YouTubers Win at the Box Office, Bernie Wants Public Stake in AI, Anthropic Files S-1 | Diet TBPN

We have some really exciting news. We heard you loud and clear. You might have noticed on the Khiron web.

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It's funny. We heard over and over and over. I'm not joking. I know I get sarcastic a lot, but we heard over and over and over that wear a nice palate cleanser. It's like turning the page right in between different topics. And we are excited and we love these companies.

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We want to help them grow. We've always been huge fans of the companies that we work with. So we're very excited to have them back. Let's Turn over to YouTube and Hollywood. Breakout news in Hollywood. YouTubers winning at the box office. YouTubers finally breaking through to Hollywood feels super long overdue. Ben Thompson had a good victory lap post because he predicted this all the way back in 2017. It took a decade to get here, but YouTubers are fully in control of Hollywood and there's a bunch of crazy statistics, but 2026 really is the year that Hollywood and YouTube finally, it feels like they found a way to work together in perfect harmony. It honestly seems win win here. Yeah.

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Total disruption. Yeah, right.

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No collaboration with that. Actual collaboration. And so, I mean, we all know Hollywood's been faced with a ton of challenges. I was just listing them off off the top of my head. What's this?

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Trey says a TVPN without ads is like a human without a heart.

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Couldn't say it better myself. I was.

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Ryan says calling in to the waiting room and not the restream waiting room was a crime.

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Yes, that's true. So I was just listing off like all of the challenges that Hollywood has faced over the couple decades and it's so bad. It's piracy. Like you used to just be able for a lot for all through like the mid 2000s, people would just download movies. Then better TV shows. Like TV just got so, so much better that that really took a lot of gas out of Hollywood because it used to be if you wanted something cinematic, you had to go to the theater. And then Game of Thrones came out and all of a sudden tv, we went through like the era of great TV streaming. Obviously that Moved a lot of people out of theaters. Covid that shut down the movie industry entirely. There were strikes, the double strike, writers and directors strike, and a whole bunch of other strikes that went on. There was competition from other production markets, lower cost and that, you know, that can sometimes help certain elements of Hollywood, but it also hurts Hollywood, the physical place.

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Yeah. Meanwhile, streaming just created such a massive boom in spending on like a bunch of random projects. Not necessarily like, like blockbusters, but just like every platform needed more content and there was a lot of competition.

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Yeah. So throughout all of that, there was sort of a silver lining. I mean, the streaming thing is a big one of that. That there were jobs and projects that were getting greenlit on streaming platforms, but also just the creator economy. Like, even though the number I was looking at, the number of like shoot traditional Hollywood shoot days in Hollywood, it's fallen off a cliff post Covid never fully recovered. But the number of people working in front of the camera, behind the camera, around the came in broadly, has obviously gone up throughout the creator economy boom. This was always unsatisfying to cinephiles, though, because no matter how viral a TikTok goes or no matter how much money Mr. Beast or some other creator like makes, it never feels as culturally important as the Godfather or some other. Or the Titanic or some movie that everyone comes together, everyone has the shared cultural experience around. We were all in these little bit of these isolated niches. And oh, yeah, I'm really into this creator, but anytime I try and bring it up to anyone, they don't know what I'm talking about.

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Yeah. Our moment is I see a meme starting to grow and I tell you, I make the call to you and then we just kind of bet on it, basically.

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But even those, it's very hard for them to break out to such a degree that you can bring it up to anyone, your little nephew or your uncle, and they both have an understanding. Like they did during the Titanic era. Like they did during the Godfather era era. Like they did during Star wars, which is at the center of this story, because the Mandalorian and Grogu is the latest Star wars project and it's actually been declining in the box office. It's been eclipsed. And there's been three movies that have been really, really breakout performances. So also, the Oscars are going to be streamed on YouTube in 2029. It feels like by 2029 this whole trend is going to be in full force. So look at the stats. So Kane Parsons backrooms opened to roughly 81.5 million in North America and 115 million worldwide on a $10 million budget. Reportedly Curry Barker's obsession climbed is climbing in his third weekend and hit 104 million. 104.7 million domestic becoming focus features highest grossing domestic release from a movie widely reported to have cost around 1 million. That seems.

