No Priors: Artificial Intelligence | Technology | Startups

In this episode of No Priors, Sarah and Elad explore how AI is transforming consumer apps and entertainment, with a focus on potential integrations in gaming and dating that could shift traditional societal incentives. They reflect on AI researchers winning Nobel Prizes in Science and Chemistry for the first time, discussing what this trend means for scientific discovery. The episode also covers recent AI releases, including their thoughts on OpenAI’s O1 model and Google’s NotebookLM, and examines which companies and job functions are most at risk—or resilient—in the face of AI advancements. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil  Show Notes:  (0:00) Introduction (0:47) Google releases NotebookLM  (5:20) Integrating AI into consumer apps and gaming (9:11) Future of AI companionship and procreation (14:45) OpenAI o1 model improves on iterative reasoning (18:06) Sarah and Elad reflect on Nobel Prizes going to AI researchers (21:23) Jobs and businesses at risk of disruption (27:18) AI-durable companies

This week on No Priors, Sarah and Elad talk with GitHub CEO Thomas Dohmke about the rise of AI-powered software development and the success of Copilot. They discuss how Copilot is reshaping the developer workflow, GitHub’s new Agent Mode, and competition in the developer tooling market. They also explore how AI-driven coding impacts software pricing, the future of open source vs. proprietary APIs, and what Copilot’s success means for Microsoft. Plus, Thomas shares insights from his journey growing up in East Berlin and navigating rapidly changing worlds. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @ThomasDohmke Show Notes: 0:00 Introduction 0:37 GitHub Copilot’s capabilities 4:12 Will agents replace developers? 6:04 Copilot’s development cycle 8:34 Winning the developer market 10:40 Agent mode 13:25 Where GitHub is headed 16:45 Building for the new challenges of AI 21:50 Dev tools market formation 29:56 Copilot’s broader impact 32:17 How AI changes software pricing 39:16 Open source vs. proprietary APIs 48:01 Growing up in East Berlin

This week on No Priors, Sarah is joined by Dan Hendrycks, director of the Center of AI Safety. Dan serves as an advisor to xAI and Scale AI. He is a longtime AI researcher, publisher of interesting AI evals such as "Humanity's Last Exam," and co-author of a new paper on National Security "Superintelligence Strategy" along with Scale founder-CEO Alex Wang and former Google CEO Eric Schmidt. They explore AI safety, geopolitical implications, the potential weaponization of AI, along with policy recommendations. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @DanHendrycks Show Notes: 0:00 Introduction 0:36 Dan’s path to focusing on AI Safety 1:25 Safety efforts in large labs 3:12 Distinguishing alignment and safety 4:48 AI’s impact on national security 9:59 How might AI be weaponized? 14:43 Immigration policies for AI talent 17:50 Mutually assured AI malfunction 22:54 Policy suggestions for current administration 25:34 Compute security 30:37 Current state of evals

This week on No Priors, Sarah sits down with Noubar Afeyan, Co-founder and CEO of Flagship Pioneering, the biotech firm behind groundbreaking companies like Moderna. They explore how Flagship creates the conditions for scientific breakthroughs, tackles regulatory uncertainty, and pushes the boundaries of discovery. Noubar shares insights on AI’s role in healthcare, the challenges of bringing new therapies to market, and lessons learned from past pandemics. He also discusses Flagship’s platform approach to biotech innovation and introduces the idea of polyintelligence. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @NoubarAfeyan Show Notes:  0:00 Introduction 0:48 Founding Flagship  5:51 Fostering environments for emergence 11:17 Expanding into new frontiers 14:26 Developing technology amid regulatory uncertainty and risk 19:12 How Flagship has evolved 22:47 AI applications in healthcare 27:30 Bottlenecks in bringing new therapies to market 32:20 Lessons for the next pandemic 34:11 Building a platform 38:10 Polyintelligence

