Transcript
0:00 reinstatement of Jensen Huang. Is it possible that the former CEO and the founder of Nvidia, the second most valuable company in the world, could come back? There is a petition now circulating and Elon Musk has said he is signing it to make it so. The Nvidia board gets pressured to bring Jensen back. Elon himself is now arguing that Jensen is the reason Nvidia gets some of the deals that they do and that is why he is joining the petition as he tweeted here. A petition is underway to reinstate Jensen and I am signing it too. This is what it looks like. It's standwithjensen.com and you could sign the letter, you could read the list, you could see the people who have supported it. Although we have to be careful unless these people have publicly said that they've signed it.
0:53 Technically, anybody can put their name in here, right? But but I believe it because we've already seen a lot of these people come out with very clear support for Jensen coming back. But Elon makes this argument that hold on a second, without Jensen, you could be losing a lot of the handshake deals that Jensen was known for doing, the deals that actually got Nvidia to the frontier. the very deals that made Nvidia the second most valuable company in the world. And maybe without Jensen, valuations are going to go down. I mean, that's what Morgan Stanley is doing.
1:29 Morgan Stanley is literally reporting that the resignation of a CEO, especially Jensen, is a major setback. And the lack of an immediate successor and regulatory risk now with China are problems for the stock. They are now downgrading the stock from $300 to $267. That is a downgrade of 11% in part because of Jensen's unique capabilities of getting things done at Nvidia. And that's exactly what Elon Musk is referring to when he says, "Hey, Jensen's known for making deals. We got to get this guy back." And so that's why not only are employees at Nvidia like we need this guy back. It affects their stock obviously, but people who have exposure to the entire AI sector, the frontier, people who want the best AI and the best research, they're all affected by this. Jensen is as well. He wants to put Nvidia chips exclusively into space. And take a look at this.
2:34 Jensen drove supply chain brilliantly at Nvidia. But many of those deals were a handshake with Jensen, not a written contract. Without Jensen, at least some of those critical deals will be lost. So, can Jensen get reinstated? That's what we're going to talk about here. Know that right now, this is where the letter stands. You've got 50,794 shareholders that have signed the Stand with Jensen letter. 38,822 supporters, 5,000 current Nvidians out of about 42,000 people who work at Nvidia, plus another 880 former Nvidians. Again, you know, a lot of these names we I haven't gone through and verified every single one of them, but again, people like Elon Musk have publicly come out and said, "Yeah, like this is what we stand for." And there are a few demands that go along with this letter. It's more than just signing. It's what it is is it's demanding a reinstate Jensen while an independent investigation goes on.
3:36 Number two, that independent investigation deserves a fair hearing. And three, there should be a timely and fair explanation from the board about what's going on. Part of this is all happening because the current interim CEO, people kind of think that she's just a bureaucrat who's going to push paper and Nvidia is going to get stuck in the doom loop of committees and meetings rather than execution. And it doesn't help that in this Robbie Wayland Wall Street Journal article and Ana article that Jensen apparently argued that Colette was a quote deer in the headlights when she was giving presentations and talking about the essentially circular financing that goes on with Nvidia that yes, Nvidia was in talks and still is to provide billions of dollars in vendor under financing to companies that can't afford its chips. That could be just for an example a company like Coreweave. Company like Cororeweave could say, "Look, we we'll take the risk. We want to take the long-term risk. We want to put these chips out into the world, but we don't have the five bill to buy the chips." So, what do they do? They go to a company like Nvidia. Nvidia says, "No problem. We'll get you the chips. Just pay us back over time." And then a company like Microsoft comes in and gives a big upfront payment to a company like Coreweave to go build out the infrastructure. Now they have an upfront payment that they can slowly start using to pay Nvidia back with, right? Then of course Nvidia also takes an investment in in a company like Coree. And then this is where that whole circle sort of completes itself. But the idea is that Colette is potentially seen as a finance person, as a quote unquote reporting CFO. SEC obligations, correctness, board perfections, meetings, documentation, high compliance. This is great for a CFO, but people argue she is a mistake for the CEO. Now, of course, she's just an interim CEO right now. they are searching for a new CEO and that's why this letter comes in and goes just you don't need a new one just bring Jensen back and so this is where we have to talk about can Jensen come back so first things first and practically Jensen does not have the votes to bring himself back this is not like a situation where he's like a Mark Zuckerberg where he's got you know so much exposure to his own shares or has so many super voting shares that he can just vote himself back in. In fact, Nvidia doesn't have a super voting class of shares. So, Jensen sits with his wife, mind you. So, without his wife, it might be half.
