The CEO Retort with Tim El-Sheikh

Dr Jeffrey Funk is a technology economist, retired professor, and author of Unicorns, Hype, and Bubbles. He examines whether AI revenues can justify colossal infrastructure spending, how soaring debt costs threaten the sector, and why adoption delivers so little output. They also explore forced AI products, misleading breakthrough claims, the Binance hack, delayed IPOs, market volatility, and the political fallout of a possible crash.

The AI bubble is crashing, and it is time to look at the financial reality behind the hype with one of the world's leading experts on tech bubbles, Dr Jeffrey Funk.We discuss how financial professionals are finally speaking up about the lack of real returns in the artificial intelligence sector. Jeff reminds us why businesses need actual revenue generation, not just high margins, which many of these companies currently lack.We examine how the market focus has shifted away from the fundamental need to make money over the past two years. We break down why the lack of significant profits remains a major red flag for the entire industry.Looking past the marketing, we assess whether these models can ever generate sustainable long-term revenue.We also discuss whether business schools and VCs will finally change their theories post the AI bubble crash. Above all, what will the future of entrepreneurship be?Join the conversation and tell us whether you think the AI bubble will finally burst this year, and what consequences we will all face.Support our independence and help us keep our content free for all to access by becoming a member: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://RetortMedia.com/Support⁠⁠⁠⁠⁠Episode Notes & Citations:⁠⁠https://theretort.com/podcasts/ceoretort/2026/10/26/jeffrey-funk-the-ai-bubble-is-crashing-and-you-are-not-ready/CEOR Voices Featuring:ClubLe.app – Get Three Months free when you use "CEOR" at checkout. A new lifestyle app that helps you meet and connect with new people, and helps you use less AI!Sponsors & Offers:Proton Mail – Secure email that protects your privacy, with a 30-day money-back guarantee. Start with as little as $1: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.proton.me/retort⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Brain-FM – Peak your productivity on demand with Neuromusic. Get an extended 30-day free trial without limits: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.brain.fm/ceor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to The CEO Retort:YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@CEORetort⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple Podcasts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/the-ceo-retort/id1767132889⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with Tim El-Sheikh:LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/timelsheikh⁠⁠⁠⁠⁠⁠⁠

Carl Brown of Internet of Bugs returns to discuss the oversold hype around AI vibe coding versus reality, and what the recent Adobe story really shows us.The media's narrative around AI vibe coding is fundamentally misleading. We break down the reality of software development and how tools actually work.You may have seen the recent headlines about the developer Brandon Thomas and co-founder Michael Caffrey using Anthropic's Claude Opus 5.5 to build clean-room, open-source clones of seven major Adobe programs written in Rust.As we have been calling out on this podcast, the media and certain podcasters and influencers suggested that, thanks to AI vibe coding, this small team could "decompile" and recreate Adobe’s major software products and threaten Adobe's future forever. Obviously, this is not true!Join the conversation and tell us whether you think vibe coding creates more problems than solutions, especially when used by individuals who have never coded or built software and technology businesses.Support our independence and help us keep our content free for all to access by becoming a member: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://RetortMedia.com/Support⁠⁠⁠⁠Episode Notes & Citations:⁠https://theretort.com/podcasts/ceoretort/2026/10/19/carl-brown-internet-of-bugs-the-medias-and-influencers-narrative-about-ai-vibe-coding-is-nonsense-dangerous-and-misleading/Sponsors & Offers:Proton Mail – Secure email that protects your privacy, with a 30-day money-back guarantee. Start with as little as $1: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.proton.me/retort⁠⁠⁠⁠⁠⁠⁠⁠⁠ Brain-FM – Peak your productivity on demand with Neuromusic. Get an extended 30-day free trial without limits: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.brain.fm/ceor⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to The CEO Retort:YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@CEORetort⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple Podcasts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/the-ceo-retort/id1767132889⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with Tim El-Sheikh:LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/timelsheikh⁠⁠⁠⁠⁠⁠⁠

