Today on Moment of Zen, we're bringing you the second episode of "This Won't Last", the newest show from Turpentine.

Keith Rabois, Logan Bartlett, Kevin Ryan, and Zach Weinberg share a rare anecdote about the first venture investment into OpenAI, lay out the bull and bear case for the leading AI companies and discuss regulatory chess games at play in American politics.

🔥 Apply to join over 400 Founders and Execs in the Turpentine Network: https://hmplogxqz0y.typeform.com/to/JCkphVqj

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SPONSORS: GiveWell spends 50,000 hours every year doing deep-dives into different charitable programs to try to find the ways to do the most good for your dollar. GiveWell has now spent over 17 years researching charitable organizations and only directs funding to a few of the HIGHEST-IMPACT opportunities they’ve found. Visit https://www.givewell.org to find out more or make a donation. Select PODCAST and enter Econ 102 at checkout to make sure they know you heard about them from us.

💥 Head to Squad to access global engineering without the headache and at a fraction of the cost: head to https://choosesquad.com/ and mention “Turpentine” to skip the waitlist.

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RECOMMENDED PODCAST: 🎙️ This Won't Last - Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics. Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937 Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz YouTube: https://www.youtube.com/@ThisWontLastpodcast

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Follow on X: @eriktorenberg @rabois @kevinryan @loganbartlett @zachweinberg @turpentinemedia

TIMESTAMPS: (00:00) Intro (01:25) OpenAI's First Venture Investment (07:40) Foundational AI Talent and OpenAI's Growth (15:59) Sponsors: Squad | Givewell (16:27) OpenAI's Staggering Revenue Projections and Valuation (20:39) AI Model Development and Competition (25:28) Consumer Distribution and OpenAI's Competitive Landscape (29:40) Google's Response and OpenAI's Public Market Potential (32:15) Anthropic's Position and the Safety Debate (34:03) AI Safety Concerns and the Role of the US Military (38:04) The Shift in Perspective on AI and the Military (41:28) Social Media Regulation and the Role of Government (45:18) State-Level Regulation and the Challenges of Online Platforms (51:02) Gambling Regulation and Individual Accountability (55:17) Cryptocurrency and the Global Casino (58:13) Accredited Investor Status and the Downstream Implications of Regulation (101:12) Healthcare Regulation and the Challenges of Risk Assessment (104:29) Individual Accountability and the Trade-Offs of Social Fabric Insurance (107:16) The Limits of Do-Your-Own-Research (1:10:39) The Spectrum of Evidence and the Challenge of Communicating Confidence (1:14:27) A Promise to Return to Healthcare