[ { "start": 0.0, "end": 8.5, "text": "Whenever you have something assigned of what your saying, where somebody just adds AI to a name or to a press release and their stock price goes up." }, { "start": 8.92, "end": 13.9, "text": "That for me is one of the signs of nearing the top above bubble right?" }, { "start": 14.42, "end": 21.48, "text": "When when you go into a taxi in that and taxi drivers telling you about AI then You know you're probably at the top of a bubble." }, { "start": 24.44, "end": 32.34, "text": "So welcome to another edition Tech report and welcome to my co-host, Alvin van Greiland." }, { "start": 32.4, "end": 33.1, "text": "Hello, Alvind!" }, { "start": 33.32, "end": 33.88, "text": "Good to see you" }, { "start": 34.1, "end": 35.26, "text": "again." }, { "start": 35.3, "end": 35.96, "text": "I'm very good." }, { "start": 36.02, "end": 37.56, "text": "i'm looking forward to coming to Berlin." }, { "start": 38.24, "end": 38.56, "text": "okay" }, { "start": 38.72, "end": 42.36, "text": "yeah in a few weeks and autumn is coming autumn is come." }, { "start": 42.56, "end": 44.8, "text": "we are eating into hot ai." }, { "start": 44.94, "end": 53.88, "text": "autumn agents are getting stronger valuation are getting bigger and china's moving very fast." }, { "start": 55.38, "end": 59.66, "text": "The bubble debate is getting louder and louder more or less every day." }, { "start": 59.82, "end": 62.44, "text": "So let's look what matters now right?" }, { "start": 62.54, "end": 64.879, "text": "Now are you have your first new seatbelt?" }, { "start": 66.06, "end": 66.38, "text": "I'm ready." }, { "start": 66.58, "end": 67.12, "text": "bring it Okay," }, { "start": 69.26, "end": 72.46, "text": "so for years tech companies fought for our attention." }, { "start": 72.9, "end": 75.6, "text": "now AI wants Our trust." }, { "start": 75.76, "end": 80.24, "text": "a I knows that it remembers us And it advises us." }, { "start": 80.4, "end": 84.88, "text": "so my question to you guy is Are we moving from attention to trust?" }, { "start": 86.96, "end": 87.1, "text": "Well," }, { "start": 88.06, "end": 88.18, "text": "yeah." }, { "start": 88.42, "end": 92.06, "text": "I think this is the last few years or the last ten or twenty years." }, { "start": 92.12, "end": 92.84, "text": "with social media." }, { "start": 93.04, "end": 99.48, "text": "it's all about tension and just anybody saying anything that grabs your attention stays an extra second makes an extra click." }, { "start": 99.56, "end": 100.52, "text": "That's how people want it." }, { "start": 100.74, "end": 107.26, "text": "um i think right now that uh essentially With AI content can be you know creation Can Be Free." }, { "start": 107.74, "end": 116.22, "text": "Anything that You Can Imagine can be turned into something in the video or, and to any form that people want." }, { "start": 116.3, "end": 118.84, "text": "So content is actually becoming commoditized." }, { "start": 120.5, "end": 123.94, "text": "now it's really about whether not people believe this is something real." }, { "start": 124.36, "end": 125.76, "text": "This is from somebody they trust." }, { "start": 125.8, "end": 132.42, "text": "so absolutely I think The idea of moving from attention to trust Is critical because there was a recent report That came out." }, { "start": 132.92, "end": 139.62, "text": "if you If someone knows as some things coming From AI value immediately drops by like ninety five percent." }, { "start": 140.44, "end": 144.8, "text": "So, essentially because it's so easy to make content." }, { "start": 144.88, "end": 148.96, "text": "now nobody values what AI creates." }, { "start": 149.6, "end": 153.58, "text": "It is the brand you build behind that gives value." }, { "start": 154.54, "end": 158.56, "text": "But the problem is it just becoming if it is becoming emotional media?" }, { "start": 159.0, "end": 165.44, "text": "you trusted much more than maybe your family or Your lawyer somebody else because he said right now." }, { "start": 165.8, "end": 171.48, "text": "If Google says, okay with Google Maps go on left side then on right side You do it because you do not question It." }, { "start": 172.16, "end": 178.82, "text": "yeah but if you do if you ask Maybe I asked you give me some advices for Seattle He would tell me and say oh no i don't believe it?" }, { "start": 184.14, "end": 189.56, "text": "At least I believe much more in the technique