Chamath, Jason, Sacks & Friedberg. Weekly conversations about tech, markets, politics. Trades are attributed to the speaker who made the call.
Legacy legal research duopoly is getting crushed as AI-native rivals eat their data moat
AI does the billable legal work, so the paid legal-research toll booth that rode those hours loses its base.
AI commoditizes proprietary data, so data-moat incumbents lose their premium and re-rate lower.
SpaceX at $2T still has room to run, a durable compounder growing revenue over 30% a year.
Bittensor gives cheap distributed AI inference, cutting token costs 95% and unlocking massive usage.
AI token costs explode while enterprise ROI sits at 0-2%; the richest AI-software multiple re-rates down.
OpenAI can IPO over $1T on renewed momentum, but likely goes public after Anthropic.
Sovereign AI deal for the US government makes the data software firm the trusted app layer as enterprises flee frontier labs
Chip maker takes the gloves off with open source, owning the full stack as its own customers build rival chips
AI adopters grow faster and hire more, so heavy-AI-spend firms beat the automation-fear crowd.
Robotics halves homebuild time, so throughput expands and the U.S. home-construction complex re-rates up.
