1 00:00:00,200 --> 00:00:04,600 Speaker 1: Now here's a highlight from Coast to Coast AM on iHeartRadio. 2 00:00:05,040 --> 00:00:11,200 Speaker 1: So we've been talking about super Systemically, which has a 3 00:00:11,200 --> 00:00:13,440 Speaker 1: company focus. You can find out more about by linking 4 00:00:13,480 --> 00:00:16,640 Speaker 1: up to Greg at Kaiser at Coast to Coast AM 5 00:00:16,720 --> 00:00:21,880 Speaker 1: dot com. In the tonight's guest box, there's a book, 6 00:00:22,040 --> 00:00:25,479 Speaker 1: Dear Machine, but there's also an investment thesis, So I 7 00:00:25,520 --> 00:00:27,720 Speaker 1: want to pick it up right there. Let me read 8 00:00:27,760 --> 00:00:31,240 Speaker 1: a little bit of this, Like are you wrote it? Gregs? 9 00:00:31,280 --> 00:00:34,440 Speaker 1: You already know what it says. But at super Systemically 10 00:00:34,560 --> 00:00:37,640 Speaker 1: we are much We are as much focused on our 11 00:00:37,680 --> 00:00:41,800 Speaker 1: own incremental continuous improvement in well being as we are 12 00:00:41,920 --> 00:00:44,960 Speaker 1: on the contributing to the well being of other humans 13 00:00:45,040 --> 00:00:49,640 Speaker 1: and environmental stability. Our investment thesis is thus complex, as 14 00:00:49,680 --> 00:00:52,640 Speaker 1: it requires us to look internally to find the most 15 00:00:52,640 --> 00:00:56,760 Speaker 1: effective strategies for improving ourselves, our communities, and the greater 16 00:00:56,880 --> 00:00:58,960 Speaker 1: global community. This is the part I want to get to. 17 00:00:59,080 --> 00:01:03,080 Speaker 1: Our desire to see permanent solutions requires us to think 18 00:01:03,080 --> 00:01:08,800 Speaker 1: across disciplines and over long time horizons decades rather than 19 00:01:08,920 --> 00:01:11,520 Speaker 1: months or years, and then go into a little whole 20 00:01:11,520 --> 00:01:15,360 Speaker 1: thing about what those strategies mean. And I was reminded 21 00:01:15,400 --> 00:01:18,920 Speaker 1: as I read that that's kind of the premise for 22 00:01:18,959 --> 00:01:22,280 Speaker 1: a lot of the sort of spookier science fiction. That's 23 00:01:22,280 --> 00:01:25,360 Speaker 1: sort of like, what could possibly go wrong if we 24 00:01:25,600 --> 00:01:30,440 Speaker 1: created long term solutions and those long term solutions saw 25 00:01:30,600 --> 00:01:36,520 Speaker 1: us as the problem? Sure, where are you with that? 26 00:01:36,600 --> 00:01:39,560 Speaker 1: I think it's I think it's important to know the 27 00:01:39,600 --> 00:01:43,480 Speaker 1: focus of my investments and the firm's investments, and the 28 00:01:43,520 --> 00:01:47,160 Speaker 1: focus of the book. I'm really asking the question, when 29 00:01:47,480 --> 00:01:51,760 Speaker 1: a superintelligence does emerge, can we increase the likelihood that 30 00:01:51,920 --> 00:01:57,000 Speaker 1: it or multiple it's are focused on human well being 31 00:01:57,040 --> 00:01:59,760 Speaker 1: and environmental stability under the idea that these are things 32 00:01:59,800 --> 00:02:04,520 Speaker 1: that everybody wants. And so all the investments and all 33 00:02:04,520 --> 00:02:07,720 Speaker 1: the thinking that has gone into this kind of focus 34 00:02:07,760 --> 00:02:14,200 Speaker 1: in on that particular challenge. Why would the machines need us? Well, 35 00:02:14,639 --> 00:02:17,679 Speaker 1: if you think about you know, that goes asking the 36 00:02:17,760 --> 00:02:21,200 Speaker 1: question about superintelligence kind of goes back to asking what 37 00:02:21,280 --> 00:02:24,560 Speaker 1: intelligence actually is, and so good question. I don't believe 38 00:02:24,560 --> 00:02:29,960 Speaker 1: that superintelligence can emerge in a box kind of as 39 00:02:30,040 --> 00:02:33,680 Speaker 1: an evil entity, but rather emerge from our systems, from 40 00:02:34,400 --> 00:02:36,440 Speaker 1: all the things that we're doing now on the Internet. 