition Capital We asked guests to discuss the most visionary founder that they've worked with and what makes them so special. The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

My guest today is Sam Altman, CEO of OpenAI. It's a conversation spanning the history, present, and future of OpenAI, from the origin of ChatGPT through Codex, hardware, and their new Jalapeno chip. We discuss the early decision to buy compute at a scale nobody thought was rational, and the plan to build a gigawatt of new capacity every week.  We talk about Kimi and distillation, the Hugging Face incident and what it means for the pace of AI development, and what it's like to raise kids who will grow up never knowing a world without abundant intelligence.  Please enjoy my conversation with Sam Altman. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:02) Intro: Sam Altman, CEO of OpenAI (00:02:35) Refocusing (00:05:43) OpenAI's Compute Bets (00:09:07) Data Centers (00:11:14) Jalapeno Chip (00:11:52) Kimi, Distillation & Open Source (00:14:39) The Hugging Face Incident (00:17:46) OpenAI's Mission & Vision (00:22:14) All the Returns Are at the Frontier (00:22:27) Bottlenecks: Compute, Research, Data (00:23:49) Sam's View on AI & Jobs (00:26:56) Unpopular Bets That Turned Out Right (00:27:45) Model Cycles (00:29:45) How Sam Uses AI (00:32:44) Having Kids (00:34:56) Why Sam Has No Equity in OpenAI (00:35:33) Robotics (00:36:48) The Origin Story of ChatGPT (00:39:22) How to Get AI into More Hands (00:42:20) How Sam Recruited Great AI Researchers (00:43:57) What Sam Learned From Being an Investor (00:45:22) What the Next 6–36 Months Look Like (00:46:31) Codex (00:49:36) Could We Be Oversupplied in Compute in Two Years? (00:50:09) Sam's View on Scaling Laws (00:50:20) Alec Radford (00:51:12) Formative Moments (00:53:50) Kindest Thing

Double Tap Double Tap - Ep 472 July 27, 2026 Presented by This episode of Double Tap is brought to you by: Foxtrot Mike (Code: WLSISLIFE) Gideon Optics (Code: WLSISLIFE) Flatline Fiber Co (Code: WLS15) Second Call Defense Bowers Group (Code: WLS) Giveaways!! GAW   Text Dear WLS or Reviews +1 743 500 2171 Public   Show Titles   GOA GOALS Aug 1-2 in Iowa. https://goals.goa.org/ Dear WLS Question from Anonymous Coward from NEBRASKA Quick question. From me. With printed holsters thinking of getting one. So which model of bambu should I be looking at? Also do I need AMS? I am cheap so probably only 2 models I am seeing so comes down to do I need or want the enclosed one. Question from Alex W. from Florida Dear WLS: Hey y'all. If all of our hopes and dreams were to come true and we could get mail order machine guns to our doors, what (other than boatloads of fun) do you think the most valid use for civilian full auto is? I was thinking maybe a select fire/burst fire subgun for home defense? Belt feds on pigs? Alex W. Question from Dependable Don from New York Dear Wls Dependable Don Why don't you just invite Lenny on so the Jeremy could just point to him when he he needs the needs a n bomb dropped? Question from Rob K from Connecticut Rob K From ConnecticutDear WLS The State of Connecticut has banned Glock and Glock style pistols starting on October 1st 2026. I don't own one, but now that the state is telling me I can't buy one, I need to spite purchase. I'm interested in picking up 2 Glock models and 2 Glock style pistols. If you were only able to own 2 Glocks, what would your suggestions be for gen and model? Also, what make and model of 2 Glock style pistols. Thanks guys. #stuckbehindenemylines WINNER Question from Travis from ILLINOIS Dear WLS this is Travis from not the people's republic of Illinois. Love the show you and all the content. Shawn over the past few shows you have mentioned your Kelby rifle. What do you like and not like. Would you do anything different. I personally don't know anyone who owns one and looking to purchase one for potential PRS matches. Thanks Travis Question from Anonymous Coward from