TBPN

@tbpn · Podcast

Latest segments

• Reddit locks down old.reddit, 2026-10-30
  Reads Huffman's quotes on Google traffic
  Picks up the selloff after Reddit's earnings call and reads the quotes: Google crawls Reddit as hard as ever but AI mode does not drive traffic, and Huffman says the company isn't counting on Google traffic returning. Ties it back to the login-only move.
• Intel's weak Q4 guide, 2026-10-30
  Rounds up Dorsey and Cramer panning the call
  Picks up Intel's post-earnings collapse: down about 30% on the day, 50% off its $140 peak, still a $336 billion company. Rounds up Nick Dorsey and Jim Cramer panning Lip-Bu Tan's call and notes the stock remains above its March level.
• Binance's $6.3B heist, 2026-10-30
  Reads CZ and Musk's exchange after the hack
  Reads the X exchange between CZ and Musk after the hack, including CZ's claim that Binance's SpaceX shares are worth more than a billion and a Binance staffer's reply that yearly revenue covers the losses without selling them. Also notes Chainalysis-style tracking graphics of the stolen funds.
• Binance's $6.3B heist, 2026-10-30
  Breaks down the SAFU fund and frozen funds
  Walks through the Binance heist: the $6.3 billion take, the roughly $1 billion SAFU fund it blew past, the $3 billion frozen by Tether and Circle, and the TraderTraitor attribution. Notes Bitcoin fell only about 4% where Mt. Gox cost 25 to 27%.
• Q3 GDP first look, 2026-10-30
  Reports the 3.4% print against forecast
  Reports the 3.4% summer GDP print against the 3.1% forecast and frames it as the last big economic reading before the midterms, then debates whether voters vote GDP or the stock market.
• Nanuqsaurus auction at Sotheby's, 2026-10-30
  Explains the $47M nano T. rex sale
  Rovell explains the $47 million Sotheby's sale of a nano Tyrannosaurus, well above its $7 million estimate, as a size story: it fits in a normal room. The segment also covers murky fossil ownership in Montana and Utah and the roughly 70% real bone in top skeletons.
• PSA FedEx card heist, 2026-10-30
  Breaks down FedEx's $1,500 insurance cap
  Picks up the PSA heist as a shipping and insurance story: FedEx caps collectible coverage at $1,500, so collectors either under-declare value or fly their cards in themselves. The watch world's fly-to-the-dealer routine is offered as the working model.
• Intel's weak Q4 guide, 2026-10-30
  Covers Intel's 30% post-earnings drop
  Covers Intel's 30% single-day drop after its earnings call, with the stock down 50% from its $140 peak and back near its pre-rally level. Leans on Nick Dorsey's and Jim Cramer's reactions to the call.
• Binance's $6.3B heist, 2026-10-30
  Walks through the Binance heist numbers
  Walks through the heist's numbers: the $6.3 billion take against a roughly $1 billion Secure Asset Fund, the $3 billion Tether and Circle froze, and the $3.3 billion still loose. Notes Bitcoin fell only about 4% over five days, against roughly 25% after Mt. Gox.
• Q3 GDP first look, 2026-10-30
  Reads the 3.4% GDP beat against the sell-off
  Reads the Commerce Department's 3.4% GDP print against the day's sell-off: growth beat at 3.4% versus 3.1% expected, the last major reading before Tuesday's midterms, while Google's worst trading day on record erased $500 billion and pulled the Nasdaq down about 3.34%.
• The Alice Huang spy report, 2026-10-29
  Revisits its Megaspeed takes against the Times
  Revisits the October 10 Megaspeed segment and checks its own takes against the Times report - the state media background, the access to Jensen Huang, the suspicion they stopped short of stating. Frames Malaysia as a compute-diversion canary and riffs on chip arbitrage; no new reporting.
• Alphabet's Q3 miss, 2026-10-29
  Argues search growth is artificial, then concedes
  Uses a viral July 23 post by Max Anderson to argue Google search growth is artificial, then concedes the behavior is sticky and growth is only decelerating slightly. Reaction and opinion hung on the earnings story, with no new figure.
• Alphabet's Q3 miss, 2026-10-29
  Breaks down the Q3 print line by line
  Walks the Q3 print line by line: the revenue and EPS misses, the SpaceX write-down that explains part but not all of the EPS gap, cloud's doubled revenue and $561 billion backlog, slowing search ad growth, the $200 billion capex plan and Gemini passing a billion users.
• Alphabet's Q3 miss, 2026-10-29
  Recaps the market tape and Alphabet's worst day
  Closes the show with the market tape: Alphabet's worst trading day ever, shedding half a trillion dollars in market value, alongside Xbox's 2% revenue decline and Intel's 19% after-hours drop. The Alphabet figure is a new number on top of the earlier earnings coverage.
• Weil Gotshal dissolution, 2026-10-29
  Reads a thread on the partner-confidence spiral
  Reads a thread explaining the wind-down as a partner-confidence departure spiral, not a bankruptcy: fixed costs, portable clients, and equity that walks out the door. Clarifies the firm is working with a restructuring firm to allocate partner stakes.
• Commissary freezer cyberattack, 2026-10-29
  Picks up the Reuters freezer report as a cyberattack
  Picks up the Reuters report on the commissary freezer failures and treats them as a suspected cyber attack, then drifts into IoT jokes and a milkman riff. The French supermarket parallel and the six affected commissaries are the substance.
• The Alice Huang spy report, 2026-10-29
  Replays the Megaspeed segment against the Times story
  Reads the New York Times spy-plot story and replays the October 10 Megaspeed segment, checking which suspicions held up. Adds the detail that Alice Wong was a Chinese state media reporter and that Jensen Huang has not posted since October, but stays inside the reporting already on the record.
• Alphabet's Q3 miss, 2026-10-29
  Pairs the capex line with Microsoft's
  Picks up the capex line from Alphabet's Q3 report and pairs it with Microsoft's: both came in under estimates because of physical delays, not unwillingness to spend. Also works through the viral July 23 post calling search revenue growth artificial, and the rumor that Google's reasoning gains come from RL in games.
• Alphabet's Q3 miss, 2026-10-29
  Breaks down the quarter line by line
  Walks the quarter line by line: the revenue and EPS misses, the SpaceX write-down that only partly explains the gap, cloud doubling to $30.7 billion with a $561 billion backlog, search ad growth slowing to 12%, $200 billion capex guidance and Gemini at a billion monthly users. Frames it as a strong cloud business against a rough market day.
• Instinct's $10B valuation, 2026-10-29
  Weighs the valuation against Cursor's revenue path
  Works the reported $30 billion round against Cursor's path to the same number: Cursor had north of a billion in revenue, Instinct has consumer adoption and no app. Speculates about an Apple, Amazon or Google acquisition and antitrust, and stays inside the valuation story.