41 00:02:36,480 --> 00:02:40,840 Speaker 1: I see as eventually informing this future super intelligent entity. 42 00:02:41,320 --> 00:02:44,160 Speaker 1: So if you think about all the billions of people 43 00:02:44,280 --> 00:02:47,760 Speaker 1: on Earth right now interacting with Facebook and interacting with 44 00:02:47,800 --> 00:02:50,920 Speaker 1: all these systems and shopping online and banking, and that 45 00:02:51,200 --> 00:02:54,240 Speaker 1: all that data, in my opinion, is what's really is 46 00:02:54,280 --> 00:02:58,040 Speaker 1: where the superintelligence is going to emerge from. And based 47 00:02:58,080 --> 00:03:01,359 Speaker 1: on that, I believe that on the whole, these entities 48 00:03:01,400 --> 00:03:04,600 Speaker 1: will be on the whole good for us. Because this, uh, 49 00:03:04,639 --> 00:03:09,040 Speaker 1: these systems are increasingly reducing efficient inefficiencies in our world, 50 00:03:09,400 --> 00:03:15,240 Speaker 1: helping us get food better and faster, helping us achieve, 51 00:03:15,919 --> 00:03:19,400 Speaker 1: you know, get economic opportunities and so forth. So I 52 00:03:19,440 --> 00:03:22,360 Speaker 1: believe on the whole that these entities will not be 53 00:03:22,480 --> 00:03:25,920 Speaker 1: in kind of a position, an antagonistic position to us, 54 00:03:25,919 --> 00:03:29,720 Speaker 1: but rather kind of emerge from us and therefore be 55 00:03:29,880 --> 00:03:34,000 Speaker 1: highly beneficial to us. Okay, But and then you know, 56 00:03:34,040 --> 00:03:37,920 Speaker 1: I'm a star trek guy, and I I'm also reminded 57 00:03:37,920 --> 00:03:41,360 Speaker 1: at several points in this conversation already about about the 58 00:03:41,840 --> 00:03:46,920 Speaker 1: book Frankenstein, you know, and the ongoing battle that human 59 00:03:46,960 --> 00:03:52,080 Speaker 1: beings have between the creator and its creation. Um, and 60 00:03:52,080 --> 00:03:54,920 Speaker 1: and at what point is it not does it not 61 00:03:55,000 --> 00:03:59,520 Speaker 1: have to be malevolent our destruction, but could just be 62 00:03:59,680 --> 00:04:05,280 Speaker 1: it can completely incidental. Um that I do believe that 63 00:04:05,360 --> 00:04:09,000 Speaker 1: to a certain degree, because there are if if this 64 00:04:09,280 --> 00:04:11,440 Speaker 1: happens the way that I think it will, I mean, 65 00:04:12,120 --> 00:04:15,800 Speaker 1: I'm just theorizing here, right, yea happens the way I 66 00:04:15,840 --> 00:04:18,680 Speaker 1: think it will, these entities will find that we do 67 00:04:18,720 --> 00:04:21,400 Speaker 1: a lot of really stupid things on earth in the 68 00:04:21,440 --> 00:04:23,320 Speaker 1: way that we run our you know, in the ways 69 00:04:23,320 --> 00:04:25,200 Speaker 1: that we grow food, in the ways that we take 70 00:04:25,240 --> 00:04:27,599 Speaker 1: care of our health, and the way all these different things. 