Down Round

A deep dive into a fast-growing payments firm, its origin story, global products and how it simplified cross-border FX. They unpack the land grab from banks, the tension between low-friction onboarding and anti-money-laundering controls. The conversation covers regulatory probes, frozen accounts, data residency claims and why payments infrastructure is uniquely hard.

The hosts explore the looming question of AI's impact on B2B SaaS products. They discuss recent declines in SaaS stock versus soaring AI winners like Nvidia. There's a deep dive into how AI could disrupt existing software by eliminating user interface layers. The duo critiques half-baked AI features in popular tools and examines new disruptive business models driven by AI. They conclude that while SaaS isn’t dead, it faces significant evolution and uncertainty ahead.

A fiery discussion unfolds around Grok, Elon Musk's AI venture, and its surge of provocative outputs on X. The hosts dissect Grok's eye-catching personality and its controversial stance on free speech, as well as the potential harms of its uncensored generation capabilities. They debate the responsibilities of platforms amid growing concerns over non-consensual imagery and the implications for user privacy. With governments eyeing potential bans on X, they ponder whether the chaotic landscape of AI and social media is truly what society wants.

Mark Di Stefano, a Rear Window columnist at the Australian Financial Review, joins for a lively discussion on journalism and the tech oligopoly. They tackle the rivalry between media outlets and tech billionaires' impact on legacy publications. Mark introduces the concept of Comparative Generational Equivalents, while the group debates the political shifts of tech elites and the potential repercussions of AI advancements. They speculate on whether modern tech figures can wield power like historical elites and discuss the looming effects of AI on jobs and politics.

We're joined by Rowan "Joyride" Dix and Becky "Becky Lucas" Lucas for another round of our annual community shark tank, where we listen to our listeners pitch their startup ideas and decide whether we're going to invest.Go to https://www.downround.net/ to sign up for PREMIUM to hear the other 45 minutes of Shark Tank, get ad-free listening PLUS an extra episode every week.See omnystudio.com/listener for privacy information.

The holiday special kicks off with a recap of 2025's AI-driven progress. NVIDIA's market surge and Blackwell chip developments steal the spotlight. The arrival of GPT-5 sparks discussions on agentic AI and its mainstream adoption hurdles. They delve into social media dynamics, contrasting Threads with X for news relevance. Streaming landscapes shift as Netflix eyes a major consolidation, while gaming strategies face a cloud-centric future. Overall, 2025 is framed as a year heavy on infrastructure and compute demands.

Mental health and mindfulness apps take center stage as the hosts explore their dramatic rise during ultra-low interest rates and the COVID pandemic. They dissect the business model of popular platforms like Calm and how gamification strategies borrow from language apps like Duolingo. The conversation also delves into the intersection of AI and therapy, examining how automated tools might reshape these industries. Finally, they discuss the future of therapist marketplaces and the evolving challenges posed by AI technology.

Netflix and Paramount are battling for Warner Bros. Discovery with bids reaching up to $108 billion. The implications of this potential buyout signal a major tech encroachment into the film industry. Historical shifts in the film landscape are explored, alongside Netflix's need for Warner's rich IP. The hosts also discuss rising production costs, the impact of YouTube on viewer attention, and the complexities of subscription models. Political factors, including lobbying and antitrust issues, shape this high-stakes media landscape.

Delve into the fascinating world of prediction markets that blend gambling with economic theories. Discover how platforms like Polymarket and Kalshi are reshaping tech and betting culture. Explore the allure of betting and its psychological grip on users, from insiders to casual gamblers. The hosts discuss ethical concerns around harmful markets and the influence of sports-betting culture. They highlight market anomalies and how significant bets can manipulate narratives. Tune in for insights into the future of this rapidly evolving landscape.

This week, the discussion kicks off with the shocking downfall of a student finance startup and its founder's prison sentence for fraud. JP Morgan is left with a staggering legal bill. In tech news, Nvidia’s explosive 60% revenue growth raises eyebrows alongside market reactions. The conversation shifts to X's new feature exposing the global trend of low-effort rage-bait content. The hosts explore how ad-sharing incentives have shaped online posting habits, contrasting it with the more demanding environment of platforms like YouTube.