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Andrew Ambrosino leads development of the Codex desktop app at OpenAI. Nearly 100% of OpenAI employees—not just engineers—now use Codex weekly. A lifelong builder with a background spanning engineering, design, product management, and founding companies, he is now responsible for turning the Codex desktop experience into what he calls “the best desktop app that has ever existed, full stop.”In our in-depth conversation, we discuss:1. Why AI has completely flipped the product development process2. What “taste” really means as a professional skill, and why it is emerging as the most valuable capability in an AI-first workplace3. Why Andrew believes the Codex app would have failed if they launched it last November (vs. in February)4. The “zone defense” model for how product managers at OpenAI operate when everyone can build anything5. How roles are collapsed on Andrew's team, and why eliminating the concept of roles entirely is a big mistake6. How Andrew uses Codex to run his own workflows7. The vision for a home base that coordinates work across ChatGPT, Codex, and the tools people already use.—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and moreMercury—Radically different banking, now with Command—Episode transcript: https://www.lennysnewsletter.com/p/openais-codex-lead-on-the-new-shape—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Andrew Ambrosino:• X: https://x.com/ajambrosino• LinkedIn: https://www.linkedin.com/in/ajambrosino• Website: https://ambrosino.io—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Andrew Ambrosino(02:30) How AI is changing the shape of product work(06:32) When to use documents vs. prototypes(10:25) What “taste” actually means(12:06) Why AI is still bad at design(16:18) Is the design process really dead?(21:35) What the design process looks like on the Codex team(23:41) Are product functions disappearing?(27:22) Team structure(30:12) IC vs. management(31:37) Planning roadmaps(35:16) Building features that don't work yet(38:13) The ambition problem: when you're too AGI-pilled(39:17) The latest frontier: loops and autonomous development(52:05) How Andrew uses Codex to automate his entire job(46:52) The power of computer use and browser automation(49:10) Will we run all our SaaS apps inside Codex?(52:05) The future vision for Codex(57:20) The videographer who built a Premiere Pro extension with Codex(59:30) Failure corner(1:01:50) Lightning round(1:07:03) BTS: How our producer uses Codex for editing—References: https://www.lennysnewsletter.com/p/openais-codex-lead-on-the-new-shape—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
My guest today is Vlad Barbalat, the Chief Investment Officer of Liberty Mutual Investments, the $120 billion investment platform that sits within one of the largest insurance companies in the world. Vlad grew up in Soviet Moldova, came to America in 1990, and built a career that eventually led him to one of the most distinctive capital allocator seats anywhere in finance. Today we talk about how the mutual insurance structure creates a unique investment platform, what Liberty looks for in a new deal or partner, and what it means to build a career and a life in a country that gave you opportunities you never would have had anywhere else. Please enjoy my conversation with Vlad Barbalat. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgeline.ai. ----- Editing and post-production work for this episode was provided by The Podcast Consultant. Timestamps: (00:00:00) Welcome to Invest Like The Best (00:00:53) Vlad Barbalat (00:01:28) The Most Interesting Seat in the Market (00:05:53) Breaking Down the $120B (00:10:41) How the Portfolio Is Constructed (00:11:00) The House View (00:13:49) What Liberty Looks for in a GP (00:16:32) Why Not Just Buy Bonds (00:18:30) Benefits of the Mutual Structure (00:23:40) The Luxury of the American Citizen Through Immigrant Eyes (00:30:26) How Immigration Shaped His Worldview (00:32:45) Direct Deals vs. GP Allocations (00:35:23) Branded Capital (00:39:07) Geopolitics & Investing (00:43:48) AI's Impact on Investing (00:46:22) The Valuation Debate (00:50:47) Public vs. Private Markets (00:53:53) Lessons from Goldman (00:54:41) Why Excellence Matters (00:57:30) Managing Permanent Capital (01:03:54) The Kindest Thing
Phishing-resistant MFA could have stopped a Chinese state-sponsored threat actor from spending over a year inside North American academic and medical research networks — and we're going to tell you exactly how it happened and what you need to do about it.A group called UNC5608, tracked by Google's Threat Intelligence Group (GTIG), exploited a vulnerability unique to REDCap — a research data platform that allows multiple software versions to run simultaneously. They got in via stolen admin credentials, planted custom malware called Infinite.red directly into REDCap's upgrade process, harvested credentials for over a year, then used those credentials to log into Google Workspace as a domain admin and create fake compliance rules to silently forward sensitive research emails — military strategy, geostrategic policy, advanced tech, specific pathogens — straight to Gmail accounts they controlled. And nobody noticed for a very long time.Prasanna and I break down the full attack chain, then walk through every prevention layer that could have stopped it: inventory management, patching, password hygiene, SSO, phishing-resistant MFA, passkeys, DBSC, context-aware access, compliance rule monitoring, credential separation across security domains, and logging. We also get into what backups can and can't do for you in a long-dwell-time attack like this — and why infrastructure-as-code and truly immutable golden images matter more than you might think.If you're running any kind of research platform, academic institution, or medical network — or honestly any organization that uses Google Workspace — this one's for you.Chapters:00:00 — Intro: The attack that phishing-resistant MFA could have stopped01:03 — Show intro & woodworking banter03:26 — What is a living-off-the-land attack?04:02 — Who is UNC5608 and who did they target?05:08 — How REDCap's multi-version design was exploited06:11 — Infinite.red malware and credential harvesting09:01 — Google Workspace infiltration via fake compliance rules10:18 — The keywords they were stealing: pathogens, military strategy, and more11:50 — What could the victims have done differently?12:42 — Inventory management, patching, and legacy version removal14:00 — Why you can't trust application-level authentication alone — use SSO15:18 — Phishing-resistant MFA and why it matters16:00 — Passkeys, FIDO, and why there are zero known attacks against them17:57 — Device-bound session credentials (DBSC) and context-aware access19:38 — Monitor your compliance rules — have a compliance rule for the compliance rule20:40 — Credential separation across security domains23:00 — Get some logging — XDR, SIEM, and catching exfiltration in progress24:00 — What can backups actually do in a long-dwell-time attack?27:00 — Infrastructure-as-code and the right cyber recovery approach28:58 — Protecting your golden images with immutable storage31:59 — Wrap-up
S05E121 | Monday, 22 June 2026 Hosts: Anna & Avery | astronomydaily.io | @AstroDailyPod Story 1 — Dark Matter Is Hugging Our Galaxy's Black Hole • Virginia Tech researchers used 'echo mapping' — light reverberations around active black holes — to detect dark matter signatures • Supermassive black holes including Sgr A* (Milky Way) appear surrounded by dense dark matter clusters • Lead researcher Mayank Sharma: 'The observational evidence for dark matter is simply undeniable' • Published in Physical Review D, June 11, 2026 • Provides a new tool for probing dark matter in the most extreme gravitational environments Story 2 — Swift Rescue Mission: Launch Date Confirmed • NASA's Neil Gehrels Swift Observatory launched 2004; has been losing altitude due to atmospheric drag — no thrusters to compensate • Katalyst Space Technologies built LINK — a robotic servicer with 3 robotic arms and xenon Hall-effect thrusters • Northrop Grumman's Stargazer aircraft departed Wallops Flight Facility June 18 carrying Pegasus XL + LINK • Launch from Kwajalein Atoll, Marshall Islands: confirmed for June 27, 2026 • LINK must chase down Swift, inspect it, and latch on — a first-of-its-kind robotic capture mission • Critical altitude threshold: if Swift drops below 185 miles (300 km), rescue becomes impossible • Success would give Swift another ~22 years of science at its original 600 km altitude Story 3 — Chandra Spots a Supernova Near the Galactic Centre • NASA Chandra, ESA XMM-Newton, and MeerKAT (South Africa) detected a 'blue blob' of X-ray emission in Sagittarius C • Sagittarius C is a star-forming region ~26,000 light-years from Earth, a few dozen light-years from Sgr A* • Estimated age: ~1,700 years — light from the explosion would have reached Earth around 300 AD • Expansion speed: approximately 2 million miles per hour • Published in The Astrophysical Journal (Zhu et al., June 11); NASA APOD June 18 • If confirmed, one of the closest supernova remnants ever found to the Milky Way's central black hole Story 4 — MAVEN: The Eulogy • MAVEN (Mars Atmosphere and Volatile Evolution) launched November 2013; arrived Mars September 2014 • Original mission: 1 year. Actual mission: 11+ years — ended June 3, 2026 • Last contact: December 6, 2025 — entered fast spin, batteries drained, unrecoverable • Key discoveries: atmospheric escape rates, solar storm acceleration of Mars atmosphere loss, atmospheric sputtering (first observed at any planet), new types of Martian aurora • Also served as communications relay for Curiosity and Perseverance rovers • PI Shannon Curry's epitaph: 'Best Mars mission ever.' — 800+ scientific publications • MAVEN will remain in Mars orbit 50–100 years before eventually entering the Martian atmosphere Story 5 — Operation Period: First-Ever Space Menstruation Study • Non-profit Operation Period, led by Manju Bangalore and Priya Abiram, announced OP-01 mission on June 19 • First dedicated scientific study of menstruation in microgravity — despite 100+ women having flown to space • Current practice: astronauts typically suppress menstruation during spaceflight with hormones — due to lack of data, not proven necessity • OP-01: suborbital Virgin Galactic flight in 2027; researchers will conduct the study on themselves • Research wing: Operation Period's 'Redshift Lab' • Data vital for longer missions — Moon, Mars — where menstrual health management matters more Story 6 — Isar Aerospace's Spectrum Rocket: Europe Keeps Trying • Isar Aerospace (Ottobrunn, Germany): Europe's most advanced commercial small launch startup — 800M+ euros raised • Spectrum rocket: 28m tall, up to 1,000 kg to LEO, 700 kg to SSO; 10 engines • First flight (March 2025): failed after 30 seconds — vent valve opened unexpectedly, rocket lost attitude control • Second flight 'Onward and Upward': carrying 5 university cubesats + 1 experiment; backed by ESA Boost! programme • 2026 scrubs: January (pressurisation valve), March (fuel temp/fishing vessel), April (pressure vessel), June 15 (fluid system anomaly) • Current status: no new launch date; Andøya window reportedly closed; Isar analysing data • Context: part of ESA's European Launcher Challenge — must achieve orbital flight by 2027 to qualify for up to €205MBecome a supporter of this podcast: https://www.spreaker.com/podcast/astronomy-daily-space-news-updates--5648921/support.Sponsor Details:Ensure your online privacy by using NordVPN. To get our special listener deal and save a lot of money, visit www.bitesz.com/nordvpn. You'll be glad you did!Become a supporter of Astronomy Daily by joining our Supporters Club. Commercial free episodes daily are only a click way... Click HereThis episode includes AI-generated content.