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And right now on X every single day there's a post that goes viral about obsessions return on their budget. Yeah, they're like this million dollar film, you know, it's just happening over and over and over.

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Yeah. And then.

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And so like the business story. Oh, it's huge to me is like way more. I mean is everything.

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Definitely, definitely. And then we also talked about this earlier and it's sort of looped in with this. But Markiplier, another YouTuber released Iron Lung which he financed himself $3 million production budget reportedly and opened to 18.2 million domestically before grossing 41.1 million domestic, 51.2 million worldwide. Huge return on investment. And so it's easy to point to these sort of. The story is YouTuber with a big audience just converts that audience into ticket sales. But that's not exactly. It's not really that clean. And there's a bunch of counter examples. So are you familiar with Ryan's World? Ryan's World is this massive kids YouTube channel.

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Oh, is it like a toy unboxing?

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Yeah, yeah, yeah. Ryan would unbox toys and it became a huge, huge channel and they actually made Ryan's World the movie Titan Universe Adventure. But it grossed only $624,000 on something like a $10 million budget. And so he wasn't able to convert that audience directly over. And I think with someone like Ryan

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Young was he encouraging children to take their parents keys and wallet and just go down to the movie theater? Because that's part of the issue with these channels and monetizing them is there's somewhat of a. There's a disconnect between the audience and who the actual buyer is. The person that controls purchasing power in the household. So you might have like an 8 year old kid who loves these videos, but anytime they actually want to act on the content, they have to.

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There's a translation step. Sometimes that can work though. You know, you see the advertisements of the toy on the cereal box and the kids demand the toy. What is different about backrooms, Obsession and Iron Lung is that the filmmakers had, they'd shown they didn't just have huge audiences like some of these. Markiplier is a truly large creator but the folks behind Backrooms and Obsession are in like the single digit millions alone. If they didn't have the creativity, if they didn't have the risk taking abilities to actually produce something that could sort of draw attention in theaters, I don't think they could have just converted their subscribers over like the conversion rates just don't match up. Because if you're on 1 million subscribers and you did 100 million in box office, the math just doesn't match up. Did some, did everyone? Did all of your subscribers go see it five times and pay $20 each time? No way. Like that's not what happened. The idea of like this creativity, risk taking, new ip, this is like at the core of Hollywood successes. I was reading the Hollywood Reporter, they were saying like this harkens back to like the 1970s George Lucas first film. Ben Thompson has a great analysis that we can read through. But these creators aren't just big influencers with millions of fans. They do have big audiences, but they also stand above their peers in terms of artistic vision. So Curry Barker had a YouTube sketch channel called that's a Bad Idea where he learned how to quickly and effectively write, act and edit for a tight audience feedback loop. Backrooms has a similar story. Kane Parsons, who goes by Kane Pixels, produced his original series the Backrooms in Blender and After Effects. And the Internet myth had laid a bit of the groundwork. And we can go into some of the lore of Backrooms. It's a very fascinating story. It all started with a single image of a furniture store that was being renovated at the time. And that picture just went viral and just like kept building lore and became one of these creepypastas and then eventually turned into his YouTube series which turned into this film. And it's one of these very interesting origin story behind a piece of intellectual property. Typically you don't see just a random image go viral and become a movie, but let alone a successful movie. But here we are being able to create something engaging for social media. Virality is probably somewhat important to creating a film that works in theaters. I think there is some stuff that translates. We're seeing this with the sort of like youtubication or retention editing on Netflix. But I think the bigger value is being like a full stack filmmaker. So gone are the days of showing up to Hollywood with a manuscript and just expecting the studio to do the rest for you. I think that the traditionally segmented teams on productions are simply too expensive to do to be deployed on anything but existing ip. So the dedicated writer, the dedicated cinematographer, the dedicated sound designer that'll show up for the Mandalorian and Grogu because they know that there's a certain amount of people that will just see every single Star wars movie. But to take a risk on new IP from a new creator, you have to understand that that creator is going to be able to leave their fingerprints and actually drive every piece of the production.