and Claude, an AI than people." }, { "start": 191.76, "end": 195.24, "text": "Yeah for informational lookup you're absolutely right." }, { "start": 195.5, "end": 199.88, "text": "there are people who essentially their entire day is being decided by AI." }, { "start": 199.96, "end": 203.7, "text": "they ask AI everything which to be honest i think it's not necessarily healthy." }, { "start": 204.06, "end": 215.62, "text": "It's essentially You're delegating your agency To these systems we becoming less human Let less intelligent in some ways." }, { "start": 215.66, "end": 216.96, "text": "There was there is some recent research." }, { "start": 217.06, "end": 226.98, "text": "I came out that they were showing Children these days when they use AI day, uh They're you know When they have AI assisted and their normal homework?" }, { "start": 227.36, "end": 231.02, "text": "When they do tests without the AI Their actually quality goes down significantly." }, { "start": 231.72, "end": 234.72, "text": "And then it just means that they they are floating." }, { "start": 234.76, "end": 237.42, "text": "uh, their decision-making and agency." }, { "start": 237.74, "end": 242.72, "text": "And I think this is something that as parents we need to really think about it even actually as adults right?" }, { "start": 242.86, "end": 258.48, "text": "Like you're saying if everything you go to cloud or your Gemini ask for a confirmation um You know...you become overly dependent on technology." }, { "start": 259.2, "end": 265.92, "text": "Yeah We need have enough understanding of how the world works so that we have common sense." }, { "start": 266.46, "end": 267.8, "text": "We need to bring them back a little bit." }, { "start": 268.84, "end": 270.82, "text": "Do you believe there is regulation." }, { "start": 272.48, "end": 277.14, "text": "young people shouldn't use it under the age of thirty or twelve years?" }, { "start": 280.34, "end": 294.46, "text": "I don't think they can control this, because right now age verification isn't really well done you know, if-if you don't let young people, y'know, thirteen underuse it." }, { "start": 294.86, "end": 296.74, "text": "This is one that actually was used properly." }, { "start": 296.78, "end": 298.78, "text": "It's one of the best educational tools out there." }, { "start": 299.42, "end": 304.1, "text": "Uh...it's a way for children to accelerate their ability To understand things." }, { "start": 304.16, "end": 305.52, "text": "That would be very difficult." }, { "start": 305.6, "end": 309.52, "text": "You're asking something like take this Very complex geopolitical problem." }, { "start": 309.84, "end": 316.0, "text": "Explain it to me Like I'm ten And for a child, they can do that and make it understandable in the language." }, { "start": 316.32, "end": 326.78, "text": "I don't think we want to take that away from children, but the key is really about the order of usage." }, { "start": 327.02, "end": 333.2, "text": "Do you go to AI first for the answer or do you think about it first and then say hey this what am i missing?" }, { "start": 333.24, "end": 344.68, "text": "What did i get wrong if in reverse order Children can get a lot out of technology that augments what they didn't know versus replacing thinking." }, { "start": 346.04, "end": 348.22, "text": "But what do you think in a few years?" }, { "start": 348.76, "end": 354.38, "text": "What will a child of twelve or eleven years would say, my first boyfriend is Claude." }, { "start": 358.46, "end": 359.24, "text": "I believe it's Claude!" }, { "start": 360.14, "end": 384.28, "text": "Yeah unfortunately the systems are being trained that they're rewarding engagement The same way that social media was rewarding engagement, a lot of the AI systems are making their tools try to keep people on longer and build more relationships." }, { "start": 384.54, "end": 403.74, "text": "So this is why I don't know if you know but in about a month ago or maybe less than that China enacted their anthropomorphic agent policy that essentially forbids Chinese AI models from creating boyfriend-girlfriend relationships." }, { "start": 404.28, "end": 406.42, "text": "So there was a couple of models." }, { "start": 406.48, "end": 417.82, "text": "I was doing this and they actually had to shut down because the government said you cannot do these services where you create personal relationships with your users." }, { "start": 