Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg)

1. 0:00 – 2:38

   Mike Taylor - Who Got the Truth?

   1. DRDavid Rosenthal0:02

      Hey, so, um, I know this isn't, like, the best time to bring this up, but, um, did you bring the thumb drive with the Who Got the Truth MP3 for the sound crew?

   2. BGBen Gilbert0:14

      No, why would I bring a thumb- Uh, I did email that, probably like three weeks ago, though.

   3. DRDavid Rosenthal0:21

      Uh, well, um, there's 6,000 people out there waiting to hear it. [audience cheering]

   4. BGBen Gilbert0:28

      Uh, look, uh, uh, the team is really great. I'm sure they'll think of something. [upbeat music]

   5. MTMike Taylor0:44

      Yeah, yeah. Hey, hey, hey. Yeah, yeah, yeah, hey! Who got the truth? Yeah. Is it you, is it you, is it you? Who got the truth? Now, now, yeah. Is it you, is it you, is it you? Sit me down, say it straight. Another story on the way. Who got the truth? Yeah. Everybody's talking, nobody's listening. These days, I feel lost, man, lost in opinions. Everybody's fighting, nobody's winning. Take me home, 'cause I don't know what's going on in the world I'm living. San Francisco, please help me welcome to the stage, the creators of the Acquired podcast, Ben Gilbert and David Rosenthal! [upbeat music]

   6. BGBen Gilbert1:38

      Oh, [laughing] my God!

   7. DRDavid Rosenthal1:39

      Whoo!

   8. BGBen Gilbert1:42

      Oh, my God.

   9. DRDavid Rosenthal1:44

      Hi.

   10. MTMike Taylor1:46

       Yeah. Sit me down, say it straight. Another story on the way. Who got the truth? Yeah! Who got the truth? Yeah. Who got the truth?

   11. DRDavid Rosenthal2:03

       San Francisco! [audience cheering] Mike Taylor. Woo! We didn't need the thumb drive.

   12. BGBen Gilbert2:13

       We didn't need the thumb drive. Welcome to this episode of Acquired, the podcast about... [laughing] [audience cheering] Welcome to Acquired Live at the Chase Center!

   13. DRDavid Rosenthal2:25

       Woo! [audience cheering] Wow. This is, uh, [laughing] wow, this is unbelievable. [chuckles] Thank you all for coming.

2. 2:38 – 4:37

   Jamie Dimon

   1. DRDavid Rosenthal2:38

      Uh, we have a very, very special guest and surprise to welcome us all here tonight, the CEO of JPMorgan Chase, Jamie Dimon. [audience cheering]

   2. JDJamie Dimon2:53

      Hello, Acquired listeners. Welcome to the Chase Center and to Acquired Live. I'm Jamie Dimon, chairman and CEO of JPMorgan Chase. I'm happy to kick off the show tonight and welcome all of you to one of my favorite arenas. It's been a great partnership all year between J.P. Morgan Payments and Acquired, storytelling and educating about some of the greatest companies in the world. For many of them, just like many of you in the crowd, we're thrilled to call you friends and partners of the firm. Sorry I couldn't be there in person tonight, but I hope everyone enjoys the show. Ben and David, over to you. [audience applauding]

   3. BGBen Gilbert3:28

      Thanks, Jamie. [laughing]

   4. DRDavid Rosenthal3:30

      [laughing]

   5. BGBen Gilbert3:31

      Well, a special shout-out and a huge thank you to J.P. Morgan and the whole payments team, especially Dustin Sedgwick, the CMO of J.P. Morgan Payments. Longtime listener, who's been, like, really the driving force behind this whole thing, and his truly world-class marketing team, Hannah, Nick, Vinnie, Amy, and Carly. David and I, for the first time, really now understand what it is like to have a glimpse of what a sort of-

   6. DRDavid Rosenthal3:56

      What ha-

   7. BGBen Gilbert3:56

      ... real, built-out team would look like, and not just two guys in their basement. So-

   8. DRDavid Rosenthal4:00

      Ben and-

   9. BGBen Gilbert4:00

      Thank you for an a- amazing partnership.

   10. DRDavid Rosenthal4:02

       Ben and I did not put this on ourselves tonight. [laughing]

   11. BGBen Gilbert4:06

       [laughing]

   12. DRDavid Rosenthal4:07

       Uh, so what are we doing tonight?

   13. BGBen Gilbert4:09

       Well, as you all know, Mark Zuckerberg is in the house.

   14. DRDavid Rosenthal4:13

       Ooh. [audience cheering]

   15. BGBen Gilbert4:18

       So tonight, we'll actually have three acts, not one. Uh, Mark will be our third act after intermission, but we bought- got a lot of great segments, you know, in our first two acts here, and, uh, uh, some more f- fun, fun surprises sprinkled in in the middle. So, um, David, what is the format like? Is this an Acquired episode?

