Weekly Roundup 11/13/26 (Jensen exits NVIDIA, 21 banks back Project Faro stablecoin, Warren prepares her agenda, MEXC sanctions violations)

Matt Walsh (0:01)

Matt Walsh and Nic Carter are partners at Castle Island Ventures. All of these expressed by them or the guests on this podcast are solely their opinions and do not reflect the opinions of Castle Island Ventures. Guests and hosts may maintain positions in the assets discussed in this podcast. You should not treat any opinion expressed by anyone on this podcast as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of their personal opinion. This podcast is for informational purposes only.

SPEAKER_2 (0:22)

Brought down by Bad Mortgage Investments, Lehman, which has 25,000 employees, will be liquidated.

SPEAKER_3 (0:28)

The federal government loans American International Group AIG $85 billion. This is a different kind of market and the Fed is asleep.

SPEAKER_4 (0:35)

The federal government is stepping in to stabilize Fannie Mae and Freddie Mac, the two mortgage giants that have been threatened by the housing crisis.

SPEAKER_5 (0:42)

The Bank of England has pumped $75 billion more into Britain's ailing economy. The new round of constitutive easing.

Matt Walsh (0:47)

You print a couple trillion dollars and all of a sudden people start to worry.

SPEAKER_3 (0:50)

So out of this worry, we have something called the Bitcoin.

Matt Walsh (0:54)

Welcome to On The Brink. I'm Matt Walsh.

Nic Carter (0:56)

And I'm Nic Carter.

Matt Walsh (0:57)

Are you having a better week than Jensen Huang right now?

Nic Carter (1:01)

Considerably better.

Matt Walsh (1:02)

Yeah, man.

Nic Carter (1:03)

He was the main character for some time now.

Matt Walsh (1:06)

I guess you're right. His AI is very much like crypto. You can't be the main character.

Nic Carter (1:10)

You can't be the main character. What a tough 48 hours for Jensen Huang.

Matt Walsh (1:16)

That's crazy.

Nic Carter (1:17)

He did bring it upon himself.

Matt Walsh (1:18)

Well, yeah. I mean, as a board, I think you have to have the policy of, like, the first thing we can't have you doing here is selling state secrets or doing deals with China when that's not legal. And the second thing is we definitely can't have you sleeping with a subordinate. And he kind of did both of those things.

Nic Carter (1:38)

I think sleeping with a spy is worse than sleeping with your subordinate. Although he slept allegedly with two subordinates, so that might be collectively as bad.

Matt Walsh (1:50)

Is it up to two? I haven't even seen that.

Nic Carter (1:52)

It's two now. Yeah, third mistress is at the timeline just in the last 20 minutes.

Matt Walsh (1:56)

It's never just one. It never is just one.

Nic Carter (1:58)

I mean, it's almost impressive the amount of time he spent having extramarital affairs. Like, when did he have time to do the chips?

Matt Walsh (2:04)

I don't know.

He built a great business. It's unfortunate that it all came apart. But I guess there's a lot to talk about on this story. The timing of this is very interesting to me.

Nic Carter (2:15)

Very suspicious. I have a lot of conspiracy theories about it.

I don't even know if they're conspiracies. I think we're just putting the pieces together, you know. All right.

Matt Walsh (2:23)

Well, let's hop right into it. I mean, one conspiracy theory out here is that, you know, Jensen was a big proponent of open weight models. He was obviously critical for that part of the ecosystem.

Anthropics going public next week. They have an increasing degree of political influence. And so it was anthropic behind this in some capacity. That's one of the conspiracies.

Nic Carter (2:44)

Yeah, certainly anthropics and Nvidia's interests are opposed. Nvidia wants a thriving ecosystem of different model labs. They don't actually care, strictly speaking, if they're proprietary or open source. They definitely favor open source. Anthropic doesn't want to be held in thrall to Nvidia. Right. Now, did anthropic leak the affairs? Who knows?

The other theory is certainly that there's something suspicious about the timing here with the Democrats winning the midterms. If I had to guess, it'll come out that the China hawks and the administration plus the Democrats in some capacity are working together on this.

Matt Walsh (3:23)

It seems like it was an open secret that he was selling GPUs into these Singapore entities that were aligned with China and that Rubio had alerted the president and there had been Oval Office meetings about this, dating back months. So this seems like it was known for a while.

Nic Carter (3:39)

Well, everybody knew this. You and I knew this, right?

This wasn't secret knowledge, that Nvidia was selling chips to China or to China affiliates. I mean, there's a reason why one third of all these chips are in Southeast Asia.