AI Investment Landscape - AI is considered a transformational technology, but investors are cautioned to carefully consider the connection between the technology and actual investment opportunities, as history contains examples of great technology that were not good investments [2] - Pure plays in AI are limited in public markets, potentially leading investors to private markets for more opportunities, though this space will have winners and losers [3] - Access to private markets involves direct exposure to software developers and AI tool providers, as well as ancillary providers of hardware, tech, and data centers [5] - Investors are exploring energy stocks, AI hardware, and software stocks in the equity markets, with data centers performing well due to the expected energy consumption of AI models [6][7] Technological Innovation & Market Dynamics - Initial concerns about energy demands for data centers have eased due to innovations like deep sea, which improved efficiency [7][8] - Supply anxieties have shifted to the ability to build infrastructure fast enough, reflecting a return to a market psyche focused on growth [9] - Innovation is continuously improving the efficiency and effectiveness of AI development [11] Global Expansion & Geopolitical Considerations - The US may not maintain a monopoly on AI technology, as other countries, including China, the UAE, and the European Union, are incentivizing domestic development [13][14] - Investors are cautioned against reacting too quickly to geopolitical conflicts, as markets tend to see through such events, especially for countries not directly involved [15][16] - Inflation, particularly related to energy infrastructure and shipping lanes in the Middle East, is a key concern due to its potential impact on input costs for consumers and goods [17]

Stablecoin Adoption and Potential Impact - Major technology, commerce, and financial institutions are paying attention to stablecoin money as a new form of electronic money, especially with legal certainty [1] - Stablecoins are viewed as the new money layer of the Internet, offering innovation beyond traditional money and providing benefits to firms' bottom lines [2] - Circle sees tremendous opportunities to collaborate with major technology firms, payments companies, and financial institutions [4] - Shopify is making USDC payments a default option for every merchant on their platform in the US (1 million merchants in Europe), offering merchants 0.5% cash back [5][6] Regulatory Landscape and Future Legislation - The Genius Act has passed a critical cloture vote and is set to pass the Senate, providing legal certainty for stablecoin utilization at scale [2][7] - The Clarity Act is essential for providing legal clarity on digital assets and blockchains, including how they can be offered and used [10] - The combination of the Genius Act and the Clarity Act could create a rules-based system in the United States, fostering a competitive environment and making the US a hub for technology innovation [11] Circle's Position and Strategy - Circle operates the world's largest regulated stablecoin network and aims to work with everyone to leverage stablecoin technology [6][7] - Circle does not compete for consumers, merchants, or businesses, positioning itself as a market-neutral infrastructure provider [7] - Becoming a public company enhances trust, transparency, compliance, and good governance, which is beneficial for working with leading institutions [13][14]

Semiconductor Industry & Investment - Micron is increasing its investment in US R&D, committing an additional $30 billion beyond previous plans [3] - Micron's total US manufacturing and research projects now amount to under $200 billion [3] - The investment is expected to create 90,000 direct and indirect jobs [6] - Supply constraints exist in the high-bandwidth memory (HBM) market, particularly for NVIDIA's GPUs and hyperscalers [7][8] - SK Hynix is the leader in HBM, but Micron is stepping up to gain market share [8] Fintech & IPO Market - Fintech firm Chime priced above range in its IPO, raising $864 million [1][39] - Chime's active member base grew by over 23% in Q1 [42] - Payments account for 72% of Chime's revenue [45] - Chime has 86 million members [63] Aerospace & Aviation Industry - A Boeing 787 Dreamliner crashed in India, resulting in over 200 fatalities [1][29][30] - The crash is the worst involving a Boeing 787 Dreamliner and one of the worst commercial airline crashes in years [29] - The incident impacts Boeing's stock and complicates efforts to ramp up production of the 737 narrowbody [49][33] AI & Technology Policy - Oracle's backlog of business obligations is about $130 billion [50] - Oracle projects topline growth of 77% within this fiscal year [50] - Mattel is partnering with OpenAI to use AI in toy design, potentially creating digital assistants based on Mattel characters [37][38] - A startup named Nominal raised $75 million in Series funding to build software to test hardware for space, energy, and defense companies [73]

NASA's Role and Priorities - NASA is transitioning from hardware development to an incubator for the commercial space industry [2] - Proposed drastic cuts to the science budget raise questions about NASA's core role [3] - The fundamental tension lies between opening up the commercial sector and pursuing ambitious "moonshots" [4] Mars Mission and Sample Return - The current plan involves investing in new human missions to Mars to retrieve samples collected by the Perseverance rover [5] - Sending a robotic spacecraft to retrieve samples from Mars is considered a highly complex technological feat [6] - Putting humans on a vehicle increases the intensity and duration of development, also risks delays [5][6] Funding and Resource Allocation - NASA should focus on extraordinary exploration rather than funding well testing of private companies' engines [1] - NASA should streamline management layers [1]

