IPO Giga Boom, World’s Fairs of the Past | Diet TBPN

We have a great show for you today, folks. It's Friday, Friday, May 22nd. We had our Wall Street Journal stolen from us. We only have the Financial Times today, but we're making do because we have a digital subscription as well, and we're going to take you through America's IPO boom. Uh, so three key stories that broke since we last spoke a mere 21 hours ago. Since we podcast for three hours and then we come back 21 hours later. >> We do it again. >> We do it again. Yesterday, Politico reported that David Saxs made an 11th hour appeal to President Trump to spike an executive order that would have created a voluntary program voluntary program for frontier AI companies to submit their models to the government for review 90 days before new model releases. I wonder what the benefit of that is. Obviously, it's good to have red teaming going on, good to have benchmarking, good to have other eyes on the project. there's some sort of, you know, liability that happens with the round thing on the table. No one in in the TVPN audience has ever seen this. Can you describe what this is? This round shaped >> argument. Not exactly sure what we're looking at, but I saw them talking about this on ESPN and people are always saying you guys are like Sports Center for Business. >> You should pick one of these up. This object, >> so I had to check it out. This this artifact >> brown oval object. >> Yes. >> Cool. Well, it looks fun. Anyways, uh I was having a little bit of fun earlier throwing this at the >> grilling the gong >> drilling the gong. Uh the production team didn't like it >> because there's this, you know, 70 $70,000 >> massive flat screen TV next to the gong as well as multiple cameras >> and lights over there. But >> no accidents. >> Wow. Mandate of heaven over there right there. Uh so for his part, Trump explained the last minute cancellation by telling reporters, quote, "I didn't like certain aspects of it. I think it gets in the way of dash, we're leading China. We're leading everybody and I don't want to do anything that's going to get in the way of that." The presumed text of the EO was leaked today. You can read it uh through this link. Uh interesting. >> Tyler, have you checked in with less wrong? >> Yeah. How are they feeling about this? >> Yeah, I mean I assume they're not happy with this. This seems to be like anti-safety. >> Um, >> do they want more review from from independent nonprofits, for-profit companies that are run by people with good intentions, or the government, like democratically elected? >> I mean, I I assume at at some level it's it's got to be the government, right? Because if you're super hyped, these things are nuclear weapons. It it needs to be the government. But I think on the way there people are are definitely like >> is there anyone who is there anyone who says like no no no actually like nuclear weapons are super important but they shouldn't be regulated by the government because I don't like the government. I would rather my favorite mega corp owns them controls them. If you look at the if you look at the the the approval rates for different organizations there are plenty of companies that are pulling above the US government. Like people love Disney adults. They say give Disney a nuclear weapon. They already have the rights to build a nuclear power plant. You know this? >> I did not. Disney World has like like uh you know legacy rights because when they set up Epcot which is an acronym which I should look up because what does it stand for? It stands for something really cool. This also bridges into one of our one of our future segments. Uh stands for what does Epcot stand for? Experimental prototype community of tomorrow. The idea was to build an entire city. It was uh it was the practice of the of the Yeah. And so in 1966, Walt Disney conceived it as in 1966 as a utopian fully functioning city. And I believe this might just be viral clickbait, but they have the permission to build a nuclear reactor to power the prototype community of tomorrow, Epcot. Yeah. Uh and so I don't know, maybe maybe there's some folks out there that say we can't trust the government. We can't trust the Democrats. We can't trust the Republicans with the nuclear weapons. Give them to Disney. >> I don't know. >> I trust Bob with the nuclear. Trust Bob, the new guy. We got to meet him. We got to get to know him. >> That's right, >> Bob. He can >> I'm sure his hand. Yeah, I I trust him. >> I trust his hand on the button. Second story highlighted by Brandon Grell in the TBPN newsletter. >> The Gellinator. >> Theater in the TBPN newsletter. Uh an anon account posted yesterday. >> He's sitting here with uh with this noise cancelling headphones. He doesn't know about him. >> He's gonna find this out