1 00:00:02,480 --> 00:00:06,800 Speaker 1: All Zone Media. Hello and welcome to Better Offline. I'm 2 00:00:06,840 --> 00:00:21,400 Speaker 1: your host ed Zitron. What last episode I posited that 3 00:00:21,520 --> 00:00:24,400 Speaker 1: everything weird and bad you're seeing in the tech industry 4 00:00:24,480 --> 00:00:26,800 Speaker 1: right now can be attributed to the death of its 5 00:00:26,840 --> 00:00:30,920 Speaker 1: hypergrowth era. You see, up until around twenty nineteen, take 6 00:00:31,000 --> 00:00:35,080 Speaker 1: experience this epoch where there were these obvious, giant, multi 7 00:00:35,080 --> 00:00:38,240 Speaker 1: trillion dollar markets to conquer, things like software as a service, 8 00:00:38,280 --> 00:00:42,360 Speaker 1: cloud storage, streaming, audio and video, things like that, along 9 00:00:42,360 --> 00:00:45,960 Speaker 1: with billions of people that were getting online every single year. 10 00:00:46,720 --> 00:00:50,520 Speaker 1: Yet now they face another problem that only one hundred 11 00:00:50,640 --> 00:00:53,120 Speaker 1: million new people got online between twenty twenty two and 12 00:00:53,120 --> 00:00:56,040 Speaker 1: twenty thirty three, and the traffic that they're sending to 13 00:00:56,080 --> 00:00:58,840 Speaker 1: the majority of the Internet's top one hundred Internet properties 14 00:00:59,200 --> 00:01:03,800 Speaker 1: has entered this prolonged, agonizing period of declient and were 15 00:01:03,920 --> 00:01:06,640 Speaker 1: still they don't appear to be any new multi trillion 16 00:01:06,680 --> 00:01:10,080 Speaker 1: markets left to grow into. This led to a profound 17 00:01:10,240 --> 00:01:13,759 Speaker 1: period of desperation in tech. The tech industry got high 18 00:01:13,800 --> 00:01:16,399 Speaker 1: on the hog promising the world and then somehow actually 19 00:01:16,440 --> 00:01:20,039 Speaker 1: managing to deliver it. You see Facebook, they actually connected 20 00:01:20,080 --> 00:01:23,279 Speaker 1: billions of people. There are millions of electric cars, cloud 21 00:01:23,280 --> 00:01:27,960 Speaker 1: products are both ubiquitous and useful. You can stream music anywhere. 22 00:01:28,040 --> 00:01:31,280 Speaker 1: There are real things, real ideas, new things that they 23 00:01:31,319 --> 00:01:34,319 Speaker 1: could just pump money into and then reap the benefits until, 24 00:01:34,360 --> 00:01:39,080 Speaker 1: of course there weren't. Venture capital also got used to 25 00:01:39,120 --> 00:01:42,480 Speaker 1: making easy, safe bets on new startups and seeing pretty 26 00:01:42,560 --> 00:01:46,279 Speaker 1: much automated massive returns because there were still these massive 27 00:01:46,280 --> 00:01:48,640 Speaker 1: markets to enter, and of course they were able to 28 00:01:48,680 --> 00:01:52,080 Speaker 1: get very cheap money borrowed from limited partners and I 29 00:01:52,240 --> 00:01:54,400 Speaker 1: at some point really do need to explain exactly how 30 00:01:54,480 --> 00:01:57,320 Speaker 1: venture capital works, but that's a future episode. Yet, since 31 00:01:57,360 --> 00:02:01,840 Speaker 1: twenty nineteen, tech's biggest ideas of being a beer, it wank. 32 00:02:03,520 --> 00:02:08,400 Speaker 1: These new ideas they've had, NFTs, cryptocurrency, the metaverse, generative AI, 33 00:02:08,680 --> 00:02:12,640 Speaker 1: these movements, they seem to sell ideas and glimpses of 34 00:02:12,680 --> 00:02:15,360 Speaker 1: the future rather than an actual product that would solve 35 00:02:15,400 --> 00:02:18,120 Speaker 1: an actual problem for anyone, let alone the billions of 36 00:02:18,120 --> 00:02:21,800 Speaker 1: people required to make a giant market. And the commonality 37 00:02:21,840 --> 00:02:24,600 Speaker 1: between all of these products is that they're all trying 38 00:02:24,639 --> 00:02:27,200 Speaker 1: to create one. They all need to make a new 39 00:02:27,280 --> 00:02:30,040 Speaker 1: hypergrowth market, an industry that could be worth hundreds of 40 00:02:30,080 --> 00:02:33,040 Speaker 1: billions or even trillions of dollars for investors to pile 41 00:02:33,120 --> 00:02:36,119 Speaker 1: capital into or i should say, into startups that will 42 00:02:36,120 --> 00:02:39,880 Speaker 1: then grow into these industries. But in all of their 43 00:02:39,919 --> 00:02:42,119 Speaker 1: cases they kind of seem to fall short the moment 44 00:02:42,160 --> 00:02:45,560 Speaker 1: they enter the real world. Had NFTs actually been a 45 00:02:45,600 --> 00:02:48,840 Speaker 1: replacement for art or collectibles, they could have created an 46 00:02:48,880 --> 00:02:52,280 Speaker 1: industry worth hundreds of billions of dollars, except they lacked 47 00:02:53,280 --> 00:02:56,560 Speaker 1: any compelling use case of reason to do so, other 48 00:02:56,639 --> 00:02:59,840 Speaker 1: than the fact that venture capitalists really wanted them to 49 00:02:59,840 --> 00:03:04,280 Speaker 1: do so. The same went for cryptocurrency, which draped itself 50 00:03:04,320 --> 00:03:09,239 Speaker 1: in these horrible manipulative concepts like decentralized software, programmable money, 51 00:03:09,360 --> 00:03:14,600 Speaker 1: democratized finance, ideas that could theoretically be trillion dollar concepts, 52 00:03:15,080 --> 00:03:18,320 Speaker 1: except in practice cryptocurrency is horrible as a store of 53 00:03:18,400 --> 00:03:21,440 Speaker 1: value and even worse as an operable piece of software. 54 00:03:21,800 --> 00:03:24,000 Speaker 1: But the same does go for the metaverse and for 55 00:03:24,080 --> 00:03:26,960 Speaker 1: generative AI. Their concepts sold on the idea of what 56 00:03:27,000 --> 00:03:29,560 Speaker 1: if it could do this, rather than what it can 57 00:03:29,600 --> 00:03:33,000 Speaker 1: actually do. And that's before if you got to the nasty, 58 00:03:33,000 --> 00:03:36,960 Speaker 1: messy problem of whether actually people wanted them to do anything, 59 00:03:37,000 --> 00:03:40,880 Speaker 1: whether people wanted to live in the metaverse or transact 60 00:03:40,880 --> 00:03:43,880 Speaker 1: with digital money, you can do that using zell or 61 00:03:43,960 --> 00:03:46,600 Speaker 1: Vemo today, you could do it years ago. I don't 62 00:03:46,640 --> 00:03:49,000 Speaker 1: really get it. And yet the most obvious problem with 63 00:03:49,040 --> 00:03:52,920 Speaker 1: these movements is that they're constantly having to explain why 64 00:03:52,960 --> 00:03:55,880 Speaker 1: you should care, rather than showing you why you should care. 65 00:03:56,560 --> 00:03:59,360 Speaker 1: The promises they've made they're not based on things that 66 00:03:59,360 --> 00:04:02,840 Speaker 1: they're actually doing, but on showing you this kind of messy, 67 00:04:03,040 --> 00:04:06,080 Speaker 1: childish drawing of a concept of something that one day 68 00:04:06,200 --> 00:04:09,160 Speaker 1: might exist, and almost universally rely on this kind of 69 00:04:09,200 --> 00:04:12,440 Speaker 1: pseudo religious belief system where one has faith in an 70 00:04:12,520 --> 00:04:15,760 Speaker 1: industry and that doing so makes you smart. And you 71 00:04:15,840 --> 00:04:20,280 Speaker 1: need to decry cynics as Luodites that hate progress, because well, 72 00:04:20,600 --> 00:04:23,480 Speaker 1: one has to be first, right And what's crazy as 73 00:04:23,480 --> 00:04:25,520 Speaker 1: well with all the AI people who are like, ah, 74 00:04:25,560 --> 00:04:27,400 Speaker 1: you need to believe in AI. A lot of these 75 00:04:27,440 --> 00:04:29,760 Speaker 1: people aren't invested in these companies. They just want to 76 00:04:29,800 --> 00:04:32,440 Speaker 1: be part of a movement. It's so sad, but it's 77 00:04:32,480 --> 00:04:37,280 Speaker 1: also so craven and manipulative. And the problem isn't so 78 00:04:37,360 --> 00:04:40,040 Speaker 1: much that these concepts are bad, but that they're premature. 79 00:04:40,640 --> 00:04:43,000 Speaker 1: The metaverse is a silly idea at the scale that 80 00:04:43,080 --> 00:04:45,800 Speaker 1: Zuckerbo pitched it, but digital worlds that people spend thousands 81 00:04:45,839 --> 00:04:47,680 Speaker 1: of hours of their lives and are not The take 82 00:04:48,000 --> 00:04:50,880 Speaker 1: that he's talking about just isn't there and may not 83 00:04:51,080 --> 00:04:54,400 Speaker 1: actually be, And without that tech, I just don't think 84 00:04:54,400 --> 00:04:57,600 Speaker 1: they become ubiquitous concepts adopted by hundreds of millions or 85 00:04:57,600 --> 00:05:00,159 Speaker 1: billions of people in the way that he said. To 86 00:05:00,200 --> 00:05:03,279 Speaker 1: do the things that he demonstrated in the twenty twenty 87 00:05:03,320 --> 00:05:06,719 Speaker 1: one video he showed when he changed Facebook's name to 88 00:05:06,839 --> 00:05:10,280 Speaker 1: Meta would require, as I mentioned last episode, all of 89 00:05:10,320 --> 00:05:16,240 Speaker 1: this extrasensory tech that is nowhere near existing. But let's 90 00:05:16,240 --> 00:05:18,520 Speaker 1: get a little bit into the present for a second 91 00:05:18,960 --> 00:05:21,800 Speaker 1: and talk about generative AI, which has use cases and 92 00:05:22,000 --> 00:05:25,479 Speaker 1: can do some cool things, but the desperation to make 93 00:05:25,520 --> 00:05:28,599 Speaker 1: it the next big hypergrowth