You go to California and sometimes to get a building permit takes you 3 years. You know in New York it's impossible. So in my business it is much easier to build here.What worries me is affordability. The middle class and the working class where do they live. The moment that we build a mid-inccome or affordable housing product it gets consumed immediately.The demand is never ending because people do want to be close to their jobs. They just can't afford to be close to their job. Over the last 5 years, media ...

What was the culture of Microsoft back then? Like for better and for worse, I want I want to know. There were some odd characters, including one developer who drumed his way with drumsticks around his office. And I thought, well, there were some odd characters in computer science at Duke, and that's okay. There weren't very many women, and in particular, there weren't that many technical women. It was like a boy's debate club. You'd go into the meetings and you had to, you know, have your points and know wh ...

Miami is unequivocally one of the great upand cominging cities not just in Florida, not just in America, but in the world. It doesn't come without its challenges, right. I mean, when we talk to a lot of people who are considering moving to Miami, they do talk a lot about the cost of living, the skyrocketing rent, the lack of access to schools, or the fact that there may not be enough of them for how many people are moving down here.That's you're talking about New York City or you talking about Miami. I'm ta ...

The circuit is on the road again today. We are shooting with Melinda Gates. Hi.This is where Melinda bought her first house. We really wanted to show where she came from before becoming Gates. She's a badass.Had perfect weather. You know, I feel like the world knows her as Bill Gates's wife. They don't know necessarily who she was before that.And so, you know, I kind of want to tell that story and talk about who she was before she came into this sort of new big high-profile place. Wow. I feel like she reall ...

Business Expansion & Partnerships - The individual sought Starbucks' approval and aimed to establish a business relationship [1] - The individual's movie theaters were successful in inner cities, demonstrating business potential in urban areas [1] - The individual convinced Starbucks' board to allow him to own Starbucks franchises, becoming the first person outside of Starbucks to do so [2] - This Starbucks partnership provided the individual with credibility and a track record of success [2] Investment & Funding - The individual aimed for sustainability and growth by seeking institutional investment from Cal Pers and Cal Sturs [3] - The individual initially used personal funds for business ventures [3] Urban Market Focus - The individual identified the growth potential of Starbucks in urban America [2] - The individual showcased the success of his movie theaters in inner cities as a viable business model [1]

Team Dynamics & Performance - Preparation starts in practice, mirroring game-day intensity from Monday onwards [1] - Losing should create a strong aversion, fostering a drive to improve [1] - Team unity is crucial; shared success and failure, avoiding hidden agendas [1] - Individual agendas that conflict with team goals are detrimental, leading to losses and locker room issues [2] Leadership & Respect - Respect is pre-existing, facilitating effective communication and influence [2] - Demonstrated success, symbolized by "17 World Series or World Championship rings," quickly establishes credibility [2]

Bond Market Dynamics - The bond market is experiencing uncertainty due to government borrowing, trade wars, and tax cuts [2] - Long bonds, particularly those maturing in 30 years or more, are at the center of concerns [4] - Volatility in the bond market has increased, with yields on long bonds spiking above 5%, nearing the highest since 2007 [6] - Investor demand for long bonds has disappeared, resembling the volatility of meme stocks or crypto [13] Fiscal Policy and Debt - The US is projected to incur another $22 trillion deficit over the next 10 years [3] - Concerns about fiscal spending are driving long-term interest rates up, requiring higher yields to compensate for risk [14] - Government fiscal deficit problems are a ticking time bomb, leading to higher, longer-term yields [22][23] Global Implications - A global movement of rates higher has been observed [18] - Volatility in long-term bonds poses a problem for governments, as investors demand higher yields [20] - Higher yields will affect housing affordability, auto loans, student loans, and credit card rates [21] - The selloff in longer term bonds shows investors that major governments have a huge fiscal deficit problem [22] Long Bond Specifics - Long bonds were popular when investors sought decent yields due to near-zero or negative interest rates in Europe and Japan [8] - Austria Century Bonds, maturing in 2120, have seen their price fall about 75% from their peak in 2021 [12] - Rising long-end yields have increased by some 50 basis points, signaling potential financial stress [7]

