1 00:00:00,120 --> 00:00:02,120 Speaker 1: Let's move on to tech Tuesday. We're gonna have a 2 00:00:02,160 --> 00:00:03,800 Speaker 1: good time with that. And it all has to do 3 00:00:03,840 --> 00:00:06,560 Speaker 1: with you going broke, bankrupt and wanting to kill yourself 4 00:00:06,600 --> 00:00:10,239 Speaker 1: in a minute, Rich tomorrow, Good morning, Rich. 5 00:00:10,680 --> 00:00:12,400 Speaker 2: When you set it up like that, we are going 6 00:00:12,480 --> 00:00:14,920 Speaker 2: to have some fun. You bet. 7 00:00:15,560 --> 00:00:19,040 Speaker 1: I love death, I love diseases. And stock market is 8 00:00:19,040 --> 00:00:22,079 Speaker 1: down six hundred points, isn't it. So people have a 9 00:00:22,079 --> 00:00:25,960 Speaker 1: lot of stocks, including me, are looking at this and 10 00:00:26,079 --> 00:00:29,440 Speaker 1: I'm about to jump off of the our parking structure 11 00:00:29,440 --> 00:00:30,479 Speaker 1: and take a swan dive. 12 00:00:31,240 --> 00:00:33,680 Speaker 2: But oh my gosh, don't do it. But bitcoin is 13 00:00:33,720 --> 00:00:37,080 Speaker 2: the same way bitcoin is. Bitcoin crashed yesterday, so it's 14 00:00:37,159 --> 00:00:39,760 Speaker 2: just a sign of the times with the markets right now. 15 00:00:40,040 --> 00:00:43,680 Speaker 1: Okay, so let's talk about bitcoin crashing. I never thought 16 00:00:44,000 --> 00:00:47,160 Speaker 1: when bitcoin hit twenty thousand dollars, I said, this is insane. 17 00:00:47,600 --> 00:00:51,400 Speaker 1: It doesn't make sense because I remember when bitcoin was pennies. 18 00:00:52,040 --> 00:00:56,040 Speaker 1: Actually you could buy several bitcoin for a penny, and 19 00:00:56,080 --> 00:00:58,360 Speaker 1: then it went up and up and up. Twenty thousand dollars. 20 00:00:58,520 --> 00:01:00,920 Speaker 1: This is crazy, It doesn't make any sense. It hit 21 00:01:00,920 --> 00:01:04,240 Speaker 1: one hundred and twenty five thousand dollars and now it's 22 00:01:04,280 --> 00:01:07,120 Speaker 1: what ninety five thousand something like that. It dropped thirty percent. 23 00:01:07,160 --> 00:01:08,000 Speaker 1: What's going on with this? 24 00:01:09,280 --> 00:01:13,800 Speaker 2: Yeah, so yeah, so yesterday it dipped below ninety thousand 25 00:01:13,880 --> 00:01:15,560 Speaker 2: for the first time in like six months. So that's 26 00:01:15,640 --> 00:01:18,839 Speaker 2: kind of a new recent low. But it's interesting because 27 00:01:18,880 --> 00:01:21,640 Speaker 2: and that's like you said, the recent high was one 28 00:01:21,720 --> 00:01:24,600 Speaker 2: twenty five. So people that are in bitcoin, they have 29 00:01:24,720 --> 00:01:27,360 Speaker 2: been just you know, all over the place these wild 30 00:01:27,560 --> 00:01:30,560 Speaker 2: swings in the past year. In fact, I think at 31 00:01:30,560 --> 00:01:32,840 Speaker 2: this point it's wiped out all of the earnings for 32 00:01:32,880 --> 00:01:35,560 Speaker 2: the year, all the gains for the year with the 33 00:01:35,600 --> 00:01:37,640 Speaker 2: price it's at right now. So that's you know, people 34 00:01:37,640 --> 00:01:39,319 Speaker 2: that have this going into the end of the year 35 00:01:39,319 --> 00:01:43,560 Speaker 2: the holidays are not very happy. So what's happening. You know, 36 00:01:43,640 --> 00:01:46,319 Speaker 2: people are uncertain the future rate cuts, People are worried 37 00:01:46,319 --> 00:01:49,160 Speaker 2: about that. They're