Florida Dear WLS: Hey y'all. I was thinking, with the growing apparent popularity of “pdw” setups for pistols, I was wondering why no manufacturer seems to produce a factory firearm that fits that sort of form factor (other than sig selling factory 320's already in a raider chassis). The closest things I can think of currently would be the B&T TP9 or their USW. But I'm wondering why no one else is tapping into the whole oversized 9mm pistol with a brace/stock market trend. Has the industry just not caught up or is there a reason companies are not moving in that direction? Gun Industry News Guns CMP to Sell Military Surplus M14 Rifles The Civilian Marksmanship Program (CMP) announced it will sell a limited number of surplus U.S. military M14 rifles (7.62 NATO) produced 1959-1965 by H&R, Springfield Armory, TRW and Winchester. The rifles, from the total production run of 1.38 million, have been permanently modified to semi-automatic configuration to comply with ATF regulations and CMP enabling legislation for .30-caliber rifles. Sales are expected to use a lottery system and begin in late 2026 to early 2027. The Gist: Sales begin late 2026 to early 2027 via lottery system Bottom Line: Limited surplus M14 rifles (7.62 NATO) permanently converted to semi-auto; produced 1959-1965 with total output of 1.38 million; background includes 479,000 demilled and 321,000 provided as military aid Shootingnewsweekly Ramp Payment Processor Shows Inconsistent Policy Toward Gun Industry Payment processor Ramp denied services to Kent Cartridge Company in West Virginia, citing partner risk concerns, as highlighted in an NSSF report on industry discrimination. Simultaneously, Ramp has been actively courting Davidson's Inc. in Arizona with business development emails as recently as July 22, 2026. West Virginia Governor Patrick Morrisey and Attorney General JB McCuskey are investigating, noting potential violations of the state's FIND Act, a Trump executive order on fair access to banking, and OCC/FDIC rules prohibiting discrimination against lawful firearm businesses. The Gist: The Gist: Ramp denied payment processing to Kent Cartridge (WV) after NSSF discrimination report but sent ongoing outreach emails to Davidson's Inc. (AZ) as of July 22, 2026; state officials investigating for violations of WV FIND Act, Trump EO, and federal banking rules. Impact: Market Impact: Affects firearm and ammunition manufacturers and retailers seeking reliable payment processing; creates uncertainty for gun industry businesses in states with protective laws. Bottom Line: The Bottom Line: Demonstrates ongoing de-banking pressures on the firearms sector despite legal protections designed to ensure equal access to financial services for lawful industries. Breitbart Dan Wesson DWX Compact 9mm Pistol The Dan Wesson DWX Compact is a metal-framed 9mm pistol that blends design aspects of the CZ 75 and the venerable 3631. It features an aluminum frame, optics-ready slide, AmeriGlo tritium front sight with black rear, aluminum grips, accessory rail (available with or without), and ships with 10- and 15-round magazines. The article highlights its smooth action, excellent trigger, tight groups, and suitability as a real-world everyday carry self-defense pistol after testing over 1,100 rounds. Bottom Line: Key specs/features: 9mm caliber; 10- and 15-round magazines; aluminum frame providing heft; optics-ready; AmeriGlo tritium front sight, black rear sight; accessory rail (optional); aluminum grips; smooth DA/SA action with superb trigger; blends CZ 75 and 3631 characteristics for precision and durability Thefirearmblog Smith & Wesson M&P15 AXE Pistol and SBR in .300 Blackout Smith & Wesson has expanded its M&P15 line with the M&P15 AXE Pistol and corresponding SBR variant chambered in .300 Blackout. Both models feature an 8″ 5R rifled barrel with Armornite finish, GVAC direct impingement gas system optimized for suppressed shooting, 7″ Midwest Industries M-LOK handguard, enhanced