Ed and Paul dive deep into OpenAI’s massive long-term compute commitments and what it means for the company’s economics, competitive positioning, and the broader AI arms race. They break down the tension between explosive revenue growth and unprecedented spending, the venture-logic behind “land-grab” behavior, and the risks these commitments pose to both vendors and competitors. 

In the second half, the conversation turns to Microsoft Teams, the EU’s antitrust ruling, and the messy realities of bundling, competition, and predatory pricing — all served with classic Results Junkies candor, startup-operator logic, and more than a few cheeseburger metaphors. 

Topics & Timestamps 

00:05 – Opening banter & travel logistics Ed and Paul compare time zones, Vegas scenery, and the eternal quest for a cheeseburger. 

01:04 – Housekeeping Where to find Ed and Paul online; quick reminders for Results Junkies listeners. 

01:20 – OpenAI’s staggering compute spend Discussing the article outlining OpenAI’s commitment to tens of billions in annual compute spending — and why the math seems wild compared to current revenue. 

03:20 – Revenue vs. spend: does the model scale? How OpenAI reportedly moved from $1.7B to $12B annualized revenue in ~18 months — and whether that trajectory justifies a $60B/year commitment. 

04:40 – Venture-style land-grab logic Why this looks like a classic “spend now, dominate later” strategy — just at an unprecedented scale. 

06:00 – What happens if OpenAI misses the commitment? Exploring the vendor-risk problem: what does a partner do when they’re left $10–20B short? 

07:27 – Founders vs. investors: who’s really risking what? Why downside risk isn’t shared equally — especially when founders have little capital invested. 

08:04 – Barriers to competition increase dramatically The larger these commitments get, the harder it becomes for smaller AI startups to realistically compete. 

08:35 – Capacity lock-up strategies Why monopolizing vendor resources may be a conscious competitive tactic. 

09:17 – Transition to Microsoft Teams & Slack’s EU complaint Ed outlines the EU’s ruling requiring Microsoft to unbundle Teams and adjust pricing. 

10:58 – Is this really a European-only issue? A look at how bundling plays out in the US market as well. 

11:36 – The role of precedent Can EU regulatory pressure spill into US practice? 

12:22 – Government-mandated pricing: tricky territory Paul reacts to the idea of regulators dictating price gaps — and why it feels risky through a startup-operator lens. 

14:01 – Is Teams effectively a “free burger”? Ed argues that bundling Teams at near-zero cost resembles predatory pricing designed to box out Slack. 

15:49 – Revisiting antitrust basics Where’s the line between aggressive competition and anti-competitive behavior? 

17:33 – Airline analogy: when incumbents crush challengers Ed recounts how United Airlines once priced a regional competitor out of existence — and why the dynamic resembles the Microsoft–Slack situation. 

18:59 – Could giants always “out-capacity” challengers? Why big players can add supply and out-discount smaller competitors indefinitely. 

20:01 – Independence Air and the Dulles example A real-world case study in predatory pricing and market power. 

22:12 – The free-market debate A nuanced discussion on where regulators should intervene. 

23:01 – US vs. Microsoft (2000s) Why the landmark browser-bundling case still matters today. 

25:17 – How defaults create de-facto monopolies Browsers then; team-collaboration suites now. 

27:01 – Why Teams frustrates so many users Ed’s legendary rant: stability issues, UX complaints, and cross-platform challenges. 

28:29 – The cheeseburger episode idea A running joke about turning Results Junkies into a Bourdain-style food-and-business hybrid. 

28:48 – More Vegas talk & logistics Travel schedule, long hotel stays, and construction-trip life. 

30:07 – How Vegas won over Dana Why today’s Vegas is more dining and convenience than chaos. 

30:30 – Cheeseburger Day, store openings & invites Future events, potential travel, and family logistics. 

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Orchard AI is making it easier for farmers to harvest better crops. Will companies like this help the agriculture industry rely less on migrant labor? 

And, is everyone lying about AI usage? Paul asks that very question. 

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Is there really a market for single-use hardware devices? 

Should AI regulation happen at the state level or the federal level? 

Anthropic is throttling some of their biggest subscribers. 

And, Open AI makes the difficult decision NOT to acquire a company so Microsoft can't get the IP, only to see Google step in.   

An early-stage company in Ed's portfolio has a unique opportunity to pre-empt their next round. Paul and Ed discuss in detail. 

Health tech seems to be having a moment in the ecosystem. Paul offers his perspective based on his current role.

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Paul and Ed turn into middle school boys as they discuss a new AI-powered startup. 

Is Jony Ive poised to release the next "must have" device for millions of people? 

And, is Fortnite back on the Apple app store for good?

