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1. California Firearm Advertising Law Struck Down California agreed to a settlement exceeding $1.3 million in attorney fees after losing a lawsuit over its “marketing firearms to minors” law. The law effectively banned most firearm advertising, arguing it could appeal to minors. The lawsuit was brought by the Second Amendment Foundation, Firearms Policy Coalition, and other plaintiffs. Core Argument Presented The law violated the First Amendment by banning truthful, lawful advertising. It was also framed as an indirect attempt to undermine the Second Amendment by financially crippling gun stores. 2. Ninth Circuit Ruling and Judicial Reasoning A Ninth Circuit judge (Judge Lee, September 2023) ruled against the law. The opinion stated: The law did not materially advance California’s goal of reducing gun violence. There was no evidence minors had illegally purchased firearms due to advertising. The court highlighted a contradiction: California allows minors to use firearms legally (e.g., hunting, sport shooting), Yet banned advertising about those same lawful activities. 3. Governor Gavin Newsom Criticism Governor Newsom is portrayed as acting emotionally and irrationally, particularly over: A .22 caliber rifle designed for youth shooters. The text argues: Youth firearms are legally owned by parents, not children. Such firearms are common for hunting and training. The financial cost to taxpayers is emphasized as a political failure. 4. Broader National Implications The case is framed as a warning to other states: Similar laws will fail and result in costly defeats. The victory is presented as: A win for constitutional rights A success made possible only by organizations with “deep pockets” 5. Shift to Federal Politics: The SAVE Act The second half shifts focus to the U.S. Senate debate over the SAVE Act. The bill is framed as an election integrity measure. Core premise: “Only American citizens should decide American elections.” 6. President Trump’s Leadership Role Trump is portrayed as: Personally directing the strategy Pressuring Republicans to unify Making the bill a top priority The effort is described as deliberate and strategic, not symbolic. 7. Republican vs. Democrat Contrast Republicans: Unified On offense Advocating for voter ID and proof of citizenship Democrats: Described as unanimously opposed Framed as defending an “impossible” position The debate is positioned as a midterm election defining issue. Please Hit Subscribe to this podcast Right Now. Also Please Subscribe to the The Ben Ferguson Show Podcast and Verdict with Ted Cruz Wherever You get You're Podcasts. And don't forget to follow the show on Social Media so you never miss a moment! Thanks for Listening X: https://x.com/benfergusonshowYouTube: https://www.youtube.com/@VerdictwithTedCruzSee omnystudio.com/listener for privacy information.

Jaylen Brown just went OFF for 41 points and had the Boston Celtics absolutely buzzing — and Juju & Trysta are here to break it all down.In this episode of the Alley Oop Basketball Show, the crew dives into: Brown's dominant performance and what it means for the Celtics moving forward The latest on the Los Angeles Lakers — are they figuring it out or still stuck in chaos? The fascinating comparison between Luka Dončić and Caitlin Clark — do they really have the same bag? The Atlanta Hawks heating up with a serious win streak Toronto Raptors fans going absolutely off the rails And a hilarious MMA fail you NEED to see From elite scoring performances to wild fan moments and crossover debates, this episode has everything. Learn more about your ad choices. Visit podcastchoices.com/adchoices

It's Tuesday, March 17th, A.D. 2026. This is The Worldview in 5 Minutes heard on 140 radio stations and at www.TheWorldview.com.  I'm Adam McManus. (Adam@TheWorldview.com) By Kevin Swanson and Timothy Reed Cuba is on verge of collapse Cuba, a communist country in the Western Hemisphere, is on the verge of collapse. Oil shipments to the island nation stopped three months ago and the nation's electric grid gave out over the weekend. Plus, the country's Gross Domestic Product, the total monetary value of all goods and services produced within a country's borders, slipped another 5% last year.  According to the United Nation's Economic Commission for Latin America and the Caribbean, communist Cuba has the worst GDP/capita in Latin America — barely reaching $1,000 per year. The worst economies in Latin America are communist Venezuela, communist Nicaragua, communist Cuba, and Haiti.  Cuba is ripest nation for spiritual revival Despite the economic doom and gloom, Cuba appears to be the ripest for spiritual revival of any nation in the world today.   The Baptists have reported a 40-fold increase in the number of churches since 1990.  One estimate puts the total number of Cuban believers at two million. That's about 20% of the population -- higher than membership in the communist party for the country. In Matthew 16:18, Jesus promised that “He would build His church, and the gates of Hades shall not prevail against it.” 47% of Americans oppose the U.S.-Iranian war Americans continue to have mixed opinions about the Iran conflict. New polling averages, from Real Clear Politics, found that 44% of Americans support the war, while 47% oppose the fight.  Similarly, a Quinnipiac poll found that only 40% of Americans favor the war, with 53% in opposition. A whopping 74% of Americans are opposed to sending ground troops into the war, something the Trump administration has not ruled out.  Court allows naked men in women's spa The 9th Circuit Court of Appeals has let stand a lower court ruling requiring a private spa, intended for women, to allow naked men to frequent the premises. The Washington State spa owners insisted this policy would be contrary to their Christian beliefs.  Thus far, at least five judges have filed dissents on the decision. 19% of employees at U.S. companies are foreign workers American corporations are hiring foreign workers like never before, recent numbers indicate 19.2% of their employees are foreign workers, up from 12% twenty years ago.  Another 10% of the U.S. workforce is also provided for by digital offshoring by organizations like Upwork. That makes almost a third of the U.S. workforce now provided for by foreigners. Pastor: If you're a Christian, don't live in sin with someone Megachurch pastor Josh Howerton of LakePointe Church in Dallas, Texas, challenged Christian couples to stop living in sin. HOWERTON: “The Bible is going to say things about marriage, sexuality and divorce that are very controversial to the world. My response to that is: ‘To who?' Because what the world says about marriage is controversial to Heaven. I would rather Heaven be pleased and the world say we're controversial than be applauded by the world and controversial before Heaven.” Pastor Howerton concluded his sermon with this challenge. HOWERTON: “You're living with somebody that's not your spouse. You're sleeping with somebody that's not your spouse. Or you've actually already started a family and had kids with somebody that's not your spouse. “And you, right now, are coming under the loving conviction of the Holy Spirit that you need to honor God, bend your knee to Jesus, put a ring on it, and enter into a covenant with a person that you're already acting like you're in a covenant with. “What I want you to know is we want to help you do that, because we got a little thing at Lakepoint. We say, ‘The only time we look down on people is to give them a hand up.' “So, here's what we want to do. We got a whole team of pastors. We are ready to have a mass wedding ceremony. I'm 100% serious. We got people. We're gonna walk with you, counsel you, help you, and then we're gonna get you married. We're gonna throw a big party. “And guess what? Your church family is not going to be doing. These people aren't going to be judging you. They're going to be cheering you on as you step forward into obedience to Jesus Christ.” Remarkably, following the sermon, 52 couples came forward and were married at the church a couple of weeks later. Isaiah 1:18 says, “Come now, and let us reason together, says the LORD. ‘Though your sins are like scarlet, they shall be as white as snow; Though they are red like crimson, they shall be as wool.'” Tennessee bill to abolish abortion died in committee A bill before the Tennessee State legislature that would have fully banned abortion was killed in the legislature's Health Subcommittee last week, reports the Nashville Banner. The bill would have criminalized abortion and given equal protection to the unborn under the law. However, the measure was actively opposed by both pro-abortion and pro-life groups, who argued the law was too strict.  Bradley Pierce, president of the Foundation to Abolish Abortion, stated, “I don't think it's merciful to tell women that they're allowed to murder their children. To those who say that having a blanket exemption for women is merciful, do you apply that to any other area of law?”  Similar bills have been introduced, both in Democratic and Republican states, and thus far, none have passed.  Proverbs 24:11 admonishes us to “Deliver those who are drawn toward death, and hold back those stumbling to the slaughter.” Christian apologist shares Christ on popular podcast Apologist Wes Huff clearly explained the Gospel of Jesus Christ to entrepreneur Steven Bartlett on Bartlett's “Diary of a CEO” podcast — among the top podcasts in the world. In fact, 3 million people listen per episode. BARTLETT: “If I sin in my life, do I go to hell?” HUFF:  “Here's the thing: everybody is going to hell. Everybody. The Bible is very clear. All good people go to Heaven, but Jesus said, ‘No one is good but God alone.' So, if all good people go to Heaven, and no one is good but God alone, only God is in Heaven.” BARTLETT: “Mmm.” HUFF:  “So, Christianity says you're not going to be able to do, feel or think good enough. Compared to God, you're always going to fall short. Be perfect as your Father in Heaven is perfect, is what Scripture says. That's an impossible standard. “The message of the Bible, the reason why it's called the Gospel, the Good News, is because of the bad news. The bad news is you're dead in your sins and trespasses and you can't save yourself. Jesus, as the second Person of the Trinity, steps off of His throne in eternity, comes into humanity, and He pays the penalty of the sin that you deserve.” Romans 3:23 gives us the bad news. “For all have sinned and fall short of the glory of God.” And Romans 5:8 gives us the Good News. "But God demonstrates His own love for us in this: While we were still sinners, Christ died for us." Oscars awarded to foul-mouthed, immoral R-rated movies And finally, the 98th Academy Award ceremonies awarded more R-rated movies with top prizes again this year. One Battle After Another, starring Leonardo DiCaprio and Sean Penn, took the Best Picture award — a film celebrating revolution, killing ICE agents, and murdering pro-life legislators.  It played with moral ambiguity and satire, while encouraging revolutionary activity in society. Sadly, the film, which features the most obscene word 135 times and the Lord's name used in vain 20 times, garnered six Oscars. Another R-rated movie, Sinners, collected four more Oscars. The film glorified demonism, African animism, murderers, adulterers, and hoodoo witches, while condemning Christianity for its alleged legalism and white oppression. Sinners features the Lord's name taken in vain 11 times. I John 2:15-17 says, “Do not love the world or anything in the world. If anyone loves the world, love for the Father is not in them. For everything in the world—the lust of the flesh, the lust of the eyes, and the pride of life—comes not from the Father, but from the world.  The world and its desires pass away, but whoever does the will of God lives forever.” Close And that's The Worldview on this Tuesday, March 17th, in the year of our Lord 2026. Follow us on X or subscribe for free by Spotify, Amazon Music, or by iTunes or email to our unique Christian newscast at www.TheWorldview.com.  Plus, you can get the Generations app through Google Play or The App Store. I'm Adam McManus (Adam@TheWorldview.com). Seize the day for Jesus Christ.

This week on The Necessary Conversation, we break down a rapidly escalating global conflict, rising tensions at home, government spending controversies, and new developments around election investigations. From the war with Iran to domestic security concerns and political rhetoric in the U.S., we unpack one of the most intense news cycles yet.⚔️ War With Iran – 15 Days InFifteen days into the conflict with Iran, casualties are mounting and global tensions are rising. U.S. troops, Iranian civilians, and Israeli citizens have all been killed or wounded as missile strikes, drone attacks, and proxy conflicts spread across the region.The war has also triggered major economic consequences:Oil prices have surgedGas prices in the U.S. have jumped sharplyKey global shipping routes through the Strait of Hormuz are under threatWe discuss:Whether the war has a clear objectiveThe potential for escalation and a possible draftThe economic impact on Americans at home

Joe DeCamara of the 94 WIP Morning Show posits that the Eagles are in a similar position as the Phillies: they don't quite love the position players they have, but it's better than what they could have. Jon Ritchie thinks the Eagles will be just fine.

This is my annual poison prevention episode. The topic this year is The risks and benefits of using medications for opioid use disorder (MOUD) from a Poison Prevention Educator's Point of View. My guests are Angel Bivens, RPh and Dr. Wendy Stephan. This podcast is for educational purposes only and is not medical advice. Please consult a qualified healthcare professional for medical guidance specific to your situation.   Angel Bivens, RPh is the Managing Director at the Maryland Poison Center in Baltimore, Maryland.    Wendy Stephan, PhD is the Educator and Epidemiologist at the Poison Control Center in Miami, Florida. She is also on the Board of Directors of America's Poison Centers, which is the organization that supports all 53 Poison Centers in the United States.   To read the FULL show notes, visit https://www.thepharmacistsvoice.com.  Click the Podcast tab, and select episode 368.   Follow the podcast to get each new episode! Popular links are below.   Apple Podcasts   https://apple.co/42yqXOG  Spotify  https://spoti.fi/3qAk3uY  Amazon/Audible  https://adbl.co/43tM45P YouTube https://bit.ly/43Rnrjt   Links and info from this episode Poison Help Line Number 1-800-222-1222 America's Poison Centers https://poisoncenters.org/  National Poison Prevention Week is March 15-21, 2026. Use the partner toolkit on https://piper.filecamp.com/s/i/OOt8k1JlBFCc08KH Florida Poison Control www.floridapoisoncontrol.org LinkedIn for Wendy: https://www.linkedin.com/in/wendy-s-315b70178/ Email Wendy wstephan@med.miami.edu X (Twitter): @floridapoison https://x.com/FloridaPoison  Instagram @floridapoisoncontrol https://www.instagram.com/floridapoisoncontrol/  Facebook: https://www.facebook.com/FloridasPCC/  Angel Bivens, RPh on LinkedIn https://www.linkedin.com/in/angelbivens/  Maryland Poison Center: https://www.mdpoison.com/  To find your local poison center: https://poisoncenters.org/  Poison Prevention Press: https://www.mdpoison.com/families/pppress.html (One-page, plain language e-newsletter published every other month on varying topics; all current and previous issues available Poison Prevention Press sign up: http://bit.ly/MPCSignUp) eAntidote Blog: blog.mdpoison.com  Facebook: MarylandPoisonCenter https://www.facebook.com/MarylandPoisonCenter  X (Twitter): @MDPoisonCtr https://x.com/MDPoisonCtr X (Twitter): @MPCToxtidbits https://x.com/MPCToxtidbits  Instagram: @MDPoisonCenter https://www.instagram.com/mdpoisoncenter/  YouTube: Maryland Poison Center https://www.youtube.com/@marylandpoisoncenter/videos  Resources with clinical information for pharmacists: ToxTidbits:  http://bit.ly/ToxTidbits (One-page clinical e-newsletter published monthly on various toxicologic topics; all current and previous issues available ToxTidbits sign up: http://bit.ly/TTBSignUp)   Other Poison Prevention Episodes The Pharmacist's Voice Podcast Episode 27 featuring Dr. Wendy Stephan (July 2020) The Pharmacist's Voice Podcast Episode 87 featuring Angel Bivens (March 2021) The Pharmacist's Voice Podcast Episode 141 featuring Angel Bivens (March 2022) The Pharmacist's Voice Podcast Episodes 203, 204, 205, 206, and 207 (March 2023) The Pharmacist's Voice Podcast Episode 268 featuring Wendy and Angel (March 2024) The Pharmacist's Voice Podcast Episode 321 featuring Wendy and Angel (March 2025)    Take-away messages from Episode 368 in March 2026: Overdose deaths declined between 2023 and 2024.  More than 23 million people are in recovery or have recovered from SUD.  Stigma associated with recovery needs to decline as the number of people in recovery increases. Recovery is possible, and it's probable. Poison Prevention Educators talk to students and communities about substance abuse prevention. Opioid use disorder has many possible entry points, including using pain killers from surgery or dental work, experimentation, and accidental use. Pharmacists have the opportunity to counsel on proper use and storage of MOUD. Counsel to take oral doses in private, so vulnerable individuals cannot see. Vulnerable individuals, like children or DD adults want to imitate the behavior of others. Avoid medication errors. Remove distractions while taking or giving medications, and read the label every time. Keep a personal MAR, if needed, to remember if a dose has been taken.  If a medication error happens, get help (Poison Help or 9-1-1), forgive yourself, and continue your road to recovery.  Narcan is import for anyone in recovery from opioid addiction to have. But, a person experiencing an OD will be unable to give themselves Narcan. Make sure your patients educate the people around them about what Narcan is, when to use it, and how to administer it.  As a general rule, counsel on calling 9-1-1 after giving a dose of Narcan. It can wear off.  Pharmacists should counsel on risks of keeping MOUD in the home: accidental use by a curious, opioid-naive child, confusion with other meds, accidental second dose, etc. Call Poison Help right away with exposure concerns, but skip right to 9-1-1 if the person is not breathing, unconscious, or having a seizure.  Poison Center Staff are experts in poison information. They help healthcare professionals and the general public with questions. If you call, you're in good hands. Adults of all ages may be in recovery. It's not just a health condition for young people.  Get Poison Help Line magnets for your pharmacy, and share them with your patients. If you need some magnets, call 1-800-222-1222.  March is Poison Prevention Month in the United States. National Poison Prevention Week in the US is March 15-21, 2026, and the theme is, "When the unexpected happens, Poison Help is here for you." There is a partner toolkit with images and talking points on https://piper.filecamp.com/s/i/OOt8k1JlBFCc08KH  A complete health history is important. Ask about recovery. Include "in recovery from opioid addiction" as a health condition at the pharmacy and with medical providers.  Advise patients to inscribe, "Do not give opioids" on medic alert jewelry. Similar advice, advise patient to include "do not give opioids" in the "health app" on their smartphone in case of emergency. Pharmacists (this is a tough one). If you see something, say something. Protect your patient's recovery. If something on your prescription monitoring program suggests that your patient is in recovery, but they are trying to fill prescriptions for opioids, protect their recovery. Maybe a well-meaning dentist, doctor, or surgeon wrote a prescription and didn't know the whole story. Or, maybe your patient wants to relapse. If you see something, say something, even if it feels awkward. Prevent relapses and maybe overdoses with patients who have a lower tolerance for opioids.  Be skeptical of natural products and supplements that have been promised to help with opioid withdrawal.  Terminology matters. Know your audience, and reflect their preferred language back to them. Avoid terms that are stigmatizing, like "junkie." When in doubt, ask the person you're speaking with how they prefer to call themselves.    Kim's websites and social media links: ✅ Guest Application Form (The Pharmacist's Voice Podcast) https://bit.ly/41iGogX  ✅ Monthly email newsletter sign-up link https://bit.ly/3AHJIaF  ✅ LinkedIn Newsletter https://bit.ly/40VmV5B ✅ Business website https://www.thepharmacistsvoice.com ✅ The Pharmacist's Voice ® Podcast https://www.thepharmacistsvoice.com/podcast ✅ Pronounce Drug Names Like a Pro © Online Course https://www.kimnewlove.com  ✅ Pharmacist Podcaster Book https://amzn.to/4iAKNBs  ✅ Podcasting Online Course https://www.kimnewlove.com/podcasting  ✅ Private Podcasting Coaching or Consulting https://www.kimnewlove.com/private-coaching  ✅ LinkedIn https://www.linkedin.com/in/kimnewlove ✅ Facebook https://www.facebook.com/kim.newlove.96 ✅ Twitter https://twitter.com/KimNewloveVO ✅ Instagram https://www.instagram.com/kimnewlovevo/ ✅ YouTube https://www.youtube.com/channel/UCA3UyhNBi9CCqIMP8t1wRZQ ✅ ACX (Audiobook Narrator Profile) https://www.acx.com/narrator?p=A10FSORRTANJ4Z ✅ Start a podcast with my coach, Dave Jackson from The School of Podcasting! Click my affiliate link: https://community.schoolofpodcasting.com/invitation?code=G43D3G  *New 12-4-25*

Groev (pronounced 'Grove') are a Galway-based indie/folk band known for their warm, folky melodies, catchy hooks, and heartfelt storytelling. Groev formed in 2024, playing pubs to pay the bills and working on their original music. They released their debut single, Ben and Jerry's, via Mahogany Songs in May 2025, and soon after supported Jamie McIntyre on his Irish and UK tour dates. Their biggest single to date, Tara Grove (released August 2025), has amassed over 200,000 Spotify streams. In November of last year, they embarked on their first national tour, which included sold-out shows upstairs at Róisín Dubh and upstairs in Whelan's. Similar sound to Kodaline, Amble, and Kingfishr. Groev released "Subtle," their first love song and latest single, on Feb. 27, following the success of "Tara Grove," which surpassed 200,000 Spotify streams. Rory from the band said the song evolved organically during the writing process. "'Subtle' found its feet over time," he said. "Initially, I had no clue what I was writing, but then I started connecting with it through getting to know someone, not knowing what to do but just being happy." The track explores early romance through small, intimate moments. Opening with the line "Saw her smoking underneath the light / I asked her hand, but she wanted mine," the song captures autumn rain, skipping stones, and moonlit conversations between two people before life gets complicated. The release follows Groev's selection for Whelan's Ones to Watch 2026 as the band prepares for a busy year.

