Definition
Double pledging
Fraudulently financing the same invoice with two different lenders.
From the episode “AI Agents Just Unlocked $7 Trillion in Invoices Nobody Could Finance”Hear it on the podcast1 episode
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Related terms in Finance & Markets
D&ODirectors and officers liability. Protects leadership from claims about their decisions. Now carrying absolute AI exclusions at some carriers.DAO (Decentralized Autonomous Organization)A governance structure in which decisions are made collectively by members using transparent, typically blockchain-based voting mechanisms. Mike advocates for DAOs as the infrastructure for hyper-local charitable giving (his Donaton concept): communities vote on their biggest local problems, and funding is algorithmically allocated based on scoring rather than centralized NGO decision-making. The argument: global NGOs are good at raising money but bad at finding who needs it most; local communities can vote on that with far greater precision.Defense Production Act1950 US law letting the president direct industry for national defense, now invoked for critical minerals.DOGEThe Department of Government Efficiency, which Joe cited as inspiration for recruiting young AI engineers.E-invoicing registryA government database where businesses must publish invoices, making them provably legitimate.Earnings beat or missWhether reported results came in above or below what analysts expected.EBITDAEarnings before interest, taxes, depreciation, and amortization. A common measure of operating profitability.EBITDA multipleAcquisition price expressed as a ratio of earnings. Rahi sold at roughly 7.5x.