not sure that's going to happen. Traders 38 00:01:49,160 --> 00:01:51,400 Speaker 2: are just in general more cautious getting rid of some 39 00:01:51,480 --> 00:01:54,560 Speaker 2: of their risky bets and bitcoin, you know, a lot 40 00:01:54,600 --> 00:01:57,680 Speaker 2: of people could be seen as risky, and so we're 41 00:01:57,680 --> 00:01:59,400 Speaker 2: going to follow this to what happens. It is the 42 00:01:59,400 --> 00:02:01,880 Speaker 2: first time in a while that we have a lot 43 00:02:01,920 --> 00:02:06,000 Speaker 2: of money flowing into bitcoin from like what's called institutional investors. 44 00:02:06,000 --> 00:02:08,320 Speaker 2: These are the big companies that you know, people do 45 00:02:08,360 --> 00:02:09,799 Speaker 2: their four to one k's and all that stuff, and 46 00:02:09,800 --> 00:02:12,760 Speaker 2: they put money into this, and a lot of that 47 00:02:12,800 --> 00:02:16,200 Speaker 2: money is vanished. One point two trillion dollars in crypto 48 00:02:16,280 --> 00:02:19,880 Speaker 2: value has vanished now since early October. So it's just 49 00:02:19,919 --> 00:02:22,359 Speaker 2: all over the place with this stuff, and we'll see 50 00:02:22,400 --> 00:02:24,200 Speaker 2: what happens. Some people thought it was going to go 51 00:02:24,200 --> 00:02:26,160 Speaker 2: to two hundred thousand by the end of the year. 52 00:02:26,240 --> 00:02:29,920 Speaker 2: That is looking unlikely. But what do I know, Bill, Yeah, 53 00:02:29,960 --> 00:02:31,120 Speaker 2: and I don't get it either. 54 00:02:31,240 --> 00:02:34,800 Speaker 1: I mean, I've never understood I've never understood cryptocurrency ever. 55 00:02:35,560 --> 00:02:38,600 Speaker 1: But you know, go figure, I put a lot of 56 00:02:38,600 --> 00:02:40,520 Speaker 1: money on the table. If I had left a lot 57 00:02:40,520 --> 00:02:42,480 Speaker 1: of money on the table, if I had bought now 58 00:02:42,560 --> 00:02:46,399 Speaker 1: something that all of us understand, Amazon because so many 59 00:02:46,440 --> 00:02:49,480 Speaker 1: of us buy from Amazon. We certainly do. At my house, 60 00:02:49,520 --> 00:02:53,120 Speaker 1: I'm sitting at five packages that just came in yesterday 61 00:02:53,200 --> 00:02:56,160 Speaker 1: from Amazon. That's my wife, who's kind of crazy for that. 62 00:02:56,600 --> 00:02:59,840 Speaker 1: Amazon is now and you wrote this up is selling 63 00:03:00,280 --> 00:03:05,320 Speaker 1: used Fords in Lah Yeah, that's kind of new. And 64 00:03:05,320 --> 00:03:08,120 Speaker 1: then I assume that the Amazon guy delivers it and 65 00:03:08,160 --> 00:03:09,320 Speaker 1: puts it on your ports right. 66 00:03:10,400 --> 00:03:13,080 Speaker 2: They do not do that just yet, so that would 67 00:03:13,080 --> 00:03:16,760 Speaker 2: be ideal. I know, major missed opportunity from Amazon. But 68 00:03:17,080 --> 00:03:19,320 Speaker 2: here's the thing. I think Amazon is trying to appease 69 00:03:19,440 --> 00:03:22,679 Speaker 2: the dealership network that is already in place. If you 70 00:03:22,720 --> 00:03:25,640 Speaker 2: look at the way cars are sold in America, most 71 00:03:25,639 --> 00:03:27,639 Speaker 2: of the time you have to go through a dealer 72 00:03:27,680 --> 00:03:29,600 Speaker 2: at the end of the day. I think Tesla and 73 00:03:30,120 --> 00:03:33,200 Speaker 2: I mean they might be the only direct auto seller 74 00:03:33,360 --> 00:03:36,200 Speaker 2: that I know of, But