Zuckerberg Just Said That At Meta, Your Job Is Training Its Replacement
AI is no longer just helping you write emails or clean up spreadsheets; it is watching, learning and preparing to do the job itself. In this episode, Chris and Saied break down Zuckerberg’s stunning explanation of employee-trained AI, the corporate obsession with cutting headcount in the name of “efficiency,” Elon Musk’s robot economy and the trillions in wages suddenly sitting in the crosshairs. Add a labor market nobody fully trusts and a bond market flashing warnings, and one question remains: when productivity explodes, who still gets a paycheck?
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🔗 Resources:
Job creation topped muted expectations (CNBC Chart of the Day via Instagram)
Andrew Yang vs. Chris Hughes: Are AI Layoffs Real or a Myth? (@opentodebateorg via Instagram)
Meta Begins 8,000 Global Job Cuts in AI Efficiency Push (LA Times)
LEAKED AUDIO: Zuckerberg All-Hands April 30 — "You're Training the AI That Replaces You" (@perfectunion via Instagram)
Bolt CEO Ryan Breslow: "We Got Rid of Our HR Team. Those Problems Disappeared." (Fortune)
Elon Musk on the Next 5 years of AI and Robotics (Forbes via Instagram)
Jeff Bezos on Squawk Box: "The Bottom Half Should Pay Zero. I Think It Should Be Zero." (CNBC via Instagram)
⚠️ Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.
Transcript
I'm being completely honest.
Speaker A:There's a lot wrong with the space that I think nobody else sees but me, because I'm here all the time.
Speaker A:But.
Speaker A:So the flooring was delivered with the wrong flooring.
Speaker A:I remember that.
Speaker A:The clock.
Speaker A:But it was like 500 plus pounds of flooring.
Speaker B:But then that go to, like, to your benefit.
Speaker A:Are we.
Speaker B:We're live, right?
Speaker A:Yeah, we're live.
Speaker B:Welcome back to the number one financial literacy podcast in the world.
Speaker B:This is the higher standard sitting in front of me in the anti guru guru club T shirt that you can find@thspod.com it's my partner in crime, Christopher Nahibi.
Speaker A:A couple things right off the gate.
Speaker A:Number one, we could have finished the conversation.
Speaker A:You didn't have to go right.
Speaker A:With the cut off.
Speaker A:Well, I didn't.
Speaker B:Well, I know you're just gonna throw it into the show.
Speaker A:Emotionally invested.
Speaker B:I got you.
Speaker A:Right.
Speaker A:And yes, we don't believe in gurus here.
Speaker A:This is a non guru guru show.
Speaker A:Is that what it is?
Speaker A:You know, I'm getting the commentary once a while from the haters, the ops, as the kids say, about.
Speaker A:About how not everybody should have podcast equipment.
Speaker A:And I feel like if you're gonna.
Speaker B:Use, like, the cliche that's like this.
Speaker A:Of the moment, like, that's not really creative enough to hurt my feelings.
Speaker B:Yeah, we've been doing this for a while.
Speaker A:Yeah.
Speaker A:Probably longer than I want to admit.
Speaker A:Right, Right.
Speaker A:I'm being honest.
Speaker A:So sitting across from you, my partner in time, the one and only, the quarter zip king, the man, the myth, the legend side Omar, everybody.
Speaker B:Thank you, my man.
Speaker B:And sit behind the desk in the production suite.
Speaker B:Nobody furloughed again.
Speaker A:I knew you're gonna say it.
Speaker B:You know, he got sensitive last time he came in.
Speaker A:He's like, you forload furloughed me, huh, dog?
Speaker A:That was the first conversation we had out of the gate.
Speaker B:Very sensitive topic.
Speaker A:Not we HR did that happens to be.
Speaker B:Honestly, this is a very sensitive topic for a lot of people these days, and I believe we'll be getting into that on today's episode.
Speaker A:So I want to frame this.
Speaker A:We've been talking a lot about AI on the show as of late, and I get that that AI is kind of like the du jour topic that.
Speaker A:That's really top of mind for everybody, but there are some things going on that are more HR related that are the byproduct of AI so that's where I really want to focus this show.
Speaker A:Not necessarily AI but some of the ramifications that we're seeing and what some very intelligent people in the space are kind of foreshadowing, if you will, of what they expect to come.
Speaker A:And I wanted to do a little bit of an audio voyage.
Speaker A:I want to be all up in everybody's ear holes tonight.
Speaker A:Okay.
Speaker A:You know, and so hopefully this, this gives everybody enough.
Speaker A:I don't think we have a conclusive outcome here.
Speaker A:I think it's all still left open in the air.
Speaker A:But kind of like how we talked a little bit about taxes and implications of taxes on a previous show.
Speaker A:I, I wanted this show to be one of those, one of those topics that pushed you into thinking about like, what does this mean for me and how are things going to change?
Speaker A:Yeah.
Speaker A:So before I get into some of the today's show notes which I have pulled up here on the normal show note format that most people don't ever see whenever we do a show here.
Speaker A:But basically we have a note here that has all of the links that you would normally see in the show notes down below.
Speaker A:These will all be linked.
Speaker A:There's a lot today and it's going to start off with job creation for the month that created from CNBC chart of the day.
Speaker A:Right.
Speaker A:And I don't know if you even saw this.
Speaker A:It didn't make very many headlines at all.
Speaker A:But the jobs report came out today.
Speaker A:This is from job creation Top muted expectations through the plotting.
Speaker A:US labor markets sent up several flags.
Speaker A:A potential slowdown this year.
Speaker A:The Bureau of Labor Statistics reported on Friday.
Speaker A:So we basically had 115,000 jobs created down from last month.
Speaker A:Non farm payrolls rose by seasonally adjusted 115,000 for the month, down from 185 the previous month.
Speaker A:And it was an unusually strong March at that, at that point.
Speaker A:So.
Speaker B:And it beat expectations.
Speaker B:Right.
Speaker B:Of 55,000.
Speaker B:But is the 55,000 expectation after their future revisions or.
Speaker A:Well, again.
Speaker A:And then we talked about this on a multitude of shows over the course of now I want to say like two or three years where zero hedges.
Speaker A:Very well done.
Speaker A:Breakdown of jobs.
Speaker A:And the revisions have pretty much made this data unreliable as far as I'm concerned.
Speaker A:But the market is effectively saying that we have a 4.3 unemployment rate.
Speaker A:Right.
Speaker A:Which is healthy by all outward measures.
Speaker A:And here you go, here's the chart.
Speaker A: % as of: Speaker A: ,: Speaker A:Like, what's the issue?
Speaker A: obs revised down last year in: Speaker A:Jobs that they said were there that ultimately wound up not being there.
Speaker B:Right.
Speaker A:So how do you have confidence in this number at all?
Speaker A:Yeah, right.
Speaker A:I don't know that you do.
Speaker A:So then I started thinking to myself, okay, well, we know that the service sector really carried the lift for that monumental March report that had 185,000 jobs.
Speaker A:It was largely service based.
Speaker A:Right.
Speaker A:Healthcare and service, which I thought was strange, but I thought, okay, you know, I'm going to be agnostic here.
Speaker A:If you're the Fed, there's no way you can really move to cut rates right now right away because there's nothing.
Speaker B:To really lean on.
Speaker A:Nothing to really lean on.
Speaker A:And the bigger problem is kind of, well, that there are a lot of competing factors and you've got things that are likely to push through the economy.
Speaker A:Number one, tariffs.
Speaker A:Right.
Speaker A:And number two, you have the issue of inflation creeping back up because all the trickle down effects of energy shock.
Speaker A:Right.
Speaker B:And there's another issue that is causing this problem to be exacerbated.
Speaker A:Oh, there you go.
Speaker B:And we can get into it at some point later in the show, especially given what I know is coming is the bond market.
Speaker B:The bond market is, is really, really, really hurting this entire process.
Speaker A:Did you see the stock market today?
Speaker A:Stock market today was booming.
Speaker A:Yeah.
Speaker A:Just banging out.
Speaker B:It all makes sense.
Speaker A:Makes no sense.
Speaker A:And I, I spent a good amount of time this morning trying to figure.
Speaker B:It out, especially with where the bond market is.
Speaker B:That's where.
Speaker B:That's where to me, for the first time, it really starting to like become clear where.
Speaker B:Because there's something called.
Speaker B:And I did a little bit of research for the show.
Speaker A:Right.
Speaker B:Equity risk premium.
Speaker A:Right.
Speaker A:Yeah.
Speaker B:Right.
Speaker B:So you factor in how much more is incentive do I get from investing in the stock market versus just, you know, betting and getting a Treasury bond.
Speaker B:Right.
Speaker B:If right now you can get a bond for, you know, close to 5%.
Speaker A:Yep.
Speaker A:Right.
Speaker B:I mean, how much more do I have to make in the stock market for me to be like, yeah, it's worth the risk to go to stock market.
Speaker A:And this is the same argument people like Graham Stephan are making on the Ice Coffee Hour right now, where he's saying, hey, I put all this money into real estate, but after expenses, everything else, I'm probably making 4 to 5% a year.
Speaker A:I could put my money into bonds and make more than that or I can go market and have it be.
Speaker B:A lot safer and it's cleaner, no headaches, right?
Speaker A:Yeah, that's right.
Speaker B:So, and you think like, you know, when, when the bond market goes up like the way that it did.
Speaker B:Well, it affects everything.
Speaker B:We know, we know that already just from, from the show that it affects home affordability.
Speaker A:Right.
Speaker B:We, that we've covered that ad nauseam.
Speaker B:So everybody understands that it affects the stock market.
Speaker B:Right.
Speaker B:Because now you, you're looking for the premium to how much more.
Speaker B:A lot of the reason why the stock market has performed the way that it has over the last 15 years is, is because of that.
Speaker B:Right.
Speaker B:Bonds were super low for so long.
Speaker B:So let's put all of our money, institutional money too, into the stock market right now if they start pulling it away and they go, it's not worth the risk as much that we could pull some of it out and go into treasury bonds.
Speaker B:Right.
Speaker B:Although it's not, some people are saying, feeling like it's not as safe as it once was.
Speaker B:Right.
Speaker A:Which is why the US Government has to raise the price that it pays,.
Speaker B:Which only makes the problem worse.
Speaker B:But then you look at now what does that do to corporate bonds?
Speaker B:If, if the treasury bonds are going higher, then corporate bonds have to be higher than that to compete.
Speaker B:To compete.
Speaker B:And the problem is that they use corporate bonds, these larger companies.
Speaker B:So some of the companies that are going to, we're going to cover tonight and all the headline risks that they receive, well, they use these corporate bonds to, you know, you know, pay for their operations, buy back their stock to refinance some of their own debt.
Speaker B:And when you have that now it's like, well, in order to cover this we have to lay some people off.
Speaker A:Yeah, you issue a bond basically as a form of debt to somebody who's willing to take on that debt.
Speaker A:Unlike a stock where they're buying equity and your corporation, they're taking on debt and that debt has to compete.
Speaker A:Right.
Speaker A:For someone situated investment in the government.
Speaker A:Government debt you're getting, let's just say in this case say a 5% on a 30 year bond.
Speaker A:Yeah, right.
Speaker A:Your bond, whatever your repayment back is as a company, let's just say it's 30 years.
Speaker A:Has to be higher than the government.
Speaker B:Now is that 7%, right.
Speaker A:And now it's or 6 or whatever,.
Speaker B:Whatever, you know, and you're like, man, like that's money that I had planned to spend elsewhere in the company to help grow the company.
Speaker B:So how do I maintain earnings?
Speaker B:Well, the fastest, quickest result is to cut Operation costs.
Speaker A:And there's only two ways that companies look at this.
Speaker A:And it's usually you can increase revenue.
Speaker A:Right.
Speaker A:Or you can decrease your expenses.
Speaker A:And that's how your efficiency ratio works.
Speaker A:Well, the number one source of expense for most companies is the employee.
Speaker A:And, and because of that, I think you're seeing a lot of things happen in tandem that are all AI adjacent but affecting the human in business.
Speaker A:Number one, you're seeing the capital expenditures in building out infrastructure just be egregiously expensive.
Speaker A:Right.
Speaker A:Billions and billions of dollars that is being spent.
Speaker A:So that's going to be an expense issue that's, number one, hard to deal with.
Speaker A:You're not going to see the realization of that for some time, which means revenue is not going to grow.
Speaker A:So the only real lever for companies to pull is their expenses outside of the fixed cost in growth.
Speaker A:Right.
Speaker A:That's going to be humanity.
Speaker A:And I will say I'll foreshadow a little bit here.
Speaker A:Facebook had a leaked audio of Mark Zuckerberg.
Speaker A:We're going to play a little bit in the show and I got to tell you, it was a bit compelling.
Speaker A:He handled the question well and the response well at Meta.
Speaker A:Okay.
Speaker A:But when you break down what he's talking about, and we're going to do that on the show, it's very scary because he was very transparent and it was a tough question, tough set of circumstances, very public forum it sounded like.
Speaker A:But before we get there, a couple things to get into.
Speaker A:Let's get into the next piece here.
Speaker A:This is a bit of a debate and I found this answer to be somewhat shocking.
Speaker A:This is open debate.
Speaker B:Org.
Speaker A:Basically it was AI layoff conversation.
Speaker A:I'm gonna go ahead and play it here.
Speaker A:But just before warned Noble CEO, this gentleman whose name escapes me.
Speaker A:The moment is effectively debating the impacts of AI on jobs.
