$2B Allergy Drug, ChatGPT Ads, Mansion Section | Billy Boman, Benjamin Miller, Faris Sbahi, Evan Loomis, Anvisha Pai, Ryan Tseng

March 27, 2026

AI Summary

5 min read

The TBPN episode covers a diverse set of updates, from a major biotech acquisition signaling AI's role in pharma to leaks on Anthropic's new model amid compute constraints, alongside funding announcements in defense tech, AI tools, and venture funds. Interviews highlight practical AI applications in creative production and investing, with lighter notes on real estate trends.

Biotech Acquisition and AI Efficiency in Pharma

Novartis acquired XLRG, a five-year stealth biotech firm, for $2 billion after its Phase 1 trials for EXL111, an improved allergy drug targeting IgE to outperform blockbuster Zolair ahead of patent expiry. The deal, structured with upfront cash and milestones, follows a classic playbook: university research (Stanford, Bern labs) seeded by specialist VCs like Red Tree and Samsara BioCapital, plus serial CEO Todd Zavodnik's track record of $2.4B and $1.2B exits. It extends Novartis's immunology portfolio, where Zolair generated $1.7B in 2025 sales.

Pharma's AI adoption accelerates non-glamorous tasks like combing 10,000-page FDA docs, supply chain validation, IP reviews, and programmatic edits on Word files—saving days per submission without direct FDA lines. Novo Nordisk exemplifies this, shortening trials via agents; it's a leading indicator as revenue-focused firms rarely hype unproven narratives.

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What you'll learn

1 `(00:00)` **🎙️ Introduction: Billy Bowman**
2 `(01:46)` **XLRG Acquisition by Novartis**
3 `(11:05)` **Anthropic Mythos Model Leak**
4 `(15:16)` **AI Compute Crunch and Limits**
5 `(24:07)` **Anthropic Wins Injunction vs. Pentagon**
6 `(28:38)` **Mansion Global: Luxury Real Estate**
7 `(50:45)` **Drew Barrymore Flips Westchester Mansion**

+ Full timestamped outline available in the app

Show Notes

(06:33) - Novartis to Buy Excellergy for $2B
(15:44) - 𝕏 Timeline Reactions
(28:48) - Anthropic Stories
(37:46) - Mansion Section
(59:03) - Billy Boman, an AI visual creator and educator, discusses his journey from a creative upbringing and formal design education to roles in fashion and tech, culminating in his current focus on AI-driven content creation. He highlights his work on high-profile projects, including AI-generated commercials and music videos, and emphasizes the transformative impact of AI on the creative industry. Boman also shares insights into his teaching role at Berghs School of Communication, where he integrates AI tools into the curriculum to prepare students for the evolving landscape of digital storytelling.
(01:32:07) - Benjamin Miller, co-founder and CEO of Fundrise, discusses the company's mission to democratize real estate investing through technology, making high-quality investments accessible to a broader audience. He highlights the recent public listing of the Fundrise Innovation Fund (VCX) on the New York Stock Exchange, emphasizing its role in providing investors with exposure to private technology companies. Miller also elaborates on Fundrise's strategic approach to venture capital, focusing on building relationships with top private companies and leveraging their extensive customer base to add value beyond capital investment.
(01:53:27) - Faris Sbahi, Founder and CEO of Normal Computing, discusses how his company collaborates with leading semiconductor firms to design custom silicon and is developing ultra-efficient ASICs focused on energy efficiency. He highlights the industry's shift towards heterogeneous computing, emphasizing the need for specialized chips tailored to specific workloads, and introduces thermodynamic computing as a novel approach to enhance energy efficiency in AI workloads. Sbahi also announces a $50 million accelerator round led by Samsung to further these initiatives.
(02:00:18) - Evan Loomis, General Partner at Overmatch Ventures and co-founder of ICON, discusses the firm's recent $250 million fund closure aimed at investing in deep tech, defense, and space sectors, with plans to build a concentrated portfolio of approximately 25 companies. He emphasizes the urgency for the U.S. to lead in critical technologies like artificial intelligence and advanced defense systems, expressing confidence in the nation's innovative capacity despite current challenges. Loomis also highlights ICON's achievements, including 3D-printing the first home in the U.S. and collaborating with NASA to construct a lunar habitat.
(02:08:58) - Anvisha Pai, founder and CEO of Moda, discusses the launch of Moda, an AI design tool that enables non-designers to create fully editable slides, social graphics, and landing page mockups. Unlike other AI design tools, Moda