Big Digital Energy

0:00 super fascinating weekend.

0:04 Seems like non-energy news, but it is actually energy related. And I'll tie back that here in a little bit, but drama at OpenAI, just fucking bizarre. Let me kind of run through sequential order

0:17 of events of what's happened over the last couple of weeks. So first, November 6, OpenAI has their dev day and they come out, they show all these new features. You know, one of the big features

0:28 for us was build your own GPT. You can actually kind of create this small instance for GPT, train it up on some of your files and data and say, hey, you know, I need you for this specific task.

0:40 Everyone's pumped about it. You know, they probably kill 1, 000 startups. With that announcement alone, all these startups that have raised money being GPT rappers. So lots of buzz about what's

0:52 happening. With that, Sam had also said that they just had major breakthrough at OpenAI and was kind of Cryptic about it and there was some

1:04 speculation that they'd made major progress towards true a G I have this true human intelligence AI discovery and along with that his co -founder tweeted out his co -founders Ilya Emilia is like one

1:18 of the I mean he's one of the leading scientists and researchers in machine learning and artificial intelligence like there's a huge fight for him between Open AI in Google and I've Heard Elon Elon

1:32 said was the toughest recruiting battle he's ever had getting her grover to open the eyes of the dude is you know kind of reverend when it comes to artificial intelligence he tweeted at around that

1:41 same time something along the lines of if you value intelligence over the qualities that make humans special and unique you're going to have a bad time and so you start looking at those sayings that

1:52 kind of seemed like Ilya is very much kind of Doomsday and

2:00 Thinking around Ai in a Dji in what it means, basically his point of views, We need slowdown. We need to be safe, yet. Yeah, make sure that these these intelligent beings that we're making are

2:16 aligned with human values and the as as video, it's a good way of thinking about, As I could think about it like humans. Relationships with animals. He's like. Do we respect animals and love

2:27 animals Like. Yeah, Of course, he's like. But when we want to make a highway between one city in another city, do we asked for the opinion of the animals. They know we just do. It is like I

2:36 think that that's how Ai will be with humans. That that's Andreessen. Point that it's a really really fancy hammer is a tool. A as a tool, It is not going to take over the world, and I. I,

2:47 actually, I actually, I agree with unreason to a certain degree Because it in that same video I was just talking about Iliad. He has his vision that the world. Some days going to be covered in

2:60 solar panels and data centers and I'm like Oh grace, our Ai. Overlords are dependent on intermittent power are not going to be around at night time, so that's yeah, and so that's actually like

3:12 cave dweller. I don't buy into the doomsday predictions, because it's like unplug the fucking Gps, and so we're gonna go chug, so cannibalistic humanoid, underground dwellers were going to live

3:24 in the in the in the sewers and come out at night. I saw something about this about the What are the tunnels under Paris called The. You have to know this, or does the catacombs? The catacombs?

3:38 We got guess in here. Do we got to rate in baseball player, and one, the athletic ability of this room has gone up a notch o'clock marks marks son here with us and squatted like one hundred and

3:52 eighty pounds, and I

3:55 will get back that. I mean, let me continue on this timeline, so. November 6th, OpenAI has their demo day. November 17th, which was this past Friday, all of a sudden, Sam Altman, CEO,

4:10 founder, CEO of OpenAI is ousted by the board. It's fucking bizarre. Fastest growing company of all time by a order of magnitude in the CEO is ousted, but as things start unraveling, it becomes

4:26 even more clear just how sudden this was. Microsoft, who's invested, I don't know how much - It's billions. It's in billions, had no notice of it until one minute before it was announced. Sam

4:40 Altman - Wait, they're on the board though. No, they don't have a board seat. They don't. No, no. Which is interesting. Just capital and cloud space. What is actually, I heard that most of

4:52 the investments actually like kind of computational power. Yeah, okay.

4:58 They don't have a board seat. Sam gets an invite for Google me, which is also funniest using Google me When they're backed by Microsoft. Microsoft Teams gets on there and it's all the board members,

5:10 except for Greg who greggs the other co -founder but he sits on the board, and they say was German, yet, Hey Sam. We're letting you go, and all of a sudden they put out this. They put up this

5:22 blog posts and hits Twitter and the blog post says something along the lines of we're firing Sam. He hasn't been consistently candid with us and we don't trust working with him, so they fired him

5:36 with cause. That must be it with cause, but all the speculation was that Oh Sam did something bad externally outside of the company. Usually this goes towards like you know sexual assault or

5:48 something like this because of how they position that message, so you know rumors are just flying like crazy on Twitter. People are pulling up old tweets from Sam Sister, where she saying that her

5:59 and Jack Altman, or she was molested by Sam Altman and Jack Altman, her brothers, and how they're like these bad people in, so everyone's like. Oh, is this what it's about? Because as tweeter

6:09 only from a few weeks ago, it's all the shit she has going on and then Greg. The other co -founder He puts out this notice that says in light of what's happened today. I quit. My. Oh. That's

6:23 baller. That actually means you know he's defending Sam. And there's something more to this. Anyways. Open the eyes, employs. Put out this, they put out. This, essentially this demanded the

6:36 board on Saturday, that says Y'all are gonna reinstate Sam by five pm. Or else raw quitting the whole company's quitting. Anyways. The board didn't make that deadline. There's all this stuff

6:48 going down what I love. Is that this is all documented on Twitter. My favorite posts is Sam Altman makes a post yesterday and it's him wearing an open AI lanyard with a guest pass. It's where a

6:58 guest pass and he posts, he takes a picture of it. He says, this is the first and last time I'll ever wear this badge. And everyone's like, Oh shit, Sam's going back in there to take over a CEO.

