Jason predicts a “major M&A moment” in the next six months! | E2213
This Week in Startups
Jason Calacanis
4.4 • 1.3K Ratings
🗓️ 22 November 2025
⏱️ 56 minutes
🧾️ Download transcript
Summary
Register here to join Founder University Japan’s kickoff: https://luma.com/cm0x90mk
Today’s show:
Google and Meta had their cases dismissed (or received a slap on the wrist)… Despite all the backlash and cynicism, AI companies continue making bank and releasing hot new products… What does it all mean?
For Jason Calacanis, the signs are pointing to a “major M&A moment,” with huge opportunities for increased efficiency and consolidation among America’s favorite brands and largest companies?
Who will it be? Join Jason and Alex for a round of hot speculation.
PLUS why Jason thinks Michael Burry is both right and wrong about GPU depreciation, why NOTHING is certain about these OpenAI mega-deals, Google’s Nano Banana Pro can make infographics and they’re VERY impressive… and much more.
Timestamps:
(1:54) Jason’s calling in from Vegas… He’s doing a hot lap at F1!
(3:18) How restaurants are becoming the new Hot IP
(6:50) Founder University is heading to TOKYO!
(9:27) Why Jason thinks the future of startups is truly global
(10:06) Pipedrive - Bring your entire sales process into one elegant space. Get started with a 30 day free trial at pipedrive.com/twist
(11:39) Nvidia killed it on the numbers… but what are the vibes around AI? Jason sounds off.
(13:05) Why nothing is certain when it comes to the Nvidia/OpenAI deal
(19:40) Is Google now WINNING consumer adoption of AI? How did it get this close?
(19:57) Crusoe Cloud: Crusoe is the AI factory company. Reliable infrastructure and expert support. Visit https://crusoe.ai/build to reserve your capacity for the latest GPUs today.
(26:07) Meanwhile, AI apps are still dominating the iOS Store
(27:09) Why Jason and Alex think Michael Burry’s both right and wrong about GPU depreciation
(30:13) Northwest Registered Agent - Form your entire business identity in just 10 clicks and 10 minutes. Get more privacy, more options, and more done—visit https://www.northwestregisteredagent.com/twist today!
(37:46) We’re testing out Nano Banana Pro on a BBQ infographic challenge
(43:42) What a week for AI models! It doesn’t seem like things are slowing down…
(46:12) Kalshi is growing fast, but can it catch Polymarket?
(47:50) Is a rate cut coming? Jason and Alex read the tea leaves.
(50:13) Why Jason predicts a “major M&A moment” in the next six months
(52:09) VIEWER QUESTION: What should a software engineer be working on RIGHT NOW.
(54:02) Founder Friday is now… STARTUP SUPPER CLUB
Subscribe to the TWiST500 newsletter: https://ticker.thisweekinstartups.com
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Follow Alex:
LinkedIn: https://www.linkedin.com/in/alexwilhelm
Follow Jason:
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
Thank you to our partners:
(10:06) Pipedrive - Bring your entire sales process into one elegant space. Get started with a 30 day free trial at pipedrive.com/twist
(19:57) Crusoe Cloud: Crusoe is the AI factory company. Reliable infrastructure and expert support. Visit https://crusoe.ai/build to reserve your capacity for the latest GPUs today.
(30:13) Northwest Registered Agent - Form your entire business identity in just 10 clicks and 10 minutes. Get more privacy, more options, and more done—visit https://www.northwestregisteredagent.com/twist today!
Great TWIST interviews: Will Guidara, Eoghan McCabe, Steve Huffman, Brian Chesky, Bob Moesta, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
Check out Jason’s suite of newsletters: https://substack.com/@calacanis
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Substack: https://twistartups.substack.com
Transcript
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| 0:00.0 | If that's happening every two to three years, that means theoretically that you might buy more of them. |
| 0:05.7 | But that does not mean that you're throwing the old ones away. That's ludicrous. |
| 0:10.5 | That would be like saying I had a Corvette C7 and the C8, eighth generation came out. |
| 0:15.6 | So I took the C7 and I parked it in the garage and yeah, they just took the air out of the tires and the battery and I put it on a cinderbox and that's it's over. That car can't be used ever. It's got 30,000 miles on it. That car is going to be driven for another 10 years. What are we talking about here? It's not that egregious to think that Oracle believed in 2020 that they would get five years of life out of one of this depreciating assets. Then, you know, the next three years, they said, yeah, it's still five. And then in 2024, they said, you know what, we think it's six. And the Microsoft One is more dramatic. It goes from three years of useful life to six. So they doubled. But everybody's winding up at five and a half, six, six, six, six. And the year before, it was four and a half six six six six. So Amazon brought it down a year. |
| 0:57.2 | These are all kinds. but everybody's winding up at 5.5-6665. And the year before, it was 4.5-666666. So |
| 0:55.4 | Amazon brought it down a year. These are all kind of within 30 percent, right? |
| 1:00.8 | This Weekend Startups is brought to you by Northwest Registered Agent. Starting your business |
| 1:06.1 | should be simple. With Northwest Registered Agent, you can form your entire business identity in just 10 clicks |
| 1:12.1 | and 10 minutes. From LLCs to trademarks, domains to custom websites, they have got you covered. |
| 1:18.3 | Get more privacy, more options, and more done. Visit Northwest Registeragent.com slash twist today. |
| 1:25.9 | Crusoe Cloud. Cruceau is the AI factory company, reliable infrastructure and expert support. |
| 1:32.0 | Visit cruso. |
| 1:32.7 | com to reserve your capacity for the latest GPUs today. |
| 1:37.7 | And pipe drive. |
| 1:39.1 | Bring clarity and control to your sales process with pipe drive. |
| 1:42.4 | The number one CRM for small and medium-sized businesses. |
| 1:46.0 | Supercharge your sales today. Start with a 30-day free trial, PipeDrive.com slash twist. |
| 1:53.9 | All right, everybody, welcome back to this week in startups. I'm your host, Jason Callaghanis, |
| 1:57.4 | here with me, Alex Wilhelm again again. And I am in Vegas. |
| 2:00.9 | If you're watching the video on YouTube or Spotify, I'm in my suite at the Venetian. |
| 2:05.7 | Thanks to my friends at the Venetian for their hospitality. |
| 2:09.4 | I'm here for F1 with the All In podcast doing, I'm going to do a hot lap. |
... |
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