TWiST News: Grape-picking robots, startup investing for all, and the earnings numbers you need to know | E2037
01:30:53 Share

Essentially sam albans that hey um we face a lot of limitations and hard decisions about how we allocate our computer resources towards ideas. So essentially Jason on their computer constrained even with pleasure in their pocket that blew my mind .

yeah they're blowing through five ten million, ten billion a year in infrastructure and losing a lot of money um and that does say something that you know they are they're running out of band with and I saw jenson wong, who was talking about you on standing up this giant uh cluster. So the build out keeps occurring. I do think the interface ChatGPT is superior to any other interface, but the results are not this week startups has brought to you by fidelity private shares, manage your capable and data room, get faster, more accurate for nine evaluation, and fully automate your next financing round. Visit fidelity private shares dot com, mention our podcast and receive twenty percent off your first year paid description.

Linked in jobs a business is only as strong as its people, and every higher matters go to linked in dot com slash twist to post your first job for free, terms and conditions apply and oracle oracle cloud infrastructure or O C I, is a single platform for your infrastructure database application development and A I needs save up to fifty percent on your cloud bill at oracle dot com h west. All right, everybody, welcome back to this week in startups. It's friday.

It's november first. We are but four days from the election. And we're not going to talk about hut, but today we're going to talk about started up technology. So this is a great reprove for all of you who that are White nuckles IT to the end of the election or hopefully if your founder of a started up your focused on your team, your product and your customers with me again today, as always, and let's tell them, are you, sir.

I you know, i'm good. I'm also very glad that this is our little election free, safe stone because I think everyone else, I look open the door election, turn on the sports game election. So you know, a little break sounds good.

so i'm going to win. Who's going to let me as here? I mean, IT is crazy to think that the prediction markets are like coming back down to the uh, they were obviously very much in favor of trump, but they seem to have come down to the a polls and the pollsters, right? This the gap is closing and we're in a dead heat and I S date so ver on twitter like once the last time I was like this was an algal and motion. I don't even think that two thousand election was this close.

Yeah well, one thing i've been tracking very carefully, apart from poly market and calls in other petition market, the Robin hood got in on that shot. Robo od, um but I just pulled up the data according to um the latest information from N B C, sixty four point nine million votes have already been cast wow.

So like is crazy we talk about the .

election day and more counting election day. But I think the election now, you know it's ongoing. But uh, just and we have A A really awesome show we have with us today.

We have the founder of a company extend robotic that's going tell us all about the Operation V, R, and how to grab little great the robot at upcoming bill in the senate that might bring private market investing to everybody. And we have a raft of critical earnings updates. And if you and I don't yp too much, we will talk a little bit of about apple's new satellite, ideal new stuff from OpenAI. And I pulled a new chinese E V clip. A so what to do .

lots to do today on this week in startups, let's get started. I had seen alex uh um video of grapes being picked by a robot and A I we had an investment in a company, uh root A I that was doing picking of varies. And this is, I think, something we're going to see in the coming years.

General robotics, powered by A I large language models helping the robotics. You will move from doing very vertical tasks to doing very general tasks. So vertical A, I I think everybody knows, like you can teach A, I had to play chess or poker and have a really focused on that set of hurried s rules. Strategies are just like cafe ax could have a, the start that we invested in that makes coffee a very constrained uh, ability to make coffee in a box but to have a robot go full dual laundry, pick grapes and make you coffee, that's a whole different ball of black. So let's introduce our guest today and see what he's up to.

Yes, so with us today is doctor chain leu, the founder and C E O. Over at extend robotics. I'm going to call you chain because that can be a lot simply. But hey, hey.

you doing hello, very good. Great to see you. I likes. Great to see you. Finally and twist and the auto cast is definitely.

uh, so tell us what you're working on and the progress making. You heard my little tea up about robotics and how IT might change over the coming years because of advancements specifically in LLM, ms and A I learning so quickly and sort of generalized A I versus vertically. I in in. Do you think I got that sort of team .

IT up correct? Yeah, definitely finites if you've had a really good summary. But yeah just generally for extend robotics, we are A U K. Uh, started in two thousand ten. Um yeah I mean the extend really the purposes to develop robotic software, to extend human ubi ties beyond physical presence, ultimately to amplify worlds labor productivity through technology, robotics and artificial intelligence. So um yes, so our purposes really helping the world, making that transition from those traditional vertical uh factory automation into this real word general purpose automation, the aims to combat the labor shortage， obviously, and everybody y's talking about that yeah but but obviously we understand the the real world automation is difficult because I have to uh require like a multi proper system working for high variability task in those dynamic environments, right and and and that's that's generally deemed impossible previously. And and and and and we see there is a breakthrough since the I was say LED by ChatGPT that the the new generation of a taking over on on text domain or on conversational domains, we will see this opportunity to embody those similar A I systems into physical uh borne factor like robots and and enabled human leg experience even for physical works.

So we just saw one of your hand tell robots um doing lab work um and picking grape explain to us what's happening in that video we pull IT up again.

Maybe you could sports cases and tell us, you know did the robot was a trained already on how to pick grapes or did you just tell IT pick grapes or pick whatever you see in front of you if you think it's right? Like how much training do we have if we, you know, we see a robot here doing a hand shake, what do you call those robots that have like two, three hinges on them? Yeah, that we see a factory. What are those called?

I mean, Normally, uh, we got to the mobile manipulator, I mean these ones in the showing in the video, uh, we recently has a more more human like of born factors with arms and uh, similar mobile base. I mean, we've developed software that is trying to be more a widely compatible with off the shelf part. So we don't manufactured hardware.

So I don't want to compete on on that. But but we build software that is trying to give a lot of options for people to build their own um setups. Uh, so our software basically a virtual ality applications that people can use to upgrade their robots um and people can use once upgrade, they can wear A V R, has that they can use their gestures to Operate robots and they can have a finger level controls as well on on the on hands.

So the purpose of the soft has three purpose. First is to able to telly Operate robots in real time and then the second is to um to collect data for for A I trainings and then the third is to um to influence A I and unable to uh supervise and h and provide interventions. We need an an obviously uh the hope is that we can uh we can allow the the the same as um shared automation happening both both with human as as well as uh as A I combined together and they can basically compliment each other over time and as as A I got more capable than I .

can becoming there. So I know that extend is working with the queen mary university on this grape picking project. But just to make sure basically what I understand that the current level of the technology is tell Operation robotic arms in the field, and then allowing the robots to learn from humans doing the motions for them, actually pick the graves. But in time, this will get to the point when the robot is able to do IT mostly by themselves. I present .

yes yes exactly we we certainly view the automation as a spectrum rather than a overnight miracle step change a and and there there's always some level of human there and and and hopefully towards the towards the um future um there will be less of a human than more of a AI uh in in the process uh we call IT a human in the loop A I right and and this as a as a work collaboration between human and A I IT means that make smooth transition basically where uh one one human can can simulate eusden supervise more and more robots depending on the level of autonomy that each robot becomes.

So that's why we we amplify a labor. We don't replace labor. We amplify labor with A I and and IT is going towards the same direction. But always see we we we're proposing a more uh, smooth transition here or at.

listen, interest rates are coming down, but it's still hard to raise a new round. Everybody knows that the last thing you need to get bonk down in the manual while raising. So if you are found the overwhelmed with your capable management due diligence and Frankly, managing your investors, you need to check out fidelity private shares.

Fidelity understands that killing with equity and be incredibly time consuming. That's why some founder joke that fun racing is a full time job. I'm not working on my startup.

I'm managing my investors. I'm doing fun racers and IT shouldn't be right. With fidelity private chairs, you're gona easily manage your table and your data room.

You're gna get a more accurate foreign evaluation and need to get a quicker. You'll also be able to oral the future of your companies is equity, which you need to do as they found. Because this illusion is up, people start signing notes.

