SPEAKER_02 0:03

Yo, yo, yo, yo, yo, yo, yo, yo, yo, what the fuck are you gonna do?

SPEAKER_03 0:10

Welcome back to the fucking stream, and man, it's always a big stream, but today is particularly a very big stream. We got Michael Saylor out back squealing for a breath of fresh air. And it looks like the market makers are not gonna give him one. And we have Micron Earnings. The fate of the universe as we know it depends on what happens in about one hour and 13 minutes. We have GTA 6 announcements, which I love. We have Wendy's Pump and Dump, which I love. Well, I don't know if I love that, but I'd love to talk about it. We have anthropic poaching new more Google employees, which is crazy. It happens every single day. We have Korean stocks, we have OpenAI, we have ZPU, we have a lot to cover, a lot to get into, a lot to go over. And yeah, the big, big, big, big coverage is gonna be at 11, one hour and 11 minutes. All right, starting off, I don't know if y'all care about the NBA, the NBA draft, but my roommates, my college roommate who I live with for for a year and a half, basically two years, little brother, Nate Aymant, just got drafted to the league to the Milwaukee Bucks with the 13th pick. Movie. Fucking movie. That's my dog, man. My dog just got drafted to the Milwaukee Bucks. Pick number 13. It should have been the Miami Heat, but they traded it for Giannis. That brother could have been out in Miami. Sending that brother to Milwaukee is rough. But shout out to Nate Aymment, man. I knew this, I knew when he was like 14. It was a while ago, man. He was like a freshman in high school when I was in college. He's young. I think I'm five, six years older than him. He's a he was a freshman in college. Went to Tennessee. Top 10 player in the country. Went to Tennessee, one and done. 13th pick to the NBA. I don't know what that what does that contract look like? Four years, $26 million, man. Or not 18. He's 18. Oh my god. Monster. Shout out the kid, man. Shout out to everyone that got drafted. How are your roommates in college? No, it's his little brother, my roommate's little brother. It was a pretty cool moment. I'm not gonna lie. It was a it was a pretty cool moment. And yeah, it was awesome. So it was good to see that. Um, all right, look, we have a bunch of bunch to get into, we have a bunch to talk about. Um, first and foremost, I just want to give a take. I saw a commercial yesterday on the TV that I haven't seen in a long time, and it was for one of these deal dash auction websites. You know the ones where they're like, I got this ninja creamy blender for just one dollar and seventy-seven cents on deal dash.com. And I was thinking about it and I had like a flashback to my childhood. And these were the original gambling platforms, bruh. How does Deal Dash make money? Is it a public company or no? I never understood it. Like, you know how these things work where they they keep your bids. So every bid that you you like bid a dollar and 17 cents on an iPad, it's like a it's like a buy now, and then someone bids you to a dollar and eighteen cents, then you bid again dollar and nineteen cents, it's another bid, and you don't win. It's probably there's probably bots that could tell um when there's like no real human volume or whatever, and they just come in and swoop it at the very end. That's how I assumed it was. I don't know how it works exactly. Maybe it's just a raffle, but I've never in my entire life met an actual human that has used. Have you ever made money from one of these platforms? I have never met one person that has bought something on one of these platforms, and they disappeared. I for it was like a fever dream that I forgot happened, and it popped up on the World Cup ad yesterday, and I was like, What the fuck? I had like a shaky reaction to it, it was nuts. Um, the original that you could argue is where everything started going down, gambling, casino efication of everything 100%. It's it's pretty scary out there. We'll uh we'll get back into it in a little bit. But before we do, we have to talk about everybody's favorite stock on some intro topics. Bang, bang, bang. First and foremost, is dude, meta. I'm not gonna lie. It's I've seen this picture a thousand times in the last day. The only time I saw the Snapchat glasses was when we were making fun of it on stream. I've seen this Kylie picture like a thousand times. I saw it on every platform. Genuinely, I might buy one. And think follow-up. Look, I'm not the biggest Kyle Kuzma fan, but I gotta admit, they're everywhere in my feed right now. Meta is everywhere in my feed. And so I made this tweet yesterday, and