BCG, Radian Raptor ambidextrous charging handle, and full ambidextrous controls. The pistol uses a Magpul BTR arm brace while the SBR includes a Magpul CTR stock and Williams folding sights. The Gist: Announced July 21, 2026; availability not explicitly stated beyond launch Bottom Line: Caliber .300 BLK, 8″ barrel (1:7.5 twist, 5/8×24 threaded), GVAC gas system, Midwest Industries 7″ M-LOK handguard, enhanced BCG, Radian Raptor CH, ambidextrous controls, M&P grip with interchangeable backstraps, Magpul BTR brace (pistol) or CTR stock (SBR) Xtechtactical XTech Tactical X-Flare Digital Mil-Spec Magwell BLK AR-15 / M4 The X-Flare Digital Mil-Spec Magwell is an injection-molded polymer flared magazine well designed to fit true mil-spec AR-15/M4 lowers without removing any parts. It creates a 1.75x larger funnel opening compared to a standard mil-spec magwell, features metal threaded sonic-welded inserts with included steel bolts, and adds only 28.5 grams of weight. Available in Black (with FDE and Grey color options), it installs in minutes and carries a lifetime warranty. The Gist: Available for immediate purchase from xtechtactical.com in single, two-pack or five-pack quantities Impact: $39.95 (single unit) Bottom Line: Injection molded glass-filled Super Tough Nylon; 1.75x larger funnel; fits all true mil-spec AR-15/M4 lowers (not billet/non-mil-spec); 6 × 4 × 1 in dimensions; 28.5 g weight; sonic-welded steel-threaded inserts Guns B&T Partners with Rare Breed for FRT-Equipped SPC9 and GHM9 B&T USA has partnered with Rare Breed Triggers to offer factory-integrated FRT-SG3 triggers in its 9mm SPC9 and GHM9 platforms. The guns are assembled and tested at B&T's facility prior to shipping as a complete, validated system. The FRT-SG3 features a three-position ambidextrous safety (safe, semi, FRT). The Gist: Factory-assembled and tested at B&T USA production facility before shipping Bottom Line: FRT-SG3 three-position ambidextrous safety (safe/semi/FRT); first factory-built FRT-equipped duty platforms from B&T Xtechtactical X Flare Digital Magwell Mil Spec Blk Ar 15 M4 Magwell https://pew.report/c/dTR56i Before we let you go – Join Gun Owners of America We'd love if you supported the show, join Agency 171 at agency171.com. Lot's of prizes, rewards and kick ass swag. No matter how tough your battle is today, we want you here fight with us tomorrow. Don't struggle in silence, you can contact the suicide prevention line by dialing 988 from your phone. Remember – Always prefer Dangerous Freedom over peaceful slavery. We'll see you next time! Nick – @busbuiltsystems | Bus Built Systems Jeremy – @ret_actual | Rivers Edge Tactical Aaron – @machinegun_moses Savage – @savage1r Shawn – @dangerousfreedomyt | @camorado.cam | Camorado

Connect with Early Riders — https://www.earlyriders.com/contactConnect with Onramp — https://onrampbitcoin.com/contact-us/Presented collaboratively by Early Riders & Onramp Media…Final Settlement is a weekly podcast covering capital markets, dealmaking, early-stage venture, bitcoin applications and protocol development.This week Michael, Liam, and Brian open on the open-versus-closed AI debate: Jensen Huang's first-ever tweet and NVIDIA's letter backing open models, the new Security Alliance consortium, the researchers quietly wishing they could slow it all down, and NVIDIA's reported $250 billion financing for OpenAI's Ohio data center. They dig into Jack Dorsey's Buzz, the open-source workspace built on the same Noster and Bitcoin primitives as BitChat, and what shared compute and censorship-resistant protocols mean as BitChat downloads spike 32-fold in India. The guys run through a stack of payments deals: Stripe's talks to buy OpenRouter near $10 billion, Cursor, Ramp, and Meta building model routers, and Natural Pay's $30 million Series A for agentic payments. They get into their favorite topic, the DATs: Mallers exiting 21 Capital as Tether's XXI merger collapses, Strategy's first Stretch buyback, and