AI-generated — may contain transcription errors.

Dave Morin: Honestly, who's using PHP?

Sam Lessin: This is why, by the way, all of your regional banks shall be hacked.

Brit Morin: Wait, so where should everyone put their money? Like JP Morgan?

Dave Morin: No, Brit, in the ground. There have been periods in the last year where I have access to frontier models that are not public, and it's really crazy. The differential between the feeling of using these things and what everybody's talking about on the internet, there's like a wild gap, and I don't even have access to the true frontier.

Sam Lessin: That demo was literally just someone, they're like, "Hey, can two engineers, like, help us justify merging these companies by sticking some rockets on a fucking car?"

Dave Morin: Exactly.

Sam Lessin: Like, we'll never ship that. It's probably... Like, the car was probably just, like, a rocket shaped like a car.

Dave Morin: But Sam, it's genius. Come on.

Sam Lessin: It's hilarious.

Guest: More or less. Is it no or is it yes? We'll debate the tech that's best. When we get more or less. Dave and Brit plus Sam and Jess put it all right to the test. More or less

Brit Morin: Why, hello friends. Welcome to More or Less. Another week.

Dave Morin: Back at it.

Brit Morin: How's everyone doing? Back at it.

Dave Morin: Let's fucking go.

Brit Morin: Whoa, Dave is energized after being sick last week.

Dave Morin: Yeah, I was so sick last week. I'm sorry, dear listener.

Brit Morin: No, you don't have to apologize, but how's the nasal rin- I got so many nasal rinse comments.

Dave Morin: Back with a vengeance.

Brit Morin: Oh, can I talk about nasal rinses real fast?

Dave Morin: Of course.

Brit Morin: I'm sure everyone would love us to, yes.

Dave Morin: I don't wanna think about your nasal rinse.

Brit Morin: I got into nasal rinses with an LP.

Dave Morin: Oh my God.

Brit Morin: We are debating AstaPro versus Profi, P-R-O-F-I.

Dave Morin: I don't even know what either of these things are.

Brit Morin: I do off-the-shelf DoorDash.

Sam Lessin: All right. AstaPro is what a lot of people swear by. It's for, like, cleansing your nasal passages. It's just like a little shooter that you spray in your nose. But Profi, P-R-O-F-I, is the better version to use. It actually blocks the passageway for flu-

Dave Morin: Neti pot

Sam Lessin: ... no, for flu germs and, and cold germs.

Dave Morin: No, neti pot.

Sam Lessin: Okay, just, listener, you can do your own research.

Dave Morin: Go the ancient wisdom way.

Brit Morin: Here's what we're gonna do, folks. We are gonna blast through two updates. We need bot updates and peptide updates. After that, we are gonna get into some of the meat of the moment. We need to talk SpaceX-Tesla merger. We need to talk what's going on at Netflix. We should probably talk about the widespread PHP vulnerability discovered by OpenAI.

Dave Morin: Who uses PHP anymore? Is it 2006?

Sam Lessin: It turns out everyone. It's, like, all still PHP.

Brit Morin: I'm glad we don't.

Sam Lessin: Save your comments, gentlemen.

Brit Morin: No, we could start there. We'll start there.

Dave Morin: Honestly, who's using PHP?

Sam Lessin: Well, doesn't Facebook still compile to PHP in some crazy-ass way?

Dave Morin: Really?

Sam Lessin: I don't know. There's a whole... They spent, like, billions of dollars figuring out how to, like, do crazy advanced stuff that all just would, like-

Dave Morin: We did all kinds of stuff in the old days to compile PHP into C++ and, like, machine code. Yeah.

Sam Lessin: I guess the question is where the vulnerability is, but, like, this is where we get to learn how out of date a bunch of websites are.

Brit Morin: Pretty much, yes. This is exactly what happened.

Sam Lessin: This is why, by the way, all of your regional banks shall be hacked.

Brit Morin: Yeah.

Sam Lessin: Yeah. Take your money out.

Dave Morin: This is Sam's thesis coming true.

Brit Morin: Wait, so where should everyone put their money? Like JP Morgan?

Dave Morin: No, Brit, in the ground.

Brit Morin: Under your mattress, in Bitcoin.

Sam Lessin: At least Bitcoin's been being attacked continuously for 15 years, so, like, there's some... I mean, like, the things that are going down are the things that are, like, written in PHP from 100 years ago that no one's bothered to attack.

Brit Morin: Yes.

Sam Lessin: And now it's like, "Oh, I can in one line attack all those things and take them down." It's gonna be mayhem.

Brit Morin: That OpenAI had discovered this vulnerability actually leaked, prompting them to then announce they had discovered the vulnerability with the patch. So that's something. I hear there are other apparently system-wide vulnerabilities they have found.

Dave Morin: Of course there are.

Brit Morin: Of course there are. B, this is the best marketing for these frontier models that one could imagine.

Dave Morin: Why?

Brit Morin: There's a new one every two weeks. It's the hugging face thing. It's the PHP hack.

Dave Morin: It's the boy that cried wolf at this point. What should I care about?

Sam Lessin: Here's the funny thing about these leaks. It's the same thing where, like, there was rumors around town forever that OpenAI had, like, done all this, like, math research and was withholding it after the first paper announcement went so badly. The funny thing for me is, like, what is the backlog that's being held in private? It's basically zero days that now private companies are holding, and they're like, "Ooh, we shouldn't tell anyone about these." But the fact they have them and internally people know about them is kinda wild too, right?

Brit Morin: Yeah, that's wild, too. I agree. That's an interesting issue, yeah.

Sam Lessin: It's kinda like imagine that, like, you found the skeleton key to, like, all this shit, and you're like, "Don't tell anyone we have the skeleton key," right? And like, okay. You know, like, it's, like, an interesting social dynamic at this point, too.

Dave Morin: That's the whole thing, right? I mean, that's also the thing with the power of the models in general. In my experience, there have been periods in the last year where I have access to frontier models that are not public, and it's really crazy. The differential between the feeling of using these things and what everybody's talking about on the internet, there's, like, a wild gap, and I don't even have access to the true frontier. I can't even imagine what it's like being on the true frontier.

Sam Lessin: For what it's worth, though, I think this is partially why there's been so many product issues building in the AI world. You remember, like, Dave, when we worked at Meta, which was called Facebook, and, like, we'd have all these features and things that didn't exist yet?

Dave Morin: Yep.

Sam Lessin: And you completely lost track of what consumers were actually experiencing. Like, there was this whole problem associated with this about, like, how do you develop products? You're... I mean, the most rudimentary version is, like, you're on the latest iPhone, but all your users are on the oldest Android phone. That's the easiest. But we're talking about extra features and d- all this stuff. You are seeing, I think, a not great product work coming out of the labs, and I do wonder how much of it is it just, like, they're all using stuff that we're not using, and then they don't actually know what's going on.