3. 4:37 – 9:26

   Bloopers

   1. DRDavid Rosenthal4:38

      Well, um, amazingly, shockingly, we, we tell you all all the time that we make, when we make an episode, we sit in our houses, in our studios, we record all day for nine hours. We turn that nine hours into three or four or five hours that you all hear. Um, and we thought, "Yeah, that's probably not gonna play here," but you keep asking us, you keep emailing us, so we wanna put this request, this question to bed, once and for all, here tonight. Here is what you are missing- [chuckles] ... in the full nine hours of an Acquired recording session. [upbeat music]

   2. BGBen Gilbert5:15

      I've been trying to do a better job getting airflow in here while we're recording, 'cause I think I get dumber at the end of episodes, or at least I get, like... I just get exhausted, and I think part of it's the lack of oxygen.

   3. DRDavid Rosenthal5:25

      It's really hot in here, and we've been going for five and a half hours, so [chuckles]

   4. BGBen Gilbert5:29

      Let, let me finish this thing, and then we'll, uh, take a bathroom break.

   5. DRDavid Rosenthal5:32

      Hmm, I had a similar thought. [upbeat music] [burps] Pour some more champagne. Sorry about that. [upbeat music] [laughing] Hey, Blue Angels. [upbeat music]

   6. BGBen Gilbert6:02

      ... Great, only nine minutes and forty seconds of bullshitting before we actually started. That's pretty good for us.

   7. DRDavid Rosenthal6:06

      It's a new record. [laughing]

   8. BGBen Gilbert6:09

      Is this too in the weeds? Let me take a stab at making it more loosey-goosey.

   9. DRDavid Rosenthal6:13

      I think I can simplify all this. [chuckles]

   10. BGBen Gilbert6:15

       We gotta advance the story more. The pacing's too slow. Oh, this doesn't make any sense.

   11. DRDavid Rosenthal6:21

       Okay, great. We can cut all that then.

   12. BGBen Gilbert6:22

       Cut that.

   13. DRDavid Rosenthal6:23

       Just cut it. Let's cut all that. Cut that.

   14. BGBen Gilbert6:26

       Skip it.

   15. DRDavid Rosenthal6:27

       Just skip it. Yeah, let's skip it and keep moving. Ah, okay, I think one of us has our timelines wrong. We've been so stop and start. Do you think we should just restart the whole thing?

   16. BGBen Gilbert6:38

       We're thirty-five to forty minutes into this episode, and nothing has happened.

   17. DRDavid Rosenthal6:42

       I think I would actually feel better and more in the flow.

   18. BGBen Gilbert6:45

       'Cause right now I'm like: What did we cover? What did we not?

   19. DRDavid Rosenthal6:47

       I think what you're saying is replace all of what we did before.

   20. BGBen Gilbert6:50

       I'm gonna go re-record at least the first part, maybe that whole thing.

   21. DRDavid Rosenthal6:52

       I don't recall exactly how we started, though.

   22. BGBen Gilbert6:56

       I don't remember the last thing you said.

   23. DRDavid Rosenthal6:58

       I don't either. [laughing] Uh...

   24. BGBen Gilbert7:01

       I think I've been, like, interrupting.

   25. DRDavid Rosenthal7:04

       No, I think it's great. I... No, please keep doing it. No, no, I don't, I don't, I, I don't find it annoying at all. No, the goal is, like, make the best stuff.

   26. BGBen Gilbert7:11

       I actually quite like how this is puzzling in. [laughing] Hang on one second. You gotta stop making that face.

   27. DRDavid Rosenthal7:19

       Oh, me? Was I making a face?

   28. BGBen Gilbert7:21

       And take it without the um.

   29. DRDavid Rosenthal7:23

       Um...

   30. BGBen Gilbert7:24

       Uh.
4. 9:26 – 38:41

   Daniel Ek

   1. DRDavid Rosenthal9:26

      are. So to start, we wanted to spend a couple minutes at the top of the show here in our, um, first act, uh, just giving you all an update on the state of Acquired. It has been quite a year for us. You and I have lived a lot of life [chuckles] in one year. We've both had kids. Um, the Wall Street Journal wrote about us. [laughing] Woo. [audience cheering]

   2. BGBen Gilbert9:50

      Yeah.

   3. DRDavid Rosenthal9:50

      Uh, and we've experienced some, some pretty amazing growth.

