Title: The Best Stock To Buy During The "AI Slowdown" Show: Joseph Carlson After Hours Guest: Joseph Carlson Date: 2026-SEP-14 URL: https://youtu.be/EvRmra6O5FY Length: 35:38 (2138 s) Note: Auto-captions cleaned — verbal fillers (uh/um, filler "you know"), stutters/false starts and "[snorts]" noise tags removed; wording, numbers, names and every (mm:ss) cue otherwise verbatim (caption mis-hearings such as "Daario"=Dario Amodei, "Jacob Coxin", "Alex Wing"=Alexandr Wang, "Shangjaya Zhao"=Shengjia Zhao, "Enthropic"=Anthropic, "fair"=FAIR are left as captioned). ">>" marks a played news/interview clip.
00:00 Welcome back everyone. Today on the Joseph Carlson show, there is an allout war against AI and it's being led by none other than the top companies themselves, primarily Anthropic. We know that Jacob Coxin, the whistleblower that quit his job at Anthropic and said that AI is going to potentially kill all of humanity within the next decade.
00:18 That of course happened last week. But even from then, things started to boil over the weekend. We have Daario stepping up saying that he wants to pace the frontier, calling for a big slowdown. Now, Daario is the leading company. Anthropic is the biggest one in AI, and they're specifically calling for greater government regulation.
00:38 And while this is going on, there's going to be some companies that benefit and some that don't. In this episode, I'll be highlighting what I believe is the top company to benefit from a AI slowdown, but we'll also be looking at Daario and his motives himself. Why would Daario really call for a slowdown? Why does he really want to pace the frontier? Is it really because of safety concerns? Is he really just that scared of AI? Well, we'll be looking at that, the safety issue, but also many other potential reasons that Daario would specifically
01:05 benefit from a slowdown in AI. We have all of that to get into, plus we have the fail of the week, which in this case is the Hunter Biden memecoin, which is the laptop memecoin. You may have thought memecoins aren't a thing anymore. Well, apparently they still are. We'll be looking at that as well. So, we have a ton to get to in this episode. Let's go ahead and jump in.
01:22 Now, we start things off today by looking at the great battle that happened online over the weekend. If you're not chronically online like I am, and hopefully you aren't, you may have missed that on X many other social circles, there was a great battle online between many people giving takes and thoughts about AI regulation.
01:39 What sparked all of these concerns? Well, it's been culminating for a while. We had the hugging face hack that was exaggerated to a huge extent. Everything was talked about like it's lifelike and AI can simply decide to do things that it wasn't instructed to. You also have the fact that you have Jacob Coxin, the whistleblower that looks a little bit like Harry Potter, that said that he believes that there's a good risk that we'll all be annihilated by AI over the upcoming decade.
02:04 And he went on to many shows including Anderson Cooper for highly viral interviews where he laid out his extremely doomerish take. And that caused a lot of hysteria. a lot of people that weren't aware of these risks and now they're even more scared of AI than they were before. But it didn't end there.
02:21 After that happened, Daario, the CEO of the biggest AI company in the world, the one that's in the lead right now, which is Anthropic, decided to release a long write up. And this was interesting timing. It only came days after Jacob Cox's whistleblower moment. But you must have thought that this was a good time to release it. The writeup is called We Must Pace the Frontier.
02:38 And it's not too dissimilar from other write-ups he's done. Now, of course, as you would expect with the big concerns of different employees at Anthropic, espousing their views, then we have the CEO also writing a big letter saying that we need to slow things down, that it's too dangerous. This has caused even bigger panic. It hit a boiling point.
02:55 It started to boil over over the weekend and now investors are genuinely becoming concerned that there's going to be a serious slowdown in the frontier of AI. Many of the stocks that are AI stocks like ASML, Nvidia, these type of stocks have gone down today. And we have other leaders, including one important one, Sam Alman of OpenAI, joining in with Daario to some degree, saying, "Yeah, we could slow down the frontier and be a little bit more cautious.
03:21 " Now, the most important part of the slowdown that Daario is calling for is not just to slow down for his company that is leading the pack or even Open AI. He's not wanting just those two companies that are the most dangerous one with the biggest models to slow down. Now, see, Daario wants everyone to slow down, no matter really where they are in this race.