Dave Morin: Yeah, for sure. I think this is actually true, Sam. There was a- Time period, like I said, this year where I was using frontier stuff, and it is a shockingly different experience than what everybody does through the currently public paid APIs. Like it's identical actually to the experience you just described at early Meta. And so it stands to absolute reason that these folks are completely disconnected from the reality of the, of the consumer and what's going on.

Brit Morin: So what should they do, Dave? What do you think Sam and Dario should do?

Dave Morin: I actually think you should not allow your internal teams to use the frontier. It's like this famous thing, eat your own dog food. We had to switch to this at early Meta. We actually had to make it default that people are using the non or the public version because we all were losing tracks so substantially of what the actual user experience was. And this has always been a serious problem for engineering and product teams, where if you're using the thing that is only internal, you just... I mean, very quickly, within days, you lose context for what the actual customer is using out there. And so that's what I would do. I would just like leave only the research teams touching the frontier and make the entire org use what's public.

Sam Lessin: In other news, you see PEARL's up at two forty, Dave?

Dave Morin: Oh, nice. You mean this Pearl, Sam?

Brit Morin: Sam, say more about that. Remind people about the Pearl. 20% week over week growth.

Dave Morin: Mm, pretty good.

Brit Morin: This was at two last week.

Dave Morin: Pretty good.

Sam Lessin: Well, I'll say about Pearl, the thing I've been working on for a long time now, and Dave's an investor in now, and a bunch of other folks, that Coinbase did announce a few days ago that it'll be listed soon.

Dave Morin: Oh, really? I didn't see that. Congrats.

Sam Lessin: That's all I'm gonna say.

Brit Morin: Sam, can you remind people what Pearl is for those who don't?

Sam Lessin: No, but the enterprising ones can figure it out and for them-- and do their own homework.

Brit Morin: You can do the one-liner.

Sam Lessin: What if, hypothetically, you could run Bitcoin-

Brit Morin: You hosted a whole event on this. It's not a secret. Yeah, I'm like, "This is not stealth."

Sam Lessin: Eh, you... We're tightly held event. It's not on the internet.

Dave Morin: But it is on the internet.

Sam Lessin: It's kind of on the internet. What would happen, hypothetically, if you could secure a proof of work blockchain as the byproduct of matrix multiplication? Meaning you run your AI workloads, but you get a secure blockchain on top of that as more and more compute resources shift into that space. That's all I'll say for now. But number go up.

Brit Morin: We like it. We like number go up. Okay, so we solved anything else related to security? We just-- We imagine there will be far more headlines around exploits, far more real risk, just m-money spent on cybersecurity. Like where does this end? So much cybersecurity is happening right now.

Dave Morin: It's totally unclear to me how one would invest in cybersecurity right now.

Sam Lessin: Just buy more Cloudflare stock.

Dave Morin: Well, yeah, it's like buy Cloudflare, buy SpaceX, buy only foundation models. It's not clear to me you can build a real cybersecurity company in 2026 because the next model is what you need to secure the cybersecurity, and so I don't know what a cybersecurity company does other than professional services, which is not really a venture scale business.

Sam Lessin: So you guys might like this in terms of cybersecurity. This is kind of a fun one. About a year ago, I tweeted, which then became a seed company when someone decided to go do it, a fun AI era everything gets hacked idea, which is basically you can now pay a service to take your most important documents and photos and stick them in hard copy in a mine in like the North Pole. So that's your cybersecurity. You take your most important memories, documents, et cetera, and with this-

Brit Morin: Oh, at the South Pole.

Sam Lessin: Yeah.

Brit Morin: I think there is an insurance policy to put on top of that, though. I feel like you can extract more money with like what happens if even that gets taken.

Sam Lessin: Yeah, I mean, you'd have to go to like the North Pole to, to get this stuff.

Dave Morin: We're talking like Svalbard, the seed thing that holds all of the seeds.

Sam Lessin: It is literally cold storage.

Brit Morin: Okay, that's the future of security. Well, I will say though, insurance, like AI insurance companies are popping up right and left, I've seen, protecting people from when they do get hacked and like lose all their money.

Sam Lessin: To rehash this one, this goes back to my hobby horse politically of the era, right? Which is these labs need to be carrying enormous liability insurance policies, right? For sure. And right now they're centralizing profits and they're radiating out the risk to all of society 'cause when shit goes bad and all the regional banks get hacked, you have a Katrina style problem, they're like, "Not our problem. Like society, clean up the mess. We'll just take all the profits." That's ridiculous. If you're creating the risk, you should also be responsibility for having the balance sheet to clean it up, which could mean, A, private insurance, meaning you just have to carry $100 billion of insurance if you're doing stuff on the edge that might go wrong for lab leaks. Great for Wall Street, they'll make a fortune on that. Or B, you basically say to them like, "Look, you're gonna force Washington to pay for this stuff anyway, so you guys need to pay in like a few hundred billion dollars a year into like a contingency fund so that when the bill comes due on all of this, there's money to pay for it. Or in the meantime, we can pay down our debt, and we're still gonna be responsible for it later." But there is for labs and lab leaks through to individuals, insurance is great so long as it's actually functional and there when you need it. So yes to insurance.

Brit Morin: I have an update on this liability question because two days ago I got a Google Workspace administrator update notifying me of Google's change in terms to which it being 2026, I just put it into Claude. I said, "Claude, what is Google saying about my agent use?" And not surprisingly, Google is saying I am responsible for everything my agents do if I use their agents, which Seems like a reasonable position for them to have. I'm not sure if it's one that society is gonna be okay with, but Google's at least taken that line, that use agents at your risk. Anything they do is your problem.

Sam Lessin: That's insane. That's like when Grok, like, sued a user for their use of Grok, and you're just like, no. Like, if you run a centralized service, you're responsible for what your agent does.

Guest: That kind of makes me upset with Google.

Brit Morin: Well, if you wanna use Google Workspace, I believe Claude's summary of these terms is accurate, so this is exactly what Google's saying.

Sam Lessin: I'm sure that's what they're doing. It's just, like, an insane framework. I mean, the framework really should obviously be from first principles. If you're running a service, good news, you get premium service revenue, but you're responsible, kinda like for what your thing does. By the way, if you're running open source on a machine you own, obviously you should be responsible. And in fact, if anything, that should be the business model of the labs, is to be like, "Hey, we'll bundle liability and service into one in a way you can trust anyone using your code." By the way, that's a great model for them because then they're basically saying, "Hey, you're using us a little bit 'cause of the edge," but eventually everything becomes a finance company and bank in life. And what you're really using the services for is to shift risk off your organization because if you're gonna run open source yourself, you gotta have the liability insurance for that, and that's expensive. This is the thing that unnattens me about this entire thing is, like, from a first principle's perspective, there's actually a very logical set of conclusions about how this should work, right? I really believe strongly, it's like there's not a lot of room for wiggle. I mean, there's a template here to follow. Unfortunately, like, that's not necessarily what's gonna happen because reality.

Guest: Also, I would pay Google extra to take that for me instead of f- like, I actually would.

Sam Lessin: That's the thing, like, you're buying the liability insurance from them.