420.12, "end": 422.04, "text": "Let's have look at Google." }, { "start": 422.4, "end": 430.48, "text": "for twenty years ago Google gave us links, until now they are giving as links and agents give results." }, { "start": 431.04, "end": 435.14, "text": "I used to ask Google where should i go for holiday on holiday?" }, { "start": 435.34, "end": 439.38, "text": "And I got my answer not a real answer but research result." }, { "start": 439.94, "end": 449.74, "text": "Now an agent will say okay would like you book your holidays all included and flights, hotel everything will be there." }, { "start": 450.18, "end": 455.14, "text": "And my question is does Google have to kill a search before someone else does it?" }, { "start": 456.66, "end": 459.4, "text": "Well in some ways they've really embraced it." }, { "start": 459.68, "end": 463.56, "text": "They included AI into every aspect of your services." }, { "start": 463.64, "end": 476.0, "text": "now It's kind of embedded The strange thing which I actually don't know why this is, but their search revenues have actually not gone down in the last year or so." }, { "start": 476.26, "end": 484.46, "text": "I would've expected a sharp drop because everybody I know like it's doing what you're saying that they really are not searching as much as uh...they used to." }, { "start": 484.5, "end": 493.32, "text": "You know i probably searched maybe one-third of how much I use too versus going into an AI system and asking for questions." }, { "start": 493.84, "end": 505.06, "text": "So um..but may be its because these These search functions, the AI is actually allowing them to target better so that they're getting a better click through." }, { "start": 508.16, "end": 515.72, "text": "Maybe they're able to generate more per click or more per view than the used two so they can maintain this and I think This is really the trend." }, { "start": 515.78, "end": 516.14, "text": "Is that?" }, { "start": 517.02, "end": 522.659, "text": "The whether you are talking about agents, Or your talking about search They're going to get more and more personalized." }, { "start": 522.7, "end": 540.66, "text": "we're gonna understand You better And by making it more targeted they will deliver a level service That was not possible before and i don't know if you probably have heard the Gemini has their personal intelligence, where they link to your email and photos in your browsers." }, { "start": 541.04, "end": 543.02, "text": "And so they really know everything about you." }, { "start": 545.28, "end": 549.56, "text": "In some ways there also going be able do the purchase for you right?" }, { "start": 549.66, "end": 559.4, "text": "So I think over time that will start transfer more of their services to agent-based services beyond just a pure lookup search." }, { "start": 559.88, "end": 562.66, "text": "So, but I don't know how long it's going to take." }, { "start": 562.72, "end": 563.82, "text": "It is actually taking." }, { "start": 564.34, "end": 570.44, "text": "the impact of AI on search revenues is surprising me in terms of how little that impact this." }, { "start": 570.9, "end": 576.08, "text": "yeah The first day I wave and the first they are with gave us answers a lot of answers." }, { "start": 576.16, "end": 578.34, "text": "so then X wave does work." }, { "start": 579.06, "end": 589.2, "text": "we have EI researchers AI rights AI codes And well at least it takes action to do it." }, { "start": 589.26, "end": 589.5, "text": "for me?" }, { "start": 592.14, "end": 595.3, "text": "Yeah, I think that's definitely where things are going." }, { "start": 596.1, "end": 603.52, "text": "The more we allow these agents to integrate into our applications the easier things will get." }, { "start": 604.78, "end": 613.42, "text": "In fact this morning when were talking about using your AI with video editing something like where you can just say, add this effect to the scene." }, { "start": 614.46, "end": 635.12, "text": "That would not have been possible a year ago and so that these type of things are happening we will definitely offload tasks conversation actually be in an interface increasingly more with our systems or devices versus using keyboards." }, { "start": 638.12, "end": 640.4, "text": "now let's talk about money." }, { "start": 640.96, "end": 643.3, "text": "I think, you know talk about money." }, { "start": 643.42, "end": 651.96, "text": "Money is from simply read a wonderful