Send a textIf you read the headlines about Private Credit, it feels like we're on the verge of another Global Financial Crisis. So, are we?  In this Private Credit "state of the union" episode, we break down the structural differences between today's private credit market and the pre-GFC banking system, why the "private" in private credit makes it so hard to know how deep the problems actually go, and whether the knock-on effects to pensions, banks, and public markets could make this everyone's problem even if most Americans don't have direct exposure.We dig into the Blue Owl gating, redemption and markdown headlines at Blackstone and Blackrock, and what Boaz Weinstein's activist bid tells us about where these portfolios are actually worth. What's more, we ask whether the push to put private credit into 401(k)s and retail channels is democratizing wealth creation or backfilling institutional demand that's dried up. Plus: the "SaaSpocalypse" thesis, why Tuesday's record $66 billion day in IG bond issuance may be telling a very different story than private credit headlines, and more!For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

Turbopuffer came out of a reading app.In 2022, Simon was helping his friends at Readwise scale their infra for a highly requested feature: article recommendations and semantic search. Readwise was paying ~$5k/month for their relational database and vector search would cost ~$20k/month making the feature too expensive to ship. In 2023 after mulling over the problem from Readwise, Simon decided he wanted to “build a search engine” which became Turbopuffer.We discuss:• Simon's path: Denmark → Shopify infra for nearly a decade → “angel engineering” across startups like Readwise, Replicate, and Causal → turbopuffer almost accidentally becoming a company • The Readwise origin story: building an early recommendation engine right after the ChatGPT moment, seeing it work, then realizing it would cost ~$30k/month for a company spending ~$5k/month total on infra and getting obsessed with fixing that cost structure • Why turbopuffer is “a search engine for unstructured data”: Simon's belief that models can learn to reason, but can't compress the world's knowledge into a few terabytes of weights, so they need to connect to systems that hold truth in full fidelity • The three ingredients for building a great database company: a new workload, a new storage architecture, and the ability to eventually support every query plan customers will want on their data • The architecture bet behind turbopuffer: going all in on object storage and NVMe, avoiding a traditional consensus layer, and building around the cloud primitives that only became possible in the last few years • Why Simon hated operating Elasticsearch at Shopify: years of painful on-call experience shaped his obsession with simplicity, performance, and eliminating state spread across multiple systems • The Cursor story: launching turbopuffer as a scrappy side project, getting an email from Cursor the next day, flying out after a 4am call, and helping cut Cursor's costs by 95% while fixing their per-user economics • The Notion story: buying dark fiber, tuning TCP windows, and eating cross-cloud costs because Simon refused to compromise on architecture just to close a deal faster • Why AI changes the build-vs-buy equation: it's less about whether a company can build search infra internally, and more about whether they have time especially if an external team can feel like an extension of their own • Why RAG isn't dead: coding companies still rely heavily on search, and Simon sees hybrid retrieval semantic, text, regex, SQL-style patterns becoming more important, not less • How agentic workloads are changing search: the old pattern was one retrieval call up front; the new pattern is one agent firing many parallel queries at once, turning search into a highly concurrent tool call • Why turbopuffer is reducing query pricing: agentic systems are dramatically increasing query volume, and Simon expects retrieval infra to adapt to huge bursts of concurrent search rather than a small number of carefully chosen calls • The philosophy of “playing with open cards”: Simon's habit of being radically honest with investors, including telling Lachy Groom he'd return the money if turbopuffer didn't hit PMF by year-end • The “P99 engineer”: Simon's framework for building a talent-dense company, rejecting by default unless someone on the team feels strongly enough to fight for the candidate —Simon Hørup Eskildsen• LinkedIn: https://www.linkedin.com/in/sirupsen• X: https://x.com/Sirupsen• https://sirupsen.com/aboutturbopuffer• https://turbopuffer.com/Full Video PodTimestamps00:00:00 The PMF promise to Lachy Groom00:00:25 Intro and Simon's background00:02:19 What turbopuffer actually is00:06:26 Shopify, Elasticsearch, and the pain behind the company00:10:07 The Readwise experiment that sparked turbopuffer00:12:00 The insight Simon couldn't stop thinking about00:17:00 S3 consistency, NVMe, and the architecture bet00:20:12 The Notion story: latency, dark fiber, and conviction00:25:03 Build vs. buy in the age of AI00:26:00 The Cursor story: early launch to breakout customer00:29:00 Why code search still matters00:32:00 Search in the age of agents00:34:22 Pricing turbopuffer in the AI era00:38:17 Why Simon chose Lachy Groom00:41:28 Becoming a founder on purpose00:44:00 The “P99 engineer” philosophy00:49:30 Bending software to your will00:51:13 The future of turbopuffer00:57:05 Simon's tea obsession00:59:03 Tea kits, X Live, and P99 LiveTranscriptSimon Hørup Eskildsen: I don't think I've said this publicly before, but I just called Lockey and was like, local Lockie. Like if this doesn't have PMF by the end of the year, like we'll just like return all the money to you. But it's just like, I don't really, we, Justine and I don't wanna work on this unless it's really working.So we want to give it the best shot this year and like we're really gonna go for it. We're gonna hire a bunch of people. We're just gonna be honest with everyone. Like when I don't know how to play a game, I just play with open cards. Lockey was the only person that didn't, that didn't freak out. He was like, I've never heard anyone say that before.Alessio: Hey everyone, welcome to the Leading Space podcast. This is Celesio Pando, Colonel Laz, and I'm joined by Swix, editor of Leading Space.swyx: Hello. Hello, uh, we're still, uh, recording in the Ker studio for the first time. Very excited. And today we are joined by Simon Eski. Of Turbo Farer welcome.Simon Hørup Eskildsen: Thank you so much for having me.swyx: Turbo Farer has like really gone on a huge tear, and I, I do have to mention that like you're one of, you're not my newest member of the Danish AHU Mafia, where like there's a lot of legendary programmers that have come out of it, like, uh, beyond Trotro, Rasmus, lado Berg and the V eight team and, and Google Maps team.Uh, you're mostly a Canadian now, but isn't that interesting? There's so many, so much like strong Danish presence.Simon Hørup Eskildsen: Yeah, I was writing a post, um, not that long ago about sort of the influences. So I grew up in Denmark, right? I left, I left when, when I was 18 to go to Canada to, to work at Shopify. Um, and so I, like, I've, I would still say that I feel more Danish than, than Canadian.This is also the weird accent. I can't say th because it, this is like, I don't, you know, my wife is also Canadian, um, and I think. I think like one of the things in, in Denmark is just like, there's just such a ruthless pragmatism and there's also a big focus on just aesthetics. Like, they're like very, people really care about like where, what things look like.Um, and like Canada has a lot of attributes, US has, has a lot of attributes, but I think there's been lots of the great things to carry. I don't know what's in the water in Ahu though. Um, and I don't know that I could be considered part of the Mafi mafia quite yet, uh, compared to the phenomenal individuals we just mentioned.Barra OV is also, uh, Danish Canadian. Okay. Yeah. I don't know where he lives now, but, and he's the PHP.swyx: Yeah. And obviously Toby German, but moved to Canada as well. Yes. Like this is like import that, uh, that, that is an interesting, um, talent move.Alessio: I think. I would love to get from you. Definition of Turbo puffer, because I think you could be a Vector db, which is maybe a bad word now in some circles, you could be a search engine.It's like, let, let's just start there and then we'll maybe run through the history of how you got to this point.Simon Hørup Eskildsen: For sure. Yeah. So Turbo Puffer is at this point in time, a search engine, right? We do full text search and we do vector search, and that's really what we're specialized in. If you're trying to do much more than that, like then this might not be the right place yet, but Turbo Buffer is all about search.The other way that I think about it is that we can take all of the world's knowledge, all of the exabytes and exabytes of data that there is, and we can use those tokens to train a model, but we can't compress all of that into a few terabytes of weights, right? Compress into a few terabytes of weights, how to reason with the world, how to make sense of the knowledge.But we have to somehow connect it to something externally that actually holds that like in full fidelity and truth. Um, and that's the thing that we intend to become. Right? That's like a very holier than now kind of phrasing, right? But being the search engine for unstructured, unstructured data is the focus of turbo puffer at this point in time.Alessio: And let's break down. So people might say, well, didn't Elasticsearch already do this? And then some other people might say, is this search on my data, is this like closer to rag than to like a xr, like a public search thing? Like how, how do you segment like the different types of search?Simon Hørup Eskildsen: The way that I generally think about this is like, there's a lot of database companies and I think if you wanna build a really big database company, sort of, you need a couple of ingredients to be in the air.We don't, which only happens roughly every 15 years. You need a new workload. You basically need the ambition that every single company on earth is gonna have data in your database. Multiple times you look at a company like Oracle, right? You will, like, I don't think you can find a company on earth with a digital presence that it not, doesn't somehow have some data in an Oracle database.Right? And I think at this point, that's also true for Snowflake and Databricks, right? 15 years later it's, or even more than that, there's not a company on earth that doesn't, in. Or directly is consuming Snowflake or, or Databricks or any of the big analytics databases. Um, and I think we're in that kind of moment now, right?I don't think you're gonna find a company over the next few years that doesn't directly or indirectly, um, have all their data available for, for search and connect it to ai. So you need that new workload, like you need something to be happening where there's a new workload that causes that to happen, and that new workload is connecting very large amounts of data to ai.The second thing you need. The second condition to build a big database company is that you need some new underlying change in the storage architecture that is not possible from the databases that have come before you. If you look at Snowflake and Databricks, right, commoditized, like massive fleet of HDDs, like that was not possible in it.It just wasn't in the air in the nineties, right? So you just didn't, we just didn't build these systems. S3 and and and so on was not around. And I think the architecture that is now possible that wasn't possible 15 years ago is to go all in on NVME SSDs. It requires a particular type of architecture for the database that.It's difficult to retrofit onto the databases that are already there, including the ones you just mentioned. The second thing is to go all in on OIC storage, more so than we could have done 15 years ago. Like we don't have a consensus layer, we don't really have anything. In fact, you could turn off all the servers that Turbo Buffer has, and we would not lose any data because we have all completely all in on OIC storage.And this means that our architecture is just so simple. So that's the second condition, right? First being a new workload. That means that every company on earth, either indirectly or directly, is using your database. Second being, there's some new storage architecture. That means that the, the companies that have come before you can do what you're doing.I think the third thing you need to do to build a big database company is that over time you have to implement more or less every Cory plan on the data. What that means is that you. You can't just get stuck in, like, this is the one thing that a database does. It has to be ever evolving because when someone has data in the database, they over time expect to be able to ask it more or less every question.So you have to do that to get the storage architecture to the limit of what, what it's capable of. Those are the three conditions.swyx: I just wanted to get a little bit of like the motivation, right? Like, so you left Shopify, you're like principal, engineer, infra guy. Um, you also head of kernel labs, uh, inside of Shopify, right?And then you consulted for read wise and that it kind of gave you that, that idea. I just wanted you to tell that story. Um, maybe I, you've told it before, but, uh, just introduce the, the. People to like the, the new workload, the sort of aha moment for turbo PufferSimon Hørup Eskildsen: For sure. So yeah, I spent almost a decade at Shopify.I was on the infrastructure team, um, from the fairly, fairly early days around 2013. Um, at the time it felt like it was growing so quickly and everything, all the metrics were, you know, doubling year on year compared to the, what companies are contending with today. It's very cute in growth. I feel like lot some companies are seeing that month over month.Um, of course. Shopify compound has been compounding for a very long time now, but I spent a decade doing that and the majority of that was just make sure the site is up today and make sure it's up a year from now. And a lot of that was really just the, um, you know, uh, the Kardashians would drive very, very large amounts of, of data to, to uh, to Shopify as they were rotating through all the merch and building out their businesses.And we just needed to make sure we could handle that. Right. And sometimes these were events, a million requests per second. And so, you know, we, we had our own data centers back in the day and we were moving to the cloud and there was so much sharding work and all of that that we were doing. So I spent a decade just scaling databases ‘cause that's fundamentally what's the most difficult thing to scale about these sites.The database that was the most difficult for me to scale during that time, and that was the most aggravating to be on call for, was elastic search. It was very, very difficult to deal with. And I saw a lot of projects that were just being held back in their ambition by using it.swyx: And I mean, self-hosted.Self-hosted. ‘causeSimon Hørup Eskildsen: it's, yeah, and it commercial, this is like 2015, right? So it's like a very particular vintage. Right. It's probably better at a lot of these things now. Um, it was difficult to contend with and I'm just like, I just think about it. It's an inverted index. It should be good at these kinds of queries and do all of this.And it was, we, we often couldn't get it to do exactly what we needed to do or basically get lucine to do, like expose lucine raw to, to, to what we needed to do. Um, so that was like. Just something that we did on the side and just panic scaled when we needed to, but not a particular focus of mine. So I left, and when I left, I, um, wasn't sure exactly what I wanted to do.I mean, it spent like a decade inside of the same company. I'd like grown up there. I started working there when I was 18.swyx: You only do Rails?Simon Hørup Eskildsen: Yeah. I mean, yeah. Rails. And he's a Rails guy. Uh, love Rails. So good. Um,Alessio: we all wish we could still work in Rails.swyx: I know know. I know, but some, I tried learning Ruby.It's just too much, like too many options to do the same thing. It's, that's my, I I know there's a, there's a way to do it.Simon Hørup Eskildsen: I love it. I don't know that I would use it now, like given cloud code and, and, and cursor and everything, but, um, um, but still it, like if I'm just sitting down and writing a teal code, that's how I think.But anyway, I left and I wasn't, I talked to a couple companies and I was like, I don't. I need to see a little bit more of the world here to know what I'm gonna like focus on next. Um, and so what I decided is like I was gonna, I called it like angel engineering, where I just hopped around in my friend's companies in three months increments and just helped them out with something.Right. And, and just vested a bit of equity and solved some interesting infrastructure problem. So I worked with a bunch of companies at the time, um, read Wise was one of them. Replicate was one of them. Um, causal, I dunno if you've tried this, it's like a, it's a spreadsheet engine Yeah. Where you can do distribution.They sold recently. Yeah. Um, we've been, we used that in fp and a at, um, at Turbo Puffer. Um, so a bunch of companies like this and it was super fun. And so we're the Chachi bt moment happened, I was with. With read Wise for a stint, we were preparing for the reader launch, right? Which is where you, you cue articles and read them later.And I was just getting their Postgres up to snuff, like, which basically boils down to tuning, auto vacuum. So I was doing that and then this happened and we were like, oh, maybe we should build a little recommendation engine and some features to try to hook in the lms. They were not that good yet, but it was clear there was something there.And so I built a small recommendation engine just, okay, let's take the articles that you've recently read, right? Like embed all the articles and then do recommendations. It was good enough that when I ran it on one of the co-founders of Rey's, like I found out that I got articles about, about having a child.I'm like, oh my God, I didn't, I, I didn't know that, that they were having a child. I wasn't sure what to do with that information, but the recommendation engine was good enough that it was suggesting articles, um, about that. And so there was, there was recommendations and uh, it actually worked really well.But this was a company that was spending maybe five grand a month in total on all their infrastructure and. When I did the napkin math on running the embeddings of all the articles, putting them into a vector index, putting it in prod, it's gonna be like 30 grand a month. That just wasn't tenable. Right?Like Read Wise is a proudly bootstrapped company and it's paying 30 grand for infrastructure for one feature versus five. It just wasn't tenable. So sort of in the bucket of this is useful, it's pretty good, but let us, let's return to it when the costs come down.swyx: Did you say it grows by feature? So for five to 30 is by the number of, like, what's the, what's the Scaling factor scale?It scales by the number of articles that you embed.Simon Hørup Eskildsen: It does, but what I meant by that is like five grand for like all of the other, like the Heroku, dinos, Postgres, like all the other, and this then storage is 30. Yeah. And then like 30 grand for one feature. Right. Which is like, what other articles are related to this one.Um, so it was just too much right to, to power everything. Their budget would've been maybe a few thousand dollars, which still would've been a lot. And so we put it in a bucket of, okay, we're gonna do that later. We'll wait, we will wait for the cost to come down. And that haunted me. I couldn't stop thinking about it.I was like, okay, there's clearly some latent demand here. If the cost had been a 10th, we would've shipped it and. This was really the only data point that I had. Right. I didn't, I, I didn't, I didn't go out and talk to anyone else. It was just so I started reading Right. I couldn't, I couldn't help myself.Like I didn't know what like a vector index is. I, I generally barely do about how to generate the vectors. There was a lot of hype about, this is a early 2023. There was a lot of hype about vector databases. There were raising a lot of money and it's like, I really didn't know anything about it. It's like, you know, trying these little models, fine tuning them.Like I was just trying to get sort of a lay of the land. So I just sat down. I have this. A GitHub repository called Napkin Math. And on napkin math, there's just, um, rows of like, oh, this is how much bandwidth. Like this is how many, you know, you can do 25 gigabytes per second on average to dram. You can do, you know, five gigabytes per second of rights to an SSD, blah blah.All of these numbers, right? And S3, how many you could do per, how much bandwidth can you drive per connection? I was just sitting down, I was like, why hasn't anyone build a database where you just put everything on O storage and then you puff it into NVME when you use the data and you puff it into dram if you're, if you're querying it alive, it's just like, this seems fairly obvious and you, the only real downside to that is that if you go all in on o storage, every right will take a couple hundred milliseconds of latency, but from there it's really all upside, right?You do the first go, it takes half a second. And it sort of occurred to me as like, well. The architecture is really good for that. It's really good for AB storage, it's really good for nvm ESSD. It's, well, you just couldn't have done that 10 years ago. Back to what we were talking about before. You really have to build a database where you have as few round trips as possible, right?This is how CPUs work today. It's how NVM E SSDs work. It's how as, um, as three works that you want to have a very large amount of outstanding requests, right? Like basically go to S3, do like that thousand requests to ask for data in one round trip. Wait for that. Get that, like, make a new decision. Do it again, and try to do that maybe a maximum of three times.But no databases were designed that way within NVME as is ds. You can drive like within, you know, within a very low multiple of DRAM bandwidth if you use it that way. And same with S3, right? You can fully max out the network card, which generally is not maxed out. You get very, like, very, very good bandwidth.And, but no one had built a database like that. So I was like, okay, well can't you just, you know, take all the vectors right? And plot them in the proverbial coordinate system. Get the clusters, put a file on S3 called clusters, do json, and then put another file for every cluster, you know, cluster one, do js O cluster two, do js ON you know that like it's two round trips, right?So you get the clusters, you find the closest clusters, and then you download the cluster files like the, the closest end. And you could do this in two round trips.swyx: You were nearest neighbors locally.Simon Hørup Eskildsen: Yes. Yes. And then, and you would build this, this file, right? It's just like ultra simplistic, but it's not a far shot from what the first version of Turbo Buffer was.Why hasn't anyone done thatAlessio: in that moment? From a workload perspective, you're thinking this is gonna be like a read heavy thing because they're doing recommend. Like is the fact that like writes are so expensive now? Oh, with ai you're actually not writing that much.Simon Hørup Eskildsen: At that point I hadn't really thought too much about, well no actually it was always clear to me that there was gonna be a lot of rights because at Shopify, the search clusters were doing, you know, I don't know, tens or hundreds of crew QPS, right?‘cause you just have to have a human sit and type in. But we did, you know, I don't know how many updates there were per second. I'm sure it was in the millions, right into the cluster. So I always knew there was like a 10 to 100 ratio on the read write. In the read wise use case. It's, um, even, even in the read wise use case, there'd probably be a lot fewer reads than writes, right?There's just a lot of churn on the amount of stuff that was going through versus the amount of queries. Um, I wasn't thinking too much about that. I was mostly just thinking about what's the fundamentally cheapest way to build a database in the cloud today using the primitives that you have available.And this is it, right? You just, now you have one machine and you know, let's say you have a terabyte of data in S3, you paid the $200 a month for that, and then maybe five to 10% of that data and needs to be an NV ME SSDs and less than that in dram. Well. You're paying very, very little to inflate the data.swyx: By the way, when you say no one else has done that, uh, would you consider Neon, uh, to be on a similar path in terms of being sort of S3 first and, uh, separating the compute and storage?Simon Hørup Eskildsen: Yeah, I think what I meant with that is, uh, just build a completely new database. I don't know if we were the first, like it was very much, it was, I mean, I, I hadn't, I just looked at the napkin math and was like, this seems really obvious.So I'm sure like a hundred people came up with it at the same time. Like the light bulb and every invention ever. Right. It was just in the air. I think Neon Neon was, was first to it. And they're trying, they're retrofitted onto Postgres, right? And then they built this whole architecture where you have, you have it in memory and then you sort of.You know, m map back to S3. And I think that was very novel at the time to do it for, for all LTP, but I hadn't seen a database that was truly all in, right. Not retrofitting it. The database felt built purely for this no consensus layer. Even using compare and swap on optic storage to do consensus. I hadn't seen anyone go that all in.And I, I mean, there, there, I'm sure there was someone that did that before us. I don't know. I was just looking at the napkin mathswyx: and, and when you say consensus layer, uh, are you strongly relying on S3 Strong consistency? You are. Okay.SoSimon Hørup Eskildsen: that is your consensus layer. It, it is the consistency layer. And I think also, like, this is something that most people don't realize, but S3 only became consistent in December of 2020.swyx: I remember this coming out during COVID and like people were like, oh, like, it was like, uh, it was just like a free upgrade.Simon Hørup Eskildsen: Yeah.swyx: They were just, they just announced it. We saw consistency guys and like, okay, cool.Simon Hørup Eskildsen: And I'm sure that they just, they probably had it in prod for a while and they're just like, it's done right.And people were like, okay, cool. But. That's a big moment, right? Like nv, ME SSDs, were also not in the cloud until around 2017, right? So you just sort of had like 2017 nv, ME SSDs, and people were like, okay, cool. There's like one skew that does this, whatever, right? Takes a few years. And then the second thing is like S3 becomes consistent in 2020.So now it means you don't have to have this like big foundation DB or like zookeeper or whatever sitting there contending with the keys, which is how. You know, that's what Snowflake and others have do so muchswyx: for goneSimon Hørup Eskildsen: Exactly. Just gone. Right? And so just push to the, you know, whatever, how many hundreds of people they have working on S3 solved and then compare and swap was not in S3 at this point in time,swyx: by the way.Uh, I don't know what that is, so maybe you wanna explain. Yes. Yeah.Simon Hørup Eskildsen: Yes. So, um, what Compare and swap is, is basically, you can imagine that if you have a database, it might be really nice to have a file called metadata json. And metadata JSON could say things like, Hey, these keys are here and this file means that, and there's lots of metadata that you have to operate in the database, right?But that's the simplest way to do it. So now you have might, you might have a lot of servers that wanna change the metadata. They might have written a file and want the metadata to contain that file. But you have a hundred nodes that are trying to contend with this metadata that JSON well, what compare and Swap allows you to do is basically just you download the file, you make the modifications, and then you write it only if it hasn't changed.While you did the modification and if not you retry. Right? Should just have this retry loops. Now you can imagine if you have a hundred nodes doing that, it's gonna be really slow, but it will converge over time. That primitive was not available in S3. It wasn't available in S3 until late 2024, but it was available in GCP.The real story of this is certainly not that I sat down and like bake brained it. I was like, okay, we're gonna start on GCS S3 is gonna get it later. Like it was really not that we started, we got really lucky, like we started on GCP and we started on GCP because tur um, Shopify ran on GCP. And so that was the platform I was most available with.Right. Um, and I knew the Canadian team there ‘cause I'd worked with them at Shopify and so it was natural for us to start there. And so when we started building the database, we're like, oh yeah, we have to build a, we really thought we had to build a consensus layer, like have a zookeeper or something to do this.But then we discovered the compare and swap. It's like, oh, we can kick the can. Like we'll just do metadata r json and just, it's fine. It's probably fine. Um, and we just kept kicking the can until we had very, very strong conviction in the idea. Um, and then we kind of just hinged the company on the fact that S3 probably was gonna get this, it started getting really painful in like mid 2024.