Microsoft to Take On Muse, Trump & Xi Dinner, The Mansion Section | Diet TBPN

0:02 we got some debates on the timeline. I I identified four debates for you. You You don't want to call them debates though. You want to call them arguments, fights? >> arguments. >> Okay, we're throwing down. We're throwing down. >> Wouldn't Wouldn't someone rather listen to an argument than a debate? >> First one, Microsoft. Are is Microsoft about to have their Muse moment? They've launched Copilot. Now they're launching a new product today. Is it going to be a breakout success? Is it going to compete directly with Meta and Muse? Or will it be a different thing entirely because it lives in the enterprise, it lives in the Microsoft ecosystem? Let's go to Tech Kim. He says, "Shots fired. Pom pom pom." Microsoft would go after Meta's Muse. From Alex Heath's interview of Satya Nadella, he's doing the rounds.

0:45 Quote from Alex Heath, "He wants to bring Autopilot's AI chief of staff to your personal life, too." It's not staying in Excel, it's not staying in Outlook, it's going to be cooking dinner. >> Big move going from a Copilot to Autopilot. >> Autopilot. Yeah, this is >> It It says a lot about their intentions with the product. >> Yeah. Yeah, it is actually sort of the is this AGI, is this not AGI? Like if you're in the Copilot mode, you're sort of signaling we're not really in the AGI era. Autopilot feels more like although it's a term, it's a vague definition, it is significant in the brand term. So, it's a hardened version of Open Claw. The agent gets its own computer, workspace, and memory to work continuously.

1:32 it'll have its own computer, workspace, and memory to work continuously. When I ask about Microsoft's consumer strategy, he points to its 100 million-plus consumer subscribers. Microsoft broadly, they're going all-in with Autopilot. Autopilot should also go to the consumer side. He sees consumer agents potentially cutting out today's middlemen, making that market more zero-sum. In the enterprise, he thinks agents will make the market bigger than cloud by orders of magnitude. We got room to run. Satya said it himself. He's going to a 300T, 300 trillion-dollar company. I like it.

2:12 >> So, first thought is that again everyone is building the exact same thing. >> >> So, we we went through this for the last few years where >> Everyone chat app. >> Everyone's building the >> The funny thing is that is is the lore on GPT-4. That was first available in Bing. GPT-4, the thing that like GPT-3 three GPT-3.5 powered the original ChatGPT. GPT-4 was only available through Bing. And then everyone was like, "Oh, I guess like Microsoft's going to make a play and Bing's going to be doing AI and like this is going to be a challenge to your Google." And then they sort of like pulled back, but >> Well, not that time when Microsoft was backing up the Brinks truck for OpenAI, they certainly I don't think it was it certainly was non-obvious at that time that they would be creating a company that they would ultimately compete with as much as they are you know, partners.

3:01 >> Peter Steinberger, the founder of OpenClaw, chimed in. He said, "Microsoft shipped a really compelling product on top of OpenClaw today. We worked with them since March to make the codebase ready for large-scale deployments." And of course, there might be some IP sharing agreement, right? Because didn't Oh, no, because OpenAI hired Peter, but they didn't acquire OpenClaw. OpenClaw is open source. >> Yeah, not quite. >> can build on top of it. >> Yeah. >> But what's odd is that I think Nat Friedman stated that they didn't fork OpenClaw. They built something from scratch, but there are just conventions.

3:33 And so, you wind up having similar looking dot dot MD files. It's just like if you build an e-commerce site, you're going to have a product detail page. You might have a similar site map and an architecture. It doesn't mean that you forked Shopify to do that or whatever. So, the the debate point is how big will this be? How what is the actual impact to Microsoft? There is the cool macro tech story, which is just that the models have advanced to a point where there is a new use case. Like they're useful in a new way, not just knowledge retrieval, not just go and write a bunch of code. They are useful, but that requires a new type of harness. Just like when the models got good at code, the harness became very important. We saw Cloud Code and Codex and Cursor and a bunch of other companies Cognition really like defined that era. Now, the models are pretty good with personal agent stuff, sending text messages, talking to people, integrating with Slack, etc. So, the harness and the integrations and the partnerships matter. So, we're talking about partners with Amazon. Who's part Who's going to Who's going to be Amazon's dance partner? Who's going to be Walmart's dance partner? Who's going to partner with Shopify? How big is the open ecosystem? You need a different harness.

