Invest Like the Best
Patrick O'Shaughnessy in long talks with working investors and founders
1:11:40ChatGPT can rewrite your product, but it can't get a banking license
Nubank's founder argues this is precisely why scaled players capture most AI gains—they've accumulated a decade-plus of data and hold licenses; AI amplifies their edge rather than leveling the playing field.
1:12:28AI companies will ultimately become biotech firms fighting to read and write your brain
Huberman predicts Meta, OpenAI, Anthropic, and Musk's Neuralink will all become biotech companies—the real arms race is non-invasive brain reading and writing, not AI models.
1:26:13Personal agents won't cannibalize business revenue: lower friction drives more transactions
Instinct's founder says that after reducing checkout friction to nearly zero, transaction frequency between users and merchants rose instead of falling—the opposite of the old ad-driven model.
1:04:24In the AI Era, the Most Valuable Thing Isn't Intelligence — It's the Audit Trail
Rogo founder Gabe Stengel says models are already smarter than anyone he knows, and what's left is all plumbing — whoever runs the pipes into banks' compliance and systems of record wins.
1:12:28Sequoia's Former Boss on Reading People: What Happens Before 14 Sets Your Core
After digging into his own refugee family's history, he found that the imprint you unconsciously absorb from your parents before age 12, 13, 14 stays with you for life; what changes afterward is the external intensity, not the core.
1:14:23Making Your Rivals Depend on Your System Is How America Has Won for Three Centuries
The Dutch, the British and the Americans took turns as hegemon not by blockading rivals but by getting them to stake their survival on someone else's maritime order — once they can't live without the sea lanes and the markets, cutting them off becomes the most effective weapon short of war.
59:46The compute bottleneck isn't technology, it's persuading people to accept data centers
An infrastructure lead at a hyperscaler told her nothing can change the picture at sufficient scale before 2030. She thinks this isn't a technology, capability or capitalism problem — it's a regulation and persuasion problem.
1:18:07Background agents will eat 90% of compute, so inference should trade latency for throughput
The next wave of AI inference is not chat but background agents, and they will eat 90% of compute. Sale Research therefore optimizes for throughput rather than latency, and will even accept 80% availability, in exchange for prices that fall by orders of magnitude — and it argues Nvidia's performance-per-watt advantage is overrated.
1:16:16If the US Wins the AI Race, It Becomes More Dangerous: China's Optimal Move Is to Blow Up TSMC
If the US gains overwhelming AI superiority, China's game-theoretic optimal move is to blow up TSMC. Silicon Valley won't admit how badly it underestimates US dependence on Chinese supply chains — and that dependence won't be fixed outside of a conflict.
53:33Intelligence Will Commoditize Like RAM; OpenAI's Real Moat Is Compute
Sam Altman looks back: intelligence itself will commoditize like RAM, and the durable advantage is the ability to make cheaper compute. He also lays out ChatGPT's accidental birth, the Hugging Face security incident, and how the bottleneck keeps moving.