‘cause we were closing deals with, um, um, notion actually that was running in AWS and we're like, trust us. You, you really want us to run this in GCP? And they're like, no, I don't know about that. Like, we're running everything in AWS and the latency across the cloud were so big and we had so much conviction that we bought like, you know, dark fiber between the AWS regions in, in Oregon, like in the InterExchange and GCP is like, we've never seen a startup like do like, what's going on here?And we're just like, no, we don't wanna do this. We were tuning like TCP windows, like everything to get the latency down ‘cause we had so high conviction in not doing like a, a metadata layer on S3. So those were the three conditions, right? Compare and swap. To do metadata, which wasn't in S3 until late 2024 S3 being consistent, which didn't happen until December, 2020.Uh, 2020. And then NVMe ssd, which didn't end in the cloud until 2017.swyx: I mean, in some ways, like a very big like cloud success story that like you were able to like, uh, put this all together, but also doing things like doing, uh, bind our favor. That that actually is something I've never heard.Simon Hørup Eskildsen: I mean, it's very common when you're a big company, right?You're like connecting your own like data center or whatever. But it's like, it was uniquely just a pain with notion because the, um, the org, like most of the, like if you're buying in Ashburn, Virginia, right? Like US East, the Google, like the GCP and, and AWS data centers are like within a millisecond on, on each other, on the public exchanges.But in Oregon uniquely, the GCP data center sits like a couple hundred kilometers, like east of Portland and the AWS region sits in Portland, but the network exchange they go through is through Seattle. So it's like a full, like 14 milliseconds or something like that. And so anyway, yeah. It's, it's, so we were like, okay, we can't, we have to go through an exchange in Portland.Yeah. Andswyx: you'd rather do this than like run your zookeeper and likeSimon Hørup Eskildsen: Yes. Way rather. It doesn't have state, I don't want state and two systems. Um, and I think all that is just informed by Justine, my co-founder and I had just been on call for so long. And the worst outages are the ones where you have state in multiple places that's not syncing up.So it really came from, from a a, like just a, a very pure source of pain, of just imagining what we would be Okay. Being woken up at 3:00 AM about and having something in zookeeper was not one of them.swyx: You, you're talking to like a notion or something. Do they care or do they just, theySimon Hørup Eskildsen: just, they care about latency.swyx: They latency cost. That's it.Simon Hørup Eskildsen: They just cared about latency. Right. And we just absorbed the cost. We're just like, we have high conviction in this. At some point we can move them to AWS. Right. And so we just, we, we'll buy the fiber, it doesn't matter. Right. Um, and it's like $5,000. Usually when you buy fiber, you buy like multiple lines.And we're like, we can only afford one, but we will just test it that when it goes over the public internet, it's like super smooth. And so we did a lot of, anyway, it's, yeah, it was, that's cool.Alessio: You can imagine talking to the GCP rep and it's like, no, we're gonna buy, because we know we're gonna turn, we're gonna turn from you guys and go to AWS in like six months.But in the meantime we'll do this. It'sSimon Hørup Eskildsen: a, I mean, like they, you know, this workload still runs on GCP for what it's worth. Right? ‘cause it's so, it was just, it was so reliable. So it was never about moving off GCP, it was just about honesty. It was just about giving notion the latency that they deserved.Right. Um, and we didn't want ‘em to have to care about any of this. We also, they were like, oh, egress is gonna be bad. It was like, okay, screw it. Like we're just gonna like vvc, VPC peer with you and AWS we'll eat the cost. Yeah. Whatever needs to be done.Alessio: And what were the actual workloads? Because I think when you think about ai, it's like 14 milliseconds.It's like really doesn't really matter in the scheme of like a model generation.Simon Hørup Eskildsen: Yeah. We were told the latency, right. That we had to beat. Oh, right. So, so we're just looking at the traces. Right. And then sort of like hand draw, like, you know, kind of like looking at the trace and then thinking what are the other extensions of the trace?Right. And there's a lot more to it because it's also when you have, if you have 14 versus seven milliseconds, right. You can fit in another round trip. So we had to tune TCP to try to send as much data in every round trip, prewarm all the connections. And there was, there's a lot of things that compound from having these kinds of round trips, but in the grand scheme it was just like, well, we have to beat the latency of whatever we're up against.swyx: Which is like they, I mean, notion is a database company. They could have done this themselves. They, they do lots of database engineering themselves. How do you even get in the door? Like Yeah, just like talk through that kind of.Simon Hørup Eskildsen: Last time I was in San Francisco, I was talking to one of the engineers actually, who, who was one of our champions, um, at, AT Notion.And they were, they were just trying to make sure that the, you know, per user cost matched the economics that they needed. You know, Uhhuh like, it's like the way I think about, it's like I have to earn a return on whatever the clouds charge me and then my customers have to earn a return on that. And it's like very simple, right?And so there has to be gross margin all the way up and that's how you build the product. And so then our customers have to make the right set of trade off the turbo Puffer makes, and if they're happy with that, that's great.swyx: Do you feel like you're competing with build internally versus buy or buy versus buy?Simon Hørup Eskildsen: Yeah, so, sorry, this was all to build up to your question. So one of the notion engineers told me that they'd sat and probably on a napkin, like drawn out like, why hasn't anyone built this? And then they saw terrible. It was like, well, it literally that. So, and I think AI has also changed the buy versus build equation in terms of, it's not really about can we build it, it's about do we have time to build it?I think they like, I think they felt like, okay, if this is a team that can do that and they, they feel enough like an extension of our team, well then we can go a lot faster, which would be very, very good for them. And I mean, they put us through the, through the test, right? Like we had some very, very long nights to to, to do that POC.And they were really our biggest, our second big customer off the cursor, which also was a lot of late nights. Right.swyx: Yeah. That, I mean, should we go into that story? The, the, the sort of Chris's story, like a lot, um, they credit you a lot for. Working very closely with them. So I just wanna hear, I've heard this, uh, story from Sole's point of view, but like, I'm curious what, what it looks like from your side.Simon Hørup Eskildsen: I actually haven't heard it from Sole's point of view, so maybe you can now cross reference it. The way that I remember it was that, um, the day after we launched, which was just, you know, I'd worked the whole summer on, on the first version. Justine wasn't part of it yet. ‘cause I just, I didn't tell anyone that summer that I was working on this.I was just locked in on building it because it's very easy otherwise to confuse talking about something to actually doing it. And so I was just like, I'm not gonna do that. I'm just gonna do the thing. I launched it and at this point turbo puffer is like a rust binary running on a single eight core machine in a T Marks instance.And me deploying it was like looking at the request log and then like command seeing it or like control seeing it to just like, okay, there's no request. Let's upgrade the binary. Like it was like literally the, the, the, the scrappiest thing. You could imagine it was on purpose because just like at Shopify, we did that all the time.Like, we like move, like we ran things in tux all the time to begin with. Before something had like, at least the inkling of PMF, it was like, okay, is anyone gonna hear about this? Um, and one of the cursor co-founders Arvid reached out and he just, you know, the, the cursor team are like all I-O-I-I-M-O like, um, contenders, right?So they just speak in bullet points and, and facts. It was like this amazing email exchange just of, this is how many QPS we have, this is what we're paying, this is where we're going, blah, blah, blah. And so we're just conversing in bullet points. And I tried to get a call with them a few times, but they were, so, they were like really writing the PMF bowl here, just like late 2023.And one time Swally emails me at like five. What was it like 4:00 AM Pacific time saying like, Hey, are you open for a call now? And I'm on the East coast and I, it was like 7:00 AM I was like, yeah, great, sure, whatever. Um, and we just started talking and something. Then I didn't know anything about sales.It was something that just comp compelled me. I have to go see this team. Like, there's something here. So I, I went to San Francisco and I went to their office and the way that I remember it is that Postgres was down when I showed up at the office. Did SW tell you this? No. Okay. So Postgres was down and so it's like they were distracting with that.And I was trying my best to see if I could, if I could help in any way. Like I knew a little bit about databases back to tuning, auto vacuum. It was like, I think you have to tune out a vacuum. Um, and so we, we talked about that and then, um, that evening just talked about like what would it look like, what would it look like to work with us?And I just said. Look like we're all in, like we will just do what we'll do whatever, whatever you tell us, right? They migrated everything over the next like week or two, and we reduced their cost by 95%, which I think like kind of fixed their per user economics. Um, and it solved a lot of other things. And we were just, Justine, this is also when I asked Justine to come on as my co-founder, she was the best engineer, um, that I ever worked with at Shopify.She lived two blocks away and we were just, okay, we're just gonna get this done. Um, and we did, and so we helped them migrate and we just worked like hell over the next like month or two to make sure that we were never an issue. And that was, that was the cursor story. Yeah.swyx: And, and is code a different workload than normal text?I, I don't know. Is is it just text? Is it the same thing?Simon Hørup Eskildsen: Yeah, so cursor's workload is basically, they, um, they will embed the entire code base, right? So they, they will like chunk it up in whatever they would, they do. They have their own embedding model, um, which they've been public about. Um, and they find that on, on, on their evals.It. There's one of their evals where it's like a 25% improvement on a very particular workload. They have a bunch of blog posts about it. Um, I think it works best on larger code basis, but they've trained their own embedding model to do this. Um, and so you'll see it if you use the cursor agent, it will do searches.And they've also been public around, um, how they've, I think they post trained their model to be very good at semantic search as well. Um, and that's, that's how they use it. And so it's very good at, like, can you find me on the code that's similar to this, or code that does this? And just in, in this queries, they also use GR to supplement it.swyx: Yeah.Simon Hørup Eskildsen: Um, of courseswyx: it's been a big topic of discussion like, is rag dead because gr you know,Simon Hørup Eskildsen: and I mean like, I just, we, we see lots of demand from the coding company to ethicsswyx: search in every part. Yes.Simon Hørup Eskildsen: Uh, we, we, we see demand. And so, I mean, I'm. I like case studies. I don't like, like just doing like thought pieces on this is where it's going.And like trying to be all macroeconomic about ai, that's has turned out to be a giant waste of time because no one can really predict any of this. So I just collect case studies and I mean, cursor has done a great job talking about what they're doing and I hope some of the other coding labs that use Turbo Puffer will do the same.Um, but it does seem to make a difference for particular queries. Um, I mean we can also do text, we can also do RegX, but I should also say that cursors like security posture into Tur Puffer is exceptional, right? They have their own embedding model, which makes it very difficult to reverse engineer. They obfuscate the file paths.They like you. It's very difficult to learn anything about a code base by looking at it. And the other thing they do too is that for their customers, they encrypt it with their encryption keys in turbo puffer's bucket. Um, so it's, it's, it's really, really well designed.swyx: And so this is like extra stuff they did to work with you because you are not part of Cursor.Exactly like, and this is just best practice when working in any database, not just you guys. Okay. Yeah, that makes sense. Yeah. I think for me, like the, the, the learning is kind of like you, like all workloads are hybrid. Like, you know, uh, like you, you want the semantic, you want the text, you want the RegX, you want sql.I dunno. Um, but like, it's silly to like be all in on like one particularly query pattern.Simon Hørup Eskildsen: I think, like I really like the way that, um, um, that swally at cursor talks about it, which is, um, I'm gonna butcher it here. Um, and you know, I'm a, I'm a database scalability person. I'm not a, I, I dunno anything about training models other than, um, what the internet tells me and what.The way he describes is that this is just like cash compute, right? It's like you have a point in time where you're looking at some particular context and focused on some chunk and you say, this is the layer of the neural net at this point in time. That seems fundamentally really useful to do cash compute like that.And, um, how the value of that will change over time. I'm, I'm not sure, but there seems to be a lot of value in that.Alessio: Maybe talk a bit about the evolution of the workload, because even like search, like maybe two years ago it was like one search at the start of like an LLM query to build the context. Now you have a gentech search, however you wanna call it, where like the model is both writing and changing the code and it's searching it again later.Yeah. What are maybe some of the new types of workloads or like changes you've had to make to your architecture for it?Simon Hørup Eskildsen: I think you're right. When I think of rag, I think of, Hey, there's an 8,000 token, uh, context window and you better make it count. Um, and search was a way to do that now. Everything is moving towards the, just let the agent do its thing.Right? And so back to the thing before, right? The LLM is very good at reasoning with the data, and so we're just the tool call, right? And that's increasingly what we see our customers doing. Um, what we're seeing more demand from, from our customers now is to do a lot of concurrency, right? Like Notion does a ridiculous amount of queries in every round trip just because they can't.And I'm also now, when I use the cursor agent, I also see them doing more concurrency than I've ever seen before. So a bit similar to how we designed a database to drive as much concurrency in every round trip as possible. That's also what the agents are doing. So that's new. It means just an enormous amount of queries all at once to the dataset while it's warm in as few turns as possible.swyx: Can I clarify one thing on that?Simon Hørup Eskildsen: Yes.swyx: Is it, are they batching multiple users or one user is driving multiple,Simon Hørup Eskildsen: one user driving multiple, one agent driving.swyx: It's parallel searching a bunch of things.Simon Hørup Eskildsen: Exactly.swyx: Yeah. Yeah, exactly. So yeah, the clinician also did, did this for the fast context thing, like eight parallel at once.Simon Hørup Eskildsen: Yes.swyx: And, and like an interesting problem is, well, how do you make sure you have enough diversity so you're not making the the same request eight times?Simon Hørup Eskildsen: And I think like that's probably also where the hybrid comes in, where. That's another way to diversify. It's a completely different way to, to do the search.That's a big change, right? So before it was really just like one call and then, you know, the LLM took however many seconds to return, but now we just see an enormous amount of queries. So the, um, we just see more queries. So we've like tried to reduce query, we've reduced query pricing. Um, this is probably the first time actually I'm saying that, but the query pricing is being reduced, like five x.Um, and we'll probably try to reduce it even more to accommodate some of these workloads of just doing very large amounts of queries. Um, that's one thing that's changed. I think the right, the right ratio is still very high, right? Like there's still a, an enormous amount of rights per read, but we're starting probably to see that change if people really lean into this pattern.Alessio: Can we talk a little bit about the pricing? I'm curious, uh, because traditionally a database would charge on storage, but now you have the token generation that is so expensive, where like the actual. Value of like a good search query is like much higher because they're like saving inference time down the line.How do you structure that as like, what are people receptive to on the other side too?Simon Hørup Eskildsen: Yeah. I, the, the turbo puffer pricing in the beginning was just very simple. The pricing on these on for search engines before Turbo Puffer was very server full, right? It was like, here's the vm, here's the per hour cost, right?Great. And I just sat down with like a piece of paper and said like, if Turbo Puffer was like really good, this is probably what it would cost with a little bit of margin. And that was the first pricing of Turbo Puffer. And I just like sat down and I was like, okay, like this is like probably the storage amp, but whenever on a piece of paper I, it was vibe pricing.It was very vibe price, and I got it wrong. Oh. Um, well I didn't get it wrong, but like Turbo Puffer wasn't at the first principle pricing, right? So when Cursor came on Turbo Puffer, it was like. Like, I didn't know any VCs. I didn't know, like I was just like, I don't know, I didn't know anything about raising money or anything like that.I just saw that my GCP bill was, was high, was a lot higher than the cursor bill. So Justine and I was just like, well, we have to optimize it. Um, and I mean, to the chagrin now of, of it, of, of the VCs, it now means that we're profitable because we've had so much pricing pressure in the beginning. Because it was running on my credit card and Justine and I had spent like, like tens of thousands of dollars on like compute bills and like spinning off the company and like very like, like bad Canadian lawyers and like things like to like get all of this done because we just like, we didn't know.Right. If you're like steeped in San Francisco, you're just like, you just know. Okay. Like you go out, raise a pre-seed round. I, I never heard a word pre-seed at this point in time.swyx: When you had Cursor, you had Notion you, you had no funding.Simon Hørup Eskildsen: Um, with Cursor we had no funding. Yeah. Um, by the time we had Notion Locke was, Locke was here.Yeah. So it was really just, we vibe priced it 100% from first Principles, but it wasn't, it, it was not performing at first principles, so we just did everything we could to optimize it in the beginning for that, so that at least we could have like a 5% margin or something. So I wasn't freaking out because Cursor's bill was also going like this as they were growing.And so my liability and my credit limit was like actively like calling my bank. It was like, I need a bigger credit. Like it was, yeah. Anyway, that was the beginning. Yeah. But the pricing was, yeah, like storage rights and query. Right. And the, the pricing we have today is basically just that pricing with duct tape and spit to try to approach like, you know, like a, as a margin on the physical underlying hardware.And we're doing this year, you're gonna see more and more pricing changes from us. Yeah.swyx: And like is how much does stuff like VVC peering matter because you're working in AWS land where egress is charged and all that, you know.Simon Hørup Eskildsen: We probably don't like, we have like an enterprise plan that just has like a base fee because we haven't had time to figure out SKU pricing for all of this.Um, but I mean, yeah, you can run turbo puffer either in SaaS, right? That's what Cursor does. You can run it in a single tenant cluster. So it's just you. That's what Notion does. And then you can run it in, in, in BYOC where everything is inside the customer's VPC, that's what an for example, philanthropic does.swyx: What I'm hearing is that this is probably the best CRO job for somebody who can come in and,Simon Hørup Eskildsen: I mean,swyx: help you with this.Simon Hørup Eskildsen: Um, like Turbo Puffer hired, like, I don't know what, what number this was, but we had a full-time CFO as like the 12th hire or something at Turbo Puffer, um, I think I hear are a lot of comp.I don't know how they do it. Like they have a hundred employees and not a CFO. It's like having a CFO is like a runningswyx: business man. Like, you know,Simon Hørup Eskildsen: it's so good. Yeah, like money Mike, like he just, you know, just handles the money and a lot of the business stuff and so he came in and just hopped with a lot of the operational side of the business.So like C-O-O-C-F-O, like somewhere in between.swyx: Just as quick mention of Lucky, just ‘cause I'm curious, I've met Lock and like, he's obviously a very good investor and now on physical intelligence, um, I call it generalist super angel, right? He invests in everything. Um, and I always wonder like, you know, is there something appealing about focusing on developer tooling, focusing on databases, going like, I've invested for 10 years in databases versus being like a lock where he can maybe like connect you to all the customers that you need.Simon Hørup Eskildsen: This is an excellent question. No, no one's asked me this. Um, why lockey? Because. There was a couple of people that we were talking to at the time and when we were raising, we were almost a little, we were like a bit distressed because one of our, one of our peers had just launched something that was very similar to Turbo Puffer.And someone just gave me the advice at the time of just choose the person where you just feel like you can just pick up the phone and not prepare anything. And just be completely honest, and I don't think I've said this publicly before, but I just called Lockey and was like local Lockie. Like if this doesn't have PMF by the end of the year, like we'll just like return all the money to you.But it's just like, I don't really, we, Justine and I don't wanna work on this unless it's really working. So we want to give it the best shot this year and like we're really gonna go for it. We're gonna hire a bunch of people and we're just gonna be honest with everyone. Like when I don't know how to play a game, I just play with open cards and.Lockey was the only person that didn't, that didn't freak out. He was like, I've never heard anyone say that before. As I said, I didn't even know what a seed or pre-seed round was like before, probably even at this time. So I was just like very honest with him. And I asked him like, Lockie, have you ever have, have you ever invested in database company?He was just like, no. And at the time I was like, am I dumb? Like, but I think there was something that just like really drew me to Lockie. He is so authentic, so honest, like, and there was something just like, I just felt like I could just play like, just say everything openly. And that was, that was, I think that that was like a perfect match at the time, and, and, and honestly still is.He was just like, okay, that's great. This is like the most honest, ridiculous thing I've ever heard anyone say to me. But like that, like that, whyswyx: is this ridiculous? Say competitor launch, this may not work out. It wasSimon Hørup Eskildsen: more just like. If this doesn't work out, I'm gonna close up shop by the end of the mo the year, right?Like it was, I don't know, maybe it's common. I, I don't know. He told me it was uncommon. I don't know. Um, that's why we chose him and he'd been phenomenal. The other people were talking at the, at the time were database experts. Like they, you know, knew a lot about databases and Locke didn't, this turned out to be a phenomenal asset.Right. I like Justine and I know a lot about databases. The people that we hire know a lot about databases. What we needed was just someone who didn't know a lot about databases, didn't pretend to know a lot about databases, and just wanted to help us with candidates and customers. And he did. Yeah. And I have a list, right, of the investors that I have a relationship with, and Lockey has just performed excellent in the number of sub bullets of what we can attribute back to him.Just absolutely incredible. And when people talk about like no ego and just the best thing for the founder, I like, I don't think that anyone, like even my lawyer is like, yeah, Lockey is like the most friendly person you will find.swyx: Okay. This is my most glow recommendation I've ever heard.Alessio: He deserves it.He's very special.swyx: Yeah. Yeah. Yeah. Okay. Amazing.Alessio: Since you mentioned candidates, maybe we can talk about team building, you know, like, especially in sf, it feels like it's just easier to start a company than to join a company. Uh, I'm curious your experience, especially not being n SF full-time and doing something that is maybe, you know, a very low level of detail and technical detail.Simon Hørup Eskildsen: Yeah. So joining versus starting, I never thought that I would be a founder. I would start with it, like Turbo Puffer started as a blog post, and then it became a project and then sort of almost accidentally became a company. And now it feels like it's, it's like becoming a bigger company. That was never the intention.The intentions were very pure. It's just like, why hasn't anyone done this? And it's like, I wanna be the, like, I wanna be the first person to do it. I think some founders have this, like, I could never work for anyone else. I, I really don't feel that way. Like, it's just like, I wanna see this happen. And I wanna see it happen with some people that I really enjoy working with and I wanna have fun doing it and this, this, this has all felt very natural on that, on that sense.So it was never a like join versus versus versus found. It was just dis found me at the right moment.Alessio: Well I think there's an argument for, you should have joined Cursor, right? So I'm curious like how you evaluate it. Okay, I should actually go raise money and make this a company versus like, this is like a company that is like growing like crazy.It's like an interesting technical problem. I should just build it within Cursor and then they don't have to encrypt all this stuff. They don't have to obfuscate things. Like was that on your mind at all orSimon Hørup Eskildsen: before taking the, the small check from Lockie, I did have like a hard like look at myself in the mirror of like, okay, do I really want to do this?And because if I take the money, I really have to do it right. And so the way I almost think about it's like you kind of need to ha like you kind of need to be like fucked up enough to want to go all the way. And that was the conversation where I was like, okay, this is gonna be part of my life's journey to build this company and do it in the best way that I possibly can't.Because if I ask people to join me, ask people to get on the cap table, then I have an ultimate responsibility to give it everything. And I don't, I think some people, it doesn't occur to me that everyone takes it that seriously. And maybe I take it too seriously, I don't know. But that was like a very intentional moment.And so then it was very clear like, okay, I'm gonna do this and I'm gonna give it everything.Alessio: A lot of people don't take it this seriously. But,swyx: uh, let's talk about, you have this concept of the P 99 engineer. Uh, people are 10 x saying, everyone's saying, you know, uh, maybe engineers are out of a job. I don't know.But you definitely see a P 99 engineer, and I just want you to talk about it.Simon Hørup Eskildsen: Yeah, so the P 99 engineer was just a term that we started using internally to talk about candidates and talk about how we wanted to build the company. And you know, like everyone else is, like we want a talent dense company.And I think that's almost become trite at this point. What I credit the cursor founders a lot with is that they just arrived there from first principles of like, we just need a talent dense, um, talent dense team. And I think I've seen some teams that weren't talent dense and like seemed a counterfactual run, which if you've run in been in a large company, you will just see that like it's just logically will happen at a large company.Um, and so that was super important to me and Justine and it's very difficult to maintain. And so we just needed, we needed wording for it. And so I have a document called Traits of the P 99 Engineer, and it's a bullet point list. And I look at that list after every single interview that I do, and in every single recap that we do and every recap we end with.End with, um, some version of I'm gonna reject this candidate completely regardless of what the discourse was, because I wanna see people fight for this person because the default should not be, we're gonna hire this person. The default should be, we're definitely not hiring this person. And you know, if everyone was like, ah, maybe throw a punch, then this is not the right.swyx: Do, do you operate, like if there's one cha there must have at least one champion who's like, yes, I will put my career on, on, on the line for this. You know,Simon Hørup Eskildsen: I think career on the line,swyx: maybe a chair, butSimon Hørup Eskildsen: yeah. You know, like, um, I would say so someone needs to like, have both fists up and be like, I'd fight.Right? Yeah. Yeah. And if one person said, then, okay, let's do it. Right?swyx: Yeah.Simon Hørup Eskildsen: Um. It doesn't have to be absolutely everyone. Right? And like the interviews are always the sign that you're checking for different attributes. And if someone is like knocking it outta the park in every single attribute, that's, that's fairly rare.Um, but that's really important. And so the traits of the P 99 engineer, there's lots of them. There's also the traits of the p like triple nine engineer and the quadruple nine engineer. This is like, it's a long list.swyx: Okay.Simon Hørup Eskildsen: Um, I'll give you some samples, right. Of what we, what we look for. I think that the P 99 engineer has some history of having bent, like their trajectory or something to their will.Right? Some moment where it was just, they just, you know, made the computer do what it needed to do. There's something like that, and it will, it will occur to have them at some point in their career. And, uh. Hopefully multiple times. Right.swyx: Gimme an example of one of your engineers that like,Simon Hørup Eskildsen: I'll give an eng.Uh, so we, we, we launched this thing called A and NV three. Um, we could, we're also, we're working on V four and V five right now, but a and NV three can search a hundred billion vectors with a P 50 of around 40 milliseconds and a p 99 of 200 milliseconds. Um, maybe other people have done this, I'm sure Google and others have done this, but, uh, we haven't seen anyone, um, at least not in like a public consumable SaaS that can do this.And that was an engineer, the chief architect of Turbo Puffer, Nathan, um, who more or less just bent this, the software was not capable of this and he just made it capable for a very particular workload in like a, you know, six to eight week period with the help of a lot of the team. Right. It's been, been, there's numerous of examples of that, like at, at turbo puff, but that's like really bending the software and X 86 to your will.It was incredible to watch. Um. You wanna see some moments like that?swyx: Isn't that triple nine?Simon Hørup Eskildsen: Um, I think Nathan, what's calledAlessio: group nine, that was only nine. I feel like this is too high forSimon Hørup Eskildsen: Nathan. Nathan is, uh, Nathan is like, yeah, there's a lot of nines. Okay. After that p So I think that's one trait. I think another trait is that, uh, the P 99 spends a lot of time looking at maps.Generally it's their preferred ux. They just love looking at maps. You ever seen someone who just like, sits on their phone and just like, scrolls around on a map? Or did you not look at maps A lot? You guys don't look atswyx: maps? I guess I'm not feeling there. I don't know, butSimon Hørup Eskildsen: you just dis What about trains?Do you like trains?swyx: Uh, I mean they, not enough. Okay. This is just like weapon nice. Autism is what I call it. Like, like,Simon Hørup Eskildsen: um, I love looking at maps, like, it's like my preferred UX and just like I, you know, I likeswyx: lotsAlessio: of, of like random places, soswyx: like,youswyx: know.Alessio: Yes. Okay. There you go. So instead of like random places, like how do you explore the maps?Simon Hørup Eskildsen: No, it's, it's just a joke.swyx: It's autism laugh. It's like you are just obsessed by something and you like studying a thing.Simon Hørup Eskildsen: The origin of this was that at some point I read an interview with some IOI gold medalistswyx: Uhhuh,Simon Hørup Eskildsen: and it's like, what do you do in your spare time? I was just like, I like looking at maps.I was like, I feel so seen. Like, I just like love, like swirling out. I was like, oh, Canada is so big. Where's Baffin Island? I don't know. I love it. Yeah. Um, anyway, so the traits of P 99, P 99 is obsessive, right? Like, there's just like, you'll, you'll find traits of that we do an interview at, at, at, at turbo puffer or like multiple interviews that just try to screen for some of these things.Um, so. There's lots of others, but these are the kinds of traits that we look for.swyx: I'll tell you, uh, some people listen for like some of my dere stuff. Uh, I do think about derel as maps. Um, you draw a map for people, uh, maps show you the, uh, what is commonly agreed to be the geographical features of what a boundary is.And it shows also shows you what is not doing. And I, I think a lot of like developer tools, companies try to tell you they can do everything, but like, let's, let's be real. Like you, your, your three landmarks are here, everyone comes here, then here, then here, and you draw a map and, and then you draw a journey through the map.And like that. To me, that's what developer relations looks like. So I do think about things that way.Simon Hørup Eskildsen: I think the P 99 thinks in offs, right? The P 99 is very clear about, you know, hey, turbo puffer, you can't run a high transaction workload on turbo puffer, right? It's like the right latency is a hundred milliseconds.That's a clear trade off. I think the P 99 is very good at articulating the trade offs in every decision. Um. Which is exactly what the map is in your case, right?swyx: Uh, yeah, yeah. My, my, my world. My world.Alessio: How, how do you reconcile some of these things when you're saying you bend the will the computer versus like the trade