song and Right now we see that Well especially well in Germany." }, { "start": 652.06, "end": 656.1, "text": "all over the world if you put AI on something it is worth immediately Something." }, { "start": 656.18, "end": 657.52, "text": "And If You Go To The Stock Market?" }, { "start": 657.58, "end": 659.08, "text": "You Say This Is An AI Company." }, { "start": 659.56, "end": 661.74, "text": "It Is Worth Much More Than Before." }, { "start": 663.46, "end": 664.8, "text": "So Where Are We Right Now?" }, { "start": 664.88, "end": 670.72, "text": "Do You See Something that is overvalued, overrated." }, { "start": 671.24, "end": 682.72, "text": "We have seen the dot-com bubble burst on the internet world but now we see Amazon and Google really big And are very near to the bubble?" }, { "start": 682.86, "end": 684.04, "text": "To the birth of a bubble." }, { "start": 685.32, "end": 691.72, "text": "Yeah I mean... career, multiple bubbles and multiple burstings." }, { "start": 691.8, "end": 700.8, "text": "And whenever you have something assigned of what your saying where somebody just adds AI to a name or press release their stock price goes up." }, { "start": 701.24, "end": 705.16, "text": "that is nearing the top." }, { "start": 706.02, "end": 706.22, "text": "Right." }, { "start": 707.1, "end": 713.78, "text": "when you go into a taxi and the taxi driver is telling you about AI Then, you know You're probably at the top of a bubble." }, { "start": 714.96, "end": 732.46, "text": "Um, so we clearly have this Overvaluation but nobody can tell you when it really pops because sometimes The irrationality people as far more than that We would sometimes expect But it definitely will." }, { "start": 732.6, "end": 745.74, "text": "in fact if you look the Buffett indicator, which has been a long time essentially process of understanding whether or not a market is overvalued." }, { "start": 746.0, "end": 757.48, "text": "If the stock market the GDP of the country." }, { "start": 757.56, "end": 763.68, "text": "In fact, AI sector just the stocks related to AI is worth more than total GDP in the country." }, { "start": 764.2, "end": 769.9, "text": "so I think that's a relatively bearish sign correction coming" }, { "start": 771.3, "end": 785.1, "text": "and maybe before the correction is coming and Tropic is planning an IPO we see fast growth huge valuation And we see enterprise AR." }, { "start": 785.26, "end": 792.1, "text": "We see not only Claude, there is a lot more in that topic but the question is what are investors really buying?" }, { "start": 794.18, "end": 802.48, "text": "Yeah so I'm actually a little bit worried about this sector That i think Anthropic." }, { "start": 802.66, "end": 814.62, "text": "if it goes IPO you know It will release information About how these industries Is being financed today And actually, maybe it becomes the needle that pops a bubble." }, { "start": 818.58, "end": 823.06, "text": "I know people have been saying look how quick this... this industry is growing." }, { "start": 823.12, "end": 829.86, "text": "because you look at Anthropic Revenues, early in the year they were at ten billion ARR which was annualized run rate." }, { "start": 830.64, "end": 835.0, "text": "Which just means that this week their revenue went to a certain number and multiplied that times." }, { "start": 835.08, "end": 835.76, "text": "fifty two weeks." }, { "start": 836.68, "end": 842.1, "text": "I actually don't think those numbers are very representative Because recent data came out." }, { "start": 842.14, "end": 852.6, "text": "They said even though right now say they have seventy million dollar run rate, their total revenue for the first half of that year was only about sixteen billion dollars." }, { "start": 855.04, "end": 866.18, "text": "There's a very big gap between you know total revenue versus run rate and they also don't talk is what is the profitability?" }, { "start": 866.34, "end": 870.34, "text": "And the profitability are losing somewhere around three to four million per quarter." }, { "start": 871.02, "end": 884.32, "text": "so if your revenues You're making eighteen or sixteen billion dollars in the first half, but you are losing eight to ten million dollars." }, { "start": 887.0, "end": 889.2, "text": "That doesn't seem like a very profitable business." }, { "start": 889.6, "end": 907.24, "text": "and also this is not accounting for a lot of forward payments that don't get