It's What Was That?! Time, and this time we went deeeeeeep into the AI industry's financial mess, and also the recent GST announcements in India. There's enshittification going on - there's a bubble - there's cash flow issues and crazy hiring - and just so much hype. Links:https://www.wheresyoured.at/ai-is-a-money-trap/https://techcrunch.com/2025/07/28/anthropic-unveils-new-rate-limits-to-curb-claude-code-power-users/www.cnbc.com/2025/08/01/openai-raise-chatgpt-users.htmlhttps://www.wsj.com/tech/ai/silicon-valley-ai-infrastructure-capex-cffe0431https://government.economictimes.indiatimes.com/news/governance/next-gen-gst-reform-india-set-for-tax-simplification-and-growth-boost-by-diwali-2025/123362905Chapters00:00 Intro, and some fun book reccos!08:54 GST 3.0 and Economic Implications21:23 AI Developments and GPT-5 Launch33:55 The Impact of AI Pricing Models on User Behavior36:44 Challenges in AI Model Selection and User Experience39:25 The Sustainability of Layer One AI Services42:17 The Role of Hardware in AI Development46:03 Financial Risks and Cash Flow Issues in the AI Industry48:47 Cultural Implications of AI Companionship01:04:37 Future of AI and Gaming Regulations
It's What Was That?! time, and our stories are getting longer and deeper, no jokes related to last week's topic, please. We discuss how Google Play Store has lost a key court case about the fees charged by its Play Store services. It's a big one, they're appealing for sure, but this is a key loss with ramifications for their global ops. Nitesh gets into some of Tata Sons' struggles as it tries to manage its vast portfolio across many, many different sectors. Links: https://www.theverge.com/news/716856/epic-v-google-win-in-appeals-courtAnd, more importantly, Kung Fu Hustle:https://m.youtube.com/watch?v=SN43SPZMNuohttps://m.youtube.com/watch?v=ixeHttmdsZY
It's What Was That?! Time again. We did deep dives into two stories this time - one, how rapidly solar power capacity is increasing, far beyond most people's expectations, and what it means from the lens of geopolitics, economics and the environment - all areas we have no expertise in. It's a fascinating story, based on this article: https://www.newyorker.com/news/annals-of-a-warming-planet/46-billion-years-on-the-sun-is-having-a-momentNitesh digs deep into the history and recent news about Cupid Ltd - a company that fits the one-man-against-the-odds archetype. Yup, really, it's a great story.
It's What Was That time again, in an episode where Nitesh and Vineet talk about betting markets in scandal over what defines a suit, and Tiffany the jewellery company collaborating with Patek Philippe and losing goodwill by irritating the folks who wanted to, y'know, give money and get a watch. By taking their money, giving them jewellery, promising them the option to buy a watch in the future, and then refusing to sell the watch. Both stories leading Vineet to conclude that maybe rich people have too much money. Oh, and we also go deep into Intel making a few really bad decisions, in hindsight, and how companies can grow to be giants and still try to innovate. Nitesh also compared Archies (y'know, the gift card guys) with Lockheed Martin (y'know, totally not the gift card guys). Fun times. Links:https://m.economictimes.com/news/international/us/intel-facing-a-blackberry-moment-as-thousands-laid-off-ceo-says-too-late-to-catch-up-with-ai-as-firm-falls-out-of-global-top-10/articleshow/122390727.cmshttps://www.bloomberg.com/news/features/2025-07-17/tiffany-s-blue-dial-nautilus-watch-release-frayed-its-patek-relationshiphttps://notpricedin.substack.com/p/archetypes-and-heartacheshttps://notpricedin.substack.com/p/2-heavy-lies-the-crownhttps://www.wired.com/story/volodymyr-zelensky-suit-polymarket-rebellion/
A lot of action, both on the business side and the tech side in the AI industry. Acquisition offers - both for townships, and for people. Fun fact: Meta offered *one guy* a signing bonus that's equal to what Welspun offered to pay for all of Lavasa. https://economictimes.indiatimes.com/industry/services/property-/-cstruction/welspun-bids-the-most-for-lavasa-corporation-lodha-developers-jindal-steel-and-power-group-in-fray-too/articleshow/122146710.cmsWelspun has put in a bid for Lavasa. Is this finally the start of the revival of the famed but ill-fated township? Let's hope.https://www.youtube.com/watch?v=mZUG0pr5hBoSam Altman's interviews are getting more and more vague, and the promises more befuddling. Are we at peak AI bubble? Also because Meta has been hiring people at, there is no better word for this, INSANE signing bonuses. https://www.bloomberg.com/news/articles/2025-06-27/roger-federer-s-long-term-deals-make-him-a-tennis-billionaireFederer is a billionaire now, thanks to his association with On Running.https://www.newindianexpress.com/business/2025/Jul/03/foxconn-recalls-chinese-staff-from-india-apples-local-expansion-faces-setbackFoxconn recalls top staff from India, on instructions from the Chinese Government. And more!
