Behind the scenes at the ALL-IN AI SUMMIT w/ POTUS, JD Vance, Jensen Huang, Lisa Su, and more… | E2156

26:20In the order from our notes, the first one is preventing woke AI in the federal government. I gave this a read, and it essentially sets rules for AI models procured by the federal government to not include or not focus on certain things. Just keep in mind, this is not saying that you can't make an AI model to your own spec. It's just that if you're selling to the federal government, these are the policies that they are going to put into place. This is the one that I was most curious about how they were going to phrase it. And just to cite the actual text a little bit here, one of the most pervasive and destructive of these ideologies is so-called diversity, equity, inclusion, DEI.

26:58In the AI context, DEI includes the suppression or distortion of factual information about race or sex, manipulation of racial or sexual representation in model outputs. And this is the part that really threw me. Incorporation of concepts like critical race theory, transgenderism, unconscious bias, intersectionality, and systemic racism. And to me, incorporation is a weird word to turn on. So I'm curious if you can elucidate what they're trying to say here. I don't know. I didn't talk to them about this. I think this is the least important part of all this. I think this is just red meat for the base.

27:34Let's call it what it is. When, you know, politicians get elected, they have a base, right? And the base helps them get the nomination. We all know the horseshoe theory, two extremes, woke lunatics on one side, MAGA lunatics on the other, socialist communists on one side, we're going to have bread lines and we're going to have, you know, whatever Mom Don He's talking about with like supermarkets. Like that's an example of feeding the base. When he goes into office, you always move to the middle, right? And the middle is like, maybe we can create more housing supply. Maybe we can make it more affordable to take the subway, right?

28:14There are things you can do that are easier to execute. So I see like whenever they do the ice raids in Los Angeles, that's performative. it's not productive. This is another example of, I think, performative as opposed to productive. I don't think any of the folks who are in, who are building these models are saying, how do I sneak in, you know, gender identity politics? And by the way, you can prompt them. so i could put a prompt into any of these large language models say my politics are x y and z you can just put all that your crazy ideology whatever you like i think that mexican food is better than japanese food it's not it's not true no it absolutely no see and here we go so that's your i can't you could put in your model that i think the seven the same five ingredients mixed 20 different ways is an incredible cuisine.

29:14And I can say, you know what? I want Toro. I want incredibly refined uni and viva la difference. So a person could tell their AI to do this. You could tell it to be woke. You could tell it to be anti-woke. So it's kind of all meaningless. So let's put that one on the side. I think it's performative. It's for the MAGA base. It's like the ice raids at Home Depot. It's performative. And it's not like the real thing, which is closing the border and not letting criminals into the country. Everybody agrees on that. What else is in there that we should discuss? Every time you turn on the news, it's about AI getting smarter and smarter.

29:56These models are writing perfect code. They're acing the world's most difficult exams. And it turns out they're also pretty good at making money. That's why there's public.com, the investing platform for people who take their money seriously. What really sets public apart are their AI-powered tools and features. Check this out. You can ask public a question about any stock in plain language and get a straightforward answer. If you want to see why a particular stock's price jumped or crashed, they've got a clickable AI-generated summary right there in the performance chart. You can build multi-asset portfolios on public stocks, bonds, options, obviously.

30:32but hey, maybe you want a little crypto in there, some ETFs. I will advise you to try public.com and access industry-leading yields like 4.1 % APY on your cash with no fees or minimums. Plus, for a limited time, earn 1 % match on all IRA deposits, IRA transfers, and 401k rollovers. Never too soon to get that retirement dialed in. So go to public.com slash twist today to fund your new account in five minutes or less. That's public.com slash twist. Disclaimer, pay for by public investing. Full disclosures in podcast description. Yeah. So the next one is, quote, accelerating federal permitting of data center infrastructure.

31:11This is kind of meat and potatoes. Three things that I think really matter, Jason. There's work inside of this to ease regulations. The quote here is that the EPA shall, quote, assist in expediting permitting on federal and non-federal lands by developing and modifying regulations promulgated under the Clean Air Act, the Comprehensive Environmental Response Compensation and Liability Act, and the Toxic Substances Control Act. Then they also want to make federal land available for construction, essentially opening up public land for data center buildouts. And then there's also, and this surprised me, the potential for subsidy from the public purse.