Guest: No, I know, but, like, even with the whatever I pay a month right now for all of these services, I would totally pay extra if I knew if my stuff was hacked, if I lost my money, if whatever, 'cause I still haven't connected my personal email to things. I'm like super afraid.

Brit Morin: Just don't put anything in your email. Okay, can I switch gears? 'Cause we are among some of the biggest fans of Tesla in the world. So I have to ask you, Morons-

Guest: How many Teslas have we bought in our li- oh, gosh. Hold on

Brit Morin: ... like, is it under one hands or two hands? One hand or two hands?

Sam Lessin: Oh, no, it's, it's definitely-

Guest: Two hands

Sam Lessin: ... two hands. We've had them every year since they... We've driven Tesla since it launched.

Guest: We like to upgrade our cars.

Brit Morin: Three hands? Four hands?

Sam Lessin: No, no, no, we only ever have two, but we've, like, upgraded them as they've gotten better.

Guest: We have three right now, Dave.

Sam Lessin: Oh, yeah. We have three.

Brit Morin: Okay, so this proves my point. I wanted to establish for the listener that we are among... We're, we're just in the zone here.

Sam Lessin: And how many Teslas have we ever owned, Jessica?

Brit Morin: Zero.

Sam Lessin: Zero.

Guest: You're just wasting your time at this point.

Brit Morin: I can't believe that at all. I think it's crazy. We've had electric vehicles, too. We've had Volts or Bolts or whatever.

Guest: Yeah, it doesn't matter. You've never had a self-driving car.

Sam Lessin: You're actually just wasting your time at this point 'cause you don't need to do that driving anymore.

Brit Morin: I'm saving my organs.

Guest: Your stress levels are definitely 30% higher than ours.

Brit Morin: Guys, I took five Waymos yesterday. I'm okay. I'm doing my part for the self-driving economy.

Sam Lessin: Talk about high tech, low tech. You guys are running your self-driving Teslas. I had to go to the Mazda Miata dealership twice this morning because no one in our house can drive stick but me, and I had to get it serviced. So while you're doing that, I'm, like, going to the Mazda dealership.

Brit Morin: Man of the people right here, taking his sports car to get serviced.

Sam Lessin: I went and I realized I don't think I've ever taken a car to be serviced in my life.

Brit Morin: Did you get a coffee? You have to get your coffee.

Sam Lessin: No, the coffee's at the deal- Mazda-

Brit Morin: Terrible coffee

Sam Lessin: ... terrible. And the pastries are six days old. I left- ... and came back.

Brit Morin: Sam went to Blue Bottle and came back.

Sam Lessin: My takeaway walking in is I was two thing, two insights. One, it was exactly like that television show Tires We Wipe.

Brit Morin: Yes, love it.

Sam Lessin: Second, it's so high tech.

Guest: What's high tech?

Sam Lessin: It was wild. Like, I get home, and, like, I'm waiting for them-

Guest: The Mazda dealership?

Sam Lessin: Unbelievable. I got a text notification, and it's like, "Hey, Sam. Here's a video walkthrough of our inspection," and it has the whole video transcribed of the whole car and all its parts. Then I get another text being like, "Hey, Sam. We noticed this car is in. Would you be interested in selling it to the dealership? Here's an offer." I was like, these guys are teched out in terms of, like, AI uses to, like, tech out a service station. These guys are living in the future of Mazda. I was very impressed.

Guest: Mazda's Japanese, right?

Sam Lessin: Yeah.

Guest: That's 'cause the Japanese are al- always on top of it. But Dave's convinced there's two futures of car buyers, and the middle falls out is the TLDR.

Brit Morin: I haven't even asked the question for this entire segment yet, but we're on part A of the topic. So Brit, make your point, and then we'll move to part B.

Guest: Let me just lay out the future of car buyers. There's either fully self-driving car owners because why would you ever want anything else and get your life back, or there's the super old-school, vintage, stick shift, I want to, like-

Brit Morin: Yeah

Guest: ... my car to be maintained and blah, blah, blah people. And then everything in the middle just goes away.

Sam Lessin: Yeah, I mean, that, the middle always drops out of everything.

Guest: Yeah, 'cause I'm driving the Tesla, and I'm driving a '73 that's fully mechanical. So it's like, you know.

Sam Lessin: A '73. What are you, fucking John Wick?

Guest: A 783.

Sam Lessin: Yep.

Guest: Dave Wick.

Brit Morin: Oh my God. Okay.

Sam Lessin: Anyway, Jess, what's your question?

Brit Morin: Part two of the topic, SpaceX and Tesla are gonna merge, guys.

Sam Lessin: Obviously.

Brit Morin: It is not official yet.

Guest: We called this a year ago.

Brit Morin: To be fair, everybody called this a year ago, but yes.

Guest: But we called it first.

Sam Lessin: Yeah, it's, we can just claim that.

Guest: I put it in my ranking of why I was buying SpaceX stock in our poll, by the way.

Brit Morin: Okay, so Musk is now saying on earnings calls to investors that he thinks this is a good idea.

Sam Lessin: Of course.

Brit Morin: You have SpaceX at roughly $2 trillion, Tesla at roughly $1.5 trillion. Before too long, these will be the same company. Should we care? What does it mean? What do we make of this?

Sam Lessin: No, we don't care. It's, like, the most obvious thing ever, and you knew that the second Elon created that pay package for himself. Like

Dave Morin: Like-

Guest: Remind people, Sam, what you're talking about

Dave Morin: ... I love the way that he announced it. He announced it with this product demo last week, right? That's like the most extraordinary demo of both companies' technologies happening together. Like, it's very clearly that they were timed.

Guest: That demo was literally just someone, they're like, "Hey, can two engineers, like, help us justify merging these companies by-

Dave Morin: Yeah

Guest: ... sticking some rockets on a fucking car?"

Dave Morin: Exactly.

Guest: Like, we'll never ship that. It's probably, like, the car was probably just, like, a rocket shaped like a car.

Dave Morin: But Sam, it's genius. Come on.

Guest: It's hilarious. It's not genius, it's a stunt. Why is it genius?

Dave Morin: It's a genius stunt. Who else is doing anything like this?

Guest: It's genius marketing, is what he's saying.

Dave Morin: Genius marketing.

Guest: But it is funny, I was surprised at how many people were, like, very impressed by this stunt. Yeah, me too.

Dave Morin: 'Cause-

Guest: Like, to me, like-

Dave Morin: 'Cause it's cool

Guest: ... but it's like- Sure ... it's not that cool. It's fine. What? But it's like, oh, it's the same thing as like-

Dave Morin: But Sam, could- do you run a rocket company? Could you do this?

Guest: No, it's, it's cool, but it's the same thing as like at Disney World, the Spider-Man robot that flies across, like, a huge amount of space on their, like, live action show, and it's, like, cra- I mean, like, it's cool, it's physics. Like, I just, I'm not... Everyone's like, "It flies." I'm like, "It falls. It's fine." It's, I get why it's a fantasy.

Guest: I thought it was really cool.

