The Ledger, every show

“I think Google's underrated. I think it's going to be the first 10 trillion dollar company in our lifetime.”

“My rule of thumb is that in the next three years, we'll probably have half the people in GNA type activities in companies. Things like marketing, things like finance, things like HR, because there's a lot of process management there, and a lot of process manag…”

“People believe we're going to have less people working because AI is going to take over our jobs. I don't believe that. I think what's going to happen is you can'forward imagine the number of people on my team who want more technical resources, more AI savvy r…”

“In six weeks we found vulnerabilities which would have normally taken us five to seven years to find.”

“If you're an analytical SaaS company, it's over.”

“The current startups you mentioned like startups that are trying to do what AI wrappers are trying to do on LLMs. And over time we're going to get better and better where we're going to squeeze their capability over time that you wouldn't need them.”

“I think in concept from a north star perspective, we should be able to take 80, 90% of customer support out in the next two to five years across the landscape.”

“I think in two, three months from now, open source have distilled all these capabilities, and we'll find open source models out there, which you can find to you if you're an attacker, to actually do this on a task basis.”

“Average intelligence is going to be free in the long term, and the average intelligence will keep getting better. Exceptional intelligence will be paid for.”

“I think in the next three, four years we won't be paying for intelligence, we'll be paying for compute through our nose.”

“I think every consumer app will get rewritten in the next five to 10 years. You know, why would I not have my agent talk to my DoorDash app or Uber app?”

“I think the long-term token pricing should be one-tenth of what it is today.”

“The real enterprise revenue is going to come from use cases that are required a lot more context.”

“SaaS applications will give way to AI applications, the difference being SaaS applications have no opinion, AI applications will have opinions. That's a fundamental rethink we need from a workflow perspective.”

“We've been hiring people only through hackathons now, right? And we see natural attrition of two percent, give or take a month, and we just replace them with people who actually are AI savvy people who are from hackathons. Give me 12 months, I'll have sort of …”

“If I abstract, if I step back today there's not enough compute for what the world is demanding. Unequivocally not enough compute, right? You can't buy compute. Compute is costing two to three X or four X more than it used to cost two years ago. There's not eno…”

“I think more than half of the compute is going to feed the consumer, which is a fundamentally loss-making entity right now. Like, I don't think any of the frontier models make any money in trying to get you and me to use ChatGPD or, you know, Claude or Gemini …”

“Financial markets are not going to bear the cost of another hundred billion dollars at a trillion dollars or trillion and a half.”

“So I think there may be a digestion period at some point in time when we think the demand for compute is there, but the capacity to execute is now limited by physics, and the infrastructure players have built up too much capacity for this demand.”

“I think as we think things evolve the next 12 to 24 months, people will switch from one set of products to another because something will emerge as a better product.”

“Let me put Palo Alto, it solves the problem that 20 different companies do together on one platform.”

“There is room to build companies which have tens of billions of dollars of market cap in the next 10 to 25 years.”

“I think we're three months away, if not already there, from this being available in the wild.”

“We are going to need 10 times the data stored enterprise than we have today.”

“So I think the whole system of work System of record gets reinvented the next five years.”

“I still believe models are going to become a utility layer. You'll be able to buy intelligence on the fly”

“The false positive rate on Mythos was 30%.”

“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.”

“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.”

“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…”

“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…”

“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.”

“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 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.”

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

“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.”

“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.”

“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?”

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