4:44 You need different integrations, and you need a lot of new user education because I think there's a lot of people I mean, there's people that are still online being like, "These things hallucinate. Like they have a knowledge cut off." >> Yeah, the main thing with this launch is that I don't think there's anyone on X that's seeing Microsoft launch and an open claw powered agent and thinking, "I got to use that. I'm so excited. I really want it." I I >> Okay.

5:07 >> That's that's my view and I think it's correct and you're free to steal man it. >> Okay. >> That being said, they have such incredible distribution. They can still roll this out to a bunch of people who are going to try it and be like, "Wow, that's really cool and useful and helpful." >> Yeah. >> And be the first way that they experience this new paradigm of agents, right? And so, as much as like I just think there's basically zero excitement from like the core insider agent maximalist, there's going to be just natural excitement from everyday Windows and Microsoft users.

5:37 >> Yeah, it is it is uncommon in tech and maybe it's uncommon in X to like run your entire organization, your enterprise on Microsoft. The default tech stack for most startups is Google Enterprise Gmail. You set up the Gmail account for your for your employees and then you add Slack. So then you're in the Salesforce ecosystem and Microsoft is there, but usually with like one-off Excel licenses here and there for the finance team. Does that resonate with you in terms of like how these products like fit together?

6:11 There's usually some Microsoft, but you have to go to a financial company or like a real economy company to see like, "Okay, these guys are all in on Microsoft as the tech stack." Like Outlook down to Bing down to you know, the databases and like fully integrated Microsoft. It feels like it could be more successful than the old Copilot and a lot of that's driven just by capabilities. The models are better, the harnesses are better, the integrations are better and so the big question is like what what when is Google going to fire back? Because are they going to wait until the next IO?

6:44 Like that's a long way away, but they do love releasing on you know, those annual schedules. So it's like we might get a Google like a crazy Google open claw agent personal agent in mid-2027 and then Apple's close behind in like 2035. Something like that. Would they would launch something? >> I was >> I mean Google does have there is Gemini Spark which is like a 24/7 always-on agent. But like no one >> Does it have a VM?

7:11 Does it have a real virtual machine? >> I mean it says even if your phone and laptops are turned off, it'll still keep running. >> But I've I've seen like very little like no one's really talking about this. >> Anyway, it'll be it'll be interesting to see if there's like you know, a niche community of like yeah, I'm a I'm a I'm a Microsoft Autopilot guy. I mean the CAD integration could change things. It just depends on how you're positioning it. Like if the brand if you talk to someone and they're like, "Oh, you know, are you are you cloud guy? Are you Codex guy? Cursor guy?" Like all those things say certain things about a aesthetically. You're Muse. Okay, we get it. You like the the boo-boo guy. But, if you if you come out and you're like, "Yeah, I'm actually a Microsoft Autopilot guy." That could say two things. It could say excel jockey, king of the financial markets, apex predator predator of the economy, or it could say, you know, dropping a nuke on COD.

8:01 >> Prestige max. >> Prestige max. Don't you think? >> I agree. >> We tell we spent way too long on that. We we we got three more and our first guest is joining at noon, so we're going to bring it in soon. >> we got to figure out a way to to make tensions go up and actually get an argument going here cuz >> We were fighting a little bit. >> That was too friendly. Yeah. >> That was too friendly. Okay, well, >> you wanted to argue that everyone all the tech insiders were couldn't wait to get their hands on Autopilot. That was your stance, right?

8:26 >> Yeah, yeah, that's a tough one. Tough to steel man that. anyway, Dodge designer shared a photo from a dinner that happened at the White House featuring important tech people and none other than Xi Jinping, the Chinese president. So, Elon Musk, President Trump, First Lady Melania Trump, for China's First Lady, AMD CEO Lisa Su, Nvidia CEO Jensen Huang, and Apple's Tim Cook got the prime seating right in front of Donald Trump and they were at the prime table together.

9:01 no translator that I can see in this image. Although, there is an empty chair, so it's possible that there was a translator at this >> The empty chair would almost certainly be for Donald. >> Oh, yeah. >> be >> Yeah, that's right. Okay. So, >> we're going to put the translator just between Xi and Melania. >> Yeah, because because Xi Jinping is he whenever he speaks, he he's he he gives his speeches even in America in Chinese, but he seems to be able to to hang with Tim Cook, Elon, Lisa Su, Jensen.

9:31 Although, maybe those tech leaders at least know that one important phrase if you want to really ingratiate yourself with a Chinese speaker, what do you say to them? >> Wo han chiu wan pi jiu, right? >> >> That's what you got to >> Always worked for me. >> If you're ever seated with Xi Jinping at a dinner at the White House, just throw that down and he'll be like, one of us. >> One of us. >> We Now it's time to deal.