I was like, you know, Meta hasn't had an original thought since Instagram stories, which they stole from Snapchat. And I found this. I think uh DNAP found this actually. Look at this. So there's this like this spreadsheet. Original product and meta's clone. Oh, they're like half 50% hit rate on this. You know what? I always think it's funny where people like there's no such thing as a good idea. It's all just your ability to execute on it. It's whenever I hear someone's like, Oh, you stole my idea, I'm like, bro, your idea sucked. Everyone steals everybody's idea. Okay, there's no such thing as a good idea. It's how well can you execute on it? And as it relates to like uh stories, Instagram's just a better platform for stories. Other intro stuff, do we even care? Pokemon G Shock collaboration, pretty sick. I'll be buying this. Also, what happened to the AP Swatches? People move on from stuff so fast. Have you seen a single A piece watch in the street? I haven't seen one in the wild. What happened? It was like it lasted for a day, gone. It's unbelievable. It's almost like there is no such thing as a macro trend anymore. It's like everything is everything and it happens so fast, and we're just done. There's no such thing as a macro trend anymore. Every trend is a pump and dump. And you just permanent capital. Okay. Everyone smokes again. Nobody has a favorite brand. You might argue, maybe even correctly, cigarette advertising budgets have been nerfed. Why wouldn't the population buy new ports yesterday and spirits today? Don Draper quizzed a waiter on his brand loyalty. Quote, they gave him to us in the service. I love my old golds. Cigarette apathy speaks to a broader lack of preference. I don't have a favorite team. I just like a couple players. I was a basketball fan in May, but now I'm rocking with soccer. I don't know all the stories or the players or what happened last month. Goal. Having preferences is a lot of work. There's a startup called Taste now. I don't have time to keep up with what's cool, but you can put a Paul Newman in a 1990 and a 996 and a Ramoa on the same website so I can buy them. Investing behaviors, skew, similar. Stocks are factors and tweets. Coin hold times are 75 seconds. Now we care about photonics. Valentir was last year. I have a 2% drawdown limit. Henry Kravis advising me to find permanent capital, but I need to make it by summer. Spaces have collided. The four group chat apps look the same. The five feeds that show the same reels. Stand in line for an hour at the same coffee shop. There's an impending wait, not an end of history, but a collapse of seasons into the now now. What's the move tonight? Chickens with no heads on career paths. Fuck it. Let's trade the college basketball players. If we don't take off by summer, the lab, AI lab, is gonna make it. Claude and Slack hits a bit harder because the agent is in liminal space now. He's not in your command line anymore. I don't use it. Backrooms was the best film I've seen in two years. The depth of unease is hard to pinpoint, but after the movie, my wallet disappeared and showed up in another bag. Base 16Z. And so I was thinking about this. Like, what is my takeaway from this article? My takeaway from this article is basically that everything has become everything now. And a good example of this is what they're doing in finance right now. Every finance app is every finance app. Think about it. Your wallet is your brokerage that has perps. Your perps platform has a has a card. Your card has a savings and a checking. Both of them allow money transfers back and forth. Both of them allow you to buy crypto, to buy stocks, to buy gold, to buy metals, to buy oil. All of them allow you to trade prediction markets on geopolitics and bet on elections. All the sports betting platforms also have a card that also trade everything is like becoming everything as a microcasm in finance. But then it feels like everything is becoming everything everywhere. Yeah, it's like everything is becoming the everything app. Everyone wants to be the everything app. Okay. And the one place on commerce, everything is becoming Amazon. The commerce platforms offer social media, the social media platforms offer commerce. Like, look at TikTok. The same place that I buy all my products is the same place that I consume my social media. It's the same place that I order Uber Eats. It's the same place that I get cont uh content. It's the same place that I message people, is the same place that I bank, it's the same. Everything is like becoming everything. And I was thinking, like, okay, what happens as a result of this? And I was