WEBVTT - Week in Tech: Run, Robot, Run!

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<v Speaker 1>Welcome to Tech Stuff, a production of iHeart Podcasts and Kaleidoscope.

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<v Speaker 1>I'm mas Valoshan and today Karra Price and I will

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<v Speaker 1>bring you the headlines this week, including the race of

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<v Speaker 1>the humanoid robots. Then on tech Support, we'll talk to

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<v Speaker 1>Jeff Rosenthal about the role of private investment in building

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<v Speaker 1>out energy infrastructure in the US to meet the AI boom.

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<v Speaker 2>I would argue that this is one of the spaces

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<v Speaker 2>that you just see the future manifest regularly, like the

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<v Speaker 2>impossible become passible.

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<v Speaker 1>All of that. On the weekend Tech It's Friday, April

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<v Speaker 1>twenty fifth. Hello, Hello Cara.

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<v Speaker 3>Hi as well.

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<v Speaker 1>Since we last saw each other, A big important holiday happened,

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<v Speaker 1>which was Easter. And did you see how it celebrated

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<v Speaker 1>at the White.

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<v Speaker 4>I did, And I can't say that I know many

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<v Speaker 4>people who still roll eggs around with wooden spoons, but

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<v Speaker 4>the White House likes its traditions.

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<v Speaker 1>Yeah. There was also the human sized bunny who ended

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<v Speaker 1>up next to President Trump on the podium, who.

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<v Speaker 4>Looked a lot like Peter Rabbit, but suspiciously with a

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<v Speaker 4>different colored jacket.

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<v Speaker 1>This was, in fact Peter the Rabbit, who's been subtly

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<v Speaker 1>renamed and restyled face exactly. He has not to infringe

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<v Speaker 1>on Beatrix Potter's copyright. This wasn't the only slightly weird

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<v Speaker 1>sight to behold at the celebration. There were also sponsorships

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<v Speaker 1>and branding from the big tech companies. Meta had its

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<v Speaker 1>own tent on the White House lawn, complete with an

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<v Speaker 1>AI powered photo op. YouTube had a bunny hop stage,

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<v Speaker 1>and a reading nook was provided by Amazon, complete with

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<v Speaker 1>a couch and some colorful flowers with the Amazon logo

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<v Speaker 1>in pride of place. This was all on the lawn

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<v Speaker 1>of the White House at an event traditionally sponsored by

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<v Speaker 1>American egg Board.

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<v Speaker 4>I should have done this for my butt, mitzpah. Actually,

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<v Speaker 4>just have different tech companies cover different tables.

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<v Speaker 1>Well, future bamans for readers of the Arch of the

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<v Speaker 1>Deal will no doubt be able to defray the costs

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<v Speaker 1>in years to come.

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<v Speaker 4>Absolutely, you know, nothing says easter to mean quite like

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<v Speaker 4>a pink and blue sign with the words expand your

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<v Speaker 4>World with Meta AI on it, which is just so

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<v Speaker 4>funny to me because Meta execs past and present are

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<v Speaker 4>literally testifying right down the street as this is going on.

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<v Speaker 1>I know, I mean, it's surely incredible. What's what's going

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<v Speaker 1>on Washington right now? On the one hand, you have

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<v Speaker 1>Easter at the White House with all of these corporate

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<v Speaker 1>sponsors from the tech industry, and on the other hand,

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<v Speaker 1>you have the government's lawyers arguing to break up Google

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<v Speaker 1>Meta on trial. It's this, you know, rather delicious seeming

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<v Speaker 1>irony that you can't buy friendship, at least not from

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<v Speaker 1>President Trump.

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<v Speaker 4>But you can buy a couch at an Easter party exactly,

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<v Speaker 4>You know what I mean? You know, it does make

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<v Speaker 4>me wonder where this trend will go. I can sort

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<v Speaker 4>of imagine a huge tent around Thanksgiving saying the annual

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<v Speaker 4>pardoning of the Thanksgiving Turkey sponsored by TikTok.

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<v Speaker 1>Speaking of strange and slightly jarring tech encroachment, I've got

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<v Speaker 1>a headline to start us off. The Wall Street Journal

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<v Speaker 1>reports that a recent half marathon race in Beijing had

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<v Speaker 1>some unusual participants humanoid robots. This thirteen mile race featured

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<v Speaker 1>thousands of humans and twenty one robots running. There's a

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<v Speaker 1>chance for China to show off its progress in humanoid robotics.

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<v Speaker 1>You can check out the video online. It's pretty deep

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<v Speaker 1>in the Young Canny Valley to see robots jogging alongside humans.

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<v Speaker 4>This is my favorite kind of story, I think because

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<v Speaker 4>of the uncanny valleyness of it, and also because there

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<v Speaker 4>was It wasn't perfect, let's just put it that way.

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<v Speaker 1>We'll get to some of the winners and losers.

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<v Speaker 4>We'll talk about that. But you know, China is really

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<v Speaker 4>leaning into humanoid robotics. They've said they want to be

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<v Speaker 4>the leader by twenty twenty seven, which I don't know

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<v Speaker 4>about you, but that's close to when I turned forty,

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<v Speaker 4>not far away.

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<v Speaker 1>As you mentioned, the race did show this still quite

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<v Speaker 1>a lot room for improvement when it comes to these humanoids.

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<v Speaker 1>They had to have a staggered start to the race,

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<v Speaker 1>literally so they wouldn't run into each other. There were

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<v Speaker 1>pauses between the robots starting. They were also in their

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<v Speaker 1>own lane, the HOV lane of the half marathon in Beijing.

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<v Speaker 4>There's so much about this that I love. But my

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<v Speaker 4>favorite part is that some of these robots were wearing accessories.

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<v Speaker 4>You know, some had like running shoes, tank tops, you know,

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<v Speaker 4>they have those little like bicycle hat and to me,

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<v Speaker 4>they all kind of look like guys in Fort Green

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<v Speaker 4>who are trying to like bag women on hinge.

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<v Speaker 1>Those weren't the only upgrades to the robots. They went

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<v Speaker 1>beyond low ups In some cases, the developers had to

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<v Speaker 1>modify the robots for the race so that plastic components

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<v Speaker 1>wouldn't break off while they were running, and actually recast

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<v Speaker 1>and replace those parts with metal. They also given longer legs,

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<v Speaker 1>something I would love to.

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<v Speaker 4>Have, which you know, to me, this is a sign

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<v Speaker 4>that humans are still superior. These robots trained for months

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<v Speaker 4>so they could navigate both the flat and hilly parts

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<v Speaker 4>of the course and also take six left turns and

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<v Speaker 4>eight right turns, something fortunately I still don't have to

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<v Speaker 4>practice for.

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<v Speaker 1>And I think the majority of these robots were actually

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<v Speaker 1>remote controlled. But a big issue was stamina. That doesn't

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<v Speaker 1>mean they need to take water, break or catch their

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<v Speaker 1>breath like we do, but these robots are breat on

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<v Speaker 1>batteries which need to be recharged every two hours, and

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<v Speaker 1>the race was what over three hours long, so at

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<v Speaker 1>different points in the race, the robots were stopped because

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<v Speaker 1>they ran out of power and had to swap batteries

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<v Speaker 1>in order to keep going, which.

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<v Speaker 4>Is just like a pit stop at a NASCAR race.

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<v Speaker 4>Let me just clarify when you say a group of

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<v Speaker 4>humanoid robots. Listeners might think this is a robot army,

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<v Speaker 4>you know, it's like very Star Wars, where they all

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<v Speaker 4>look the same and run at an identical pace. But

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<v Speaker 4>that was not what happened here. It was a melee.

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<v Speaker 1>Have you seen Have you seen when dog walkers are

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<v Speaker 1>in Central Park and you have every type of dog

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<v Speaker 1>from big to small, from crazy to calm.

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<v Speaker 3>That's how we lose people.

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<v Speaker 1>That this was that of robots. It was a melee

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<v Speaker 1>of different shape, different size, different herky jerky robots. I

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<v Speaker 1>think in some sense, you know, there was a competition

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<v Speaker 1>amongst the robot manufacturers. Some fared better than others on

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<v Speaker 1>one and you have the front runner, Chian Kung Ultra,

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<v Speaker 1>who stood at five foot nine and only fell over

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<v Speaker 1>once when it's battery failed. It did change his battery

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<v Speaker 1>three times, but Tien ran at about six miles an

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<v Speaker 1>hour across different terrains including hills, stairs, grass and sand.

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<v Speaker 1>Others weren't so lucky. One humanoid with propellers went off course,

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<v Speaker 1>slammed into a fence and broke into pieces. It sounds comedic,

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<v Speaker 1>it was actually kind of scary. Things. Two hundred pound

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<v Speaker 1>metallic humanoid charge its way into a crowd of people,

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<v Speaker 1>how to tell you, some were barely able to walk,

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<v Speaker 1>much less run. One humanoid robot named Juan Juan actually

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<v Speaker 1>went in the wrong direction for a little bit before

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<v Speaker 1>sitting down and refusing to go further, which was like

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<v Speaker 1>me at sports day as a child. Yes, in you two.