Guest: I don't wanna be... What did Matt Mazzeo accuse me of being of, like it was a horrible pessimist. Yeah, doing a demonstration with rocket boosters in a car captures people's attention.

Dave Morin: They love it. I love it. It's cool.

Guest: This is why you guys are the lesses and we're the mores.

Guest: Do we feel like at all, do we have any qualms about Elon doing this because he does not control Tesla and has always wanted to and this is how he's finally going to control it?

Dave Morin: I guess I didn't totally realize that. Explain this. I think maybe even the listener does not understand this.

Guest: Elon does not control Tesla. He actually wasn't the founder, which, but he's very sensitive to the fact that he's not a founder. Do you remember on Martha's Vineyard? On Martha's Vineyard one night, I tweeted something about that, and it's the only time Elon, like, replied to me and, like, lit me up about it, and I was like, "Oh my God, this is amazing." And then I went back to bed, and then I woke up in the morning and he had deleted the tweet and I was really sad.

Guest: It's a figment of your imagination.

Guest: Yes. But basically, all you had done is point out a fact.

Dave Morin: Are you sure it happened?

Guest: 100%. There were all these people in replies that were deleted being like, "You can't say that. That violates your, like, settlement of something, something," I don't know. It was like this whole thing.

Dave Morin: Yeah, I mean, he was basically the venture capitalist of Tesla, and then became the co-founder, right?

Guest: Yeah. He owns about a fifth of Tesla.

Dave Morin: There's many stories of this in the, uh, in the annals of Silicon Valley, this is a well-trodden move to not be the founder of something and then become the co-founder.

Guest: Correct. It is, though, personally annoying to him and practically annoying to him. You remember that whole pay package discussion where he got sued over his comp? Like, there are a lot of practical and symbolic reasons. You don't wanna do that many earnings calls. This is, like, 100% about what is better for Elon.

Guest: Well, it also makes sense. Like, I've been wondering why my Tesla doesn't have Starlink already. Um-

Guest: I thought you were gonna say, "Why doesn't it have rockets?"

Guest: Well, rockets too.

Guest: This does not make sense. It just is gonna happen. It's just inevitable. It doesn't make sense.

Dave Morin: I don't know, Jess. I actually think it has to happen. I think this is part of the thing going on in this sort of mega trillion dollar mega company thing that's happening, is that you have to justify the valuation and you have to have enough business lines inside of these organizations that they can justify what they're doing.

Guest: Guys, Tesla is also a struggling company. So Tesla stock tells one story, but this is a business that has been under extreme financial pressure from competition from EVs globally, the change of the... Like, this is a company in distress.

Dave Morin: I understand, but if you put Tesla inside of SpaceX, and SpaceX now has a AI foundation model business, a rocket launch business, a electric systems business-

Guest: It's all the options on the future.

Dave Morin: Yeah, it becomes, like, a much different asset. Like, that asset looks very different as an equity than Anthropic does with whatever it is, $580 billion in forward contracts that it has to pay independent of whether or not it can deliver its service.

Guest: You can come up with a narrative that makes sense, but it is just a narrative that makes sense.

Dave Morin: All we have is narratives. I'll say two things. One, to plug Jessica's new app, I'm looking at your Polls app, which is excellent.

Guest: Thank you. The Information Polls, download it today in your favorite app store.

Guest: Wait, is this like Polymarket for The Information?

Guest: It is free.

Dave Morin: It's free. Five questions of the day that it resolve, and you get to see what the world thinks about them. It's actually quite good. Is this a new app, or is it in The Information app?

Guest: Dave, it's a new app, and you've had test flight access for like four weeks.

Dave Morin: Why is it a new app?

Guest: Because we're in the unbundling phase.

Dave Morin: No, you're not.

Guest: Like, get with the... We're gonna rebundle-

Dave Morin: Yes, we are

Guest: ... and then we're gonna unbundle.

Dave Morin: No, you're not. You need the distribution.

Guest: It's great. Anyway, question four today, "Would SpaceX and Tesla have formed committees to explore a merger? Genius move or Musk empire-building?" 83% of respondents say mostly about Musk control. So in this case, your audience is correct. I just did today's response. I hope it didn't move the needle 'cause then

Dave Morin: Can I float one other theory that I actually quite like and I just came up with? There's one other benefit to merging SpaceX and Tesla, if he does it quickly. You wanna hear it? This is smart, by the way.

Guest: I know it, so I'll give you the soundbite. Go for it.

Dave Morin: Well, I'm curious if you actually know it. You wanna write it down? Text it to me and see if I gave the one I have.

Guest: Oh my God. Okay.

Dave Morin: But it's-

Guest: Yes

Dave Morin: ... you know what it is?

Guest: Wait, wait, don't... Let me make sure I text you first.

Dave Morin: Okay, text it first.

Guest: Okay.

Dave Morin: You can just text like three words. We'll see if it's, it's what I was gonna say.

Guest: Did I get it? Did I get it? Did I get it?

Dave Morin: So drum roll. No, his comp threshold, we already talked about that one. I have a new theory that hasn't been, that we already talked about the comp threshold. SpaceX's thing this spring in about six months is gonna be massive fucking unlocks, right, of equity, uh, the people that have been in the private market and people are gonna wanna trade out of it. If the denominator of ownership is bigger, right, meaning you have all the public market Tesla investors plus the SpaceX investors, the percentage of the company overall that unlocks is smaller, which might actually help absorb the massive cliff

Sam Lessin: From people, private market investors

Brit Morin: What do you mean unlocks? I don't, I don't follow what you're saying.

Sam Lessin: There's all this stock that's locked up.

Brit Morin: Oh, you mean after... Oh, I see, the lockups.

Sam Lessin: Half of the stock that I have in SpaceX is locked up. Maybe more, actually, probably 60%. It, there's an enormous cliff unlock coming in the spring, and everyone's gonna say, "You know, it's just supply and demand." If there's an enormous... You gotta, you gotta absorb that somewhere, right? If the enormous cliff, instead of being, like, 80% of the value or 50% of the value of all of SpaceX, is instead 30% of the value of SpaceX plus Tesla, right, because of how the shares go out, that is gonna be a easier pill to swallow, effectively, from a supply and demand perspective. You have all the retail Tesla investors and the denominator is just different. So that's my hot-off-the-press theory that I have not heard anyone say yet for why this merger makes sense right now. Pretty good.

Brit Morin: Okay. I like that. I like that theory.

Guest: I like that theory, Sam. I buy it.

Brit Morin: Also, I do think it's interesting, SpaceXSI, maybe. I mean, it's real data center business. I think, like, there is this element of you stumble into enough things. You don't need them all to work, you just need some to work. You've also got Terafab that makes the silicon that is probably a, a shared business as well. So again, the narrative sticks. I think the question, when Elon sets his sight on a deal, it usually happens. It doesn't necessarily happen without controversy and in the timeframe he would like. If you remember the acquisition of Twitter, which was again sort of-

Dave Morin: He said that, by the way, during the call yesterday. He was like, "Look, I can't... I have no control over this. Over 50% of Tesla shareholders have to vote for this. This is not going to be without controversy." Like, he literally said that.

