(0:00) The Besties welcome John and Patrick Collison!

(4:28) Stripe's business evolution: $1T in volume/year, stablecoins, challenging the Visa/Mastercard duopoly, publishing economic indicators

(20:31) Jamie Dimon's leaked rant on remote work and bureaucracy

(34:22) DOGE for Defense: Trump ordered the Pentagon to look at cutting the defense budget by 8%/year over the next five years

(43:51) Crypto Corner: Milei's Memecoin embarrassment

(1:00:18) John and Patrick break down the Arc Institute and its new Evo 2 AI model

(1:18:04) Grok 3 takes the LLM lead, lessons learned from Elon's Colossus scale up

(1:30:22) Science Corner: Asteroid update

(1:35:42) Why Stripe hasn't gone public yet, despite great metrics

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://www.cnbc.com/2024/10/23/stripes-1point1-billion-deal-for-bridge-marks-much-needed-win-for-vc.html

https://x.com/Zigmanfreud/status/1890202488596492620

https://www.coworker.org/petitions/professional-dignity

https://www.bloomberg.com/news/articles/2023-01-03/shopify-ceo-tobi-lutke-tells-employees-to-just-say-no-to-meetings

https://www.washingtonpost.com/national-security/2025/02/19/trump-pentagon-budget-cuts

https://www.amazon.com/Boyd-Fighter-Pilot-Who-Changed/dp/0316796883

https://www.cnn.com/2025/02/16/americas/argentina-milei-libra-cryptocurrency-impeachment-calls-intl-latam/index.html

https://www.cnn.com/2025/02/18/americas/argentina-milei-defends-libra-crypto-tweet-intl-latam/index.html

https://arcinstitute.org

https://blogs.nvidia.com/blog/evo-2-biomolecular-ai

https://artificialanalysis.ai/models/grok-3

https://x.com/GavinSBaker/status/1891721991444447343

https://www.amazon.com/Henry-J-Kaiser-Builder-American/dp/0292742266

https://x.com/AsteroidWatch/status/1892338055354159256

https://x.com/AsteroidWatch/status/1892631907646447746

(0:00) The Besties intro Naval Ravikant!

(9:07) Naval reflects on his thoughtful tweets and reputation

(14:17) Unique views on parenting

(23:20) Sacks joins to talk AI: JD Vance's speech in Paris, Techno-Optimists vs Doomers

(1:11:06) Tariffs and the US economic experiment

(1:21:15) Thomson Reuters wins first major AI copyright decision on behalf of rights holders

(1:35:35) Chamath's dinner with Bryan Johnson, sleep hacks

(1:45:09) Tulsi Gabbard, RFK Jr. confirmed

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://x.com/naval/status/1002103360646823936

https://x.com/CollinRugg/status/1889349078657716680

https://www.whitehouse.gov/presidential-actions/2025/01/removing-barriers-to-american-leadership-in-artificial-intelligence

https://www.cnn.com/2021/06/09/politics/kamala-harris-foreign-trip/index.html

https://www.cnbc.com/2025/02/11/anduril-to-take-over-microsofts-22-billion-us-army-headset-program.html

https://x.com/JDVance/status/1889640434793910659

https://www.youtube.com/watch?v=QCNYhuISzxg

https://www.wired.com/story/thomson-reuters-ai-copyright-lawsuit

https://admin.bakerlaw.com/wp-content/uploads/2023/11/ECF-1-Complaint.pdf

https://www.youtube.com/watch?v=7xTGNNLPyMI

https://polymarket.com/event/which-trump-picks-will-be-confirmed?tid=1739471077488

(0:00) The Besties intro Antonio Gracias!

(3:11) DOGE takes on USAID

(31:44) Sacks breaks in to talk USAID

(34:00) Sacks explains what he's working on: Crypto/AI Frameworks

(46:41) The Democratic Party's shrinking base

(52:33) US Sovereign Wealth Fund + Breaking DOGE/Tax News

(1:09:07) Google to spend $75B on AI buildout in 2025, future of work in the age of AI

(1:23:21) Science Corner: GLP-1 macro study

Follow Antonio:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://en.wikipedia.org/wiki/United_States_Agency_for_International_Development

https://www.wsj.com/opinion/usaid-donald-trump-elon-musk-marco-rubio-state-department-foreign-aid-8d2a1920

https://www.usa.gov/agencies/u-s-agency-for-international-development

https://www.usaspending.gov/agency/agency-for-international-development?fy=2024

https://www.whitehouse.gov/fact-sheets/2025/02/at-usaid-waste-and-abuse-runs-deep

https://www.wsj.com/finance/banks-sell-5-5-billion-of-x-loans-after-investor-interest-surges-4b84f89c