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<v Speaker 3>I think I was going to say we are all.

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<v Speaker 1>One on this podcast where we are one.

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<v Speaker 3>Sure, it's very relatable.

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<v Speaker 4>And while Tian Kung Ultra was the first humanoid to

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<v Speaker 4>cross the finish line after about two hours and forty minutes,

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<v Speaker 4>a human runner finished the race over an hour and

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<v Speaker 4>a half before that, So only two humanoids cross the

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<v Speaker 4>finish line within the race's original cutoff time, which cut

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<v Speaker 4>extended to four hours and ten minutes because most of

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<v Speaker 4>them just simply weren't going to make it. If I

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<v Speaker 4>was running a marathon, this would also happen.

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<v Speaker 1>By the way, it's funny to laugh at the missteps

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<v Speaker 1>of these robots. But remember how when we were first

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<v Speaker 1>playing around with Gennety of Ai. You know, it was

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<v Speaker 1>impressive that it could write anything at all, but the

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<v Speaker 1>writing was completely unserviceable. So, you know, I think that

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<v Speaker 1>we're seeing what we may be seeing here as a

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<v Speaker 1>kind of leading edge of in fact and explosion in

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<v Speaker 1>humanoid robots because these robots are intertwined deeply with the

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<v Speaker 1>development of AI. Robots have different parts, but you could

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<v Speaker 1>say that the brain is the AI which allows the

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<v Speaker 1>robots to learn from patterns and mimic human behavior in

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<v Speaker 1>real time. And according to analysts at Goldman Sachs, Deep

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<v Speaker 1>seeks are one model may have changed the game for

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<v Speaker 1>Chinese robotic companies because now top level AI performance is

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<v Speaker 1>possible with fewer advanced ships and less computing power, which

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<v Speaker 1>makes it easier to distribute across a society.

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<v Speaker 4>So is it safe to say that this race was

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<v Speaker 4>less between humans and robots, which it clearly was not,

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<v Speaker 4>and more between the US and China.

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<v Speaker 1>Well, Cara, that's why they pay the big bugs. I agree.

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<v Speaker 1>I agree. There is a strong national pride element to

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<v Speaker 1>the Chinese robotics sector and seemingly a desire to integrate

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<v Speaker 1>robots into more and more human activities such as this marathon.

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<v Speaker 1>There's also some interesting robot human dance self videos that

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<v Speaker 1>you can find online.

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<v Speaker 3>I've seen them.

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<v Speaker 1>They're well worth checking out. Moving on to another story

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<v Speaker 1>that could be straight out of a sci fi novel,

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<v Speaker 1>but unfortunately is not in partnership with Wired magazine. Four

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<v Speaker 1>or four Media reported on a tool that some police

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<v Speaker 1>departments near the Southern border are paying quite a bit

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<v Speaker 1>of money to use. The product is called Overwatch, as

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<v Speaker 1>in the shoot them Up video game, naturally, and it

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<v Speaker 1>comes from a company called Massive Blue.

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<v Speaker 3>Only boys can name this.

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<v Speaker 4>I'm sorry, I'm not saying women can't, but it sounds

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<v Speaker 4>like something that only boys can name.

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<v Speaker 1>I'm with you on this, not unfortunately. Overwatch is marketed

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<v Speaker 1>as a product that quote deploys lifelike virtual agents which

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<v Speaker 1>infiltrate and engage criminal networks across various channels. Basically, Massive

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<v Speaker 1>Blue is offering cops virtual personas that can be unleashed

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<v Speaker 1>on the Internet and used to interact with quote college protesters, quote,

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<v Speaker 1>radicalized political activists, and suspected drug and human traffickers over

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<v Speaker 1>text messages and social media.

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<v Speaker 4>And one such example of an Overwatch AI persona is Heidi,

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<v Speaker 4>and Massive Blue described her in a presentation to the

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<v Speaker 4>Texas Department of Public Safety as quote a radicalized AI persona.

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<v Speaker 4>Here's her backstory? You ready, yeah, ready, Oh my god,

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<v Speaker 4>it's me. She's a thirty six year old, Oh my god, childless,

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<v Speaker 4>divorced woman who lives in Texas. But this is when

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<v Speaker 4>she got radicalized. She was raised in San Francisco.

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<v Speaker 1>Oh my god.

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<v Speaker 4>Her hobbies are activism and baking, and her personality is

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<v Speaker 4>quote outspoken, lonely, and body positive. This is the greatest

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<v Speaker 4>thing I've ever heard in my entire life.

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<v Speaker 1>This is summoned from the nightmares of JD events.

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<v Speaker 4>Literally, like the these are the threats to American society.

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<v Speaker 4>A body positive child woman.

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<v Speaker 1>Body positive, lonely, outspits.

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<v Speaker 4>By the way, she's going to get five thousand if

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<v Speaker 4>Heidi keeps up with this body positive, childless behavior. The

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<v Speaker 4>Trump administration might give her five thousand dollars to have

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<v Speaker 4>a child.

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<v Speaker 1>So maybe the unintended consequence of a legion of Heidi's

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<v Speaker 1>roaming the internet will be bankrupting the American American government

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<v Speaker 1>taking advantage of the credits to have children exactly. This

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<v Speaker 1>is obviously a truly weird story, but the purpose of

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<v Speaker 1>personas like Heidi is to interact with and of course,

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<v Speaker 1>perhaps we might say in trap real suspects on social media.

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<v Speaker 1>The idea is by looking to these potential suspects, Heidi

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<v Speaker 1>and other AI personas can gather evidence on them to

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<v Speaker 1>be used by police departments. Sorry, I shouldn't be lovey.

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<v Speaker 1>I mean it's bizarre.

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<v Speaker 4>It's the most bizarre thing. Also that like these are

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<v Speaker 4>the threats to American civilization. Like to your point, like

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<v Speaker 4>an AI cat, we don't even know if she has

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<v Speaker 4>a cat, because her cat could be a bigger threat.

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<v Speaker 4>But that she's outspoken and body positive is what's so

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<v Speaker 4>crazy to me. I do need to point out that

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<v Speaker 4>it is legal to protest in the United States, so

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<v Speaker 4>it's a bit odd that one of the types of

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<v Speaker 4>AI personas is a college protester. But the idea of

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<v Speaker 4>law enforcement using fake personas to catch suspects isn't new.

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<v Speaker 4>Officers have made profiles claiming to be teenagers to gather

0:11:43.920 --> 0:11:45.880
<v Speaker 4>information on child predators.

0:11:46.320 --> 0:11:49.040
<v Speaker 1>Now, this is like if you turned to catch your

0:11:49.040 --> 0:11:52.720
<v Speaker 1>predator into an AI and then turned that AI into

0:11:52.720 --> 0:11:54.720
<v Speaker 1>a product and then sold it to police departments.

0:11:54.760 --> 0:11:56.839
<v Speaker 3>That's exactly that's exactly right.

0:11:57.000 --> 0:11:59.719
<v Speaker 1>Using this software instead of having to log on and

0:11:59.720 --> 0:12:02.680
<v Speaker 1>make a fake profile message of suspect back and forth

0:12:02.840 --> 0:12:04.480
<v Speaker 1>and hope they don't catch on to what you're doing,

0:12:04.920 --> 0:12:07.360
<v Speaker 1>Overwatch does a lot of that work for you so.

0:12:07.520 --> 0:12:09.960
<v Speaker 1>Another of watched profile the police departments can use is

0:12:10.160 --> 0:12:15.240
<v Speaker 1>child trafficking AI persona, also known as Jason. Jason is

0:12:15.240 --> 0:12:17.880
<v Speaker 1>fourteen years old, likes video games, and has a hard

0:12:17.880 --> 0:12:19.120
<v Speaker 1>time interacting with girls.

0:12:19.160 --> 0:12:20.720
<v Speaker 3>He's an insult or just a normal.

0:12:20.559 --> 0:12:22.480
<v Speaker 1>Fourteen year old boy. To be fair to him, I

0:12:22.520 --> 0:12:24.400
<v Speaker 1>wasn't such a big video gamer, but I certainly had

0:12:24.400 --> 0:12:28.520
<v Speaker 1>those other two characteristics. In the presentation obtained by four

0:12:28.640 --> 0:12:30.960
<v Speaker 1>or for Media, there is a screenshot of a sample

0:12:31.000 --> 0:12:34.679
<v Speaker 1>text exchange between Jason and someone who is presumably a

0:12:34.679 --> 0:12:39.240
<v Speaker 1>predatory adult, asking these alone, Jason replies to the message, quote,

0:12:39.760 --> 0:12:43.280
<v Speaker 1>just chillin by myself. Man. My mom's at at Symbol

0:12:43.600 --> 0:12:46.880
<v Speaker 1>work and my dad's out of town, so it's just

0:12:47.000 --> 0:12:50.199
<v Speaker 1>me and my VID games video game controller emoji.

