Whoosh! That Really Was a Week in Tech: Winner-Take-All AI and the $1 Trillion Selloff

1
00:00:00,120 --> 00:00:01,980
Hello, my name is Andrew Keen.

2
00:00:02,100 --> 00:00:07,890
Welcome to Keen on America, the daily show
about everything that matters with the

3
00:00:07,890 --> 00:00:10,890
world's leading commentators and thinkers.

4
00:00:30,585 --> 00:00:31,424
Hello everybody.

5
00:00:31,424 --> 00:00:33,945
It is Saturday the 7th of February.

6
00:00:33,945 --> 00:00:36,195
I am talking to, as
always, from San Francisco.

7
00:00:36,195 --> 00:00:40,635
Tomorrow is the Super
Bowl, the annual American.

8
00:00:41,699 --> 00:00:44,160
Celebration of all things football.

9
00:00:44,160 --> 00:00:50,519
Um, one piece in the Financial
Times talks about how the NFL became

10
00:00:50,580 --> 00:00:52,500
America's true national pastime.

11
00:00:52,500 --> 00:00:55,620
It's the one thing that brings
Americans together, and of course

12
00:00:55,620 --> 00:01:01,319
it's taking place tomorrow in Silicon
Valley and the heart of San Jose.

13
00:01:01,319 --> 00:01:03,360
But as it happens, uh, the.

14
00:01:04,260 --> 00:01:08,250
Super Bowl is not bringing
Silicon Valley together.

15
00:01:08,250 --> 00:01:09,720
In fact, it's dividing them.

16
00:01:09,720 --> 00:01:12,270
That's been the big story
of the week out here.

17
00:01:12,710 --> 00:01:17,130
Anthropic have a big ad about the
absence of advertising in their

18
00:01:17,130 --> 00:01:20,655
product, and Sam Altman has lashed out.

19
00:01:20,685 --> 00:01:26,985
Keith, I know you are a keen observer
of all things ChatGPT and Anthropic.

20
00:01:26,985 --> 00:01:33,075
What should we make of this
latest, um, spat between Altman

21
00:01:33,705 --> 00:01:37,025
and Anthropic; Dario Amodei

22
00:01:37,365 --> 00:01:41,385
well, the, the, the joke on the
streets here is, um, of course

23
00:01:41,385 --> 00:01:42,765
Anthropic doesn't have ads.

24
00:01:43,590 --> 00:01:45,270
Because it doesn't have consumers.

25
00:01:46,050 --> 00:01:48,960
Um, and so ads would play no role for it.

26
00:01:48,960 --> 00:01:53,370
Whereas OpenAI has hundreds of
millions of consumers, many of

27
00:01:53,610 --> 00:01:55,350
whom use the service for free.

28
00:01:55,860 --> 00:02:00,060
So ads make sense, but the, the
more serious point underneath

29
00:02:00,060 --> 00:02:07,020
that, um, pushback is to do with
the content of Amodei's ads are

30
00:02:07,020 --> 00:02:08,610
basically fundamentally dishonest.

31
00:02:09,884 --> 00:02:11,204
Uh, and deceitful.

32
00:02:11,415 --> 00:02:17,115
Uh, he's making the point that OpenAI
plans to have the AI tell you different

33
00:02:17,115 --> 00:02:20,505
things based on what it's trying to
sell you, which is just not true.

34
00:02:21,045 --> 00:02:22,095
Um, and, but it's,

35
00:02:22,280 --> 00:02:25,935
when was the last time Keith, you ever
saw an honest ad? By definition, those

36
00:02:25,935 --> 00:02:30,465
are ads by definition at dishonest, so I
don't know why we should object to that.

37
00:02:30,465 --> 00:02:35,355
Um, uh, uh, Altman had
an interesting ex-post.

38
00:02:35,355 --> 00:02:41,100
Uh, he acknowledges that the philanthropic
ad. Is funny and it made him laugh, but

39
00:02:41,100 --> 00:02:46,290
he says, and and it's interesting that
the way he frames it, he suggests that

40
00:02:47,100 --> 00:02:49,470
most people can't afford anthropic.

41
00:02:49,470 --> 00:02:50,310
It's too expensive.

42
00:02:50,310 --> 00:02:55,070
Only wealthy people use Anthropic
and therefore the OpenAI.

43
00:02:55,575 --> 00:02:59,204
Advertising model is actually
suited for less well off people.

44
00:02:59,204 --> 00:03:00,255
It's an old argument.

45
00:03:00,255 --> 00:03:02,144
It was made back in the Web 2.0.

46
00:03:02,144 --> 00:03:02,954
Age as well.

47
00:03:04,035 --> 00:03:04,245
Yeah.

48
00:03:04,245 --> 00:03:08,715
Look, I've, I, I've
advocated for, um, not ads.

49
00:03:08,775 --> 00:03:11,745
I don't like the word ads
'cause it conjuress up exactly

50
00:03:11,745 --> 00:03:14,625
what, uh, Amodei is implying.

51
00:03:15,255 --> 00:03:18,644
Uh, but paid links, a paid, a paid link.

52
00:03:19,350 --> 00:03:22,800
Uh, if relevant to the context
can be a helpful thing.

53
00:03:22,800 --> 00:03:26,310
And I, I see that more and more
actually in places like Instagram

54
00:03:26,730 --> 00:03:30,240
where the ads are relevant to
something I'm kind of interested in

55
00:03:30,540 --> 00:03:32,190
and I don't object to them as much.

56
00:03:32,610 --> 00:03:37,320
So I think, I think there's a smart
way for Altman to be right and I

57
00:03:37,320 --> 00:03:39,960
think for sure am day has done.

58
00:03:39,990 --> 00:03:43,140
It is a good marketing move by
him, don't get me wrong, but it's.

59
00:03:43,485 --> 00:03:46,035
And you're right, ads are doula.

60
00:03:46,875 --> 00:03:51,585
Um, but it isn't like the
Apple 1984 ad, which was.

61
00:03:52,125 --> 00:03:58,305
Truly symbolizing, um, a shift and a
change in Apple's position in the world.

62
00:03:58,725 --> 00:04:01,335
Thi this is just, um, childish.

63
00:04:01,335 --> 00:04:06,885
I mean, it's like playground stuff, so
it doesn't, it doesn't really, uh, you

64
00:04:06,885 --> 00:04:11,295
don't draw the conclusion that Anthropic
is breaking through to a, to a new,

65
00:04:11,505 --> 00:04:12,195
oh, they're coming back.

66
00:04:12,195 --> 00:04:15,585
I hadn't thought of the, uh, the
Apple 84 ad, but the anthro, uh,

67
00:04:15,645 --> 00:04:17,954
the Apple 84 ad was very much.

68
00:04:18,399 --> 00:04:20,890
Directed against IBM and their model.

69
00:04:20,890 --> 00:04:24,430
So it was equally childish in the sense
that they were bashing their rival.

70
00:04:25,060 --> 00:04:26,895
Yeah, it, it, it was childish, but.

71
00:04:27,945 --> 00:04:34,035
Luckily for Apple, it reinforced a true
theme in the real world, whereas no one

72
00:04:34,035 --> 00:04:38,835
in the real world thinks that Anthropic is
looking out for the interest of consumers,

73
00:04:39,045 --> 00:04:40,695
'cause it isn't a consumer company.

74
00:04:41,025 --> 00:04:41,265
It's

75
00:04:41,265 --> 00:04:41,895
just, well, I use it.

76
00:04:41,895 --> 00:04:43,035
I'm a consumer.

77
00:04:43,035 --> 00:04:44,775
I'm not sure that's an entirely true.

78
00:04:44,775 --> 00:04:50,295
Um, Altman's been ridiculed, uh,
according to the BBC, at least for

79
00:04:51,075 --> 00:04:53,325
what they call his online tantrum.