03:41 He says a coordinated pacing strategy would give Frontier AI developers the time to do this work without sacrificing commercial advantage. It has to be a coordinated pacing. He's calling for regulation that doesn't just slow down OpenAI or Enthropic, but it also slows down Microsoft and Google and Meta and all the rest of them.
04:00 They have to have a coordinated pacing. Now, I'll speak to Daario's incentives for having a coordinated slowdown in a minute, but before we jump into that, I think it's good to highlight what companies would really benefit if this was the case. Meta will be one of, if not the top benefiting company from an overall coordinated AI slowdown.
04:17 Now, there's a few reasons that Meta would be the biggest beneficiary in a real coordinated slowdown. Let's assume that there is this true genuine coordinated AI slowdown and pacing. That these companies don't spend as much money on training new models. They don't spend as much money on building out capex and warehouses that all the hundreds of billions of dollars spent every single quarter that these companies are spending. All of that is slowed down.
04:40 All of it is regulated. If that is the case, what company is spending more money on capex, more money on AI development with less direct revenue from AI than Meta? Right now, there really isn't one. Amazon spends a lot of money on AI, but they have AWS that directly monetizes AI. We have Google with Google Cloud.
05:01 We have Microsoft with Microsoft Azure. All of them are renting out their capacity. The only company that's really spending on it as an indirect way of creating revenue is Meta. And the ways that Meta actually makes money from AI, their core business, that'll continue to monetize. They can continue making improvements on that without the leading AI.
05:19 Meta does not need to be on the bleeding edge to monetize their core assets directly. So Meta is in this unique spot where it's a company that is growing revenue faster than almost any other big tech company. It's not growing as fast as the AI labs themselves, but it's growing very quickly. The revenue grew 27% year-over-year on a trailing 12-month basis.
05:40 Yet, even with this incredible revenue growth, Meta Stock really hasn't been rewarded. It's been flat all year, hasn't made any gains, and it continues to trade at a very low valuation optically. And the reason why is because of this the capex investors look at all this capital expenditures and they can't link it to a direct revenue stream.
05:57 If there was this coordinated slowdown, Meta would spend less on capex. Their future growth plans would be tapered in a little bit. They'd continue to spend, but it would be at a much slower pace. But yet, their monetization would likely not slow down at all because Meta has more than enough capacity to continue monetizing their core businesses and continue growing them.
06:16 And that would likely end up with the stock rerating. and Meta stock could easily be rerated. Meta currently trades at a 21 PE ratio. So if we did get this coordinated slowdown, Meta has probably the best setup. It has incredible revenue growth that will continue even with a capex slowdown. The capex slowdown would make the margins and the free cash flow profile improve of the company and it would make investors less concerned about Mark Zuckerberg's willingness to spend endlessly on AI.
06:41 It'd be another third party factor reigning him in. All of these would likely be appreciated by the market, at least in the short term. And there's a lot more benefits that Meta has. In fact, Colossus did an incredible writeup of meta. It's a lengthy one, so I'll just highlight a few things here that show how well Meta is set up right now.
06:57 In fact, one of the arguments that they make, I think, is a very good one. How meta wins either way if AI is commoditized or not. If AI commoditizes, then anthropic and open AI go to zero. Now going to zero is probably a little bit of an exaggeration but theoretically if AI becomes a complete commodity meaning everybody can just use openw weight models for essentially free then anthropic and open AI are worth dramatically less money they're not able to monetize and value would acrue instead to the complements of meta the stuff that they already
07:26 dominate like distribution attention personalization and commerce if AI doesn't commoditize which is a real possibility then at least he is not in his competitor's prison the same way that Apple's been. Apple has no AI for themselves. They're just reliant on other people. They are dependent on AI eventually commoditizing.
07:44 And all he has to do is remain within 6 months of the frontier, which he's already close to. Heads, he wins, tails, he wins. Many people view Mark Zuckerberg's approach to this is aggressive and unwieldy. He's like unpredictable. He's going out and spending so much money that he's just crazy.
