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All episodes← E181E183 →
E182Jun 7, 2024

DOJ targets Nvidia, Meme stock comeback, Trump fundraiser in SF, Apple/OpenAI, Texas stock market

Takes
4
Companies
3
Playing out
1
Going against
1
Who weighed in
ChamathSacksFriedberg
1 bullish2 bearish1 neutral
DiscussedAppleGameStopTexas Stock Exchange (TXSE)

A call is only graded once it's had time to play out and the stock has moved beyond its normal range — long-term views get a full quarter before we'll say they're tracking against.

AppleAAPL+63.3% over 2yr 1mo
SacksSacksCommentary

Sacks is positive on the Apple-OpenAI Siri integration, arguing that combining ChatGPT-4o's language capabilities with iPhone's native speed and app API access could make Siri genuinely useful as an agent for the first time.

If you give it the power of the best OpenAI model and then the speed of running it natively on the iPhone... and then you give it access to the internal APIs you're using to control apps. That could be really powerful because now Siri” ⚑
ChamathChamathCommentarytracking against the call

Chamath is skeptical that the Apple-OpenAI iPhone integration will reinvigorate the iPhone upgrade cycle, arguing the right AI form factor hasn't been discovered yet and expensive iPhones aren't the answer.

The idea that Apple with this $1,000 device is all of a sudden going to figure out that this is why you're gonna upgrade, I think is pretty speculative. And I think they're going to be disappointed.” ⚑
GameStopGME-23.2% over 2yr 1mo
FriedbergFriedbergCommentarytracking with the call

Friedberg lays out a detailed bear case: GameStop trades at ~192x EBITDA with revenue declining 12% YoY, making it fundamentally uninvestable at current prices — it's purely a speculative/meme trade.

this stock is currently trading at about 192 times EBITDA. A business that is profitable and you can say that the profits are stable and predictable and is likely not going to grow very much will typically trade for 7 to 12 times EBITDA. An” ⚑
Texas Stock Exchange (TXSE)private
ChamathChamathCommentary

Chamath strongly supports the Texas Stock Exchange as a competitive alternative to the NYSE/NASDAQ duopoly, arguing it could drive more rational listing requirements and better capital allocation.

I think that the duopoly hasn't created enough competition. So the NASDAQ and, and New York Stock Exchange haven't innovated. And in fact, they've, they've probably been a little regressive in terms of filing requirements, listing requireme” ⚑