Frazis Capital Podcast

00:00 Why this AI cycle feels fundamentally different.03:00 The shift from chatbots to fully autonomous AI agents.07:00 Productivity explodes as software and workflows are built in minutes.11:00 Security risks of AI with full computer access.15:00 AI swarms and large-scale agent coordination emerge.19:00 Hardware, compute, and memory demand return.23:00 Software development accelerates ~100x.27:00 Legacy SaaS and CRM models face disruption.31:00 Market implications and underestimated software risk.35:00 Healthcare, infrastructure, and AI beneficiaries.39:00 Final thoughts on why this moment matters.

00:00 Mike joins from Thailand and reflects on Southeast Asia’s scale, energy and contrasts.02:00 This AI cycle feels fundamentally different after years of incremental updates.04:00 Productivity leaps as AI moves from copy-paste to orchestrating code and workflows.06:30 Recent breakthroughs suggest AI may already be entering a self-improving phase.09:00 Feedback loops from current usage will materially strengthen next-generation models.11:00 FRA Capital is cancelling major SaaS subscriptions and rebuilding tools internally.13:30 Hands-on AI usage is directly influencing investment positioning and sector views.15:30 The shift reinforces semiconductors and compute while pressuring legacy software.17:30 The buy-versus-build decision is swinging sharply toward in-house AI systems.19:30 Wegovy’s PBS listing signals obesity being treated as a serious medical condition.21:00 AI’s role in healthcare diagnostics continues to expand rapidly.22:30 Wrap-up on why the AI capex and compute cycle likely extends further.

0:00 – Intro0:45 – The AI takeoff moment: why early 2026 feels different2:20 – From ChatGPT to agents: the real step-change in capability4:30 – Senior developers don’t write code anymore: time compression explained6:40 – Agent swarms: why one AI is no longer the point8:30 – What’s still broken and why the gaps are closing fast10:10 – Building a diary + memoir app in days, not months12:40 – AI-powered journaling, email prompts & memory extraction14:40 – Investment meetings solved: auto-generating the next 6 questions16:30 – Vibe coding in real time18:20 – Wealth Wise: automating databases people charge fortunes for20:10 – Replacing expert networks: GLG, Tegus & mass-market disruption22:30 – $100k software projects becoming weeks-long builds24:30 – Phase 1 vs Phase 2 AI: new winners, new losers26:40 – Compute demand explodes: why GPUs, power & energy still win28:40 – Software pressure: seats, subscriptions & enterprise risk30:40 – The terminal replaces the IDE: dev tools under threat32:40 – Mark

0:00 – Intro0:42 – Nvidia earnings: strong growth but odd details2:10 – Circular Nvidia deals: inventories, AR and “not-real” revenue4:40 – Retail mania: quantum computing, nuclear & Aussie drone stocks7:05 – When the music stops: 60–80% drawdowns in retail favourites9:05 – NeoClouds explained: ex-Bitcoin miners turned AI GPU landlords12:05 – Hyperscalers, Nvidia vs AMD and why GPU economics may crack14:00 – Gemini 3 vs ChatGPT & other models – real edge or hype?16:40 – How AI tools are changing developer workflows and markets18:20 – Frazis’ quant models, 73.5%/82% returns & trading the rips21:10 – CTA flows, max-long to max-short and a trillion in fast money23:40 – Discretionary stocks smashed: Chipotle, Six Flags, Nike & the consumer25:40 – Current positioning: cash levels, biotech pain & healthcare winners27:55 – Hunting the next leg higher: healthcare and niche AI stocks (Astera Labs, Credo, Nvidia)30:10 – Hims & Hers: stalled growth, GLP-1 price war & DTC disruption (Novo, Lil