later when he watches these clips. Uh anyway, and a non-account posted yesterday that Microsoft had cancelled its internal cloud code license after tokenbased billing made the cost untenable. This catalyzed a ton of commentary and discourse around axe. Box CEO Aaron Levy, for example, used this post to argue that token price optimization is set to become a prevailing trend inside companies relying on LLMs. Worth noting though that there's a proposed community note on the post right now that denies Microsoft made the move because of a cost issue. They have the money to spend billions on on tokens if they want, but instead they are trying to shift the developers to use their own co-pilot CLI, which I imagine they're they're going to build their own harness, their fork of cloud. >> Someone referred to it as they want to make the engineers eat dog food. >> Yes. But what's the dog food made of? It could be made dog fooding >> GPT 5.5 tokens. It could be made of Opus 47. >> I do think it uh >> I guess they will be using >> Yeah, I mean I I think the reason that that Codex and Claude Code and Cursor and these other tools have gotten so good is because the engineers building them are using them all day long. And uh it's one thing to use those tools to build your coding tool, but being forced to constantly use the product uh that you're shipping is a tried and trueue way to build a great product. Yeah. Uh, the third story from Brandon Grow in the TBK newsletter, the American semiconductor manufacturer Micron announced that they've begun manufacturing one alpha DRAM, the most advanced memory ever produced in the United States at its Manasses, Virginia headquarters uh, or manufacturing plan. This move comes in the middle of the agent boom in AI, which requires longer context windows and thus memory than back and forth LLMs, which has led to an industrywide memory shortage. Micron has been an absolute has been on a tear. Let's see what they're doing. >> 800 almost uh 850 billion market cap. >> Remarkable. It's up 2% today, 3% over the last 5 days and 246% over the last 6 months. What an absolute run for Micron. It's up almost a,000% over the past year. Uh really, really incredible performance from Micron. >> Just wow. Anyway, America's going through a mini This was such a funny article by the Wall Street Journal. America's IPO mini boom. How is this a mini boom? You got three of the boom. This is a gigab boom. So, I I don't know if we have to truth on this, but it also made it to the front page of the wall of the Financial Times. They said SpaceX, OpenAI, and anthropic IPOs set to ignite Wall Street trading frenzy. NASDAQ loosens rules. Passive investors could dump rival stocks. Trillionaire prospect for Musk. The blockbuster listings of SpaceX Anthropic and OpenAI are set to prompt an unprecedented wave of buying and selling >> as new fast entry rules thrust the tech stocks straight into Wall Street indices. The rules implemented this month by NASDAQ mean billions of dollars of passive money will automatically flow to the three companies when they go public, driving their share prices higher and forcing investors to sell rival stocks. Elon Musk SpaceX initial public offering next month is expected to be the largest on record, firing the starting gun on what US bankers will hope will be a blockbuster year with OpenAI filing its IPO paperwork as soon as this week and Anthropic planning to float its shares too as well. The trio is set to raise tens of billions of dollars at a time of relentless investor appetite for companies linked to AI. The SpaceX listing will cement Musk's control of two of America's most valuable companies, SpaceX and Tesla. It is it is crazy. We're going to need a new term for the MAG 7 because Tesla has been in the MAG 7. It's been north of a trillion dollars for a long time, but SpaceX is going to go out at a higher valuation almost certainly. Where is Tesla trading at today in terms of market cap? It's at 1.34. hard to imagine SpaceX trading below that. So, you're going to have his MAG7 company will be lagging his non-mag7 company. We're going to need new terms. We're going to need a bigger boat. But why did why did the Wall Street Journal call this a mini boom? I think it's just because it's it's so concentrated on these three companies. But we will dig in and see where it goes. So, too bad SpaceX and others didn't go public sooner. Agree. But they are a tribute to the US capitalist system, says the Wall Street Journal. Today's AI investor euphoria recalls the heady.com days of the 1990s, and it's hard to tell how these bets will shake out. SpaceX, Open AI, and Anthropic are rushing to go public to take advantage of the favorable market conditions. But amid the the eulogies written about American capitalism, the latest mini IPO boom