This week's More or Less got heated. Jess said she'd rather send our kids to the military than to a16z's new university. Brit's take: the $35M 'school' is a marketing spend — top-of-funnel to sign founders before they're 19. I'm all for burning down broken higher ed, but an advisory page of Altman and Murati is not a substitute for education. Fight me. Also: a Blackstone exec at The Information's AI summit got asked point blank who pays back all the data center debt. Answer: 'We don't know.' Not embarrassed. Just where we are in the cycle. Jess nailed the deeper problem — the AGI trade is the St. Petersburg paradox. If you sell an infinite payout, there is no price you can't justify. Now the story is quietly becoming 'AGI is gradual'... conveniently after AGI clauses got written into billion-dollar agreements because deals were moving too fast to do anything else. Infinite demand ≠ infinite margins. Calculations aren't valuable just because you consume more of them. Oh — and Mazzeo claims GLP-1 revenue now rivals AI revenue. Ep 168 is up.