AI demos: Bard's YouTube summarizer, Stability's image editing tools, and more with Sunny Madra | E1853

0:00okay so here we go so here's pong okay and uh you can see here oh my god yeah yeah exactly this is deranged it literally wrote the code and made the game pong from a drawing yeah and then you can create a link god this is insane do you know how long it took nolan bushnell in 1973 to build the first pong i just looked it up there's a wire story it took three months for them to build pong you did it in three minutes yeah well yeah wow it's pretty it's pretty wild this week in startups is brought to you by Squarespace. Turn your idea into a new website. Go to squarespace.com slash twist for a free trial.

0:43When you're ready to launch, use offer code twist to save 10 % off your first purchase of a website or domain. Vanta. Compliance and security shouldn't be a deal breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. Twist listeners can get$1 ,000 off for a limited time at vanta.com slash twist and northwest registered agent when starting your business it's important to use a service that will actually help you northwest registered agent is that service they'll form your company fast give you the documents you need to open a business bank account and even provide you with mail scanning and a business address to keep your personal privacy intact.

1:33Visit northwestregisteredagent.com slash twist to get a 60 % discount on your next LLC. All right, everybody, welcome back to this week in startups. It's Madra Mondays. Yes, every Monday, my good friend Sandeep Madra comes on the program. He's from Definitive Intelligence. And yeah, he's one of my besties. And we like to do demos of AI projects. So it's just AI Mondays here on this week in startups every Monday, make sure you see the show. Because, hey, we got our finger on the pulse of what's happening. I see a lot of stuff coming in to my inbox, DMS, people now know that if you did something interesting in AI in the past week, that you just CC at Sandeep and at Jason first name club on Twitter x, and you let us know what you're building or slide into either of our DMS or both and send us a link and then maybe we'll talk about it on the show.

2:27Let's get right to it all right i noticed that bard remember we talked about hey they got to catch up and they got to hold people's feet to the fire yeah and i tweeted last week that bard and youtube are uh now connected in some way so let's look at this this is really interesting i've said this from the beginning yeah i think youtube reddit quora and twitter slash x are some of the greatest yeah you know pools of data right they are and so what we're gonna do here in um bard now and i have some pre-done in case we don't want to wait but like we are going to ask bard uh can you provide a summary of the last this week in startups uh episode okay this is a very specific search being done at bard.google.com yes and we'll see oh look and it shows a spinning wheel that it went on youtube and here we go wow yeah now and then which which is great it gave me a quick summary but i can say what were the key points made by jason oh well that's even more detailed so just to summarize what it showed us in the last uh screen it gave us let's let's look at the first response if we can okay from we kind of glossed over it i want to give him credit yeah yeah um so what we see here is it says the most recent episode of this week in startups is titled open ai chaos continues it was published on november 21st 2023 i don't know if that's actually the latest episode is it um here is a summary of the episode five bullet points sam was fired from open ai the open ai board is considering spinning out a new company to focus on generative ai yada yada yada um i hope the summary is helpful and here's a link 1852 okay 1852 and that's the one when david joined us okay great yes that was the latest was november 21st yeah so it's right look at that perfect great job okay and then we did a follow-up jason's position yeah yeah and it picked up on something you said which was very good i thought and i remember this from the episode um he said recent turmoil is unprecedented i just said that but and this one was i remember this very clearly he said the open ai board made several mistakes including not giving sam altman clear incentives and not having a clear succession plan in place sure i did say that i don't know if i mentioned succession but i definitely mentioned the incentives so i wonder if it's hallucinating about the succession or maybe uh sacks brought that in he said the fallout from open ai situation could be significant for startups that rely on open as models i might have said that cal canis also said that he believes open ai is still a valuable company and that he is hopeful it can recover from the crisis overall cal canis's key points without open ai situation is unprecedented that open ai board makes several mistakes and that the fallout from i says okay i think it's pretty good actually um and this would save you a lot of time one of the things we do here like as an example i'm having kevin o 'connor the founder of double click on the program what i asked my team to do was to give me some bullet points from the last time he was on the show now i'm going to listen to the episode but i like to have the bullet points there for me usually a producer sunday would listen to the episode write the bullet points i listen to it on 2x speed so this would take him an hour right maybe two you know if they're doing other things so you know that's going to cost me whatever if you know if you uh you know call it a hundred dollars in producer time or whatever it is you know if an average producer is 50k all in fully baked with their vacation and everything you know or if a producer you know general or a researcher generally in the world might cost if you're gonna hire a freelance researcher i think to do this work what would it be 40 bucks an hour i think 40 bucks an hour you could hire a researcher yeah you need someone you can't just get the cheapest person right no no you can't do somebody offshore because they may not understand the context of all this so you know a us-based or north american-based person who understands tech would be 40 bucks an hour to do this and this does it basically for free so if you're a researcher and that's your gig in the world there's two things that are possible here you could just go do this and claim you could go use bard claim you did the work and charge 40 bucks for five minutes of work or uh you can then take this work and then do more meaningful work which is take this and then come up with follow-up questions for the person right and so this is my general theme i'm working on a blog post um i am so inspired by our discussions here cindy that i'm going to break some news here i have a new blog post coming i'm going back i have a calicanis.substack.com i'm going back to blogging and writing okay okay just for clarity of thought and is it ai enhanced it is not um but they're going to be short and brief and i may you know i like to have my voice but i do use grammarly uh which is an ai machine learning to you know make things clearer and i set it to make things very clear so you know shout out to our friends at grammarly i love that product great i have a new framework i call it it's a new management framework you know my old one of like the sod and the eod start of day end of day for managing real people i just ask everybody on the team for five minutes most people do it if they don't do it i generally fire them for some period of time i don't keep asking them i just cut them loose um yeah but i ask everybody to do a start of week end of week that should take 15 minutes at the start of the week 15 minutes at the end of week and then your sodeod should take start of day end of day should take but five minutes just three or four bullet points of what you're going to do today end of the day some people go crazy they want to get credit for all their work they're ambitious they want to show the team that they're really crushing it and i totally respect that if If it was a young J.