listening to Ryan Cohen, did a podcast today, who, by the way, I'm obsessed with Ryan Cohen right now. He did a podcast with David Freeberg, okay? And they're asking him about Chewy. He asked him why he started it. He said that he's he owned a dog and he was on the way to pick up dog food for his dog. And one, he realized the economics behind it are great because it's a recurring business. You go every week to get dog food for your dog. People pay a lot for dog products, like they love, you know, they love their pets, da da da. But what he really realized is why am I going to my neighborhood boutique pet store right now? Like, why hasn't Amazon eaten this alive? Why haven't pets.com eaten this alive yet? And so he went and he did it. And he systemized pet food and he turned it into a website where you have you know recurring subscription and you order it and you do the like the megacorp conglomerate thing, and they won, and it'd be turned into this massive business. And had me thinking about it, which is like, okay, when everything becomes the everything app, like what happens? And I think at least on a minor scale, what happens is boutique becomes cool again, and it becomes cool to be niche, and it becomes cool to do vintage, and it becomes cool to have vinyls, and it'd be cool, it becomes cool to add friction in a world where there's zero friction and like full cohesiveness across all consumerism. One example of this, by the way, I think, is the death of Nike. Nike was athletic wear. Now, basketball shoes, Adidas is is dominating, Pumas lit. Yoga, aloe is dominating. Steph Curry signed with lightning, underarm is still hot. Nike doesn't win basketball anymore. Soccer, Adidas dominate as well. Lululemon takes over, gym wear from men, Gymshark takes over, walking shoes, Hoka, and like AC come over. They they dominate, they took over. And so everything goes back to being like really, really, really niche. And then Nike is no longer cool. They don't do anything well, they do everything, but they do nothing well. And boutique sort of like takes over category after category after category. So yeah, it's like anti-slop. Like this article a lot. It feels like the grand cohesion of everything is going to lead to like back to niche. But there is gonna be this gravitational pull pull towards the machine. Walmart's an interesting one, by the way. Walmart is an interesting one, by the way. I like I like Walmart as a thought on that. Shout out basics and Z. If you want to read it again, your own time. Sick article. I posted on my IG story and I had Hella Girls swiping up. Did you write this? Yeah, yeah, yeah. You know, I want to speak on this. Account I really like. Unemployed capital allocator. I've been holding back on bitching about prices, but I I gotta give in. Inflation is out of control. What the fuck, man? I'm just gonna say, I feel like everybody, as of I don't know, two, three years ago, but really the last year, has completely given up on the inflation thing. Like fully given up. There is no there's no such thing as price anymore. Everybody has completely given up on the inflation thing, like full blown, mailed it in. Everything costs everything, and we don't even care. Basically, the way that I think this goes is there's one percent of the world that swipes regardless, doesn't give a fuck, they don't even look. And the rest of the the 99% could barely afford before, and they definitely can't afford now, but they can afford because they just buy now, pay later on Klarna on debt that's never getting paid back. And I look, ever since I started making money, I just swipe my card. I'm pretty bad with managing my finances. I just close my eyes and let it happen. I spent $49 on a pure Vita breakfast bowl yesterday and said this has gotten out of control. It's a $30 bowl, it's a $25 bowl. I added steak, $30. I added chicken, it's $35. So two eggs, some rice, lettuce, steak, chicken, $35. Uber Eats delivery is $5. The delivery tax is another $5. And then I uh priority delivery because I don't know, automatically click it, another $5. $49 on an Uber Eats on a on a pure Vita bowl. Everyone has just given up. Everyone is just completely given up on the inflation thing. I feel like there used to be some sort of social contract where people would like agree, like, okay, it goes up, but we have to justify it. And like it goes up and it justifies it. And it there was sort of like a there was like a deal at some level that everybody tried to keep this thing contained. It has been compl Bro, they sell $24 smoothies at Erawan. Like it has gotten it has gotten so out of hand on the inflation thing