Why markets look “fine” but small caps are quietly crashingThe brutal 50 - 60% wipeouts in quantum, nuclear & neo-cloud stocksHow 2025 became a one-way market dominated by AI & semiconductorsAI CapEx, rate expectations, and why headlines are driving everythingOpenAI vs Google Gemini vs Claude, who’s actually winning the AI race?The uncomfortable truth about Nvidia demand and “financed revenue”Neo-clouds explained: why leasing GPUs may signal weakness, not strengthThe looming AI oversupply risk nobody wants to talk aboutWhy hyperscalers (Microsoft, Amazon) always win in compute cyclesHow our risk models cut exposure before major drawdownsShorting as a defensive tools, reducing risk without timing the marketWhy US biotech quietly became one of the best-performing sectorsGLP-1 drugs, oral weight-loss meds & the next healthcare rotationSoftware stocks at cycle lows, where 2–3x upside could emergeWhy fintech and payments keep disappointing investors“Compounder” crashes: Nike, Lululemon & the end of

0:00 – Intro: Mike & Ellianna catch up after Melbourne investor meetings0:45 – Market update: Retail investors driving a red-hot rally2:15 – Quants, institutions, and semiconductors hitting profit targets3:40 – Why Frazis Capital is rotating into healthcare4:30 – Spotlight on Grail: $10B spent chasing a pan-cancer blood test6:10 – The Pathfinder 2 trial and physician skepticism7:40 – FDA approval, adoption challenges, and cash burn9:00 – Clarity Pharmaceuticals: $203M raise and bold head-to-head trial10:40 – Lessons from biotech cycles: Intellia’s 100% rebound12:10 – Quant signals, timing, and managing risk in volatile markets13:40 – Retail euphoria vs. institutional lag — what comes next?15:10 – AI investment boom: data centers, semis, and software plays17:00 – Byrna’s results & the “AI in everything” trend18:20 – When hype meets fundamentals: the AMD-OpenAI deal20:00 – Scaling out, profit-taking, and managing portfolio exposure22:10 – Wrap-up and next week’s preview

00:00 – Intro & welcome to Chris Burns, CEO of Amplia02:00 – Why pancreatic cancer is so deadly & hard to diagnose06:30 – Current treatment options: Gem/Abraxane vs FOLFIRINOX11:20 – Side effects & challenges with chemotherapy15:00 – Why pancreatic cancer is difficult to treat (fibrosis & mutations)19:00 – Amplia’s approach: FAK inhibitors and how they work23:00 – History of FAK inhibitors & Amplia’s drug development story27:00 – ACCENT trial design and early results (response rate, PFS)32:00 – Complete responses & long-term responders (12–18+ months)36:00 – Next steps: Simplicity trial with FOLFIRINOX38:30 – Path to registrational trial & FDA fast track41:00 – Combination opportunities: KRAS inhibitors & ADCs43:00 – Commercial strategy, pricing, partnerships44:30 – Wrap-up & final thoughts

Syntara’s highly anticipated Phase 2 results in myelofibrosis—what the data tells us, why the market sold off, and what might come next in terms of funding or partnership.

Learn more at: www.fraziscapitalpartners.comNvidia’s Q1 PerformanceImpact of the H20 Chip Ban on ChinaMary Meeker: Big Tech CapEx TrendsAutonomous Driving in San Francisco: Waymo vs. UberLidar vs. Vision Debate and Safety ImplicationsLidar Startup Failures and Industry FalloutSpaceX Starship Test Flight & 2026 Mars Launch WindowHumanoid Robots and Potential Economic ImpactAI Attention Economy & ChatGPT vs. Google SearchDeveloper Growth in Google’s EcosystemAWS CapEx Dynamics & Nvidia as Key Beneficiary

HIMS, NU, MELI, AMD & Aussie Biotech

Anteris CEO explains why their new biomimetic heart valve can take serious market share in a $10 billion market. It's currently implanted in over 100 patients, and surgeons are delighted with the results. The market is sleeping on this one...