9:54 >> notable that Elon and and Tim, no plus one. They're locked in. >> Okay. >> No time for No time for No time for guests for them. >> What's interesting is that is that Dario wasn't there. He's sparred with the administration before. We've seen this. He's also attended plenty of meetings in DC. And Tom Brown, the co-founder of Anthropic, has been on a reset with the administration and even went as far to praise Trump's let data rain post on Truth Social. This was September 1st.

10:29 He said to Howard Lutnick at the G20 Innovation Ministerial in Chapel Hill, quote, "I really loved President Trump's post from earlier this week." And so there's clearly olive branches going out, but they haven't been fully received because the the dinner invite was maybe didn't materialize or maybe he turned it down. We don't actually know. But I was offered 15 plus ones, maybe 10 plus ones, maybe five plus ones and he decided to lock in and grind for the grind for the ASI.

11:02 >> Well, you know who was there? >> Who was? >> Lynn Martin. >> Lynn Martin >> from President of the New York Stock Exchange, our friend. >> see it. But yeah, it was a stacked stacked list. There's a lot of folks. Sam Altman, Greg Brockman, Anna Brockman, Sergey Brin, Satya Nadella, Sundar Pichai, Cristiano Amon from Qualcomm, our guest this week made it to the dinner, came back from Hawaii, David Solomon from Goldman Sachs, tons of other folks, ExxonMobil. It was really a who's who of the global economy.

11:33 >> A lot of people are saying Tai Lopez was snubbed. >> Yeah. I would have liked to see a Jocko Willink. I would have liked to see a Joe Rogan on this list. Sort of disappointing that they didn't include podcasters except for David Sacks. He He did make it. And also >> a podcaster and a venture guy. >> Secretary Kennedy is also has a podcast. There's actually a a fair amount of podcasters. >> Brad Gerstner podcast.

11:54 >> Sam Altman ran the Y Combinator podcast years ago, Startup School. So, former podcaster. The question is like should should Daria have been invited? I I I think even though they're having beef with the administration, like it's such an important company. It's important that he's in the conversation. He's also has like a very very hard line on China. And I would feel better about his positions on China if he's like, "Yeah, I met Xi Jinping. I really do hate him." Or something like that. I don't know. you know, it's informed from like a 30,000-ft view.

12:26 >> Wait, Daria? >> Yeah, Daria is like >> He worked at at Baidu. >> Yeah, but but since then his positioning has been like, "We got to win the race against China. We have to you know, dismantle authoritarian regimes, etc." Maybe he looks Xi Jinping in the eyes and gets the stare and is like, "Oh, wow. I had you all wrong." You never know. >> Yeah. >> But I I want to see the sit-down happen. Has the AI slop gone too far this time?

12:51 That's our third debate. The third debate that will shock you. So, we can pull up this Cal-she ad. It's their latest direct-to-consumer direct-to-consumer >> For everyone at home, this is a karaoke moment. You're sitting in the office. >> This is going to be on the >> open floor plan. Don't be afraid to start singing. >> Yeah, add it to the to the Spotify playlist. Said Brian Pampas says, "This Cal-she ad is among the most dystopian ones I've seen from any bedding app." And you can sort of hear the AI song over the Pixar-inspired AI-generated video.

13:31 the the lyrics are also odd, not to nitpick, but it says like he sends his girlfriend money and then he's handing her money every month I send her money from groceries. So, there's a lot of like it lacks the polish that removes something from slop. Every once in a while you see a video that is AI-generated, but you're like, "Okay, there was enough attention to detail there." This was Let's just rip it. This is actually a popular format of AI slop that's been going very viral.

13:57 Starts with a really dramatic hook. In this case, the man thinks his partner is having an affair. >> But actually, she's just hedging food prices on cow sheets because she has inside knowledge on the market from working at a bakery in the morning. >> Yeah, so that even though egg prices are going up, she's able to net out and remain even because she is profiting on trading the egg futures market on cow sheet. I don't know how deep the market is. I don't know how real those markets are. Do they really have egg futures markets on cow sheet now? That's kind of interesting. I don't know if you can actually hedge your groceries.

14:35 I want to see a version of this ad from the Chicago Board of Trade where she goes a lot further, gets a Bloomberg terminal, establishes a relationship with JP Morgan, Morgan Stanley. She's visiting the Chicago Board of Trade regularly, trading in size. She's talking to counterparties, Millennium, Citadel. You know, she's on the phone constantly moving huge volumes of commodity futures at scale, kind of elevating herself past just the prediction market small ball, getting into the big leagues. That's the future.