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Prompt engineer was the hot job 2 years ago. It was a well paid position that companies were clamoring for. And, then, it wasn't. 

Microsoft bought Skype for $8 billion. That investment has yielded....Microsoft Teams? As Skype sunsets, we ask if Microsoft got their money's worth. 

And, we wrap up with Bezos getting into the car game....with crank windows.   

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Paul and Ed discuss the standards for employee stock options pools and how a portfolio company can deal with a unique situation. 

More large AI models are adopting a common protocol for how to transfer data. 

Lastly, Paul brings up some important points from the CEO of Shopify. 

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It's not exactly Moore's Law, but the size of the tasks that AI agents can take on continues to increase at an unbelievable pace. 

Google continues to weave AI into their travel services, including some new features including price tracking on hotel reservations. 

In the fight against AI web crawlers, some developers have employed an interesting tactic. 

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Paul is sharing his real world recent experiences with ChatGPT. He's upgraded to the paid version of ChatGPT and has some interesting experiences to share. 

The DOJ is reconsidering their stance on the Google lawsuit. We're digging into the changes. 

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Apple is investing half a trillion dollars in the US.  What will that look like?

And, Ed did a bunch of research with ChatGPT's Deep Research.  Is it worth the price?

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Google Gemini has a good memory about your past conversations, so it can use previous info to give you better answers.  Is that good....or bad?

And, Cursor built a $100MM ARR machine with only 12 employees. Talk about the power of AI.

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AI had a prominent role in Super Bowl commercials this year, at the same time that Sam Altman was talking about the potential dangers of AGI. 

Paul and Ed also talk about a new AI research tool. 

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It's a complicated time in the IPO markets right now. Will 2025 really be the year things open up? 

And, Google is giving their customers more features, but making it awful hard to say no to taking their data. 

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DeepSeek, a China-based company building an AI model to compete with the likes of ChatGPT, has released a model that uses significantly fewer resources than other leading models. This led to quite the uproar. 

Multiple unicorns in the travel space indicate a ramp-up in valuations and interest in the sector. Paul and Ed are digging in. 

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The cost to move goods from Asia continues to increase amidst the uncertainty of another port strike. Hardware startups need to pay close attention, and may need to consider moving their production into North or Central America. 

Nvidia is dealing with government restrictions while they're also rolling out a new desktop AI computer. 

And, for less than $500 you can have your own reasoning AI model up and running.

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A sizable new fund points to tougher fundraising conditions for late-stage startups. 

Turo is an example of a startup that has avoided liability by holding renters and owners responsible to help grow faster. 

Microsoft is giving you AI, whether you like it or not.

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We're ending the year where we began, talking about layoffs in the tech world.

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Investors are getting irritated with how some founders are using fundraising proceeds.  Hear Paul and Ed's take.

And, Ed shares a story about a chance meeting with a founder that Paul and Ed both invested in.

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Part 2 of our on-the-road office hours.

Paul and Ed hit the road recently with the founder of one their portfolio companies. Julian Kheel, founder of Points Path, traveled to Sioux Falls, South Dakota to spend time with Matt Paulson, CEO of MarketBeat. 

They're conducting office hours, coaching Julian on how to grow Points Path. We thought you might like an inside look into how investors and mentors coach founders. Hope you enjoy the show!

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Part 2 of our on-the-road office hours.

Paul and Ed hit the road recently with the founder of one their portfolio companies. Julian Kheel, founder of Points Path, traveled to Sioux Falls, South Dakota to spend time with Matt Paulson, CEO of MarketBeat. 

They're conducting office hours, coaching Julian on how to grow Points Path. We thought you might like an inside look into how investors and mentors coach founders. Hope you enjoy the show!

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Paul and Ed hit the road recently with the founder of one their portfolio companies. Julian Kheel, founder of Points Path, traveled to Sioux Falls, South Dakota to spend time with Matt Paulson, CEO of MarketBeat. 

They're conducting office hours, coaching Julian on how to grow Points Path. We thought you might like an inside look into how investors and mentors coach founders. Hope you enjoy the show!

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Paul is wondering when members of the public will have their first "A-HA!" moment with AI. He's also wondering if AirPods are his answer to a self-perceived loss of hearing.

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Apple made a small change to contact sharing that aid customer privacy.  It's causing people to lose their minds.

And, Google now has the rule book for how a judge will enforce competition with the Google Play Store.

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Google, Amazon and Microsoft are all using AI credits to pick winners and losers in the startup ecosystem.

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Paul has been quietly fundraising for Strata and is finally ready to talk about the entire process. If you have additional questions for Paul, e-mail us at show@resultsjunkies.com and he'll answer them live on a future show.