71 00:04:27,800 --> 00:04:30,120 Speaker 1: And that is where the frictions are going to come from. 72 00:04:30,200 --> 00:04:33,880 Speaker 1: As as these entities trying to improve life for humanity, 73 00:04:35,040 --> 00:04:38,400 Speaker 1: of course we're gonna you know, we value our freedom, 74 00:04:38,440 --> 00:04:42,080 Speaker 1: we value all the different things that we can do 75 00:04:42,120 --> 00:04:43,960 Speaker 1: that you know, maybe they are stupid, what we like 76 00:04:44,040 --> 00:04:45,880 Speaker 1: doing them, and that sort of thing. So I think 77 00:04:45,920 --> 00:04:47,400 Speaker 1: that's where a lot of the frictions are going to 78 00:04:47,480 --> 00:04:49,479 Speaker 1: come from. People who I think are going to freak out, 79 00:04:49,880 --> 00:04:55,480 Speaker 1: to be honest, when that starts happening, I might you know, Um, 80 00:04:56,120 --> 00:04:58,440 Speaker 1: I mean, I think this is why in our own 81 00:04:58,560 --> 00:05:01,239 Speaker 1: fiction that we write a out it or have written 82 00:05:01,279 --> 00:05:05,080 Speaker 1: about it in the past. Um. You know, uh, in 83 00:05:05,360 --> 00:05:10,440 Speaker 1: Asimov's three laws that the first law is robot may 84 00:05:10,520 --> 00:05:13,680 Speaker 1: not injure a human being or through in action, allow 85 00:05:13,720 --> 00:05:16,919 Speaker 1: a human being to come to harm. Because without a 86 00:05:16,960 --> 00:05:23,440 Speaker 1: first law, robots could be theoretically or superintelligence of some sort. 87 00:05:23,480 --> 00:05:24,960 Speaker 1: As you say, it doesn't have to be in a 88 00:05:25,000 --> 00:05:28,960 Speaker 1: box enough to be a machine. Um could determine that 89 00:05:29,360 --> 00:05:34,320 Speaker 1: we are we have become irrelevant. And and that's where 90 00:05:34,640 --> 00:05:37,440 Speaker 1: it's not even a matter of there's no there's no 91 00:05:37,520 --> 00:05:41,479 Speaker 1: malevolence involved. We're just irrelevant. We're as insignificant as you know, 92 00:05:41,560 --> 00:05:44,080 Speaker 1: socks on a sunny day, you just like take off yourself. 93 00:05:44,160 --> 00:05:46,040 Speaker 1: You don't spend a lot of time thinking about it, 94 00:05:46,040 --> 00:05:49,840 Speaker 1: you just do. So that's why I'm that I'm sort 95 00:05:49,839 --> 00:05:52,800 Speaker 1: of intrigued. Well, I've always been intrigued by the Three 96 00:05:52,839 --> 00:05:55,840 Speaker 1: Laws or the Prime Directive from Star Trek or whatever, 97 00:05:56,240 --> 00:05:58,200 Speaker 1: because I think these are things that we often create, 98 00:05:58,200 --> 00:06:04,039 Speaker 1: which are that reflect our own fears, of our own vulnerability. 99 00:06:04,760 --> 00:06:07,400 Speaker 1: And when you're talking about this kind of super intelligence, 100 00:06:07,800 --> 00:06:10,359 Speaker 1: I can't even imagine where it could go. I'm not 101 00:06:10,440 --> 00:06:14,480 Speaker 1: even smart enough to understand that you know the outer 102 00:06:14,680 --> 00:06:18,520 Speaker 1: edges of that possibility, do you? And I'm not saying 103 00:06:18,520 --> 00:06:25,000 Speaker 1: that with any sarcasm. How super intelligent can intelligence get Yeah, 104 00:06:25,040 --> 00:06:28,320 Speaker 1: I mean no, I can't imagine. I can't imagine that 105 00:06:28,600 --> 00:06:31,320 Speaker 1: the outer edges of that either, you know. I think 106 00:06:31,320 --> 00:06:35,800 Speaker 1: the only thing that I can imagine is is, you know, 107 00:06:35,839 --> 00:06:39,440 Speaker 1: the near term, what those first those that first six 108 00:06:39,480 --> 00:06:41,200 Speaker 1: months or the first month, or the first couple of 109 00:06:41,279 --> 00:06:44,440 Speaker 1: days or whatever, when when a super intelligence turns to 110 00:06:44,480 --> 00:06:48,760 