15:07 >> James says, "Would you rather your girlfriend insider trade egg egg futures or cheat on you?" >> No, so this is not insider trading. Like you can actually do this. You can be a baker and realize that prices are going up and and trade the the commodities markets. In fact, the commodities markets are designed specifically to give that signal and that and that that that is the purpose. The purpose is to is to understand, okay, the weather is bad, people can trade that.

15:35 Fundamentally, there's there's no law against insider trading in commodity markets effectively, but there's a question of like, is this a consumer-ready product? Like, is this something that someone who is maybe doesn't have, you know, depth, going to research team, and a Bloomberg terminal? >> one one interesting thing is I I found egg prices up in September. The market right now, there's a 72% chance. >> Okay. >> But, there's only $417 of volume. >> Yeah, but if you're only buying $20 of eggs, that's enough depth. So, it is a viable use case. It's not It's not fraudulent. I think most people are responding to just like the sloppiness and like the the the click-baityness of like the weird hook.

16:18 >> My current concern about the state of the hyper casino that our world has turned into is that like, as an adult, I feel like confident in my own decision-making ability and the ability to see ads for gambling all the time everywhere and still make the call that it's not for me, I'm not interested. >> lost a dollar? >> >> I've tried. >> One weekend. >> John John got to witness me one weekend. I was like, look, I think I should I think I should try this gambling thing.

16:51 It seems super popular. I got to get to the bottom of it. So, I try I tried it. I'm running in the running in the red. >> And this is And this is gambling too. You're you're you're you're you're >> you know, >> stuck in your >> as as a 30-year-old, I've been advertised gambling products for a decade now, right? And my concern is that while adults have the ability to just make the decision, like, hey, this isn't for me, and you have like more >> Yeah.

17:15 >> >> start young, you're more likely to stick with it for a long >> Yeah, but but but young people today are going to go through that growing up on the internet are going to go through this just like they will probably be served like a million gambling ads by the time they're 18. >> It's a lot. >> Yeah. And so >> I didn't get served >> nor- so normalized. It's so a part of society now. It's instantly accessible.

17:35 >> Yeah. >> If you're getting advertised stuff like this that's basically saying like you're sending this message that like this is your way out. >> The deep irony is like the way out is to not participate and be one of the people that makes it through without forming the addiction. >> Yeah. >> but you know, we maybe we need to write a slop ad about that. we want to do a a slop ad like this where it's the same same premise. Oh, I think my partner's having an affair and lo and behold they're just watching TVPN for 3 hours every day getting informed about technology and business news. what do you think about dopamine sites though? Because dopamine sites, which is where >> Explain this.

18:12 >> dopamine sites are are are fake shopping experiences. It's an e-commerce site where you can buy luxury goods, but you don't actually have to pay them and they don't arrive. So, this is from an article shared by Adonis on X. The final frontier of consumerism has arrived in South Korea. quote, "This week I placed orders for a $44,860 Patek Philippe hand-engraved watch, a $12,500 Hermes bag, a $9,800 Tiffany diamond ring, >> Tiffany.

18:45 >> Oh, I like I I didn't realize that was the analog one. That's great. and a $7,350 Cartier love bracelet in yellow gold. I don't need any of them. I certainly can't afford them. Thankfully, they'll never arrive. Instead of Amazon, this individual spent the past week browsing a new breed of website known as dopamine sites, a trend that emerged in South Korea. These site These websites like Dopamine Shop and Food Never Comes Recreate the entire ritual of online shopping. You search for products, compare reviews, add items to your cart, enter a shipping address, place an order, and even track your delivery, but it's all imaginary. Is this not as bad as sports betting? Is this not bad at all? What is this?

19:32 >> it's sort of strange and sad and a reflection of our society that is so infatuated with pure consumption instead of creation. And it's dystopian, but I don't think >> site for TVVN merch cuz you'd never sell it. You just create a cart. >> So, our fourth debate, our fourth and final debate. To what degree is the AI buildout driving interest rates upwards? People are going back and forth about this. Interest rates are spiking, specifically the 10-year yield has jumped 12%, so it's actually What is that? 1,200 basis points or something?