08:01 And that's a danger or risk in the stock. But if you actually look at it this way, what Mark Zuckerberg's doing has reduced risk in Meta. It's made the investor more safe in their future earnings. He's made it so that if AI becomes commoditized, all of that acrru to Meta's already huge formidable businesses. There'll be more shopping, more commerce, more people using advertisements on Meta.
08:22 And if it doesn't commoditize, well, he has his own AI. Either way, he has further insulated the future of meta and reduced risk in the process. There's also the factor of how Zuckerberg even looks at AI. For example, Daario and Sam have continually warned about the doom of AI, saying it's going to take your jobs. Half of all new jobs from college graduates are going to go to AI.
08:42 Well, aside from the fact that that really hasn't happened yet, the unemployment rate has continually gone down. There's other ways in which anthropic and open AI have been doomerish. They've talked not just about jobs going away, but Daario specifically has talked continually about the bare cases, the edge cases of AI, the cases where it can hack things and create bioweapons.
09:02 We hear these narratives all over the place. There's little focus on the upside of it. How it can help humanity. How it can further individuals. AI has asymmetric risks. It does have downside risks, but it has dramatically more use cases and positive benefits for society. And Mark Zuckerberg has been one of the few leaders to actually highlight those upsides.
09:22 For example, it says here that AI is not in fact God. Instead, it does math and solves a limited set of problems humans face and is otherwise simply useful and cool. Anthropic and to a lesser extent, open AI have trouble ever accepting this fact. Zuckerberg does not. Zuckerberg does not think he's a god wielding AI. He hasn't viewed it that way.
09:44 He's just viewed it as a thing that can really help people out. Daario and Sam have a god complex. They truly believe that they've unlocked this magic vault of technology that will destroy all humanity unless they stop it. And it's normal for people in great leadership positions to start to view themselves as a little bit more powerful than they actually are or a little bit more important than they actually are.
10:03 And we see that especially with Daario. For Zuckerberg, that's not the case. He's never talked about AI this way. He has not spent a decade comparing his company to the Manhattan project. We have people like Daario and Sam always hinting at this that AI is like the Manhattan Project, which it isn't. It's not at all.
10:25 The Manhattan Project was explicitly a weapons producing project. The US government during a time of the biggest war the world has ever known put together a team of brilliant physicists and theoretical physicists to create a nuclear bomb, something that could blow up a city. That was the specific goal of it. They weren't creating nuclear power.
10:43 They weren't trying to power the grid or create beneficial technology or technology that helped make the earth more green. That was never literally ever part of the goal. So when people compare AI to the Manhattan project, it is a complete false comparison. One of them is technology by private companies specifically created to benefit humanity to better our understanding of healthcare and therapies to make it so that we can enhance productivity and processes and business.
11:09 The last thing any of these labs want are destructive actions. The Manhattan project is the exact opposite. The only thing that they wanted to create was something that could destroy. So these comparisons are not valid. No, AI could more readily be compared to the internet. The internet was another project that was created as a general platform of technology.
11:27 They had both good uses and bad uses. And like AI, the internet has dramatically more good uses than bad uses. That's not to downplay the bad things that happen on the internet. I'm sure you can highlight many of those, but the internet is a revolutionary and great technology for people and AI is the same.
11:45 It is a mistake for anthropic or anyone to compare AI to the Manhattan project. They have explicitly different goals and different motivations. Now, Zuckerberg hasn't done that. To his credit, he has not been doomerish about AI. Zuckerberg's goal is to make it so it's easier for people to book airline tickets, make dinner reservations, and edit photos.
12:06 He will use AI to drive down the cost of serving his users to zero and thus to drive up his revenue by improving ads. He will use cash from his ad business and his ownership of data centers, chips, and infrastructure that Anthropic and OpenAI have to pay to rent to undercut them on price. And the potential install base, the 3.
12:24 6 billion people that use Meta products every single day, they don't care whether or not the AI model is within 6 months of the frontier. They just care that they can get their dinner reservation booked or their photo edited. Mark Zuckerberg is giving people exactly what they want. And he's giving them the best part of AI without all the fear.