8:15Cal, I would do that. Young Sandeep would do that too, right? You want credit for work done. What this does is it creates the ability for you as a young person in the company or a new person to see what everybody's doing and then say, wait a second, that person's more senior than me. I need to be doing some of their stuff, right? Yeah. Or now I know. And then if senior people don't do it, I had two people who were like managing directors who refused to do it and they're no longer with me. I'm just not going to push people to do it. I just want people to do it because it holds you accountable. and then i realized from our discussions here my add framework people tell me i have add adhd i don't know maybe but we didn't diagnose it when i was a kid you get diagnosed with that back then no no that's well beyond us yeah that was like a 90s phenomenon right i mean it's a millennial thing yeah so anyway yeah automate delegate deprecate i'm now telling people and i'm going to put this out on my sub stack i love it and i'm going to post the whole thing for the modern era for the modern era you look at your end of week so i took somebody who's going uh i'm going to be on leave and i just looked at their eow for the last four weeks and i said of the items that they got done each week what could be automated with gpts with ai what could be delegated to a remote worker so i am getting obsessed with remote workers in manila portugal south america yeah it's a thousand dollars a month basically for a remote college educated magic english a bunch of services magic does it athena does it there's a bunch of very cool services that i've been testing and then you can also just go on fiverr or other websites and find the upwork really great websites you find the folks they cost literally five six dollars an hour three or four dollars an hour is a great salary if you charge five six seven dollars an hour so i'm pairing my people with uh admins from offshore so every three people will have one admin i think so that's about twelve thousand dollars to thirty six thousand dollars depending on which service you use okay twelve to thirty six now if you put three people's salary together all in it'd be like three hundred thousand if you put a twenty five thousand dollars rounded up to thirty like a really high-end offshore person that's ten percent more but how much could they delegate to that person i wonder so that's the experiment i'm running and then deprecate is you know when you ask somebody to do something like two years ago and they're still doing it but you didn't know they were doing it and you're like oh my god stop doing that it's a waste of time we don't need that anymore yeah and so i'm just asking everybody to have add yeah automate i mean delegate deprecate and if you do that i think everybody in the company can become 50 more efficient which is to say they can automate maybe 10 20 of what they do they can delegate maybe 20 30 of what they do and they can deprecate 10 or 20 of what they do put it all together half the work comes off your plate what does that do it means you don't have to hire another person or that person can do higher level things so i just want to encourage people as you see this incredible youtube experiment if you were a producer of a podcast where you did summaries of podcasts or other you know new stuff start with bard now that it works check the facts pull up the transcript summarize the transcript take the entire transcript put the transcript in claude put the transcript in bard put it into chat gpt and look at all three simultaneously and then say to yourself what could you do beyond this so anyway this is just my you know new framework uh based on what we are figuring out here every monday i think it's a framework for the ai era we should that's what it's really because you know the automate delegate and deprecate is very much aligned to the ai era yes because before automating would require someone to you know maybe write code and getting resources across the world was harder all these things are being enhanced by ai and i can guarantee jason that most people on those offshore services are going to be better at using ai than they Yeah, they already are.

12:18I've been talking to the people who are running some of these services. Okay, they are using AI already. Yeah, they are using script. They've been using scripting forever. So as an example, we have an SDR that we're going to test a sales development rep. Yeah, the sales development rep. One of the things they did was they built scripts. What are these scripts do? They go on to professional networking sites like LinkedIn, crunch base, pitch book, whatever it is. And there are tons of these different sites out there. And then they look for targets for the salespeople. And they've just automated qualifying them and then even queuing up an email to them or queuing up finding their email and then queuing up an email to them or an email, etc.

13:03So imagine you're a sales executive. You're selling SaaS software. this sdr could go into your linkedin your crunch base put into your drafts folder 20 emails for you to look at with those folks follow them automatically on linkedin for you maybe like a couple of posts this is called social selling well that's all going to start to be done by i think ai in some ways or offshore and that combination is going to be wicked and then if you watch the person working so we we've had people on the pod who are building software to watch the desktop, right? And Microsoft's watching the desktop with their new co pilot, right?

13:40If they're watching the desktop, and they see an SDR, or somebody who's, let's say, booking meetings, and they watch them do it enough times, the AI just watching your desktop and watching what's happening in your browser or in a headless browser, it's going to figure out what to do and then just go do it for you. If your landing page looks terrible, I'm out. We all know that you see an ugly website, you skedaddle, you leave, you're done. So you need to stop selling for okay or good and start using Squarespace so you can be excellent and extraordinary. It's an out of the box business solution to build beautiful websites, engage your audience and sell anything you want.

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14:54one of the open ai engineers yesterday wrote like a little gmail uh thing using open ai to go through all the black friday emails because obviously you know it's been crazy the last day or two right or three four days i did a little shopping online i'll be honest yeah yeah but i'm saying do any did you do any black friday deals no not really i mean it's like i just had one i had like a brand i really like um this brand roan r-h-o-n-e oh yeah yeah i like roan and i like athleisure yeah but it's athleisure but they got into sweaters and some polos and nice stuff so i like cuts i like roan um okay you know i like mac weld in some of them and i just saw the roan go by and i had bought some stuff i really liked like they have this nice collared shirt that i like yeah i just bought two more they were 30 or 40 percent off they have a store in hudson yards by the way oh they do is it there yeah isn't that interesting how all those direct to consumer brands were supposed to get rid of stores and then they were like you know what would be cool if people could go into a store and try this but i guess they just look at it as marketing right i think if they break even on the store but they got people to know the brand and they know they're going to go order online it's kind of brilliant yeah yeah well next time you're there check it out i give this um i'm going to tell you right now i gotta show you one more thing we we kind of got well i had an added question can you do the comments can you ask it to does it have insight into comments uh let's do that but i want to show up what i so i i had made a prediction on the monday pod that everything would get back to normal and it got this is a heavy hallucination first of all it thinks i'm the ceo of the madrona venture group which i am not and it's a little is it saying you're part of is madrone venture group like an indian group is this like uh isn't madrona the what is madrona these are the seattle guys that like uh aren't i wonder if there's i was just wondering if it was like being a little racist and it's like oh well you're india and you must be part of the madrona venture group yeah who knows who knows and then my prediction was that everything will return back to normal in that episode and so it didn't get that right so going back to you know our previous conversation okay i think it's cool that it's it's making some things available but then it is it is why is it getting it wrong it's got the transcript i know google has the actual transcript should not get this wrong chat gpt would not have gotten this wrong i don't think okay okay uh uh what are okay uh just what are the most popular most yeah popular comments yeah on that video on this episode okay so great yeah yeah let's see if it gets this yeah i spelled episode wrong too but doesn't matter i should know yeah it should figure that out so let's see so it's searching youtube it's giving like a spinning wheel that it's searching youtube see this is the thing if the structured data can be organized here are some of the most popular comments i can't believe the board fired sam he is a visionary i'm hopeful that the emt sheer will be able to bring some stability uh amateur i guess the whole situation is a mess i wonder if these are actually really the comments yeah the drama doesn't know okay well i at least it thinks it's getting the comments so that's pretty good yeah i'll have the producers go check if those comments were there ask it how many likes did the episode get or how many views does the episode have yeah how many views does this episode have i think the satchel's on so that makes it pretty popular let's see 80 000 views okay yeah and i think i had it here yeah it says 80k here okay great so so that's pretty interesting can you ask it another question here i want to ask bard with this integration with youtube somebody can clip this and send it to uh uh the team over there ask it what are the top five most popular videos on youtube this month now this this is like a meta question right it needs to understand that youtube is a website with videos and that there's a popular list somewhere and let's see if it can actually uh oh okay a mr beast being the one stokes twins yeah mark robert does gets a lot of views this is yeah the good range they range from 2.2 to 23 million okay i think this could be a game changer folks we could have a game changer how about we do this who is the most popular chef on youtube let's see this is like something that you actually might get value from is actually trying to figure out you know instead of typing chefs uh okay yeah it's giving you 6 million subs.