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Amazon is requiring all employees to return to the office 5 days a week starting in January. Is this for culture or to force some employees to move on to their next opportunity? 

AI laws rolling out in California cause us to ask a lot of questions right now. 

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Klarna's CEO is back in the news again with the announcement that they plan to rip out Salesforce and Workday. 

And, a long article details a number of ways that companies may inadvertently run afoul of risky issues involving AI. 

Lastly, check out my travel podcast Miles to Go for free access to a new tool that helps you figure out whether you should use cash or miles the next time you buy an airline ticket. 

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Klarna is back to cutting headcount with AI, now up to 50% of their 2022 headcount.  And, Sea-Tac is struggling with a massive data breach.

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Paul and Ed are breaking down the math of a recent acquisition to illustrate headline numbers are not always exciting.  Here's the full scoop on the Truepill acquisition.

Plus, where are all the good tech employees?

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Paul and Ed are breaking down the math of a recent acquisition to illustrate headline numbers are not always exciting.  Here's the full scoop on the Truepill acquisition.

Plus, where are all the good tech employees?

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And, alternative app stores are now a reality.  Epic Games wades into this brave new world on both Apple and Android platforms.

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Meanwhile, the market has already shifted away from a direct attribution model.  That presents a number of challenges for both founders and their investors.

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Part 2 of our Figma discussion.  Figma rolled out a new product and quickly took it off the market.  The AI landscape is changing quickly, and products like this are detailing how complicated the upcoming months will be as the technology develops.

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As social media has expanded into the workplace, "employee influencers" have become more of a reality 

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An interesting trend from recent YC companies has us wondering if founders are changing how they fundraise.

Are smaller raises (for higher valuations) the new norm?  What are the positives and negatives of this strategy for founders.

How should investors think about this development?

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Also, did AI just have an Apple Moment?

Paul is quizzing Ed on why there's no Mint.com equivalent in the travel space. 

Paul and Ed are looking at an interesting development, VCs involved in AI deals selling shares on the secondary market in SPVs. 

And, OpenAI seems to be coming clean a bit more on their exit agreements with employees.
 

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If you work at OpenAI, you better not say bad things about the company.

OpenTable  has walked back their previous bad decision on customer privacy.

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A cautionary tale about accelerators gone awry.  And, Reddit notches another AI deal.  Is this a good thing for Redditors?
 

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And, there's plenty of outrage over this new Apple ad.  Paul and Ed are sharing their view.

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They're also debating whether a recent change to the tax code that will drastically impact some startups and how they need to account for their development costs.  This one is bound to trip up some founders who don't budget for this shift.

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Paul and Ed are talking about AI agents and how founders might be able to find early (and worthwhile) exits by selling to the kingmakers of AI earlier in their growth curve. 

Then, to wrap up, Paul and Ed really mix it up on the story of Hopin, and whether the founder did right by their employees.

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https://youtu.be/TX7bVG2M2l8

As a founder, one of your jobs is to build trust in your product.  Open Table's latest actions teach us a lot about the wrong way to do this.

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https://youtu.be/TX7bVG2M2l8

Paul and Ed also discuss a concept that came up on the new BG Squared podcast that we also discussed on Results Junkies a couple of months ago.  

Companies like Microsoft and Google are monopolizing the compute assets necessary to build a LLM or AI startup.  How much will that impact the ability of startups to grow in this new ecosystem?

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Open AI comments about their new Sora platform are damaging. 

But Sora.....Sora is something to behold. The next wave of AI is pretty incredible.

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Google's Gemini "build in public" is messy.

And, Klarna is crushing it with AI.

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Paul and Ed are back from South Dakota.  They recap their time at Startup Sioux Falls and share their thoughts on the startup ecosystem.

Reddit is going public and the economics of the deal may help tell us where things stand in the startup world right now.

Florida's legislation is working on a new law that will affect how B2C startups can grow.

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Ed asks Paul if he's more likely to invest in a new startup right now or write a follow-on check to an existing portfolio company.

And, Apple is making some changes overseas based on new legislation.  Will we see this move to the US?

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At the same time, Apple is reaching out to publishers to strike content deals to train their own AI models.

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Adobe and Figma announced a mega-merger well over a year ago.  Now, regulators have said they won't allow the merger.

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Sports Illustrated made a major decision based on some issues around AI.  Paul and Ed dig into the details and hypothesize about the future of rules around AI.  

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Amazon has been busy, announcing they'll be selling new Hyundai vehicles and training up to 2 million people on AI.

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YouTube single-handedly crushing ad blockers?

Apple's disappointing laptop results.

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Google is making a massive defensive bet.  Paul and Ed wonder what the future holds for this and that "fruit forward" tech company that has been somewhat quiet on the AI front.

