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Equity

Meta's Llama drama and how Trump's tariffs could hit moonshot projects

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 11 April 2025

⏱️ 32 minutes

🧾️ Download transcript

Summary

Meta dropped three new models over the weekend: Scout, Maverick, and the still-training Behemoth, billed as the next evolution of “open-ish” AI. But instead of excitement, the response was mostly shrugs. Critics called the release underwhelming, saying it lacked the edge expected in today’s breakneck AI race. Meta’s clear attempt to claw back some attention quickly turned messy. Accusations began circulating on X and Reddit around benchmark tampering, a mystery ex-employee, and large gaps between the models’ public and private performance. Today, on TechCrunch’s Equity podcast, hosts Kirsten Korosec, Max Zeff and Anthony Ha are unpacking Meta’s rocky rollout, the AI industry’s obsession with looking smart on paper, and why, as Kirsten put it, “creating something to do well on a test doesn't always translate to good business.” Listen to the full episode to for: A breakdown of Trump’s latest tariff push, what you missed and how companies are bracing for impact The secretive EV startup backed by Jeff Bezos, and whether it was Bezos’s Plan B Colossal Biosciences’ Dire Wolf discovery, and whether or not the breakthrough justifies the startup’s $10B+ valuation Equity will be back next week, so stay tuned! Equity is TechCrunch’s flagship podcast, produced by Theresa Loconsolo, and posts every Wednesday and Friday.  Subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. For the full episode transcript, for those who prefer reading over listening, check out our full archive of episodes here. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. We’d also like to thank TechCrunch’s audience development team. Thank you so much for listening, and we'll talk to you next time. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This episode is brought to you by Affinity, the most trusted CRM for private capital.

0:17.2

Hello and welcome back to Equity, TechCrunch's flagship podcast about the business of startups.

0:23.8

Today is Friday, April 11th.

0:25.9

I'm Kirsten Koresk, Transportation Editor at TechCrunch.

0:29.2

I'm Max Zeph, a senior reporter with TechCrunch.

0:31.8

And I'm Anthony Ha, weekend editor at TechCrunch.

0:34.4

And there are all kinds of insane things we could talk about from this

0:37.5

past week. And we'll get into some of them. But Max, I think you were going to start us off with

0:41.0

something crazy that happened at the very beginning of the week. Yeah. So this week got off to a

0:46.0

crazy start when on Monday a news aggregator account on X known as Walter Bloomberg,

0:52.0

which has no connection to Bloomberg news, posted a false report declaring

0:56.1

that President Trump was considering a 90-day pause on his controversial tariff proposal.

1:01.8

The headline that he posted, which is since deleted, Hasse, Trump is considering a 90-day pause

1:08.0

in tariffs for all countries except China. This caused a huge surge in the stock market, but then when it was found out to be true,

1:14.5

it plummeted.

1:15.6

But this was all the more confusing when on Wednesday Trump actually announced this exact thing.

1:20.9

I was going to say, I was going to jump in and be like, was it false?

1:24.9

Because in the end, it ended up being 98 pause and tariffs, which we're going to probably

1:29.3

talk about later.

1:30.2

But I did want to note that in that surge, basically it was a whipsaw event.

1:34.6

So extreme volatility in a short period of time over about 30 minutes, $2.4 trillion or so

1:42.8

was lost.

...

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