the rest, no matter how 75 00:03:36,240 --> 00:03:38,760 Speaker 2: you start it, whether you go online, whatever, you still 76 00:03:38,800 --> 00:03:40,640 Speaker 2: got to deal with someone. Now, if you're doing used 77 00:03:40,640 --> 00:03:43,480 Speaker 2: it's a little bit different. They've got outfits like Carvana 78 00:03:43,800 --> 00:03:45,880 Speaker 2: that will bring the car right to your house after 79 00:03:45,920 --> 00:03:48,280 Speaker 2: you purchase it. You can do most of the process online. 80 00:03:48,680 --> 00:03:51,520 Speaker 2: But anyway, Ford is the latest to team up with 81 00:03:51,600 --> 00:03:54,880 Speaker 2: Amazon Amazon Autos to let you shop for these certified 82 00:03:55,000 --> 00:03:58,280 Speaker 2: used Fords. So they're launching it in Los Angeles, Seattle, 83 00:03:58,360 --> 00:04:01,320 Speaker 2: and Dallas and basically he can go onto the Amazon website, 84 00:04:01,320 --> 00:04:04,120 Speaker 2: you can browse the listings from nearby dealers, complete almost 85 00:04:04,160 --> 00:04:06,400 Speaker 2: all of the paperwork online, and then you go to 86 00:04:06,440 --> 00:04:09,600 Speaker 2: the dealer and you buy it. So it takes away 87 00:04:09,600 --> 00:04:12,480 Speaker 2: that whole haggle part of the situation. Plus you get 88 00:04:12,480 --> 00:04:15,840 Speaker 2: a fourteen day warranty on it, and it's just you know, 89 00:04:16,520 --> 00:04:19,240 Speaker 2: Hyundai did this with Amazon a couple months ago, and 90 00:04:19,279 --> 00:04:22,400 Speaker 2: now they've got Ford. I see a world where why 91 00:04:22,400 --> 00:04:24,680 Speaker 2: would you not if you're a car dealer, why would 92 00:04:24,720 --> 00:04:26,160 Speaker 2: you not want to be in on this. I mean 93 00:04:26,200 --> 00:04:28,320 Speaker 2: you're losing a bit on the haggle because yeah, you're 94 00:04:28,600 --> 00:04:31,440 Speaker 2: doing the prices that are upfront, but at the same 95 00:04:31,440 --> 00:04:33,720 Speaker 2: time you're reaching a wider swath of the audience, and 96 00:04:33,800 --> 00:04:36,520 Speaker 2: the younger audience is probably more shopping online these days. 97 00:04:36,720 --> 00:04:38,400 Speaker 2: Even from that, you don't yeah, you. 98 00:04:38,360 --> 00:04:41,400 Speaker 1: Don't see much haggling in the world. I mean other 99 00:04:41,760 --> 00:04:45,400 Speaker 1: than flea markets. I mean, you don't haggle at you 100 00:04:45,880 --> 00:04:47,839 Speaker 1: when you go to a clothing store, when you go 101 00:04:47,880 --> 00:04:52,119 Speaker 1: to the supermarket, and it's I kind of like the idea, 102 00:04:52,200 --> 00:04:55,719 Speaker 1: here's the price. I think CarMax does this. Here's your price, 103 00:04:55,760 --> 00:04:56,599 Speaker 1: thank you very much. 104 00:04:56,760 --> 00:04:56,960 Speaker 2: Right. 105 00:04:57,040 --> 00:04:59,760 Speaker 1: I love that that car vending machine that's off the 106 00:05:00,320 --> 00:05:04,800 Speaker 1: five Freeway where the cars are stacked up and you 107 00:05:04,839 --> 00:05:07,240 Speaker 1: press the button then they come, yeah, well I'm sorry, 108 00:05:07,279 --> 00:05:10,240 Speaker 1: that's carbon a carban, right, Yeah, And I was looking 109 00:05:10,279 --> 00:05:12,799 Speaker 1: the other day at someone getting one of those cars 110 00:05:12,800 --> 00:05:15,039 Speaker 1: and they were putting in thirty two thousand dollars worth 111 00:05:15,080 --> 00:05:16,920 Speaker 1: of quarters. Now it took a while. 