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A competitor stole his voice and used it against him.  What happens next?

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Meta is considering a pretty massive change in how they charge customers.  Netflix is raising subscription prices.  X is considering multiple new pricing plans.  These three price increases couldn't be more different.

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Peloton and Lululemon are combining their strengths in a new deal.

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Paul is wondering about recent Delta Air Lines changes and why more big companies don't become banks/credit card issuers.

And, Ed has a poll up about whether Paul will actually buy a computer.

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A UAW strike points out the advantage Tesla has.

The Instacart IPO follows another recent successful IPO.  Is the market shifting?

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Meanwhile, Y Combinator has graduated their latest class and one investor has an interesting perspective on the valuations and traction from the current cohort.

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And, this could quite possibly be the worst SPAC ever, but it's clearly one of the worst in recent memory.

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Stack Overflow, a popular tool for coders, has seen some incredible changes in traffic.  Is this due to ChatGPT "learning" their database of questions and answers?

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Separately, they dig into Overstock's purchase of Bed, Bath & Beyond and Paul is wondering how many coupons his mom has left.

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Google is testing a new AI tool that writes news articles, and Ed is wondering if it will replace him.

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Meanwhile, the  office environment continues to change as some sizable companies shed office space.  How can founders take advantage of larger corporations moving to a decentralized workforce?

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Paul has been thinking about an acquihire. In the current economic climate we're going to see plenty of these.

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Paul also checks in with a Strata update.

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Alongside that, a sizable REIT is walking away from a massive asset in a very big city.  What do Paul and Ed see in the tea leaves.

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The FTC is taking on Amazon in regards to alleged shady business practices around their flagship product Amazon Prime. 

And, Tesla's charging protocol is quickly ramping up to be the standard in the US.

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You can sign up for their newsletter to get all the details.

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They're also discussing Google's adoption of stricter "return to office" policies.

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And, this article about Reddit's recent changes illustrates the real platform risk for founders.

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Also, Paul and Ed are talking about whether they are investing in AI startups.

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Rackspace suffered a ransomware attack earlier this year which caused them to shut down one of their legacy systems, one they used to dominate the market in.

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There are plenty of signs that late-stage funding is drying up at a remarkable rate.  That means founders need a very different mindset.

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Investing in companies that use ChatGPT is going to be an interesting mine field.  How do we get the AIs to forget something if we're ordered to by law?  There are a lot of details to work out.

Oh, and Paul thinks Ed is a psycho.  What else is new?

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Twitter is suppressing Substack links on Twitter.  Are food fights the future of social media?

Netflix is ending their DVD-by-mail service.  Paul and Ed had no idea it still existed.

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A founder is indicted in relation to an item we discussed a few months ago.  

And, Instacart raises their internal valuation, which raises Paul's blood pressure.

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Paul and Ed are also digging into the comparison of Stripe and Adyen.  It's an interesting look into the world of credit card processing.

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Stripe is raising money at a bit of a surprising valuation.

And, Paul shares a tweet that makes Ed see red.

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A recent contract with the Air Force illustrates how public markets and for-profit companies may not always be the best place to monetize.

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And, Sequoia is chasing returns outside of North America.  Is that an indication of the quality of US-based startups or does it speak to the growth potential "everywhere else"?

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Paul asked Ed what he's seeing from portfolio companies in terms of their quarterly planning.  Should companies be hunkering down or pressing hard?  

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And, Ed finally gets the chance to ask Paul the trivia question he's been dying to ask for weeks.  Don't Google the answer ahead of time, see if you can guess.

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We're also talking about the interesting intersection we think ChatGPT is at right now.

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However, on the subject of the quality of cold pitches, Paul and Ed are 100% aligned.  Meanwhile, one of our listeners has a different take on how effective those cold e-mails might be.

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Microsoft has a proposed deal with ChatGPT that made our jaws drop.  We may never see another deal with a structure this unique.  Will it get funded?

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Meanwhile, we delve into the world of Microsoft machines and how much they control the privacy experience versus Apple.  And, we wrap up with a discussion about whether a large paid TV provider like Netflix is "too big to fail".

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They also spend time trying to figure out how much YouTubeTV costs and whether it will be the biggest area of Google's growth in years to come.  

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And, Twitter continues to release features quicker than any time in recent history.  That's a great example for how founders should be thinking about their own products.  The most recent feature releases make Paul and Ed think that Twitter may have its sights set on LinkedIn.

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Meanwhile, Apple is in the news for some European developments that could completely change a big part of their business model.

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Ed put together a spreadsheet to dig into the quarterly metrics for three popular platforms, Door Dash, Lyft and Uber.