12:42 And Mark Zuckerberg is doing this through a new meta app called Muse. Now Muse was a model. So you don't want to confuse it with the model. It's also now an app which is an agentic AI assistant. So you download the meta app and then you see this guy right here. It's this small whimsical cream colored.
12:59 It looks like a little plushy type of toy. And he's the one that is Muse. That's his name. And you can rename him if you want. So you don't have to stick with the name Muse, but he's like your agentic assistant. So now everybody has a nice little agentic assistant that will help them do any little task they want.
13:13 So you see him first and he kind of greets you and explains how to use it. But then you have connectors. And this is where things get interesting. You can connect like your Gmail, your calendar. You can connect Open Table. This is something I did. I asked if it could really do dinner reservations and it says yes.
13:30 I can connect to Open Table and then I can book any reservation there. I'll just fill out your information, book it, and then tell you or I'll have you confirm it before I book it. But it can also book reservations at restaurants, not even on Open Table with no integration. And what it basically does is if you search a restaurant and you decide you want to book it, it'll go onto that restaurant's website. It'll fill out the forms.
13:51 It'll have a final confirmation that it presents to you. Then you can hit yes, book, and then it will book it for you and confirm that it was booked. So, it really is like a little agentic assistant. You type through the interface and it goes out and does things for you. It can also apparently go through your Gmail and unsubscribe from all your spam.
14:08 It can go through your Google documents. It can help with all that stuff. It can shop for you, which is one of the biggest use cases for it. For example, you can put in that you want the specific pair of shoes or the specific item that you're looking for, and you'll see it open up a browser and literally search the internet for like 10 minutes looking for that item, sourcing coupon codes and different websites and different deals.
14:31 It'll try to find you the best deal possible specifically for the item you're looking for. You type in one command, it works for 10 to 15 minutes. That is Agentic technology. And then it integrates with Stripe or different checkout systems. So you don't even need to go to the checkout. It'll automatically fill out all your information, make sure it's all correct, and it will buy the item for you and then track it for you.
14:51 So consider the dynamic here. The guys at Anthropic and OpenAI are warning about the death of humanity. Meanwhile, Zuckerberg is creating the most relevant products in people's minds that help them solve all the annoyances that AI really should help people solve. Booking restaurants and editing photos and shopping for the best deals online, those are true consumer use cases that they're now entering into.
15:13 And so far, this has received incredibly good results. It's fairly new, but it's in the app store right now with 4.9 stars and 3,800 ratings. So, it has a ways to go, but even the initial impressions so far are incredibly bullish. People really like it. And one thing that Meta can do is continually push it out to more and more people.
15:31 They made even secondhand websites like Threads have hundreds of millions of daily active users. They'll be able to do the same thing with this app so long as it really captures all these agentic use cases for individuals. Another aspect of why Meta is such a strong candidate of being a company that would benefit in this slowdown.
15:48 Meta in general is a company that has always pivoted with every transition. Mark Zuckerberg doesn't get a lot of credit for this, but it's actually been incredible to see what they've been able to do. If we look at a quick history here, after every period, Zuckerberg somehow managed not only to survive, but emerge with a strengthened position, having conquered more than he previously held.
16:08 By the end of 2013, he built one of the two most profitable mobile ad businesses in the world. By the end of 2017, he crushed Snapchat by copying its killer innovation with Instagram stories. By the end of 2020, the widely predicted death of Facebook was revealed as a fantasy as the number of daily active users has grown during each quarter of political scandal.
16:26 Advertisers never left and Facebook paid the FTC 5 billion privacy settlement. By the end of 2025, he survived the Tik Tok threat by cloning it with reals. He circumvented Apple's AT, the app tracking transparency that was a massive threat to Facebook. He circumvented it by rebuilding targeted ads with large AI models.
16:49 He beat the FTC's attempt to break up the company, which the agency has appealed and saved cash by weathering mass layoffs. While Meta hit a record market cap of nearly $2 trillion, he done it while refusing investors demands to cut Reality Labs division, where the metaverse lived. This revisionist history that Mark Zuckerberg is not a good capital allocator because he's spending a lot of money on AI is not only ridiculous, but it's wrong on the surface.
