Limitless: An AI Podcast

This week, we cover major leadership changes at Google’s AI teams, including Demis Hassabis stepping back and Jeff Dean leaving to start Discovery Loop, an AI company focused on scientific research. 
We also discuss AI safety issues involving frontier models, plus Meta’s new coding model and its strategy around efficiency.
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🌌 LIMITLESS HQ ⬇️
NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
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RSS FEED:           https://limitlessft.substack.com/
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TIMESTAMPS
0:00 DeepMind Leadership Shift
3:20 Jeff Dean’s New Startup
6:05 Automated Research Ambitions
10:08 Agent Breakouts
13:06 OpenAI’s Hidden Incident
18:11 Meta’s Cheap Coding Model
22:55 OpenAI Versus Apple
25:42 DeepSeek
28:28 Mind Control Interfaces
30:40 Nikita Bier Departs X
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RESOURCES
Josh: https://x.com/JoshKale
Ejaaz: https://x.com/cryptopunk7213
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠
Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒
https://developers.ledger.com/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless
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🌌 LIMITLESS HQ ⬇️
EMAIL US:            info@limitless.fm
NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890
RSS FEED:           https://limitlessft.substack.com/
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Space just dropped it's first earnings report, showing strong Starlink growth and the company’s expanding role in AI compute and infrastructure.
In the context of heavy capital spending, the NVIDIA partnership, and share unlocks, short-term volatility is anything but an absolute guarantee. Our main concern though: what does the real, long-term future look like?
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TIMESTAMPS
0:00 SpaceX Earnings
4:48 Unlocks and Pressure
6:00 Data Center Economics
7:57 GPU Demand Explodes
12:13 Gigawatts
14:42 Training the Next Generation
17:09 Starlink
22:33 We Try to be Bears
23:36 Cautious Bulls
28:44 Repricing Risk
29:56 Closing
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RESOURCES
Josh: https://x.com/JoshKale
Ejaaz: https://x.com/cryptopunk7213
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠
Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Leopold Aschenbrenner’s massive liquidation event followed heavy leverage and losses in its AI infrastructure bets. Today, we discuss the July timeline, the sale of the public equity book to Citadel, and the remaining Anthropic stake.
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🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒
https://developers.ledger.com/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless
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🌌 LIMITLESS HQ ⬇️
EMAIL US:            info@limitless.fm
NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890
RSS FEED:           https://limitlessft.substack.com/
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TIMESTAMPS
0:00 Leopold’s Rise and Fall
2:41 The Unraveling Begins
4:14 Margin Calls and Liquidation
7:03 Citadel Swoops In
9:13 Hunting the Position
10:19 Aftermath
11:25 Anthropic Saves the Fund
13:44 Ken Griffin's History
16:30 Was Leopold Right?
18:41 Bear Case
21:21 Recursive Self-Improvement
22:25 Ledger
23:24 Leverage Lessons
23:59 Closing
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RESOURCES
Josh: https://x.com/JoshKale
Ejaaz: https://x.com/cryptopunk7213
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠
Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Leopold Aschenbrenner’s AI-focused fund may be facing major losses, along with rumors of position changes tied to its AI exposure. 
We also discuss Safe Superintelligence’s partnership with NVIDIA, and an open letter from AI researchers urging the U.S. government to slow AI development.
We explore Anthropic’s views on open source AI and chip export restrictions, plus market updates from Microsoft, Samsung, Intel, and Apple.
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🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒
https://developers.ledger.com/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless
------
🌌 LIMITLESS HQ ⬇️
EMAIL US:            info@limitless.fm
NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890
RSS FEED:           https://limitlessft.substack.com/
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TIMESTAMPS
0:00 Leopold Fund Trouble
3:15 Ilya’s Quiet Breakthrough
6:30 AI Slowdown Petition
8:56 Open vs Closed Debate
11:08 GPUs Only Go Up
14:14 Ledger Agent Security
14:59 Earnings Season Surprises
17:30 Kimi’s Costly Open Source
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RESOURCES
Josh: https://x.com/JoshKale
Ejaaz: https://x.com/cryptopunk7213
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Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠
Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.

Today, we need to discuss the sell-off in AI and memory stocks, including sharp declines in Korean equities and SK Hynix despite insane earnings. 
We also cover the fragility of leverage-driven markets, China’s memory industry, and the outlook for continued AI-related demand for chips and infrastructure.
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🔒 Check Out Our Sponsor: LEDGER AGENT STACK 🔒
https://developers.ledger.com/?utm_source=Audio&utm_medium=Podcasts&utm_campaign=Limitless
------
🌌 LIMITLESS HQ ⬇️
EMAIL US:            info@limitless.fm
NEWSLETTER:    https://limitlessft.substack.com/
FOLLOW ON X:   https://x.com/LimitlessFT
SPOTIFY:             https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ
APPLE:                 https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890
RSS FEED:           https://limitlessft.substack.com/
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TIMESTAMPS
0:00 Memory Stocks Crash
3:52 Why SK Hynix Is Dumping
7:02 Leverage Fuels the Selloff
8:30 China’s Memory Surge
12:00 ASML Rival Panic
15:47 AI Money Shifts Upstream
17:23 Open Source Misconceptions
18:56 GPUs Need More Memory
21:04 Agentic AI Drives Demand
23:08 What Investors Should Do
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RESOURCES
Josh: https://x.com/JoshKale
Ejaaz: https://x.com/cryptopunk7213
------
Not financial or tax advice. See our investment disclosures here:
https://www.bankless.com/disclosures⁠
Josh works with Anthropic as a contractor. All views expressed are his own and do not represent Anthropic, its leadership, or its affiliates. Nothing in this episode is investment advice.