BG2Pod with Brad Gerstner and Bill Gurley

Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, they discuss The Great IPO Debate, Tesla Robotaxi vs. Uber, and a Tech Check. Enjoy another episode of Bg2.

Timestamps:

00:00 Introduction + Eclipse

01:56 The Great IPO Debate

41:33 Tesla Robotaxi vs. Uber

01:10:27 Market Check

Available on Apple, Spotify, www.bg2pod.com

Follow:

Brad Gerstner @altcap https://twitter.com/altcap 

Bill Gurley @bgurley https://twitter.com/bgurley 

BG2 Pod @bg2pod https://twitter.com/BG2Pod

#BillGurley #BradGerstner #Bg2Pod

Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, they discuss the challenge of forecasting the AI Supercycle, Stargate and the massive AI supercomputer build out,  AI demand overhyped or underhyped, and current market valuations. Enjoy another episode of Bg2.

Timestamps:

0:00 Intro

2:49 Demand for Compute Is Virtually Unlimited

27:53 Everywhere we Look we are building more and bigger Supercomputers 

35:49 The AI Induced Power Gap & The Need for Nuclear

50:21 Valuations / Market Check

Available on Apple, Spotify, www.bg2pod.com

Follow:

Brad Gerstner @altcap https://twitter.com/altcap  

Bill Gurley @bgurley https://twitter.com/bgurley 

BG2 Pod @bg2pod https://twitter.com/BG2Pod

Shownotes:

What's next for AI agents ft. LangChain's Harrison Chase: https://www.youtube.com/watch?v=pBBe1pk8hf4

Tesla FSD Model 12: https://twitter.com/bg2pod/status/1769378291658666226?s=46&t=tiuRwY6s_lj81akJSCmJkw Sam Altman: OpenAI, GPT-5, Sora, Board Saga, Elon Musk, Ilya, Power & AGI | Lex Fridman Podcast #419: Sam Altman: OpenAI, GPT-5, Sora, Board Saga, Elon Musk, Ilya, Power & AGI | Lex Fridman Podcast #419

OpenAI CEO on GPT-4 vs GPT-5 | Sam Altman and Lex Fridman: https://www.youtube.com/watch?v=CJEC0aAjRJE 

Jevons Paradox: https://en.wikipedia.org/wiki/Jevons_paradox 

MSFT and OpenAI $100bn supercomputer project: https://twitter.com/theinformation/status/1773798028907811059?s=20

Biden administration on how to generate more electricity to meet massive demand for AI computing: https://twitter.com/axios/status/1774758834952659223?s=20 

Nuclear reactors planned and proposed: https://world-nuclear.org/information-library/current-and-future-generation/plans-for-new-reactors-worldwide.aspx 

U.S. approves $1.5bn loan to restart Michigan nuclear plant: https://www.nytimes.com/2024/03/27/business/energy-environment/holtec-palisades-nuclear-plant-loan.html 

Josh Wolfe?s talk to Congress: https://twitter.com/wolfejosh/status/1685323817521139712 

Our World in Data - cleanest and safest sources of energy: https://ourworldindata.org/safest-sources-of-energy 

How Regulation killed Supersonic: https://www.heritage.org/transportation/commentary/its-time-let-supersonic-flight-soar-again

Natural gas is stronger in the U.S.: https://www.iea.org/commentaries/natural-gas-is-now-stronger-than-ever-in-the-united-states-power-sector 

Baseload in the U.S. has been flat for many years: https://energytransition.nema.org/baseload-generation/ 

Amazon goes nuclear: https://www.theregister.com/2024/03/04/amazon_acquires_cumulus_nuclear_datacenter/ 

I-95 Bridge reopened in 12 days: https://www.bloomberg.com/news/articles/2023-06-28/resurrection-of-i-95-in-just-two-weeks-is-dubbed-small-miracle?embedded-checkout=true 

SF cleaned up in a week: https://www.smh.com.au/world/north-america/sanfran-s-mean-streets-become-clean-streets-for-biden-xi-and-co-20231116-p5ekd0.html 

Texas trumps California as key US energy transition driver:https://www.reuters.com/markets/commodities/texas-trumps-california-key-us-energy-transition-driver-2023-05-04/ 

Brad?s tweet on CT scan: https://twitter.com/altcap/status/1774919531414368402?s=20

Americans favor more nuclear energy: https://www.pewresearch.org/short-reads/2023/08/18/growing-share-of-americans-favor-more-nuclear-power/ 

Producing new nuclear plants have gone down in France and up in the U.S. tweet: https://twitter.com/cremieuxrecueil/status/1773221106591166946?s=46&t=832RL3Gm0XtyDEuhy-Gkzg 

GenAI company revenue multiples tweet: https://twitter.com/asanwal/status/1772821841578754492?s=46&t=832RL3Gm0XtyDEuhy-Gkzg 

Gurley?s tweet on 60x reduction from top model: https://twitter.com/bgurley/status/1774896120310686003?s=20 

Congress provides record funding for fusion energy:https://www.fusionindustryassociation.org/congress-provides-record-funding-for-fusion-energy/ 

#BillGurley #BradGerstner #Bg2Pod

Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, joined by Bob Mylod, (Chair of Board, Bookings.com & Managing Partner of Annox Capital) they discuss stock compensation, Google Gemini / Apple, TikTok US & the New AI Cold War, MSFT / Inflection & VC Valuations for LLM?s. Enjoy another episode of Bg2.