Paul is still pushing updates on Beacons and the guys promise to talk about LLCs and divorce attorneys next week.

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Paul and Ed go deep into a discussion about entrepreneurs being subject matter experts on what they're building.

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Paul and Ed discuss this phenomenon of cold pitch e-mails.  They both get an unbelievable number of e-mails from people who they've never met, all looking for an investment.  Hear how many of these Paul and Ed have invested in.

And, how can the guys not offer up an opinion on Twitter with everything that's happened lately?

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After that discussion Paul and Ed are talking about two decks they received recently.  We almost named this episode "Founders:Entry Point Matters" because of how important this detail is.  The market is shifting, and current values are definitely more in the favor of the investor.  But, does that mean these are good valuations?

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Meanwhile, Paul has been obsessed with something Ed said last week and essentially built him a business since the last time they recorded.

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Amazon is going a step further in their quest for airplanes, taking a stake in a major US airline.

Instacart has dropped their valuation significantly twice even in the face of rising revenue and profit.

What to make of TechCrunch Disrupt winners not being SaaS companies?

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Netflix and Disney are changing their pricing model.  Paul and Ed debate which one will come out ahead.

The headline is about some startups producing apps that help Uber, Lyft and Door Dash drivers to make more money.  But, the buried lede is that these companies may want customers to tip more money ahead of time to get better service.

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We check in on Beacons and Paul talks about upcoming weekly newsletters and a potential paywall.

Funding is way down in markets outside of the US.  We shouldn't be surprised, but what are the effects of such a big drop in available funds.

Lastly, Delta Air Lines joins the party of airlines partnering with EVTOL (electric vertical take-off and landing) vehicles.  How will the venture markets react to these companies?  And, since Paul said no to Uber and Airbnb so many years ago, will he say no to EVTOL?

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If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

We get a Beacons update (if you haven't signed up for a weekly Beacons newsletter, do it now) and Paul has started messing with some pretty cool stats on what folks are actually talking about right now.

Paul asks Ed about some travel tools he uses to hack his travel.  Ed's 3 top travel tools right now:

1. Expert Flyer allows you to search inventory for paid and award flights across dozens of airlines and set alerts for what you're searching for.
2.  Flighty is a new app that helps you deal with travel problems when they arise. Ed interviewed the founder recently and Flighty has already saved him a coupe of times when flights got delayed or canceled.
3. Point.me allows you to search over 30 airline loyalty programs with just a few clicks to maximize you airline miles and credit card points.

That leads to a discussion as to why "small apps" can be game changers for consumers and founders.

We'd love it if you'd leave us a rating.  It takes less than a minute and really helps us out.  Just click here!

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

We hear the term "Use of Proceeds" tossed around frequently during fundraising.   Paul and Ed are digging into what a UOP is, whether it's necessary and how founders (and investors) should approach a discussion about Use of Proceeds.

Layoffs seem to have leaked over into the big tech companies, with Google and Facebook quietly going about rearranging and downsizing.

We'd love it if you'd leave us a rating.  It takes less than a minute and really helps us out.  Just click here!

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Ethereum completed it's long-awaited Merge, which reduces energy consumption significantly.  We discuss how this will affect everyone (and it will affect everyone).

FedEx has a very gloomy outlook right now.  Is this another sign of a rough road ahead?

Figma seems to be the only company bucking the trend of dropping valuations, to a staggering number.

We'd love it if you'd leave us a rating.  It takes less than a minute and really helps us out.  Just click here!

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Paul is still wrestling with Beacons. He's promised us a new version of his podcast search tool, keep an eye out for it!

A spoof account on Twitter has Paul and Ed discussing Twitter's business model.  Should they be doing more to help key users?

Paul and Ed spend time talking about Shopify and Amazon.  Shopify, the company helping equip the little guy with the tools to sell against Amazon, is getting picked on by Amazon.  Through a unique solution, Amazon is offering Shopify sellers the ability to have Amazon handle payment for them.  A very interesting fight.

Lastly, Apple launched their new iPhone last week.  Unlike their normal positive messaging, there's a bit of doom and gloom.

We'd love it if you'd leave us a rating.  It takes less than a minute and really helps us out.  Just click here!

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Layoffs continue to mount in the tech industry. Paul and Ed dig into why this hasn't spread to other sectors yet and what you should watch for. 

A comment about a pitch Ed's team received leads Paul and Ed deep down the rabbit hole of all the things you shouldn't do when you're trying to raise money for your startup.  Paul has strong opinions on how to navigate this phase of your company.

We'd love it if you'd leave us a rating.  It takes less than a minute and really helps us out.  Just click here!