Brit Morin: Oh, I missed that part. He's smart. He and I, same wavelength, us two.

Dave Morin: Yeah. I mean, he was actually pretty straightforward about it. He's like, "Look, I think we should do this, but I don't have any control over the outcome." It's all subcommittees of these boards, and especially Tesla, like, 50%-plus of shareholders, which is actually a really tall order. To get over 50% of all shareholders to vote on something is very difficult, so it may not actually happen for procedural reasons.

Brit Morin: Yeah, he, he got his comp package through. It'll be okay.

Dave Morin: Did that require the same vote?

Brit Morin: There was a component of a vote. I don't know the threshold. You also have ... It's like, "SEC, listen to me. I'm not manipulating this deal. It is in the hands of the shareholders. Yes, SEC, thank you." Anyway, what do you guys think it's gonna be called?

Dave Morin: X.

Brit Morin: X would be great. We just need to go... It's like when Sky Dance, Paramount, whatever, they're like, "We're Sky Dance." It's like, "Of course you are."

Guest: When my Grok bot is using SpaceX AI, it doesn't make any sense to me. I hate it. It just needs to be one letter.

Dave Morin: I like the idea that h- he'll probably make the ticker symbol XXX.

Guest: Of course he will.

Brit Morin: Why do you like that, Dave? What, what is that gonna do for society?

Dave Morin: It wasn't even my joke. Somebody said that to me last week, and I'm like, "Oh yeah, probably."

Sam Lessin: That's pretty funny.

Dave Morin: Yeah.

Brit Morin: Oh, goodness.

Sam Lessin: It's like, what , what is your retirement accounts in, invested in? It's like XXX.

Dave Morin: The other funny thing he said during the call yesterday was, he was like, "Okay, so it's called SpaceXSI now, so sexy."

Guest: Oh, that's how he named the... That's how he did the Model S, then the Model-

Dave Morin: Yeah. SXSI is sexy. Yeah.

Guest: But he loves sexy.

Dave Morin: Yeah.

Guest: That's all he names things after.

Dave Morin: Yeah. It's funny.

Guest: Guys, here's my theory, okay? After we were in Austin and rode in the Cybercabs, and on top of that, in parallel, me and Dave-

Dave Morin: The Cybercab is so good

Guest: ... me and Dave only driving our self-driving Teslas. I found I am doing nothing but consuming content most of my drives. I'm looking at the screen, I'm watching football games, I'm watching whatever, I'm doing Zoom calls. I think Teslas are becoming the new entertainment, like, vehicles. And so I would not be surprised if eventually he buys Netflix-

Dave Morin: This is a good take

Guest: ... which is under diret- distress, or buys or something else, and makes an entertainment business.

Brit Morin: I think it's a great take from the entertainment point of view. I don't think he'll buy Netflix, although that is our second top-

Dave Morin: I mean, I was so impressed by Cybercab that I was like, "I wanna live wherever I'm on the Cybercab network," because they're that good.

Brit Morin: So what impressed you about Cybercab? I've never been in one. Tell me more.

Dave Morin: It was just basic user experience things. I initially thought I would be s- sketched out by the lack of steering wheel. But within, uh, two days, I was just sitting on the side with no steering wheel and doing email and not worrying about it. And there's just little nuances to the user experience that are really cool. It remembers, like, how you had the seats set up for you each time you get in. And it also, if you have your Spotify account connected to your Tesla account, which anybody who has a Tesla already has that happening, you get into the Cybercab, and the song you were just listening to in your car is playing in the Cybercab just, like, instantly. And so it's just absolutely seamless. And I don't know, there's something nice about that, right? Even the Waymos don't have it totally nailed on a seamless perspective yet, so they really just have identity, all of your preferences. It just works, and it's just really good. They also just feel good driving around. It's kinda nice to be in a two-person one. And I realized using it that, oh, actually, probably the data is that most rides are one-person rides, and so it makes total sense that it's a two-person car. They will need four-person plus, I guess, for families and things, but I would guess if you looked at the data, I've never seen data on this, that it would be the majority of rides, like 60, 70%, are all single-person, two-person rides, I would guess. So it really makes sense for that.

Brit Morin: Does it feel small? Do you feel like you're gonna be crushed?

Dave Morin: No, it feels like a Model Y.

Guest: No, it feels like a Model 3.

Brit Morin: Wouldn't know. Don't know my models.

Guest: Oh.

Sam Lessin: Looks like an R2-D2 to me. Or no, like a C-3PO.

Dave Morin: It's got a huge... The back of it's actually really big. The trunk for luggage and stuff could probably fit five suitcases. Like, it's really pretty amazing.

Brit Morin: This is, like, a good segue to point out that I do feel like my enthusiasm for certain new technology projects ... product has just, like, fallen back to earth in recent weeks.

Guest: Ooh, which ones?

Brit Morin: Is a little bit sad because I had, like, wanted to be a more, and now I'm, like, still a more on some things, but I'm like, "Oh."

Dave Morin: But you realize you're fundamentally a less.

Brit Morin: Yeah. And, and there's so many examples, and I, you know, I have yet to complete a successful credit card transaction on Muse in the last nine days, but we don't need to go into that. But the Waymos have gone a bit mad. They need a reboot. I still love them. They are still the best alternative for me by a long shot. But they get confused where they're going. They start on the right path, and then they go on the wrong path and add, like, 10 minutes.

Guest: That happened to me in a Waymo recently.

Brit Morin: I don't know. There's, like, a little resignation that the... Sometimes you get this, like, joyful exuberance of something new, and you still love it, but then just disappoints you a little bit.

Guest: Well, this is why I also think Tesla, like, long-term wins because you have so much more data of all the Teslas driving certain routes with directions turned on, self-driving. The Waymos only have data from the certain cities they're in, and they just don't understand the most efficient path.

Brit Morin: They did. Like, this is what I don't... Again, if I had more time and a different job, I really would get to the bottom of this, but it's just sort of not a great use of my time. Like, they, like, know where they're going, and they even show you the right path. And then it-- You know what it feels like, and I don't think this is true, but it feels like they've been hacked.

Dave Morin: What's been hacked?

Guest: The Waymo's navigation system has been hacked to take you the long route.

Brit Morin: I feel like the Waymos have... A bug has been introduced that just, like, slightly peeves.

Dave Morin: Are you sure that they just-- It's not that you, like, you pissed w- Waymo, and so they're just gonna make you 10 minutes slower for everything as a journalist?

Brit Morin: I am sure of nothing. I'm telling you what my experience is, which is the Waymo seems like it's on its right path, and then it, like, gets distracted or gets, like, a software thing from, like, some malicious thing, and then it makes these mistakes and screws me up. And then as a passenger, my cortisol levels go up, and then maybe, like, society's less effective. That's what it feels like to me. But I'm fighting it, and I'm still using Waymo. But I wish they would fix it. That's what I got for you. It's how I feel about most technology products at the moment. Can we talk about Netflix for a bit? We don't go deep media on this show because-

Dave Morin: It's a small company

Brit Morin: ... I'd put everyone to sleep.