   4. BGBen Gilbert9:55

      Yeah, and so we were thinking, like, you know... David kind of pitched this to me, and I'm like: "What, are we gonna stand up and give a keynote on, like, the state of the union of Acquired? That's not, that doesn't feel right." But a conversation would be great if we were to, you know, the right person to have a conversation with. And we were like: "Who is a big Acquired listener, and kind of gets what we're all about?" Everyone in the audience is gonna be like, "Oh, yeah, that person's one of us," and is, like, you know, the world expert on podcasting. Fortunately, for us and all of you tonight, we are here to welcome, all the way from Stockholm, the CEO and founder of Spotify, Daniel Ek. [upbeat music]

   5. DRDavid Rosenthal10:30

      [audience cheering] Woo!

   6. SPSpeaker10:35

      Wow.

   7. BGBen Gilbert10:37

      Thank you so much.

   8. DRDavid Rosenthal10:38

      Wow. Daniel! [upbeat music]

   9. SPSpeaker10:50

      Wow, this is pretty insane, guys. Uh, I think this probably ought to be, like, the biggest recording of a podcast- [laughing] ... in the world. [laughing]

   10. DRDavid Rosenthal11:01

       For you.

   11. BGBen Gilbert11:01

       It's a little, kind of, like, a-

   12. DRDavid Rosenthal11:03

       Mm.

   13. BGBen Gilbert11:03

       Kind of an echoey studio.

   14. SPSpeaker11:05

       Yeah, yeah. W- w- you guys should use this as the studio every time, I think.

   15. DRDavid Rosenthal11:09

       Well-

   16. SPSpeaker11:09

       That'd be the perfect-

   17. DRDavid Rosenthal11:10

       ... you've been after us to do more video for years.

   18. SPSpeaker11:13

       That is true.

   19. DRDavid Rosenthal11:13

       Here you are.

   20. BGBen Gilbert11:14

       This is gonna be a video, for sure. [laughing]

   21. SPSpeaker11:15

       All right. Well, well, love that. Love that. And, you know, it, it's, uh, it's really amazing for me to be here and just see, you know, this and all of you guys' success. I remember listening to you guys, uh, as a fan, uh, I think starting twenty nineteen, and see that we're now five years later, uh, from a small base going to something like this, it's pretty remarkable to see. And I, I don't know about you guys, but I, I thought maybe to commemorate this moment, uh, it'd be pretty fun... I, I know you don't wanna tout your success, so I, I thought maybe I could do that for you. So, uh, maybe we can have a look at some of the amazing-... stats and achievements you guys have accomplished?

   22. BGBen Gilbert12:02

       Well, thanks. Yeah, I know, uh, you pulled some data, we pulled some data. Uh, this is the updated version up here of, um, the kind of classic Acquired chart that we've been showing, which basically shows from when we started in 2015, the kinda like organic doubling year over year over year, all the way through today. Um, and basically, since we don't market the show, or we don't do any, any paid marketing, the only way the show grows is we make an episode, a friend tells... You know, someone tells their friend about it, and on average, every listener tells one other, one other listener every year, "Hey, you should listen," and that person sticks.

   23. SPSpeaker12:36

       Yeah.

   24. BGBen Gilbert12:36

       And that's kinda the whole thing.

   25. SPSpeaker12:40

       Yeah, I mean, it, it's pretty remarkable. And on Spotify alone, you guys have now done over five million hours, and it tripled in the last year. Pretty remarkable, right? [audience applauding] Uh, yeah, big round of applause. [chuckles] So, so-

   26. DRDavid Rosenthal12:55

       The, the, uh... So, so, so we did the math, or Ben did the math, as he usually does. I believe that is over 400 years of Acquired that was [laughs] ... We feel like it was 400 years making the episodes in the last year, uh, but that was listened to in the past year.

   27. SPSpeaker13:11

       Yeah. What, what is the... Is, is the Nintendo one the longest one you guys have done?

   28. BGBen Gilbert13:16

       I think Microsoft Volume 2 was our longest.

   29. DRDavid Rosenthal13:19

       Yeah, longest single episode.

   30. BGBen Gilbert13:20

       But I... Thank you for pulling this. So the reason- the way this came to be is we asked Daniel, "Hey, y- you know, you have access to data that, um, all podcasters sort of dream of. What is the most interesting insights you can kinda pull out of it?" And the thing that's the craziest to me a- about this chart is that even though Acquired's, uh, here's how many downloads an episode gets, isn't like celebrity status. Like, it's not the craziest, biggest in the world. Because of the volume of our episodes, we all spend a lot of time together. Like, thank you for lending us your ears for all of those moments, 'cause that, that's, that's what that chart is to me, is all the time we spent together.
5. 38:41 – 40:32

   Statsig

   1. BGBen Gilbert38:41

      All right, listeners, this is a great time to tell you about one of our favorite companies in the Acquired ecosystem, Statsig. As you probably know by now, Statsig is the world's first product acceleration platform. Thousands of companies, from OpenAI to Series A startups, rely on Statsig to ship fast, learn more, and make smart decisions. But you may not know about all the ways in which their story is directly tied to Facebook's story that Mark will share with us later this episode.

