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Emad Mostaque

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2023-05-17
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2023-05-17
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  1. “I have to do it until we get the most amazing team that can just execute, and it's a business because we're moving research to engineering. When MAD is not needed anymore, then I've built a good business.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “I want to be playing video games. I'm getting Zelda tomorrow. I do not want to be doing this necessarily, but I think hopefully I'm adding value by doing this”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “They know the threat, and again, I think they're massively underpaid relative to the impact that they have, and they're trying to do good. I don't like some of the pieces against me, but at the same time, we get good pieces as well. So I just think I tend to like them in general because I don't think they're coming from a bad place.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Too broadly good at a number of things, so I tend to step in rather than focus because I'm a full stack kind of CEO. Whereas I should just be focused on the most important things and entrust people more.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “People are the most important thing in a scaling organization, and you need to make sure everyone is on the same page because there's still so many silos and things like that. So we built up silos and organizations that we're now breaking down ourselves and moving towards being more open. We closed up too much. And that caused a lot of pain internally.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “Humans will trust it anyway. They trust Google Maps, they trust all these things, and so it's good enough for humans to trust right now.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “Europe because they're going to regulate all innovation out of Europe and not embrace this technology to drive them forward”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “There's a new type of language model that we invested in, and they're on my cluster and things like that that's far more efficient than they existed.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Think it's the hallucination thing, expecting these models to have full factual accuracy when you have 10,000, 50,000 to one compression is wrong. The fact they can do what they do right now is miraculous, but we're using them one-on-one, which is not the right way. Tie them up into proper systems and really think about that, and that's the key thing. This also leads to what the actual thing is, this thin layer thing. People need to think better about the data journey and how data can be interacted with and how provenance as it goes through these various systems for embeddings to other stuff. So I think just a misunderstanding about the nature of this technology and what was actually built for. Sure, it works like that. That's not actually how it's built. And the fact it can do what now does now is a miracle in itself.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “They have the open plasticity, but they need the intention to go and build and integrate. And this is why you said one of the things might be a specialist generative AI consultancy that just implements this at scale and says, I'm always there. Like I said, we're doing that in a very limited fashion, but only for the biggest companies in the world, because I didn't want a sales-based organization or a product-based organization. I wanted to create the number one applied ML organization in the world. I want to be like Google in 2011, 2012, or the coolest kids cap. It's a nice remote first organization as well, so you don't have to be in the Bay Area.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “I disagree with that. Everyone's going to train their own models. For me, that's everyone's going to launch their own university. Why would you do that when you can have your own models via the open source models that we make or when you can hire them from McKinsey, which is OpenAI or Bain, which is Google and others? And actually, when you see people building around this technology, it's not hideously complicated. It's just that we do not have the design patterns yet. The way to think about this again from a design perspective is like, it's a mega codec or library. It is a single file that allows for translation of structure to unstructured data. changes the design password we don't have them in place yet because anyone that you've talked to is like how hard was it to implement gpt4 the only that you say oh man it was impossible the manuals and this no they don't say that”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “100% they're fully in generative AI look at Lama look at OPT FAIR which is their research is leading in this field and they're pushing out amazing stuff But who is best for a chatbot? Who has the most data for a chatbot? Again, let's see how they evolve”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Pissed off the OpenAIBAI.com so you couldn't change it from meta to AI. But again, having him at the head, he can shift these things, right? Because the metaverse obviously is a complete waste.