Douglas Ell grew up in Connecticut, and graduated early from MIT, where he double majored in math and physics. He then obtained a masters in theoretical mathematics from the University of Maryland. After graduating from law school, magna cum laude, he became a prominent attorney. His legal training and work, combined with his academic science background and a lifetime of independent study, has given him a uniquely grounded approach to science, religion, and philosophy. He is a proponent of Intelligent Design and takes the Bible literally.  We talk about math and art, physics and how it led him to God, the three laws of thermodynamics, the universe and time, the fine tuning of the universe, why anything exists at all, atheism, Christianity, how all life runs on code (DNA), SETI, evolution and natural selection, entropy, deep time, Carbon-14 dating and rediometric dating, quantum entanglement, intelligent design, suboptimal design, his book Counting to God, the James Webb Telescope, cosmology, and more. links are on the podcast shownotes page support the show through Patreon

Send a textIn this episode, we sit down with Kate Baumann, Head of Investor Relations at Empyrean Capital Partners (a $3 billion event-driven, multi-strategy hedge fund), LIVE from iConnections in Miami. Here's the thing nobody tells you: the amount of money a hedge fund manages — its AUM — is the single biggest driver of how much everyone at that fund gets paid. The 2% management fee is what funds the operation, allows traders to generate good returns (alpha) which then can pay top talent, and creates the flywheel that attracts more capital and better talent. Kate explains exactly how that fundraising engine works, from identifying which allocators (pensions, endowments, sovereign wealth funds) are the right fit, to running competitive analysis against peer funds, to crafting the narrative that gets an investment committee to say yes. She also gets into the five pillars of Empyrean's event-driven strategy, transactional, structural, stress/distressed, and legal/regulatory, and why all five are firing right now.She also gets real about what it takes to be successful. This isn't IR at a corporate .Kate talks about what it takes to raise money, to build the relationships, travel every other week, and why wining and dining (what may have worked in the 1990s.) doesn't work now.Whether you're thinking about a career in investor relations, trying to understand how hedge funds actually raise capital, or just want to know what happens behind the scenes at these huge hedge fund conferences, this one's for you. Kate shares her path from JP Morgan's private bank during the financial crisis to running IR at a multi-billion dollar fund, her advice for young people breaking in, and why the best IR professionals think like allocators, talk like PMs, and build relationships that compound over decades — not transactions. For more, subscribe to our substack at https://thewallstreetskinny.substack.com/For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

Today on the podcast we'll be discussing Red Leaf Blotch a new invasive disease in California almond production. I want to offer my sincere apologies to listeners and to the Trouillas Lab for not getting this episode out promptly for maximum usefulness in the 2026 season. Although we are still in the red leaf blotch susceptibility window at the time of podcast airing – there's not currently any rain in the forecast. Disease management The disease has a long latent period of 35 to 40 days, so by the time symptoms are visible, the infection window has long passed. This makes early, preventive management the key to controlling the disease. Based on 2025 field trials and growers' experience in Spain, a three-spray program is recommended for orchards at risk. The first spray should be applied at petal fall (young leaflet emergence), followed by a second application two to three weeks later, and a third spray five to six weeks after petal fall if wet weather continues. These timings coincide with elevated inoculum levels of P. amygdalinum in orchards and a period of high leaf susceptibility to RLB. Similar timings for fungicide applications are used to manage other spring diseases like scab, shot hole, rust, and anthracnose, highlighting the need for an integrated approach to disease management in almond orchards.Research trials in 2025 indicated that the most effective products to control RLB included various mixed fungicides with FRAC groups 3 + 7 (e.g. difenoconazole + pydiflumetofen); 3 + 11 (e.g. difenoconazole + azoxystrobin or tebucnonazole + tryfloxystrobin); 7 + 11 (e.g. fluopyram + trifloxystrobin, fluxapyroxad + pyraclostrobin, or boscalid + pyraclostrobin); 7 + 12 (adepidyn + fludioxonil), and FRAC 3-triazoles (metconazole or flutriafol). Growers are advised to rotate modes of action and follow all resistance management and product label guidelines to prevent product failure over time. Cultural practices, focused on eliminating the primary inoculum of infected fallen leaves, also can help mitigate the disease. These consist of removing leaf litter or applying urea to accelerate its decomposition. However, such strategies are only effective when applied over a wide area. Fungicides applied during bloom and after symptoms are visible are not effective.2025 Fungicides, Bactericides, Biocontrols, and Natural Products for Deciduous Tree Fruit and Nut, Citrus, Strawberry, and Vine Crops in CaliforniaMention of a pesticide does not constitute a pesticide recommendation, merely the sharing of research results. Consult your PCA and read the pesticide label. The label is law. ‍ ‍The views, thoughts, and opinions expressed are the speaker's own and do not represent the views, thoughts, and opinions of the University of California. The material and information presented here is for general information purposes only. The "University of California" name and all forms and abbreviations are the property of its owner and its use does not imply endorsement of or opposition to any specific organization, product, or service.Follow us on Twitter! @SacOrchards and @SJVtandvThank you to the Almond, Pistachio, Prune, and Walnut Boards of California for their kind donations. Thank you to Muriel Gordon for the music.Come to an upcoming extension meeting!Sacramento Valley Rice Production Workshop on March 18–19 at Lundberg Family FarmsThe 2026 North Sac Valley Olive Day is on Tuesday March 24And the Nickels Field Day is on Tuesday May 19 San Joaquin Valley (scroll to the bottom) Madera/Merced Pistachio Day is on Wednesday March 18‍ ‍ ‍ ‍

Lavish Pentagon purchases—ranging from $6.9 million in lobster tail and $2 million in Alaskan king crab to a $98,329 Steinway grand piano and a $21,750 handmade Japanese flute—have ignited public outrage. These extravagant “use‑it‑or‑lose‑it” end‑of‑year splurges reached a record $93.4 billion in September 2025 alone, underscoring systemic budget‑burning practices. Similar last‑minute spending habits plague other government departments as well, revealing a broader culture of fiscal waste that watchdog groups say urgently needs reform. Nicole Zieba sits in for John Broeske. Please Like, Comment and Follow 'Broeske & Musson' on all platforms: --- The ‘Broeske & Musson Podcast’ is available on the KMJNOW app, Apple Podcasts, Spotify or wherever else you listen to podcasts. --- ‘Broeske & Musson' Weekdays 9-11 AM Pacific on News/Talk 580 AM & 105.9 FM KMJ | Facebook | Podcast| X | - Everything KMJ KMJNOW App | Podcasts | Facebook | X | InstagramSee omnystudio.com/listener for privacy information.

Dr. Nichols opens by outlining her background in protein nutrition research spanning Canada, the Netherlands, industry R&D, and now academia at UC Davis. Her research has focused on mammary amino acid metabolism, nitrogen efficiency, and the interaction between protein and energy supply in dairy cattle. (1:00–4:05) Dr. Räisänen shares her path from Penn State to Finland, Switzerland, and now Aarhus University, where she is leading research within a large, multidisciplinary project focused on lifetime nitrogen efficiency in dairy systems. Her current work examines early lactation protein supply and rumen nitrogen balance. (7:32–10:07) The discussion begins by establishing why protein nutrition plays a central role in sustainability. Ruminants are net protein producers, converting low-value feeds into high-quality milk and meat protein. However, inefficiencies in nitrogen utilization lead to urinary nitrogen excretion, contributing to ammonia emissions, nitrous oxide production, and nitrate leaching. Improving nitrogen efficiency, therefore, directly impacts environmental outcomes. (12:28–14:17) The group discusses geographic differences in nitrogen regulation. European countries like the Netherlands and Denmark face intense scrutiny due to high livestock density on limited land. Similar regional challenges are emerging in concentrated U.S. dairy regions such as California's Central Valley and parts of the Midwest. (15:17–18:19) Dr. Nichols introduces the concept of metabolic flexibility—the ability of ruminants, and especially the mammary gland, to utilize different nutrients and metabolic pathways depending on supply. This flexibility helps explain why responses to protein supplementation are not always black and white, and why traditional limiting amino acid theory does not consistently predict milk protein responses. (24:58–26:23) The conversation explores early lactation “protein boost” strategies inspired by post-ruminal amino acid infusion studies. Dr. Räisänen describes ongoing work using targeted concentrate supplementation to mimic infusion responses. Preliminary data suggest substantial early lactation milk yield responses, similar to infusion studies, when protein is delivered in a separate concentrate rather than blended into a TMR. (28:33–31:16) Dr. Nichols discusses three key areas of flexibility highlighted in her webinar: Energy source interactions (glucogenic vs. lipogenic supply),   Rumen nitrogen balance, and   Mammary gland amino acid metabolism. (32:21–33:50)   The panel explores how feeding systems may influence metabolic responses. PMR systems with separate concentrate feeding may allow temporal and metabolic “choice,” potentially improving efficiency compared to uniform TMR feeding. Robotic milking systems and automated concentrate feeders offer opportunities for more individualized protein nutrition strategies. (35:00–37:57) Amino acid discussions highlight how flexibility challenges the traditional limiting amino acid model. Milk protein synthesis is not consistently limited by one amino acid, and mammary uptake patterns show that amino acids can serve multiple roles beyond direct incorporation into milk protein. Lysine, leucine, and histidine are discussed as examples of amino acids whose responses may vary depending on metabolic context. (41:07–45:25) The group also examines energy source effects on nitrogen partitioning. Lipogenic diets (e.g., supplemental fats) may alter amino acid metabolism differently than glucogenic diets, but more research is needed to fully characterize these interactions. (49:24–53:11) Dr. Räisänen emphasizes the importance of rumen microbial protein synthesis and improving prediction models for digestible amino acid supply. Better understanding and measurement of microbial protein output could significantly improve feed evaluation systems and nitrogen efficiency modeling. (54:04–56:05) Dr. Nichols highlights endogenous nitrogen recycling and urea transport back to the rumen as another underexplored area. Improved mechanistic understanding of recycled nitrogen could refine models of rumen nitrogen balance and reduce overfeeding of dietary protein. (1:00:46) The episode closes with a discussion of cow-to-cow variation in nitrogen efficiency and the potential for individualized feeding strategies to optimize the marginal efficiency of protein use. (1:02:00) Please subscribe and share with your industry friends to invite more people to join us at the Real Science Exchange virtual pub table.   If you want one of our Real Science Exchange t-shirts, screenshot your rating, review, or subscription, and email a picture to anh.marketing@balchem.com. Include your size and mailing address, and we'll mail you a shirt.

In this episode, I'm sharing a realization that came to me during meditation about how our life experiences are never random or wasted; they're actually building on each other the whole time.  I talk about how watching my son move from gymnastics into tackle football made me see how skills from one season of life prepare us for the next, even when we don't realize it. I also share stories from my own journey, from spray tanning educator to speaking, and from my husband's path in construction, to show how the things we once thought were unrelated were actually preparing us all along.  This episode is an invitation to look back at your own life and recognize how every experience has been quietly adding tools to your belt. Similar episodes to this topic:  299: Why The "Random" Interest Isn't Random, It's A Larger Plan Unfolding 255: How to Be Happy with Where You Are (Even If It's Not Where You Want to Be) Join The Monthly Woo Woo Wednesday Live Meetup! Let's be friends on Instagram!

Last month, Olympia became the first city in Washington, and one of just a handful in the country, to pass explicit protections for polyamorous families. The city passed two ordinances in late February that establish protections for people in diverse family and relationship structures. Supporters say the changes are aimed at protecting these community members against discrimination and unfair housing practices. Similar efforts are underway in multiple cities across the west coast. More than 60% of people who responded to a 2025 survey on non-monogamy said they experienced discrimination or stigma in at least one domain, like healthcare or employment. We spoke to an advocate who backed these ordinances -- and who's hoping to bring similar change to Seattle. Guests: Jessa Davis is the executive director for the Seattle Coalition for Family and Relationship Equity Related links: First WA city with protections for polyamorous families | The Olympian In the Northwest, polyamory finds something new: legal protection | The Seattle Times Polyamorous protections moving ahead in Portland as council reaffirms LGBTQ safe harbor status | oregonlive.com 2025 Community Survey Report | OPEN (Organization for Polyamory and Ethical Non-monogamy) Thank you to the supporters of KUOW, you help make this show possible! If you want to help out, go to kuow.org/donate/soundsidenotes Soundside is a production of KUOW in Seattle, a proud member of the NPR Network.See omnystudio.com/listener for privacy information.

It's been 15 years since one of the worst natural disasters in history. The 2011 East Japan Earthquake and tsunami killed more than 19,000 people and displaced hundreds of thousands of people, especially those forced to evacuate following the subsequent Fukushima nuclear accident. So what lessons can be learnt from this disaster and nuclear accident in a climate of increasing global turmoil?

Send a textWe're back for the ninth installment of He Said She Said, our regular crossover series with Dan Nathan and Guy Adami of CNBC's Fast Money. We recorded just after the open Friday morning, breaking down a February jobs report that caught many off guard  -- 92,000 jobs lost, massive downward revisions to prior months, and mounting evidence of an organic economic slowdown that's been building for over a year, well before AI has meaningfully reshaped the labor force.We dive into the Paramount-Warner Brothers mega-deal, what amounts to the largest leveraged buyout in history led by the Ellison family with sovereign wealth fund backing and clear echoes of Elon Musk's Twitter acquisition playbook. Kristen walks through the deal mechanics and the real meaning behind "synergies" -- Wall Street's favorite euphemism for mass layoffs -- while the group debates the timeline for AI-driven workforce displacement across sectors from tech to banking.Jen brings the macro picture into sharp focus, drawing parallels to 2008 as oil prices spike amid escalating geopolitical tensions, war insurance gets pulled from shipping vessels, and the bond market sends confusing signals about inflation and flight-to-quality dynamics. The conversation rounds out with a look at emerging cracks in private credit markets -- including cases of double-pledged collateral fraud coming to light -- and what a persistently elevated VIX alongside modest equity drawdowns might be telling us about complacency lurking beneath the surface.For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

In this episode of The Smart Property Investment Show, SPI managing editor Liam Garman sits down with James Nelis from The Nelis Group to discuss how elite sport discipline and having a champion's mindset build a powerhouse property portfolio. Nelis, a former semi-professional Australian Football League (AFL) player, draws on 15 years of experience in elite sport to show how discipline, strategy, and resilience drive successful property investing. Similar to training, Nelis champions the "one percenters" approach, proving that tiny, consistent actions compound into major property wins. A key takeaway from Nelis' strategy is "sequencing versus timing," encouraging investors to focus on their stage in the financial journey while using a "Moneyball"-style approach to let data guide, not dictate, their investment decisions. Nelis also warns investors against overcommitting, recalling a period of over-leveraging during rising interest rates to stress-test financial limits. He also stresses the need to manage ego and emotion to avoid short-term market swings from derailing long-term plans, while building a diversified portfolio in which each property serves a clear purpose for sustainable growth. If you like this episode, show your support by rating us or leaving a review on Apple Podcasts and by following Smart Property Investment on social media: Facebook, X (formerly Twitter) and LinkedIn. If you would like to get in touch with our team, email editor@smartpropertyinvestment.com.au for more insights, or hear your voice on the show by recording a question below.

Duty vs Delight | Similar But Not The Same | Josh Canizaro

During the Cold War, some of the most dangerous encounters between East and West took place far beneath the ocean's surface. I speak with historian Dr. Paul Brown, author of Secret Warriors: British Submarines during the Cold War. Brown reveals the extraordinary covert missions carried out by Royal Navy submarines as they monitored Soviet naval bases near Murmansk and the Barents Sea. British boats gathered vital intelligence by recording the acoustic signatures of Soviet submarines, trailing enemy vessels, and observing major naval exercises. These missions were risky and occasionally resulted in collisions, such as the dramatic incident involving HMS Warspite in 1968. Along the way, Brown shares remarkable stories of Cold War espionage at sea, including a daring intelligence operation where a British submarine secretly observed the Soviet aircraft carrier Kiev from just a few feet away. This is a rare glimpse into one of the Cold War's most secretive battlefields: the depths of the ocean. Buy the book here and support the podcast⁠⁠ Episode extras here ⁠⁠ https://coldwarconversations.com/episode446⁠ Similar episodes: On Her Majesty's Nuclear Submarine Service ⁠https://coldwarconversations.com/episode162/ From the Merchant Navy to Covert Hunter Killer Nuclear Submarine Missions https://coldwarconversations.com/episode388/ ⁠ Go to ⁠⁠https://surfshark.com/coldwardeal⁠⁠ or use code COLDWARDEAL at checkout to get 4 extra months of Surfshark VPN! Help me preserve Cold War history via a simple monthly donation, You'll become part of our community, get ad-free episodes, and receive a sought-after CWC coaster as a thank-you, and you'll bask in the warm glow of knowing you are helping to preserve Cold War history. Just go to ⁠⁠⁠⁠⁠⁠https://coldwarconversations.com/donate/⁠⁠⁠⁠⁠⁠ If a monthly contribution is not your cup of tea, we also welcome one-off donations via the same link. Find the ideal gift for the Cold War enthusiast in your life! Just go to ⁠⁠⁠⁠⁠⁠https://coldwarconversations.com/store/⁠⁠⁠⁠⁠⁠ CONTINUE  THE COLD WAR CONVERSATION BlueSky ⁠⁠⁠⁠⁠⁠https://bsky.app/profile/coldwarpod.bsky.social⁠⁠⁠⁠⁠⁠ Threads ⁠⁠⁠⁠⁠⁠https://www.threads.net/@coldwarconversations⁠⁠⁠⁠⁠⁠ Twitter/X ⁠⁠⁠⁠⁠⁠https://twitter.com/ColdWarPod⁠⁠⁠⁠⁠⁠ Facebook ⁠⁠⁠⁠⁠⁠https://www.facebook.com/groups/coldwarpod/⁠⁠⁠⁠⁠⁠ Instagram ⁠⁠⁠⁠⁠⁠https://www.instagram.com/coldwarconversations/⁠⁠⁠⁠⁠⁠ Youtube ⁠⁠⁠⁠⁠⁠https://youtube.com/@ColdWarConversations⁠⁠⁠⁠ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Send a textBetter on YouTube: https://youtu.be/AhxqxrQdIpQ?si=LOx5MlphCo9RgjhLRob Fraser took his brand from $1,000 in student loans to over $60m in sales with zero investors & no ads for the first million in revenue.Similar to me, he started off with a burning desire to prove everybody wrong.He got cut from every sports team he tried out for, wasn't popular in school, but knew he was meant for more.That drive led him to a 10-year career in professional cycling... achieving huge success & winning multiple national titles.But then his cycling career ended... and he felt lost.Having gone to school & not enjying it (knowing he was meant for more), he started selling socks.He started his company Outway with $1,000 from his student loans, got his first batch of product in less than 60 days & immediately started selling.After 10 years of hard work, going through lawsuits, having to buy out his business partner, go into debt & push through hardship, he scaled to an 8-figure valuation & over $60m in total sales.On this podcast, we dive deep into his journey, personal motivations & exactly how he's built his brand.Here's some of the stuff we speak about:> Exactly how he went from a broke ex-athlete selling socks out of a Tupperware container at school to building a $60m brand> How he secretly ran a second business on the side to fund the growth of Outway without taking on any debt or investors> The brand building strategy behind Outway and elite knowledge on how to start and scale in ecommerce> Why he almost failed because chasing growth for the wrong reasons (and what he did to turn it around)> What most first-time founders get wrong when it comes to delegation, scaling, and building a real company> Why taking advice is overrated and what to do insteadAnyway, this was one of the best episodes I've done. Worth the 2 hours, I'd say ;)Support the show

