The Ledger, every show

“No, look, I think the most vulnerable people are where there is poor loyalty to the UI.”

“None of us are giving autonomy to any form of LLMs to create any agentic task or do any work For me, we're all using them with human and humans in the loop for suggestions, and we're still sort of using the use cases where we are okay with multiple answers whe…”

“So to the extent they enable the act of social engineering, yes, those are concerning because I think most forms of two-factor authentication are going to be, you know, out of the window.”

“I seriously doubt that an AI agent will convince the CIO or C so faster than my human that goes and hangs out with him and shows him the product.”

“We never believe that you can take three or four and spit and shine and make it look like one or two, because one or two don't go away. They trade as one or two for a reason.”

“Nobody has two sales forces deployed in an enterprise. Nobody has two workdays deployed in an enterprise. Nobody has two SAPs deployed in an enterprise. Why? Because you need end to end visibility, a singular workflow, a singular set of analytics to solve the …”

“75% of product development in technology is human beings teaching consumers how to interact with back-end engineering databases and transactions.”

“So I think there's a lot of implications of AI in the technology world from a product development perspective, AI in the enterprise software world, where I think analytic products will die. It'll all be products that help you do something.”

“The differentiation is solving the unknown problem.”

“I think there's 10 times more information in private domains, which is not available in the public domain. All the drug discovery data, which is sitting in every drug company that has made any drug in the past, it's all proprietary data, right? All the intelle…”

“The wave of technology that is coming is going to allow people to build businesses faster, more agility, a lower number of people, and fundamentally rethink them. And if you're not doing that, if your rethink is marginal, if you're looking for a 10, 20% improv…”

“Every AI model that is being built with a reason, except perhaps in China, is headquartered here.”

“The logic suggests that yes, we can shave off a lot of inefficiency, a lot of increased economic value tremendously, which should justify this desire to invest in democratizing intelligence, which should justify the fact that once this democratized intelligenc…”

“Repetitive tasks are gonna get easily overtaken by AI, and that's kind of the, its contribution to society in the next two to three years, which directly targets, targets the early in career part of people's lives, and the part where they're trying to go pay t…”

“I'm sure this is going to come bite me in the future, but on the short side, services has to be a short. By definition, the whole idea of services is that we deploy humans towards repetitive tasks where we sell intelligence or process. With people. If the impe…”

“Nikesh, you're spending too much time with the mistake. He said, if you go spend that time with a company that's growing it three times, they can grow it six times. We'll make our money up six times in that company instead of you trying to fix that from half b…”

“If you come to Palo Alto, we'll take your equity away first. We'll say, I'm going to give you back one and a half times your equity if you stay with me for three years.”

“And you'll discover 90% of companies have bad data. 90% of companies.”

“I think five million apps will be redesigned in the next 10 years. They all become agents.”

“Competitor advantage lasts for about two to three years in any enterprise software business.”

“I mean, if you look at Masa, he's one of the geniuses of our times, where he's one of the very few people in the world. His risk appetite hasn't changed as he ages.”

“The hardest part was being stupid. Like, you know, I don't understand. I did not understand anything about cybersecurity.”

“I think that's kind of mainstream because the capabilities of AI models have sort of, it's fair to say, have surpassed humans in certain cases from a coding perspective.”

“You've seen that it can find cyber vulnerabilities. It can daisy chain vulnerabilities, attack infrastructure. So it's clear these models are going to be extremely powerful. They already are.”

“So this morning, actually, as part of Black Hat, we launched a capability Which allows us to deliver patches in four hours and deploy them to every one of our customers, which is huge from 55 days to four hours.”

“So I think what it, what is happening is now it's become apparent to the market that the time from discovery of vulnerability to an attack is going to compress tremendously, which means you have a lot less time To go fix it or find a bad actor in the infrastru…”

“I think in the next 10 years it's highly possible that 10 to 20% of our operating spend moves more towards technology than it already has.”

“He looked at me and says, if you put in that much effort on the company that's doubling, they might quadruple. We might make more money on the one that quadruples than you fixing the one that's broken. That's an insight. Like, that was an insight from him to m…”

“I think two years from now, that will become less apparent. I think the market will have figured out its fair shares of failures and successes, and the market will get more discerning, which is what typically happens at that point in time in the cycle. It usua…”

“I still posit 70% of the compute demand for AI is being consumed by consumers who are getting a free ride.”

“So I think we're coming to a world where in the next five years domain becomes equally important with the model intelligence.”

“I think the enterprise's ability to absorb this or digest this or perhaps leverage this to their advantage depends on their ability to create training data as fast as they can. And I think not enough people are focused on training data.”

“I think in the last eight years, we've bought north of 40 companies, and I want to say 75% have worked, 25% haven't.”

“Rumor has it, agents are going to be important. If agents are important, they're going to need identities. They need to be treated like privileged identities, so that's our thesis.”

“In technology, you miss one trick, you can survive. You miss two tricks, you're partly impaled. You miss three tricks, you could be obsolete.”

“There's a spectrum, okay? On one end of the spectrum is when you have real differentiated product, in which case the product helps build the brand. Like Google searches, now you Google something, right? On the other hand, it's a commodity. It's water. I don't …”

“On the enterprise side, false positives matter a lot. They matter because if you imagine a future where an agent's going to make independent decisions and act on it, you have zero tolerance for false positives.”

“The challenge right now is, 90% of the enterprise employees are not AI savvy. They're not. They have to learn.”

“I suspect the Frontier AI models, as a crystal ball, they will spend a lot more time in the next year or two building memory around consumption.”

“And as you start building context on a user basis, you create stickiness, and that becomes your moat.”

“We ran it against our code. We discovered it finds bad stuff much faster than humans can. We found in six weeks what would have taken us five to six years.”

“The only way to do that logically is to find a way to aggregate agent traffic somewhere. If it goes through a certain gateway, a firewall, or some router, I can watch all the traffic and I can stop an agent from acting. That's the only way it works. So I said,…”

“When I started at Palo Alto, we were less than two percent market share in the entire revenue of cybersecurity. We're closing in on eight or nine percent right now, right?”

“Sometimes what happens is you confuse effort with wanting to get the outcome. Because I spent a lot of time and effort trying to get it. Then you feel like when you get it, you better take it because you put all the effort in. And he says, you haven't spent a …”

“There's this notion, which we talked about briefly last time, that AI is really democratizing intelligence. What that means is I have 250 people in marketing that produce varied forms of output. Now I can get 90% of the output to be consistent across those 250…”

“89% of the attacks happen because credentials get stolen.”

“The entire model weights of their newest model fits on a USB stick.”

“In 10 years.”