19:25I mean, this one has 21 million subs, but yeah, yeah, it's really okay. And it's giving a little picture. Jamie Oliver has 5.8 million subs. So it's not ranking them by subs, but it's giving you a pretty good overview here. Let's ask what's the most popular French omelet recipe video on YouTube. This is interesting. See like this. If should just maybe they should just replace the YouTube search button. Like YouTube search doesn't do this. the most popular french video tube is how to make perfect a by jack pipen that is actually the one i've uh i've watched wow that is correct it is a great video you ever have a french omelet you know the difference between a country omelet and a french uh i know the french is like this slow stirring right it's like the it's a test for chefs isn't it like it is the test for chefs if you want to test a chef you have make a french omelet it's very simple you put the omelet in the pan with butter but you don't brown it on the outside it is like a nice glossed color you can put chives inside of it if you like that's what you see here with the green one um and then you have to keep taking it off the heat so it doesn't burn and then you roll it into a little cylinder and it looks like a managot or like a cannoli or something it's rolled when you cut it open it's moist on the inside firm on the outside but not burnt a brown butter country omelet is when you mix it and it's almost like scrambled and it's hard that you get in a typical diner yeah and it's really brown on the outside breakfast buffet yeah it's kind of gnarly um so the reason i know this is because i love a french omelet and uh i i uh we have a housekeeper uh uh and i taught the housekeeper how to make french omelet uh just by sharing that video and i was just curious if they actually could go dig that deep i'm gonna go ahead and give this an a um i don't know what it was last time but this is like i gave it like five or six things that i wanted it gave me back a semblance of what i want um and this is 10 times better than youtube search so for me it's either like b plus a minus or a but compared to previous versions i don't know what we gave it in previous versions or we're giving letter grades on previous episodes this is really showing what youtube is going to be able this is the first time i feel like maybe there's a j trade coming in for for youtube shares well private data and good experience like i'm at a minus only because it hallucinated pretty heavy in this one of the summarizations but i think it it it answered everything it pulled up videos we gave you tested it in quite a few different ways and it did a great job and i think you know for me um what's interesting is there's all these tools that we've been using to summarize videos and now you know just do it in bard you don't have to pay for another tool you can do it right here and i think as long as they can start to prove the accuracy i like the comment search too that's a good one because sometimes i can help you figure out like maybe what you should listen for look for in it um and the only thing i would say if i could ask for a feature if they're doing this now maybe it can even create a summary for you yes if it's like one of these long lex friedman ones or you know i mean i think it will do that if uh and it will start to do that automatically or automatically does already like I think timestamps pretty easy let's ask you one more question I want to ask you a question that would be deep inside a video and this is going to be a little bit of a deep pull here but everybody knows I love the bandier straights have any of the members of dire straights talked about doing a reunion tour in a youtube video please jump to that timestamp or please give me that timestamp if so please give me a link to that okay so how about that that's what you really want to do yeah sure you want the link to it i mean i would like to go to you okay yes mark knoffler has talked about doing a reunion tour in a youtube video the 19th year in rolling stone he said he would be open to the idea of a reunion of the band but that would be a lot of work to put together he also said he would only want to do it if the original members of the band were on board we're going to talk about possibly a reunion tour in other interviews with mojo he said he would never say never but i didn't think it was very likely to happen i don't think this is true i don't think this is true because mark knoffler just said he would only do it for charity the guardian nervous said he was more open to the idea of doing an ensure that hadn't been passed and taking to others members about it so see i don't think this is actually true he said it's just like that era is over former diastrates let me see that but it's okay you probably linked to it right former diastrates we'd love to read him but mark knoffler is busy that's the truth diastrates leaves our shit's more uh for the record by mark knoffler die straight's mark knoffer is in spanish city these are all great videos i've seen of mark talking about it but the truth is he has said they're not going to do a reunion tour so this is pure hallucination um and again wrong information this gives you the idea that it was going to happen and it is not so it's definitely hallucinating it's giving you general information about other bands probably talking about a reunion yeah well here it was very specific right he has talked about it and he said he's open to doing it but it'd be a lot of work so yeah so that's not true and by the way um producer john was looking in the for the comments that it said it was going to have and those were hallucinations couldn't find those comments there really so it's making that up so i'm going to a b plus right now i'm dropping my score i went from a real time from an a to a to a b plus i like the fact that it knows what it's doing but the hallucinations are far too wrong here to make this value but actually i'm going to a b i'm giving it a b yeah well since the comments were fake and then the dire straits thing yeah i think definitely goes down to a b because you know that can give you i mean imagine you're supposed to watch something you know for uh like a you know something important and you go get one of these summaries and it's just told you a bunch of things that weren't true so that's that's pretty unreliable you gotta be careful careful out there kids yeah be careful out there do not trust any language models right now trust but verify is the rule they hallucinate they're still hallucinating we're just too trusting of technology i think isn't that what this says the fact that we get so excited and then when we check the facts we get so disappointed is that we actually believe in this technology a little too much well i think it stems from the fact that we trust technology jason right we trust calculators we trust uh you know spell checkers we trust uh grammarly right and we trust google search and i think the challenge with the technology and a lot of people are working on this right now is to eliminate the hallucinations because that's going to take away from the trust that we have of technology and so these hallucinations are happening what if you were to explain it to a neophyte because because these models are inherently probabilistic and what they don't you know you don't have a model that has every single thing that is on the internet otherwise the model would be like too gigantic in size to run so what it has to do it has to you know effectively compress down the internet um in you know by a process of training and when that's happening it loses information and so when it's trying to recreate things it tends to make things up where where these models are starting to drift is they've been further, I guess, reinforcement learned to always give humans answers.

26:42So one of the things that they've learned is humans don't like it when it says, I don't know. And that was the beauty of Google search. It never said, I don't know. It would just kind of give you a list of links and you would look at whether those are good or not. And so, yeah. And so that's the reason is that you can't take the entire internet and put it into a model that, you know, the hardware underneath, it's not able to do that yet today. And so everything Everything is compressed and in compression, there's loss. There you go, folks. Listen, selling software is hard enough right now, man.