market has turned it into 94 00:05:28,640 --> 00:05:31,840 Speaker 1: more of a marketing campaign, and a marketing campaign made 95 00:05:31,920 --> 00:05:36,760 Speaker 1: up of these gratuitous, insane promises about artificial general intelligence 96 00:05:37,120 --> 00:05:41,080 Speaker 1: or about how AI could run our lives, all kind 97 00:05:41,080 --> 00:05:43,200 Speaker 1: of to hide the fact that most of these models 98 00:05:43,240 --> 00:05:48,200 Speaker 1: are trained on a noxious form of public larceny, stealing 99 00:05:48,440 --> 00:05:51,560 Speaker 1: from thousands or millions of creators to train models to 100 00:05:51,640 --> 00:05:55,279 Speaker 1: do nothing. Training these models, by the way, will not 101 00:05:55,480 --> 00:05:59,600 Speaker 1: give us agi it's not going to give us cognition 102 00:05:59,680 --> 00:06:02,839 Speaker 1: in AI. They are lying about that. I really want 103 00:06:02,839 --> 00:06:07,560 Speaker 1: to be clear, but also want to be clear that, uh, well, 104 00:06:07,880 --> 00:06:09,800 Speaker 1: generative AI is probably not going to do much more 105 00:06:09,839 --> 00:06:12,159 Speaker 1: than it's doing today. I'm making that call right now. 106 00:06:12,360 --> 00:06:16,400 Speaker 1: What's happened in the last year. Nothing but these problems 107 00:06:16,440 --> 00:06:19,560 Speaker 1: are created by the fact that they might be good ideas, 108 00:06:19,560 --> 00:06:22,320 Speaker 1: but they're not trillion dollar ideas, but they're being given 109 00:06:22,360 --> 00:06:25,680 Speaker 1: the funding and the marketing efforts to make them that way, 110 00:06:25,760 --> 00:06:30,039 Speaker 1: even though they're so premature. It's ridiculous and it's just 111 00:06:30,080 --> 00:06:32,160 Speaker 1: a it's a rotten kind of mindset. It is the 112 00:06:32,240 --> 00:06:35,720 Speaker 1: rot economy, and it is the rot com bubble. This 113 00:06:35,800 --> 00:06:38,719 Speaker 1: is the bubble being inflated, pushing concepts to the limelight 114 00:06:38,760 --> 00:06:42,920 Speaker 1: before they're ready, pushing things through to show that companies 115 00:06:42,920 --> 00:06:45,320 Speaker 1: can keep growing, that the tech industry can keep growing. 116 00:06:45,520 --> 00:06:48,240 Speaker 1: And you can see miniature versions of this problem running 117 00:06:48,240 --> 00:06:51,440 Speaker 1: through all of your favorite tech products right now. Google's 118 00:06:51,480 --> 00:06:54,760 Speaker 1: forcing AI and to search, Facebook's constantly changing its algorithms 119 00:06:54,839 --> 00:06:58,600 Speaker 1: and adding AI. Amazon's letting in basically anyone to sell 120 00:06:58,600 --> 00:07:02,120 Speaker 1: anything on Amazon at any time, even if it's clogging 121 00:07:02,160 --> 00:07:05,840 Speaker 1: the Kindle store with AI generated crap. They're all doing 122 00:07:05,880 --> 00:07:08,480 Speaker 1: it because they're desperate to show that they're innovative and 123 00:07:08,520 --> 00:07:11,520 Speaker 1: adding new things and able to express perpetual growth, even 124 00:07:11,560 --> 00:07:15,400 Speaker 1: if doing so makes things worse. Even Apple, who I 125 00:07:15,520 --> 00:07:18,880 Speaker 1: generally like the products of, is doing it too. iOS 126 00:07:19,000 --> 00:07:21,640 Speaker 1: is a complete mess. Go into your settings, there's one 127 00:07:21,720 --> 00:07:24,880 Speaker 1: hundred different things at the top. It will sometimes transsell 128 00:07:24,960 --> 00:07:27,760 Speaker 1: you Apple News. Plus sometimes you get a notification about 129 00:07:27,760 --> 00:07:30,200 Speaker 1: a baseball game that's a nail biter. I had one 130 00:07:30,280 --> 00:07:32,320 Speaker 1: yesterday for the Angels Marlins, and if you're not a 131 00:07:32,320 --> 00:07:35,400 Speaker 1: baseball fan, that's not that exciting a game. It's like 132 00:07:35,440 --> 00:07:37,960 Speaker 1: watching two turds fight in a toilet. Sorry, if I've 133 00:07:37,960 --> 00:07:41,800 Speaker 1: got any Marlins or Angels fans. Back to the tech stuff, though, 134 00:07:43,320 --> 00:07:46,160 Speaker 1: I must be clear that there is a mindset behind this, 135 00:07:46,240 --> 00:07:48,480 Speaker 1: and it is the rot economy and the rot economy's 136 00:07:48,480 --> 00:07:51,600 Speaker 1: growth at all cost mindset. It drives these companies away 137 00:07:51,640 --> 00:07:55,080 Speaker 1: from innovation. It flies in the face of what it 138 00:07:55,160 --> 00:07:59,280 Speaker 1: takes to innovate, which means losing money on ideas that 139 00:07:59,360 --> 00:08:03,520 Speaker 1: actually help people. And it's all happening because these markets 140 00:08:03,800 --> 00:08:06,320 Speaker 1: they reward public companies and the startups that they try 141 00:08:06,360 --> 00:08:09,160 Speaker 1: and acquire for making a number go up rather than 142 00:08:09,200 --> 00:08:13,320 Speaker 1: any kind of consistent, profitable, sustainable, or useful business. And 143 00:08:13,360 --> 00:08:16,000 Speaker 1: it frustrates me and fills me full of angry bio 144 00:08:16,240 --> 00:08:22,320 Speaker 1: because they're all capable of making cool stuff. Amazon made aws, 145 00:08:22,400 --> 00:08:26,280 Speaker 1: Amazon web Services, the foundational thing of all cloud computing. 146 00:08:27,280 --> 00:08:30,080 Speaker 1: Facebook at one point was a very useful product that 147 00:08:30,120 --> 00:08:32,160 Speaker 1: connected people that you loved and you liked and that 148 00:08:32,200 --> 00:08:34,800 Speaker 1: you just met, except they had to make the number 149 00:08:34,840 --> 00:08:36,920 Speaker 1: go up. And I think, by the way, Zuckerberg is 150 00:08:36,960 --> 00:08:38,559 Speaker 1: separate to a lot of these companies because he was 151 00:08:38,600 --> 00:08:41,200 Speaker 1: always kind of evil listen to the Facebook episodes and 152 00:08:41,240 --> 00:08:45,920 Speaker 1: not lying. But really, though all these companies had noble times, 153 00:08:45,960 --> 00:08:48,880 Speaker 1: they had times when they were still doing value extraction, 154 00:08:48,920 --> 00:08:51,640 Speaker 1: where they were still doing some form of conning, where 155 00:08:51,640 --> 00:08:53,640 Speaker 1: they were still doing monopoly plays, but they were at 156 00:08:53,720 --> 00:08:57,040 Speaker 1: least providing something useful. Now they're making things worse because 157 00:08:57,040 --> 00:08:59,920 Speaker 1: they have no more useful ideas or at least you 158 00:09:00,040 --> 00:09:12,800 Speaker 1: ustful and profitable ones. What makes the last few years 159 00:09:12,840 --> 00:09:16,160 Speaker 1: worth of bullshit stupid tech movements different from the previous 160 00:09:16,160 --> 00:09:19,400 Speaker 1: innovations is that when an industry is ready for hypergrowth, 161 00:09:19,440 --> 00:09:22,040 Speaker 1: there's a product that actually exists that will truly change 162 00:09:22,080 --> 00:09:26,080 Speaker 1: people's lives. The promises made by tech executives were at 163 00:09:26,120 --> 00:09:29,079 Speaker 1: one point based on things that one can reasonably believe 164 00:09:29,080 --> 00:09:32,000 Speaker 1: would happen, rather than this kind of weird, erotic fan 165 00:09:32,040 --> 00:09:35,600 Speaker 1: fiction to send a stock number up. Using the first iPhone, 166 00:09:35,640 --> 00:09:37,839 Speaker 1: you could kind of see that you might make video 167 00:09:37,920 --> 00:09:40,360 Speaker 1: calls on it, or take video, or use distinct third 168 00:09:40,400 --> 00:09:42,440 Speaker 1: party apps like you were already doing on a Mac. 169 00:09:42,760 --> 00:09:45,000 Speaker 1: And while Steve Jobs and yes he was an awful person, 170 00:09:45,080 --> 00:09:48,200 Speaker 1: I know, did talk about what's coming next, he did 171 00:09:48,240 --> 00:09:51,440 Speaker 1: so by saying that the iPhone on the initial announcement 172 00:09:51,679 --> 00:09:53,960 Speaker 1: would add three G and amazing things in the future. 173 00:09:54,400 --> 00:09:56,280 Speaker 1: And he did so just before and this was in 174 00:09:56,320 --> 00:09:59,559 Speaker 1: the original iPhone speech, showing the actual real features of 175 00:09:59,600 --> 00:10:03,040 Speaker 1: the first iPhone, things that people actually wanted, like having 176 00:10:03,080 --> 00:10:06,720 Speaker 1: your music on your phone, being able to see what 177 00:10:06,800 --> 00:10:10,120 Speaker 1: voicemails you had versus just calling a number and then 178 00:10:10,200 --> 00:10:12,160 Speaker 1: hitting buttons to skip to the ones you need to 179 00:10:12,200 --> 00:10:15,440 Speaker 1: see or hear in this case. And these promises, they 180 00:10:15,480 --> 00:10:18,439 Speaker 1: were believable, either because they felt like a logical next 181 00:10:18,480 --> 00:10:21,240 Speaker 1: step or because they described features that could be found 182 00:10:21,280 --> 00:10:25,520 Speaker 1: in other competing products. Apple's always been a company of 183 00:10:25,559 --> 00:10:30,560 Speaker 1: iteration rather than forceful, explosive innovation. It doesn't really create 184 00:10:30,600 --> 00:10:33,560 Speaker 1: new categories, but it does refine them. And this trait 185 00:10:33,679 --> 00:10:36,840 Speaker 1: was even referenced in the classic Douglas Copeland novel Microserfs, 186 00:10:36,840 --> 00:10:39,439 Speaker 1: first published in nineteen ninety five, before Tim Cook took over, 187 00:10:39,520 --> 00:10:42,960 Speaker 1: or even the return of Steve Jobs. It didn't make 188 00:10:43,040 --> 00:10:45,240 Speaker 1: the first smart watch, or the first table, or the 189 00:10:45,280 --> 00:10:48,400 Speaker 1: first arm based PC, but Apple did make them good 190 00:10:48,760 --> 00:10:53,200 Speaker 1: and made them practical and useful and sellable. You saw 191 00:10:53,240 --> 00:10:55,360 Speaker 1: these new products and you said, oh, I could do that, 192 00:10:55,559 --> 00:10:59,079 Speaker 1: I could take photos with that. Oh I don't need 193 00:10:59,120 --> 00:11:01,360 Speaker 1: an iPod and phone. I have a phone that does 194 00:11:01,360 --> 00:11:04,280 Speaker 1: two things. I'm not even trying to romanticize the iPhone. 