31:46So the text reads that the Secretary of Commerce, who you were speaking to, shall, quote, provide financial support for qualifying projects, which could include loans and loan and guarantees, grants, tax incentives, and offtake agreements. So essentially, we're going to cut the red tape. We're going to let you use federal land, and we may even subsidize it. Great. Let me think that through. Is there any, if we believe, if you believe AI is a race and America needs to win it, then using some federal land and subsidizing it is what China's already doing. So this is all us versus China, let's be honest.

32:23China is pulling out all the stops. If you want to build like next to this hydro dam, they will block, you know, the equivalent of what's the most important river in the United States, like the Colorado. They would literally in China block the Colorado River and be like, sorry, we need to win AI and put all that power into a giant data center that ran across the most important wetlands for any creature. So we're not going to do that here, but easing up the regulation is probably a good idea. Devil's in the details. And I think probably a decent amount of what's hidden in there that's important is AI data centers in the short term are going to use natural gas.

33:11There's no way around it. There's just not enough time to get solar batteries, nuclear and other sources on, and they have to be off grid. You're going to have to bring your own power. You're going to have to move your data center to where the power is. And so that seems to me to be wise. And I do think we have to win this race. I do think there'll be many winners. And so, and I don't think there should be any, by the way, I'll just say one final thing on that. I don't think you should give grants to anybody. Everything should be in the form of a loan. It should be a senior debt device. The taxpayers get paid back before anybody else plus they get warrants.

33:47So whatever amount of money you take from the government, 10 % of that amount should be given to you in warrants. So if we have a billion dollars to open AI or Google to build a data center, they should pay market rate or some percentage of market rate for the loan. It could be half market rate. It could be 1%. Who cares? The interest isn't the thing. They should give, if it was a billion dollars, they should give 20%, 200 million in options. How's this for a framework? Then if OpenAI goes from$350 billion valuation to$3 trillion, which it probably will or could, then we would 10x that$200. We would get$2 billion back plus the original billion plus some interest.

34:30That means it would be profitable for the American taxpayer. I get a little heebie-jeebie about using public funds to support these companies because I feel like putting aside all the worries about government intervention in the market and all that, I just don't want to cement the current winners as the governmentally selected long-term winners. Because if there's a company that's going to come next year and build something that blows OpenAI out of the water, I don't want OpenAI to be able to lean on the fact that the government gave them cheap land, regulatory credits, and whatever to build out their data centers and then use that to quash other competitors.

35:05Sure. And so that's where the details come in. It's a great punch up. Again, executive orders are the starting pistol. It's not even the RFP. So here we go. I think we're in alignment. Let's keep going. All right. The next one is the promoting the export of the American AI technology stack. What this does is, quote, build an American AI exports program. And this is a package of things like AI hardware, AI models that you can sell as a unit to countries around the world that we are friendly with. There is a little bit of public money here as well. The EO says that the Economic Diplomacy Action Group, didn't know we had one, quote, shall coordinate mobilization of federal financing tools in support of priority AI export packages.

35:48So essentially, if, I don't know, Ukraine wants to buy the American AI stack, we might subsidize that by offering a loan in some capacity. That's more of an import-export action. So I'm a little bit less worried about use of public funds there. But to me, this makes pretty good sense, Jason. Let's create a unit we can sell out to other countries. It's not everyone's going to have, you know, the kingdom's budget. Yeah, this all comes back to Huawei. If you look at Huawei, which is a company that builds like 5G infrastructure, infrastructure for telecom, they are a Chinese brand. They went around the world and they were really cheap and countries, you know, China, UAE, Africa, Latin America, and even in Europe, a lot of countries use Huawei's 5G.

36:37This is a significant issue because the Chinese don't have everybody's best interest at heart. And you can be sure every piece of Huawei equipment has a backdoor for the Chinese government. So if you are Germany, Italy, Spain, and you're using this stuff for your infrastructure, well, you are basically saying, please spy on us. And if you don't, then you're naive. So I think this is the equivalent that could happen with AI. We don't want to see all of Europe using Huawei chips, Huawei AI models, because then all of that power would accrue to the Chinese Communist Party, not the United States. So that's really what we're talking about here.