   2. DRDavid Rosenthal39:09

      Indeed, and Mark's most famous catchphrase is probably, "Move fast and break things," but despite instilling this in Facebook's engineering culture, Facebook doesn't actually break very often. How, Ben?

   3. BGBen Gilbert39:21

      Well, Facebook invested hundreds of thousands of engineering hours in a set of internal tools. These tools let any engineer set up new metrics, ship new features, and measure performance in real time. So that meant anyone could just ship a new feature, but they always had the metrics to use as guardrails, and they could always roll it back if anything broke.

   4. DRDavid Rosenthal39:40

      Totally awesome. You might wish that your team could build products like Facebook did: ship fast, make database decisions, iterate rapidly, but you need the right tools, so you're stuck, right? Well, enter Statsig. Statsig has built the world's first product acceleration platform, combining tools like feature flags, product analytics, experimentation, and observability all in one place, helping you move faster and make smarter decisions.

   5. BGBen Gilbert40:05

      And even better, Statsig was literally founded by an ex-Meta team who wanted to help everyone build like the best. Today, many of the world's leading tech companies rely on Statsig, including OpenAI, Microsoft, Notion, Anthropic, Figma, plus thousands of early-stage startups.

   6. DRDavid Rosenthal40:21

      So if you're ready to accelerate your growth and democratize product building at your company, just go to statsig.com/acquired, and when you get in touch, just tell them that Ben and David sent you.

6. 40:32 – 43:07

   Crusoe

   1. BGBen Gilbert40:32

      Yes. Now is also a great time to tell you about one of our very favorite companies, the climate-aligned AI infrastructure provider, Crusoe.

   2. DRDavid Rosenthal40:41

      Yes, Crusoe is a cloud platform built specifically for AI workloads and powered by clean energy. They build and operate GPU data centers, with each one powered by low-cost, stranded energy that otherwise goes to waste or, worse, gets emitted as greenhouse gases.

   3. BGBen Gilbert40:58

      The way this works is completely crazy. When Acquired first started working with Crusoe, uh, last year, it was a cool idea. It, it was an early-stage, very cool, kind of insane concept. Now they are one of the world's most important companies with an AI cloud that is actually superior to the hyperscalers, and a whole bunch of the largest companies in the world are now trusting their AI infrastructure to Crusoe.

   4. DRDavid Rosenthal41:23

      Yeah, it's easy to think about AI as like, "Oh, that's a bunch of PhDs over at Meta or OpenAI or Anthropic tinkering with model weights and then going and hitting Compute." But there's this whole other industrial side of AI that's everything that happens after they press go on model training, and that's energy, that's cooling, that's construction. It's literally like steel and pipes and wire. It's all the physical infrastructure behind AI. Crusoe has, like, hundreds and hundreds of construction workers, steel workers, plumbers, electricians, all building and operating data centers in some of the harshest locations on Earth to capture this energy.

   5. BGBen Gilbert42:01

      Yeah, the net of all this is Crusoe has gigawatts of power in their development pipeline. That is like nuclear reactor amounts of power for less cost than other providers and with zero, or in some cases, actually negative emissions, and that's super important. If you listen to Mark talk later in this episode or elsewhere about what the bottleneck to AI progress is, it's actually not compute, but energy, and Crusoe is solving that problem.

   6. DRDavid Rosenthal42:28

      ... It's just an awesome company. We're super proud to work with them and also to be investors. The other big update that's happened since we started working with them last year is that you can now work with Crusoe either through their managed AI cloud, which you always could, and that's great for startups and enterprises who want a complete AI platform, or directly as a data center customer, which, yeah, several of, like, the biggest companies in the world are now doing. So just go on over to crusoe.ai/acquired. That's C-R-U-S-O-E.ai/acquired, or click the link in the show notes and tell them that Ben and David sent you.

   7. BGBen Gilbert43:05

      Thanks, Crusoe.

7. 43:07 – 1:05:50

   Emily Chang

   1. BGBen Gilbert43:07

      [applause]

   2. DRDavid Rosenthal43:08

      Well, we've got a little more time before Mark comes on, and we have a couple more surprises planned. Um, I think it's time to talk about the next one.

   3. BGBen Gilbert43:18

      Act two.

   4. DRDavid Rosenthal43:18

      Act two.

