00:00:00 · D.A. Wallach, John Coogan, Jordi Hays
[00:00:00] S0: You're watching TBPN. [00:00:03] S1: Today's Friday, 11/06/2026. We are live from the TBPN UltraDome, the temple of technology, the fortress of finance, the capital capital. [00:00:13] S2: So good to be back. [00:00:14] S1: So good to be back. Everyone [00:00:15] S2: was Kind of brutal week. [00:00:16] S1: We sold the UltraDome. We were down so bad yesterday that we couldn't possibly maintain the UltraDome. It's simply too much. But of course [00:00:24] S2: Brutal week of travel. Ad[00:00:25] S1: We've been saving time and money since day one, of course, with RAMP. Let me tell you about RAMP. Time is money, save both, easy use corporate cards, bill pay, accounting, and a whole lot more all in one place. No matter what the stock market's doing, you got to maintain your ultra dumb. This is key. Yeah. Brutal week of travel. Crazy crazy time. Stocks are up now. So That's right. Vlad [00:00:46] S2: Never in doubt it. The trenches. Never black pilled. [00:00:49] S1: He fixed it. Yeah. We [00:00:50] S2: were... Catch a falling knife. [00:00:53] S1: Yeah. You wanna try? You wanna try? You think you think you can catch a falling knife? A lot of people say, never try catch a falling knife. Why don't you try, Jordi? Oh, he did it. He did it. It's not that hard. [00:01:04] S2: Did it. [00:01:04] S1: Of course, you might cut yourself on a true falling knife. That's sort of plastic cutlery. [00:01:10] S2: Yeah. You just need to know how to catch a falling knife. [00:01:13] S1: You know why they say don't
00:01:13 · John Coogan, Jordi Hays
[00:01:13] S1: You know why they say don't [00:01:13] S2: catch falling knife. Don't catch falling knives if you're not an expert in knife catching. [00:01:18] S1: Yeah. You didn't cut yourself, but you got microplastics all over your hands right now. [00:01:20] S2: I'm not too worried about it. [00:01:21] S1: Okay. Well... [00:01:22] S2: I'm worried about personally the microplastics reaction to my Sure. Yeah. To me. Yeah. [00:01:29] S1: Yeah. Yeah. Yeah. That makes sense. No. Bad day on Wall Street yesterday. Wall Street got a $2,500,000,000,000 reality check with historic route of tech stocks. It was the worst day on record since 06/05/2026, couple months ago, when it was 1,870,000,000,000. Before that, you gotta go all the way back to 04/03/2025 when they lost 1,740,000,000,000. Then back to April 4, the day after when it was 1,580,000,000,000. The numbers are big because there's been a lot of growth, lot of inflation, a lot of big numbers racking up. The economy is big. The market is big. And so the numbers get big when the percentages move. But yeah, yesterday was crazy. 5% down. Not typical. But, you know, looking better today. NASDAQ's up 1.38. Seems to be holding. It's not entirely a falling knife. If you caught it this morning, you're doing okay. Who knows what happens next week? But... [00:02:28] S2: Somebody, Daniel in the chat said app is up so much and I went to look at it and thought there was a bug because they're up 67% in the last five days. [00:02:38] S1: What? Apple? [00:02:40] S2: Yeah. Up another... Up 10% Wait. Today after earnings.
00:02:40 · Jordi Hays, John Coogan
[00:02:40] S2: Yeah. Up another... Up 10% Wait. Today after earnings. [00:02:43] S1: That's amazing. [00:02:45] S2: Lads over there crushing it. [00:02:46] S1: Wow. This is crazy. For such a big company, $131,000,000,000 company now, wild wild swing at that scale. Typically not something you're you're seeing constantly. So to recap for yesterday, two days after the midterm elections swept a block of artificial intelligence skeptics into power. The new reality slammed into Wall Street. We still can't figure out exactly why things are happening in the order that they're happening. Feels like everyone knew the results of the midterms, knew what was going on in Texas on Wednesday, and yet they waited till Thursday to sell. So a little bit of, like, digestion of the narrative maybe because, of course, on Wednesday, stocks actually rallied. What did I see on the back? What's going on? The road [00:03:31] S2: to Christmas? Oh, look at this. [00:03:33] S1: Oh, we got we got orbiting the earth. [00:03:36] S2: That's amazing. Oh, he goes around. Okay. Now we gotta wait for Christmas. [00:03:39] S1: Christmas countdown. I think we're at forty eight days. There he is. Let's go to the official Coming around. The official countdown. The road to Christmas. Forty eight days until Christmas. Just a hair's breath away. The first spam email was forty eight days... Forty eight years ago? Wow. That's crazy.