Professor Scott Lucas examines what Xi Jinping’s visit to the U.S. suggests about the shifting balance of power and Trump's conflicting, multifaceted presidency.Scott sees China as pursuing long-term economic influence while signalling that rivalry need not lead to conflict, despite President Xi Jinping's repeated references to the "Thucydides Trap" in his speeches directed at Trump. That contrasted with Trump's focus on strongman appearances and political spectacles.We also discussed Trump's rhetoric about inviting Iran to bomb Los Angeles and San Diego, killing millions of fellow Americans, and the crowd's shocking celebratory reaction. What unsettled me was how easily talk of violence against Americans could become rally entertainment.We also considered how Brexit weakened cooperation between the UK and Europe, and how difficult rebuilding those ties can be, even though they are critical for the future of both the UK and the EU.Join the conversation and tell us whether democratic systems can withstand this damage and whether competence and resilience can matter more than slogans in the post-MAGA world.Support our independence and help us keep our content free for all to access by becoming a member: https://theretort.com/joinEpisode Notes & Citations:⁠https://theretort.com/podcasts/ceoretort/2026/10/12/scott-lucas-trumps-incompetence-is-bad-for-america-but-great-for-china-the-eu-and-the-rest-of-the-world/Sponsors & Offers:Proton Mail – Secure email that protects your privacy, with a 30-day money-back guarantee. Start with as little as $1: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.proton.me/retort⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Brain-FM – Peak your productivity on demand with Neuromusic. Get an extended 30-day free trial without limits: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.brain.fm/ceor⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to The CEO Retort:YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@CEORetort⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple Podcasts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/the-ceo-retort/id1767132889⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with Tim El-Sheikh:LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/timelsheikh⁠⁠⁠⁠⁠⁠⁠

Dr Jeffrey Funk, the world-leading expert on tech bubbles, returns to analyse the financial reality behind Anthropic's latest leaked financials and the potential IPO disaster.We also examine how the tech sector uses the concept of Total Addressable Market (TAM) to justify massive capital injections into companies like Anthropic and OpenAI, despite a lack of significant ROI.Investors are being pushed to bet heavily on an out-of-this-world, lucrative AI future. Still, we need to look past the marketing to assess whether these models can generate sustainable revenue.The current AI investment landscape is fraught with risks, particularly for pension funds and university endowments now being asked to back these firms. Not to mention Trump's latest antics, including renaming AI as "Super Intelligence" and floating the idea of public ownership of OpenAI and Anthropic.Join the conversation and tell us whether you think the AI bubble has now entered the Ponzi scheme territory and whether it should be seen as a scam.Support our independence and help us keep our content free for all to access by becoming a member: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://RetortMedia.com/Support⁠⁠⁠⁠Episode Notes & Citations:https://theretort.com/podcasts/ceoretort/2026/10/05/jeffrey-funk-reveals-whether-the-ai-bubble-turned-into-a-huge-scam-with-anthropics-leaked-financials/Sponsors & Offers:Proton Mail – Secure email that protects your privacy, with a 30-day money-back guarantee. Start with as little as $1: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.proton.me/retort⁠⁠⁠⁠⁠⁠⁠⁠⁠ Brain-FM – Peak your productivity on demand with Neuromusic. Get an extended 30-day free trial without limits: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.brain.fm/ceor⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe to The CEO Retort:YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@CEORetort⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Apple Podcasts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://podcasts.apple.com/us/podcast/the-ceo-retort/id1767132889⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with Tim El-Sheikh:LinkedIn: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.linkedin.com/in/timelsheikh⁠⁠⁠⁠⁠⁠⁠

Carl Brown, a veteran software engineer, author, podcaster, and creator of Internet of Bugs, brings three decades of tech experience to a sharp critique of Silicon Valley. They explore how engagement algorithms fueled outrage, how data enables individualized manipulation, and why AI doom narratives distract from real harms. The conversation also tackles tech oligarchy, regulatory capture, labor-replacement hype, bubbling valuations, and the shaky claims behind AI autonomy.

Scott Lucas, a professor, journalist, and founder of EA WorldView, examines Europe’s political crossroads. They discuss Trump 2.0’s impact on the far right, Germany’s AfD, voter frustration, Brexit, tech elites, and Russia’s advantage. The conversation explores how populists repackage extremism, why mainstream leaders are losing trust, and whether competent government and cross-border collaboration can counter nationalist isolation.

Dr. Jeffrey Funk, technology economist and author of *Unicorns, Hype, and Bubbles*, challenges the loudest AI extinction claims. They explore weak industry economics, inflated AGI narratives, media incentives, deepfakes, AI psychosis, warfare, and the risks of poor oversight. The conversation turns to practical AI, accountability, infrastructure costs, and why evidence should matter more than hype.

Scott Lucas, a professor, journalist, and founder of EA WorldView, examines the Houthis’ rise along Yemen’s Red Sea coast and their leverage over global shipping. He explores Saudi Arabia’s fractured coalition, Trump’s quiet negotiations with the Houthis, Iran’s influence, and the risks to Bab el-Mandeb, Hormuz, oil markets, and regional stability. The discussion also covers failed military strategies, Trump’s Iran war, and China and India’s search for an exit.

Ann Pettifor, the economist who foresaw the 2008 crisis and helped cancel $100 billion in poor-country debt, examines the AI bubble’s dangerous parallels with past financial disasters. They explore deregulation, rising rates, concentrated tech power, political manipulation, and why ordinary people may bear the fallout. Pettifor also considers democratic alternatives and whether crisis could open the door to a fairer economy.