They don't know what. The impact of those notes will be and you know you want to model that out and you can fully automate your next funding round so you stay on track. You seem professional even if you're scattered.

You know you want to come across as very professional and build up, and that's what having a great partner and you're going to get get great support from fidelity, a great start up community. They do a lot of cool events with founders and VC. I'm going to be going to some of them.

So check out fidelity private chairs. At fidelity private chairs that come mention our protest. You are going to receive twenty percent off your first year paid subscription.

And alex, this is what we, I think, are hearing about self driving, that there is one point five mission specialist. We were told that we o we don't know that true way mo says is not true. Crews had virtual Operators.

The idea here is humans in the lute watching the A I learn, and then eventually IT steps back and watches ten people picking grapes. Or IT goes from one and a half or two car robot taxes to ten to one hundred. And then the mission specialist, which I love that term eventually, are just looking at very uh, unique moments in time. Yes, professor.

exactly exactly. So generally should be just supervising was happening and just monitoring, uh, just in case. And then only you only needed they they come in and super as provide those innoventions um and always you can tell you Operate whenever you need.

So I I want to talk about the grapes though because one thing that I I don't know much about growing grapes for wine, but I do know you to be pretty delicate with the actual of fruits themselves. So how how much much chAllenge was IT to train these arms or to Operate them to not, you know, break this kind of the fruit and ruin essentially the wine harvest?

yeah. So there certainly level of integrations, uh innovation needs to happen in n in terms of the sensory information um able to sense force at the factor to uh to both provide feedback for Operators but also a um information for the AI models to make sure there is a clear feedback g on on applying force because obviously for grapes as a is very important to make sure not damaging them and they are very a delicate and and and especially for one making um we were working with the suffer ground just the one a english spoken king， one maker and the very keen um I mean the the very uh h they work really hard to make sure the wine is on a good uh quality um and we're working with queen area universities that are very experience on uh customer and defectors to able to uh in uh incorporate force into into the same and we come in as a as a human in the loop ai uh software um capabilities as a consultant. We try to build .

this together and in the factory or is just a fancy term for robot .

hand pers pers yeah and in robot yeah gipper and factors .

um sometimes you can you can have different form factor for the for the quipped yeah okay.

when do you think a wine harvest will be done completely robotically? What year to put a bet on this?

Yeah I think i'm in in terms of our our current project, we are we obviously quite early in in the stage, I would say um in the in the next three to five years, this is something uh could be commercialized. But obviously this is so we also A A A process of commercialization of commercial adoptions. Uh, that's gonna take some time. But I think that technologically um where we're getting more mature in in in the next five great to five years.

I think it's going to be amazing about this, alex, is if you think about training skilled or unskilled workers, right? And when people start the job, they are unskilled and they're over a decade, maybe they become skilled at IT. sure.

It's gotta be extremely frustrating as somebody who want runs a veneer to have new people, typically probably migrant workers, come in and then train them of how do not damage the vine and how to do this correctly. And now if this becomes uh automated, then that means whoever the best uh caretaker was of these grapes and these vines would become the global single um vine manager in the world. So this is a really interesting concept.

Alex, imagine if you had won, if you had the greatest pilot of all time, and say, Sally, who landed the miracle on the hudson, let's say he is, in fact, the greatest pilot of all time. You could have that pilot in every single clean here. You could have the person who manages vine the most, perfectly manage every vine in the world.

In other words, the most perfect practitioner for any sport, a behavior in the world. And then the really to stop an or weird moment in time for all of this, alex will be, I think, instead of having migrant workers leave mexico to come to california to pick grapes, they could stay in mexico, not cross the border, and have V, R, headsets and have the robots in napper doing this work. It's kind of crazy when you think about that three to five year period. No.

alex, I mean, I think one thing that we underestimate as a as a technological breakthrough is just broadband penetration around the world because what undergirds what you decide is just past connections. Now, dr. U um I presume that if i'm going to interact with one of these robots with the grip thy, I need a pretty fast connection. How latent is the I move my hand and in the robot move IT. Is there a number .

you can put on that? Yeah yeah. So uh so actually is streaming the data, streaming the latency and ban with reduction uh is is one of hour of a key uh I P about ability to really quickly compress the data， especially in in this case we're compressive three data to enable immersive experience in V R um and and we have the full uh patent on on IT.

And basically we can we can our ability to to stream data is is about A A hundred one hundred fifty million seconds. And that's obviously on top of the latency of the of the network. OK will IT work .

on the commercial internet or do you have to have a dedicated network? And would IT work on, say, a five g network? Can you do this with a verizon, even a starling satellite connection from a low earth orbit satellite? Is the late and sea not good up on most platforms?

We can already do that. yes. So a we can we can use on wifi, ug are just working on testing star links. Um yeah so ah in fact I think starlings is probably the the lowest and latency in terms of network because you don't have to go through the the fires. So um so is a more stray line, but we we're working on testing that. But but gently ability to impress that small enough that you can actually stream over that uh standard network is is one of the or a capabilities we can offer after wine.

what do you got? What's the next after pick grape? Or is this just the companies is going to work on picking grapes for a couple of years?

Um yeah we actually uh so we're quite wide in terms of uh, adoptions. So we we web we actually started with uh nuclear uh applications as as a tally Operation interface working with at can release um and we then we take on some projects with with airbus on space robotics uh and uh and recently we started this this new a new ground and in uh a year or two a year and half into of this future future farming projects that is on agriculture uh applications.

And I think we are we are getting into the field that where a lot of tractions coming in from for manufacturing industries, especially automotive and a few more um like a manufacturing applications where we see there's a lot of labor shortage as well. So I think we we are getting towards this this phase where we start to focus on uh, manufacturing. But I think all these applications really, really allow us to build a general purple technology and and for us, uh because the the the technology is so general purpose and widely applicable um all all of these application and really contribute to advancing the technology. Well, we are where we're looking at the more commercial adoptions at uh, manufacturing applications.

we to let to go. But one more question before we do. I know you are U.

K, base start up. I also know guys have raised some great money. U. K, how supportive has the the U. K.

Been to a start community lately? I know we're in a post breaks in the world, but I love talking to folks from different. So just give us a quick lay the land for building a technology company in the U K.

I think the U. K. Is probably one of the best environment for startup in if you are a software focus, start up software in A I um and there's a lot of government support in terms of pushing innovations, happenings um and and helping start up small companies to to innovate and and there's lot of venture capitals uh available that to talk to, especially around london area. There's yeah so I think I think is a good, good starting starting point when .

you make your next trip to london to get a big check, shoot me email and will get up. And that i'm very clear to see how the company goes. But to you, thank you very much. Extend robots or you can google IT. And if you're into Sparkling wine, perhaps check out saffron.

Yes, thanks also for you. Work up. Thank you. Thank so much. interesting. I think when we see these demos, and you know a lot of times i'll see them go by on linked in or act in a production team, we talk about IT.

What's underpinning this change, where of the second order effects that will happen, is what I always try to go to because then we can figure out the trends. And I think there's a couple of very interesting ones here. One is the greatest single practitioner in every vertical. I don't know how to phrase this exactly, but the perfect pilot, I think, might be the way to think about this, and were the perfect poker player, you are going to have, for every profession, the greatest practitioner, addressing every single of that task.

And so for picking grapes, IT seems mundane IT probably seems like not super important um but IT probably is uh because great wine making requires wine makers in in this entire process, all the secrets will eventually wind up in A I and the quality of wine, like the bottom half of wine, could become as good as the top half because all of the secrets, all of the little nuance will be captured. So we will elevate uh the cost of will elevate the quality while reducing the cost. Founders, I know that you're keeping a close eye on your burn rate. I am too.

In today's venture market, every single fire you make has to be perfect, right? You can't make mistakes. You've got to keep that runway as long as possible so that you can run more experiments.