7:08 And long story short, Microsoft's CEO

7:15 gets involved. Satya Satya Satya Satya Nadella, Microsoft

7:23 CEO. And makes a post this morning and says, you know, we're extremely excited to have Sam and Greg and the rest of the OpenAI team that's leaving joining us at Microsoft to run our artificial

7:39 intelligence team, Sam's the CEO of it. And so this is just like 40 chests where now Microsoft also has access to the

7:47 IP from OpenAI through their investment. And so now you just brought on Sam, Greg and all the team that's following I'm from OpenAI. Just got this, I mean hive mind of the best Ai talent, and you

7:57 have access to the Ip from opening eyes, so they can just pick up where they left off and it's been Everyone's comparing it to when Steve Jobs has run out of Apple, except those on a twelve year

8:08 timeline, and everyone's like this is the Ai driven twenty four hour, forty eight hour version of Steve Jobs getting ran out of an Apple and brought you know, brought back in anyways. Microsoft

8:20 really just kind of flexing and you know flexing their muscle and you're bringing in century. What was up defiant so defining the word, so I have a totally unfounded take on those, but from reading

8:33 it from abroad, being an energy, God not been really a tech guy not trafficking in those circles. Would it look like to me? Is you had a nonprofit right that started up yet that then created a

8:49 division that was allowed to profit, right, correct. For profit division, but the for profit division was not maximize profits. It was were allowed to create some profit, specify correct, and

9:06 so just from the outside it looked like a huge fight On how much money should be made that sort of stuff and something happened where Sam basically said, pulled an Eric Cartman and said Screw you

9:24 guys. I'm going home and whether he actually quit got fired. However, it goes down, you know whatever, but it looks like it's a fight about commercialization and that commercialization is now

9:37 going to happen at Microsoft. So I think that that's pretty accurate. I would unpack that a little bit, So you look at this corporate structure that they have in It's super complex Because

9:48 checkpoints starts off as a nonprofit. They start spinning at these other entities. And where does the board sit? Where are the investors coming in? One, it's just way too complex. Then your

9:57 actual board is a board. I mean, kind of be honest here, it's a bunch of scrubs. Like the only one that actually deserves to be on there is the CEO of Cora, which is still kind of like, you know.

10:09 B team. Yeah, kind of B team, but you know. Oh, that way just flexing on the B team. But I mean, you used to have Elon Musk read off men. I mean, this wouldn't have happened if he had read

10:21 someone like read off men on the board I mean, or Elon Musk. I mean, you have, I don't have their names written down, but one of the ladies, she's an academic. She's been an academic her whole

10:32 life. You know, never actually been part of an operator. There's some weird things there. You know, it's been a lot of her time in China in artificial intelligence and deep state. So there's a

10:41 lot of things like, Hey, is there like, I mean, open AI isn't just a tech company. They have created a material step change technology right this new. disrupt a force and there's bad actors.

10:55 You know, it's always like nuclear like always don't laugh at it, but you know, we discovered nuclear technology and instead of like, oh, hey, how can we give infinite free energy to the world

11:04 governments took and said, how can we kill more people with it, right? It's kind of the same thing with artificial intelligence. And so there's just a lot of, you know, things that could be at

11:12 play and the background that we're not aware of. But to Chuck's point, you know, I don't think it was just about how much profit I think that it came I think that the tension comes down to safety

11:25 and alignment and commercialization. Sam saying, hey, we're taking this new tech to market and we're gonna make a shit ton of money doing it. While you have these independent board directors who

11:36 don't have any skin in the game and they're mostly from a safety and kind of altruistic side and they're saying, we're moving way too fast. This is dangerous. This is some of the - essentially

11:49 stammer all the whole thing because it is about profit management. Max on the for-profit company, yeah. Yeah, there's a couple threads that I think the board, number one, is you never fire

11:59 anybody super quickly unless something goes down. So this might have been a last draw type of thing. Don't know. What's interesting is Sam doesn't have any equity in open air. Right. So as I'm

12:09 starting to

12:13 unpack some of these, maybe it didn't go down exactly, but the fact that Sam is now sitting at Microsoft for profit, having no really, you know, no contingencies or conflicts of interest with

12:31 open AA, I now can do whatever he wants. That's what I'm seeing because one of the things the board said publicly, which we don't know exactly, but he wasn't honest 'cause he had all his fingers

12:41 and other pies like he's trying to work on new chips and video and new things to make AI. And better stronger faster. Maybe that's this has been sort of in the works for awhile. Went on. Yeah, I