Dave Morin: It's a small, not important company. Why would we talk about it?

Guest: Um, because it's a very large consumer company. $270 billion market cap as of today.

Brit Morin: Oh my God, it's a peon.

Dave Morin: It's so small, Sam. Basically the size of Cursor. It's like we don't talk about Cursor all that much either.

Guest: Cursor was 60 billion.

Dave Morin: Says Sam, the seed investor, "We could do more on this pod to inspire the entrepreneurs to build any size company that they would like." 270 billion is not small.

Brit Morin: Yeah. I have some words for the entrepreneurs right now, but I'll keep them to myself. Morons, have you watched a Netflix show in the past seven days?

Dave Morin: No.

Guest: No. We were talking about streaming platforms last night. Apple TV releases them too slowly, but the quality is high. Netflix releases them too, too quickly, but the quality is low.

Dave Morin: The quality, you mean like the video quality you care about?

Brit Morin: No, she means, like, storytelling quality.

Dave Morin: The story quality is low on Netflix, and the release cadence is high, and the Apple one is very high story, but not enough.

Brit Morin: But you will wait a decade for the next Severance is basically-

Dave Morin: Yes

Brit Morin: ... what Apple says to you.

Guest: For sure.

Dave Morin: Yeah.

Guest: Yes.

Dave Morin: I mean, Apple has an incredibly high hit rate. It's, it's like, what, 60, 70%? Like, it's pretty incredible. Who's the new CEO of Apple?

Brit Morin: John Ternus.

Dave Morin: Do you think he even realizes that they have a TV channel thing?

Guest: In the first week he was CEO, he went to several Hollywood events, so he very clearly understands that it's a big part of their business.

Brit Morin: With his phone. Is the ph- Is anyone buying the phone yet? Can you yet? No. Next week?

Guest: Yes, you can buy it, but you haven't received it yet.

Dave Morin: I will have it on Friday.

Brit Morin: Yours will get hand delivered by John.

Dave Morin: It will.

Brit Morin: I love it. With some M&M's. Okay. So for those, again, not core tech, but there's been a major, major content shakeup at Netflix.

Dave Morin: What's happening?

Brit Morin: The head of content, Bela Bajaria, is out, replaced by the former head of Fox, Peter Rice, replaced by-

Guest: Ugh

Brit Morin: ... old school legacy media coming in, and many people are out. And apparently, co-CEO Ted Sarandos is unhappy with the quality of programming. So maybe you guys are onto something. Maybe... I don't know. I love The Diplomat.

Guest: But they also laid off 1,000 people or something.

Brit Morin: There's a big shakeup. So what kind of show should Netflix go after? What should be their content niche?

Guest: A24 style actual dramas, dramedies, uh, that have real storytelling, high quality production. Instead, Netflix is going after game shows. I just watched a Willy Wonka game show on Netflix. And they're spending a shitload of money into, in live sports, which, like, I, I actually can understand a bit, but it's just so competitive and expensive. And now they're launching games and podcasts. So they're trying a bunch of things instead of, like, getting one thing right and being the best at it.

Dave Morin: I had this take that went viral over the weekend that I think kind of works for this, and I was talking more about slop at work. The tweet was that there's an insidious new type of slop that's happening at work, where email used to be other people's to-do list for your life, but now that people you work with are driven by their AI agents, which often lack the context to know what matters for them, let alone for you. The human is now asking you for things over email that they think is priority, but actually, like, it feels completely off because email is now other people's agents to-do list for your life. And I kinda think this is also what's happening with Netflix, where we talk a lot about slop and content. Is the content not gonna be, feel creative enough? Is the stories not gonna be good enough 'cause there's so much slop? What about priority slop? Making choices as to what is the priority, and I think this is kind of the thing that Netflix ran into. They used so much data to choose what scripts to fund and what the scripts should have as priorities and sci- it's like these three concepts meshed together will get this audience, that they ended up not focusing on just making great stories. Machine learning AI systems that they've built to, like, choose what to fund have just kind of led them into a slop corner where everything that gets funded is slop now, because it's, like, so pieced up into all these weird buckets. And I think this is kind of the two hands of slop right now. You have your content slop and your priority slop, and you can get lost in either place.

Brit Morin: I buy that. I think it's smart. How do you avoid it?

Guest: Dave hates the slop.

Brit Morin: Remember when he accused you of writing slop, Brit? This, like... It was like such a great moment in the pod. Such a great moment.

Guest: Oh my Go- I'm not gonna open this debate again, but this is one of our marital debates.

Dave Morin: I just think that you need to understand, right? Like, is an agent setting the priorities, or is the group of people working on this setting the priorities?

Sam Lessin: Why do you care if the agent's better than the person?

Dave Morin: Because the agent lacks context a lot, Sam. Like, if your agent does not understand my priorities, mine doesn't understand your priorities.

Brit Morin: And agents don't confront the constraints of time. Like, the agents don't have to worry about the execution. These are VC's general meetings, everybody.

Sam Lessin: It's AGM season, and so just from a where are we in 2026, we as a firm, like, put- started putting together-

Dave Morin: I'm surprised you even do an AGM, Sam.

Sam Lessin: Me too, but we do.

Brit Morin: Do you do one at Offline, or do you guys go to Japan? What do you do?

Guest: We take our LPs on trips somewhere, not during the fall.

Dave Morin: Yeah. We, we don't fill their schedule with more stuff to do in the fall.

Sam Lessin: Sorry we're so basic, but we do one.

Dave Morin: You really are.

Sam Lessin: We carved up, there's four sections, we gave it to the four people who are, like, investing partners to, like, do sections. Everyone wrote their section. I wrote mine, and then I was like, "I'm just gonna see if my bot can, like, take my slides and punch them up and, like, a little bit." So I did that, and I was like, "Wow, that's really good. You know what? What would happen if I just let the bot start from the cover slide and write the entire AGM deck?" And I'll just write and put it in the slides, the entire AGM deck. I didn't tell it anything. It was a single prompt, truly a single prompt. I was like, "Look, I slow AGM, just, like, write the entire investor update deck." It came back, it's stunningly good. It was so much better than the deck we wrote ourselves. I was, like, blown away. So then I had Max lesson my bot, like narrate it and turn it into a video. But it's funny, 'cause you're talking about you don't wanna talk to-

Dave Morin: But Sam, this isn't possible for everyone. You have to also establish the context for everyone.

Sam Lessin: 100%. My bot has way more context on every deal we've done, every thought we've ha- like everything. It knows everything.

Brit Morin: It's all on the internet.

Sam Lessin: But I was just absolutely blown away that his deck is so much better than our deck. And so I just don't wanna, like, stir up in this, like, you can't respond to bots, it's all slop. Like, some of it can be amazing.

Guest: Dave made a newspaper for Offline this week called The Offline Times. So every time we get, like, a new portfolio update or something that comes in-

Dave Morin: It publishes once a day.