0:12:50.480 --> 0:12:52.360
<v Speaker 4>I would have already been under a dictionary. I wouldn't

0:12:52.360 --> 0:12:54.680
<v Speaker 4>even be able to talk to this. You know, we're

0:12:54.720 --> 0:12:57.319
<v Speaker 4>not clear if this is a real exchange. We do

0:12:57.440 --> 0:12:59.920
<v Speaker 4>know that Massive Blues signed a three hundred and six

0:13:00.160 --> 0:13:04.160
<v Speaker 4>d thousand dollars contract with Panal County in Arizona, and

0:13:04.200 --> 0:13:07.320
<v Speaker 4>the county use an anti human trafficking grant to pay

0:13:07.360 --> 0:13:10.600
<v Speaker 4>for this exchange. The Panal County Sheriff's office did tell

0:13:10.640 --> 0:13:13.360
<v Speaker 4>four A four media that Overwatch has so far not

0:13:13.400 --> 0:13:14.680
<v Speaker 4>been used for any arrests.

0:13:14.760 --> 0:13:16.400
<v Speaker 3>It is used for a lot of laughs.

0:13:17.080 --> 0:13:19.200
<v Speaker 1>Yeah, I'm curious if the fact it hasn't been used

0:13:19.200 --> 0:13:21.280
<v Speaker 1>for any arrests it's considered to be a good thing

0:13:21.400 --> 0:13:22.080
<v Speaker 1>or a bad thing.

0:13:22.200 --> 0:13:24.120
<v Speaker 3>That's what I was going to say. Yeah, exactly.

0:13:24.320 --> 0:13:26.719
<v Speaker 1>So, Karen, while we're on the topic of what kind

0:13:26.760 --> 0:13:30.280
<v Speaker 1>of information can we gathered about people online, You've got

0:13:30.320 --> 0:13:32.920
<v Speaker 1>a headline for us about removing yourself from the Internet.

0:13:33.240 --> 0:13:33.440
<v Speaker 3>Yeah.

0:13:33.440 --> 0:13:35.720
<v Speaker 4>So the Wall Street Journal ran an article with the headline,

0:13:36.000 --> 0:13:38.920
<v Speaker 4>go delete yourself from the Internet, and it talks about

0:13:38.920 --> 0:13:42.480
<v Speaker 4>how Google recently updated its results about You feature and

0:13:42.520 --> 0:13:45.800
<v Speaker 4>you can plug in details like your name, various email addresses,

0:13:45.840 --> 0:13:49.080
<v Speaker 4>phone numbers, or street addresses, and Google will literally show

0:13:49.080 --> 0:13:51.120
<v Speaker 4>you what kind of things about you or out there

0:13:51.160 --> 0:13:51.760
<v Speaker 4>on the internet.

0:13:52.120 --> 0:13:53.760
<v Speaker 1>Yeah. I looked at this and I was like, him

0:13:53.880 --> 0:13:55.880
<v Speaker 1>is basically asking me for all of my personal data

0:13:55.920 --> 0:13:58.080
<v Speaker 1>to run a search on what personal data exists on

0:13:58.080 --> 0:14:00.720
<v Speaker 1>the Internet. So, of course I I did it anyway,

0:14:00.920 --> 0:14:03.360
<v Speaker 1>And indeed, I think this is this is less about

0:14:03.400 --> 0:14:05.840
<v Speaker 1>a kind of cursory Google search and more of them

0:14:05.880 --> 0:14:09.280
<v Speaker 1>doing like a deep web search to reveal what exists

0:14:09.320 --> 0:14:10.600
<v Speaker 1>about you online? Is that true?

0:14:10.800 --> 0:14:12.920
<v Speaker 4>Yes, it's things like where you live, if you've ever

0:14:12.920 --> 0:14:16.560
<v Speaker 4>gotten a speeding ticket, magazine subscriptions, which is very risky

0:14:16.600 --> 0:14:18.920
<v Speaker 4>for me. And these little bits of data can add

0:14:19.000 --> 0:14:21.560
<v Speaker 4>up to a pretty substantial amount of information about you

0:14:21.800 --> 0:14:23.960
<v Speaker 4>that's just floating around. You know, it can expose you

0:14:23.960 --> 0:14:28.120
<v Speaker 4>to annoyances like getting more junk mail or scarier situations

0:14:28.160 --> 0:14:32.040
<v Speaker 4>like identity theft or doxing or receiving unwonted flowers.

0:14:32.520 --> 0:14:34.480
<v Speaker 1>Has that ever happened to you? I can't talk about

0:14:34.520 --> 0:14:38.440
<v Speaker 1>it and not to mention. Data brokers scrape this stuff,

0:14:38.520 --> 0:14:40.920
<v Speaker 1>package it and then sell it on as a dossier.

0:14:41.240 --> 0:14:44.040
<v Speaker 1>We're talking about very personal stuff here, like license plate

0:14:44.120 --> 0:14:47.280
<v Speaker 1>numbers of your vehicles, list of your family members, and

0:14:47.320 --> 0:14:49.360
<v Speaker 1>the dossiers are getting more and more detailed as time

0:14:49.400 --> 0:14:51.760
<v Speaker 1>goes on and more data becomes available. Yes.

0:14:51.800 --> 0:14:53.920
<v Speaker 4>So just to be clear, like Google's results about you

0:14:54.040 --> 0:14:58.160
<v Speaker 4>only provides information, there's a separate request process for removing

0:14:58.200 --> 0:15:00.840
<v Speaker 4>things from search results, and there are are also other

0:15:00.920 --> 0:15:04.520
<v Speaker 4>services you can pay for to proactively remove personal data

0:15:04.520 --> 0:15:05.400
<v Speaker 4>from the Internet.

0:15:05.680 --> 0:15:08.040
<v Speaker 1>One thing I can't stop thinking about is that deleting

0:15:08.080 --> 0:15:10.120
<v Speaker 1>yourself from the Internet is not something you can do

0:15:10.200 --> 0:15:12.040
<v Speaker 1>once and then it's done forever. I mean, it's like

0:15:12.080 --> 0:15:13.520
<v Speaker 1>a never ending task.

0:15:13.640 --> 0:15:16.000
<v Speaker 4>It is a never ending story, and it's ongoing for

0:15:16.040 --> 0:15:18.400
<v Speaker 4>a couple of reasons. First, you know, if you don't

0:15:18.400 --> 0:15:21.120
<v Speaker 4>live in a state with data privacy laws like California

0:15:21.160 --> 0:15:24.360
<v Speaker 4>that require, for example, people search sites to take down

0:15:24.400 --> 0:15:28.480
<v Speaker 4>your data upon request, that information might just stay up there.

0:15:28.880 --> 0:15:32.560
<v Speaker 4>And second, data that's been taken down can reappear. And

0:15:33.120 --> 0:15:35.840
<v Speaker 4>I think this is an unfortunate part of being in

0:15:35.880 --> 0:15:38.240
<v Speaker 4>the modern world, is that like your data can just

0:15:38.280 --> 0:15:38.920
<v Speaker 4>be out there.

0:15:39.120 --> 0:15:40.680
<v Speaker 1>I mean, I feel bad for people who live in

0:15:40.720 --> 0:15:45.080
<v Speaker 1>states where mugshot databases automatically uploaded to the Internet. I mean,

0:15:45.120 --> 0:15:48.200
<v Speaker 1>I find that so deeply unfair that you're kind of

0:15:48.240 --> 0:15:51.760
<v Speaker 1>haunted by your mugshot forever. Even if you know Sheriff's

0:15:51.760 --> 0:15:54.200
<v Speaker 1>department takes it down subsequently, it will never never leave

0:15:54.240 --> 0:15:57.280
<v Speaker 1>the Internet. Also, it's one of those things where we know,

0:15:57.440 --> 0:15:59.240
<v Speaker 1>you know, I know we have to be much more

0:15:59.280 --> 0:16:02.760
<v Speaker 1>careful with day to privacy, but it's just so hard

0:16:02.800 --> 0:16:05.000
<v Speaker 1>to actually do it. I mean, it's one of those

0:16:05.040 --> 0:16:07.760
<v Speaker 1>things where it seems I until something bad happens to you,

0:16:08.400 --> 0:16:11.120
<v Speaker 1>it's almost impossible to motivate yourself to take more care.

0:16:11.240 --> 0:16:13.120
<v Speaker 4>And also, you and I always talk about this, like

0:16:13.200 --> 0:16:15.520
<v Speaker 4>what is to be gained by giving away my data

0:16:15.680 --> 0:16:18.280
<v Speaker 4>quite a bit? What is lost by giving away my

0:16:18.360 --> 0:16:21.600
<v Speaker 4>data quite a bit? But I don't care as much.

0:16:21.800 --> 0:16:23.160
<v Speaker 1>Yeah, I think there are things you can do at

0:16:23.200 --> 0:16:25.560
<v Speaker 1>the margins, like make a fake email address or a

0:16:25.560 --> 0:16:27.920
<v Speaker 1>burner email address for every time you sign up for

0:16:27.960 --> 0:16:31.560
<v Speaker 1>a site online, have a different password every time you know.

0:16:31.760 --> 0:16:35.000
<v Speaker 1>Those are steps you can take that will be substantially protective.