the new Bitcoin security consortium taking on quantum. They close on Augustus's $180 million raise, Worldcoin, and Travis Kalanick's return with Adam.Chapters00:00 - Introduction and overview of AI and open models02:10 - Jensen Huang's first tweet on open models and global cooperation09:08 - Discussion on slowing AI development and game theory18:03 - Jack Dorsey's Buzz: Open source workspace and primitives24:55 - Shared compute, decentralized protocols, and open standards35:02 - Regulatory landscape and geopolitical implications45:11 - Impacts on privacy, security, and censorship resistance54:03 - Recent deals and industry movements in AI and crypto01:02:08 - The future of Bitcoin, open protocols, and decentralized dataIf you found this valuable, please subscribe to Early Riders Insights for access to the best content in the ecosystem weekly: https://www.earlyriders.com/researchKeep up with Michael:https://x.com/MTangumaKeep up with Liam:https://x.com/Lnelson_21Keep up with Brian:https://x.com/BackslashBTC

Founders ✓ Claim : Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- In 2024 Brad Jacobs wrote the book How to Make a Few Billion Dollars. In the book Brad explains how he built 8 separate billion dollar companies and other lessons from his 40+ year career as an elite entrepreneur. In the two years since Brad has made a few MORE billion dollars and so the sequel to his first book is: How to Make a Few MORE Billion Dollars. In this episode I share some of Brad's ideas on raising tons of money (Brad has raised over $50 billion), mastering his integration playbook, ideas for organizational integration, org chart design, and how Brad keeps his mind centered and in a positive place to handle the inevitable ups and downs of building great companies. Episode sponsors: ⁠ Ramp⁠⁠⁠⁠⁠⁠⁠ gives you everything you need to control spend, watch your costs, and optimize your financial operations —all on a single platform. Make history's greatest entrepreneurs proud ⁠⁠⁠by going to Ramp and learning how they can help your business control your costs and save time and money.⁠⁠⁠ ⁠⁠⁠⁠https://ramp.com Automate compliance, security, and trust with Vanta.⁠ ⁠⁠⁠Vanta helps you win trust, close deals, and stay secure—faster and with less effort⁠⁠⁠⁠. ⁠⁠⁠Find out how increased security leads to more customers by going to Vanta⁠⁠⁠. Tell them David from Founders sent you and you'll get $1000 off. https://vanta.com/founders⁠⁠⁠ Collateral⁠⁠ transforms your complex ideas into compelling narratives. Collateral crafts institutional grade marketing collateral for private equity, private credit, real estate, venture capital, family offices, hedge funds, oil & gas companies, and all kinds of corporations. Storytelling is one of the highest forms of leverage and you should invest heavily in it. You can do that by going to ⁠⁠https://collateral.com

Obsession is the engine of Nolan's career. This episode examines Christopher Nolan's life, working methods, and philosophy through The Nolan Variations by Tom Shone. Made possible by: Ramp: ⁠⁠⁠https://ramp.com⁠⁠⁠ Applovin: ⁠⁠⁠https://www.applovin.com⁠ Vanta: ⁠⁠⁠https://vanta.com/founders⁠ ⁠Add your email here⁠ and I will send you my top 10 quotes from every episode: https://davidsenra.substack.com

La fiebre de la inteligencia artificial en las empresas ha entrado en una nueva fase. A lo largo de los dos últimos años las grandes empresas han fomentado su uso entre sus empleados premiando incluso a los más derrochadores. Se llegó a acuñar un término, el “tokenmaxxing”, una actitud que consistía en consumir la mayor cantidad posible de tokens, las unidades mínimas con las que los modelos descomponen el lenguaje y señalan el coste de las operaciones. En Meta, los usuarios más voraces recibían hasta títulos honoríficos. En plena vorágine pocos se preguntaban cuando iba a llegar la factura. Ese momento parece haber llegado. Ramp, una plataforma que ayuda a las empresas a controlar sus gastos, calcula que el gasto en