80
00:04:53,325 --> 00:04:54,854
Do you think it reached a nerve?

81
00:04:54,945 --> 00:04:58,395
Uh, Altman's usually a fairly
smart, self-controlled guy.

82
00:04:58,395 --> 00:05:00,735
Why, why did he respond so angrily?

83
00:05:01,724 --> 00:05:04,485
Well, it goes to the
roots of his personality.

84
00:05:04,485 --> 00:05:11,985
I mean, Al Altman is, um, you know, a
somewhat deceitful and devious person

85
00:05:11,985 --> 00:05:14,194
himself, probably more so than Amodei.

86
00:05:14,745 --> 00:05:17,565
And when you get under his
skin, a bit like Trump.

87
00:05:18,405 --> 00:05:21,224
He reacts and, and, and
that's what happened there.

88
00:05:21,675 --> 00:05:26,385
Um, you know, if you look at
the other player, uh, Demis, uh,

89
00:05:26,534 --> 00:05:27,925
Hassabis

90
00:05:28,544 --> 00:05:35,985
um, of the three, he's the most,
you know, uh, I'd say fundamentally,

91
00:05:36,435 --> 00:05:38,174
intellectually honest of the three.

92
00:05:38,534 --> 00:05:40,544
Well, it's interesting you
put him in their company.

93
00:05:40,544 --> 00:05:43,724
He is, of course not the CEO
of Google, although he runs.

94
00:05:44,865 --> 00:05:47,355
DeepMind, he's the Google AI chief.

95
00:05:47,625 --> 00:05:50,505
I wonder, Keith, whether
one could argue that.

96
00:05:51,205 --> 00:05:53,925
Altman was already
irritated enough this week.

97
00:05:53,955 --> 00:05:58,305
Anthropic's had a remarkable week,
uh, a breakout moment according to the

98
00:05:58,305 --> 00:06:06,465
FT with the launch of, um, their new,
uh, version of, uh, of, of Claude,

99
00:06:06,885 --> 00:06:08,805
which has really riled the markets.

100
00:06:08,805 --> 00:06:11,664
How big a week has it been,
do you think, for Anthropic?

101
00:06:11,685 --> 00:06:15,075
And do you think that's the real
reason why Altman has lashed out?

102
00:06:15,975 --> 00:06:19,665
Well, look, j just to frame it, uh,
I think the answer to that is no.

103
00:06:19,955 --> 00:06:26,165
Because literally the day after that,
anthropic Launch ChatGPT launched

104
00:06:26,285 --> 00:06:35,380
version 5.3 of of its, um, modeled,
which was a very similar leap.

105
00:06:36,360 --> 00:06:39,690
The Anthropic one, and indeed
yesterday I spent most of yesterday

106
00:06:39,690 --> 00:06:43,170
playing with both of them, and I'm
an anthropic user, as you know.

107
00:06:43,200 --> 00:06:43,830
We talked about, are you a

108
00:06:43,830 --> 00:06:44,400
consumer?

109
00:06:44,400 --> 00:06:44,850
Keith?

110
00:06:45,900 --> 00:06:46,230
Never.

111
00:06:46,290 --> 00:06:49,900
Nevermind whether I'm a consumer,
but I am now a convert to OpenAI.

112
00:06:49,920 --> 00:06:51,380
I used OpenAI to do the You

113
00:06:51,380 --> 00:06:52,729
But you've always been a convert.

114
00:06:53,320 --> 00:06:55,150
No, I've used Anthropic forever.

115
00:06:55,150 --> 00:07:00,520
I don't, I don't use OpenAI um, uh,
because I see it as a consumer app.

116
00:07:00,520 --> 00:07:04,059
I'm, uh, and I'm using it for
real use cases in my work.

117
00:07:04,270 --> 00:07:10,000
But yesterday I switched to OpenAI because
the, the new is called, uh, OpenAI Codex,

118
00:07:10,000 --> 00:07:11,830
which is an app that runs on the Mac.

119
00:07:12,330 --> 00:07:15,390
Uh, not to be confused with the
codex they've had for months.

120
00:07:16,110 --> 00:07:21,450
And it is, it is, um, it and
Anthropic, and this is both of them.

121
00:07:21,690 --> 00:07:23,100
Uh, so this is the big story.

122
00:07:23,100 --> 00:07:29,280
Both of them have introduced, um, the
ability for the interface, the chat

123
00:07:29,280 --> 00:07:34,920
interface to launch multiple workers, if
you will, or agents in their language.

124
00:07:35,340 --> 00:07:38,250
So if you give it a task
that has multiple skills.

125
00:07:38,925 --> 00:07:41,955
It will spin up an agent for
each of those skills and they'll

126
00:07:41,955 --> 00:07:43,425
collaborate with each other.

127
00:07:43,845 --> 00:07:46,845
In the case of Anthropic, they
literally talk to each other.

128
00:07:47,145 --> 00:07:51,765
In the case of OpenAI, there's a, a,
a kind of a boss agent that each of

129
00:07:51,765 --> 00:07:55,875
the other agents talk to one-on-one,
but they're all collaborating on

130
00:07:55,875 --> 00:07:58,215
your job and the outcome of the job.

131
00:07:58,425 --> 00:08:01,965
And it can take, you know, anywhere
for depending on the complexity

132
00:08:01,965 --> 00:08:05,295
of the job, anywhere between
10 and 15 minutes to complete.

133
00:08:06,015 --> 00:08:08,115
And it replaces.

134
00:08:09,060 --> 00:08:09,840
Software.

135
00:08:10,409 --> 00:08:12,989
You know, you don't, you don't
really use software anymore.

136
00:08:12,989 --> 00:08:13,320
You use

137
00:08:13,755 --> 00:08:14,880
Yeah, I mean, that's the headline.

138
00:08:14,880 --> 00:08:15,719
Keith, say it again?

139
00:08:15,719 --> 00:08:16,770
It replaces software.

140
00:08:16,770 --> 00:08:18,299
I mean, that's a massive statement.

141
00:08:18,299 --> 00:08:22,169
You've been hinting at this now for
months, but it, this seems to be the

142
00:08:22,169 --> 00:08:28,859
week where the promise of replacing
software has become a reality with

143
00:08:29,549 --> 00:08:35,970
the launch of Claude Opus 4.6 and of
course the new ChatGPT, uh, a lot of

144
00:08:35,970 --> 00:08:37,595
the headlines this week have been about.

145
00:08:38,549 --> 00:08:42,870
And, and this one is about
Anthropic Anthropic triggering

146
00:08:42,870 --> 00:08:44,610
a a trillion dollar sell off.

147
00:08:44,640 --> 00:08:49,650
When we talk about replacing software,
it means that software companies are in

148
00:08:50,100 --> 00:08:54,569
suddenly being dramatically hit on the
markets and, and in every other sense.

149
00:08:55,710 --> 00:08:56,010
Yeah.

150
00:08:56,010 --> 00:08:57,895
I mean, if we define software as.

151
00:08:59,579 --> 00:09:04,829
Take my Creator automation.ai,
which I built for myself with AI.

152
00:09:05,490 --> 00:09:09,510
I didn't use it this week because
the OpenAI agents were better than

153
00:09:09,510 --> 00:09:15,089
my software, and, and that's me
grandfathering my own software, or

154
00:09:15,089 --> 00:09:16,110
that's the wrong word, isn't it?

155
00:09:16,110 --> 00:09:22,380
Retiring my own software, which was custom
built for my use case, and OpenAI now

156
00:09:22,380 --> 00:09:27,449
does a better job than my software, and
by the way, saves me about two hours.