Speaker A:And then you've got a staunch person on the other side of the table who's going to say what the unemployment rate is 4 point.
Speaker A:He's going to say 6%, which is wrong.
Speaker A:It's 4.3%.
Speaker A:Right.
Speaker A:And it's just a bizarre response because it's this emphatic denial of the things that we're seeing around us.
Speaker A:And the Noble CEO is just so unwilling to engage him on this.
Speaker A:Ready.
Speaker C:Hundreds of thousands of white collar jobs in the next 12 to 24 months.
Speaker C:I spoke to a senior executive at a Fortune 500 company.
Speaker C:Thousands of layoffs has not gone public yet.
Speaker C:Verizon publicly announced 13,000 layoffs.
Speaker C:Amazon 16,000.
Speaker C:Your former employer, Accenture Thousands of layoffs.
Speaker C:You're going to see a massive culling of the white collar workforce over the next one to two years.
Speaker D:So why hasn't it started yet?
Speaker D:Why is unemployment at record low numbers?
Speaker C:Oh, it has started.
Speaker D:Well, there's no evidence.
Speaker C: you're down a million jobs in: Speaker C:And the directly attributable to AI layoffs, which is a massive like, you know, like tiny subset, is now up to 75,000 and the pace is picking up right now.
Speaker D:Yeah, Chris, Chris, that's from so into AI that I'm going to eliminate jobs because it juices their stock price.
Speaker D:The reality is unemployment's at 4.6% and the thin evidence base that suggests that any jobs have been eliminated by AI.
Speaker D: ewhere, they start in June of: Speaker D:So the idea that, that we are seeing any kind of meaningful labor market disruption so far is just not born.
Speaker A:Out in the desert.
Speaker A:Check, check.
Speaker C:Back in one to two years.
Speaker A:Okay, so number one, right off the gate.
Speaker A:Yeah, they started.
Speaker A:First of all, you discount MIT and Harvard.
Speaker A:I don't know where you went to school, pal.
Speaker A:I don't know your pedigree is.
Speaker A:But yeah, yeah, kick rocks.
Speaker A:Okay, number one.
Speaker A: tarting these surveys back in: Speaker B:Right.
Speaker A:And, and for that reason, I would point out that AI prior advent of AI to now shows a history of how this specific technology has impacted things and likely impacting is only going to gain in traction.
Speaker A:Right?
Speaker A: So post pandemic: Speaker B:I agree.
Speaker B:And I think that he's blatantly wrong in the fact that we have cited the challenger report on this show.
Speaker B:Right, and the challenger report covers not only layoffs, but reasons for layoffs.
Speaker B: xamined ever since back since: Speaker B:Yeah, and you're hearing it, you're literally hearing it from every CEO, every like, you know, chief of hr, that's, that's talking about this from these, you know, large companies saying, oh, we're looking to for efficiency.
Speaker B:Right.
Speaker B:Where we're going to be focusing on AI and database and infrastructure and all that.
Speaker B:Well, it's like, what else do you need to hear this?
Speaker A:This is kind of the conversation that bothers me a great deal.
Speaker A:And the Fed does this a little bit where they're like, oh, we're data dependent.
Speaker A:We don't see it in the data.
Speaker A:And I'm sitting here thinking to myself like, okay, last time I checked, the headlines were pretty clear.
Speaker A:This was happening at a regular cadence.
Speaker A:And there's an interesting way that I like to look at this.
Speaker A:That's not what I would call science based, but I think it's got some meaningful value here.
Speaker A:You ever tried applying for jobs on LinkedIn?
Speaker A:Yeah, I think most people have at some point if they ever looked for a job.
Speaker A:What most people don't realize is if you apply for a job at LinkedIn or on LinkedIn, after a hundred applicants, it stops telling you that more people than a hundred people have applied.
Speaker B:Yes, 100 plus.
Speaker A:Right?
Speaker A:It just says 100 plus.
Speaker A:And if you look at some of the jobs and you start filtering through, there really aren't a lot of jobs out there.
Speaker A:And some of the jobs.
Speaker A:So I looked like a year ago, just out of morbid curiosity to see what jobs were out there, and I went, you know, through LinkedIn a couple times to see what jobs in my space, which is limited jobs.
Speaker A:Fine.
Speaker A:A year later, some of those jobs are still there.
Speaker B:Oh, yeah, yeah, we've talked about those.
Speaker B:Are those jobs ghost postings?
Speaker A:Yeah, those are real, right?
Speaker A:Yeah, yeah.
Speaker B:And I think Meta went.
Speaker B:Meta had a round of layoffs today where not only were they laying off, you know, thousands of employees, which I think you're about to get into now, but they also removed, I think, 6,000 postings as well.
Speaker A:So this is a very interesting way of handling it.
Speaker A:So Zuckerberg and his team decided that, and this has made the news headlines, that he told everybody to stay home today, Wednesday, May 20, and that they were going to have a pretty significant round of layoffs.
Speaker A:He was very forthcoming with that.
Speaker A:First of all, if you're one of the employees of this company, I cannot imagine the stress that you may have been under sitting and waiting.
Speaker A:Right.
Speaker B:I mean, they're putting them through this like every other quarter at this point.
Speaker A:And he said, this is gonna be the last round this year, which I don't know this.
Speaker B:Okay.
Speaker B:Like, that makes me feel better.
Speaker B:I don't know that it does.
Speaker A:And I don't know that that's something he can really promise, candidly.
Speaker A:So employees were told in April that a 10 reduction in the workforce is coming on May 20th.
Speaker A:And earlier this week they were reportedly informed that another 7,000 staffers would be reassigned to AI focused positions.
Speaker A:Now, he's been very clear about how he expects people to manage more and do more because of the efficiencies are getting from the utility utilization of AI.
Speaker A:So, you know, this is 8,000 layoffs.
Speaker A:And Meta's offices are set to be mostly deserted Wednesday after Human Resources chief Janelle Gale told North American employees to work from home in an email this week, according to internal documents.
Speaker A:The email of layoff that went out to notify people went out at 4:00am so you essentially woke up to that.
Speaker A:And sometime today there was some audio that was leaked.
Speaker A:And this came from a prior meeting.
Speaker A:I was like, I think it was an all hands meeting where he was asked a question specifically about kind of the monitoring of devices.
Speaker A:And I found this to be really interesting because I had.
Speaker B:Is this where they're tracking the mouse?
Speaker B:Mouse tracking?
Speaker A:It's a little bit different than that.
Speaker A:This is leaked audio.
Speaker A:And this came from your boy Ben over at Perfect Union.
Speaker A:Okay.
Speaker A:Yeah, my boy, huh?
Speaker A:Your boy.
Speaker A:I mean, you guys both hate crypto as much, right?
Speaker A:So I think that that's a pretty fair comparison.
Speaker A:So this is via Instagram, but the whole, the whole audio is there.
Speaker A:This is Perfect Union leaked audio.
Speaker A:I'm going to play it now.
Speaker A:This is relatively long, so I apologize in advance, but.
Speaker A:So I want to set the frame here.
Speaker A:Right?
Speaker A:So Zuckerberg has a responsibility as a fiduciary to the shareholders to maximize shareholder value.
Speaker A:I am not making him out to be the bad guy by.
Speaker A:He actually handled this question very well.
Speaker A:But the answer is, truthful as it may have been, is almost like an indictment of where we're going.
Speaker A:And I think that the, the baseline for everybody that they need to understand is like we talked about on shows as well in the past, like with Tesla, where you go, oh my God, I'm getting a great vehicle.
Speaker A:You don't realize you're the data source for Tesla.
Speaker A:You are those Waymo vehicles rolling, giving them data all the time, right?
Speaker A:That's what you do, right?
Speaker A:You're basically paying to give Tesla your data.
Speaker A:And Tesla's biggest function is they aggregated a ton of data about all of us and our driving and maps and everything else, right?
Speaker A:So this AI is not dissimilar in that the LLMs, the models that we query for information We Ask questions are actually being trained by us.
Speaker A:Yeah, yeah, but what if a company was doing that more aggressively?
Speaker A:You wouldn't wait for Saeed, my employee, to go query LLM and LLM to learn from it.
Speaker A:You would just monitor everything that Said was doing.
Speaker B:Yeah.
Speaker A:Now you can put a nice little pretty ribbon on this and say, say is a brilliant engineer.
Speaker A:And because he's a brilliant engineer and his average intelligence is better than most people in the street, I want to get inside of his brain.
Speaker A:But in fact, what you're doing is teaching your AI what Said does every day and how he does it every day.
Speaker A:Right, right, right.
Speaker A:And you and I were talking before the show that our AI can now manipulate our real time live platform and feeds data into it.
Speaker A:It can listen in on what we're doing, it can do things automatically and.
Speaker B:I can suggest things to bring up on the show.
Speaker A:That's right.
Speaker A:And I was telling you today, like I wanted to change some things and it literally, because I didn't realize I'd given it access, tunneled in to our server, made the changes, and then spit back to me the answer, like, I fixed all those things for you already.
Speaker A:It's done.
Speaker B:Welcome.
Speaker A:And I was like, what?
Speaker A:Yeah, like, it just blew me away.
Speaker A:And I've given him the autonomy to do so.
Speaker A:So again, grain of salt here, but this is somewhat demoralizing if you're working at Facebook, but I'll let the audio speak for itself.
Speaker A:I know layouts are top of mind, but there were also some updates this week around and a question around employee device tracking.
Speaker A:So can you share more on employee device tracking?
Speaker A:I think the way that it was announced left folks.
Speaker A:Yeah.
Speaker E:So, okay, let's talk about what we're doing.
Speaker E:You know, like Alex just said, going into what makes these AI models great.
Speaker A:Right.
Speaker E:There's basically a few key ingredients.
Speaker E:There's getting the research and the architecture good.
Speaker E:There's having good infrastructure which is both the quantity of compute, but like, as important, if not more is, is also just like, how efficiently can you use it?
Speaker E:How reliable is it?
Speaker E:What, like, what is the quality of that?
Speaker E:And then the third piece, which is in some ways, it's hard to say that any of these are more important than the other because they're all necessary, is effectively the data and what knowledge it learns.
Speaker E:So we're in a phase where basically the AI models learn from having really.
Speaker E:From watching really smart people do things.
Speaker E:And if you're trying to get it to be able to, to be able to do certain capabilities, having it be able to observe really smart people doing those things isn't.
Speaker E:Is very important.
Speaker E:So there are a few examples of where we're trying to do this across the company because.
Speaker A:So I want to pause right here and just be clear that we've talked about this a long time ago, probably about a year and a half, two years ago, that the commitment to AI and infrastructure starts with the building the models, but the data in training the models is the most valuable component.
Speaker A:Right.
Speaker A:Well, the humans are obviously doing that.
Speaker A:Now in this case, the humans are doing it without their knowledge, without their direct involvement.
Speaker B:Yeah, yeah.
Speaker A:He's basically saying, you guys are so smart that we're monitoring you.
Speaker A:Yeah.
Speaker A:It's going across all devices, but you're so smart.
Speaker B:Yeah.
Speaker B:This is a great justification.
Speaker A:I just want to tap into these really smart people.
Speaker B:What am I doing that's so wrong?
Speaker A:Because across the company.
Speaker A:1.
Speaker A:As he says, 1.
Speaker E:One basic insight and hypothesis that we have is that a lot of data generation across the field is done by these, like, contract companies.
Speaker E:Alex knows a bunch about this because he ran one before coming here.
Speaker E:But in general, the average intelligence of the people who are at this company is significantly higher than the average set of people that you can get to do tasks if you're working through the contract.
Speaker A:Okay, we are not lab rats.
Speaker A:Okay.
Speaker A:For you to make the generalized assumption that your lab rats are smarter than the exterior lab rats.
Speaker A:So you're going to experience experiment on your lab rat.
Speaker A:It's just, why are we doing this?
Speaker B:And I want to explore the idea of.
Speaker B:Because you've been in the seat before, right?
Speaker B:Where you're an executive at a publicly traded company and you have a fiduciary responsibility to provide the greatest return for your shareholders.
Speaker A:Right.
Speaker B:But it's like, at what point do we draw the line where it's like, okay, that it kind of feels like a cop out?
Speaker A:It does.
Speaker B:You know, it's like.
Speaker B:It's like a catch all.
Speaker B:Like, I can do no wrong as long as I say that I'm doing this in the best interest of the shareholders.
Speaker B:Right.
Speaker B:And of course, you can make anything, anything a justification.
Speaker B:Right.
Speaker B:It's like.
Speaker B:And I can begin to treat you like a lab rat because I want to do what's best for my shareholders.
Speaker A:Right.
Speaker A:And you're like, yeah, no, this is a real problem.
Speaker A:And this is where I think people demonize the billionaires.
Speaker A:But what we really should be demonizing is the corporate infrastructure that allows all of this.
Speaker A:And it's part of the reason why I'M like, why aren't we taxing corporations more?
Speaker A:Okay.
Speaker A:And if you want to have these tax benefits, I'm not going to let you Google, go to Ireland and get some remote wild ass hair brain scheme.
Speaker A:Tax strategy allows you to pay nothing.
Speaker A:Right.
Speaker A:I'm going to say you want those tax benefits.
Speaker A:Go enrich society.
Speaker A:Yeah.
Speaker B:You want those tax benefits, employ more people.
Speaker A:Yeah.
Speaker A:Or hey, do something for people since you're not going to employ them.
Speaker B:Yeah, right.