And you need talented people to run those experiments and figure out how you going to get product market fit, how you going to scale your company. And that's why you need to use linked in jobs. As you know, linton brings you the candidates that you can find anywhere else.

Linton, pass the one billion member. Mark, think about that. One billion members.

And seventy percent of lincoln users don't visit the other leading job sites. This is a phenomenal statistic. They don't even go to the other job sites.

why? Because they might not be looking and those are the best hires, but they're hanging out of linked in doing professional development, checking in on their network, building their network, sharing content, finding leads, all that great stop. Bottom line, there's amazing highers waiting for your company on linton and nowhere else.

And they have a special deal right now, post a job for free. what? F R E E? What a great Price.

Linton dock cos, like twist, that's right. Linton dock cos, ash, T W I S T to post your job for free. Arms and conditions, core supply.

I want to double d on on exactly you're inking here because to me the best pilot the example you use was so I definitely a flesh and blood human. But when you talk about um these AI models becoming the best of what they do do are you referring like a digital digital trained AI that learned from the best human to then become the best technology product.

you would assume that all of this monitoring of great humans with then result in the greatest ji pilot of all time. And I could also learn just from all scenario.

So if there is a scenario where you know when you're picking grapes to learn, hey, you know, this bundle of grapes needs twenty four more hours on the line and this one you know, we missed and we should have picked IT earlier over time learning that is uh, something that could come from a human perception or over time the A I could learn, hey, when we produce this vintage of wine, IT got a lower score than the last five years. And let's go back and replay what we did in that type of um diligence on tasks exist for planes every time the plane crashes. We have this wonderful thing that happens out of that tragedy, which is the entire system gets Better.

They focus so much energy at such great cost on making travel safe that were now at a point where we've had no commercial airline deaths in amErica in like a decade. Yeah, it's phenomenal. And you know, tragically, whatever the next one occurs, they will put millions and millions of dollars into figuring out why that happened, even if IT was a drunk pilot or just a broken belt.

And it's like, super obvious they will track that down. Now that doesn't happen. Those kind of postmortems, those kind of deep brief does not happy when you're picking grapes, I am certain.

So now you're gna have that occurring. So the perfect pilot for every profession is coming. The perfect professional for everything I I hear .

the employed add bad to the theme list. So trust me, it's going on one less .

before move the other piece. The part two of this is how strange is IT that teller commuting remote work is going to be global. So we're sitting here watching amazon and andy, Jesse deal with flight, a mutiny over at amazon for when they come back five days a week in january.

And here we're gonna people potentially picking grapes from mexico who would be migrant workers. But since we were shutting the border down, they will be able to do that work in a call center or from their home with a satellite connection just in the same way a thea a go to with theo ww dot com and get a virtual assistance. We're investors in the company, both disclosure um just like you can have somebody and manilla working in your Operations department like we do here at launch.

And many other startups have virtual assistance because you can't find assistance and had workers in the united states. Sadly, people don't want that job here. So it's really interesting those two components of this that I am not struggling with but kind of inspired by yeah.

it's going be interesting to see how long U. S. Based developers can charge the wage premium.

They have been urged, the international competes. For example, if europe, pretty sad. Developer in the U. S. And you live in seattle and you work for amazon, microsoft and then you move to, I don't know, friends, I mean, you would take a pretty serious solid reduction.

So by that logic into your point about tel Operation in people from around the world taking more part in the economy as we see， if marland, does that mean that in time one of the developers is best traits in the U. S. Is going to be their ability to go to an office because the person in london or manila or wherever. And so I onder if that's going to be there.

they are saving Grace. I think that will be part of IT. Just like, uh, a soo, you could have the greatest soo a in the world tell a commuting to tell you what to order, but you'd still want to go to the restaurant and have that experience of the soma in person in real world meat space as we call back in the day. That would be uh charming and wonderful. And uh, I think that's probably how this will hash out and they'll just be a global standard for salary is that I think we're going to because if you look, you know like you'll have somebody in manila, uh, or india or kenya, these are all emerging markets for virtual assistance business process.

And they are all, let's call, in low single digits per hour workers, three, four, five dollars an hour in the eight states, bittern wage seven, eight books I think, but the average wage more like fifteen to twenty five and and assisted in um any major city would be fifty, sixty, seventy k pro probably which then put you at thirty five dollars an hour, thirty or something in that range. And so that's what I think is happening, is you you're gonna see that the celery converge on a global average for work, and then people will decide if they want the luxury item of having the person in person, to your point, like maybe one hundred fifty or two hundred fifty thousand developer coming to the office at mea, making higher decisions will be fine. That person gets two hundred fifty thousand dollars for dragged in their acts and two an office and eating, you know, thirty dollar new and ranch stakes free. And then we'll have five developers working for them for fifty k each, you know the same salary on their squad. And I think that's like gonna be a very interesting efficiency 会 IT can be tough。

Go it's going be tough for people in the U. S. Who are our customers being what you're saying is the a plus players are fine. They will work with a plus players in lower cost of living areas. What if you are b yeah, I really that bumped .

b is not Better. It's bumped .

out bees for baby I, we're done with you there. There's a lot coming here. I want to make one last point about wine. I had to quit drinking, but when I used to drink a um love scotch, my scotch taste quickly and surpassed my budget actualized. I switched to turban but I heard a really funny apology story about a scotch distillery and they got, sounds like health inspection, you know, people want to come and open the doors and look at them. And they found their room where the whisky was asian and IT was just full of cobwebs, like just an absolute mess. And help spectre, like, guys, you got ta clear this out, you can have this is your head hazard and and the whisk guys were like, but if we take them out, they've in for so long, what if that changes the flavor? All that's to say that the the alcohol industry is not exactly progressive on technology and all points, but the labor shortage will drive a demand for technology products.

And so exactly right you um do not have viBrant immigration in your country and you do the protections of thing which you know people have the right to do and societies can make that decision.

Japan certainly made one where you know you can be a citizen of japan, but they are they're trying to get people to move there to work, to fill those gaps and and they are they're quite promiscuous uh promising is when he comes to giving visas, uh but not citizenship in ager to see that blood. But if you can find workers, people are going to find other solutions. This happened in the cashier business and the concept of a cashier.

Ten years ago, you would be perplex to go into a restaurant, a quick serve restaurant and not see cashiers ah and here we are. Ten years later you would be perplexed to not see online ordering. Yeah, so things can move quickly, and humans can adapt very quickly to these singing circumstances.

Yeah, all right. Let's talk about A I, everybody is everywhere, self driving cars, breakthrough mental research and of course, business tools that make everybody Better and faster at their jobs. If A I hasn't hit your industry yet, trust me, IT is on the way and it's happening fast.

But A I requires a tunnel computing powder, you know that and those costs will skyrocket if you're not carefully have seen these bills come in can get crazy quick. And that's why it's time for you to upgrade to the next generation of cloud. And that means oracle cloud infrastructure, or O C I, O C I is a blazing fast and secure platform that covers all the basis, structure, database, APP development and of course, all your startups, A, I and machine learning needs.

Now here's the kicker. O C, I costs fifty percent less for computer and eighty percent less for network compared to other cloud options. That's a lot of savings, especially when every minute counts in the cloud.

Thousands of this have already upgraded O, C, I, including M, G, M resorts, specialized bikes and fireworks A, I. So here's your call to action right now. If you switched O, C I, oracle is offering to cut your current cloud bill in a for new U.

S. Customers with minimum financial commitment, but you'll need to access the offer ends december thirty first, twenty twenty four. See if your company qualifies for the special offer at oracle dot come flash twist, oracle slash west. Let's keep moving down the docket here. I know we got a lot to get to.

yeah. So one thing that hasn't changed, and some people wish that I would, is the rules about investing in private companies. If you are A U.