Fiona Fung leads the teams behind Claude Code and Cowork at Anthropic (overseeing Boris Cherny and the entire engineering and PM team). Before Anthropic, she spent 11 years at Microsoft building Visual Studio and TypeScript and then moved to Meta, where she started Facebook Marketplace (now generating over $100 billion in GMV annually), worked on Meta's first smart glasses and AR glasses, and led infrastructure, growth, integrity, and safety teams at Instagram. She's been an engineer for over 25 years and has a unique perspective on how the role of building software is changing.In our in-depth conversation, we discuss:1. What she's learned about running a team that's shipping 8x more code than before2. Which roles AI will transform next3. Specific ways her team uses AI4. How Claude “routines” have changed how she operates as a manager5. The context-switching problem no one has solved yet6. The biggest unsolved problem in AI7. What keeps her up at night—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyMercury—Radically different banking, now with Command: https://mercury.com/—Where to find Fiona Fung:• LinkedIn: linkedin.com/in/fionafung—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Fiona Fung(02:31) How the engineering role has transformed over 25 years(09:28) What an AI-pilled software team looks like in 2026(12:26) Using Claude to manage and review team output(14:40) The evolution of code review and verification(16:55) Who to hire: creative builders and deep systems experts(18:18) The shift to ambitious thinking(19:40) The growth mindset required to thrive in AI-native teams(25:52) Helping small businesses adopt AI tools(31:46) How Anthropic spots latent demand and builds for it(35:08) The next frontier: asynchronous work with AI routines(38:06) Agency and accountability in AI-native teams(39:40) The vibe shift from token-maxing to ROI measurement(44:24) The “bad vs. sad” quality framework(49:34) Why all managers start as ICs at Anthropic(55:24) Preventing skill atrophy(58:43) Managing context switching with 20 AI agents running(1:00:08) How PM and data science roles are transforming(1:03:40) The importance of dogfooding and using your own product(1:08:36) Outstanding questions(1:12:48) The future of engineering jobs and education(1:17:59) What keeps Fiona up at night: team culture at scale(1:22:53) From six-month roadmaps to JIT (just-in-time) monthly planning(1:27:03) Lightning round—References: https://www.lennysnewsletter.com/p/building-the-most-ai-pilled-engineering—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
My guest today is Kareem Amin, co-founder and CEO of Clay. Clay has become one of the fastest-growing software companies of the last few years, valued at over four billion dollars. It helps companies find their best customers and reach them at scale. But this conversation is about a lot more than Clay. Kareem is one of the most original thinkers I know. We talk about the statues he keeps at the center of how he runs Clay — truth, justice, and courage — and what those words demand of him in practice. We talk about risk, ambition, and what he learned about both on a ten-day silent meditation retreat. I've had a lot of conversations with Kareem over the years. This is one I'll remember. Please enjoy this unique conversation with Kareem Amin. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Kareem Amin (00:03:07) Clay's Origin (00:10:50) Truth, Courage and Justice (00:16:09) Adulation (00:18:28) Risk, Courage & Self-Respect (00:21:14) Jony Ive & Steve Jobs (00:21:42) Role of Introspection (00:23:08) Lack to Wholeness (00:27:27) The Day Five Insight (00:29:57) Running a Startup Unusually (00:34:41) Learning from Magicians (00:36:27) Music's Role in Your Life (00:39:38) Making People Feel Something New (00:41:20) Vision in Company Building (00:44:29) Wealth & What It's Taught You (00:47:40) All Problems Are Communication Problems (00:52:14) Death Doula & Scaling (00:55:06) The Kindest Thing
For years, cybersecurity leaders have focused on identity as the new perimeter. MFA, Zero Trust, SSO, and identity protection became the center of modern security strategies.But while everyone was focused on identity, attackers never stopped targeting something much older: internet-facing infrastructure.VPNs. Firewalls. Remote access appliances.Recent attacks involving Check Point, Fortinet, Ivanti, SonicWall, and others show that the perimeter never really disappeared.In this episode, Tyler Moffitt discusses why edge devices remain prime ransomware targets, why patch windows matter more than ever, and why vulnerability management remains one of cybersecurity's most important fundamentals.As featured on Million Podcasts' Best 100 Cybersecurity Podcasts Top 50 Chief Information Security Officer CISO Podcasts Top 70 Security Hacking PodcastsThis list is the most comprehensive ranking of Cyber Security Podcasts online and we are honoured to feature amongst the best!Follow or subscribe to the show on your preferred podcast platform.Share the show with others in the cybersecurity world.Get in touch via reimaginingcyber@gmail.com
Mark Pincus founded Zynga—the company behind Words With Friends, FarmVille, and Zynga Poker—and has arguably created more hit consumer products than anyone in history. At Zynga, eight of 10 major game launches became massive hits, reaching over a billion players. Over the past five years, Mark has been synthesizing everything he's learned about building successful consumer products and turning it into a book, Life at the Speed of Play, which comes out on June 23. This is the first interview he's done about the book.In our in-depth conversation, we discuss:1. His “Proven, Better, New” framework: copy what's proven, make it better so that 10 out of 10 people say “f*ck yes, I'll use this”—then add something new2. Why being less ambitious is the path to the most ambitious ideas3. His rule of thumb that your instincts are right 95% of the time, but your ideas are wrong 75% of the time4. “Kill hope before hope kills you”5. How to raise kids in the age of AI—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and moreVanta—Automate compliance, manage risk, and accelerate trust with AI—Episode transcript: https://www.lennysnewsletter.com/p/the-common-pattern-behind-successful—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Mark Pincus:• X: https://x.com/markpinc• LinkedIn: https://www.linkedin.com/in/markpincus• Website: https://www.lifeatthespeedofplay.com—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Mark Pincus(02:46) The Proven Better New framework overview(07:29) Earning the right to innovate(08:30) What “better” really means(12:03) Quick summary of the framework(12:40) Examples of the framework in action(13:30) How to use proven correctly on your platform(15:13) The moral arbitrage of copying(23:55) Be less ambitious(28:25) The Bolt.new story and staying humble(33:15) Kill hope before hope kills you(37:00) Using AI as a failure machine(40:08) Why Zynga's games succeeded (it wasn't virality)(48:36) The future of consumer social apps(57:05) How to know if your product is a B+(1:01:25) Distribution in the age of AI(1:15:39) Make everyone a CEO(1:18:18) Stay close to the metal(1:21:35) Why Mark says micromanagement is beautiful(1:23:35) The expert witness(1:25:05) The number one job of a CEO is to be right(1:26:35) What Mark is teaching his five kids(1:35:14) Mark's “why”(1:37:08) Mark's new book: Life at The Speed of Play—Referenced:• Tribe.net: https://en.wikipedia.org/wiki/Tribe.net• Zynga: https://www.zynga.com• Sid Meier: https://en.wikipedia.org/wiki/Sid_Meier• Electronic Arts: https://www.ea.com• CityVille: https://en.wikipedia.org/wiki/CityVille• Words With Friends: https://wordswithfriends.com/• Scrabble: https://playscrabble.com• Reddit: https://www.reddit.com• TED Radio Hour, MIT Media Lab founder, 1984 TED talk.: https://www.ted.com/talks/nicholas_negroponte_5_predictions_from_1984• Peter Thiel on LinkedIn: https://www.linkedin.com/in/peterthiel• FarmVille: https://en.wikipedia.org/wiki/FarmVille• Craig Newmark: https://en.wikipedia.org/wiki/Craig_Newmark• How to consistently go viral: Nikita Bier's playbook for winning at consumer apps (co-founder of TBH, Gas, advisor, investor): https://www.lennysnewsletter.com/p/how-to-consistently-go-viral-nikita-bier• Angry Birds: https://www.angrybirds.com/• OMGPop: https://en.wikipedia.org/wiki/OMGPop• Draw Something: https://en.wikipedia.org/wiki/Draw_Something• Slack founder: Mental models for building products people love ft. Stewart Butterfield: https://www.lennysnewsletter.com/p/slack-founder-stewart-butterfield• Brian Chesky's new playbook: https://www.lennysnewsletter.com/p/brian-cheskys-contrarian-approach• Garry Tan on LinkedIn: https://www.linkedin.com/in/garrytan• Brian Armstrong on LinkedIn: https://www.linkedin.com/in/barmstrong• Jason Citron on X: https://x.com/jasoncitron• Stanislav Vishnevskiy on LinkedIn: https://www.linkedin.com/in/svishnevskiy• Jeff Bezos on X: https://x.com/JeffBezos• Andy Jassy on X: https://x.com/ajassy• Niantic: https://nianticlabs.com• Pokémon Go: https://pokemongo.com• Bing Gordon on LinkedIn: https://www.linkedin.com/in/binggordon—Recommended book:• Life at the Speed of Play: Launch Products People Love!: https://www.amazon.com/Life-Speed-Play-Launch-Products/dp/0063352575/ref=tmm_hrd_swatch_0—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
Invest Like the Best: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- My guest today is Alex Sacerdote, founder of Whale Rock Capital Management. Whale Rock is a technology focused investment firm that manages more than $17 billion across hedge fund, long only, and hybrid strategies. Over the past three years it has been one of the best performing hedge funds, compounding at roughly 44 percent a year. Alex invests through a single lens that he has refined over twenty years. He looks for technology S-curves, durable competitive advantages, and underappreciated earnings power. This conversation is a tour through how he applies that framework right now. We start with his highest conviction position, which is Anthropic, and use it to work through the entire AI stack from chips to models to applications. Please enjoy my conversation with Alex Sacerdote. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:00:00) Welcome to Invest Like The Best (00:02:29) Alex Sacerdote (00:03:08) Anthropic: Highest Conviction Position (00:13:23) Investing in Private Markets at Scale (00:19:08) S-Curves: The Full Framework (00:25:08) When to Buy Tech Companies (00:30:20) Identifying the Leader from the Pack (00:34:04) Anthropic & OpenAI's Competitive Moats (00:37:31) AI's Threat to Enterprise Software (00:43:18) Network Effects in the Agent Era (00:44:22) The Hardware Renaissance: Chips & Infrastructure (00:53:56) Why So Few Investors Get This Right (00:55:36) Key Risks to the AI Bull Case (00:57:47) The Application Layer (00:59:40) How AI Is Changing Research at WhaleRock (01:02:53) The Role of Investor Networks & Idea Sharing (01:03:40) Building a Multi-Product Firm (01:07:58) WhaleRock as a Learning Machine (01:09:15) The Kindest Thing
My guest today is Alex Sacerdote, founder of Whale Rock Capital Management. Whale Rock is a technology focused investment firm that manages more than $17 billion across hedge fund, long only, and hybrid strategies. Over the past three years it has been one of the best performing hedge funds, compounding at roughly 44 percent a year. Alex invests through a single lens that he has refined over twenty years. He looks for technology S-curves, durable competitive advantages, and underappreciated earnings power. This conversation is a tour through how he applies that framework right now. We start with his highest conviction position, which is Anthropic, and use it to work through the entire AI stack from chips to models to applications. Please enjoy my conversation with Alex Sacerdote. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:00:00) Welcome to Invest Like The Best (00:02:29) Alex Sacerdote (00:03:08) Anthropic: Highest Conviction Position (00:13:23) Investing in Private Markets at Scale (00:19:08) S-Curves: The Full Framework (00:25:08) When to Buy Tech Companies (00:30:20) Identifying the Leader from the Pack (00:34:04) Anthropic & OpenAI's Competitive Moats (00:37:31) AI's Threat to Enterprise Software (00:43:18) Network Effects in the Agent Era (00:44:22) The Hardware Renaissance: Chips & Infrastructure (00:53:56) Why So Few Investors Get This Right (00:55:36) Key Risks to the AI Bull Case (00:57:47) The Application Layer (00:59:40) How AI Is Changing Research at WhaleRock (01:02:53) The Role of Investor Networks & Idea Sharing (01:03:40) Building a Multi-Product Firm (01:07:58) WhaleRock as a Learning Machine (01:09:15) The Kindest Thing
In this episode of the Brilliance Security Magazine Podcast, host Steven Bowcut speaks with Abhay Kulkarni, Co-founder and CEO of WideField Security, about the rapidly changing identity security landscape.Abhay explains why identity has become the linchpin of modern cybersecurity, especially as enterprises rely more heavily on SaaS, cloud platforms, API connections, non-human identities, and AI agents. The conversation explores why traditional IAM, SSO, MFA, and access reviews are no longer enough, and why security teams must understand what identities are actually doing after authentication.Steven and Abhay also discuss post-authentication visibility, session tracking, behavioral context, identity lifecycle security, and the challenge of securing increasingly autonomous AI agents without slowing down innovation.