12:56 think I think the At Ubs little taken aback that he didn't have equity, but now as you walk through a lot of what you laid out, there was a hundred and how suboptimal this is. I mean Sam's the

13:08 commercial guy right. That's right That that your commercial player. That's what Microsoft sees right and so they're now fully align Microsoft sitting over here in this really miss aligned position

13:20 with this kind of weird weirdly constructed board with no kind of governance influence. Well, We'll just what we'll just wait until the coup is finished, and why I think to even add onto that you

13:36 know there is rumors that Salmon already been talking to investors buy into you. Just can go start this again, right and I mean Sam would raise ten billion at one hundred billion dollars. pre money

13:47 valuation just given who he is and obviously his track record. And people are like, why would he go essentially take a W two at Microsoft? And like, well, one, Microsoft has a three trillion

14:01 dollar company. But it has a knowledge base that open aid and open AI didn't have proprietary training data and they have all this distribution through Microsoft office. So they have a lot to plus

14:15 they've already budgeted 50 billion And computational power for AGI. So, I mean, infinite balance sheet and resources for Sam to go build this out. And I like he made a comment on Friday night on

14:29 Twitter. I think Sam started drinking and it was about to get like really spicy. But he said, if I start going off, the open AI board should go after me for the full value of my shares.

14:40 I was like, Oh shit, I was like, this is about to get, this is about to get good because he has nothing to lose, right? and uh. Anyways, so really just kind of bizarre 48 hours there. Yeah,

14:51 but I mean, if you look at some of the tweets, everyone in the company is saying open AI is nothing without its people and Sam's liking it. Yeah. So they're all coordinated around, they've

15:03 communicated the message. And as this paraphrasing, but as Colin tweeted somewhere in the middle of all this, this is why I don't have a board.

15:15 That's a harsh paraphrase, but I said, so I don't have any scrubs on my board, which we also don't have a board right now, but we have Chuck here, so that's all we need. Are you a scrub, Chuck?

15:26 No. I wanna know how many DM's for Sam and Driesen this weekend.

15:32 We need a, Chuck, we need a counter. Yeah. How many, how many can stack it in the message side? Chuck sent another DM, but anyway. No, well, but on that point, absolutely blew my mind. Sam

15:46 Altman when you hear people like Paul Graham and Brian Chesney, All these people

15:54 talking about Sam Altman. I mean everyone talks about how good of an entrepreneur He is. He's one of the best of this generation. I'm like it's hard for me to wrap my head around. How did you have

16:05 such a incompetent board involved in one of the most important technologies of all time, like that. It's not the fact of having aboard. It's a fact of who you had on your mortgage. It's dirty.

16:19 Then maturity showed in how they went through this. Even with that blog posts that they put like he was just such a ship mess, and so it kind of blows my mind How all of this has been structured and

16:34 and essentially devalue. I mean they're secondary offering that they're having sat, and ninety billion dollar valuation hasn't closed and now. You know, from my perspective, this is all crazy

16:46 fast to happen. Friday morning, I woke up, I have screenshots on my emails, I was sending out emails, and I sent out one to a friend, Hey, I'm trying to get access to GPT enterprise. Do you

16:55 have any channels through vain? Because right now, I'm in the queue, it's just so, so long. And so I'm trying to like, get access through some of these bigger partnerships, sending out those

17:05 emails on Friday morning, Friday night, I'm like, Open the eyes going to zero. Like, that's how quick, I mean, opening eyes is dead But what does Sam mean by this one hour ago? We have more

17:16 unity and commitment and focus than ever before. We are all going to work together some way or other, and I'm so excited. One team, one mission. I don't know. Is he talking about Microsoft or is

17:27 he talking about OpenAI? I don't know. He says that there's room for OpenAI and Microsoft to work together. Dude. I mean, he's a killer operator, so that just And there's already this weird

17:39 dynamic.

17:41 There's so many different ways to skin this cat of like. weird dynamics because there was already talk about some rifts between OpenAI and Microsoft 'cause you look at it, Microsoft has contributed

17:46 a large amount of

17:51 capital to OpenAI as an investor, but OpenAI

17:56 and Microsoft have tension because Microsoft's building their own AI and so they're kind of competing together, right? I mean,

18:04 Sam is retweeting Sat Nadella's comment about we're gonna work with

18:22 OpenAI. This might have been constructed the entire time by Microsoft I'm telling. I got it. Sounds like a corporate script. There's also a way to plan back somewhat. There's also some theories

18:26 out there of, hey, we've had this whole nonprofit structure, how did Sam and team get out of it? Yes.

18:29 So there's - No equity and tingles. I don't feel like we're getting full story from face value. No, but this is what those non-competes look like, right? Yeah, well, because don't forget, too,

18:40 is part of. profitability, commercialization, and all that

18:47 stuff puts into question every dollar that had been donated to the nonprofit, and so Lon Musk, I'm sure, wrote off, what did he donate a hundred million to? Something significant. It was a lot.

