Ranjan Roy from Margins is back for our weekly discussion of the latest tech news. We cover: 1) Nvidia CEO Jensen Huang's pedestrian performance on the Dwarkesh Podcast 2) Jensen's argument about competing chipmakers 3) Jensen's argument about China export controls 4) What Jensen should've said 5) Why Jensen is in a tough place when he does these interviews 6) Mythos seems real btw 7) Anthropic is talking with the government about a peace deal 8) Alex's interview philosophy 9) Sam Altman's conflicts of interest 10) Are OpenAI investors considering replacing Sam as CEO? 11) Wait, Allbirds is a GPU company now?? Chapters 00:00 Intro 01:04 Jensen's Competition Problem 04:16 Can TPUs & Trainium Threaten Nvidia? 08:14 Nvidia's Real Moat: Capacity 09:14 Jensen's "Loser" Meltdown on Export Controls 14:48 Selling Chips to China vs. National Security 20:22 American vs. Chinese Values in LLMs 26:33 Mythos Cyber Results & Pentagon Thaw 29:47 Is Glasswing Just Marketing? 36:46 Defending the Interview Style 42:33 Sam Altman's Conflicts & a Possible Successor 50:12 Allbirds Pivots to GPUs