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Yeah. How do you, how do you think the big studio execs are processing, you know, these two, these two films? Because you would think, okay, movies are a hits driven business if you have $100 million budget, like thinking about it, like if you're an early stage investor, like super early stage seed Series A and you have $100 million to invest, like sometimes the best move would be putting $100 million into one team. But there's a reason that people say like, hey, we're going to make 20 to 30 investments across this fund, maybe, maybe more, depending on the strategy.

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They're doing a lot more million dollar films.

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Yeah. And so, and so it feels like it's already so much sense because one film can generate the entire fundraiser, can be a fund returner. But at the same time, is it, is it studio execs that just love the rush of just like doing a big deal? Right. Oh, is, is there some, as opposed to. Not like, not basically like direct financial incentive where there's just the status associated with putting together a blockbuster.

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I don't know. I do think we will see more $10 million films, more lower budget films. It feels like there's definitely a certain breed of Hollywood executive that their whole skill set is aligned to. How can we put 100 million, 200 million to work and actually guarantee a return on that? So they're going to be working on the Avatars and the Marvel movies and the DC movies and the Harry Potter movies. But for the next generation, that track feels like very much bought in. So there are already more of these sort of like YouTube adaptations in the works. One is from Wesley Wang who went viral for interestingly Obsession and Backrooms are both horror films which are notorious for being cheap to produce and potentially very high return. He went viral for a non horror YouTube short called Nothing Except Everything. Tristar picked it up with Darren Aronofsky's Protozoa producing and Wang set to adapt it as writer director. And then there's also the much sillier but extremely viral Skibidi Toilet which was created by Alexei Gerasimov in 2023. And that project has been going back and forth, but reportedly Michael Bay was attached at one point. They were thinking maybe TV show, maybe movie. But that, as silly as that sounds and as ridiculous as that series is, it did build, like, a little bit of a lore world. It captured a lot of people's fascinations and. And the numbers are really staggering. There is a little bit more nuance there because on the IP side, because it was created in Source Filmmaker, which is basically like Half Life or Counter Strike, so you design the level and then you can move the camera around through that. He didn't use Blender, and he didn't shoot it with a camera. He actually made the whole series in a video game. And a lot of the assets pull from Half Life 2 or Source. And so if you want to maintain that, you have to go do a deal with Valve, which, you know is a private company owned by Gabe Newell. It doesn't necessarily need to just allow someone to do this. And there's already been back and forth on, like, takedown notices. So that's a whole different negotiation if that winds up making it to the silver screen. But I do think there will be more unpredictable breakouts in the coming years. And I wouldn't be surprised if we see Hollywood executives combing through obscure YouTube playlists for new gems. And some members of our production team saw both Backrooms and Obsession, and I want to get some reviews. What did you guys think? Which one was better? Take us through it.

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My vote's Obsession.

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Obsession.

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Scott, what'd you think? Obsession.

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Okay. And what did you like about each one? What did you dislike about each one?

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So Obsession was great. I feel like the filmmakers have gotten too good at making horror movies sometimes recently, like this, like, Ari Aster type wave. I remember leaving Midsummer and just feeling gross for days. And I felt like Obsession walked it back a little bit. And it was a bit of a comedy, too, so it was fun. I felt like the memes are all over it, which is great. Back rooms. We all kind of walked out. I love back rooms. Production design should win an award. But something was missing from the movie, I think.

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Apparently they built 30,000 square feet of actual set for backrooms. They really designed it. As you said. The production design was fantastic. And that feels like. I mean, the source material is literally in Blender. It would be so tempting just to be like, yeah, just send us the Blender files. Like, we'll just continue using. Like, you're already working in cgi. Like, it's not like, oh, this isn't true to the source material. Like, it's actually less true to go build the set. But they did and clearly you enjoyed that look and feel and sort of worked out.