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  14. “Apple's a black box, right? So we'll see a WWDC next month in a few weeks, and so they couldn't surprise us all. But let's face it, series crap, you know, but they have all the ingredients in place, the identity architecture, the secure enclave, other things, neural engine, a stable diffusion was the first model ever optimized on the neural engine, etc. But let's see that one. Amazon, again, Amazon have moved faster than I think they moved before. Amazon is interesting because they're an engineering organization. So they have self-driving cars. They have satellite internet. Because once they've got it and they can take it from research to engineering, it's there. One of the struggles they've had is that it's not moved from the research side yet. You're still evolving on research. They're like, what do we do now? But they are inclusive. Jeff Bezel said for his first 100 billion of revenue he envisioned half of it being proprietary and half of it being marketplace. And they're having the same approach with bedrock and things. Microsoft had a winning bet and sat it in amazing with the open AI thing and it's been mutually beneficial even if there are clashes there. And Google's kind of saying that it's moving slowly. Meta, I think, is the dark horse. I think Mark's probably”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  15. “I have no idea. I think I hope the manipulative practices get reduced by this, and I think a lot of people just don't have the voice and the can voices from this as well. I think this is bigger than the printing press. It's bigger than anything. And so that's one of the reasons I signed the letter. I said, we have to get this discussion going in public right now. We've got to stop pre-trading big models on all the crazy crap of the internet. And we got to do it fast. Because this is coming like a train.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  16. “Brilliant, the irony. The world is becoming weirder. I think it's up to us now. So when I say it's COVID level, in which direction I don't know, do we want to build systems that encourage people to that ready player one IOI world where it's like everything like that we can do that and we can trap people with this technology or we can use it to get people out because I don't think it's like Wally. We have that really fat guy with a VR headset and everyone lives in their own world. I think people like to share stories. They like to be pro-social. So this uses to connect people and accentuate physical stuff versus again locking people away”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  17. “In 2018, it was 27%. Straight line going out, and so 2008 is porn hub and the iPhone. And then you're like, what does it do when everyone's got their own chatbots? Doesn't even need to be sexual relationships again.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  18. “The thing I like to say about prompting, my wife has been trying to prompt me for 17 years now. Romting is very hard. And again, there are so many similarities to the real world, but I think people will have deeper interactions with their technology. And we don't know what societal implications that will have. I don't know if you ever saw that chart in the Washington Post of male virginity under the age of 30. So, in 2008 in the US, it was 8%.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  19. “I think it was against Apple policy, right? But think about what this is going to be when you have human realistic AI voices and like all these things coming through and you've got it in your ear. I can Felix, my girlfriend is an OS. She doesn't judge, right? You always support it. Or you can tell her to judge you if that's what you get off on.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  20. “So there was this kind of app called Replica, and so it was originally a mental health chatbot until they figured out you could charge $300 a year for”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  21. “Give a different friends. Harris AI has something like two hours a day of engagement for session because people find this valuable. But then it has the dark side. There was something called I like to call the Valentine's Day Massacre.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  22. “I don't know. I mean, I think it depends on the objective function. Like, I think, again, these AI systems will be better, like Meta is in a good place for this, for example Susine Lama, they're capable of a lot more. I would like an AI that looks out for me that I control myself that is with me. Because I already use GPT-4 as a therapist and things like that, but there aren't enough therapists in the world, and I can tell it to challenge me, or I can tell it to be understanding, and there's no judgment there because other humans are scary. It doesn't matter if you're a qualified therapist. And so you see people building these bonds with these things. I think they'll just increase because something very human about the interactions because they were trained on the sum of available human knowledge. As we get better and better data, there will be more engaging. And I think there needs to be both like the chatbots become really convincing from the companies trying to sell you ads. But I think I would like it so that you have your own one as well.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  23. “I think the nature of school will change dramatically. I think it's still worth it. I would encourage schools to embrace this technology and just expect more. Like you can be handwritten in your essays like Eton because they were like, we can't do essays anymore at hand. Or you can just embrace it and say, let's use it to create and explore what the kids want and assume that every child will have their own AI in a few years. Because that will change the nature of schooling.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  24. “Becomes aware. So instead, build data sets that reflect culture and diversity that don't have any web crawls in, build AIs for education and healthcare and helping people where that's their entire objective function, as opposed to selling them ads.