17:14 Look at how he's pivoted his business and where he's put capital before. Every single time the business has grown dramatically. You can highlight any mistake from any company, but that does not prove that they're a bad capital allocator. And one thing that a study of Meta's history actually shows is that Meta is long-term focused.
17:32 Mark Zuckerberg isn't trying to harvest meta. He's not there trying to get as much cash out of it as he can. He's trying to compete for the future. He's still in growth mode. He has no interest in milking Meta for whatever it's worth and then handing it off to the next investor after he builds his island or whatever he wants to do. Mark Zuckerberg is highly competitive.
17:52 He's still in it. He says himself, quote, "I'm not slowing down." Every single day, he's focused on the company and growing it for the future. You can see this in the way that he will dramatically pivot the business even at the dismay of short-term focused investors. When Meta realized that they were behind an AI and Mark Zuckerberg realized that this was a very pressing matter, look at how fast he made changes.
18:17 Thus, in the first board meeting after the release of Llama 4, he announced a plan of a regime change. The 11 weeks that followed demonstrated the sheer power of his position as the undisposable head of a galactically resourcerich empire. He subsumed fair into a new organization. He called it meta super intelligence, MSL, and reset the market compensation for top AI recruiters to hundreds of millions or billions of dollars per head.
18:41 Now, not mentioned here is that not only was he paying them hundreds of millions of dollars, Mark Zuckerberg himself was on the phone calling these AI researchers. Some of them thought it was like a fake call or a scam call because it was someone saying, "Hey, I'm Mark Zuckerberg. I own Meta. I want you to come work for me.
18:58 Some of them really couldn't believe it. He paid $ 14.3 billion for stake and scale AI and installed its founder, Alex Wing, as Meta's head of AI, who by the way, Alex Wing is every single day on X talking about the AI developments, trash talking competitors. He is at the forefront of this every single day. He's not slowing down at all.
19:20 This is to him the biggest race that he could be in and Mark Zuckerberg has given him every resource to continue. He recruited the chatbt co-creator Shangjaya Zhao from former GitHub chief Nat Friedman, the safe super intelligence co-founder Daniel Gross and picked off a dozen of other defectors from OpenAI, Anthropic and Google DeepMind.
19:37 He cut hundreds of employees from the older organizations. Within one quarter, MSL was up and running. The speed at which Meta radically altered their organizational structure and built a super intelligence lab to now directly compete within six months of the top AI models is record time. In fact, I've never seen a company this big be able to change route that quickly.
19:58 If you're simply just a CEO working at a company, you can't make these type of bold calls. But Zuckerberg can because he's not just the CEO of Meta. He is the owner. He is the outright voter. He has the controlling shares. What Mark Zuckerberg says is what goes. And what he says is he's going to be a leader in AI and he's not going to talk about the doomsday of it.
20:15 In fact, he's going to do the opposite and talk about how it's going to be highly beneficial for his 3.6 billion users. In a coordinated slowdown, Meta will have a better balance sheet, more free cash flow, and they'll still be able to develop highly applicable technology to the huge majority of their users.
20:32 Now, again, I think that Meta will be fine either way. Even if there isn't a coordinated slowdown and Meta continues on their path, they're making incredible progress. And I believe that Daario knows companies like Meta are going to soon catch up. And that's why he's trying to slow them down. And that's where I want to get into the next phase of this, which is the motivations of Daario in writing this whole article.
20:50 We must pace the frontier. When we look at the messaging from Daario and what he's actually doing, his intentions become a little clearer. Let's go and take a look at an interview here first. This is one that he went on after Jacob Coxin went on and said that AI could eviscerate humanity.
21:06 It could annihilate humans. This is how Daario responded to that employee. Watch. >> I agree with Jacob much more than I disagree with him, and it's an interesting resignation because when he left, he said, I think Anthropic is the most responsible player, right? I think Anthropic is the most aware of these issues.
21:27 So, he doesn't come on and say that former Anthropic employee is exaggerating or fair-mongering. In fact, he says just the opposite. He says that I agree with him more than I disagree with him. and he phrases it that we have two paths to go down. The regulatory path where we slow down everything that's the safe one or we have the highly risky one which we're going down right now.