18:58 I'm sure he wrote that off as taxes, and he's going, Ah, you don't start moving towards commercialization there 'cause that throws my, you know, what's

19:08 35 million dollars where the tax is plus interest right 10 years? He's on Always Ask. He's like, How did I donate money to something that's non-profit and is now a for profit? Right, so CO, this

19:21 is Satya Satya Satya's act. 11 hours ago, he says, We remain committed, the CEO of Microsoft. We remain committed to our partnership with OpenAI and have confidence in our product roadmap, our

19:31 ability to continue to innovate with everything we announced at Microsoft Ignite and continuing to support our customers and partners. We look forward to getting to know Emmett, Sheer and OpenAI's

19:40 new leadership team and working with them. And we're extremely excited to share the news at Sam Altman and Greg Brockman together with colleagues will be joining Microsoft to lead a Vr. A new

19:50 advanced Ai research team. We look forward to moving quickly to provide them with the resources needed for their success. I'm sorry. I just don't. Sam. Sam replies Going. The mission continues,

19:59 But you know who is the ultimate. Ah. The best on Twitter. Elon Musk Himself. This is Elaine's reply to that. Now they will have to use teams that allow the line to start a worse for that. I

20:14 just don't see where is opening. I bring value. Because the new Ceo of of open the eyes, the former co -founder of Twitch killer business and operator, but you're losing most a significant portion

20:30 of the opening items going over to Microsoft, and some dislike, if Microsoft has less viable and open the eye. What value is there in a partnership, But so here's our get out question, when all

20:41 said and done. This is the number that we'll hold ourselves to. I'll even go first on this so you guys can think of the answer. How much in the way of stock options did Sam get as part of his deal

20:56 to join Microsoft? I'm gonna say he got 750 million

21:03 of options.

21:05 I'm gonna just go with the clean half billion. Clean half billion? I don't think there were options because options have gone. But you know what I mean? Whatever the time. Long-term equity

21:17 incentive. Long-term equity and - Performance based, right? He got - Absolutely performed. What was the valuation? 90 billion? 90 billion, yeah. It's over a billion. It's over a billion, all

21:29 right. Single-digit billions. 'Cause I mean, generally speaking, in at least in oil and gas private equity, management's getting 20 to 30. 30 percent. So this might be one of the cheapest

21:41 investors. Turn everything into the carry difference. Yeah. Yeah. I think it, I think it can be. Yeah. What do you think? Oh, we didn't ask Colin. I have to say, I'm going to give kind of a

21:54 variable answer here. So I definitely think that's over a billion dollars total comp. But if I'm looking at it on a yearly basis, like I bet that they're paying them 20 to 30 million dollars salary

22:06 to be over there And I'm basing this off of, if you just look at like

22:12 AI positions that these company like open AI, I mean a lot of their employees are making like a million bucks. And that's just kind of where the market's at here. If you're a machine learning

22:23 expert, like that's a good thing. That's a guaranteed comp. Yeah. So I could see them, you know, getting between 20 and 30 million dollars a year guaranteed comp salary. But man, to get

22:36 someone like Sam. And let's say a Sam's drop in the effective altruism bullshit, and just being a capitalists again, He always was accomplished. You're in which kind of makes me I dunno every one

22:51 that I hear about Sam has nothing like but great things to say, but I hate the. Oh. I don't have equity like. Why are you. When this is not? I mean it'd lose. This doesn't make sense Unless you

23:04 think about this has been in the works. Not, I'm not saying in a conspiracy way, but it's minute discussions like man. No equities nonprofit doesn't make sense all join. Let's figure it out. I'm

23:15 sure Microsoft's been working. That's probably why Microsoft didn't want a governance board seat. Probably they could. How the flexibility it seems. Yeah, this seems all while too played out that.

23:29 I mean I'm saying this is probably one of Microsoft's cheapest investments of all time on the other side of the spectrum, another energy story by the way.

23:38 Last night cruises Ceo Cruise, new one by G, G M spends billions of dollars buying this autonomous driving car self -driving car here well, their Ceo, and one of the co -founders resign last night,

23:52 which is perfect timing as it's like he's being lost in the noise, but but Cruz lost his license to operate in California. The joint do join Microsoft. That'd be a queue. That'd be that a light

24:07 license in California. They lost her yacht. Cruise lost his license in California. How it can operate in California. They're kind of getting screwed over on this lawsuit that they had and I can't

24:16 remember the case for bait 'em but essentially they hit an emergency vehicle, but the wreck wasn't caused by them like a car had, have either a pedestrian or another vehicle, and I really need to

24:32 look this up Had hit someone and they flew over and hit the cruise car. And now Cruz is kind of taking the brunt end of it. Well, it may be a different one. It was in San Francisco and the Cruz

24:45 vehicle was coming through the middle of an intersection and emergency vehicle was coming the other way. And when emergency vehicles coming with lights on and flashing you move over and it didn't

24:57 respond in time, that may be a different. Well, interesting is the CEO of GM, Mary Barra, projected that Cruz would generate a billion in sales by 2025 and help double GM's revenue to 240 billion

25:11 by the end of the decade. You know, that's kind of crazy 'cause I don't, did we talk about Hylian last week on the show? We did, yeah. But I was laughing 'cause as I was researching that, I

25:21 found an analyst from like seeking alpha or something and like, you know, talking with Hylian's team, they anticipate doing 2 billion in revenue by 2024. I mean, that's coming up. Yeah. Yeah

25:33 and they did 17 million in the last showing 12 months.

