Chapter 1: What is the main topic discussed in this episode?
ai cannot survive without crypto it can't survive and the reason it can't survive is because the fiat system financial guardrails cannot handle the speed of ai coming out of a crisis you want to invest in the fastest horse in the race well the fastest horse in the race coming out of this cycle is crypto and this time i don't think it's going to stop because of what ben horowitz talked about and what i said so
Chapter 2: What is the Citrini AI Paper and why is it controversial?
What's going on, guys? In today's conversation with Jordy Visser, we get into the depths of all of the debates going on this week. First, we talk about the Citrini paper and why exactly this viral paper is wrong and we disagree with it. We also talk about what's going on with Block, what's going on with Nvidia earnings.
Chapter 3: How are software stocks being repriced in the current market?
We talk about what's going on with Bitcoin and how Bitcoin, blockchain, crypto is going to have a massive resurgence once we get out of this little sideways action that's going on in the market. Jordy's got some very unique thoughts that even I hadn't heard before.
And so in this week's episode, he's going to unpack what he thinks is happening, why he thinks it's happening, and what you can do in your portfolio to prepare for it. Here's my conversation with Jordy Visser. All right, Jordy, let's start with the Citrini piece.
Chapter 4: Can AI truly replace traditional SaaS companies?
I've seen this described as science fiction. I've seen this described as the scariest thing somebody's read. They basically went to 2028 and they wrote backwards saying, look, this is what happened over the last couple of years. And it described a pretty morbid situation where AI has created all this destruction. People have lost all their jobs and software stocks sold off significantly.
Chapter 5: What impact did NVIDIA's earnings have on market perceptions?
Do you agree with the piece or do you think that it's somewhat flawed analysis?
Well, when you're talking about anything complicated, three years out, it's a bet and nobody knows. Here's my take on it. First thing is the realities of what I've talked about here and I've written about all year, the physical world is not prepared for what they wrote. People have to remember to get to that point, there are two forces greater than
Chapter 6: Why could Bitcoin and crypto benefit in the next economic cycle?
Anything that we can deal with. One is the physical upgrade. Like we don't have the compute and the power for that to happen. Is it theoretically possible if we could snap our fingers and have 100 gigawatts in the United States? Then yeah, we'd have these massively powerful data centers and AGI would be happening faster. The problem is to get to that point, we just don't have the ability.
We don't have the gas turbines. I don't need to go through all the things we've talked about.
Chapter 7: How is AI influencing government and military applications?
But this is the reason why I think all companies are in a race to get there.
so when you're at a point where let's combine what xyz did yesterday and say we fired lots of people stocks up 25 when those types of things which are anecdotal start happening where companies are getting valued higher when they can get rid of employees it says that they want to do this meaning let's let's not get into the whether they did it because of ai or they did it for some other reason let's just say
investors are looking for you're an adopter you're going to benefit so that's point one point two which you're going to hear me talk about i did a subscriber webinar this week where i went through this the friction in enterprises and people have to understand this there are so many frictions that adoption is not going to happen as fast as what citrini wrote about so on the one side the compute's not there but i think a bigger issue having worked for morgan stanley
how do they get rid of all the people that fast just because ai has the capability of it doesn't mean that they have the internal ability to do this and i don't just mean from a efficiency base is their data clean enough is their data in a situation where they can do this will the people someone has to be running these to some degree you can throw agents in there but someone has to be doing the orchestration
They have to know the workflows. There's a process here that I just don't think people fully grasp that the friction in enterprises is the reason why I'm so negative on all technology companies. Big behemoth companies need to adopt the technology for this to go.
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Chapter 8: What are the implications of deepfakes and spam in the digital age?
OpenClaw has opened up a world of entrepreneurs. Those entrepreneurs, they're buying Mac minis, sold out. Mac studios, sold out. OpenClaw. Okay, let's go use Chinese models, they're 20 times cheaper. Like all of these things are happening and enterprises are the issue.
So again, I always say this, the reason I got interested in Bitcoin is because of the K-shaped economy, because I had to find a solution to where the 8 billion people on the planet who are not participating in capitalism start to be able to raise their hand and compete with enterprises. So I will say this again and again and again,
Having worked at a Fortune 500 company, the ability for these companies to just snap their finger and move quickly doesn't exist. But when you're thinking of small companies and their ability to do this, don't think of Russell 2000 public small companies. entrepreneurs that you meet, that I meet, kids that I know from college that are building stuff. My son, I'm training him.
Anyone who needs an intern, my son is being trained by me. I'm literally teaching him how to build stuff on his own. And everyone who's a young kid is going to have open call way before the agents are rolled out, in my opinion, at enterprises.
now when you see um this piece i think everyone immediately says oh wait a second these stocks may not be as valuable as uh we thought i i think i've talked with you in the past about this idea of like a billion dollar pdf right so uh when leopold wrote uh his uh his original pdf he raised a billion dollars right there's been a couple of these that people have put out i think will man uh monitis uh is the one who uh who came up with this idea
The Citrini piece may be the first trillion dollar piece of content on the internet because it wiped out what IBM was down $40 billion in a day, right? I mean, that's just one company. So I don't know what the total market kind of impact was, but it was probably close to a trillion. And so when you look at it from that perspective,
okay why are software stocks getting re-rated and you've mentioned to me before that it's not so much are they going to be around it's more so are they going to grow in the future so maybe describe a little bit about this difference between uh worrying about whether the company survives versus whether the company actually you know drives growth so the the best way i want people to um
to visualize this is let's assume, and I got to convert it into something that they understand, that's easy to understand. So because so many people have gone to FanDuel and DraftKings and all this, let's take a football game, approximately three hours long. Let's assume that the game actually took a month and you played for one month straight and a team is up
20 to seven, but with a month left in the game, the probability of winning has not changed much. It won't change that much. If the game was a half hour long and it's 20 to seven and there's much time, then all of a sudden the probability of a team winning is heading towards 100%. The reason I bring that up is that's what's happening to all companies that can be disrupted by software.
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