that I don't even know what to say. And I disagree with you that a lot of people don't use Uber Eats. I know a lot of people that use Uber Eats and can't afford Uber Eats, and they just Klarna Uber Eats and they never pay it back, and they don't have to pay it back. It's like 1% inflation. You if you you pay like 1% interest on Klarna and you just never pay it, and the interest has interest, and nobody ever comes to collect it, and people have like I don't know. I all I'm saying is it's gotten out of control, the inflation thing. It really has. It genuinely has gotten out of control, and maybe I'm out of touch. I am out of touch, fine. Call me out of touch, but I'm not that out of touch because there's people way more out of touch than me. Okay, I'm pretty like, I'm pretty grounded. I'm here, you know? I'm here. I'm not that far gone. I'm I'm pretty here. So, all things considered, um, I'm a lot closer to you than I than than I am to fucking some of these guys, so I don't know. So, anyways, uh, another news. GTA 6 has been announced. It's gonna cost $79.99. Ultimate edition is gonna cost $100. Take two interactive does not really look great on the day. I should be up so much money on AMC. Now I'm fucking gonna be a a janitor and an Ansom's GTA server. We'll come back to it. Take two interactive is down 2.2% on the day. They're projected to do a billion dollars in pre-orders within the first hour, which is nuts. Thought this was an interesting headline, which is that PlayStation just confirmed GTA 6 will not have multiplayer at launch. This has sparked concerns amongst players that Rockstar Games might release a new GTA 6 online at a later date, which I don't know, not great. If you've ever played a take two game that isn't GTA, like a newer game, you know that these games are basically casinos. Like if you want to play park on 2K, you gotta max out your player day one to grind your player up to highest overall, 86 overall, whatever it is, it's like 80 hours. I mean, it's like a hundred takes a hundred hours, probably. And so you just pay for it. I mean, that's just you have to. You just you just buy it, and it costs the sticker price of the game for one build. These games are casinos. It's it's what they've done with the microtransactions is is insane. No, no, you have to. If you want to play park, you have to buy your build. You have to. There's no playing the game without buying your build. Anyone here that was a park head at any era, you know. You have to you have to. I would imagine that most of the money that they're gonna make is from online. I don't really know the economics behind these video games, but no online doesn't sound great to me, but it kind of is what it is. Wendy's, this is the fun one. There was a short squeeze. I don't even know if it's a short squeeze. There was a Wall Street classic Wall Street bets pump and dump on Wendy's today. Halted up, then halted down. Look at this, look at the daily PA on this. Look at the hourly, halted up, and then they halted it down, and then now it's kind of it's sort of just hanging out here. I I don't really understand the Wall Street bets thing. I don't. Um, what I really don't understand is that this was the post that went viral. It's this random post from this guy, elegant combination 43. We need to save Wendy's. He posted that $6.26. So you'd be up how much? I don't know, 25%. And this is the entire post. It's a screenshot of the five-year Google search down 72.96%. And it reads, We need to save Wendy's. My fellow regards, we need to save Wendy's before it's too late. If this company goes bankrupt, we'll all be out of a job. That was it. No thesis, no leader, no strategy. Just like raw dogged this post and threw it up, and then everybody starts slamming. I mean, I thought this was crazy. Everybody starts slamming Wendy's. Ryan Cohen, my favorite CEO in the world, just did an interview. And man, I'm I am passionate about Ryan Cohen. I don't know why. I'm very passionate about this man, Ryan Cohen. I think he's the best. And he has this, he has a really good idea for what to do with eBay. I think. I think it's the correct idea. As it currently stands, 14% chance that they acquire eBay. The highest was 22% when they submitted the offer like May 16th or some change. I'm gonna be completely honest. Ryan Cohen gets in control of eBay. I I'm interested. I am fully interested. I'm all in. I'm I used to be eBay buyer. I used to be a big, big, big eBay buyer, eBay seller. Platform sucks, it's got potential. Hear me out on this. This Cohen vision, brother. He's so good. This interview is unbelievable, by the way. Unbelievable.