Speaker 1: Earth and says, Wow, what is what's been happening here? Like? 111 00:06:49,400 --> 00:06:52,160 Speaker 1: Things are a mess? Things we can totally improve everything, 112 00:06:52,240 --> 00:06:54,360 Speaker 1: you know, so many things here. But then what happens 113 00:06:54,400 --> 00:06:57,839 Speaker 1: from there? I don't know, because you know, there's there's conflict, 114 00:06:57,880 --> 00:07:00,800 Speaker 1: there's strife, et cetera. I do think eventually will achieve 115 00:07:00,880 --> 00:07:04,320 Speaker 1: some port some sort of symbiosis with these entities, But 116 00:07:04,640 --> 00:07:07,760 Speaker 1: I don't see how you know there can't be some 117 00:07:09,240 --> 00:07:11,760 Speaker 1: There can't be a pretty enormous amount of stripe as 118 00:07:12,200 --> 00:07:15,600 Speaker 1: as people kind of resist that, you know, a new 119 00:07:15,600 --> 00:07:18,320 Speaker 1: world that is more symbiotic with each other and with 120 00:07:18,440 --> 00:07:21,520 Speaker 1: nature and so forth. So had you brought up to symbiosis, 121 00:07:22,000 --> 00:07:27,400 Speaker 1: do we think that? How do you imagine the cyborg future? 122 00:07:28,240 --> 00:07:34,640 Speaker 1: The idea of enhanced physical human beings in some sort 123 00:07:34,680 --> 00:07:40,760 Speaker 1: of symbiotic relationship with a mechanical being yeah, I think 124 00:07:41,160 --> 00:07:44,200 Speaker 1: I think it's inevitable that we'll have connections directly from 125 00:07:44,200 --> 00:07:47,920 Speaker 1: our brain to the internet and so forth. Where you know, 126 00:07:48,280 --> 00:07:50,480 Speaker 1: right now we google something, we have to consume it 127 00:07:50,520 --> 00:07:52,920 Speaker 1: through our eyes and read it and kind of think 128 00:07:52,920 --> 00:07:56,120 Speaker 1: about it that way. I think we'll have more direct 129 00:07:56,120 --> 00:07:58,920 Speaker 1: connections to the internet so that we can just ask 130 00:07:58,920 --> 00:08:00,840 Speaker 1: a question in our mind and we have an answer instantly, 131 00:08:01,560 --> 00:08:04,600 Speaker 1: and that knowledge is just there. So I you know, 132 00:08:04,640 --> 00:08:07,680 Speaker 1: there's already people developing this type of thing, and they're 133 00:08:07,680 --> 00:08:10,160 Speaker 1: in early stages of testing it and so forth. I mean, 134 00:08:10,200 --> 00:08:13,520 Speaker 1: I think, you know, real working prototypes are probably still 135 00:08:14,160 --> 00:08:17,240 Speaker 1: at least a decade off or maybe two decades off, right, 136 00:08:17,040 --> 00:08:19,080 Speaker 1: But I think that's a reality that will you know, 137 00:08:19,120 --> 00:08:22,240 Speaker 1: there's such a there'll be such an economic incentive for 138 00:08:22,360 --> 00:08:25,440 Speaker 1: us to do that, it's going to happen. We're talking 139 00:08:25,440 --> 00:08:28,600 Speaker 1: with Greg Kaiser, what will happen when machines are smarter 140 00:08:28,720 --> 00:08:33,120 Speaker 1: than humans? Will we need to change everything we know 141 00:08:33,200 --> 00:08:39,720 Speaker 1: about how we interact with computers and online. So back 142 00:08:39,760 --> 00:08:45,880 Speaker 1: to the idea of investments, can't how can we plan 143 00:08:46,000 --> 00:08:50,880 Speaker 1: on either treating our own investments in positive or ways 144 00:08:50,920 --> 00:08:53,959 Speaker 1: of which we could fight this If we were against it. 145 00:08:55,320 --> 00:08:58,280 Speaker 1: I would say my perspective is that if we want 146 00:08:58,280 --> 