All the crap you never needed

October 30 2026 Sacks is back Anthropic S-1 Filing for IPO Seems to be the greatest business in the history of entrepreneurship Ticker: ANT Looking to raise $100B Largest IPO ever SpaceX raised $85B in June Valuation: $1.5T-$2T Revenue - $16.3B in FH2026 Claim TAM of $40T Projecting $100B ARR by EOY Lots of cash 7 founders will hold 50.1% of voting power Biggest venture outcome of all time Fastest value creation of any venture backed company in history Likely biggest business success ever Enormous wealth creation event Extraordinarily cash efficient business Still have ~$100B cash/cash equivalents Margins have been improving Gross margin 85.4% They are showing 10x improvement YoY in delivering task at low cost or efficiently Framework of their business Raw compute Compute multipliers - better architectures, efficiencies, etc Refutation of folks who say open models will end them, etc Crazy customer ramp u...

October 29 2026 (from Gemini) Founder & CEO of WHOOP Scaling to 4 Million Members & The Subscription Pivot: Founded in 2012, WHOOP spent 12 years reaching its first 1 million members before hitting an inflection point—scaling to 2 million in 18 months, 3 million in another 6 months, and projecting 4 million members by year-end (supported by 1,200 employees and a ~$10 billion valuation). When WHOOP first launched to consumers in 2017 after establishing credibility with pro athletes, it charged a $500 one-time hardware fee. While user retention was exceptionally high compared to typical wearables, upfront price friction limited sales volume. In 2018–2019, Ahmed eliminated the upfront hardware cost and pivoted to a recurring membership model ($15 to $30/month). Beyond unlocking rapid growth, the subscription model fundamentally altered WHOOP's engineering DNA: instead of being forced into artificial 12-month hardware refresh cycles to generate unit sales (and withholding featu...

October 23 2026 AI Bubble? Ken Griffin from Citadel says yes 1% of companies are responsible for 90% of AI spending Basically startups spending VC money on AI So its almost circular - VCs give money to startups, that spend on AI But this just needs to get diffused into the rest of the economy like AWS did in the past Ramp gave Chamath some cool data You might almost say this push on GPU compute models is traced back to Alex Karp talking about data sovereignty on CNBC Cyber Panic PHP problem White Hat can always win because they have more compute? France riots Riots and burning 143 year old city hall building burned down among many issues Investors dumping French debt Maybe US treasuries being bought more as a result? These are domestic terrorists - not folks who are suffering Seems the immigrants who came in are expecting the government to provide for them France is spending more than peak Communist countries The more the go...

  October 21 2026 (from Gemini) Arvind Krishna (Chairman & CEO of IBM) and Nikesh Arora (Chairman & CEO of Palo Alto Networks) The Quantum Threat & Post-Quantum Cryptography: Referencing DARPA’s Quantum Benchmarking Initiative (QBI)—which has narrowed a field of hundreds of companies down to roughly 13 serious contenders—Krishna estimates a 2030 midpoint for when working quantum computers will break today's standard cryptography. He outlines two critical milestones to watch: first, real-world quantum error correction on a running machine (expected around 2027), which reduces noisy physical qubits into effective "logical qubits" (e.g., 10,000 physical qubits yielding ~200 logical qubits); second, scaling gate computations by an order of magnitude each year from 10,000 today to 10 million by 2029. Because bad actors can steal encrypted hard drives today and wait five years to decrypt them ("harvest now, decrypt later"), and enterprises cannot repl...

October 19 2026 (from Gemini) Co-founder & CEO of Figma Design is the New Code & Product Differentiation: Launched in August 2012, Figma has evolved from a core software interface design tool into a visual platform spanning whiteboarding, slide decks, marketing, and diagramming. Defining design as "creativity meets problem-solving," Field argues that as AI coding models mature, code is no longer a primary bottleneck or competitive moat. Although app store launches are growing exponentially due to AI-assisted development, overall user app consumption remains flat. Consequently, value and differentiation are shifting up the stack to design, brand, marketing, a bold non-consensus point of view, and the ability to elicit a genuine emotional reaction from users. The $20B Adobe Deal & Antitrust Myopia: After building Figma for over a decade, Field agreed to a $20 billion acquisition by Adobe, feeling Figma had finally reached sufficient scale (1,100–1,200 employe...

October 16 2026 Ben Horowitz joins the show #1 VC by AUM apparently AllIn was #1 podcast last week AI Bubble Pop? Coreweave bond sell off Stock tank Chamath, Elon join the chorus Interest rates on treasuries going up seems to be impacting them - rate they have to pay seems higher They have high revenue concentration - 75% of revenue comes from 3 customers Is this volatility or a bubble? Sacks says former OpenAI and Anthropic threaten every single company in the world AI has a deflationary impact Decompilation? We are short on power generation - this might hit everything Need to own land and power Startups will be hurt because of this Might want to pay attention to payback period Maybe does Coreweave cancel their contracts, pay the penalty and move to spot pricing? NEED TO GET LONG ENERGY Anthropic investor day numbers got a mixed reaction Might go public this year Q3 revenue ~$16.8B FCF+ Clearly great company Is it better to raise more money at lowe...