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The Real Eisman Playbook · October 2026
Steve Eisman floated a theory that AI labs stoke fear to get regulation they can shape into a duopoly. Marcus says that is "almost their job to think about," and lays out his view of what OpenAI's CEO wants. He adds that there's evidence Anthropic's CEO may think the same way.
not to be nervous. I'm
nervous. So maybe if I create enough hysteria, I can create regulation, and then I can manipulate the regulation so that I can basically foster a duopoly. Oh,
you're regulation. For sure. They have to be thinking about that. I mean, that's, you know, that's almost their job to think about that. Right. Right. And I, Dario, we never got there is more complicated in a way than Sam. Sam is always looking for an angle. He's always looking for a deal. He's always looking for a regulatory spin. Like, of course, Sam is thinking about how can I get the regulation to land where I want. I mean, you know, Sam's roadmap has got to be, number one, have no regulation. And although he told the Senate at one point when I was there that he liked regulation, he's done all kinds of lobbying against any actual or watering down or whatever. So, you know, his top choice is no regulation. His second choice is very weak regulation that doesn't impair him. And his third choice is regulation that cuts the ladder so no one else can compete with him. And Dario clearly seems to, well, how do I say that carefully? There's a lot of evidence to suggest that maybe Dario is thinking about things in the same way.
Okay. Let's finish up with you flew in yesterday for an event at the UN.
Yeah, a couple of days ago.
And why don't you tell us about it? And you made a speech. Why don't you tell us a little bit about that and just share what happened?