The Ledger, every show

“Just letting, and almost forcing everyone to rapidly adopt versus actually making them understand how to use these tools, I think becomes so much more important, and we're definitely gonna see more instances like this.”

“Fully autonomous weapons, I don't, if that's the direction that warfare is going, I feel like that's just gonna be part of whatever China or other countries are developing anyway, so it's just gonna be kind of as awful as it may sound, it's going to kind of be…”

“So at that point, you just have so much of traditional software Can just be looked at as like a UI over a database. That's what's happening right now, and the market is finally actually coming to that realization.”

“A lot of that work, a lot of those tasks that were being created, agents are going to do. At which point you don't need, you never needed some, you don't need someone to actually enter tasks manually. And so another person could look at it and click check. Thi…”

“Now everyone is talking about memory and context, and that's going to be the moat. But right now, there is no moat. Like, from an actual user experience, just consumer-grade chat AI is all pretty good.”

“And that's why I honestly think this year, this is going to break through in a big way. The way coding assistance were the story of 20, 25.”

“Twenty-twenty-six is gonna be both the best and worst year for AI. What I mean by that is, I think we're gonna see much more widespread adoption, major breakthroughs, but also I think the kind of like financial Arrangements that have been built and kind of tha…”

“I think a billion users. I don't think I think they're not the leader. I think Gemini's Google definitely starts to catch up. I think like everyone is biting off at different parts of the open AI. Empire, I guess if we call it that, but I don't think there's a…”

“Meta is now going to be Apple's biggest competitor in the hardware space. And I never thought that that could be the possible or the case, but I really think that will be the case”

“I think the humanes of the world, the rabbits of the world were actually victims of hype and of the cycle that like a proper startup having Time to kind of like work through, get it into the hands of early adopters, have people test buggy devices, be happy abo…”

“I actually don't think the way this article called like API spend sticky. I don't think it's sticky... Switching out what you're calling like truly this is where Even as at one point, if Opus 4.5 is better at coding, cost is going to be the driver, especially …”

“What makes this so scary for ChatGPT is Google's distribution, because Claude going consumer is, like, non-existent when someone has to sign up, find about it, it's a whole marketing exercise, but If Gemini three fully replaces ChatGPT or is as good, that is r…”

“OpenAI is a consumer-facing chat company. I know Sam Altman says they're going to be a cloud company and a consumer devices company as well, and they have a small enterprise business, but they're a consumer company, and that's where all of their business is, s…”

“One of the things I kept seeing popping up was if you dig one level lower accounts receivable for Nvidia are actually significantly higher than the typical past quarters. Free cash flow is decreasing or cash conversion of their actual sales. Like all these kin…”

“Three to five years from now, if you're in that industry, it's gonna have a moment in a way that's equivalent to what we've seen so far.”

“Jensen is not shown. I mean, he he's lobbied hard to sell chips into China. So if this was really an issue and you really cared about it, you would not be doing that.”

“Tesla is no longer a car company in any way. Elon is not pretending it's a car company in any way. We should all stop looking at actual vehicle sales. That should be an afterthought. That should be like the least important part of the overall business, and peo…”

“Agentic browsing totally destroys the economics of The web.”

“Their revenue is going to be thirteen billion this year, and I think it's twenty billion they're losing this year.”

“Open AI, they're building things that just, they're not worried about efficiency. They're worried about actually, does it use more compute? Cause that's going to look great to the market. As counterintuitive as it shows, or as it may seem, it'll look good to t…”

“Sundar basically like proudly saying, a 150 Google cloud customers processed one trillion tokens and then had some kind of standard case study metrics about email open rates and stuff like creating campaign efficiency. But when you actually map out the numbers…”

“Generative AI is not traditional software, so growing your revenue at a loss doesn't, it's not like you're just gonna scale to, you know, like near 90% margins. It's gonna cost more.”