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Before we dig into that concept we look at yet another effort by Apple to get employees back in the office, and the effort by those employees to do anything but that.

And, if you're feeling feisty, you can weigh in on Ed's question about Gmail's conversation feature.  

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

YC Combinator is trimming the number of companies in their latest class.  On its own that represents headwinds for founders.  On top of that Softbank is hurting.  If those hundreds of millions are on the sideline that will create an even more challenging environment to fundraise in.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Fundraising continues to shift to an environment where VCs have more leverage.  If you're raising money there are still ways to make your company stand out.  They require ruthless transparency and an understanding of the biggest challenges your company may face.

Paul is hammering away at a new version of Beacon that should be awesome.  To be continued....

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Paul is trying to figure out how to move forward with Beacon.  He wants to do some serious work under the hood and also is facing a question common to many founders, how do I monetize?

Lastly, Twitter is suing Elon Mush to enforce their deal. Paul and Ed wonder what good comes of this?  Are there any winners or just losers?

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Ed and Paul dig in a little bit to some slashed valuations and how this should impact the thinking of entrepeneurs (both founders and employees).

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Next up, Paul is launching a new side project called Beacon.  It's a new podcast search tool that transcribes podcasts and makes key terms searchable (think "travel" or "Roe v Wade").  Discoverability is the biggest issue facing the podcast community and Beacon may be part of what changes that.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

It's not all  about beating up on Paul because his crypto strategy is pretty solid (700% plus returns).  We're digging into his thoughts on the current downturn in the market and how he's playing it with his own crytpo investments.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

And, if it's another podcast episode in 2022, Paul and I are looking at all the layoffs that have been announced.  It's a great time for companies still hirin

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Paul and Ed predicted that discussions about CAC would go mainstream and that time has arrived.

Paul and Ed are recapping their bet on how many companies would have layoffs in the past week and it looks like Paul came out on the losing end.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Elon Musk is drawing a hard line in the sand on folks returning to the office.  He doubled down on an internal letter at Tesla outlining the need for employees to return to the office with a Tweet backing it up.

Paul and I are also placing bets on what the layoff pace will look like over the next week.  What's your guess?

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Speaking of market conditions, the cost of diesel is wreaking havoc with shipments as well.  Look for holiday shipping costs to spike and for continued disruption in the supply chain. 

We also discovered this layoff tracker website this week.  While we can't guarantee its accuracy, much of the details there seem accurate (and sobering).

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

The market for fundraising is changing dramatically.  We talked a bit about it in a bonus episode over the weekend in case you missed it.

Paul asks me Ed his opinion on the new Apple watch and the Oura ring, which leads us to discuss how the two of us met.

Lastly, we dig into this concept of "Don't Pay The Landlords For Access To The Tenants".  It's a fascinating discussion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

"PS: If for any reason you believe this message does not apply to your business or you need someone to say it to you in person to believe it…please reassess your beliefs monthly to make sure you don’t. Don’t drive your business off a cliff. Also remember that you can always contact your group partners."

Link to the letter.

This is another clear signal that smart founders should be thinking about their business and how they're going to raise money/reduce burn ASAP.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Elon is negotiating in public for Twitter and the strategy seems to be working.  And, Paul is wondering what the future of work looks like.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Also, did Paul break the law?  He surprises Ed with a question about restaurants to wrap this week's episode.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Ed pitches Paul on a pitch he received recently, though without much information (to protect the innocent, of course).  Why does Paul say it's insane?

Lastly, Paul and Ed take a look at a new Tech Stars fund that focus on underrepresented founders of color.  This fund focuses on the very early stages of these companies.  Paul gets a bit fired up during the discussion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

 Ed and Paul discuss one of Ed's portfolio companies, Point.me.  They buck the trend of disruption, where the vast majority of founders are looking to disrupt the business of incumbents.  It's somewhat rare to see founders causing disruption that helps incumbents.  

Lastly, Paul tees up a discussion on a new type of accelerator launched by Hubspot.  Paul thinks this is a watershed moment for podcasting and creators and he explains why.

Oh, and he's working on a pretty cool new tool that he's almost ready to launch.  

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

A discussion between Paul and Ed brings up a relevant question.  Why don't our phones to more to protect us from bad phone calls, texts , etc?

2:45 - Why Walmart might be setting up a “tech hub” in Toronto (and Atlanta).

5:40 - Why the economic footprint of coworking spaces is more important than the square footage.

16:30 - Ask Not To Track and what ads Paul saw while on hotel wifi. (Hint: behind-the-scenes data sharing is a thing.)