25:38 Fuck, I thought some of my projections are bad. My boobs guys are all by like I mean cruise company that I complained about when I was trying to charge my eevee at the at the local fast charger and

25:49 crew. All those cruises cars were taken up all the spa, but their technologies corner works, they've raised over. They've burned through. Guess what one point four billion of the one point seven

26:00 billion they raise down, So you've got crews the big. You know, thumbs down, Ceo resigns saying Like worse, we're totally not hitting anything, and then you've got this incredible coup on the

26:12 open a I side on the other spectrum, Microsoft, looking like they know exactly what they're doing. I love to hear Elon Musk real opinion of what's going on because he. He probably has also also on

26:23 At this is circling back a little bit to Microsoft acquisitions, but just like in the supply. You're talking because I think that that as you know Microsoft. Specifically,

26:36 how is his name Saturday. I get that. Da. Yeah, Let's just say okay, but they acquired Linkedin in two thousand and sixteen for twenty six billion and now Linkedin's doing fifteen billion in

26:47 revenue. It's pretty fucking bad investment benefits, so they've been making some pretty prime acquisitions, but that I mean the bottom line in this comes back to something we almost have gotten to

27:03 the point about talking weekly on the podcast about his Ai is going to be everywhere. I mean it just says you and I were talking about this. The other day I've gone from in last six months thinking

27:14 Google was the greatest website ever created, and now Google Sox, cause it doesn't give us the answer, like like Chet, G, P T does, and so he way at the end of the day all of this

27:25 commercialization, A I and stuff comes down to where you need a hell of a lot more power cars will go back to her. Often quoted Google Search Is one of our side driven searches five watts of power.

27:38 Ai has Kevin Bacon. Yeah, I have exact acreage Heaven by Pam Baker, Is Kevin Bacon. Here we go with ketchup or ketchup awful Tbt to at least when I'm typing a message or or using Siri in my damn

27:54 iphone, and it always wants to autocorrect to what it thinks I'm saying, and it's always wrong chat. Gb. T will be like. I know what you're sombrero. I get it. Did I need to? I need chachi. T

28:06 to add the like oil Bro You know filter on there Now that's that's that's exactly right, so I mean at the end of the day, this all just comes back to. We're going to need so much more power back to

28:20 the video of the world being covered with solar panels and data centers and hand. We have such a long ways to educate the tech sector on speaking of more pressure on the grid. How far away Mark this,

28:33 this sounds fi. Well, our president is invoking the 1950s Cold War era Defense Production Act to motivate, I think the largest ever 169 million to

28:52 nine heat pump projects across a number of manufacturers And so we've got a policy acceleration of heat pumps in the US. via essentially a war powers type of act, executive action, right, which is

29:13 kind of a holy cow thing to do, you know, of like all the things he is executive power on to well, it's it's consistent in the minds of the proponent with the emergency state and the war on climate

29:29 change. I happened to be. Perusing, Linkedin, Jim Murphy, I don't know if you guys know who Jim Arceus, Jim Marci was in or regional Tiger cub, Sanford Bernstein. He's he describes himself as

29:45 a professional non cyclical energy and infrastructure investor, Now a brilliant guy. A former client, First time ever heard him speak publicly. He sat at a conference back in, I believe,

29:58 nineteen ninety nine, he was talking about Exxon's buybacks relative to Texaco, and he said over this time Exxon has shrunk itself by the equivalent of two Texaco 's in over this same time. Texaco

30:12 should have shrunk itself to zero hectic,

30:15 but I thought what he summarized his fairly long piece on Linkedin and I encourage you to go read it energy transition, motivational speaking, said, but let's not forget about the motives of

30:28 utility maximizing customers who want the best performance and the lowest price. Buyers of clean energy or electric vehicles want reliability, convenient safety, and low costs, and not just clean.

30:40 Last paragraph, the energy transition will ultimately be driven by two powerful forces. Returns on capital and consumer preference just like all industrial transitions. Aspirational policy goals

30:50 for cleaner energy will go unmet unless policies harness these forces rather than fight them. And so this Defense Production Act invocation looks a little bit like fighting those forces. Yeah.

31:06 Anyway, I mean, look, I mean, at the end of the day, there's gonna be so much pressure, and then all it is is driving up the costs on, what I'll call, quote unquote, non-clean stuff to put it

31:20 out of business. I mean, that's what they're doing. And they won't just say that. Yeah. It's not gonna work though. I mean, it's just gonna, it's not gonna work.

