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  1. BG2Pod with Brad Gerstner and Bill Gurley
  2. AI Bubble, Stablecoin Boom, and Runnin' Down a Dream | BG2 w/ Bill Gurley and Brad Gerstner
AI Bubble, Stablecoin Boom, and Runnin' Down a Dream | BG2 w/ Bill Gurley and Brad Gerstner

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

BG2Pod with Brad Gerstner and Bill Gurley · Oct 14, 2025

Bill Gurley on AI bubble red flags, the risks of state AI regulation, stablecoin disruption, and his new career book before stepping back.

OpenAI's $150B CapEx Strategy is a Dare for Competitors to Follow or Fold

OpenAI's aggressive partnerships for compute are designed to achieve "escape velocity." By locking up supply and talent, they are creating a capital barrier so high (~$150B in CapEx by 2030) that it becomes nearly impossible for any entity besides the largest hyperscalers to compete at scale.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

Coinbase Bypasses Banking Rules by Offering "Rewards" Not "Interest" on Stablecoins

A regulatory settlement forced crypto firms to pay "rewards" instead of "interest" on stablecoins. Coinbase is exploiting this semantic difference to offer a 4% yield, creating a product that functions like a high-yield checking account but without the traditional banking regulatory burdens. This is a backdoor disruption of consumer banking.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

Six in 10 Professionals Regret Their Career Path Due to "Boldness Regrets"

Surveys reveal that a majority of professionals (60%) would restart their careers differently. Author Daniel Pink attributes this to "boldness regrets," where the pain of not taking a chance (inaction) ultimately haunts people far more than the pain of trying something and failing. This is the root of widespread career dissatisfaction.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

NVIDIA's CoreWeave Deal Obscures True AI Demand by Guaranteeing Service Purchase

NVIDIA promised to buy any of CoreWeave's unused cloud service availability. This unusual arrangement, while helping CoreWeave secure debt financing, makes it difficult for investors to gauge real, organic market demand for its services, potentially hiding early signs of a market slowdown.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

Patchwork State AI Laws Inadvertently Entrench Big Tech by Crippling Startups

Laws like California's SB243, allowing lawsuits for "emotional harm" from chatbots, create an impossible compliance maze for startups. This fragmented regulation, while well-intentioned, benefits incumbents who can afford massive legal teams, thus stifling innovation and competition from smaller players.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

"Invest America Act" Fights Socialism by Making Every Newborn a Capitalist

The new "Invest America Act" (aka "Trump Accounts") is a policy designed to counter the appeal of socialism. It provides every child with a government-funded investment account at birth. The core idea is to address wealth inequality by ensuring universal access to asset compounding from the start, rather than through later-stage redistribution.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

US Criticism of Brazil's PIX System Exposes Deep Regulatory Capture by Banks

The US administration criticized Brazil's wildly successful instant-payment system, PIX, for harming companies like Visa. This stance reveals how deeply entrenched financial incumbents have captured US policy, actively resisting innovation that has made payments faster and cheaper in many other developed countries.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago

Investors Now Reward Massive AI CapEx, Reversing 2022's Punishment of Meta

In 2022, investors punished Meta's stock for its Reality Labs CapEx. Today, the market applauds even larger AI-related spending (66% of MAG-5's operating cash flow). This signals a fundamental belief that AI investments translate directly to tangible near-term earnings, unlike speculative bets like the Metaverse.

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

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

BG2Pod with Brad Gerstner and Bill Gurley·4 months ago