157
00:09:27,870 --> 00:09:30,689
That otherwise I would've
had to use the other.

158
00:09:30,720 --> 00:09:35,160
The other one is Claude Bart, which
has now been renamed to Open Claw.

159
00:09:35,520 --> 00:09:35,910
Yeah.

160
00:09:35,910 --> 00:09:41,400
You've got, uh, you, you quote
in your post of the week, um, om

161
00:09:41,400 --> 00:09:45,420
who says Open Claw is ht, HAWT.

162
00:09:46,530 --> 00:09:51,000
Well, and OOII, I put it to
work on my newsletter as well.

163
00:09:51,000 --> 00:09:53,520
Two, I, I actually produced
two copies of my newsletter.

164
00:09:53,520 --> 00:10:00,900
One with OpenAI, uh, and one with Openclaw
and, uh, actually a third one with Claude

165
00:10:00,900 --> 00:10:04,260
and Claude didn't, wasn't very good.

166
00:10:04,380 --> 00:10:06,750
Um, for my use case, it's probably good.

167
00:10:06,840 --> 00:10:10,560
Uh, other things, it's very good in
Excel, for example, if you use the

168
00:10:10,560 --> 00:10:12,570
Claude Plug into Excel, it's fantastic.

169
00:10:13,260 --> 00:10:18,870
Um, but, um, both Open Claw and OpenAI
did a actually a really, really good job.

170
00:10:18,900 --> 00:10:25,530
Now, the nice thing about Open Claw is,
um, I can embed its persona in a telegram.

171
00:10:26,115 --> 00:10:32,175
Uh, uh, account and I can talk to it and
ask it to do things from anywhere in the

172
00:10:32,175 --> 00:10:36,795
world, and it's running on my computer
at home and will carry out my tasks.

173
00:10:37,635 --> 00:10:44,985
So when, when you put it all together this
week was a massive shift in how you use

174
00:10:44,985 --> 00:10:47,925
AI and how productive it can be for you,

175
00:10:47,955 --> 00:10:48,285
right?

176
00:10:48,290 --> 00:10:51,405
And, and let's talk about the
impact on the rest of the market.

177
00:10:51,405 --> 00:10:52,545
As I said, um.

178
00:10:53,339 --> 00:10:58,140
Some people believe that this latest
version of Anthropic's Claude triggered

179
00:10:58,140 --> 00:10:59,550
a trillion dollar se sell off.

180
00:10:59,550 --> 00:11:00,905
What will it mean to companies like.

181
00:11:01,605 --> 00:11:04,995
Adobe middle market companies
look at the stock price.

182
00:11:04,995 --> 00:11:09,345
It's dramatically collapsed over the last
few days, and, and they're not alone.

183
00:11:09,345 --> 00:11:12,465
The same has happened with PayPal
and many other software companies.

184
00:11:12,495 --> 00:11:14,085
Yeah, Salesforce.

185
00:11:14,145 --> 00:11:15,015
Um, uh,

186
00:11:15,045 --> 00:11:17,295
yeah, and Salesforce used to
be a cutting edge company.

187
00:11:17,295 --> 00:11:19,050
Now it appears more and more archaic.

188
00:11:19,870 --> 00:11:24,730
Workday, I noticed that Workday, um,
all, all, all of these companies have had

189
00:11:24,730 --> 00:11:26,890
massive reductions in their share price.

190
00:11:27,699 --> 00:11:30,520
I mean, in a way, Google is
lucky to be in the AI game.

191
00:11:30,520 --> 00:11:32,319
If it wasn't, it would've had a similar.

192
00:11:33,030 --> 00:11:37,380
Reduction based on workspaces
and, and, and, um, you know,

193
00:11:37,410 --> 00:11:38,910
Google Docs and all that stuff.

194
00:11:39,480 --> 00:11:46,290
So, so ba basically what's happened is the
stock market has moved away from software

195
00:11:46,290 --> 00:11:48,600
companies and SaaS companies as well.

196
00:11:49,290 --> 00:11:53,400
It, it, it can't yet move towards AI
companies because they're not listed yet.

197
00:11:53,490 --> 00:11:54,270
They, they probably,

198
00:11:54,270 --> 00:11:55,050
well, Google is.

199
00:11:55,740 --> 00:11:59,010
Google is, but actually Google had
a bit of a drop this week as well.

200
00:11:59,430 --> 00:12:00,510
'cause it's a hybrid.

201
00:12:01,305 --> 00:12:05,535
Um, and, uh, and you know, I don't
believe it will stay a hybrid.

202
00:12:05,535 --> 00:12:08,204
I think it's gonna go the whole
way and become an AI company.

203
00:12:08,564 --> 00:12:11,775
Uh, unlike saying Microsoft,
which had a huge hit this week

204
00:12:11,984 --> 00:12:13,844
because it's deemed to not be an AI

205
00:12:13,844 --> 00:12:14,055
company.

206
00:12:14,055 --> 00:12:16,155
And, and Amazon, Amazon
had a terrible week.

207
00:12:16,155 --> 00:12:21,255
I mean, just to put things in
perspective, um, Google, Google's

208
00:12:21,255 --> 00:12:22,604
numbers came out this week.

209
00:12:22,604 --> 00:12:23,505
They beat.

210
00:12:24,300 --> 00:12:26,070
Expectations dramatically.

211
00:12:26,070 --> 00:12:31,770
And yet, uh, the stock declined even
though they committed $185 billion

212
00:12:31,770 --> 00:12:33,990
this year to investment in AI.

213
00:12:33,990 --> 00:12:40,020
So it does reflect the complete shift
in, in the way the markets are viewing

214
00:12:40,590 --> 00:12:42,750
tech companies and their valuations.

215
00:12:42,960 --> 00:12:43,290
Yeah.

216
00:12:43,290 --> 00:12:43,350
Yeah.

217
00:12:43,350 --> 00:12:45,750
Although I, you know, I, I
think we should say out loud.

218
00:12:46,740 --> 00:12:49,290
Google are doing the right
thing by doing that and Oh,

219
00:12:49,650 --> 00:12:49,949
absolutely.

220
00:12:49,949 --> 00:12:54,329
And Amazon, I think, committed
$200 billion and, and their, their,

221
00:12:54,329 --> 00:12:58,140
their stock, uh, lost about 10%.

222
00:12:58,140 --> 00:13:04,170
And, and Microsoft, of course,
um, is increasingly looking of all

223
00:13:04,170 --> 00:13:12,585
these tech giants the least able
to, uh, embrace AI, or at least as

224
00:13:12,810 --> 00:13:17,235
well, it, it's become a utility in the
AI world, a bit like Oracle, Microsoft.

225
00:13:17,400 --> 00:13:21,105
It, it isn't a player except
at the infrastructure layer.

226
00:13:21,135 --> 00:13:24,525
And it, it will be able to charge
a rent for that infrastructure

227
00:13:24,525 --> 00:13:26,705
through Azure as it does to OpenAI.

228
00:13:27,015 --> 00:13:31,140
But it, it isn't gonna be the company
that transforms our experience.

229
00:13:31,180 --> 00:13:31,500
Right.

230
00:13:31,500 --> 00:13:32,620
And they're, they're cloud numbers.

231
00:13:33,795 --> 00:13:39,165
Uh, in, if not in crisis, certainly
in decline, especially compared to

232
00:13:39,195 --> 00:13:41,535
to, to glue to Google's cloud numbers.

233
00:13:41,595 --> 00:13:43,695
So even on that front,
they're not succeeding.

234
00:13:43,995 --> 00:13:47,655
The other thing to bring into this,
'cause I think it's part of it, is

235
00:13:47,655 --> 00:13:50,905
the merger between SpaceX and XAI.

236
00:13:50,985 --> 00:13:52,965
Yeah, I was gonna bring that up.