Na spletni strani italijanskega senata je odslej dostopna tudi slovenska različica italijanske ustave. Pobudo za to so dali v Svetu slovenskih organizacij (SSO), eni od krovnih organizacij naše narodne skupnosti v Italiji. Kot še navajajo, gre za pomemben korak pri uresničevanju jezikovne enakopravnosti in priznavanju vloge slovenske narodne skupnosti v državi. Mineva namreč 80 let od ustanovitve Republike Italije. Prevod je pripravil centralni urad za slovenski jezik pri deželi Furlanija - Julijska krajina. SSO še navaja, da objava slovenske različice italijanske ustave na spletni strani senata predstavlja pomembno simbolno in praktično dejanje, to potrjuje spoštovanje jezikovne raznolikosti, krepi vidnost slovenske narodne skupnosti v Italiji ter omogoča širšo dostopnost ustavnih načel in vrednot v slovenskem jeziku. V SSO še ocenjujejo, da gre za znak pozornosti do slovenske narodne skupnosti in prispevek h krepitvi demokratičnih vrednot, dialoga in medsebojnega spoštovanja
Tony Fadell created the iPod, co-created the iPhone, and founded Nest (which he sold to Google for $3.2 billion). He's co-authored over 300 patents, was part of the legendary team at General Magic, and wrote one of the most important and inspiring books for builders, called Build.In our in-depth conversation, we discuss:1. The heated internal debates about whether the iPhone should have a physical keyboard2. Why opinion-based decisions are essential for v1 products3. Why marketing matters as much as the product itself, and how the iPod almost failed4. Why voice will eventually become the primary interface with AI5. Why cognitive surrender to AI is the biggest risk facing product builders today—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyVanta—Automate compliance, manage risk, and accelerate trust with AI: https://vanta.com/lenny—Episode transcript: https://www.lennysnewsletter.com/p/father-of-the-ipod-and-iphone-on—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Tony Fadell:• X: https://x.com/tfadell• LinkedIn: https://www.linkedin.com/in/tonyfadell• Website: https://www.buildc.com—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Tony Fadell(02:23) The Blackberry vs. iPhone keyboard debate(07:50) Micromanaging vs. kind lies: what great products actually need(15:57) The Nest thermostat and smoke alarm story(21:22) How to decide what's worth building: pain plus new technology(27:36) The three-generation rule: why nothing works the first time(34:20) The full customer journey: why marketing defines your product(40:53) The power of storytelling and the press-release-first approach(48:37) The evolution of product management and the builder role(50:27) Why AI-generated code creates brittle, unmaintainable products(58:00) Storytelling techniques(1:05:45) The next iPhone(1:13:15) Hardware is back(1:17:01) What Tony is most excited about(1:21:38) Working with Tony(1:25:36) Ethics, morals, and the responsibility of product builders(1:32:40) How to connect with Tony and Build Collective—References: https://www.lennysnewsletter.com/p/father-of-the-ipod-and-iphone-on—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
My guest today is Dara Khosrowshahi, the CEO of Uber. Before Uber, Dara ran Expedia for thirteen years. We start with why he took this job in 2017, and a big part of that story is Daniel Ek, who told him that life is not about happiness, it is about impact. We talk about what the chaos felt like on day one, and how his family leaving Iran when he was nine shaped the way he handles pressure today. We spend most of our time on autonomous vehicles and Uber's role as the demand aggregator in a world of physical AI. Dara explains why Uber is a supply-led company, what it will take to win, and why he expects many winners in AVs rather than one. We also discuss Uber's $10 billion in free cash flow, the push toward a single app for everything, and what he has learned from Allen & Co, Barry Diller and Reed Hastings. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Intro to Dara Khosrowshahi (00:03:37) How Daniel Ek Convinced Dara to Take the Uber Job (00:06:54) Bringing Order to Chaos (00:09:20) Managing Stress as a Leader (00:11:22) The Chip on His Shoulder (00:12:53) Parenting Lessons (00:17:01) Mandate for AI Adoption (00:21:21) Uber's Role in Physical AI (00:22:48) Winning the AV Demand Race (00:27:41) Partnering vs. Competing with Waymo (00:32:05) AV Success Unlocks New Markets (00:35:09) Why Drones Haven't Arrived Yet (00:36:27) Regional AV Rollout Differences (00:37:35) Uber Eats International Winning Formula (00:39:44) Key to Aggregating Supply Well (00:44:34) Adding Hotels to Uber Platform (00:50:46) Lessons in Marketing at Scale (00:52:59) Apps vs. AI Agents in Seven Years (00:54:08) What Dara Learned from Barry Diller (00:56:52) What Dara Learned from Allen & Co (01:00:09) Buybacks vs. Growth Investing (01:04:17) Lessons from Reed Hastings (01:05:49) The Kindest Thing
Heraclitus Unbound, AI LLMs, SSO, TTP, NetLogon, PAN-OS, AI Cost, Aaran Leyland, and More on the Security Weekly News. Visit https://www.securityweekly.com/swn for all the latest episodes! Show Notes: https://securityweekly.com/swn-586
Heraclitus Unbound, AI LLMs, SSO, TTP, NetLogon, PAN-OS, AI Cost, Aaran Leyland, and More on the Security Weekly News. Show Notes: https://securityweekly.com/swn-586
Heraclitus Unbound, AI LLMs, SSO, TTP, NetLogon, PAN-OS, AI Cost, Aaran Leyland, and More on the Security Weekly News. Visit https://www.securityweekly.com/swn for all the latest episodes! Show Notes: https://securityweekly.com/swn-586
Heraclitus Unbound, AI LLMs, SSO, TTP, NetLogon, PAN-OS, AI Cost, Aaran Leyland, and More on the Security Weekly News. Show Notes: https://securityweekly.com/swn-586
Benedict Evans is an independent analyst and former partner at Andreessen Horowitz, where he spent years as their in-house “thinker” tracking the most important technology trends. For the past six years, he's been publishing deeply researched presentations on where tech is heading, most recently focused on AI's transformation of the economy. His work is read by founders, investors, and operators trying to make sense of a noisy field. His most controversial opinion: AI is as big a deal as the internet or mobile—and only as big.In our in-depth conversation, we discuss:1. Why we're in “1997” for AI—early, exciting, and deeply uncertain about what comes next2. Where value will actually accrue in the AI stack3. The anti-AI backlash, and where it may lead4. The surprising boom in consulting and professional services at AI companies5. Why distribution is becoming the ultimate moat as software gets easier to build6. Why the right question about your job isn't “What percent can AI do?” but “Is this a task or a job?”7. Why things will probably be okay—and what you need to do to prepare—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyVanta—Automate compliance, manage risk, and accelerate trust with AI: https://vanta.com/lenny—Episode transcript: https://www.lennysnewsletter.com/p/a-rational-conversation-on-where—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Benedict Evans:• LinkedIn: https://www.linkedin.com/in/benedictevans• Newsletter: https://www.ben-evans.com/newsletter• Website: https://www.ben-evans.com—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Benedict Evans(02:19) What people aren't pricing in about AI's impact(06:24) Why we're in the 1997 moment of AI(09:44) The unexpected boom in professional services and consultants(17:44) Why distribution is becoming the ultimate moat(23:17) The coming job transformation: what's real vs. panic(27:33) Why AGI definitions keep shifting(38:11) Where value will accrue: models vs. applications(42:55) Distribution wars: Google, Meta, Apple, and OpenAI(48:12) The anti-AI sentiment and backlash(53:11) How to raise kids in an AI future(58:27) What jobs to steer toward or away from(59:20) The question nobody's asking about AI(1:06:25) How to be successful in this coming future(1:08:43) AI corner(1:11:43) Lightning round—Referenced: https://www.lennysnewsletter.com/p/a-rational-conversation-on-where—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
My guest today is Dan Loeb, the founder and CEO of Third Point. Dan started Third Point in 1995 with a few million dollars, and today the firm manages over 24 billion across equities, corporate and structured credit, venture, and insurance. He is best known for his activist work at companies like Sotheby's, Sony, and Yahoo, and for the public letters he has written to boards over the years. What I find most interesting about Dan is how much his approach has evolved across thirty years. He came up as a credit and event-driven investor at Warburg Pincus and Jefferies, built Third Point, then layered in quality investing, thematic technology investing, and now a very large credit business that sits alongside the hedge fund. We cover how he thinks about the AI stack and the companies inside it he believes matter most, the difference between good and bad governance, what FTX taught him about due diligence, the Sony and Sotheby's stories, and the power of writing. Please enjoy my conversation with Dan Loeb. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Dan Loeb (00:03:21) Mental Models Information Overload (00:06:50) Dan's Identity as an Investor (00:11:24) The End of Classic Event-Driven Investing (00:13:52) Evolving Strategy Over 30 Years (00:17:48) Return Opportunities in Today's Market (00:21:12) Sources of Alpha for Fundamental Investors (00:22:10) Good vs. Bad Governance (00:26:17) Writing as an Investing Tool (00:27:29) The Sotheby's Story (00:30:04) Activism Opportunities Today (00:31:03) Third Point's Evolution to 60% Credit (00:36:10) Dan as Sole Portfolio Manager (00:38:09) Value Investor Perspective on Today's Market (00:39:23) Investing Outside the US (00:40:33) The Sony Activism Story (00:43:59) Lessons from 30 Years of Investing (00:46:26) Danaher and Operational Excellence (00:48:48) Building the Insurance Liability Business (00:51:19) The FTX Story (00:53:07) Leading a Team Through Uncertainty (00:54:29) Where Third Point Is Most Contrarian (00:56:22) What Makes a Great Analyst Today (00:58:12) The Next 10 Years (01:00:24) The Kindest Thing
My guest today is Darren Farber, and this is his second appearance on the show. Darren is a Managing Partner of Albion River, a defense-focused investment firm and he previously served as a special advisor to the Deputy Under Secretary of Defense. We recorded this conversation in the middle of the Iranian contingency, and we spent most of our time on what winning actually means in a theater like Iran. We discuss why magazine depth matters for the American industrial base, lessons from Ukraine, and what the rise of neo-prime defense companies will require from Congress. Please enjoy my second conversation with Darren Farber. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Darren Farber Intro (00:02:59) Defining What Winning Looks Like in Iran (00:12:16) The Strait of Hormuz (00:13:27) Eisenhower vs. Taylor: Two Military Doctrines Explained (00:17:12) US Military Readiness vs. the Pentagon Era (00:20:05) America's Magazine Depth (00:21:36) China's Vulnerability (00:25:28) Trading Freedom for Security (00:27:31) Today's Industrial Base (00:29:30) Lessons from the Ukraine War (00:31:11) Impact of Iran Conflict on Taiwan Risk (00:33:02) What Neo-Prime Defense Companies Need to Succeed (00:39:53) Can We Win Without Full Regime Change in Iran? (00:45:46) AI's Impact on Modern Warfare
