Raoul Pal: The Journey Man

🔥 *Download Raoul Pal's 4-year investing roadmap for free:* https://rvtv.io/41fVHWF

On the latest episode of The Journey Man, filmed with a live audience at Crypto Gathering 2026 in Miami, Raoul Pal sits down with Jordi Visser, head of AI macro nexus research at 22V, to discuss the commodity supercycle, the advancements in robotics and AI, the abundance vs. scarcity trade, the decline of software companies, and much more. Recorded January 24, 2026.

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Timestamps:
00:00 Abra Sponsor
00:54 Welcome to The Journeyman
02:38 Macro, Crypto & AI Converge
05:06 Silver: The Metal Behind AI
08:00 The $85T AI Buildout
11:05 Resources, Geopolitics & Power
14:20 Europe’s Strategy vs the US
17:16 AI = Deflation Shock
20:19 Why Long-Duration Assets Break
23:02 Scarcity vs Abundance Investing
26:13 Stimulus, Politics & the AI Race
29:04 Why Silver Is Non-Negotiable
32:17 Is Software Actually Investable?
35:44 Agents Replace SaaS
38:53 Why Big Tech Can’t Adapt Fast Enough
42:05 Commodities: Rent or Own?
45:26 Solar, Power & Grid Bottlenecks
48:39 Energy Taxes & AI Economics
50:14 AGI Fears & the Human Question
53:18 Advice for Gen Z
55:22 AI as a Learning Weapon
56:49 NFTs as Cultural Memory
57:38 Final Thoughts & Outro

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Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
The Exponentialist: https://realvision.com/thefuture
EXPAAM: https://expaam.com

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🔥 *Download Raoul Pal's 5-year investing roadmap for free:* https://rvtv.io/41fVHWF

⚪ Raoul Pal welcomes Alex Gurevich, founder and CIO at HonTe Investments, to discuss the second edition of his book, "The Next Perfect Trade." Raoul and Alex also explore how classic macro frameworks like risk parity and duration investing are colliding with a new era defined by AI, deflation, and massive liquidity responses. Recorded on January 19, 2026.
⚪ Follow Alex on X: @agurevich23

📣 This episode comes to you thanks to Figure Markets. Use Figure’s Democratized Prime and enter to win $25k USDC while earning ~9% APY. The more you participate, the better your odds! Start now and enter to win while earning money on your crypto with Democratized Prime.
👉 Enter here: https://democratizedprime.pxf.io/c/6873097/3755092/37696

📣 Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for.

👉 Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss.

Unlock the potential to showcase your brand to our global audience. Contact us at [email protected] for advertising inquiries.

🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com

Connect with me:

Twitter (X): https://twitter.com/RaoulGMI

Instagram: https://www.instagram.com/raoulgmi/

LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/

My other work:

Real Vision: https://rvtv.io/3LHYIaH

Global Macro Investor: https://globalmacroinvestor.com

The Exponentialist: https://realvision.com/thefuture

EXPAAM: https://expaam.com

Connect with Real Vision™:

Twitter: https://rvtv.io/twitter

Instagram: https://rvtv.io/instagram

Get a FREE membership: https://rvtv.io/3Y4t5Pw

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
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🔥 Get my FREE PDF report https://rvtv.io/3YOZZUe. Welcome to Drinks with Raoul, Round 21... and the first live AMA of the year, coming to you straight from Crypto Gathering 2026 in Miami Beach.

☀️ In this special kickoff episode, Raoul lays out the case for why the macro cycle has shifted to a 5-year structure, what that means for crypto and global markets, and why 2026 is the year liquidity returns in force. It’s a message of clarity, optimism, and opportunity at a time when many are still stuck in short-term fear.

☀️ As always, you’ll get Raoul’s unfiltered thoughts on market structure, cultural shifts, a little chaos, and some high-quality Miami vibes and questions from our LIVE audience at the Loews hotel in South Beach. This is the start of something big!

Grab a drink. Tune in live. Let’s begin!

Unlock the potential to showcase your brand to our global audience. Contact us at [email protected] for advertising inquiries.

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
The Exponentiliast https://realvision/thefuture
EXPAAM: https://expaam.com

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☀️ Crypto Gathering Miami 2026: not everyone wants the full conference sprint. That’s why there’s the Social Pass ($300): welcome drinks, beach party, and Drinks with @RaoulGMI LIVE 🍷
☀️ Right now it’s BOGO... bring a friend or split the cost
☀️ Get it now: https://rvtv.io/3K36sq1

⚪ Real Vision co-founder and CEO Raoul Pal sits down with digital artist and writer Mark Wilson, better known as DieWithTheMostLikes, for a wide-ranging conversation on art, identity, and the attention economy. From his roots in Middle America to years spent grinding through a soul-crushing corporate job, Mark shares his unlikely journey to becoming one of the most distinctive voices in digital art.
⚪ Follow Mark on X: @toadswiback
📣 Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for.

👉 Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss.

Unlock the potential to showcase your brand to our global audience. Contact us at [email protected] for advertising inquiries.

🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
The Exponentialist: https://realvision.com/thefuture
EXPAAM: https://expaam.com

Connect with Real Vision™:
Twitter: https://rvtv.io/twitter
Instagram: https://rvtv.io/instagram
Get a FREE membership: https://rvtv.io/3Y4t5Pw

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf
Learn more about your ad choices. Visit podcastchoices.com/adchoices

☀️ Crypto Gathering Miami 2026: not everyone wants the full conference sprint. That’s why there’s the Social Pass ($300): welcome drinks, beach party, and Drinks with @RaoulGMI LIVE 🍷
☀️ Right now it’s BOGO... bring a friend or split the cost
☀️ Get it now: https://rvtv.io/3K36sq1

When it comes to the AI race, Jeffrey Quesnelle, co-founder and CEO of Nous Research, thinks there's no stopping it. However, he is on a mission to ensure nation-states don't control it through a select few companies. On the latest Raoul Pal the Journey Man, he speaks about the need for decentralized, open-source AI, and how his company is trying to make it happen as it competes with centralized AI titans.
Follow Jeffrey on X: @theemozilla

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📣 Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for.

👉 Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss.

Unlock the potential to showcase your brand to our global audience. Contact us at [email protected] for advertising inquiries.

🍌 Get your Banana Zone swag at the Real Vision merch store: https://shop.realvision.com

Connect with me:
Twitter (X): https://twitter.com/RaoulGMI
Instagram: https://www.instagram.com/raoulgmi/
LinkedIn: https://www.linkedin.com/in/raoul-pal-real-vision/

My other work:
Real Vision: https://rvtv.io/3LHYIaH
Global Macro Investor: https://globalmacroinvestor.com
The Exponentialist: https://realvision.com/thefuture
EXPAAM: https://expaam.com

Connect with Real Vision™:
Twitter: https://rvtv.io/twitter
Instagram: https://rvtv.io/instagram
Get a FREE membership: https://rvtv.io/3Y4t5Pw

Disclaimer: https://media.realvision.com/wp/20231004185303/Disclaimer-1.pdf

Learn more about your ad choices. Visit podcastchoices.com/adchoices