Speaker A:Like I get it.
Speaker A:You want to write down your, your, your revenue because you don't pay all those taxes.
Speaker B:And their argument of course would always be, look, I, I didn't make the rules.
Speaker B:Look, society wants this.
Speaker B:I had.
Speaker B:Look, the whole market wants a better return.
Speaker B:So what they're like, I can't be the one to now change it while every other company's out there still being greedy.
Speaker A: So, you know, prior to: Speaker B:But who's going to stand on business?
Speaker A:Get me?
Speaker A:That's what we're here for, you and me.
Speaker A:Stand on business.
Speaker B:Come on.
Speaker B:Yeah, I need Tim Apple.
Speaker A:What's his name again?
Speaker A:I'll tell you right now, I'm calling it, I'm never learning his name.
Speaker A:What's the new CEO of Apple?
Speaker A:Oh, Tim Apple.
Speaker A:It don't matter.
Speaker B:Tim Apple.
Speaker A:Tim Apple.
Speaker A:Yeah.
Speaker A: So let me be clear about: Speaker A:2%.
Speaker A:Today 62% of Americans own at least one piece of stock or some type of ownership in a company.
Speaker B:And it's our goal is to make that even more.
Speaker B:It should be way more.
Speaker F:It is.
Speaker A:But at the same time, we've seen the world change dynamically, financially, I mean, the old.
Speaker A:I was talking to my dad a little earlier today and he was like leaning hard on you gotta buy real estate.
Speaker A:More real estate.
Speaker A:So I'm more real estate sign.
Speaker A:And I'm like, man, do I. I don't know.
Speaker A:Yeah, I'm actually kind of thinking about selling it all.
Speaker A:You know what I mean?
Speaker B:Yeah, it's kind of a headache.
Speaker A:He's like, what are you gonna do with all of it?
Speaker A:I'm probably gonna pit my ride.
Speaker A:I'm gonna call exhibit up, see what.
Speaker B:He's up to or bring it back.
Speaker A:Yeah, yeah, yeah.
Speaker A:But I, you know, I think of all these things a lot and about the corporate fiduciary, responsibility and, and how, like I know that when I left my company I felt very demoralized by the exit and I make cheeky comments and I make some attacks here and there.
Speaker A:But at the end of the day.
Speaker A:It was the corporate machine that ate me up and spit me out, you know, and it wasn't a personal attack.
Speaker A:At least I don't well say it was kind of a personal attack.
Speaker A:I recant the statement.
Speaker A:It should not have felt like a personal attack, but it did because it was.
Speaker A:But what I will say is money.
Speaker B:Both things can be true though.
Speaker A:Yeah.
Speaker A:Money, greed, power and manipulation all come along with this.
Speaker A:And even if you had the best humans in the world in those seats with a great moral compass, their job is not to have a moral compass in that position.
Speaker A:Their job is to go, how can I enrich the shareholder?
Speaker A:How can I give them a better return on investment?
Speaker A:Their job is.
Speaker A:The problem is, let's just say hypothetically, I am Zuckerberg here and I decide that I am not going to do this.
Speaker A:I'm not going down this path.
Speaker A:I better have a damn good answer to the shareholders who bought my stock, hoping for my stock price to go up.
Speaker A:Right.
Speaker A:If I chose not to take this path.
Speaker B:Yeah.
Speaker A:Now in his case, he's burned a lot of money on things like virtual reality that didn't pay out.
Speaker A:You know, so maybe you can make a pitch one or the other.
Speaker B:But some of this could very well be in, let's just say an earnings call or, you know, the Q and a portion or some type of forward guidance where you get, look, it's your job to sell people too on the mission and if the mission is better for a long term approach by keeping the employees.
Speaker B:Find a way, dude.
Speaker A:Yeah.
Speaker A:This is also where it gets a little murky too.
Speaker A:So it is not uncommon for CEOs and CFOs or chief marketing representatives to reach out to the analysts who cover your stock and say, hey, what is it that you want to hear from us?
Speaker A:What do you want to know?
Speaker A:What questions do you have?
Speaker A:We'll try to get to those on the call.
Speaker B:Yeah.
Speaker B:And they won't tell you exactly.
Speaker B:They'll be like, you know, this, like, this is kind of like what we're seeing, what we're hearing.
Speaker B:And this was what you know.
Speaker A:Yeah.
Speaker A:Now you can't give them forward guidance, you can't give them insider information, but you can, you can interface with them a little bit, but they also pay it forward.
Speaker A:So on the call they're not going to blindside you with a question you didn't already know was coming or you didn't reasonably anticipate.
Speaker A:So a lot of those things, unless there's something they want to speak about, don't typically get challenged on the earnings call format.
Speaker A:It's usually the media or somebody with enough clout in the business space to call you out and be like, hey, hey, man.
Speaker A:Hey.
Speaker A:Remember that virtual reality thing, dog?
Speaker B:Yeah.
Speaker B:What happened?
Speaker A:That was a big check.
Speaker B:That was a lot, bro.
Speaker A:Yeah, well, what.
Speaker A:What happened here, bro?
Speaker A:Right.
Speaker A:Yeah.
Speaker A:So, yeah, it's.
Speaker A:It's.
Speaker A:It's a problem.
Speaker A:And I'm not saying the ecosystem is clean by any way.
Speaker A:Straight, you know, any way.
Speaker A:No shape or form here.
Speaker A:But I will say that companies, man, need to be held to.
Speaker A:You ready for it?
Speaker A:Yeah.
Speaker A:The higher standard.
Speaker A:Hey, yeah.
Speaker B:You know, where.
Speaker B:Where we're at now.
Speaker B:I kind of.
Speaker B:I. I wish we could go back in time.
Speaker B:I really wish the metaverse verse would have worked out.
Speaker B:And that was it.
Speaker B:That was the end of it.
Speaker B:It just another world.
Speaker A:Why?
Speaker A:Because you buy a piece of real estate next to sn, next to Snoop.
Speaker B:D. I just wanted.
Speaker B:I was ready for Ready Player One.
Speaker B:And I was.
Speaker A:Yo, Ready Player One is not necessarily wrong yet.
Speaker B:A very underrated movie.
Speaker A:Very underrated movie number one.
Speaker A:Number two, there's a lot of dystope.
Speaker A:I feel like we're in a dystopian reality now.
Speaker A:Like, I feel like some of the stuff that I. I like, I hear about is so crazy that I'm like, this can't be reality now.
Speaker B:Yeah.
Speaker A:And I. I'll give you an example.
Speaker A:Right.
Speaker A:So we're in a world where we're going to hear Elon Musk in a little bit.
Speaker A:Talk about low side, 100 million robots.
Speaker A:Low side, low side, high side, 1 billion robots.
Speaker A:Okay.
Speaker A:I'm just going to be the guy who says the obvious thing.
Speaker A:Yeah, yeah, yeah.
Speaker B:Right.
Speaker A:I'm sorry if this is negative.
Speaker A:I don't want to hurt anybody's feelings.
Speaker A:A lot of sensitive people out there.
Speaker B:Yeah.
Speaker B:Be careful.
Speaker A:Yeah.
Speaker A:That's going to affect jobs.
Speaker A:Despite what homeboy said in the beginning about not seeing the unemployment number.
Speaker A:Like that happens.
Speaker B:Yeah.
Speaker A:If we get to Will Smith, I am robot.
Speaker A:And we all got robots.
Speaker A:Not just agentic.
Speaker A:AI agents, but robots.
Speaker B:Yeah.
Speaker A:Here's the problem that nobody's touching.
Speaker A:Right.
Speaker A:Here's the issue so far.
Speaker A:AI is rumored to likely affect white collar jobs.
Speaker A:You're a lawyer.
Speaker A:If you're basically sitting in front of a laptop, it's going to affect you.
Speaker G:Yeah, Right.
Speaker A:You're an analyst.
Speaker A:You look at numbers all day long.
Speaker A:You're a doctor in some cases.
Speaker A:You look at data, humans, health data.
Speaker A:Right.
Speaker A:Everybody's got wearables now.
Speaker B:Yeah.
Speaker A:A Lot of our data is tracked.
Speaker A:Everybody gets sleep tracking.
Speaker A:I mean it's getting more and more ingratiated into data.
Speaker A:Well if we have robots, that affects blue collar jobs, that's your workers, that's your, your physical labor.
Speaker B:Yeah.
Speaker A:Right.
Speaker A:So now wait a minute.
Speaker A:All of you who are like I'm safe, I'm a plumber.
Speaker A:Are you dog?
Speaker B:Yeah.
Speaker A:I mean you're probably farther out.
Speaker B:Yeah.
Speaker A:I'm just saying.
Speaker A:But you might not be that much far out.
Speaker A:And this is where I look at the cadence of technology in the way corporate.
Speaker A:This is why I look at the stock market.
Speaker A:Right.
Speaker A:The stock market today is a great example.
Speaker A:The homebuilders sentiment from national association of Home Builders came out positive.
Speaker A:And one of the major home builders reported a great an earnings beat.
Speaker A:They beat expectations on the selling of luxury properties.
Speaker A:And every polter group, Everybody was like 6, 8% up today.
Speaker A:I'm like what the.
Speaker B:Yeah, yeah.
Speaker A:I'm like geopolitical conflict.
Speaker A:President came out, said we're close to a deal, bro.
Speaker A:Yesterday you're talking about jihad and shit.
Speaker B:Yeah.
Speaker B:They were literally close to a deal two weeks ago.
Speaker A:And the market was positive.
Speaker A:Meanwhile the bond market is still.
Speaker A:It came off the 10 year came off like a, like a relatively close high in the last 52 months.
Speaker A:But it was at a 52 month high.
Speaker A:I'm sitting here going like, okay, the bond market says you lying.
Speaker B:All, all the work that you know everybody did from agencies to the government to every, everybody to bring mortgage rates down below 6% gone evaporated in two months.
Speaker A:Yeah.
Speaker B:Just like that.
Speaker A:Yeah.
Speaker B:And now, now good luck.
Speaker A:I don't think it'll be permanent though.
Speaker A:I really don't bro.
Speaker B:Inflation's headed the wrong way.
Speaker A:It is.
Speaker B:PPI is headed the wrong way, meaning more inflation to come.
Speaker B:The bond market you saw 30 year, that was a big deal.
Speaker B:It hadn't hit been that high since, you know.
Speaker A:I agree.
Speaker A:But it can't if it goes that high.
Speaker A:We have such monumental problems in the economy.
Speaker A:Right.
Speaker A:Okay.
Speaker A:Number one, home affordability goes.
Speaker A:It's every 1% of affordable of rate increase is 10 of your home's value.
Speaker A:Yeah, right.
Speaker A:So think that through like okay, the valuation is just not good.
Speaker B:Okay.
Speaker A:These are approximations.
Speaker A:The bond market going up, national debt goes up, our debt payments go up.
Speaker A:I mean there, there is so you can expect people in government that clearly have a spending problem, not a revenue problem when their money gets tight because they can't spend money they don't have.
Speaker B:But they're, but they are going to have a revenue problem.
Speaker B:That's the problem.
Speaker A:They already.
Speaker B:People are going to.
Speaker B:People are going to be earning less.
Speaker B:Individuals, corporations, everyone's paying less in tax revenue.
Speaker B:Meaning you're going to have to borrow more to pay to pay down those debts.
Speaker A:Right?
Speaker B:When you have to refinance that debt, you gotta do the whole.
Speaker B:It's a cocktail of problems.
Speaker A:So here.
Speaker A:Here's the problem.
Speaker A:Okay?
Speaker A:And this.
Speaker A:This is the.
Speaker A:This is a dystopian future.
Speaker A:This is the part that freaks me out.
Speaker A:And I'm already seeing it.
Speaker A:And I know you've seen this too.
Speaker A:Okay?
Speaker A:We haven't talked about this, but it's a real problem.
Speaker A:You remember I am robot Will Smith.
Speaker B:Yeah.
Speaker A:Yeah.
Speaker A:Back.
Speaker A:Pre slapped Will Smith.
Speaker A:When it's okay to watch.
Speaker B:Most things are pre slapped.
Speaker A:Yo, I love.
Speaker A:First of all, I still love Will Smith.
Speaker A:I still want him to do well.
Speaker B:What?
Speaker B:Yeah.
Speaker B:I. I knew so much of my childhood, but I don't know.
Speaker A:You.
Speaker A:You.
Speaker A:You cannot slap my Will Smith away.
Speaker A:Really?
Speaker A:And honestly, I like Chris Rock.
Speaker A:He's a good dude.
Speaker A:Not that upset about the slap.
Speaker B:What?
Speaker A:Yeah.
Speaker B:What did he do wrong?
Speaker A:Nothing.
Speaker B:He didn't do anything wrong.
Speaker B:No, come on.
Speaker A:But he didn't bruise him.
Speaker B:Stop.
Speaker A:I mean, I'm just saying, like, he didn't get charged.
Speaker A:You know what I mean?
Speaker A:Like, in the grand scheme of, like, criminal activity, he slapped another grown ass man on national television.
Speaker A:They both got some good headlines and some media out of it.
Speaker A:Chris.
Speaker A:You know, Chris Rock went on when a media tour.
Speaker A:Let's just be honest.
Speaker A:Nobody really lost except for Will Smith.
Speaker A:Let the man have his comeback.
Speaker A:I'm here for the comeback tour.
Speaker B:Everybody deserves to come back.
Speaker B:Everybody.
Speaker A:Not Jada.
Speaker A:No, she's out.