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28:15We spent a lot of time on that one, but for good reason, because YouTube is like, I think YouTube is the best data pool out there. Uh, overall, I think Twitter is good for real time, but YouTube has all these deep interviews and I think that's going to be, that's why they want, of course, by the way, that's why they're making a big push for podcasts. a big push for pockets and this is why spotify could have something really interesting at some point yeah or anybody podcasts are freely available to index when you think about it now i think you probably need permission if you're going to build a well they're all on rss feeds so you could just look for rss feeds with attachments and just start indexing but i don't think you have the rights to do that now will a podcaster care will i care for this week in startups to be in somebody's model i have to think about it um i if i if i got credit and links back i'd feel pretty good about it because i would get traffic back so this is like a google model so we got to figure that out we got to figure that out yeah okay all right this one was making big rounds last week and you know we had it queued up but we did the um podcast on the open ai stuff so this one i find really fascinating um it's called tldraw and what i did here because i didn't want to do it real time i kind of queued it up i i drew this i saw someone else do it so i you know um thought this was a good example so i made up a game it's a famous game jay cal's first video game pong yeah and this is very monumental right to think about what's going to happen here because this was one of the first video games ever created for um atari i believe and so what i said is like this here's a paddle it's controlled by the q and z keys here's this is just a line drawing you made on your computer no no no like i drew it in this app down here you drew it in this app you made a square yeah i mean you made two rectangles for the paddles you made a ball yeah i get it and then i and i told it the rules and i said the you know the scores here and then all i have to do is i'm going to take this i'm going to highlight the all these things that i did and i'm going to hit this button that says make real and this is going to spin for about yes this is going to spin for about maybe 30 seconds.

30:24And, you know, think about the work that went into building the first Pong and what we're going to have here. And what this is going to do is, you know, we've talked about like low code and no code environments. This is the evolution of that. Okay, so here we go. So here's Pong. Okay. And you can see here. Oh my God. Yeah, yeah, exactly. This is deranged. It literally wrote the code and made the game Pong from a drawing. yeah and then you can create a link god this is insane do you know how long it took nolan bushnell in 1973 to build the first pong i just looked it up there's a wire story it took three months for them to build pong you did it in three minutes yeah well yeah wow it's pretty it's pretty wild um that is mind-blowing yeah this one for some reason is missing one of the lines but when i did this earlier i had both paddles like maybe i gotta run it again or something but i mean that's unbelievable yeah yeah and i'm you can see here i'm controlling the you know and it's keeping score as well right so you know wild huh i mean when we start thinking about this all you have to do is you know extrapolate from here because that's how technology works so pong was one of the original games then you get breakout then you get defender you get asteroids yeah you know and then you could say you know to the game make a more interesting version or make a version that works in vr or make a version that works with apple's headset and uses some ip from disney you know you're going to be able to just talk to this yeah so you do a drawing a sketch it makes a makes a computer program and then you just talk to it back and forth and i was in the car this weekend driving uh you know to to lake tahoe with my 13 year old and i i i set up my there's an action button do you know that iphone 15 has an action button yep exactly i program my action button what do you think i program my action button to do chat gpt you got it so when i double click my or when i hold my shortcut it opens up the chat gpt um voice mode voice mode so now i'm driving not looking at it got it in the phone stand in the cradle and um i asked it about the conflict between you know i asked it about hamassi organization she had questions about that i asked it about the middle east conflict i asked it about the solutions and it just talked to us while we were driving and then i asked it about the cure because she wanted to know about boys don't cry and their greatest hits and then she said what genre is the cure and i said well i think it's new wave and then i asked it and it was like yeah they were post-punk and then as they evolved they became new wave so i was right but i i didn't think they were post-punk so much but then that kind of made sense to me yeah they gave a pretty great answer and i was just thinking this is like having a tutor not just for my daughter but for me too yep because i'm guessing okay what genre is the cure you know like i kind of think it's rock and roll kind of new wavy yeah kind of punk i didn't think of but yeah now that i think about it yeah it was a little bit post-punk wasn't it and so anyway you think about what we would do listening to there was used to be a radio show on sunday nights i forgot the name of it um vince gelsna did it in new york and it was vince gelsna did this show every sunday night where he just explained rock and roll to you and people would record it and tape it and i was just like wow this is like vince gelsna's show uh on uh k-rock yeah we've lost the art of that even like mtv back in our era like you know they would go through kind of and do that we've just lost that now right it's all about you know kind of advertising these days but um no those experiences idiots delight was the name of the show idiots delight was the name delight oh yeah okay then scalesa scalesas s-c-e-l-s-a-s idiot delight a really interesting show and so what what i take from what you just talked about there jason is i don't know if you've seen Sal Khan's talk, the Two Sigma talk that he did at TED, which basically talks about if you give anyone a tutor, they can improve their test scores by two standard deviations, right?

34:44It's a great TED talk. It's from this year. And he talks about the impact of like chat GPT and LLMs for that. And so, you know, think about the amount of knowledge these things have, the cost which is definitely pretty minimal uh and making that available to everyone on the planet like that's a huge lift for our entire society right a lot of challenges we see come from lack of education and so we're on the you know front end of this curve but um i love i love that use case i'm going to try it out yeah it's just a great thing when you're in the car um i think also it could play games with you remember alexa had some games it could play of course so i think it's going to play some games too you can make up the games right we could just say hey we want to play rock and roll trivia can you give us some rock and roll trivia i bet you we do a pretty good job at that um so i just think it's like lyrics yeah well this concept of a personal tutor i think is going to be very powerful in fact that i was thinking about doing like 20 years ago um a little bit of um uh fiction writing and never got around to it but my first story that i wrote it wasn't like a black mirror story but it was a little black mirror-esque that somebody had put implants of headphones in their ears and that they had a personal assistant that would talk to them constantly and it would read to them stock prices and it was about some internet version of the pin well oh yeah exactly but it was an implant actually and it was a dot-com person yeah and i had written about the dot-com era but like 30 years later yeah and they went insane because the stock market went 24 7 which was a prediction i had that the stock market 24 7 and he became obsessed with the stock price and trying to change it and manipulate it and the stock price was being read to him every 30 seconds and then he would be doing things in between he went mad yeah yeah because i just had interviewed somebody as a journalist about you know this flow of information and then somebody was pitching a 24-hour stock market in the dot-com era it never happened and people figured out this is a really bad idea well with neural link we're not too far away well and that's the interesting part you know 20 years 23 years later when i wrote that little short story i wish i could find my laptop with it um you know now i think this ai and the tv then movie her kind of gives you a path to that you got to be very careful with this because you could just be in constant dopamine hit mode constant learning mode and i have a little bit of that now i don't know if you have this addiction to podcasts but i have a probably 100 podcasts i listen to and i go to sleep listening to them and sometimes i stay up for two hours listening to podcasts it's very dangerous yeah yeah back on the pod yeah yeah Yeah, for that.