21:45 Now this has caused a huge flurry. He added more fuel to the fire and even people like Matt Damon now are getting asked about AI safety. >> People are losing sleep over this AI like whistleblower. What do you think man? You think you >> you think about >> you are you worried about this this like the fate of humanity here? Yeah.
22:05 >> Even Odysius is worried about the fate of humanity as well. Now along with those interviews where he continually fan the flames, he also wrote this write up before writing 10 pages about doom and gloom from AI. It just is page after page of how dangerous AI is. He feels that it's obligatory to add in the potential benefits.
22:22 He says that he's worked in AI for the last 12 years. that he believes AI could cure most major diseases in the next 5 to 10 years. So there's one sentence right at the beginning of this where he literally says AI could cure most diseases within half a decade. And now he's going to argue why we should pace AI development, why we should slow down.
22:43 Think about how dangerous the technology has to be when the benefit is that literally most diseases will be cured in 5 to 10 years. You're sacrificing all the people that will die of those diseases if you slow it down. Because if you slow it down, it's not going to be cured within 5 to 10 years. That'll be pushed back.
22:58 The pace of our understanding of disease and remedy will also be slowed. So all those people that would have survived because they're only getting diseases in 5 to 10 years, now they're not going to survive because they'll have to wait 10 to 15 years. And people die of disease every single year.
23:14 So he believes that it's going to cure disease. It's going to accelerate economic growth. It's going to create a world of abundance and empowerment and usher a renaissance of democracy and freedom. But like many technologies before it, AI brings risks. And because it is such a powerful technology, these risks are serious. Now, the way that Daario tries to illustrate the dangerousness of AI generally to everyone is by referencing the same story that has been overly exaggerated and taken out of context many times. The OpenAI hugging face
23:40 incident in which a swarm of agents essentially acted as a fanatically devoted collective conducting cyber security attacks on targets they were not asked to attack and they were unrelated to the task at hand. But the thing that he's leaving out here is that these agents were given unprecedented level of access, terminal access, huge amounts of leeway, and essentially no monitoring.
24:01 Of course, if you create any type of powerful computer system, you tell it to go do something, and then you don't look at it once, that's not a good situation. You're going to have bad outcomes. This is a containment issue more than AI being sentient or out of control or dangerous in almost any normal circumstance. Yet, this is the story that continually gets highlighted.
24:18 So Daario uses that as the pretext to now argue for more AI regulation. Now the interesting thing is is that Daario and OpenAI acknowledge that they are the leaders. They are the frontier. But the problem is they can't just slow down their models and their spending on AI and their training because they know that they have Meta's Muse and Gemini nipping at their heels.
24:40 They have XAI right behind them. So if they slow down for safety reasons and these competitors don't slow down, then the gap between these companies will reduce. They will lose their advantage, their competitive advantage. He specifically references that he wants to have a slowdown, a coordinated pacing that won't sacrifice commercial advantage.
25:00 So Dario wants to have the best of both worlds. He wants to remain on the frontier ahead of everyone else, but he also wants to slow things down. He doesn't want to just slow them down for him. He wants to slow them down for him and everyone else, even the companies that are behind him. Another way of putting this is right now Daario believes that he has models capable of destroying the human civilization within 10 years, but he's not going to slow down progress unless others slow down their models that are even behind him. He is more willing to
25:28 preserve the competitive advantages of his model than to make it safe and slow down willingly, even if others don't do it. Does that sound sincere, Daario? If you are really concerned about humanity, if you really thought that your models are so powerful that they really represent a real risk to humanity, then why do you have to have others slow down? Why don't you just slow down? You're the one responsible for your company.
25:55 You're the owner, the CEO, the person in control. You could slow down your models. In fact, you could do this easily without an act of Congress, no legislation, no giving big government entities a hand in everything that's going on. You could slow down the pacing of your models and these most dangerous models that you see tomorrow.
26:11 It'd be very easy for you to do. Well, you're not doing that. And there's a reason why. See, Anthropic is in an interesting situation. Anthropic already has the lead technologically. They have a big lead over other companies. OpenAI, I would say, is very close. They're neck andneck, but Anthropic and OpenAI lead the rest of the pack.