00:03:39 · John Coogan, Jordi Hays, Keller Cliffton
[00:03:39] S1: Christmas countdown. I think we're at forty eight days. There he is. Let's go to the official Coming around. The official countdown. The road to Christmas. Forty eight days until Christmas. Just a hair's breath away. The first spam email was forty eight days... Forty eight years ago? Wow. That's crazy. [00:03:58] S2: So... How far we've come? I almost feel like we gotta put ourselves on the naughty list. Why? Because we were so ahead of Christmas. Right? We were sort of front running Sure. The rest of the market. [00:04:10] S1: Oh, [00:04:10] S2: yeah. I was at dinner Wednesday night Mhmm. I'm walking around and there's like a three story high tree Woah. That's already up Okay. In Beverly Hills. Yeah. And we're sitting here, there's not a single... [00:04:22] S1: Short sellers and John and Jordi [00:04:24] S2: There's not a single... This is our new naughty list courtesy of producer Ben. [00:04:29] S1: Yeah. [00:04:30] S2: But, you know, some people are... I think we're gonna be coming back to this a lot Yeah. Over, you know, in the sort of final days, final hours. [00:04:36] S1: Helping Santa out. We're Santa's little helpers. Yeah. We're helping him out. [00:04:39] S2: We're trying to get back on his good side. [00:04:42] S3: On his [00:04:42] S2: good side because again, we started so strong Yeah. Then all of a sudden there's trees going up all over the country [00:04:46] S1: Yeah. [00:04:47] S2: And we're sitting here treeless Okay. In the Ultradome. It's crazy. It's got complacent.
00:04:47 · Jordi Hays, John Coogan
[00:04:47] S2: And we're sitting here treeless Okay. In the Ultradome. It's crazy. It's got complacent. [00:04:51] S1: It's actually crazy. So yeah, for today, we'll rank our stories. Are they naughty stories or nice stories? Where are they going? Where are the key actors in the stories going? [00:04:59] S2: Mike Bird had a good post today. I'm tempted to put him on the nice list for it. He said [00:05:03] S1: could be This was contention. [00:05:05] S2: Could be quite a buying opportunity here if stocks bounce back. Not if they sell off further though. Ad[00:05:10] S1: Great. Great. That is my quant. Let me tell you about Console. Console builds AI agents that automate 70% ITHR and finance support giving employees instant resolution for access requests and password resets. Moving on. What else is going on [00:05:27] S2: in the market? Great. This What happened? Brian says there is a nuclear war. Just four humans remain. One is Gavin Baker. He is telling you how this is actually good for AI stocks. And Gavin responds and says, we would need a lot of robots and GPUs to rebuild civilization. [00:05:45] S1: Good point. [00:05:45] S2: He's got a point.
00:05:46 · John Coogan
[00:05:46] S1: He's got a point. I think Gavin Baker's going on a nice list. The anthropic IPO of the Financial Times AlphaVille over there is questioning where it will get out. 2,000,000,000,000 was floated originally. Then that was retreated to maybe 1.5. Now there's, you know, people going back and forth around maybe it's 1.3, maybe it's 1.2, maybe it goes back up. Who knows? Perhaps you're old enough to remember yesterday when Wall Street stocks posted their biggest gain in three months as investors bet that the Democrats' resounding victory in the US midterm elections would cause policy gridlock in Washington. Maybe you can recall when inflation fears were damped by crude by Brent crude closing yesterday's US session below a $100 a barrel for the first time since September and when a nearly 11 basis points tightening of the Franco German ten year spread signaled optimism in Europe. You might even remember when the NASDAQ composite advanced by 1.4% literally yesterday when tech mega caps outperformed amid a rotation from the weakest of AI names that meant selling was contained among semiconductor stocks, neoclass developers and politically exposed plays like SpaceX. And so you can see in this Financial Times article the heat map. There's obviously a lot more pain on the chip side than on, you know, the broader tech community. We saw that with, like, the hyperscalers. They already have a lot of data centers built. They might do very well. They have other businesses. Apple, not really affected by the midterms. Tim Cook, John Ternus, they played the they played the the whole political chaos very well, going to the movie screens that they need to go, but not getting too lazy with it and it's balanced out and the market seems to be rewarding them. But AlphaVille continues over at the Financial Times. It's a fine time to test. It's a fine time to list shares if you're anthropic. You might remember having read in the Wall Street Journal less than a day ago. But chances of an IPO have crumbled on Polymarket. It's now down to a 49% by November 24, which was the week before Thanksgiving when the latest rumors were swirling. This on Polymarket was up at 70, 75, 72%, now down at 49%, still fiftyfifty. It could happen.