AI Bubble, Stablecoin Boom, and Runnin' Down a Dream | BG2 w/ Bill Gurley and Brad Gerstner

<p>Pre-Order<strong> Runnin' Down a Dream</strong> now: https://a.co/d/0oIPPve</p><p>Open Source bi-weekly convo w/ Bill Gurley and Brad Gerstner on all things tech, markets, investing &amp; capitalism. This week, they unpack the $3T AI buildout, circular revenue red flags, and whether the boom is becoming a bubble. They dive into the rise of stablecoins and the new financial rails reshaping money, the fight over AI regulation in America, and Bill’s next chapter—his new book <strong>Runnin' Down a Dream</strong> and what it means to build a career you actually love. Enjoy another episode of <strong>BG2</strong>!</p><p><br /></p><p><strong>Timestamps:</strong></p><p><strong>(00:00) Intro</strong></p><p><strong>(02:00) Two Years of BG2</strong></p><p><strong>(03:45) Bill Stepping Back to Write His Book</strong></p><p><strong>(06:00) Runnin' Down a Dream</strong></p><p><strong>(07:00) The AI CapEx Bubble?</strong></p><p><strong>(09:30) Sham vs. Real Transactions in AI</strong></p><p><strong>(11:00) Microsoft–OpenAI Credits &amp; Cloud Economics</strong></p><p><strong>(13:00) Nvidia’s Investments: Healthy or Hype?</strong></p><p><strong>(17:00) CoreWeave, Hidden Leverage &amp; Demand Risks</strong></p><p><strong>(19:15) $3 Trillion CapEx: Are We Overbuilding AI?</strong></p><p><strong>(21:45) The MAG5 CapEx Surge: Too Much, Too Fast?</strong></p><p><strong>(24:30) Meta’s CapEx Comeback &amp; AI ROI</strong></p><p><strong>(25:30) OpenAI’s Race for Escape Velocity</strong></p><p><strong>(28:30) AI Regulation: State Patchwork Madness</strong></p><p><strong>(30:30) Why Federal Preemption Is Critical</strong></p><p><strong>(33:15) The Colorado &amp; California AI Acts</strong></p><p><strong>(35:00) Stablecoin Surge: $18T in Settlements</strong></p><p><strong>(36:45) Gurley’s Crypto Conversion</strong></p><p><strong>(38:30) From PIX to FedNow: The Future of Digital Money</strong></p><p><strong>(41:00) Coinbase, Circle, and the 4% Yield Revolution</strong></p><p><strong>(43:00) Why Visa &amp; Banks Fear Stablecoins</strong></p><p><strong>(45:00) Gurley: “I’m Jumping on the Crypto Train”</strong></p><p><strong>(46:00) Brad on Invest America (Trump Accounts)</strong></p><p><strong>(49:00) Implementation Timeline &amp; Treasury Update</strong></p><p><strong>(50:30) Bill’s Book: Runnin' Down a Dream</strong></p><p><strong>(53:15) The Great Career Reset: Passion vs. Grind</strong></p><p><strong>(55:00) Bezos’ Regret Minimization Framework</strong></p><p><strong>(57:00) Wh