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Speaker 1: Earlier today, I caught up with Alexis Ohanian, the founder

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Speaker 1: of seven seven six of course the co founder of

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Speaker 1: Readit as well.

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Speaker 2: We discussed his approach.

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Speaker 1: To investing in AI companies and how he's thought about

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Speaker 1: the hype around AI this year.

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Speaker 2: Have a listen, there's a lot of hype right now.

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Speaker 3: I've been investing in the space for over a decade,

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Speaker 3: back when it was just narrow AI companies, you know,

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Speaker 3: seating companies like Athellis and Cruise, So this is really

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Speaker 3: now a big breakthrough. Generalized AI is a giant buzzword,

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Speaker 3: but there is some real special truth there, and we're

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Speaker 3: looking for companies that are using this technology to enhance

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Speaker 3: the user experience and outside of ways. It really is

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Speaker 3: as simple as that, and we're seeing it across the portfolio,

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Speaker 3: from AI produced dubbing like deep tune, to sports media

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Speaker 3: martagsmen companies like score plates.

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Speaker 2: It's not about just the buzzword.

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Speaker 3: It's about how are you improving users' lives using this

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Speaker 3: technology effortlessly.

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Speaker 1: When I was looking through the portfolio, you know the

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Speaker 1: examples of score playing deep tune, you kind of split

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Speaker 1: it maybe into a tool, an AI tool, which we

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Speaker 1: call generate AI and then an existing technology platform which

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Speaker 1: is kind of improved or added to using AI. You know,

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Speaker 1: explain to us why score play and deep tune fit

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Speaker 1: those two kind of categories and why you'd invested in them.

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Speaker 2: For sure.

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Speaker 3: Well, you know, as the owner of two professional sports teams,

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Speaker 3: I know how important media management is and this process

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Speaker 3: of actually capturing the clips, the photos or everything happening

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Speaker 3: on the pitch or in the stands, and then you know,

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Speaker 3: getting those out to the athletes, to social media, to

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Speaker 3: your media partners. That is a ton of work, and

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Speaker 3: software should automatically be able to seamlessly make all that

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Speaker 3: happen way more effectively.

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Speaker 2: But now you layer in AI and you.

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Speaker 3: Have something that now does it ten times faster, whether

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Speaker 3: it's identifying you know, this is Sidney LaRue, this is

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Speaker 3: her kicking a goal, this is the door dash logo visible,

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Speaker 3: and so all of that stuff can now be automated

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Speaker 3: away and so smaller teams can get far more done.

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Speaker 3: And it's not reinventing a whole new technology, it's leveling

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Speaker 3: up existing software that already has deep relationships with customers.

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Speaker 3: And so there are going to be these types of

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Speaker 3: companies that have strong motes and lock in that are

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Speaker 3: going to win, and you know there's going to be

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Speaker 3: big winners in the space as well. Chat shbt is

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Speaker 3: probably the most famous one, which I'm not an investor in,

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Speaker 3: though I really should have bugged Sam about that a

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Speaker 3: lot earlier. You know, I use it to tell bedtime

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Speaker 3: stories with my daughter, and so you're seeing this very generalized,

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Speaker 3: you know, approach from NLM like open Eye that's going

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Speaker 3: to solve a lot of problems for a lot of people,

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Speaker 3: and then much more specific approaches that are solving at

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Speaker 3: least right now, strong business needs and you know, offering

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Speaker 3: it like any other subscription as a service business.

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Speaker 1: Just real quick if you do bug Sam Altman. I

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Speaker 1: reported last week that there's a tender off r underway

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Speaker 1: right and there's pretty big, big blocks of shares on

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Speaker 1: the Secondari's market. Yes that you know value open Ai

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Speaker 1: eighty six ninety billion, more than one hundred billion some

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Speaker 1: of the prospectus that I've seen. Is that a way

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Speaker 1: for you to get in or did you just you

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Speaker 1: just stay away from open ai given its late growth stage.

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Speaker 2: I am such an early investor.

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Speaker 3: I want to be there at the point of inception

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Speaker 3: all the way to maybe the Series A. That's that's

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Speaker 3: when we like leading and running that first check. At

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Speaker 3: this stage, I still think there's value, but it's not,

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Speaker 3: you know, it's above my pay grade.

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Speaker 2: I enjoy, I enjoy.

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Speaker 3: Being super early and right, but you know, it's still

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Speaker 3: it's going to continue to surprise us. I think what

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Speaker 3: these technologies are able to do. And yes, there is

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Speaker 3: a ton of hype, but I do think the sky

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Speaker 3: is the limit. And I've known Sam since he did

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Speaker 3: Y Combinator together back in two thousand and five, and

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Speaker 3: one thing he has never lacked is ambition. And so

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Speaker 3: if there's anyone who can turn this into you know

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Speaker 3: what all the sort of hype is about, it would

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Speaker 3: be him.

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Speaker 1: So a big emphasis there on artificial intelligence. Alexis o'hanian

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Speaker 1: seven seven six founder, co founder of Reddit