31:30 And the sad thing is, is if we were more thoughtful about it, we could probably use that money much better on RD for new stuff. We could make some trade off some various other things. And that's

31:42 what kind of gets me because the end of the day, higher, higher cost energy today kills just as much as climate change. I mean, even back in my days at Shell, we, we were looking at, you know,

31:55 the heat pumps, like let's look, get into the heat pump business going from, you know, natural gas to electric. It makes a lot of sense. The challenge is, I mean, even look at where we

32:05 passionately, like what ERCOT announced last week about how they're going to be short of power. Well, basically, basically ran a big, big process to get people to turn on idle power, producing

32:21 assets and got a big goose egg. Yeah. I mean, said they do it. I mean, last week, I mean, just let's put it for real in real size. Last week, I'm seeing them. Of the city of Houston, my

32:31 power went out for no reason and a thank goodness, have a generator. That's that's primed and fueled by natural gas thing than God and I was thinking if I didn't have that, I'd be screwed, but

32:44 let's for a minute. Think if I have an electric heat pump, That's a more. I'm drawing more power from the grid. It is just a hard conversation when you try to think about the pragmatism of going

32:56 electric. That's the point is putting pressure on an already may know the obvious right in your point. Yeah, Marsden thought it was your risk of reinforcement. Guess know the playbook like he had

33:08 these things, and then you just blame the quaint mining for coins. I blame hydrocarbons. Weimer. Did y'all see this. I'm just looking at my Twitter. Real quick kind of cruising through its.

33:20 Happened on the week. Did y'all see this I guy that was bashing Just stop oil protesters. Yes, the Uk, Yeah, love this guy. Someone said that we need to get them on Bt, which we should

33:31 absolutely try to hunt down who he is, But you know, just stop oils in the middle of the road during a blockade, and he comes up. He's like what are y'all doing Like this makes no sense at all.

33:39 You're idiots. He's like one of your clothes made out of is like my favorite line is that he's like you haven't thought this through the song they were carrying was made of plastic, so all wearing

33:49 polish, and they all looked at each other dumbfounded. Like What is he talking about My favorite line? Is he's like. If y'all really want to stop this, Go live in the forest that clear bumper

34:03 stickers from the seventies, but I love this guy like it's finally. You know. It gives me some hope for civilization that we get some people out there with common sense that are just starting to

34:13 believe. He said it with a British accent, So Yeah, here's definitely British. Definitely British are some signs. So they. They get it alright real quick and let's go speed round because you

34:26 said you wanted forty minutes and we're at thirty. five new president of Argentina. I'm excited. We've got a libertarian, the madman. I'm very excited. Javier, is it Malay? Malay. Malay is

34:42 out. And so that brings up three things. One, he is all about liberalizing energy in Argentina. So breaking up the government monopoly, et cetera, et cetera. That's cool. He's very pro-Bitcoin.

34:58 I mean, he's ready to get rid of their central bank, go to the dollar and all that. But here's what we need to talk about real quick. So we're on the record of saying it, the Vaca Marta. You

35:12 know, Vaca Marta Marta. Vaca Marta. Vaca Marta. Vaca Marta. Yeah, I'm going to death of something. The giant. It's the source rock down there in Argentina It is the largest accumulation of

35:25 fracked wells outside of America. And are supposedly kicking ass. There were then some of the Argentine default. They'll forgo It's it's some of the most are some of the most expensive wells, As

35:39 well, Yeah, absolutely, they're They're running like Chelsea, five percent more than the Bach, and then the Permian basin. I've heard it described as a formation that is like the Permian only

35:52 with pressure that check. Yeah, I mean we we share his attorneys. I can. I spin up a fonder on this

35:60 gotten has been talking about this Bill is a renown and unconventional runs an unconventional consulting firm, Not a nine iron from here across the freeway, and he's He's probably the most immersed

36:14 in the vacuum, where over the last few years of frequent Big Nine iron by the way, but that's okay. It's driver nine hour drive around Nine iron, but it's not far, and so yeah, I mean The The

36:26 the quality the. The raucous world class. It's just all of the above ground, the Adam that has gotten in the last decade. That's the challenge. Because the pipelines above ground. It's politics.

36:39 It's all. It's all very very extent in risking, as as service providers, risking assets in country. At least their assets have wheels, but you know at some point you're you're facing kind of knee

36:51 jerk nationalization in populism where you know you never get. You never get off of high center in terms of getting getting going from a development. I got it. I got it at a tax from one of my one

37:04 of probably one of our best energy and software ceos in towns. Well now he texts me sand the self styled anarcho capitalists who won Argentina's presidency on Sunday, plans to ditch ditches nations,

37:19 Paso, and adopt the U S dollars in national currency now, and then he goes on to rant about He loves Anna. You like he thinks I'm an anarchist series, like the habe were anarchy brother. He's

37:30 actually calls themselves and and and and nachos Sindall, cinder coolest myself, Which I dunno that makes them look it up, Was anointed The other thing about the Argentinean presidential election

37:41 is thirty two million votes,

37:44 all in -person counted in one day in voter. Id, not making any political statements here, but he, he got a presidential election done. Yeah in one day with physical voting and vote counting and

37:59 the problem we have is he doesn't have any control of the legislative branch. Either house, there so potentially how much Kenny actually get done, but will say at least of moment. I'm kind of kind

38:13 of hopeful Mark. You want to hit the The J P T article real quick. Yeah, I would just point everybody to read it. I was part of my Sunday evening. JPT or LinkedIn perusal. It was a nice summary

