Mads is back in London, it's mid-August, and the AI train has once again failed to read the "quiet news week" memo. Dan and Mads go solo on money-go-rounds, half-trillion-dollar backstops, and a robot IPO that's 5,526x oversubscribed.

00:00 – Intro: just the two of us, we can make it if we try, just the two of us, building castles in the sky

01:20 – Markets: FTSE flatlining, S&P at records, UK GDP quietly outgrowing Germany and France. Nothingburgers all round

05:32 – A $2–3 trillion AI IPO... timed for the US midterms. What could possibly go wrong?

06:31 – Thrive Holdings: Friend A pays Friend B to buy Friend C. It's fine. It's a billion in revenue. It's fine

08:40 – Mistral reselling Chinese open-source models. Frontier lab to neo-cloud in one graceful pivot

11:20 – Gemini hits 1B users; Google pays $1.5B for a 100-day-old startup. Regulators, look away

13:44 – Nvidia lines up $500B+ of Wall Street money and guarantees a quarter of it. Compute is now an "investible asset class," apparently

22:42 – Zuck's 6,500-word ode to open source. Dan calls bullsheets

29:00 – Unitree's $9B IPO: iPhone moment or very expensive Newton?

36:10 – Rogue agents: Taiwan's government hacked autonomously... and one AI socially engineers its way into a Pilates class

40:20 – Why American plumbers out-earn British graduates

48:41 – Prediction: reverse acquihires land in Europe

49:07 – Deal of the week: Cambridge Aerospace's $300M Series C

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