https://www.usaspending.gov

https://www.foxnews.com/media/ex-politico-reporters-reveal-editors-quashed-slow-walked-negative-biden-stories-with-no-explanation

https://www.usaspending.gov/recipient/fa0cefae-7cfb-881d-29c3-1bd39cc6a49e-C/2024

https://www.bbc.co.uk/mediaaction/about/funding

https://www.whitehouse.gov/presidential-actions/2025/01/reevaluating-and-realigning-united-states-foreign-aid

https://x.com/susancrabtree/status/1884034727046226317

https://x.com/elonmusk/status/1886627783138316442

https://www.nbcnews.com/politics/national-security/usaid-security-leaders-removed-refusing-elon-musks-doge-employees-accercna190357

https://x.com/Jason/status/1885082871074886110

https://x.com/anc_aesthetics/status/1886176995433763188

https://x.com/wikileaks/status/1887501752213409919

https://x.com/pm_viktororban/status/1887224829352280505

https://x.com/daily_romania/status/1887883017550430435

https://x.com/kanekoathegreat/status/1887261736618893636

https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology

https://x.com/davidsacks47/status/1886878016183394403

https://www.banking.senate.gov/newsroom/majority/scott-hagerty-lummis-gillibrand-introduce-legislation-to-establish-a-stablecoin-regulatory-framework

https://www.washingtonpost.com/opinions/2025/02/02/rahm-emanuel-democrats-voters-kitchen-table

https://www.whitehouse.gov/presidential-actions/2025/02/a-plan-for-establishing-a-united-states-sovereign-wealth-fund

https://www.americanprogress.org/article/scott-bessents-3-percent-deficit-target-would-require-massive-cuts-to-anti-poverty-programs-and-middle-class-tax-increases

https://abcnews.go.com/US/judge-weigh-block-doge-accessing-treasury-department-records/story?id=118498817

https://en.wikipedia.org/wiki/United_States_DOGE_Service

https://x.com/libsoftiktok/status/1887585824218509380

https://fedscoop.com/wp-content/uploads/sites/5/2025/02/show_temp.pdf

https://www.cnbc.com/2025/02/05/alphabet-shares-fall-7percent-on-revenue-miss-heightened-ai-investments.html

https://abc.xyz/assets/a3/91/6d1950c148fa84c7d699abe05284/2024q4-alphabet-earnings-release.pdf

https://x.com/SawyerMerritt/status/1886899315735507255

https://www.nature.com/articles/s41591-024-03412-w

(0:00) The Besties intro Travis Kalanick!

(2:11) Travis breaks down the future of food and the state of CloudKitchens

(13:34) Sacks breaks in!

(15:38) DeepSeek panic: What's real, training innovation, China, impact on markets and the AI industry

(50:14) US vs China in AI, the Singapore backdoor

(1:01:51) OpenAI reportedly in talks to raise ~$40B with Masa as the lead investor

(1:10:37) DOGE's first 10 days

(1:25:13) Future of Self Driving: Uber, Waymo, Tesla

(1:38:04) Fed holds rates steady, how DOGE can impact rate cuts

(1:44:17) Fatal DC plane crash

Follow Travis:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://github.com/deepseek-ai/DeepSeek-R1/blob/main/DeepSeek_R1.pdf

https://www.tomshardware.com/tech-industry/artificial-intelligence/chinese-company-trained-gpt-4-rival-with-just-2-000-gpus-01-ai-spent-usd3m-compared-to-openais-usd80m-to-usd100m

https://www.cnbc.com/2025/01/27/nvidia-sheds-almost-600-billion-in-market-cap-biggest-drop-ever.html

https://x.com/shrihacker/status/1884414667503853749

https://x.com/balajis/status/1884975064283812270

https://www.fool.com/earnings/call-transcripts/2025/01/29/meta-platforms-meta-q4-2024

earnings-call-transcri

https://x.com/mrexits/status/1885017400308806121

https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-01-28-2025/card/deepseek-s-ai-learned-from-chatgpt-trump-s-ai-czar-says-LoCYvz2Lm0riS0AuEoB5

https://www.wsj.com/tech/ai/why-distillation-has-become-the-scariest-wordfor-ai-companies-aa146ae3

https://techcrunch.com/2024/12/27/why-deepseeks-new-ai-model-thinks-its-chatgpt

https://x.com/rauchg/status/1875627666113740892

https://www.ft.com/content/a0dfedd1-5255-4fa9-8ccc-1fe01de87ea6

https://x.com/satyanadella/status/1883753899255046301

https://en.m.wikipedia.org/wiki/Jevons_paradox

https://x.com/pitdesi/status/1883192498274873513

https://x.com/rihardjarc/status/1884263865703358726

https://x.com/austen/status/1884444298130674000

https://www.cnbc.com/2025/01/30/openai-in-talks-to-raise-up-to-40-billion-at-340-billion-valuation.html

https://x.com/america/status/1884372526144598056

https://x.com/DOGE/status/1884396041786524032

https://fred.stlouisfed.org/series/FYFSD

https://www.whitehouse.gov/presidential-actions/2025/01/establishing-and-implementing-the-presidents-department-of-government-efficiency

https://x.com/Jason/status/1884671945800573018

https://abcnews.go.com/538/trump-starts-term-weak-approval-rating/story?id=118146633

https://www.cnbc.com/2025/01/15/cpi-inflation-december-2024-.html

https://x.com/chamath/status/1885068981905875241

(0:00) Ray Dalio joins Friedberg!