Dan Shipper is the co-founder and CEO of Every, a media and software company that's become a living laboratory for the future of work. Everyone at his company of about 30 people is an AI early adopter; from editors to ops people, they use AI to do much of their work, giving Every a unique lens into where the world is heading. A year ago on this show, Dan predicted that people were sleeping on Claude Code for nontechnical work, which proved to be remarkably prescient. Today he's back with another set of calls: the SaaS apocalypse is dumb, CLIs are over, the forward deployed engineer is the most valuable new hire, and the only thing you need to do to stay employed is ride the models.Dan's predictions:1. The future of work will happen inside Codex or Claude Code.2. Every company will have one “super-agent” inside their Slack that every employee talks to regularly.3. SaaS is not dead—in fact, Dan is bullish on SaaS stocks. His contrarian take: “I would buy SaaS stocks right now.”4. SaaS economics will shift: users will bring their own AI tokens into apps, which actually improves SaaS margins.5. PMs will thrive in the AI era.6. Full-stack designers will become superheroes.7. The AI job apocalypse is not happening.8. Forward deployed engineer is the new most essential role.9. CLIs are over.10. Automation is a lie.11. We will read way more AI-generated writing and we will like it.12. We'll be building software for humans and agents to use together.—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyVanta—Automate compliance, manage risk, and accelerate trust with AI: https://vanta.com/lenny—Episode transcript: https://www.lennysnewsletter.com/p/the-ai-paradox-dan-shipper—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Dan Shipper:• X: https://x.com/danshipper• LinkedIn: https://www.linkedin.com/in/danshipper/• Podcast: https://every.to/podcast• Website: https://danshipper.com—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Dan Shipper(02:56) Dan's unique position living in the AI future(09:17) How the way we work will change in the coming year(16:39) The case for general agents(18:08) Codex and Claude Code as the new operating system for work(25:39) How Cursor fits in(27:42) How this changes what SaaS companies should build(31:13) Why CLI is already over(33:34) Two agents are better than one(36:22) Why Dan is bullish on SaaS stocks(39:01) Why automation doesn't reduce human work(47:00) The value of human-written code(48:36) Quick recap(50:15) How work is changing(56:17) Why data scientists are drowning in bad analysis(58:24) Which product/tech roles are least changed by AI(1:02:17) We will read way more AI-generated writing and we will like it(1:08:28) Why product managers will dominate the AI era(1:11:05) Full-stack designers are the other big winners(1:13:11) The AI job apocalypse won't happen(1:16:00) How to “ride the models” to stay relevant(1:21:02) Final predictions and advice(1:25:24) Lightning round—References: https://www.lennysnewsletter.com/p/the-ai-paradox-dan-shipper—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
My guest today is Gavin Baker, founding partner and CIO of Atreides Management, and this is our sixth conversation. The central theme is watts and wafers, the two physical constraints that in Gavin's view will dictate the next phase of AI. On power, he thinks the near-term shortage starts to ease in 2027 and 2028 as new sources of energy come online, and that orbital compute solves it in the long term. On wafers, he explains what is different this time from the dotcom bubble and why TSMC's capacity decisions may be the single most important variable to watch. We also discuss Elon's Terrafab, the disaggregation of GPUs, the role of new chip companies, and whether the economic value of AI will keep accruing to frontier models. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Gavin Baker Intro (00:03:32) Anthropic's Record ARR Growth (00:11:49) Should OpenAI and Anthropic Raise at a Much Higher Valuation? (00:13:23) How Elon Preserves Investor Trust (00:14:00) Watts & Wafers (00:15:45) Data Centers in Space Explained (00:20:51) Orbital Compute's Impact on Terrestrial Data Centers (00:26:24) TSMC Supply Discipline & Bubble Risk (00:30:50) Demand for Frontier Tokens & The Bitter Lesson (00:35:33) Continual Learning & Memory (00:40:01) New Chip Companies & Startups (00:42:49) Prefill vs. Decode Disaggregation (00:48:40) AI-Native Founders: Different & Hard (00:51:27) Token Path & Application Layer (00:56:13) How Gavin Uses AI in Atreides (01:00:06) Signs of a Diversity Breakdown (01:05:42) Google, Meta, Amazon, Microsoft (01:11:42) Broader Knock-On Effects of AI
Caitlin Kalinowski was most recently at OpenAI helping build their robotics and hardware teams from scratch. Prior to that, she was head of AR glasses and VR hardware at Meta, where she led the teams building every generation of the Quest, Rift, and Orion, and was Meta's first consumer electronics hire. Before this, she was technical lead on MacBook Air and Mac Pro at Apple, and helped engineer the original unibody MacBook Pro. She's designed and engineered some of the hardest and most beloved consumer hardware products in history and is now focused on the next frontier: robotics.In our in-depth conversation, we discuss:1. VR—what happened?2. The coming memory price shock and why she's telling startups to pre-buy now3. How the technologies built for VR became the foundation of modern warfare4. Why humanoid robots are still just prototypes, and what's actually gating mass deployment5. Lessons from Steve Jobs, Mark Zuckerberg, and Sam Altman6. Why she left OpenAI—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyVanta—Automate compliance, manage risk, and accelerate trust with AI: https://vanta.com/lenny—Episode transcript: https://www.lennysnewsletter.com/p/why-were-at-the-beginning-of-the—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Caitlin Kalinowski:• X: https://x.com/kalinowski007• LinkedIn: https://www.linkedin.com/in/ckalinowski• Website: https://www.caitlinkalinowski.com—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/In this episode, we cover:(00:00) Introduction to Caitlin Kalinowski(02:32) Why VR didn't take off despite incredible hardware(04:55) The future of AR glasses and physical AI(08:45) Why robotics and hardware are suddenly hot(13:33) Why humanoid robots aren't ready yet(16:13) Supply chain bottlenecks threatening robotics(17:31) Why magnets and actuators are critical dependencies(20:51) The geopolitical implications of hardware supply chains(24:48) AI safety concerns with physical robots(26:50) Apple's approach to hardware excellence(30:10) Building a hardware program from scratch at Meta(31:39) The Quest 2 cost reduction story(33:07) Critical principles for hardware development(39:58) The MacBook Air manila envelope moment(41:01) The butterfly keyboard situation(41:43) Lessons from Apple on customer feedback(44:46) The memory price crisis coming for hardware(49:31) How many components go into a robot(52:53) When to use off-the-shelf vs. custom components(55:02) How AI is changing hardware engineering(1:00:27) Why humanoids aren't the answer for most use cases(1:03:05) When robots will build other robots(1:06:23) What makes a robot feel human and connected(1:09:15) Robots in the home(1:12:00) What the next five years look like(1:15:38) Why she left OpenAI(1:18:09) How to hire exceptional hardware teams(1:23:42) Lessons from Steve Jobs, Mark Zuckerberg, and Sam Altman(1:27:27) Failure corner(1:32:33) Lightning round—References: https://www.lennysnewsletter.com/p/why-were-at-the-beginning-of-the—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
My guest today is Krishna Rao, the CFO of Anthropic. The center of our conversation is how he navigates the decision around procuring and allocating compute, which he describes as the canvas on which everything else gets built. We talk about what he calls the cone of uncertainty, the three chip platforms Anthropic uses fungibly across Trainium, TPUs, and GPUs, and the daily meetings they run to allocate compute between model development, internal use, and serving customer demand. He explains why the returns to frontier intelligence keep getting higher, especially in enterprise, and how Anthropic thinks about the line between platform and application and why they choose to build their own products like Claude Code. Krishna has such a unique seat watching one of the fastest growing businesses in history, and he is generous in sharing what he has learned since joining the company two years ago. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Episode Intro: Krishna Rao (00:03:14) Compute as Anthropic's Lifeblood (00:05:17) Three Fungible Chip Platforms (00:07:31) The Cone of Uncertainty (00:09:08) Competing Ways to Allocate Compute (00:10:36) What Drives Compute Efficiency (00:12:38) Why Frontier Returns Are So High (00:16:32) How Claude Code Writes Its Own Code (00:18:46) Will Talent Become Obsolete? (00:20:07) How Scaling Laws Are Holding (00:21:54) Exponential Thinking (00:23:17) The Layer Cake of Compute (00:26:36) How Anthropic Deploys New Compute (00:27:53) Platform v. Application Layer (00:32:42) Why Model Pricing Has Stayed Stable (00:35:26) Measuring Return on Compute (00:37:22) Working With Chip Providers (00:38:32) How Anthropic's Finance Team Uses Claude (00:41:32) The Jevons Paradox for Labor (00:43:08) Anthropic's Fundraising & Growth Journey (00:47:31) The Exponential Revenue Curve (00:49:02) The Hardest Thing to Explain to Investors (00:52:15) AI's Public Perception Problem (00:55:38) Mythos (00:57:31) Relationship With Government (00:58:51) Inside Anthropic's Culture (01:03:48) The Next Frontier: Virtual Collaborators (01:06:22) How Leaders Scale With a Business (01:10:55) The Biggest Risks to Continued Progress (01:12:09) What Krishna is Excited About (01:13:45) The Kindest Thing
Eric Ries is the author of The Lean Startup, a book that reshaped how a generation of founders think about building companies. His new book, Incorruptible, explains how successful companies are destroyed by failing to protect what makes them valuable, and how to change it.In our in-depth conversation, we discuss:1. Why 80% of venture-backed founders are ousted within three years of going public2. The governance structures that protect companies like Anthropic, Costco, and Novo Nordisk3. The simple legal filing that takes two pages and could save your company4. Financial gravity: why successful companies predictably get corrupted into mediocrity5. Why mission-aligned companies like Anthropic reap major benefits from protecting their mission through governance6. Why success won't protect you—it instead makes you a bigger target—Brought to you by:WorkOS—Make your app enterprise-ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyVanta—Automate compliance, manage risk, and accelerate trust with AI: https://vanta.com/lenny—Episode transcript: https://www.lennysnewsletter.com/p/how-to-build-a-company-that-withstands—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Eric Ries:• X: https://x.com/ericries• LinkedIn: https://www.linkedin.com/in/eries• Website: https://www.incorruptible.co• Newsletter: https://news.theleanstartup.com/• Podcast: https://ericriesshow.com• YouTube: https://www.youtube.com/@theericriesshow—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Eric Ries(02:26) Introducing Incorruptible(06:26) Protecting what you've built(11:35) Why founders get ousted(14:58) Too early, too late(19:32) The blueprint: ethos plus integrity(20:49) Novo Nordisk's 100-year governance fortress(26:41) The Vectura Group and Philip Morris(33:16) The “harder is easier” principle(37:22) Cloudflare's mission emergence story(42:43) Groupon's email frequency death spiral(45:37) How to define your purpose(51:09) Mission-driven vs. mission-hopeful companies(54:46) Integrity: structural and personal(57:47) Shareholder primacy: the 40-year-old “natural law”(01:00:04) Public benefit corporations: the easiest protection(01:04:24) Downsides and objections(01:06:08) The Anthropic example: fastest-growing company ever(01:08:39) The torchbearers in every organization(01:10:37) The culture bank: deposits and withdrawals(01:12:28) OpenAI and Anthropic governance(01:16:21) Mission guardians explained(01:18:29) Spiritual holding companies(01:21:53) The founder control trap(01:25:25) Three things to do this week(01:30:10) AI alignment and human alignment(01:34:00) Conway's law: org charts in architecture(01:37:31) Book resources and farewell—References: https://www.lennysnewsletter.com/p/how-to-build-a-company-that-withstands—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
