OpenAI’s $20 BILLION MISS Wiped Out $370B from Tech Stocks
Welcome to Impact Theory! OpenAI told investors its annualized revenue was near $50 billion, far short of the roughly $70 billion investors expected. That miss helped wipe about $370 billion from Oracle, Nvidia, Broadcom, Micron, and AMD in a single session, while the Firmus data center IPO in Australia was pulled. We break down whether this is a healthy correction or the start of an AI bubble popping, and why private credit and mega-IPOs put everyday investors at risk.
Next, OpenAI says Iran-linked operatives used ChatGPT to invent fake Western journalists and got nearly 100 propaganda pieces published in U.S. outlets. That leads into the dead internet theory and how we verify what’s real online. Then the Trump administration freezes green card access for Microsoft and seven other major H-1B employers, and we debate what it means for American workers, foreign talent, and housing.
We also cover the pro-Palestinian backlash against Mayor Zohran Mamdani after the October 7th memorial, Pete Hegseth’s plan to live stream an execution by firing squad, and Palmer Luckey’s idea of using oxytocin to save marriages. We wrap with your Super Chats on global debt, the yen carry trade, and wage parity for H-1B workers.
Note: This episode contains opinion and commentary on developing stories, including AI market valuations, foreign influence operations, immigration policy, the Israel-Palestine conflict, and capital punishment. Views expressed are the hosts’ own, and some claims discussed remain contested or unconfirmed.
CHAPTERS
00:00 Intro
01:17 One OpenAI misstep just cost the market $370B
21:48 Iran’s been using AI to fake American journalists
43:54 Trump’s shocking move to protect American workers
1:02:01 The Mamdani backlash gets insane
1:18:12 America rediscovers its medieval roots
1:27:42 Palmer Luckey wants to drug us into staying in love
1:33:28 Super Chats
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Comments
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@enshala1958
October 12, 2026 at 4:34 am
NO Death Sentence ever! We have executed innocents who who were absolved over time. Also what do we gain from executing someone?
@Watts1983
October 12, 2026 at 4:34 am
1:19:50 I don’t think it is being televised for entertainment purposes, but actually for a more psychological effect. The effect would, ideally, make anyone who is thinking of doing a similar crime witness what their fate would be. Watching someone die by execution stays with you and is a great deterrent.
@DoulaLife-q4q
October 12, 2026 at 4:34 am
Please do not watch the execution. It will debase you, desensitize you, normalize violence by the state. You will never be able to unsee it. I am not making any commentary on the death penalty or the perpetrator’s guilt or innocence. I am merely making commentary on watching the death penalty as content. If you have no personal connection to this crime, you are watching this as content. Please do not watch. Please change your mind. Think this through. This is bad for you. This is bad for America. It will cause irreparable harm. Please do not watch.
@LimbLengtheningJourney
October 12, 2026 at 4:34 am
Income tax below capital gains is stupid. Income tax should be reduced, but it should always be greater than capital gains due to the difference in risk.
@LimbLengtheningJourney
October 12, 2026 at 4:34 am
1:19:50 I disagree completely. This feels completely appropriate, and maybe if we did this more often it would serve as a deterrent.
@bmwe46m3fdrx7
October 12, 2026 at 4:34 am
There is a reason why Irvine CA is full of people from other countries first generation. All homes there are multi million
@ryancalcutt5694
October 12, 2026 at 4:34 am
What if you couldnt recieve social benefits unless you've lived in the country( maybe 10 yrs) ive also wondered about taxing churches, not over taxing, but seeing as they were the ones that would take care of sick nd needy instead of gov and I dont think they do anymore. Obviously they would probably spend that money on nonsense anyway instead of paying the deficit but just spit balling ideas.
@brendanf5778
October 12, 2026 at 4:34 am
It sounds very terrible because IT IS Tom.. missing some fundamental engineering principles (how about understanding to start) and ignores them producing the problems we have a globally. We have specific chemistry with a definitive correlated effect with no clue the actual proper implementation of the mechanisms and we're seriously considering a large scale application. What could possibly go wrong with manipulating our primary sense and interpretations of reality. 1:31:12
@bolicious7606
October 12, 2026 at 4:34 am
I feel like you have no idea how to read the room
@AlphusRiggs
October 12, 2026 at 4:34 am
Could someone from Gen Z please explain to me why you care so much about Palestine?? Seriously I would love a response
@AlphusRiggs
October 12, 2026 at 4:34 am
If you believe there is a genocide in Gaza I agree with you, but it’s not by 🇮🇱 it’s by Hamas! Wake up & do your on research & quit believing the LIE
@spinachtriangle
October 12, 2026 at 4:34 am
'I believe Palestine should be free' and then he also calls it a 'genocide' and then he also agrees that it is a 'war', people of the left can never make up their minds because they live in multiple realities at the same time thinking they have the absolute moral high ground. Am sure this guy in the p-cap has no idea about the history of the region, he is probably more worried about the sticker on his laptop… Tom you don't need some one else on these conversations to jive with, if you do get another podcaster in now and then, so far both your side kicks have been distracting and not at the same level of articulation as you, not even close, either pick them better or just go solo mate.
@joshrender-dw9ks
October 12, 2026 at 4:34 am
It’s ridiculously hypocritical to preach day in and day out that we need to capture the moral high ground and say that this public execution is a step back from that and then say that it’s good entertainment and you’re 100% in for it. You have lost any credibility on any talk of moral center going forward.
@laurennoyb539
October 12, 2026 at 4:34 am
This is so not the world I want to live in! I hate AI. We are so screwed. You'll see in 10 yrs
@craightonhackney8846
October 12, 2026 at 4:34 am
This is what they get for trying to monetize intelligence. All of this money the government has to support all of this AI infrastructure, but never more money to put into the public school system.
@brevenlangley5726
October 12, 2026 at 4:34 am
The second Ryan said “You’re generalizing” I literally rolled my eyes and said “oh god here we go again”. I seriously need ppl to stop with this level of sensitivity.
@alexd.alessandro5419
October 12, 2026 at 4:34 am
While I agree to judge the outcomes not the motives behind political action, when vice president Vance is signing PERM restrictions with his right hand and with his left hand a megaphone saying "well who needs the dollar anyway" , and his boss's finger permanently pressing on the print button you have to be a credulous being to think that they're not just posturing. The gains from PERM restrictions would just be a drop of water in a tsunami of inflated current and lower buying power.
@TheLastUnicornStanding
October 12, 2026 at 4:34 am
33:17 I think we need a “fake and gay” sound bite
@jasonolinger7585
October 12, 2026 at 4:34 am
I love the idea of public executions because the closer we get to making this a normal thing, eventually this will lead to the corrupt people in government who are traitors to this nation, this will get to getting rid of corruption in the US.
@eidanlipper
October 12, 2026 at 4:34 am
Anyone who says that there is a genocide in Gaza, has no idea what they're talking about. We're talking about 3% killed in this war. There are more Palestinians today in Gaza than the were before the war, on the other hand 90% of the Jews in Poland were killed in World War II, THAT was a genocide.
@grimaldus1967
October 12, 2026 at 4:34 am
America is 250 years old.. it doesn't have Medieval roots.