We recorded two weeks in a row! Vineet and Nitesh discuss a ton of ranging from Ferrari's first SUV-is-not-an-SUV, to the complexities of India's vehicle registration system. We look into the consolidation and evolution of India's paint industry, the impact of AI on financial certifications, and the ongoing struggles of OpenAI in securing funding, and the interesting dance going on between OpenAI, Softbank and Microsoft. We also talk about a fascinating new book - Apple in China by Patrick McGee. https://appleinchina.com/https://m.economictimes.com/industry/cons-products/paints/jsw-paints-to-buy-akzo-nobel-india-for-rs-9000-cr-announcement-today/articleshow/122098689.cms
It's What Was That?! time again. A lot has been happening, in both the business world and the tech world. People are making wills suddenly, after a few rather sad incidents. Greater Than has been acquired, and it seems like a big win for Diageo. People are dating ChatGPT. They're making it their therapist. They're feeding into conspiracy theories. And the world is...getting...weird. https://www.nytimes.com/2025/06/13/technology/chatgpt-ai-chatbots-conspiracies.htmlGoogle is about to change how the web works...yet again. https://www.bbc.com/future/article/20250611-ai-mode-is-google-about-to-change-the-internet-foreverThere's a LOT of family drama going over at Sun TV, and since there's a political family involved, the hosts would just like to say that we agree with everyone concerned, everyone is absolutely correct and perfect. https://economictimes.indiatimes.com/industry/media/entertainment/dayanidhi-maran-sends-legal-notice-to-sun-tv-cmd-kalanithi-maran-says-brother-seized-group-control-fraudulently/articleshow/121960814.cmsAnd much more! Do tune in, and share.
Welcome Back to What Was That?! from the start of June. We discuss a bunch of AI stuff as always, including the collapse of an AI startup, this being the second instance of AI in reality just meaning "Actually Indian":https://futurism.com/ai-startup-builderai-collapseBaby Shark creator Pink Fong applies for an IPO:https://www.bloomberg.com/news/articles/2025-05-30/-baby-shark-creator-pinkfong-applies-for-seoul-ipo-no-kiddingTinder tests letting users put up a height preference (and Nitesh and Vineet have very different views on this one)https://techcrunch.com/2025/05/29/tinder-tests-letting-users-set-a-height-preference/And our fun "This is very minor but belongs in Black Mirror" AI story of the day: AI gets people's names wrong at a convocation ceremony. Because AI was announcing the names at a convocation ceremony. Why? Just because, that's why. https://futurism.com/college-grads-furious-ai-butchers-names-commencementSee you next week!
Nitesh is in West Rajasthan in his infuencer Era - carrying podcasting equipment to remote parts of the country, finding hidden gems.
The FIIs are back. This is absolutely not investment advice - we don't know anything about anything, remember - but we do get into how sentiment is everything when it comes to the markets.
There's a new car in the US market - and this is interesting because it's completely unbundled! $20,000 after subsidies, but that includes no paint, no speakers, no entertainment. At least it has a steering wheel. Will it catch on?
https://www.wired.com/story/slate-auto-electric-pickup/
Also, a lot of antitrust action going on - against Meta and Google, both in the same building! In different rooms, thankfully. The US Department of Justice has proposed remedies to rid Google of its monopoly.
https://www.theverge.com/policy/652708/google-search-antitrust-remedies-trial-opening
And more! Other notes: Lessons from the Screenplay of The Social Network:
https://www.youtube.com/watch?v=8IAGH6k17nw
Nitesh's old post on the Insta/Facebook negotiations:
https://internetstuff.substack.com/p/splitting-the-difference
Welcome to the worst-shot episode of the podcast! Grainy footage, background noise, changing locations, changing podcast software, this was a fun week. But also, in less important news than a change in podcast software, bond prices went up and threw the financial world into a tizzy.
Tesla gamed odometers (allegedly) to get out of warranty repairs:
https://www.thestreet.com/automotive/tesla-accused-of-using-sneaky-tactic-to-dodge-car-repairs
BluSmart also had bond issues: https://m.economictimes.com/tech/startups/bond-blues-hnis-in-limbo-as-blusmart-runs-default-risk/articleshow/120414245.cms
OpenAI has financial trouble: https://www.wheresyoured.at/openai-is-a-systemic-risk-to-the-tech-industry-2/
And more rants as usual! Next week's episode will definitely look better, though we might not.