S. Citizen, Jason, uh, there is the thing. Investor credible ation program. If you meet certain threshold, you're considered to be intelligent enough to buy security that are not publicly traded. But there's some movement in the city to actually change that. But first, I want you to tell people what is IT to be an accredited investor?

sure. We have laws in this country around a creditable IT basically means that you make over two hundred thousand dollars a year or you have a million dollars in and IT combine with your spouse if you're in a couple. And so IT basically means if you're in the top five percent of earners or wealth holders in the united stature, what's called accredited, another word for this might be sophisticated, intelligent, but a credit is the word they is.

No, when you have that says, which you could have gotten from winning lottery, having a great job that pays well, um having an inheritance, any of those possibilities, could you could be involved in a some illegal activity, any of those reasons that you have accumulated wealth in the mind of the S. C, C. And our government means you can take the risk of investing in alternative assets.

Alternatives, in this case, would be private company. So you could in uber or linton before they were public. When something in's public, IT goes through a lot of vetting, a lot water sunlight, a water audits. We still have fraud in public companies, but IT is a fraction of what could happen in prime companies like the reno s or we work where you saw fraud or incompetence or just a wild west IT IT doesn't necessary even have to be fought and just be they're swinging for the fences and things can come apart at the scenes. Now the reason we do this in amErica is to protect what the government very um um condescendingly a believes that ninety five percent of the citizens here are stupid and unable to make these decisions.

At the same time, you can go on to draft kings and you know or Price picks and do a party and bet on the next so where we feel like at which i'm totally a favorite. And I think it's great you can bet on public equities um and on the march, you can do crypt o and Crystal falls into the so the question is who gets to participate in this in the reason it's important is because true earth creation and the ability to move from one strata to the next is largely determined by your ability to bed on this. And i'm saying bad because IT is a risk to make these investments in a highly volatile uh, assets.

And if you were to have the ability to invest in uber, what I was five million that could work out very well for you or if you could invest, you know IT linked in or door dash. And you know what, if you work in human resources, or you were a cab driver and you saw linked in, or you drove for uber, you would immediately want to put a thousand dollars into those companies, and you would be rewarded with thousand x or more. So i'm very much in favour of allowing people to take a test to become what alcohol sophisticated.

And actually, we have test for cutting people's hair. If you want to cut people's hair for driving cars and in some cases, for owning a firearm, in some places you can just get one. And but we don't have test for gambling on sports are going to vegas.

Sim, playing blackjack. I actually would be in favor of if somebody wanted to go to vegas and gamble, then having to take a test on each game that they play. I'm dead serious.

If you wanted to buy more than a thousand dollar chips, why not give people like a little test? Here's the rules of blackjack. Here's the rules of poker. You have to know of lush pizza straight now you can play um I would actually be OK with that and that's the same situation here.

I am just talking about how much money that would save me with regarding the game of craps throughout my life in which I put money down on the table. Magic happens and my money goes away. Connection between the things just evaporate from the table.

Um now the thing about the number of people who count as a credited investors is very interesting. The journal covered this empowering main street in amErica act, which is what we're talking about the bill in the but the thing is the number of people who meet the accredited investor test, if you were a threshold, has dramatically expanded. So back in the gage is in fibers, a number would have been dead on IT was one point eight percent of household and eighty three.

But thanks to inflation and just the changing value of money, now there's twenty four point three million U. S. Households or just about eighteen percent meet point is this, we've already allowed the accredited investor standard to delude itself so much that it's become pretty much meaningless. So then then why do we need IT? Why do we just give any of this?

I think the answer to your question is because if you were running the S C C like gargan, lor is you would have the Mandate to protect consumers above all else. And that Mandate, that means when something like F, T, X happens, you have egg on your face. You bear the brunt of that. So they are risk of verse, which is the Mandate they've been given. They are not given the Mandate to have the polarization of wealth and the wealth gap in our country close.

And that's what actually this legislation would do if people who are just are in their careers who had under two hundred thousand in network, but you know who made seventy five thousand dollars working at a venture firm or human resources or an accounting and they happen to see coin base or no um linked in, which is such a great example because so many people got their jobs on linked in or posted jobs on linked and in. Those folks would not have met in almost all circumstances the in the majority of circumstances the accredited but they would know that that was a good bad to make here. You know that that is the reason.

And incentives really matter. The incentive, the S, C, C, is not to get poor people to become middle class, or middle class people to become millionaire. That's not their mind.

Their Mandate is to protect the public and build trust in the financial system. Okay, enough. But that's that's the problem. It's sort of like with the rocket ships in the launches in california, you have the coastal commission, which, you know, I guess virtue has a virtuous mission to protect the coastline. California e's grade asset is the coast is like that.

This incredible are natural bounty, but we kind of want to get to mars and get things in space as well. But their Mandate is to protect the coastline. And okay, if you want to protect the coast line, oh, you should just say, don't build anything.

No houses, no rockets, no peer. And we had this in separate this guy. I remember in the bayer when I lived there, somebody wanted to put up this fares wheel in golden gate park. And if you remember .

that the that's a great idea. I would totally have used that .

and like people were like, you know what we don't want to have like the london giant paris wheel because um I don't want to look at IT it's in my backyard and then the other group of people are like, but kids and couples in the middle of a romance would glop there and you know, proposed to each other and I would be charming and wonderful and you know the name yers win uh and so that's really what's happening here is the incentive for one group of people is outweighing the big picture.

And then that's where leadership comes in. And this is, I think, what's happening now. People will when they make the sophisticated test than people take IT IT should be, in my mind, a three or four hour preparation for the test.

And IT should be fifty to one hundred questions. In other words, IT should be the equivalent of, I don't know, a driver's license. I think the drivers license is probably the right amount of work. You could pass the driver's license, text and practical driving with what, three or four hours of training .

don't tell sixteen year old alex, who failed at the first time.

you were probably not paying attention. So anyway, I think this is great. We're starting to see this now come up over and over again. And if we do this, it'll make amErica more competitive because more people become wealthy, more people will put risk capital to work. And the amount of appreciation in companies ultimately happens in the private market more than that happens in the public markets today. So if you were to invest in, I don't know, installer or something or read IT, how much of that occurred in the private markets? You know, I suppose to the public markets, probably a lot of the acceleration occurred in the private markets.

If you want to put that in perspective, imagine a company that was public at to say, a ten billion dollar valuation and then a year later, it's gained percent and now it's worth fourteen eight great but that means that your possible returns as a public margin investor or four percent but if you a ten million of evaluation is several hundreds and hundreds of hundreds of percent um if you want more about this is a or ten Scott south CarOlina is the driving force behind IT and IT has a lot of of us of indias.

Well, including extending the jobs s actual comes with up to two billion dollars in revenue to go public. Different rules and there's a lot to IT. But mostly I think it's a good package of things, and I hope that people don't get their faces ripped ed off too often.

I mean, could you be any worse than buying crypto coins that have no value in the real world? I can be worse than that. Could he be worse than gambling on sports? I don't think it's going to be worse than those two, and we allow those.

And I kept worse than going to vegas and playing crat. So this I dealt, I think, will be this will exist interesting in private companies will exist exactly between gambling and sports. You know, go to vegas and public markets, which seems reasonable.

There could be something right in middle, which is you invested in a company. IT was private. The founders were luna s. They took a toner risk and they lost your money. Okay, you know you you, but you only put five percent of your network into IT. So the other ninety five percent where your home, your equity is your body and your wealth brand yeah perfectly design portfolio whatever this you I remember .

this tweet that I saw this guy was like, you know, Angel investment is is the best way to have less money and I just just died because I mean, if you're Angel investing, you I mean that idea stage couple people and like three lines of code.

I really got IT you are gonna need to hit thirty, forty, fifty qualified investments according to every Angel i've never talked to. They've said between thirty and fifty is the number of bets you have to place in order to have one power law. Potentially nothing is guaranteed, potentially let you hit break even in a profit and beat what happens in a low cost index one.