37:22And it starts in China. If China has an incentive to make chips that compete with NVIDIA and AMD, and we don't let them on those, and we don't let them have access to this technology, they will. So we want our platforms to win, but we don't want to give them the latest and greatest. And as Howard Lutnick said, part of this negotiation that they're doing is like, oh, well, give us your top hypersonic missiles, China. China's like, are you crazy? Like, we're not giving you our best hypersons. Oh, just sell us like 10 of them so we can deconstruct them, you know? Yeah. And every time China wants to open a business in the US, they should have to form a JV entity and only own up to 49 % of it and commit to technology trans.

38:02Oh, they don't want to do that? Exactly. So, I mean, just reciprocity is what we're looking for here. It's a no brainer. I've had this conversation a hundred times here and on all in And the tariff concepts that the Trump put out there to begin with were shock and awe. And right now, the ones that are being executed on by Lutnik and Besant and the whole crew over there are boring and mundane and effective and in America's best interest. So you're a tariff guy now. No, I'm a reciprocity. I've always been a reciprocity guy. I'm not like we should do. Oh, are you referring to China in particular or the overall package of tariffs around the world?

38:42countries that we trade with, they equal 99 % of the issue. It's a major power law here. It's a big Pareto principle. We just have to work it out with the top trade imbalance folks. And even Trump during his speech, he conceded that. He's like, I don't know if we need to do with many more of these. Like, I don't know if the 180th country, which I don't know the name of, and I've never heard of, we need to have a trade agreement with. So again, how Trump does business, just boom, explosive, crazy, everybody covers it. And then, you know, whatever, 72 hours later, it doesn't seem as crazy. And then six months later, the people who are executing it are going to execute it in a very mundane, realistic fashion, which is reciprocity.

39:26That's where we found out. So again, you may not like the style, but at the end of the day, reciprocity. No, no, I don't agree with that. You don't agree with reciprocity? No, I'm a Chicago school of economics guy. I'm a free trader. Okay. I mean, if you, so you think they should be able to put 100 % tax on cars going into Japan or China and Korea, and then we allow their cars here with no strings attached. If they want to have a less effective trade policy than free trade, sure. They're able to hurt themselves. But if you want to think about why you might want to agree with me here is that Mille down in Argentina made very compelling arguments before he was elected president discussing why protective tariffs for domestic industries lead to more poverty in your nation.

40:10So no, I'm going to stick to the current Silicon Valley favorite outside of the United States, Mille, and stay to my free trade principles. Okay, yeah, I just, if they're going to put this huge tax on cars coming in to China, Japan, and Korea, I think they should face, whatever they give us, just we'll do the same thing, you know? And that's why if you look at Japan or you've been to Korea or even China, like there's nobody buying American cars except once in a while you'll see it. I saw like three Teslas in Japan. You know, this is years ago. And it was just rich people who paid, I don't know, what was the current tariff on American cars in Japan?

40:4850 %? It's very high, yes. I think it might be 50. So just how do you ever compete? Because you've got to ship the car there too. There's like that cost and there's like the, you know, maintenance of the car. So who buys, when I was in Singapore, like who buys American cars there? Somebody was showing me their Jeep and their, and I was like, oh, you have a Jeep? And I was like, yeah, you know, it cost me like$150 ,000 to have this tricked out Jeep Wrangler. I'm like, a Jeep Wrangler is like a$50 ,000 car in the United States, tricked out 70 ,000. So there you have it. Okay, anything else in there?

41:21I think the only thing I can remember is the content and the training one, yeah. Yeah, that's exactly where I was going. This was not in one of the EOs, but it was in Trump's speech. And we don't spend a lot of time on this, Jason. and we've talked about it a lot on the show. But a couple of quotes from the Trump riff on this quote, you can't be expected to have a successful AI program when every single article, book, or anything else that you've read or studied, you're supposed to pay for. Skipping ahead a little bit. When a person reads a book or an article, you've gained knowledge. That does not mean you're violating copyright laws and have to make deals with every content provider.

41:52China doesn't do that. And I really kind of, I don't think Trump actually has a viewpoint on this. I think this is what his speechwriters have put together for him. And so this to me is one industry setting the rules for everybody here. So let's break down the statement, right? Let's break down the statement nice and slow. So first he said, when a human being reads a book, right? They're not breaking copyright if they learned from it. Okay, that's true. And China doesn't respect IP. Also true. So what's not true is what's not said in there. What AI is doing is taking somebody's book and then making it so nobody ever has to buy it again and that they can make money from it.