20:13 Because you're trying to you're trying to explain the move in the rate, so it's not that we're at 18%, we're at 5.18%, but we were you know, down much lower in the fours earlier. And it's causing nervousness, you know, last time interest rates went up, venture capital world collapsed and nobody likes high mortgage rates. Can you afford a home? There's a lot of knock-on effects. The vanilla explanation is just the Iran war was unexpected, it caused an energy crisis, that caused inflation, that caused interest rate hikes and expectations for future interest rate hikes and thus interest rates are higher.

20:53 AI is important in driving the economy, but may mainly a side show in this in this story around interest rates specifically. But in tech, there's a view that the data center debt is simply too good to resist and so the capital markets are flooding over there. But there's a lot of debate around this. So Rune said Iran oil prices is short-term driver, but broadly this is due to demand pressure from extremely attractive AI capex opportunities that are borrowing at nation scale. They're certainly hoovering up trillions of dollars. I think the total data center capex hyperscaler debt is now almost 20% of what the US government is is is buying something like that.

21:33 >> No, so it's actually higher. I like to say >> So basically hyperscaler and Nvidia like debt issuance as a percentage of like total Treasury bond issuance through 2026 has been like 70%. >> Whoa. >> So and I think 2025 it was like around 30. >> Yes. and so Astrid Wild says this is correct. Global yields will continue to go higher because why would you invest in literally anything other than data centers when they have such a short payback period and you can throw tens of billions at it. I mean we saw ClusterMax one I think had a few dozen NeoClouds.

22:06 ClusterMax three, which we talked to Jordan Nanos about yesterday, had 326 NeoClouds and they reviewed I think or they rated 200 something of them. And then that's not to mention that there were also data center construction projects from the actual hyperscalers. The labs weren't on there. and then the chip companies Jordan called out. He said like Cerebras will have a NeoCloud and Positron and Etched will have NeoClouds. And so there's going to be a lot more of this. at the same time there's there's the flip side of the argument. Deep Dish Enjoyer says this is definitely currently not true. Those opportunities are not riskless and importantly you can't use private illiquid AI capex as collateral. So if you're a bond investor and you're looking at two different markets, are you really shifting out of government treasuries that are historically the risk-free rate that they have a monopoly on violence, they have the ability to tax their citizens to pay back the debt.

23:08 A NeoCloud that's doing a data center, they go bankrupt, you might actually suffer a capital impairment and and get back 70 cents in the dollar, maybe 90 cents in the dollar. So, there it stands to reason that there is more risk associated with the AI build-out and so they're not completely apples to apples, but I still think that there is probably some sort of effect here. So, it's true that as real GDP growth increases substantially, rates should rise though, but we aren't there yet.

23:37 >> Rowan and Roach has lots of scary talk in bonds these days, but it's mostly recency bias. Since 1960, the 10-year has averaged 5.8%. We're we're at 5% below average. If you'd fallen asleep 20 years ago and woke up today, you'd think nothing happened in the bond market the entire time. Ignore all the sovereign debt crisis talk, inflation expectations are adjusting to something more historically normalized. Carry on. >> Carry on. So, Wall Street Journal is is sort of putting the higher bond yields in context saying the robust US economy powers through rate hikes and rising bond yields. The US economy keeps powering through inflation, tariffs, and higher borrowing costs defying a run-up in treasury yields and a Fed rate increase that has the bond market spooked. The usual economic breaks aren't slowing growth, hiring, or an AI investment boom that looks to be unstoppable. To some, AI's potential return seems so bright that even steep interest rates won't slow down tech companies' investments. And it does seem like the the math on the AI build-out is is is wildly different. I I was talking to somebody who was saying like he knows a lot of people that are falling in love with the spreadsheet and so they want to start NeoClouds and data centers because the payback period is shorter. I also saw an Instagram sort of like course hustler talking about how he bought a bunch of GPUs and is renting them to a data center and and saw that as an attractive opportunity ala like oh I bought a multi-family apartment complex.

25:05 >> He must have watched the the Dylan Patel interview, the recent one DoorDash one. >> Oh, yeah. Yeah, yeah, yeah. I mean this is this is all related to that for sure. and and also a lot of the AI build out, a lot of the AI companies were very much born in the era of higher interest rates. I do believe that if you're a software company trading at a 100x revenue multiple and you weren't forecasting real earnings for 10 years or something like that, like the traditional SAS playbook, and interest rates go from zero to 4%. That's a lot more damaging than okay, you were already born in the era of higher interest rates and interest rates go from 4 to 6% or something. It's just not going to move the needle in the DCF that much because like you were already discounting cash flows in the future 4% and so as opposed to zero, you're basically counting future cash flows as today's dollars. Anyway, that's the take from the Wall Street Journal.