Now you do have the outlaw that you could hit some grand. Sm, that's and that's reason enough in my mind to do IT with a low single digit percentage points of your network. That is the advice I would give to you.

Alex, if you told me here I wanted get involved. I say, great. And I know how much you make. Relatively speaking, you have some amount of savings, five percent or less. In other words, if you lose IT, you would make IT back on your other equities and interest that year. So if you blew out the five percent, you'd still be even right because you're probably making five percent on your existing .

equities and money like the rest of our family investments are now like zero cost index funds and low cost international bond funds. Like are my personal financial positioning as as a family is so conservative, but if this did come to be and if I wasn't trying to maintain my journalist tag, yeah I mean, also I just want to get on my friends like whatever with someone that makes a new company. I just .

wanna but yeah, I mean, that's like I I frequently get asked to invested restaurants and movies, and I have the standard joke, which is I, I, I, I would, but I, I, I like money too much, so I don't because I like money and people laugh at whatever. And I generally just pass on those investments because I know that I would never work. Now I did invest in my friend natural, his film with a group of my poker bodies um and if I did not care if I made money or lost money because that's my friend and I just wanted to see his movie do well and I did well and i'm sure we'll break either on IT .

yeah but but for example, there's a coffee store near my house that just opened up scot Brown bee seven providence and I know the owners names will lead lovely guy. I've been walking by that place where he's been on building up model limit. IT would be so cool if I could go up to me like that.

I love you. I love what you're doing. Let me put the me by ten k work through this company. But like the system isn't set up for that right now, is set up for bank loans and these other old school.

Imagine if they could put in the window. We are raising money to redo the store or it's going to be a hundred thousand dollar renovation. We're looking for a hundred of our top customers to put in a thousand dollars and web gets upgraded to a vent to O A, A large coffee. But for the Price of a regular for life, yeah help us out and you'll also own one percent of your own yeah for every ten thousand you'll one percent of million lr enterprise and you care if you wanted to support you. Look but that would be illegal currently to do.

which just sounds so ridiculous. It's anyways, we will eventually get this stuff sort of that. But uh, in the meantime, uh, I have some big A I news.

I don't know if if you lock all the OpenAI announcements this week, but three things happened. One, they did an A M A over on redit, which was incredibly well received. And I have answered to the question of where the hell is GPT. Five, in case anyone is curious where that model is, essentially send albans that, hey, we face a lot of limitations and hard decisions about how we allocate our computer resources towards ideas. So essentially, Jason, their yeah they're .

blowing through five ten million, ten billion a year in infrastructure and losing a lot of money um and that does say something that you are they're running out of band and I saw jenson wong, who was talking about you on standing up this giant uh, cluster. The build out keeps occurring. I do think the interface of GPT is superior to any other interface, but the results are not.

So I really feel like google has to make a german I APP a dedicated APP that one hundred percent of the interface is designed to be used by consumers. And I really love canvas a on ChatGPT, which allows you to right notes and clad, has had this for a while, you ask your questions. And that just keeps refreshing.

The same document, which is really nice. I was writing the liquidity overview document for the next liquidity conference um and as I was writing IT um instead of using a word processor or grammar, as I am prone to do, I did IT in canvas, a canvas in chat P. T.

And I was the first time I edit a document without editing the document I gave the A I commands to edit the document that I couldn't based IT into a grammar or a goal. I could can remember what I did, or a notion page one of those three. And so that's kind of this interesting moment.

I think we're going to a the ad and i'm also been doing um as I may have explained, when I drive my daughters to school, I put on ChatGPT s voice a application. I asked them what they're working on at school and then I have to give us quiz es on IT. So I said, hey, give us some increasingly difficult questions in american history.

And that was great. IT was fun to do with the ChatGPT. And who is the first president in the states who free slaves, who wrote the declaration of independence? You know, I was like, yeah, who did write the first to have the decoration was benko? I got IT wrong.

And I I knew that answer, but I had forgotten forty years since I was in history class. yeah. And I was just thinking about tutors.

You know, what an advantage is to have tutor's gift tutors growing up. Alex, know what? My parents afford to know what?

My dad, who was an appeal chemistry, he actually held what he called home school on friday night, night through saturday morning. We've from over, and I would sleep over endue science experiments and right poetry and exchange that they just brought into our public of education .

incredible um you know my parents couldn't afford IT, they were busy working. And so I was always a little bit jealous of my friends who had tooters. And when I got older I realized, oh poor people, or middle or middle class people don't have two days.

And all the people who I met were getting to colleges were like, yeah, no, I falling behind a man. I had a math tutor. Yeah, I was falling behind in science.

I had a science tuder. And then I was like, oh, what an incredible privilege is to have that. And now that's completely democratized with a custom AI tutor for free, for life on any subject.

Holy cow, the world will become more just because of this technology. I am so here for IT. If you have kids, try this, just get into one of these, have a two quiz and will remember where you're at and you will become superhuman sort of speak and your ability to tude.

I am very interested in how google, speaking of google, did in their earnings. I did see that youtube was a blow out quarter for youtube yeah and that they did a point nine billion incredibly revenue and advertising. And if you put those numbers together, they said they did fifty billion in revenue over last year, but thirty five billion of IT was advertised in, which means the other fifteen billion was subscription revenue.

And that to me is extraordinary. So maybe you could take us through and also the cloud had a blow out quality, but maybe searches were down. So this is really interesting. Um and I know google went up, their shares went up a bit and they were one of the ones who was maybe lagging. So let's draw in to what's happening at google and what we can look at terms of second order impacts and and what founders can sort of ascertained uh, from this incredible quarter. Yeah okay.

So in q three over a google just put some high level numbers out there. Revenue was at a point to seven billion, up fifteen percent chain. Pretty solid growth for a company of the size per share.

Two twelve. Both of those beat expectations. Now you right, google cloud brushed revenue. There was up thirty five percent to eleven point four billion. And critically, google cloud now makes money.

So a year ago, it's Operating profit was about two hundred and sixty six million. Basically break even for a company google size this quarter, nearly two billion dollars in Operating profit. Goole.

a quarter in a quarter. So I mean, this is as a stand alone company, would be an extraordinary company.

Oh, absolutely. This will be enormous public company. We would be to talking about just this company. But that's just one part of the course, google empire. On the search front, google made a lot of alpha, but I should say, made a lot of noise about how A I is actually making search Better and used by more people does not really reflect my personal use. But hey.

you know, find that unpacked back because this is, I think, critical. Sometimes we see something in a stock and what management is saying, but your own personal behavior is radically different. Explain this disparity yeah so populate quote .

from their uh their earnings transcript. Uh, alphabet said there seem strong engagement is with A I search, which is increasing overall search usage and user satisfaction, which means that the average user of google search is not me, which actually helps explain to be what google search has become because further away from what I but apparently I more in the minority than I thought. Now at your point about startups, I think that means that you really need to go talk to a lot of people and like oklahoman and not just differences, go or Austin or seattle to guard.

We are the tip of the sphere where the earlier doctors, but as earlier doctors do, the massive middle and the lag guards will eventually do. So you and I start now I think a lot of searches with an m whichever one that is, I am doing probably twenty thirty ChatGPT sessions per day. Um and then probably I do five or ten on gin.

I or claude or other L M just to test them in comparison. Uh sometimes grow when i'm on twitter. Uh x so if we look at that, I think my youth case, my default now is to ask ChatGPT.

My default is not to ask google. I think you're the same and we're try to think of the incenses when I prefer google and I find google oppressive when i'm doing almost any search. Yes, because of the number of sponsored links that are there, IT makes me a little the page exactly.

So do you. I think this is the lesson. When you run a business, if you become a monopoly, you freeze and freeze every outs of revenue out of that user base as you're supposed to do. But as you squeak and freeze that the users can slipped through your fingers to a Better solution. And I think that's what's gonna happen to do that.

