Diet TBPN: November 4, 2025

Overview

This episode dives into major developments in the tech and business world, including leadership changes at Sequoia Capital, financial projections for AI companies, the evolving AI landscape in China, and the cultural impact of generative AI. The hosts also touch on market trends, personal anecdotes, and the future of automation.

Notable Quotes

- Bro went out and said venture capital is return free risk and then handed over the keys. - Jordi Hays, on Sequoia leadership changes.

- Quality is degraded to such an extreme degree that I'd rather fast than eat Chipotle in almost any situation. - Jordi Hays, reflecting on Chipotle's decline.

- The public in China is the most optimistic in the world about AI. - Jordi Hays, discussing AI adoption in China.

🐕 Leadership Changes at Sequoia Capital

- John Coogan and Jordi Hays discuss the new leadership at Sequoia Capital, highlighting the generational shift and speculating on motivations behind the transition.

- Jordi Hays humorously notes the outgoing leader's comment on venture capital being return free risk.

🤖 AI Financial Projections and Market Dynamics

- Anthropic projects $70 billion in revenue by 2028, with profitability expected in 2027, contrasting OpenAI's plan to spend $115 billion to become profitable by 2030.

- Jordi Hays emphasizes Anthropic's cash flow projections, noting its rarity among AI companies outside Nvidia.

- Nvidia's meteoric rise from a $100 billion market cap in 2019 to $5 trillion in 2025 is discussed, with John Coogan reflecting on past skepticism about its valuation.

🇨🇳 AI Race: US vs. China

- Jordi Hays highlights China's societal transformation advantage in spreading AI technology widely and deeply.

- The irony of US pressure pushing China toward efficient, open-source AI models is noted, which benefits global diffusion.

- John Coogan questions the scale of the China opportunity for Nvidia, given its computing market size.

🍗 Market Trends and Personal Losses

- Jordi Hays shares a personal anecdote about losing $472,000 short-selling Korean fried chicken stocks, misjudging demographic and dietary trends.

- Restaurant stocks, including Chipotle, are discussed, with Jordi Hays lamenting Chipotle's decline in quality and reminiscing about its former appeal.

🎨 Generative AI and Cultural Backlash

- John Coogan theorizes that artist backlash against generative AI stems from text-driven interfaces, contrasting them with tools like Photoshop that mimic traditional art creation.

- Jordi Hays mentions the rise of AI-generated music, including a Billboard-charting song created with Suno, and speculates on the potential for anonymous AI musicians.