(0:50) The current US fiscal situation

(6:23) Breaking down "The Big Debt Cycle," a potential US debt spiral, and the impact on real wealth

(24:54) USD vs other currencies and assets, best hedges against the dollar

(33:20) Portfolio construction, how China increases risk for US AI companies, why this market reminds Ray of 1998-1999

(41:45) How the US can avoid a debt crisis

(53:29) DOGE, Trump, and AI's greatest risk

(1:05:31) Chances of conflict between the US and China

Follow the Besties:

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Read Part 1 of "How Countries Go Broke":

https://x.com/RayDalio/status/1878840018770210979

Pre-order "How Countries Go Broke":

https://www.amazon.com/Principles-Investment-Economic-Ray-Dalio/dp/1501124064

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://tradingeconomics.com/united-states/government-debt-to-gdp

https://www.crfb.org/press-releases/treasury-confirms-calendar-year-2024-deficit-tops-20-trillion

https://www.cbo.gov/publication/61172

https://www.institutionalinvestor.com/article/2bstne1l09npgdk1s5yww/corner-office/ray-dalio-makes-his-exit-from-bridgewater

https://fred.stlouisfed.org/series/M2SL

https://www.jpmorgan.com/insights/outlook/economic-outlook/fed-meeting-september-2024

https://www.forbes.com/sites/robertfarrington/2024/11/08/fed-cut-interest-rates-so-why-do-mortgage-rates-keep-climbing

https://www.chathamfinancial.com/insights/fomc-recap-december-2024

https://www.cnbc.com/2025/01/14/a-global-bond-sell-off-is-deepening-as-hopes-for-multiple-fed-rate-cuts-fizzle.html

(0:00) The Besties intro Thomas Laffont!

(6:22) Behind the scenes: Inauguration Weekend recap!

(15:58) Biggest takeaways from DC during the Inauguration

(31:38) Trump Executive Action breakdown

(33:39) TikTok's grace period extended, valuing the business, US new equity strategy?

(57:01) Jan 6th pardons, birthright citizenship

(1:09:49) Stargate: $500B AI investment, is Masa the GOAT?, bull case for OpenAI

(1:23:41) How electricity production capacity plays into the global AI race

(1:36:20) Netflix's stock rise correlates with some alarming societal trends

(1:47:40) BREAKING: AI/Crypto Czar David Sacks joins to discuss the President's three new EOs

Follow the besties:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://x.com/dontcallmeraylo/status/1882444994264629402

https://x.com/craigkellyXXX/status/1882170281722339700

https://www.wdsu.com/article/donald-trump-executive-orders-inauguration-parade/63486993

https://www.whitehouse.gov/presidential-actions

https://www.nytimes.com/2025/01/21/us/trump-birthright-citizenship.html

https://constitution.congress.gov/constitution/amendment-14

https://avalon.law.yale.edu/18th_century/fed74.asp

https://x.com/OpenAI/status/1881830103858172059

https://x.com/sama/status/1882106524090482701

https://x.com/GavinSBaker/status/1882081746877063677

https://x.com/elonmusk/status/1881923570458304780

https://x.com/elonmusk/status/1882303826214162580

https://x.com/satyanadella/status/1882340818289307954

https://x.com/GregKamradt/status/1881762305152872654

https://x.com/chamath/status/1881773205498876255

https://x.com/documentingbtc/status/1882530869010989287

https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology

https://www.whitehouse.gov/presidential-actions/2025/01/removing-barriers-to-american-leadership-in-artificial-intelligence

https://www.whitehouse.gov/presidential-actions/2025/01/presidents-council-of-advisors-on-science-and-technology

https://www.goodreads.com/quotes/489251-in-this-age-in-this-country-public-sentiment-is-everything

https://x.com/SpeakerJohnson/status/1882083118032846868

(0:00) House Whip Tom Emmer on Trump's political talent, the Biden conspiracy, taking back the Democratic party, immigration, the role of Whip

(33:53) California Rep. Eric Swalwell on where Democrats went wrong, how to rebrand the party, TikTok ban, and more