42:39That's what's left out of it and that they didn't have permission. And when OpenAI was stolen by DeepSea, Sam Altman was not happy. And you can be sure anybody who has their IP stolen, if you were Google and your algorithms were stolen, you might not be too happy about it and you might file a lawsuit. So we need to look at this issue and say, this is something new. So how do you solve something that's new? Very simple. You come up with a new plan and the new plan that I put out is super simple. If you want to explicitly use somebody's content, make a deal with them, and then you can have it be an exclusive deal or not.

43:19And you can very easily have somebody authenticate their New York Times subscription when you log into any of the different language models, right? They already asked you to log in with Google, and they already asked you to log in with Google so you can search your Gmail. So why can't I log in with my New York Times or my Disney Plus account, and then it says, okay, you have a Disney Plus account? Now you can make Jedis. Now you can do generative art, right? And so we all agree on the output. So that's good. I always look for where we have consensus. We all agree on the output. You don't get to make Disney characters if you're not Disney.

44:00You don't get to leverage. You don't get to take my entire book or this podcast and republish it. Okay, so then what could you do? You could talk about what we talked about on the show, but I don't think you can make a super clip of it or use the entire archive. But if somebody said, hey, this week in startups is going to get paid. They have a subscription program. It's a subscription podcast. Great. Pay for it. I pay for financial times. I pay for the economist. I would love to be able to go to the economist and have the economist say, log in with Grok, log in with ChatGPT, log in with Claude.

44:37Can you imagine if I could log in with my Claude account to those services and then use Claude against the FT and E? Then that's really actually where this will wind up. And the people who do that in a reasonable way will have an advantage against the people stealing. That means it's an opportunity. It's a business opportunity for everybody. That means the financial time and the economist Disney can invest more in content and get more out of it. And so that, yeah, and that's where we'll wind up. Another option is what, I asked to have him on, what's Cloudflare is not letting you crawl. I don't know if you saw this story.

45:15paper crawl is his new concept and uh he came out and said he's against what trump is proposing or the administration i should say we should just say the administration because this is a full effort the administration's position he disagrees with and he's going to block crawlers and he's going to have them pay and the crawl is going to be in there as well and these two ideas uh what's the guy's name prince is it matthew prince matthew prince's idea can stand alongside mine which is you could have your website. I could take the This Week in Startups website. You could take Cautious Optimism. You could put it on there.

45:50You can crawl this. It's a dollar a page. Every time you come, it's a dollar a page. That's it. And they might say, well, we're not crawling under a dollar. But if it's somebody with a$200 account, then it's worth it. $2 ,400, they could say, yeah, we'll crawl up to X amount. And now you've got a royalty system. So I call bullshit on 100 % that this is not technologically possible. It is 100 % technologically possible. And is it possible to unravel it and be China? No. So since that's also true, that you can unravel it and that you have to be China, then that means we all have to work together, not run over each other.

46:31Let's move on to how to sell your company, or Jason, as I like to put it, how not to sell your company. Okay. Do you recall the Windsurf open AI fiasco that turned into the Google buying part of Windsurf and leaving the Ash spot. We should do the one thing.

46:49Was the J.D. and I talked about immigration. I don't know what's worth covering here. Was there any piece of it that was worth covering about it? Oh, we did get into Microsoft. Let me just, I'll just tee it up. I don't know if you have that there, the Microsoft discussion. I don't have that clip. So there was a moment where I was talking to J.D. about like, hey, let's put the border aside. We all agree on that. We're never going to agree about dragging 20-year immigrants out of the country that we're letting here under Bush or Clinton. Like, I'm going to hold the line on that. They should be given a path to citizenship.

47:22Sorry. We brought them in here. We had a bunch of joking. But the one where we had like an interesting debate was, well, what about recruiting talent here? And JD made a very good point. Hey, I got wind of like this company laying off thousands of people, like 9 ,000 people. And I was like, oh, that's Microsoft. he's talking about. And then they're also filing for a bunch of high-skilled immigration visas. What's going on here? I need to look into it. So he didn't say he had it all wrapped up. Of course, Microsoft's layoffs were across a number of countries. It wasn't just America. It wasn't just high-skilled.

