Katie and Matt discuss finance book parties, the ICE/Polymarket deal, understanding and pricing the future, the Grossman-Stiglitz paradox, prediction-market spillovers, sports quants, tokenization, the OpenAI/AMD deal, discounting the AI future, AI pricing power, Cathie Wood’s emotional maturity, the ETF ecosystem and the Midnight Madness puzzle hunt.

Key Beast Risk: BMNR, 10%, OLMA
24:44

Embarrassment of Something: IQ, PE, BX
25:48

Horse Pilates: A Mailbag Episode
28:55