Chasing Trillion-Dollar Companies, Founder Ambition, Token Budgets, & Regulatory Capture
说话人分离结果（匿名标签）。同目录的
transcript.md未作任何改动。 标签 → 真人姓名的映射属于编辑判断，请记在 wiki 视频页开头，见 CLAUDE.md。 分离在抢话/串场处会错配：标签是证据不是判决，与内容矛盾时以内容为准。
说话占比¶
| 说话人 | 时长 | 占比 |
|---|---|---|
| SPEAKER_01 | 00:25:36 | 65.5% |
| SPEAKER_00 | 00:13:27 | 34.5% |
（访谈里占比低的通常是主持人，可作为认人的线索之一。）
说话轮次¶
| 起 | 止 | 说话人 |
|---|---|---|
| 00:00:00 | 00:00:25 | SPEAKER_01 |
| 00:00:31 | 00:01:24 | SPEAKER_00 |
| 00:01:24 | 00:01:26 | SPEAKER_01 |
| 00:01:27 | 00:01:31 | SPEAKER_00 |
| 00:01:32 | 00:01:34 | SPEAKER_01 |
| 00:01:34 | 00:01:38 | SPEAKER_00 |
| 00:01:39 | 00:01:44 | SPEAKER_01 |
| 00:01:44 | 00:01:48 | SPEAKER_00 |
| 00:01:48 | 00:02:37 | SPEAKER_01 |
| 00:02:30 | 00:02:30 | SPEAKER_00 |
| 00:02:37 | 00:02:53 | SPEAKER_01 |
| 00:02:53 | 00:02:54 | SPEAKER_00 |
| 00:02:54 | 00:02:55 | SPEAKER_01 |
| 00:02:56 | 00:02:58 | SPEAKER_00 |
| 00:02:58 | 00:03:01 | SPEAKER_01 |
| 00:03:02 | 00:03:12 | SPEAKER_00 |
| 00:03:12 | 00:04:42 | SPEAKER_01 |
| 00:04:42 | 00:05:07 | SPEAKER_00 |
| 00:05:07 | 00:05:08 | SPEAKER_01 |
| 00:05:08 | 00:05:48 | SPEAKER_00 |
| 00:05:48 | 00:05:53 | SPEAKER_01 |
| 00:05:53 | 00:05:57 | SPEAKER_00 |
| 00:05:57 | 00:07:13 | SPEAKER_01 |
| 00:07:10 | 00:07:11 | SPEAKER_00 |
| 00:07:14 | 00:07:34 | SPEAKER_00 |
| 00:07:34 | 00:09:36 | SPEAKER_01 |
| 00:09:36 | 00:09:46 | SPEAKER_00 |
| 00:09:46 | 00:09:54 | SPEAKER_01 |
| 00:09:54 | 00:10:00 | SPEAKER_00 |
| 00:10:00 | 00:10:22 | SPEAKER_01 |
| 00:10:22 | 00:10:31 | SPEAKER_00 |
| 00:10:31 | 00:10:31 | SPEAKER_01 |
| 00:10:31 | 00:10:31 | SPEAKER_00 |
| 00:10:31 | 00:10:31 | SPEAKER_01 |
| 00:10:31 | 00:10:39 | SPEAKER_00 |
| 00:10:39 | 00:12:23 | SPEAKER_01 |
| 00:12:23 | 00:12:49 | SPEAKER_00 |
| 00:12:49 | 00:12:50 | SPEAKER_01 |
| 00:12:50 | 00:14:04 | SPEAKER_00 |
| 00:14:04 | 00:16:34 | SPEAKER_01 |
| 00:16:34 | 00:16:35 | SPEAKER_00 |
| 00:16:35 | 00:16:35 | SPEAKER_01 |
| 00:16:35 | 00:17:09 | SPEAKER_00 |
| 00:17:09 | 00:17:10 | SPEAKER_01 |
| 00:17:10 | 00:17:10 | SPEAKER_00 |
| 00:17:10 | 00:17:10 | SPEAKER_01 |
| 00:17:10 | 00:17:52 | SPEAKER_00 |
| 00:17:52 | 00:17:53 | SPEAKER_01 |
| 00:17:54 | 00:17:55 | SPEAKER_00 |
| 00:17:55 | 00:18:45 | SPEAKER_01 |
| 00:18:45 | 00:18:48 | SPEAKER_00 |