237
00:13:52,965 --> 00:13:54,195
I mean, Elon Musk as.

238
00:13:55,130 --> 00:13:58,939
Regular viewers, listeners to the
show, knowing our conversations.

239
00:13:58,939 --> 00:14:03,500
I'm not a big fan, but you have to admire,
I mean, he thinks very clearly on this.

240
00:14:03,500 --> 00:14:07,100
And according to The Economist,
he's betting his business empire on

241
00:14:07,100 --> 00:14:11,720
AI by merging XAI, uh, and SpaceX.

242
00:14:11,750 --> 00:14:15,110
So he's, he's part of this
dramatic week, isn't he?

243
00:14:15,590 --> 00:14:15,770
Yeah.

244
00:14:15,770 --> 00:14:19,970
I mean, I think if you measure
the effectiveness of the CEOs

245
00:14:20,060 --> 00:14:24,800
in, uh, or leaders in this
space, he's the most definitive.

246
00:14:25,230 --> 00:14:28,470
You know, he says, this is what's
gonna happen, here's what I'm gonna do.

247
00:14:29,340 --> 00:14:34,680
He then does it, and you know, in
his case, he, it's, um, audacious.

248
00:14:34,680 --> 00:14:38,220
He wants to put apparently a
million satellites into orbit,

249
00:14:38,220 --> 00:14:42,480
which are effectively data centers
for AI processing, using the

250
00:14:42,480 --> 00:14:45,090
power of the sun to, to fuel 'em.

251
00:14:45,660 --> 00:14:50,100
And, you know, there's no doubt
even that's a huge audacious goal.

252
00:14:50,280 --> 00:14:53,220
He reckons by 36 months from now.

253
00:14:53,940 --> 00:14:58,260
Most of the power needed to run data
centers and AI will be in space.

254
00:14:58,860 --> 00:14:59,910
Um, who we'll see.

255
00:14:59,910 --> 00:14:59,970
Yeah.

256
00:14:59,970 --> 00:15:03,930
Which is interesting because
Google this week came out with more

257
00:15:03,930 --> 00:15:09,930
initiatives about their AI energy
race, investing in earth bound energy.

258
00:15:09,930 --> 00:15:12,690
So that's gonna be an interesting story.

259
00:15:12,690 --> 00:15:16,410
Keith, a couple of months
ago we did a show on AI.

260
00:15:16,410 --> 00:15:18,510
It seems every week we do a show on AI.

261
00:15:18,510 --> 00:15:23,430
We talked to, or you argued that
the AI race is a myth and I. Argued

262
00:15:23,430 --> 00:15:27,119
that it's a bit of a wacky race
every week there's a new leader.

263
00:15:27,659 --> 00:15:31,949
Has anything changed this
week in terms of the order?

264
00:15:31,949 --> 00:15:38,889
We have Google, we have Microsoft, we have
OpenAI, we have Anthropic, we have XAI.

265
00:15:38,909 --> 00:15:43,139
Has anything dramatically changed
or is it just that AI is moving

266
00:15:43,139 --> 00:15:45,209
ahead of the rest of the tech world?

267
00:15:46,530 --> 00:15:48,119
Uh, AI is moving ahead.

268
00:15:48,300 --> 00:15:48,899
Um.

269
00:15:49,349 --> 00:15:54,990
It's, we, it's easy to forget this, but
the first player who stepped up to this

270
00:15:54,990 --> 00:15:57,359
new level of functionality was Kimi.

271
00:15:57,720 --> 00:16:05,010
K 2.5 is the version, which is a
Chinese, uh, system that started this

272
00:16:05,010 --> 00:16:10,349
concept called agents swarms to, uh,
put a swarm of agents against a task.

273
00:16:11,040 --> 00:16:13,079
That was three weeks ago, I think.

274
00:16:13,470 --> 00:16:16,619
So the last three weeks have seen Kimmy.

275
00:16:16,990 --> 00:16:21,990
OpenAI and, and anthropic
leapfrog Google actually.

276
00:16:21,990 --> 00:16:26,069
So Gemini now is a generation
behind again and no doubt is

277
00:16:26,069 --> 00:16:27,540
already working on not being.

278
00:16:27,540 --> 00:16:28,829
So it is like the wacky race.

279
00:16:28,829 --> 00:16:31,829
It's every episode or every week
it seems to be a new leader.

280
00:16:31,829 --> 00:16:34,050
One pulls ahead, one falls behind.

281
00:16:34,050 --> 00:16:35,730
Is there a dick dastardly here?

282
00:16:35,730 --> 00:16:38,490
Is it, I mean, for me,
of course it's Musk.

283
00:16:38,490 --> 00:16:40,829
Uh, for others it's Altman some.

284
00:16:40,829 --> 00:16:42,750
It's Dario Amdis.

285
00:16:42,750 --> 00:16:45,030
It does it really depend
on one's own perspective.

286
00:16:47,280 --> 00:16:51,720
I vaguely watched that show when I
was a kid, but I can't, uh, I haven't

287
00:16:51,720 --> 00:16:56,490
got your ability to link it to what's
going on, so, so I don't know who

288
00:16:56,490 --> 00:16:58,379
is Dick dastardly in this context.

289
00:16:58,379 --> 00:17:04,800
The, the bad guy chasing down all everyone
else and cheating is probably Amodei.

290
00:17:05,159 --> 00:17:10,290
If there is one, because he's, he's
just using marketing and lying to

291
00:17:10,290 --> 00:17:13,470
try to look better when he, when
he actually isn't any better.

292
00:17:14,939 --> 00:17:16,919
In other words, he's as
bad as everybody else.

293
00:17:17,310 --> 00:17:17,669
Yeah.

294
00:17:19,050 --> 00:17:24,630
And the focus of your editorial this week
is that the CEOs are not growing up, but

295
00:17:24,630 --> 00:17:29,700
does that reflect again, the reality of
our AI age or however smart AI becomes

296
00:17:29,700 --> 00:17:31,410
and it's becoming smarter and smarter.

297
00:17:31,800 --> 00:17:33,690
It's not making humans any smarter.

298
00:17:33,690 --> 00:17:39,540
It doesn't make Elon Musk or Sam Aman
or Dario Amodei, and we just accept

299
00:17:39,540 --> 00:17:43,230
that, that however smart AI becomes,
we're always gonna be a bit dimwitted.

300
00:17:43,230 --> 00:17:44,910
We're always gonna watch.

301
00:17:45,330 --> 00:17:47,370
Stick dastardly and wacky races.

302
00:17:48,000 --> 00:17:48,390
Yeah.

303
00:17:48,450 --> 00:17:49,320
I, I, I don't think

304
00:17:49,320 --> 00:17:52,170
exactly you of course, who,
who, who was always mature.

305
00:17:52,170 --> 00:17:54,840
Were you, what were you doing when
you, what were, you were watching?

306
00:17:54,840 --> 00:17:57,630
Six, uh, uh, when you were
six Keith, uh, Shakespeare

307
00:17:58,920 --> 00:18:00,030
when I was six.

308
00:18:00,630 --> 00:18:02,280
You missed wacky races.

309
00:18:02,280 --> 00:18:02,700
How?

310
00:18:03,060 --> 00:18:07,020
I was six in 1960, so I think I was
probably watching top of the pops.

311
00:18:07,410 --> 00:18:10,020
Uh, so you did have a
little bit of triviality.

312
00:18:10,020 --> 00:18:12,835
You weren't always an adult or as
much of an adult as you are now.

313
00:18:13,200 --> 00:18:13,260
I,

314
00:18:14,340 --> 00:18:19,620
I certainly wasn't, but, you
know, but I, I, I, uh, I, we lost

315
00:18:19,620 --> 00:18:22,080
the thread there a little bit
when you asked me that question.