SPEAKER_04 17:26

The third thing is, and this is something Dude, he's such a Chad. I cannot that I have not spoken about before publicly, but eBay today is the leader in so good physical items, physical collectibles as an example. And so I would extend uh that into digital collectibles. And essentially, if you look at all of these in-game items, triple A titles that people are accumulating, skins, weapons, all of these things, taking eBay and building a marketplace where you can provide liquidity for in-game digital items. Essentially, it's what NFTs could have, people thought they were, but ultimately they had no real utility. In-game items actually have real utility. And if you look at all of these collectibles, frankly, they're an ego play. You own art, like what is that? At the end of the day, it's an egoplay. Um, if you look at trading cards, I mean it's a piece of cardboard and a piece of plastic, and they're very, very, very popular, but there's no real utility to them other than being able to tell people you've got these really uh a really unique trading card. But if you look at in-game digital items, there's no marketplace that is providing liquidity for them. And so I would use eBay to uh to provide liquidity for in-game digital items. And I believe that the trustable market is significantly larger than uh could be much look, it's obviously against T US now, but it won't be forever.

SPEAKER_03 18:54

It will not be forever.

SPEAKER_04 18:56

Much larger than eBay's marketplace on physical items, and no one's doing it. And and this should already exist. And it's kind of like it's crazy that it doesn't exist.

SPEAKER_03 19:05

How does steam work? Results again, they take 15%. Ugh. So look at Steam wallet funds, not cash. They can't because they can't easily withdraw Steam wallet balance at the bank account. Valve doesn't need to constantly inject liquidity. Um dollars largely stay trapped inside the system. Interesting. Consider one of the most successful digital asset marketplaces ever built. Valve effectively created a giant asset market where most of the capital stays inside their walls. The expensive skins just get sold on third-party sites. Um man, I think he's so good. But all right, um, the big one today. I have a bunch of topics I want to get through, but obviously we're a little bit distracted because we have Micron. Yeah, it says I'm I'm registered, but I don't know under what okay. I got it, I got it, I got it, I got it, I got it. All right, cool, we're good. I have the earnings call. Um, all right, here's where we're at. Micron is right here, and we're gonna find out in just a second. Four minutes where we're at. It's at 1032. Oh, I'm kind of nervous. It seems like this is a big deal. Um, 364 million dollars to 24 hours. Um, all right, you this is a really cool feature where you could see like biggest adders of micron in the last 15 minutes. I mean, let's go like last hour. Where are we at? Cumberland algorithmic CBB is an algo. This guy had 1.5 algo as well. It's one of the things I asked him to get rid of is a filter where you can get out of you don't show algos. Um, this guy had 1.3 million, also algorithmic. This fellow is not algorithmic, he's up three mil all-time trading perps, all time high 4.7 with spot. He's up 5 mil. He's long 100k margin micron on 10x. Oh my god. Ugh. Basically at break-even right now. 10x long on 100k. Um, this guy is also not an algo. Up 250k all time. He was down 200k yesterday. What is he up on? What did he make? What did he make it back on? Made it back on some gnarly shorts. He had a lot of positions open. Made it back on SpaceX shorts. Good for him. He has Micron 34. Oh, he didn't closed 34k on 4x. Um, this is a popular wallet. It's down 5 mil all time. He's short micron, 100k on 10x. Well, whoa. Come on, just rip it. Come on, man, just tell me. Holy, what are these candles? Is it out? Is it out?

SPEAKER_02 21:43

Holy double crush. Double crush, double crush. Rip it, rip it. Rip it, baby. Double crush.

