“The thread that I saw was the balance sheet.” Ray and Toby follow Miro’s announced deal from valuation to idle cash and investor pressure. Full conversation: youtu.be/SuZLAoRr2-E

“VCs want you either to go crazy or die.” Toby on investor incentives when growth no longer supports the old multiples. Full conversation: youtu.be/SuZLAoRr2-E

“What do you think your valuation is?” Ray asks what Miro’s announced deal and Airtable’s sale mean for a smaller SaaS business still losing money. Full conversation: youtu.be/SuZLAoRr2-E

AI may restructure a market before it restructures the company inside it — AI-native entrants start from a lower interface and move value from vendor to customer. Full conversation: youtu.be/MZwIHkmcDmg

Someone who works with a lot of Fortune 500 CEOs says their most common question about AI isn't strategic — it's "when do I get to retire?" Full conversation: youtu.be/MZwIHkmcDmg

CEOs aren't just cutting costs — they're handing headcount to AI. The honest answer to "when do I get to retire?" turns out to be: reduce headcount, and let AI carry the load. Full conversation: youtu.be/MZwIHkmcDmg

Frontier AI models are becoming interchangeable gears in a larger machine — the practical move is choosing the right model-plus-harness fit per job, not loyalty to one model, since new frontier leaders keep displacing the last favorite. Full conversation: youtu.be/p6PijF6Vci8

“The token efficiency is much better — token cost seems to be lower because it's more efficient.” Full conversation: youtu.be/p6PijF6Vci8

“It's actually the thing that surprised me the most about it is how fast it is.” Full conversation: youtu.be/p6PijF6Vci8

Where does value survive when AI models get commoditized? Specialist data, regulated context, or proprietary process — otherwise you become an invisible extension of someone else's prompt. Full conversation: youtu.be/esvm0CLeT0s