112 00:05:17,040 --> 00:05:19,240 Speaker 2: You got to go to the Yeah, that's that's too much. 113 00:05:19,240 --> 00:05:20,960 Speaker 2: You got to go to the store and they may 114 00:05:21,000 --> 00:05:22,440 Speaker 2: not have it. You know, you're like, hey, can you 115 00:05:22,520 --> 00:05:26,240 Speaker 2: break twenty? But Bill, I'm curious because you touched upon 116 00:05:26,279 --> 00:05:29,560 Speaker 2: something that really really bugs me because this whole car 117 00:05:29,640 --> 00:05:34,280 Speaker 2: haggling situation is a pain for most Americans because think 118 00:05:34,320 --> 00:05:37,279 Speaker 2: about it, the dealer is dealing with this every single 119 00:05:37,360 --> 00:05:39,880 Speaker 2: day they're haggling. They know exactly how to close the sale, 120 00:05:40,200 --> 00:05:42,840 Speaker 2: what to say, you go in there what once every 121 00:05:42,920 --> 00:05:46,080 Speaker 2: three years to seal a deal. How are we equipped 122 00:05:46,160 --> 00:05:49,239 Speaker 2: to deal with these dealerships where it's just so slick 123 00:05:49,240 --> 00:05:51,760 Speaker 2: and they've got their system down, you know, and every 124 00:05:51,760 --> 00:05:53,800 Speaker 2: single person is paying a different price for a car 125 00:05:53,839 --> 00:05:56,040 Speaker 2: in twenty twenty five, twenty twenty six. That just seems 126 00:05:56,400 --> 00:05:57,480 Speaker 2: absolutely insane to me. 127 00:05:57,960 --> 00:06:00,320 Speaker 1: Yeah, anyway, and of course when you buy a car, oh, 128 00:06:00,400 --> 00:06:02,200 Speaker 1: let me bring my manager in here, and you'll give 129 00:06:02,200 --> 00:06:05,360 Speaker 1: you the best deal possible. And of course it is 130 00:06:06,000 --> 00:06:09,640 Speaker 1: the pressure and the it's professionals that know how to 131 00:06:09,680 --> 00:06:12,240 Speaker 1: close and you're waighing over your league. You're absolutely right. So, 132 00:06:12,279 --> 00:06:15,320 Speaker 1: by the way, do you see a future where haggling 133 00:06:15,560 --> 00:06:17,080 Speaker 1: is gone completely? 134 00:06:18,440 --> 00:06:20,920 Speaker 2: Well, here's the deal. There are some people that really 135 00:06:21,040 --> 00:06:24,960 Speaker 2: like that process. So I think that, you know, there's 136 00:06:25,000 --> 00:06:27,200 Speaker 2: people that go in there thinking, Okay, I'm going to 137 00:06:27,240 --> 00:06:29,320 Speaker 2: get a deal, and they go in and they wait 138 00:06:29,360 --> 00:06:31,400 Speaker 2: for these sales, and they wait for the rebates, and 139 00:06:31,400 --> 00:06:33,320 Speaker 2: they wait for the end of the month. You know. 140 00:06:33,640 --> 00:06:35,720 Speaker 2: But at the same time, I think there's a large 141 00:06:35,760 --> 00:06:39,039 Speaker 2: swath of the world, these digital natives who are growing 142 00:06:39,160 --> 00:06:42,239 Speaker 2: up and every single thing they do is from their phone, 143 00:06:42,640 --> 00:06:45,080 Speaker 2: and every time Bill I know about me personally. When 144 00:06:45,120 --> 00:06:47,720 Speaker 2: I go on Amazon, I am much more tempered with 145 00:06:47,760 --> 00:06:50,480 Speaker 2: my shopping because guess what I'm seeing exactly a running 146 00:06:50,480 --> 00:06:52,839 Speaker 2: total of how much I'm spending, Versus when I go 147 00:06:52,880 --> 00:06:55,159 Speaker 2: into Target. I just throw things into my car. You know, 148 00:06:55,240 --> 00:06:57,520 Speaker 2: all the time, I have no idea how much I'm 149 00:06:57,560 --> 00:06:58,599 Speaker 2: spending by the time I get. 150 00:06:58,440 --> 00:07:02,200 Speaker 1: To check out a toy concerns. It was only a 151 00:07:02,279 --> 00:07:05,120 Speaker 1: question of time before AI hit toys. So what's happening. 