E133: Market melt-up, IPO update, AI startups overheat, Reddit revolts & more with Brad Gerstner

Confidentially filed for an IPO, seeking to raise $8-10 billion. Its valuation is debated, with one speaker believing it could be worth $25 billion, not $70 billion.

One of two vertical search engines founded by Rich Barton, discussed for its potential role in a hyper-fragmented AI future and its plugin for ChatGPT.

A wine producer, specifically its 2014 vintage, which is called 'underrated' and 'excellent' by one speaker.

The speaker praises Southwest Airlines for its low fares and efficiency, having flown for $49 and in the front row, reaching Vegas in an hour.

Owns ARM and seeks liquidity through its IPO, having experienced significant write-downs in its Vision Fund.

Mentioned as one of the firms CalPERS has invested in recently, indicating a shift in their VC strategy.

Tried to acquire ARM for $40 billion. Its stock has performed extraordinarily well due to AI-related demand, with Q2 revenue guidance revised significantly upwards.

Mentioned as a company with a valid AI angle; expected to fiercely compete in the AI search landscape, potentially cannibalizing its existing search revenue.

Google tried to 'kill' Yelp, but users continue to use both services; an example of a vertical search engine that persists despite aggregator attempts.

A startup that raised a $105 million seed round at a $240 million valuation without writing any code, primarily to fund compute resources (100H GPUs).

One of two vertical search engines founded by Rich Barton, discussed in terms of its future in an AI-driven, conversational UI world.

A fantastic company doing over a billion in revenue and growing extraordinarily fast, also queueing up for a potential IPO.

Mentioned as one of the firms CalPERS has invested in recently, indicating a shift in their VC strategy.

Referenced for its consensus inflation forecast of 3.7%, contrasting the Fed's 3.2% projection.

Mentioned as a company with a super valid AI angle, also one of the most valuable tech stocks.

Mentioned as an example of a company that has seen significant stock recovery, up 67% this year.

Its stock has doubled off the bottom. Also discussed for its potential new text-based social network 'Project 92' to compete with Twitter and pay creators.

Company co-founded by Reid Hoffman and Mustafa Suleyman, believing in general intelligence to create intelligent assistants.

Mentioned as an IPO candidate floated for 2023. Later, discussed extensively regarding its API pricing controversy and user revolt.

Sold 50-51% of its company to Microsoft to gain access to data and compute, highlighting the nuclear arms race in AI.

A powerful sleep aid that the speaker tried recreationally and found to have a bad tail effect, causing grogginess.

A virus carried by Aedes aegypti mosquitoes.

A significant health concern, with 400 million people infected globally each year, causing 21,000 deaths, which Wolbachia-infected mosquitoes help combat.

Another virus carried by Aedes aegypti mosquitoes, causing 200,000 cases and 30,000 deaths annually.

A practice involving jumping into extremely cold water (e.g., 45 degrees Fahrenheit) after heat exposure, shown to be physiologically optimal when combined with sauna.

The most common disease-carrying mosquito species responsible for transmitting yellow fever, Dengue, and Zika.

A natural bacteria found in mosquitoes that makes them resistant to viruses like Dengue fever, used in a public health project to reduce disease spread.

Actress who stars in the film Tár.

Founder of Expedia and Zillow, who discussed the 'race to intimacy' in UI design for the AI age.

CEO of Meta, who believes in a future with hundreds of specialized AI agents rather than one super agent.

Veteran venture capitalist known for discussing optimal venture fund sizes and the dangers of overfunding.

Anticipated a hard landing for the economy in Q4 based on the bank crisis.

Reportedly being courted by Meta to join Project 92, its new text-based social network.

Presidential candidate who retweeted misinformation about Bill Gates genetically modifying mosquitoes, contributing to scientific illiteracy.

Co-founder of DeepMind; also a co-founder of Inflection AI, noted for his perspective on general AI solving vertical problems.

Chairman of the Federal Reserve, whose statements about data dependence and likely future rate hikes have confused markets.

Highly respected venture capitalist, proposed as someone CalPERS should have called for investment advice.

Published that he spent $75 million on hardware (H100s, A100s) for his portfolio companies to use for AI training.

Co-founder of Inflection AI, who believes general intelligence can solve vertical problems horizontally, similar to a personal assistant.

Reportedly being courted by Meta to join Project 92, its new text-based social network.

Subject of misinformation, wrongly accused by RFK Jr. of genetically modifying mosquitoes, when he actually supports projects using Wolbachia bacteria.

Mentioned in relation to Ke Huy Quan (Short Round) winning an Oscar, with pictures of them together.

Cited for his bearish predictions on inflation and rates in 2022, which proved correct at the time.

Mentioned as someone who also discussed the research on heat and cold exposure on his podcast.

Veteran venture capitalist known for discussing optimal venture fund sizes.

Cited for his argument against GMOs, emphasizing asymmetric downside risks from technology.

Guest on the podcast, a managing partner of a large venture firm, offering insights on market trends, AI investments, and venture capital strategies.

Famous actress from Crouching Tiger, Hidden Dragon, who starred in Everything Everywhere All at Once.

Mentioned in relation to Ke Huy Quan (Short Round) winning an Oscar, with pictures of them together.

Mentioned as a researcher whose podcast references a study on heat and cold exposure for physiological benefits.

Meta executive who reportedly discussed Project 92 at an internal all-hands meeting.

Morgan Stanley analyst who correctly predicted the awful market in 2022 but was wrong about a hard landing in Q1 2023.

Host of a podcast where Mark Zuckerberg mentioned being inspired by Blue Sky for Project 92.

Founder of Oculus, who raised initial funding through Kickstarter by pre-selling devices.

Mentioned in the context of venture capital firms taking losses during market downturns, humorously rhymed for discretion.

The Fed decided to pause rate hikes after 11 consecutive increases but indicated potential for more later in the year, leaving markets perplexed about economic outlook.

Cited as an example of a company with a speculative AI angle (AI journalists) that saw a quick stock pop but is likely to be delisted.

America's largest public pension fund, managing $444 billion, which is dramatically increasing its allocation to venture capital after years of underinvesting and poor returns.

Co-founders were present at a dinner discussion about AI, highlighting their significant role in AI development.

Discussed as a massive infrastructure project that began as a 'dog food' project on Amazon Retail's own needs, not a startup.

Meta's upcoming text-based social network, aiming to compete with Twitter by paying creators, reportedly targeting celebrities like Oprah.

A social networking initiative that reportedly inspired Mark Zuckerberg's Project 92.

Google's AI model, noted for its rapid progress in integrating images and menu items into search results, seen as a strong competitor to ChatGPT.

An AI model, discussed as a potential 'aggregator of services' and its use with the Zillow plugin.

A natural way to ease into sleep, which the speaker uses as part of a routine and finds effective.

Another sleep aid that the speaker tried once and experienced negative side effects like grogginess.

A film that one speaker found boring and self-absorbed, suggesting it's good for sleeping, while another considered it the best film of the year.

Praised as an unbelievable, incredible film that won Best Picture at the Oscars, despite initial skepticism about Oscar awards.

A natural mineral sunscreen recommended over chemical sunscreens containing endocrine disruptors like oxybenzone, octinoxate, homosalate, and parabens.

Gaming headset that was successfully funded on Kickstarter, as an example of constraint-driven startup success.

Described as 'the new hotness,' it raises heart rate and helps with sleep. One speaker plans to get one with an ice bath.

Expensive and scarce hardware, along with A100s, needed for training AI models, driving up the size of seed rounds for AI startups like Mistral AI.