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Yeah, it was really fun. Scott's got something I want to shout out. Haley Johnson, who produced Obsession too.

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She went to our film school. Fantastic. Let's go over to Ben Thompson, your

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guys class at your film school, which I think no longer exists. Truly insane caliber of talent to come out of that school. Well done.

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So Ben Thompson reflected on this as well. He was taking this victory lap on calling this in 2017. He said in 2017, when the first public allegations were made against Hollywood producer Harvey Weinstein, I wrote Goodbye Gatekeepers about how the traditional structure of Hollywood, where the supply of people who wanted to make and be in movies far exceeded the demand for movies to be made by Hollywood, created the conditions for his predation. So he had a lot of power. As he noted in the article, a similar structure used to be the case in newspapers, which not only gated what news was reported, but also leveraged that gate to monetize via advertising. However, the Internet had long since broken down the gate in both regards. Meanwhile, I raised the specter of something similar happening to movies. Don't forget YouTube video is a zero sum activity. Time spent watching one source of video is time spent not watching another. And YouTube showed over a billion hours

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of video every day with two phones watching two things. Wheels on both phones.

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Yeah. Subway Surfers.

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Yeah, just going like this.

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Well, if you have VR, you can have way more screens open. You can, because you can just.

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You can't. When is Subway Surfers getting an adaptation that feels like. That feels do for a trilogy. Subway Surfers the movie. I think we got something. We cannot be the first people to think of Subway Surfers.

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Angry Birds is like a, you know,

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oh yeah, they're making a third one or no.

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But I want it to be a movie where you're just like. You're basically just going one direction.

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No, it has to be a gritty horror film that takes place in the Subway Surfers universe. So Ben Thompson continues. He says it's not a surprise that the breakthrough moment for YouTube stars in film took nearly a decade to materialize. After that article, I've long noted the sequence through which the Internet and digital media has affected media. Text first, then music, then short form video, et cetera. Movies, the pinnacle of traditional media, are the hardest to both make and distribute, particularly if the goal is to make it into theaters. And of course, movies ask the most of customers in return, they actually have to leave the house. Ben Thompson Continues. He says that leads to two true but ultimately unsatisfying answers as to why YouTube stars might succeed in movies. First is that this is simply a new place to discover talent, and that that's certainly true. The analogy I would draw is to the impact AWS had on venture capital. Cloud computing reduced the cost of starting a company to nothing more than the opportunity cost for the founder's time and perhaps a bit of seed funding for a few engineers. And that created an entirely new asset class of angel investors. Venture firms, meanwhile, didn't evaluate companies based on a power point to fund sun servers, but rather on actual products and market signals. So it is with this new wave of talent, the cost of production has plummeted such that a creator can be evaluated on their creations, not just their ideas. That's what I was talking about. The YouTube growth and the YouTube product and the YouTube series that gets 82 million views in the example of backrooms. That is the audition tape that gets you the production workforce behind Hollywood to actually marshal behind you. And that's the same thing with the startup that shows up on Sandhill Road, raising a Series A that already has a product and some distribution and some customers and ARR. And all of that is possible because you don't need $10 million to do a single prototype. You can just build it. More true than ever in the age

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of AI Ben Scott, how do films actually get funded? I've been pitched like invest in my movie before, but given that I don't watch movies, didn't feel like it was really my strike zone. But how does it typically get structured? Like if a film needs a million dollar budget, are the investors getting like an independent film is $1 million budget.

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Yeah.

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How does equity work? Any, any rough ideas?

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Typically there's, there's a series of buyers

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and investors distracting you guys.

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Very similar, very similar.

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We'll do it live.