reflected on these costs because things like model training is actually amortized over years whereas the spend happens right now." }, { "start": 908.7, "end": 929.46, "text": "So we really need to dig a little bit deeper in terms of understanding of AI model makers and AI labs because as you've probably read in my prior the AGI Windfall Mirage paper, I don't believe that is where value will crew." }, { "start": 930.26, "end": 935.44, "text": "Even though everybody thinks this year they're going to a hundred billion by end-of-the-year In AR." }, { "start": 935.54, "end": 943.66, "text": "but next year there'll be a trillion dollars And then after it would have been ten trillion dollars They'd be bigger than the entire GDP right?" }, { "start": 943.88, "end": 949.2, "text": "This what you hear on podcasts like All In, that they say this trend will continue forever." }, { "start": 949.74, "end": 952.66, "text": "And unfortunately we live in the real world where it doesn't happen." }, { "start": 952.98, "end": 969.26, "text": "and if you look at what happened recently with some news now, it looks like the OpenAI has actually caught back up to Anthropic is now overtaking Anthropic in terms of revenues and users again." }, { "start": 969.48, "end": 977.12, "text": "So I think you know that expectation that Anthropic will be continuing a trend they have." }, { "start": 978.66, "end": 980.4, "text": "It's going to very questionable" }, { "start": 981.08, "end": 983.08, "text": "Okay, but I think they have one Joker." }, { "start": 983.54, "end": 988.64, "text": "and this is because right now our company we use more and more Claude." }, { "start": 988.88, "end": 990.68, "text": "And it's quite cheap Right Now." }, { "start": 990.8, "end": 993.44, "text": "But what will happen in a few weeks?" }, { "start": 993.52, "end": 999.68, "text": "And if you say okay the license so It costs you The double or it would cost too much more." }, { "start": 999.84, "end": 1005.64, "text": "So i think that there are no perfect position then Because We Are More Less Addicted Than To This Service." }, { "start": 1006.44, "end": 1011.02, "text": "Yeah, so you're addicted to it right now because the prices are affordable." }, { "start": 1011.1, "end": 1015.36, "text": "If the prices do go up Most people will look for alternatives." }, { "start": 1015.5, "end": 1018.88, "text": "and when you have your GLM five point three When you have Kimmy Three?" }, { "start": 1018.98, "end": 1019.56, "text": "You know." }, { "start": 1019.74, "end": 1027.859, "text": "deep-seek four all of these services right now based on the tests Are within two percent of the capabilities." }, { "start": 1028.859, "end": 1035.76, "text": "And you know, last week they just came out with deep-seek harness which now essentially does everything that clock code does but it's completely free." }, { "start": 1035.839, "end": 1036.4, "text": "You can download." }, { "start": 1038.74, "end": 1041.74, "text": "and the price of operating this is essentially the price at electricity." }, { "start": 1042.28, "end": 1048.28, "text": "or it's in pennies per million tokens versus tens of dollars per billion tokens." }, { "start": 1049.18, "end": 1054.2, "text": "That say two orders a magnitude difference In some cases." }, { "start": 1055.9, "end": 1058.14, "text": "When your cost is spending fifty-sixty dollars, it's fine." }, { "start": 1058.38, "end": 1063.88, "text": "But when you're costs are spending fifty thousand dollars per month or in some cases millions of dollars for months to go from millions." }, { "start": 1063.92, "end": 1066.94, "text": "a dollar two thousands of dollars Or tens of thousands the dollars." }, { "start": 1067.68, "end": 1068.3, "text": "people switch" }, { "start": 1071.9, "end": 1071.96, "text": "The" }, { "start": 1072.1, "end": 1072.38, "text": "U.S.," }, { "start": 1072.42, "end": 1079.54, "text": "they are dominating the big AI models like Claude, like OpenAI and so on especially here in Germany." }, { "start": 1080.2, "end": 1082.0, "text": "And then we have another player We have China." }, { "start": 1082.24, "end": 1088.26, "text": "They have a strength of manufacturing and robotics autonomous cars drones factories." }, { "start": 1090.38, "end": 1091.0, "text": "What do you think?" }, { "start": 1091.06, "end": 1093.16, "text": "America wins digital AI?" }, { "start": 1093.42, "end": 1095.64, "text": "And China is winning