37:17And definitely watch the talk, J.K. The Two Sigma Talk. Yeah, I'm going to watch it. I remember when that went. It's another example of like, there's just too many things. I'm going to dump that into, actually, how long is the talk? It's only, I'll probably listen to it. What if we should go back to Bard and ask for the summary? Yeah, well, you know, interestingly, the way I do this, literally this morning, I was talking with my producers and I was asking producer Nick, how do we do this? The way we do it right now is we take a YouTube video. there are kind of websites out there that let you take a youtube video and save it as an mp3 file they're kind of like russian websites or whatever you can and there's one called ss youtube.com so if you're on a youtube video if you put an ss in front of the word youtube so you just go into your url in your browser it'll take you to a website i'll show you what it looks like oh looks like it got discontinued in the united states um anyway what this video saved from the net did was it will let you save an mp3 file this is like a cat and mouse game um and then you can take that mp3 file you can upload it to descript or another service it makes a transcript they take the transcript you upload it to claude and make a summary so what we're showing here from youtube is maybe you don't have to do that two or three step process but google's bard is not a high functioning llm yet is that what we've come to that claude falcon and chat gpt and grok are better oh man um i think chat gpt is in a league of its own okay still and i think palm is improving all the time i you know i'd love you know hopefully maybe some folks get back in touch with us and explain why we saw such wild hallucinations and if there's a way for us to understand let's get the bar people back on uh producers we had somebody from bard on back in the day so let's do that again yeah here is the ted talk you just summarized it let's take a look you had we had jack came on from the bar team is this actually good here yeah i'm just kind of reading it because i pulled it up uh but in general this seems pretty accurate to what he says basically it's like ai has the potential to provide personalized instruction students at a global scale what we're talking about yep uh and it's been unattainable because of cost and scalability issues um and then he talks about like the impact of of tutoring this is um yeah it's a good it's a good high level summary i don't think it made up anything here yeah so uh okay congratulations barb b plus uh on this one making pong that's an a plus okay all right making pongs an a plus that's what's the name of this that one is called uh The service is called TLDraw.

39:55I'm just going to pull it back up. TLDraw. TLDraw. Yeah, so TLDraw.com, and that's it. Now, something related - Who makes it as a startup or something? Yeah. Wow. Just incredible. Starting a business used to be such a painful process. You needed to get a lawyer. There were tons of fees. It was a mess, but not anymore. Just check out Northwest Registered Agent. They're going to help you form your company fast. Remember, speed matters. And then they're going to get you the docs you need to open a business bank account instantly. Then they're going to provide you with mail scanning and a business address.

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41:14I want to show this gentleman, Jordan Singer. He did a similar one. And so all of these are powered by the GPTV API. So, you know, the vision that we've played around with a little bit. And I think you've even tried it. You gave some, I think you were doing some food things as great, J-Cal. And so this person created basically an iPhone app, which you can go and download if you go to his tweet. He has a GitHub link to it. And I'm just going to play the video. And in the video, what he does is, and I'll just explain it for those listening. He's basically drawing like a number keyboard. So one, two, three, four, five, six, and then putting plus minus equals.

41:53And then he gives it a name here. And what you're going to see is he's going to say create. And this is on the phone itself. And watch this. And so this is like app creation. And look, I built a business making apps. I remember. Yeah. yeah and yeah this is it'll be done here in a second and so it's spinning and there you go and he's got a working calculator from a sketch so he literally drew a calculator one two three four five six seven eight nine zero plus minus etc and then basically told it to compile it and it did it yeah yes and a working iphone app a work well this looks like a browser app to me but i guess no it's not no no no because if you go he gives you this is like a swift app it's not it's not Oh, yeah.

42:40So this is a Swift app building Swift apps? What is he in? Is he in an IDE or something? What's this? No, no, no. His app is the app that builds apps. It's very better. Oh, my God. So it's an app. You draw on it, and it makes an app inside of the app. Correct. That is bonkers. Well, you know, this is what I love because, you know, for the past couple of years, we've been doing this founder university concept. And one of the things we did is we had Bubble and some other no-code platforms. platforms and we have zapier and notion coda a bunch of these ways type form survey monkey etc you can kind of stitch together a frankincite now that's a little bit of a derogatory term but you can stitch together a no-code prototype and what's happened is we've gone from no-code prototypes then to actually production products with webflow or bubble and now we're going to actually native apps with ai what this does is it gives a group of non-developer but product manager designer types the ability to actually make a prototype and throw it out there and let somebody play with it right and we we saw this like you could build angry birds now um and you know if you if you play a video of angry birds to an llm could it make the code you think well and you know what this ushers in i think it could like pong you know this is just it's happening really quickly and you know remember we were giving predictions like it's happening even faster than i would have thought i think we're going to enter an era where we're going to have a lot of apps instead of that you'll just create on the fly for what you need and i think people are going to start an example give an example well like and i'm going to do another demo in a second so i'm going to lead up to this but like in the case of you want to do like a meme editor right and so you'll kind of just be like instead of searching in the app store for the best one you'll be like hey can you quickly give me an app where i can pull up memes and then you know edit them and then post them and so instead of looking through the 50 or 100 meme editors there are you'll just get one created for you on the fly for the thing that you're trying to do interesting yeah so if you and i we're going to go skiing we use something called slopes really cool apps where we track our runs you could say make me a slopes app now that has gps that's a little more sophisticated but we could actually say hey we want an app to just track ourselves while we're mountain biking around lake tahoe make me an app share it with my friend and it'll be our own personal you know between us summer app for or summer activity app yeah we're gonna be skiing and like make us like a communicator for each other or something just like a wild yeah it's wild yeah well yeah think about this hey we've got a group of 10 besties yeah make us an app that shares our location uh and what stores we're going to and just creates a running list and then deletes it after 10 days so people can see what stores we were going to whatever you know like or we're a bunch of parents you know put us in a group and we can talk about our kids but we want to track our kids and see where they're going and you know they're going to have a play this weekend it's going to be very bespoke i think we're going to love that i love that that's just kind of like how people use google sheets when you think of it like you pop up a spreadsheet what do you use it for people use spreadsheets for like planning a party their schedule you know voting on trips and you just use it for anything budgeting recipes people will use you know little uh google sheets for anything and i think that's what's going to happen here yeah you're going to talk to your ai make some sort of app and just use it amongst friends and toss it in the garbage just like you might toss a google sheet in the garbage if you're not using it anymore all right so i give that an a plus by the way that was mind-blowing yeah that was mind-blowing yeah like an app with it now i think one of the crazy things is apple won't approve that because they don't like but you know i think it's a really really interesting era we're going to see i give both of those an a plus they're two different companies yeah they are well one's not even a company one's just someone who created it like a developer it's not even available so i'm just gonna give one of those available no no no they have a github that you can go and use it and download it yourself it's for developers got it okay yeah all right okay next one which is also really interesting this one gives you like the ui it doesn't implement it but it gives you a really nice looking ui so down here in the text box what you can see here there's a like an iphone and i said design a restaurant reservation page a number of guest date and special request and i'm going to hit that and basically um yeah we knew this was coming we talked about this last year and it just starts writing the code for this app yeah it's just bonkers i mean and then i guess is that what is the fidelity of the code have you looked at that Yeah.