In this sponsored interview Patrick Gray chats with Knocknoc CEO Adam Pointon about their Greynoise integration. Knocknoc allowlists network connections from users' IPs after they've been through an SSO challenge. It's great for protecting vulnerable or risky assets that your org has to connect to the internet. But what happens when one of your users tries to authenticate from a bad IP? You probably don't want to add that one to your allowlist! Thanks to Knocknoc's new Greynoise integration, you don't have to! Show notes
My guest today is Brian Chesky, the co-founder and CEO of Airbnb. Our conversation traces the path from his early training as an industrial designer at RISD through the pandemic moment that forced him into founder mode. He explains why he thinks AI founder mode will demand even more attention to the details and why founders are rarely good early CEOs. He walks through his eleven-star exercise, which is a way of imagining the most absurd version of a customer experience to achieve product market fit. We also talk about what changed for him when he stopped chasing adulation and started making things for the love of making them. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Episode Intro: Brian Chesky (00:03:07) Studying Industrial Design at RISD (00:08:30) Why Founders Don't Make Good CEOs (00:09:02) Founder Mode (00:12:51) AI Founder Mode (00:14:41) The End of Pure People Managers (00:18:42) Consumer AI (00:21:45) Project Hawaii (00:25:49) Make the Problem as Small as Possible (00:29:46) Becoming a Good CEO (00:32:11) What Brian Learned From Hiroki Asai (00:36:32) The Eleven-Star Experience (00:38:48) AI and Creativity (00:41:44) Making Things for the Love of It (00:43:36) The Adulation Trap (00:46:38) The Ham Sandwich Paradox (00:52:38) Why Founder-Led Businesses Endure (00:55:14) The Person as the Atomic Unit of Airbnb (00:59:40) Disrupting Yourself With AI (01:02:11) Lessons from Bodybuilding (01:07:55) Hiring as the Most Important Job (01:09:16) Are Founders Born or Made? (01:11:04) The Motivation of an Artist (01:11:47) The Kindest Thing
Max Schoening is head of product at Notion, where he's been especially effective at getting designers and PMs to ship code, prototype in the terminal, and launch extremely successful AI products. He was previously a PM at Google, ran design at Heroku, was VP of Design (and a part-time engineer) at GitHub, and is a two-time founder. He's one of the most AI-forward product leaders out there and one of the deepest thinkers on how AI changes how we build and use software.We discuss:1. What's most worked in getting designers and PMs to embrace AI2. Why agency—not skills—is the thing that separates people who thrive from those who fall behind3. How the first 10% of every project is now “free,” and what that means for product development4. Max's “tiny core” theory of great products: iPhone multitouch, the GitHub pull request, Notion blocks, Dropbox's menu bar icon5. Why the SaaSpocalypse is overstated6. Why the amount of software has exploded but the quality hasn't, and why that gap creates opportunity—Brought to you by:WorkOS—Make your app Enterprise Ready, with SSO, SCIM, RBAC, and more: https://workos.com/lennyVanta—Automate compliance, manage risk, and accelerate trust with AI: https://vanta.com/lenny—Episode transcript: https://www.lennysnewsletter.com/p/why-cultivating-agency-matters-more—Archive of all Lenny's Podcast transcripts: https://www.dropbox.com/scl/fo/yxi4s2w998p1gvtpu4193/AMdNPR8AOw0lMklwtnC0TrQ?rlkey=j06x0nipoti519e0xgm23zsn9&st=ahz0fj11&dl=0—Where to find Max Schoening:• X: https://x.com/mschoening• LinkedIn: https://www.linkedin.com/in/max-schoening• Website: https://max.dev—Where to find Lenny:• Newsletter: https://www.lennysnewsletter.com• X: https://twitter.com/lennysan• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/—In this episode, we cover:(00:00) Introduction to Max Schoening(01:55) The origin story of designers coding at Notion(06:30) How much designers and PMs are shipping today(08:24) The balance between shipping code and strategic work(10:32) Why agency will help you thrive in the AI era(11:49) Examples of high agency at Notion(13:52) What we might lose as roles merge(15:56) Advice for developing agency(17:42) Malleable software explained(20:43) The Dieter Rams video and design philosophy(24:00) The SaaS apocalypse debate(28:25) How product building has changed in the past two years(30:27) What's next in how we build products(34:16) Token spend and ROI conversations(37:39) Getting people to change how they work(39:04) Max's AI stack(41:41) Which roles AI will transform next(44:26) When companies will start caring about ROI(48:38) Why Notion AI is so successful(51:47) How to ship more quickly while maintaining quality(56:40) Building taste through iterations(1:00:09) What matters most in building successful products(1:05:06) Using the jobs-to-be-done framework(1:07:28) Hot take on universal basic income(1:09:26) What Max would do with AGI(1:10:53) Contrarian corner(1:13:14) Failure corner(1:16:20) Advice for young people in Silicon Valley(1:19:20) Lightning round and final thoughts—Referenced: https://www.lennysnewsletter.com/p/why-cultivating-agency-matters-more—Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.—Lenny may be an investor in the companies discussed. To hear more, visit www.lennysnewsletter.com
Invest Like the Best: Read the notes at at podcastnotes.org. Don't forget to subscribe for free to our newsletter, the top 10 ideas of the week, every Monday --------- My guest today is Paul Tudor Jones. Paul is the founder of Tudor Investment Corporation and one of the greatest macro traders of all time, known for calling and profiting from the 1987 crash and compounding capital at extraordinary rates over more than four decades. Paul is also one of the most entertaining and interesting people I have ever met. He is full of stories and hard-earned lessons from a lifetime in markets that feels like several lifetimes compressed into one. In this conversation, he shares how he thinks about trading as a constant battle of risk management and patience, why he still wakes up in the middle of the night to watch global markets, and how he identifies the rare moments where he can take a truly big swing. We discuss whether we are in a bubble, why he sees AI as one of the greatest risks in history, and why he believes Bitcoin is the best inflation hedge. We also spend time on the difference between trading and investing, the importance of passion and discipline, and the ideas that have shaped his life both inside and outside of markets. Please enjoy this conversation with Paul Tudor Jones. This conversation was recorded in mid-February 20, 26 weeks before the geopolitical conflicts now shaping the global economy. Please enjoy this great conversation with Paul Tudor Jones. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Episode Intro: Paul Tudor Jones (00:04:44) Paul's Incredible Kindest Thing Story (00:06:50) Discovering a Passion for Philanthropy (00:13:12) Paul's Commencement Speech Address (00:15:24) Trading v. Investing (00:19:23) Lessons from Warren Buffet (00:23:48) The AI Industry Lacks Proper Risk Management (00:26:54) The One Regulation AI Needs (00:28:51) What Paul Learned from Eli Tullis (00:30:39) Why Trading is Like Boxing (00:32:16) The Bull Case for the Yen (00:34:30) Why Bitcoin is the Best Inflation Hedge (00:36:06) Lessons from Historical Bubbles (00:38:57) Are We in a Bubble? (00:42:10) Paul's Daily Routine (00:44:12) Managing Information Overload (00:45:35) What Exquisite Execution Means (00:46:37) Paul's Love of Games (00:48:13) The Secret to Longevity (00:50:51) Starting Robin Hood After the 1987 Crash (00:55:33) The Importance of Studying Journalism (00:57:12) Communicating Effectively in Today's World (00:59:13) The Four Components of a Great Life (01:01:10) Paul's Relationship with God and Nature (01:03:53) Kill ‘Em With Kindness
My guest today is Paul Tudor Jones. Paul is the founder of Tudor Investment Corporation and one of the greatest macro traders of all time, known for calling and profiting from the 1987 crash and compounding capital at extraordinary rates over more than four decades. Paul is also one of the most entertaining and interesting people I have ever met. He is full of stories and hard-earned lessons from a lifetime in markets that feels like several lifetimes compressed into one. In this conversation, he shares how he thinks about trading as a constant battle of risk management and patience, why he still wakes up in the middle of the night to watch global markets, and how he identifies the rare moments where he can take a truly big swing. We discuss whether we are in a bubble, why he sees AI as one of the greatest risks in history, and why he believes Bitcoin is the best inflation hedge. We also spend time on the difference between trading and investing, the importance of passion and discipline, and the ideas that have shaped his life both inside and outside of markets. Please enjoy this conversation with Paul Tudor Jones. This conversation was recorded in mid-February 20, 26 weeks before the geopolitical conflicts now shaping the global economy. Please enjoy this great conversation with Paul Tudor Jones. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Invest Like the Best listeners get a special offer of $1,000 off Vanta when you go to vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Episode Intro: Paul Tudor Jones (00:04:44) Paul's Incredible Kindest Thing Story (00:06:50) Discovering a Passion for Philanthropy (00:13:12) Paul's Commencement Speech Address (00:15:24) Trading v. Investing (00:19:23) Lessons from Warren Buffet (00:23:48) The AI Industry Lacks Proper Risk Management (00:26:54) The One Regulation AI Needs (00:28:51) What Paul Learned from Eli Tullis (00:30:39) Why Trading is Like Boxing (00:32:16) The Bull Case for the Yen (00:34:30) Why Bitcoin is the Best Inflation Hedge (00:36:06) Lessons from Historical Bubbles (00:38:57) Are We in a Bubble? (00:42:10) Paul's Daily Routine (00:44:12) Managing Information Overload (00:45:35) What Exquisite Execution Means (00:46:37) Paul's Love of Games (00:48:13) The Secret to Longevity (00:50:51) Starting Robin Hood After the 1987 Crash (00:55:33) The Importance of Studying Journalism (00:57:12) Communicating Effectively in Today's World (00:59:13) The Four Components of a Great Life (01:01:10) Paul's Relationship with God and Nature (01:03:53) Kill ‘Em With Kindness