316
00:18:22,080 --> 00:18:25,350
I was, I, I had it all
teed up and now it's gone.

317
00:18:25,350 --> 00:18:25,560
So.

318
00:18:25,560 --> 00:18:25,860
Okay.

319
00:18:25,860 --> 00:18:27,390
Well, let me tee you up again.

320
00:18:27,390 --> 00:18:27,810
Um.

321
00:18:29,530 --> 00:18:33,675
Are, are we dealing with these weirdly
paradoxical realities that on the

322
00:18:33,675 --> 00:18:36,550
one hand, AI is becoming smarter
and smarter and on the other hand

323
00:18:36,730 --> 00:18:39,105
we it's becoming dumber and dumber.

324
00:18:39,285 --> 00:18:39,435
Yeah.

325
00:18:39,435 --> 00:18:40,095
I've got it back.

326
00:18:40,545 --> 00:18:44,535
So, look, I I, I don't think we should
be measuring AI's impact on whether

327
00:18:44,535 --> 00:18:47,415
it makes individual human smarter.

328
00:18:47,715 --> 00:18:52,035
Um, I, I, I think we, we are as
smart as we are, we're all different.

329
00:18:52,695 --> 00:18:54,495
What it does is it makes us.

330
00:18:54,945 --> 00:19:01,305
Leverage tools to get more
done, hopefully done better.

331
00:19:01,785 --> 00:19:02,955
Uh, not always true.

332
00:19:02,985 --> 00:19:05,745
Sometimes it gets done
worse, hence the slop word.

333
00:19:06,405 --> 00:19:09,375
Um, and it doesn't make us smarter.

334
00:19:09,375 --> 00:19:12,885
It just makes us better at using
our smarts to get things done.

335
00:19:13,245 --> 00:19:16,095
And, and I think if it can
achieve that, that's huge.

336
00:19:16,455 --> 00:19:20,685
But then why'd you write this editorial
about AI growing up and the CEOs aren't?

337
00:19:21,450 --> 00:19:23,640
Well, so that is to do with two things.

338
00:19:23,879 --> 00:19:25,830
Uh, let's take AI growing up.

339
00:19:26,100 --> 00:19:33,660
This, this leapfrog from a single chat
interface with a single AI to AI that

340
00:19:33,660 --> 00:19:40,710
can carry out work using multiple AI
agents that it manages is, is a huge

341
00:19:40,890 --> 00:19:45,450
change in what AI can do and how fast
it can do it, and how well it can do it.

342
00:19:45,870 --> 00:19:49,800
That's the AI growing up bit, the
CEO's not growing up, is the mud

343
00:19:49,800 --> 00:19:53,399
fight between Altman and Amodei.

344
00:19:53,969 --> 00:19:58,950
Um, basically when Amodei talks about
adolescence in, in terms of the tech,

345
00:19:59,940 --> 00:20:03,570
it's ironic 'cause he's displaying
adolescence in his use of advertising.

346
00:20:03,900 --> 00:20:08,790
And Altman is equally in his response
showing adolescence when all of them

347
00:20:08,790 --> 00:20:12,540
have got better things to be doing, they,
they're actually contributing massively.

348
00:20:13,695 --> 00:20:18,375
But having this side fight as they do it,
that that's the CEO's not growing up bit.

349
00:20:20,295 --> 00:20:24,765
But, so what does that tell us that,
are you optimistic that these people

350
00:20:24,765 --> 00:20:28,605
can become a little bit more mature
or is that just the nature of things?

351
00:20:29,115 --> 00:20:29,895
They totally can.

352
00:20:29,895 --> 00:20:30,165
Yeah.

353
00:20:30,165 --> 00:20:36,255
I mean, I, all of every entrepreneur,
and I'll include myself in this, in

354
00:20:36,255 --> 00:20:38,385
the, you know, in their learning phase.

355
00:20:38,895 --> 00:20:44,595
When they, having their ass handed to
them in all kinds of ways, uh, react,

356
00:20:44,865 --> 00:20:49,095
um, based on their past experience,
you know, either better or worse.

357
00:20:49,200 --> 00:20:52,845
I, I had some when I was doing
real names, roughly at their age.

358
00:20:53,655 --> 00:20:56,774
Uh, I remember thinking I could
beat Microsoft in a fight.

359
00:20:57,629 --> 00:20:59,610
And I, I really thought I could.

360
00:21:00,120 --> 00:21:01,230
Um, and I didn't.

361
00:21:01,230 --> 00:21:03,870
I lost and had my ass handed to me.

362
00:21:03,930 --> 00:21:08,520
And over time you learn that not
everything is under your control.

363
00:21:08,850 --> 00:21:11,399
And that is a maturing learning curve.

364
00:21:11,730 --> 00:21:15,810
They'll, they'll all get there,
um, because the world won't be

365
00:21:15,810 --> 00:21:16,860
kind to them unless they go there.

366
00:21:18,090 --> 00:21:21,000
Well, one thing for sure is they've
all got jobs and it was an, an

367
00:21:21,090 --> 00:21:23,399
interesting, another interesting.

368
00:21:23,970 --> 00:21:27,660
Piece of this week's news, there's so
many interesting stories this week,

369
00:21:27,660 --> 00:21:34,320
is that US job openings dropped to a
five year low, uh, in December, 2025.

370
00:21:34,320 --> 00:21:36,780
More and more pessimism on the job front.

371
00:21:37,290 --> 00:21:41,340
One big piece, at least of media
news was that the Washington Post.

372
00:21:42,899 --> 00:21:47,189
Uh, essentially committed suicide,
at least according to the Atlantic.

373
00:21:47,550 --> 00:21:50,760
Is this an important week in
terms, again, you've talked about

374
00:21:50,760 --> 00:21:53,520
swarms and bots and smart ais.

375
00:21:54,000 --> 00:21:57,899
Is this an important week or will it be
seen Keith as an important week when it

376
00:21:57,899 --> 00:22:04,110
comes to what more and more people are
believing to be a crisis of human labor?

377
00:22:05,625 --> 00:22:08,415
I think it is the starting point of that.

378
00:22:08,955 --> 00:22:13,425
Uh, and most of these things
are overreactions, uh, based on

379
00:22:13,754 --> 00:22:15,465
a misunderstanding of timing.

380
00:22:16,065 --> 00:22:18,735
I don't, I don't think
timing suggests that.

381
00:22:19,860 --> 00:22:24,330
You know, anytime soon, meaning the
next few months, you're gonna see

382
00:22:24,330 --> 00:22:26,250
a huge change in the job market.

383
00:22:26,879 --> 00:22:31,560
Um, I, you know, so I think
the answer is there's always an

384
00:22:31,560 --> 00:22:34,919
emotionally overreaction and the
stock market is the extreme of that.

385
00:22:34,950 --> 00:22:38,879
'cause it reprices things very
early once it sees a trend.

386
00:22:39,360 --> 00:22:45,480
So there is truth in the reactions, but
timing wise, probably an overreaction.

387
00:22:46,980 --> 00:22:50,760
Coming back to my favorite
television program, wacky Races.

388
00:22:50,760 --> 00:22:53,070
It is made up of all sorts
of interesting teams.

389
00:22:53,100 --> 00:22:56,670
Uh, and in terms of the AI wacky
races, I mean, obviously we think

390
00:22:56,670 --> 00:23:02,940
of Anthropic and OpenAI and Google,
Microsoft, Amazon XAI, but I know

391
00:23:03,570 --> 00:23:06,930
for you it's a more complicated race.

392
00:23:07,080 --> 00:23:13,410
The VCs are also participating, and in
this week's editorial you imply that.