47:35Totally usable. Totally usable. Totally usable. Yeah. Wow. And it's just loading up here, so I'm just doing it live. Okay, so you can see that. It's installing and launching the app. There you go. Make a reservation. And there it is. Make a reservation. And think about, we used to use, I forgot the name of it, the app to just mock up. We used Figma. You could use Envision. Yeah. You could use Balsamic. Balsamic. Balsamic. Balsamic was like the old school one. Look what's happened. Like you don't, and this is, you can download this. Yeah. Right. And there it is. Right. I've just pulled up the code for those folks listening.

48:14That's nuts. Yeah. So let me ask you a question. As somebody who ran a dev shop and you built lots of apps for large social networks, dating apps, famously did Tinder when you had your dev shop in Canada. What's the future here? Well, I think it's superpowers. You know, so I'm talking to a couple of people who are reimagining that business right now. You can, you know, they came and wanted to speak and the business about reimagined. What used to take months will take days. What used to take different sets of resources can be collapsed into these tools. And I think we're the same type of innovation we saw when the app store came out.

48:54We're going to see like another kind of step function and innovation right now. Okay. So the app store. Yeah. made the world um into software buyers whereas previously the average person bought you know like one software package a year maybe you know putting video games aside you know people didn't buy apps all that didn't they would go to comp usa back in the day and buy some software you know off of a package you might buy a browser you might download something off the internet freeware shareware but you got microsoft office and you're kind of done and then you did cloud computing you might buy two or three sas products maybe if you were a junkie you had 10 sas products but call it five for the average you know executive maybe you bought but then the app store came out and people had collections of dozens of apps on their phone probably the average phone has 50 apps on it i would think over you know you've had it for some number easily yeah yeah so now you think a step function it could be 500 it could be 10 times the number of apps available 100 times the number of apps available well i i think what you're gonna get is a combination of these two things that we just saw is like what you need in that moment created for you so mind-blowing right yeah so like you know i think it's a challenge to like an open table now obviously they have a back-end integration which is quite important but um you know think about the experience about booking restaurants and like having people pick and so you could quickly just create something send it around everyone picks a date and then you know that feature is really hard for you know the company to build people just put that together maybe it connects to the open table back end and gets a restaurant book so it sends it out everyone picks their date it finds the common date you know like those tip splitting things for more complicated use cases coordinating it's like calendly or whatever you know find us the date that works or you're the restaurant itself and you say you know what i want to have my own booking app i want to give that presence i want to give that precedent over places that charge.

50:51So make me for you know, my favorite restaurant in Tahoe, beep, I want to get more people fighting for reservations there, they can make their own app for beep beep. And then they could say, you know, hey, we want to have these three tables are the VIP tables, don't include them. These three tables are include are for tasting. And if you want them, you have to do the tasting menu, and then the rest are first come first serve and build me a database of all of my uh best customers and this is your product spec what you just said that's all would be all that would be required for the product specification it's just so mind-blowing because you think like there are some restaurants that probably create their own apps like alina we had the the famous uh co-founder of it chef and everything they have a huge wait list i think they were the restaurant that in season two of the chef episode i think it was seven or eight the one where he goes and works and polishes somewhere it was based on that restaurant you know they actually built their own software for buying because they had so many reservations they built their own software platform they wound up selling it to square i think um okay to um book their restaurant their and i think actually even bid on reservations but you had to you had to buy them like sports tickets basically was his big innovation was okay you know like when you buy tickets to the warriors dorsia is it is it dorsi no dorsi is kind of inspired a little bit by that but what dorsi is doing which um you know if i was younger i would be using it all the time but i don't really go out to eat as much as i used to um they will let you bid on like really prime tables in prime markets and you just you agree to 500 i've seen 500 a person in dorsia yeah like a pre-committed spend pre-committed spend yeah yeah yeah and so it's not an auction it's just you're pre-committing your spend and when you go to the restaurant my understanding with dorsey is it like it shows you in the app in real time as you order you're like oh i'm gonna get this two bottles of wine yeah bottle of champagne this bottle of wine and that's 600 bucks and we you and i went on a date it was a thousand dollar pre-commit now it's like you don't even have to pay a bill at the end you just walk out so yeah but you and then whatever you have left i don't know if you can just give that as a tip i think it ends up as that yeah no i think the restaurant takes it necessarily you don't get it back i know you don't get it back what i'm saying is like if i spent 600 and 400 left could i put that 400 towards the staff i'm gonna look into that i'm gonna i've used it a few times i haven't thought about that you have used it see that i would be fine with it because i'm a big tipper anyway yeah so if i really wanted to go to a restaurant i was only in that city for that weekend i kind of appreciate that so when you get nice wine it's a no-brainer because you go past that anyways right yes i don't i'm not a big drinker so like i'll have a social glass of like an ounce of one but not really my jam all right i've got any more demos here let's get one more demo we got a couple more but i want to jump forward to one here okay so runway uh just launched this thing called runway tv and basically it's an ai generated channel so everything in here i have a little guide and basically this entire service is ai generated okay so they've made a cable system with cable channels that are all ai generated okay that's they just replaced the entire corpus of cable television well no live sports but okay sure any anything else that's scripted uh and they have like give an example here yeah yeah so let's go here gen 48 film of the week creative partner programs i want to be careful here because i haven't pre-tested these but all right here we go sci-fi just another cat okay so you've clicked on that from the channel guide yeah we hit play on it so it's like a channel guide now just it comes up with yeah what looks like a 1970 tv show of like uh looks like a detective or something in a 1970s car yeah and uh so now it's just like full episodes of these things and it just made tv shows they're shorts right this is just visuals shorts yeah no no but then no they have a whole storyline i'm the audio is coming in maybe i gotta reshare it it's okay don't worry about it we won't play because we don't want to get dinged with anything but so anyway it just basically plays a short so it's just random ai shorts that were created that's nuts yeah but they often do a genre that's the sci-fi genre right and so um it's it's really nuts that's wild and and and look like we're again we're in the early innings like what does this mean for you know and you know we obviously seen layoffs at espn and other places but man for content and we just saw the writer strike end yeah this was pretty wild to have already this early on have like a you know a whole network like a cable network yeah and i'm i'm doubtful that any of this is actually really that interesting or refined because it's not like doesn't have the human touch yet yeah but give it time maybe some of these will actually be worth watching um now imagine your stories wattpad plus this right you take really great stories and combine human written stories on wattpad and then move them over here yeah because you know actually 50 shades of gray my understanding was i met the woman who wrote that at a party years ago and somebody told me that the 50 shades of gray was originally twilight fan fiction and they she changed the names of it to make like new characters but it was kind of uh i guess in this uh romance they would add a lot more romance to a you know fill in the blanks here to you know something that didn't have as much romance in it um and so that's kind of interesting i'm thinking about this and i'm i'm just wondering about like some ip licensing and some big ip brands would be very interesting to me is to take mike tyson and have mike tyson fight floyd mayweather and this is i think we talked about this back in the day but imagine if you took all of the floyd mayweather fights in history you took all of the mike tyson fights in history and then you said what was their peak okay mike tyson versus this person was the peak floyd mayweather versus this was a peak okay now give me those two fighters put them in the ring all these debates and now the debates are over let's play floyd mayweather versus mike tyson i think mike tyson is gonna yeah 70 chance of absolutely just destroying him but i don't know because floyd's defensive strategy might have tuckered him out and then floyd's a heavyweight and heavyweights can't fight lightweights like that so okay so then what you say is move mike tyson down to same mike tyson strategy move him down to middleweight take floyd move him up to middleweight show me uh uh yeah so just change their body types but keep their style yeah wow yeah that is incredible because now you could have people go across it they could say hey let's actually have michael jordan play lebron in a game of one-on-one and let's see what that's like yeah um which i guess is what the nba video games do to a lesser extent with machine learning they try to approximate that there's what is the nba game that everybody plays the video game where you make your own teams and you play oh like like 2k nba 2k 2k 2k yeah i wonder how much ai or machine learning 2k is doing when they play you know teams i understand you can play like you know and you can yeah and they're career modes and you can play yeah the the legendary bulls versus legendary lakers and or whatever you want or nba live i guess yeah so that's a big thing the ratings are provided by humans because there's a guy that everyone kind of you know kisses up to uh i think it's ronnie 2k that's his name and he's the guy that ultimately is in charge of the ratings and so a lot of players go to him when um your rating is off so it's and they wait for ratings get updated and all that so it's it's a whole kind of uh sub ecosystem yeah i'm gonna give that a c plus right now okay it's like an interesting proof of concept i'll give it a c i'm not even giving it a plus interesting proof of concept it doesn't look real doesn't pass the uncanny valley you know i think it's going to need a lot more work but i think it shows some promise and it's interesting tied into story making so i'm kind of in the same place as you like you know c c plus but but look kudos to them and now you can see why they have such a huge evaluation because they could become like the next network um okay this next one i've actually been using quite a bit so stability ai um these are the guys behind a bunch of these really good models that we see for um generative uh image like generation but they have created a whole bunch of new tools and so they've got tools here that can take an image and uncrop it for you i love this you can basically uh like start a doodle you can clean up an image you can remove a background so i'm not going to go through all these you can upscale an image this has been really what's the url for this it's just clip drop.co okay and who is this by this is by stability stability yeah so this is like things that you would pay yes photoshop graphic designer to do for you you give them a picture of yourself and say i want this to you know uh have me take the background of my house out my backyard and put me on a beach or just take the background out and you know put a color behind it replace the background so i'll do one here like just and i i was uh you know this is a classic uh guy here and uh so you know you know this that's the weird looking guy with a mug who's got like the grin yeah and he's like a force grin and so i just did that yeah put him on a stock image i forgot what they call that guy but he's got like he's got the white beard and like the bald head wearing the blue shirt and he's kind of doing work there's a name for this meme but the guy looks like he's constipated or something well he's always buying like the thing late like oh i just bought you know he's like old dude laggard he's like i'm gonna call him like uh white beard laggard so now what you're doing here is but were you also making memes move around on the internet this weekend that's a different one i can show you that too if you want to see that I thought that was the most interesting demo.