47:58It was salespeople, product managers. So it's not necessarily high-skilled, but he does make a great point. And it goes back to the static team size or doing more with less. If you're laying people off, do you really have the ability to then lobby for high-skilled immigration? I do think that's a valid point, even though I believe in recruiting the most high-skilled people here. What did you think of that moment? I don't know if you saw it or not. I think the important thing to keep in mind, because I've seen people make that point both online and, of course, at the AI Summit. I think these are not one-to-one replacements for the people that were laid off.

48:32These are often an H-1B being re-upped for another term. So it's not like Microsoft is out there being like, we're going to fire 9 ,000 people and bring in 9 ,000 other people that we can pay less. But I do think this conversation is becoming toxic enough for Microsoft's brand that Satya Nadella, the CEO, had to, yesterday, put out a memo entitled, Recommitting to Our Why, What, and How. In this, he discusses this exact thing. I think they're getting beat up pretty badly in the media, in political circles, for being so... What would we call it? It's shedding people as they make record amounts of money.

49:07And here's the interesting quote. You see, some Silicon Valley technology firms, especially the big firms, this is JD, say that they're desperate for workers. They can't find workers, that they have to use overseas visa programs to find workers. And yet at the same time, the college educated employment rate for STEM graduates in this country seems to be declining. Oh, wait a second. If you're not hiring American workers coming out of colleges for these jobs, then how can you say you have a massive shortage in these jobs? And by the way, you see some of these tech companies where they'll lay off 9 ,000 workers and then they'll apply for a bunch of overseas visas.

49:37It doesn't make sense to me. That displacement and that math worries me a bit. He makes a good point here. And I wonder, and I kind of know from being an insider for so long, here's the thing about H-1B visas versus American college graduates. H-1B visa are going to get paid 30, 40 % less. And because you have, they essentially become indentured servants. If they don't find a new job within 30 days of being laid off, they're kicked out of the country, with their family, it's incredibly cruel and unnecessary. They should have at least six months to find a new job. A minimum, minimum. Like, it's ridiculous.

50:17So the people I know who are abusing the H-1B visa system and other systems like this, I have heard people explicitly in my career say, we're going to get these people because we can work them harder and they don't have any recourse, you know, to call them indentured servitude or slaves, maybe a little bit hyper, it's obviously hyperbolic, but they are less empowered workers. And I would say significantly cheaper and less empowered. So JD makes a good point. I would say that there was a, there was an interesting interview on a show called All In back before the election. And one of the hosts, I forget who it was, asked the then presidential candidate, what should we do about high school immigration?

51:04And I think the thing was, I'm going to staple a green card to everyone's diploma. That is my vision. Yeah, now I know that that has not yet manifested in current policy, but I think that you're right. I think everyone that I've talked to who hires people or who has been an age will be a worker, because I have a lot of friends that have had those visas, confirms what you say. So what's the solution? Well, take away the stick that companies hold over these people's heads and give them more ability to come here and work at a fair market rate and stay. Because I think we should have every freaking smart person in the world here.

51:36And that's my policy. So I think JD here makes what I would call a classic JD point of not actually saying we shouldn't have H1B visas, not actually saying Microsoft is bad, but appearing like a populace that won't actually do anything once in office. Because he's currently the vice president, baby. Do something if you don't like this. You know, the vice president is, as we've seen, it's hard to, you're not the show, but we'll see. I think he's going to be, I think he'll be president. You have influence. You had him on, you had him out for a reason. You didn't invite a nobody on stage. Actually, he wanted to come.

52:11I think he asked to come, if I understand correctly. I think he's like, hey, you guys are in town. Can I come on and we'll talk, you know, and continue the discussion? I think, but I wasn't involved in the invite. I just, I don't like it when the problems and inequities in the H-1B visa program become a cudgel to argue that we should restrict high school immigration in general to this nation. Yeah. Because I think we should not. But again, my personal politics, yours, everyone listening may be different. Yeah. I mean, probably 80 % or 90 % of the country agree on immigration. We just don't talk about it in buckets.

52:48If you said we're going to bring 25 ,000 high-skilled people here a year who start companies, and if they don't start a company and create 10 jobs, then within two years, they lose their visa, their golden visa, and it had that condition on it, you'd be like, okay, sounds reasonable. And if I said, hey, we should close the border so coyotes are not, you know, sending bad guys and charging people$10 ,000 and, you know, all this horrible stuff that happens, you'd probably say, okay, and that'd be 90 % of the country. and if I said, hey, you want to deport the like felons from the country who are here illegally, but yes, I agree.