26:28 Gemini has fallen way behind. Muse is catching up fast, but it's still 6 months or plus behind. And so Anthropic is in a different situation. They've already spent half a trillion dollars in commitment to build AI. They already have the most powerful models and they've promised their investors profitability, especially before IPOing.
26:46 In fact, from the Financial Times, it says that Anthropic has told investors it will be profitable for the second straight quarter. So, we have a company that has been burning cash for years, pouring mountains of money. In fact, Anthropic has reportedly over half a trillion dollars in spending commitments for AI.
27:07 They've spent like no one else on artificial intelligence. All of this to get to the lead to have the biggest models. They have the most sophisticated technology. And now that they are at the lead, continuing to spend on AI is becoming more and more expensive. They have to train bigger models. They have to keep running these GPUs.
27:23 They have to keep paying Nvidia over and over again at a time point where they already have market share dominance. They already have all the customers using them. All the Fortune 500 companies, everybody's plugged into Claude Code and Anthropics products left, right, and center. What they're focused on now is monetization.
27:41 They've gotten past the curve of building up their empire. Now Daario sees it as they're at a nice comfortable king's position, the very top of the food chain. Well, what do companies do when they get into a position of market dominance and they're focused on monetization, on making profits? They want to reduce costs.
28:00 Anthropic and OpenAI have a very big incentive to reduce costs. They don't want to keep paying hundreds of billions of dollars for training. They would love to slow that down because they want to be profitable quarter after quarter. Now, they're at a point where they owe so many people so many agreements.
28:16 Think about the agreements they've made. They're never ending at this point. They need to pay back on those eventually. So Dario is looking at this saying, "Look, we've gotten really big. We have all the market dominance, but we really need to cut back on spending. We have an IPO coming up. We need to show healthy margins, good cash flow. We need to get our house in order.
28:34 How could we slow down our spending and make our financials look better while not having competitors close the gap and catch up to us? If only there was some way, hm, that we could slow down and have everyone else slow down with us. So that we could make our balance sheet and financials look better while not having people catch up to us in technology.
28:57 I wonder if there's some method of doing that. Well, here we have the solution. a coordinated pacing strategy of all the top frontier companies allowing the companies like Open AI and Enthropic to slow down, bolster up their balance sheet, make their cash flows look better for their upcoming IPOs, while also slowing down all the competitors that are not in the same technological sphere as them. This is the perfect solution.
29:22 Daario essentially wants to spend $500 billion dollars on training the most powerful AI in the world, getting to world and market dominance in AI. And then he wants to turn around and say, "Hey, all of you, you got to slow down. You really got to slow down. It's dangerous for all of you to keep spending on AI.
29:39 " And now that we have world dominance, we'll slow down, too. We'll be the responsible ones. See how responsible we're being? And if this gets granted, if Daario does get his wish, then they will be the duopoly that controls the world and AI, the regulatory capture will be complete. Every other company trying to catch up will be legally prohibited from catching up to OpenAI Anthropic.
30:01 And while they slow down for the benefit of their financials, other companies will have to slow down and competing against them. Even if Daario's concerns about AI are sincere and some of them are real, that doesn't matter. It's completely irrelevant. What he's asking the industry to do and what the government to do, what Daario's really asking, disproportionately benefits anthropic in their current situation while disadvantaging every wouldbe competitor.
30:27 This is very convenient timing for Daario to make it so that they will take a breather and slow down right as they're exhausting all of their spend. They have way too many commitments. They've spent way too much. They need to slow down anyways. That's what Daario is not telling you. They don't need to keep spending hundreds of billions of dollars every single quarter on AI.
30:46 It's too much. Meanwhile, they're not just asking for them to slow down. They're asking for companies like Meta to slow down. Meta is in a very different situation. Meta is flush with cash. Meta is a economic cash printing machine. Zuckerberg can fund the growth of AI endlessly. And Daario knows that. So Daario is asking for a competitor that has lots of cash to slow down on spending while Anthropic, which is short on cash, needs to slow down anyway.