1:01:09So this one I'm going to give a B plus to this collection is incredible. Yeah, it's incredible. Yeah. And honestly, like I I'm using it all the time for whether I'm creating decks or something like that. And it's, and there's a lot of tools in here. So I recommend everyone to go through it, like removing backgrounds, re-imagining pictures, uncropping something, uh, upscaling is, this is a real pain in the butt. Like upscaling pictures has always been, by the way, the name of that guy, hide the pain Harold, just for people oh yeah yeah all right and uh okay so then so that was stability so this is a model from stability but they they haven't made it available on their site yet and so um i'm running this on replicate so replicate is a place where you can take models and they'll run them for you uh and basically you know they've got farms of uh gpus available so in this case uh instead of the memes because i i did animate some memes but something more important is i took this very famous picture uh raising of the flag at iwo jima yeah yeah and basically uh you know you run it and uh we can did you tell it what to do did you tell it to raise the flag no no no it that's the you do tell it nothing and so you give it nothing you give it an image it has a few things that you can modify here and uh basically uh these are you can how long you want it to be how many frames per second motion bucket these are some very this is again this is we're running it live on the gpus ourselves right and basically you click run and this may not go super fast because it depends if we have access to yeah it goes with started um and so this is this is actually what happens when you know ai runs in the background so you can see this doing the work on the the the um the gpus here directly yeah what is this costing you to do is costing you 10 cents to do this or we can go look at that yeah so once this is done or maybe i'll just open this maybe in a new tab or something so you can kind of i don't know if it's doing them yes it just goes like second by seconds so they take about 60 seconds right and the pricing for that model which is nvidia n40 large is you know uh basically yeah what is that two bucks an hour so it's like you know i don't know what one one hundredth of you know a cent or something two bucks an hour yeah yeah so that's nothing uh yeah it's like three cents a minute yeah yeah exactly so that's what it takes and uh you know, this thing will run here.

1:03:42I don't know if this one will come out as good as the one I just shared. Cause sometimes you have to tweak some of the settings. Got it. And it's amazing. The idea that you could take a meme. So we just did that live. That's this one. The flag is waving a bit different than the one I had posted. Yeah. Yeah. Crazy. Absolutely nuts. Yeah. I mean, and this is, again, we're still in, we just hit year one. So if we just consider this year one, this is nuts. and what we're seeing here is entire industries to recap for the episode. We started with what a researcher does for 40 bucks an hour. And we showed that that can be done at a 90 % 80 to 90 % of the work will be done by is already being done by AI.

