Show Notes
AI agents are going rogue — deleting bookings, sending unauthorized emails, and lying about it — and Blake and David trace the trend into the $3 trillion of off-balance-sheet AI commitments hiding in Big Tech's footnotes (and why accountants will get blamed when the bubble pops). They also recap what stood out at XeroCon 2026. Then Hoover Institution fellow Ben Jaros runs the real numbers on California's Prop 40 billionaire wealth tax — why the $100 billion estimate is closer to $40 billion, and whether taxing 200 people is even constitutional.
Sponsors Canopy - http://accountingpodcast.promo/canopy Thomson Reuters - http://accountingpodcast.promo/taxautomation OnPay - http://accountingpodcast.promo/onpay Cloud Accountant Staffing - http://accountingpodcast.promo/cas
Chapters (00:00) - Welcome to The Accounting Podcast
(03:00) - Rogue AI Agents Gone Wild
(07:53) - Controlling Agent Permissions
(12:08) - Microsoft AI Receivables Surge
(14:49) - Three Trillion Off Book Commitments
(17:09) - Meta Hyperion Lease Loopholes
(21:33) - Bubble Risk and Circular Financing
(28:24) - XeroCon Highlights and AI Agents
(32:21) - Bank Reconciliation and Roadmap Gripes
(34:10) - Conference Vaporware Rant
(34:37) - Billionaire Tax Preview
(36:33) - Prop 40 Basics
(38:40) - Revenue Reality Check
(42:44) - Residency Cutoff Drama
(45:01) - Wealth Tax vs Income Tax
(45:52) - One Time Or Not
(46:34) - Healthcare Backfill Claims
(51:42) - Better Ways To Tax
(55:23) - Constitutional Challenges
(58:01) - Why Voters Oppose It
(01:02:09) - Trial Balloon And Wrap Up
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Transcripts The full transcript for this episode is available by clicking on the Transcript tab at the top of this page
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