6:26 Jensen sits as an equal voting shareholder as you or I. I've got exposure to Nvidia, too. He's got a 3.58% ch you know, vote basically or that's how many shares he controls. Black Rockck which you know cast votes for Nvidia they sit at about 7.43%. Vanguard sits at about 731. So you could see like even with these there's a lot of work to do. And so how are you going to get a lot of shareholders to vote him back? It's going to be tough because then all of these companies are going to pick up liability unless there was a reason the board could bring him back and that's where we're going to dive into how Jensen could actually come back. Now, this gets really interesting. I'm really excited about this. I'm also really excited about our reinvest terminal, which you already know about that. We just had a coupon expire, but we are making so much freaking progress with our company. We are so excited about this. It is going to be a fantastic product. But let's focus on what's actually happening with Nvidia, and that is the WatchtTell Liptin investigation. The WatchtTell Liptin investigation could literally be the very deal that ends or investigation that ends up clearing Jensen. Now, no guarantees of this, but you got to know who's running the show with this investigation. And so, I put some notes together on this guy because it's critical. It's this guy known as June Kim. J O N Kim. He's a former federal prosecutor. He clerked for a judge in Manhattan. And what's really interesting about him is he actually is a mob boss prosecutor or was in his career. He ended up convicting Peter Gotti, the boss of the Gambinos. He then went on to private practice after working in Manhattan. And he cond and this is all going to be relevant to Jensen. I promise this is important. He then went on to private practice and one of his first cases there was Nissan and an internal investigation on misconduct allegations. The problem with that Nissan investigation, and this is going to be a problem for Jensen, is that this third-party hired attorney, Watchtell Lipton, who could try to make the argument that Jensen's cleared of providing any kind of intel to Chinese spies or somehow, you know, disregarding the rights of shareholders or whatever.
9:06 The last time this guy did this in private practice on behalf of Nissan, he ended up not finding fewer issues, but ended up finding more issues. So at Nissan, he went on to in conduct this internal investigation on, you know, one of these executives and then he ended up finding hidden pay. The guy was paying himself millions of dollars in corporate money and providing stuff for himself without board approval or authorization or conflict of interest disclosures.
9:37 That's not good. So, the point is this Watchtell investigation, this is critical. I'm going to go through a little bit more of this guy's background, but I can't understate if you want to see Jensen come back, how important it is that this Watchtell investigation goes well. So, think about it like this. When you have a third party investigation, everybody's worried about liability. When you have a third party come in, you could use that third party's opinion for the basis of why you're potentially bringing Jensen back.
10:11 So if somebody like Watchtell who has a reputation for finding more issues, not fewer issues and convicting god, you know, Gambino bosses. Now you have somebody who's got credibility, right? It's like the Federal Reserve. They got to put the pants on. So they bring somebody in that's a third party. It can't be internal. It's got to be a third party so that way they don't have a bias, right? They got to come in and then they can clear Jensen hopefully of number one they need to clear him of the spy issue and number two they need to clear this as somehow not being an ethical issue.
10:50 It's not a Jensen trust issue. Who knows? Maybe the wife was on board with it. It was all consensual and she wasn't a spy. Who knows, right? this this is a big lift here, okay, that we're not going to find more. But when you have internal investigations like this, it all generally comes down to trust. You know, it's not that like and I see people leave these comments. They're like, "Oh, well, what is what is cheating on your wife have to do with my share price? Like, just run the business. I don't care if you're banging women. Just make the share price go up."
11:25 That's a common belief, especially amongst men, okay? that oh well you know achieving it doesn't matter just go make money. That's the problem though because most people look at that and go but that's a trust problem. The person you committed to for 40 years that the person that you've been together longer than you've been working at Nvidia. You just violated all of their trust. The trust banks went to zero. How can we trust you at Nvidia? That's why you got to get an outside investigation to prove, oh well, no, it's actually not what it appears. It's going to take more, and this is why this attorney is so important, like more people should be talking about the WatchtTell investigation rather than the open letter or like posts by David Saxs. I'm not saying the open letter is bad. I'm a fan of it. You know, I I think it's a great idea. It it shows that the public is for this.
12:20 But you need that liability shield and you can only get that through an independent investigation. That's what's starting here and that's why more people should talk about that and fewer people should listen to in my opinion nonsense like this where you get David Saxs that you know does his usual oh well what do you know the spy narrative is collapsing already. We don't know that David Saxs strings together this well, we haven't concluded yet she was a spy and we're not convinced yet she was a spy. But remember the the Directorate of National Intelligence, the CIA, the Attorney General, these are all people appointed by Trump. And so you have to remember that if Trump ended up sandbagging chip exports and then Jensen gave intelligence to a spy, then that makes Donald Trump look like an idiot. David Sachs works for Donald Trump or at least did as his cryptos are. David Saxs is going to be a shill for Donald Trump.