Mike and Ellianna discuss

#87 - Google earnings, and was that a low in semis and biotech? Mike and Ellianna discuss

Mike and Ellianna discuss the latest market moves.Sections00:00 - US Tariffs and Market Reactions06:35 - Managing Risk12:41 - Opportunities in Tech and Healthcare21:18 - Reddit23:54 - Market Dynamics and Short Selling28:54 - Clarity's Market Position and Future Prospects33:43 - Biotech Sector Valuation and Mispricing35:55 - Interest Rates and Economic Implications39:50 - Future Investment Strategies and Growth Opportunities

00:00 Welcome Back and Market Overview03:05 Navigating the Macro Environment05:59 Company Developments and Fast Track Designations09:11 Short Selling and Market Sentiment12:08 Innovations in PSMA Targeting Agents15:03 Financing Strategies and Market Positioning17:46 Clinical Trials and Sensitivity Improvements21:14 Regulatory Pathways and Market Entry24:00 Future Prospects and Market Dynamics35:30 Market Opportunities and Product Expansion35:59 Advancements in Diagnostics and Treatment39:03 Dose Optimization and Clinical Trials43:59 Patient Responses and Safety Profiles47:02 Future Directions and Phase Three Trials50:59 Navigating the Biotech Landscape52:47 Competitor Analysis and Market Positioning57:57 Innovations in Cancer Treatment

00:00 - Introduction to Radiopharmaceuticals and PSMA03:00 - Current State of PSMA in Prostate Cancer Treatment06:04 - Comparative Analysis: US vs Australia in Radiopharmaceuticals09:02 - Imaging Techniques and Their Impact on Diagnosis12:14 - The Patient Journey: From Diagnosis to Treatment14:56 - Challenges in Sensitivity and Specificity of Imaging17:57 - Post-Treatment Monitoring and Biochemical Recurrence21:09 - Innovations in Radiopharmaceuticals and Future Directions23:57 - Market Dynamics and Regulatory Challenges26:56 - Conclusion and Future of Prostate Cancer Imaging36:05 - Advancements in Targeted Therapies for Prostate Cancer41:12 - The Future of Combination Therapy42:52 - Imaging Innovations in Cancer Detection44:45 - Challenges in Treatment Approval and Reimbursement51:46 - The Role of Multiple Targets in Cancer Therapy54:40 - Exploring New Agents and Their Applications01:00:14 - The Need for Improved Reimbursement Pathways

Equity sell off - the real deal? Strategy update from Michael Frazis

00:0 True Customer Love and Explosive Growth02:05 - Portfolio update04:09 - Hims: A Case Study in True Customer Love and Explosive Growth07:18 - Defining True Customer Love11:33 - The Future of Hims and Market Dynamics in GLP-1sClarity's Fast-Tracked Approval and Market Response27:06 - Short Selling in CU629:59 - If you want to be valued like a US biotech company, you have to be capitalized like one32:10 - Clarity's FDA trial timeline36:33 - Updates from Nubank and MercadoLibre 40:54 - Customer Love and Explosive Growth44:45 - Identifying Explosive Growth Opportunities52:02 - Influence of Tech Leaders on Market Trends59:30 - Long-Term Perspectives on Semiconductor Growth

#82: Ellianna joins to talk DeepSeek, winners and losers, and 2024 in review

Timestamps 00:00 - The Rise of DeepSeek: A Game Changer in AI 02:52 - Impact on Valuations and Capital Expenditure 05:55 - Investment Strategies in 2025 08:52 - Focus on Australian Biotech and Healthcare Takeaways DeepSeek's AI system is a major disruptor in the market. The release of model weights challenges existing AI business models. Investors are reconsidering large investments in foundational models. Apple and AWS may benefit from the efficiency of DeepSeek's model. Semiconductor investments are highly cyclical and risky. Startups may struggle to secure funding in a downturn. Australian biotech presents interesting investment opportunities. Clarity Pharmaceuticals is a notable player in the biotech space. The Australian market is underperforming compared to Wall Street. Government hiring is impacting the private sector's performance. titles DeepSeek, AI, investment, market impact, semiconductor, Australian biotech, valuations, data centers, technology, healthcare