SPEAKER_03 21:51

Let's go. Let's fucking go. Wow, let's fucking go. Beat by twenty-one percent. Revenue beat by sixteen percent. Let's go, man. Six more months of a bull market, baby. Why not? Six more weeks at least of a bull market. Let's go, man. Man. Oh, it's a monster. It is strong. It is fucking strong. Do you trade on hype or hype dash? I've actually never traded on hyperdash, but I'm interested in maybe. I like those guys. Uh the team is good. Right now, market closed, market closed. We got like 15 minutes. Let's go. Bang, bang, bang. Through it. All right. SPX had a very weird day. It was up a lot. It was down a lot. It was somewhere in between. It comes in down 0.1%. Not bad on the SPX. 7,358.21 cents. Cost be rebounded after circuit breaker day for a plus 3.3% day. Samsung is ripping. There was some news on Samsung. It jumped 10% after a port that 90 trillion one share buyback plan, which I don't know how much US that is, but it's a fucking lot. 90 trillion. It's a big number. It's a big number, whatever currency it's in. Um, so Samsung had a huge day. Good for the cost be the Russell. 2000, that's about a percent. Q's down 0.43. The Socks is down, but after hours up 3%. It was down one uh 0.14 on the daily, but after hours it's a ripper. The IGV is down 1.32. It's the worst coin of all time. And man, there is nothing that looks as good as the IBB. To anyone, somebody tell me you took a trade on the IBB because this thing is unbelievable. It's a little bit out of my fucking wheelhouse, unfortunately. It's a little bit out of my wheelhouse. Um, but man, look at this thing. Looks unbelievable. I'm pretty chud lined on the IBB. All right, moving on. Uh, we're gonna go through this pretty quick because I'm not that interested in talk about Bitcoin right now. The death of Bitcoin is something we can cover every day. Am I retarded for being long soul here? I you've basically been retarded for being long soul every day after Kyle Zimani, about 1.75 billion at the top. But who am I to argue with you? Because I like Solana as well. Bitcoin 60k. It looks like we're gonna hold off at least for the rest of the day. Um, strategy is stock markets closed, stretch is not going down, but Bitcoin 60, Zcash 400. Stretch closes at 80. This is a horrifying chart. Bond yields down across the board. Metals Chad's got smoked today, absolutely smoked. Um, silver is down seven percent on the daily. It was looking like it was gonna set up for a big day. And oh handsome micron opened short 92k at 11140. All right, why not? Uh probably not him, but why not? Good to know. Um, Solana 67, gold is down three percent. Mando likes it a lot. We're gonna have Mando come on tomorrow to talk about stretch and sailor and all of this, so we'll probably hold out on that for now. And then the one that I like the most looks the worst, I would argue, is copper. Copper is bad. Um, Mando loves gold long, but maybe not right now. Um, copper looks rough, rough, rough, rough. It's nowhere near our line and it's going the wrong direction very fast. So I found myself relatively uninterested in copper. Uh, Palantir is disgusting. It is to me the closest proxy for a Trump admin stock, maybe that IBM and Dell, and it's off a cliff. It's now down an official 11.5% since Trump tweeted ticker palantir with a cash tag. Horrifying. Big tech, big semis, big AI, big everything. First and foremost, Cerebras, which beat yesterday, fell off a fucking cliff. It's now a 40 billion dollar company and it is down 20 on the daily. That is disgusting. Um, anyone who's ever bought Cerebrus is down a lot. Apparently, the earnings call yesterday was bad. I don't even know what that means. I'm not a huge earnings aficionado, if you will, but Cerebrus got smoked yesterday. Um, RoboStrategy as well. It has officially lost the level at which Andrew Kang announced he's the CEO. That's on 7%. And ugh. Everything's cheap when you're trading at 100x. SpaceX should just buy Cerebrus. I don't hate it. Rocket Lab down 10. SPCE, I should take this off the fucking list, down 10. Firefly, down 10. Redwire, down 10. ASTS, down seven. Space Ox crush. Where's SpaceX? Not good. Um, the thing about SpaceX today that was a little bit surprising to me was it had no juice. That was the thing. It didn't even make a move in either which direction. It just had no juice. It had no juice at all. No juice on SpaceX. Volume weak. Microsoft and Mags wanted to have a good day today, but didn't quite hold it. Down 2.25. Sand disk is down two. But after hours up 10. Wow, really? Holy candle. After hours down sand disk up 10 after hours is nuts. Um, wow, arm up three after hours, Tesla's down two. SpaceX after hours is nothing. Marvell's up three after hours, ASML is up three after hours, IBM flat. Biggest gainers today, pretty weak. Dell up 1.5, Bloom up 1.3, but up two after hours. Nokia up one, then another two after hours. Broadcom was up half a percent, then 1% after hours, and then Amazon. Nasty day, really. It was super green. Now it's super red. Uh closes up 0.1 and is basically flat in post markets. All right. I will never forgive what they did to me on this. Who is AMC CEO? I will never forgive Andam Aaron. And Adam Aaron, I will never forgive what they've done to me on this stock. Disgusting. Just no regard for human life. It's just a disgrace. You know what's crazy too is Citrini today published an article about the IRL events thesis. I'm like, man, it's my fucking thesis. I just picked the wrong. I just bought some dumb shit. Unbelievable. I just bought fucking. I see everyone everywhere's talking about IRL this, IRL that. And I'm sitting in AMC. It's atrocious. But all right, some of our consumer names. Da-da-da. Sweet green, biggest gainer on the day, up seven and a half percent. Shopify's up six. Uber is up six on maybe news that Nancy Pelosi, correct me if I'm wrong, has taken a position. I don't know if we care, but she bought five million of Intel and bought one million of Uber. So Trini bought Sphere, he bought IMAX, and he bought something else. Um, Nancy Pelosi is in Uber. I don't like the Uber thesis, I hate it, but it is what it is. So Trini bought subhub stop. Um Airbnb is up four. Uh Roblox up two, GameStop is up two. Biggest losers. Yeah, there is a coordinated Uber thing going on, by the way. I don't know what it is or why it is or exactly why they're doing it. But there is a very coordinated. Oh my god. Oh my god. Uh strategy was down 10. I ran down eight, circle down eight, write it down three, a lot of blood in the streets on some of these names. Is Bitcoin up on micron earnings too? Let's see. Yeah, I mean everything is. I might have just saved the fucking market. Wow, Intel. Look at Intel. Oh my god, it's still going. No, I was terrified. I didn't open shit. You're insane. Micron pre earnings, you're nuts. I was not touching that. Look at it go. Oh my god. 2.1 now on this wallet. Air mass up 2.6. Uh, all right, let's listen to earnings, I guess. Um, I don't I hate listening to earnings, but it's fun to do it side by side.