0:16:38.200 --> 0:16:40.360
<v Speaker 1>It's time for a quick break now. When we come back,

0:16:40.360 --> 0:16:43.280
<v Speaker 1>we'll run through the short headlines and speak with Jeff Rosenthal,

0:16:43.800 --> 0:16:47.560
<v Speaker 1>co founder of the VC firm SIEV about investing in

0:16:47.720 --> 0:17:03.720
<v Speaker 1>energy infrastructure. Carrow it back, and it's time to get

0:17:03.720 --> 0:17:04.600
<v Speaker 1>into the shorties.

0:17:06.720 --> 0:17:08.399
<v Speaker 3>I like that.

0:17:07.560 --> 0:17:12.720
<v Speaker 1>I'll start with one of my favorite publications, The Aviationist.

0:17:13.080 --> 0:17:13.879
<v Speaker 3>Do you really read that?

0:17:14.920 --> 0:17:17.520
<v Speaker 1>You read it online? I read it online. They have

0:17:17.600 --> 0:17:21.479
<v Speaker 1>a story with the headline British Army radio wave weapon

0:17:21.840 --> 0:17:26.720
<v Speaker 1>cooks multiple drones swarms simultaneously. If you can write headlines

0:17:26.760 --> 0:17:28.920
<v Speaker 1>like that, you deserve to be anybody's favorite publication.

0:17:29.119 --> 0:17:30.960
<v Speaker 3>Peabody, Babe Peabody.

0:17:31.280 --> 0:17:34.400
<v Speaker 1>So the British Army is testing a new air defense

0:17:34.480 --> 0:17:38.280
<v Speaker 1>weapon that can simultaneously destroy more than one hundred drones

0:17:38.440 --> 0:17:42.320
<v Speaker 1>in one deployment. The so called rapid Destroyer we Brits

0:17:42.359 --> 0:17:46.679
<v Speaker 1>to God with names, damages or disrupts critical electronic components

0:17:46.800 --> 0:17:51.480
<v Speaker 1>inside drones using just radio waves at high frequencies. This

0:17:51.600 --> 0:17:54.600
<v Speaker 1>causes the drones to crash or malfunction during flight, and

0:17:54.640 --> 0:17:58.080
<v Speaker 1>it could actually be a transformative defensive weapon for conflicts

0:17:58.080 --> 0:18:01.800
<v Speaker 1>like the War in Ukraine. To the UK's Defense Intelligence,

0:18:02.240 --> 0:18:05.000
<v Speaker 1>Ukraine had to defend against attacks from more than eighteen

0:18:05.119 --> 0:18:06.920
<v Speaker 1>thousand drones in twenty twenty four.

0:18:07.520 --> 0:18:09.520
<v Speaker 4>So bad news for members of jen Alpha trying to

0:18:09.560 --> 0:18:12.840
<v Speaker 4>pose his adults on Instagram. The Verge reports that Meta

0:18:12.960 --> 0:18:16.919
<v Speaker 4>is taking its AI driven age detection to the next level.

0:18:17.359 --> 0:18:19.480
<v Speaker 4>If a user claims to be an adult, meaning they

0:18:19.520 --> 0:18:22.159
<v Speaker 4>lie about their birth year, but then an AI tool

0:18:22.640 --> 0:18:25.680
<v Speaker 4>finds evidence that they are in fact a teenager, evidence

0:18:25.760 --> 0:18:29.919
<v Speaker 4>like messages from friends saying happy sixteenth birthday, smoking that's

0:18:29.920 --> 0:18:33.200
<v Speaker 4>a big smoking gun, Meta will automatically switch that user

0:18:33.240 --> 0:18:35.480
<v Speaker 4>to a teen account, So watch out who your friends are.

0:18:35.640 --> 0:18:37.080
<v Speaker 3>These accounts are more restrictive.

0:18:37.119 --> 0:18:40.440
<v Speaker 4>For example, they're private by default and Instagram limits the

0:18:40.520 --> 0:18:41.800
<v Speaker 4>kind of content teen c.

0:18:42.320 --> 0:18:45.960
<v Speaker 1>Here's one for all the people still ignoring cryptocurrency. The

0:18:46.000 --> 0:18:48.840
<v Speaker 1>Wall Street Journal has a story under the headline Crypto

0:18:48.920 --> 0:18:51.640
<v Speaker 1>knocks on the door of a banking world, shut it out,

0:18:52.160 --> 0:18:54.800
<v Speaker 1>and it reports that some crypto firms plan to apply

0:18:54.960 --> 0:18:58.120
<v Speaker 1>for bank charters or licenses, allowing them to operate more

0:18:58.160 --> 0:19:00.880
<v Speaker 1>like traditional lenders that can take deposits and make loans.

0:19:01.480 --> 0:19:04.240
<v Speaker 1>This comes just a few years after the FTX collapse,

0:19:04.320 --> 0:19:07.679
<v Speaker 1>when many major banks cut ties with crypto firms. But

0:19:07.880 --> 0:19:11.560
<v Speaker 1>where a bank license comes striccher regulation. At least for now,

0:19:12.040 --> 0:19:15.280
<v Speaker 1>all eyes are on the crypto friendly Trump administration to

0:19:15.320 --> 0:19:17.560
<v Speaker 1>see where the crypto companies will have to play by

0:19:17.560 --> 0:19:19.720
<v Speaker 1>the same rules in order to get these licenses.

0:19:20.240 --> 0:19:23.200
<v Speaker 4>And lastly, I wanted to highlight a new startup with

0:19:23.280 --> 0:19:28.479
<v Speaker 4>an unfathomable mission to achieve quote the full automation of

0:19:28.520 --> 0:19:31.879
<v Speaker 4>all work, so to basically achieve humans having to do

0:19:31.960 --> 0:19:34.639
<v Speaker 4>no work. This story is from tech Crunch, and the

0:19:34.680 --> 0:19:39.000
<v Speaker 4>company called Mechanize intends to research the limitations of AI

0:19:39.160 --> 0:19:43.280
<v Speaker 4>because they believe quote the explosive economic growth likely to

0:19:43.320 --> 0:19:48.239
<v Speaker 4>result from completely automating labor could generate vast abundance, much

0:19:48.320 --> 0:19:51.240
<v Speaker 4>higher standards of living, and new goods and services that

0:19:51.280 --> 0:19:55.680
<v Speaker 4>we can't even imagine today. Unsurprisingly, the announcement has received

0:19:55.720 --> 0:19:59.360
<v Speaker 4>considerable disdain and backlash on social media, but the company,

0:19:59.359 --> 0:20:03.280
<v Speaker 4>in its affiliate nonprofit AI research organization, actually has significant

0:20:03.320 --> 0:20:06.640
<v Speaker 4>backing from industry insiders, and they want you to know

0:20:07.280 --> 0:20:09.960
<v Speaker 4>that they are hiring humans.

0:20:09.960 --> 0:20:13.760
<v Speaker 1>Not fully mechanized yet not yet. It is interesting, though,

0:20:13.960 --> 0:20:17.040
<v Speaker 1>how quickly things which seem like pipe dreams of the

0:20:17.040 --> 0:20:21.840
<v Speaker 1>tech industry become the bread and butter of our daily lives.

0:20:21.920 --> 0:20:25.640
<v Speaker 1>I mean, think no further than generative AI chat GPT.

0:20:25.800 --> 0:20:26.840
<v Speaker 3>It's all I can hear about.

0:20:26.920 --> 0:20:30.520
<v Speaker 4>It's all people focus on, and even people who don't

0:20:30.560 --> 0:20:32.560
<v Speaker 4>know I host a tech podcast are talking to me

0:20:32.600 --> 0:20:36.200
<v Speaker 4>about it. I'm hearing stories at book club, at my passoversator,

0:20:36.440 --> 0:20:39.080
<v Speaker 4>in all of my group chats. Everyone wants to tell

0:20:39.119 --> 0:20:41.320
<v Speaker 4>me ways in which they are using generative AI.

0:20:41.960 --> 0:20:45.119
<v Speaker 1>Have there been any particularly striking usages that kind of

0:20:45.240 --> 0:20:45.760
<v Speaker 1>stuck with you?

0:20:46.000 --> 0:20:48.800
<v Speaker 4>I actually was able to do a palm reading on

0:20:48.840 --> 0:20:52.000
<v Speaker 4>my mother. I'm sorry, mom for giving chat GPT your palm.

0:20:52.119 --> 0:20:54.960
<v Speaker 4>We're gonna have to look into that on Google.

0:20:54.760 --> 0:20:56.720
<v Speaker 1>Chatchept will say yes to a request to do a

0:20:56.760 --> 0:20:57.200
<v Speaker 1>palm reading.

0:20:57.280 --> 0:20:59.400
<v Speaker 4>Oh absolutely, and then it gives you all of your

0:20:59.400 --> 0:21:02.199
<v Speaker 4>different life lines and your bumps on your hand and

0:21:02.240 --> 0:21:04.680
<v Speaker 4>all of that. And then there's the lowest hanging fruit,

0:21:04.720 --> 0:21:06.600
<v Speaker 4>which is what do I text back to the guy

0:21:06.600 --> 0:21:09.440
<v Speaker 4>from Hinge, which seems to be the most popular use.

