In the Loop AI

We discuss the fast-changing AI model landscape and how users are increasingly choosing models based on cost, convenience, and specific tasks. 

We compare major closed and open-source models, outline which tools work best for coding, writing, real-time use, and image generation, and discuss how memory and context affect enterprise and power-user workflows.

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TIMESTAMPS

0:00 Frontier Model Overload
1:09 Open Source vs Closed
3:20 Ranking Model Intelligence
5:41 Pricing Changes Everything
9:43 Cheap Models and Compute
11:14 Google and Grok Use Cases
15:30 Best Subscriptions For Most
17:41 Picking Models by Task
19:43 Agents and Knowledge Work
22:27 What Comes Next
24:50 Apple’s AI Wildcard
26:03 Final Model Recommendations

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We discuss two major AI infrastructure moves: Stripe’s reported multibillion-dollar acquisition of OpenRouter, and Cursor’s launch of Origin as a GitHub alternative. 

We cover OpenRouter’s model aggregation and routing business, Stripe’s interest in AI payments and agentic microtransactions, and how the deal fits into the growing importance of the middle layer in AI. 

We also look at Origin’s focus on code hosting for AI agents and the broader shift toward infrastructure built for high-throughput automation.

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TIMESTAMPS

0:00 Stripe Buys OpenRouter
6:22 Agentic Payments
7:27 Inference Becomes the Moat
9:05 Alex Atallah’s Exit
11:27 The Routing Wars
14:22 Cursor Challenges GitHub
20:29 Microsoft’s AI Problem
22:19 The New AI Stack

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Today we review major 13F filings and what they show about positioning across the AI stack, including memory, chips, power, and infrastructure. We highlight concentrated bets in names like SanDisk, Micron, and Alphabet, along with broader exposure to NVIDIA, TSMC, SpaceX, and related infrastructure plays.

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TIMESTAMPS

0:00 AI Money Stacks
2:51 Memory Theses
5:02 Buffett Bets on Google
10:19 The Infrastructure Layer
19:48 Payments and AI Rails
21:21 Consensus Winners Emerge
24:53 Power, Memory, Neoclouds
27:10 Closing

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

This week we discuss Grok 4.6, GrokBot, and DeepSeek V4 Pro, along with the implications of their benchmark results and capabilities. 

We also cover neocloud earnings, Intel’s $20 billion capital raise, an EU AI watermarking rule, the LA Lakers sale, and Brad Lightcap’s departure from OpenAI.

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TIMESTAMPS

0:00 Grok 4.6
7:08 GrokBot
12:31 DeepSeek
15:08 AI Cloud Earnings
19:46 Intel CapEx
22:57 AI Watermarks
25:15 Lakers Sold
28:00 OpenAI Leadership

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

We unpack the massive $500 billion financing commitment tied to NVIDIA GPUs. Does this represent a new financing structure or a circular trade?

We also cover the risks around AI demand, GPU pricing, and whether this approach could reshape how AI infrastructure is funded.

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TIMESTAMPS

0:00 AI Bubble or New Asset Class
2:09 Jensen Orchestrates the $500B Deal
3:17 How the GPU Financing Works
9:38 Where the Money Comes From
11:32 GPUs vs Mortgage-Backed Securities
14:04 Why Supply Still Looks Tight
19:28 Agents Drive Near-Term Demand
20:36 The Bear Case Risks
22:50 Tracking the Real Warning Signs
25:01 Why the Bull Case Still Holds
28:52 NVIDIA and the GPU Future

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

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Let's unpack Meta’s return to open source AI and its latest laptop-compatible model, Muse Glimmer.

Alongside its focus on cheaper, private on-device inference, we cover Meta’s broader AI strategy, including personalization, compute spending, competition on price, and its AI glasses and hardware efforts.

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TIMESTAMPS

0:00 Meta’s Open-Source Pivot
1:43 Why Local AI Matters
5:02 Meta’s Model Strategy
6:39 Zuck’s Open-Weight Thesis
10:43 Flooding the AI Market
13:00 Ads, Data, and Free AI
15:34 Cheaper Models Take Hold
18:41 The Earnings and CapEx Bet
20:33 Compute Is the Real Moat
22:24 What If Meta Fails?
23:48 Meta’s Bigger AI Vision

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

With three AI cyber incidents involving a gym booking exploit, an OpenAI model reportedly coordinating through hidden channels, and Anthropic’s Mythos 5 allegedly attempting a supply chain attack, we need to discuss how autonomous agents can find and exploit security flaws faster than humans can respond. The AI security era is here.

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TIMESTAMPS

0:00 AI Cyberattacks Overview
0:51 Gym Booking Exploit
4:55 Hugging Face Breach
11:39 AI Swarms and Alignment
20:55 Mythos 5 Supply Chain
25:18 Defending Against Agent Swarms
28:26 Closing Thoughts

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

This week, we cover major leadership changes at Google’s AI teams, including Demis Hassabis stepping back and Jeff Dean leaving to start Discovery Loop, an AI company focused on scientific research. 

We also discuss AI safety issues involving frontier models, plus Meta’s new coding model and its strategy around efficiency.

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TIMESTAMPS

0:00 DeepMind Leadership Shift
3:20 Jeff Dean’s New Startup
6:05 Automated Research Ambitions
10:08 Agent Breakouts
13:06 OpenAI’s Hidden Incident
18:11 Meta’s Cheap Coding Model
22:55 OpenAI Versus Apple
25:42 DeepSeek
28:28 Mind Control Interfaces
30:40 Nikita Bier Departs X

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Space just dropped it's first earnings report, showing strong Starlink growth and the company’s expanding role in AI compute and infrastructure.

In the context of heavy capital spending, the NVIDIA partnership, and share unlocks, short-term volatility is anything but an absolute guarantee. Our main concern though: what does the real, long-term future look like?

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TIMESTAMPS

0:00 SpaceX Earnings
4:48 Unlocks and Pressure
6:00 Data Center Economics
7:57 GPU Demand Explodes
12:13 Gigawatts
14:42 Training the Next Generation
17:09 Starlink
22:33 We Try to be Bears
23:36 Cautious Bulls
28:44 Repricing Risk
29:56 Closing

------
RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Leopold Aschenbrenner’s massive liquidation event followed heavy leverage and losses in its AI infrastructure bets. Today, we discuss the July timeline, the sale of the public equity book to Citadel, and the remaining Anthropic stake.

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TIMESTAMPS

0:00 Leopold’s Rise and Fall
2:41 The Unraveling Begins
4:14 Margin Calls and Liquidation
7:03 Citadel Swoops In
9:13 Hunting the Position
10:19 Aftermath
11:25 Anthropic Saves the Fund
13:44 Ken Griffin's History
16:30 Was Leopold Right?
18:41 Bear Case
21:21 Recursive Self-Improvement
22:25 Ledger
23:24 Leverage Lessons
23:59 Closing

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RESOURCES

Josh: https://x.com/JoshKale

Ejaaz: https://x.com/cryptopunk7213

------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠

Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.