195 00:11:04,480 --> 00:11:09,520 Speaker 1: I'm just describing what basic utility sounds like in a product, 196 00:11:09,880 --> 00:11:13,240 Speaker 1: something that has been lost in the tech industry. Just 197 00:11:13,240 --> 00:11:17,440 Speaker 1: look at Samultman, Sondhar Pashai, and Sachin Adella of Open Ai, 198 00:11:17,559 --> 00:11:21,680 Speaker 1: Google and Microsoft. They seem intent on discussing what AI 199 00:11:21,880 --> 00:11:24,680 Speaker 1: will do, that it will have a monumental impact, that 200 00:11:24,800 --> 00:11:27,040 Speaker 1: it will be a smart person in those everything about 201 00:11:27,040 --> 00:11:29,360 Speaker 1: your life, and yet when they're actually asked about what 202 00:11:29,400 --> 00:11:32,959 Speaker 1: it does today, they just seem to go kind of quiet. 203 00:11:33,920 --> 00:11:36,199 Speaker 1: They start her, they're speechless. And when sach a and 204 00:11:36,240 --> 00:11:39,280 Speaker 1: Adella was actually asked about how he uses AI in 205 00:11:39,320 --> 00:11:43,160 Speaker 1: his day to day work, he said the Microsoft Copilot 206 00:11:43,160 --> 00:11:48,640 Speaker 1: helps him compose emails better. Congratulations, Microsoft, you invented grammarly, 207 00:11:48,679 --> 00:11:53,240 Speaker 1: a product that's existed for fifteen years. Jesus Christ Anyway. 208 00:11:53,440 --> 00:11:56,360 Speaker 1: As an aside, sach In Adella of Microsoft said in 209 00:11:56,360 --> 00:11:59,760 Speaker 1: twenty twenty one that Microsoft was with the metaverse creating 210 00:11:59,800 --> 00:12:02,839 Speaker 1: an I quote here, a new platform and a new 211 00:12:02,880 --> 00:12:06,600 Speaker 1: application type that was similar to how it talked about 212 00:12:06,640 --> 00:12:09,240 Speaker 1: the web and the websites in the early nineties, and 213 00:12:09,280 --> 00:12:12,160 Speaker 1: that he could not overstate how much a breakthrough the 214 00:12:12,200 --> 00:12:16,480 Speaker 1: metaverse was. He would then dump it entirely two years later. 215 00:12:17,640 --> 00:12:21,600 Speaker 1: Two years before that, so in twenty nineteen, Nadella called 216 00:12:21,640 --> 00:12:26,480 Speaker 1: HoloLens two, microsoft's augmented reality glasses, an absolute breakthrough, a 217 00:12:26,520 --> 00:12:30,079 Speaker 1: few months after its demo failed live on stage at 218 00:12:30,080 --> 00:12:35,280 Speaker 1: Microsoft's Bill twenty nineteen conference. And while Microsoft hasn't killed HoloLens, 219 00:12:35,480 --> 00:12:38,240 Speaker 1: it's clear the company's appetite for mixed and virtual reality 220 00:12:38,840 --> 00:12:42,560 Speaker 1: has kind of dampened with HoloLens work as partially impacted 221 00:12:42,559 --> 00:12:46,080 Speaker 1: over the last year's sweeping layoffs at Microsoft and Microsoft 222 00:12:46,120 --> 00:12:49,439 Speaker 1: discontinuing its VR social network, All Space VR and Windows 223 00:12:49,480 --> 00:12:53,440 Speaker 1: Mixed Reality. Where's the breakthrough, Satcha, Satcha, you told me 224 00:12:53,480 --> 00:12:56,000 Speaker 1: this shit was a breakthrough in twenty nineteen. Hey, the 225 00:12:56,000 --> 00:13:00,760 Speaker 1: metaus was a breakthrough? Is everything a breakthrough? Satcha? Anyway, 226 00:13:01,800 --> 00:13:05,920 Speaker 1: every single one of these questionable, weird, stupid products and 227 00:13:05,960 --> 00:13:10,000 Speaker 1: the stupider decisions behind them, it's all an act of desperation, 228 00:13:10,120 --> 00:13:12,280 Speaker 1: an attempt to keep the rot economy going, and the 229 00:13:12,280 --> 00:13:15,120 Speaker 1: growth that all costs fire from going out, stripping crap 230 00:13:15,160 --> 00:13:17,880 Speaker 1: off of the walls and throwing it in, selling shit 231 00:13:18,040 --> 00:13:20,600 Speaker 1: so you can get more oil to throw on the fire. 232 00:13:20,640 --> 00:13:22,719 Speaker 1: You can tell I have done a lot of fires. But seriously, 233 00:13:23,160 --> 00:13:25,800 Speaker 1: this is all desperation to keep a party going that 234 00:13:26,000 --> 00:13:29,520 Speaker 1: ended quite some time ago. There's a finite amount of 235 00:13:29,559 --> 00:13:32,000 Speaker 1: people in the world right now, less of them getting online. 236 00:13:32,000 --> 00:13:34,240 Speaker 1: And while more people are being born, they're going to 237 00:13:34,240 --> 00:13:36,360 Speaker 1: be born into a very different tech industry than the 238 00:13:36,360 --> 00:13:39,240 Speaker 1: one we see today. And there's an even more finite 239 00:13:39,280 --> 00:13:41,280 Speaker 1: amount of those people that will go online at any 240 00:13:41,280 --> 00:13:44,480 Speaker 1: given time, and in turn, even fewer of them that 241 00:13:44,600 --> 00:13:47,640 Speaker 1: might actually want to use a particular service, especially one 242 00:13:47,679 --> 00:13:52,160 Speaker 1: that isn't obvious in why you should bloody use it. Previously, 243 00:13:52,280 --> 00:13:55,040 Speaker 1: these companies were able to anticipate and meet customers' needs 244 00:13:55,160 --> 00:13:57,800 Speaker 1: on both the consumer and enterprise level, in part because 245 00:13:57,840 --> 00:14:01,839 Speaker 1: they actually understood their customers and knew that making their 246 00:14:01,840 --> 00:14:06,840 Speaker 1: customers happy actually made them successful. I believe that behind 247 00:14:06,880 --> 00:14:09,120 Speaker 1: the scenes, many of these companies have been struggling for 248 00:14:09,240 --> 00:14:11,800 Speaker 1: years to find the next big thing, knowing that while 249 00:14:11,800 --> 00:14:14,120 Speaker 1: there might be needs to be made, you know, those horrible, 250 00:14:14,280 --> 00:14:18,199 Speaker 1: nasty customers that always want problems solved. Ugh, those needs 251 00:14:18,280 --> 00:14:21,200 Speaker 1: might not be things that will create double digit revenue 252 00:14:21,200 --> 00:14:24,000 Speaker 1: growth or convince Wall Street that a stock will grow forever. 253 00:14:25,120 --> 00:14:27,120 Speaker 1: Though I can't say for certain. I'd also say the 254 00:14:27,160 --> 00:14:31,000 Speaker 1: ascent of management consultancy types in tech, people like Sheryl Samberg, 255 00:14:31,080 --> 00:14:34,640 Speaker 1: Adam Useerri Sandar Pishai, and Sam Altman, who was adopted 256 00:14:34,640 --> 00:14:38,000 Speaker 1: by the management consultant types. It's a testament to how 257 00:14:38,080 --> 00:14:41,320 Speaker 1: obvious that they're desperate for the next big thing is, 258 00:14:41,400 --> 00:14:44,400 Speaker 1: and how big their failure is to actually adapt to 259 00:14:44,480 --> 00:14:48,760 Speaker 1: customer needs, or how incapable they are of building useful 260 00:14:48,800 --> 00:14:53,160 Speaker 1: things management consultancy people and Sundar and share all by 261 00:14:53,200 --> 00:14:55,720 Speaker 1: the way, they both came from McKinsey, one of the 262 00:14:55,720 --> 00:14:59,600 Speaker 1: worst companies around. They're not built to innovate, they're built 263 00:14:59,640 --> 00:15:04,440 Speaker 1: to grow. Oh, they're built to create business cancer. Now 264 00:15:04,520 --> 00:15:06,960 Speaker 1: you might say that's horrible. But at the same time, 265 00:15:07,160 --> 00:15:10,160 Speaker 1: do you think Facebook's useful? Do you think Google Search 266 00:15:10,200 --> 00:15:13,360 Speaker 1: has got better? Or do you think that management consultancy 267 00:15:13,400 --> 00:15:15,520 Speaker 1: people have seen it and gone number must go up, 268 00:15:15,600 --> 00:15:17,680 Speaker 1: number must go up forever because if number go up, 269 00:15:17,760 --> 00:15:21,000 Speaker 1: money go up, money go up. Good. I know I'm 270 00:15:21,040 --> 00:15:25,200 Speaker 1: being somewhat facetious, but really, look at the tech industry 271 00:15:25,320 --> 00:15:29,240 Speaker 1: right now. Look at it and tell me that this 272 00:15:29,280 --> 00:15:31,840 Speaker 1: is an industry going well, that this is an industry 273 00:15:31,880 --> 00:15:35,840 Speaker 1: building the future. No, right now, the tech industry feels 274 00:15:35,920 --> 00:15:39,960 Speaker 1: like a management consultancy people trying to do PowerPoint presentations 275 00:15:39,960 --> 00:15:42,200 Speaker 1: to customers to say this is going to change your 276 00:15:42,240 --> 00:15:46,320 Speaker 1: life without actually showing them how it will in the product, 277 00:15:46,800 --> 00:15:48,640 Speaker 1: and in the case of Microsoft lying in their Super 278 