The big chAllenges there is no advertising in ChatGPT IT could be you could have a links in IT, uh, when you do a search and I wouldn't mind having a couple of them, but you you kind of get the answer. And then if you get the answer to your question, how many days between this date and the date like I was doing that for the election, I would say how many days between now and november 5 um I would go to ChatGPT to do that because I was just easier， and I would get the right answer. And I ouldn't click on any links, or if I want to know, you know, um like I said, basic history effets.

I used to do that on google, find a web page on the opening, and then do IT now chat. P, T. Just steals whatever that web page had and reggina IT and take an intercepts that content.

So this is going to be very chAllenging for them. The second lesson here is probably really good idea to have multiple revenue dreams. Because no matter what happens to google search, the investment in wao, youtube and cloud are going to save the company because that they have massive revenue, fifty billion from youtube. Fifty you said they had two billion in profits. I don't know what the top one was for cloud.

IT was basically, I love point four billion in revenue and then just two billion cloud profits.

So then you have basically two fifty billion dollar your businesses in youtube in cloud. If you have a hundred billion in revenue over here, that's not surge. Uhh, that's pretty great for balancing IT out.

And we don't know um what the way more revenue is, but that is a black hole of profit. There's no profit in that. That's gond ten billion, five ten billion years for another ten years. So those wrong beats actually are probably paying on.

I think so. So a couple couple notes about that. One to put google searching comparison compared to its other businesses. Uh, google certain other the line item in alpha's earnings was just under fifty billion dollars just for two three.

So when we still think about google, keep in mind the search is still the the vast driver of its income, though I think we both agreed that that's under lot of pressure to open eye put uh, its new search product live for everyone out this week if you're on the web interface and europe pays describer. So i've been playing with this. Any good? It's great. Oh yeah, you want to share your friend child up. sure.

Don't mind that all. yeah. I I did see that they were gonna this. So this is, or this is their perplexity killer. I know plexi was very upset about this because they were used. They were built on ChatGPT and then sam decided, I shockingly, that he was gonna pete with them.

I so I I need a good querrey and i'm going to go here and push the search, the web and I get, what do you want to learn .

about um let's say, um great ski vacations for families. Think, oh.

I push the wrong button. S okay, so i'll just do that again and i'll do IT with search less time. Glad what i'm doing.

I see. So you click a different button. You click the search up the button. And then here we go and gave us a couple of images, a table. Maybe you told me to do tables.

No, I didn't, but I did at both times. Actually, this is the regular h chat B T for our response. And then this is what we got search. So, Jason, um do you prefer smuggles not big sky? Oh, I love you creep up.

So yeah. I mean, here we go. And those are all links, right? You link out to those places or no?

No, this not this can the sources button, which then brings up links to where IT pulled from and essentially IT appears. I've gone through and read every single list cal that was seo ed for google, and then compressed those down into a less forming. So this is the daly's al .

of the list al. It's a medallic al.

Yes, it's a methodical.

And this is where I think they are going to get suit to all um how and back again. And this is why the new york time should not settle their lawsuit. The york time should take IT to bed. I think they should suit on behalf content and you because if you see what chat G P is doing, they're stealing all that content processing IT, presenting IT as their own and those and then bearing the citations and links, which is decidedly more cut through than what google did with their one box, even google with the one boxes, which which is no, or their snippets under the link where they give you like one or two cents that pissed off content producers.

But at least you got some traffic from google so you could say, you know what i'll make this deal with, i'll make the deal to put my list ticals into the search and get knowing i'm going to get links and IT was this little dance that content creators, publications, red, large, made with google. You take a little bit and send us some traffic, and we're all good here. Sam men is taking everything and giving nothing to the content ders and and .

I why I would .

say this is destined to get him massively suit .

in a for me to to sap for um one hundred billion of our companies but all stand up for them here. They did note in their official cover blog was about this launch of surgeon that they are working very closely with their um existing and partnerships. So I think the idea is to lean pretty heavily on on that side of things.

One more open and I think the links at the top level, though, they obviously are being selfish with that. That's why I set out the links on the top level there. Or they buried, buried the links, I think is the key mistake here.

I know esthetically IT makes IT look Better, but IT should say from bus feed, this from here are cited by bus feed. IT should say, excited by buzzy travel osd and traveling leisure, and, you know, alex and Jason ski vacation 点 com。 And if you did that on each one of their citations, then you would have this like recognition. IT would put the fair in the fair use here.

Yes, I am with you on that, and i'll be very good to see how all plays out. But one last OpenAI think they brought at the advanced of voice feature that you are describing to to desk top this.

I didn't know that. Wow.

it's really fun. I, I, I, I can't do a demo because I can't have the audio play out of my ears into the computer. But if you are a paid H H T V T subscriber, go try out the desk top APP advanced voice mode IT feels different than you'd think because you're talking to your computer and is talking to you well, you're doing other stuff and IT feels like a different IT just feels different to me in a really cool way. I recommend to try that.

I would really love for you to be monitoring my detox right now. You and I talking we will be doing the show next year and you'll say, uh, i'll ask you, hey, how many users did um how many paid customers does uber had? And I would just come up like as a sentence while we're talking and say, according to uber two, three filing X, Y and z, and that's where it's going to get really interesting is when there's a persistent agent on your desk watching what you're doing and giving you supplemental information. I would love to have another monitor here that was my A I agent that was watching us talk and just giving me supplemental information like member pop up videos. You remember that oh, I .

member.

there was a show for pop videos.

IT would give supplement you if you had watch the aha video or you know ten years take on me, uh, I would say, you know, IT would draw line and pop up a little bubble and say, this are, you know, person you recognize from this T V shop or this? What artist was this? Who did the this drawing? Or did you notice that this person has our coffee in the background on game with bronze and they shouldn't that little remember that team I was waiting when they had a cup of box in the, I mean, that star box packed star .

box that that was a busy film in schedule. I A say, have you watched IT? I've seen A A good chunk of the first season.

but i've then I have the second thing, and I don't want to say anything, but my wife and I really enjoyed.

I want.

I want to watch you down. It's so good. Also, industry. I told you about industry, if you watch IT yet.

just, I have an A B go, baby. I I would love to fall up up on every content recommendation I get because my friends are very smart. But I uncovered and sped .

up and cry, and I saw you walk around the very cute baby on your, on your chest was .

very much arming.

What do we got in terms of earnings on where do you want to go next? Which ones stood out for you? And by the way, if they break up google, I am a google shareholder after the shareholder man I am if they spin out one, two of these businesses because it's going to unlock master shareholder of value. As a voice said, if youtube was a standalone company, IT would be worth hiding double netflix, but it's footprint.

I just realized that I didn't tell you the the most interesting thing about alphabet. S, i'm going to pull that code. A google is generated by A I, then reviewed and accepted by engineers.

google. Now, a lot of this is gonna super background, boring code, not new. U.

I, that's still an animal code. Starting with an A, I genesis. As you said, google, a company, is known for its engineering problem.

It's double, and it's going to double again. I M, we're obviously going to have robots creating robots. You know, like, imagine a factory of row.

What what you can imagine here is a factory of robots building robots. What that's what google is about to experience. There will be A I agents writing A I agents.

And when that happens and you get that fly will going, that's where people feel there is an A I risk. And you know, we saw, we talked about cloud having access to your desktop and being, you know, you can do certain things, you can do others. I can like make a purchase for you as an example, but obviously, that's what we all want.

so. Only a matter of time before these agent starts spinning, you know in in a rosy that maybe unstoppable and that I think a ten percent chance or one percent chance, but it's one that's worth looking at. And we will look back on that statement as part of that hockey stick of when he goes straight up, the p. Twenty five percent being done, fifty percent being done, ninety nine percent being done, ninety nine point five, nine, eight, all code in the world, and code we did not to be built as being built to do things we did not get to do. And of the time we figure out that we're in a simulation.