Brit Morin: You send it to people's printer? What do you do?

Dave Morin: Jess, I'll send it to you. It's pretty amazing.

Guest: I told some of our LPs that we're gonna start sending them newspapers in the mail.

Dave Morin: High school paper editor in me is, like, very proud of my newspaper that I've created.

Brit Morin: Are you using, like, a page layout or what, PageMaker? What are you using?

Dave Morin: Oh yeah, PageMaker. That's funny. No, it's broadsheet design. It's fully broadsheet design. I'm, like, very psyched about it. Sam, you, you'd probably actually respect this. I'll sh- I'll send it to you.

Sam Lessin: Yeah, send it over. Love that shit.

Brit Morin: Yeah, our son told us he was starting a newspaper to advertise his own Pokemon business. He's, like, very vertically integrated.

Sam Lessin: Which is awesome. He's already figured out vertical integration.

Brit Morin: Yeah. It w- I was pretty proud.

Sam Lessin: And media as a loss leader.

Guest: Our son got his first paid internship this week.

Dave Morin: Is this the part of the pod where we brag about children?

Brit Morin: I, I didn't actually think I was bragging, but yeah, sure. We've t- Most people do not brag about their children in journalism, let me tell you that.

Dave Morin: Isn't that what all parents do all the time?

Guest: Our son really wants the iPhone Duo, so we're making him get a paid internship.

Sam Lessin: Is he working for a bot?

Guest: He's working for a public technology company, and he's getting paid a few thousand bucks to-

Sam Lessin: Wow

Guest: ... do some bug finding and to do some building. He's-

Dave Morin: He's developing stuff.

Sam Lessin: You know, actually, it's a pretty good idea to have some sort of bot that your children can work for as internships at companies.

Dave Morin: It's a good idea, actually. Ooh, let's fund this. This is great. This is a great idea.

Sam Lessin: This is a good company idea. 'Cause you, like, wanna have interns, but you really don't wanna direct them. But a bot could just tell the interns what to do.

Guest: I mean, I bet a lot of companies would pay to get, uh, like, teenage voices on, like, eyes of what they're doing and, like, a different perspective.

Sam Lessin: That was my first company. It was called Zoltar, and we charged little tech companies money to play their games and give them feedback when I was, like, in third grade.

Guest: Yeah, so there's definitely a business to be made here. I don't know if it's venture scale, but-

Sam Lessin: Mine was not a very good business, but it was fun.

Guest: We should do it on the side.

Brit Morin: Okay, guys, couple other headlines. Couple other headlines. So we have Meta earnings beat and stock is up, and interestingly, the implementation of a new class of voting stock so that Mark can retain control and sell his stock. The internet is mildly miffed about this, saying it represents the end of capitalism.

Dave Morin: Interesting. Mark wants out.

Brit Morin: No, he doesn't want out. It's quite the opposite.

Guest: He wants to be able to control his stock sales.

Brit Morin: If he wanted out, he'd just bail. He wants to be able to continue to lead and control the company while selling stock.

Dave Morin: Well, that's what I mean. He wants the money out.

Sam Lessin: Is this about, um, the California, is, is it a way around the California wealth tax, which says you with your, the amount you own?

Brit Morin: I mean, maybe, but I don't think he's gonna dilute himself below the thr- I, I don't think he's gonna sell below the wealth tax threshold.

Sam Lessin: No, no, it's not the wealth tax threshold. That wouldn't work. But there's a thing which is, like, what Parker and, like, some people are really scared of, where, like, based on your voting control, you pay the wealth tax, which will bankrupt, like, the Google co-founders. I wonder if they f- came up with an interesting legal strategy to, like, maintain control while dealing with that problem.

Dave Morin: This is not a great outcome. I understand the intent of this wealth tax thing, and I like Jensen's perspective on it, which is just like, "I've been really successful. Like, I will pay taxes."

Sam Lessin: Whoa, are you a wealth tax nick? You're fucking crazy. Really?

Dave Morin: What does that mean?

Sam Lessin: You believe that the wealth tax is, like, not the end of the world?

Dave Morin: No, no, no, that's... I wasn't done with my point. I understand that there's, like, a lot of sides to this. This is a terrible outcome. People shouldn't have to, like, finagle these crazy structures and things. I don't know, can't we just do this better?

Sam Lessin: How about just, like, not having an asset tax, which is, like, unconstitutional and sucks?

Brit Morin: Everyone seems to think they're coming, even though we've got the election in a couple weeks.

Guest: Just because the number of people that are gonna vote for it?

Brit Morin: I don't think people think this one will pass.

Dave Morin: Just because k- p- people are angry or what? It's like, what's going on in France? I don't wanna get into politics. I don't know enough about this.

Sam Lessin: This is Foucault. It's like, once you can see something, you tax it, okay? If it's hard to see income, then you can see it, you tax it. The state will control what it can see. And so the fact that, like, now wealth is seeable means that... And, like, by the way, K-shaped economy, wealth compounds 'cause capital's compounding fast in labor. It seems i- intellectually inevitable that you end up with an asset tax, but it will also be a fucking disaster, and it's deeply un-American and unfree. So that's your problem.

Dave Morin: The numbers have gotten so big. That's like, I'm very much capitalist, freedom, et cetera, but I can see where people are coming from. Like, the numbers have just gotten so big, Sam. Like, the K shape is enormous, right, at the top.

Brit Morin: I'm pro taxes. I'm just not necessarily pro wealth tax.

Sam Lessin: Oh. Even as a business owner? I thought being a business owner would cure you of that. You gave me this whole spiel about when you, you, you started making money and you realized how high taxes were, that you hated taxes.

Brit Morin: I mean, it's like a adjustment period, but I do not have problems with paying taxes. Yeah.

Guest: The concept of taxes you can be into without the level of taxes that California forces upon us.

Brit Morin: But the wealth tax is different. It's, like, philosophically different, I think. But maybe s- uh, somewhat inevitable. If you can see it, you can tax it reminded me of You Can't See Everything. Now, we don't want to give away too much of the Elizabeth Holmes Nathan Fielder movie. Should we, A, encourage you to see it if you haven't? We've all seen it.

Guest: Yes.

Sam Lessin: Possibly the best movie ever made.

Guest: I mean, is it gonna win Best Picture?

Dave Morin: It might be the best ever. Yeah. It's pretty unbelievable.

Sam Lessin: It's possibly the best movie ever made. You should definitely see it. I don't actually think... People are like, "What do you think?" It's not about Elizabeth Holmes.

Dave Morin: Did you guys hear what the amazing Sian Bannister did on Friday night?

Brit Morin: No. Tell us about the amazing Sian Bannister and what she did.

Dave Morin: So Sian had a private showing, I think, or Long Journey. They had a private showing, and they were like, "There's a surprise, so you should come." And so a bunch of people went. We were out of town. Sadly couldn't go. And apparently at the end, Billy, Elizabeth's husband, was sitting in the audience and just, like, walked to the front of the theater and sat down and did, like, an hour Q&A.