This mini-series on Behind the Knife delves into the technical aspects of the Operative Standards for Cancer Surgery, developed through the American College of Surgeons Cancer Research Program and Cancer Surgery Standards Program. This episode highlights sentinel lymph node biopsy for breast cancer.Hosts:- Lexy (Alexandra) Adams, MD, MPH (@lexyadams16) is a Surgical Oncology fellow at MD Anderson Cancer Center.- Lauren Postlewait, MD, FACS, is an Associate Professor of Surgery at Emory University School of Medicine and is the Medical Director of the Breast Center at Grady Memorial Hospital in Atlanta, GA.- Chantal Reyna, MD, FACS (@kprgrl3) is a Breast surgical oncologist at Loyola University Medical Center in Chicago, IL and serves as the oncology clinical lead for the breast service line.Guest:- Susan E. Pories, MD, FACS (@SusanPoriesMD) is a professor of surgery, vice chair for quality and safety, and director of the Rutger's Breast Center at the University hospital. Learning Objectives: - Understand the definition and identification of axillary sentinel lymph node. - Understand the technique for injecting tracer or dye to perform sentinel lymph node biopsy. - Understand the importance of preincision drainage evaluation and transcutaneous localization.- Understand techniques to minimize seroma formation.Links to Papers Referenced in this EpisodeOperative Standards for Cancer Surgery, Volume 1: Breast, Lung, Pancreas, Colonhttps://www.facs.org/quality-programs/cancer-programs/cancer-surgery-standards-program/operative-standards-for-cancer-surgery/purchase/Kindle edition:https://www.amazon.com/Operative-Standards-Cancer-Surgery-Section-ebook/dp/B07MWSNFSBSentinel-lymph-node resection compared with conventional axillary-lymph-node dissection in clinically node-negative patients with breast cancer: overall survival findings from the NSABP B-32 randomised phase 3 trial Lancet Oncol. 2010 Oct;11(10):927-33.https://pubmed.ncbi.nlm.nih.gov/20863759/Improved Axillary Evaluation Following Neoadjuvant Therapy for Patients With Node-Positive Breast Cancer Using Selective Evaluation of Clipped Nodes: Implementation of Targeted Axillary Dissection J Clin Oncol. 2016 Apr 1;34(10):1072-8.https://pubmed.ncbi.nlm.nih.gov/26811528/The false-negative rate of sentinel node biopsy in patients with breast cancer: a meta-analysis World J Surg. 2012 Sep;36(9):2239-51. https://pubmed.ncbi.nlm.nih.gov/22569745/Effect of lymphoscintigraphy drainage patterns on sentinel lymph node biopsy in patients with breast cancer Am J Surg. 2005 Oct;190(4):557-62.https://pubmed.ncbi.nlm.nih.gov/16164919/Sentinel Lymph Node Biopsy vs No Axillary Surgery in Patients With Small Breast Cancer and Negative Results on Ultrasonography of Axillary Lymph Nodes: The SOUND Randomized Clinical Trial JAMA Oncol. 2023 Nov 1;9(11):1557-1564.https://pubmed.ncbi.nlm.nih.gov/37733364/Choosing Wisely GuidelinesSociety of Surgical Oncology. Released 2016 July 12; last updated 2020 November 13. Choosing Wisely: Five Things Physicians and Patients Should Question.https://surgonc.org/wp-content/uploads/2020/11/SSO-5things-List_2020-Updates-11-2020.pdfPlease visit https://behindtheknife.org to access other high-yield surgical education podcasts, videos and more. If you liked this episode, check out our recent episodes here: https://behindtheknife.org/listenBehind the Knife Premium:General Surgery Oral Board Review Course: https://behindtheknife.org/premium/general-surgery-oral-board-reviewOral Board Simulator: https://app.behindtheknife.org/oral-board-simulatorTrauma Surgery Video Atlas: https://behindtheknife.org/premium/trauma-surgery-video-atlasDominate Surgery: A High-Yield Guide to Your Surgery Clerkship: https://behindtheknife.org/premium/dominate-surgery-a-high-yield-guide-to-your-surgery-clerkshipDominate Surgery for APPs: A High-Yield Guide to Your Surgery Rotation: https://behindtheknife.org/premium/dominate-surgery-for-apps-a-high-yield-guide-to-your-surgery-rotationVascular Surgery Oral Board Review Course: https://behindtheknife.org/premium/vascular-surgery-oral-board-audio-reviewColorectal Surgery Oral Board Review Course: https://behindtheknife.org/premium/colorectal-surgery-oral-board-audio-reviewSurgical Oncology Oral Board Review Course: https://behindtheknife.org/premium/surgical-oncology-oral-board-audio-reviewCardiothoracic Oral Board Review Course: https://behindtheknife.org/premium/cardiothoracic-surgery-oral-board-audio-reviewDownload our App:Apple App Store: https://apps.apple.com/us/app/behind-the-knife/id1672420049Android/Google Play: https://play.google.com/store/apps/details?id=com.btk.app&hl=en_US
This is my second conversation with Dylan Patel. Dylan is the founder and CEO of SemiAnalysis, where he tracks the semiconductor supply chain and AI infrastructure buildout. This conversation is about the supply and demand of tokens. On demand, Dylan describes something completely explosive. He explains why the frontier model is the only model anyone wants, and willingness to pay for it is nearly unbounded. His own firm has gone from tens of thousands of dollars in AI spend last year to seven million this year. On supply, we walk through the bottlenecks across memory, logic, and fab equipment that will determine how fast any of this can scale. We also cover Claude Mythos and what the leading labs need to do to fix their growing public perception problem. For the full show notes, transcript, and links to mentioned content, check out the episode page here. ----- Become a Colossus member to get our quarterly print magazine and private audio experience, including exclusive profiles and early access to select episodes. Subscribe at colossus.com/subscribe. ----- Ramp's mission is to help companies manage their spend in a way that reduces expenses and frees up time for teams to work on more valuable projects. Go to ramp.com/invest to sign up for free and get a $250 welcome bonus. ----- Trusted by thousands of businesses, Vanta continuously monitors your security posture and streamlines audits so you can win enterprise deals and build customer trust without the traditional overhead. Visit vanta.com/invest. ----- WorkOS is the infrastructure B2B and AI-native companies use to sell to enterprise. It covers everything enterprise security requires: SSO, SCIM, RBAC, Audit Logs, AI governance, and more. Trusted by 2,000+ fast-growing companies, including OpenAI, Anthropic, Cursor, and Vercel. ----- Rogo is the AI platform for finance. They're building agents for Wall Street that are trained to understand how bankers and investors actually do work: from diligence and modeling, to turning analysis into deliverables. To learn more, visit rogo.ai/invest. ----- Ridgeline has built a complete, real-time, modern operating system for investment managers. It handles trading, portfolio management, compliance, customer reporting, and much more through an all-in-one real-time cloud platform. Visit ridgelineapps.com. ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Timestamps: (00:00:00) Welcome to Invest Like The Best (00:02:29) Intro: Dylan Patel (00:03:09) Semi Analysis AI Spend: Zero to $7M (00:05:16) Real-World Examples of Claude Code (00:11:41) Token Demand: “Completely Explosive” (00:14:48) Why Everyone Wants the Frontier Model (00:15:36) Mythos: Biggest Model Capability Jump in Two Years (00:20:54) Fear of Rapid Model Progress (00:23:45) Robotics as the Next Demand Wave (00:26:03) Scaling Laws & Compute Efficiency (00:27:24) OpenAI vs. Anthropic (00:31:33) Supply Side: Bottlenecks Across the Stack (00:33:26) TSMC CapEx Could Cause a Shortage (00:36:45) CPUs, ASICs, and FPGAs (00:40:12) Tokenomics (00:42:20) Protests & AI Backlash
WebEx SSO Vulnerability, booking.com Reservation Hijacking Risks, Windows Recall Scrutiny, and AI Vishing-as-a-Service Host Jim Love reports that Cisco disclosed a critical WebEx vulnerability (CVE-2026-2184) affecting SSO integration with Control Hub; although server-side fixes are applied and no exploitation is seen, SSO customers must update SAML certificate configuration to avoid disruption when the old certificate expires, amid recent Cisco firewall zero-day exploitation (CVE-2026-2131) tied to interlock ransomware. A booking.com breach exposed some customers' reservation data (names, contact and address details, reservation details, and messages) but not payment cards, increasing phishing "reservation hijacking" risk using real itinerary details. Researchers also highlight new concerns with Microsoft's Windows 11 Recall, where data may be intercepted after login via another process, though Microsoft says protections are intended. Finally, an underground $4,000 platform, ATHR, automates phishing/vishing with AI voice agents to steal verification codes and accounts across major services. Cybersecurity Today would like to thank Meter for their support in bringing you this podcast. Meter delivers a complete networking stack, wired, wireless and cellular in one integrated solution that's built for performance and scale. You can find them at Meter.com/cst 00:00 Top Security Headlines 00:32 Sponsor Message 00:50 WebEx Critical Flaw 02:36 Booking.com Breach Scams 05:20 Windows Recall Weaknesses 08:36 AI Voice Phishing Service 11:24 Wrap Up and Thanks
The LACNETS Podcast - Top 10 FAQs with neuroendocrine tumor (NET) experts
In this episode, surgical oncologist Dr. Seth Concors of Emory's Winship Cancer Institute discusses the role of the surgical oncologist within the multidisciplinary care team for neuroendocrine cancer. We explore what surgical oncologists do, why NET-specific experience matters, how surgical decisions are made, and what patients can expect during a surgical consultation. The conversation highlights coordination across care teams, common patient concerns, and the importance of informed decision-making and second opinions, offering practical guidance for patients and caregivers navigating surgical care in neuroendocrine cancer.TOP TEN QUESTIONS Understanding the Surgeon's Role1. What is a surgical oncologist, and what kind of training does that involve? How is a surgical oncologist similar to—or different from—other types of surgeons? Patients may hear the term “HPB surgeon.” What does that mean, and how can a patient tell if their surgeon is an HPB surgeon? 2. When a patient is looking for a surgeon, how can they find someone who is the “right fit” for them? How can patients know whether a surgeon has experience with the specific operation they may need—such as a Whipple procedure, liver surgery, or lung surgery? How important is it for a surgeon to be familiar with neuroendocrine tumors specifically?3. What should patients expect at their first appointment with a surgical oncologist? What key information are you usually trying to communicate during that first visit? What questions do you encourage patients and caregivers to ask their surgeon?4. How often should patients expect to see their surgical oncologist, and at what points in their care?Surgical Decision-Making5. How do you determine whether someone is a surgical candidate? What is the typical goal of surgery for neuroendocrine tumors?6. If someone is not a surgical candidate initially, does that mean surgery is off the table forever? Are there treatments that can help make surgery possible in the future? How many NET surgeries can someone safely have over their lifetime? Can major surgeries—such as extensive liver resections—affect eligibility for future treatment options?Multidisciplinary and Coordinated Care7. How do surgical oncologists work within a multidisciplinary care team for NET patients? How do you collaborate with providers at different institutions, such as a local oncologist working with a NET specialty center?8. What is your perspective on second opinions, specifically for neuroendocrine cancer?9. Many patients worry about carcinoid crisis during surgery. How do you address and manage those concerns?Preparing for Surgery10. Patients often ask how they can best prepare—physically and emotionally—for surgery. What guidance do you typically offer?BONUS: What research is currently being done involving neuroendocrine surgery?ABOUT THE SPEAKERSeth Concors, MD, is an academic surgical oncologist at Emory University and the Winship Cancer Institute, where he serves as Associate Program Director for both the General Surgery Residency and the Complex General Surgical Oncology Fellowship, and Director of the Surgical Oncology Research Fellowship. He leads Emory's Peritoneal Surface Malignancy and Neuroendocrine Tumor surgical programs, with clinical and research interests focused on gastrointestinal neuroendocrine tumors, cytoreductive surgery/HIPEC, and survivorship outcomes. Dr. Concors is actively involved in national surgical societies, including SSO, SSAT, NANETS, ACS, and ECOG-ACRIN, and his work emphasizes multidisciplinary collaboration, prospective outcomes research, and surgical education. He is committed to advancing patient-centered cancer care while mentoring the next generatioFor more information, visit NCF.net.