38:27 on what's what's happening. Exhilarating lives. Yes. And they need some of that. Over the last decade, with respect to all the produced water disposal that we've gone about in the Permian base

38:38 and it focuses, it's a technical paper, but it's very consumable for the lay person. I think it's a pretty important one. They talk about, you know, the statistics over time and what's going on

38:48 with the localized pressure around the disposal or injection wells. But more importantly, what's going on with the background pressure pioneer started talking about, you know, going to four

38:58 strings of casing in the middle and basin because of the pressuring up of the background pressure in the St. Andrews, you had sulfate reducing bacteria, which creates an H2S problem and all kinds

39:08 of hazards. So you're putting, you're putting away a lot of water. And I may be recalling this precise breakout, but it was surprising to me, and although what makes perfect economic sense, that

39:21 80 Of the water has gone into the shallower disposal zones which are above obviously the target hydrocarbon zones in both the Delaware in the Midland basin, blow it. You've got the Ellenberger in

39:33 the face, women etc, while those wells cost a lot more because they're deeper, and the other thing that was awesome.

39:41 It just kind of interesting. Well, Gee, whiz statistics last year, Eu was more than five billion barrels of water disposal. Yeah, and over the course of call it the ten or eleven years of the

39:56 shale revolution, and having to do things with water, thirty five billion barrels have been put away, and that that equals the volume of Toledo Bend, which is the largest lake in the state of

40:06 Texas, so dang massive amount of water, but because we had the recent earthquake event or seismicity event near Pecos, the five point three, you know, I think you start to see those. things

40:22 outside of climate and emissions come back into focus with respect to, okay, where's industry going with putting water away and inherently incompressible finite places when we're talking about

40:34 increasing volumes of water just like we are. Yeah, 'cause there's a real theory that the possibility of you've got fractures fall and you put a bunch of salt water in there, guess what? You

40:45 lubricated it and you wind up getting earthquakes. Well, that's not a stress It's also just over pressuring formations and things of that nature. But one thing it is doing is driving innovation and

40:57 water recycling and treatment. True. And so there is a silver lining of this. No question. A lot of pressure for those solutions to come out, which one will only be valuable for one with gas,

41:09 but probably be valuable to many different industries or aspects of - And that was the first JPT article I've read in quite a long time

41:20 You know, fool me. All right, last thing, real quick, 60th anniversary of the John F. Kennedy assassination on Wednesday, I wrote my senior thesis at Rice on the Kennedy assassination. Oh my

41:31 God, Clyde Pro and see how many times that has been mentioned. I know, it's like, Clyde Pro is gonna be, now that it's on

41:36 Microsoft, AI. Yeah, exactly. But anyway, I have not watched the Paramount, what the doctor saw yet. So Mark, I'm gonna get you to summarize that in just a second The interesting thing that's

41:49 kind of come out recently that stirred the debate is a Secret Service agent name, Paul Landis, has said that at Parkland Hospital, he took the magic bullet off of Kennedy stretcher and put it on

41:57 Conley stretcher. And if that

42:08 is the case and there's a whole notion of in the Kennedy assassination, when somebody remembers something 60 years later, Oh, okay, maybe you're writing a book. money. I mean, I get that. But

42:22 the flip side to it is, if that's true, the single bullet theory could not have happened. Because as the Warren Commission stands today, Oswald's first shot totally missed the car, hit a curb,

42:36 shot a piece of concrete up and hit James T, caused him to bleed on his cheek. Then the second

42:44 shot went through Kennedy, took out and then went through Conley, and then the third shot went through Kennedy's head and ultimately killed the president. If that bullet was not on Conley's

42:59 stretcher, but was on Kennedy's stretcher, you can't have the single bullet. And most people, there's a lot of skepticism on whether one bullet that looks perfectly intact could have gone through

43:12 and caused all the damage to both of them So mark you watched it. Yeah, it's on Paramount plus and if you don't have Paramount Plus, it's worth the one month and then the cancel, it's about two

43:23 hours long. And really it centers on the eyewitnesses and the doctors who were at Parkland in trauma room number one, there were seven of them that are both interviewed individually and then they

43:36 come together at the end. Most of them have passed away. These interviews were recorded in I believe 2012, 2013. And a lot of the observations center on the fact that the president had a wound

43:51 right above his tie in his throat that was uniformly described as what looked like an entrance wound. Yeah. And just a little bit of color real quick. So dad went to southwestern med school. The

44:05 teaching hospital was Parkland. All the folks in that room were my dad's professors. It was also the county hospital for Dallas. And what dad will tell you is you are not at Parkland Knowing the

44:18 difference between an entrance and an exit wound in what it is what did he say about that collection of doctors as well and Dad has always said that Kennedy was dead when that when that bullet hit his

44:28 head, but if he had a shot to live, it would have been because of the collection of medical talent in that room, dead so that was the most amazing group of doctors ever brought together, so so

44:38 there there is that evidence that they directly observed and wrote notes about which were subsequently confiscated and destroyed, and the fact that they had to to intubate and and do a tracheotomy so

44:51 that wound was already there in. Basically the The official autopsy was worse. Overseers were saying well, That's that's just a function of of the intubation and kind of the. The having to punch

45:04 that whole. The second thing is is that the observations all very clear headed, and and this is a hospital that adult with like five thousand gunshot wounds a year, so they're expert, is the

45:14 hospital, so any one shot? It didn't have insurance went to parkland, and so the back of the president's right side of his skull was missing a a pretty large chunk, priya and subscribe from an

45:28 accent, right, Yeah, Yeah, I mean, if but if that's usual, If you've ever hunted big game, you know what entrance and exit ones look like okay, and so they will the president out. If you have

45:39 had big game, I had, I don't game. I guess they should go navy.

