FYI - For Your Innovation

In this episode of The Brainstorm, Sam and Brett cover a week of exciting developments. Brett was at the Tesla Roadster unveil in person and argues the event was primarily marketing for a prospective SpaceX Tesla merger, pointing to the swapped order of the earnings calls, SpaceX executives quietly following Tesla accounts over the weekend, and the window a shareholder vote would require. Then to CoreWeave, whose bonds are trading at a fifteen percent yield after being raised at nine, with no visible softening in Graphics Processing Unit (GPU) demand to explain it. Brett’s suspicion is that a leveraged fund is being liquidated rather than anything fundamental breaking. Plus Anthropic’s reported numbers, why growth decelerating to 340% may still be the most remarkable twelve months of business performance ever recorded, and the non-consensus case that the closed labs are pulling away rather than getting caught.Key Points From This Episode:Why Brett reads the Roadster unveil as potential merger marketing, and what a combined SpaceX Tesla could unlock for both shareholder basesWhy CoreWeave’s bonds are trading at 15% while GPU demand shows no sign of softeningWhy having the frontier model is what lets you build the cheap one, and why trading down to open weight may be the expensive choiceIf you know ARK, you know we focus on long-term innovation. But that doesn’t mean we ignore breaking news. Every day, we debate the latest developments in tech and markets. Now, we’re bringing those conversations to you in “The Brainstorm,” a co-production from ARK, WOLF, and Public. Tune in weekly for our quick takes on what’s shaping innovation right now.Learn more about WOLF: https://wolf.financialLearn more about Public: https://public.com/Disclosure: http://arkinv.st/39rzF94

In this episode of The Brainstorm, Sam, Nick, and Brett work through OpenAI DevDay, where one of the most interesting announcements was the one that never shipped. Ultra Ultra Fast did not reach public availability because the inventory was reportedly sold out to Jane Street, which is paying something like $200 billion per gigawatt for it, several times what Anthropic pays to rent capacity from SpaceX AI. Brett argues speed is becoming its own axis of competition alongside intelligence, and that the pull of enterprise money keeps starving consumer agents of compute. Nick covers Robinhood’s Hood Summit, where retail traders got agentic accounts, paid data connectors, and backtesting, and asks whether that is democratization or lambs walking into a Goliath. Then Starship reaches orbit carrying commercial satellites, and the team sizes up a launch business that could add a billion dollars of annual revenue per flight.Key Points From This Episode:Why Jane Street is paying roughly $200 billion per gigawatt, and what speed as a competitive edge potentially does to AI pricingWhether Robinhood handing agentic trading to retail is democratization or fodder for high frequency tradersWhy full Starship reusability could take launch costs below $100 per kilogram, and what that could mean for revenue per launchIf you know ARK, you know we focus on long-term innovation. But that doesn’t mean we ignore breaking news. Every day, we debate the latest developments in tech and markets. Now, we’re bringing those conversations to you in “The Brainstorm,” a co-production from ARK, WOLF, and Public. Tune in weekly for our quick takes on what’s shaping innovation right now.Learn more about WOLF: https://wolf.financialLearn more about Public: https://public.com/Disclosure: http://arkinv.st/39rzF94

In this episode of The Brainstorm, Sam, Nick, and Brett unpack Meta Connect, where Muse quietly replaced the metaverse as Zuckerberg’s vision for the company. Nick walks through the hardware spread, from audio-only Ray-Bans with no camera, to a 100 gram VR headset at $1,300 that outspecs the Vision Pro at a third of the price, to the Muse Charm, a Tamagotchi-style agent device shipping for the holidays. Brett argues the real target was never virtual reality (VR) but Apple, and that loosening the smartphone’s grip is worth more to Meta than any single device. Nick counters that the three things people actually do on their phones are untouched by any of it, and that Meta should just build a phone. Plus whether consumer agents arrived a graphical processing unit (GPU) generation too early, and why owning the consumer may be the best dollar Meta can spend and the one Wall Street would hate most.Key Points From This Episode:Why Meta’s $1,300 headset outspecs the Vision Pro, and why that may not matter if nobody wants VRHow agent devices erode Apple’s ecosystem lock-in without ever replacing the smartphoneWhy consumer agents may take five years to monetize, and which balance sheets can fund the gapIf you know ARK, you know we focus on long-term innovation. But that doesn’t mean we ignore breaking news. Every day, we debate the latest developments in tech and markets. Now, we’re bringing those conversations to you in “The Brainstorm,” a co-production from ARK, WOLF, and Public. Tune in weekly for our quick takes on what’s shaping innovation right now.Learn more about WOLF: https://wolf.financialLearn more about Public: https://public.com/Disclosure: http://arkinv.st/39rzF94