   5. BGBen Gilbert43:20

      So David and I are sitting around, we're planning tonight. We're like: What's the thing to do when we've got all these great folks in the room who, who love Acquired? And we're like, ma- rather than ask them, "Hey, what should we do tonight?" We should just check our email and see, like, what do people actually already want when we're not even asking.

   6. DRDavid Rosenthal43:37

      Episode requests-

   7. BGBen Gilbert43:38

      Episode requests.

   8. DRDavid Rosenthal43:38

      Number one.

   9. BGBen Gilbert43:39

      Yep.

   10. DRDavid Rosenthal43:39

       You go through the Acquired inbox, lot of episode requests.

   11. BGBen Gilbert43:43

       The second-biggest request is, "Hey, you did this episode, you were wrong, you need to fix it," or, "You did this episode, and, like, a lot has happened since, and you need to do a follow-up on it." And so we thought, what if we pick, like, three or four of those, and we speed run all of them with the Acquired audience present?

   12. DRDavid Rosenthal44:04

       Yep. Add it, update the Acquired canon, and we thought: Who could we do this with? And it just so happens that the perfect person to grill us on everything we got wrong and everything we need to update lives right here in San Francisco. Please welcome, from Bloomberg and The Circuit, Emily Chang. [upbeat music]

   13. ECEmily Chang44:30

       Hi! Hello.

   14. DRDavid Rosenthal44:33

       Hi.

   15. BGBen Gilbert44:33

       Hi.

   16. ECEmily Chang44:33

       Hi, hugs.

   17. DRDavid Rosenthal44:35

       Emily-

   18. ECEmily Chang44:35

       Congratulations.

   19. DRDavid Rosenthal44:36

       Oh, thank you so much.

   20. ECEmily Chang44:37

       Thanks so much. [upbeat music] Congratulations.

   21. BGBen Gilbert44:47

       Thank you. Thank you for being our guest.

   22. ECEmily Chang44:48

       I mean, you guys, this is pretty awesome. [laughing]

   23. DRDavid Rosenthal44:51

       [laughing]

   24. BGBen Gilbert44:51

       Welcome to our, uh, recording studio.

   25. DRDavid Rosenthal44:53

       Welcome to our... Yeah. [chuckles]

   26. ECEmily Chang44:54

       Thank you.

   27. DRDavid Rosenthal44:55

       Uh-

   28. ECEmily Chang44:55

       I'm glad to be here.

   29. BGBen Gilbert44:56

       W- I, I, I need to, like, mine you for some research. I know we have, like, a thing that we're doing here over the next nineteen minutes, but, um, you went wake surfing with Mark.

   30. ECEmily Chang45:06

       [laughing]
8. 1:05:50 – 1:10:13

   Max Neukirchen & Umar Farooq

   1. BGBen Gilbert1:05:50

      All right, so, uh, David, we've had Jamie Dimon, we've had Daniel Ek, we've had Emily Chang.

   2. DRDavid Rosenthal1:05:56

      Yep.

   3. BGBen Gilbert1:05:57

      What else could we possibly have up our sleeve before Mark?

   4. DRDavid Rosenthal1:06:00

      We won't keep you waiting too, too much longer, but we do have one more special guest, one more surprise update, in a minute.

   5. BGBen Gilbert1:06:09

      Yes. But first, David, this is a great time-

   6. DRDavid Rosenthal1:06:13

      [laughing]

   7. BGBen Gilbert1:06:13

      ... to tell you a little bit more about our incredible presenting partner, J.P. Morgan Payments. [clapping]

   8. DRDavid Rosenthal1:06:18

      Uh, yes, it is. Um, Max and Umar are actually backstage.

   9. BGBen Gilbert1:06:27

      Oh, should we do it live?

   10. DRDavid Rosenthal1:06:28

       I think we should do it live.

   11. BGBen Gilbert1:06:28

       Like, do it with them?

   12. DRDavid Rosenthal1:06:29

       I think in the spirit of doing it live, please welcome the global co-heads of J.P. Morgan Payments, Max Neukirchner and Umar Farooq. [upbeat music]

   13. BGBen Gilbert1:06:48

       ... Hey, Umar.

   14. DRDavid Rosenthal1:06:48

       Max, thank you. [upbeat music]

   15. BGBen Gilbert1:06:57

       Well, welcome, guys. It is so great to have you here. Listeners have heard us talk about J.P. Morgan Payments all year on Acquired, but could you start maybe just with a quick overview on the business, how big it is, and how important to the world it is?