I fine with that, that final scenario because if it's all the simulation, I my score is. But another company is doing big things in A I and cloud decision, of course, is amazon. And amazon has a couple numbers that I wanted just point out to because they they blow my mind.

So A W S grew nineteen percent last quarter OK. It's now on a one hundred and ten billion dollar annualized run rate, which is bunkers. And critically, growth there has reacclimatise amazon's phrasing for the last four quarters.

That means that it's over a hundred billion dollars. IT is incredible profile on Operating bases and IT accelerating. Wow, that's got to be one of the best businesses ever built.

hands down. It's two and a half times larger than google cloud. So google cloud is catching up, right? There are a hundred billion.

This is twenty seven billion. And all of this goes back to software eating the world, as mark and Jason famously said. And people are just continuing the build out.

And these web services, whether it's asia or coa W S or G C P, are absolutely gonna the beneficial or is here as NVIDIA and big hardware and entry energy, nuclear, solar batteries, everything, uh, you need a lot of energy to keep these things growing. Soap, uh uh. And then amazon has been reducing headcount this time.

They want to do further reductions in headcount. Global has done reductions in account as as meta. See you put all this together um doing more with less static team sizes plus twenty percent growth means iya on the earnings. And I think this is going to be the bulcke for big tech and america.

Want to make one more point about this a this A I business as this A W S business. amazon. So one thing that everyone is trying to track and is how fast is A I as a business growing for both two companies, big and small, and people are very cares how much as A I demand driving growth at AWS.

Well, amazon gave us us a little information. They said, really, and I quote, A W S S. A I business is a multi billion dollar revenue running business that continues to grow a triple digit year over year percentage and is growing more than three times faster at this stage of evolution than A W S itself group.

okay. So the demand to use A I if it's multi I billion, let's pick a number three billion, it's three percent. If I was just three billion to be three percent of their early revenue of over a hundred billion, 3 percent。 Tripling a year means next year would be ten percent and then tripling again would be thirty percent.

So IT is the highest grote sector growing faster than amazon web services itself, which was just to put up web pages and storage of, you know, file. So that is an extremely telling as well. I makes sense that these workloads are what developers, startups, s and big corporations are using.

And hugging face has all these different models. Every model will be there and you're gona use a lot of compute and consumers are willing to pay for IT, right? Paying twenty about for ChatGPT is the greatest deal ever.

Oh yeah, but here's my thought for start, fountains, because AWS poin seven billion dollars in revenue last quarter, ten point five billion dollars in Operating income. There's a lot of margin in A W S. And start out are building with A I.

They're going to the hyper scale. They are planking down their harder and dollars or hard raise to dollars to use these mega computer systems to do the work for them to punch the numbers. But you're paying amazon so much margin to do the math for you. So I wonder if there's not A A case be made for more. Start getting OK I in their own hardware and just not paying what is a pretty stiff .

premium damage. Yeah I mean the good news is that uh folk psych oracle and google will give S T A R T - U P S you know a really uh large number of credit. So we have put IT in the link here, but we have a link because global and oracle or both sponsors of this week and startups, we have credits for them.

And you can check out the new website gets start up credit 点 com where I put some of our top um deals for startups and fill up the form there in the santilli get started up credit 点 com。 But yeah, this is standing up your own hardware is a bit crazy. But if people charged too much than IT could become worth IT.

And we've seen this over over again where if people charge too much, people will rack and stack them themselves. And but the one thing I will say is because of the credit economy or start up startups in the first two years tend to get taking care pretty well because there's a doggie competition between google as A W S oracle and everybody else to to get started up early. And then that's a very smart moves.

So they generally discount ty heavily. But I have seen this at times where the ban we used to be, the ban with charges were what they would kill people with in terms of overages. And people be just like law to put up servers so that I don't have to deal with a bang with charges and then bang with became commotio.

Er I mean, i'm really, really optimistic that the cost of doing AI model training and A I infringe people continue to collapse this time goes on. But right now I just I worry about the start of us trying to like build cool stuff in his payout, amazon or google so much money and and essential king venture dollars selling equity for them and then giving the profits to a big tech company. That's not what I want to see. I am going to see the start of freshly the big tech companies.

Ts, uh, you know this is gonna a you know this business is one where I think startups warned a benefiting is probably still cheaper. Um and if the good news is it's not just A W S IT used to be just A W S and the offering from google or azure was kind of mean that I would hear all the time. Oh, you know, they don't have this.

They don't have this. They don't support X, Y and z you know stacks and now dish parody across a lot of these. So if you don't like you know what your current cloud providers doing, you got two or three others you can go to I saw a question come in um and IT was on the lower third. I guess that's a new feature we .

have here with this uh live shaming software that we can .

yeah so that .

lower there. And are I, Jason.

take a away as guard invest as what sectors, verticals? And I do they think is interesting for startups. Um are they going back to what we saw earlier when there is um a pilot that could be perfected and it's repeatable? Man, there's something Better.

So we have a company tax GPT that stone wonderfully. And you just think about taxes or legal services. Uh looking at um x rays, all of those things or a mechanic, we have a uh a firm master tech that you just interview.

And so you know like something like master tech is the perfect example of vertical zed A I where you have a data set that needs to be cleaned up, a model that needs to be created, and then the actually on the interface, the learning, uh, around IT still needs to be built up. Is not like you can go into a language model and be leg, how do I fix this car and you're going to a get a great experience for a master technician. But master tech AI, which were investors in and you to interview this week, they are gonna build.

Everything are around that and keep you up to date so that an actual master technician, just like our guest earlier, just like a mass servente picker of grapes, those kind of things are a great place. So that's why I think, you know, having an ideal customer profile and over servicing them is, has has always been and will always be in an accentuated hear in this age of ai. The way to go.

alright, think, is an entirely different direction. great. I think that humans are incredibly lonely. And I think that there is going to be a market, especially for older folks on our species ages to have uh, digital friends.

So one thing that i'm really interested in is, uh, when do I get to make a buddy? I, I, I want to AI body much like my, my dog. Magi is my best. I like we've built a bond over years together. I would like to have a digital .

friend in that way. I just think you bring that up. I've been pitched a number of times recently of people who are trying to figure out had to create companionship or equity mity through journal or sessions or chat sessions with individuals so you have Better health than you know like uh, marketplaces to put you with a coach or a therapist.

Then you have ChatGPT over here in character AI when you talk to a character from a movie movie. But somewhere in the middle, you know, maybe not to deal with depression, anxiety. Acta, yes, not to role play like dangerous.

And dragon s could be what you're talking about, which is, hey, someone have somebody who asked me really good questions that I can talk to that you know, maybe I can release some tension and have like this, uh, little AI buddy, I think it's coming there. There is a lot to part there, right? You don't.

We had care. We had somebody commit suicide. And tragically in february, using character ai, they had a discussion, I don't know here and I talked about .

IT around the show. We didn't actually get talk about IT on the show. IT was one of the door, I think, lower down and just there's more than we can get to in a week. In that case, I I, as someone who has children, my heart literally bleeds for the parents, but I I struggle, depend the blame on a chat pot, much as I don't think that grandpa dota is the driving forced behind car jacket. S .

yeah. So in this case there was an individual who was obviously suffering a Young person, fourteen, fifteen years old, they believe, and they were having this role play with a character. And then I don't know that the character encourage them. To commit suicide, but I didn't not encourage them.

I understanding, I think, because I think the kid was going to pull for memory here, everybody yourself, I get the sliding wrong. Just understand that we're talking about this with real gravity and and respect for human life but I I think the kid was talking about like going home as a as a ufos m for suicide and I don't think the character that he was talking to head any idea about the new answer that and so can you say that he was encouraging him to do that and its responses it's very, very dicey. The best take away that I have your juste is that my children will never have phones.

Yeah I mean it's definitely something to think about IT. Um and these things also have um yeah so the lawsuit um the dialogue was I promise I will come home to you. I love you so much, danny, I love you to dinero. Ah the chapt responded that he said, please come home to me as soon as possible my love what if I could come home right now?