inteligencia artificial se ha multiplicado por trece en un solo año. Uber gastó en cuatro meses el presupuesto de todo el año, y se habla de compañías que se han fundido 500 millones de dólares en tokens en un mes. Hasta Sam Altman admite que el gasto desaforado de muchos de sus clientes es un problema de primer orden. Cuando el vendedor reconoce eso, es que el comprador ya lo sabía desde hacía tiempo. El origen de este disparate está en la propia evolución de la tecnología. Se ha pasado muy rápido de modelos que respondían a preguntas simples a los que razonan antes de contestar, de ahí se pasó a los agentes, programas que actúan solos durante horas y disparan el gasto. Algunos de estos agentes crean otros subagentes que multiplican la cuenta sin que nadie se lo haya ordenado. La reacción ya ha llegado y donde antes había despilfarro ahora hay racionamiento. Meta y Amazon han retirado sus tablas de clasificación por consumo de tokens, Uber ha limitado el gasto a 1.500 dólares por empleado al mes y las consultoras les están siguiendo al igual que los bufetes de abogados. Tiene razón de ser. Emplear el modelo más caro para tareas rutinarias es matar moscas a cañonazos, así que las empresas se están empezando a decantar por la inteligencia a la carta mezclando proveedores. Donde antes reinaba el “tokenmaxxing” ahora lo hace el “thrift-maxxing”. En el mercado han irrumpido además los modelos chinos de código abierto, que van solo unos meses por detrás de los estadounidenses, pero que son sensiblemente más baratos. Una tarea que DeepSeek resuelve por 3 céntimos le cuesta a Fable, el modelo puntero de Anthropic, 2 euros y medio. Con semejante diferencia, la lealtad se evapora. Para OpenAI y Anthropic esto es una maldición. Subvencionan buena parte del coste real para retener a unos clientes que alternan modelos y que incluso coquetean con montárselo por su cuenta. La generosidad no puede durar eternamente, y menos aún con la salida a bolsa a la vuelta de la esquina. La lección es tan vieja como el capitalismo. Ninguna tecnología escapa a la ley de la gravedad de los costes. Terminada la etapa religiosa de los conversos que gastaban sin medida, llega la de los controladores financieros que preguntan cuánto cuesta cada cosa. En La ContraRéplica: 0:00 Introducción 3:28 Fin de la barra libre 35:37 La crisis del derecho internacional 46:30 Nacionalistas contra la selección · Canal de Telegram: https://t.me/lacontracronica · “Contra el pesimismo”… https://amzn.to/4m1RX2R · “Hispanos. Breve historia de los pueblos de habla hispana”… https://amzn.to/428js1G · “La ContraHistoria del comunismo”… https://amzn.to/39QP2KE · “La ContraHistoria de España. Auge, caída y vuelta a empezar de un país en 28 episodios”… https://amzn.to/3kXcZ6i · “Contra la Revolución Francesa”… https://amzn.to/4aF0LpZ · “Lutero, Calvino y Trento, la Reforma que no fue”… https://amzn.to/3shKOlK Apoya La Contra en: · Patreon... https://www.patreon.com/diazvillanueva · iVoox... https://www.ivoox.com/podcast-contracronica_sq_f1267769_1.html · Paypal... https://www.paypal.me/diazvillanueva Sígueme en: · Web... https://diazvillanueva.com · Twitter... https://twitter.com/diazvillanueva · Facebook... https://www.facebook.com/fernandodiazvillanueva1/ · Instagram... https://www.instagram.com/diazvillanueva · Linkedin… https://www.linkedin.com/in/fernando-d%C3%ADaz-villanueva-7303865/ · Flickr... https://www.flickr.com/photos/147276463@N05/?/ · Pinterest... https://www.pinterest.com/fernandodiazvillanueva Encuentra mis libros en: · Amazon... https://www.amazon.es/Fernando-Diaz-Villanueva/e/B00J2ASBXM #FernandoDiazVillanueva #ia #tokens Escucha el episodio completo en la app de iVoox, o descubre todo el catálogo de iVoox Originals

On this special segment of The Full Ratchet, the following Investors are featured: Natalie Dillon of Maveron Larry Cheng of Volition Capital Ben Black of Akkadian Ventures and Powerlaw Corp Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter.