00:15:48,640 --> 00:15:51,800 Speaker 1: Bowl commercial, or in the case of Samulman and Open 279 00:15:51,840 --> 00:15:55,640 Speaker 1: Eye lying all the time. I mean tons of liars 280 00:15:55,680 --> 00:15:58,040 Speaker 1: at the top of most of capitalism. But really, the 281 00:15:58,080 --> 00:16:01,360 Speaker 1: tech industry is just full of them. But I think 282 00:16:01,440 --> 00:16:04,000 Speaker 1: generative AI is quite special. And what makes it so 283 00:16:04,120 --> 00:16:06,840 Speaker 1: special is it kind of has the hint of utility, 284 00:16:07,080 --> 00:16:09,720 Speaker 1: the scent of a product, and as a result, it 285 00:16:09,760 --> 00:16:12,440 Speaker 1: can be sold to the markets. Is the next big boom, 286 00:16:12,840 --> 00:16:15,480 Speaker 1: the next big thing that justifies hundreds of billions of 287 00:16:15,480 --> 00:16:19,120 Speaker 1: dollars of investment and increased market caps, even if it 288 00:16:19,200 --> 00:16:23,920 Speaker 1: doesn't really do something. Every single company chasing the generative 289 00:16:23,960 --> 00:16:27,880 Speaker 1: AI dragon is hoping that it's the next Amazon Web Services, which, 290 00:16:27,920 --> 00:16:30,760 Speaker 1: as I mentioned, is the ubiquitous cloud product that went 291 00:16:30,800 --> 00:16:33,960 Speaker 1: from a side project of Amazon Store to actually something 292 00:16:34,000 --> 00:16:37,560 Speaker 1: that makes more than it and today it underpins most 293 00:16:37,600 --> 00:16:39,800 Speaker 1: of the Internet. And you want to know why AWS 294 00:16:39,840 --> 00:16:42,920 Speaker 1: does that, It's because it's useful. It's because it actually 295 00:16:42,960 --> 00:16:45,840 Speaker 1: does something. It's actually a thing that has utility. You 296 00:16:45,840 --> 00:16:48,160 Speaker 1: don't need to explain why someone needs a website on 297 00:16:48,200 --> 00:16:50,880 Speaker 1: the Internet, or why they need services to do the 298 00:16:50,920 --> 00:16:53,240 Speaker 1: compute to run an application that runs in the cloud. 299 00:16:53,440 --> 00:16:58,360 Speaker 1: That's pretty bloody obvious. And that's the problem with GENERATIFAI, 300 00:16:58,520 --> 00:17:00,360 Speaker 1: and that's the problem with a lot of things you 301 00:17:00,400 --> 00:17:03,320 Speaker 1: see in the tech industry. Nobody really seems to be 302 00:17:03,320 --> 00:17:06,960 Speaker 1: able to explain why or how generative AI is the 303 00:17:06,960 --> 00:17:12,240 Speaker 1: next big thing, just that it is Chat, GPT, Gemini, Claude, 304 00:17:12,280 --> 00:17:14,679 Speaker 1: all of these large language models. They can do some 305 00:17:14,760 --> 00:17:17,719 Speaker 1: things that are superficially cool. They can generate images, they 306 00:17:17,760 --> 00:17:21,520 Speaker 1: can quickly query databases, albeit with no guarantee they won't 307 00:17:21,560 --> 00:17:23,920 Speaker 1: hallucinate and make up something that isn't true and tell 308 00:17:23,960 --> 00:17:27,360 Speaker 1: you it is. And they can craft poetry. But there's 309 00:17:27,400 --> 00:17:29,720 Speaker 1: no real endearing reason to pick one of them up 310 00:17:29,760 --> 00:17:33,439 Speaker 1: every day and use them. These use cases that they enable. 311 00:17:33,720 --> 00:17:37,720 Speaker 1: They're not really exciting or ubiquitous or world changing. They're 312 00:17:37,720 --> 00:17:40,639 Speaker 1: not anything like what the tech executives are actually selling us. 313 00:17:40,640 --> 00:17:43,479 Speaker 1: And the problem might not be that they're useless, but 314 00:17:43,520 --> 00:17:47,320 Speaker 1: that as a piece of technology, generative AI just isn't 315 00:17:47,359 --> 00:17:50,879 Speaker 1: a hypergrowth market or much of an industry changer, no 316 00:17:50,960 --> 00:17:54,760 Speaker 1: matter how much money you shove into it. Sam Lman 317 00:17:54,920 --> 00:17:57,440 Speaker 1: is not asking Microsoft for a one hundred billion dollars 318 00:17:57,440 --> 00:18:00,800 Speaker 1: supercomputer because generative AI is going to get better. He's 319 00:18:00,800 --> 00:18:03,199 Speaker 1: doing it because what we have today is not a 320 00:18:03,240 --> 00:18:07,000 Speaker 1: world changing product. It's not the boondoggle that the tech 321 00:18:07,000 --> 00:18:09,639 Speaker 1: industry needs it to be, and his only prospect of 322 00:18:09,680 --> 00:18:13,760 Speaker 1: fulfilling these promises is basically a tech industry equivalent of 323 00:18:13,800 --> 00:18:18,240 Speaker 1: the Marshall Plan. Yet without generative AI, what do these 324 00:18:18,240 --> 00:18:22,199 Speaker 1: companies have left? What is the next big thing? For 325 00:18:22,280 --> 00:18:24,320 Speaker 1: the best part of fifteen years, we've assumed that the 326 00:18:24,359 --> 00:18:27,320 Speaker 1: tech industry would always have something up their sleeves. But 327 00:18:27,359 --> 00:18:30,200 Speaker 1: what's becoming apparent is that they might have actually run 328 00:18:30,240 --> 00:18:33,120 Speaker 1: out of ideas. They don't have any big, sexy things 329 00:18:33,119 --> 00:18:36,640 Speaker 1: to sell us. And the disruption that has become associated 330 00:18:36,680 --> 00:18:41,240 Speaker 1: with tech was predicated on there being new markets for 331 00:18:41,320 --> 00:18:44,560 Speaker 1: them to disrupt and ideas in their hands that they 332 00:18:44,560 --> 00:18:47,520 Speaker 1: could actually use to do so. And a paper from 333 00:18:47,640 --> 00:18:49,800 Speaker 1: last year from Nature that kind of worried me too 334 00:18:50,000 --> 00:18:53,080 Speaker 1: positive that the pace of disruptive research is actually slowing, 335 00:18:53,359 --> 00:18:55,680 Speaker 1: And I believe the same thing is actually happening in tech, 336 00:18:55,720 --> 00:18:59,400 Speaker 1: except we're conflating innovation and finding new markets to add 337 00:18:59,440 --> 00:19:01,439 Speaker 1: software and hard where to and we've been doing so 338 00:19:01,560 --> 00:19:05,560 Speaker 1: for twenty years, and the net result of this is 339 00:19:05,600 --> 00:19:09,760 Speaker 1: a kind of innovation stagnation and the rock economy and 340 00:19:09,800 --> 00:19:12,960 Speaker 1: the rock com bubble. A tech industry laser focused on 341 00:19:13,040 --> 00:19:17,280 Speaker 1: finding markets to disrupt rather than actually disrupting anything. Rather 342 00:19:17,320 --> 00:19:20,800 Speaker 1: than actually meeting anyone's needs. Where the biggest venture capital 343 00:19:20,840 --> 00:19:23,920 Speaker 1: investments go into companies that can sell for massive multiples 344 00:19:23,960 --> 00:19:27,840 Speaker 1: rather than sustainable, stable businesses or things that might truly 345 00:19:27,920 --> 00:19:32,159 Speaker 1: change the world. Venture capital is not investing in moonshots. 346 00:19:32,240 --> 00:19:35,200 Speaker 1: They're not putting money into the future. They're putting money 347 00:19:35,240 --> 00:19:38,560 Speaker 1: into the goddamn present. And there are exceptions. I like 348 00:19:38,640 --> 00:19:41,719 Speaker 1: a lot of seed stage investors because they're actually taking 349 00:19:41,800 --> 00:19:45,240 Speaker 1: risks on real companies that are doing new things. However, 350 00:19:45,280 --> 00:19:47,480 Speaker 1: the largest VC firms need to get their heads out 351 00:19:47,520 --> 00:19:51,600 Speaker 1: their asses and actually invest in the future. But really, 352 00:19:52,280 --> 00:19:55,000 Speaker 1: what's so stupid about this is of all these big 353 00:19:55,040 --> 00:19:57,760 Speaker 1: tech companies, before they really mess with their products, they 354 00:19:57,800 --> 00:20:02,560 Speaker 1: were good, sustainable, insane, li profitable businesses. There's no reason 355 00:20:02,600 --> 00:20:05,600 Speaker 1: that Google or Meta or Amazon couldn't build businesses that 356 00:20:05,640 --> 00:20:10,640 Speaker 1: have flat, sustainable growth and really respectable, reliable profitability. They 357 00:20:10,720 --> 00:20:13,399 Speaker 1: just choose not to impart because the markets will punish it, 358 00:20:13,560 --> 00:20:15,680 Speaker 1: and partly because their DNA has been poisoned by the 359 00:20:15,720 --> 00:20:18,720 Speaker 1: rot economy and the demands of the rot economy are 360 00:20:18,800 --> 00:20:24,720 Speaker 1: very simple, more always more. I also think that the 361 00:20:24,760 --> 00:20:28,120 Speaker 1: tech industry, both the venture capitalists funding it and those 362 00:20:28,200 --> 00:20:31,240 Speaker 1: running big tech firms. They've been dominated by people who 363 00:20:31,240 --> 00:20:35,040 Speaker 1: don't build things. The people running VC firms, the people 364 00:20:35,440 --> 00:20:40,080 Speaker 1: running Google, Facebook, and all these Wow. Mark Zuckerberg, I 365 00:20:40,080 --> 00:20:41,680 Speaker 1: guess was a code but he's not doing it anymore. 