Elon gets paid, Apple's AI pop, OpenAI revenue rip, Macro debate & Inside Trump Fundraiser

I can see like a couple years from now, all these big enterprises are going to figure the same thing out, and then you're not necessarily going to need to pay for the ChatGPT stuff if there's an internal tool and an internal LLM that you can run.

But now it seems like a lot of value might actually get captured by hardware companies in all points in the value stack. So it's an interesting moment. And I think that this just shines a light on that trend that I think is going to play out over the next couple of years.

If they award these lawyers billions of dollars, which is what they're seeking, no one's going to want to do business in Delaware anymore.

The last company I started, AD90, we incorporated in Nevada. And I just redomisal a couple of other companies that I own into Nevada as well.

It's becoming a trend. We're having very big discussions about this in the startup community of where to domisal your company.

the other LLMs are catching up. If Gemini ever gets good enough or when Grok gets to the next level, am I going to stick with that $20 a month plan? I'm not sure.

the traffic in the United States is down about 25, 26% since the end of the school year, which I think reinforces this belief that ChatGPT has definitely over indexed in that young people's cohort

The thing to keep in mind is that I still haven't seen enterprises building production level products using AI.

we're in the AI dial-up era, to use an analogy here. Hey, you can see the promise, but it kind of sucks in terms of reliability.

as they've always said, we can't do this because it would jeopardize user privacy and user security. Well, here they are opening themselves up to OpenAI in a very deep and fundamental way

Now they're backing this guy for his policies on war, immigration, crypto and more. This election is referendum on those issues.

it's very clear that he was pro-innovation. So he was really supportive of AI in the details that he talked about. He was very supportive of crypto in those details. And he's very much low regulation, low taxation.

And what's interesting is that we have finally burned through, and this is what this picture shows, all of the money that folks had in their bank accounts.

The way executive comp typically works at the board level at public companies is you hire these comp consultants and the comp consultants come in and they use comparables, which basically means let's do what everyone else does.

I think there was some chance that if they were nagged that Elon could leave the company, and I still think he's absolutely vital to all the innovation that's going to come in the future from Tesla.

On the back of like two stocks. I mean, NVIDIA is holding up the whole market.

And having all this local data is a huge advantage for Apple. They've got your messages, your phone, your calendar, your photos, your app behavior, the data inside of your wallet. All of this gives them a huge, huge advantage.

And I think this means that Apple is going to win the AI consumer.

So if you just look at it sequentially, it's a little disappointing in that sense because for a company this big, it's really not much of anything.

the market definitely thinks so because Apple was up big on this news. And even if it was largely vaporware at this point, the market definitely liked where they were going.

So the economy is only growing by 1.3% and it costs more than 3% more each year to buy stuff.

So I think what we're starting to see is that for the large portion of the economy, we've run out of cash to spend. And as a result, I do think that we are going to see an economic slowing.

So honestly, I think your introduction overstated how positive this news was.

Yeah, my position is I think he might have already stuck the landing.

you're going to get demolished if you don't hot swap him. I guarantee you hot swap is coming.

I don't think Biden is going to step down at all

That is true for consumers, that is true for enterprises, and it is true for the federal government.

You had 1.3% GDP growth rate with a 6% of GDP deficit by the government.

So I think unemployment is going back up. I think GDP is going to shrink. And so I kind of tend to be in this camp that we're going to see more than one rate cut.

So I think he's going to be more concerned about airing on the side of tamping down inflation than airing on the side of the economy not doing as well.

So you're going to lose the election and Biden's going to get demolished.

There are people who don't like Trump, and that drives some support for Biden. But if you look at enthusiasm and excitement, it's all on the Trump side.