Mistral's €3bn, Europe finally reaches orbit, and Anthropic says no to the UK. Mads is off. Pri and Andrew Scott step in.

00:45 – Elizabeth Holmes gets a documentary. Sam Altman gets a Christmas Day movie. Nobody asked for either.

03:00 – Personal AI agents want your credit card. Dan downloaded one and got the fear. Trust is the whole game now.

04:36 – Markets: ECB to 2.5%, 10-year kissing 5%, Brent over $100. Bad for us, worse for founders. Oracle's $664bn backlog: believe what you like.

05:48 – Europe raised €3.2bn in August. Everyone was on a yacht. Amazon issues sterling bonds. Revolut gets a US banking licence.

06:53 – HR tech: Andrew argues you can't automate the pub lunch. Pri disagrees.

10:10 – "100 Days to Save EU Inc." Clickbait title, real problem. Article 4 is the trapdoor.

15:00 – $2tn of unicorns built by Europeans elsewhere. The talent was never the problem.

17:07 – Isar Aerospace: first orbital launch from European soil. One tonne. Starship does 100. Nobody in Europe is building heavy lift. Andrew is upset.

22:49 – Global public debt passes $100tn.

23:29 – AI Corner, sans Mads. Anthropic withholds Mythos from the UK's AISI. Frontier access is now gated by passport.

26:57 – 1-bit LLMs, on-device models, and why the GPU arms race may be overbuilt.

29:46 – Gordon Brown writes "innovation is the answer." Andrew's head is in his hands. Three of his LPs have left the UK.

32:54 – Anthropic's economic scenarios: 32% GDP growth, labour share collapses 14 points, robotics excluded. A lab modelling its own prize.

41:31 – An Anthropic engineer quits, predicts extinction. WSJ has the "exclusive" within 18 minutes. Both camps say "regulate me, fund me."

48:25 – Predictions: world-class models on standard kit within six months. A €1bn+ European physical AI round within 12.

50:22 – Deals of the Week: Mistral (€3bn at €21bn), Cognition ($2bn at $48bn), The Exploration Company ($450m).

52:48 – Week ahead: Dan takes a MAGA hat to LA. Pri to Cambridge Tech Week. Andrew has cancelled all his meetings to "produce work."

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