On this week’s episode of No Priors, Sarah Guo is joined by leading members of the teams at Vevo Therapeutics and the Arc Institute – Nima Alidoust, CEO/Co-Founder at Vevo Therapeutics; Johnny Yu, CSO/Co-Founder at Vevo Therapeutics; Patrick Hsu, CEO/Co-Founder at Arc Institute; Dave Burke, CTO at Arc Institute; and Hani Goodarzi, Core Investigator at Arc Institute. Predicting protein structure (AlphaFold 3, Chai-1, Evo 2) was a big AI/biology breakthrough. The next big leap is modeling entire human cells—how they behave in disease, or how they respond to new therapeutics. The same way LLMs needed enormous text corpora to become truly powerful, Virtual Cell Models need massive, high-quality cellular datasets to train on. In this episode, the teams discuss the groundbreaking release of the Tahoe-100M single cell dataset, Arc Atlas, and how these advancements could transform drug discovery. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @Nalidoust | @IAmJohnnyYu | @PDHsh | @Davey_Burke | @Genophoria Download the Tahoe Dataset Show Notes: 0:00 Introduction 1:40 Significance of Tahoe-100M dataset 4:22 Where we are with virtual cell models and protein language models 10:26 Significance of perturbational data 17:39 Challenges and innovations in data collection 24:42 Open sourcing and community collaboration 33:51 Predictive ability and importance of virtual cell models 35:27 Drug discovery and virtual cell models 44:27 Platform vs. single hypothesis companies 46:05 Rise of Chinese biotechs 51:36 AI in drug discovery

Kyle Vogt joins Sarah and Elad on this week’s episode of No Priors. A serial entrepreneur, Kyle co-founded Twitch, transforming live streaming, and later Cruise, the autonomous vehicle company acquired by GM for $1 billion. Now he’s taking on AI-powered home robotics with The Bot Company. In this episode, Kyle shares his journey building transformative tech companies, the challenges of scaling autonomous systems, and why he believes home robots are the next frontier. They also discuss the parallels between AVs and robotics, overcoming consumer skepticism, US vs. China manufacturing, and the policies needed to foster a competitive robotics industry. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @KVogt Show Notes:  0:00 Introduction 0:29 Founding Cruise  3:12 Tesla vs. Waymo approach 4:44 Scaling autonomous vehicles 10:03 The Bot Company  16:35 Deploying  robots in the home 17:56 Parallels between robots and AV markets 20:51 Personifying robots and overcoming consumer skepticism 25:00 Timeline on consumer robots 26:47 Chinese vs. US manufacturing  29:15 Fostering a competitive domestic robotics industry 34:00 Lessons from Cruise & personal philosophies

This week on No Priors, Sarah sits down with Harvey cofounder and CEO Winston Weinberg. Harvey is one of the leading application layer AI companies, building domain-specific AI for law firms, professional service providers, and the Fortune 500. They are already working with companies like Bridgewater, KKR, PWC, and O’Melveny with over $500M in funding from OpenAI, Sequoia, Kleiner, GV and Elad and Sarah. In this episode, Sarah and Winston cover AI product strategy, the future of professional services, company values, keeping up with research, and the law industry of the future.  Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @WinstonWeinberg Show Notes:  0:00 Introduction 2:39 Harvey’s founding story  3:46 Capability improvement 6:39 Building teams around AI capabilities 9:17 End to end task completion 12:37 Beginning with large industry leaders 17:21 Working with users skeptical of automation 20:40 Being a lawyer today and in the future 26:02 Adapting product for other domains 26:58 Hiring philosophy at Harvey 30:39 Lessons and mistakes as a founder 32:53 Personal drive 40:21 Advice to other founders 44:35 Prediction for next ChatGPT moment