is a welcome tribute to the dynamism of US markets that no other country can match. SpaceX fired the starting gun. They're they're they're using the same language as the Financial Times over there. The starting gun has been fired. It's unanimous across the mainstream media. The rocket company founded in 2002 is a global leader in space exploration >> overnight success. Uh it is also spread into broadband mobile satellite internet and data center development. Anthropic recently agreed to pay SpaceX 1.25 billion a month to use its data centers to train models. That shows how competitors can enjoy symbiotic relationships. SpaceX says the company as a whole reported a $4.9 billion net loss last year, some of which stemmed from its X.com social media platform. Can that be that much? I have to imagine that the losses were not I mean I don't know how much Twitter was losing before they uh before the take private. I know that the the revenues uh cratered a bit but there were also big layoffs and an 80% reduction in cost that that the sum word there is maybe doing some of the lifting. I imagine that the that the losses were sort of spread over all sorts of investments. You know you're building a new a new uh Starship rocket which is set to launch today 5:30 central time. Tune in. Uh the last one was scrub. >> What a critical launch. >> Is it? >> No. Just because of the timing with the S1 and the IPO. >> I don't know. I mean, >> all eyes on >> I think I think the market is valuing the launch capabilities and SpaceX and Starship in particular is like one small piece of the of the puzzle. >> You know, it's important, but you know, >> but people are going to be paying way more attention to this. >> Yeah. Obviously, people will be excited about it, but I think even just the, you know, endless spamming Falcon 9 can get Starlink to what uh 20 billion run rate or something, $10 billion run rate. Um, you can you can clearly build a business off of the existing capability. Uh, lots of excitement around Starship. There there was a little bit of uh like spice in the timeline from, you know, Everyday Astronaut because he was sort of like rooting for a scrub and everyone was like, "Oh, he's like against SpaceX." But he was like, "No, I was like, I'm such a fan that I wanted to be there in person. I couldn't be there in person." So, I was like, "I hope that they scrub because I want to be there for this historic moment." Um, so little bit of like a misconception there. Uh, SpaceX said in its filing that it foresees 28.5 trillion, yes, trillion in market opportunities, including data centers in space. Is anything more bullish than the future just being enterprise software? Like you paint this massive picture. We're going to Mars. How are we going to make money? Enterprise software. 22 trillion of enterprise software. >> We're going to be automating workflows for the enterprise. >> I guess forever. Mr. Musk in January was awarded 1 billion performance-based restricted shares that will vest if his company quote establishes a permanent human colony on Mars with at least 1 million inhabitants. Do robots count as inhabitants? Do agents count? Isn't that Isn't that one one of the potential? >> You got to get a a million. This is why he's working. >> Isn't there a list of like five or six things and he just has to do like four? >> Uh I don't know. I I haven't dug into that particular one. Uh I I I know for Tesla there were a whole bunch of different milestones. Uh the humanoid robots was was one of the stretch goals, but permanent human colony on Mars with at least 1 million inhabitants. That's exciting. That's a good goal. Like that feels I don't know that like a whole lot of enterprise software and a million people living on Mars. That's a vision I can get behind. I'm into that. I like it. What was the market cap of Tesla at IPO? >> It was sub 10 billion, right? >> Was it uh Tesla's uh Tesla >> 1.7 >> Whoa. 1 point 1.7 billion. >> Yeah. >> Are are you >> Is that an is that a market cap for >> you got a thousandx if you just were a day one IPO believer? >> I mean that's how you build a retail army. >> So SpaceX I mean million people on Mars. We could be looking at 1.7 quad potentially. Anything's possible. I don't know. You get a th000x from here. If we get to Mars, that's a big big uh big opportunity. >> That is so crazy that you could buy an Elon company in the public markets at less than a $2 billion market cap and many people did not. I owned a little bit of Tesla at some point, but there were so many moments when it was like so wildly disconnected from other car companies or other like like it was never a uh like a Warren Buffett buy. You know, there were always good reasons not to buy it. >> Instead of going to high school, I just bought the Tesla IPO using the money I made