SPEAKER_00 29:37

Ladies and gentlemen, thank you for joining us. And welcome to Micron Technologies fiscal third quarter 2026 financial conference call.

SPEAKER_01 29:47

We estimate that this increase in our server unit growth expectation is enabled by a modest reduction in average server DRAM content growth as customers focus on maximizing unit shipment amid a very tight allocation of memory. In NAND, AI context memory storage and HDD displacement opportunities for expanding the adjustable market for FSDs.

SPEAKER_03 30:14

On it looks like, ladies and gentlemen, the show goes on. Um, all right, let's go over a couple things. That kind of like I mean, that was the stream. I don't know what to tell you. I don't know what to fucking tell you. It is mostly you're not a fan when you play earning calls TBH. Uh yeah, contraband. I'm sorry, you're not a fan watching the stock that decides the fate of the universe and your life in the market for the next fucking year, whether or not it goes up or down and destroys the world or not. I'm sorry you're not a fan of that, but I'm here to make fucking money. Okay. So I'm not a fan either of listening to these calls, but I I am a fan of fucking pina coladas on the coast in south of France. So if you're a fan of that too, then I suggest we just get on board on the same page here. All right, it's mostly all good, but it's not all good for everyone because Google is in fucking trouble. It is the fourth headline about this in a week that they have lost major talent to anthropic. Now, I don't entirely know what's going on here because it isn't just talent is leaving the labs, but it's they're all going to anthropic. Everybody is going to anthropic. And so there's something going on here. Okay, maybe it's this like effective altruism idea that they align with, a community generally aligns with. It's maybe that, or it's maybe anthropic has built God. Maybe it is that. This has been the take from from a long time ago when the war department of war stuff was going on. I don't know, but it really feels that way to me that anthropic has internally dominated. It felt this way four months ago, it feels this way now, and everybody is rushing out of all of these other labs to get to anthropic. Are they trying to cash in a potential IPO? I mean, this guy, these guys have like nine-figure packages at Google. I don't think it's a money thing. Uh, it probably doesn't hurt, but I don't think it's a money thing. This is 8D chess by Google. Send them to Anthropic, let them get fattened up on some crazy pay package and produce nothing, and then keep the no-name cracked engineers. It maybe. Um, it might be 8D chess. I don't know. It might be, but it might not be. Speaking of Google and Dilution, well, I wasn't speaking about dilution, but I am speaking of dilution now. Uh ZPU, which has recently been ripping up 50% or something. The first thing that they've done is they've announced a multi-million dollar share dilution sale. Pretty wild that they're doing this right away. Like, first thing that they've done is uh announce this. These companies are really hard to trade. I don't know. I have no exposure to any of these Chinese companies. ZPU was the one that I really wish I bought on the ban of Anthropic Fable, but I don't know what happens to it now. We'll see. Yeah, it had this, it made this you know it made this crazy bottom to top move. Pumped 190%, and then top to bottom down here, dumped like 32%. It's down top wick to where it is right now, it's like minus 27%. So it's gonna be the one that we keep a close eye on. It's been pretty electric, but that is Z Poo. We're just gonna bang through a couple things. Um, I actually bought Broadcom today. I don't really know why I did, but I just felt like clicking something. I bought Broadcom at basically the price it's at right now on this announcement that they design and build our first chip with OpenAI, Jalapeno. If there's one thing OpenAI is really bad at, it is naming things. They are really horrific at naming things, and this is no different. Everybody will build chips, but designed for the ground up by OpenAI and brought to production by Broadcom. Jalapeno is purpose-built for the LLM workloads, powering Chat GPT codecs, the API, and future agentic products. Chips are foundational to the AI economy, building our own expands our full stack platform from products to models to infrastructure and will help us scale intelligence, serve more