00:09:01,880 Speaker 1: to try to increase the likelihoods and official we can 147 00:09:01,920 --> 00:09:03,640 Speaker 1: try to fix a lot of the things about the 148 00:09:03,679 --> 00:09:06,920 Speaker 1: way we run our world. That so that when the 149 00:09:07,000 --> 00:09:09,400 Speaker 1: superintelligent entity comes, you can be like, oh, look, we're 150 00:09:09,559 --> 00:09:12,880 Speaker 1: we're all happy and good. We're being good citizens to 151 00:09:12,960 --> 00:09:16,880 Speaker 1: each other and to nature and so forth. So that's 152 00:09:16,960 --> 00:09:18,960 Speaker 1: kind of the that's kind of the perspective I taken. 153 00:09:19,000 --> 00:09:22,160 Speaker 1: So the investments that I you know, the investments that 154 00:09:22,200 --> 00:09:25,720 Speaker 1: I've made and investments I'm looking into, they're not all 155 00:09:25,880 --> 00:09:29,560 Speaker 1: in technology. I mean, really the only technology one is blockchains, right, 156 00:09:31,120 --> 00:09:33,360 Speaker 1: And you're gonna have to explain blockchain for some people 157 00:09:33,440 --> 00:09:36,720 Speaker 1: because I have to all the time. And my son 158 00:09:36,920 --> 00:09:40,200 Speaker 1: is has a master's degree, you know, studying it for 159 00:09:40,360 --> 00:09:43,400 Speaker 1: different reasons, and I still find it very confusing. So 160 00:09:43,440 --> 00:09:45,480 Speaker 1: I don't I'm not surprised if other people do too. 161 00:09:45,679 --> 00:09:48,400 Speaker 1: How do you see blockchain playing into this, Well, I 162 00:09:48,840 --> 00:09:50,480 Speaker 1: think the main thing is, you know, we have all 163 00:09:50,480 --> 00:09:55,000 Speaker 1: this data that corporations have, that governments have, that we 164 00:09:55,080 --> 00:09:58,600 Speaker 1: have that Facebook has, et cetera, all this data about 165 00:09:58,640 --> 00:10:01,320 Speaker 1: how the world runs it. Maybe you know, how it 166 00:10:01,440 --> 00:10:05,080 Speaker 1: turn up gets from Iowa to California. It might be 167 00:10:05,200 --> 00:10:08,120 Speaker 1: how a pair of shoes gets from from China to 168 00:10:09,200 --> 00:10:12,360 Speaker 1: New York. But we have all this data about how 169 00:10:12,360 --> 00:10:15,400 Speaker 1: our world works, and it's in all these different silos, 170 00:10:15,400 --> 00:10:18,000 Speaker 1: in all these different corporate systems and so forth, and 171 00:10:18,040 --> 00:10:20,640 Speaker 1: so the idea is that or in my opinion, the 172 00:10:20,679 --> 00:10:24,559 Speaker 1: most powerful use potential use of block chains is for 173 00:10:24,840 --> 00:10:29,680 Speaker 1: that supply chain stuff to become much more transparent, so 174 00:10:29,760 --> 00:10:32,240 Speaker 1: that we have a much better sense of the kind 175 00:10:32,280 --> 00:10:34,120 Speaker 1: of the impact of our actions and where things are 176 00:10:34,120 --> 00:10:38,600 Speaker 1: coming from and so forth, so that we're um and 177 00:10:38,679 --> 00:10:43,480 Speaker 1: also transparency about government spending and so forth. So when 178 00:10:43,240 --> 00:10:47,480 Speaker 1: when subsidies are given to agriculture, when subsidies are given 179 00:10:47,520 --> 00:10:49,600 Speaker 1: to all these different industries and so forth, what are 180 00:10:50,200 --> 00:10:54,000 Speaker 1: those subsidies, how they happening, and put them out kind 181 00:10:54,000 --> 00:10:56,160 Speaker 1: of so that there everything is out in the sunlight 182 00:10:56,360 --> 00:10:59,720 Speaker 1: and also easy, easy to comprehend, and