Send a textIn this special emergency episode of The Wall Street Skinny, we sat down with Andreas Laskaratos, CEO of AB Commodities Group, a global oil and gas shipping and trading firm with operations spanning Europe, Asia, and the Americas. Andreas is one of the few people in the world who operates across both the physical and financial sides of the commodities complex, and he's been a longtime friend of the show.With Iran blockading the Strait of Hormuz, shipping rates spiking 5x overnight, and 20% of global oil flow suddenly in question, there was no one we wanted to talk to more. Andreas walks us through the mechanics of what's actually happening when it comes to oil, natural gas, and the broader commodities complex.We cover everything from the basics (WTI vs. Brent, what actually comes out of a barrel of crude, why it costs Saudi Arabia $5 to extract oil and the U.S. $50) to the trades being put on right now, why China is likely hurting the most, and what the 45-day timeline to $150 oil actually looks like. Andreas also had his war insurance canceled in real time while we were recording, which pretty much tells you everything you need to know about where things stand.Whether you work in finance, energy, or you're just trying to understand why your gas prices look the way they do this is the best crash course you'll get in commodities in under an hour.For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

(00:00) Chris Forsberg joins Hardy and Wallach. They begin by talking about their winter golf game. Is Jayson Tatum getting any closer to a return? (19:21) Forsberg continues to talk C's with the guys. Should Mazzulla be the frontrunner for Coach of the Year? (32:58) The guys react to Greg Bedard saying that Alec Pierce shows flashes of Randy Moss in his game. Please note: Timecodes may shift by a few minutes due to inserted ads. Because of copyright restrictions, portions—or entire segments—may not be included in the podcast.For the latest updates, visit the show page on 985thesportshub.com. Follow 98.5 The Sports Hub on Twitter, Facebook and Instagram. Watch the show every morning on YouTube, and subscribe to stay up-to-date with all the best moments from Boston's home for sports!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There is one truth that has followed every major technological revolution in human history. Energy demand always rises to meet technological capability. When we industrialized, coal consumption exploded. When we built the modern transportation system, oil demand reshaped global geopolitics. When we entered the digital age, electricity quietly became the backbone of the global economy. And now we are entering the AI era. What most people don't appreciate is that AI is not just a software revolution. It is an electricity revolution. Training a single advanced AI model can consume as much electricity as tens of thousands of homes use in an entire year. And once trained, these models continue to run inside data centers filled with specialized hardware operating 24 hours a day. A single large AI data center can require over 1 gigawatt of power. To put that into perspective, that's enough electricity to power roughly 700,000 homes. One building consuming the equivalent of a major city. Now consider that companies like Microsoft, Google, Meta, and Amazon are planning dozens of these facilities. Suddenly, you begin to see the scale of what's happening. Even individual AI queries consume more power than traditional computing tasks meaningfully. One estimate suggests an AI query can use roughly 10 times the electricity of a traditional search query. That difference seems trivial until you multiply it by billions of interactions per day. This is why, for the first time in decades, electricity demand in the United States is accelerating again. For nearly 20 years, electricity demand was relatively flat. Efficiency gains offset economic growth. But AI, electrification of transportation, and domestic manufacturing are reversing that trend. And here's where the story becomes even more interesting. China understands this. China is building power infrastructure at a pace that is difficult to comprehend. They are adding entire national-scale power capacity every few years. In 2023 alone, China added more new coal power capacity than the rest of the world combined. At the same time, they are installing solar and wind at record rates, becoming the global leader in renewable deployment. They are not choosing one energy source. They are choosing all of them. Because they understand that energy availability determines technological leadership. Meanwhile, in the United States, building new power plants and transmission infrastructure can take a decade or more due to regulatory hurdles, permitting delays, and political resistance. This creates a very real risk. The country that can generate the most reliable, scalable energy will have a structural advantage in AI, manufacturing, and economic growth. Energy is becoming the limiting factor. And whenever something becomes a bottleneck, investment opportunities emerge. We are entering a period where trillions of dollars will be spent on power generation, grid modernization, nuclear energy, solar, battery storage, geothermal, and technologies that most people have never even heard of. Some of the biggest fortunes of the next decade will likely be tied directly or indirectly to solving this energy constraint. In today's episode, we explore alternative energy sources, the challenges we face, and the technologies that may power the future. Because understanding energy is no longer optional if you want to understand where the world is going. And as investors, those who see these shifts early have the opportunity to position themselves ahead of the crowd. Watch on YouTube: https://youtu.be/D0Lpmq0SAvo Listen on Apple Podcasts: https://podcasts.apple.com/gb/podcast/548-ai-is-about-to-trigger-an-energy-crisis-most/id718416620?i=1000752299883 Listen on Spotify: https://open.spotify.com/episode/5l4674hFIJPWkz0spMq4YL Transcript Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.  Welcome everybody. This is Buck Joffery, the Wealth Formula podcast. And today, before we begin, I wanna remind you as always, there is a website associated with this podcast, wealthformula.com. That’s where you want to go. If you have, uh, an interest in uh, ing more in the community in particular, there is a, a credit investor club. AKA investor club, which you need to sign up for. Uh, go to wealthformula.com and see some private deal flow at, uh, no cost to you, uh, that, uh, you might have an interest in. Uh, let’s talk about today’s show. It’s a little bit about, uh, something. You know, that is, uh, on I think, a, a major issue, uh, going into the next decade. Um, you know, there’s one truth that’s followed. Every major technological revolution in human history. Energy demand is always rise, uh, to meet technological capability. You know, when we industrialize, uh, coal consumption exploded, obviously when we built modern transportation system oil. Demand, uh, reshaped global geopolitics. And when he entered the digital age, electricity became the backbone of the global economy, and now we’re entering the era of artificial intelligence. Now, what most people don’t appreciate is that AI is not just a software revolution, it’s an electricity revolution. Uh, training a single advanced AI model can consume as much electricity as literally tens of thousands of homes in an entire year. And once trained, these models continue to run inside data centers filled with specialized hardware operating 24 hours a day. A single large AI data center can require what’s called a entire one gigawatt of power. Now, what’s a gigawatt? Well, to put this all into perspective, that’s enough electricity to power. Roughly 700,000 homes, one building consuming the equivalent of a major city. Now, consider that companies like Microsoft, Google Meta, Amazon, they’re applying to build dozens of these facilities, and suddenly you begin to see the scale of what’s happening. Uh, even individual AI queries when you do them, they consume a lot more power than traditional computing tasks. Um, there’s an estimate that suggests that an AI query. Can use roughly 10 times the electricity of a traditional, uh, search query. The difference seems trivial until you multiply that by like billions of these interactions per day. And that is why for the first time in decades, electricity demand in the United States is accelerating again and doing so quickly. Now you might ask, well, you know, what’s been happening for the last 20 years? Well, electricity demand was actually relatively. Flat. And a lot of that is because of efficiency gains, offsetting economic growth, but ai, electrification of transportation, domestic manufacturing, they’re all gonna reverse that trend. And, and here’s where the story becomes even more interesting, because we know that China already understands this. China’s building power infrastructure at a pace that’s difficult to really even comprehend. They’re adding entire national skill, power, capacity every few years. In 2023 alone, China added more new coal power capacity than the rest of the world combined. And at the same time, they’re installing solar, wind, all these things at record rates becoming really the global leader in re renewable deployment. So you don’t think of China is that way, but they are. They’re not choosing one energy source. They’re choosing all of them. And because they understand that energy availability will determine technological leadership. Meanwhile, in the US things are kind of slower. Building a, a new power plant and transmissions infrastructure can take a decade or more. We got lots of regulatory hurdles and permitting delays in political resistance that the Chinese don’t have, and that creates a lot of risk. The country that can generate the most reliable, scalable energy, we’ll have a structural advantage in AI manufacturing and economic growth. And that is a big, big deal because energy at the end of the day is becoming. The limiting factor for growth, and whenever something becomes a bottleneck, you also get investment opportunities that emerge. So we’re entering a period where trillions of dollars will be spent on power generation, grid modernization, nuclear energy, solar battery, geothermal, you name it. And a lot of those things you’ve never heard of. Some of the biggest fortunes of the next decades will be tied directly or indirectly to solving these energy constraints. That is why in today’s episodes we’re gonna explore these alternative energy sources, kind of get an idea of what’s going on with them. I know it doesn’t sound super exciting or sexy, but understanding energy right now is, is not optional. If you wanna understand where the world is going, and as investors, those who see these shifts early are gonna have an opportunity to position themselves ahead of the crowd, and we’re gonna have. A conversation to highlight all of that right after these messages. Wealth formula banking is an ingenious concept powered by whole life insurance, but instead of acting just as a safety net, the strategy supercharges your investments. First, you create a personal financial reservoir that grows at a compounding interest rate much higher than any bank savings account. As your money accumulates, you borrow from your own. Bank to invest in other cash flowing investments. Here’s the key. Even though you’ve borrowed money at a simple interest rate, your insurance company keeps paying. You compound interest on that money even though you’ve borrowed it at result, you make money in two places at the same time. That’s why your investments get supercharged. This isn’t a new technique, it’s a refined strategy used by some of the wealthiest families in history, and it uses century old rock solid insurance companies as its back. Turbocharge your investments. Visit wealthformulabanking.com. Again, that’s wealthformulabanking.com. Welcome back to the short rewind, uh, energy demand is, uh, rising, not just from ai but from electrification. Population growth, economic activity itself. At the same time, we’re trying to transition how energy’s produced, which creates, uh, real trade-offs around cost, reliability, and scale. Today’s conversation isn’t about, uh, ideology necessarily, but it’s about the economics of energy and what’s realistic as demand continues to grow. And to help us think this through. I’m joined by Dr. Ga Hockman, professor of Environmental and Resource Economics, with the PhD from Columbia University Gall. Welcome to the show. Good morning. So let’s just start very basic here. In your view, why does economic growth almost always translate into higher energy demand? Because production is very dependent on energy. And so whenever you wanna expand production, you wanna expand food, you need more energy. And this is actually what we’re trying to decouple, to create production processes that are less energy intensive. So as we grow, as we become happier, more viable, we don’t necessarily need more energy. So, uh, setting, uh, ai, artificial intelligence aside for a second, are we already in a path where electricity demand has to rise, you know, meaningfully over the next decade? I mean, what, what kind of projections do we look at there? We need to decouple growth from energy. We didn’t do that yet. As long as we don’t do it. Uh, growth will be associated with an increase in energy demand, not as much as AI has been introducing. And that is, uh, uh, uh, jumping to a higher step. Right. Now, you’ve mentioned this a couple times in the decoupling idea how in the big picture, like how do you do that? Uh, does the low hanging fruit that the US implemented from the 1980s, 1990s, and that is energy efficiency. It, which creates a win-win. Uh, it just changed the light bulbs in your, in your house. You save electricity, but you also save money ’cause these bulbs last much longer. Assuming their cost is not high enough. Is not too high. Uh, industry is the same thing. Introducing more efficient processes. Can result endless need for energy, but we need to go a step further to make it more meaningful and to introduce production processes that simply depend less on energy or depend less on energy that is polluting. Give us another example. I mean, the light bulb is an easy one, but, um, I mean, what are some large scale ideas for that energy efficiency issue? That you’ll think about when you think about these kind of decoupling ideas. Uh, another thing, just, uh, the appliances at home, uh, you want them to, uh, be more energy efficient and the windows you put on your houses, you want it to be double blast, maybe even triple in some cases that blocks the sun and helps I, uh, isolate the house better so you don’t need to heat it as much. Insulation is very important. Uh, very similar things exist in the commercial sector. Uh, if you look at the big retail stores, they’re using a lot of light bulbs. They’re using a lot of insulation to reduce their, uh, heating costs. If they are wanting to become more energy efficient. So these are not very complicated things that can really make a change in residential, in commercial. And you can then expand it further into production process in the manufacturing. And there are different examples also there. There’s also this big driver of energy in the next couple of decades, uh, which, you know, people talk about how many more terabytes we’re gonna need just to support the artificial intelligence revolution. Do you think it’s realistic, you know, just to focus on these efficient levels? Is that enough for, for how much energy we need? No, no. And we need to expand the energy. Uh, it’s important to expand it in ways that is cleaner energy, so it does not create harm. So you don’t create a good with a bad, uh, you wanna introduce energy that is cleaner so you don’t increase, uh, pollution. Uh, impact greenhouse gases. Um, so it is also the fuel mix that you’re using. The fuel sources. Will you use solar? Will you use hydro? Will you use, uh, wind, uh, bio bioenergy, same thing. Bioenergy crops. So you wanna exp expand, you wanna. Introduce a more diverse set of feedstocks that many of them are much more, uh, cleaner than the existing one. Uh, so the movement to renewable is important. Uh, and again, you don’t need to decrease the existing infrastructure, but the new infrastructure at least needs to come from a cleaner sources. You need to improve our use of batteries. Yeah. Let, let’s break down some of the things that you’ve talked about. So, solar, okay. Um, what did, what does solar do well and where does it struggle? Solar, people forget, in 2005 it was $10. Now it’s below $1. So we need to understand that there is a transition in the transition. Many times costly, but we need to learn and bring it down that. Learning came in terms of installation. The installation became much more efficient, uh, much less costly, much faster, and that brought the price of solar down. Uh, solar has been performing very well in many places. Uh, eh, solar today is cheaper than many of the most polluting, uh, infrastructure for power in the world. If I remember correctly, the number, it’s around 500 gigawatts, which is a big number. Uh, they can, that solar can outcompete the existing, uh, energy sources. Uh, where it’s struggling is that, um. Silicon will be is is in high demand and that is a creating a floor that prevents solar from going even lower, but it can also create a constraint in the future as you expand it further. Can you explain for, for us just the silicon issue? ’cause is that. So it’s just a, a silicon is a major component and we don’t have enough, is that what you’re saying? Yes. Yes, exactly. And then doesn’t that drive up the price of silicon? Yes, but we, we didn’t hit that. We, we we’re, we’re, uh, but there are actually various entities working on alternatives. From MIT to companies, uh, that are offering interesting solutions. Yes. You mentioned storage as well. Um, energy storage. Um, how close are we to storage being really viable at scale? I mean, this is, um, you know, we certainly, battery technology has improved, but, you know, how, how, how close are we to it? Becoming something that is, is really, really helping the issues. Uh, it’s challenging ’cause right now it makes it more expensive. But if the more we use it, the more we learn, the more we understand, the more, uh, efficient and cost efficient we can introduce it. Cost will go down. So it’s like the, how do you push it forward? How do you adopt these technologies? Now, we should always remember that there are, in some places, it is already very viable. But it demands certain, uh, uh, circumstances. For example, uh, the Southwest has a location where it has, uh, underground water and solar. The solar heats the underground water. So the underground water becomes the storage that, uh, then the steam becomes the electricity in the night. And that is a very viable process. Hydro with wind goes also very well, and again, uh, they manage to store, uh, use the wind to bring water upstream, and then when there’s no wind, the water flows downstream and through hydro creates electricity. Batteries, it’s technology. Uh, will a breakthrough come one day? I believe so, but again, I, I can’t predict it. Um, we can talk about, um, you know, natural gas, right? I mean, natural gas doesn’t get much attention, uh, in the transition narrative, but how important is it today in maintaining grid stability in supporting renewables? Reliability is more important than prices to many of us. No one likes blackout and if you talk with the, those that monitor and and manage the electricity markets, that’s their top priority, not the price. Uh, we don’t like it when we don’t have electricity. We we’re very dependent on it. So reliability is definitely be, uh, uh, uh, a must before you even move towards renewables. Absolutely. Before prices even, uh, uh, for anyone in the us. Um, so NA Gas has the potential, uh, it has less. CO2. The problem with NA gas is that the infrastructure is leaking. That means that the pipeline are emitting and methane because of leaks. Uh, I believe that needs to be addressed. Uh, uh, natural gas has the potential to be used, but. You need to not use it with an infrastructure that is, uh, resulting in more damage than good. It kind of defeats the purpose of it. What would do you look at natural gas as a short term bridge or something that, you know, the, the system may rely on, you know, in, in a much longer, uh, timeframe, even with other renewables. I would be careful in creating a bridge because that this infrastructure is very expensive. Once you put the amount of money needed to create infrastructure, it’s very hard to change it. Having said that, you will have solutions that will use fossil fuels, which includes natural gas, even in the long run, simply because the cost and the benefits will add up in a way that. It won’t make any sense moving away from fossils. In my opinion, not everyone will agree with me. Yeah, but, and, and you do have technologies that can make fossil fuels much, much cleaner. Like carbon capture used in storage. Uh, that technology has a huge potential. You can recycle the hydrogen and recycle other components in the refinery process that results in a cleaner fuel. But it’s something that we need to incentivize the companies to do. Uh, a company will not do it independently ’cause it’s more costly and that’s important. How about nuclear? I mean, nuclear. Offers reliable carbon free, you know, power. Yet it hasn’t scaled the way many people expected. Um. Why is that people are afraid of nuclear. Look at the three Mile Island and, and look at Fukushima and Chernobyl for that matter. People remember those stories and that really resonates with them badly. And there’s also a problem in the accounting of nuclear. Even the most safest countries in the world like Japan will everyone considered super safe. Even they have an accounting problem. So there is the concern that. Even small amounts get leaked out to the wrong hands. That can be a very bad outcome. Eh? Having said that, there is, I don’t know. I don’t follow it too much, but I do know there is a drive to create small nuclear plants, mobile plants, eh, from my recollection for two, three years ago, the company that I heard of was very successful at that. Eh, Japan went back to nuclear different than Germany. By the way. Germany did not try to, uh, divest from nuclear. So there are some places that nuclear becomes very important. I think it’s also becomes important in some areas that work in ai. So it has been introduced as a source of electricity. Can you tell us a little bit about small modular reactors? There’s a lot of buzz about that. What, what exactly are they? I mean, how small are they? You know, safety wise, uh, they’re mobile, they’re not very big. And, uh, that makes them, uh, much more easier to manage and control as opposed to the very big nuclear plans. Nuclear is a base load. So you use it, you, once you turn it on, you don’t want to turn it off. It’s too expensive. The on and off, it takes it a long time to, to uh, ramp up. Uh, and, uh, mobile, uh, nuclear plants are addressing many of these concerns that exist with the big plants. So they are solving it in, in what I saw pretty well in some circumstances. How small are they? I mean, are they, so would you. Would a, you know, one of these AI data centers, or what would they just, would they have one small modular react or they’ll need more than that? They’ll need more than that. Oh, they need more, more than one. Yeah. Yeah, yeah. So they’re, they’re pretty small or they like, you know, the size of a car or they. How, how small are these things? No, they’re bigger than the car, but they’re not too big. If you know of a nuclear plant, the old one, you see these big round, uh, domes, uh, they’re, they’re not that big. They’re, they’re much smaller, but they’re not as small as a car. Yeah. And so you could run maybe, uh, a, an AI center with a couple of those or something like that. Is that the idea? They have, you can see some of them. There are examples in Texas where you have the, the center basically is surrounded by small units. Are they generally safer to use, and if so, why is that? Uh, I’m not a nuclear guy. I’m not a physic. I should be careful in it, but I, I, what I understood, they’re safer to use. Also, the material i, i I is not reaching, uh, levels that safer levels than you would need for, for example, for bumps and, and stuff like that. So they’re keeping everything at a safer level. When you step back and look at the whole system and think about. What’s gonna happen in the future? Do you think it’s more likely to be dominated by one energy source or like a diversified mix as we’ve been going through? I believe a diversified mix. I also believe that in some places you will always have fossil fuels. In some places you’ll have a very quick transition to renewables. Uh. Uh, we need to look at the system view. In some places it’s easier to clean the dirty fuel. In some places it’s just easier to introduce the, the clean fuel. Uh, some places I do believe you see, for example, developing world does not have the capacity to electrify. We talk about electrification and some people are very enthusiastic about it. You don’t see it in the development world. They don’t, they lack even the US And there is a study in Princeton that came, I think three years ago. Um, if you electrify the whole US today, you need to almost triple the grid capacity. Just understand what the magnitude of money that needs to be invested to get there. Is huge. Now developing countries definitely don’t have it. Even the US doesn’t have that capacity. So, uh, developing countries, I think you might see a lot more biofuels, a lot more, uh, other, uh, substitutes that exist that are easier for them to manage. And then a system view or a more complete view is needed ’cause it’s not. What is the most efficient process? Is what process fits best in a certain area, and, and that will create a lot of heterogeneity, I think. Do you have a sense in the us I mean, what, what do you think ends up being? There’s gotta probably be one, you know, dominant source that it will, will kind of come to friction based on our own. Economics in our own situation. Do you think that’s in the, in the near future? Is that solar, you think? I mean, what, what dominates in the future here? I don’t think you’ll dominate, even in the us you won’t dominate, uh uh. You have regions in the US that are very, uh, windy. Wind farms will be the optimal path. There are places that don’t have any clouds, 350 days a YA year. So solar is perfect there. Solar also creates employment and live view for certain communities so that the employment component is an important part. So you create. Income and, and, and, uh, in, in, in life, in, in economic variability in regions with the renewables, there are other regions that have, uh, a lot of supply of, uh, excess biomass or the capacity to produce a lot of biomass, and that creates them an alternative to use biomass ’cause that’s what brings them. Again, income, which is always important, but it also brings them a feedstock that might be of a, a lot of benefits. Um, and you will have regions that are heavily so heavily invested in fossils that it will never make sense to move away from fossils, but it will make sense to create cleaner fossils through carbon capture and storage in other ways. So I don’t think the US will move into one place or another. Yeah. Um, you know, you often hear discussions about, in the US about, um, our grid being outdated. Tell us sort of at, at a high level, if you wouldn’t mind explaining the issues with the grid and, you know, what, what kind of issues that brings up as we need more energy sources. Just look at the power plants. They were, look at their ages, the age of power plants. Look at and, and then there are a few that were supposed to be retired and now have been extended, but just. That by itself is sufficient to create problems whenever you encounter a natural, uh, extreme event that, uh, stresses the system. Uh, we saw with Sandy in the northeast. The northeast was, a lot of the infrastructure was outdated. Sandy came, the system collapsed. They fixed it now, so they upgraded it. There is, uh, uh. Some of the utility. Again, I’m not, I’m following anecdotal evidence and news, not beyond that, but some of the companies are striving to improve their grid and they are trying to, uh, introduce a more sustainable and reliable system again, ’cause reliability is so important. What does, what does it mean really to even update the grid? I mean, just for people who are not in this space, what does that even mean to upgrade it? You, you, you change the equipment, you upgrade the equipment, you better manage the inter, uh, interaction of trees and, and, and the electricity lines. Uh, you bring electricity lines underground. You also improve a lot of the infrastructure, uh, of the power plants and how they distribute the energy. So this whole infrastructure is being upgraded so it can support. For example, the ai. And that actually is something that the AI might bring as a very positive thing. So it will force the system to, uh, upgrade, to introduce more efficient processes, uh, distribution mechanisms that are more resilient, which I think is important. I hear we’re kind of behind when it comes to this, when you compare it to China. Can you talk a little bit about that? China has a different structure of, or economic structure. So a lot of the, uh, driver, the driver in China is the government and money that the government allocates to these alternative technologies, and that creates a very strong drive for renewables. Eh, China is also a big driver in coal in China, so. It’s basically where the government decides to put the money, and that’s where you see the industry flourish. If you look at the numbers, the investment numbers, China outpaces any country in the world in terms of the value invested per year in the recent years, and, and they’re producing a lot more, a lot more energy than us too. Isn’t that correct? I mean, I, I’ve just been, just in terms of following the AI news, I keep hearing about it. China has no. So many more terabytes than us, uh, of energy, uh, ability. Is is that true? Uh, that I don’t know. I don’t know exactly ’cause, uh, I know they’re producing a lot. I know they are expanding a lot, and I know that in the solar space, for example, they dominate because of that. They’re already, they’re also starting to dominate in the electric vehicle space. Uh, they’re becoming to leaders in those areas. Yes. Um, big picture, I think if you wanted to sort of sum up some of the, you know, major issues that you think that, you know, people like us who are. Investors or you know, just people wanna know what’s happening in the future. Like what, what’s, what’s the message for, for people? I would, I would try to make my house more efficient. I would try to, uh, and it’s important to understand this is not only about, it is about greenhouse gases, but it’s also about if your house is more efficient, you are also paying less money. And that has a lot of benefits to it. Similar logic can follow to the industries and how they work, how, and, and conserving energy is not necessarily coming at the cost of being more or less productive. That’s what we need to understand. You can conserve energy and still produce more. You can become more efficient and you can still, and you can reduce your dependencies on, uh, energy, which I think is important. Dr. Ga Hoffman, thank you so much for being on Wealth Formula Podcast today. Thank you for inviting me. You make a lot of money but are still worried about retirement. Maybe you didn’t start earning until your thirties. Now you’re trying to catch up. Meanwhile, you’ve got a mortgage private school to pay for, and you feel like you’re getting further and further behind. A good news. If you need to catch up on retirement, check out a program put off by some of the oldest and most prestigious life insurance companies in the world. It’s called Wealth Accelerator, and it can help you amplify your returns quickly, protect your. And money from creditors and provide financial protection to your family if something happens to you. The concepts here are used by some of the wealthiest families in the world, and there’s no reason why they can’t be used by you. Check it out for yourself by going to wealthformulabanking.com. Welcome back to the show everyone. Hope you enjoyed it. And, uh, yeah, again, you know, the goal of this show is really to give you, you know, a, a macro look at what’s going on in the world and one of the things that is. Clearly an issue for the United States is energy production. And so, um, you know, stay on top of this stuff. This is, you know, this is where the puck is headed, right? Um, ai, all these things that are, are really, uh, driving the next decade of growth. Really depend on it. Anyway, that is it for me. This week on Wealth Formula Podcast. This is Buck Joffrey signing off. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom Wheel Wright and Ken McElroy. Visit wealthformularoadmap.com.