   16. MNMax Neukirchen1:07:10

       Yeah. Hello, everyone. Great to be here with you, and, you know, Dave and Ben, great to share the stage with you. It's been a fantastic partnership. You talk about so many successful companies. Look what you have created here. Now, J.P. Morgan Payments, in brief, we basically help companies receive money, hold money, send money, safeguard money against fraud, and take the insights from all of this to, to grow their business. That takes many different forms. We help the coffee shop around the corner have a point-of-sale solution, so they can take credit cards. We work with marketplaces or e-commerce platforms, and we work with many large multinational companies and even other banks. We're in hundred and sixty countries, and we move about ten trillion dollars, ten trillion dollars every day. That is, I think, one in every four dollars that moves around the globe. [laughing]

   17. BGBen Gilbert1:08:10

       Wow!

   18. DRDavid Rosenthal1:08:11

       Wow.

   19. MNMax Neukirchen1:08:11

       So it is, I think, probably the largest payments business in the world. And as a result, we don't only become the backbone of many companies, but sometimes of entire economies, which means we have, of course, in our DNA, creativity and problem-solving, but we also focus on stability, resiliency, and safety. And this is why so many companies that you feature in Acquired are actually our clients, and, you know, they simply can't outgrow us. We are with them every step of the way, from startup all the way to sitting here on the chair.

   20. BGBen Gilbert1:08:51

       The last payment solution you will ever need. [chuckles]

   21. MNMax Neukirchen1:08:53

       Yeah, exactly.

   22. DRDavid Rosenthal1:08:54

       Well, okay, so speaking of, we're here in San Francisco, in Silicon Valley, the tech and AI capital of the world. How is J.P. Morgan Payments keeping pace with the innovation that is happening in this room all around us, the businesses that you all are building?

   23. UFUmar Farooq1:09:09

       As Max said, it's part of our DNA. We have to innovate to survive. We are building stuff for next five, ten, twenty, hundred years. We, within our Onyx business unit, have the largest financial blockchain live ecosystem on the planet. Uh, we do bigger transactions than any blockchain, including the crypto blockchains. Um, we basically have pretty extensive embedded finance solutions, where you might be interacting with the platform, but really, it's our rails that are seamlessly serving you. And then the list goes on and on. And even in AI, which you cannot not mention anymore in the world, um, we use AI to catch fraud, which you can imagine, you know, you've got to go up some-- against some AI systems on the other side, you need to have some AI of your own. So, uh, the- we are building stuff at a, you know, different scale and scope. When I think of J.P. Morgan Payments, we perform miracles in magnitude every single day.

   24. DRDavid Rosenthal1:09:58

       Ah, great. Well, thank you so much for the great relationship.

   25. UFUmar Farooq1:10:01

       Thank you for having us. Really appreciate it.

   26. DRDavid Rosenthal1:10:02

       Thank you. [upbeat music]

9. 1:10:13 – 1:13:12

   Jensen Huang

   1. BGBen Gilbert1:10:14

      All right, so we alluded to one more thing before-

   2. DRDavid Rosenthal1:10:17

      Wait

   3. BGBen Gilbert1:10:17

      ... intermission. We have a-

   4. DRDavid Rosenthal1:10:19

      We have one more thing before one more thing. [chuckles]

   5. BGBen Gilbert1:10:21

      Uh, a special treat from a past Acquired guest. So one of the things that happened in the insane, you know, year that we've had, uh, was that we had this, like, viral clip from an episode. This never happened in the land of Acquired, and it got, like, tens of millions of views, and it got picked up by Forbes, and Fortune, and The New York Times, and The Wall Street Journal. It actually went so nuts that w- we felt like it was kind of misunderstood, and we felt bad. We pulled the clip down 'cause we felt like it just wasn't really explaining what the person meant correctly. And so we wanted to correct the record and have that person back, via video, to kind of say it straight and say what he meant. So everyone, Jensen Huang. [audience cheering]

   6. JHJensen Huang1:11:05

      Hi, everybody. It's great to join you at Acquired Live. Wow, this is, this is really something. I, I still remember when I met Dave and Ben, uh, they interviewed me right here on this stage, uh, at NVIDIA's headquarters, and now this podcast, it's attracted an in- incredible audience, and so I'm really proud of them. And one of the questions that they asked me was, was, uh, you know, if I, if I knew what I know now, I think, or something like that, you know, would I start NVIDIA all over again? And, and I said, "Absolutely not." Of course, I... It was taken out of context, uh, because I was asked about that several times after that, and of course, I would start the company if I knew it would turn out this way. The reason why I said what I said was, was- has everything to do with being an entrepreneur. Building a company is insanely hard. Uh, the, the number of things that you have to know, uh, the, the amazing people that you have to surround yourself with, um, the ad- adversaries, uh, that, and all the smart things that they're gonna do, uh, and, and, uh, and the adversities, uh, that you're gonna, you're gonna, uh, be confronted with over time. The mountain of it, in the course of thirty-one years, if I were to take all of that, um, all the challenges and all the hardship and all the pain and suffering of the last thirty-two years, and I were to compress it into the brain of a twenty-nine-year-old, there is no way that that person would have started the company. And, and I-- my point there is, is the super point of, of, um, entrepreneurs, which is your superpowers are partly your ignorance, that, that you don't know how hard it is.