so forth. And 183 00:10:59,800 --> 00:11:04,000 Speaker 1: I think that's the power of blockchains is for transparency 184 00:11:04,040 --> 00:11:07,559 Speaker 1: across all of our systems. You know that that concept, 185 00:11:07,640 --> 00:11:11,520 Speaker 1: the blockchain concept also means that it is a decentralization 186 00:11:12,360 --> 00:11:18,000 Speaker 1: of authority and accountants um, so that there will be 187 00:11:18,040 --> 00:11:23,480 Speaker 1: different systems, different accounting systems, right, so that it's not 188 00:11:23,520 --> 00:11:27,560 Speaker 1: just one central bank for example, that's keeping track of 189 00:11:27,559 --> 00:11:33,600 Speaker 1: a transaction, it's exactly every bank at the same time. Sorry, exactly. Yeah, 190 00:11:33,600 --> 00:11:36,520 Speaker 1: I mean if you think about money and the fact 191 00:11:36,520 --> 00:11:40,160 Speaker 1: that bitcoin is now money, uh and uh, and it's 192 00:11:40,160 --> 00:11:43,000 Speaker 1: competing with US dollarants, competing with other things, and it's 193 00:11:43,080 --> 00:11:46,520 Speaker 1: a completely different system. You know, it's a it's code. 194 00:11:46,360 --> 00:11:50,240 Speaker 1: The the how it works is encode it into the 195 00:11:50,280 --> 00:11:53,640 Speaker 1: software as opposed to being something that uh, you know, 196 00:11:53,760 --> 00:11:57,880 Speaker 1: happens behind the scenes in terms of supply of the 197 00:11:57,920 --> 00:12:00,960 Speaker 1: currency and so forth the net. That's pretty much the 198 00:12:01,040 --> 00:12:05,280 Speaker 1: same for blockchains in general. Yeah. And so this idea too, 199 00:12:05,320 --> 00:12:08,280 Speaker 1: that the accountability would not be left up to one 200 00:12:09,080 --> 00:12:14,760 Speaker 1: place is or one proprietary system, that the accountability for 201 00:12:14,880 --> 00:12:19,320 Speaker 1: say a bitcoin, would be so diffused around all these 202 00:12:19,360 --> 00:12:22,360 Speaker 1: different places that it would be impossible to do or 203 00:12:22,800 --> 00:12:26,439 Speaker 1: you know, famous last words, but theoretically impossible to defraud 204 00:12:26,480 --> 00:12:32,800 Speaker 1: a system because there'd be so many observers simultaneously to 205 00:12:33,040 --> 00:12:37,079 Speaker 1: a kind of to the transactions that happened in a blockchain, exactly. 206 00:12:37,360 --> 00:12:40,480 Speaker 1: And that's simply before blockchains, that type of thing simply 207 00:12:40,600 --> 00:12:44,360 Speaker 1: wasn't possible. And this is interesting because a lot of 208 00:12:44,360 --> 00:12:47,040 Speaker 1: people think a bitcoin and they go, oh, well, I 209 00:12:47,080 --> 00:12:49,160 Speaker 1: don't want to put my money in a bitcoin, because 210 00:12:49,200 --> 00:12:52,520 Speaker 1: all it takes is one hacker, and once that hacker 211 00:12:52,559 --> 00:12:55,800 Speaker 1: gets into the system, they can deposit my bitcoins, my 212 00:12:55,920 --> 00:12:59,120 Speaker 1: theoretical money, into their theoretical bank account and I'll never 213 00:12:59,160 --> 00:13:02,400 Speaker 1: know what happened. But that that actually can't happen, or 214 00:13:02,440 --> 00:13:05,680 Speaker 1: at least I believe it's been proven so far that 215 00:13:05,720 --> 00:13:09,920 Speaker 1: it can't happen with blockchain exactly. I mean, the biggest 216 00:13:09,960 --> 00:13:12,960 Speaker 1: blockchains have not have not been hacked. The coin definitely 217 00:13:12,960 --> 00:13:15,839 Speaker 1: hasn't been hacked. Etherium has not. The