Invest Like The Best

What's Still Valuable When Intelligence Is Free

79K views · 3d ago · 1:11:28

Cliff Sosin joins Patrick to explore why even superintelligent AI may have fundamental limits, and what happens when intelligence becomes cheap and ubiquitous. They discuss why the biggest winners of the AI revolution may not be the companies building the models, but businesses with durable advantages in data, attention, and physical infrastructure.

Topics: The Limits of Intelligence · Investing Beyond Cheap Intelligence · Will AI Become Commoditized? · Who Profits From AI? · AI Agents Reshape Competition · America's Capital Markets

How AI Is Repricing Every Software Company

36K views · 1w ago · 1:04:57

Vanta co-founder and CEO Christina Cacioppo returns to discuss what it takes to build an enduring software company in the age of AI. She and Patrick explore the “SaaSpocalypse,” why high-growth, high-margin software businesses are facing collapsing valuation multiples, and the dangers of charging customers for AI tokens.

Topics: Surviving the SaaSpocalypse · The AI Pricing Trap · Rebuilding Software for AI · Silicon Valley's Talent Wars · What's Overhyped in AI · Security at Machine Speed

How He Built the World’s Largest Digital Bank with 140 Million Customers

71K views · 2w ago · 1:20:35

David Vélez, founder and CEO of Nubank, joins Patrick O’Shaughnessy to discuss how he built a bank serving 140 million customers and why he believes the $10 trillion banking industry is still in the earliest stages of disruption. They explore Nubank’s extraordinary growth, the advantages of digital-first banking, and how AI could fundamentally transform financial services by reducing costs and democratizing access to financial advice.

Topics: Banking's $10 Trillion Disruption · AI's Impact on Banking · Building Moats in the AI Era · The Future of Money · Nubank's Global Expansion · Reinventing Nubank with AI

Why Every AI Lab Will Become a Biotech Company | Andrew Huberman

158K views · 3w ago · 1:19:35

Guest: Andrew Huberman

Patrick O'Shaughnessy sits down with neuroscientist and podcaster Andrew Huberman. They dive deep into the physiological secrets of high performers, exploring how founders can manage their energy, downshift after stressful days, and optimize sleep using science-backed tools like non-sleep deep rest (NSDR) and physiological sighs. Huberman also shares his candid thoughts on the current "theatrics" of the public health and longevity space.

Topics: Building Energy for High Performance · How to Fall Asleep · What’s Gone Wrong With Health Optimization · AI Companies Could Become Biotech Companies · Implantable Devices · Memory

The $10B AI Assistant Challenging Meta's Muse, Grok's Bots, and OpenAI's Dots

192K views · 1mo ago · 1:25:27

Some invites to Instinct for our listeners Presented by Ramp Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc

Topics: Instinct and the race for personal AI · What people are using AI agents for · Rethinking travel, reservations, and the internet · Trust, privacy, and personal data · The business model behind Instinct · How existing businesses will adapt

Why OpenAI and Anthropic Won't Win Finance

55K views · 1mo ago · 1:06:55

Gabe Stengel is the co-founder of Rogo, an AI platform built for financial institutions. He joins Invest Like the Best to explore what happens as AI moves beyond helping investors search for information and starts taking on the work itself — from analyzing deals and building presentations to coordinating transactions and eventually acting autonomously across capital markets.

Topics: Building Rogo · 10,000 AI Agents · Skills That Still Matter · Beating OpenAI and Anthropic · Bloomberg of the AI Era · Rogo’s Company Brain

Former Sequoia Chairman Michael Moritz on Steve Jobs, Elon Musk, and the Price of Greatness

82K views · 1mo ago · 1:34:09

Michael Moritz joins Patrick O’Shaughnessy for a wide-ranging conversation about the forces that shape exceptional people. Moritz reflects on growing up in a family of Jewish refugees from Nazi Germany, the outsider mentality that followed him throughout his life, and why he spent so much time studying the childhoods and backgrounds of founders.

Topics: Family History & Identity · Survival & Outsider Instinct · Studying Exceptional People · Self-Doubt & Success · Steve Jobs & Obsession · Joining Sequoia

Why the World Order Is Collapsing and American Power Is Rising

349K views · 1mo ago · 1:26:04

Walter Russell Mead joins us for a sweeping conversation about American power, China, and the forces reshaping the global order. Walter explains why he believes the postwar world system may be breaking down even as America itself remains remarkably powerful, and traces the strategy that has allowed the Dutch, British, and Americans to dominate global affairs for centuries.

Topics: America, Trump and World Order · Why America Keeps Winning · China’s Structural Weakness · Technology and American Power · Four Foreign Policy Traditions · The Future of Warfare

She Knows the 250 People Building AI. Here's What They Actually Believe.

124K views · 1mo ago · 1:10:53

Sarah Guo is the founder of Conviction and one of the most closely watched investors in AI. In this conversation, Sarah and Patrick discuss what the people at the frontier of AI actually believe, why some researchers think exponential intelligence may be only a few years away, and how she’s navigating an investing environment that can’t be backtested.

Topics: Investing Through the AI Boom · Building Conviction in AI · What AI Researchers Believe · Compute, Capital & Robotics · How Sarah Makes Investments · The Case for Open Source

Ex-NVIDIA Engineer: Why AI Is About to Get 1000x Cheaper

339K views · 2mo ago · 1:23:36

Guest: Ex-NVIDIA Engineer

Neil Movva, co-founder of Sail Research, joins Patrick to explain why the next era of AI may be defined not by faster chatbots, but by background agents that work autonomously for hours, days, or even weeks—and what it will take to make that intelligence cheap enough to become abundant.

Topics: Building a “Token Factory” · The Future of Background Agents · Nvidia and the GPU Stack · Chips, Memory, and Transformers · The Future of AI Training Data · Chip Scarcity and Compute Arbitrage

What Happens When the AI Boom Runs Out of Money

107K views · 2mo ago · 1:25:54

Patrick O'Shaughnessy is the CEO of Positive Sum. All opinions expressed by Patrick and podcast guests are solely their own and do not reflect the opinion of Positive Sum. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Clients of Positive Sum may maintain positions in the securities discussed in this podcast. To learn more, visit psum.vc

Topics: America and the AI Race · AI’s Funding Problem · AI’s Capabilities and Limits · Compute, TSMC, and Intel · The Frontier AI Players · Nvidia and Commoditized Intelligence

Everyone Is Still Undersizing the AI Market | Eric Vishria

73K views · 2mo ago · 1:17:53

Guest: Eric Vishria

Eric Vishria, General Partner at Benchmark, joins Invest Like the Best for a wide-ranging conversation on how AI is reshaping software, infrastructure, and venture investing. He explains why the competitive frontier for SaaS has shifted, why companies can destroy value by faithfully executing an outdated plan, and what the cloud wars can teach us about the emerging AI market.

Topics: What Cloud Teaches Us About AI · Sierra, Sandcastles, and AI Products · The New SaaS Competitive Frontier · AI Demand and the Energy Bottleneck · The Cerebras Story and AI Chips · The Future of Robotics