53:20So there you go. Like it's like 80, 90 % agreement on 99 % of the issue. And the only disagreement is on what to do with people who have been here for over five or ten years and have made a life here. And that's probably 50-50. So from our friends over on the startups subreddit, which I read each and every single day, this This is a question from a person who has worked at a couple of early stage companies, and they want to know, is it possible that adding AI to your startup too early actually slows you down? And they write that having worked at a couple of companies that rushed to add an AI feature either to attract investment or just to stay current with trends, but it actually slowed them down.

54:02So product decisions became more slow, MVPs became bloated. And I think that this question boils down to, Jason, when should you add something hot in buzzword terms to your startup to ensure that you maintain your place in the conversation and at the investor tables, but also avoid wasting your time and shoehorning in crap you don't need. A couple of different pieces here that are important. One of them is, should I frame my company as an AI company? Should I market it? Should I pitch it as an AI company? Well, absolutely, because VCs are looking at the market and they're saying, you know, these are the companies that are growing the fastest.

54:39Now, if it's just AI dressing, if you're AI greenwashing, then, and there's no substance to it, well, you won't actually get the gains. Therefore, why are you doing it? It doesn't make any sense. So you should authentically be thinking about that. And if you have a previous company that was a SaaS-based company and you were pitching it as such, reframing it, and in fact, figuring out how AI would disrupt you and going there, not a bad idea. Let me give an example. Let's say you had a sales automation tool, Salesforce, HubSpot, something that does marketing and sales in a company. Well, you go and try to raise money for that concept.

55:22People are going to go, well, that exists already, and it's going to get disrupted by AI. And they say, well, how is it going to get disrupted by AI? And you say, well, I'm an investor. It's your job. You're the founder. Tell me. So they have 10 people coming to them saying, we're going to do to Salesforce and HubSpot what they did to legacy client server enterprise software before that. We're going to make a better version of that than the per seat model. Here's how it works. So you should absolutely be thinking about that. Take your legacy product making$5 or$10 million a year. Let it cook. You don't have to change it.

55:56But then you launch the AI interface, the version, et cetera, in parallel, and you start marketing that immediately. Which, by the way, is all Benioff's doing. All Benioff does is go on TV and talk about agents and how a third of the work at Salesforce is being done by agents. There is some truth that AI is not ready to do certain job functions. We saw that with, I think it was Klarna that said they were getting rid of all their customer support going 100 % AI. and six or 700 people were losing their jobs. And it was incredible. And then they said, oh, you know what? We need to have some humans in the loop here.

56:29So you can jump the gun on it. And that's your responsibility as a founder is to actually assess if the technology is ready. I looked at a lot of these AI solutions to make versions of podcasts in different languages. Not ready. To translate essentially to us, to Swahili or German. Not ready. You could do it as a proof of concept. I don't think it's ready yet. I don't think the people listening to us in Japanese as done auto dubbed is ready yet. Now it might be ready later this year, but it wasn't ready last year when I took the pitches. I don't know where it is now. That's such an interesting idea.

57:05I love that. Who doesn't love it? Like we should have a, we should have a this week in startups in the top 10 languages and they should automatically, and you can be sure YouTube, I know they are working on it. YouTube already dubs, if you go and type in Mr. Beast in Spanish, you can find the dubbed version of Mr. Beast officially done by YouTube. People don't know this, but YouTube is doing that for Mr. Beast. I don't have any inside information here. I just have what some YouTubers were telling me. So maybe I do have inside information. What? Some YouTubers were telling me that they were not using AI for this.

57:42They were using voice actors. Now, I don't know if that's true or not, but let's play it and see if you found it. Did you find it? Yeah, so this is Mr. Beast in Espanol. How did you find it, by the way? Is it on the YouTube Espanol site, or is it in the dropdown menu and you just changed the language? So I literally just said Mr. Beast in Spanish, and this was the first thing that came up, and it's completely translated. So the description's in Spanish. This is, I lived underground for 50 hours, and listen to - So hit play, yeah, yeah. Yeah, yeah, yeah.

58:24So this is not just a translation. I don't think Jason, this does feel more like voice acting to me. It's voice acting. So they got, that's how big of a franchise Mr. Beast has, is that YouTube is apparently paying for this experiment. And I guess for YouTube, it's super important for their growth in those countries. Therefore, and type Mr. Beast in Japanese, Mr. Beast in French. I wonder if that even exists if they're up to Japanese and French, because those would be culturally very different markets and much smaller markets, sub 100 million or way under 100 million, because it would be the subset of people in those countries is 100 million people in Japan and France might be 70 million French speakers.