problem is that 218 00:13:15,880 --> 00:13:19,719 Speaker 1: there's this you know, you're essentially your wallet is your 219 00:13:20,160 --> 00:13:23,560 Speaker 1: private key, is a string of numbers, and where you 220 00:13:23,640 --> 00:13:26,480 Speaker 1: store that wallet can be hackable, but it can't be 221 00:13:26,520 --> 00:13:29,079 Speaker 1: hacked on a systemic level. In other words, you know, 222 00:13:29,120 --> 00:13:31,600 Speaker 1: if you look at all the things that happened with 223 00:13:31,679 --> 00:13:33,959 Speaker 1: Target and so forth, where all these millions of credit 224 00:13:34,040 --> 00:13:37,800 Speaker 1: rights were so that can't happen because you'd have to 225 00:13:38,040 --> 00:13:39,960 Speaker 1: hack into a million computers at the same time to 226 00:13:40,000 --> 00:13:42,840 Speaker 1: make that happen. Because each one of the computers would 227 00:13:42,880 --> 00:13:45,080 Speaker 1: have a bit of the information and not all of 228 00:13:45,080 --> 00:13:48,920 Speaker 1: it exactly right. That's the interesting thing about blockchain, and 229 00:13:48,920 --> 00:13:51,640 Speaker 1: that's where the block and the chain comes into it. 230 00:13:51,720 --> 00:13:54,880 Speaker 1: That that's why you you know, here you had let's 231 00:13:54,920 --> 00:13:56,280 Speaker 1: I hate to pick it on a target, but let's 232 00:13:56,320 --> 00:13:58,920 Speaker 1: say that you know a target breach is that you 233 00:13:59,080 --> 00:14:01,840 Speaker 1: essentially had all of these numbers, all of these credit cards, 234 00:14:01,880 --> 00:14:04,839 Speaker 1: all of these names, all of these passwords stacked up 235 00:14:04,920 --> 00:14:08,720 Speaker 1: neatly in a vault somewhere, just waiting for somebody to 236 00:14:08,760 --> 00:14:11,000 Speaker 1: come by and drill into it and take it out. 237 00:14:11,080 --> 00:14:14,319 Speaker 1: And they did, and so it was just waiting for them, 238 00:14:14,400 --> 00:14:19,720 Speaker 1: essentially in piles of well organized data that thieves were 239 00:14:19,760 --> 00:14:24,840 Speaker 1: able to monetize. And that's what's not possible with the blockchain. 240 00:14:24,880 --> 00:14:26,680 Speaker 1: And that's why I think that's interesting when we talk 241 00:14:26,720 --> 00:14:30,320 Speaker 1: about the possibility of smart machines, though, is it possible 242 00:14:30,320 --> 00:14:33,640 Speaker 1: that we could use that same blockchain concept so that 243 00:14:33,800 --> 00:14:37,560 Speaker 1: not any one machine wells and again I'm using the 244 00:14:37,600 --> 00:14:41,120 Speaker 1: machine sort of loose sense, but not any one cyber 245 00:14:41,360 --> 00:14:46,120 Speaker 1: entity knew everything that it was. Only it only had 246 00:14:46,240 --> 00:14:48,600 Speaker 1: part of the story of the picture. So it could 247 00:14:48,680 --> 00:14:51,920 Speaker 1: never do what say, you know, a hacker did to 248 00:14:51,920 --> 00:14:56,200 Speaker 1: get numbers from target exactly, Yes, and I believe that 249 00:14:56,280 --> 00:15:00,560 Speaker 1: will be key to I think it's key T two 250 00:15:00,600 --> 00:15:04,320 Speaker 1: superintelligence arising in the first place, but also for increasing 251 00:15:04,400 --> 00:15:08,000 Speaker 1: the likelihood that they are beneficial. Listen to more Coast 252 00:15:08,000 --> 00:15:11,240 Speaker 1: to Coast am every weeknight at one a m. Eastern 253 00:15:11,520 --> 00:15:13,920 Speaker 1: and go to Coast to coast am dot com for 254 00:15:14,080 --> 00:15:14,280 Speaker 1: more