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XBOX Layoffs, "Manual" Ferrari, Circle K Lottery Dispute | Baiju Bhatt, Daniel English, Michele Catasta

July 6, 2026

AI Summary

5 min read

Xbox Cuts Deep, Ferrari Goes Manual, and a $13 Million Lottery Ticket Sparks a Three-Way Legal Fight

The July 6th episode of TBPN opened with a striking admission from Xbox's new CEO Asha Sharma: the gaming division is not healthy. In a candid internal memo, Sharma announced 3,200 layoffs by the end of fiscal year 2027, with 1,600 taking effect immediately. Unlike nearly every other major tech layoff in recent memory, this one was not blamed on AI-driven productivity gains. Instead, Sharma laid out a series of operational failures: Xbox operates at margins three to ten times lower than its competitors, its latest console launched to a smaller install base with a higher cost structure, and in some parts of the company, work passes through as many as 14 layers of management. In a typical year, Xbox loses 64 cents for every dollar it invests.

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What you'll learn

  • 1 (00:02) **Show Open & July 4th Banter** - Hosts discuss their holiday weekends, drone shows replacing fireworks in LA, and the shift in 4th of July celebrations.
  • 2 (03:58) **Xbox Layoffs: 3,200 Jobs Cut, Business "Not Healthy"** - New Xbox CEO Asha Sharma announces major layoffs, admitting the business is in poor health without blaming AI.
  • 3 (21:29) **Ferrari 12Cilindri Manuale: A "Manual" by Wire** - Ferrari introduces a gated manual shifter for the 12Cilindri, using a modified DCT with a clutch pedal and shifter.
  • 4 (33:01) **Tesla Model Y L, Fridge, and the Robotic Snake** - Tesla launches the three-row Model Y L in the US, a dual-zone fridge accessory, and a look back at the abandoned robotic charging snake.
  • 5 (37:20) **AI Ordering Pizza via iMessage & App Store Shakeup** - A team builds an AI agent to order pizza through iMessage, while the App Store top charts show a shift away from pure AI chat apps.
  • 6 (41:07) **Joe Rogan Clip: AI vs. Algorithmic Feeds** - A clip from Joe Rogan's podcast with the CEO of Perplexity AI sparks a debate on whether algorithmic feeds kill curiosity and AI supercharges it.
  • 7 (46:25) **Peregrine Falcons, Carrier Pigeons, and Michael Dell's "Delicopter"** - A segment on home defense falcons, carrier pigeons, and a hot mic moment where Michael Dell corrects President Trump about his "Delicopter."

+ Full timestamped outline available in the app

Show Notes

  • (03:58) - XBOX Layoffs
  • (21:13) - "Manual" Ferrari
  • (31:21) - 𝕏 Timeline Reactions
  • (50:23) - Circle K Lottery Dispute
  • (01:05:31) - Baiju Bhatt, co-founder of Robinhood and CEO of Cowboy Space Corporation, discusses the evolution of his company from Aetherflux to Cowboy Space, focusing on developing vertically integrated orbital data centers and launch vehicles to meet the growing demand for AI computing. He emphasizes the importance of designing rockets and data centers as a unified system to optimize performance and cost-effectiveness, aiming to harness solar energy in space to power these data centers. Bhatt also highlights the shift in the space industry towards commercial payloads, particularly for AI applications, and the need for companies to control their own launch capabilities to meet this demand efficiently.
  • (01:31:17) - Daniel English, co-founder and managing partner of Legacy Investing, transitioned from tech entrepreneurship to real estate investment, focusing on data centers, logistics, and life sciences facilities. In the conversation, he discusses the evolution of data centers, highlighting their increasing importance due to AI and cloud computing, and emphasizes the strategic conversion of underutilized urban office buildings into high-density data centers to meet growing infrastructure demands.
  • (01:49:05) - Michele Catasta, President and Head of AI at Replit, discusses the evolution from "vibe coding" to "vibe building," emphasizing the shift towards enabling users to create customized AI agents that autonomously accomplish tasks end-to-end. He highlights the importance of thinking in terms of goals rather than specific applications, allowing agents to determine the necessary steps and code to achieve desired outcomes. Catasta also predicts a future where agents replace traditional apps, streamlining workflows and reducing reliance on deterministic software.
  • (02:00:07) - 𝕏 Timeline Reactions


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