366 00:20:42,680 --> 00:20:46,720 Speaker 1: They're not actually building products, and they're not coder's even 367 00:20:46,720 --> 00:20:50,479 Speaker 1: Sam Morton's not an engineer. The future isn't being built 368 00:20:50,680 --> 00:20:53,760 Speaker 1: by the people saying what the future is. The future 369 00:20:53,840 --> 00:20:57,080 Speaker 1: is being built by people under the thumb of management 370 00:20:57,119 --> 00:21:01,359 Speaker 1: consultant brains. And I know, oh, I know, I'm being 371 00:21:01,400 --> 00:21:05,800 Speaker 1: a little facetious again, but really, these people aren't speaking 372 00:21:05,800 --> 00:21:08,119 Speaker 1: to people with real products. They're not looking at the 373 00:21:08,200 --> 00:21:10,960 Speaker 1: human condition and saying, let's make this better for money. Now, 374 00:21:11,000 --> 00:21:12,679 Speaker 1: they're saying, how do we drain more blood from the 375 00:21:12,720 --> 00:21:16,640 Speaker 1: consumer until they give up on our website? Well, guess what, asshole? 376 00:21:16,840 --> 00:21:20,200 Speaker 1: They are giving up on it. But this problem, it's 377 00:21:20,200 --> 00:21:23,320 Speaker 1: poisoning the startup industry as well, leaving big tech for 378 00:21:23,359 --> 00:21:27,000 Speaker 1: a second. So, the Rabbit R one and the Humane Pin, 379 00:21:27,119 --> 00:21:29,040 Speaker 1: I'm not sure if you've seen them. The rabbit r 380 00:21:29,080 --> 00:21:31,800 Speaker 1: one is this two hundred dollar orange brick with a 381 00:21:31,880 --> 00:21:34,320 Speaker 1: screen that claimed when you got it that you could 382 00:21:34,359 --> 00:21:36,359 Speaker 1: talk to it and it'd run these apps and it 383 00:21:36,400 --> 00:21:38,399 Speaker 1: cost two hundred dollars, by the way, and the Human 384 00:21:38,480 --> 00:21:41,000 Speaker 1: Pin is this AI powered pin that costs seven hundred 385 00:21:41,040 --> 00:21:44,960 Speaker 1: dollars and it has a little infrared screen that goes 386 00:21:45,000 --> 00:21:46,680 Speaker 1: in your hand except when you use it too much 387 00:21:46,800 --> 00:21:49,560 Speaker 1: of heats anyway, Now that like giving you back. Kind 388 00:21:49,600 --> 00:21:52,160 Speaker 1: of the backstory there. Both of these companies they raised 389 00:21:52,240 --> 00:21:56,199 Speaker 1: incredible sums of capital based on these vague ideas. You know, 390 00:21:56,240 --> 00:21:59,159 Speaker 1: that people felt overwhelmed by their smartphones, or that they 391 00:21:59,600 --> 00:22:02,320 Speaker 1: don't not connected with the real world, things that sound 392 00:22:02,440 --> 00:22:06,520 Speaker 1: nice to investors who don't experience speaking to people. And 393 00:22:06,560 --> 00:22:10,040 Speaker 1: they raised all this money hunt over two hundred billion 394 00:22:10,080 --> 00:22:13,560 Speaker 1: dollars between my believe, to build products that range from 395 00:22:13,960 --> 00:22:17,760 Speaker 1: extremely bad to potentially fraudulent, and they failed to build 396 00:22:17,800 --> 00:22:21,160 Speaker 1: products that anybody actually needed. What they did build were 397 00:22:21,440 --> 00:22:24,880 Speaker 1: very expensive things that answered questions nobody had and solve 398 00:22:24,960 --> 00:22:29,160 Speaker 1: problems that nobody had very poorly. And I'm not sure 399 00:22:29,160 --> 00:22:33,399 Speaker 1: if it was ignorance, ambivalence, or just pure evil, but anyway, 400 00:22:33,400 --> 00:22:36,000 Speaker 1: if I'm honest, these startups, they're only a symptom of 401 00:22:36,040 --> 00:22:38,639 Speaker 1: the rock on bubble. The investors are disconnected from the 402 00:22:38,640 --> 00:22:41,239 Speaker 1: process of building things, and they're funding ideas that they 403 00:22:41,240 --> 00:22:43,560 Speaker 1: don't understand in the hopes that the people building them 404 00:22:43,600 --> 00:22:46,320 Speaker 1: aren't full of shit, and they're not even doing the 405 00:22:46,359 --> 00:22:49,720 Speaker 1: necessary due diligence because clearly the people funding these companies 406 00:22:49,760 --> 00:22:52,760 Speaker 1: don't know enough about tech to actually see whether these 407 00:22:52,760 --> 00:22:56,800 Speaker 1: things are possible. Remember Saguoya, one of the largest venture 408 00:22:56,800 --> 00:22:59,400 Speaker 1: capital firms, put a lot of money into FTX. Again, 409 00:22:59,440 --> 00:23:02,000 Speaker 1: the crypto currency thing that was a big scam. There 410 00:23:02,040 --> 00:23:06,040 Speaker 1: are ways of looking beyond the spreadsheet or the power point. 411 00:23:06,080 --> 00:23:07,959 Speaker 1: You know, you can ask more questions and if they 412 00:23:07,960 --> 00:23:10,320 Speaker 1: don't give you a give you an answer, that's good. 413 00:23:10,760 --> 00:23:12,840 Speaker 1: I just feel a little crazy when I think about 414 00:23:12,840 --> 00:23:14,560 Speaker 1: tech from the last few years. There's just been so 415 00:23:14,720 --> 00:23:18,800 Speaker 1: much wasted money. There are people out there who were 416 00:23:18,880 --> 00:23:21,840 Speaker 1: just raising tens or hundreds of millions of dollars for nothing. 417 00:23:22,359 --> 00:23:25,080 Speaker 1: And I'm going to say something a little bit controversial, 418 00:23:25,080 --> 00:23:27,520 Speaker 1: but who can blame them. I think they're scum. I 419 00:23:27,560 --> 00:23:29,880 Speaker 1: think they're con artists. I think they should give back 420 00:23:29,880 --> 00:23:31,520 Speaker 1: the money to their customers, and they should give back 421 00:23:31,560 --> 00:23:34,440 Speaker 1: the money to investors. But really, what do you expect 422 00:23:34,440 --> 00:23:36,440 Speaker 1: when the industry is engineered to capture what the next 423 00:23:36,480 --> 00:23:39,800 Speaker 1: big thing is when it isn't defined by utility or necessity, 424 00:23:39,800 --> 00:23:42,720 Speaker 1: but rather how big a market it can grow into. 425 00:23:42,880 --> 00:23:45,560 Speaker 1: Why wouldn't you try and capture that demand. Why would 426 00:23:45,600 --> 00:23:48,320 Speaker 1: you make a real company when venu money is going 427 00:23:48,359 --> 00:23:50,880 Speaker 1: into fake companies again and again for years and years 428 00:23:50,880 --> 00:23:54,680 Speaker 1: and years and years. Why do you think people don't 429 00:23:54,720 --> 00:23:57,560 Speaker 1: want to make startups. People are making startups, by the way, 430 00:23:57,560 --> 00:24:00,639 Speaker 1: it's still happening. But why would they be incentivized to 431 00:24:00,640 --> 00:24:03,280 Speaker 1: try something new when they know that venture capitalists are 432 00:24:03,320 --> 00:24:07,920 Speaker 1: funding stupid, bloody ideas that sound good on paper. It's 433 00:24:08,000 --> 00:24:11,400 Speaker 1: so frustrating, and it frustrates me working with startups every 434 00:24:11,480 --> 00:24:14,680 Speaker 1: day here in real ideas which actually exist, and they'll 435 00:24:14,760 --> 00:24:17,240 Speaker 1: raise modest rounds, they won't raise one hundred million dollars 436 00:24:17,240 --> 00:24:19,919 Speaker 1: because the people giving away one hundred million dollars are 437 00:24:19,920 --> 00:24:21,600 Speaker 1: giving it to people who have the next big thing 438 00:24:21,640 --> 00:24:25,360 Speaker 1: idea and then burning the money anyway. It's just it's 439 00:24:25,400 --> 00:24:28,720 Speaker 1: so insane, Like look at the rabbit r one. So 440 00:24:28,760 --> 00:24:31,639 Speaker 1: the rabbit are one is it's a little orange box. 441 00:24:31,960 --> 00:24:34,480 Speaker 1: When you ask it to order uber it breaks most 442 00:24:34,480 --> 00:24:36,040 Speaker 1: of the time. It does not work. It claims it 443 00:24:36,119 --> 00:24:38,919 Speaker 1: as a large action model that controls your apps on 444 00:24:38,960 --> 00:24:41,400 Speaker 1: a server. It doesn't really work. The whole thing feels 445 00:24:41,920 --> 00:24:43,880 Speaker 1: like a sham. There's a Coffee Ziller video I really 446 00:24:43,960 --> 00:24:46,720 Speaker 1: encourage you to watch. But the big thing is is 447 00:24:46,760 --> 00:24:49,199 Speaker 1: that what Jesselu, the CEO of Rabbit, has done is 448 00:24:49,200 --> 00:24:51,520 Speaker 1: he's over promised what this device could do. He said 449 00:24:51,560 --> 00:24:54,240 Speaker 1: it can control your apps with your voice, and it 450 00:24:54,280 --> 00:24:56,240 Speaker 1: can only kind of do that, and he's raised a 451 00:24:56,240 --> 00:24:59,040 Speaker 1: bunch of money as a result of these I don't 452 00:24:59,040 --> 00:25:02,480 Speaker 1: know if you call them live half truths, scams, I 453 00:25:02,520 --> 00:25:05,240 Speaker 1: don't know. That's up to you to choose. But nevertheless, 454 00:25:05,359 --> 00:25:08,240 Speaker 1: what Jesse Lou has done is as well as previously 455 00:25:08,280 --> 00:25:10,639 Speaker 1: run an NFT company, which is the same entity that 456 00:25:10,680 --> 00:25:13,920 Speaker 1: made the Rabbit. Jesse Lou has stated that AI can 457 00:25:13,960 --> 00:25:17,719 Speaker 1: do more than it can, that his device is actually 458 00:25:17,760 --> 00:25:21,200 Speaker 1: capable of doing things that might one day be possible 459 00:25:21,200 --> 00:25:24,240 Speaker 1: but really might not be based on the existing technology. 