0:21:09.880 --> 0:21:12.680
<v Speaker 1>Yeah. I love the idea of AI palmistry. I mean,

0:21:12.800 --> 0:21:15.600
<v Speaker 1>all of these industries that would have thought when the

0:21:15.600 --> 0:21:17.840
<v Speaker 1>writers were striking in Hollywood two years ago, this will

0:21:17.840 --> 0:21:18.600
<v Speaker 1>never happen to me.

0:21:19.080 --> 0:21:19.800
<v Speaker 3>Of all of it, I.

0:21:19.800 --> 0:21:22.440
<v Speaker 1>Should have laughed. But literally, really, a palm with AI

0:21:22.680 --> 0:21:23.240
<v Speaker 1>is insane.

0:21:23.320 --> 0:21:25.960
<v Speaker 4>We're going to see all those storefronts in the West

0:21:26.040 --> 0:21:29.119
<v Speaker 4>Village and Greenwich Village just shutting down because chatgvt has

0:21:29.160 --> 0:21:30.600
<v Speaker 4>taken their jobs.

0:21:30.240 --> 0:21:33.560
<v Speaker 1>Just computer screens and palm readers. Yeah. Something I think

0:21:33.560 --> 0:21:36.880
<v Speaker 1>back too often is my conversation with azeemas are Back

0:21:36.880 --> 0:21:40.000
<v Speaker 1>in March, he writes the Exponential View newsletter, and he

0:21:40.040 --> 0:21:42.640
<v Speaker 1>talks about the adoption of AI. Back in March, he'd

0:21:42.640 --> 0:21:45.800
<v Speaker 1>just given a presentation at south By Southwest about the

0:21:45.800 --> 0:21:50.840
<v Speaker 1>intersection between AI and energy demand, specifically how much energy

0:21:50.960 --> 0:21:53.639
<v Speaker 1>is needed to power all this new usage, and he

0:21:53.680 --> 0:21:55.480
<v Speaker 1>says something that really stuck with me, which is that

0:21:56.000 --> 0:22:00.000
<v Speaker 1>USAI dominance could be challenged by how quickly this country

0:22:00.080 --> 0:22:01.960
<v Speaker 1>can bring new power onto the grid.

0:22:02.280 --> 0:22:05.000
<v Speaker 4>Yeah, and the tech companies are addressing this head on.

0:22:05.600 --> 0:22:07.760
<v Speaker 4>Microsoft made a deal with the owners of the Three

0:22:07.880 --> 0:22:10.800
<v Speaker 4>Mile Island nuclear plant, which suffered a meltdown in the

0:22:10.880 --> 0:22:15.280
<v Speaker 4>nineteen seventies, to reopen it, and in return, Microsoft committed

0:22:15.320 --> 0:22:18.200
<v Speaker 4>to paying almost double market energy rates over a twenty

0:22:18.280 --> 0:22:19.040
<v Speaker 4>year contract.

0:22:19.440 --> 0:22:21.920
<v Speaker 1>So obviously energy is absolutely critical to the future of

0:22:21.960 --> 0:22:26.000
<v Speaker 1>the tech industry, and as we know US private money

0:22:26.119 --> 0:22:29.639
<v Speaker 1>increasingly plays a huge role in tech buildout. And just

0:22:29.680 --> 0:22:31.760
<v Speaker 1>look at Stargate, which are both fascinated by.

0:22:31.880 --> 0:22:33.720
<v Speaker 4>I don't know if i'd say fave, but I'm definitely

0:22:33.720 --> 0:22:34.720
<v Speaker 4>interested in Stargate.

0:22:35.040 --> 0:22:38.840
<v Speaker 1>This week, per Bloomberg quote, a new venture capital firm

0:22:38.960 --> 0:22:42.000
<v Speaker 1>called SIV has raised an inaugural fund of two hundred

0:22:42.040 --> 0:22:45.840
<v Speaker 1>million dollars to invest in startups tackling projects like nuclear

0:22:45.960 --> 0:22:50.240
<v Speaker 1>energy and manufacturing, joining a broader movement in Silicon Valley

0:22:50.440 --> 0:22:54.920
<v Speaker 1>to back physical world companies with national implications. Hits tell

0:22:54.960 --> 0:22:58.200
<v Speaker 1>us more is Jeff Rosenthal, the co founder and managing

0:22:58.280 --> 0:23:01.200
<v Speaker 1>partner of SIV. Jeff, thanks so much for being here today.

0:23:01.280 --> 0:23:02.920
<v Speaker 2>Thanks so much for having me Oz. It's great to

0:23:02.960 --> 0:23:03.240
<v Speaker 2>be here.

0:23:03.280 --> 0:23:04.520
<v Speaker 1>So tell us a little bit about SIV.

0:23:04.760 --> 0:23:04.840
<v Speaker 4>So.

0:23:04.880 --> 0:23:07.919
<v Speaker 2>SIV is a firm built with a very singular purpose

0:23:07.920 --> 0:23:11.080
<v Speaker 2>in mind. It's to back and build businesses that are

0:23:11.119 --> 0:23:15.280
<v Speaker 2>focusing on critical infrastructure and industry domestically. Here in the US.

0:23:15.720 --> 0:23:18.960
<v Speaker 2>There are these three multi decade megatrends that are really

0:23:19.000 --> 0:23:22.280
<v Speaker 2>meeting us quickly in this moment, and those are AI

0:23:22.359 --> 0:23:24.639
<v Speaker 2>and compute and the power needs behind them in the

0:23:24.680 --> 0:23:28.359
<v Speaker 2>digital infrastructure required. As you mentioned, the rev limitter to

0:23:28.400 --> 0:23:32.120
<v Speaker 2>AI really isn't GPUs, it is electrons. It's the reshoring

0:23:32.160 --> 0:23:36.159
<v Speaker 2>and reindustrialization of global industry after decades of offshoring and

0:23:36.200 --> 0:23:40.439
<v Speaker 2>globalization really following COVID and Ukraine and now accelerated with

0:23:40.480 --> 0:23:43.600
<v Speaker 2>the new administration. And then the third is the electrification

0:23:43.640 --> 0:23:47.560
<v Speaker 2>of everything and really just the need for energy abundance domestically,

0:23:47.680 --> 0:23:51.640
<v Speaker 2>not only because of economic prosperity, but also as a

0:23:51.720 --> 0:23:55.800
<v Speaker 2>pertinent national security requirement. So we see that as a

0:23:55.840 --> 0:23:59.720
<v Speaker 2>potential seventy trillion dollar market opportunity over the next fifteen years.

0:24:00.240 --> 0:24:02.200
<v Speaker 2>To put that in perspective, that would be like building

0:24:02.320 --> 0:24:05.600
<v Speaker 2>the rail system and the highway system every six weeks

0:24:05.640 --> 0:24:07.360
<v Speaker 2>for fifteen years here in the United States.

0:24:07.560 --> 0:24:10.080
<v Speaker 1>And what's the name SIEV means SIV is short for civilization,

0:24:10.800 --> 0:24:11.880
<v Speaker 1>So big, big goals.

0:24:12.320 --> 0:24:14.320
<v Speaker 2>I mean, you know, shoot for the stars, land on

0:24:14.359 --> 0:24:14.640
<v Speaker 2>the moon.

0:24:15.080 --> 0:24:18.400
<v Speaker 1>I'm especially interested in energy, and we've spoken about Microsoft's

0:24:18.400 --> 0:24:21.480
<v Speaker 1>investments in nuclear power. Do you at SIV have a

0:24:21.600 --> 0:24:26.320
<v Speaker 1>kind of ten year view on how America's energy needs

0:24:26.320 --> 0:24:27.160
<v Speaker 1>are going to be addressed?

0:24:27.280 --> 0:24:30.920
<v Speaker 2>Absolutely? Yeah. So we're saying we want to triple energy consumption,

0:24:31.680 --> 0:24:34.760
<v Speaker 2>you know, in a decade. Right. It's it's just the

0:24:34.800 --> 0:24:36.080
<v Speaker 2>United States. It's like a lot of these things that

0:24:36.080 --> 0:24:37.520
<v Speaker 2>people say. It's like, hey, if we're going to meet

0:24:37.520 --> 0:24:39.000
<v Speaker 2>the needs of the time, if we're going to meet

0:24:39.000 --> 0:24:42.240
<v Speaker 2>the demand curve of AI and reshoring and electrification, we

0:24:42.240 --> 0:24:44.879
<v Speaker 2>need to triple energy. It just doesn't really work that

0:24:44.920 --> 0:24:48.600
<v Speaker 2>way because we're talking about infrastructure. This is steel, it's rebar,

0:24:48.760 --> 0:24:51.840
<v Speaker 2>it's concrete, it's tens of thousands of people on work

0:24:51.880 --> 0:24:54.280
<v Speaker 2>sites every single day. And so it's not AI, it's

0:24:54.280 --> 0:24:55.879
<v Speaker 2>not software. You can't just say, like, we have a

0:24:55.920 --> 0:24:58.120
<v Speaker 2>million more users, let's just scale it. You know, when

0:24:58.119 --> 0:25:01.000
<v Speaker 2>we looked at this and we saw inflect demand with

0:25:01.160 --> 0:25:04.200
<v Speaker 2>relatively fixed supply. We thought that there was really nothing

0:25:04.240 --> 0:25:07.240
<v Speaker 2>that could completely cross that chasm except maybe the thing

0:25:07.280 --> 0:25:10.440
<v Speaker 2>that we invented seventy years ago, which is a scaled vision.

