Was affordability, not ideology, behind the midterm backlash? Chamath argues, “The economic reality in America is broken,” as the besties debate war-related inflation, cost-of living, and Trump’s path back through populist priorities and tangible relief. Plus, data center backlash, compute scarcity, AI regulation, the $4T market cap selloff, and OpenAI’s reported solution to the Exponential Time Hypothesis.

Anthropic’s S-1 makes the case that AI demand is still early, highly profitable and capable of creating enormous value across the compute stack. But can power, data centers and capital keep pace? The besties break down Anthropic’s economics, AI’s competition with government borrowing for liquidity, and Google’s $500 billion market-cap drop as investors question search advertising. Plus, the risks of an AI-driven economy and final midterm predictions.

Can just over 50 billion hours of continuous physiological data predict health problems before traditional testing? WHOOP CEO Will Ahmed joins Jason to unpack the subscription pivot that made retention and long-term member outcomes the priority. They discuss AI coaching, journaling and early illness detection, plus WHOOP’s push into the gray zone between wellness and medical care through blood pressure insights, ECG, lab integrations and its battles with the FDA.