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▶ 82:00 · $STORED · Stored raises $250M at $3B to build physical intelligence layer for commerce
episode briefing
TBPN

Ferrari EV, Enhanced Games, Pope's Encyclical, Alcohol & Podcasting

2026-05-26 · 7 company · 6 thematic
sentiment
5 bull1 bear1 neu
speakers
john coogan

Co-host of TBPN, a live technology and business show focused on startups, venture capital and Silicon Valley.

sean henry
alex atallah
jordi hays

Co-host of TBPN, a live technology and business show covering startups, venture capital and Silicon Valley.

eric ries

Entrepreneur and author of The Lean Startup, which popularized iterative product development and validated learning. He previously co-founded IMVU.

quote
“We're announcing that store has raised $250 million at a $3 billion valuation... really the power of the physical intelligence layer for commerce. We spent a decade building this at stored and we think that the scale, the vertical integrat…”
—sean henry
now playing · $STORED
$RACE···bearish· highjohn coogan
Ferrari's $640K EV Luch seen as strategic misfire: wrong price, wrong segment
The Luch is priced 2x above Ferrari's volume models yet offers worse range than BYD/Tesla and lacks track focus; hosts expect rapid depreciation like the SF90 and see no viable bu…
$TSLA···neutral· mediumjordi hays
Tesla has insane product-market fit but car business structurally unattractive
Model Y is global bestseller with unmatched vertical integration and software features, yet the auto business has generated only ~$20B cumulative free cash flow over 20 years — a…
$STOREDbullish· high· possean henry
Stored raises $250M at $3B to build physical intelligence layer for commerce
Vertical integration of consumer-facing software, warehouse orchestration, and now agentic robotics creates a flywheel: more volume → faster/cheaper delivery → better unit economi…
$ANTHROPICbullish· mediumeric ries
Anthropic's Long-Term Benefit Trust governance structure is 5x more likely to survive 50 years
PBC plus external mission guardian trust (not founder-controlled) aligns incentives for long-term value; data shows such structures dramatically outperform on longevity and value…
$MNDRbullish· mediumeric ries
Mandreon: 90K-employee worker cooperative conglomerate proves alternative governance scales
Network of 80-90 independent worker co-ops self-governs via congress; any co-op can exit. Employing 90K in Europe with diversified industrial/grocery ops, it violates every 'best…
$COST···bullish· higheric ries
Costco's $1.50 hot dog and low-margin philosophy prove mission primacy beats shareholder primacy
Costco deliberately leaves 50% net income on the table (3% price hike would add 50% earnings) because raising prices is 'heroin' — it erodes the low-price moat. Employee ownership…
$OPENROUTERbullish· high· posalex atallah
Open Router raises $113M from CapitalG, Nvidia, ServiceNow to become inference routing layer
Inference will be the largest software market; multi-model routing (350 models, 12T tokens/mo) cuts cost and beats single-model SOTA via mixture-of-models. Open Router captures th…