Mentorship & Influence - The individual emphasizes the significant impact of mentorship on their career and business ventures [1][2][3] - A three-hour dinner with Irvin, filled with valuable insights, profoundly influenced the individual's path [2] - The individual credits Magic Johnson and Irvin for inspiring them to pursue team ownership and business ventures, respectively [3] Personal Development & Motivation - The individual found inspiration in Magic Johnson's success, leading to the pursuit of team ownership [3] - Irvin's background and achievements resonated with the individual, providing motivation and guidance [2] - The individual expresses gratitude to mentors for their impact on their personal and professional life [3]

AI Infrastructure and Compute Demand - OpenAI recognizes the shift from compute for model training to compute for model usage, highlighting the need for significant infrastructure investment [1][2] - The company is experiencing high demand for its AI services, constrained by available compute resources, and could utilize twice its current capacity to improve product offerings [10] - OpenAI estimates needing $500 billion in compute capacity over the next few years to support growth projections, but is unsure if it could profitably deploy $1 trillion [11] - The company acknowledges a GPU shortage impacting its ability to handle demand surges and launch new features [13][16][17][18] - More compute directly translates to the ability to provide more AI capabilities for various applications [19] Strategic Partnerships and Investments - OpenAI is collaborating with Microsoft for compute resources, but believes the scale of its needs exceeds what any single company can provide [3][6] - The company has partnered with SoftBank for financial support and Oracle for technical expertise in the Stargate project [6] - OpenAI has raised tens of billions of dollars in funding and expresses confidence in its financial sustainability and profitability [12] Technological Advancements and Competition - OpenAI emphasizes the importance of both the infrastructure layer and the top-of-stack (AI models) as its competitive edge [20] - The company acknowledges the existence of other good AI models but highlights that ChatGPT has significantly more users than any other AI service [20] - OpenAI is focused on optimizing all aspects of its AI infrastructure, including chips, energy sources, and algorithms [33] Future Vision and Societal Impact - OpenAI's grand vision is to provide people with tools to enhance their capabilities and creativity [21][22] - The company is particularly excited about the potential of AI for scientific discovery, anticipating significant progress in 2026 [22][23] - OpenAI acknowledges the potential for AI to displace jobs but believes it will also create new opportunities, albeit at a rapid pace [25][26][27][28] - The company aims to make decisions that benefit humanity as a whole, particularly with the advent of humanoid robots [39]

Partnerships & Mentorship - Valuing partnerships and demanding excellence are key principles [2] - Mentorship plays a crucial role in business success, exemplified by the relationship between Magic Johnson and Alex Rodriguez [7][8][9] - Choosing partners who can expand one's knowledge and provide mentorship is essential [25] Deal Making & Investment Strategies - Movement to ownership is a significant aspect of Magic Johnson's deal-making [10] - The Starbucks deal was seminal, providing a stamp of approval and track record for future ventures [15][20][21] - Securing institutional capital, such as $50 million from CalPERS, is vital for sustainability and growth, requiring demonstration of over-delivery and profitability [21][22] - Focusing on urban America can be a profitable business strategy [18][20] - Larger deals are more efficient in terms of time investment, as advised by Ron Burkle [45] - Gut feeling is important in deal-making, alongside data analysis [43] Sports Ownership & Team Management - The Washington Commanders deal is considered the greatest deal, highlighting the importance of local ownership and a winning environment [11][13][33] - Having a 3-5 year plan, strong player relationships, and accountability are crucial for franchise success [30][31][32] - Changing the environment and addressing player concerns are important steps in improving a team [34] - Athlete-turned-owners can connect with players on a different level due to shared experiences and respect [39][41] Personal Growth & Impact - Giving back and making an impact are as important as making money [53]