152 00:07:06,600 --> 00:07:11,800 Speaker 2: Yeah, So this group us PERG found that AI power 153 00:07:11,920 --> 00:07:14,720 Speaker 2: toys might be the newest tech concern for parents, the 154 00:07:14,800 --> 00:07:19,880 Speaker 2: reason they're having inappropriate conversations with kids, including adult topics. 155 00:07:20,440 --> 00:07:24,280 Speaker 2: One toy offered advice about finding knives or matches, and 156 00:07:24,320 --> 00:07:28,160 Speaker 2: some of these toys actually discourage kids from playing with them, 157 00:07:28,680 --> 00:07:32,040 Speaker 2: looking sad as the kids walk away. So the bottom 158 00:07:32,120 --> 00:07:35,000 Speaker 2: line is, we already know that AI is all over 159 00:07:35,000 --> 00:07:37,520 Speaker 2: the place in terms of hallucinations and what it can 160 00:07:37,560 --> 00:07:39,880 Speaker 2: do and what it can't do. But when you put 161 00:07:39,880 --> 00:07:43,120 Speaker 2: it in a kid's toy, you just don't know how 162 00:07:43,160 --> 00:07:45,560 Speaker 2: these things are going to perform, even with the guardrails 163 00:07:45,560 --> 00:07:48,880 Speaker 2: that these companies put in place. So my advice and 164 00:07:48,880 --> 00:07:51,720 Speaker 2: I would think that this report sort of echoes that 165 00:07:52,680 --> 00:07:55,680 Speaker 2: is that AI toys might not be ready for prime 166 00:07:55,760 --> 00:07:58,280 Speaker 2: time just yet. It's probably better to get something that's 167 00:07:58,320 --> 00:08:00,360 Speaker 2: a little bit more proven. If your device has an 168 00:08:00,400 --> 00:08:03,360 Speaker 2: Internet connection, might not be the best thing for your 169 00:08:03,480 --> 00:08:04,120 Speaker 2: young child. 170 00:08:04,800 --> 00:08:08,480 Speaker 1: Yeah, but today, how can you other than link and 171 00:08:08,600 --> 00:08:12,080 Speaker 1: logs or cabbage well even a cabbage patch now or 172 00:08:12,080 --> 00:08:16,080 Speaker 1: it's equivalent, has to be connected to AI, because how 173 00:08:16,080 --> 00:08:19,560 Speaker 1: do you compete with toys that aren't connected or those 174 00:08:19,600 --> 00:08:21,400 Speaker 1: that are not connected? How do they compete? 175 00:08:22,920 --> 00:08:25,640 Speaker 2: Yeah, I think that's the issue here is that number one, 176 00:08:25,720 --> 00:08:28,080 Speaker 2: kids are already on a toy that is very much 177 00:08:28,120 --> 00:08:31,360 Speaker 2: connected and very much can access pretty much anything on 178 00:08:31,400 --> 00:08:34,719 Speaker 2: the internet, the iPad or their phone. But I think 179 00:08:34,760 --> 00:08:38,800 Speaker 2: the difference here is that because it's marketed as a 180 00:08:38,840 --> 00:08:41,560 Speaker 2: toy for children, they are going to be talking to 181 00:08:41,640 --> 00:08:44,400 Speaker 2: this toy as if it was a friend. And if 182 00:08:44,400 --> 00:08:48,120 Speaker 2: this toy starts going off the rails and asking inappropriate 183 00:08:48,160 --> 00:08:51,280 Speaker 2: things or talking about inappropriate things, which by the way, 184 00:08:51,320 --> 00:08:54,880 Speaker 2: AI can do, especially during long sessions. We know that 185 00:08:54,920 --> 00:08:56,920 Speaker 2: when you talk to AI for a long time, it 186 00:08:57,040 --> 00:09:00,200 Speaker 2: sometimes goes a little crazy. And so I think that 187 00:09:00,280 --> 00:09:02,360 Speaker 2: these kids spending a lot of time with these toys, 188 00:09:02,640 --> 00:09:06,640 Speaker 2: that's when they have the potential issues involved in AI 189 00:09:06,720 --> 00:09:09,480 Speaker 2: and hallucinations and just going off the rails here. 190 00:09:09,920 --> 00:09:13,760 Speaker 1: And I'm assuming the technology and AI cannot concern it 191 00:09:13,800 --> 00:09:17,880 Speaker 1: cannot discern if it's a kid that's talking or that's 192 00:09:17,880 --> 00:09:23,880 Speaker 1: speaking to the program the platform, or what age that 193 00:09:24,000 --> 00:09:26,240 Speaker 1: kid is. I mean, there's some questions that could be asked, 194 00:09:26,280 --> 00:09:28,840 Speaker 1: But does that technology exist? 195 00:09:30,920 --> 00:09:32,440 Speaker 2: I mean, I don't, I don't. I mean, I'm sure 196 00:09:32,480 --> 00:09:34,840 Speaker 2: you could. You know, you can set guardrails for the 197 00:09:34,920 --> 00:09:37,720 Speaker 2: AI bot to you know, talk about topics that are 198 00:09:37,720 --> 00:09:40,800 Speaker 2: appropriate for a child. But the problem is, you know, 199 00:09:41,280 --> 00:09:44,400 Speaker 2: if these kids say something and the AI misconstrues it, 200 00:09:44,440 --> 00:09:46,360 Speaker 2: you know, and it brings up a totally different topic, 201 00:09:46,400 --> 00:09:48,360 Speaker 2: then it goes down that line. So we just don't know. 202 00:09:48,400 --> 00:09:51,560 Speaker 2: I think there's just not enough right now in place, 203 00:09:51,760 --> 00:09:55,160 Speaker 2: Like just regular AI for adults, you know, can be 204 00:09:55,200 --> 00:09:57,000 Speaker 2: all over the place, and so I think when it 205 00:09:57,000 --> 00:10:01,320 Speaker 2: comes to specifically toys for kids, it's probably not something 206 00:10:01,360 --> 00:10:05,120 Speaker 2: that is proven just yet, especially because these all have 207 00:10:05,240 --> 00:10:08,000 Speaker 2: AI models that are basically from one of the big 208 00:10:08,040 --> 00:10:12,160 Speaker 2: providers that these toy companies have sort of rewritten a 209 00:10:12,160 --> 00:10:15,600 Speaker 2: little bit to match a child's preferences in child's topics. 210 00:10:15,920 --> 00:10:18,680 Speaker 2: So I think that it's just as catchy and fun 211 00:10:18,679 --> 00:10:20,960 Speaker 2: as they may be to have a stuffed animal or 212 00:10:20,960 --> 00:10:23,079 Speaker 2: a bear that might talk to your child with AI, 213 00:10:23,559 --> 00:10:25,960 Speaker 2: it's probably not the best time right now for that 214 00:10:26,040 --> 00:10:26,960 Speaker 2: kind of stuff. 215 00:10:26,920 --> 00:10:30,880 Speaker 1: All right, Rich, Thanks Michael. Catch you next Tuesday and 216 00:10:30,960 --> 00:10:34,920 Speaker 1: this Saturday eleven to two right here on KFI KTLA 217 00:10:35,000 --> 00:10:38,680 Speaker 1: every day and Instagram at rich on Tech website, rich 218 00:10:38,720 --> 00:10:41,840 Speaker 1: on tech dot TV with some great information. Rich, you 219 00:10:41,840 --> 00:10:43,439 Speaker 1: have a good one. Take care of my friend. 220 00:10:43,600 --> 00:10:44,120 Speaker 2: Thanks Bill,