460 00:25:25,200 --> 00:25:28,720 Speaker 1: If we're honest, what's the difference between Rabbit CEO Jesse 461 00:25:28,800 --> 00:25:32,520 Speaker 1: Lou and open Ai CEO sam Orltman. They both went 462 00:25:32,520 --> 00:25:35,440 Speaker 1: through y Combinator, which is a tech incubator in the Bay, 463 00:25:35,880 --> 00:25:37,840 Speaker 1: and both of them have sold products that don't do 464 00:25:37,920 --> 00:25:39,639 Speaker 1: what they say based on what it might do in 465 00:25:39,680 --> 00:25:42,600 Speaker 1: the future. I can't work out the difference other than 466 00:25:42,640 --> 00:25:45,240 Speaker 1: the amount of money they've raised. Both of them lied, 467 00:25:46,040 --> 00:25:48,639 Speaker 1: both of them haven't delivered the products they say. I 468 00:25:48,640 --> 00:25:50,520 Speaker 1: think the only difference, as far as I can see, 469 00:25:50,520 --> 00:25:52,440 Speaker 1: is that Sam Ortman was better at playing the game. 470 00:25:53,600 --> 00:25:56,760 Speaker 1: I'm no, no, really though, Really sit with me for 471 00:25:56,800 --> 00:26:00,440 Speaker 1: a second. Jesse Lou absolutely misled his customers about the capabilities, 472 00:26:00,480 --> 00:26:03,480 Speaker 1: what the R one could do, and the company's previous operations. 473 00:26:03,960 --> 00:26:07,920 Speaker 1: But Sam Altman as shamelessly over hyped generative AI almost 474 00:26:07,920 --> 00:26:11,440 Speaker 1: every day for years. Senior members of Sam Moltman's first 475 00:26:11,480 --> 00:26:14,240 Speaker 1: startup Looped tried to get him fired twice for what 476 00:26:14,320 --> 00:26:17,760 Speaker 1: they described as a deceptive and chaotic behavior pattern. He 477 00:26:17,880 --> 00:26:21,320 Speaker 1: was fired from y Combinator for an absenteeism that rankled 478 00:26:21,359 --> 00:26:24,640 Speaker 1: his peers and some of the startups he was supposed 479 00:26:24,680 --> 00:26:28,720 Speaker 1: to nurture, and former Open Ai board member Helen Toner 480 00:26:29,000 --> 00:26:32,080 Speaker 1: told the ted Ai Show that Altman was so deceitful 481 00:26:32,280 --> 00:26:34,600 Speaker 1: that the board found out about the launch of chat GPT, 482 00:26:34,720 --> 00:26:37,920 Speaker 1: which by the way, is the definitional generative AI product, 483 00:26:38,400 --> 00:26:41,960 Speaker 1: when they saw it was posted on Twitter. Toner also 484 00:26:42,200 --> 00:26:45,960 Speaker 1: admitted that Sam Moortmon was caught outright lying on multiple occasions, 485 00:26:46,000 --> 00:26:49,359 Speaker 1: and the two executives provided evidence of psychological abuse and 486 00:26:49,440 --> 00:26:54,160 Speaker 1: lying and manipulative behavior on multiple occasions. If anything, Sam 487 00:26:54,160 --> 00:26:58,159 Speaker 1: Altman's much worse than jesselew All while lacking much of 488 00:26:58,160 --> 00:27:02,119 Speaker 1: a technical background at all. He is the archetypal rockcom CEO, 489 00:27:02,400 --> 00:27:06,160 Speaker 1: an unqualified lobbyist pretending to be a technologist and abusing 490 00:27:06,200 --> 00:27:09,320 Speaker 1: anyone he needs to in the pursuit of growth. Sam 491 00:27:09,359 --> 00:27:11,840 Speaker 1: Moltman is the opposite of what the tech industry needs. 492 00:27:12,040 --> 00:27:14,119 Speaker 1: He is not building real things. He is selling you 493 00:27:14,200 --> 00:27:17,720 Speaker 1: a dream that doesn't exist. And when this bubble bursts, 494 00:27:18,359 --> 00:27:21,480 Speaker 1: people like him will escape. They'll be fine because he's 495 00:27:21,520 --> 00:27:36,679 Speaker 1: already rich. Nothing I'm saying is meant to suggest that 496 00:27:36,720 --> 00:27:39,240 Speaker 1: they can't be successful tech companies. Although there won't be 497 00:27:39,280 --> 00:27:41,600 Speaker 1: any more innovation, I just think there's going to be 498 00:27:41,680 --> 00:27:44,280 Speaker 1: less of it, and on a much smaller scale, and 499 00:27:44,320 --> 00:27:47,200 Speaker 1: I don't think we should fear it. The tech industry 500 00:27:47,240 --> 00:27:49,400 Speaker 1: can no longer rely on the idea that every year 501 00:27:49,480 --> 00:27:52,280 Speaker 1: or every couple of years, somebody will find an idea 502 00:27:52,359 --> 00:27:55,399 Speaker 1: that will create two thousand more startups or trillions of 503 00:27:55,440 --> 00:28:00,359 Speaker 1: dollars in market cap. Tech must reconfigure both venture capital 504 00:28:00,400 --> 00:28:03,879 Speaker 1: investment and public tech companies to a sustainable, profitable, and 505 00:28:03,960 --> 00:28:07,880 Speaker 1: useful model where get this, existing products are made better 506 00:28:07,920 --> 00:28:10,919 Speaker 1: and more profitable with the understanding that we're approaching the 507 00:28:10,960 --> 00:28:13,680 Speaker 1: maximum amount of people who are going to be online, 508 00:28:14,640 --> 00:28:16,840 Speaker 1: and that these products cannot be built with the assumption 509 00:28:16,920 --> 00:28:20,720 Speaker 1: that more and more users will always exist. I'm sure 510 00:28:20,760 --> 00:28:23,280 Speaker 1: some of you might say I'm wrong and that text 511 00:28:23,400 --> 00:28:26,280 Speaker 1: hypergrowth era isn't over, and that GENERATIVEAI it's going to 512 00:28:26,359 --> 00:28:31,280 Speaker 1: usher in this glorious new future of powerful assistance. But seriously, 513 00:28:31,359 --> 00:28:34,040 Speaker 1: what does that look like? What happens next? Where does 514 00:28:34,119 --> 00:28:37,800 Speaker 1: GENERATIVEAI go from here? Do they fix the problems? How 515 00:28:37,800 --> 00:28:40,280 Speaker 1: do they make it cheaper or more efficient? How do 516 00:28:40,320 --> 00:28:45,440 Speaker 1: they eliminate hallucinations? When Google themselves can't, when Facebook can't, 517 00:28:45,600 --> 00:28:47,960 Speaker 1: When none of these big companies can fix the biggest 518 00:28:48,000 --> 00:28:51,400 Speaker 1: problem that all of them know about. How will open 519 00:28:51,440 --> 00:28:55,560 Speaker 1: AI train GPT five their next model. They need four 520 00:28:55,600 --> 00:28:58,239 Speaker 1: to five times the amount of data that they have 521 00:28:58,480 --> 00:29:01,440 Speaker 1: right now, which already require them to do masses of 522 00:29:01,480 --> 00:29:05,400 Speaker 1: plagiarism to make GPT five happen. How are they going 523 00:29:05,480 --> 00:29:09,320 Speaker 1: to do that? Hey, another question, just why have you 524 00:29:09,760 --> 00:29:12,400 Speaker 1: has Google, Meta or Microsoft? If any of these companies 525 00:29:12,440 --> 00:29:16,760 Speaker 1: found a way to make generative AI profitable? Yeah, when 526 00:29:16,800 --> 00:29:19,960 Speaker 1: will they do so? How long do they have? How 527 00:29:20,000 --> 00:29:24,320 Speaker 1: long until the market sours? Salesforce just had their first 528 00:29:24,360 --> 00:29:27,000 Speaker 1: revenue miss since two thousand and six, partially based on 529 00:29:27,040 --> 00:29:29,360 Speaker 1: the fact that Mark Bennioff, the bullshitter in chief who 530 00:29:29,400 --> 00:29:31,760 Speaker 1: constantly talks about AI and has done so for years, 531 00:29:32,120 --> 00:29:33,840 Speaker 1: it turns out he didn't make any money from it, 532 00:29:34,080 --> 00:29:38,080 Speaker 1: and people are kind of upset and seriously though, putting 533 00:29:38,120 --> 00:29:41,920 Speaker 1: all that aside, when does generative AI prove itself useful? 534 00:29:42,560 --> 00:29:45,959 Speaker 1: Where's the big moment? Where's the iPhone moment? Is it 535 00:29:46,000 --> 00:29:49,200 Speaker 1: this autocorrect thing? Is it this thing that can write 536 00:29:49,240 --> 00:29:53,600 Speaker 1: poetry or generate pictures of the Joker as president? Where 537 00:29:53,640 --> 00:29:57,480 Speaker 1: is this big moment? I'm afraid the answer is kind 538 00:29:57,480 --> 00:30:01,640 Speaker 1: of simple. It isn't coming. Generative AI is not going 539 00:30:01,680 --> 00:30:04,120 Speaker 1: to change the world. And while AI itself kind of 540 00:30:04,120 --> 00:30:06,240 Speaker 1: already has and it definitely will do so more in 541 00:30:06,240 --> 00:30:08,720 Speaker 1: the future, it isn't going to with generative AI, and 542 00:30:08,760 --> 00:30:10,280 Speaker 1: it isn't going to do so in the hands of 543 00:30:10,360 --> 00:30:13,360 Speaker 1: Sam Altman in Open AI. I don't even think Anthropic 544 00:30:13,480 --> 00:30:16,080 Speaker 1: is going to do it either. When the bubble bursts 545 00:30:16,640 --> 00:30:18,800 Speaker 1: these firms, they're probably going to be absorbed into the 546 00:30:18,800 --> 00:30:21,200 Speaker 1: massive tech companies that have put billions of dollars into 547 00:30:21,200 --> 00:30:24,320 Speaker 1: them already in exactly the same way that Microsoft just 548 00:30:24,400 --> 00:30:29,000 Speaker 1: absorbed Inflection, And they'll do this to quietly hide the 549 00:30:29,000 --> 00:30:31,840 Speaker 1: shameful failure. And they'll be able to, by the way, 550 00:30:31,880 --> 00:30:34,960 Speaker 1: repurpose all of the cloud compute investments they've made. There 551 00:30:34,960 --> 00:30:37,560 Speaker 1: are other places for that compute to go. They have, 552 00:30:37,720 --> 00:30:40,080 Speaker 1: they make billions off of cloud. They'll work it out. 553 00:30:40,800 --> 00:30:44,120 Speaker 1: But in the end, if all of this falls apart, 554 00:30:44,600 --> 00:30:47,840 Speaker 1: if the rock com bubble bursts, if the hypergrowth period 555 00:30:47,880 --> 00:30:50,520 Speaker 1: is over, I actually think it's better for the tech 556 00:30:50,560 --> 00:30:53,800 Speaker 1: industry to have a better world, one with more interesting 557 00:30:53,840 --> 00:30:56,840 Speaker 1: things and where society doesn't constantly feel at odds with 558 00:30:56,880 --> 00:31:00,440 Speaker 1: the tech industry. Tech companies need to share this growth addiction. 