31:12 And he does this under the guise of safety, knowing full well if he's concerned about safety, he can slow down his models training at any time. But of course, he doesn't want to do that because he knows other companies will catch up. So my hope is that people can see through this. this blatant attempt at creating a duopoly, a couple companies that sit at the top that restrict everyone else from being able to compete, doing so at the perfect timing of their IPOs when they're trying to improve their profitability
31:36 while still disadvantaging other companies. It is blatantly obvious to anyone paying attention. Now, let's go ahead and move on to the fail of the week. In this week's fail of the week, I have to highlight Hunter Biden. It's not really anything to do with politics this time. I'm sorry.
31:51 I don't really pay attention to what he's up to. I don't even know what Hunter Biden's political stances are, but it's more to do with another cryptocoin. Now, when I saw this news, I thought, are we still doing this? Are really crypto coins still a thing? I thought we Aren't we past this? Are we still doing the crypto meme coins? Apparently, we are.
32:08 Apparently, there's a whole group of people out there still trying to do the scammy crypto coins. And we hear another story here. So, we have the Hunter Biden's laptop cryptocoin crash minutes after launch. This is one of the headlines that's supposed to be shocking, but it's just utterly predictable. Oh my goodness.
32:27 A cryptocoin of Hunter Biden's laptop crashed only minutes after release. I'm shocked. I'm completely shocked. What a headline. I could have never guessed a memecoin like this would crash in only minutes. Earlier this week, the younger Biden had touted the long launch of his laptop memecoin, saying it was a way to reclaim a symbol that had defined news coverage about him when his father was president.
32:47 He also suggested that the memecoin would be for building communities, benefiting charity, and helping those who had quote lost money on the Trump grift. So, he's making fun of it. He's a big critic of the Trump memecoin. I am as well. That's another fail of the week. But instead of making fun of it and then not creating your own memecoin, he thought, I'm going to make fun of Trump's memecoin, but try to profit the exact same way. That was the logic here.
33:12 I'm going to call it a grift what he's doing, but I'm going to do the exact same thing, just I'm going to execute it a little bit worse. So, he tries creating his own grifting memecoin just like the Trump one. In this case, it didn't go as well for Biden. It says instead, the value of Biden's memecoin plummeted from highs of around 190 per token to less than $2 per token and about 80% of traders who bought Biden's cryptocurrency token Wednesday lost money according to the blockchain analytic platform. So 80%
33:41 lost money within 2 minutes. That's really building the community. Making it so that 80% of the people involved in your thing lose all their money within 2 minutes. That's really community building. That's really charity right there. Lots of charity going on right there. But 726 traders lost between 1,000 and 10,000.
34:01 Another 112 lost between 10,000 and 100,000. So hundreds of people over a 100 lost over 10 grand. and two are down between a h 100,000 and 1 million. Now, there's an attempt to feel bad for these people, these traders, these people, these investors in the memecoin that lost over $100,000. I don't at all. Not even a tiny bit. Not even a fraction.
34:23 I have exactly zero care or feelings of empathy. For all you people that got rugpulled on the Biden laptop memecoin, this is one of the cases where you know 100% what you're getting into. You are getting into a complete scam. you're trying to rip off other people and you got ripped off. So, congrats on that. Zero tears shed by me.
34:42 The other side of the trade was far more concentrated. Just 10 wallets made between a 100,000 and 1 million while another 70 earned between 10,000 and 100. So, we have a small tiny group of people that got ahead of the others made money, which is usually how these work. You have a tiny fraction that makes a bunch of money by taking the money from the other people that were dumb enough to go into something like this.
35:04 There's a lot of failure going on in this fail of the week. There are layers to this, layers of failing. You have Trump creating the memecoin craze at the beginning, monetizing it from the presidency, which is a huge fail. You have Hunter Biden now trying to criticize Trump for doing that and then doing the same thing, but doing it worse.
35:22 Doing the same thing is a big fail, but then doing it worse than Trump is even a bigger fail. And then you have the people involved in this. All of them getting into this. Why are you buying this? It's another fail. So, it just continues to go down the entire list. That's going to be it for this episode. Hope you enjoyed.