This week on No Priors, Sarah and Elad celebrate the 100th episode! They dive into the biggest AI stories of 2025, breaking down DeepSeek—truth vs. hype, the rapid consumer adoption, and the real cost of training the models. They debate model commoditization and the value of being a frontier model provider vs. building on existing work. Plus, they unpack OpenAI’s new Deep Research release and the latest on Stargate. Finally, they share bold predictions for 2025, covering robots, autonomous vehicles, local AI models, emerging data-generation strategies, and reasoning breakthroughs. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil  Show Notes:  0:00 Introduction 0:19 DeepSeek  5:38 Are models commoditizing? 8:33 DeepSeek’s consumer adoption 9:16 OpenAI’s Deep Research release 13:30 Stargate 15:04 Elad & Sarah’s Predictions for 2025

This week on No Priors, Elad sits down with Rick Caruso, LA real estate developer and runner-up in the 2022 mayoral race. With experience serving under three LA mayors, as well as on the police commission and the board of water and power, Rick offers a unique perspective on the systemic failures that contributed to the devastation of the January 2025 wildfires in communities like the Palisades and Altadena. He discusses the steps he took to build more resilient infrastructure in his properties and how California can rebuild smarter to better prepare for future disasters. They also explore the state’s water management, rising crime, and how to leverage California’s vast natural resources and budget to create a better future for all residents. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @RickCarusoLA Show Notes 0:00 Introduction 0:56 Caruso’s history in business and public service 3:36 Failures in fire prevention and response 5:58 How Caruso’s properties survived  8:26 Water shortages and infrastructure failures  9:47 Arson, looting, and crime in LA 15:03 Rebuilding  20:50 Allocating California’s resources effectively 26:15 Caruso’s future plans

This week on No Priors, Sarah and Elad sit down with Bill Clerico, founder of Convective Capital, an early stage venture fund focused on technology-driven solutions for wildfire mitigation and climate resilience. The wildfires in Los Angeles have caused unprecedented property damage and immense hardship for countless individuals and families. This episode is devoted to diving into understanding what happened and what we can do in the future. Bill shares his insights into the increasing severity of wildfires, the role of policy, and how infrastructure issues, like outdated building codes and underfunded utilities, are contributing to the crisis. They discuss the latest innovations in fire-fighting technology, from advanced detection to drones, and how these tools can help mitigate future damage. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @BillClerico Show Notes:  0:00 Introduction 1:02 Why are wildfires getting worse? 5:37 Policies and regulatory decisions 10:47 Housing: building codes and permitting 13:19 Key factors in response 16:20 Improving water supply and city infrastructure  19:10 Preventing wildfires 21:26 Underinvestment in California’s utilities 26:53  Innovative fire fighting technology 29:35 Accelerating Los Angeles’ recovery 34:29 Actions homeowners, insurance companies, and governments can take

Today on No Priors, co-founder and CEO of Decagon, Jesse Zhang, joins Elad to discuss the future of agentic customer support. Decagon provides AI-powered customer interactions for companies like Rippling, Notion, Duolingo, Classpass, Substack, Vanta, Eventbrite, and more. Jesse shares the thesis behind starting Decagon, why he sees customer support as the ideal entry point for agentic technology, and what areas of AI excite him most. They also discuss voice-based interfaces, issues with latency in current capabilities, and the connection between young math olympiad communities and today’s AI startups. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @TheJesseZhang Show Notes:  0:00 Introduction  0:30 Starting Decagon  3:15 Business impact of adopting agents for customer support and customer ops 8:00 AI infrastructure and models for customer success agents 12:05 Voice-based capabilities and text-to-speech engines  15:00 Combatting latency  16:25 Crossover of math and AI communities 21:12 Exciting areas of AI  25:29 Strengths and weaknesses of agents

Today on No Priors, Elad chats with Erik Bernhardsson, founder and CEO of Modal Labs, a platform simplifying ML workflows by providing a serverless infrastructure designed to streamline deployment, scaling, and development for AI engineers. Erik talks about his early work on Spotify’s ML algorithms, what Modal offers today, and his vision for building an end-to-end solution for AI engineers. They dive into GPU trends, cloud vs on-premise setups, and when to train custom models vs use off-the-shelf solutions. Erik also shares his thoughts on the evolving role of AI in fields like coding, physics, and music. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @Bernhardsson Show Notes: 0:00 Introduction  0:22 Erik's early interest in ML infra 1:22 Founding Modal Labs  4:17 State of GPU use today and what’s to come 7:14 Modal's end-to-end vision  9:00 Differentiating amongst competition 10:20 Cloud vs on-premise  12:35 Popular AI models  13:20 Gaps in AI infrastructure 14:55 Insights on vector databases  16:48 Training models vs off-the-shelf models  17:47 AI’s impact on coding and physics 22:14 AI's impact on music