559 00:31:00,520 --> 00:31:02,880 Speaker 1: They need to get off the horse, and I believe 560 00:31:02,880 --> 00:31:04,800 Speaker 1: that we forced to do so. Whether they like it 561 00:31:04,920 --> 00:31:08,160 Speaker 1: or not. There's still going to be many, many, many 562 00:31:08,320 --> 00:31:11,320 Speaker 1: hundred million or even billion dollar companies. There's just not 563 00:31:11,360 --> 00:31:14,000 Speaker 1: going to be that many hundred billion or trillion dollar ones. 564 00:31:16,080 --> 00:31:19,840 Speaker 1: I realize I come off as negative as at times 565 00:31:19,960 --> 00:31:23,160 Speaker 1: I know I do. And as I've said multiple times 566 00:31:23,200 --> 00:31:26,280 Speaker 1: and I'll say again, I'm a broken hearted romantic. I 567 00:31:26,360 --> 00:31:28,720 Speaker 1: want a better tech industry. I love the companies I 568 00:31:28,800 --> 00:31:30,520 Speaker 1: work with. I love the companies I've worked with. I 569 00:31:31,320 --> 00:31:33,640 Speaker 1: love the tech I use. I think that tonal that 570 00:31:33,760 --> 00:31:36,360 Speaker 1: it's a workout machine, one of the best pieces of tech. Ever, 571 00:31:37,240 --> 00:31:40,280 Speaker 1: It's changed my life, as iPhones have, as computers have, 572 00:31:40,320 --> 00:31:43,720 Speaker 1: as many things have. I want there to be these exciting, interesting, 573 00:31:43,800 --> 00:31:47,360 Speaker 1: actually innovative and useful products that change my life and 574 00:31:47,440 --> 00:31:50,400 Speaker 1: your life and other people's lives are the better. Any 575 00:31:50,520 --> 00:31:54,200 Speaker 1: anger or frustration you hear in my voice is directed 576 00:31:54,240 --> 00:31:57,239 Speaker 1: toward the people that have diverted the massive sources of 577 00:31:57,240 --> 00:32:00,600 Speaker 1: innovation that come from having masses of money and talent 578 00:32:00,840 --> 00:32:05,200 Speaker 1: away from building useful things towards finding new vessels for hypergrowth. 579 00:32:06,480 --> 00:32:08,640 Speaker 1: And the same goes for the venture capitalists that seem 580 00:32:08,680 --> 00:32:12,000 Speaker 1: incapable of backing actually new or interesting things. They just 581 00:32:12,040 --> 00:32:14,600 Speaker 1: double down on new trends that everybody else is following, 582 00:32:14,680 --> 00:32:17,600 Speaker 1: rather than putting money into young, hungry founders that are 583 00:32:17,600 --> 00:32:20,400 Speaker 1: trying to build real things. A better tech industry is 584 00:32:20,440 --> 00:32:23,120 Speaker 1: one that puts more money into earlier stage companies doing 585 00:32:23,160 --> 00:32:26,720 Speaker 1: new things in better ways or completely new ways, rather 586 00:32:26,800 --> 00:32:29,480 Speaker 1: than all following the same trends and doubling or tripling 587 00:32:29,480 --> 00:32:32,480 Speaker 1: down on the same guys doing the same things. It's 588 00:32:32,560 --> 00:32:37,520 Speaker 1: also goddamn boring and useless and wasteful. I love tech. 589 00:32:37,920 --> 00:32:41,040 Speaker 1: I find tech amazingly useful. I'm using it right now. 590 00:32:41,200 --> 00:32:42,680 Speaker 1: I would be a liar if I said I didn't 591 00:32:42,680 --> 00:32:44,960 Speaker 1: love the tech industry and I didn't love the tech 592 00:32:45,040 --> 00:32:46,720 Speaker 1: that I use. And I feel like many of you 593 00:32:46,800 --> 00:32:48,600 Speaker 1: might feel the same way. Maybe you don't, not putting 594 00:32:48,600 --> 00:32:51,760 Speaker 1: words in your mouth, but the problem is that it's 595 00:32:51,800 --> 00:32:56,680 Speaker 1: getting less useful, it's getting less magical. It isn't magical anymore. Generally, 596 00:32:56,680 --> 00:32:58,720 Speaker 1: if AI isn't magical, we're being told it is, and 597 00:32:58,800 --> 00:33:00,920 Speaker 1: it isn't. I wish that I was doing all these 598 00:33:00,960 --> 00:33:03,560 Speaker 1: crazy things. I wish it didn't have to steal from everyone, 599 00:33:03,600 --> 00:33:06,600 Speaker 1: and I wish that, quite frankly, any of the people 600 00:33:06,640 --> 00:33:08,840 Speaker 1: building these big AI companies seem to want to build 601 00:33:08,920 --> 00:33:12,880 Speaker 1: cool or interesting things, and I just feel that if 602 00:33:12,920 --> 00:33:15,480 Speaker 1: they actually built useful things, things could change things would 603 00:33:15,480 --> 00:33:18,960 Speaker 1: be better, and tech can be both an incredibly profitable 604 00:33:19,000 --> 00:33:22,560 Speaker 1: industry and a vessel for building better, more interesting things 605 00:33:22,560 --> 00:33:25,560 Speaker 1: and a better, more interesting future. What's holding it back 606 00:33:25,600 --> 00:33:29,280 Speaker 1: are people with management consultancy brain and all they can 607 00:33:29,320 --> 00:33:32,120 Speaker 1: do is find and dominate new markets at all costs, 608 00:33:32,320 --> 00:33:34,880 Speaker 1: and they fly in the face of innovation and invention 609 00:33:35,040 --> 00:33:38,560 Speaker 1: and creativity when they do so. People like Mark Zuckerberg, 610 00:33:38,680 --> 00:33:41,800 Speaker 1: Sam Moltman, Sundar Pishai and Satchina Dalla and Mark Andrews 611 00:33:41,880 --> 00:33:45,040 Speaker 1: and too are not interested in any future other than 612 00:33:45,040 --> 00:33:47,360 Speaker 1: the one that they own, and have turned their companies 613 00:33:47,440 --> 00:33:50,800 Speaker 1: and the companies they invest in into management consultancy firms 614 00:33:50,840 --> 00:33:54,480 Speaker 1: that happen to sell technology. The solution is a more 615 00:33:54,520 --> 00:33:57,720 Speaker 1: decentralized and I do not mean crypto tech industry. A 616 00:33:57,800 --> 00:34:01,200 Speaker 1: decentralized tech industry, one where VC dollars flow into smaller, 617 00:34:01,240 --> 00:34:04,200 Speaker 1: earlier stage companies, where the source of what's next isn't 618 00:34:04,240 --> 00:34:06,880 Speaker 1: three or four large companies, but a thousand little ones 619 00:34:06,880 --> 00:34:09,359 Speaker 1: that have actually taken a risk to build something. New 620 00:34:10,360 --> 00:34:13,920 Speaker 1: tech companies will be funded that don't succeed. It's happening already, 621 00:34:13,960 --> 00:34:17,480 Speaker 1: It's been happening forever, but those failures should at least 622 00:34:17,840 --> 00:34:23,040 Speaker 1: be trying to build something new and interesting. It doesn't 623 00:34:23,080 --> 00:34:25,720 Speaker 1: have to be world changing. It can change the lives 624 00:34:25,719 --> 00:34:28,759 Speaker 1: of people that run servers. It can be something that 625 00:34:28,840 --> 00:34:31,120 Speaker 1: changes the lives of people trying to get fit. There 626 00:34:31,120 --> 00:34:35,080 Speaker 1: are many industries that can be fixed or improved or grown. 627 00:34:35,360 --> 00:34:37,480 Speaker 1: But they might not be worth one hundred billion dollars. 628 00:34:37,640 --> 00:34:41,480 Speaker 1: That still makes them valuable. It still makes them worthwhile, 629 00:34:42,000 --> 00:34:45,120 Speaker 1: just not to the arseholes in charge. Silicon Valley can 630 00:34:45,160 --> 00:34:47,319 Speaker 1: be better by giving the keys back to the people 631 00:34:47,360 --> 00:34:50,680 Speaker 1: who actually build things and actually solving problems that real 632 00:34:50,880 --> 00:34:54,520 Speaker 1: human beings face. And I also believe that the tech industry, 633 00:34:54,560 --> 00:34:57,600 Speaker 1: and especially Silicon Valley needs to start talking to regular 634 00:34:57,600 --> 00:35:02,759 Speaker 1: goddamn people again. Bubble and I know I've mentioned multiples. 635 00:35:02,960 --> 00:35:05,359 Speaker 1: The rock com bubble itself is a problem, but also 636 00:35:05,400 --> 00:35:08,440 Speaker 1: the bubble of Silicon Valley, of the venture capitalists and 637 00:35:08,480 --> 00:35:10,719 Speaker 1: a lot of the big tech companies is one that 638 00:35:10,840 --> 00:35:14,680 Speaker 1: is never penetrated by regular people with regular problems. That 639 00:35:14,719 --> 00:35:18,320 Speaker 1: needs to change. Talk to some regular bloody people fix 640 00:35:18,400 --> 00:35:22,200 Speaker 1: their problems. Focus on fixing the problems of the billions 641 00:35:22,200 --> 00:35:24,880 Speaker 1: of people before you assume that those billions of people 642 00:35:25,000 --> 00:35:29,400 Speaker 1: will become your goddamn users. The tech industry needs to 643 00:35:29,440 --> 00:35:34,480 Speaker 1: realign around sustainability, profitability, and building useful things for real people. 