My guest today is Matthew Smith. Matthew is the founder and CIO of Chronometer Partners, which invests in energy, industrials, materials, power and utilities, and related infrastructure. For the last 18 months he and his team have modeled nearly every natural gas well, pipeline, and processing asset in the United States. He's reached a conclusion most of the market doesn't share.  Starting in 2028, AI data centers and LNG exports will need more gas than the country can produce and deliver. By his math, the US could exhaust its working natural gas storage by 2030. In his words, the upside risk to prices becomes unbounded and convex. We talk about why this was set in motion long before AI arrived, why the US can't just turn off exports, who wins and loses among producers, nuclear, solar, and the hyperscalers, and what he sees as the only long-term solution. Please enjoy my conversation with Matthew Smith. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- In June, Matthew wrote a letter to a small group of confidants laying out the full case behind his natural gas forecast. He has allowed us to publish it. You can read the full letter here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like the Best (00:02:02) Episode Intro: Matt Smith (00:03:33) The Conclusion After 18 Months (00:04:56) The Die Was Cast Before AI (00:07:24) Sizing AI's Gas Demand (00:09:33) Why Not Just Stop Exporting? (00:11:38) Is the Gas Even There? (00:13:53) The Timing Problem, Not Supply (00:15:15) Flow Versus Stock (00:19:10) What Slows Gas to Market (00:22:21) If Nothing Changes by 2030 (00:26:11) Could Prices Hit Twenty Dollars? (00:27:00) Gas Producers Poised to Win (00:28:54) Utility-Scale Solar's Windfall (00:30:08) What About Nuclear? (00:32:40) SMRs (00:34:29) The US Consumer Pays (00:36:37) Turbine Makers Building Too Late (00:37:57) Are Hyperscalers Exposed Too? (00:44:25) Kickstarting the Nuclear Build (00:46:20) Put Solar on Every Roof (00:46:52) Implications for the World (00:49:26) No One's Securing Supply (00:52:57) The Challenge for Energy CEOs

Is there a common starting point that helps people embrace a lifestyle of evangelism and disciple-making? Is it something that can be taught, or is it something that must first be formed in the heart?In this episode, Kris and Ken think out loud about one of the biggest challenges facing the church today: helping everyday believers move from believing the mission to actually living it. Rather than offering a formula, they explore the deeper questions behind missional living and wrestle with what truly creates lasting passion and personal ownership for the mission of Jesus.If you've ever wondered why some people naturally live on mission while others struggle to take the first step, this conversation is for you.