Education is one of the top concerns for American families—and a new federal policy could dramatically reshape access to opportunity. On this episode of Main Street Matters, Elaine Parker sits down with Chip Rogers to break down the growing momentum behind the Education Freedom Tax Credit and why it’s sparking major debate across the country. They dive into Georgia’s recent expansion of school choice programs, including the doubling of scholarship funding, and explain how student scholarship organizations (SSOs), vouchers, and tax credits are giving families more control over their children’s education. See omnystudio.com/listener for privacy information.
In this repeat episode, Jack Herrington sits down with Tanner Linsley to talk about the evolution of TanStack and where it's headed next. They explore how early projects like React Query and React Table influenced the headless philosophy behind TanStack Router, why virtualized lists matter at scale, and what makes forms in React so challenging. Tanner breaks down TanStack Start and its client-first approach to SSR, routing, and data loading, and shares his perspective on React Server Components, modern authentication tradeoffs, and composable tooling. The episode wraps with a look at TanStack's roadmap and what it takes to sustainably maintain open source at scale. We want to hear from you! How did you find us? Did you see us on Twitter? In a newsletter? Or maybe we were recommended by a friend? Fill out our listener survey! https://t.co/oKVAEXipxu Let us know by sending an email to our producer, Elizabeth, at elizabeth.becz@logrocket.com, or tweet at us at PodRocketPod. Check out our newsletter! https://blog.logrocket.com/the-replay-newsletter/ Follow us. Get free stickers. Follow us on Apple Podcasts, fill out this form, and we'll send you free PodRocket stickers! What does LogRocket do? LogRocket provides AI-first session replay and analytics that surfaces the UX and technical issues impacting user experiences. Start understanding where your users are struggling by trying it for free at LogRocket.com. Try LogRocket for free today. Chapters 01:00 – What is TanStack? Contributors, projects, and mission 02:05 – React Query vs React Table: TanStack's origins 03:10 – TanStack principles: headless, cross-platform, type safety 03:45 – TanStack Virtual and large list performance 05:00 – Forms, abandoned libraries, and lessons learned 06:00 – Why TanStack avoids building auth 07:30 – Auth complexity, SSO, and enterprise realities 08:45 – Partnerships with WorkOS, Clerk, Netlify, and Cloudflare 09:30 – Introducing TanStack Start 10:20 – Client-first architecture and React Router DNA 11:00 – Pages Router nostalgia and migration paths 12:00 – Loaders, data-only routes, and seamless navigation 13:20 – Why data-only mode is a hidden superpower 14:00 – Built-in SWR-style caching and perceived speed 15:20 – Loader footguns and server function boundaries 16:40 – Isomorphic execution model explained 18:00 – Gradual adoption: router → file routing → Start 19:10 – Learning from Remix, Next.js, and past frameworks 20:30 – Full-stack React before modern meta-frameworks 22:00 – Server functions, HTTP methods, and caching 23:30 – Simpler mental models vs server components 25:00 – Donut holes, cognitive load, and developer experience 26:30 – Staying pragmatic and close to real users 28:00 – When not to use TanStack (Shopify, WordPress, etc.) 29:30 – Marketing sites, CMS pain, and team evolution 31:30 – Scaling realities and backend tradeoffs 33:00 – Static vs dynamic apps and framework fit 35:00 – Astro + TanStack Start hybrid architectures 36:20 – Composability with Hono, tRPC, and Nitro 37:20 – Why TanStack Start is a request handler, not a platform 38:50 – TanStack AI announcement and roadmap 40:00 – TanStack DB explained 41:30 – Start 1.0 status and real-world adoption 42:40 – Devtools, Pacer, and upcoming libraries 43:50 – Sustainability, sponsorships, and supporting maintainers 45:30 – How companies and individuals can support TanStackSpecial Guests: Jack Herrington and Tanner Linsley.
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
Is your security team treating your Identity Provider (IDP) like a firewall? In this episode, Adam Bateman (CEO & Co-founder of Push Security) explains why that's a dangerous mistake and how modern attackers are bypassing SSO entirely .Drawing from his background leading red teams that simulated nation-state attacks , Adam breaks down the massive architectural shift from network-based attacks to browser-native exploits. We dive into the terrifying evolution of phishing, from "Click Fix" attacks that trick users into running malicious commands via their clipboard, to "Consent Phishing" that completely takes over Azure without ever touching the endpoint .If your company relies heavily on SaaS applications or Chromebooks, this episode would be a valuable listen. Guest Socials - Adam's Linkedin Podcast Twitter - @CloudSecPod If you want to watch videos of this LIVE STREAMED episode and past episodes - Check out our other Cloud Security Social Channels:-Cloud Security Podcast- Youtube- Cloud Security Newsletter If you are interested in AI Security, you can check out our sister podcast - AI Security PodcastQuestions asked:(00:00) Introduction(02:50) Who is Adam Bateman? (Red Teaming & Simulating Nation States) (05:40) Why Identity & MFA Are Not "Solved" Problems (07:50) The Myth: Why an IDP is Not a Firewall (11:30) Consent Phishing: Exploiting OAuth Apps (13:30) The Architectural Shift: Network to Browser (15:30) Scattered Spider & The Rise of Identity Coalitions (19:30) Threat Modeling: On-Prem vs. Chromebooks (23:20) The Problem with SSPM and API Limitations (28:40) How "Click Fix" Attacks Trick Users into Running Malware (32:30) Omnichannel Phishing: LinkedIn, SMS, and Google Ads (34:30) Weaponizing Legitimate SaaS Apps (The DocuSign Exploit) (37:00) Consent Fix: Full Azure Compromise Inside the Browser (38:50) Disrupting the Secure Web Gateway (SWG) Market (41:40) Fun Questions: Wakeboarding, Culture, and Brat's RestaurantResources spoken about during the episode:You can find out more about Push Security here.Thank you to Push Security for sponsoring this episode.
Identity, AI Agents, and the Session Token Time Bomb | Carey Frey (CSO, TELUS) on Cybersecurity Today In this Cybersecurity Today weekend edition, David Shipley interviews Carey Frey, Chief Security Officer at TELUS, about the evolution of identity security and why it's a growing risk in the age of generative and agentic AI. Frey recounts his career from Canada's Communications Security Establishment to leading TELUS's internal security and managed cybersecurity services, then explains how convenience-driven identity decisions led from PKI's unrealized promise to passwords, bearer/session tokens, and today's widespread session cookie theft. He describes lessons from TELUS's deployment of FIDO2 phishing-resistant tokens, the dangers of long-lived SSO tokens across SaaS ecosystems, and how agentic "auto-browse" could amplify harm via the "lethal trifecta" and ephemeral agents with poor auditability. Frey highlights the Syne/SignNet CISO Identity Handbook and calls for stronger cryptographic roots of trust, proof-based tokens, re-authentication across trust domains, and fine-grained delegation guardrails. Cybersecurity Today would like to thank Meter for their support in bringing you this podcast. Meter delivers a complete networking stack, wired, wireless and cellular in one integrated solution that's built for performance and scale. You can find them at Meter.com/cst 00:00 Sponsor Message 00:24 Weekend Edition Intro 00:32 Meet Carey Frey 02:07 Carey's Cyber Origin Story 03:47 Telus Security Two Hats 06:22 Identity's Broken Legacy 08:43 Why PKI Didn't Win 11:25 Passkeys Missed Moment 14:10 SSO Tokens Surprise 19:50 Session Theft Reality 23:18 Agentic AI Stakes 24:17 Building Identity Playbook 25:24 Identity Maturity Model 25:49 Fixing OAuth and SAML 27:00 Industry Call to Action 27:37 Where to Find the Handbook 28:06 Not a Vendor Pitch 30:13 Agentic AI Identity Gaps 31:30 Auto Browse Threat Scenario 33:12 Lethal Trifecta Explained 34:31 Ephemeral Agents and Forensics 37:08 Supply Chain Agent Malware 38:20 Crypto Roots of Trust 39:35 Proof Tokens and Reauth 40:17 Delegation Guardrails 42:34 Regulation or Market Forces 44:25 Practical Risk Decisions 46:20 Wrap Up and Next Resources 48:00 Sponsor and Closing Credits
Okta's Dan Hefley (https://www.linkedin.com/in/dan-hefley), Senior Product Manager for Device Access, explains how Platform SSO brings enterprise identity to the Mac. From day-zero Setup Assistant enrollment in macOS 26 to device bound SSO using secure enclave keys, Dan covers what IT teams need to know about deploying Platform SSO with Okta and Jamf. Dan shares his perspective as a former MDM admin turned identity product manager, discusses how device bound SSO prevents session hijacking with hardware-backed keys, and explains why the Shared Signals Framework between Okta and Jamf creates layered security. Hosts Josh Thornton and Kat Garbis explore what this means for organizations managing Apple fleets. 1:44 Meet Dan Hefley - Senior Product Manager at Okta 5:00 What Is Okta? Vendor-Neutral Identity Provider Overview 6:23 Why Identity and Device Security Go Hand in Hand 7:21 What Is Platform SSO? Native macOS Framework Defined 8:07 Evolution from Jamf Connect Basic to Platform SSO 9:15 Why Platform SSO Was 9:47 Platform SSO in Setup Assistant 10:08 Day-Zero Enrollment Flow - ABM to Jamf to Okta MFA 11:43 Solving Enrollment Friction with Separated Device and User Registration 12:18 Password Syncing Benefits 16:40 How Device Bound SSO Prevents Session Hijacking 17:53 Identity Threat Protection and Continuous Authentication 18:06 Shared Signals Framework - Okta and Jamf Working Together 20:40 Okta FastPass and Passwordless Authentication on Mac 21:20 Device Bound SSO Completes the Day-Zero Story 22:30 Getting Started - Requirements and Deployment Considerations 26:26 Okta's Platform SSO Roadmap and Future Direction 27:43 Key Takeaway - Identity and Device Teams Belong in the Same Room RESOURCES: - Mac Admins Slack - Platform SSO Channel: https://macadmins.slack.com - IAMSE Blog - Okta Integration Guides: https://iamse.blog - Jamf Learning Hub: https://learn.jamf.com/ - Jamf and Okta integrations: https://www.jamf.com/integrations/okta/ Subscribe for Apple device management and security insights WHO THIS IS FOR: IT administrators and security teams managing Mac fleets in enterprise environments. Relevant if you're evaluating Platform SSO with Okta, migrating from Jamf Connect Basic, or planning identity integration for zero-touch Mac deployment. #Okta #Jamf #macossecurity #AppleSecurity #DeviceBoundSSO #macOS #IdentityManagement #PlatformSSO #ZeroTouchDeployment #JamfAfterDark #EnterpriseSecurity #MacAdmin #TrustedAccess #podcast
In this episode host Carolyn Woodard is joined by Norwin Herrera, IT Business Manager and Team Lead at Community IT. Together, they walk through a real-world case study of a public charter school that implemented a Single Sign-On (SSO) platform called Clever that can solve cybersecurity and accessibility challenges for adult or child students.Strategic IT Leadership for NonprofitsUnlike a traditional account manager, an IT Business Manager (ITBM) acts as a strategic partner, helping nonprofit leadership understand the technology landscape and make informed decisions that align with their mission. The ITBM role is unique to Community IT and is an example of a commitment to partnering with clients over the long term.In this case, the goal was to find a SSO solution that could handle a complex mix of Chromebooks and Windows devices while remaining user-friendly for both adult students and faculty.The Power of Single Sign-OnSSO acts as one door for all of your doors. By using Clever as an identity manager, the organization was able to:Enhance Cybersecurity: Centralizing access allows for immediate offboarding. If a student or staff member leaves, closing one account automatically secures access to all others, prevents fraud, and saves money.Automate User Provisioning: Through zero intervention integration with the Student Information System (SIS), accounts are created or deactivated automatically based on enrollment status.Improve User Experience: Students no longer need to remember multiple different passwords for Google, Microsoft, Zoom, and Slack for example. One password provides access to all the apps they have access to as a student using a school device.Reduce Administrative Costs: Norwin breaks down the ROI of SSO, comparing a small per-user fee against the hundreds of hours of manual labor required to manage accounts individually.Change Management and Successful ImplementationA successful IT project is about more than just software; it is about people. Norwin explains why this project resulted in zero tickets and no complaints: it started with leadership buy-in and a commitment to clear communication.Whether you are an executive at a school or a volunteer board member at a community nonprofit, this episode offers practical insights into how integrated cybersecurity and strategic IT planning can save your organization time and money.Listen in to learn how your organization can move toward a more secure and efficient digital future by subscribing to the Community IT Innovators Technology Topics podcast. _______________________________Start a conversation :) Register to attend a webinar in real time, and find all past transcripts at https://communityit.com/webinars/ email Carolyn at cwoodard@communityit.com on LinkedIn Thanks for listening.