| 00:18:48 | 00:18:48 | SPEAKER_01 |
| 00:18:49 | 00:19:06 | SPEAKER_00 |
| 00:19:06 | 00:19:08 | SPEAKER_01 |
| 00:19:08 | 00:20:00 | SPEAKER_00 |
| 00:20:00 | 00:20:47 | SPEAKER_01 |
| 00:20:47 | 00:20:47 | SPEAKER_00 |
| 00:20:49 | 00:20:49 | SPEAKER_01 |
| 00:20:49 | 00:20:50 | SPEAKER_00 |
| 00:20:50 | 00:21:01 | SPEAKER_01 |
| 00:21:01 | 00:21:02 | SPEAKER_00 |
| 00:21:03 | 00:21:04 | SPEAKER_01 |
| 00:21:04 | 00:21:49 | SPEAKER_00 |
| 00:21:49 | 00:24:02 | SPEAKER_01 |
| 00:24:02 | 00:24:13 | SPEAKER_00 |
| 00:24:13 | 00:25:45 | SPEAKER_01 |
| 00:25:45 | 00:25:57 | SPEAKER_00 |
| 00:25:57 | 00:25:57 | SPEAKER_01 |
| 00:25:57 | 00:26:24 | SPEAKER_00 |
| 00:26:24 | 00:26:54 | SPEAKER_01 |
| 00:26:54 | 00:26:55 | SPEAKER_00 |
| 00:26:56 | 00:27:17 | SPEAKER_01 |
| 00:27:18 | 00:27:53 | SPEAKER_00 |
| 00:27:53 | 00:28:12 | SPEAKER_01 |
| 00:28:12 | 00:28:26 | SPEAKER_00 |
| 00:28:26 | 00:28:26 | SPEAKER_01 |
| 00:28:27 | 00:28:28 | SPEAKER_00 |
| 00:28:27 | 00:28:27 | SPEAKER_01 |
| 00:28:29 | 00:28:45 | SPEAKER_00 |
| 00:28:31 | 00:28:31 | SPEAKER_01 |
| 00:28:34 | 00:28:35 | SPEAKER_01 |
| 00:28:45 | 00:28:46 | SPEAKER_01 |
| 00:28:46 | 00:29:03 | SPEAKER_00 |
| 00:29:03 | 00:29:33 | SPEAKER_01 |
| 00:29:33 | 00:30:03 | SPEAKER_00 |
| 00:30:03 | 00:30:26 | SPEAKER_01 |
| 00:30:26 | 00:30:32 | SPEAKER_00 |
| 00:30:32 | 00:31:17 | SPEAKER_01 |
| 00:31:17 | 00:31:19 | SPEAKER_00 |
| 00:31:19 | 00:32:01 | SPEAKER_01 |
| 00:32:01 | 00:32:14 | SPEAKER_00 |
| 00:32:14 | 00:32:15 | SPEAKER_01 |
| 00:32:15 | 00:32:33 | SPEAKER_00 |
| 00:32:33 | 00:33:06 | SPEAKER_01 |
| 00:33:06 | 00:33:11 | SPEAKER_00 |
| 00:33:11 | 00:33:12 | SPEAKER_01 |
| 00:33:12 | 00:33:48 | SPEAKER_00 |
| 00:33:48 | 00:33:48 | SPEAKER_01 |
| 00:33:48 | 00:33:51 | SPEAKER_00 |
| 00:33:51 | 00:34:26 | SPEAKER_01 |
| 00:34:26 | 00:34:42 | SPEAKER_00 |
| 00:34:42 | 00:36:17 | SPEAKER_01 |
| 00:36:18 | 00:36:31 | SPEAKER_00 |
| 00:36:31 | 00:37:19 | SPEAKER_01 |
| 00:37:19 | 00:37:23 | SPEAKER_00 |
| 00:37:23 | 00:37:55 | SPEAKER_01 |
| 00:37:55 | 00:38:04 | SPEAKER_00 |
| 00:38:02 | 00:38:03 | SPEAKER_01 |
| 00:38:04 | 00:38:05 | SPEAKER_00 |
| 00:38:05 | 00:38:50 | SPEAKER_01 |
| 00:38:52 | 00:39:04 | SPEAKER_01 |
| 00:39:05 | 00:39:27 | SPEAKER_00 |