“He cites this new research that showed across 11 state-of-the-art AI models, we find that models are highly sycophantic, They affirm users actions, 50% more than humans do, and they do so even in cases where user queries mention manipulation, deception, or oth…”

“In reality, like, there's no reason that the margin profile should change over time. Like, maybe it starts to improve, but it's incremental. Maybe you get to 20, 25%. Maybe you squeeze out 30%. But in reality, like, this is a different business than the sleepy…”

“They should buy Snapchat and make Evan Spiegel CEO. I said it, and I said it. I want some product vision at the company again.”

“No one has tried to pretend that there's a clear revenue growth path to meet this. So it has to be from funding of some sort, and maybe people will keep plowing money into it, but it certainly, none of it adds up in a simple way.”

“AI certainly helping you quickly evaluate should you buy something, trying to like streamline the document process between counterparties and buying real estate. Like that should completely remove real estate brokers from the economy.”

“I don't think it's going to happen. Fourteen billion versus forty billion. And we don't actually have confirmation from Xi Jinping or from any one on the Chinese side.”

“That's what, that's exactly how I've seen this whole interface of computing for a long time, and they are, they're winning. They're winning right now, and they're moving in the right direction as well.”

“Google a year ago, or maybe a year and a half ago, did not actually let you manipulate images of people that you upload for safety purposes. And now that's out the window. You can do whatever you want.”

“If you approach long workflows completely probabilistically every single time, even if it's stuff you're repeating over and over, if you think about like customer care, agentic AI, it'll never be economical. It'll, it'll only get more and more expensive.”

“Generative AI is not traditional software economics. It's not like essentially zero marginal cost. It's not certainly not social media, but not even traditional software. It's a completely different cost structure. It's more industrial in my opinion than tradi…”

“Apparently Google is now indexing shared to chat GPT conversations and they're searchable”

“I think this, the more I'm thinking about this is going to explode in some direction this year.”

“The next great battle in AI is tool calling. That's where we're going to see the maximum amount, like actually bringing these models and agent and agentic AI. That's all that matters is the ability for an action to understand its concept context and then take …”

“If you go to the Discover tab, it posts entireties of chats from people that probably don't realize that it's being posted, and it's like, as a social network, even crazier, it posts people's voices prompting Meta AI, so it has like an audio clip, audio messag…”

“What they did, their job, again, like actually having people manually tag, like large networks of people manually tagging data to make it more ingestible for a large language model or for a training, It's not going to be as relevant anymore. You can even now h…”

“They feasibly cannot talk to every single publisher and have a conversation, have a request. Like, their business model is dependent on not having those conversations”

“So in 2023, after the initial decision, Phil Schiller had actually said that maybe we move to a model where Apple takes no commission, but apparently Apple's finance chief had come up with the idea around 27%. Tim Cook sided with the finance chief, Luca Maestr…”

“They would have been operating at a loss. The net income of four hundred nine million dollars is only because, again, they got five hundred ninety five million dollars in regulatory credit sales.”

“They're supposed to turn profitable, if we, you remember the numbers, in twenty-twenty-eight, after burning seven billion dollars in twenty-twenty-seven.”

“They're on track to make 3.7 billion dollars this year. They're forecasting to triple that next year to 12.5 billion dollars. So first thing, the valuation, and this is kind of what blows my mind, the 2.5 billion dollar syndicate of KOTU, Altimeter, Thrive, Th…”

“You're not gonna be a three hundred billion dollar company when you're open source like that.”

“So, so I think this meaningfully changes, especially any kind of job that involved opening a lot of browser tabs and copying and pasting text and synthesizing that text. That is completely changed, and there's no way to argue.”

“And I think in the coming months and years, we're going to start to see some awkward headlines around size matters because smaller will be better in terms of actual models being used.”

“I think for so many of these industries, the way the entire pricing structure changes, it's going to change. And I even think in SAS, that's going to be the case. And there's been a lot of talk around this with even Salesforce's AI agents or in many others is …”

“And the things that we've been promised around agentic AI running across various apps and taking actions and being able to use Siri in a meaningful way on par with ChatGPT audio or ChatGPT voice. None of that is coming anytime soon.”

“And last night for the attention, he made a big announcement saying that they're going to be cutting their entire sales force and work day budgets because they built in house processes that are simpler, faster, Using AI, generative AI, good old-fashioned data…”