Speaker B:Yeah, she's out.
Speaker A:I don't like the red table talk.
Speaker A:Sorry.
Speaker A:Not a fan.
Speaker B:Yeah.
Speaker B:Because what she's doing to Will on the.
Speaker B:On the red table talk is.
Speaker A:It's not even that.
Speaker A:I just don't like the whole premise.
Speaker A:The whole thing.
Speaker A:I don't.
Speaker A:I like it.
Speaker B:I just don't like.
Speaker B:I just don't find it acceptable to be talking about, you know, past relationships when you're married like that.
Speaker A:Yeah.
Speaker A:The August Alsina thing?
Speaker B:No, no, not even.
Speaker B:Not even that.
Speaker B:The whole Tupac thing.
Speaker A:Yeah, there's a lot there.
Speaker B:It's a lot.
Speaker A:It's just, you know how, like, when someone else is having a conversation in the room, you're just like, I need to get out of here.
Speaker B:This is a wildly uncomfortable.
Speaker A:I feel like most of her conversations Are like that.
Speaker A:I'm like, please get me out.
Speaker A:I don't wanna.
Speaker B:I don't understand the draw.
Speaker B:I really don't get.
Speaker B:Anyways, she was a very beautiful woman in the process.
Speaker B:No, no.
Speaker B:Beautiful or not.
Speaker B:But hold on.
Speaker A:Matrix.
Speaker A:Jada Pinkett Smith.
Speaker A:Very, very beautiful one.
Speaker A:Okay, yeah.
Speaker A:Current Red Table talk.
Speaker B:I'm not saying she's not beautiful.
Speaker B:That's not what I'm saying.
Speaker B:I'm just saying I find her wildly annoying.
Speaker A:I'm just trying to find a compliment to take this thing off of me.
Speaker A:Not like.
Speaker A:So back to the story.
Speaker A:Okay, so.
Speaker A:So Will Smith in I Am Robot.
Speaker A:There was like a cohort of people.
Speaker B:Yeah.
Speaker A:Who were like, all against, like, oh, those are robots.
Speaker A:I don't like the robots.
Speaker A:Robots, robots.
Speaker A:Bad robot.
Speaker A:I don't want a robot in my house.
Speaker A:Will Smith was one of them.
Speaker A:Like, he was in, you know, detective who didn't like robots.
Speaker A:And, you know, Spooner.
Speaker A:Yeah.
Speaker B:Right, right, right, right, right, right.
Speaker A:I'm up here.
Speaker A:Well done.
Speaker A:Yeah.
Speaker A:And he didn't like the robots.
Speaker A:I'm already seeing like the anti AI, like arc creating itself.
Speaker A:Right.
Speaker A:People are so.
Speaker A:Eric sm.
Speaker B:Oh, it's here, bro.
Speaker A:Exactly right.
Speaker B:It's here.
Speaker B:There.
Speaker B:There are like communities across the US that have voted down against data centers.
Speaker A:Well, I understand, but there's other reasons for that though, right?
Speaker A:Yeah, they don't want it, but I'm seeing like.
Speaker A:So Eric Schmidt from Google went and did a. I think it was like a valedictorian speech or like some type of commencement speech or something.
Speaker A:I don't.
Speaker A:I have no idea.
Speaker A:What is that?
Speaker A:They were booing him.
Speaker A:Good.
Speaker A:There's a billionaire.
Speaker B:Yeah, yeah.
Speaker A:He brought up.
Speaker A:He just said the word AI.
Speaker A:They're like, boom.
Speaker A:And the news articles came out and saying because he had a super young girlfriend.
Speaker A:But I'm like, nah, it's because he said AI to a bunch of kids graduating college, bro.
Speaker B:Think about it.
Speaker B:All the kids that four years ago, if a kid was going into college, everybody was telling them, bro, you got to go in.
Speaker B:You got to learn how to code.
Speaker A:Yeah.
Speaker B:Whoops.
Speaker B:My bad.
Speaker A:Yeah.
Speaker B:I hope that all of you didn't get a student loan.
Speaker A:So this.
Speaker B:But this.
Speaker A:This is a two way street, right?
Speaker A:Like, how many y' all are cheating with AI?
Speaker A:At least.
Speaker A:At least 70% of y'.
Speaker G:All.
Speaker B:Well, hold on.
Speaker B:Everybody was cheating before we even.
Speaker B:Just with the Internet.
Speaker B:Come on, people.
Speaker B:People been cheating.
Speaker A:I'm not disrespect the cheaters.
Speaker A:I'm just saying if that's don't hate, bro.
Speaker B:People are.
Speaker B:People use it to cheat at work now.
Speaker B:Why can't I use to cheat on a test?
Speaker B:That's what people do in the real world.
Speaker B:I don't get it.
Speaker A:First of all, this cheat label.
Speaker B:Yeah.
Speaker A:Efficient.
Speaker G:Yeah.
Speaker B:I'm being more efficient.
Speaker B:I'm answering the question faster.
Speaker G:Yeah.
Speaker A:You know, right.
Speaker A:If you're a college student right now and you don't have enough API tokens.
Speaker A:Yeah.
Speaker A:Like you're just creating fake accounts.
Speaker B:Right.
Speaker A:Getting the free access to get your work done.
Speaker A:Yeah.
Speaker A:Like pimping API tokens from your friends.
Speaker A:Hey, doc, Doc, it's give me a little hit tokens.
Speaker A:That's all.
Speaker A:Yeah, yeah.
Speaker A:You know, like it's that bad.
Speaker B:I, I literally had, I literally asked it for a prompt and it gave me a very generic like response the other day where it's clearly AI and then the follow up response is now make it sound colloquial.
Speaker B:It's making.
Speaker A:I do that all the time.
Speaker A:Yeah, humanize this.
Speaker B:Make it sound like the higher standard, please.
Speaker A:And I like, I'll, I'll remove like the, the long dash and put in three dots.
Speaker A:Three periods.
Speaker B:Have to.
Speaker A:I'm up here long.
Speaker B:Dad.
Speaker B:Long dash is.
Speaker B:Long dash is dead giveaway.
Speaker A:Yeah.
Speaker A:Everyone's like, no, no, people use that before.
Speaker A:That's why I use it.
Speaker A:I'm like, yeah, that's exactly why I don't use it now.
Speaker A:I want to look stupid.
Speaker A:Right.
Speaker A:That's the point.
Speaker B:Right, right.
Speaker A:You're like, I put together a memo the other day and it had a bunch.
Speaker A:Because I can't spell to save my ass.
Speaker A:Had a bunch of spelling errors in it.
Speaker A:Yeah.
Speaker A:Someone called me like, well, at least we know AI didn't do it.
Speaker A:I'm like, that's right.
Speaker B:So I should probably tell the listeners that I started a new gig.
Speaker B:Right.
Speaker B:And, and how is the trim business day?
Speaker A:It's fine.
Speaker B:It's fine.
Speaker B:But we won't get into too much of the detail.
Speaker B:But so in this new role, right.
Speaker B:It's, it's managing a small team and somebody in a meeting dropped, dropped the term bottleneck.
Speaker B:And I almost, I looked at, I was like, hey, we're cutting that out right now.
Speaker B:We're not using that, that corporate language here.
Speaker B:Just get to the point.
Speaker B:You don't have to impress me.
Speaker B:Don't be like the real bottlenecks here in the process.
Speaker B:Don't do that.
Speaker B:I'm not, Listen, I'm not that guy.
Speaker B:What's your.
Speaker A:And okay, so what, what I'm hearing is.
Speaker A:Is that the KPI?
Speaker B:Yeah.
Speaker B:I'm not talking about key performance indicators.
Speaker A:Are not aligned with our execution in our eternal sla.
Speaker B:Yeah, you read the room wrong by coming at me with some of this terminology.
Speaker B:Sorry.
Speaker B:Yeah, you missed.
Speaker A:Do you see this tattoo?
Speaker B:You see.
Speaker B:Hold on.
Speaker B:Do you see the fade?
Speaker B:Like, I'm.
Speaker B:I'm hip to it, bro.
Speaker B:See the man bunny?
Speaker A:Yeah, yeah.
Speaker A:I'm not that guy.
Speaker A:Yeah.
Speaker A:Okay.
Speaker A:So anyways, let's finish up with Zuckerberg.
Speaker A:I got a lot more to go through, and then I got a special prize for you, a new tool.
Speaker F:Contractors.
Speaker E:So if we're trying to teach the models coding, for example, then having people internally build tools or solve tasks that help teach the model how to code, we think is going to dramatically increase our model's coding ability faster than what other others in the industry have the capability to do who don't have thousands and thousands of extremely strong engineers at their company.
Speaker E:So that's one example.
Speaker E:Another thing that our.
Speaker E:That our system needs to be very good at is using computers.
Speaker E:So the way that you get a system to be good at using computers is by having it watch really smart people use computers.
Speaker A:Watch really smart people use computers.
Speaker B:Yeah, Watch that.
Speaker B:Look.
Speaker B:I think I also saw a report recently too, that companies are starting to realize that, like, the cost of.
Speaker B:Of all the AI that they're inputting into their companies, they're not seeing a return on that anytime soon.
Speaker A:No.
Speaker B:So they're backing out.
Speaker B:Some companies are backing out because it doesn't make sense right now.
Speaker A:Unless you're developing it.
Speaker A:Why would you.
Speaker B:Yeah, yeah.
Speaker A:Why wouldn't you?
Speaker B:Exactly.
Speaker B:I'm not.
Speaker B:Why.
Speaker B:Why get into it until.
Speaker B:Until it's, like, been solved.
Speaker A:Yeah.
Speaker A:Right, with the rubric.
Speaker A:Dude, you have just.
Speaker A:The last two days, I've probably blown like $300 on API token.
Speaker B:That's what I'm saying.
Speaker A:I'm sitting here going like.
Speaker A:I look.
Speaker A:I look at it sometimes and like, I'll literally be behind the screen, like, tapping, you know, And I'm like, man, fuck you.
Speaker A:I get so mad at the screen.
Speaker B:Because, you know, you know you need it.
Speaker A:Yeah.
Speaker A:Because I got my AI agent.
Speaker A:AI.
Speaker A:I've got Claude open to triple check him.
Speaker A:Right.
Speaker A:And then I got open AI chatgpt open because it's free.
Speaker B:Yeah.
Speaker B:What would you need to see to abort mission or mission?
Speaker A:On what?
Speaker A:Yeah, on this.
Speaker B:The whole thing.
Speaker B:Will you be like, honestly?
Speaker B:Because, you know, like, right now it might for some people that are in your shoes, they feel like Man, I'm pot committed.
Speaker A:Oh, I'm pot committed.
Speaker B:I know you're positive.
Speaker B:Now you're like, I gotta see this through.
Speaker A:Don't do.
Speaker A:I mean it's not even.
Speaker A:It's not.
Speaker A:Yeah, no, that's what I'm saying.
Speaker B:Right.
Speaker B:So like there's, there's absolutely nothing now.
Speaker B:You're in this for life.
Speaker A:It's not emotionally invested.
Speaker A:I'm so financially.
Speaker A:That's what I'm saying.
Speaker A:You're pot committed and functionally invested.
Speaker A:Every morning when I get up, I get a morning brief.
Speaker A:Like when I do like live shows.
Speaker A:Yeah.
Speaker A:I mean I'm.
Speaker A:I've got like a full on.
Speaker A:It's like asking me to get rid of my assistant after having my assistant for like a day.
Speaker A:Decade.
Speaker B:Right.
Speaker A:Like I can't function.
Speaker A:Excel.
Speaker A:What?
Speaker B:Yeah, I know.
Speaker A:And I don't know if how many of you guys know this.
Speaker A:You can plug your cloud into Excel, into word, into PowerPoint.
Speaker A:Yeah, bro, I did that the other day.
Speaker A:It was at the gates of heaven opening up and like it was prompting stuff.
Speaker A:Now it's like imagine me having an analyst sit in front of me and me sitting behind him, just tapping on the shoulder, hey, dog, do this.
Speaker B:Yeah, I remember what it is.
Speaker B:I remember pre pandemic when, because you know, like single family, like real estate transactions, like you could input it, you can input the underwriting and it like there's certain softwares that give you like a quick like green light, red light.
Speaker B:Yes.
Speaker A:No, right away.
Speaker A:Right.
Speaker B:And I was always like, man, at least I'm like spreading like sreos, like not going to be able to do that.
Speaker A:It's complex.
Speaker B:It's.
Speaker B:Yeah, it's.
Speaker B:They're not going to be able to do this.
Speaker B:And now it's like, damn, now you.
Speaker A:Got Zuckerberg saying, we'll just look at your screen and see what you do every day.
Speaker B:Yeah.
Speaker E:That's basically the essence of what we are trying to do here.
Speaker A:Doesn't make it any better, Zucks.
Speaker B:Right.
Speaker E:We are, we're rolling it out in a way that is like, you know, it's like we're basically.
Speaker E:We're not like actually no human or anything is like looking at or watching what you're.
Speaker A:We're not looking at your porn.
Speaker A:You're watching.
Speaker B:The machines are.
Speaker A:The machines are looking at the porn that you're watching.
Speaker A:For science based purposes.
Speaker B:Yeah.
Speaker E:What people are doing on their computers.
Speaker E:The content is sort of, you know, stripped out, of course, like as much as is possible.
Speaker E:It's like none of the data is being used for like looking at what people are doing or surveillance or performance tracking or anything like that.
