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884: The Idiot
M. Gessen returns to our show with a true-crime story that takes place entirely within their own family. This story comes to us from the producers at Serial Productions—who invented the true-crime podcast more than a decade ago—and from The New York Times.
Visit thisamericanlife.org/lifepartners to sign up for our premium subscription.
- Act One: M Gessen tells Ira Glass about the surprising events that prompted them to begin reporting on their own family for their new podcast, The Idiot. They play the first episode of the series. (14 minutes)
- Act Two: Ira Glass and M Gessen continue to talk through the story of M’s cousin, Allen Gessen. They play more clips from the podcast, and we finally hear about the big, shocking thing that snapped their family apart. (20 minutes)
- Act Three: M Gessen tells Ira Glass about Allen’s trial, and we hear a recording of his conversation with the undercover agent. (21 minutes)
Transcripts are available at thisamericanlife.org
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656. The Ku Klux Klan: Birth of a Nation (Part 3)

Trump’s Health Collapses as War gets Out of Control!!!!

Building Emotional Calluses

Thomas Laffont: The $4T AI IPO Wave, 2026's Unicorn Economy, and the 10X Paradox
(0:00) Coatue's Thomas Laffont joins the Besties!
(0:30) Public markets are back as AI is dominates the "Unicorn Economy"
(5:15) The $4T AI IPO explosion
(7:48) The case for SpaceX: Compounding launch monopoly and Starlink
(10:38) The 10x Paradox: Why we're seeing unprecedented scaling
(15:33) Segmenting AI markets and future impact
(18:32) Bestie Q&A: Power Law in AI, future of VC, where revenue is coming from, liquidity explosion
Thanks to our partners for making this possible!
EY - Agentic AI is introducing a new investment discipline. As AI shifts to consumption-based models, EY connects spend to enterprise value.
https://www.ey.com/en_us/insights/ai/agentic-ai-token-costs?WT.mc_id=3501318&AA.tsrc=sponsorship
NYSE - Thank you to our partner, the New York Stock Exchange - a modern marketplace and exchange for building the future. It all happens at the NYSE.
Plaud - Never miss a moment. Plaud, our official wearable AI note-taking partner at All-In Liquidity Summit, captured every insight.
Apply for Summit 2026:
https://allin.com/events
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Intro Music Credit:
https://rb.gy/tppkzl
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Trump in Terror Over Plan to End His Term by Newsom!!

Alex Imas and Phil Trammell – What remains scarce after AGI?
Economics of AGI episode w Alex Imas and Phil Trammell.
There’s a bunch of important questions about how we deal with AI that only economics can answer.
What is the optimal way to tax and redistribute the wealth that will be generated? How should countries not in the AI supply chain index into the gains? Is there any world where inequality doesn’t explode?
It might seem like these questions have obvious answers, but the first thing economics teaches you is that your intuitions can often be entirely wrong.
It was very helpful to chat through these things with Alex and Phil.
Watch on YouTube; read the transcript.
Sponsors
Jane Street invests heavily in turning smart people into exceptional researchers and engineers. In addition to their apprenticeship model, Jane Street runs lectures and bootcamps in their in-office classrooms -- managers clear their teams’ schedules to encourage attendance. If you’d like to work at a place that takes learning this seriously, Jane Street is hiring. Check out their open roles at janestreet.com/dwarkesh
Google’s Gemini Omni has incredible video editing capabilities -- you can upload a video and have Omni change the background, adjust lighting, or add specific elements. But Omni is also a preview of how future frontier models will be trained -- fully multimodal on both input and output. You can try it yourself in the Gemini app at gemini.google or in Flow at flow.google
Cursor used targeted RL with textual feedback to help train their Composer 2.5 model. One of their researchers, Sasha Rush, gave me an impromptu blackboard lecture to explain how this form of on-policy self-distillation works -- I posted the full thing on X. If you want to try Composer 2.5, go to cursor.com/dwarkesh
Timestamps
(00:00:00) – Will capital share increase?
(00:19:36) – Messy Middle scenario
(00:25:57) – How to tax and redistribute AI wealth
(00:30:02) – Why demand collapse is unlikely
(00:39:26) – Human employees would be hard to integrate into the machine economy
(00:43:08) – What if some humans (or AIs) value wealth accumulation intrinsically?
(01:01:28) – What should developing countries do?
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