   7. SPSpeaker1:12:57

      ... and so, I mean, that's what I meant. [laughing]

   8. BGBen Gilbert1:13:00

      [laughing] Everybody, Jensen Huang! [clapping]

   9. DRDavid Rosenthal1:13:04

      Hey. [clapping]

   10. BGBen Gilbert1:13:07

       Nice to have that fixed.

   11. DRDavid Rosenthal1:13:09

       Yes, yes.

   12. BGBen Gilbert1:13:09

       Feels good.

   13. DRDavid Rosenthal1:13:10

       We can officially correct the record

10. 1:13:12 – 2:22:20

    Mark Zuckerberg

    1. DRDavid Rosenthal1:13:12

       on that one.

    2. BGBen Gilbert1:13:12

       Yes. All right, we have finally arrived, the main event. Tonight has featured some incredible founder-led companies: Jensen from NVIDIA, Daniel from Spotify, and next we have the iconic founder/CEO of our time, Mark Zuckerberg. [upbeat music]

    3. MZMark Zuckerberg1:13:38

       Hey! Let's go, man. How's it going? Yeah. Ah.

    4. DRDavid Rosenthal1:13:54

       Mark. [laughing]

    5. MZMark Zuckerberg1:13:55

       Hey.

    6. DRDavid Rosenthal1:13:56

       It's great to have you here.

    7. BGBen Gilbert1:13:57

       Whoo! [clapping]

    8. MZMark Zuckerberg1:13:58

       It's great to be here. You know, I was watching, I was watching Jensen's video correcting the record, and I was thinking to myself, "We might need to book the next one of these for all the things I'm going to have to apologize for- [laughing] ... that I'm going to say tonight." [laughing]

    9. DRDavid Rosenthal1:14:10

       [laughing] Well-

    10. MZMark Zuckerberg1:14:11

        Nah, just kidding.

    11. DRDavid Rosenthal1:14:12

        Well, uh-

    12. MZMark Zuckerberg1:14:13

        I don't apologize anymore. [laughing]

    13. BGBen Gilbert1:14:16

        [laughing] We've noticed. [laughing]

    14. DRDavid Rosenthal1:14:18

        Uh, well, okay, wait, wait, here's the question: if you knew what you knew today, w-

    15. MZMark Zuckerberg1:14:22

        What's that?

    16. DRDavid Rosenthal1:14:23

        If you knew what you know today, would you have started Facebook?

    17. MZMark Zuckerberg1:14:27

        Oh, God. Um, I mean, I... Look, I, I think-

    18. BGBen Gilbert1:14:30

        Coming out hot, David. [laughing]

    19. MZMark Zuckerberg1:14:31

        Yeah, no, I mean-

    20. DRDavid Rosenthal1:14:32

        Wait, he started it. [laughing] Literally.

    21. BGBen Gilbert1:14:34

        [laughing]

    22. MZMark Zuckerberg1:14:34

        I, I think there's something to Jensen's original sentiment, which is that n- the entrepreneurial journey is very challenging, especially the early days when you're running a startup, and, you know, there's this sense that what you're doing could just die at any moment, and, you know, the volatility, everything is just getting thrashed so much. And it's, it's not... You know, you, you obviously, you look back, and you have all these fond memories, but it was not the most fun part of the journey or, you know, the part of my life that I, like, wish I could go back and relive. So, I mean, I, I do think that there's something to what Jensen was saying that I thought was very honest, and that when I heard him say it the first time, I was like: "Yeah, I get that." Right? It's like, I think, I, I think there are a l- like, a lot of people for whom, you know, if you knew how painful, uh, it would be along the way, you wouldn't get started. But then, you know, I think that that's one of the things that's good about human nature is you can underestimate how painful things are going to be, so that way you can go and do good things.

    23. BGBen Gilbert1:15:38

        [laughing]

    24. DRDavid Rosenthal1:15:39

        Well, um, [laughing] on that topic, we have a lot to talk about.

    25. MZMark Zuckerberg1:15:44

        Yeah.

    26. DRDavid Rosenthal1:15:45

        I think this is actually very appropriate. First, we have to ask you about your shirt and what you're wearing.

    27. BGBen Gilbert1:15:52

        [laughing]

    28. MZMark Zuckerberg1:15:52

        Yeah, you know, I, um, I started, uh, working with people to design some of my own clothes.