Speaker E:It's purely just like we are using this to feed a very large amount of content into the AI model so that way it can learn how smart people use computers to accomplish tasks.
Speaker A:I can answer that question for you right now.
Speaker A:Your AI.
Speaker A:AI model is going to be a pervert when this is all done.
Speaker A:Yeah, yeah.
Speaker A:Why are all these engineers looking at porn all the time?
Speaker A:Right.
Speaker A:Because that's what smart engineers do.
Speaker A:AI, right.
Speaker A:Yeah.
Speaker B:That's what they do.
Speaker B:That's how they get the edge off.
Speaker A:Yeah.
Speaker A:Can you imagine spending billions of dollars just to get a perverted model out of it?
Speaker A:We use our smarter than average intelligence engineers to do it.
Speaker A:Have you ever talked to an engineer, Zucks?
Speaker E:Yeah.
Speaker B:Can you imag.
Speaker B:Can you imagine?
Speaker B:And then they just plug it in and prompt it to be like, do what Saeed did all day yesterday.
Speaker A:I'm not sure you want me on those sides, bro.
Speaker A:I went ahead and unblocked these myself.
Speaker E:I think that this is going to be a very big advantage if we can do it.
Speaker E:So anyway, that's what we're trying to do.
Speaker E:I think that there are going to be probably other things around the company where we basically try to enlist the fact that we have just like a very high quality set of people to teach the AI systems to do different things that we need to get them to be able to do over time.
Speaker E:So this probably isn't the last thing like this and there.
Speaker E:But I think this is like an interesting strategy.
Speaker A:I'm going to cut them off here.
Speaker A:So basically he's telling everybody without saying the words.
Speaker A:We are training it to do your jobs and over time it's going to do more and more of your jobs.
Speaker A:I'm going to need less of you.
Speaker A:Yeah, that's a sufficient enough.
Speaker A:Like, I mean, I'm extrapolating here also.
Speaker A:When did Zuckerberg start talking like a Valley girl?
Speaker A:Like.
Speaker B:So I was just gonna say, like, do you think.
Speaker B:Do you think that was strategically done that way?
Speaker B:Like these guys get coaching, right?
Speaker B:At this level you're getting coaching on how to deliver messages.
Speaker A:Oh, media.
Speaker A:Yeah.
Speaker B:So he's.
Speaker B:That was so very well said in a way to where it made it sound very innocent.
Speaker B:And I'm doing it for the good of the company and we just want it.
Speaker B:No, we just want.
Speaker A:He's just been in that seat for so long that the media training wasn't part of that.
Speaker A:I think it was just like look, he's, he's, he's been doing this for a very long time now, and that's just who he is.
Speaker B:But no one's buying that, right?
Speaker A:I don't think so.
Speaker A:Yeah.
Speaker A:It's kind of hard to tell anybody.
Speaker A:I'm surveilling on you for the greater corporate good.
Speaker B:Yeah, coming from.
Speaker B:Coming from the guy that's trying to develop the very thing to replace your job.
Speaker A:So this happened today.
Speaker A:A Fortune live media summit.
Speaker A:And the CEO of Bolt was, was part of this.
Speaker A:And I'm trying to find him here.
Speaker A:The WeWork CEO was there, the new guy.
Speaker A:John Santora, Chief people officer of PepsiCo.
Speaker A:Becky Schmidt, sick officer, works for Andrew Nori, Chief People Officer, Match Group.
Speaker A:Chief People Officer Tiaa.
Speaker A:Lots of people were at this, this, this conference.
Speaker A:Chief Executive Officer, Upwork Mayor of Atlanta.
Speaker B:There's Bolt right there.
Speaker A:What a stud.
Speaker A:Look at him.
Speaker A:Yeah.
Speaker A:Ryan Beslo from Bolt.
Speaker A:Well, Ryan Beslo from Bolt.
Speaker A:Well, you know what, Let me see if I can find on Instagram.
Speaker A:Real quick.
Speaker A:Let's see if I can find, find the actual quote, because I think it's.
Speaker A:It's kind of interesting how he says it.
Speaker A:You can't go on my Instagram at all.
Speaker A:It's terrible.
Speaker A:Where's this three?
Speaker A:All right, there we go.
Speaker A:Fortune back.
Speaker B:All right.
Speaker A:Perfect.
Speaker A:All right, let's go here.
Speaker A:CEO Bolt.
Speaker A:Let's find him.
Speaker A:Let's find him, let's find him.
Speaker A:Let's find him.
Speaker B:Right there.
Speaker A:There we are.
Speaker A:All right, so I'm going to play this.
Speaker A:He basically is saying that he got rid of his entire HR team, which may be a bad idea when you're working with a bunch of engineers, but according to Zox, it's doable.
Speaker A:Let's hear what he has to say.
Speaker D:Our team, why we had an HR team, right.
Speaker D:And that HR team was creating problems that didn't exist.
Speaker D:And those problems disappeared when I let them go.
Speaker A:Why, why did you get rid of your HR team?
Speaker D:We replaced it with a couple person people ops team, which was meant to just streamline people operations.
Speaker A:Okay.
Speaker D:I can't say that I would advise the same in a large company, but we're back.
Speaker D:We're back in startup mode again.
Speaker D:Those HR professionals have really important insights.
Speaker A:Yeah.
Speaker D:When you're in a peacetime and when you're at a larger company, but, you know, we're a remote company.
Speaker D:It's not like, you know, a lot of the potential issues that you would have in a workplace don't really exist because you're not in the same room as somebody we got rid of.
Speaker B:What?
Speaker F:Yeah, bro, I'm pretty sure that is not how that works.
Speaker B:Yeah, I feel like he's opening himself up to all kinds of litigation.
Speaker A:All right, so here's where this.
Speaker A:He is opening himself to all sorts of litigation, but it goes to show you the extents with which people are willing to go.
Speaker A:So that was really an efficiency argument.
Speaker A:Right.
Speaker A:He's like, oh, we're back in startup mode.
Speaker A:We're not at peacetime, we're at wartime.
Speaker A:Blah, blah, blah, blah.
Speaker A:Yeah.
Speaker B:What startup mode means what we all need a cool collaborate more and we need to grow.
Speaker A:Yeah, yeah, yeah.
Speaker A:I need you guys all in the same house.
Speaker B:And how does HR prevent that?
Speaker B:I don't get it.
Speaker A:They were creating problems that we didn't have, or people were complaining to your HR about going wrong.
Speaker A:You just don't want to hear about it.
Speaker B:Yeah.
Speaker B:And, yeah, they're forced to document it,.
Speaker A:But you heard, he said we replaced it with a couple of OPS people.
Speaker B:The ops?
Speaker A:Yeah, the ops.
Speaker B:Yeah.
Speaker A:Basically accounts payable, accounts receivable.
Speaker A:You know, make sure payroll gets run, stuff like that.
Speaker A:Yeah.
Speaker A:Well, and then all this happened.
Speaker A:And then I'm sitting here last night and I'm sitting, you know, in front of.
Speaker A:In front of my phone.
Speaker A:I'm fubbing.
Speaker A:Shout out to Regil.
Speaker A:What's up, Doc?
Speaker A:He's not here.
Speaker B:Yeah.
Speaker A:And I flubbed across this.
Speaker A:Is that was it the proper expression?
Speaker A:I flubbed across.
Speaker B:Go with it if you're good with it.
Speaker A:I flubbed around and found out you said, I just don't know.
Speaker A:I don't know the proper term here.
Speaker A:And I came across your boy Elon Musk here.
Speaker A:And your boy Elon is a scary dude for a number of reasons.
Speaker A:So he.
Speaker A:First of all, if you're Elon Musk, you can video conference into a live conference and then put you on a TV.
Speaker A:Right?
Speaker B:Yeah.
Speaker A:So this is from the Forbes Innovator 250 celebration.
Speaker A:And I gotta tell you, he says this, and it sounds extreme, but this is the same dude who's putting satellites in space and using rockets that go up and come back down, that can be used again, created Tesla.
Speaker A:So his hyperbole has not been without its merit.
Speaker B:Right.
Speaker B:I think.
Speaker B:Yeah.
Speaker B:What's.
Speaker B:What's more.
Speaker B:Well, I'll say after this.
Speaker A:All right, here we go.
Speaker G:It's going to happen in five years that you're seeing that maybe a lot.
Speaker A:Of people aren't seeing, that's going to blow people's minds.
Speaker A: So five years being, say: Speaker B:Let's say at least 100 million humanoid robots, but maybe a billion.
Speaker A:Yeah.
Speaker B:I predict that the economy is probably twice its current size in five, maybe six years.
Speaker A:Five to seven years.
Speaker B:Wait, can you pause that?
Speaker A:Because you're gonna.
Speaker B:I want to know.
Speaker B:Maybe I don't understand this.
Speaker B:You help me understand.
Speaker A:I. I'm an idiot.
Speaker B:Okay.
Speaker B:You help me understand his thought process, though.
Speaker B:If, if the rope, if there's gonna be 100 million robots or a billion robots.
Speaker B:Right.
Speaker B:Unless people are working.
Speaker B:And at that point, I'm assuming what he's saying is everyone's on universal basic income.
Speaker A:He's been a big proponent of that.
Speaker B:Right.
Speaker B:I mean, that's why.
Speaker B:That's what everyone in this space is essentially saying.
Speaker B:That's like the.
Speaker A:Which is.
Speaker B:That's the quiet part.
Speaker A:That's socialism.
Speaker B:Yeah.
Speaker B:That's the quiet part that no one is addressing.
Speaker A:Yeah.
Speaker B:Right.
Speaker B:Okay.
Speaker B:And our entire economy is based off of consumption.
Speaker B:How much universal basic income are you going to be?
Speaker B:Is everyone going to be dishing out for us to continue to consume at the rate at which we are currently consuming, for the economy to grow five to six times its size?
Speaker A:Well, not only that, but what is the consumption the economy is consuming at that point in time?
Speaker B:Yeah.
Speaker A:It's power.
Speaker A:Right.
Speaker A:It's utility.
Speaker A:It's compute.
Speaker A:Right.
Speaker A:And what does he have a stranglehold on?
Speaker A:He's putting compute in space.
Speaker A:He's literally going to put satellites in space for data centers.
Speaker A:Yeah.
Speaker A:So he has a vested interest in the outcome for a number of reasons.
Speaker A:He's got the vehicles to put it up there.
Speaker A:He has the infrastructure with his solar companies.
Speaker A:I mean, he's got a lot of hands in.
Speaker A:In this.
Speaker A:So again, I'm not discounting what he's saying here, but to answer your question, I think that this has a myriad of effects that affects downstream us, Number one, corporations are going to pay for that universal basic income if that were to ever come to life.
Speaker A:Okay, but if you're a corporation, you're gonna say.
Speaker A:Wait, wait, hold on a second, let me straight.
Speaker A:You want me to now pay for people I don't even employ?
Speaker A:That's right.
Speaker A:You want to know why?
Speaker A:Because you're not employing more people than you were before.
Speaker A:And I think to Jamie Diamond's point, if you don't want jobs taken by AI.
Speaker A:Right.
Speaker A:Assuming you believe in this and you're in the camp that you Think this is going to be real?
Speaker A:Then you have a government moratorium on how much terminations can take, how much AI can take people's jobs.
Speaker A:But again, this emotionally creates that divide, that creates the dystopian future where people hate AI, they hate the robots, they hate the machines, and it creates this emotional.
Speaker A:That machine took my job.
Speaker A:My dad did this job for 40 years until that machine came around and took.
Speaker A:Because I mean, this is like that dystopian movie stuff.
Speaker A:Yeah, like this, this is what it is.
Speaker A:And you listen to him and you ask, well, how does the economy get so big?
Speaker A:Well, it's a self sustaining ecosystem.
Speaker A:Right.
Speaker A:You're selling products to people who can buy it.
Speaker A:Well, who can buy it?
Speaker A:You have to, you have to take all that blue collar work we offshored, bring it back on.
Speaker A:Why?
Speaker A:Because even if you're paying illegal, irresponsible and terrible human, you know, humanitarian rights, child labor, law issues, and you're paying nickels and dimes on the dollar to people in third world countries, let's just say, who cares?
Speaker A:Some part of the world you can pay a robot less.
Speaker A:Your initial capital contribution over time, which can be a tax credit depending on how your capital expenditures work.
Speaker A:You pay less, you effectively have.
Speaker A:And I hate to say this because it's so stigmatized, but I want to be very clear.
Speaker A:You have digital slave labor.
Speaker B:Yeah.
Speaker A:Right.
Speaker A:Other than the upkeep of keeping them, you don't have to pay them any wages.
Speaker A:Right.
Speaker A:They work 24 hours a day, seven days a week.
Speaker B:And Congress is so slow to act.
Speaker B:Right.
Speaker A:Well, and Congress has these guys hands in their pockets.
Speaker B:There's also that.
Speaker B:Right.
Speaker B:But they're also.
Speaker B:Let's just give them the benefit of the doubt for the sake of the argument, right.
Speaker B:That they're so slow to react to where to create a system where you make it so expensive to have these, you know, and like an AI robot.
Speaker B:Right.
Speaker B:Or an agent.
Speaker B:Right.
Speaker B:Like that should have already been implemented.
Speaker A:Well, there's denial.
Speaker A:I mean, even if, even if I.
Speaker B:Didn't think that, I don't understand the denial.
Speaker B:That's, it's, it's false denial though.