393
00:23:14,159 --> 00:23:17,100
They're not doing very well, but
they're certainly not leading

394
00:23:17,100 --> 00:23:22,199
the pack when it comes to the AI
race and this crisis of software.

395
00:23:22,500 --> 00:23:25,889
Can we talk, Keith, also maybe
last week about the crisis of

396
00:23:25,889 --> 00:23:27,870
traditional venture capital as well?

397
00:23:29,250 --> 00:23:33,125
Well, the, the crisis is, uh,
what you could think of as.

398
00:23:34,455 --> 00:23:39,405
Um, a, a massive concentration of
capital into a small number of hands.

399
00:23:39,465 --> 00:23:43,575
In venture capital, most of the
money being raised and deployed is

400
00:23:43,575 --> 00:23:45,435
coming through about five funds.

401
00:23:46,215 --> 00:23:51,705
Um, those five funds, uh,
sucking the air out of the room.

402
00:23:52,155 --> 00:23:57,675
So the, the, the venture ecosystem
thrives due to seed investors.

403
00:23:58,515 --> 00:24:02,415
Who find these companies before
anyone even knows they exist, and

404
00:24:02,415 --> 00:24:08,085
the seed investors are being starved
of oxygen and many are threatened.

405
00:24:08,655 --> 00:24:10,035
With being viable.

406
00:24:10,635 --> 00:24:13,725
And there's a lot of writing
this week about that.

407
00:24:13,845 --> 00:24:15,705
Uh, three, three very good pieces.

408
00:24:15,705 --> 00:24:18,165
One from Beza Clarks
and one from Dan Gray.

409
00:24:18,615 --> 00:24:21,525
And, um, I'm blanking
on who the third one is.

410
00:24:22,095 --> 00:24:28,365
Um, and, and they all, uh, naval
gazing about the impact of this

411
00:24:28,905 --> 00:24:30,855
structural shift in capital.

412
00:24:31,395 --> 00:24:32,715
For innovation.

413
00:24:32,925 --> 00:24:35,085
And I think that's, that's
a reasonable concern.

414
00:24:35,120 --> 00:24:39,555
I do, I I do think that, um,
really, really good angels and

415
00:24:39,555 --> 00:24:41,534
seed investors will still thrive.

416
00:24:42,375 --> 00:24:46,245
But, um, anyone in the
middle is, is threatened.

417
00:24:46,455 --> 00:24:46,784
Yeah.

418
00:24:46,784 --> 00:24:50,985
And it, it, this is part of this crisis.

419
00:24:50,985 --> 00:24:54,135
It's the middle market companies
like Adobe is in crisis.

420
00:24:54,645 --> 00:24:56,895
Um, it's the five or six.

421
00:24:57,524 --> 00:25:01,335
AI companies that are dominating
everything, whether they're private,

422
00:25:01,725 --> 00:25:03,645
privately owned or publicly owned.

423
00:25:03,645 --> 00:25:08,205
There'd probably be two IPOs,
anthropic and OpenAI this year.

424
00:25:08,745 --> 00:25:13,125
So what's happening with Venture is
a mirror and a cause, or perhaps a

425
00:25:13,125 --> 00:25:18,405
cause and a consequence of what's
happening more broadly in tech.

426
00:25:18,764 --> 00:25:19,274
Is that fair?

427
00:25:19,274 --> 00:25:22,245
I mean, it's a, it's a winner
take all economy in every sense.

428
00:25:22,245 --> 00:25:22,304
Yeah.

429
00:25:22,304 --> 00:25:25,965
Whether you are an investor, whether
you are a developer, whether.

430
00:25:26,655 --> 00:25:31,755
Um, whether you are an ex,
uh, you are an AI company

431
00:25:32,025 --> 00:25:32,445
Yeah.

432
00:25:32,505 --> 00:25:34,395
And there's some public
companies in there as well.

433
00:25:34,395 --> 00:25:38,085
And Palantir's results
this week were spectacular.

434
00:25:39,225 --> 00:25:43,695
Um, it did actually suffer, um, a, a
big rise and then a big drop in it.

435
00:25:43,695 --> 00:25:44,415
Share price.

436
00:25:45,054 --> 00:25:46,074
Over two days.

437
00:25:46,584 --> 00:25:50,425
Um, you think of and
Unreal, who's the AI in?

438
00:25:50,425 --> 00:25:50,485
Yeah.

439
00:25:50,485 --> 00:25:52,615
And these are smart defense.

440
00:25:53,395 --> 00:25:53,725
Yeah.

441
00:25:53,725 --> 00:25:56,155
Smart military software companies.

442
00:25:57,145 --> 00:26:01,794
So the, the, the, you know, the s
and p 510 years from now is not going

443
00:26:01,794 --> 00:26:03,415
to look anything like it does today.

444
00:26:03,564 --> 00:26:07,465
And if you're an investor, you want
to be putting money into the future

445
00:26:07,465 --> 00:26:09,205
s and p 500, not the current one.

446
00:26:11,040 --> 00:26:14,040
One company we haven't mentioned
actually is, is, is Facebook,

447
00:26:14,040 --> 00:26:15,210
are they a loser in this?

448
00:26:15,210 --> 00:26:17,375
Are they They are.

449
00:26:17,515 --> 00:26:18,210
Are they a foot?

450
00:26:18,210 --> 00:26:18,480
No.

451
00:26:18,480 --> 00:26:23,850
Now in, in, in, in, uh, in the wacky
racist, do they even have a team in this?

452
00:26:25,080 --> 00:26:27,270
Well, look, they're a fantastic company.

453
00:26:27,270 --> 00:26:31,950
They're revenues announced last
week were huge, but their stock

454
00:26:31,950 --> 00:26:36,390
price has not gone up because
in the AI race, Theran also ran.

455
00:26:36,824 --> 00:26:38,264
Trying to figure it out.

456
00:26:38,270 --> 00:26:42,764
They, they have a brand new team in
place, building brand new platform to

457
00:26:42,764 --> 00:26:46,455
replace, uh, the LAMA platform that
they've had for the last few years.

458
00:26:46,935 --> 00:26:52,695
There's a big internal debate about
open source versus closed source models,

459
00:26:53,355 --> 00:26:58,185
but with the amount of money they've
got, and, you know, time is on their

460
00:26:58,185 --> 00:27:00,615
side, they'll probably figure it out.

461
00:27:00,645 --> 00:27:03,615
I don't think they'll, I think
they'll be a survivor, but

462
00:27:03,615 --> 00:27:04,935
they're a laggard right now.

463
00:27:05,970 --> 00:27:09,120
Um, you sidestep the
Washington Post question.

464
00:27:09,450 --> 00:27:15,120
Are you concerned that America no longer
really has, it seems a, uh, a viable

465
00:27:15,120 --> 00:27:20,520
newspaper in its capital, especially
in its rather precarious political

466
00:27:20,520 --> 00:27:23,250
state in, uh, in February, 2026?

467
00:27:25,175 --> 00:27:30,990
You know, I, I, I think the Washington
Post has been challenged for, at, at

468
00:27:30,990 --> 00:27:34,560
least 10 years since, um, Kathy Graham.

469
00:27:35,355 --> 00:27:37,305
Um, moved on from it.

470
00:27:37,815 --> 00:27:41,325
I think, I think it's, it's
challenge for a few reasons, but

471
00:27:41,325 --> 00:27:43,125
the first is it tied, its mast.

472
00:27:44,055 --> 00:27:47,925
To the Biden administration and
ended up taken the wrong side of most

473
00:27:47,925 --> 00:27:53,145
discussions and became irrelevant in
a similar way to the New York Times

474
00:27:54,015 --> 00:27:59,655
by, by abandoning the, you know, the,
the, um, being the source of truth

475
00:27:59,865 --> 00:28:03,855
and becoming a co, uh, a combatant,
if you will, in the political wars.

