Summary

(0:00) Chamath explains the Best Ideas format (2:31) Suvretta Capital Management's Aaron Cowen pitches MGM Resorts (13:07) Bornite Capital's Dan Dreyfus pitches Talen Energy (27:19) EcoR1 Capital's Oleg Nodelman pitches Aktis Oncology (40:20) Multicoin Capital's Kyle Samani pitches GEODNET (54:50) The Besties recap the pitches and announce winners Thanks …

Key takeaways

• MGM offers a compelling risk-reward with Barry Diller's 26% stake and $48 bid providing downside protection, while hidden assets in Osaka (est. $50/share value) and potential Dubai casino legalization could make the stock worth $100–$150+
• Talon Energy trades at ~$25B enterprise value vs. $45B replacement cost, generating ~$50/share in free cash flow against a high-$300 stock price, with AI-driven power demand creating a structural multi-decade tailwind for existing nuclear and gas baseload assets
• Geodnet has built the world's largest RTK precision-location network (22,000+ nodes in 150 countries) using a decentralized crypto incentive model, is growing 3x YoY at $11M ARR, and returns 80% of revenue to token holders via open-market buybacks at a $150M fully diluted market cap

Why this matters

As AI infrastructure, energy constraints, and precision robotics converge, these four pitches illustrate how sophisticated allocators are finding asymmetric value in overlooked hard assets—casino real estate options, baseload power producers, radiopharmaceutical platforms, and decentralized geolocation networks—well ahead of mainstream institutional recognition.

Entities

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Show notes

(0:00) Chamath explains the Best Ideas format (2:31) Suvretta Capital Management's Aaron Cowen pitches MGM Resorts (13:07) Bornite Capital's Dan Dreyfus pitches Talen Energy (27:19) EcoR1 Capital's Oleg Nodelman pitches Aktis Oncology (40:20) Multicoin Capital's Kyle Samani pitches GEODNET (54:50) The Besties recap the pitches and announce winners Thanks to our partners for making this possible! EY - EY helps private equity firms turn market insight into action, navigating complexity and unlocki