OpenAI's $21B Loss, the Anthropic Crackdown, and a Live AI Startup Teardown | Ep.16 Show Your Priors

Pre-order Mike's Book, Fatal Abstractionhttps://a.co/d/045OQdAaHave a strategy, product, sales, or procurement team you need to make more productive? Schedule a Phaneros demo!beta.phaneros.aiConnect with Seunhttps://x.com/seun_the_great/https://www.linkedin.com/in/seunthegreat/Music by ThunderWof.https://www.instagram.com/apache_thunderwof_18/https://open.spotify.com/artist/4092jgp59goD4nZIL2mQw5This week on Show Your Priors, the business strategy podcast where co-hosts Michael Nichols and Jason Thompson take the week's biggest business and AI news and rip it apart to see what lies underneath. We break down OpenAI's reported $21 billion loss and 42-state probe, the government crackdown on Anthropic, SpaceX buying Cursor for $60 billion, and the messy ethics of prediction markets like Polymarket, before sitting down for a live startup teardown with Nigerian entrepreneur Seun Abilawon and his AI powered forex trading platform.From AI layoffs and AI washing in corporate America, to Huawei chip stacking versus US semiconductor sanctions, the Great American AI Act, AI hallucinations, Snap AR glasses, and the FERC fight over AI data centers and moral hazard, this episode is built for anyone who cares about business strategy, finance, marketing, corporate management, venture capital, and entrepreneurship. Michael also previews his new book, Fatal Abstraction, and we apply that framework to a real business model live on the show.Chapters00:00 Intro00:36 Fatal Abstraction: Mike's New Book07:44 Headlines: Anthropic vs. the US Government13:59 OpenAI's $21B Loss and 42-State Probe20:34 SpaceX Buys Cursor for $60B24:44 Polymarket and the Ethics of Prediction Markets33:11 The Firehose (powered by Phaneros)34:03 Lineage Cold Storage Fire and Supply Chain Risk40:26 Snap AR Glasses44:19 AI Layoffs Hit 40,00049:00 Huawei Chip Stacking vs. US Sanctions51:34 The Great American AI Act56:43 Who Does AI Remember Best?59:12 FERC, Data Centers, and Moral Hazard1:03:04 Chasing Zero AI Hallucinations1:07:02 Allbirds, Smart Bird, and the AI Backlash1:12:18 Digital ID and the UK Social Media Ban1:18:10 Interview: Seun Abilawon's AI Forex Startup2:06:01 Wrap UpConnect with us:Subscribe to Show Your Priors for weekly conversations on business, strategy, and the ideas shaping the world.Clips Channel | https://youtube.com/@sypclipsSpotify | https://open.spotify.com/show/7qz3G3XoOaSPpg2elfKmH3Instagram | https://www.instagram.com/showyourpriors/Threads | https://www.threads.com/@showyourpriorsTikTok | https://www.tiktok.com/@showyourpriorsX - Michael Nichols | https://x.com/m_g_nicholsX | https://x.com/showyourpriorsSubstack | https://showyourpriors.substack.com/Reddit | https://www.reddit.com/r/ShowYourPriorsPodcastLinkedIn - Michael Nichols | https://www.linkedin.com/in/michael-guy-nicholsLinkedIn - Jason Thompson | https://www.linkedin.com/in/jason-thompson-607b0b54Keywords:business strategy podcast, artificial intelligence, AI news, business news, entrepreneurship, startup pitch, OpenAI, Anthropic, venture capital, forex trading, AI layoffs, business strategy, prediction markets, corporate strategy, business model, fintech, SpaceX, Polymarket, tech news, AI regulation, AI hallucinations, semiconductor sanctions, Huawei, financial markets, stock market, management, AI in business, trading strategy, moral hazard, AR glasses, Snap, AI safety, Nigeria startup, Africa entrepreneurship, Fatal Abstraction, Michael Nichols, Show Your Priors