644 00:35:34,800 --> 00:35:37,840 Speaker 1: And until that happens, billions of dollars will be plowed 645 00:35:37,840 --> 00:35:41,080 Speaker 1: into building hardware and software to inflate the rock com bubble, 646 00:35:41,280 --> 00:35:43,040 Speaker 1: to keep the rock economy going, and the hopes that 647 00:35:43,080 --> 00:35:46,239 Speaker 1: the growth of all cost party will never end. And 648 00:35:46,320 --> 00:35:48,640 Speaker 1: I really do not think that anyone in tech is 649 00:35:48,680 --> 00:35:51,600 Speaker 1: ready for it to end. I think when this bubble pops, 650 00:35:51,760 --> 00:35:54,440 Speaker 1: it's going to take out maybe slowly, maybe it's a 651 00:35:54,440 --> 00:35:57,800 Speaker 1: slow bleed one of the big tech firms. What's happening 652 00:35:57,800 --> 00:36:02,239 Speaker 1: with Google today with AIS search is a travesty. It 653 00:36:02,320 --> 00:36:05,759 Speaker 1: is a goddamn disgrace. Sondhar Pashai and Liz Read should 654 00:36:05,800 --> 00:36:09,480 Speaker 1: be ashamed of themselves. They should tender their resignations. To 655 00:36:09,600 --> 00:36:13,520 Speaker 1: turn Google Search into an AI powered slot machine that 656 00:36:13,680 --> 00:36:17,080 Speaker 1: may or may not give you useful information. That is disgusting. 657 00:36:17,239 --> 00:36:21,120 Speaker 1: It's a societal loss. What's been done to Facebook is 658 00:36:21,160 --> 00:36:24,040 Speaker 1: a disgrace. As I said in the two Facebook episodes, 659 00:36:24,120 --> 00:36:28,080 Speaker 1: Facebook is barely functional. It's spreading pornography and misinformation. It's 660 00:36:28,160 --> 00:36:32,319 Speaker 1: hurting people, it's helping people get scammed. It's not connecting anyone. 661 00:36:32,360 --> 00:36:36,480 Speaker 1: These are tangibly worse products. Amazon's so full of nonsense 662 00:36:36,640 --> 00:36:39,640 Speaker 1: the reviews. Almost every review seems fake. And now it's 663 00:36:39,640 --> 00:36:42,720 Speaker 1: got generative AI summaries that don't make any sense. Every 664 00:36:42,760 --> 00:36:45,759 Speaker 1: product's getting worse. And what I want to say, And 665 00:36:45,840 --> 00:36:49,200 Speaker 1: it's kind of big headed to assume that Sandhar Pashai 666 00:36:49,280 --> 00:36:51,560 Speaker 1: or Jeff Bezos or Mark Zuckerberg would ever hear this. 667 00:36:51,640 --> 00:36:54,399 Speaker 1: But if they do, your party will end one day. 668 00:36:54,880 --> 00:36:57,960 Speaker 1: And when it does, you won't have any talent or 669 00:36:57,960 --> 00:37:01,440 Speaker 1: innovation to lay back on you. I've demonized your customers 670 00:37:01,440 --> 00:37:05,200 Speaker 1: and treated them with contempt. Also that you can please 671 00:37:05,239 --> 00:37:08,920 Speaker 1: faceless people in Wall Street. When the rot com bubble bursts, 672 00:37:09,120 --> 00:37:11,600 Speaker 1: you will be humiliated. You will still be so rich, 673 00:37:12,520 --> 00:37:15,799 Speaker 1: but your legacy will be one of failure. All that 674 00:37:16,040 --> 00:37:20,680 Speaker 1: money that you extracted, all that value you took, will 675 00:37:20,719 --> 00:37:25,680 Speaker 1: be just for you. You will have ruined products that 676 00:37:25,760 --> 00:37:30,000 Speaker 1: were formative for people's lives. You will be known for that, 677 00:37:30,600 --> 00:37:34,279 Speaker 1: not for innovation, not for being a genius, not for 678 00:37:34,360 --> 00:37:38,680 Speaker 1: being remarkable, but for being remarkable in the amount of 679 00:37:38,760 --> 00:37:44,400 Speaker 1: damage you did to the tech industry. Sheryl Samberg, Mark Zuckerberg, 680 00:37:44,760 --> 00:37:50,000 Speaker 1: Sam Altman, You're all the same management consultancy brain, unable 681 00:37:50,080 --> 00:37:53,080 Speaker 1: to create real value for real people, and it's perhaps 682 00:37:53,120 --> 00:37:57,279 Speaker 1: because you don't talk to them. I realize I've kind 683 00:37:57,320 --> 00:37:59,920 Speaker 1: of diverted from the podcast. I'm yelling at people who 684 00:38:00,120 --> 00:38:03,319 Speaker 1: may never hear. But this frustration in my voice has 685 00:38:03,480 --> 00:38:07,319 Speaker 1: nothing to do with engineered rage. This is nothing to 686 00:38:07,400 --> 00:38:11,520 Speaker 1: do with the podcast or even getting more downloads or 687 00:38:11,520 --> 00:38:14,800 Speaker 1: anything like that. This is because tech change my life. 688 00:38:15,320 --> 00:38:17,960 Speaker 1: It changed so many people's lives. It's the reason that 689 00:38:18,000 --> 00:38:20,240 Speaker 1: I'm able to keep talking to my family in England, 690 00:38:20,560 --> 00:38:23,640 Speaker 1: that I not having many friends in Las Vegas, can 691 00:38:23,719 --> 00:38:28,719 Speaker 1: have rich, meaningful friendships throughout the world. The reason that 692 00:38:28,760 --> 00:38:31,359 Speaker 1: I'm able to is because people were able to find 693 00:38:31,400 --> 00:38:36,080 Speaker 1: a balance between profit and actual innovation and actually creating things. 694 00:38:37,320 --> 00:38:40,080 Speaker 1: But the people in charge in tech have lost their way. 695 00:38:40,560 --> 00:38:43,919 Speaker 1: They have lost their way from creating meaningful things, from 696 00:38:43,960 --> 00:38:47,440 Speaker 1: making meaningful decisions that help people. Now, all they want 697 00:38:47,480 --> 00:38:50,160 Speaker 1: to do is make changes that make their companies look 698 00:38:50,239 --> 00:38:53,200 Speaker 1: like they can grow forever. And when that bubble pomps, 699 00:38:54,040 --> 00:38:57,439 Speaker 1: I hope they're humiliated, and I hope they're kicked out, 700 00:38:57,640 --> 00:39:00,560 Speaker 1: but they probably won't be Mark Zuckerberg can't even be fired. 701 00:39:01,239 --> 00:39:04,399 Speaker 1: This is the injustice of tech right now. This is 702 00:39:04,560 --> 00:39:09,640 Speaker 1: the disgraceful state of the rock com boom. My anger 703 00:39:09,760 --> 00:39:13,520 Speaker 1: inside me is that things can be better, that tech 704 00:39:13,600 --> 00:39:17,640 Speaker 1: can do great things. But the people with the money, 705 00:39:18,280 --> 00:39:21,880 Speaker 1: the people directing the money and the compute, the people 706 00:39:21,920 --> 00:39:24,240 Speaker 1: making the hires, the people that have hired the greatest 707 00:39:24,280 --> 00:39:28,120 Speaker 1: minds in tech who should get paid well by directing 708 00:39:28,160 --> 00:39:33,360 Speaker 1: them toward making stuff for Wall Street. And until that changes, 709 00:39:33,800 --> 00:39:36,719 Speaker 1: I'm still going to feel like this. I'm not here 710 00:39:36,760 --> 00:39:38,600 Speaker 1: to tell you how to feel. I'm just telling you 711 00:39:38,640 --> 00:39:42,480 Speaker 1: how I feel, and I promise you every episode of 712 00:39:42,520 --> 00:39:45,920 Speaker 1: this show is about trying to give you transparency into 713 00:39:45,960 --> 00:39:49,400 Speaker 1: the system and the things it creates, to try and 714 00:39:49,520 --> 00:39:52,840 Speaker 1: answer why so much of the stuff we see today 715 00:39:53,080 --> 00:39:55,959 Speaker 1: doesn't seem to be for us, and doesn't even seem 716 00:39:56,000 --> 00:40:01,920 Speaker 1: to be for a use case. It's frustrating, nauseating. I 717 00:40:01,960 --> 00:40:05,000 Speaker 1: don't like it being like this. I wish I had 718 00:40:05,040 --> 00:40:07,840 Speaker 1: more good news. I wish there was something cool I 719 00:40:07,840 --> 00:40:11,920 Speaker 1: could talk about from one of these companies. Sit Gmail 720 00:40:11,960 --> 00:40:15,040 Speaker 1: changed my life. Gmail was fantastic. These companies are fully 721 00:40:15,040 --> 00:40:18,399 Speaker 1: capable of making great things and even a deadbeat piece 722 00:40:18,400 --> 00:40:21,280 Speaker 1: of shit. Steve Jobs is still beloved by history because 723 00:40:21,320 --> 00:40:24,440 Speaker 1: he actually ushered in good things, even though it was 724 00:40:24,480 --> 00:40:27,600 Speaker 1: mostly him getting other people to do it. But no 725 00:40:27,840 --> 00:40:31,319 Speaker 1: tech doesn't seem to care at least big tech. I 726 00:40:31,360 --> 00:40:34,520 Speaker 1: want to see change. I want to see things being better. 727 00:40:34,600 --> 00:40:37,600 Speaker 1: I just I want tech to be fun and exciting 728 00:40:37,640 --> 00:40:41,359 Speaker 1: and interesting and innovative. Again, I think you do too. 729 00:40:42,360 --> 00:40:52,320 Speaker 1: Thanks so much for listening. Thank you for listening to 730 00:40:52,360 --> 00:40:55,320 Speaker 1: Better Offline. The editor and composer of the Better Offline 731 00:40:55,360 --> 00:40:58,040 Speaker 1: theme song is Metasowski. You can check out more of 732 00:40:58,040 --> 00:41:01,759 Speaker 1: his music and audio projects Selski dot com, M A 733 00:41:01,920 --> 00:41:06,520 Speaker 1: T T O s O W s Ki dot com. 734 00:41:06,560 --> 00:41:08,839 Speaker 1: You can email me at easy at Better offline dot 735 00:41:08,880 --> 00:41:11,120 Speaker 1: com or visit Better offline dot com to find more 736 00:41:11,160 --> 00:41:14,520 Speaker 1: podcast links and of course, my newsletter. I also really 737 00:41:14,560 --> 00:41:16,839 Speaker 1: recommend you go to chat dot where's youreaed dot at 738 00:41:16,840 --> 00:41:19,320 Speaker 1: to visit the discord, and go to our slash Better 739 00:41:19,320 --> 00:41:22,480 Speaker 1: Offline to check out our reddit. Thank you so much 740 00:41:22,520 --> 00:41:26,320 Speaker 1: for listening. Better Offline is a production of cool Zone Media. 741 00:41:26,520 --> 00:41:29,359 Speaker 1: For more from cool Zone Media, visit our website cool 742 00:41:29,400 --> 00:41:32,759 Speaker 1: Zonemedia dot com or check us out on the iHeartRadio, app, 743 00:41:32,800 --> 00:41:35,520 Speaker 1: Apple Podcasts, or wherever you get your podcasts.