Guest: And it was the first time he had ever seen it.

Dave Morin: And just, like, melted people's minds.

Guest: He had not seen it before that day.

Dave Morin: Pretty amazing.

Brit Morin: Given the themes of the story itself, that is, like, a major move on top of a major move.

Dave Morin: Pretty cool. Yeah. I still don't know how to feel about it. It's like the whole thing, I don't-

Guest: I'm still processing.

Dave Morin: I co- I go back to I got slayed in The Information for having any empathy at all, if you remember, Jess. Like, I did a comment on your original article.

Guest: You did?

Dave Morin: Yeah. I got, like, absolutely slayed in The Information for this.

Brit Morin: We don't slay people. What are you talking about?

Guest: This was way back in the day.

Dave Morin: I had this point of view which is like, maybe she's just a Silicon Valley founder that fell into the hype train, and everyone in Silicon Valley does this. Elon does this, right? Like, this is Silicon Valley Hype 101. And it's funny, after you see this thing, you're just like, "I don't know how to feel about this. I don't know who's..." I guess that's the point of the movie, though, right?

Brit Morin: That is the point of the movie.

Sam Lessin: Well, no, I don't think that's the point of the movie, and I don't... I think this is the one thing th- I think there is some whitewashing of the Elizabeth Holmes story going on right now.

Dave Morin: For sure. That's what I'm saying, Sam, is the point is to make you question the whole thing.

Sam Lessin: The story is such an interesting story about humanity and the nature of being human and reality-

Dave Morin: Yes

Sam Lessin: ... that, like, you lose the fact that then there's hilarious videos of her saying absolutely batshit, just straight up lies all over the place, and the fact that she's probably mentally ill. The story's amazing. It's not about Elizabeth Holmes is my view. It's an incredible movie. Should definitely watch it.

Brit Morin: Highly recommend people see it. It's worth the time.

Dave Morin: It's very hard to talk about it right now without giving things away.

Sam Lessin: My favorite line, though, is... I have seen on the internet a handful of people that are like, "I hated this movie." And they're like, "I hated it. Nathan Fielder is a totally untrustworthy narrator." And you're like, "You are an idiot." Like, like, you-

Guest: That's so funny

Sam Lessin: ... you have just outed yourself as one of the dumbest people on Earth. Congratulations.

Guest: He's the best. That was, he was the perfect person.

Sam Lessin: No, it's not about being a fan, it's about not understanding the entire three-hour movie, being like, "I didn't like it 'cause he's an untrustworthy narrator." You're like, "Yeah, y- y- yeah. That's the point."

Dave Morin: That's the whole thing, man.

Brit Morin: Okay. Well, and you guys have any good weekend plans? 'Cause so everyone should download, we gotta plug Polls. So The Information, we decided there's-

Dave Morin: I'm gonna drive my mechanical car a bunch

Brit Morin: ... Well, let me tell people why they should download Polls.

Dave Morin: I downloaded it and took the poll.

Guest: I never got the test flight.

Dave Morin: I'm psyched about it.

Brit Morin: You can only find out the answers by answering the questions or following me on X, where I'm likely for the foreseeable future to po-

Dave Morin: I learned a bunch. I'm actually surprised by some of it.

Brit Morin: It's a good way to get a pulse on what the insiders think. Step one. But love feedback. Everyone try it. It's free. You don't have to be a subscriber, but you should be.

Sam Lessin: It's great. I'm a big fan of this.

Brit Morin: Thank you. Um-

Sam Lessin: Good job, Jess

Brit Morin: Thank you

Dave Morin: I like that I got the NVIDIA one right

Brit Morin: You, it's like a wisdom of crowds thing

Dave Morin: Or I'm aligned with the crowd on that one

Sam Lessin: You're happy to be as average as everyone else? Is that what you mean?

Dave Morin: Yes, but I am very un-average on a bunch of the others

Guest: We know you're un-average, Dave

Brit Morin: That's good. You, one might imagine layers where you could segment based on what the founders think or the investors think-

Dave Morin: Ooh, that's cool

Brit Morin: ... or the mores think or the less thinks

Dave Morin: Do it

Brit Morin: You know, social, social dynamic

Guest: Oh, yeah. Could we get a More or Less poll on each one of these?

Dave Morin: Or no, it's just what did the mores and the lesses say?

Brit Morin: Yeah, it's pretty good. Okay, Dave's gonna drive his car this weekend. I'm going to Disneyland. Brit, what are you doing?

Dave Morin: Ooh, Disneyland

Guest: Um, I'm an advisor to this event called DOC, D-O-C. It's like the TED for, like, science and health, and there are 200 to 300 scientists and health entrepreneurs all up in Sonoma for the next couple days talking about the future of what's happening in medicine and science. So I'm gonna be there

Brit Morin: Fun. Sam, what are you doing this weekend?

Sam Lessin: I, that would be a question for you. I don't know.

Guest: Whatever Jessica tells him to do

Brit Morin: Okay. Well, dear listeners, I hope you're listening to this pod over w- this weekend. I also, um, appreciate the, the texts I've been getting from the non-peptide among you as listeners every day or so. I get it

Sam Lessin: Oh, yeah. Brit, peptides, you're look- your skin's looking great

Guest: Guys, I've gotten a lot of people telling me I'm peak Brit right now, and I take that as a huge compliment. I've still, now I'm on two weeks of no back or hip pain, and Matt Mazzeo pinged me, the founder of NoHo Labs, and said the same thing happened to him. It's not placebo. His back pain went away instantly, and his snoring went to zero as soon as he started taking the Wolverine blend. So I don't know. I'm just gonna leave that there

Brit Morin: I am forever, when we talk about peptides, going to remind people, these are not FDA-approved, and they are not studied, and they exist in a gray area for some research use where you-

Dave Morin: They are pretty studied

Brit Morin: No, they're not. And so I just want everyone to know that and make choices for yourself. But we gotta balance out the conversation

Sam Lessin: In this case, Brit and I are in the mores. Take them all

Guest: Yeah. Peptide it up

Sam Lessin: They're just short chains. They're great

Guest: It's just a little injection in your butt. You got this

Sam Lessin: I don't do the butt. I don't have enough fat on my butt. I don't wanna do the butt

Guest: What? Why don't you have fat on your butt? Where is your fat?

Sam Lessin: My belly. I'm a man

Guest: Okay

Brit Morin: Okay, now that we've compared the belly and butt fat percentages of two members of this pod, we will say thank you for listening. Follow us on YouTube, and we'll see you back here next week for another episode of More or Less.

Dave Morin: Bye, everyone

Brit Morin: Bye

Guest: Bye

Dave Morin: See you later

Guest: If you enjoyed this show, please leave us a virtual high five by rating it and reviewing it on Apple Podcasts, Spotify, YouTube, or wherever you get your podcasts. Find more information about each episode in the show notes, and follow us on social media by searching for @moreorless, @davemorin, @lesson, @jlesson, and as for me, I'm @brit. See you guys next time