from mowing lawns. >> Yeah, you should have just been a lawn mower who DCA into Tesla the whole time. Probably be pretty retired right now. I mean, there's a lot of people that did that. There's a lot of people There's also a lot of people that put money down to buy cars and then they didn't buy the stock and they're like, "Ah, the car depreciated and I should have bought the stock." Anyway, um let's check in with the uh the Starship launch because SpaceX pro postponed the launch of the newly redesigned Starship, but hardly a headline if it's just a one-day postponing because uh these things happen all the time. But it's completely redesigned. It's 400 feet tall and it stood on the launch pad at the company Starbase Complex outside Brownville, Texas. But engineers had to troubleshoot problems that kept cropping up to the end of the countdown for the flight. According to a SpaceX liveream, SpaceX chief executive Elon Musk later said in a social media post that a hydraulic pin on part of the launch tower didn't function correctly. The company could try the flight Friday if the problem is fixed overnight. So, they worked all night and they fixed the hydraulic pin on the launch tower. Wow, talk about complex. Uh, the test mission was set to be the first flight for Starship V3. This is the third version. Redesigned SpaceX vehicle intended to deploy bigger satellites and one day help the company potentially settle Mars and mine asteroid. Starship is bigger and more powerful than any rocket ever built. The company has sketched out a future in which Starship flies thousands of times per year. Of course, the the uh the the the Mechazilla tower that grabs it, the the chopsticks, that's very key to being able to stack these quickly. You can't uh rebuild all the infrastructure. The reusability is key to flying regularly. Uh the rocket has yet to fly any customer satellites after three years of intense tests that we know of. The real conspiracy theorists, there's conspiracy theorists that think space is fake, nothing's happening, they're not actually going, the satellites don't exist. And then there's other conspiracy theorists that think, "Oh yeah, when they crash, they're actually deploying secret satellites and there's more stuff in space than we think." So pick your tinfoil hat theory. We'll let you be the judge of what's really going on. SpaceX's growth plans depend on Starship according to its IPO perspectus. The document filed Wednesday listed Starship first among the risk factors facing the company. Interesting. Okay. So, so a little bit more credit for you because I was like, "Ah, it's not that big a like care more about the data centers. just mean the optic the think about like the optics and uh some investors are super you know a little bit uh >> it is interesting like like clearly if if SpaceX is listing Starship as the first risk factor it means like oh yeah like Colossus like we're going to be able to do that like that's not that hard like we can we we can build a big data center they have possible >> and and and there's less of a risk factor of like we're not going to be able to monetize that or we're not you know because there is there are a group of investors out there that are saying like Oh, token prices will collapse, GPU depreciation, it it'll get blocked, there'll be a data center ban, like they won't be able to ramp up their terrestrial efforts. >> God forbid like a, you know, catastrophic, you know, explosion >> be dramatic. >> There would that would be, you know, potentially an omen that certain people would looking into, but >> I have full faith. >> Uh, they estimated in its IPO filing Wednesday that it has spent 15 billion dollars developing Starship. Well, that makes a lot of sense why there's losses if you've been investing this >> EJ D Saul. >> Yeah. What's going on with >> slid to Elon's DM? >> Oh, yeah. >> In the bid land lead left the IPO >> with banks jockeying to get their name first on the deal for SpaceX's IPO. Solomon worked with staffers to message must directly. He's like, "All right, guys, help me out here. How do I send a message on X according to people familiar with the matter?" So, he's putting in the work and he says, "Wow, this is how you work for the bag at Goldman Sachs." >> Uh, David Solomon also had a piece in the New York Times saying that the AI apocalypse, uh, NYT was overrated. AI is a job creator, David Solomon says. He says, I'm the CEO of Goldman Sachs. The AI job apocalypse is overblown. We'll see what he's saying in a couple months. Ken Griffin sort of flipped. Although Ken Griffin hasn't gone as far to say that there's a job apocalypse. He was just saying that the models went from like slop to usable, but he hasn't actually opined on whether or not that will change Citadel's hiring plans or his view of