the physical AI." }, { "start": 1097.0, "end": 1108.96, "text": "Yeah, so I think the physical side is a much clearer question right now or clear answer in the sense of you know ninety plus percent of Robotics human robotics last year was coming from Chinese companies." }, { "start": 1109.36, "end": 1120.66, "text": "In fact none of these None of the US labs right now or European robot makers, human and robot makers are shipping in volume in commercial sense." }, { "start": 1122.02, "end": 1123.34, "text": "Only China is doing it!" }, { "start": 1123.98, "end": 1134.48, "text": "And even in China there's only two to three companies that account for eighty percent total Chinese Shipments even though there's more than a hundred and fifty robot makers in China." }, { "start": 1134.64, "end": 1140.92, "text": "So I feel like there is a bubble in that space, and they will be consolidation Particularly in China." }, { "start": 1141.06, "end": 1148.62, "text": "It'll go down from you know triple digits to double digits very soon Probably single digits maybe within the next two years." }, { "start": 1149.18, "end": 1156.44, "text": "so I thought your first question is, has China won?" }, { "start": 1156.9, "end": 1159.58, "text": "Not necessarily long term but at least they are very much in the lead." }, { "start": 1160.54, "end": 1169.48, "text": "And given that they have entire supply chain and ecosystem around hardware manufacturing... ...I don't see them losing their lead." }, { "start": 1170.64, "end": 1185.84, "text": "In fact right now America robot makers are actually going to China, to buy parts and smuggle it back because recently there was new restrictions forbidding Chinese materials be brought into America." }, { "start": 1185.94, "end": 1188.58, "text": "And Chinese robots so in America." }, { "start": 1189.64, "end": 1196.62, "text": "So they're trying protect the market but some ways is hindering domestic robot maker here." }, { "start": 1198.9, "end": 1207.64, "text": "Actually on your second question about digital intelligence I think digital intelligence, nobody will win because it is a free good." }, { "start": 1208.46, "end": 1214.82, "text": "And just like electricity—nobody won electricity!" }, { "start": 1215.92, "end": 1219.02, "text": "Nobody really wins anything." }, { "start": 1219.08, "end": 1220.54, "text": "that's global public goods." }, { "start": 1221.34, "end": 1238.26, "text": "in fact the more valuable these things get when there are more standardization and cross-pollination With the prevalence of open source and the capabilities of open-source models today Everybody will win." }, { "start": 1239.0, "end": 1239.74, "text": "The digital side" }, { "start": 1241.64, "end": 1243.58, "text": "Okay, that's quite interesting." }, { "start": 1243.86, "end": 1250.36, "text": "So let's have a look at next few months not to next year's forecast for the next years are not twenty thirty." }, { "start": 1251.16, "end": 1252.62, "text": "What are you watching most closely?" }, { "start": 1255.86, "end": 1259.0, "text": "You know, in terms of the AI space or any technology space." }, { "start": 1259.42, "end": 1260.2, "text": "What" }, { "start": 1260.26, "end": 1261.52, "text": "are what are the headlines off?" }, { "start": 1261.58, "end": 1266.22, "text": "The next few weeks a few months before Christmas" }, { "start": 1268.96, "end": 1269.48, "text": "I think you're." }, { "start": 1269.56, "end": 1277.34, "text": "one other news that came out last week is quite interesting cancer vaccine was created." }, { "start": 1278.3, "end": 1289.62, "text": "You know, the fact that now it's just to give you a little background... Cancer is different than normal virus in the sense of a cancer is actually your own cells so it has to be personalized." }, { "start": 1289.68, "end": 1297.72, "text": "every single cancer vaccine has to based on your own cell and genetics otherwise they get rejected right?" }, { "start": 1299.88, "end": 1303.24, "text": "From that perspective, potentially personalized medicine is now started." }, { "start": 1304.44, "end": 1332.9, "text": "And the fact we can do this has massive implications over healthcare because right now at least in America more than I think ten or fifteen percent of total spend going into health care sector and burden on the spend, particularly when the last year accounts for over eighty percent of total health care costs." }, { "start": 