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So, so Scott's job is oftentimes a screenwriter will sell an option to, to make a movie to a producer, some sort of production team. They are. The, the production company is oftentimes the investor. They buy it and then they might invest more money to bring on revisions. Other script writers, they might attach a, they might go pitch a, do the deal to bring on a star and then from there they go to another producer. And then the last time, the last moment is the actual marketing phase. And so those dollars are the biggest. So when you go and you get Universal or Disney to be the distributor, they're putting in a ton of money because they're Going to buy the billboards and like the super bowl ads. And that's really expensive. The movie has to be made at that point. But there's a series of sort of gates in the typical Hollywood fashion. And so when Markiplier says he spent $3 million, that means he spent $3 million paying the advertiser.

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Yeah, because even with Obsession. Yeah, I was seeing Obsession billboards everywhere around la.

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Yeah.

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Like at least a million dollar campaign.

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Yep.

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Right when the videos were coming out saying obsession just turned 750k and $100 million. And so I was like, well, so

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a lot of times that might happen after the fact.

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Yeah, that's an after. There's more money being spent to like, you know, it's like, hey, we have a hit now. Let's like.

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And then, and then basically at every phase there can be sort of an in kind investment where you. They call it like points on the back end basically. But it's basically like the most famous example of this is probably Robert Downey Jr. In Iron Man. He took a very low salary up front, cash up front. But he got a huge stake in the downstream cash flows from that series

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saying he's goaded, he's goaded.

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There's also a cool video here of the history of liminal spaces we should pull up because backrooms of course is pulling from a lot of interesting videos. Let's play this, this. Can we zoom in this at all? There we go. Truman Show. Haven't seen it. I've seen it. It's great. I can't believe you've never seen Truman Show. It's so good.

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Should we get some liminal spaces here in the Ultra Dome?

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The Ultra dome is a little bit of a liminal space. We should make it more of a liminal space. There are some podcasters that have liminal space type setups. Unbox Therapy is a famous one.

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You guys haven't seen it, but do

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you know like the tape on the wall, do you know what that is?

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No, what's that? Okay.

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I mean, I guess no spoilers, but.

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Oh, okay.

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Yeah, we can put tape on the wall. People who have seen it will know what that means.

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Anyway. We can just vibe out to liminal spaces for the rest of the show. Let's see what Dan Shipper has to say. This will happen too. With AI in about a decade, studio executives and producers are racing to find movie material in corners of the Internet they once dismissed as some of the greatest threats to their business. From YouTube to anime to video games. We talked about Subway surfers. We're seeing the tide shift from these more conventional Hollywood narratives to something that feels more organic. Ooh, all the simulators. Maybe there will be Data Center Simulator the movie. Can you imagine? We got Data Center Simulator or what was the other one? Coconut Simulator. We got to get Coconut Simulator in the movie. Realistic mode.

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Capybara Simulator.

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A movie that's just a nature documentary. Get David Attenborough in there, you're done. Well, Bernie Sanders is talking about taking a stake in the AI labs. He says AI is built on humanity's collective knowledge. The wealth it generates must benefit humanity, not just Elon Musk, Sam Altman or other AI oligarchs. That's why I'll be introducing the American AI Sovereign Wealth Fund act to give the public a direct ownership stake. And he penned a full op ed in the New York Times. Senator Bernie Sanders is proposing a one time 50% tax directly in stock from the AI labs which will be used to fund the American AI sovereign wealth fund. This would give the government voting rights and board seats and then directly pay a dividend to the American citizens. That's interesting because. So you take it 50%. Like when would these companies actually produce a dividend? I mean it takes many tech companies like decades to actually return cash to shareholders they're known for.

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Maybe he wants to just be fire selling.

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Yeah.

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After the IPOs,

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he's just like, this is the.

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I didn't tell you how there was

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going to be a dividend dividend in sales.

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No, it's. I mean the positioning. I'm trying to get into the New York, into my New York Times account too. But the positioning blank is built on humanity's collective knowledge.

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Yeah.

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What is not built on humanity's collective knowledge?

23:46

Yeah. I was looking at a lot of.

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TBPN is built on. TBPN is built on humanity's collective knowledge. If humanity hadn't figured out wheels and roads and combustion engines.