Supply Chain & Demand - The industry signals a strong need for supply, with demand outpacing the current production capacity [1] - Hyperscalers are consistently requesting more chips, indicating sustained high demand [1] - Oracle highlights ongoing supply constraints, impacting their operations [12] Oracle's Performance & Strategy - Oracle's backlog is substantial, reflecting a significant shift in the company's trajectory [7] - Oracle's focus on cloud computing provides them with greater flexibility compared to some competitors [10] - Oracle's Cerner transaction and involvement in healthcare are considered interesting and potentially transformative aspects of their business [10] - Oracle's dividend growth is between 10% to 12% annually [11] Tesla & Robotaxi - Tesla is internally targeting June 22nd for the Robotaxi launch in Austin [16] - Tesla's cost per mile for Robotaxi is estimated to be 30% to 40% below Waymo's [18] - Tesla is suing a former engineer regarding Optimus, highlighting the importance of protecting their intellectual property [19] - Tesla plans to deploy thousands of Optimus robots on their factory floors to address manufacturing job shortages [20] US Technology Policy - The US administration is applying an industrial policy to the distribution of technology, balancing promotion and protection [3][6] - Narrowing access to technology could lead to the growth of other ecosystems, potentially reducing the overall market size [4][5] - There is a need to improve the harvesting of rare earths within the US [15]

How do you feel. Chris. We could see a 66% pop in the shares.Wow. I feel great. Today is such a momentous day for all of us here at Chime.We're so grateful to our members who rely on us for their everyday banking. And I'm just incredibly grateful for this team around me that has built a business that we really see as ushering in a new era for banking and one that's aligned with the best interests of everyday members. Chris We made a lot in the show over the years of kind of the down rounds, the valuation of ...

Investment Focus - Notable Capital focuses on founders, providing them with unique experiences and support to build successful companies [2] - The firm is overweight and focused on software infrastructure and cloud infrastructure [4] - AI is central to almost every investment Notable Capital is making [9] - Notable Capital is focused on helping entrepreneurs build global technology companies, particularly in the US market [10] AI and Agent Technology - Agents are impacting companies of all sizes across industries, assisting with software development, sales, customer support, security, HR, and finance [4][5] - Agents require infrastructure for security and monitoring, creating opportunities for companies focused in this area [6][7] - Agents are taking entry-level jobs, but the opportunity lies in embracing AI and becoming proficient users of such technologies [12] Global Strategy - While Silicon Valley is a hub for innovation, Notable Capital is working with founders in Israel, Europe, and Latin America to build global companies [9] - Building a global technology company often starts in the US, with companies focusing on the US market for go-to-market strategies [10] - The next wave of innovative AI companies will be global in nature [13]

Market Position & Competition - ULA is a primary competitor to SpaceX in the United States [2][16] - ULA is a major supplier to Amazon's Kuiper Constellation, competing in the LEO-based Internet market [2] - The space industry needs a broad industrial base with multiple companies to support growing commercial needs and challenges from China [3] - Blue Origin is expected to become the third domestic launch provider [17] Vulcan Launch Vehicle - Vulcan has completed development and is certified for national security and prepared for commercial launches [6] - Vulcan will fly again in the summer, fall, and winter [7] - The company anticipates launching Vulcan in high single digits, less than ten times this year [7][8][9] - Vulcan is almost to Atlas is its 45 spacecraft, which is 27 [5] Challenges & Delays - The development of the Vulcan launch vehicle experienced delays due to an upper stage issue and a structural failure [10] - A nozzle was lost off of one of the solid rocket motors during the second certification flight, further delaying development [11] - Requesting launch dates on the range has become crowded due to commercial activity, impacting slot availability [8] Potential Market Disruptions - Elon Musk's threat to decommission Dragon could temporarily make the US dependent on Russia for space station access [1][13] - Boeing's Starliner is expected to fly again in early 2026, potentially filling the gap if Dragon is decommissioned [14][15]

I'm really focused. An analysis here is what London means for the growth story of Robotaxis. More broadly, why is it difficult to trial run that.Well, I mean, let me start by saying that London is a big market for Uber. They often cited as one of the five most important cities globally, and they're in the earnings calls and they reports. So this is a big development that they are working with their partners to start deploying, rub off, to do planning to deploy roaming taxis in London.But these types of stre ...

How much is riding on these days of talks. How much do you think ultimately does make a decision for you within your portfolio. Yeah, I think we've seen the market react really well over the last couple of weeks to certainly a reduction in some of the tariffs on China and other companies, countries as well.This would be very critical, I think, especially for the tech sector, especially talking about export restrictions. There's certainly parts of the tech sector like NVIDIA, most recently the electronic des ...