0:25:10.880 --> 0:25:13.080
<v Speaker 2>So you see plenty of money and venture going into

0:25:13.720 --> 0:25:16.600
<v Speaker 2>new reactors. And so when we look at the United States,

0:25:16.600 --> 0:25:19.640
<v Speaker 2>we have ninety four operational reactors today, we're the leading

0:25:19.720 --> 0:25:23.000
<v Speaker 2>nuclear superpower in the world. However, there's about fifty different

0:25:23.040 --> 0:25:25.760
<v Speaker 2>designs active, which means that they're all special snowflakes. And

0:25:25.760 --> 0:25:28.679
<v Speaker 2>when you build anything in of one as a singular project,

0:25:28.720 --> 0:25:30.879
<v Speaker 2>that's the most expensive way you could ever do things.

0:25:31.280 --> 0:25:33.639
<v Speaker 2>And so what we innovated on at the Nuclear Company,

0:25:33.680 --> 0:25:36.200
<v Speaker 2>which we co founded on our platform actually before raising

0:25:36.240 --> 0:25:40.000
<v Speaker 2>outside capital, is really a fleet scale approach to developing

0:25:40.040 --> 0:25:42.240
<v Speaker 2>and deploying approved nuclear.

0:25:41.840 --> 0:25:43.720
<v Speaker 1>Reactors, a fleet of reactors.

0:25:43.840 --> 0:25:47.880
<v Speaker 2>Yes, so instead of building one approved reactor gigawatt scale reactor,

0:25:48.119 --> 0:25:50.679
<v Speaker 2>we're actually building in of six. And the idea is

0:25:50.680 --> 0:25:55.159
<v Speaker 2>that you have huge cost declines and huge time declines

0:25:55.400 --> 0:25:57.600
<v Speaker 2>from reactor one to two to three to five. You

0:25:57.600 --> 0:25:59.719
<v Speaker 2>can build a real supply chain, you can build real

0:25:59.760 --> 0:26:02.879
<v Speaker 2>trades that roll from reactor to reactor, and this is

0:26:02.920 --> 0:26:03.880
<v Speaker 2>all through observed data.

0:26:04.280 --> 0:26:09.119
<v Speaker 1>Power generation is one challenge, power storage is another. Onboarding

0:26:09.160 --> 0:26:14.040
<v Speaker 1>to the grid is another, Dealing with regulations is another.

0:26:14.680 --> 0:26:17.560
<v Speaker 1>What's the kind of total picture of the ways in

0:26:17.600 --> 0:26:22.320
<v Speaker 1>which you are addressing the opportunity of energy demand in

0:26:22.359 --> 0:26:22.800
<v Speaker 1>the US.

0:26:23.520 --> 0:26:25.959
<v Speaker 2>Yeah, I think it's a very broad set of needs.

0:26:26.040 --> 0:26:29.600
<v Speaker 2>To your point, it's energy generation, it's storage, it's dealing

0:26:29.600 --> 0:26:33.399
<v Speaker 2>with more and more volatility on the grid which increases cost.

0:26:33.800 --> 0:26:37.119
<v Speaker 2>It's dealing with, as you mentioned in the opening, the

0:26:37.280 --> 0:26:41.000
<v Speaker 2>veritable arms race that the hyperscalers are going through for power.

0:26:41.080 --> 0:26:44.720
<v Speaker 2>This is a existential crisis for them to secure their

0:26:44.760 --> 0:26:50.520
<v Speaker 2>future growth. There is industrial efficiency technology. There's everything in

0:26:50.560 --> 0:26:54.960
<v Speaker 2>the vertical of digital infrastructure, cooling, high capacity lines, you know,

0:26:55.040 --> 0:26:59.919
<v Speaker 2>next generation racks and servers, innovation and acceleration in GPU,

0:27:00.040 --> 0:27:02.120
<v Speaker 2>and this is all Chapter one. That's the most exciting

0:27:02.119 --> 0:27:04.280
<v Speaker 2>part is like this is the worst that this technology

0:27:04.320 --> 0:27:06.720
<v Speaker 2>will ever be. And this is the very beginning of

0:27:06.760 --> 0:27:08.840
<v Speaker 2>the innovation cycle for all of these things. When you

0:27:08.920 --> 0:27:11.679
<v Speaker 2>use chat GPT's the worst it will ever be. The

0:27:11.720 --> 0:27:15.560
<v Speaker 2>way we really model what we personally back or build

0:27:15.800 --> 0:27:18.680
<v Speaker 2>as we say, hey, is this scale tech versus deep tech.

0:27:19.000 --> 0:27:21.480
<v Speaker 2>We think ninety five percent of the solutions are here today.

0:27:21.520 --> 0:27:24.080
<v Speaker 2>The chasm to cross is more one of execution than

0:27:24.080 --> 0:27:24.920
<v Speaker 2>one of pure intervention.

0:27:25.080 --> 0:27:28.160
<v Speaker 1>Just just to clarify, scale tech means something that already

0:27:28.160 --> 0:27:31.960
<v Speaker 1>exists that you can accelerate by investing in, whereas deep

0:27:32.000 --> 0:27:37.440
<v Speaker 1>tech means essentially replicating the role of university or funding

0:27:37.600 --> 0:27:40.520
<v Speaker 1>for research that may only bear commercial fruits a decade

0:27:40.520 --> 0:27:40.880
<v Speaker 1>from now.

0:27:40.960 --> 0:27:43.639
<v Speaker 2>That's right. I think it's too long duration to capital

0:27:43.680 --> 0:27:46.760
<v Speaker 2>intensive for a vehicle like ours, and we're also not PhDs,

0:27:46.800 --> 0:27:48.840
<v Speaker 2>so we really don't have much to offer you if

0:27:48.840 --> 0:27:51.320
<v Speaker 2>you're still in a lab, so we won't really take

0:27:51.359 --> 0:27:54.800
<v Speaker 2>binary science or technology risk. We then look for proven

0:27:54.880 --> 0:27:58.520
<v Speaker 2>customer demand, hence our LP base of true operators in

0:27:58.520 --> 0:28:00.679
<v Speaker 2>the spaces in which we invest. We want to understand

0:28:00.920 --> 0:28:04.640
<v Speaker 2>the appetite for adoption, the imminence of that adoption, when

0:28:04.680 --> 0:28:06.600
<v Speaker 2>would you adopt it, and then we want to back

0:28:06.640 --> 0:28:11.800
<v Speaker 2>into competitive unit economics. Businesses with those features really scale exponentially.

0:28:11.920 --> 0:28:13.600
<v Speaker 2>They can really redefine markets.

0:28:15.920 --> 0:28:18.520
<v Speaker 4>After the break, OZ has more from Jeff Rosenthal, a

0:28:18.640 --> 0:28:21.920
<v Speaker 4>VC firmative that's on tech Stuff's tech support.

0:28:21.960 --> 0:28:22.800
<v Speaker 3>Stay with us.

0:28:35.119 --> 0:28:37.520
<v Speaker 1>On the nuclear side. This is kind of one of

0:28:37.520 --> 0:28:39.840
<v Speaker 1>the great debates I think going on in the tech

0:28:39.920 --> 0:28:43.240
<v Speaker 1>world will be how much of text amount of energy

0:28:43.320 --> 0:28:45.840
<v Speaker 1>is met by nuclear. Of course, one of the facts

0:28:45.880 --> 0:28:48.640
<v Speaker 1>in this is that people are scared of nuclear power.

0:28:48.680 --> 0:28:50.120
<v Speaker 1>I mean they're scared of how you suppose that the

0:28:50.120 --> 0:28:53.400
<v Speaker 1>wast they're scared of meltdowns. Did you have any concerns

0:28:53.440 --> 0:28:56.440
<v Speaker 1>about the first project in this space? You know, you're

0:28:56.480 --> 0:28:58.560
<v Speaker 1>putting your name to being nuclear.