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Hey, be careful what you say. The United States American citizens might own 50% of TBPN soon. You never know with this.

24:02

You never know. You just never know. You're tempting fate here, but bad example. But yeah, the other thing is, you know, we have.

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Yeah. AI 2027 talks about this. I think that's it is right in line. He's clearly in the milieu of that crew. And we'll see where all this goes. You know, I don't know. We'll see. It's a lot of people are sort

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of framing it as rather have universal basic tokens.

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Maybe that would be the dividend.

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I don't know, but it's interesting. So he's trying to ban data centers with the Data Center Moratorium act, but then he also wants half. Yeah, those two things feel like. It feels like he's just kind of throwing stuff at the wall.

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Yeah. So Dean Ball pointed out this sort of like, you know, misalignment here. He says, I am so confused by the Bernie Sanders stance on AI. Is AI an existential risk that needs to be banned or a public good that should be redistributed? He wants to have it both ways, which is the tell that his flirtation with AI safety is mostly for show. This is about capital. Interesting. At the same time, I think that there is a world where if you do think AI is an existential risk, having a board seat, having control, having votes over that does enable. Especially if you have a board seat over every AI lab. You could actually do the thing where you say, we're all going to slow down simultaneously. That's a lot easier to implement if you have 50% control over everything. Tyler, what do you.

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Yeah, but you can just do like the fda.

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Yeah, yeah.

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You don't need, like, actual equity.

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Yeah.

25:44

Okay. This is my kind of contrarian take.

25:44

Okay.

25:46

But this seems like extremely bullish. Right. Because Bernie, you don't think of him as being this kind of classically capitalist person. Yeah. But maybe these are going to be biggest.

25:46

He's saying that the stock's underrated. Yeah. Undervalued.

25:55

These are going to be the biggest.

25:58

Yeah. Because. Because of all the stocks we're going

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to so back that this is going to be, like, disruptive to the economy.

26:01

Sure.

26:04

Like, this seems like he's extremely AGI pilled.

26:04

It seems like it.

26:07

Yeah. Yeah. It's like this seems like he's basically saying, wait, so the data center stuff is, like, probably not going to work out. I'm not going to be able to ban these things.

26:07

Mark in the chat says, Mr. Sanders is your crazy uncle that your mom and dad use as a babysitter when there are no other options.

26:15

Interesting.

26:27

You think that Bernie has been getting his AI takes from Jason Oppenheimer.

26:27

I'm not going there yet. We'll get there. But first off, I mean, the big news today, Anthropic is confidentially filed for ipo. They should be out. Space X is going public. Google's public OpenAI. There's rumors of an IPO file.

26:34

Yeah, and that's what. That's what gets really crazy here. Right. Because is Google. Google's a leading lab for sure. Does Bernie want.

26:49

Yeah, but then is. Is Salesforce an AI company?

26:57

Is Metta.

27:01

Is Metta. Yeah. Meta.

27:02

I mean Mark. Mark would be. We were talking about this earlier. Mark would quickly be like me trying to build personal super.

27:03

I'm not. I'm not an A.I. company.

27:10

I'm not an A.I.

27:12

company.

27:13

I'm not an A. I. Lab.

27:14

I'm just doing some.

27:15

I got these GPUs to 99 recommend

27:16

better videos that were created is just.

27:19

Recommendation is going to take half of all birds.

27:20

Oh, no. We talked about the dueling narrative. So Anthropic is ipoing or they have. They have confidentially submitted a draft S1 registration statement to the securities and Exchange Commission. Pending completion of SEC review. This gives us the option to pursue an initial public offering. There's a race between SpaceX OpenAI anthropic to get out, hoover up those public market dollars. Meanwhile, it was so over for all the SaaS companies. But the SaaS apocalypse might be canceled. That's what we're seeing. A lot of companies are up. Some of them are up on Anthropic holdings, but others are just up on contin new traction in their.

27:23

Mark's got to be feeling good. He invested 50 million into anthropic, I think in 2023 or 2024.

28:02

Cheeky. 100x.