In this episode of Bitcoin Brainstorm, Rod Roudi, Cathie Wood, and Lorenzo Valente are joined by Rob Hamilton, Seth For Privacy, and Dhruv Bansal to discuss how rapidly advancing AI models are changing cybersecurity and Bitcoin security. The group examines the Coldcard vulnerability, the growing capabilities of open-weight models, and the resulting shift in the balance between attackers and defenders. They discuss AI-powered code auditing, self-custody and hardware wallet risks, the importance of domain expertise, and how teams can build continuous security systems around their software. The conversation also explores quantum computing threats, Bitcoin’s resilience, and why AI could ultimately strengthen software security.Guests on this month’s Bitcoin Brainstorm include:Cathie Wood: Founder, CEO and CIO, ARK Invest Lorenzo Valente: Director of Research, Digital Assets, ARK InvestRod Roudi: Founder, Bitcoin ParkRob Hamilton: Co-Founder And CEO, AnchorWatchDhruv Bansal: Co-Founder And CSO, UnchainedSeth For Privacy: COO, Cake Wallet And RadarKey Points From This Episode:How falling inference costs, rapid model advancement, and open-weight models have unlocked a new level of capability in software vulnerability research.The Coldcard weak-entropy vulnerability, and why we believe it represented a software and vendor problem rather than a failure of the Bitcoin protocol.The trade-offs between self-custody, third-party custodians, ETFs, hardware wallets, and multi-vendor multisig—and why security demands ongoing vigilance rather than a "set it and forget it" approach.Why we expect AI to benefit defenders more than attackers, from continuous repository scanning and faster audits to preparing Bitcoin for potential quantum computing threats.Learn more about Bitcoin Park: bitcoinpark.comEditing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com)For more updates, follow us on:X: https://arkinv.st/3corDiYLinkedIn: http://arkinv.st/1f7AiVXFacebook: http://arkinv.st/3r4EDOUInstagram: http://arkinv.st/39td8bODisclosure: http://arkinv.st/39rzF94f

In this episode of The Brainstorm, Sam and Brett unpack Tesla’s Cybercab launch, a two-seat vehicle with no steering wheel and no pedals that Brett believes can operate at roughly 25 cents a mile, a level at which Waymo may not be able to stay gross profitable. They settle the debate over why Tesla would sell Cybercabs at all instead of owning the fleet outright, and what a 4.5x jump in robotaxi app users on the back of a deliberately low key event says about demand at half the price of an Uber. Then the team turns to OpenAI’s Astra, the model release behind a solution to Navier-Stokes, and why Brett thinks the closed frontier labs eating their own caviar are pulling away from open weight models rather than converging with them. Plus Apple’s folding iPhone Duo, which neither host is buying, and why they believe the Apple Watch is the more interesting announcement.Key Points From This Episode:Why the Cybercab could run at 25 cents a mile, and what that price does to Waymo’s economicsWhy Tesla is selling Cybercabs to third party owners instead of keeping every mile for itselfWhy we believe closed frontier models are pulling away from open weight models, and why Apple’s walled garden becomes a liability in an agent driven worldIf you know ARK, you know we focus on long-term innovation. But that doesn’t mean we ignore breaking news. Every day, we debate the latest developments in tech and markets. Now, we’re bringing those conversations to you in “The Brainstorm,” a co-production from ARK, WOLF, and Public. Tune in weekly for our quick takes on what’s shaping innovation right now.Learn more about WOLF: https://wolf.financialLearn more about Public: https://public.com/Disclosure: http://arkinv.st/39rzF94