Welcome back to the Bar Exam Toolbox podcast! This episode is part of the series in which we demystify the shift from MBE to NextGen multiple-choice questions. Today we're walking through four questions on evidence -- two in classic MBE style and two in the NextGen format. Join us and practice your understanding of hearsay exceptions and character evidence! In this episode, we discuss: Question 1: Hearsay exceptions (MBE) Question 2: Statement not offered for the truth (MBE) Question 3: Statement not offered for the truth (NextGen) Question 4: Character evidence (NextGen) Study tips for multiple-choice questions RAMP study tool Resources: https://barexamtoolbox.com/ramp (https://barexamtoolbox.com/ramp) Podcast Episode 89: Listen and Learn – What Is Hearsay? (https://barexamtoolbox.com/podcast-episode-89-listen-and-learn-what-is-hearsay/) Podcast Episode 101: Listen and Learn – Present Sense Impression vs. State of Mind (https://barexamtoolbox.com/podcast-episode-101-listen-and-learn-present-sense-impression-vs-state-of-mind/) Podcast Episode 114: Listen and Learn – Non-Hearsay (https://barexamtoolbox.com/podcast-episode-114-listen-and-learn-non-hearsay/) Podcast Episode 115: Listen and Learn – Dying Declaration vs. Excited Utterance (https://barexamtoolbox.com/podcast-episode-115-listen-and-learn-dying-declaration-vs-excited-utterance/) Podcast Episode 121: Listen and Learn – Character Evidence (https://barexamtoolbox.com/podcast-episode-121-listen-and-learn-character-evidence/) Podcast Episode 132: Listen and Learn – Hearsay Exceptions: Government and Business Records (https://barexamtoolbox.com/podcast-episode-132-listen-and-learn-hearsay-exceptions-government-and-business-records/) Podcast Episode 138: Listen and Learn – Hearsay Exceptions: Prior Testimony and Past Recollection Recorded (https://barexamtoolbox.com/podcast-episode-138-listen-and-learn-hearsay-exceptions-prior-testimony-and-past-recollection-recorded/) Podcast Episode 143: Listen and Learn – More Hearsay Exceptions (https://barexamtoolbox.com/podcast-episode-143-listen-and-learn-more-hearsay-exceptions/) Podcast Episode 158: Listen and Learn – Multiple Hearsay (https://barexamtoolbox.com/podcast-episode-158-listen-and-learn-multiple-hearsay/) Podcast Episode 214: Listen and Learn – Relevance Issues (Evidence) (https://barexamtoolbox.com/podcast-episode-214-listen-and-learn-relevance-issues-evidence/) Download the Transcript (https://barexamtoolbox.com/episode-354-listen-and-learn-mbe-vs-nextgen-multiple-choice-evidence/) If you enjoy the podcast, we'd love a nice review and/or rating on Apple Podcasts (https://itunes.apple.com/us/podcast/bar-exam-toolbox-podcast-pass-bar-exam-less-stress/id1370651486) or your favorite listening app. And feel free to reach out to us directly. You can always reach us via the contact form on the Bar Exam Toolbox website (https://barexamtoolbox.com/contact-us/). Finally, if you don't want to miss anything, you can sign up for podcast updates (https://barexamtoolbox.com/get-bar-exam-toolbox-podcast-updates/)! Thanks for listening! Alison & Lee

Ben Black of Co-founder & MD of Akkadian Ventures and CIO of Powerlaw Corp joins Nick to discuss Opening Late-Stage Venture to Everyone, Beating 10-Year Lockups, Why Logos Don't Equal Alpha, and Building Power Law as a Public VC Fund. In this episode we cover: Details of Power Law's Portfolio and Investment Strategy Challenges and Benefits of Power Law Innovation and Evolution in Venture Capital Balancing Demand and Supply in Power Law Regulatory Compliance and Educational Efforts Future of Power Law and Market Positioning Guest Links: Ben's LinkedIn Ben's X Powerlaw Corp (PWRL)'s LinkedIn Powerlaw Corp (PWRL)'s Website Akkadian Ventures' Website The host of The Full Ratchet is Nick Moran of New Stack Ventures, a venture capital firm committed to investing in founders outside of the Bay Area. We're proud to partner with Ramp, the modern finance automation platform. Book a demo and get $150—no strings attached.   Want to keep up to date with The Full Ratchet? Follow us on social. You can learn more about New Stack Ventures by visiting our LinkedIn and Twitter

This episode discusses Joseph Wechsberg's 1966 book, The Merchant Bankers. Rather than recounting the histories of families like the Rothschilds, Barings, Hambros, Warburgs, and Lehman Brothers, I wanted to extract the principles they shared. Merchant banking is fascinating. It's a very distinctive form of entrepreneurship. There is an old-school way of doing business that appeals to me. The merchant bankers' profiled in this book have a combination of: personal honor speed of action clear thinking independent judgment seamless webs of deserved trust discretion and willingness to make unconventional decisions. The founder of every merchant banking dynasty was a merchant before he was merchant banker. Once they discovered financing transactions was more profitable than physically trading goods, their real products became credit, judgment, information, advice, access, and—above all—trust. Their greatest asset was not money. Their greatest asset was their reputation. Made possible by: Ramp: ⁠⁠https://ramp.com⁠⁠  Applovin: ⁠⁠https://www.applovin.com Vanta: ⁠⁠https://vanta.com/founders Add your email here and I will send you my top 10 quotes from every episode.