Speaker A:You heard the guy that start the show, that guy's looking at the unemployment rate saying like, look, this is high.
Speaker A:I know really intelligent people that I respect immensely who blow a lot of this off as nft, like NFT adjacent.
Speaker A:And there's lots of people who listen to the show go, who's gonna go?
Speaker A:Chris Sayed, I'm tired of hearing about technology.
Speaker A:Yeah, me too.
Speaker A:Dude, yeah.
Speaker A:We didn't start this show with a technology arc.
Speaker A:But the problem is, is that's right.
Speaker A:When seven to 10 companies can, can pivot the mark.
Speaker A:What we saw today was bullshit in the stock market.
Speaker A:Absolute makes no sense, just completely disconnected to reality bullshit.
Speaker A:And the unfortunate reality had to affect is as we move forward, the s and P500 is going to be massively moved by technology.
Speaker A:Technology is a fundamental part of the stock market, of finance and of the business world now.
Speaker A:It's not just an AI buzzword like that guy said.
Speaker A:Oh, companies are just saying it because they want the buzzword cachet.
Speaker A:No, dude, they're not.
Speaker A:I mean there's certain amounts of that that's happening for sure.
Speaker A:You have to say it because again, you have to be a fiduciary.
Speaker A:Right.
Speaker A:Whether you plan to do it or not.
Speaker A:People are implementing.
Speaker A:If my stupid ass can put together an agentic AI in the studio and now be so dependent on it, what do you think happens in 5 years?
Speaker B:Years.
Speaker B:Right.
Speaker A:And these kids in college know this.
Speaker A:That's what they're doing.
Speaker B:Well, these kids in college that are just coming out of college and starting like these entry level jobs that are being, I guess they're analyzing the, how much usage they're using and the company AI because they want to see that you're finding ways to be more efficient.
Speaker B:I guess there's reports out now that they're just, they're maxing it out.
Speaker A:Yeah.
Speaker B:And they're, everything is, they're just, they're, they're, they're prompting it.
Speaker B:Well, I mean, just, just to skew the metrics.
Speaker A:And this is the problem too is like humans have this natural, I don't want to say desire to cut corners.
Speaker A:We try to find, we're, we're like rats in a maze in some ways.
Speaker A:Like we're going to find the most efficient path to give us the opportunity to do more of what we want to do and less of what we don't want to do.
Speaker A:And it's easy to, to assuage the idea of work by saying I can get a perfectly reasonable outcome by using this machine.
Speaker A:And I understand why.
Speaker A:And I'm not saying that I'm any different.
Speaker A:I understand why people do this.
Speaker A:I understand the impacts in the underlying background of how we get here.
Speaker A:So I'm not discounting the kids coming from college.
Speaker A:I understand the optimism too, where people are like, well be optimistic.
Speaker A:You know, this could create.
Speaker A:Yeah, I'm sure it can create a lot of jobs.
Speaker A:I'm Going to reframe this in a different way.
Speaker A:We have what is unquestionably the wealthiest generation of older Americans in this country than we've ever seen before in history.
Speaker A:On average.
Speaker A:Right.
Speaker A:The top 1% controls a whole lot.
Speaker A:These numbers are out there.
Speaker A:These are permeated.
Speaker A:This is not my opinion.
Speaker A:This is not speculation.
Speaker A:So we have this gap that's built on people who have assets and people who are trying to build and acquire assets.
Speaker A:And that's getting even more difficult as inflation.
Speaker A:All these things rise over time, over the course of history.
Speaker A: Let's go back to the: Speaker A:Everything has increasingly cost more.
Speaker A:We know the power of compound interest.
Speaker A:We talk about it a lot on this show in the early days.
Speaker A:And the reason why compound interest is so powerful in really brilliant minds have said one of the most amazing wonders of the world is the eighth wonder of the world.
Speaker A:The eighth one in the world is compounding interest.
Speaker A:Right.
Speaker A:Because you can take a very small amount and build to a very massive amount.
Speaker A:Well, if the cost of life has been compounding on the back of inflation in wages have not lifted off the same way because companies have been able to eke more and more profits and pay less and less to the workers.
Speaker A:And now you found a way, like Uncle Zuck's here, to train your internal space to do even less of that.
Speaker A:You have a problem that was foreseeable.
Speaker A:What was going to be the barometer for keeping the status quo of American life?
Speaker B:Right.
Speaker A:What.
Speaker A:What was going to be that?
Speaker A:And I say that as somebody who, who understands that I'm very fortunate to have the assets that I have.
Speaker B:Yeah, yeah.
Speaker A:But I'm also in this weird asset class too, where I don't know, you know, it just.
Speaker A:I look around thinking to myself, like, I'm not in that top, you know, upper echelon.
Speaker A:Like, I'm not good for life.
Speaker A:I'm good for a long time.
Speaker A:Yeah.
Speaker A:But who knows, you know?
Speaker A:And it's very concerning.
Speaker A:So I want to point out a couple things as well that I thought were really interesting that.
Speaker A:So before we get to Jeff Bezos, who made some similar arguments to Chamath and that I've made on the show before about taxes, I wanted to cover something that was a bit unexpected today that came up.
Speaker A:See if I can get to come up here.
Speaker A:Perfect.
Speaker A:Instagram.
Speaker A:Very good.
Speaker A:Okay.
Speaker A:So this guy, Atlas Barry double O8.
Speaker A:First of all, he's named after my agent, AI.
Speaker A:He's all about VC, the Silicon Valley Tech Spectre.
Speaker B:I've seen the text.
Speaker B:Yeah, I like the way he breaks things down.
Speaker A:He's really good.
Speaker A:Yeah, he's really, really good.
Speaker A:So he posted this today.
Speaker A:I thought this was really fascinating.
Speaker A:AI is coming for 3.7 trillion of wages.
Speaker A:Here's the data.
Speaker A:He didn't build this, but he's reporting on it.
Speaker A:And this kind of looks like what I would call a stock heat map, but it's based on jobs.
Speaker A:He explains it better than I could.
Speaker A:I'm going to put this in the show notes and link it.
Speaker A:So I think everybody can check this out.
Speaker A:But here, here it is.
Speaker A:Ready?
Speaker F:A chart from Andre Karpathi.
Speaker F:Now, first glance, it looks kind of like a stock market chart, but in actuality it breaks down in epic detail which US jobs specifically are most exposed to AI.
Speaker A:Now look at this.
Speaker A:It shows total jobs, BLS outlook, median pay, education, digital AI exposure, average outlook on job weight, jobs by outlook declining, slowing, average fast, much faster outlook tiers.
Speaker A:I mean this is and this very well done.
Speaker B:Yeah.
Speaker B:And it's going to go into what we've also covered on the show before, that the gains that we've seen in the job market have a lot to do with the healthcare sector, which does not always mean a good thing.
Speaker A:And you see them visually here.
Speaker A:Healthcare, personal care, registered nurses, secretaries, administration.
Speaker B:Yeah.
Speaker A:Nursing and assistants, medical assistance.
Speaker A:Yeah, those are the four highest, right?
Speaker A:And home care, Home health care and personal care is your highest green right now.
Speaker A:Everything else is not really so bright future.
Speaker A:But let's just play this through, play this out a little bit.
Speaker F:And what I think makes this chart much different than the anthropic data that we saw a couple weeks ago is that this one overlays real time data from the Bureau of Labor and Statistics.
Speaker F:So you don't just see the exposure, but you can actually see the economic impact in dollar terms to that AI disruption.
Speaker F:Now Andrej Karpathi was the former director of AI at Tesla, was one of the founding members at OpenAI.
Speaker F:And he had AI agents scrape the BLS data covering 143 million US jobs.
Speaker F:And then he ranked all three hundred and forty two job categories based on who's most exposed to AI.
Speaker F:Now we just click over to this tab that says Digital AI exposure.
Speaker F:That initial cover chart looks much different.
Speaker F:Now when you look at this, as we would assume, some of the most exposed jobs are accountants, financial analysts, lawyers, software developers, writers and designers.
Speaker F:Customer service, of course, basically any job that involves a laptop is highly exposed.
Speaker F:Karpathy's analysis shows that 25 million jobs are what they call highly expensive.
Speaker F:Exposed to AI scoring anywhere around 8 out of 10.
Speaker F:And overall, 42 US jobs scored a 7 or higher.
Speaker F:So this isn't just an economic change.
Speaker F:This is a massive economic transition.
Speaker F:Meanwhile, the least exposed jobs are what we'd assume are the ones that involve physical labor.
Speaker F:Roofers, construction workers, electricians, plumbers.
Speaker F:Jobs where you operate in the real world and have to deal with unpredictable environments.
Speaker F:Now, a lot of people are going to then look at these jobs and say, okay, physical labor jobs are the ones that are safe.
Speaker F:But I think people are underestimating the exponential curve of robotics.
Speaker F:My hot take is that robots are going to eventually start taking those jobs too.
Speaker F:But the bigger story isn't job disruption again, it's productivity.
Speaker F:One engineer with AI will be able to do the work of three to ten engineers.
Speaker F:One analyst can now produce ten reports instead of one.
Speaker F:And yes, the high exposure jobs represent about $3.7 trillion of wages.
Speaker F:Disruption will start at the top of the ladder and work its way down.
Speaker F:But I think what we're likely going to see is more like Jevons Paradox.
Speaker F:When technology makes something way more efficient, we don't use less of it, but we use more.
Speaker F:So I think we're going to actually see a massive explosion in all these fields, as well as disruption in the process.
Speaker F:So if you're looking at this chart and wondering, what should I be doing?
Speaker F:First, make sure you're mastering these AI tools.
Speaker F:Learn prompting, learn how to use cursor Claude chatgpt into your daily workflow.
Speaker F:Turn yourself into a cyborg, and then you'll be 5 to 10x more productive.
Speaker F:Second, you need to be leaning into the tools that only humans can do.
Speaker F:Empathy, negotiations, and judgment, which I think will really be the decider when AI becomes prevalent.
Speaker F:Because the real risk isn't AI replacing you, or at least it shouldn't be.
Speaker F:The real risk is someone that knows how to use AI replacing you.
Speaker F:I think the future of work isn't humans versus AI.
Speaker F:It's going to be humans with AI versus humans without.
Speaker A:So I think that's a near term understanding.
Speaker A:But that answers your question for Elon Musk.
Speaker A:Where this productivity boom comes from.
Speaker A:Right.
Speaker A:Is we're all going to be very much more productive near term, and then the fallout's what happens afterwards.
Speaker A:Yeah.
Speaker A:So, you know, I look at this and I think to myself, like, you know, nobody has the answer, but he also made.
Speaker A:I didn't, I didn't hear the robotics piece earlier, but we are very much aligned, he and I on that.
Speaker A:I think the robotics piece is going to come for those.
Speaker A:Those blue collar jobs, and I think that's going to change things a lot.
Speaker A:I think home building, for example, really ripe for disruption.
Speaker A:Why are we not using, you know, 3D printing?
Speaker B:Yeah, like, the.
Speaker B:The visual that it just.
Speaker B:I don't know what that robot was doing, but it just made me think of like, the pest control guy that comes to my house.
Speaker B:I'm not gonna lie.
Speaker B:The idea of a robot coming and spraying around my house versus a human, that might be like peeping into windows, you know, I'd be like, I don't want you looking at my house, bro.
Speaker B:Good.
Speaker B:Out here.
Speaker B:Send me the robot.
Speaker B:I would be way more comfortable with that.
Speaker B:No offense to my guy.
Speaker B:Jerry.
Speaker B:His name's Jerry.
Speaker A:You got.
Speaker A:You got a pest guy.
Speaker B:I got a pest guy.
Speaker B:See, this is how you have to.
Speaker A:This is how we know how big your house is, bro.
Speaker A:You're a whole.
Speaker A:I don't have a.
Speaker B:Yes, you do.
Speaker A:Yes, you do.
Speaker B:Yes, dude.
Speaker A:The whole.
Speaker A:I don't.
Speaker B:Your HOA has a pest guy.
Speaker A:My association does have one, because I share a common wall with my neighbor.
Speaker A:You don't even have common walls.
Speaker B:No, I do.
Speaker A:No, you don't.
Speaker B:Yeah, common retaining walls.
Speaker A:Common retaining wall.
Speaker A:Don't matter.
Speaker B:That's a wall, bro.
Speaker A:Because you got so much land, you're worried about the land falling on the other land, so it has to retain the land.
Speaker A:That's not true.
Speaker B:Draw the property line.
Speaker A:Yeah, yeah.
Speaker A:Chateau Marmont over here.
Speaker A:Are you and Brad Pitt.
Speaker A:What's the name of your studio?
Speaker B:Yeah, that's.
Speaker B:Yeah, that studio is amazing.
Speaker A:Yeah.
Speaker A:It really disappointed me afterward.
Speaker A:I'm like, I can't ever talk about our studio in public again.
Speaker A:It doesn't make any sense.
Speaker A:All right, one last article to cover.
Speaker A:This is your boy, Jeff Bezos, and.
Speaker B:I trying to come out like the good guy.
Speaker A:Yeah, this.
Speaker A:This art.
Speaker A:This interview made the rounds on pretty much everything.
Speaker A:And I. I get it.
Speaker A:I understand why it did.
Speaker A:But I will say that Amazon Executive chair Jeff Bezos on Wednesday called for zero federal income taxes in the bottom half earners.
Speaker A:Top 1% of.
Speaker A:Actually, let's just listen to it, right?
Speaker A:Jason off behind, by the way, over here, chiming in, bruh.