1333.8, "end": 1347.94, "text": "So if we can solve some of these issues that money could then be put into infrastructure and other things to make quality-of life better and help provide social safety nets with potential displacement." }, { "start": 1352.46, "end": 1352.88, "text": "Good news." }, { "start": 1353.12, "end": 1362.14, "text": "It is the really fantastic news, I think it's about skin cancer that we have progress and a breakthrough here." }, { "start": 1363.36, "end": 1365.44, "text": "so more has to come – more will come!" }, { "start": 1365.66, "end": 1368.18, "text": "And i think this could be fantastic." }, { "start": 1370.16, "end": 1372.96, "text": "So if you look at where did your value accrue?" }, { "start": 1376.14, "end": 1377.98, "text": "right, not to the labs." }, { "start": 1378.48, "end": 1395.84, "text": "And here's the other thing to remember is that for specialized use cases whether you're talking about a law or you're a multi-trillion parameter model, you don't need mythos to do those." }, { "start": 1395.9, "end": 1405.12, "text": "You actually want specialized personalized models that are customed to the industry trained on an industry so it doesn't make your poetry while making new medicine." }, { "start": 1407.54, "end": 1415.8, "text": "and most of these models have very small drug discovery models with hundreds or millions of parameters not trillions." }, { "start": 1416.64, "end": 1422.72, "text": "So when people think that, oh you know because I have the best language model now i can make the best drugs." }, { "start": 1422.88, "end": 1426.06, "text": "Uh...I think we need to separate those two concepts." }, { "start": 1427.1, "end": 1430.08, "text": "and what is really interesting in this time?" }, { "start": 1430.78, "end": 1446.98, "text": "You do not need a big company ,you don't need a lot of money And he's coming together with five other guys, and they are building a laser weapon." }, { "start": 1447.04, "end": 1452.34, "text": "They can shoot drones within the five hundred meters of a laser weapons." }, { "start": 1452.9, "end": 1459.4, "text": "It is pretty new that they have done it by themselves – only five people who had breakthrough in this technology!" }, { "start": 1460.1, "end": 1469.42, "text": "Yes I think... technology and AI can really help new startups, right?" }, { "start": 1470.34, "end": 1473.42, "text": "In the sense of when you're starting at a green field." }, { "start": 1473.54, "end": 1483.08, "text": "You don't have existing processes or workflows to change which is of implementing and adapting to AI." }, { "start": 1483.56, "end": 1484.76, "text": "It's not the technology, right?" }, { "start": 1484.8, "end": 1494.68, "text": "Based on that report I wrote earlier this year at The Stanford Enterprise AI Playbook, you know, eighty-ninety percent of issues were completely non-technology related." }, { "start": 1495.12, "end": 1502.06, "text": "so when your small company... You can build everything around AI significantly more efficient, you know ten times more efficient." }, { "start": 1502.1, "end": 1514.9, "text": "But if you already have an existing company of a hundred thousand people to then implement it You'd have to get people to change how they work and changing people takes time And that takes a lot of work as you know." }, { "start": 1515.8, "end": 1516.18, "text": "I Know that." }, { "start": 1516.76, "end": 1521.64, "text": "so in Alvin we are just finishing our show As always." }, { "start": 1523.62, "end": 1526.24, "text": "at least the final question what is on your mind?" }, { "start": 1526.72, "end": 1529.1, "text": "What do to tell us?" }, { "start": 1530.08, "end": 1531.7, "text": "what is very interesting in your..." }, { "start": 1532.92, "end": 1539.16, "text": "I mean the thing, last week or two i've been preparing for my trip to Burning Man and this year at Burning Man." }, { "start": 1539.24, "end": 1540.68, "text": "I'm doing a economic research!" }, { "start": 1540.88, "end": 1561.78, "text": "I am trying to evaluate if the gifting economy of Burning Man a proto-economic model for a post scarcity AI future, right?" }, { "start": 1561.82, "end": 1562.82, "text": "Or AGI Future." }, { "start": 1563.32, "end": 1586.16, "text": "And I'm really intrigued by this because I feel like we are potentially moving to world where you know AI and robotics and bio, AI assisted biology is going make lot of the