476
00:28:04,635 --> 00:28:07,995
And, and so I think America lost.

477
00:28:09,419 --> 00:28:15,600
A news business, um, CNN tried
to survive by being independent,

478
00:28:15,690 --> 00:28:17,940
uh, against M-S-N-B-C and Fox.

479
00:28:18,330 --> 00:28:23,879
But I think across the entire traditional
media, you've had this partisan

480
00:28:23,970 --> 00:28:27,480
bifurcation of media and they're
all gonna be losers because of it.

481
00:28:27,510 --> 00:28:33,510
'cause most normal people want to make
their own opinion from good journalism,

482
00:28:33,899 --> 00:28:35,340
and that hasn't been available.

483
00:28:36,870 --> 00:28:38,250
But there's less and less journalism.

484
00:28:38,250 --> 00:28:42,149
I mean, that, isn't that the
point of the crisis at the Post?

485
00:28:42,149 --> 00:28:45,360
Is there, and I mean, whether you
like normal or not, they're capable

486
00:28:45,360 --> 00:28:47,370
of, of high quality journalism.

487
00:28:47,429 --> 00:28:53,159
It's, it, it's um, I call
it boogieman journalism.

488
00:28:53,159 --> 00:28:53,850
It's like.

489
00:28:54,435 --> 00:28:55,725
Every couple of weeks.

490
00:28:55,725 --> 00:28:57,465
There's a new boogieman this week.

491
00:28:57,465 --> 00:29:00,135
Is Jeffrey Epstein that distract?

492
00:29:00,345 --> 00:29:01,365
Well, he might legitimate.

493
00:29:01,365 --> 00:29:04,754
I mean, there, there are certain
legitimate boogieman and, uh,

494
00:29:04,754 --> 00:29:06,465
Jeffrey Epstein seems to be one

495
00:29:06,465 --> 00:29:11,715
that, well, he, of course he is one, but
for the entire media to get distracted

496
00:29:11,715 --> 00:29:17,925
from big issues by focusing only on this
boogeyman and trying to un undermine,

497
00:29:17,985 --> 00:29:19,905
uh, Trump, only because of his.

498
00:29:19,920 --> 00:29:25,140
Possible associations, or likely
associations means that the entire

499
00:29:25,140 --> 00:29:31,320
narrative driven by the media's
desire to sell clicks or, or papers or

500
00:29:31,320 --> 00:29:34,890
news or TV channels gets distracted.

501
00:29:34,890 --> 00:29:38,070
You know, before it was Russia
interfering the election as the boogeyman.

502
00:29:38,190 --> 00:29:39,390
There's always a boogeyman.

503
00:29:39,690 --> 00:29:43,620
It's always about the media driving
attention, and none of it is about what's

504
00:29:43,620 --> 00:29:45,510
really going on, which is so frustrating.

505
00:29:47,475 --> 00:29:51,465
What you call this attention
economy is an advertising economy.

506
00:29:51,465 --> 00:29:57,705
And does that mean that maybe Dario
Amid dies onto something by suggesting

507
00:29:57,705 --> 00:30:03,074
that when you insert ads into AI,
you're only compounding attention

508
00:30:03,074 --> 00:30:05,895
and trivialization on all the
other things that have gone wrong?

509
00:30:06,735 --> 00:30:09,465
I'm, you know, I'm definitely against.

510
00:30:09,825 --> 00:30:11,985
What we would think of as ads in AI.

511
00:30:12,345 --> 00:30:13,815
Um, for, for, so

512
00:30:13,815 --> 00:30:15,165
you're in Amides Camp

513
00:30:15,225 --> 00:30:16,035
for good reason, even if

514
00:30:16,035 --> 00:30:16,725
you don't like it.

515
00:30:16,935 --> 00:30:19,545
Uh, well, no, no, no.

516
00:30:19,545 --> 00:30:23,625
Because I do know that OpenAI has
also said it's against that, and

517
00:30:23,625 --> 00:30:28,185
that it has no intention of putting
what we all think of as ads in AI.

518
00:30:28,395 --> 00:30:33,675
But it is thinking of working with,
um, you know, if you think about the

519
00:30:33,675 --> 00:30:37,965
world, the digital world, everything
that there is available to sell, read.

520
00:30:38,535 --> 00:30:40,215
Buy has a link.

521
00:30:40,785 --> 00:30:47,355
And so we live in a place where in
order to have your ideas, products.

522
00:30:48,645 --> 00:30:52,784
Services surfaced in any
conversation with AI.

523
00:30:53,475 --> 00:30:55,245
It has to take the form of a link.

524
00:30:55,844 --> 00:31:02,294
And, you know, Amodei has links, uh,
perplexity has links open, AI has links,

525
00:31:02,834 --> 00:31:07,695
and now they're saying, you know, you can
pay us to put your link there in our free

526
00:31:07,695 --> 00:31:10,395
service if and only if it's relevant.

527
00:31:11,190 --> 00:31:13,410
To what the user is looking for.

528
00:31:13,830 --> 00:31:14,910
I think that's okay.

529
00:31:15,000 --> 00:31:15,725
I don't, I don't, but

530
00:31:15,730 --> 00:31:22,200
that's not the, in to, to borrow a word
from Corey Doc, that's not the ification

531
00:31:22,200 --> 00:31:24,870
of AI or the beginnings of its ification.

532
00:31:24,885 --> 00:31:28,230
I, I, I, I don't think there's any intent.

533
00:31:28,995 --> 00:31:33,495
And, and it would be counter
to OpenAI's economic future.

534
00:31:33,615 --> 00:31:38,024
There is no intent to interfere
with the AI itself and what it

535
00:31:38,085 --> 00:31:41,655
says does thinks, um, at all.

536
00:31:41,895 --> 00:31:43,695
So that's where the Amida ad is.

537
00:31:43,695 --> 00:31:49,544
Just, you know, uh, leveraging
a, a nuance to try to depict

538
00:31:49,605 --> 00:31:51,075
something that isn't gonna happen.

539
00:31:52,230 --> 00:31:54,420
Well, there is other news outside AI.

540
00:31:54,420 --> 00:31:57,480
My tech company of the week is Spotify.

541
00:31:57,480 --> 00:31:59,160
I'm not always my favorite company.

542
00:31:59,790 --> 00:32:03,690
But then news this week was that
when you buy a physical book now and

543
00:32:03,690 --> 00:32:08,520
they've done a deal with bookstore,
um, you'll also get the audio book.

544
00:32:08,520 --> 00:32:09,630
It's always been one of my.

545
00:32:10,574 --> 00:32:16,365
Irritations that you, on Amazon, at least
an audible, if you buy the the audio book,

546
00:32:16,395 --> 00:32:17,895
you still have to buy the physical book.

547
00:32:17,895 --> 00:32:19,905
So that's still innovation.

548
00:32:19,905 --> 00:32:24,824
Keith, I don't know whether you are a,
a reader of physical books or a listener

549
00:32:24,824 --> 00:32:26,715
to audio books, but this is good news.

550
00:32:26,715 --> 00:32:28,274
Spotify is still innovating.

551
00:32:28,754 --> 00:32:28,905
Yeah.

552
00:32:28,905 --> 00:32:32,415
If you look at this behind my head,
it's books and there's a whole

553
00:32:32,415 --> 00:32:33,735
wall of them to my right here.

554
00:32:33,735 --> 00:32:35,294
So I do read physical books.

555
00:32:35,955 --> 00:32:40,010
Um, I, you know, that is
innovation, but with a. Small.

556
00:32:40,040 --> 00:32:44,419
I, I would say, um, and
it, it's smart as well.