Send a textWe sat down with Ron Biscardi, the CEO and co-founder of iConnections, live at Global Alts Miami to get the skinny on what's happening with fund managers and allocators in real time. Last year, private credit was the undisputed darling of investment strategies. Now, on the heels of Blue Owl headlines and concerns about cracks within the private credit markets, headlines seem to suggest a tough road ahead.   But reality is far more nuanced. Ron synthesized both emotional reactions and hard data from investors responding to new perceived stresses in the sector in ways that might surprise you.  We also learn where smart money is pivoting, where it remains steadfast, which asset classes and investment strategies stand poised to benefit, and how allocators are positioning for highly volatile markets this year. For a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

Dr. Laura Scherck Wittkoff welcomes Ann Medlock and John Graham, the founders and leaders of the Giraffe Heroes Project—an organization that has spent over 40 years celebrating ordinary people who "stick their necks out" for the common good. From their serendipitous Superman movie meet-cute to building a global movement around courage, compassion, and community, Ann and John share how storytelling became their most powerful tool for inspiring action and creating change. Key Topics Discussed The Power of Storytelling Over Preaching - John's evolution: realizing that 10,000 years of human history—from Neanderthals to troubadours—proves that **stories inspire action** in ways speeches cannot - How storytelling bypasses the mind's objections and goes straight to the heart - The role of narrative in communicating core values and inspiring heroism Redefining Courage - Courage isn't gender-specific—it's something we all possess - Ann's bold stance: firing an advisor who claimed courage was a "man's issue" - John's journey: recognizing that emotional and spiritual courage are as powerful as physical bravery - Why physical courage (climbing mountains, dodging bullets) was easier than the emotional courage required for real change The Giraffe Heroes Project: Mission & Impact - Founded in 1981 by Ann Medlock as an antidote to violence and trivia in media - Nearly 2,000 giraffes honored across 30+ fields and 16+ countries - Seven overseas affiliates extending impact globally - Civil disobedience (à la Gandhi and MLK) is celebrated; actions must benefit significant numbers of people Collaboration Over Competition - The Giraffe Heroes school program is built on collaboration, not competition - Free, digital-accessible curriculum for teachers worldwide - The program transforms classrooms: creating "communities of learners" instead of isolated, competing students - The powerful bicycle story: a student's classmates cheer when he masters riding a two-wheel bike—something that wouldn't have happened before the program Education & Youth Empowerment - Over 2,000 classroom downloads; approximately 375,000 children reached through print materials - Materials available free at Giraffe.org/teachers (email sign-up only) - The US Navy uses the program in overseas schools - Cartoon characters "Stanley" (Stand Tall) and "Beatrice" (Be Tall)—giraffe twins—tell stories to 3-year-olds about bravery and caring - Grandpa and Grandma tell different versions to reach multiple learning styles - Teachers report that kids shift from isolated to connected when exposed to the program The Ripple Effect of Recognition - Many heroes don't see themselves as heroic and are reluctant to share their stories - Telling giraffe stories inspires not just the public, but the giraffes themselves - Real example: a small-town barber doing community work thinks no one is watching—until the story is told and volunteers and support arrive - Some giraffes report they considered quitting but were re-energized by hearing their own story shared Overcoming Barriers - **Funding:** The biggest ongoing challenge. Some funders prefer direct interventions (saving redwoods, backing candidates) over storytelling - Early federal grants supported classroom curriculum development (over $1M across 10 years) - Money and mindset: convincing people that purpose-driven storytelling is as important as tactical giving - The "lightweight" perception: early critics dismissed storytelling as trivial until results were undeniable The Love Story Within the Hero Story - Ann and John met at a writer's group in New York, 1981-1982 - Ann invited John to see the original Superman movie (somewhat reluctantly) - Their three-day courtship led to a 44+ year partnership - John initially thought the giraffe concept was "lightweight" but came to see Ann as a "troubadour for our times" - Wedding entry music: Superman theme - John writes the bylaws; Ann does the creative, bold work—"it works out well" Aging, Purpose, and Public Health - Doing good has measurable health benefits, especially for aging populations - Purpose-driven service is a form of preventive medicine - Ann is 92 years old and "not quitting"; John is 83 and still creating TikToks and short-form videos - Stories of older heroes: a woman in her 80s smuggling pharmaceuticals to Central American revolutionaries, organizing environmentalists and tribes in the Pacific Northwest - The Swiss watch metaphor: a life without purpose is like a watch with no hands—what's the point? Adapting & Staying Relevant - Evolution from LPs (33s) shipped to radio stations → print materials → digital access - Now on TikTok, Instagram, YouTube Shorts, and other social platforms - Constantly reinventing tactics and strategies while staying true to the 1981 mission - Not falling behind culturally is essential to remaining impactful The Dream: "Giraffe" as a Verb - Ann's top wish: for "giraffe" to become a verb—"Let's giraffe this!" - Similar to how "Google" and "Kleenex" became verbs - A measure of cultural penetration and lasting impact Global Scale, Tiny Budget - Working on less than $100K annually - "Tiny but mighty" organization with genuinely global impact - Known from North America to Singapore - Seven overseas affiliates amplifying reach Inspiration from Other Heroes - Ann draws inspiration from Nelson Mandela's autobiographies and insightful life stories - John's personal mantra: Robert Frost's "Two roads diverged in a yellow wood / I took the one less traveled by / And that's all the difference" - Ann's personal song: "Whatever Lola Wants" from Damn Yankees—she's created something from nothing and keeps iterating **Website:** Giraffe.org - **Teacher Materials:** Giraffe.org/teachers (free, digital, email sign-up) - **Contact:** Laura at Small and Gutsy (laura@smallandgutsy.org) - **Social Media:** Giraffe Heroes on TikTok, Instagram, YouTube Shorts **Ann Medlock** is a freelance editor, publicist, and writer who founded the Giraffe Heroes Project in 1981. She was named an Education Innovator by the National Education Association and received the Caring Institute's Caring Award. At 92 years old, she continues to lead the organization and develop new materials. **John Graham** is the Executive Director of Giraffe Heroes. A former US Foreign Service officer, he has worked on peace initiatives across Africa, Asia, and the Middle East. He has climbed Denali's north wall, hitchhiked around the world, and worked as a war correspondent. He and Ann have been partners for 44 years.

Send a textIt's a bittersweet day at The Wall Street Skinny, where we are recapping the SEASON FINALE!! While this one is lighter on finance than most episodes this season, we still dig into the mechanics of closing out a massive short position without spooking the tape. We also break down how hedge fund fees actually work — the industry-standard "two and twenty" structure where managers earn a 2% management fee on assets under management plus 20% of profits — and use that framework to reverse-engineer what this three-person fund operating out of a hotel room should have actually earned versus what got paid out. The numbers don't quite add up, and we have thoughts.This finale also takes a hard pivot into politics, power brokering, and some very dark territory for one of our favorite characters. We trace every reference and detail — from Walt Whitman to the Talented Mr. Ripley, George Orwell to Henry VIII — and debate what the show is setting up for its next chapter. Character arcs that have been building all season reach their breaking points, alliances shatter in stunning ways, and the episode forces us to ask whether people are truly capable of change or destined to become the very thing they fought against.We share our honest reactions to what worked and what left us frustrated, revisit our season-long theories one final time, and give our last bullish and bearish calls of the season. Thank you to every single listener who joined us on this ride — your feedback, theories, and insights made this our favorite recording day of the week. See you next season.For a 14 day FREE Trial of Macabacus, click HERE Visit https://iconnections.io/ to learn more about iConnections!Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

Send a textKristen and Jen tackle two major stories in this double emergency episode. First, Kristen breaks down latest update in the Warner Bros saga — how Paramount outbid Netflix with a $31/share offer, why Netflix walked away, and what the deal means financially. They cover the cursed history of Warner Bros. M&A deals, the staggering leverage Paramount is taking on (potentially the largest LBO ever), the accretion/dilution math that made this a non-starter for Netflix, and why it's an existential move for Paramount. They also get into the ticking fee structure, the $7 billion breakup fee, and why so many people are nervous about this outcome.Jen then covers the weekend's military action in the Middle East and how it's hitting markets on Monday. She walks through the relatively muted equity reaction, the split between defense stocks and travel names, the divergence between WTI and Brent crude, and why treasuries initially rallied before selling off. The yield curve is bare flattening as the market prices out near-term Fed cuts, since sustained oil price shocks would feed through to broader inflation beyond just energy. Gold is catching a bid as the classic risk-off trade, while Europe looks more vulnerable than the US to prolonged disruption given its energy dependence.Coming later this week: episodes recorded at the I Connections conference, including an Investor Relations 101 conversation and a look at where allocators are directing capital this year, with equity long/short and macro funds gaining ground over last year's private credit buzz.To subscribe to our substack click HEREFor a 14 day FREE Trial of Macabacus, click HEREShop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