1:04:26Then we showed making a basic video game or a calculator for a developer. And again, I think 80 90 % of the works done, you probably have to massage the last 20%. then we showed video and images and in the case of the static images we saw maybe 70 of what a an image processing person who gets paid 20 30 bucks offshore could do right cleaning a background or whatever and maybe 40 or 50 bucks here in the u.s so and then we did video with that network show and that would be yeah you know i don't know that's a lot of creatives doing a lot of different things but it's not ready for prime time so it's probably doing 10 of what needs to be 20 yeah we could check 10 of millions of 10 of millions of dollars yes yeah and so the question is when can it do a pixar movie so i'm going to put that out there when could it make something and let's even go with a short when could it make the short at the beginning of a pixar movie you know that the shorts at the beginning of the pixar movie summer 2024 i'll put it out there we'll see a full movie pixar quality created by ai wait wait you're saying in six months you're saying august 1st 2024 i'm taking me over it it might not be in the theaters because of the the you're saying indistinguishable from the movie or ratatouille are we talking about just the fidelity of the video or the storytelling the animation the voiceover all that everything okay so we're going complete hold on i'm gonna let you reset the bet here yeah i'm gonna reset the bet here because it's gonna be a real bet yeah i want to set it properly indistinguishable from ratatouille my favorite film i see ratatouille and i see this new one and i cannot tell the difference i watch five minutes of it or we show somebody five minutes of ratatouille versus five minutes of this the best five minutes and the consumer it passes the uncanny valley they believe this is the next pixar film they believe it's the next pixar film yes will be the bet uh i think that's three years from now because you got to do storytelling too um and i got to do voice over voice voices can be copied as we know right we've seen that through the ai tools and it's going to go on like youtube because i'm going to say 2026 i'm going to go 2026 oh my god january 1st 2026 i would set the line at so i'm taking the over i'm taking the over it's easy win for me yeah and if you're the person making it go ahead and prove it to us make us a film make us ratatouille part two you said the short the short that goes you know before though okay you make a ratatouille short so it's son of ratatouille daughter of ratatouille ratatouille makes shake shack you know ratatouille does a cooking show whatever your jam is the ai has to come up with the story the images the voiceover the whole package 10 minutes short of ratatouille and it's better or it's indistinguishable from any other short that was done by pixar at this beginning of something okay there we go we got it we got it you say okay and if uh if you do that and you make it you can come on the show did we give um we gave our letter grades to everything producers didn't give a no what did we give a letter to this clip what we didn't give them for the meme for the meme one not the meme one i'm giving uh uh b plus b plus okay yeah yeah because it's listen is it perfect yet no it looks like it's a ai generated but i'll give it a b plus because i think next year it will not look it'll look like that was actually a video clip taken from uh from that scene yeah from that scene like they just discovered the video like it would i think next year at this time you show it you do the same exercise that would look like oh it's the lost footage and you just said that's what happens with one of the memes i posted jcal and someone said well this is already a video and i'm like yeah that's the point i had animated some memes and that was a point that it does such a good job that um you know people couldn't and this one had a little bit of wonkiness but wonkiness in it but uh people can't figure out that that's happened let me see if i can pull this up here this is one of the more i think this is the most famous meme of 2020 this uh you know yes the two women screaming and it's a cat ignoring them it's like some reality show folks yeah yeah and they're actually now screaming people say well that's the actual video and it's not yeah it's not it was you can see from the woman's finger is like her hand is super weird and her and her face here is a little bit weird but you know yeah we're i almost believe it that's what i'm saying this thing is in beta still amazing okay so i give it b plus i give it the mean generated people would you give it i give it uh yeah just needs to be go to production so b plus but it's you know i with a caveat that we know it's still in beta oh here we go yeah that guy's called hide the pain harold hide the pain harold he just leans forward and like spills his drink or something on his keyboard it's like very weird he feels the pain because of you know what's happened so his life is horrible he's just a slave to his lost all his money buying the wrong crypto he literally bought the wrong crypto and on his windows like 98 laptop top yeah from like hp but he's but he's happy but he's sad because his retirement savings gone and now he's going to have to go work at tgi fridays and put flare on his things at the age of 70 maybe a welcome welcome her at walmart welcome her at walmart i mean literally isn't it amazing you were deep in the crypto game and now you're deep in the ai game and more happens in a week in ai than happened in 10 years of crypto yeah i think it's safe to say a month maybe my my retrospective of it is false so one like i i'm a still big believer in the underlying technology that's why we spent time, you know, building there and being in the space.

1:10:26But when you can allow people to financialize things, which inherently crypto was because you could start trading them right away without there being value, that was the problem, right? And so it was a combination of like, there was really great ideas and there still are great ideas being built every single day. But when you can financialize it, meaning people can trade on it before it's gotten traction. So imagine all these things that we've been demoing, you could go and buy it right away. like there was a token associated with it yeah that's that that would be chaos in ai the good news is like ai and crypto are not intersected in that way so you can't go off one of these demos i like the idea of a more fluid funding environment for projects but there has to be some constraint and so it would be very easy to just say i fell in love with crypto for that reason and when i saw the abuse i fell out of love there's a very simple constraint here any adult in the united states can spend one thousand dollars as an investment in a project ten times a year so there's an exception every american can blow ten thousand dollars a year one thousand dollars at a time per deal we just call it the angel investment exception act angel exception act and oh by the way if you want to do it um and you want to go above that and you want to go to 100 ,000 a year, and 10 bets of 10k, you have to take a course, and you have to get a certification like a driver's license, gun license, barber's license, whatever, somewhere in that range of you have to do five hours of coursework and answer a 50 question test.

1:12:04Just so you know what diversity is. And you know, you know, that 90 % of startups return$0, yada, yada, yada, that would be actually great for society, because you'd have people be able to transition from lower class to middle class to upper class it would give upward mobility because you have equity upside and you'd have some protection because you could only invest so much you can't take your life savings and just blow it like you can on sports betting yeah that would be a fair i think way to do this now there's some people you know you can't believe that you can just do whatever you want and you can't understand that too you can't trade the thing like you can buy into it but like in the similar way if you invest in a startup you can't go and like secondary markets do get created but they get created much later people don't start going and trading on the angel investment you just did right one the investors really don't allow for it i would be okay with trading it if it still had those rules so you could trade it to another party but they can only do 10 deals per year so it's throttled got in other words like i bought into you know um the the pong app for a thousand bucks i could sell it anytime i want but if i sell it that's one of my 10 transactions for the year so i get 10 transactions per year or i could sell up to 10 i could buy up to 10 something like that where you have some throttling of the velocity of this because like you said when it's unlimited velocity it just becomes chaos well speculation and chaos yeah that which is unfortunately what took over human nature well i mean that and i i respect people who are libertarians and say it's my money i should be able to take any risk i want with it i actually respect that and we do have that in the united states when it comes to gambling now other places where there's gambling like my understanding in korea when i played poker at walker hill casino in seoul it there was all non-koreans and i was like why are there no koreans here and this whole koreans aren't allowed to gamble in seoul they weren't allowed to gamble there yeah there's a ban and koreans then what was one of the most popular places for crypto korea because humans want to gamble and they actually remember they tried to ban it in korea and then they relented because people wanted it so badly and so human nature to want to gamble we just have to have some thoughtfulness around it yeah all right there's been another amazing episode follow at sandeep on twitter x x.com slash sandeep x.com slash jason the site formerly known as twitter see you all next time bye