45:45 As Dr. Dr. Arose, Doctor arose, who was the county county medical examiner and dads pathology attempts, or attempted to stop the gurney that was wheeling the president's body out to take it back

45:58 to to see Bethesda in D C as quickly as possible in state law at that time when there was a murder in that particular in a particular county, that autopsy had to be done. According to state law,

46:12 well secret service agent picked Dr. Rosa by his lapels. The way as described in basically said you need to get out of the way, Yeah, and furthermore, at the end the doctors who were completely

46:25 in over their heads at Bethesda who conducted the autopsy were doing things like allegedly cleaning out all of the. They. They removed his brain, and they cleaned out all of the bullet bragg

46:36 fragments from the skull cavity, and then put it all back together, in fact in, in, even in fact, sewed up the the spot in the back of the skin was supposed to trace the go through, and you sly,

46:47 so you can trace, yet. They didn't even trace the the back when they stuck their finger. Let me ask you a question. Yep, just say that we had a evidence that the official story isn't true. What

47:02 does it mean Like what happens like Even see us with I stuffed the day of like Mean This is this stuff around Kovac That's just not. This is. Doesn't that doesn't jive with the full story, but the

47:13 saying like it. It becomes evident that it is true like. The CIA could come out right now and say, hey, we killed John F. Kennedy. And guess what? Like what? What happens? What changes?

47:24 Everybody's dead. That was involved. I think that there's a natural inclination that people, you want to say 10-foil hat on big eye, big on big conspiracies are big. When something's too big,

47:37 people can't rationalize. In this case, it's too big. So we're like, it's 10-foil hat. So that's why people are like, man, if I go out on a limb saying, there's no way this happened. It's

47:49 fake. He was actually, he was a conspiracy beyond one single shooter. You're made out to be crazy. But see, here's, but here's my real question though, is like, say it's not 10-foil hat we

47:59 have, I mean, just 100 proof that official story is wrong. So a CIA contract killer shot. Let me relay it to it, let me relay it to it in our story that we kicked off on There's a multi-billion

48:13 dollar organization that does stuff in AI. And it's kind of fucked up because people really want it and see how much money you can make their what just happened over the weekend, a huge coup, and

48:26 guess who winds up at the big shop is the ceo that sort of been orchestrating this from the beginning. When A when a lot of money or power come into play, weird shit happens, and in this case nears

48:39 no way our federal government. If they're guilty. Y'all make the decision is ever going to come out. Gone. We did it that are going to be like we don't know it happen. Because it's too. My point

48:50 is if they did come out and said they did it still doesn't matter. Doesn't matter like so like what she doesn't change. No one's going to light known to do anything. Lai. It's like Oh, yeah,

48:60 like Mark screaming without any more charge. Finally gonna record a podcast like I told you fuckers. I was right, and that's a. That's like the The fallout from so one last thing, and I read this

49:09 this morning separate source, David Blackmon writes a substance called energy transition absurdities. But he has a sidelight. He's a real aficionado on the assassination. Studied it for decades

49:20 has done a tremendous amount of research, and I don't subscribe to energy absurdities, although I will now, but the part I was able to read that was free was talking about, Look to understand what

49:32 happened in nineteen sixty three. As you piece all this together. You really have to go back to Prohibition in before there was an F B, I and C I, A, formerly, you had the, as he described it,

49:45 you had the Italian and the Jewish mafia, who were really running amok that ultimately Jfk and Rfk were trying to rein in trying to rein in, in fact, so you, you can come up with all kinds of

50:02 threads in that build up of history that converge with those players defined as the F, B, I, the Cia and then. JFK and RFK and if you've ever seen and

50:18 what was Scorsese's long kind of epic on Hoffa the Irishman Yeah Yeah Yeah you Guys are watching them though the whole RFK

50:32 Saga through the mirror that write so well cause that's because you're bringing up the whole point as we talk about the CIA killed Kenny it literally could be US forgot together because the CIA the

50:45 Mafia the Anti Castro Cubans etc they were all running in the same circles trying to do stuff and so using your contract bits and pieces from all those different organizations causes all of those

51:00 organizations to cover their tracks even if it was just Yeah right Yeah so Yeah anyway fascinating stuff call at the check that out man we went across broad spectrum today from opening a holiday math

51:12 game Yeah, it is a holiday hope everyone has a great Thanksgiving will be back next week, so you've got plenty of time to listen to the show Share with a friend.