2024 has been a year of transformative technological progress, marked by conversations that have reshaped our understanding of AI's evolution and what lies ahead. Throughout the year, Sarah and Elad have had the privilege of speaking with some of the brightest minds in the field. As we look back on the past months, we’re excited to share highlights from some of our favorite No Priors podcast episodes. Featured guests include Jensen Huang (Nvidia), Andrej Karpathy (OpenAI, Tesla), Bret Taylor (Sierra), Aditya Ramesh, Tim Brooks, and Bill Peebles (OpenAI’s Sora Team), Dmitri Dolgov (Waymo), Dylan Field (Figma), and Alexandr Wang (Scale). Want to dive deeper? Listen to the full episodes here: NVIDIA's Jensen Huang on AI Chip Design, Scaling Data Centers, and his 10-Year Bet No Priors Ep. 89 | With NVIDIA CEO Jensen Huang  The Road to Autonomous Intelligence, With Andrej Karpathy from OpenAI and Tesla No Priors Ep. 80 | With Andrej Karpathy from OpenAI and Tesla Transforming Customer Service through Company Agents, with Sierra’s Bret Taylor No Priors Ep. 82 | With CEO of Sierra Bret Taylor OpenAI’s Sora team thinks we’ve only seen the "GPT-1 of video models" No Priors Ep.61 | OpenAI's Sora Leaders Aditya Ramesh, Tim Brooks and Bill Peebles Waymo’s Journey to Full Autonomy: AI Breakthroughs, Safety, and Scaling No Priors Ep. 87 | With Co-CEO of Waymo Dmitri Dolgov Designing the Future: Dylan Field on AI, Collaboration, and Independence No Priors Ep. 55 | With Figma CEO Dylan Field The Data Foundry for AI with Alexandr Wang from Scale No Priors Ep. 65 | With Scale AI CEO Alexandr Wang Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil Show Notes: 0:00 Introduction  0:15 Jensen Huang on building at data-center scale  4:00 Andrej Karpathy on the AI exo-cortex, model control, and a shift to smaller models  7:14 Bret Taylor on the agentic future of business interactions  11:17 OpenAI’s Sora team on visual models and their role in AGI  15:53 Waymo’s Dmitri Dolgov on bridging the gap to full autonomy and the challenge of 100% accuracy  19:00 Figma’s Dylan Field on the future of interfaces and new modalities  23:29 Scale AI’s Alexandr Wang on the journey to AGI  26:29 Outro

Today on No Priors, Sarah sits down with Elias Torres, CEO and founder of Agency, an AI agent for customer success teams. Elias shares his journey from growing up in Nicaragua to founding several companies, leading engineering at HubSpot, and selling Drift for $1B. He also discusses his work consulting with OpenAI in 2022, which deepened his understanding of the business opportunity LLMs presented and inspired him to start Agency. In this episode, Elias offers a unique perspective on the future of AI and customer success, explaining how current software has fallen short and his vision for a new generation where customers have direct relationships, spend less time on tasks, and have software working invisibly on their behalf. They also discuss the evolving landscape of hiring as teams shrink, and Elias reveals his ambitious plan to reach $1B in revenue with fewer than 100 employees. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @EliasT  Show notes: 0:00 Introduction 0:34 Elias’ journey to entrepreneurship 2:36 Growing HubSpot to IPO and founding Drift 6:19 Consulting with OpenAI, learning about LLMs, and diving into AI 9:35 Founding Agency to focus on customer success and AI-driven solutions 11:40 What will a customer experience look like in 5 years? 15:48 Company building in an era of AI, as a 5th time founder 18:32 Reducing headcount while raising the bar on hiring 20:35 Key challenges in building Agency and crafting a standout product 23:06 Addressing software flaws and transitioning to an era of intuitive, self-operating solutions 26:27 Timeline for the next-gen software revolution + the power of building from first principles