Speaker A:Jason, you ain't love and respect, dog.
Speaker B:Stop.
Speaker A:Yeah, but you ain't Bezos.
Speaker B:He's trying to get there, though.
Speaker A:Yeah, he's not, though.
Speaker A:He just took a photo with Adrian Grenier in.
Speaker A:In France, and I'm like, just be happy that you got models and everything.
Speaker A:Oh, right.
Speaker G:People, they are smart and they are saying, oh, my God.
Speaker G:You know, there's going to be no more radiologists because, you know, AI can read X rays better than a radiologist can.
Speaker G:And there are going to be no more software engineers because AI can program better than a software engineer can.
Speaker G:These people are wrong.
Speaker A:So first of all, how Jack does he look right now?
Speaker A:He's, like, popping out the shirt, honestly.
Speaker B:Yeah, the next size has gotten.
Speaker B:He's not even doing jiu jitsu, right?
Speaker B:Like, he ain't even, like Zuck.
Speaker A:No, he's just head bobbing in the clubs these days.
Speaker A:But number one, he's not wrong.
Speaker A:Okay, Chamath.
Speaker A:I'm sorry.
Speaker A:He is wrong.
Speaker A:Chamath just pioneered a software, by the way.
Speaker B:Is it a thing now?
Speaker B:CEOs all got necklaces that they just pimp out.
Speaker B:Like, him, Zuck.
Speaker B:Like, they're all just doing it.
Speaker A:My wife sells vintage jewelry, bro.
Speaker A:I support it.
Speaker B:No, I'm not.
Speaker B:I'm not saying I'm against it.
Speaker A:Hey, turquoise.
Speaker A:That is vintage turquoise.
Speaker B:I'm just saying, look, it's like, what that has.
Speaker B:That's strategic.
Speaker B:This just has to be.
Speaker B:Look, I'm cool, guys.
Speaker B:I'm.
Speaker B:I'm likable.
Speaker A:I mean.
Speaker B:Or do you think he just doesn't care?
Speaker A:Can we cover the show topics?
Speaker B:I'm just.
Speaker E:Come on.
Speaker B:Stop looking at it.
Speaker B:It's so, like.
Speaker A:Stop.
Speaker A:Just give yourself a minute.
Speaker A:Okay, first of all, I want him.
Speaker B:I hope it's a Jesus piece.
Speaker A:It's got a big cross in the middle of his chest.
Speaker B:No, the face.
Speaker A:The face.
Speaker A:Can I ask some questions?
Speaker D:Like this?
Speaker A:Okay.
Speaker B:Damn it.
Speaker B:We're just.
Speaker A:I got this.
Speaker A:You're making me do this.
Speaker B:This is what we do.
Speaker A:When did thigh tattoos and the tattoo between the chest, like, become, like, a big thing?
Speaker B:Yeah, that's.
Speaker B:That's.
Speaker A:I mean, why are we there?
Speaker A:You know, some people are into it.
Speaker B:I don't know.
Speaker A:And then I just feel like people get tattoos and they want to show them off so they wear just less clothes to show them off.
Speaker A:And I'm like, all right.
Speaker A:I mean, that.
Speaker A:Yeah.
Speaker B:No, just.
Speaker B:No.
Speaker B:You know, tattoos are very popular.
Speaker A:Very popular now.
Speaker B:Yeah.
Speaker A:And then.
Speaker B:What happened to just the good old, like, barbed wire around the arm?
Speaker B:I mean, just keep it, like, simple.
Speaker A:That's not that Pam Anderson style.
Speaker B:That's still cool.
Speaker B:Well, I'm not talking about females.
Speaker B:Even male men.
Speaker B:Like, Yeah, I don't know.
Speaker A:Pam Anderson kind of own.
Speaker A:You can't.
Speaker A:You can't have a tattoo that somebody else owned unequivocally.
Speaker A:Right.
Speaker A:Like, you can't have, like, the rocks tattoo.
Speaker A:No.
Speaker A:Yeah.
Speaker A:You just look like the rock walking around.
Speaker A:You try or you're trying to be.
Speaker A:Yeah, yeah.
Speaker B:Come on.
Speaker A:He hides it now.
Speaker A:He's like, damn it.
Speaker A:Right?
Speaker A:You know?
Speaker B:Yeah.
Speaker A:Just.
Speaker A:Yeah.
Speaker B:I'm not.
Speaker B:It's not for me.
Speaker A:Tribal tattoos.
Speaker A:No.
Speaker A:I'm getting a new tattoo soon.
Speaker A:What?
Speaker A:Yeah.
Speaker B:You already committed to it.
Speaker B:Is it gonna be a surprise?
Speaker A:I don't even know I'm getting you.
Speaker B:You just know that you own one.
Speaker B:That's what they say is after one, that's it, you get addicted.
Speaker A:I tried to send her a picture of what I wanted.
Speaker A:She's like, yeah, I can't do that.
Speaker A:I'm like, ah, don't worry.
Speaker A:I'll figure something out.
Speaker A:Out.
Speaker B:We'll figure something else out.
Speaker A:Like, we'll figure something out.
Speaker B:She's one of those big time artists.
Speaker B:You got to schedule, like, months or years in advance.
Speaker A:No, but I still got to schedule it, like, in advance.
Speaker A:Yeah, yeah.
Speaker A:Listen to the show.
Speaker A:So I'll be.
Speaker A:I'll not disrespect her too much.
Speaker A:Okay.
Speaker A:Last guy I went to Winterstone.
Speaker A:I knew it was bad when Chrissy Teigen was a post before me.
Speaker A:I'm like, he's gonna charge me a lot.
Speaker B:Yeah, that's.
Speaker B:There's plenty of good artists out there.
Speaker B:I mean, why this one?
Speaker A:How'd you.
Speaker B:How'd you stumble across this.
Speaker A:This girl or the previous.
Speaker B:The previous one.
Speaker B:Yeah, the previous one.
Speaker A:Winner.
Speaker A:Oh, dude, he's.
Speaker A:He has a super great fine line, like.
Speaker B:Yeah.
Speaker A:Highly detailed, like, real small tattoos.
Speaker A:Petite, if you will.
Speaker B:Yeah.
Speaker B:Dainty.
Speaker A:And then he did my.
Speaker A:My son's name.
Speaker B:I know you're.
Speaker B:That was a very good choice by you because there's nothing I can say.
Speaker A:You can't come for.
Speaker B:There's nothing I could say to come for it.
Speaker B:I so badly want to make fun.
Speaker A:Of you, but I'll get my cat's paw, you know,.
Speaker B:That'll be a good one.
Speaker A:Let me just get the easy stuff out the way.
Speaker A:Is that a friend?
Speaker A:Yeah, this is.
Speaker B:Oh, no, we're not gonna do this.
Speaker B:You're not gonna Eminem a mile me, bro.
Speaker B:You can't come out with the distance ahead of time.
Speaker A:Yeah, I'm away ahead of it.
Speaker A:I just got to see if they land so I know if I can get it or not.
Speaker B:All right.
Speaker A:Right now I'm still on the fence, but.
Speaker B:Right.
Speaker A:Anyway, so business goes on.
Speaker A:So oh, Chamath has technology where whenever you go to a surgery, you know, a doctor eyeballs to see if you have cancer there or not.
Speaker A:Like there's no way to tell in the room before they close you up.
Speaker A:So they go send it off to a lab, a lab comes, comes back and says, oh no, there's still cancer there or not.
Speaker A:Right.
Speaker A:Well, there's ways they can literally scan now in real time with technology that Chamath and some of his, you know, some of his investment companies can now do in real time.
Speaker A:Yeah, they can see stuff that doctors can't see.
Speaker A:So Bezos is wrong a little bit there about radiology and exams because I think that that AI can absolutely do that.
Speaker A:But let's just see what he has to say.
Speaker G:It's really going to happen is that it's going to elevate all of these people and they're going to.
Speaker G:It's like, it's, it's like you've been digging, let's say you're a software engineer, right?
Speaker G:What the analogy I can give you is you've been digging out a basement for your house with a shovel and somebody's about to hand you a bulldozer.
Speaker G:You should be so happy if you're digging the basement to your house and somebody says, hey, how about this?
Speaker G:I have a tool here that's going to.
Speaker G:And what, what's really going to happen is we're going to have so much productivity in our economy that for example, this is this just one effect.
Speaker G:A lot of people who have two earner income households, right.
Speaker G:One of the people is going to drop out of the workforce.
Speaker G:That's why we're going to have a labor shortage.
Speaker B:My ass, dude.
Speaker G:Because of the productivity gains, you're going to be able to afford things.
Speaker A:We're going to have problem with this.
Speaker G:Deflation of certain core.
Speaker G:Assuming we let this technology play out and don't, you know, hamstring it with regulation too early, we will actually have, you know, everything will get.
Speaker G:Food will get cheaper.
Speaker B:Okay, I got a question for you.
Speaker B:You're the perfect person to ask.
Speaker B:Of all the people that I know that use AI, I would confidently say that you probably know it better than most.
Speaker B:Okay.
Speaker B:And you've incorporated into your life.
Speaker B:Okay, how many hours would you estimate that you've put in to learn as much as you have to get to this point?
Speaker A:Oh, wow.
Speaker A:More than I care to admit.
Speaker B:No, no, honestly, because that's the point that I want to address that they're all saying like, oh, I'm handing you a bulldozer when you've been operating with a shovel.
Speaker B:Well, dude, I already work eight hours a day.
Speaker B:I have a family and my.
Speaker B:And a lot of households have three jobs.
Speaker B:Right.
Speaker B:And you now you're telling me, hey, now also spend your nights learning how to do this.
Speaker B:And it's like, yeah, I'm going to have to do that in order to survive.
Speaker B:But don't make it sound like somebody just here.
Speaker B:It's not the matrix where I just download it into my brain and now I understand it all.
Speaker A:It's not.
Speaker A:And I mean it'll get easier and more ergonomic, if you will.
Speaker A:So even from where I started just like three or four months ago to, I mean, so I, I was nerding out on the tech long before I started, right.
Speaker A:And I knew the core concepts and I knew some of the infrastructure, but even from then till now, there's newer technology in place that's made things incredibly more efficient.
Speaker A:So the challenge that I have with the agentic AI is that I'm constantly iterating, right?
Speaker A:So it's not just, hey, let's build something today, it's hey, this improvement came out, this can improve.
Speaker A:So I just, I just got one right now, earlier today, the first part of the day, I've been looking and tracking a new way for AI to interact with web browsers and to open them up natively instead of taking.
Speaker A:Because normally I would take screenshots of a web browser, interpret it and then go on.
Speaker A:So now it can natively just browse web browsers that also circumvents like website protocols to prevent bots and scanning and scraping of websites.
Speaker A:So now he can go to any website that I can go it to as a human and it's indetectable by, by the website, gray area or not.
Speaker A:It's technology that's available and it's out there.
Speaker A:So I downloaded it.
Speaker A:And now he uses that as part of a scraping function if he can't get the data from the API sources, which are faster.
Speaker A:Right, but you're constantly keeping up with that.
Speaker A:The other parts that have come out too is now Claude figured out a way to roll out its own skill which helps you roll out your own agentic AI and set up the architecture for you.
Speaker A:Yeah, and then Google's had its own variant, Perplexity has its own variant of vps, cloud based, you know, so again the complexities kind of layer on one another, but like anything else, you, you just kind of got to get into it and start Messing with it.
Speaker B:Yeah, I know.
Speaker A:And that time commitment is number one.
Speaker A:It's addictive.
Speaker A:Okay, let's just be very clear.
Speaker A:This is not hyperbole.
Speaker A:This is not me giving, like, an example of.
Speaker A:Oh, it can be.
Speaker A:No, it is addictive, but it's addictive.
Speaker B:Because you are into.
Speaker B:Into the technology of that space.
Speaker B:No, no, no, no.
Speaker A:Because that's how it starts.
Speaker A:But the addictiveness is not that.
Speaker A:The addictiveness is like when you go to Vegas, you pull the lever down and you get seven, seven, seven.
Speaker A:You get like.
Speaker A:You're like, oh, my God, I did that.
Speaker B:Yeah.
Speaker A:Once you realize that, all the things in your head can actually be created now, whether that's an image or a video or a website or a mobile app, if you sit down, that first win of going, wait a minute, I just did that.
Speaker A:When you have no basis or reason to do that.
Speaker B:But I think you're writing off a whole chunk of society that doesn't want to do that.
Speaker B:They want to work their shift and just go home and spend time with their family, and that's all they want to do.
Speaker B:Right?
Speaker B:And I think gone are those days where you can do that now.
Speaker B:Now you are forced to have to learn how to do this.
Speaker B:Otherwise you are left behind and God knows, you know where you're going to end up.
Speaker A:Well, let's not be so unilateral about it.
Speaker B:I mean, five years from now, like Elon said, in five years from now.
Speaker A:Well, in five.
Speaker A:Okay.
Speaker A:Well, my dad.
Speaker A:Great example here.
Speaker A:Still types with his two index fingers.
Speaker A:Yeah, that's how he types.
Speaker A:Yeah.
Speaker A:My dad is very old school.
Speaker A:He still struggles with email.
Speaker A:You know, he never really embraced the Internet era.
Speaker A:You know, he lives it.
Speaker A:I mean, he's plays the Internet a little bit, plays his phone a little bit.
Speaker A:I mean, he tries his best, but he's never fully embraced it.
Speaker A:He's still.