28:09

Very cheeky. Very cheeky.

28:10

I think he's.

28:12

He's feeling good. He's now going to deploy 2 billion euros into France.

28:12

Love it.

28:16

Our strong team of 1800 employees in France.

28:17

Wow.

28:21

More committed than ever to driving innovation and agentic growth across the country. And I love this new Meta. I think this picture is. This is the new. This is the new Vibreal Meta. So anytime you do a business transaction, snap a selfie with your business partner, post it. You don't need to make a video with a bunch of, you know, sort of videos throughout history of, you know, hypersonic jets and rockets and things like that. Just take a selfie, post it, you're good to go. Much more efficient.

28:22

Okay, so.

28:54

And I'm dropping after this partnership, I just got to say I'm. We're canceling my personal beef with France.

28:55

Oh, that's great.

29:02

This is a fantastic progress.

29:03

Benioff won you over.

29:05

And yeah, if they have Benioff's full faith, they have my full faith. And already this 2 billion euros, I think is significantly more than their. Their. The previous investment that they announced that created the original Beef.

29:07

Yeah, yeah, beef squash. It's good to see. Good to see. Well, Benioff gave some more context on Salesforce's progress. The fiscal year 27 Q1 results record revenue 11.13 billion up 13% year over year. This is a very mature company. Still growing very quickly. Very good news. Operating cash flow of 6.7 billion. Agent Force crossed 1 billion. ARR or yeah ARR combined with Data 360 and Informatica now at 3.4 billion in AI data.

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ARR.

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We're not just talking about the here.

29:58

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Fire emoji Anyway, let's go through what Brandon Grell summarized From Jensen Huang's Computex 2026 keynote Nvidia CEO made several announcements during his keynote speech at Computex Taiwan's annual technology expo. I guess it's their CES, but more enterprise focused even. He introduced the RTX. The Nvidia RTX Spark superchip, an ARM based chip for PCs designed to process AI workloads locally. He announced that the Enterprise Vera Rubin CPU is now in full production. And he announced several foundation models, a world model open weight flagship AI model. That seems like big news. Open weight flagship AI model. We heard that he was investing billions of dollars in that but I think everyone's very interested to see where it benchmarks against the five fives. The what is anthropic on four, eight now? And the three fives from Google like the closed source models have been on the frontier and there's been the chart showing that the open source models from China have been sort of decelerating or they're just, they're growing more linearly than the than the American closed source models. So is there a gap there? Where does Nvidia fit in with their open weight model? That's an interesting question. And he also released a model specifically designed for humanoid robots. A lot of the attention from the keynote came is going to the RTX Spark, which is being viewed as Microsoft's attempt to create its own Apple Silicon moment. And Microsoft coordinated its announcements of its new Surface Laptop Ultra, which will be optimized for RTX Spark and will be released this fall. Well, we can close with Will Menaitis. He says I don't think any of you understand what is about to happen in the market. We are about to live through the craziest five year run in techno capital history. God help us all. I pray that when the judgment comes, he can see see all that we did to ensure efficient price discovery. He's bullish.

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He's flipped extremely bullish recently, which I don't know if that's bullish or him being bullish.

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Bearish. If he's bearish, you should be bullish. Be bullish when other people are bearish. Be fearful when other people are greedy. Who knows? Do your own research, make your own decisions. Adam Faze also hired a sketch artist for a party. He said, I'm so tired of how many experiences of my life have been now been taken over by phones and content. So for my birthday party this year, I told my friends to leave their phones at home and had a sketch artist capture the night instead. Thought this was very, very cool. Wildly different and like all of these can be printed or framed. I mean, I guess they're physical pieces of art, but they could also be replicated for the partygoers. Very, very cool. Analog. This is why vinyl records are at an all time high. There is demand for both the content barbell.

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This is very cool.

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And the slop and the artisanal handcrafted sketch artists from Adam Faze. Very, very cool. And we will see you.

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It's been an honor.

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Tomorrow morning. Flashbang.

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