people, and expand across how the guys are. So we'll see what happens with Broadcom. But this was the stock, if you remember, that had earnings and it was a fucking disaster. And it had this crazy gap down, and we were pretty scared about it. I mean, it's down tick was five hundred dollars, it's down like twenty-three percent. It was as low as twenty-five percent at one point. So that is Broadcom and everything that's happening over there. Um, okay, a couple updates on Claude. First of all, they announced this update that got a ton of publicity, and I feel like it's the same. I don't know, I feel like we get this update every week. Basically, I'll put it on 1.5, watch it up, and I feel like I get this update every week from Claude. Carpothe's calling in a new paradigm, which is crazy. Once you do all the under-the-hood engineering to make this just work, Claude basically joins the team in a seamless way. You can talk to it as if you would talk to a person, and it can help with a very large variety of workloads. I am out. This is the third major redesign of the LLM UI UX. The first paradigm was that the LLM is a website you go to. The second was it's an app you done on your computer. The third is that it's a self-contained, persistent, asynchronous entity with org-wide tools, context working alongside to human humans. It really takes a while to wrap your head around, but once it works, it's awesome. And somebody asked him about it. Like, I feel like I've seen it a bunch of times. And he says that uh the basic idea is easy, and V0 is a hackathon project. The product here is a lot closer to it actually works for enterprise grade deployments, and after quite a bit of internal experimentation and iteration, it's kind of hard to describe other than it's writing majority of code, it's deeply integrated, multiplayer, and starts to feel like everyone is a manager. So I understand it looks easy to dismiss on quick reading, but it's not some new LLM QA with rag over Slack. It's not even OpenClaw JSON, it's a different way of working entirely for people in teams. I work from Slack now, so I will say this I've been using my open claw a fucking lot recently. I have, I've been using it a lot recently. Um, and then the follow-up to this is that clawed code v21190 introduces several string changes that hint at preparations for Fable 5 to return, with it being permanently included in subscriptions with weekly usage. The string quote, you've used your fable five usage for this week has been added and purchased separately from your plan, has been removed. On this post today at 9 a.m. There was a pretty significant uh spike of Fable returning by June 26, two days from now, from nine percent. They ripped up to 40. So it seems as if we are going to get Fable back and we're gonna get it very soon. And I am and I didn't use it the first time. I did not like, dude, they took it away and I never used it, and it legitimately was like one of my biggest regrets is that I never got to use Fable. I'm all I'm having IRO friends ask me about it. My dad's asking me about it. Everyone's like, Oh, I know you use this AI stuff. What'd you think of Fable? I have to look them in the eyes and be like, I didn't use it. And they're like, What? What do you mean you didn't use it? I I don't know, I didn't use it. It was up for like a day. I didn't use it, and so but man, it was a special day, was it not? Um so that was Claude, and then we just have a bunch of slouncements that we could spend a lot of time on, but I don't I want to, it's like the markets change. I want to prepare for tomorrow. Um, Nancy Pelosi's buying stocks. Apple announced the flip phone, the fold phone, I guess, which I will absolutely be buying when it comes out. SpaceX came out, so they're doubling down in video and image generation generating tools. Also, short sellers ramp up bets against SpaceX for 30% slide. SpaceX looks pretty pretty uninteresting right now. Nike CFO has stepped down and it looks so terrible. Um, private credit redemptions are going insane right now, and they're not honoring a lot of them. That's happening. Uh AirPods maker Luxhare is thinking about an IPO in Hong Kong. Could raise $3 billion. That's a cool one. Never thought about who made AirPods. Just assumed Apple did it. All right, there's nothing else. I'm gonna end it on that. I'm happy now. I'm in a good mood. Um every day at three, no, two forty pm EST.

SPEAKER_02 38:16

I will catch you like peace.