In this episode of No Priors, Sarah sits down with Felix Ejeckam and Ty Mitchell, founders of Akash Systems, a company pioneering diamond-based cooling technology for semiconductors used in space applications and large-scale AI data centers. Felix and Ty discuss how their backgrounds in materials science led them to tackle one of the most pressing challenges in tech today: thermal efficiency and heat management at scale. They explore how Akash is overcoming the limitations of traditional semiconductors and how their innovations could significantly boost AI performance. Felix and Ty also talk about their collaboration with India’s sovereign cloud provider, the importance of strengthening U.S. manufacturing in the AI chip market, and the role Akash Systems could play in advancing satellite technologies. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil |@AkashSystems | @FelixEjeckam Show Notes: 0:00 Introduction 0:30 What is Akash Systems? 2:12 Felix’s personal path to building Akash Systems 4:45 Ty’s approach to acquiring customers 6:40 Challenges of operating in space 7:54 Live demo on diamond’s conductivity 9:50 Heat issues in data centers 15:38 Heat as a fundamental limit to technological progress 20:44 Akash’s role in the semiconductor market 22:54 Growing diamonds 25:10 Collaborating with India’s sovereign cloud provider 28:15 Importance of American manufacturing for AI chips and outlook on current data capacity  29:45 The Chips Act 31:22 Future of national security lies in satellite and radar tech 32:46 Critical issues in the U.S. AI supply chain 36:34 Deep learning’s role in material science discovery 40:16 The future: AI expanding our possibilities

In this episode of No Priors, Sarah talks with Eric Simons, co-founder and CEO of StackBlitz. The company has experienced explosive growth since the launch 2 months ago of Bolt.new, an AI application that lets users prompt, run, edit, and deploy full-stack applications directly in the browser. Eric talks about the years-long journey that led to overnight success, why so many non-technical users are forming a community around Bolt, and the democratization of coding. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @EricSimons40 Show Notes: 0:00 Introduction 0:36 Bolt.new 2:04 How Bolt stands out from other coding assistants 3:28 Building beyond ChatGPT wrappers 6:13 Driving growth through community 9:42 Evals 13:29 Eric’s favorite use cases and startups leveraging Bolt 17:10 Why engineers are embracing no- code tools 24:32 The years long journey of StackBlitz 31:50 Balancing an Ironman, a newborn, and a product launch 35:18 Predictions for developers and code generation tools

In this episode of No Priors, Sarah is joined by Aidan Gomez, cofounder and CEO of Cohere. Aidan reflects on his journey to co-authoring the groundbreaking 2017 paper, “Attention is All You Need,” during his internship, and shares his motivations for building Cohere, which delivers AI-powered language models and solutions for businesses. The discussion explores the current state of enterprise AI adoption and Aidan’s advice for companies navigating the build vs. buy decision for AI tools. They also examine the drivers behind the flattening of model improvements and discuss where large language models (LLMs) fall short for predictive tasks. The conversation explores what the market has yet to account for in the rapidly evolving AI ecosystem, as well as Aidan’s personal perspectives on AGI—what it might look like and when it could arrive. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @AidanGomez Show Notes: 0:00 Introduction 0:36 Co-authoring “Attention is all you need” 2:27 Leaving Google and founding Cohere 4:04 Cohere’s mission and models 6:15 Pitfalls of current AI  8:14 How enterprises are deploying AI today 10:58 Build vs. buy strategy for AI tools 14:37 Barriers to enterprise adoption  20:04 Which types of companies should pretrain models? 24:25 Addressing flaws in open-source models 25:12 Current and expected progress in scaling laws 29:54 Advances in multi-step problem solving and reasoning 32:29  Key drivers behind the flattening curve of model improvements  36:25 Exploring AGI 39:59 Limitations of LLMs 42:10 What the market has mispriced