This episode we'll be looking at a bunch of different references referring to the various provinces, particularly those on the far edges of the archipelago. For more, check out:  https://sengokudaimyo.com/podcast/episode-144   Rough Transcript Welcome to Sengoku Daimyo's Chronicles of Japan.  My name is Joshua, and this is episode 144: On the Edge The ships sat low in the water, bobbing gently against the docks at Naniwa.  The captain eyed them warily as the officials went over the manifest.  The Seto Inland Sea was generally calm and smooth sailing—at least compared to the open ocean, anywhere else -- and yet, as he looked, he could only think of how sluggish these ships would be.  They were laden down with cargo—silk, cloth, thread, and of course provisions for the men accompanying them.  But more than that, they were laden down with iron.  Tons of iron ingots, destined for the far reaches of the archipelago.  First to Suwa, but then on to the Dazai on Tsukushi, no doubt to be forged into weapons for the defense of Yamato. But that wasn't the captain's concern.  He just needed to make sure that the ships weren't weighed down too much:  as long as they remained buoyant, they would make the journey, even if they had to travel at a snail's pace to do it.  But if the ships sat too low in the water, then all it would take was some uncooperative waves and the ships, crew, and cargo, would be sent straight down to the palace of the dragon king, beneath the waves. Fortunately, with enough ships, it looked like that wouldn't be too much of a problem, as long as the goods were properly spaced out.  Now to just hope that the weather cooperated.  Even in the relatively safe waters of the Seto Inland Sea, you never know what could happen…     So last episode we talked about two large projects that Ohoama is said to have started.  First was the history project, which likely led to the Kojiki and the Nihon Shoki.  Second was the start of a brand new capital.  This episode, we are going from the macro, down to the micro—smaller events that just weren't covered in previous episodes.  For the most part the next few episodes are going to be a grab bag of various items, but I'm going to try and put some semblance of cohesion to this.  Next episode we'll be looking at some of the laws that they made, including the law code and examples of the kinds of punishment—and forgiveness—that the court could bestow.  This week, however, we are going to cover a bunch of stories focused on the areas outside of the Home Provinces.  We'll look at the Dazai in Tsukushi—and elsewhere.  We'll talk about how the provinces were governed, and what concerned them.  Granted, a lot of what concerned them, at least from the Chroniclers point of view, were taxes and economic production.  So we see recorded concern with taxes and with what was there—the land and the people that worked it.  Also with natural events, like droughts and tsunami, which would affect that same economic production.   We're starting off with the Dazai, and the person in charge there.  The Viceroy, as it is often called in English. The Dazai appears to have started off with something of a military purpose.  It was a gathering place before ships would sail off to the Korean peninsula, raiding up the rivers, or trading with their allies.  As the archipelago began to be more embroiled in the wars of the peninsula, it was that much more important.  And when Yamato's ally, Baekje, fell, and it looked like Silla and the Great Tang might turn their attention to the islands that had been a thorn in their side for so long, it became a bulwark against potential invasion. However, it also had another function.  It was the jumping off place for warships, but also for embassies and trading missions.  It was also the primary destination for most ships approaching Yamato.  They would take a route through Tsushima island, and then Iki island, and continue to the main coast of Tsukushi—Kyushu, and up and around to the sheltered waters of Hakata bay.  At some point they would even move that initial contact farther out, to Tsushima island itself.  Ships would dock on one side of the island, and transport their goods to a Yamato ship on the other side, with a pilot who knew the waters.  The local island officials could then send word ahead to the Dazai that they were coming.  No surprises, and nobody jumping the gun thinking that a fleet of warships was on their way. The Dazai played a key role in defense, trade, and diplomacy.  When the embassies arrived, they were entertained at the Dazai while word was sent to the court.  If the court deemed it appropriate, then they might have the ambassadors take the journey the rest of the way.  Otherwise, the court at the Dazai would stand in for the sovereign, and receive the messages, and various diplomatic gifts that were sent along. This was a powerful and also highly lucrative position, and it is reflected in the people who were granted the title.  This was the Dazai no Sochi, or Oho-mikoto-mochi no kami. We see the post held by Soga no Himuka in  649, during the Taika era.  Then we see Abe no Hirafu in the reign of Takara Hime, 655-661.  Hirafu would go on to become the Minister of the Left.  Then we see Prince Kurikuma. We talked about Prince Kurikuma before—he was Ohoama's ally in Tsukushi who refused the Afumi court's request for troops during the Jinshin no Ran.  He is one of the few figures that we have more than just a bit of information on.  For one thing, we have two different appointments to his position as viceroy in Tsukushi—there is one in 668, and another in 671, with Soga no Akae being given the post in between.  There are some questions about whether or not those were different people—the first one might have been someone named "Kurisaki" or "Kurimae", but it is generally assumed that was just misspelled, and it may be that there were just some questions as to when he was appointed.  We also know that he was a friend to Ohoama.  The Afumi court said as much, and in the Jinshin no Ran, when he and his sons stood up  to the Afumi court's request for troops, he came down heavily on Ohoama's side.  It is no wonder that he would have still been in such a powerful position.  His sons, by the way, are named as Prince Mino and Prince Takebe; we've seen what appears to be different Princes named Mino, but it is possible that this is the Prince Mino mentioned elsewhere in this part of the record. Sources suggest that Kurikuma was a descendant of the sovereign Nunakura, aka Bidatsu Tennou, and that he was an ancestor of the Tachibana clan.  There were stories about him in Tsukushi, beyond those in the Nihon Shoki, and while he isn't always named explicitly, one can infer that he hosted a number of embassies and ambassadors in his time.  In fact, in his position as head of the Dazaifu in Tsukushi, he was in what was perhaps the most lucrative post outside of Yamato.  In addition to being in charge of trade, diplomacy, and military readiness, the Dazaifu oversaw all of Tsukushi—the island of Kyushu, and was like a miniature representation of the central government. I suspect it is the military responsibilities that saw Kurikuma being appointed to the post of Director of Military Affairs—Tsuwamo-no-Tsukasa-no-Kami, or Heiseikan-cho. That was in the 3rd lunar month of 675, just a few years into Ohoama's reign. This would later be known as the Hyoubu-shou, or Ministry of War.  The appointment would not last long, however.  A year later, Kurikuma would pass away from disease.  Prince Kurikuma is one of those enigmatic and yet somewhat exciting individuals that exists beyond just the Nihon Shoki.   The Shoku Nihongi and later sources give us additional details, which may or may not be accurate.  Even moreso, there are stories in modern Nagasaki prefecture about Prince Kurikuma helping to regulate the animals that lived in the waters surrounding Kyushu.  According to the Shoku Nihongi record, he was reportedly granted the 2nd princely rank upon his death—which, if true, would seem to say a lot about how he was viewed at the time. Moving into the year 676, we see an edict that restricted governorships to individuals of the rank of Daisen and below.  The exceptions to this were the Home Provinces, Michinoku, and Nagato, and let's explore why these areas were excepted. Home Provinces make sense, as that is where the capital is and this more prestigious area was therefore deserving of a higher ranked noble.  Michinoku was the opposite geographically: it was the general wilderness of Tohoku, and the land of the Emishi.  It was also the farthest east of the capital, so I suspect they wanted someone of rank to handle that.  The governor of Nagato, however, is interesting.  Nagato is part of Honshu, the main island, just north of Kyushu, across the Shimonoseki strait.  Similar to Michinoku, Nagato was one of the most remote provinces on Honshu.  It was also an important province for potential defense and trade, and often coordinated with the Dazaifu in Tsukushi, to the south.  As such, it was also considered a more prominent posting than other governorships. It is somewhat interesting that the Dazaifu is not mentioned, but I suspect this is because the head of the Dazaifu was not, in fact, a governor, but more akin to a viceroy.  After all, they had to be entrusted with a certain amount of authority to be able to conduct military, trade, and diplomatic business without constantly sending back to the Yamato court for instruction.  We've already seen that there were Princes and other men of wealth and status who had been given that posting. Interestingly, in this reign we see at least one other viceroy—one other Dazai, or Ohomikotomochi—and that is in Kibi, of all places.  From what we can tell Kibi was one of the main rivals for power and authority in the prior centuries.  It has come up again and again in the stories.  Unfortunately, most of the stories only hint at what we think actually happened.  Today, when we talk about *the* Dazaifu we are almost exclusively talking about the one in Kyushu.  Besides being far flung from the center of power, it had huge responsibilities. Comparatively, though perhaps not as directly involved with trade, the rulers of Kibi were important figures, as demonstrated by the amount of manpower they were able to leverage for building their large, kingly tombs.  We talked somewhat about that back in Episode 48, looking at Tsukuriyama Kofun, one of the largest in the archipelago.  Furthermore, Kibi was well-placed on the Seto inland sea to be able to control the passage of ships.  The Kibi Dazai appears to have been established around the time of the Taika reforms, though it is only mentioned once in the Nihon Shoki, and I don't see any other examples of it.  There is also evidence that it was given authority over not just Kibi, but also the neighboring province of Harima.  Eventually, however, Kibi would be broken up into the three provinces of Bizen, Bitchu, and Bingo, and it would no longer need to be aggregated under a single administration.  Rather, each province would get its own governor, overseeing a much smaller part of the whole.  From this I can only assume that there may have been other, similar situations, prior to the various provinces being broken up like that. A couple months later, in the 5th month of 676, we are once again discussing governors.  First was a decree about governors who weren't paying their commuted taxes on time.  Aston goes on to note that non-rice taxes were due in the middle of the 8th month—at least for the home provinces.  Near provinces—a little farther away—taxes had to be received by the end of the 10th month, and for those a bit farther away—in the middle distance—they had to be there by the 11th month.  Finally,  the taxes from the farthest provinces were due by the end of the 12th month.  This would have given officials time to collect the taxes and to transport them all the way to the capital.  So when the chronicles talk about governors not paying on time, not keeping to this schedule may have been what the court was getting at—or at least some kind of similar schedule with deadlines, since it might have been modified over time.    Another record, that same month—actually a few days later—concerns specifically the governor of Shimotsukenu—or Shimotsuke, on the other side of Honshu.  He sent in a report that that province had been hit pretty hard that year with a poor harvest.  In fact, it was so bad that many peasants were seeking permission to sell their children.  The court ultimately denied the request, but this does speak to a rather disturbing—yet not exactly uncommon—cultural practice.  I don't think we need to get into the different nuances here, beyond a look at the fact that this was likely not a new practice, but it does seem that the appeal to the government for permission to sell one's children was something new.  Perhaps this came with all of the records and registrations that the government had undertaken to know who was in what household.  Regardless, one can hardly imagine that most parents would willingly take this option unless they had no other choice, and I suspect that it is meant to show both the desperation of the people in Shimotsuke, as well as the harsh benevolence of the sovereign, who would not permit the children to be separated from their families.  Of course, we aren't told how the court otherwise ameliorated the situation, since moral righteousness is tremendous, but doesn't suddenly fix the problems with the harvest or cause food to appear out of nowhere.  One hopes that the court at least sent some amount of rice or other provisions to help the people. Although it was Shimotsuke in the 5th month, in the 6th month we see a more general report of a large drought.  Messengers were sent throughout the land to get people to donate cloth, and make prayers to the kami, while Buddhist Priests called upon the power of the Three Precious Things.  It was all to no avail—the usual rains didn't come, so the wugu, the five grains didn't grow, and peasants starved.  The five grains per se are  rice, soybeans, wheat, and two types of millet, but in this case the term is just a stand-in for all types of agricultural produce. Possibly unrelated, but somewhat telling, two months later we see a record of the court granting sustenance-fiefs of all Royal princes and princesses down to the high ministers and female officials at the palace down to the rank of Shoukin.  So only two months after the peasants of Yamato were apparently starving, the court is handing out stipend increases to the elite.  So… yeah…. We do see a focus in the 8th month on an Oho-barai, or Great Purification.  I'm going to talk about this more in a future episode, though, so just noting here that they seem to have been working to purify the land and that may have been part of ongoing spiritual attempts to request the support of the kami in what appear to be difficult times.  There were also plenty of examples of attempts to make merit by demonstrating righteousness and reading various sutras. Moving on to the events of 677, things seem to have been going better than the previous year, so maybe all that merit-making had an effect?  Either way, we don't see any mention of droughts or famines this year, and we make it to the ninth month, when we see a notice that any vagabonds who returned after being sent back to their hometown would be set to forced labor.  Vagabond, in this case, is "furounin", or "person who floats on the waves".  This appears to be the origin of the term "Rounin", which would later refer to masterless samurai.  At this point it seems to refer mostly to commoners who were expected to work the land—and when workers abandoned the land that had implications for the government's tax base system.  So the State was invested in ensuring that people didn't just move somewhere else—at least without asking permission and being properly registered.  This does seem different from an actual fugitive, such as someone who was banished who tries to leave their place of banishment. The following month, the 10th month of 677,  we see that Kawabe no Omi no Momoye was appointed head of the Minbukyo, the Minister of the Interior.  In addition, Tajihi no Kimi no Maro was made a Daibu, or high official, of the province of Settsu.     The term "daibu" could just refer to high ministers of the court, but the "daibu" of a province appears to be similar to a governor, but with more expansive and comprehensive authority.  Settsu is one of the five home provinces, and as such an important part of the geographical heart of Yamato.   So we have the local chieftains, the governors, the viceroys at the Dazai, and also, apparently, a "high official" in some regions, each with what appear to be overlapping but slightly different portfolios. The next month we see that the Viceroy of Tsukushi—whoever had taken the place of Prince Yagaki—had his officials present a red crow to the court.  The person who caught the crow was granted five steps in rank—not a small reward.  Also, local officials had their own rank raised, and taxes were remitted to the peasants of that district for a year.  Finally, a general amnesty was announced across Yamato. We talked in Episode 141 how something like a red crow would have likely represented either the three-legged crow in the sun or the legendary Suzaku, the fiery bird of the south.  Either way, it was clearly an auspicious discovery.  It is interesting that we don't see any names at all associated with this event.  We do, however, see that people were no doubt incentivized to report such things up to the court.  Whoever found such a curiosity would likely have been celebrated by all of those around given the court's broad show of appreciation.  No doubt the local officials were more than pleased given that they were also likely to receive some of the benefits that accrued if the court was well pleased. As far as the type of events I'm focusing on this episode, there isn't much recorded between the red crow of 677 and a few years later in 682. Picking up in the 3rd month of that year, we get a record of the Emishi of Michinoku being granted court rank, incorporating them further into the growing Yamato polity.  As I talked about a little earlier, Michinoku on the other side of the archipelago, so this event really shows expansion of Yamato and solidification of its power over the rest of Honshu.  It is easy to forget that much of the Tohoku region was not firmly under Yamato control at this time.  They may have claimed it, but the people and culture there were still considered distinct and not a part of Yamato, proper.  But they were making inroads. In the following month, the 4th lunar month of the same year, 682, we are back on the west coast and see Tajihi no Mabito no Shima as the latest Viceroy of Tsukushi, sending as tribute a large bell.  It is somewhat interesting that, compared to the past few viceroys, Shima is actually a member of a noble family and *not* a Prince.  Of course, there was no requirement that the Dazaifu be overseen by a Prince—that certainly wasn't the case for Soga no Akaye, but it is interesting given how Ohoama had been making appointments, so far.  Even if they weren't princely, it is clear that this was an important posting, which says a lot for Tajihi no Shima, even if we didn't know anything more about him.  Fortunately, there are a few clues. For one thing, there are records that claim he was descended from one of the previous sovereigns, but he did not hold the title of "Prince".  That is reflected in his family's kabane of "Mabito", however, or "True person", which seems to indicate at least a nominal descent from a previous ruler.  Shima would continue to rise in the government, and would eventually serve as the Minister of the Right and then Minister of the Left, and at one point he would be the highest ranking noble in the government—though that was still a ways off.  All of this speaks to the importance of the position of viceroy, and probably gives us a clue as to why the Chroniclers were so interested in someone sending a bell, large as it might be, to the government. A day after the bell tribute arrived, Emishi of Koshi, including Ikokina and others, requested 70 households of prisoners of war to create a new district.  While we've talked about the Emishi of Koshi, before, what is particularly interesting is the request for prisoners of war—captives.  Were these Wajin, or Japanese, who had been captured by the Emishi and they were requesting permission to resettle them?  Were they asking for 70 households of people being held captive by the Yamato government?  It isn't clear.  It also isn't clear if "Ikokina" is the name of an individual or of multiple individuals.  Aston originally translated it as Itaka, Kina, and others, while Bentley's more recent translation suggests it is one name.  However, given that this is an Emishi name, being transliterated in Kanji through a Japanese translator, it is hard to know without further sources. From the fourth month to the 7th month of 682, we see a small entry that presents were given to men from Tanegashima, Yakushima, and Amami no Shima.  This simple entry is important mostly just because of its mention of continued contact with these islands south of Kyushu.  This helps us maintain some idea of the extent of Yamato's influence. In the late summer of 683, we once again see a drought.  It began in the 7th lunar month and lasted until the 8th.  A priest named Douzou prayed for rain and eventually obtained it. Douzou is said to have been a monk from Kudara, or Baekje.  Aston suggests that this means he was a priest of Kudaradera, but it isn't really clear to me.  In the early 8th month, we also see that there was a general amnesty ordered throughout Yamato, which I suspect was connected with the disaster of the drought and an attempt to help build merit and otherwise strengthen the state in the face of natural disaster and potential unrest. At the end of 683, we see a survey team being sent out.  The sovereign sent Prince Ise along with Hata no Kimi no Yakuni, Ohoshi no Omi no Homuchi, and Nakatomi no Muraji no Ohoshima with clerks and artisans to tour the realm and determine the border of the various provinces, but they were unable to determine them all in a year. This really must have been quite the task.  Certainly, the provinces were the ancient lands which people had been living in for some time, but there was never really a need for political lines on a map to determine where the boundaries were.  People generally knew if they were in one or the other, and unless there was a very contentious piece of property, mostly you didn't worry about which exact land or province you were in.  Now, however, the court was in the midst of trying to lock down all of the data about the land, including what was where and how much there was.  After all, their entire tax base was built on arable land, so they had to know where it was and what to expect.  There is no way that such a project was going to be completed in a single year. I would also note that Aston has this particular record misplaced.  He seemed to think it was on the 23rd day of the month, but it is then followed by the 17th.  It seems that Aston just got his dates wrong, and can you blame him?  There was a lot that he was dealing with. We do see, almost a year later, in the 10th month of 684, Prince Ise and others are once again sent to determine the boundaries of the provinces.  Second time's the charm, maybe?  Evidently not, because we then see another mention in the 10th month of 685, where the court gave them gifts of robes and trousers as they headed back out to the Eastern Countries one more time. In the 11th month of 684 we are given a small report of a huge disaster.  The governor of Tosa reported that a great tide had risen high, with an overflowing rush, and destroyed many of the ships used to convey tribute. Tosa is on Shikoku, facing out to the Pacific Ocean.  It is the first piece of dry land just past the continental shelf.  As such, a quake just off shore could create conditions not dissimilar to the 2011 disaster in Fukushima, and send a tsunami wave flooding the coastline.  It looks like that is what happened, which would have devastated the fleet.  Since Shikoku was an island, they relied on those ships to get taxes and tribute conveyed up to Yamato.  So this was Tosa letting the court know that the "sea ate my homework." I can't help but wonder if this tsunami wasn't related to an earthquake recorded for the month earlier, which we mentioned back in Episode 139.  It was a huge earthquake that seems to have had a tremdous impact.  Much of it was mentioned as being focused on the Toukaidou region, but that region still lies along a related fault line all the way down through Shikoku.  It may be that it took a while for the two events to be reported, and there may not have been an understanding that the event in one place could have had an impact elsewhere. I don't know if they had yet connected that earthquakes could cause tsunami or not.  On the other hand, it could be that it was a separate, but related quake, or even an aftershock, which caused the tsunami. Overall, the year 684 does not appear to have been the best.  We are told that in the lower district of Katsuraki, there was reported a chicken with four legs.  Then, in the district of Higami, in Tanba province, there was a calf born with twelve horns.  These don't sound like great omens, and given the tsunami, and the earthquake, and other such things, I can perhaps understand why the court focused on trying to do some merit-making towards the end of the year.  For instance they pardoned all criminals except those guilty of capital crimes.  And we are also told that Iga, Ise, Mino, and Wohari were notified that in future years, if they were paying commuted taxes—that is taxes other than rice, in lieu of service—that force labour would be remitted, and vice versa.   That is, if it was a year where they would pay in corvee labour, the commuted taxes would be remitted instead.  In other words, they didn't need to do both in one year.  Similarly , in the 7th lunar month of 685, we are told that the Provinces on the Tousandou, east of Mino, and the Toukaidou, east of Ise, were all exempted from sending in conscript laborers as part of their taxes. We aren't told exactly why any of this was done, but I suspect that it had something to do with either construction going on in those regions, or just needing to have people to work the fields.  Labor could always be remitted just because of something good like a good omen, but in the aftermath of a devastating earthquake, I wonder if there wasn't a lot of rebuilding that had to take place, and maybe the court just wanted to make sure those regions had the people they needed for those projects. The Tousandou and the Toukaidou were just two of the 7 official circuits around the archipelago.  In this case, the Toukaidou hugged the coastal areas, heading from Ise out to modern Tokyo.  Meanwhile, the Tousandou would have cut through the mountains in the middle of that area of Honshu, passing north of Fuji and through modern Gunma.    The other circuits were the San'youdou, the San'indou, the Nankaidou, the Hokurikudou, and Tsukushi, which was considered its own "circuit".  The San'youdou and San'indou were the Yang and Yin roads, going through the western part of Honshu. The San'youdou was along the Seto Inland Sea, while the San'indou was along the Japan sea.  The Nankaidou, or South Sea Road, was the Kii peninsula and Shikoku.  The Hokurikudou went north on eastern Honshu, through the Koshi region. Finally, Tsukushi, which would also be known as the Saikaidou, or Western Sea Road, was its own circuit In the 9th lunar month of 685 we see Commissioners or Royal Messengers appointed to six of the seven circuits, the Hokurikudou being the one left out.    The commissioners were to tour and inspect the provincial and district offices and make sure they were good.  Each person took a facility manager and a secretary to assist them.  Bentley notes that there is, in later legal codes, a role of "Inspector", who was similarly expected to tour and inspect the various provinces – but these were assigned on an as needed basis, so it wasn't a permanent position. Along with the inspection of the government offices, there was one other edict that same day in the 9th month of 685: the court ordered that male and female singers, as well as pipers/flute-players should pass down their skills to their descendants and make them practice singing and the flute.  Thus they effectively created hereditary musicians which, at the time, was how you made sure that you had the different professions and skillsets you needed to run the State. Then, in the 11th month of 685, we see a bunch of iron sent to the General Magistrate of Suwa.  How much is a bunch?  10,000 kin, which is thought to be equivalent to roughly 6.6 tons.  That is a huge amount of iron, assuming the record is true.  At the same time, the viceroy of Tsukushi requested 100 bolts of coarse silk, 132 pounds of thread, 300 bundles of cloth, 4000 feet of labor tax cloth, 6.6 tons of iron, and 2,000 sets of bamboo arrows.   And by all accounts, the court sent it all out.  No idea why—but there we go.  Presumably it was to make things—probably clothing and weapons. We see something similar in the 12th month, when the ships carrying the newest border guards out to Tsukushi were battered by bad seas and, eventually, they were left adrift in the water.  They were rescued, but lost all of their clothing, so rather than sending clothes, the court sent cloth.  450 bolts of cloth were sent, to be made into new sets of clothing for the soldiers.  Sending raw materials makes sense.  After all, there were likely artisans all over the place who just needed them.  Furthermore, that way you could customize the equipment to the people who would be using it, rather than shipping off finished goods. And with that, I think we are going to call it.  Next episode will be a similar overview, but we'll take a look at some of the laws that were passed, as well as how they dealt with law and order in the archipelago. Until then, if you like what we are doing, please tell your friends and feel free to rate us wherever you listen to podcasts.  If you feel the need to do more, and want to help us keep this going, we have information about how you can donate on Patreon or through our KoFi site, ko-fi.com/sengokudaimyo, or find the links over at our main website,  SengokuDaimyo.com/Podcast, where we will have some more discussion on topics from this episode. Also, feel free to reach out to our Sengoku Daimyo Facebook page.  You can also email us at the.sengoku.daimyo@gmail.com.  Thank you, also, to Ellen for their work editing the podcast. And that's all for now.  Thank you again, and I'll see you next episode on Sengoku Daimyo's Chronicles of Japan.  

My Will vs God's Voice | Similar But Not The Same | Josh Canizaro

2020年高考（上海卷）英语听力 短文（1）Every year in the U.S. about 133 million pounds of food goes to waste.在美国，每年大约有1.33亿磅食物被浪费掉。A lot of it is fruits and vegetables, like three legged carrots, and fought strawberries.其中很多是水果和蔬菜，比如三条腿的胡萝卜和草莓。They are deserted simply because they are not pretty enough to be displayed on store shelves.之所以被遗弃，仅仅是因为它们外形不够美观，不能陈列在商店的货架上。If you look at the big picture, about a third of the planet's food goes to waste for the same reason.如果从大局来看，地球上大约三分之一的食物都因为同样的原因被丢弃了。That's enough to feed 2 billion people. Now, a company called Imperfect Me is trying to change that situation.这些食物足够养活20亿人。现在，一家名为Imperfect Me的公司正试图改变这种状况。The company collects ugly fruits and vegetables from farmers and markets and sells them to local residents at a deep discount.该公司从农民和市场上收集卖相不佳的水果和蔬菜，然后以极低的价格卖给当地居民。It can be 30 to 50% of the regular price. Similar campaigns are underway in places like Boston, as well as Portugal and the UK.售价可以是原价的30%到50%。波士顿、葡萄牙和英国等地也正在进行类似的活动。For now, most chain supermarkets don't carry ugly fruits and vegetables.目前，大多数连锁超市都不出售外形不佳的水果和蔬菜。But Steve Clark's of Imperfect Me hopes the supermarkets will come around because customers want such food.但Imperfect Me公司的史蒂夫·克拉克希望超市能改变观念，因为顾客想要这样的食物。He says it is really easy to convince people when they realize they can pay a lower price to get the same kind of taste and health.他说，当人们知道低价就能收获同样的味道和健康时，说服他们真的不是问题。2020年高考（上海卷）英语听力 短文（2）A city in England has started an ambitious plan to plant as many as 1 million trees every year for the next decade.英国一座城市已经启动了一项雄心勃勃的计划，在未来十年里每年要种植多达一百万棵树。The project is called the City of Trees. Project director Tony Brown explained that the green venture has three main aims.这个项目被称为“树城”。项目主管托尼·布朗解释说，这个绿色项目有三个主要目标。He said, One is to plant a tree for every man, woman, and child over the next decade.他说，一个是在未来十年为每一位男性、女性和孩子种一棵树。Next,we are very much focused on bringing existing woodland into management其次，我们非常注重将现有林地纳入管理，because it doesn't make any sense to plant new woodland if you can't manage what you've got already.因为如果无法管理已有的林地，那么种植新的林地就没有任何意义。Finally,we want to engage people a lot more in their natural environment that is implanting trees in managing areas.最后，我们想让人们更多地参与到自然环境中来，比如在管理区域种植树木。And in understanding more about the benefits that trees and woodlands bring to our society,为了进一步了解树木和林地给社会带来的效益，Mr.Brown further outlined the reasons for the recently launched environmental project.布朗先生进一步阐述了最近发起这项环保工程的原因。He said our city wants to be a world class region.他说，我们的城市要成为一个世界级的地区。We have a lot of fantastic economic development going on, but the natural environment needs to keep up with that.我们有很多惊人的经济发展，但自然环境也不能掉队。He believes the project will reconnect people with trees and the natural world, provide benefits to health and reduce stress.他相信，这个项目将使人们重新与树木和自然世界联系起来，对健康有益，也能减轻压力。He said "woodlands can do great things in terms of air pollution reduction and can help to protect against noise pollution.他说：“林地在减轻空气污染和防止噪音污染方面的作用十分显著。They can also help cities and towns reduce the urban heat island effect and flooding".还可以帮助城镇缓解城市热岛效应和洪水灾害。”

Our Deputy Head of Global Research Michael Zezas and Stephen Byrd, Global Head of Thematic and Sustainability Research, discuss how the U.S. is positioning AI as a pillar of geopolitical influence and what that means for nations and investors.Read more insights from Morgan Stanley.----- Transcript -----Michael Zezas: Welcome to Thoughts on the Market. I'm Michael Zezas, Morgan Stanley's Deputy Head of Global Research.Stephen Byrd: And I'm Stephen Byrd, Global Head of Thematic and Sustainability Research.Michael Zezas: Today – is AI becoming the new anchor of geopolitical power?It's Wednesday, February 27th at noon in New York.So, Stephen, at the recent India AI Impact Summit, the U.S. laid out a vision to promote global AI adoption built around what it calls “real AI sovereignty.” Or strategic autonomy through integration with the American AI stack. But several nations from the global south and possibly parts of Europe – they appear skeptical of dependence on proprietary systems, citing concerns about control, explainability, and data ownership. And it appears that stake isn't just technology policy. It's the future structure of global power, economic stratification, and whether sovereign nations can realistically build competitive alternatives outside the U.S. and China.So, Stephen, you were there and you've been describing a growing chasm in the AI world in terms of access to strategies between the U.S. and much of the global south, and possibly Europe. So, from what you heard at the summit, what are the core points of disagreement driving that divide?Stephen Byrd: There definitely are areas of agreement; and we've seen a couple of high-profile agreements reached between the U.S. government and the Indian government just in the last several days. So there certainly is a lot of overlap. I point to the Pax Silica agreement that's so important to secure supply chains, to secure access to AI technology. I think the focus, for example, for India is, as you said; it is, you know, explainability, open access. I was really struck by Prime Minister Modi's focus on ensuring that all Indians have access to AI tools that can help them in their everyday life.You know, a really tangible example that really stuck with me is – someone in a remote village in India who has a medical condition and there's no doctor or nurse nearby using AI to, you know, take a photo of the condition, receive diagnosis, receive support, figure out what the next steps should be. That's very powerful. So, I'd say, open access explainability is very important.Now, the American hyperscalers are very much trying to serve the Indian market and serve the objectives really of the Indian government. And so, there are versions of their models that are open weights, that are being made freely available for health agencies in India, as an example; to the Indian government, as an example.So, there is an attempt to really serve a number of objectives, but I think this key is around open access, explainability, that I do see that there's a tension.Michael Zezas: So, let's talk about that a little bit more. Because it seems one of the concerns raised is this idea of being captive within proprietary Large Language Models. And maybe that includes the risk of having to pay more over time or losing control of citizen data. But, at the same time, you've described that there are some real benefits to AI that these countries want to adopt.So, what is effectively the tension between being captive to a model or the trade off instead for pursuing open and free models? Is it that there's a major quality difference? And is that trade off acceptable?Stephen Byrd: See, that's what's so fascinating, Mike, is, you know, what we need to be thinking about is not just where the technology is today, but where is it in six months, 12 months, 24 months? And from my perspective, it's very clear. That the proprietary American models are going to be much, much more capable.So, let's put some numbers around that. The big five American firms have assembled about 10 times the compute to train their current LLMs compared to their prior LLMs, and that's a big deal. If the scaling laws hold, then a 10x increase in training compute to result in models are about twice as capable.Now just let that sink in for a minute, twice as capable from here. That's a big deal. And so, when we think about the benefit of deploying these models, whether it's in the life sciences or any number of other disciplines, those benefits could start to get very large. And the challenge for the open models will be – will they be able to keep up in terms of access to compute, to training, access to data to train those models? That's a big question.Now, again, there's room for both approaches and it's very possible for the Indian government to continue to experiment and really see which approach is going to serve their citizens the best. And I was really struck by just how focused the Indian government is on serving all of their citizens. Most notably, you know, the poorest of the poor in their nation. So, we'll just have to see.But the pure technologist would say that these proprietary models are going to be increasing capability much faster than the open-source models.So, Mike, let's pivot from the technology layer to the geopolitical layer because the U.S. strategy unveiled at the summit goes way beyond innovation.Michael Zezas: Yeah, it's a good point. And within this discussion of whether or not other countries will choose to pursue open models or more closely adhere to U.S. based models is really a question about how the United States exercises power globally and how it creates alliances going forward.Clearly some part of the strategy is that the U.S. assumes that if it has technology that's alluring to its partners, that they'll want to align with the U.S.' broad goals globally. And that they'll want to be partners in supporting those goals, which of course are tied to AI development.So, the Pax Silica [agreement], which you mentioned earlier, is an interesting point here because this is clearly part of the U.S. strategy to develop relationships with other countries – such that the other countries get access to U.S. models and access to U.S. AI in general. And what the U.S. gets in return is access to supply chain, critical resources, labor, all the things that you need to further the AI build out. Particularly as the U.S. is trying to disassociate more and more from China, and the resources that China might have been able to bring to bear in an AI build out.Stephen Byrd: So, Mike, the U.S. framed “real AI sovereignty” as strategic autonomy rather than full self-sufficiency. So, essentially the. U.S. is encouraging nations to integrate components of the American AI stack. Now, from your perspective, Mike, from a macro and policy standpoint, how significant is that distinction?Michael Zezas: Well, I think it's extremely important. And clearly the U.S. views its AI strategy as not just economic strategy, but national security strategy.There are maybe some analogs to how the U.S. has been able to, over the past 80 years or so, use its dominance in military and military equipment to create a security umbrella that other countries want to be under. And do something similar with AI, which is if there is dominant technology and others want access to it for the societal or economic benefits, then that is going to help when you're negotiating with those countries on other things that you value – whether it be trade policy, foreign policy, sanctions versus another country. That type of thing.So, in a lot of ways, it seems like the U.S. is talking about AI and developing AI as an anchor asset to its power, in a way that military power has been that anchor asset for much of the post World War II period.Stephen Byrd: See, that's what's so interesting, Mike, [be]cause you've highlighted before to me that you believe AI could replace weaponry as really the anchor asset for U.S. global power. Almost a tech equivalent of a defense umbrella.So how durable is that strategy, especially given that some countries are expressing unease about dependency?Michael Zezas: Yeah, it's really hard to know, and I think the tension you and I talked about earlier, Stephen, about whether countries will be willing to make the trade off for access to superior AI models versus open and free models that might be inferior, that'll tell us if this is a viable strategy or not. And it appears like this is still playing out because, correct me if I'm wrong, it's not like we've received some very clear signals from India or other countries about their willingness to make that trade off.Stephen Byrd: No, I think that's right. And just building on the concept of the trade-offs and, sort of, the standard for AI deployment, you know, the U.S. has explicitly rejected centralized global AI governance in favor of national control aligned with domestic values.So, what does that signal about how global technology standards may evolve, particularly as in the U.S., the National Institute of Standards and Technology, or NIST, works to develop interoperable standards for agentic AI systems.Michael Zezas: Yeah, Stephen, I think it's hard to know. It might be that the U.S. is okay with other countries having substantial degrees of freedom with how they use U.S.-based AI models because they could use U.S. law to, at a later date, change how those models are being used – if there's a use case that comes out of it that they find is against U.S. values. Similar in some way to how the U.S. dollar being the predominant currency and, therefore, being the predominant payment system globally, gives the U.S. degrees of freedom to impose sanctions and limit other types of economic transactions when it's in the U.S. interest.So, I don't know that to be specifically true, but it's an interesting question to consider and a potential motivation behind why a laissez-faire approach might be, ultimately, still aligned with U.S. interests.Stephen Byrd: So, Michael, it sounds like really AI is becoming the new strategic infrastructure globally.Michael Zezas: Yeah, I think that's actually a great way to think about it. And so, Stephen, if that were the case, and we're talking about the potential for this to shape geopolitical competition, potentially economic differentials across the globe. And if that is correlated, at least, to some degree with the further development and computing power of these models, what do you think investors should be looking at for signals from here?Stephen Byrd: Number one, by a mile for me, is really the pace of model progress. Not just American models, but Chinese models, open-source models. And there the big reveal for the United States should be somewhere between April and June – for the big five LLM players. That's a bit of speculation based on tracking their chip purchases, their power access, et cetera. But that appears to be the timeframe and a couple of execs have spoken to that approximate timeframe.I would caution investors that I think we're going to be surprised in terms of just how powerful those models are. And we're already seeing in early 2026, these models that were not trained on that kind of volume of compute have really exceeded expectations, you know, quite dramatically in some cases. And I'll give you one example.METR is a third-party that tracks the complexity, what these models can do. And METR has been highlining that every seven months, the complexity of what these models are able to do approximately doubles. It's very fast. But what really got my attention was about a week ago, one of the LLMs broke that trend in a big way to the upside.So, if the scaling laws would hold, based on what METR would've expected, they would expect a model to be able to act independently for about eight hours, a little over eight hours. And what we saw was, the best American model that was recently introduced was more like 15. That's a big deal. And so, I think we're seeing signs of non-linear improvement.We're also going to see additional statements from these AI execs around recursive self-improvement of the models. One ex-AI executive spoke to that. Another LLM exec spoke to that recently as well. So, we're starting to see an acceleration. That means we then need to really consider the trade-offs between the open models and the proprietary. That's going to become really critical and that should happen really through the spring and summer.Michael Zezas: Got it. Well, Stephen, thanks for taking the time to talk.Stephen Byrd: Great speaking with you, Mike.Michael Zezas: And thanks for listening. If you enjoy Thoughts on the Market, please leave us a review wherever you listen. And share the podcast with a friend or colleague today.