(1:08:01) California Rep. Ro Khanna on reforming the Democratic party, Bob Iger as LA Mayor, CA Leadership, TikTok ban

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

(0:00) Besties intro Senator Ted Cruz; history of the "Come and take it" flag

(2:21) Texas vs. California: how to approach building and entrepreneurship

(10:25) Thoughts on immigration, serving in the Senate, over-politicization

(16:55) How to create a bipartisan consensus on immigration, increasing prosperity through opportunity

(23:54) How Sen. Cruz would approach Trump's first two weeks of his second term

(29:02) DOGE's two major challenges, unlimited Congressional terms, ideology over party, the great political flip

(35:22) Trump's strategy on Greenland/Denmark, Panama Canal, and Canada

(42:45) Thoughts on Senate confirmation hearings

Follow the Besties:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

(0:00) The Besties welcome Mark Pincus!

(3:53) Mark's background

(6:02) How Mark got red-pilled for Trump, maintaining friendships despite political differences

(23:21) LA Wildfires update: Newsom's EOs, market impact of price controls

(51:32) Congestion pricing in NYC, fixing broken cities

(1:08:33) TikTok ban: origin and potential outcomes

(1:19:15) MBA hiring downturn

(1:34:37) Conspiracy Corner: Mark's take on UFOs and UAPs!

Follow the Besties:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://www.piratewires.com

https://x.com/micsolana

https://www.athena.com

https://nypost.com/2024/11/04/us-news/tech-billionaire-mark-pincus-reveals-hes-voting-for-trump

https://x.com/TheTechnXMedia/status/1878459564980392410

https://www.gov.ca.gov/wp-content/uploads/2025/01/EO-N-4-25-Rebuilding-Final-signed.pdf

https://www.gov.ca.gov/wp-content/uploads/2025/01/EO-N-7-25-_-Land-Speculation-1.14.25-bl-_GGN-Signed_.pdf

https://x.com/MayorOfLA/status/1878630125786566664

https://congestionreliefzone.mta.info

https://www.nytimes.com/2025/01/13/nyregion/congestion-pricing-nyc.html

https://x.com/friedberg/status/1652334973586915328

https://x.com/markpinc/status/1878575249505333606

https://www.youtube.com/watch?v=T72DfPEBn0A&t=29s

https://www.bloomberg.com/news/articles/2025-01-14/china-discusses-sale-of-tiktok-us-to-musk-as-one-possible-option

https://www.wsj.com/lifestyle/careers/harvard-mba-employment-rate-job-hunt-difficulty-addfc3ec

(0:00) The Besties welcome Cyan Banister!

(9:16) Reacting to the LA wildfires: broken incentives, leadership failures, lessons learned

(36:51) Insurance issues, rebuilding headwinds, reclaiming the government

(59:44) Zuck goes full free speech, fires third-party fact-checkers, opts for Community Notes model

(1:20:19) Nvidia goes consumer at CES: market cap impact, most interesting vertical

(1:34:49) Why Trump wants Greenland

(1:40:05) Conspiracy Corner: Who built the pyramids?

Follow the Besties:

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Intro Music Credit:

https://rb.gy/tppkzl

https://x.com/yung_spielburg

Intro Video Credit:

https://x.com/TheZachEffect

Referenced in the show:

https://www.youtube.com/watch?v=_SQ_myzmV_Q

https://www.cnrfc.noaa.gov/awipsProducts/RNORR4RSA.php

https://x.com/JonVigliotti/status/1877020919475884110

https://x.com/FearedBuck/status/1877355797245514085

https://www.youtube.com/watch?v=vKJ5WeBc7Us

https://x.com/CrazyyHub/status/1823574726738092402

https://www.latimes.com/visuals/photography/la-me-fw-archives-the-1961-bel-air-brush-fire-20170419-story.html

https://www.rainmaker.com

https://www.ksbw.com/article/california-fire-evacuation-maps/63382651

https://x.com/shaunmmaguire/status/1877366727547433382

https://x.com/WorldTimesWT/status/1876887200526111017

https://x.com/ericabbenante/status/1877207054105886836

https://x.com/laurapowellesq/status/1877143625588682940

https://x.com/jeremykauffman/status/1877128641802285064

https://x.com/deb8rr/status/1877539354802876576

https://x.com/Jason/status/1877183155821494513

https://about.fb.com/news/2025/01/meta-more-speech-fewer-mistakes

https://www.americanrhetoric.com/speeches/PDFFiles/Mark-Zuckerberg-Letter-on-Govt-Censorship.pdf

https://x.com/townhallcom/status/1876684277787873397

https://www.wsj.com/tech/ai/nvidia-ceo-pitches-robotics-cars-as-growth-areas-to-consumer-electronics-audience-68905f2d

https://www.nvidia.com/en-us/project-digits

https://polymarket.com/markets/creators/all-in