On this week's show, Patrick Gray, Adam Boileau and James WIlson discuss the week's cybersecurity news. They cover: Palo Alto threat researchers want to attribute to China, but management says shush An increasing proportion of ransomware is data extortion. Is this good? Cambodia says it's going to dismantle scam compounds CISA sufferers through yet another shutdown Google Gemini's training secrets are being systematically harvested to improve other LLMs Academics assess SaaS password managers' resilience against a malicious server This episode is sponsored by SSO-firewall integration vendor Knocknoc. Chief exec Adam Pointon joins to talk about the latest in defences… which is to say Knocknoc for Solaris/Sparc and HPUX on PA-RISC?! Okay also that other little known OS… Windows. This episode is also available on Youtube. Show notes Data-only extortion grows as ransomware gangs seek better profits | Cybersecurity Dive Arctic Wolf Threat Report 2026 Exclusive: Palo Alto chose not to tie China to hacking campaign for fear of retaliation from Beijing, sources say Risky Bulletin: Cambodia promises to dismantle scam networks by April - Risky Business Media Age of the ‘scam state': how an illicit, multibillion-dollar industry has taken root in south-east Asia | Cybercrime | The Guardian Critical flaw in BeyondTrust Remote Support sees early signs of exploitation | Cybersecurity Dive CISA Navigates DHS Shutdown With Reduced Staff - SecurityWeek Kimwolf Botnet Swamps Anonymity Network I2P – Krebs on Security BADIIS to the Bone: New Insights to a Global SEO Poisoning Campaign — Elastic Security Labs Over 500,000 VKontakte accounts hijacked through malicious Chrome extensions | The Record from Recorded Future News Password managers' promise that they can't see your vaults isn't always true - Ars Technica Zero Knowledge (About) Encryption: A Comparative Security Analysis of Three Cloud-based Password Managers Google finds state-sponsored hackers use AI at 'all stages' of attack cycle | CyberScoop Google: Gemini hit with 100,000+ prompts in cloning attempt Proofpoint acquires Acuvity to tackle the security risks of agentic AI | CyberScoop Cisco Redefines Security for the Agentic Era with AI Defense Expansion and AI-Aware SASE Sophos Acquires Arco Cyber to Bring CISO-Level, Agentic AI-Powered Expertise to Every Organization Dave Kennedy on X: "Regarding this, there was a couple questions on does the pacemaker continue to advertise - most BLE implantable devices go into a sleep type mode. In this case, we are lucky - it does not. We know based on law enforcement answers that she is using a more modern pacemaker with" / X Clash Report on X: "BIG: Dutch Defence Minister Gijs Tuinman hints that software independence is possible for F-35 jets. He literally said you can “jailbreak” an F-35. When asked if Europe can modify it without US approval: “That's not the point… we'll see whether the Americans will show https://t.co/f11cGvtYsO" / X Dutch police arrest man who refused to delete confidential files shared by mistake | The Record from Recorded Future News
China Government Turns APPS into SPY Tools | Ex FBI Agent Explainsew Episode
Sumbits is back. MBA experts Sean Cawby, Eric Schaitel, and Ryan Cockrem sit down (this time with coffee-instead-of-whiskey energy) and catch up on what's been happening while the microphones were off, then get into what's new in PowerSchool since they last joined us. They talk AI (from skepticism to daily tool), the new UI and navigation, security and SSO, data dictionary changes, page permissions, development workflows - along with a few opinions on what's genuinely helpful versus what's just different. The beards might be a little more gray, but the commits are still green.Sumbits is brought to you by MBA. At MBA, we enhance the power of #PowerSchool with plugins, customizations and professional development, transforming your PowerSchool #SIS experience without creating more administrative overhead. Learn more at MBA-link.com
This week, while Maria Varmazis (also host of the T-Minus Space Daily show) is out at a conference, hosts Dave Bittner and Joe Carrigan are joined by friend of the show Michele Kellerman, as they are sharing the latest in social engineering scams, phishing schemes, and criminal exploits that are making headlines. Our hosts start with some follow-up on Joe's egg story, including his latest update and a brief detour into unexpected “big chicken news.” Joe's story is on a massive USDA loan fraud scheme where Nikesh Patel fabricated fake government-backed farm loans, duped investment firms out of hundreds of millions of dollars, and continued running similar scams under aliases and even from prison, ultimately earning decades more in sentencing. Michele's story is on a breaking report about the ShinyHunters group using targeted voice phishing and custom phishing kits to abuse Okta SSO, steal MFA credentials, and gain privileged access for data theft and extortion. Dave's story is on LastPass warning users about an active phishing campaign impersonating the company, designed to steal master passwords and potentially expose all credentials stored in affected vaults. Our catch of the day comes from the Reddit, where two people we're approached by scammers through text messaging and both dealt with their scammers in different ways. Resources and links to stories: Sticky Fingers: USDA Fraudster Steals $200M in Stunning Scam Formerly Married Couple Sentenced For Multi-Million Dollar Fraud Schemes A new wave of ‘vishing' attacks is breaking into SSO accounts in real time LastPass Warns of Phishing Campaign Attempting to Steal Master Passwords Have a Catch of the Day you'd like to share? Email it to us at hackinghumans@n2k.com.
In this episode of SurgOnc Today, Drs. Shelley Hwang and Mediget Teshome are joined by international leaders Drs. Wonshik Han and Jeong Eon Lee to reflect on key insights from the 2025 Global Breast Cancer Conference and look ahead to future directions. The conversation highlights evolving trends in breast cancer care, including surgical de-escalation, care of younger and premenopausal patients, emerging technologies, and opportunities for continued global collaboration between the SSO and partners across Asia.
SANS Internet Stormcenter Daily Network/Cyber Security and Information Security Stormcast
Odd WebLogic Request. Possible CVE-2026-21962 Exploit Attempt or AI Slop? We are seeing attempts to attack CVE-2026-21962, a recent weblog vulnerability, using a non-working AI slop exploit https://isc.sans.edu/diary/Odd%20WebLogic%20Request.%20Possible%20CVE-2026-21962%20Exploit%20Attempt%20or%20AI%20Slop%3F/32662 Fortinet Patches are Rolling Out Fortinet is starting to roll out patches for the recent SSO vulnerability https://fortiguard.fortinet.com/psirt/FG-IR-26-060 SolarWinds Web Helpdesk Vulnerability Another set of vulnerabilities in SolarWinds Web Helpdesk may result in unauthenticated system access https://horizon3.ai/attack-research/cve-2025-40551-another-solarwinds-web-help-desk-deserialization-issue/
SANS Internet Stormcenter Daily Network/Cyber Security and Information Security Stormcast
Automatic Script Execution In Visual Studio Code Visual Studio Code will read configuration files within the source code that may lead to code execution. https://isc.sans.edu/diary/Automatic%20Script%20Execution%20In%20Visual%20Studio%20Code/32644 Cisco Unified Communications Products Remote Code Execution Vulnerability A vulnerability in Cisco Unified Communications Manager (Unified CM), Cisco Unified Communications Manager Session Management Edition (Unified CM SME), Cisco Unified Communications Manager IM & Presence Service (Unified CM IM&P), Cisco Unity Connection, and Cisco Webex Calling Dedicated Instance could allow an unauthenticated, remote attacker to execute arbitrary commands on the underlying operating system of an affected device. https://sec.cloudapps.cisco.com/security/center/content/CiscoSecurityAdvisory/cisco-sa-voice-rce-mORhqY4b Zoom Vulnerability A Command Injection vulnerability in Zoom Node Multimedia Routers (MMRs) before version 5.2.1716.0 may allow a meeting participant to execute remote code on the MMR via network access. https://www.zoom.com/en/trust/security-bulletin/zsb-26001/ Possible new SSO Exploit (CVE-2025-59718) on 7.4.9 https://www.reddit.com/r/fortinet/comments/1qibdcb/possible_new_sso_exploit_cve202559718_on_749/ SANS SOC Survey The 2026 SOC Survey is open, and we need your input to create a meaningful report. Please share your experience so we can advocate for what actually works in the trenches. https://survey.sans.org/jfe/form/SV_3ViqWZgWnfQAzkO?is=socsurveystormcenter
SANS Internet Stormcenter Daily Network/Cyber Security and Information Security Stormcast
Microsoft Patch Tuesday Microsoft released its regular monthly patch on Tuesday, addressing 57 flaws. https://isc.sans.edu/diary/Microsoft%20Patch%20Tuesday%20December%202025/32550 Adobe Patches Adobe patched five products. The remote code execution in ColdFusion, as well as the code execution issue in Acrobat, will very likely see exploits soon. https://helpx.adobe.com/security.html Ivanti Endpoint Manager Patches Ivanti patched four vulnerabilities in End Point Manager. https://forums.ivanti.com/s/article/Security-Advisory-EPM-December-2025-for-EPM-2024?language=en_US Fortinet FortiCloud SSO Vulnerability Due to a cryptographic vulnerability, Forinet s FortiCloud SSO authentication is bypassable. https://fortiguard.fortinet.com/psirt/FG-IR-25-647 ruby-saml vulnerability Ruby fixed a vulnerability in ruby-saml. The issue is due to an incomplete patch for another vulnerability a few months ago. https://github.com/SAML-Toolkits/ruby-saml/security/advisories/GHSA-9v8j-x534-2fx3
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