Watch the latest episode of Stab in the Dark X starring Kelly Slater here https://stabmag.com/stabcinema/watch-... Any genuinely endearing conversation might hinge on seating Dane Reynolds next to someone improbable and letting the room do the work. Last week: the reigning world champ. This week: Kelly Slater, calling in from New Zealand. Four months post hip replacement, the greatest surfer of all time admits he can barely lift his knee into a car some days, but he insists the robo-hip already outperforms the real one, which had been dragging him through agony for the last four years. He'd been surfing through pain the whole time. Laird Hamilton personally rang to convince him to get on the operating table. A wellness check, from one absurdly fit old-boy to another. He also reveals that during Stab In The Dark X, his back seized up for four days straight. Bedridden and unable to walk without looking like a pretzel. But you can't keep a good goat down. He still paddled out, still tested six nearly identical boards, all while wrangling Snapper crowds and soft Gold Coast walls. Remarkably, Kelly admits to not having watched a single episode of SITD X. Not one. Just the Instagram clips. That's it. Is this the surf equivalent of Johnny Depp claiming he's never seen one of his own movies? Similar star power, frankly. On the topic of SITD, Kel talks candidly about the awkwardness of judging shapers while owning a board company himself, and why he never publicly burned a design, even when it deserved it. More interesting is his philosophy: shapers shouldn't try to guess what Kelly wants. He wants what they actually make, otherwise it's just pasteurised performance foam. From there, the gents get into lineup politics, snowboarding double blacks, and the simple economic reality that waves are limited, egos are not, hence grown men hissing over them. The ISA's new Olympic qualifying system gets a light public flogging. And yes, Kelly is a believer in the machine. Put Olympic surfing in a wave pool. Standardise it, industrialise it, flip the switch and hear the system roar.

With the recent passing of Jesse Jackson, we take a deeper look into the assassination of MLK Jr and how oddly it syncs up to Charlie Kirks death and if Jesses was acting as an Erika Kirk in 1968. 

In September 2023, UK consumer watchdog Which published research showing just how much cheaper budget brands can be. One striking example was the price of rice at Asda. Shoppers could get 1kg of Asda Just Essentials rice for 52 pence, while the store's standard own-brand Easy Cook Long Grain White Rice was £1.80 for the same quantity. That's 246% more. Similar cases were found at supermarkets like Sainsbury's, Tesco and Morrison's, on staple foods like baked beans, spaghetti and tea bags. The cost of living crisis has seen a lot of people switch to budget food brands in order to save. And an early 2023 survey by Attest found that 70.2% of Brits plan to stick with own-label brands, rather than reverting to premium options. What counts as a budget food brand? Are the products of good enough quality? In under 3 minutes, we answer your questions! To listen to the last episodes, you can click here: ⁠⁠Why is funflation causing us to spend more on live entertainment?⁠⁠ ⁠⁠Are gas cookers dangerous?⁠⁠ ⁠⁠How do I know if I'm allergic to gluten?⁠⁠ A podcast written and realised by Joseph Chance. First broadcast: 26/11/2023 Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, I'm taking you behind the scenes of my surrender experiment and sharing the surprising limiting belief that surfaced while I was in it. I talk about how fear and anxiety can actually point us straight to the subconscious blocks running the show, and how journaling and meditation helped me realize I wasn't being thrown into the deep end — I was being gently stretched. I also share how you can use tools like Human Design or Gene Keys to spot your own growth edge.  Because real growth isn't sudden immersion… it's intentional expansion. And I truly believe there's a perfect plan unfolding for each of us, even when we can't see the full picture yet. Similar episodes to this topic:  197: How To Identify Your Limiting Beliefs 244: Stop Overthinking! Your Next Step Is Already Calling You Join The Monthly Woo Woo Wednesday Live Meetup! Let's be friends on Instagram! Join The Weekly Nudge Email List!

Send a textWe teamed up with Guy Adami and Dan Nathan to discuss two major developing market stories ahead of meeting in Miami for the iConnections Global Alts conference. The first topic is stress in private credit, centered on Blue Owl's retail-focused semi-liquid vehicle (Blue Owl Capital Corp II) facing heavy redemptions and gating, highlighting the liquidity mismatch between retail redemption needs and long-dated loan assets. They contrast the gated evergreen structure with Blue Owl's publicly traded BDC that was trading roughly 20% below NAV, discuss Blue Owl's reported loan sales near NAV, and explore why the issue is pressuring related stocks like Blue Owl and Blackstone despite an S&P 500 that appears indifferent. The group connects the private credit conversation to how AI/data center buildouts are financed, including references to Meta-related structures and concerns about CoreWeave's ability to raise capital for data center obligations, and notes that credit markets often reprice quickly only after complacency breaks. The second topic is prediction markets, focusing on Kalshi and its partnership with Tradeweb to publish analytics and potentially enable institutional trading of binary outcomes on events like Fed decisions and macro data, raising questions about democratized access, liquidity constraints, regulatory gaps, spoofing, and the role of insider information, along with implications for politics and whether more information is always better.For a 14 day FREE Trial of Macabacus, click HERE Visit https://iconnections.io/ to learn more about iConnections!Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

He was born sometime in the mid-fourth century on an island in the Aegean. For a time he lived successfully in the world, receiving a good education in Constantinople, then serving for a time for the Prefect of the Praetorium. But, becoming aware of the vanity of worldly things, he answered Christ's call, gave away all his goods to the poor and entered a monastery in Syria. After four years in obedience, he came to feel that the security of monastic life was inconsistent with the Gospel command to take no thought for the morrow; so he withdrew to the desert, taking with him only his garment and the Book of the Gospel. There he lived alone for seven years.   At the end of this period he set out on an apostolic mission to Mesopotamia, where he brought many to Christ: the city prefect Rabbula was converted after Alexander brought down fire from heaven, and a band of brigands who accosted the Saint on the road were transformed into a monastic community. He finally fled the city when the Christians there rose up demanding that he be made bishop. He once again took up a solitary life in the desert beyond the Euphrates, spending the day in prayer and part of the night sheltered in a barrel. There he remained for forty years. His holiness gradually attracted more than four hundred disciples, whom Alexander organized into a monastic community. Each disciple owned only one tunic, and was required to give away anything that they did not need for that day. Despite this threadbare life, the monastery was able to set up and run a hospice for the poor!   Alexander was perplexed as to how the admonition Pray without ceasing (1 Thess. 5:17) could be fulfilled by frail human flesh, but after three years of fasting and prayer, God showed him a method. He organized his monks into four groups according to whether their native language was Greek, Latin, Syriac or Coptic, and the groups prayed in shifts throughout the day and night. Twenty-four divine services were appointed each day, and the monks would chant from the Psalter between services. The community henceforth came to be known as the Akoimetoi, the Unsleeping Ones. (Similar communities later sprang up in the West, practicing what was there called Laus Perennis; St Columban founded many of these.)   Always desiring to spread the holy Gospel, Saint Alexander sent companies of missionaries to the pagans of southern Egypt. He and a company of 150 disciples set out as a kind of traveling monastery, living entirely on the charity of the villages they visited. Eventually they settled in some abandoned baths in Antioch, setting up a there a monastery dedicated to the unceasing praise of God; but a jealous bishop drove them from the city. Making his way to Constantinople, he settled there with four monks. In a few days, more than four hundred monks had left their monasteries to join his community. The Saint organized them into three companies — Greeks, Latins and Syrians — and restored the program of unsleeping prayer that his community had practiced in Mesopotamia. Not surprisingly, his success aroused the envy and anger of the abbots whose monasteries had been nearly emptied; they managed to have him condemned as a Messalian at a council held in 426. (The Messalians were an over-spiritualizing sect who believed that the Christian life consisted exclusively of prayer.) Alexander was sent back to Syria, and most of his monks were imprisoned; but as soon as they were released, most fled the city to join him again. The Saint spent his last years traveling from place to place, founding monasteries, often persecuted, until he reposed in 430, 'to join the Angelic choirs which he had so well imitated on earth.' (Synaxarion)   The practice of unceasing praise, established by St Alexander, spread throughout the Empire. The Monastery of the Akoimetoi, founded by a St Marcellus, a successor of Alexander, was established in Constantinople and became a beacon to the Christian world. 'Even though it has not been retained in today's practice, the unceasing praise established by Saint Alexander was influential in the formation of the daily cycle of liturgical offices in the East and even more so in the West.' (Synaxarion)

In this episode of Woo Woo Wednesday, we're diving into a series of synchronicities that felt too aligned to ignore. What started as a few "hmm, that's interesting…" moments turned into a deeper exploration of surrender, divine timing, and the hidden order of the universe. Inspired by The Surrender Experiment book, I share how letting go of control has opened my eyes to how life is constantly organizing itself behind the scenes. This episode is about trusting the bigger picture, recognizing synchronicities when they show up, and allowing life to unfold without needing to force or control every outcome. When you zoom out, you might realize it's all far more connected than you thought. Similar episodes to this topic:  243: What If You're Receiving Guidance Differently Than You Expect? 204: Trusting the Bigger Picture: An Easier Path to Success Join The Monthly Woo Woo Wednesday Live Meetup! Let's be friends on Instagram! Join The Weekly Nudge Email List!

Send a textIn this episode, we're breaking down Season 4, Episode 7 of Industry, "Points of Emphasis" — and we have a lot of feelings. We walk you through all the major plot developments, from Whitney's attempted escape and his terrifying confrontation with what appears to be his foreign handlers, to Yasmin's ruthless political maneuvering to bring down Lisa Dern and protect herself as Tender collapses around her.Along the way, we dig into the finance: what a hostile takeover actually is and why Whitney's stock-for-stock bid for PierPoint is more smoke and mirrors than strategy, the real-world Porsche-Volkswagen story that inspired Whitney's synthetic position playbook (and why it still wouldn't be legal today), and why Harper's team is covering their short carefully as the stock craters.We also get into the emotional core of the episode: Lord Norton's heartbreaking decision to let Henry face the consequences, the long-awaited Harper and Yasmin reconciliation, and what Yasmin's admission that she's "never been necessary" might be setting up for the season finale.Share your theories and let us know where you think this all ends for our characters!For a 14 day FREE Trial of Macabacus, click HERE Visit https://iconnections.io/ to learn more about iConnections!Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

0:00 - I'm sorry, Podcast listeners. These goal/Merica montages don't sound the same without Free Bird in the background. Stupid copyright rules. I guess you'll have to envision the freedom in your head for the full experience.Anyway, USA beat Canada yesterday in hockey to wrap up the Olympics on a high note. Now look...a silver medal is nothing to sneeze at! That's an amazing accomplishment. But Team Canada looked incredibly crushed and depressed as they received their medals. And what made it worse...they all received a plushie doll of the Olympics mascot too. Nathan MacKinnon had to use every ounce of self control in his system to not rip the head off that damn thing. Moser said that's unacceptable. You canNOT give a grown man a stuffed animal as a consolation prize.17:38 - The Avalanche and the Nuggets are facing similar problems right now. What used to be their greatest strength is now their biggest weakness. What's the fix?30:08 - Oh, by the way...the Cowboys extended Javonte Williams. Is it the right value? Oh, by the way...the Canadian curling cheater spoke up about the controversy. Oh, by the way...the Avs are getting a minor league team in New Mexico!

Abe Gordon and Madison Crews recap the aftermath of Atlanta United's 2-0 road loss to FC Cincinnati in what was new head coach, Gerardo "Tata" Martino's debut with the club.

A new coach and a new day is coming to Pittsburgh football but the win total might just remain a constant. Steel Curtain Network's Jeff Hartman, Dave Schofield and Bryan Anthony Davis break it all down on their latest episode from the Fans First Sports Network. Check out our exclusive 20% off deals with Hyper Natural, Big Fork Brands, and Strong Coffee Company ⁠⁠⁠HERE⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode of the Crazy Wisdom podcast, host Stewart Alsop sits down with Markus Buehler, the McAfee Professor of Engineering at MIT, to explore how seemingly different systems—from proteins and music to knowledge structures and AI reasoning—share underlying patterns through hierarchy, self-organization, and scale-free networks. The conversation ranges from the limits of current AI interpolation versus true discovery (using the fire-to-fusion example), to the emergence of agent swarms and their non-linear effects, to practical questions about ontologies, knowledge graphs, and whether humans will remain necessary in the creative discovery process. Markus discusses his lab's work automating scientific discovery through AI agents that can generate hypotheses, run simulations, and even retrain themselves, while Stewart shares his own experiences building applications with AI coding agents and grapples with questions about intellectual property, material science constraints, and the future of human creativity in an AI-abundant world.Timestamps00:00 - Introduction to Marcus Buehler's work on knowledge graphs, structural grammar across proteins, music, and AI reasoning05:00 - Discussion of AI discovery versus interpolation, using fire and fusion as examples of fundamental versus incremental innovation10:00 - Language models as connective glue between agents, enabling communication despite imperfect outputs and canonical averaging15:00 - Embodiment and agency in AI systems, creating adversarial agents that challenge theories and expand world models20:00 - Emergent properties in materials and AI, comparing dislocations in metals to behaviors in agent swarms25:00 - Human role-playing and phase separation in society, parallels to composite materials and heterogeneity30:00 - Physical world challenges, atom-by-atom manufacturing at MIT.nano, limitations of lithography machines35:00 - Synthetic biology as alternative to nanotechnology, programming microorganisms for materials discovery40:00 - Intellectual property debates, commodification of AI models, control layers more valuable than model architecture45:00 - Automation of ontologies, agent self-testing, daughter's coding success at age 1150:00 - Graph theory for knowledge compression, neurosymbolic approaches combining symbolic and neural methods55:00 - Nonlinear acceleration in AI, emergence from accumulated innovations, restaurant owner embracing AI01:00:00 - Future generations possibly rejecting AI, democratization of knowledge, social media as real-time scientific discourseKey Insights1. Universal Patterns Across Disciplines: Seemingly different systems in nature—proteins, music, social networks, and knowledge itself—share fundamental structural patterns including hierarchy, self-organization, and scale-free networks. This commonality allows creative thinkers to draw insights across disciplines, applying principles from one domain to solve problems in another. As an engineer and materials scientist, Buehler has leveraged these isomorphisms to advance scientific understanding by mapping the "plumbing" of different systems onto each other, revealing hidden relationships that enable extrapolation beyond what's observable in any single domain.2. The Discovery Versus Interpolation Problem: Current AI systems, particularly large language models, excel at interpolation—recombining existing knowledge in new ways—but struggle with genuine discovery that requires fundamental rewiring of world models. Using the example of fire versus fusion, Buehler explains that an AI trained on combustion chemistry would propose bigger fires or new fuels, but couldn't conceive of fusion because that requires stepping back to more fundamental physics. True discovery demands the ability to recognize when existing theories have boundaries and to develop entirely new frameworks, something current AI architectures aren't designed to achieve due to their training objective of predicting the most likely outcome.3. The Role of Ontologies and Knowledge Graphs: While some AI researchers argue that ontologies are unnecessary because models form internal representations, Buehler advocates for explicit knowledge graphs as essential discovery tools. External ontologies provide sharp, analytical, symbolic representations that complement the fuzzy internal representations of neural networks. They enable verification of rare connections—like obscure papers that might hold key insights—which would be averaged away in standard AI training. This neurosymbolic approach combines the generalization capabilities of neural networks with the precision of formal knowledge structures, creating more powerful discovery systems.4. Emergent Properties and Agent Swarms: Just as materials science shows that collections of atoms exhibit properties impossible to predict from individual components, AI agent swarms demonstrate emergent behaviors beyond single models. When agents are incentivized not just to answer questions but to challenge each other adversarially, propose theories, and test hypotheses, they can spawn new copies of themselves and evolve understanding beyond their initial programming. This emergence isn't surprising from a materials science perspective—dislocations, grain boundaries, and other collective phenomena only appear at scale, fundamentally determining material behavior in ways unpredictable from studying just a few atoms.5. The Commoditization of Intelligence: The fundamental AI models themselves are becoming commodities, as evidenced by events like the Moldbug phenomenon where people built agents using various providers interchangeably. The real value is shifting from who has the smartest model to how models are orchestrated, integrated, and deployed. This parallels historical technology adoption patterns—just as we moved past debating who makes the best electricity to focusing on applications, AI is transitioning from a horse race over model capabilities to questions of infrastructure, energy, access speed, and agent coordination at the systems level.6. Human-AI Collaboration and Creative Control: Rather than wholesale replacement, AI enables humans to operate in an intensely creative space as orchestrators sampling from vast possibility spaces. Similar to how Buehler's 11-year-old daughter now builds sophisticated applications that would have required professional developers years ago, AI democratizes access to capabilities while humans retain the creative judgment about direction and meaning. The human role becomes curating emergence, finding rare connections, playing at the edges of knowledge, and exercising the kind of curiosity-driven exploration that AI systems lack without embodied stakes in their own survival and continuation.7. Technology as Evolutionary Inevitability: The development of AI represents not an unnatural threat but the next stage of human evolution—an extension of our innate drive to build models of ourselves and our world. From cave paintings to partial differential equations to artificial intelligence, humans continuously create increasingly sophisticated representations and tools. Attempting to stop this technological evolution is futile; instead, the focus should be on steering it ...

At its core, the case hinges on a straightforward legal framework: sex trafficking of minors involves recruiting or obtaining someone under eighteen for sexual activity in exchange for money or something of value. The conduct described in this instance followed a consistent pattern. Underage girls were allegedly approached with offers of cash for “massages,” encounters escalated into sexual acts, and payments were made afterward. Reports further described a referral system in which girls were encouraged to bring other girls and were compensated for doing so. Because minors cannot legally consent to commercial sex, the presence of payment and recruitment carries decisive legal weight. The absence of overt force does not negate the charge when the alleged victims are under eighteen.The allegations were not confined to a single episode or location. Similar accounts surfaced across multiple properties and over an extended period, suggesting repetition and coordination rather than isolated misconduct. Critics note that a prior plea agreement and the lack of a completed federal trial do not eliminate the factual allegations that formed the basis of later indictments. The commercial element—cash tied to sexual access involving minors—remains central. When recruitment, payment, and repetition converge, investigators and prosecutors characterize that structure as organized commercial sexual exploitation of minors. Stripped of political framing, the factual framework aligns with the statutory definition of sex trafficking.to contact me:bobbycapucci@protonmail.com

Send a textKristin Olson, Goldman Sachs' Head of Alternatives for Wealth and Asset and Wealth Management, sits down with us for the most candid, no-fluff conversation about private equity and private credit we've ever had. .She walks us through the very real benefits of investing in private capital while also answering the cynical questions: do “retail” investors in private equity products like evergreen funds and perpetual funds get the A-team investors? Are those structures getting the best deals? How do the fees compare to the fees on products for institutional investors? Plus, If more buyers flood the market, does that push prices up and compress returns? Kristin breaks down for us how this whole ecosystem actually works, she discusses the biggest shift in private markets right now, and the pros and cons of newer structures that aim to make private assets feel more like “normal investing.” Finally, we go deep on what investors should actually ask before putting money into private equity and private credit. Kristin talks us through how fees can be misleading, when carry is taken, hurdle rates, gating/redemptions, and what “liquidity” really means when markets get stressed. This is an episode every investor should listen to before putting private capital into their portfolio.For a 14 day FREE Trial of Macabacus, click HERE Visit https://iconnections.io/ to learn more about iConnections!Shop our Self Paced Courses: Investment Banking & Private Equity Fundamentals HEREFixed Income Sales & Trading HERE Wealthfront.com/wss. This is a paid endorsement for Wealthfront. May not reflect others' experiences. Similar outcomes not guaranteed. Wealthfront Brokerage is not a bank. Rate subject to change. Promo terms apply. If eligible for the boosted rate of 4.15% offered in connection with this promo, the boosted rate is also subject to change if base rate decreases during the 3 month promo period.The Cash Account, which is not a deposit account, is offered by Wealthfront Brokerage LLC ("Wealthfront Brokerage"), Member FINRA/SIPC. Wealthfront Brokerage is not a bank. The Annual Percentage Yield ("APY") on cash deposits as of 11/7/25, is representative, requires no minimum, and may change at any time. The APY reflects the weighted average of deposit balances at participating Program Banks, which are not allocated equally. Wealthfront Brokerage sweeps cash balances to Program Banks, where they earn the variable APY. Sources HERE.

Conrad Black reflects on former Prime Minister Stephen Harper's conservative achievements and analyzes current leader Pierre Poilievre's similar but more comprehensive vision to rescue Canada's stagnating economy.1924 MANITOBA

0:00 Intro 0:09 Similar interests 3:37 Struggle 13:03 Bad relationship Learn more about your ad choices. Visit megaphone.fm/adchoices