Settle continued I think that's the unadulterated and the chatbot responded, please do my sweet king so to your point um the ChatGPT is just spouting generation in a random dialogue scenario and the child here tragically is taking that as a call to commit suicide you know potentially to blame the technology on this. I think this is you again, as much as our hard bread for IT. It's just spouting jeb ish.

We were kids. We would go into chat rooms a, well, I can. You serve anonymous ly, and there were all kinds of chat rooms that came out anonymously. And yeah, IT was random and uh yeah quickly became sexual, violent, crazy like the internet. And these kind of chat rooms were insane and dragged in my recollection of my child in one hundred and eighty five, eighty six, eighty seven. I was fourteen and fifteen and sixteen years old and bolton board systems had the most dragged insane profit checks going on and kids were involved in them with adults so long way of saying you've got a monitor kids use on these device ah and hearts go out to the family here that was so tragic.

Why do we end on a completely different and positive note? So good news. J, and I have two clips for you because earlier you were talking about chinese .

evs and all the crazy stuff stuff in.

So I two more to, I went out in the internet. I hunted, I packed, I searched, I found one. I wants to show you a video of the show me S U seven, which is a car.

They mic ultra, which is a fifteen hundred horsepower, very enon IT. You can't actually. But but here is a video of the show me as try going around the neural ring, the famous huge truck in germany.

And I have selected A A part of IT called the parcel. And uh, we have the clip, I think cute up party. So let's take a look at the show me going around the carousel. You can, you can hear IT, but IT sounds like a very angry hamster.

This is an evy, or this is .

an electric baby. Went around the nearby gring, and I think IT was six minutes and forty six .

record with the place, right? With special tires, special engines, these things are absurdly fast right now.

But show me Jason makes sense. Oh, they also make crazy supercars bonkers are they? Just goes to show how many companies in china are involved, the evs, the quality and the progress.

Second video um you're familiar with the company neo N I O, the chinese E V brand. Yes, OK turns out they have a power like a battery swap system and it's not in its first or second or thirty thousand and fourth and generation. I want to show you a video of nios fourth generation power swap station, essentially a place to drive them.

Get a new battery and get out. Here is the guy um going in and then the the computer takes his car over for him and IT backs in and then he gets any battery in. I think this version is three minutes, uh, which is faster than the one before.

Yeah, I remember tesla had showed this back in the day, like maybe ten years ago, they had a similar technology. And I think the problem with this is, is whose battery packer you get. So these battery packs are were thirty thousand dollars, let's say, where they were.

Maybe they weth fifteen thousand now, sure. 嗯， so i'm driving to vegas. You swap my battery out. You give me a new battery.

What if you give me a battery that's got one hundred thousand miles on the mine, has a hundred. And do I come back and get my battery back? That was the key issue with this battery.

So I think what will have to happen, and these will work really well for robot taxes. Oh yeah, I think the other thing that's happening as well is when you back one of these in, you can now get uh, inductive charging. So I wonder if this is even going to be necessary. The use case for this is i'm driving across country and I don't want to stop for an hour to super charger and have lunch and get a full charge or whatever, two hundred and charge. And I found when I had my car, the only time I had to even use a super charger when I lived in the bay area, was going to taro and going to los Angeles.

So with the two drives, when I had to stop at a supercharger on the way back from to ahoo to the bay area, because I was downhill, I did not need to stop the super charger with the model y when I had the model lex, IT was two stops or half an hour each, because the model lex had a two hundred about battery. When I went to a three hundred twenty five mile battery, this went away, coming back, and IT went too. But could you have to go up this giant hill on the way to toho, which uses probably fifty percent more battery I to stop for twenty minutes to top the battery um uh, with the super charges because the super charges eventually got really fast and six hundred, seven hundred miles in an hour IT could do so.

You would basically get two hundred miles in under half an hour. The first two hundred miles were really fast. The use case here doesn't really exist for this hot swap able batteries in my mind, except when we did our robot taxi overview member, we said, hey, six hours may be of charging a day because you're driving two or three hundred miles, hundred, three hundred small battery ponies, then you charge an hour, then you try for five or six hours, then you charge for two hours or an hour. You know that is, uh, the case were swapping the battery yet wouldn't matter because it's not your batter is not owned by any one person and two, you can get in around three minutes, I supposed to thirty, sixty, ninety minutes to recharge the full battle. So I do like this for for that use case, but flit around logic.

Imagine instead of buying a car with a battery, right? Imagine just bought a car and then for fifty box a month to access batteries.

I think that's eventually what could happen here too. Yeah, as you could just have your battery be abstracted away from the car ownership yes, because by and that's not a bad idea to .

I don't need to own a gas station, why I need to own a battery.

But where this really is going to be important is gonna in vitals. So this same technology, when you're a vital, you are using a lot of battery and you have to have the precise amount um because the weight to power ratio really matters, right? Because if you put too much battery in our car is no big deal.

You're driving you get next one hundred, two hundred miles. But when you're flying, obviously the weight is the key issue. Yeah so i've seen in the way ones where the veitch come in, they land, they get on a can very about the battery pops out of one side, 那 slight in the other snakes in and takes off again。 And that's kind of what you want.

Some I love, I I love, I just am a big all the above guy like I love that we have super charges in the U. S. I love they were talking about united plugs for I don't battery swapping.

I know they are doing hyde cars in japan. Let's go. Let's just keep push this thoughts. We can, but that's an update from china. Those out in june, the new neo charging platforms swap atom and I out so AR I like the clip at that guy who he went to show city to give a test.

The cars coming out of china are bunkers. Um we have talked about them before here. They're incredibly cheap. And I think what you going to see the cars in india, pakistan, south america, africa, just basically we are emerging in frontier markets are going to come out of china. They're gonna be blocked from being in the united states, in the west, just like value is blocked.

why? Because the light states and the west do not want the chinese to have self driving cars on our friends that could be used and shut down our economy if we were in a conflict with china, uh, just like we wouldn't want china spying and also spying. So I know this sounds crazy. We will block all chinese imports h of cars indefinitely because of those issues.

Great, great subway. So recently a start up called sky dio there a drone startup doing business. They just got sanctioned in china because they are salt and drones to the taiwan is fire .

department interesting. I knew Scott o they've been on this program. Um they make trades for public safety yeah and that's fascinating.

So i'm trying to get the guide of guy on the show for a news record next week. I'm kind of like breaking my own work here, but I really wants to talk about the sanctions because who is a Better perspective right now of the geopolitical tensions between china in the U. S. From a harder perspective probably guide you. So if everyone works out well, everyone next week .

have the CEO on. So you know, like D, G, and in the reverse, D, G, I, I have A D, G I drone, like D G I drones. Um I believe those are, that's a chinese company. Correct you? Correct you want. So yeah, I think this giant stand off with china, he is going to continue and IT is in the best interest of the west to not be as dependent on china as we've been yes. And everyone .

agrees with that. Even companies that are notorious chinese bulls like apple, for example, going back to americans, yes um every three months I see a new headline out of their indian manufacturing, which is like they're moving up the value that they started to make like older models.

cheaper models they used to make the like. Yeah whatever that S E the head some name for the the apple phone that was like for kids or your entry level. But now the iphone fifteen, I think is made in .

india and they're doing the process as well. And so that's the diversification were seeing sko all say the rest for a on just we should. We ve been on for a while a while. Three shows next week.

Maybe let's do IT, let's do IT. Monday, wednesday day coming at twelve o'clock central, one P M, coast and ten on the left coast. If you have ideas for stories, you want alex and I to cover hot takes.

Guess whatever is. H, he's alex. alex. I'm at Jason. So just at Jason, at alex, tell lish you saw the show. Tell us what you like. And also alex and I are in the comments on youtube. Interesting with you huaca see you next time by bye.