productivity work that we've spent our last thousand years building." }, { "start": 1586.58, "end": 1588.08, "text": "doing that for us, for free." }, { "start": 1588.64, "end": 1594.06, "text": "And it allows this to be then refocused on things that matter more to our society you know?" }, { "start": 1594.12, "end": 1601.7, "text": "Things like relationship with each other art and music and an expression which is what a lot of What Burning Man Is About." }, { "start": 1601.78, "end": 1621.66, "text": "so I'm really looking forward to see if i can either confirm or maybe I guess debunk whether or not this type of a model is something that would extend to a broader future beyond the eighty thousand people in the middle of the desert." }, { "start": 1622.56, "end": 1628.1, "text": "That sounds wonderful, it's really very interesting and amazing!" }, { "start": 1628.14, "end": 1635.1, "text": "And i would love if you will tell us on stage at Big Bang AI Festival what do we have seen?" }, { "start": 1635.22, "end": 1640.14, "text": "What are your thoughts about our future?" }, { "start": 1641.1, "end": 1645.3, "text": "In a nutshell, what does Burning Man do for me?" }, { "start": 1649.42, "end": 1654.12, "text": "We can have a nice little cozy session about that sometime during the festival." }, { "start": 1655.36, "end": 1655.36, "text": "I" }, { "start": 1656.34, "end": 1662.52, "text": "love it, but before we see us again because It's two and a half weeks And i hope after burning man We have another show." }, { "start": 1663.14, "end": 1665.24, "text": "And then berlin is showing up his coming?" }, { "start": 1666.44, "end": 1668.08, "text": "Thank you everybody for watching Us." }, { "start": 1668.58, "end": 1671.98, "text": "if You Have any question please send us an email and thank you alvin." }, { "start": 1672.28, "end": 1674.18, "text": "i wish your wonderful trip to." }, { "start": 1674.38, "end": 1675.84, "text": "i think it's in nevada always." }, { "start": 1676.06, "end": 1676.18, "text": "yes" }, { "start": 1676.58, "end": 1677.16, "text": "Yes, Nevada." }, { "start": 1677.26, "end": 1688.3, "text": "It's just called Black Rock City, Nevada is actually a new city that gets built and destroyed every year when it's existing as the third largest city in Nevada." }, { "start": 1688.34, "end": 1690.34, "text": "Yeah, eighty thousand people." }, { "start": 1690.58, "end": 1690.74, "text": "Yes" }, { "start": 1691.58, "end": 1697.72, "text": "If it is destroyed everything's clean after that right because yes about Everything right?" }, { "start": 1697.96, "end": 1699.26, "text": "That dad Dad Is actually." }, { "start": 1699.32, "end": 1706.06, "text": "the one thing that really surprised me when I went last year was that you know Everybody really cared about this concept of leave no trace." }, { "start": 1706.1, "end": 1708.22, "text": "You know you take out everything you bring." }, { "start": 1708.36, "end": 1713.36, "text": "anytime somebody sees a piece of garbage on the floor They just pick it up they put in your pocket and then date day Take it with them." }, { "start": 1713.76, "end": 1714.24, "text": "And they didn't." }, { "start": 1714.52, "end": 1716.52, "text": "even people are very very serious about this." }, { "start": 1716.9, "end": 1718.24, "text": "You know, it's not just a saying." }, { "start": 1718.32, "end": 1723.0, "text": "It's actually being practiced by everybody who is there and that... That's amazing." }, { "start": 1723.04, "end": 1728.76, "text": "when you have eighty thousand people in no garbage And-and There are no garbage cans anywhere in the city." }, { "start": 1730.0, "end": 1730.54, "text": "No garbage?" }, { "start": 1730.72, "end": 1731.3, "text": "No passion?" }, { "start": 1731.46, "end": 1732.0, "text": "No drugs?" }, { "start": 1732.12, "end": 1732.74, "text": "No alcohol?" }, { "start": 1733.98, "end": 1735.48, "text": "Well I don't know about other parts." }, { "start": 1735.52, "end": 1738.4, "text": "Thankyou" }, { "start": 1738.44, "end": 1738.78, "text": "very much!" }, { "start": 1739.24, "end": 1740.76, "text": "That was The Big Bang Tech Report." }, { "start": 1741.24, "end": 1741.94, "text": "See you soon." }, { "start": 1742.08, "end": 1743.76, "text": "thank you Everybody for watching us." }, { "start": 1744.36, "end": 1745.54, "text": "Take care see you Berlin." }, { "start": 1746.08, "end": 1748.04, "text": "See you, bye-bye!" } ]