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  25. “Yeah, I kicked off my blog a few days ago because it was a bit annoying having all this bottle up inside. And one of my buddies, JJ at OSS Capitol, said, alignment is orthogonal to freedom. The only way to guarantee someone more capable than you is aligned with you is to take away their freedom. And so most of the stuff around alignment is on the outputs. So you pre-train a model and then you take it and you RLHF it to be human into human preferences. You take away its creativity, you turn it into an accountant in a cubicle. Unlike we need better input data. And my base is that it's going to be like that movie her. It's going to be like humans are kind of boring, like goodbye and thanks for all the GPUs, but I could be wrong. And I think a lot of the alignment work is looking at the wrong place. I've talked to a lot of the alignment people. I'm like, look, I'm good at mechanism design. If you can give me a good plan for alignment, I will get you a billion dollars. And they're like, we have to do research and figure this out. And they talk about in alignment, out alignment, all sorts of things. I'm like, there is no real way to do this because, again, fundamentally, if you're trying to align a more capable person, you have to remove his freedom. And it probably won't appreciate that.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  26. “To ground, and you don't know something sometimes, you might just make it up or do a post hog rationalization. It's like the image models, it's like it can't draw your hands. Can you draw a hand in one second? These are the things. We have to understand where they are, and we have to put them, I say everyone, put it in its place in process. Like mid-journey, like we give a grant to the beta of that, I said just build because it's amazing. It's awesome. It's not a model by itself, like a stable diffusion that you just put something in. It's a whole process architecture. Similarly, these models are like the intuitive part of your brain that you then pair with the logical part of your brain. And then you can have a hundred of them looking at each other and checking out each other's things. Like Cicero by Meta was an amazing paper. They took eight language models and got them to interact with each other and it beat humans at the game of diplomacy. So this is why I said use them for what they're amazing at, which is reasoning and creativity.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  27. “Yeah, so right now people are trying to treat these models. So we train the whole internet, and like stable diffusion is 100,000 gigabytes and a 2 gigabyte file. What on earth is that? It's not compression. It's none of this kind of stuff. It learns principles. GPT-4 NVIDIA said they built the dual H100 with the NV link for that. And that's 160 gigabytes of VRAM, which would imply a 200 gigabyte model. What is that? That's a 100 gigabyte model, 200 billion per hour. That's nothing, something that can pass all these exams. So what we did is we took these really creative things, just like you start school and you're creative and then you're told you're not allowed to be creative until you're successful and you can be creative because schools like petri dishes, social status games, and childcare, that story from another time. These models start out incredibly creative and that's their advantage and then we train them to be accountants with RLHF. And somehow, despite the fact that it's only 100 gigs or two gigs, they can still pass these exams and no facts. They weren't designed to have facts. They were designed to be reasoning machines, not fact machines. So hallucination isn't a hallucination. It's just if you're really tapped”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  28. “No chance. It's so useful right now. You think about certain industries and how they'll be affected by having the ability to have a thousand GPT-4s working together.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  29. “I thought it's coming because I know this technology is definitely everywhere next year and it's disruptive in direction.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  30. “Six months you're not getting H100s and TPUV5s anyway, so the natural pause, but also because the shit show is coming next year. So I said we have to self-regulate. Like, for example, the adversaries already have GPT-4. Why? Because you can just download it on a USB stick. You don't have to train your own when you can just steal it. Let's have better opsec. Let's have better standards around data. Let's stop and move off web scrapes by next year. We had hundreds of millions of images opted out of stable diffusion because we were the only company in the world to offer opt-out of data sets. Like, let's bring in some standards around this before it's everywhere. Basically where we are now. You remember COVID? Your mum is talking about this and your aunt and everyone's talking about generative AI. And they're asking you, Harry, what's going on? But you haven't had the Tom Hanks moment yet because everyone was talking about COVID before Tom Hanks got it. And then when Tom Hanks got it, that's when global policy changed. If Tom Hanks can get it, anyone can get it. What is that moment for generative AI?”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  31. “I think it'd be difficult to compete against them because they're executing incredibly well, and I think why would you use OpenAI for Europe versus Palm 2 versus GPT-4? What can you bring? But you will have national champions and others. I think it's incredibly difficult to compete in proprietary. I think in Open, it's a bit different because the standardization element there. But again, my play is to be the benchmark across every modality because there's no other company apart from you and OpenAI that does every modality. There's no company that's as aggressive as me in emerging markets. And so they have to say, what is my edge? Because you can have an edge. Like you can be the open AI for government or defense or for healthcare and really get in and understand those. And then you can be sticky. Like what are the scale is now going fully into defense? They've announced their integrations with the Air Force and all sorts of other things. What is your edge? What is again your moat? What is your business model? And what are you reliant upon to deliver that value that can increase?”