Shane and AJ are back, spooky season is in full swing, and AJ's book comes out in three weeks. They kick things off with a Reddit question from someone who has a Finnish sauna, a Turkish bath, a cold plunge, and a heated pool, and just wants to redo their spa. AJ and Shane weigh in.

Then it's into the articles. The Wall Street Journal has new details on Trump accounts, including a rule that allows individual stock contributions and a new auto-enrollment mechanism. AJ is broadly in favor of the concept and broadly annoyed at the potential for corporate abuse. Anthropic has committed 5% of its shares to a public benefit fund ahead of its IPO, which AJ and Shane think is the right instinct even if the PR is a little much. SpaceX stock is up 50% since its IPO, and the lockup release data is encouraging, with most unlocked shares not flooding the market as everyone feared.

They close with the IRS ruling on 351 exchanges and what it actually means for advisors and clients with concentrated positions. Spoiler: it is not as bad as it sounds, and Brent Sullivan of Tax Alpha gets a well-earned shout-out.

Topics covered:

• Reddit question: How do I redo my spa with a Finnish sauna, Turkish bath, cold plunge, and heated pool?
• Trump accounts: new auto-enrollment rules and individual stock contributions explained
• The corporate abuse edge case that has AJ worried about Trump account contributions
• Anthropic commits 5% of shares to a public benefit fund ahead of IPO
• SpaceX stock is up 50% since IPO, and what the lockup release data actually shows
• Why phantom income from vested but unsellable shares is the worst type of income
• 351 exchanges: what the IRS ruling actually closed and what is still viable
• Shout out to Brent Sullivan of Tax Alpha and his concentrated position strategies

Timestamps:

• 00:52 Halloween costumes, Dr. Shots, and AJ's book coming out November 10th
• 03:45 Reddit question: How do I redo my spa?
• 07:30 Trump accounts: auto-enrollment and new individual stock contribution rules
• 10:15 The corporate abuse edge case and why AJ is worried
• 13:00 Anthropic commits 5% of shares to a public benefit fund ahead of IPO
• 16:30 AI optimism vs doom and the Elizabeth Holmes documentary conspiracy theory
• 19:00 LinkedIn bots, Russian bot farms, and Elon's response to Anthropic's announcement
• 22:30 SpaceX stock up 50%, and what the lockup release data actually shows
• 27:00 Phantom income, double triggers, and what the December lockup means for employees
• 29:00 351 exchanges after the IRS ruling: what closed and what is still viable

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