59:02I don't see anything similar for French or Japanese. I think it's just because Spanish is such an enormous language. Yeah. So I don't know if it's public or not, but there you have it, folks. So to this person's back to this great question, you could look at the solution from first principles, test it with customers, and then just decide. You can just decide if the market is ready for that feature. I do think there's another point he alludes to here, which is distraction. As this AI comes in, it is so distracting because an intelligent person can look at what's happening and very easily extrapolate that it will work.

59:43The way I got to podcasting early, the way I got to blogging early, the way I got to zines early, and the way I got to angel investing early and syndicates early in my career is that when presented with a new idea, and this is my big unlock or hack for people, sometimes I just say yes to an opportunity and I assume it's going to work. Now, I said yes to friend feed. I spent a lot of time on friend feed by Paul... Brett Taylor. No, Paul Boucher. like bouquet, like bouhite, bouhite. Thank you. Like Fahrenheit. Paul Bouhite, who created Gmail, worked out Y Combinator. He created FriendFeed. He sold it to Facebook.

1:00:24It was like Ajax. The page would automatically be updating as you would be posting to it. I spent like a ton of time on that for a year. I did a ton of time on Google+. As those things grew, they fizzled out. They didn't work. Google Buzz, I spent a lot of time on that. Google Buzz could have beat Facebook if they weren't so concerned about the privacy issues and they were a little more freewheeling Google, but they folded because they got too many privacy issues and Zuckerberg didn't care about privacy. The people at Google rightfully were like, oh yeah, this is crazy. There's all these fringe problems with Google Buzz.

1:00:58And so you just have to think these things through. But if you assume something's going to work, you could hit, but most times you won't. AI presents the ability for you to believe anything is possible. We're sitting here talking about these robots. Like, are those robots going to go pick up your lunch and bring it back to your house right now? If you said, I want a nice coffee, that robot you were showing earlier, the$5 ,000 one, is that going to go get it and successfully do that? No. Not this year, but... But you immediately assume next year it would, but it might be five years from now. So the timing for entrepreneurs is so critical.

1:01:33Is it one year? Is it five? Can your company survive for five years? Oh, by the way, But scholarships are open. A lot of people have been asking me to come to the All-In Summit. As is tradition, I set up the scholarship program in the early years, and the team agreed to keep doing it. You can go to the website and apply for one. If you're one of my founders and you know me, I might have a little juice and be able to help a friend or two get their scholarships approved. It's probably a one in ten chance that your scholarship gets approved because there's a limited number of those tickets. But if you are one of my peeps and you did apply for one and you can't afford the full price ticket, I might be able to help.

1:02:10So if you're one of my founders, go ahead and apply for a scholarship and let me know you did. What is the scholarship? Is it like 80 %? I think it's like 80 % off. I think it might be$1 ,500 instead of$7 ,500. So the event loses money on the scholarships because I think, yeah. I'm not surprised, but it's profitable overall. You and I know the events game, and this is probably an overall good event for the business. All In Summit has been profitable since year one, and it's significantly profitable. And then All In plus the tequila, plus the other events you see us doing. We don't have advertising on it, but it's a significant business.

1:02:49And This Week in Startups, and I'm going to probably do two more podcasts on the This Week in Startups brand in the next year. So stay tuned for that, folks. he's cautiously optimistic cautiousoptimism.substack.com .news .news, oh you have your own domain name and you're still on Substack, not Beehive I'm on Substack for a little bit but I'm working on some cool stuff behind the scenes so that might change in the next couple months what, I mean you're thinking of your own platform or being part of something let me sign some contracts first oh okay, awesome excited for you, there you go, sign up it's a hundred bucks a year, you commit a little support Let's get him a hundred.

1:03:28Or it's free if you want to just not pay. I think you should make it not free. I think you should just make it only pay because you've got good insights and it's better to have a thousand people paying a hundred bucks than to have 10 ,000 people paying nothing and you know, whatever. Stay tuned. Stay tuned. We're moving that direction. We'll see you next time. Bye bye. X.com slash Alex. X.com slash Jason. X.com slash TWI startups. Bye bye.