Timestamps:

(0:00) Intro 

(2:07) Bob Mylod | Stock-Based Compensation

(58:03) Apple's Potential Partnership with Google on AI

(1:04:00) Tiktok The Future of TikTok in the US

(01:12:34) Microsoft's Acquisition of Inflection

(01:18:06) The Durability of LLM Business Models

Available on Apple, Spotify, www.bg2pod.com

Follow:

Brad Gerstner @altcap https://twitter.com/altcap 

Bill Gurley @bgurley https://twitter.com/bgurley 
BG2 Pod @bg2pod https://twitter.com/BG2Pod

Shownotes:

Bookings 2023 Notice of Annual Stockholders? Meeting and Proxy Statement June 2023 (page 63 for Stock-Based Compensation Expense as a % of net cash provided by operating activities) https://bit.ly/3ISIauw

Michael Mauboussin - Stock-Based Compensation Paper: https://mgstn.ly/4cshBKn

Tom Hearden Tweet: https://bit.ly/4cqCoxQApoorv

Agarwal Tweet: https://bit.ly/3VumL2G

Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, they discuss Tesla?s Full Self-Driving V12 and imitation learning, AI model improvements: open vs. closed, & more. Enjoy another episode of Bg2.

Timestamps:

(0:00) Intro + Phase Shifts

(3:42)Tesla FSD 12 & Imitation Learning

(28:32) AI Model Improvements | Open vs Closed Models

(49:10) Elon Musk Delaware Court Case

(58:30) Macro Market Outlook

Available on Apple, Spotify, www.bg2pod.com

Follow:

Brad Gerstner @altcap https://twitter.com/altcap 

Bill Gurley @bgurley https://twitter.com/bgurley 

BG2 Pod @bg2pod https://twitter.com/BG2PodShownotes:

#BillGurley #BradGerstner #Bg2Pod

Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week, they discuss earnings, inflation, interest rates, the impact of AI on Big Tech, NVDA, chips, fabs, Altman?s $7T to meet AI Compute needs, & more. Enjoy another episode of Bg2.

Timestamps:

(0:00) Introduction

(3:14) Earnings / Inflation / Rates

(10:16) Impact of AI on Google / Meta

(32:47) Why not also MSFT/Apple/Amazon?

(57:06) Chips, Fabs, Future Compute Needs

Available on Apple, Spotify, www.linktr.ee/bg2pod

Follow:

Brad Gerstner @altcap https://twitter.com/altcap

Bill Gurley @gurley https://twitter.com/bgurley

BG2 Pod @bg2pod https://twitter.com/BG2Pod

Shownotes:

TSMC founder Morris Chang on the evolution of the semiconductor industry

https://youtu.be/r_8XClnnvIk?si=rAylAfxpJa0kHiNv

#BillGurley #BradGerstner #BG2Pod

Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing & capitalism. This week we are joined by Box Co-Founder & CEO, Aaron Levie. They discussed software valuations, public markets earnings, all things AI and legal immigration. Enjoy another Episode of Bg2.

Available on Apple, Spotify, www.linktr.ee/bg2pod

Follow:

Brad Gerstner @altcap https://twitter.com/altcap

Bill Gurley @gurley https://twitter.com/bgurley

Aaron Levie @levie https://twitter.com/levie

BG2 Pod @bg2pod https://twitter.com/BG2Pod

The rumors were true. Enjoy another Episode of Bg2.

____________________________________

(0:00) Introduction and discussion on current market trends

(3:12) Main topic: AI and its recent surge in venture capital investing

(14:04) Discussion on the potential issues in AI companies

(25:00) Analysis of public software valuations and their implications

(33:01) Future of investing in tech companies

(38:27) State of startups and challenges in raising capital

(46:37) Comparing the 1999 bubble to the current economic situation

(54:45) Analyzing Javier Milei's Speech at Davos

(1:01:20) Historical examples of the effects of open and closed economies

(1:09:09) Conclusion and farewell

____________________________________

The acceleration of global GDP per capita over centuries highlights the impact of free market capitalism and innovation on human prosperity.

Venture capital investing and the tech industry play a significant role in driving progress and economic growth through fostering innovation and risk-taking by entrepreneurs.

The current venture capital correction and its impact on startups emphasize the importance of adjusting to market realities, such as valuation and capital availability, for long-term success.

#BillGurley #BradGerstner #BG2pod