19:55 - My First Million, Sam Parr’s Twitter hack and some opportunities for developers of browser extensions and other apps. Skip to 29:00 for some arbitrage ideas.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Culture matters in every company. We take issue with a tweet from a prominent CEO.  How you build your company and your culture will be some of the most critical thinking that you do. The nature of work is changing, but leaders are still responsible for looking to the future to determine what their core values should be.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Bitcoin seems to be a part of so many conversations but the buzz may not match the engagement level.

Here's a few time stamps to tune-in:

5:15 - How Bump reacted to the original pandemic lockdowns. How that reaction is even more relevant to the Russia/Ukraine situation today.
 

8:30 - will consumers be willing to give up Free Shipping or paying for fuel surcharges?

12:30 - Cash is a key driver. Except in situations like today.

15:45 - why people at Yum Brands and Panera are probably patting themselves on the back right now.

19:55 - Burgers and Bitcoin… and asymmetric bets.

30:15 - Should you wait to get into crypto?

34:20 - the people and companies that are best positioned for whatever’s ahead.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Paul provides feedback from his single opt-in test on his mailing list. If you missed our discussion on whether the gold standard of double opt-in is no longer the standard, you can check it out here.

Oh, and Paul is looking for sweatpants.  Or, boot pants.  Or something.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Paul tries to quantify the time lost by GDPR.  Ed and Paul discuss Facebook's whitewashing of privacy regulation.  Paul is annoyed by the logo on his TV.

Paul raises the point that VC-backed startups may never unseat incumbents.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Key Topics:

(4:30) Paul believes the world is made up of five major cultures divided by language and what that means for high growth companies.
 

(10:30) Why catching up on local culture is the hardest part of expanding into new geographies.
 

(12:50) For founders, putting name brand investors on your cap table is no longer a viable defense. And, why raising at higher valuations or openly discussing your revenue growth rates may be a better strategy.

(17:30) Google vs Apple on user privacy… and why the “average” person’s 401k performance might be what ultimately drives more government attention on this topic.

(21:00) GDPR: good intentions, billions of inconvenienced people and an arbitrage opportunity for browser extension developers.

(24:30) How Facebook is using Hulu advertising spots to influence public perception about their stance on user privacy. And how Rolls Royce and GE put their logo on the side of airplane engines to do the same thing.

(28:25) Craft your narrative and brand consciously — personally and professionally — or it’ll be crafted for you.

(29:15) Why venture-backed companies won’t be the ones to truly unseat incumbents in mainstream industries. And why we think the “biggest” VC-funded wins of the past few years are actually rounding errors. 

They're also digging into why speed and aggression are such key traits to succeed as a founder.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Ed asks the question of whether double opt-in, the gold standard of mailing lists is no longer the gold standard. 

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

Peloton is on the docket.  The current state of the company raises the question of how much capital to raise.  Both founders and investors have strong opinions on the topic.  Paul and Ed weigh in with their own.

And, Paul is obsessed with Wordle even though he's never actually played.  The NYTimes acquisition leads to a host of questions, and leads back to a discussion about Apple's privacy changes and the massive shift they have caused.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul and Ed  online @paulsingh and @pizzainmotion.

The Theranos verdict teaches important lessons for both founders and investors.

Paul talks about the fact that every fundraise has a public and a private story and why they frequently don’t match.

Big box retailers look at e-commerce as a channel.  E-commerce thinks traditional retail is going away.  They’re both wrong.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul online @paulsingh and Ed @pizzainmotion.

When your company needs to pivot, it's natural that part of your team may not be ready/equipped to do so. Leadership has to be bought into the mission for the team to embrace a pivot.

Paul breaks down how personal connections help founders solve problems.

Ed asks Paul if Tech Tour Stops are coming back and they both discuss what a post "Zoom only" world looks like.

Lastly, Paul asks for help from the audience as he moves into a new role at Bump.

They also dig into the different models that Y Combinator and Tech Stars chose 

Paul also has an announcement about some changes coming up for him and his current venture.

Lastly, Ed manages to weave his fascination with Costco into a discussion about making the customer the center of what DTC companies do.

If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul online @paulsingh and Ed @pizzainmotion.

Paul and Ed spend time going over a listener comment from Eric about at-home COVID testing machines.  If you've got a comment or question for the show, you can e-mail us at show@resultsjunkies.com.  You can find Paul online @paulsingh and Ed @pizzainmotion.

Oh, and just in case you want to see Paul's "Pit Vipers".....

With recent changes to CAC  founders are likely going to feel the squeeze when it comes to fundraising. Paul describes why the far ends of the barbel (very early and very late stage companies) will still be able to raise cash.  However, the mid-stage companies will be like the actual barbel in the middle, slim pickings to raise a fundraising round.