13:19 Donald Trump does not want it to be true that Jensen is a spy. But taking somebody who's politically entirely aligned, hook, line, and sinker politically aligned. You cannot take David Sax's word for any value here. Neither can you, frankly, Donald Trump that this person isn't a spy. The only person that could actually help Jensen in this case is literally this guy, 55year-old Jun Kim, Korean-American, again, clerked for a mana for a Manhattan judge, convicted a mob boss himself, then went on to private practice, did the Nvidia investigate or the Nissan investigation. Remember how important that is because that Nissan investigation uncovered more problems, not fewer problems. Then he went on to acting US attorney overseeing guess what? Theft of trade secrets and espionage cases including getting Anthony Weiner a 21month sentence.
14:22 This guy goes after people and this guy gets convictions. He even got Andrew Cuomo. Andrew Cuomo. He wrote a report on the sexual harassment investigation with Andrew Cuomo. And this guy right here substantiated the reports for Cuomo's resignation that led to his resignation. This guy just joined Watchtell, the law firm that Nvidia hired to investigate Jensen. If this guy can come back and tell you, and look, I didn't find more problems like I did at Nissan. I actually found fewer problems. In fact, guess what? The Chinese lady's not a spy and Jensen wasn't unfaithful or this is all a big misunderstanding.
15:10 This guy would be putting massive credibility onto the opportunity for Nvidia to bring Jensen back. Now, having people like Brad or Gavin demand an investigation and bring Jensen back, remember, these are people who hold like billions of dollars in Nvidia. There's a little bit of a bias there. Okay, that's why you need this because that way in the future when Nvidia deals with the class action shareholder lawsuits, which as we've already covered have already been filed, then you could actually say, "Look, we went through it all. Here are the facts put together by a badass attorney. This is impressive." Now, comebacks can happen. So, there is a precedent for comebacks. Steve Jobs at Apple, 1997. Sam Alman 2023.
16:00 But both of these were when there were board fights. Sam Alman got pushed out by the board. Steve Jobs got pushed out by the company. Both of them came back. But those the reasons they came back wasn't because their personal conduct was in question or their integrity was in question. They came back because the disagreements resolved. any kind of relationship exits. M not good odds for actually coming back. Intel relationship exit dead final. HP in 2010 dead final when it went on to work for Oracle. I think that's why Elon's offering Jensen a job. BP in 2023 got his pay claw back done. Steve Easterbrook 2019 guy had to pay back $105 million after, you know, settling a lawsuit with McDonald's. Gone. Boeing 2005, Nestle 2025, NBC Universal 2023, Kohl's Ashley Buchanan 2025. The lie kills their job. It's it's like it's not the fact that you cheated. It's often it's the lie that oh nothing unusual was going on here. In fact, it was so common. Look at all the other women I'm banging.
17:15 Oh, man. So, rehiring a CEO here, ridiculously rare. Now, in fairness, a lot of these people were not the founders. That's the unique thing that Jensen has going for him. Okay, Jensen was a founder. And what you need is an investigation to clear him. This happened at Best Buy, by the way, during 2020. The board did a big investigation and a review, and they actually cleared the CEO and brought that CEO back. So, it can happen, but you have to clear the trust issues. Now, in fairness, the market doesn't think that, you know, Colette's any better because, you know, not that she's a cheater, as far as we can tell, but that, you know, she might be the person that's a numbers person who doesn't have a strategy. And that leads the businesses like Morgan Stanley to say, "That's it. Sell off Nvidia until they figure it out. Sell it off."
18:07 Now, what do I think? Well, I actually do think there is a chance you could potentially get Jensen back, but there's only one narrow needle way to get this guy back. And it is quite literally this guy right here coming out and saying, you know what, we have completed a very thorough independent investigation. And it took us months to do. You know, this isn't going to be over until January, February, or whatever. So, if you have faith Jensen's coming back, you're going to have some time to buy the dip. Okay.
18:38 This guy's gonna have to take his months, not his David Sachs said it's not a spy bull crap. Okay, we can't trust that as far as we can throw the guy, which isn't far. And you know, I'm not saying David Sax is a liar. I'm just saying you can't trust him going, "Well, she must not be a spy." You know, the CIA said, "Well, we're not certain she's a spy yet." Right. Right. Ignore that. You need this guy to come back and say this guy Jensen is an integrable man.
19:09 This is all a big misunderstanding. There are no facts to substantiate Jensen being gone. And then guess what? Jensen will come back. That is the only way this is going to happen. And then together they can fight to deal with the shareholder lawsuits and all that kind of nonsense. That's okay because by then honestly and presumably the stock will recover. Not that that will minimize any kind of damages alleged by these class action attorneys, but this gives you a little bit of a breakdown.
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20:16 Anyway, thanks so much