It was never worth an associate's time to strip every KPI out of every CIM that crosses the desk. At $20 of tokens, it is. No guest this week. Brett Caughran and Khe Hy on the work that just became economic, and why the hard part is no longer the technology.

The Mac Minis people bought to run OpenClaw mostly run Codex now, and the reason is reach: sessions on your machine are reachable from your phone. No MCP for DealCloud? The agent drives your logged-in Chrome instead. Which moves the constraint. Both of them train investors on this, and both say the question changed two months ago, from how do I use these tools to what is worth building.

Brett is unsentimental about where that goes wrong. An agent turned loose for 24 hours gives you a long chain of mediocre work and a large token bill. The back half gets into what does work: the five layers, the 20/60/20 primer rebuild, why an out-of-the-box primer hands you Zacks and Motley Fool, and the headless RMS that goes and gets the research sitting in OneNote, Slack, Bloomberg IB, and Outlook.

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Timestamps:

[00:00] Intro
[01:13] — Grokbot, Cursor, and a Three Horse Race Again
[02:56] — Are the Mac Minis Mothballed?
[04:05] — Why the Power Users Moved to Codex
[06:22] — The Always On Machine You Run From Your Phone
[07:27] — No MCP? Let the Agent Drive Your Browser
[09:44] — What This Means for Wall Street's Claude Fluency
[10:49] — Training Shifts From "How" to the Art of the Possible
[13:05] — Brett on the 24 Hour Agent Slop Chain
[14:08] — The Faster Horse Era of AI
[15:00] — $20 of Tokens vs. a $100K Associate
[16:14] — Why AI Makes Lazy Research Easier
[17:24] — Five Layers, and Why Decision Support Is the One
[18:27] — From Answer Engines to Work Mechanisms
[20:38] — The Notion Problem: Staring at a Blinking Cursor
[22:21] — Every Investor Wants Something Different
[23:55] — Rebuilding the Primer Skill: The 20/60/20
[26:36] — Excel Fluent Models and the Boat Pricing Tracker
[28:02] — State of Play: MCP for Investment Firms
[29:57] — Why Out of the Box AI Hands You Zacks and Motley Fool
[31:42] — BlueMatrix, Third Bridge, and AlphaSense's Walled Garden
[32:46] — The Headless RMS and Where Research Actually Lives
[33:50] — The 16 Column Limit Nobody Documented
[37:12] — What a Real Research Dashboard Looks Like
[38:34] — Markdown Extractors as a DIY Knowledge Graph
[41:59] — The Always On Earnings Preview
[42:46] — The Codex Moment for Public Equity AI
[45:53] — Three Pillars of the Midsummer Inflection

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