Are investors pivoting away from "growth at all costs"  for the companies they invest in?  Paul thinks Ed is being too generous in his opinions of fellow investors on this point.

Is Walmart preparing to take on the likes of Uber and Door Dash for last-mile delivery?

And, Paul drops a question on Ed that may have to wait until next week to get a thorough answer.

This leads to Paul's  assertion that most CEO's wouldn't be proud of their culture if they stopped to figure out what their employees thought it was.

We also discuss Paul's first public appearance on a podcast since we launched the show.  He was on the popular DTC podcast recently.  If you haven't already listened, you can find it here.

While we're talking about podcasts be sure to check out our buddy Mesh's show, Talk Money.

Last thought of the year.  We're you prepared for the black swan that was Apple's change on targeting?  Are you prepared for the next black swan your business will face?

You can find Paul Singh and Edward Pizzarello online. 

Don't forget you can always e-mail us questions show@resultsjunkies.com.

How hard is it to triple your revenue this year and then triple your revenue again next year?  10X-ing your revenue is really hard, and really special.  

Apple's recent changes to iOS have had a major impact on companies of pretty much every shape and size.  Paul shares examples where he's seen CAC double recently due to the Apple changes.

We're talking about the super sizing of Y Combinator, one of the most well-known accelerators.

We also  talk about Paul's idea for a verified revenue API on Twitter.  And, robots ordering burgers.  Of course.

There are more updates on North Star and over 1,000 users giving feedback now.  If you're an e-commerce company it's a zero cost way to keep your key metrics front and center.

Paul makes the assertion that any relationship where you agree 90% of the time is probably not a healthy one.  He also outlines where 90% of the work is actually done.

Paul and Ed are both seeing examples where CAC (Customer Acquisition Cost) is skyrocketing.  Are Apple's new privacy settings causing a ripple effect?

Paul's Google plug-in, North Star is available for download on the Google Play store.  Paul has more planned for a future update but it's ready to track your eCom stats right now.

Submitting to Google wasn't too terrible, easier than submitted the show to Apple Podcasts (side note: we should have called this episode "Something Went Wrong").

We're digging into a major payment change in India and wondering how it would affect US-based entrepreneurs who rely on places like the Apple App Store subscription model to grow.

Paul gives us an update on the acquisition he's been working on since the podcast launched.  And, we talk about diversification and how so many companies do it wrong.

You can find Paul @paulsingh and Ed @pizzainmotion talking about growth, problems, travel and families on Twitter any time of the day and night.

Paul lays out the game plan on why you need both traction and distribution.  Traction is your intellectual property, your secret sauce.  Once you have that figured out, distribution is what keeps people from eating your lunch.

Diversification.  You need it, but most people think about it wrong.

There's a big difference between recruiting and hiring. If you're just doing the latter, you won't succeed.  

Shoot us your questions for a future show.  E-mail us at show@resultsjunkies.com.  Find Paul @paulsingh and Ed @pizzainmotion on Twitter. 

We also end up going down a rabbit hole about technology used in the service industry.  Paul just can't figure out how such a massive industry can rely on so much inadequate technology.

Transactions matter.  Period.   Paul is brewing up a tool you can use to track transaction growth.

Our final rabbit hole this week is the airline industry and why airlines don't spend more time trying to poach each other's customers.  Oh, and we talk about dwell time.  Riveting stuff.

Make sure to hit the subscribe button to be the first to get new episodes as soon as they’re available for download. 

Sign up for our e-mail list

 to get notified as soon as a new episode drops.  Shoot us your questions at show@resultsjunkies.com, and follow us on Twitter. Paul is @paulsingh and Ed is @pizzainmotion.  And, make sure to sign-up for the Results Junkies mailing list to learn how to grow a business everywhere else.

Make sure to hit the subscribe button to be the first to get new episodes as soon as they’re available for download. 

Sign up for our e-mail list

 to get notified as soon as a new episode drops.  Shoot us your questions at show@resultsjunkies.com, and follow us on Twitter. Paul is @paulsingh and Ed is @pizzainmotion.  And, make sure to sign-up for the Results Junkies mailing list to learn how to grow a business everywhere else.

Make sure to hit the subscribe button to be the first to get new episodes as soon as they’re available for download. 

Sign up for our e-mail list

 to get notified as soon as a new episode drops.  Shoot us your questions at show@resultsjunkies.com, and follow us on Twitter. Paul is @paulsingh and Ed is @pizzainmotion.  And, make sure to sign-up for the Results Junkies mailing list to learn how to grow a business everywhere else.

The two spent three years on the road visiting towns across the United States looking for focused founders ready to take on the world.  They disagree about as often as they agree, but they're always focused on results.