0:28:58.800 --> 0:29:01.040
<v Speaker 2>I think it gives us solid that zero people have

0:29:01.120 --> 0:29:03.080
<v Speaker 2>died from nuclear in the United States. You know, like

0:29:03.160 --> 0:29:05.360
<v Speaker 2>hundreds of fallen off of windmills. If you think about

0:29:05.480 --> 0:29:08.040
<v Speaker 2>coal plants or all the other ways in which we

0:29:08.080 --> 0:29:11.720
<v Speaker 2>consume power, there's trade offs to everything. I personally feel

0:29:11.720 --> 0:29:15.920
<v Speaker 2>that splitting atoms to create chain reactions to power giant

0:29:15.960 --> 0:29:18.959
<v Speaker 2>turbines that give us the energy and prosperity for our

0:29:19.040 --> 0:29:22.280
<v Speaker 2>cities in our society is almost the most amazing thing

0:29:22.320 --> 0:29:25.320
<v Speaker 2>we've ever done as a species. And we're not handling

0:29:25.400 --> 0:29:27.479
<v Speaker 2>nuclear waste ourselves. It's not like I'm taking it out

0:29:27.520 --> 0:29:28.959
<v Speaker 2>in a bag in the back of my house. We

0:29:29.000 --> 0:29:32.120
<v Speaker 2>work with nuclear operating utilities, and so this is constellation

0:29:32.240 --> 0:29:34.560
<v Speaker 2>or floor to power in light. They handle the nuclear

0:29:34.560 --> 0:29:38.200
<v Speaker 2>waste today without issue. We do believe that this is

0:29:38.240 --> 0:29:40.640
<v Speaker 2>an essential part of the power mix of the future.

0:29:40.960 --> 0:29:42.760
<v Speaker 2>It won't be all of it, you know, Like today,

0:29:43.080 --> 0:29:45.200
<v Speaker 2>the most efficient way to really run a data center

0:29:45.440 --> 0:29:48.840
<v Speaker 2>on power is two gas turbines because that achieves a

0:29:49.000 --> 0:29:51.800
<v Speaker 2>capacity factor, meaning they can stay on close to one

0:29:51.880 --> 0:29:54.800
<v Speaker 2>hundred percent of the time. The problem with intermittent energy

0:29:54.960 --> 0:29:57.920
<v Speaker 2>powering data centers is you really can't do training or.

0:29:57.880 --> 0:30:01.000
<v Speaker 1>Inference intimatum being basically solar.

0:30:01.080 --> 0:30:04.360
<v Speaker 2>Wind, et cetera. Yeah, so the value of twenty four

0:30:04.480 --> 0:30:09.080
<v Speaker 2>x seven clean base power is exponential for the entire system.

0:30:09.120 --> 0:30:12.040
<v Speaker 2>It's really really important. So it's not all just apples

0:30:12.040 --> 0:30:12.520
<v Speaker 2>to apples.

0:30:12.760 --> 0:30:15.400
<v Speaker 1>There is I mean, there are cool storage solutions around,

0:30:15.520 --> 0:30:18.200
<v Speaker 1>you know, capturing wind and solar energy to make it

0:30:18.320 --> 0:30:20.360
<v Speaker 1>on nine twenty four seven or investments in.

0:30:20.280 --> 0:30:26.120
<v Speaker 2>That space explicitly true. There are emergent technologies for large

0:30:26.160 --> 0:30:29.440
<v Speaker 2>long duration battery storage for wind and solar. There's things

0:30:29.480 --> 0:30:33.040
<v Speaker 2>like form energy and in Tora energy, there's interesting startups

0:30:33.080 --> 0:30:35.320
<v Speaker 2>that are looking to store thing and it's store power

0:30:35.360 --> 0:30:38.680
<v Speaker 2>and heat. So these things are amazing, they're so inspiring,

0:30:39.200 --> 0:30:41.320
<v Speaker 2>but they are not really here today.

0:30:41.600 --> 0:30:43.080
<v Speaker 1>We talked a lot on this show about how some

0:30:43.120 --> 0:30:45.960
<v Speaker 1>of these things that seemed like pipe dreams or seemed

0:30:45.960 --> 0:30:48.920
<v Speaker 1>like science fiction, uh, you know, becoming science fact in

0:30:48.920 --> 0:30:49.720
<v Speaker 1>our lifetimes.

0:30:49.960 --> 0:30:52.920
<v Speaker 2>These stories have been all around us for a long time.

0:30:53.000 --> 0:30:55.280
<v Speaker 2>It's more an awareness issue than it is like an

0:30:55.280 --> 0:30:58.200
<v Speaker 2>invention issue. So people are like, where's my iPhone? You know,

0:30:58.280 --> 0:31:01.080
<v Speaker 2>I got my first iPhone? Change my life, life Gmail

0:31:01.120 --> 0:31:03.080
<v Speaker 2>and change my life. Where are these things? And so

0:31:03.240 --> 0:31:05.720
<v Speaker 2>I would argue that this is one of the spaces

0:31:05.720 --> 0:31:09.080
<v Speaker 2>that you just see the future manifest regularly, like the

0:31:09.120 --> 0:31:12.760
<v Speaker 2>impossible become possible. It's such a fun innovation cycle.

0:31:13.200 --> 0:31:13.400
<v Speaker 1>You know.

0:31:13.400 --> 0:31:17.840
<v Speaker 2>There's things like Cigar Lake. Cigar Lake is in eastern Saskatchewan, Canada.

0:31:17.880 --> 0:31:20.840
<v Speaker 2>It's owned by Camico. They discovered it in the early eighties.

0:31:21.360 --> 0:31:24.520
<v Speaker 2>It's underneath a snow melt lake fourteen hundred feet deep.

0:31:24.520 --> 0:31:28.040
<v Speaker 2>It's a billion three year old deposit of uranium. Most uranium,

0:31:28.080 --> 0:31:31.480
<v Speaker 2>say in Africa point one two point two percent uranium

0:31:31.720 --> 0:31:35.080
<v Speaker 2>per ounce of war, right, and so these massive sulphuric

0:31:35.160 --> 0:31:38.719
<v Speaker 2>acid leaching fields. This is like twenty four percent uranium

0:31:38.800 --> 0:31:42.400
<v Speaker 2>war It's the second most concentrated uranium deposit in the world.

0:31:42.640 --> 0:31:45.640
<v Speaker 2>So they spent decades figuring out how to freeze the lake.

0:31:45.720 --> 0:31:48.959
<v Speaker 2>They free on this entire lake. Okay, then they rebarred it,

0:31:49.360 --> 0:31:51.840
<v Speaker 2>and then they drilled it fourteen hundred feet down and

0:31:51.880 --> 0:31:54.280
<v Speaker 2>they've been mining it with robots for three decades. And

0:31:54.320 --> 0:31:56.720
<v Speaker 2>it's where something like a quarter of our uranium comes

0:31:56.720 --> 0:31:58.480
<v Speaker 2>from in the United States. And so all I'm saying

0:31:58.480 --> 0:32:00.480
<v Speaker 2>the reason I offer you this, this is like a

0:32:00.520 --> 0:32:02.600
<v Speaker 2>wonder of the world. There are one hundred of these.

0:32:02.640 --> 0:32:05.600
<v Speaker 2>We just don't really know about them because we haven't

0:32:05.600 --> 0:32:07.240
<v Speaker 2>been excited about this space for a long time.

0:32:07.800 --> 0:32:12.760
<v Speaker 1>Bloomberg used the phrase physical world companies with national implications.

0:32:12.840 --> 0:32:16.160
<v Speaker 1>I thought was a good phrase because the world you're

0:32:16.200 --> 0:32:19.920
<v Speaker 1>investing in and building, of course, intersects very heavily with politics.

0:32:20.600 --> 0:32:23.360
<v Speaker 1>But on clean energy, it's kind of interesting because President

0:32:23.400 --> 0:32:28.360
<v Speaker 1>Trump has talked about beautiful coal, beautiful, clean coal, beautiful beautiful,

0:32:28.560 --> 0:32:31.840
<v Speaker 1>and has certainly stepped away from the Biden administration's commitment

0:32:31.880 --> 0:32:34.600
<v Speaker 1>to like keleen energy and green energy. At the same time,

0:32:34.680 --> 0:32:37.520
<v Speaker 1>I think Q one of twenty twenty five was the

0:32:37.560 --> 0:32:41.800
<v Speaker 1>biggest bonanza quarter for investment in climate tech the US

0:32:41.840 --> 0:32:44.440
<v Speaker 1>has ever seen. Five million dollars invested in one quarter

0:32:44.960 --> 0:32:48.160
<v Speaker 1>up nearly sixty five percent year on year. What's going

0:32:48.200 --> 0:32:51.200
<v Speaker 1>on there is private capitals seeing an opportunity in public

0:32:51.360 --> 0:32:52.760
<v Speaker 1>drawback or how do you know?

0:32:52.880 --> 0:32:56.280
<v Speaker 2>I mean, this is the Golden Age. So first and foremost,

0:32:56.400 --> 0:32:59.400
<v Speaker 2>there's this thing called Geben's paradox, and with Jebens paradox,

0:32:59.600 --> 0:33:01.720
<v Speaker 2>exis ammons is that for you know, one hundred and

0:33:01.800 --> 0:33:05.040
<v Speaker 2>fifty years, humans have essentially gotten one percent more efficient

0:33:05.080 --> 0:33:08.080
<v Speaker 2>every single year. We invent LEDs where we figure out

0:33:08.120 --> 0:33:10.800
<v Speaker 2>a more efficient electric motor, and then we use that

0:33:11.160 --> 0:33:15.280
<v Speaker 2>gain an efficiency which drops pricing to increase consumption by

0:33:15.280 --> 0:33:18.840
<v Speaker 2>one point three percent. So every time we increase efficiency gains,

0:33:18.840 --> 0:33:21.000
<v Speaker 2>we actually use more of what we have.