Speaker A:He's doing okay.
Speaker A:I mean, he's not, you know, terrible.
Speaker B:No, yeah, I know.
Speaker B:But my.
Speaker B:My point is.
Speaker A:Smells like onions.
Speaker B:He listens, bro.
Speaker B:I'm not saying anything.
Speaker A:He don't listen.
Speaker A:He doesn't.
Speaker A:He.
Speaker A:No, when he says that.
Speaker A:He listens.
Speaker A:The clips.
Speaker A:Yeah, he thinks the clips.
Speaker A:The show, which is technically not wrong about anyway.
Speaker A:I mean, he's.
Speaker A:He's basically following the Silicone Valley model, dude.
Speaker B:This is how, like, so my.
Speaker B:My son and all of his friends, like, they don't watch basketball games.
Speaker B:They just watch highlights.
Speaker A:Really.
Speaker B:I'm like.
Speaker B:And you know.
Speaker B:You know, my son, like, he is obsessed.
Speaker A:I would Think that he would watch the basketball.
Speaker A:So just like, podcasting.
Speaker A:The basketball games are only the platform to make clips now.
Speaker B:Yeah, they, like, they literally only want to watch the highlights.
Speaker B:I'm like, I'll tell.
Speaker B:He'll come home.
Speaker B:It's the Western and Eastern Conference finals right now.
Speaker B:Probably the best basketball you'll see all season long.
Speaker B:And, and he'll, like, turn on something on.
Speaker B:Like, like, he's, like, addicted to Matilda right now that he loves watching Matilda over and over again.
Speaker A:The TV show?
Speaker B:No, the movie.
Speaker B:Right.
Speaker B:With Danny DeVito.
Speaker A:Yeah.
Speaker A:No.
Speaker A:Great.
Speaker A:Wow.
Speaker B:Yeah, yeah, yeah.
Speaker B:Loves that movie.
Speaker B:Right?
Speaker A:Would not have seen.
Speaker A:I love that movie.
Speaker B:Yeah, I love it too.
Speaker B:I, I, I, I make the kids watch old, like, a lot of old school movies and TV shows because I'm like, I like the lessons that are being taught here, and I know what they're watching, but.
Speaker B:And he loves it, so he wants to watch it over and over.
Speaker B:And I'll say, dude, the, the spurs are playing the Thunder right now.
Speaker B:You don't want to watch this.
Speaker B:He's just like, nah, I'll watch the highlights tomorrow.
Speaker A:God, can you imagine if you could apply that principle to everything else in life?
Speaker B:Dude, I forced them to watch Wheel of Fortune the other night.
Speaker B:Like, forced them.
Speaker B:Right?
Speaker A:Like, what are you, 50?
Speaker B:Yes.
Speaker B:Force him to watch Wheel of Fortune the other night.
Speaker A:Right.
Speaker B:Ryan Seacrest taking over the show.
Speaker B:God, no.
Speaker A:Really?
Speaker B:You don't know that.
Speaker A:Is Vanna Weissel there?
Speaker B:Vanna White still there, though?
Speaker B:Yeah.
Speaker A:How old is she?
Speaker B:She looks the same.
Speaker A:Stop it.
Speaker A:I swear I'll be like, in her 60s.
Speaker A:I'm not doing that trap.
Speaker B:Pull it up.
Speaker B:Right?
Speaker B:No.
Speaker B:So anyways, forcing to watch it.
Speaker B:Commercials come on.
Speaker B:And Adam's literally looking at me like the.
Speaker B:Is this like, what?
Speaker B:I'm like, he's like, dad, change it.
Speaker F:Like, go.
Speaker B:Go to something else.
Speaker B:I'm like, no, sit and watch commercials.
Speaker B:Be patient.
Speaker A:Why haven't we gotten to the point where the commercials come up while you can still watch the content?
Speaker B:Like, like just off to the side.
Speaker A:Yeah, yeah.
Speaker A:Like, ready, player one.
Speaker B:But I mean, even YouTube does it do.
Speaker A:YouTube added the second one.
Speaker A:Now the little bottom, bottom left bar,.
Speaker B:Forcing you to watch it.
Speaker A:So you got two clip.
Speaker A:You have to watch two commercials, and then you have that bottom left little icon thing that comes up now that you got to dismiss.
Speaker A:Now I dismiss the course.
Speaker B:So brilliant.
Speaker B:Right?
Speaker B:Pay, pay or get paid by the companies to do the advertisements.
Speaker B:Get paid by the consumers to not get the advertisements.
Speaker B:Double whammy.
Speaker B:That's the best.
Speaker A:Can you imagine if your attention span like that?
Speaker A:Creeps.
Speaker A:I mean, the obvious example is, look, I just want the orgasm, okay?
Speaker A:I don't.
Speaker A:I don't want the work.
Speaker A:You know what I mean?
Speaker A:Like, I don't.
Speaker A:I don't need all those steps.
Speaker A:I just want the highlight reel.
Speaker B:Yeah, hold on.
Speaker B:What's so wrong about that?
Speaker A:I would expect you to say something like that.
Speaker A:What's wrong?
Speaker B:You wouldn't expect me to say something.
Speaker B:What's so wrong about that?
Speaker A:That's why animals do it.
Speaker B:Yeah, I. I did.
Speaker B:I did the.
Speaker B:I did something wrong the other night where I saw somebody make a really funny point about.
Speaker B:About who makes the.
Speaker B:Who actually gets credit for making the baby.
Speaker B:I said, wait a minute.
Speaker B:So.
Speaker B:And I said that and I repeated it to my wife.
Speaker A:You get no credit.
Speaker A:What are you talking about?
Speaker B:What do you mean?
Speaker A:Don't do that.
Speaker A:Don't do that.
Speaker A:Hold on.
Speaker A:I've already offended enough people.
Speaker B:Zero.
Speaker B:I get zero credit.
Speaker B:I don't get zero credit.
Speaker B:Zero credit is crazy.
Speaker B:Hold on, wait.
Speaker B:So you're telling me I put all the ingredients together to bake the cake, I put it in the oven, and the oven makes the cake?
Speaker B:I don't understand.
Speaker A:I'm going to be honest with you, dog.
Speaker A:I do not agree with this one.
Speaker A:I'm not.
Speaker B:Hold on.
Speaker B:I'm not saying I get 100% of the credit.
Speaker B:I get some credit.
Speaker A:No, you don't get any credit.
Speaker B:You want to know why the baker gets no credit?
Speaker B:I just saying.
Speaker B:Yeah, give me 5% something.
Speaker B:Let that.
Speaker B:Let that sick.
Speaker A:Okay, look, dude, if a turkey baster can replace you, bro, like, you're not.
Speaker A:You're not essential.
Speaker A:That's all I'm saying.
Speaker B:I don't know.
Speaker A:Right.
Speaker A:You're just not.
Speaker B:Is it valid?
Speaker A:Yeah, I'm just.
Speaker A:Okay.
Speaker B:Valid.
Speaker A:All right, well, before we end the show, unbeknownst to Saeed, I. I realized that I may have made an insensitive comment on previous episode.
Speaker A:Oh, you're actually.
Speaker A:Okay, yeah, I'm gonna address it where I said something to the effect of referencing gender fluidity becoming increasing.
Speaker A:And it may have come off insensitive.
Speaker A:And one of the listeners reached out and let me know that.
Speaker A:That it bothered him.
Speaker A:And I really bothered me that it bothered him per se.
Speaker A:And I took a hard look at it, and for what it's worth, I wanted to apologize.
Speaker A:I don't think that it came across well.
Speaker A:And I didn't really think.
Speaker A:I didn't think of the interpretation that.
Speaker A:That he took.
Speaker A:But I could certainly see it in retrospect.
Speaker A:So, for what it's worth, anybody may have been offended by the comment.
Speaker A:I in no way, shape, or form intended to offend anybody in.
Speaker A:In any community, for that matter.
Speaker A:And I continue to support everybody regardless of how they identify.
Speaker A:So for anybody who may have been offended by the gender fluidity comment, I do apologize.
Speaker B:No, you're a good man.
Speaker A:Yeah.
Speaker B:I was here when it came across.
Speaker B:I know you very well, and I know the people that we both have in our lives that.
Speaker B:That.
Speaker B:That are very, very close and dear to us.
Speaker B:So I knew what you meant when you said what you said.
Speaker B:And so I.
Speaker B:If it was.
Speaker B:If it would have raised a red flag for me, I would have been like, hey, we got to.
Speaker B:We got to flag something on.
Speaker B:Let's cut that out.
Speaker B:But I know I knew what you meant when you said what you said.
Speaker B:And first of all, the data speaks for itself, too.
Speaker A:Yeah, here's what I said.
Speaker A:I also made a clip of it and posted it to social media, and I listened to it again.
Speaker A:And even then, like, I knew my interpretation.
Speaker A:But again, that's part of this space and in the business that we're in, is that so much of what we say on the show can come under scrutiny and does so.
Speaker A:So I know that, that, that their interpretations and.
Speaker A:And I. I don't think that I'm above apologizing for anybody who may have taken it the wrong way.
Speaker B:Good man.
Speaker A:Good man is what it is.
Speaker B:Oh, way to leave this episode on such a somber note.
Speaker A:That was somber.
Speaker B:Apologizing like, that I could have left.
Speaker A:With the turkey baster sperm reference that you left it with.
Speaker B:That's more like it.
Speaker B:Yeah.
Speaker A:Good man.
Speaker A:I do want to get back to.
Speaker A:So for people listening before we sign off, I do want to get back to normal shows where we talk more about the economics.
Speaker A:But so much strange stuff is going on now that the tech spin has to be part of the dialogue, you know?
Speaker B:Yeah, I.
Speaker B:We've talked about on the show before where I feel like companies as a whole get hesitant to be, you know, the leader in speaking out, and they're all kind of following a status quo.
Speaker B:And then if somebody, like, says something, they all kind of weigh in here to see how it plays out in the headlines, and then if it bodes well for them, then they all kind of jump in.
Speaker B:What I kind of feel like is going on right now with everything that's going on, with all the headline risks around job losses and AI is no one is talking about the big elephant in the room, right?
Speaker B:That this is coming and this is really going to, you know, disrupt all jobs.
Speaker B:And not just, not just, we're not just talking about CEOs, right.
Speaker B:I'm talking about the Fed and the FOMC.
Speaker B:Like they've refused to talk about this and this has been an ongoing problem.
Speaker B:Right.
Speaker B:And to not address it bothers me because you're not being genuine because there's fear.
Speaker A:The unaddressed elephant in the room, to your point, is the fear that people, if I were to overlay the fear gauge, the VIX equivalent to how society feels right now, I would say between stagflation, between the confusing nature of what they're seeing in the equity stock market and this positive rhetoric, this, this resilience, if you will, versus like the bond market, the geopolitical conflict and all these things that they feel, they're, they're feeling this.
Speaker A:It's very tactile.
Speaker A:And then I post a lot of charts that are branded these days to social media and I'm seeing this data a lot.
Speaker A:Right.
Speaker A:I see, I see, you know, the, the correlation, not causation, but correlation to some very bad economic times.
Speaker A:And I think to myself, okay, well, while I'm not suggesting that we're going to be in into a depression or recession, I am suggesting that there are some really bad data points to point to right now.
Speaker A:And those dad bad data points concern me.
Speaker A:So much so that, that I think it does monopolize a lot of the value of this show and other shows like this because you look at these things and you think to yourself like I could spend a happy, happy joy, joy Equity stock marketplace like, oh, you know, Elon Musk company SpaceX has filed their IPO documents today.
Speaker A:Yeah.
Speaker A:And that's going to be a big deal.
Speaker A:And then you've got OpenAI who's in the works of presumptively in the next couple weeks doing the same thing.
Speaker A:And there's just a lot of things that are competing for attention.
Speaker A:But all of those things, the common thread is AI.
Speaker A:Yeah.
Speaker A:So I do want to spend some time on a future episode once we get into some more time to get.
Speaker A:Because just before the show the SpaceX stuff came out.
Speaker A:I want to spend some time talking about those IPOs.
Speaker B:I think that would be a great episode.
Speaker A:What I'd like to do is break down who got in where there will be some type of capital stack chart at some point in time which will tell you who's got money in the game.
Speaker A:And I want to break down what their buy in price was.
Speaker A:If I can kind of figure it out and talk about why the IPO process may not be as lucrative as people think they are.
Speaker A:Huge, massive valuations.
Speaker A:I mean, you're talking massive dollars.
Speaker A:But I think I. I think that that's a very dangerous value proposition for most people at this point in time.
Speaker B:I look forward to it.
Speaker A:Yeah.
Speaker B:All right.
Speaker B:You got anything Jill say?
Speaker A:Come on, man.
Speaker B:The whole episode again, with nothing.
Speaker B:Nothing.
Speaker A:With this, it's like he's in San Francisco or something.
Speaker A:Are you paying attention anymore?
Speaker A:Come on, man.
Speaker B:All right.
Speaker B:If you haven't done so already, leave us an honest five star review.
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Speaker B:Refer this episode out to a friend, family member, colleague, fellow investor.
Speaker B:It will do wonders for the show.
Speaker A:Apple podcast video is live.
Speaker B:Hope you enjoy.
Speaker B:It.
Speaker A:Took a lot of work.
Speaker A:Yeah.
Speaker B:Thank you, brother.
Speaker B:Thank you to you and your beats.
Speaker B:All right, good night, everybody.
Speaker A:Bye.