557
00:32:44,480 --> 00:32:48,649
It's smart because I think the
consumer will much prefer getting

558
00:32:48,649 --> 00:32:50,240
both in a single purchase.

559
00:32:50,300 --> 00:32:52,460
So I think I, I do think that's smart.

560
00:32:53,240 --> 00:32:53,540
Um,

561
00:32:53,540 --> 00:32:57,110
but in the name of democracy, I
gotta be fair and give you the last

562
00:32:57,110 --> 00:33:00,230
word with your startup of the week.

563
00:33:00,230 --> 00:33:05,030
This is a startup that raised $20
million from Sequoia to build the.

564
00:33:05,410 --> 00:33:08,380
Cursor of CRM sounds rather boring.

565
00:33:08,500 --> 00:33:09,455
Tell me about this company.

566
00:33:11,175 --> 00:33:12,405
Well, we all know that.

567
00:33:12,615 --> 00:33:15,195
Uh, what CRM is?

568
00:33:15,255 --> 00:33:16,665
Customer relationship management.

569
00:33:16,665 --> 00:33:18,705
Probably not Everyone
knows what Cursor is.

570
00:33:18,975 --> 00:33:25,935
Cursor is, um, a, a rapper, um,
uh, not, not a singer, um, a rapper

571
00:33:25,935 --> 00:33:28,475
as in paper, uh, around a rapper

572
00:33:28,475 --> 00:33:29,325
with a w

573
00:33:29,595 --> 00:33:32,565
around, um, using AI to write code.

574
00:33:32,960 --> 00:33:34,910
Um, or perform other tasks.

575
00:33:35,390 --> 00:33:40,430
And, um, this, this is an AI
wrapper around your customer

576
00:33:40,430 --> 00:33:42,530
list and your prospects list.

577
00:33:42,770 --> 00:33:45,785
Um, I dunno if it's any good, but
the investors, what's it called?

578
00:33:46,280 --> 00:33:48,980
The investors who invested in
it, certainly think, what's

579
00:33:48,980 --> 00:33:49,640
its name?

580
00:33:50,780 --> 00:33:52,250
The, the name of the company?

581
00:33:52,610 --> 00:33:53,030
Yeah.

582
00:33:53,750 --> 00:33:55,670
Didn't you say the name
of the company already?

583
00:33:56,150 --> 00:33:56,780
No.

584
00:33:57,050 --> 00:33:58,220
It's your start of the week.

585
00:33:58,220 --> 00:33:59,600
It's your company, not mine.

586
00:33:59,690 --> 00:34:02,570
Start of the week is, um.

587
00:34:03,630 --> 00:34:03,930
Up.

588
00:34:04,050 --> 00:34:06,810
I think it's, uh, upstart,
I think it's called.

589
00:34:07,380 --> 00:34:07,890
Oh, wow.

590
00:34:07,980 --> 00:34:08,820
That's so interesting.

591
00:34:08,820 --> 00:34:14,909
We're not quite sure of their name, but
they are at least RA rapper, the cursor.

592
00:34:14,909 --> 00:34:15,090
They're,

593
00:34:16,080 --> 00:34:19,710
but I will say, uh, before we go,
Andrew, that I think the poster of

594
00:34:19,710 --> 00:34:21,510
the week is the most illustrative.

595
00:34:21,510 --> 00:34:25,440
It's from O Malick and Om, you
know, you know, when we talk

596
00:34:25,440 --> 00:34:29,909
about music, we talk about music
distribution, going from the radio.

597
00:34:30,214 --> 00:34:36,904
To vi and vinyl to cassettes, then
to CDs, and then to streaming,

598
00:34:37,355 --> 00:34:38,495
and then back to vinyl.

599
00:34:38,735 --> 00:34:42,784
And what, what Omar's done is
applied that same evolutionary

600
00:34:42,844 --> 00:34:44,674
scale, if you will, to software.

601
00:34:45,995 --> 00:34:52,235
And in his piece, he talks about, you
know, the different eras of software,

602
00:34:52,355 --> 00:34:57,545
uh, distribution from, I remember
when I started Easy Net, we put a cd.

603
00:34:58,185 --> 00:35:02,655
Cell a tape to the cover of the
internet magazine and we also

604
00:35:02,655 --> 00:35:06,195
gave the CD to Compact to put in
the box when he bought a laptop.

605
00:35:06,555 --> 00:35:08,475
And software distribution was really hard.

606
00:35:08,475 --> 00:35:13,185
Then Mobile came along and suddenly
there were two app stores and

607
00:35:13,185 --> 00:35:16,125
you could ship software to the
whole world in five minutes.

608
00:35:16,725 --> 00:35:22,605
And, and, and it took the form of,
uh, app stores and then there was sas.

609
00:35:23,040 --> 00:35:28,529
Which is the cloud version of software for
enterprises, mainly through subscriptions

610
00:35:28,529 --> 00:35:30,089
or buying enterprise software.

611
00:35:30,149 --> 00:35:33,419
And what OM is pointing out is
that software is now gonna be built

612
00:35:33,419 --> 00:35:35,819
by users for their own purposes.

613
00:35:36,299 --> 00:35:41,790
And it, it'll be self-made, uh,
and I think it is pieces very

614
00:35:41,790 --> 00:35:42,645
thoughtful and really good.

615
00:35:43,725 --> 00:35:47,205
Yeah, software then becomes free
in every sense, metaphorical,

616
00:35:47,205 --> 00:35:49,725
perhaps, and otherwise, although
someone's gonna profit from it.

617
00:35:50,265 --> 00:35:55,245
Uh, one other sector that's getting
a lot of attention in the the Super

618
00:35:55,245 --> 00:35:57,315
Bowl week is the prediction market.

619
00:35:57,315 --> 00:35:58,575
The way in which, uh.

620
00:35:59,595 --> 00:36:01,185
Betting has become ubiquitous.

621
00:36:01,185 --> 00:36:02,805
Maybe we can talk about that another week.

622
00:36:02,805 --> 00:36:05,805
But let's add where we began,
Keith, with the Super Bowl,

623
00:36:06,435 --> 00:36:08,325
not far from you in Palo Alto.

624
00:36:08,325 --> 00:36:09,345
In San Jose.

625
00:36:09,375 --> 00:36:11,325
Uh, who's gonna win between Seattle?

626
00:36:11,355 --> 00:36:14,085
Do you have any sense between
Seattle and New England?

627
00:36:14,385 --> 00:36:14,415
I.

628
00:36:15,105 --> 00:36:18,645
Anyone who listens to my opinion
about football is, um, is a beautiful,

629
00:36:18,645 --> 00:36:20,115
maybe Manchester United will win.

630
00:36:20,745 --> 00:36:21,645
They did win today.

631
00:36:21,645 --> 00:36:22,665
Andrew, against your team?

632
00:36:22,755 --> 00:36:23,115
Yeah.

633
00:36:23,115 --> 00:36:24,915
I, I am not really aware of that.

634
00:36:24,915 --> 00:36:30,225
Well, uh, this was the week that
broke the software business.

635
00:36:30,225 --> 00:36:32,535
I hope next week it'll
be equally dramatic.

636
00:36:32,535 --> 00:36:36,945
Keith, uh, we, we need You, or,
that was the weak newsletter.

637
00:36:36,945 --> 00:36:40,305
It keeps us up to date
with a fascinatingly.

638
00:36:41,415 --> 00:36:43,274
Dramatic changing world.

639
00:36:43,274 --> 00:36:45,015
So, uh, we'll talk again next week.

640
00:36:45,015 --> 00:36:46,004
Thank you so much.

641
00:36:46,095 --> 00:36:46,439
You're welcome.

642
00:36:46,540 --> 00:36:47,080
Bye everyone.