the American. >> He also specifically said he was very excited that all of his software engineers were more efficient because he said there's no like cap on how much software >> I was there. I was writing Visual Basic. It was brutal. I would have loved Codeex and clock code. I would I would have been I would have been working for one minute a day instead of an hour a day. >> You could have had Codex back then just like a private private instance of it. Yes. Uh you would be currently >> time traveling back in time just to become the most productive intern of all time is elite. >> That's something that's something you would actually do. >> Oh, it would be so so much fun. Maybe that's what the the future will hold. Uh intern simulator. You get to you get to go into VR and simulate being the most elite intern with uh with time travel technology. Uh anyway, >> should we talk about the World's Fair? >> Uh yes, we need to talk about the World's Fair. Tyler, you gave this a read. World's fairs. Has someone tried to bring these back? This feels like a tech new media. We need a World's Fair thing. Like I I could see this being something that someone tries to revive, although it' probably be a lot of screens these days. But at the World's Fair of there were a lot of cool technologies, a lot of hardware, a lot of interesting exhibits. And we'll go through uh I don't know how much you've studied the World Fair in the past, but uh the Wall Street Journal has been reflecting on the United States of America at 250 years with a whole bunch of articles that look back and contextualize American history. And we'll go through this one on the World's Fair right now. So among the groundbreaking innovations unveiled at US-hosted exhibitions were the telephone, the Ferris wheel and the electric and electric lighting. Ferris really crushed it on the naming thing. Whoever, you know, Alexander Graham Bell invented the telephone. Uh Thomas Edison invented lighting mostly. Those guys did not bake their name into the product nearly as well as Ferris because it's capital F. And I believe Ferris is the one who invented the Ferris wheel. Anyway, before splashy Silicon Valley product launches in the annual consumer electronics show, the world showcased the its latest in innovations at high-profile worlds fairs. These exhibits held every few years, beginning in London in 1851 gave countries a public platform to showcase new technologies, products, and ideas that were going to reshape daily life for host countries and cities. The world's fairs or expositions were an opportunity to own the world's fair sharing project. >> The person that invented the ferris wheels full name was George Washington Gail Ferris Jr. >> That's pretty elite. >> There's nothing stopping you from naming your child George Washington and then just slapping your your own last name at the end. >> Yes. Yes. >> I I mean my name >> George Washington Cosgrove. >> My John Tyler was the 10th president. >> Oh, true. Yeah. There you go. >> That's my name. There we go. >> Okay. So, many of the big expose were commemorative, says Paul Greenhull. Greenh Hall, a British historian and author of two books on world's fairs and expositions. Uh, but all of them ended up doing something else. They changed the shape of cities. Much like the Olympics today, World's Fairs were large-scale planning efforts and economic investments as much as cultural events. Cities competed for the right to host them. Chicago was able to redefine its image from a gritty second city to a cultural and architectural hub. after defeating New York in the bid for the 1893 exposition. Here's a look at the US hosted world's fairs that left the deepest marks. So, Philadelphia starting in Philly. >> Philly >> 1876. You're not going to believe what was what was shown, what was celebrated. We had two key technologies. Telephones and catchup. >> One was disrupted much faster than the other. >> Yep. >> I would say that the telephone has basically disappeared. smartphone, text messaging, telephone's not doing well. It's on its last iPhone has not really made >> gained ground inroads. No, ketchup is still >> even ranch kind of went on a run, but >> really >> mustard ultimately it's a compliment, not a substitute. >> There are very few people that say, "Oh, I don't need the ketchup at all. >> Just the mustard. >> Just the mustard, please." Most people they >> I don't know. I do think mustard is is better than ketchup >> than ketchup. Interesting. You can believe that. Yeah, >> America's first officially sanctioned World's Fair, the Centennial International Exhibition, arrived when the country was still defining its place among industrial nations. Unlike earlier European fairs built around single monumental halls, the Philadelphia event spread across a vast park with