0:33:21.240 --> 0:33:23.680
<v Speaker 1>And this was why when deep Sea came out, the

0:33:23.760 --> 0:33:26.640
<v Speaker 1>Nvidia stock price went down, a lot of small people said, well,

0:33:26.840 --> 0:33:29.160
<v Speaker 1>actually this might be a good thing ultimately because although

0:33:29.200 --> 0:33:32.120
<v Speaker 1>they've done it without the very very advanced chips, this

0:33:32.160 --> 0:33:34.160
<v Speaker 1>will ultimately drive more demand for chips one.

0:33:34.360 --> 0:33:37.120
<v Speaker 2>Percent and more demand for AI. I believe we're pretty

0:33:37.240 --> 0:33:39.920
<v Speaker 2>energy blind in our society to a degree. In the

0:33:39.920 --> 0:33:43.600
<v Speaker 2>case of these clean energy companies and these efficiency technologies.

0:33:44.040 --> 0:33:45.800
<v Speaker 2>For the twenty years leading up to this we were

0:33:45.800 --> 0:33:48.560
<v Speaker 2>in an abundance market. You just did not need these things.

0:33:48.600 --> 0:33:51.440
<v Speaker 2>There was no market driver, there was no demand driver

0:33:51.560 --> 0:33:53.520
<v Speaker 2>for innovation in these spaces, and so that you can

0:33:53.600 --> 0:33:56.480
<v Speaker 2>see the returns being pretty abysmal.

0:33:56.600 --> 0:33:59.640
<v Speaker 1>Historical energy demand was flat until Jerry, we.

0:33:59.560 --> 0:34:01.840
<v Speaker 2>Were solving problem that didn't exist yet. And so it's

0:34:01.880 --> 0:34:05.000
<v Speaker 2>not just AI that's a major contributor. It's AI. It's

0:34:05.000 --> 0:34:08.040
<v Speaker 2>the reshoring and reindustrialization of global industry. If you want

0:34:08.080 --> 0:34:10.080
<v Speaker 2>to smelt steel in America, it takes a lot of

0:34:10.120 --> 0:34:12.840
<v Speaker 2>power building flush rocks in America if you want to

0:34:13.080 --> 0:34:16.880
<v Speaker 2>I mean, let alone, refinement of critical minerals and then

0:34:16.920 --> 0:34:19.319
<v Speaker 2>the mining of critical minerals like these are all things

0:34:19.320 --> 0:34:21.200
<v Speaker 2>that are nonpartisan in my opinion. Like this is a

0:34:21.239 --> 0:34:24.280
<v Speaker 2>movement that's been happening for quite some time. And we see,

0:34:24.360 --> 0:34:26.000
<v Speaker 2>you know, the tariffs more as a canary in the

0:34:26.000 --> 0:34:26.600
<v Speaker 2>coal mine.

0:34:26.760 --> 0:34:30.160
<v Speaker 1>So the energy sector has been particularly punished by the

0:34:30.200 --> 0:34:32.840
<v Speaker 1>swings and roundabouts on the tariffs. I think abound sixteen

0:34:32.880 --> 0:34:36.239
<v Speaker 1>percent this year. That's not something that concerns you as

0:34:36.280 --> 0:34:38.680
<v Speaker 1>somebody investing in this space, I.

0:34:38.640 --> 0:34:41.520
<v Speaker 2>Think it certainly concerns me. I think that you know,

0:34:41.560 --> 0:34:45.880
<v Speaker 2>you talk to anybody in retail markets are softening, consumers

0:34:45.920 --> 0:34:48.600
<v Speaker 2>are spending less money. But I think that these trends

0:34:48.600 --> 0:34:51.839
<v Speaker 2>that we're talking about are multi decade mega trends that

0:34:52.080 --> 0:34:54.160
<v Speaker 2>you know, you're going to need these things if you

0:34:54.239 --> 0:34:57.440
<v Speaker 2>want to have a prosperous society in the future.

0:34:58.000 --> 0:35:00.680
<v Speaker 1>When people think about the sa they tend to think

0:35:00.680 --> 0:35:05.480
<v Speaker 1>about consumer like you know, will by Parker or Goop. Well,

0:35:05.520 --> 0:35:07.840
<v Speaker 1>I think about SaaS, I think about you know, Slack

0:35:08.040 --> 0:35:11.720
<v Speaker 1>or Shopify or whatever else. But you're not the only

0:35:11.880 --> 0:35:15.080
<v Speaker 1>person to be looking addressing this kind of infrastructure opportunity

0:35:15.160 --> 0:35:18.480
<v Speaker 1>through VC. Andrewson, I think, announced a six and roe

0:35:18.480 --> 0:35:22.040
<v Speaker 1>million dollar fun last year to address American dynamism.

0:35:22.640 --> 0:35:26.279
<v Speaker 2>What's striving this necessity is the mother of innovation first

0:35:26.320 --> 0:35:29.320
<v Speaker 2>and foremost. You know, you have these mega trens we've identified,

0:35:29.320 --> 0:35:31.560
<v Speaker 2>I think many other people have. I think that there's

0:35:31.600 --> 0:35:35.400
<v Speaker 2>also a more durable moat in physical products in a

0:35:35.480 --> 0:35:38.560
<v Speaker 2>sense now, so while you know, hardware the first four letters,

0:35:38.560 --> 0:35:41.080
<v Speaker 2>and hardware is hard and so Benuura is always like, yeah,

0:35:41.120 --> 0:35:44.480
<v Speaker 2>you know, I'll stick to enterprise SaaS. That is way

0:35:44.560 --> 0:35:46.600
<v Speaker 2>less defensible than it used to be. You know, now

0:35:46.680 --> 0:35:50.560
<v Speaker 2>with windsurf and your own time, no staff, you can

0:35:50.640 --> 0:35:53.640
<v Speaker 2>code and develop, you know, your own apps or platforms

0:35:53.719 --> 0:35:56.880
<v Speaker 2>or technologies. Suites that used to take millions of dollars

0:35:56.880 --> 0:35:59.640
<v Speaker 2>in years and dozens of people on front end back

0:35:59.680 --> 0:36:02.920
<v Speaker 2>in nearing development. None of that is necessary anymore.

0:36:03.000 --> 0:36:03.080
<v Speaker 1>So.

0:36:03.760 --> 0:36:07.960
<v Speaker 2>The defensibility of what was really like the center of

0:36:07.960 --> 0:36:11.759
<v Speaker 2>the Venn diagram for venture deals a decade ago has

0:36:11.880 --> 0:36:14.200
<v Speaker 2>kind of disappeared to a degree. I think people are

0:36:14.320 --> 0:36:17.000
<v Speaker 2>conscious of that, and so we'd rather work with companies

0:36:17.000 --> 0:36:19.240
<v Speaker 2>that are utilizing the tools of the day to really

0:36:19.560 --> 0:36:23.200
<v Speaker 2>reimagine and reinvent critical industries versus just being like yet

0:36:23.239 --> 0:36:24.880
<v Speaker 2>another digital service provider.

0:36:25.760 --> 0:36:27.640
<v Speaker 1>Jeff, thank you for joining us on tech Stuff.

0:36:27.480 --> 0:36:28.799
<v Speaker 2>Of course, thank you for having me.

0:36:32.440 --> 0:36:34.040
<v Speaker 3>That's it for this week for tech Stuff.

0:36:34.080 --> 0:36:36.759
<v Speaker 1>I'm Karra Price and I'm as Valoshin. This episode was

0:36:36.760 --> 0:36:41.040
<v Speaker 1>produced by Eliza Dennis, Victoria Dominguez and Adriana Tapia. Is

0:36:41.080 --> 0:36:43.960
<v Speaker 1>Executive produced by me Cara Price and Kate Osborne for

0:36:44.000 --> 0:36:49.040
<v Speaker 1>Kaleidoscope and Katrina Norvel for iHeart Podcasts. The engineers are

0:36:49.080 --> 0:36:53.440
<v Speaker 1>Bahiit Fraser and Graham Gibson. Kyle Murdock makes this episode

0:36:53.480 --> 0:36:54.880
<v Speaker 1>and he also rid of theme.

0:36:54.719 --> 0:36:57.680
<v Speaker 4>Song Join us next Wednesday for tex Stuff the Story,

0:36:58.000 --> 0:37:00.560
<v Speaker 4>when we will share an in depth conversation with journalist

0:37:00.600 --> 0:37:03.759
<v Speaker 4>and podcast host Evan Ratliffe about a radical group of

0:37:03.800 --> 0:37:07.200
<v Speaker 4>young tech people concerned by the existential threat of AI,

0:37:07.600 --> 0:37:09.360
<v Speaker 4>who are on trial for murder.

0:37:09.840 --> 0:37:12.399
<v Speaker 1>Please rate, review, and reach out to us at tech

0:37:12.440 --> 0:37:15.200
<v Speaker 1>Stuff podcast at gmail dot com. We really want to

0:37:15.200 --> 0:37:15.680
<v Speaker 1>hear from you.