The Ledger, every show

“We actually believe that this is going to be the next paradigm of rendering. So it's going to replace how rasterizers, it's going to replace DLSS today because it not only has these pixel prior that's learned from the world, such that you can literally play an…”

“In the next decade, I believe that there's going to be as many humanoid robots as there's going to be dogs and cats on this planet.”

“I personally don't think that machine learning or AI in 50 years is still going to be built on this stack.”

“So many folks sub-anthropic are going to get their arses burned because they'll end up in the dead zone. They'll have great companies without great IPOs and zero M and A opportunities.”

“I would bet anything. I would bet anything. No trial of BPC would work.”

“I think America is racing towards a 10% unemployment rate, maybe 20.”

“This is my big worry for 20, 27 is it happens. It's going to be true in sales. It's already true in support.”

“Over the, again, I want to be over the medium term, the technology takes longer to diffuse than we in Silicon Valley allow, and people are more adaptable. So over the medium, I'm not, I don't see any kind of 10% plus tech of an unemployment.”

“I'm pretty sure that in, in, in six years, maybe less, we'll see a fifty billion dollar and a hundred billion dollar cyber security company out of Israel. You know. I take it like take it like a fact, like, you know, the sun was, would rise tomorrow. You know,…”

“Not only are they going to do it, but so is Claude. I guarantee it. You know, they might figure out something clever and do the thing, but like, there's no, there's just not a universe unless Claude get bought by Apple or something. That, that Claude aren't go…”

“Well, you and I said half of the software engineers that are employed right now It in the Bay area will not be employed three years from now.”

“We're going to return to the moon before end of President Trump's term. We're going to build a moon base so we can stay.”

“And if you ask me today how I feel great because as I told you, we hit the bottom or maybe close to the bottom. And from here we can only grow and focus on execution.”

“And so they'll be stories like that. I don't know about Bravo or anybody else, but they'll definitely be PE firms that end up like Forsman Little.”

“There's no reason why Google will have any profit in 27 at all, right, in terms of cash flow. They will just spend every dollar they make On, on AI infrastructure.”

“So they're going to get killed by the startup that does it. They're going to get killed. Killed.”

“If we want to add in Waymo and what it'll do for self-driving within a four year period, Gosh, I think you could see 30 to forty million people.”

“I said, one of the leaders in the next 12 months is going to do an Elon Musk and just cut half their team in one day. They're going to lay off half the entire company.”

“Google, I would argue, is going to free cash with zero. I think Meta will go to free cash with zero.”

“Yeah. And I, you know, sometimes we change what terms mean, right? Like the term computer now refers to something else, but now we have the term software engineer. And so I definitely think we'll have many more builders.”

“But going back to the sales and marketing thing, like, I don't think that goes away because I think that's as, like I said, I think that's just gotten harder as the markets, any given market gets more competitive with more software out there.”

“There's something around on the order of about 400 initiations by Hoffman to Epstein.”

“There's something like 42 different meetings that are documented. Around 20 are absolutely confirmed.”

“Well, so I will go down, in three years, I'll go down to 300,000, and then I think it probably drops.”

“200,000.”

“Chamath, all his ex-partners have sued him. Mamoon sued them. The Grok guys he sued.”

“And unfortunately, it seems like OpenAI's release of last week, GPT, 5.3 codex, one of the big breakthrough models we've been talking about. As I look over the evidence, It seems like open AI did not abide by the testing that they had committed to in various w…”

“But if you look at utilities, normal companies that are more utility, They may trade at one to two. So I, from that perspective, you would argue there is still some unfortunate potential to come down even further. Is it going to be, look at Chegg in the US, ri…”

“If they sell per seat, we're not doing it. We need to replace jobs. Like labor displacement is what we're investing into. And that's the only way that we can actually return the amount of money that we need to now to make funds worth it.”

“If you end up with a Democrat controlled house and a Democrat president, In 20, 28, you'll very likely see a federalization of that obligation, meaning that the federal government will step in to bail out or support those state and local governments”

“That can read and remember all the books, and has a chance of becoming the new authority. That people will increasingly, they have a question, they will not go to a human rabbi, they will go to an AI, and it's the same in Christianity, and it's the same with I…”

“I think I called out Salesforce back then, as I cannot imagine people using something like this in the next 10 years. I think AI accelerates this.”

“And I think as the, as long as we will service our customers and our users, the business will continue to gain share. We're going to take the entire market. I really believe in it.”

“As soon as this really works, and maybe it's only single digit months away, he has millions of people who could be paid more than their lease price to allow the car into the fleet. And when he said this a decade ago, it sounded effing insane. He said that your…”

“And when Anthropic says in their funding, like, hey, we're gonna have three hundred billion dollars of revenue by the end of the decade, and it's like, actually I think that number's too low. Because the economic value of what they're gonna create is gonna be …”

“I'm going to do my thing, and if it works for them, fine, and if not, they can opt themselves out, and some of them have, and it's fine. Good people opted out, and it's fine. I'm not going to do things differently.”

“We're actually hoping to energize the first AI, AI factory powered by an SMR in twenty-twenty-seven.”

“Their cash cow, which kicks off 200 and forty-odd billion a year of revenue, which is the ads business, Isn't the best product on the market anymore, and some of those dollars will go to open AI, and because it's better real estate.”

“I don't think so. I think we'll just get more work.”

“I'm gonna go for five percent. Within a rounding year, I believe five percent.”

“I think the lower bound is five. I think the upper bound is six, two.”

“And because of the advancement of these models and the advancement of these technological techniques that we are all uncovering, building agents, building systems, I think you're going to see that total economic opportunity shrink and contract aggressively.”

“Russia, Ukraine. I think it's going to settle out this year. I think there's a lot of motivating factors to get it settled out this year, economic and other political factors, but I do think it's going to settle out this year, and it's going to bring a bit mor…”

“AI will increase demand for knowledge workers, not decrease it.”

“I think that's gonna be the great uncovering of twenty-twenty-six is we're gonna see on the order of trillions of dollars.”

“Like I think keyboards are kind of basically going to disappear. Completely. We haven't actually nailed speech. I know it feels like we have, but we haven't, because you're still using your keyboard. So as long as you're using a keyboard, we haven't nailed spe…”

“And I've said that I would, by the time President Trump leaves office, that we would like to have something with a three in front of it, which will stabilize the deficit to GDP, which is an important number, and enable us to start paying down debt.”

“I think we see four IPOs backloaded next year. SpaceX goes out first. Canva comes out of nowhere second. Databricks does it in the back half of the year because it's just time. Anthropic does it at the end of the year. OpenAI probably should have gone first, b…”