hundreds of structures. It was sort of like the Coachella of its time. >> Uh, among the most notable exhibits were the telephone. It was initially greeted with skepticism, but the potential of the cool contraption quickly drew attention. Once people realized what had been invented, it became clear how important it was. Uh, the fair also showcased Thomas Edison's automatic telegraph as well as machinery such as the typewriter. Imagine you just create the automatic telegraph and then you go to launch it and demo it and somebody invents the telephone. She's like, "Really? Really, dude?" And consumer packaged goods such as Hines tomato ketchup. It normalized the idea that private companies, innovators, and even governments could present their work side by side. A model that amplified the country's entrepreneurial culture. I love that. Chicago 1893. You're not going to believe it. You're not going to believe the two technologies that are >> We got We got to call call balls and strikes here. A little bit more underwhelming. >> Yeah. But I don't know. I think >> Tell people what was tell people was inventions last time. Remember, we created telephones and catchup, right? And so fast following this with the next fair. We create the >> No, no, no, no. It's not fast following. 1876 almost 20 years later. >> Almost 20 years later, they're like fast takeoff. It's We're so early. Telephones cooking. What do we got? >> The ferris wheel and popcorn. >> Popcorn is pretty good. >> Ketchup before popcorn. Pretty good. Pretty good. But yeah, ferris wheel. Ferris wheel. >> Imagine the hundreds of people that came there to demo their inventions. >> If you're in telephones, pivot to ferris wheels. There's a whole there's a whole industry. Oh yeah, ferris wheel. That'll destroy the telephone. You got to get on the ferris wheel. It's the new thing. Like it is total stag. >> It is sort of funny that like in like if you were to look back if we had a world's fair, you'd have like creatine gummies >> and like AGI, right? >> Exactly. So in 1893 they had the ferris wheel in popcorn and then you fast forward to today it's like we we found a way to put one of the >> micronutrients in steak >> into a candyshaped supplement and we need you to eat four or five of these a day forever. >> 2020 World's Fair. We have rockets that land and we also have >> all birds. >> All birds. What? What else came out that was very silly? Uh, board apes. We have We've invented board apes. >> Skiims shapewear. >> Shapewear and GLP1s. Uh, somewhat related. I don't know. >> Uh, Buffalo, New York, 1901. >> Okay. >> An electric city. >> This seems pretty elite. This is pretty huge. 1901, >> though. Remembered mostly as the location where President William McKinley was shot. He died a week later. Buffalo's Pan-American Exposition was meant to showcase. >> He was shot. >> He was shot at the World Fair. That's crazy. Fact check that. Buffalo's Pan-American Exposition was meant to showcase America's dominance and innovation, electrical power and infrastructure. The fair featured electric lighting and electric street cars powered by hydro electricity generated by Niagara Falls, reflecting a moment when electricity was beginning to move from novelty towards widespread utility. >> Okay, so this is 1901. >> 1901. >> And remember in 1876 we created the telephone and you fast forward to the next event in St. Louis in 1904. You're not going to believe what we remember the 1904 World's Fair. >> Computers, we created electricity and they're like, "We got something better. What do we got?" >> We now know this this World's Fair as a snack food extravaganza. >> It's really just a creatine gummy. >> It was It was sort of a Cambrian explosion of snacking. >> Yeah. I mean, this is the nature of our show. It's like cerebras and groons. Like this is this is like this is actually what what happens in America. >> The Louisiana Purchase Exposition was among the largest ever stage and nearly obliterated the city's finances. >> Oh no. >> Still, its pop culture influence endures. The exposition popularized a host of snack foods that would become staples of American life, including ice cream cones, peanut butter. Oh my, they went on an insane run right here. ice cream cones, peanut butter, hot dogs, hamburgers, and cotton candy. Elite. While the foods weren't all invented for the fair, they're widespread availability there. Like, it's so funny. So, so people are coming there again to share their their their their actual innovations and then like snacks had just come online and so you can imagine like it just turns into a snack conference where everyone's just snacking like crazy. They're like, "Wait, we have hot you can go to a hot dog stand and then you can go get cotton candy in one place. Yeah, >> you got to be kidding me. Uh, fast