    29. BGBen Gilbert1:16:04

        [laughing]

    30. MZMark Zuckerberg1:16:04

        And, um, so I figure, you know, look, we're gonna design eyewear, we're gonna design other stuff that people wear. Let's get, let's get good at this. And, um, so, so this one, I actually... I worked with this great fashion designer, Mike Amiri, and, um, he's got a great story, so I, I, I wouldn't be surprised if you're doing one of these with him one day. Um, and this one is... So I've, I've, I've kind of started working on this series of shirts with my, some of my favorite classical sayings on them. So this one is "pathē mathos," uh, learning through suffering.
11. 2:22:20 – 2:23:25

    Thank yous

    1. BGBen Gilbert2:22:20

       Everyone, thank you so much.

    2. DRDavid Rosenthal2:22:22

       Thank you so much.

    3. BGBen Gilbert2:22:22

       Huge thank you to Mark Zuckerberg.

    4. DRDavid Rosenthal2:22:23

       Woo! [audience applauding]

    5. BGBen Gilbert2:22:27

       Thank you all for making something tonight, something that we will never, ever forget.

    6. DRDavid Rosenthal2:22:31

       Ever.

    7. BGBen Gilbert2:22:32

       We have some thank yous.

    8. DRDavid Rosenthal2:22:33

       We have a whole lot of thank yous. Making tonight happen has taken our entire summer. It's taken the entire summer of dozens of people. There were about 1,000 people working on tonight, and I just wanna give them all-

    9. BGBen Gilbert2:22:46

       Like, literally

    10. DRDavid Rosenthal2:22:46

        ... a big hand. Thank you so much. [audience applauding]

    11. BGBen Gilbert2:22:50

        Woo!

    12. DRDavid Rosenthal2:22:50

        Uh-

    13. BGBen Gilbert2:22:51

        Thank you to Mark and the entire Meta executive team that we got to talk to, to prep for this. Daniel and the Spotify team, uh, Emily and Lauren from Bloomberg and The Circuit, Jensen, Mylene, uh, Janine, everyone from the whole NVIDIA team, to Hermès for dressing us tonight-

    14. DRDavid Rosenthal2:23:05

        Thank you, Hermès

    15. BGBen Gilbert2:23:05

        ... so we look quite presentable.

    16. DRDavid Rosenthal2:23:06

        [laughing] Woo! [audience cheering]

    17. BGBen Gilbert2:23:08

        To our families and our lovely wives, thank you so much.

    18. DRDavid Rosenthal2:23:11

        Most importantly-

    19. MTMike Taylor2:23:13

        Thank you!

    20. DRDavid Rosenthal2:23:13

        Thank you to our wives.

    21. BGBen Gilbert2:23:14

        And of course, thank you to Jamie Dimon, JP Morgan Chase, J.P. Morgan Payments, for making this whole evening possible. It's been a dream partnership. We are so grateful. Listeners,

12. 2:23:25 – 2:26:03

    Mike Taylor - Who Got the Truth?

    1. BGBen Gilbert2:23:26

       we will see you next time.

    2. DRDavid Rosenthal2:23:26

       We'll see you next time.

    3. BGBen Gilbert2:23:28

       And thank you, Mike Taylor!

    4. DRDavid Rosenthal2:23:30

       Woo. [audience cheering] [upbeat music]

    5. MTMike Taylor2:23:41

       Yeah! Ben and David, thank you so much. Yeah, yeah. Who got the truth? Yeah. Is it you, is it you, is it you? Who got the truth now, now? Is it you, is it you, is it you? Sit me down, say it straight. Another story on the way. Who got the truth now? Everybody's talking, nobody's listening. These days, I feel lost, man, lost in opinions. Everybody's fighting, nobody's winning. Take me home, 'cause I don't know what's going on in the world I'm living. Everybody break, break, breaking up the dinner. Oh, baby. Through all the smoke, I need to know who got the truth. Hey, is it you, you, you? Yeah, who got the truth now, now? Is it you, is it you, is it you? Sit me down, say it straight. Another story on the way. Who got the truth now? Not here for the cheap talk. It flip-flop like a seesaw. Not free under these laws. Now the world see what we saw. People wonder what to do now. It took a body cam to get the truth out. Hit the streets trying to move out. We got so much to lose now. Everybody break, break, breaking up the dinner. Oh, baby. Through all the smoke, I need to know who got the truth. Yeah. Is it you, you, you, you, you? Who got the truth now, now? Is it you, you, you? Sit me down, say it straight. Another story on the way. Who got the truth now? Who got the truth? Yeah. Acquired live from the Chase Center. [upbeat music] Who got the truth? Yeah. Yeah! Yeah, get it. Hey, hey. Let's get it.

Episode duration: 2:26:03