Today my guest is John Kim. John is one of the world's top and most prolific fundraisers.  He was chief client officer at General Catalyst, where he helped raise many of the firm's flagship funds. He is now chairman and president of corporate development at Lila Sciences, a company building scientific superintelligence, where he has helped raise several hundred million dollars.  He is also the author of The Tao of Fundraising.  This conversation is really a guide on how to raise money from someone who has done it at the highest level. We talk about why persuasion equals desire minus fear, the difference between belief and trust, the laws of fundraising, and how to build the consensus that moves big pools of capital.  Please enjoy my conversation with John Kim. For the full show notes, transcript, and links to mentioned content, check out the episode page ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠here⁠⁠⁠⁠⁠.  ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at ⁠colossus.com/subscribe⁠. ----- ⁠Ramp's⁠ mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠ramp.com/invest⁠⁠ to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, ⁠Vanta⁠ continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to ⁠vanta.com/invest⁠.  ----- WorkOS⁠ is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- ⁠Ridgeline⁠ has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ridgeline.ai⁠. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:02) Introduction of John Kim (00:02:39) Money Moves at the Speed of Trust (00:05:06) How to Start a Fundraising Campaign (00:08:03) Persuasion Equals Desire Minus Fear (00:12:20) How to Raise a Few Billion Dollars (00:15:58) The Benchmark Story (00:18:36) The Law of Differentiation (00:24:13) Law of Tradeoffs and Law of Pipeline (00:27:52) The Karpman Drama Triangle (00:30:42) Oprah Winfrey (00:33:49) Most Common Fundraising Mistakes (00:38:35) Secretary of State (00:45:40) The Inner Game (00:47:38) The Kindest Thing

Brock Johnson has posted on Instagram for more than 1,800 consecutive days, and in this episode, he shares the exact AI system he wishes he had from day one. He breaks down his RAMP framework — Research, Assemble, Multiply, Process — and explains how to use Claude, Claude Code, and Claude Cowork to build an Instagram workflow that runs almost entirely on autopilot. The episode covers seven of the biggest content creation challenges: not knowing what to post, writing weak hooks, filming inefficiently, constantly task switching, ignoring carousels, failing to schedule content, and not understanding why posts succeed or fail. For each challenge, Brock demonstrates the automation he recommends, from generating weekly research summaries based on saved posts and favorite accounts, to testing scripts with a "would this make sense to a stranger?" filter, to using Claude as a virtual director that creates optimized shot lists for filming. He also explains how Canva templates combined with Claude Cowork can transform existing Reels into carousels, how Claude Cowork can automatically schedule posts in Metricool based on custom rules, and how his own system keeps more than 150 Instagram posts scheduled up to six months in advance. Toward the end of the episode, Brock shows how Claude Code can build dashboards that analyze content performance and uncover trends creators often miss. One of the biggest takeaways is that no coding experience is required. Instead of writing code, creators simply describe the workflow they want, and Claude Cowork handles the technical implementation. The episode wraps up with a challenge to build one automation using the RAMP framework, along with an invitation to Brock's end-of-July webinar series that teaches how to grow on Instagram in less than 15 minutes a day. Watch On YouTube