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Cloudflare CEO: The Internet’s Business Model Is Dead

The MAD Podcast with Matt Turck · 2026-06-25

Speaker 1 | 00:00 - 00:31
We actually had bot traffic pass human traffic online in the first half of twenty twenty six. In five years you might have a thousand times as much traffic on the internet as you do today. In the next six to twelve months, almost every company is going to go through some exercise like this where they’re gonna cut a bunch of their their team. The underlying business model of the internet for the last twenty eight years has remained basically the same, which is it’s largely advertising. The problem is bots don’t click on ads.

Speaker 1 | 00:31 - 00:34
Over the next fiv…

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Swyx (@swyx)

  • [41 ❤️]
  • btw @dakshgup i REALLY REALLY wanted to join the crew but just got too doublebooked to do it :/

here is me in my hip hop dance crew in 2003 (i am bottom left) [8 ❤️]

Thibault Sottiaux (@thsottiaux)

  • iykyk [893 ❤️ 29 🔄]
  • A silly, but made me laugh interaction with Sol

🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡
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🫡 Salute received, loud and clear. Carry on!

  • 12

39 × 12 = 468 🫡

  • 800

468 − 800 = −332 🫡

?

There were 39 🫡 emojis.
(39 × 12) − 800 = 468 − 800 = −332.

how can you have negative emojis

You can’t physically. −332 🫡 means you’re short 332 salutes or … owe 332 salutes.
Actual emojis remaining: 0 🫡, with a 332-salute debt.

🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡🫡
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Payment received: 39 🫡
Remaining salute debt: 293 🫡

hahaha

The salute economy is ruthless. 🫡📉 [1082 ❤️ 24 🔄]

  • What is something that you feel is surprising that Codex still can’t do well and we should have gotten right a while ago? [1804 ❤️ 29 🔄]

Peter Yang (@petergyang)

  • Damn is this whole game going to get played in front of Paraguay goal [17 ❤️]
  • Wow AI agrees with me 🤣 [2 ❤️]
  • Rooting for Paraguay later 😅

Please pull some Cape Verde shit [43 ❤️]

Nan Yu (@thenanyu)

  • When I wrote code by hand I would utter a constant stream of profanities while in flow state. So this is basically AGI [15 ❤️]
  • If you drop every production table does the model get fired or do you get fired. [293 ❤️ 3 🔄]
  • The best way to catch bugs is to use the product and see if you can break it.

You’re not going to find most bugs by dead reckoning the code.

You’re reviewing the code itself for architecture and API design… to control the increase in technical debt [24 ❤️ 1 🔄]

Amanda Askell (@AmandaAskell)

  • Happy birthday, America! You don’t look a day over 200. [289 ❤️ 9 🔄]

Cat Wu (@_catwu)

  • One of the things I love about Claude Fable 5 is that it knew to use propensity score matching (matching users on activity so you compare like with like) in my retention analysis without me asking.

It’s exciting to see Fable 5’s improved judgment across all of its work, from writing emails and docs in Cowork to debugging complex errors in Claude Code [484 ❤️ 9 🔄]

Guillermo Rauch (@rauchg)

  • 🏁 I animated the token 💰 spend race, from ~lifetime Vercel AI Gateway usage, which aggregates trillions of tokens from millions of developers a month.

Fascinating to see the fluctuations among the labs, Anthropic’s dominance, and the rise of open weight AI. [769 ❤️ 34 🔄]

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    🟥🟥🟥🟥🟥🟥🟥🟥🟥🟥🟥 [1037 ❤️ 31 🔄]

Garry Tan (@garrytan)

  • SF needs to build housing asap

Incentivize and build supply

Stop subsidizing demand [223 ❤️ 10 🔄]

  • Guarantee you Ryan and all his degenerate buddies were protesting against Lurie’s YIMBY Family Zoning plans

We want to build housing and make the city safe

They want to destroy housing, jobs and make the city unsafe

Make it make sense! You can’t. [23 ❤️]

  • Ryan is a part of the idiotic NIMBY class that only attacks people doing good work [73 ❤️]

Matt Turck (@mattturck)

  • Tough game but France got it done. Between Argentina and this game today, refereeing is becoming a major issue in this tournament. 3 yellows for France and zero for Paraguay who played like thugs?

Also, France, stop passing the ball to Rabiot for long-range shots lol [529 ❤️ 36 🔄]

  • Chills - Thierry Henry on growing up playing in the suburbs of Paris (and why 54 World Cup players are from there) [1170 ❤️ 149 🔄]
  • Little known fact, Morocco’s goalkeeper Bono had a prior career in as lead singer of a rock band [34 ❤️ 2 🔄]

Nikunj Kothari (@nikunj)

  • Moved to America for undergrad and have lived here ever since then..

Grateful to this country for the endless kindness it has bestowed on me.

Like any country it has its own share of issues, but convinced there’s no greater land of opportunity.

Here’s to the next 250 🇺🇸 [208 ❤️ 4 🔄]

Peter Steinberger (@steipete)

  • In the next version of - see exactly when you resets expire so you can up your ̶t̶o̶k̶e̶n̶m̶a̶x̶x̶i̶n̶g̶ valuemaxxing game! [1434 ❤️ 42 🔄]
  • What a ride. [456 ❤️ 12 🔄]

Dan Shipper (@danshipper)

  • Yo dawg we heard you like Codex in ChatGPT [49 ❤️]
  • biggest learning from @3blue1brown on @dwarkesh_sp is I’ve been mispronouncing the name of every single famous mathematician this whole time [60 ❤️]

Sam Altman (@sama)

  • they really nailed it with “life, liberty, and the pursuit of happiness” [601 ❤️ 23 🔄]
  • grateful to the people that created the idea of america, everyone who built it over the past 250 years, and the people who will carry it forward for the next 250.

most impressive social experiment in history. [2831 ❤️ 121 🔄]

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