25:59 >> America's newest trophy asset is a country home in the Cotswolds. Cotswolds, can never pronounce that properly. Harry and Meghan's return to the UK has put the region in the spotlight. A bevy of US buyers are looking for homes in the area. >> Mhm. >> not very American to buy or invest out here. Strange to see that it's becoming a >> >> suburban American investment trend. >> Well, everyone saw what Paul Graham did and they said I want to be like that, you know? I want >> That's right.

26:28 >> I want to putter. >> Are you interested? >> Absolutely not. >> Yeah. >> Next next story. Moving on. >> >> A modern home in Silicon Valley though lists for 44 million, sort of the Cotswolds of America, Silicon Valley. Five-bedroom house which features four distinct courtyards, a pool, and is the most expensive listing in Palo Alto, California. Now, I want to do a little tier list. As I read you the various features, I want you to put them in buckets from F tier to S tier. So, I'll read through the article and I want you to quickly assign each feature of this $44 million Palo Alto home a tier. So, for years tech entrepreneur Asher Wald Vogel and his wife Helen McLean dreamed of building a modern house in Palo Alto.

27:17 The couple, however, worried about clashing with the Mediterranean style architecture typically associated with their neighborhood of Old Palo Alto. So, they tapped an architect to design a home that paid homage to its surroundings with stucco, mahogany, and titanium zinc plating. Where does titanium zinc plating go for you? Pick it off. You like it? >> >> A tier. >> A tier, okay. We're leaving some room for even better feature. They spent 20 million over several years building the house, completed in 2005. So, now looking to be closer to their adult daughter on the East Coast, they are putting the five-bedroom home on the market for 44 million. The couple purchased the roughly 0.4 acre site. In terms of lot size, where are you putting 0.4 acres? Is that enough? F tier. F tier. Wow, okay. You you need at least 3 acres to really make a make a splash and earn S tier. They demolished the circa 1930s Spanish colonial home. The house they built pinwheels around a central staircase. What do you think about houses that pinwheel around central staircases?

28:19 >> I like classic California one-story ranch-style homes. >> You don't want a staircase staircase at all. Okay, because the alternative is two staircases. You have a front staircase, a main entryway, and then a back staircase. >> Yeah. >> This is a central staircase, but you're a no staircase guy. So, where is in the wheel around >> Once the kids are are grown up >> you introduce the staircase. >> I could explore it, but for now I'm putting it staircases in general going in D tier.

28:46 >> D tier, okay. Staircases are out. it has it has 7,900 sq ft of livable space. Where does that go? >> Split across multiple floors. I'm going B-tier. >> B-tier, okay. Four distinct courtyards. Are you a courtyard guy? >> Problem with courtyards is like they're they're very cool in theory, but how often are you actually like it's really just like a it's really just it's like a feature that goes unused. >> Sure, sure, sure.

29:16 >> average courtyard gets like 5 minutes of someone's time annually. >> So, I'm hearing like a C-tier. >> D-tier. >> D-tier, brutal for the four courtyards. What about the pool? It's got a pool. Where are pools for you? >> pools are still underrated. >> Okay, so what tier? >> a lot of people would say pools properly rated. Everyone thinks they're great. I think they're better than than the average person thinks a pool is. >> I'm hearing S-tier, isn't it?

29:42 Pool is S-tier, okay. >> We need to I want to see what the pool looks like. >> Key feature of the home is a cast-in-place concrete wall or spine. What do you like a Do you like a spine in your house? Concrete wall? Two stories high, 80 ft long. There's a little bit of controlled chaos. >> I like it. It's sort of a continuous theme through the home. >> I'm into it. >> B-tier? >> B-tier. >> B-tier, okay. he says his wife and him are thinking of the next phase of life. They also have a home in Sun Valley, Idaho.

30:11 >> S-tier. >> Second home in Sun Valley is S-tier, okay. >> S-tier. >> And now they're trying to emotionally let go and decide what to do next. Palo Alto is the center of venture capital and tech startups in Silicon Valley and home to some of the country's biggest tech titans. Sales volumes and prices are rising with a median sale price of $3.5 million for the 3 months ending in August, up 5.8% year over >> Yeah, it's tough to get excited about this home in LA. This is like a probably >> Mhm.

30:39 >> $12 million dollar depending on where it's located. >> But over there. >> It's about over there. But apparently it's S-tier. >> Yeah. >> Apparently it's S-tier. We'll see you Monday, folks. >> See you. Goodbye.