forward 1962, Seattle >> space race. >> The space race. >> That's exciting. >> The World's Fair, uh, by the mid 20th century, the World's Fairs had become games of one upsmanship. I like that. In geopolitical rivalry, >> feels like where we're at today. >> Seattle's Century 21 exposition took place in the shadow of the Cold War following the Soviet Union's launch of Sputnik in the world's first artificial Earth satellite. The Soviets turned down an invitation. They turned it down. >> Turn it down. >> Turn it down. Uh the federal government became deeply involved. There was a sense that America needed to demonstrate technological leadership. >> The Space Needle was constructed for the fair. >> I recently saw the inside of the Space Needle because wait, no, that's uh not the Space Needle. It's the Toronto version of the Space Needle because didn't Drake film a music video inside of it? >> He iced it Oh, he did. >> He made it Ice Blue >> because he's Ice Man or something. That's the name of the album. Um, and inside you can see all of the broadcasting equipment and there's these huge radio dishes inside. It's very cool. >> Anyway, >> uh, fast forward just a few years, couple years. You're not going to believe what you're not going to believe what they created, what they announced at this World's Fair. >> 64. >> They invent 1964. More than just under a hundred years since the telephone was invented, we invented punch cards. >> Punch cards. >> Uh which which feel like a kind of early version of of enterprise software in some way. >> True. >> Um world's fair at Flushing Meadows, New York City. Yes. Records. >> Uh visitors were dazzled by color television demonstration and the picture phone. an early video calling system. >> It had FaceTime. >> Yeah, they created FaceTime. This is sick. This is crazy. >> I can't believe >> when I told Jordy 64 they invented FaceTime, he was like, "Did it use mirrors?" >> And he thought it was just a periscope. >> Just a mirror that you look at. >> Periscope? No, no, no. It's like it's like a series of mirrors that bounce my image across like so you can be in the other room and you can see me and talk. No. Uh, no. They had full video calling. I guess AT&T's picture phone which added video to telephone calls. >> Yeah. So, so it cost uh $16 to for a threeminute call. >> That's $121 today's in today's money. >> That's expensive. >> Yeah. $40 >> token maxing. I wonder if I wonder if there were CEOs at the time who were like, "We need we need to be if you're not if you're making $10 a year and you're not spending $20 a year on your picture phone, you're not going to have >> I wonder if they were talking about Jeban's paradox." >> Yes, probably. I don't know when >> the last officially sanctioned world's fair in the US was hosted in New Orleans in 1984 and it produced no truly defining te technological debut or >> stagnation theory undefeated brutal >> by that point of world's fairs had largely migrated elsewhere to museums television theme parks and technology conference as a result the world's fair concept gradually faded putting on an expo is a lost art the author says but when America needed it no one did it better. Yeah. >> You could bring something like this back, but I feel like it would end up being like u to a tech conference. You know, >> I wanted to talk about the robotic legs, the exoskeletons. Would you rock these or would you be sitting it out? The Hypershell X Ultra S is an exoskeleton that the Wall Street Journal demoed. >> Thousand watt hips. >> Thousand watt hips. You wear these and they help you hike and run up hills. >> I listen to too many shows with with Paul Mlucky where he talks about uh the the capability of an Iron Man suit potentially just ripping you apart and so I would be a little afraid. Uh but yeah, also imagine, you know, uh bad actor. Remember all the DJI drones had like a back door? >> Yeah. >> Bad actor takes over your your your and then it makes you Michael Jackson in badly in front of your peers. >> Potentially potentially >> could be wildly embarrassing. >> Also, Cattle CL the Chinese EV battery giant is investing in DeepSeek. Uh some big rounds going on. And also by waking up remember this is what AI20 they predicted that BYD would get an F1 team which is what happening which is what's happening. At least they're in talks. BYD is in talks with Christian her over entering F1. That would be pretty crazy. Does BYD have any uh gas powered ice engines? I don't know. >> They're about to. >> They're about to. Who knows what else is going. Go have fun. We'll see you Tuesday. >> Have a good rest of your day. Have a great weekend. Leave us five stars on Apple podcast and Spotify. Sign up for our newsletter tbn.com. It's >> been an honor >> and we will see you >> tomorrow weekend. We love you. Goodbye.