No Agenda 1908 'Chivatican': Adam Curry and Andrew Horowitz Deconstruct Tariffs, AI Hype, and a Hijacking Mystery
In Episode 1908 of the No Agenda Show, host Adam Curry is joined by guest co-host Andrew Horowitz for a three-hour media deconstruction covering tariffs, jobs numbers, artificial intelligence, and a mysterious mid-air incident. They dissect the $15 billion Mesabi Metallics steel plant deal, Kevin Hassett's shifting commentary on BLS reports, Scott Bessent's bond-buying 'blunder,' and Trump's rebrand of AI as 'SI.' Horowitz shares his investing philosophy, while Curry questions conflicting accounts of the FlyDubai cockpit stabbing. The episode also touches on Meta's Muse assistant, the future of podcast apps, and more.
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In the latest episode of the No Agenda Show, host Adam Curry welcomes a new guest co-host: Andrew Horowitz of The Disciplined Investor and DH Unplugged. Broadcasting from the Texas Hill Country, the pair—who have known each other for roughly 15 years and share a history with the late John C. Dvorak—deliver a three-hour media deconstruction that is notably finance-forward.
The episode, titled 'Chivatican,' covers a wide range of topics, from tariffs and jobs numbers to artificial intelligence hype and a hijacking mystery over Saudi airspace.
One major thread is the $15 billion Mesabi Metallics / SR steel plant deal in Iowa, dubbed 'Patriot Pellets,' and the Section 232 tariffs that enabled it. Horowitz dissects Commerce Secretary Howard Lutnick's Oval Office pitch alongside Iowa TV6 reporting that no permits have been filed and no major Lee County land has been purchased for the plant. He contrasts Cleveland-Cliffs' North American pellet dominance with Brazil's Vale, flags the Indian ownership of SR Technologies, and connects the timing to the midterms.
The conversation also turns to Kevin Hassett's shifting commentary on BLS jobs reports, PCE methodology changes, and ShadowStats founder John Williams. Scott Bessent's bond-buying 'blunder,' private credit refinancing walls, and commercial real estate losses are also on the table.
On the technology front, Curry and Horowitz discuss Trump's rebrand of AI as 'SI' (super intelligence) and Anthropic's reported $2 trillion IPO prospectus. Curry champions Meta's Muse assistant, predicts the collapse of traditional podcast apps, and recounts building a prototype 'while watching West Wing.' AOC, Bill Gates, Jensen Huang, Sam Altman's 'Dots' launch, Pope Leo's Chicago-accented AI remarks, and Pete Hegseth's Pentagon purge all get run through the deconstruction machine.
A gripping segment focuses on the FlyDubai cockpit stabbing incident and Netanyahu's pre-election messaging. Curry hammers the shifting official story on FlyDubai Flight to Tel Aviv, noting conflicting ABC, BBC and Netanyahu accounts of whether the plane dropped from 34,000 to 16,000 feet in two or three minutes, whether a knife or crash axe was used, and the now-famous Israeli plumber who allegedly leveled the aircraft.
Horowitz's investing philosophy gets its own set piece when he recounts a horseback ride in Costa Rica with his wife Jill. 'The horse doesn't want to fall off the mountain just as badly as you don't want to fall off the mountain. Hang on to the horse. It's the same thing with these markets.'
Episode 1908 'Chivatican' is available now wherever podcasts are heard, and at noagendashow.net.
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