ELECTRONIC

Welcome to the Tearsheet podcast, where we explore financial services together with an eye on technology, innovation, emerging models and changing expectations. I'm Tearsheet Editor in Chief, Zack Miller.

There's an old theory in lending that you can only master two or three things: growth, credit performance and profitability. For decades, this has been accepted wisdom, until AI started changing the fundamentals of how we assess credit risk.

Today, I'm joined by Paul Gu, Co-Founder and Chief Technology Officer of Upstart. Paul's journey reads like a modern Silicon Valley story—from Chinese immigrant to Yale dropout. He became part of the inaugural class of Thiel Fellows before co-founding Upstart in 2012. Under his leadership, Upstart has gone from zero model training data points in 2013 to processing 91 million data points today. Their AI predicts both default and prepayment likelihood for every month of a loan's term, and Paul believes Upstart's AI is bringing them closer to achieving all three pillars of lending—an approach that could redefine consumer lending across the entire credit lifecycle.

We'll explore how this evolution is playing out, dive into Upstart's 2025 roadmap, including their push for 10x AI leadership and GAAP profitability, and discuss what this means for the future of credit.

How Upstart's AI is mastering growth, credit performance, and profitability

Blue states are setting up an alliance to counter RFK Jr. Betsy McKay from the Wall Street Journal explains. 

Blue States Are Setting Up a Shadow Public-Health Alliance to Counter RFK Jr

Both sides are reacting the same when it comes to Trump's economy. Economist Peter Morici brings us the latest.

Judging Trump’s economy: Let voters decide in 2026 midterm elections

Trump administration can deploy National Guard in Portland, government shutdown nears three-week mark, and you can now get paid to fold your laundry.

This Morning with Gordon Deal October 21, 2025

Medora Lee from USA Today explains why it might not feel like a recession to you but might for your neighbor.  

Feel like you're in a recession? It could be where you live

~toonyloons~ Linear .m4a

“Quantum Overdrive” is an intense, futuristic electronic track featuring aggressive distorted bass, driving synth leads, and cinematic arpeggios. Glitch percussion and industrial hits create urgency and tension, reminiscent of a high-stakes cyberpunk battle. Dynamic builds lead to explosive drops with sweeping atmospheric layers and digital effects, delivering an epic, energetic, and dramatic listening experience.

Quantum Overdrive

A deep and meditative journey through sound, capturing the quiet power of awakening as light returns to the mind.

Awakening

drussty ~ Linear .m4a

there rarely comes along a producer as prolific and unwaveringly individual as @goldenfurnituremusic | Across three releases in 2025, he has exemplified a sound inimitable, from window's hyperactive melange of lounge acid, ragtime breakcore and sampledelic ambient, to the plashing, subsurface excursions of laptop or phone, and finally in demonstrating a nigh-on purist investigation into mesmeric, technoid drum patterns on Simple Helps People Like It. Few others would be so willing to pursue this sonic world of polarized georgics, dissonant found sounds and celeritous percussion. Beneath all this, as well as in his earlier work, is a persistent occupation with people - their rants and peripherality, their songs and the strange ways these induce happiness and melancholy, their faraway voices, irrepressible but remote. There's a copious soul in all this, sometimes placed in clear-view, sometimes in a shrouded sheet of mist, but always speaking in some significant way.

gf's Realist mix sees him selecting a series of tracks that mirror the eccentricity and unique entwinement of uptempo wonkiness and emotionality distilled in their music. Breakbeat chamber pop, junglist post-jazz, field recordings from an SNES arcadia - gf presents a gallimaufry of outsider sounds, cultivated from the outer reaches of internet electronica. It creates a study of an oeuvre that is at times cryptic, at others stirringly sentimental. You could concoct all the pretty portmanteaus of genre and twirl synonyms ad infintum. There's ultimately no way but the listening to approach the originality of golden furniture, and the equal oddness of that originality's inspiration.

Tracklist -

carpet musics - palacade foyer
Scratch pet land - oiseaux d'appartement
The oslo deadtrash project - pyjama
figurine - time
random movement - ruthless machine
boomish - izzy live #1
p.e.a.c.e - your body
soul coughing - sugar free jazz (jazz free sucrose jungle dub)
droid - chronic dub mania
godzuki - control panel
frog pocket - bovis
Commercial - untitled 4
zero zero - back to hell
now - the in-case
candidate - the wound
like a stuntman - early career
golden furniture - Untitled guitar track only appears on this mix
piper spray - sputnik
macula dog - half cycle
underkarl - goldfisch
mall - blam
isotope 217 - real mc's
ROM - glacier
carpet musics - noon
Rich davey - Leave the stagnant canals be
loopdrop - triciclo
bill nelson - flipside
critters buggin - sheets
boomish - clams casino

art by https://www.instagram.com/grinnallll/

Realist Alive Radio 028: golden furniture

Bleiben

splinter= Linear*69

Linear ~ 1.3.wav

Lamste!~ Linear 69.m4a

Duncedog is an enigmatic SoundCloud artist and curator known for their eclectic taste and dedication to the platform’s underground music scenes.

drussty ~ Linear .m4a

Linear

Related tracks