In this week’s episode of No Priors, Sarah and Elad sit down with the Google DeepMind team behind AlphaProof, Laurent Sartran, Rishi Mehta, and Thomas Hubert. AlphaProof is a new reinforcement learning-based system for formal math reasoning that recently reached a silver-medal standard in solving International Mathematical Olympiad problems. They dive deep into AI and its role in solving complex mathematical problems, featuring insights into AlphaProof and its capabilities. They cover its functionality, unique strengths in reasoning, and the challenges it faces as it scales. The conversation also explores the motivations behind AI in math, practical applications, and how verifiability and human input come into play within a reinforcement learning approach. The DeepMind team shares advice and future perspectives on where math and AI are headed.  Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @Rishicomplex | @LaurentSartran | @ThomasHubert Show Notes:  0:00 Personal introductions 2:19 Achieving silver medal in IMO competition 3:52 How AlphaProof works 5:56 AlphaProof’s strengths within mathematical reasoning 8:56 Challenges in scaling AlphaProof 13:40 Why solve math? 17:50 Pursuing knowledge versus practical applications 21:30 Insights on verifying correctness within reinforcement learning 28:27 How AI could foster more collaboration among mathematicians 30:28 Surprising insights from AI proof generation 34:17 Future of math and AI: advice for math enthusiasts and researchers

In this week’s episode of No Priors, Sarah and Elad sit down with Jensen Huang, CEO of NVIDIA, for the second time to reflect on the company’s extraordinary growth over the past year. Jensen discusses AI’s takeover of datacenters and NVIDIA’s rapid development of x.AI’s supercluster. The conversation also covers Nvidia’s decade-long infrastructure bets, software longevity, and innovations like NVLink. Jensen shares his views on the future of embodied AI, digital employees, and how AI is transforming scientific discovery. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @Nvidia Show Notes:  00:00 Introduction 1:22 NVIDIA's 10-year bets 2:28 Outpacing Moore’s Law 3:42 Data centers and NVLink 7:16 Infrastructure flexibility for large-scale training and inference  10:40 Building and optimizing data centers  13:30 Maintaining software and architecture compatibility  15:00 X.AI’s supercluster  18:55 Challenges of super scaling data centers 20:39 AI’s role in chip design  22:23 NVIDIA's market cap surge and company evolution  27:03 Embodied AI 28:33 AI employees 31:25 Impact of AI on science and engineering  35:40 Jensen’s personal use of AI tools

In this week’s episode of No Priors, Sarah sits down with Tarek Mansour, CEO of Kalshi—the first CFTC-regulated prediction market exchange in the U.S. They dive into Kalshi’s recent victory to legalize election betting, explore ethical questions around trading on elections, and discuss whether prediction markets can offer more accuracy than traditional polls. Tarek shares insights on the history of futures markets, the line between gambling and financial trading, and the psychology behind betting. Plus, Sarah makes a live election bet, and Tarek reveals some of Kalshi’s most intriguing markets. Sign up for new podcasts every week. Email feedback to show@no-priors.com Follow us on Twitter: @NoPriorsPod | @Saranormous | @EladGil | @MansourTarek Show Notes:  0:00 Introduction 1:22 Sarah makes a live election bet on Kalshi 3:35 Getting approved and regulated by CFTC 5:48 Going up against the CFTC to legalize election betting 7:21 Debating the ethics of trading on elections 8:12 Gambling vs. trading  9:12 Context and purpose of futures markets 12:38 The human psychology behind speculating /Humans conditioned to risk taking 17:17 Building a healthy exchange and scaling liquidity  19:30 Introducing leverage and working with clearinghouses 22:29 Polls vs. prediction markets 24:59 Conditional markets 26:38 What makes Kalshi’s markets accurate 31:29 Tarek’s insights on the most interesting trades and markets on the platform