What Was That, 8 April - Edited just in time for the first story to be completely outdated, and then made completely redundant again literally while this edit was going on. Do tariffs exist? Do we? Ooooooom.
We discuss tariffs, yes. But also return-to-office becoming a huge mess for the US Government:
https://www.wired.com/story/federal-workers-rto-chaos/
More clarity (or was it?) <suspense-type sound effect> around Ola's sales numbers:
Facebook caught lying about AI benchmarks:
https://www.theverge.com/meta/645012/meta-llama-4-maverick-benchmarks-gaming
Winters are running out of snow:
ChatGPT as an astrologer:
https://www.team-bhp.com/forum/shifting-gears/292931-chatgpt-your-astrologer-anyone.html
And many, many mini-rants. See you next week!
What Was That financial-year-ending episode, but no, there are no tax implications of listening to this podcast. Nitesh and Vineet discuss ChatGPT's viral Studio Ghibli filter; billionaires like Li Ka-shing and Warren Buffett are hoarding cash, Google loses an appeal and has to open up its Play Store in India, and more.
Links:
https://www.bloomberg.com/opinion/articles/2025-03-27/when-warren-buffett-and-li-ka-shing-hoard-cash
And one Bengali song: https://m.youtube.com/watch?v=LQ3677p5NWg
It's What Was That?! Time again. This week Nitesh and Vineet discuss IT raids on Ola showrooms, and a huge mismatch between their sales figures and RTO registrations - https://www.bloomberg.com/news/articles/2025-03-07/ola-electric-stores-see-raids-seizures-on-flouting-india-rules
Chinese find managers now have string perform-or-get-docked norms.
Apple's very, very late on delivering "AI Siri", and internal teams are fighting about it - https://www.bloomberg.com/news/articles/2025-03-14/apple-s-siri-chief-calls-ai-delays-ugly-and-embarrassing-promises-fixes
Physical buttons are coming back to cars!
https://www.theverge.com/news/626311/vw-physical-controls-buttons-coming-id-2-all
Other links -
Trump is selling Teslas at the White House:
https://www.youtube.com/watch?v=RQEebJSCYRE
And The Daily Show's edit:
https://www.youtube.com/watch?v=uUntzU4Toy4
See y'all next week!
Welcome Back to What Was That?! where Nitesh and Vineet discuss the tech and business news of the week gone by.
This week we discuss Ozempic coming to India;
a pushback in a small town in the US against drone deliveries (https://www.wired.com/story/texas-amazon-drones-stop-flying/ );
Reliance Retail announcing a pullback and an overhaul (https://www.bloomberg.com/news/articles/2025-03-04/ambanis-overhaul-retail-unit-in-quest-of-125-billion-valuation);
AI summaries in the LA Times going very wrong;
and more. We even discuss Nitesh's favourite new biscuit.
Listen in, subscribe, and stay tuned!
It's What Was That?! time again, and Nitesh and Vineet cover a lot of ground talking about rich people owning things, and rich people investing, and rich people raising money for Youtube stuff.
Links:
https://www.berkshirehathaway.com/letters/letters.html
https://m.youtube.com/watch?v=whwQqMMyRPU
https://notpricedin.substack.com/p/driving-under-the-influence
This was fun, see you next week!
What Was That?! Feb 22nd - where Nitesh and Vineet discuss Lenskart's upcoming IPO, the Humane AI pin is humanely killed off, James Bond goes to MGM and ChatGPT goes to mental health columns, and more.
Some relevant links from the show:
Nitesh writes about the shades market: https://notpricedin.substack.com/p/optical-illusions
This is the Humane AI Pin: https://www.youtube.com/watch?v=9lNIwOOMVHk
The Humane AI Pin is the worst product MKBHD has ever reviewed: https://www.youtube.com/watch?v=TitZV6k8zfA&t=1247s
Adam Neumann tries to buy back WeWork: https://www.bloomberg.com/opinion/articles/2024-02-06/adam-neumann-wants-we-back
A fantastic WSJ writeup on the James Bond affair: https://www.wsj.com/business/media/james-bond-movies-amazon-barbara-broccoli-0b04f0db
It's What Was That?! time again! We discuss ITC, MTR, OpenAI, Tesla, and where healthcare is headed.
Also, a serious error in this episode that we apologize for - we stated that there were, at the time of recording, 17 subscribers to the YouTube channel. Vineet had extrapolated from 15 the previous day using some very calculated forecasting mechanisms. It turns out that there were actually just 16.
Vineet apologizes for this gross oversight.