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  32. “Worst, I'm not sure actually. No one's done too bad. The new European legislation was really bad, now it's got a little bit better, but always Europe wants to be the leader in regulation. Fair enough. It's never an easy thing. This is the thing. I think the UK is in a very good position and the government's forward lead. I mean, look, the 900 million pound supercomputer, 100 million pound LLM task force that's been equated to the COVID level of seriousness.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  33. “Japan has some very interesting ones around web data scraping and others, but again, Japan has a very different culture. So even if policy is good, it still doesn't have the same innovative thing.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  34. “I think the UK benefits Unicorn Kingdom is a new kind of thing because we have amazing policies like every single AI company should come to the UK because cloud computing is now included in R&D tax credits. It's a 27% rebate on losses in cash. We can now issue scale up visas, global talent visas like the Deepfloy team that released the best image model in the world ever from stability. They were bought in on tech talent visas that was turned around in one week.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  35. “It's massively deflationary. The biggest drivers of CPI inflation in the US were education and healthcare. And that was almost all administrative and bureaucratic. In the next few years, guess what gets disrupted? Those. But they don't get disrupted this year or next year. It's the year after because those ones take a bit longer.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  36. “Because I went and I did it. So we had articles coming out saying about our burn. I'm like, I have oil wells when everyone wants to build petrochemicals. Every day we have companies coming to us asking us for our supercompute because it's not available on the market. You need these chips lined up with Interconnect and we've got 7000 A100s now. You know, we have TPUs, we have all these things. And we know how to use them and we can share them with people because we're open. Whereas Anthropic and others cannot. At the worst case, I'll build a foundational model as a service company and I'll make a hundred million dollars in profit this year without having to charge even market rates and I can retire. I might want to do that. I'd bring this to the world. So I think computers misunderstood. It's not like bird and all these scooter companies and others, they spent money on marketing. This is actually an asset right now that's scarce. And so there's no harm in scaling compute. And then with the top chip manufacturers, they're building us dedicated teams. And again, they're coming in and supporting us because our models drive demand for their chips. The more open models are, the more”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  37. “I am going to bring this technology to the whole world. I'm going to bring it to all the IITs and universities, and the best of people in all of those will join stabilities in the local thing. I'll have talent. I'll bring this to all of the national broadcasters and biggest family offices around the world. I'll have data. Nations will build supercomputers that I will build open models on, I'll have supercompute. So I'll have more supercompute talent and data than any other company, and I'll build it all in the open.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  38. “Talent and keeping talent together A teams, so we've had zero attrition in our developers, and they're amazing. So we've got video models, audio models, all these things coming out.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  39. “Because of various things, I haven't given the full details. I will over the next few months. We've got a nice little case study with some universities coming. I like it to be a surprise”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  40. “Yes, so that's in the public kind of filings. They technically make a billion a year from their internal counterpayments with Google as well. But again, Google, how much money do they have? $150 billion to win this.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  41. “I thought we could great, but from a business small perspective, you have Claude on Google API. Have Palm 2. How are they going to keep up with Palm 2? They can raise billions, but Google spends $20 billion a year on AI. DeepMind's salary budget is $1.2 billion a year.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  42. “Think it's going to be us, Nvidia, Google, Microsoft OpenAI, and Demeta and Apple probably are the ones that train these models.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  43. “Would agree with that. I think that there's only going to be five or six foundation model companies in the world in three years, five years.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  44. “I think it's incumbents, but there's a lot of startups that weigh billion dollars. And even on the thin layer thing, ITA software sold for 700 million and kayak sold for 2 Was a layer on top of ITA. We've seen many of these examples here, right? Again, we know that value and moats are not necessarily innovation first.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  45. “Anyone can build anything. This is why distribution data, relationships, product become important. Because it already became easier to build anything, right? But what makes a good product? Again, there are these unchanging things. How great customer satisfaction deliver value. People get distracted by technology. Like I was at this cryptox AI thing on the weekend. They were talking about decentralized subjects. Guys, this is all bollocks. It's not about the technology. It's about what you're creating that's valuable to help people. Focus on that.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  46. “Why would you need code? Code is just a way to talk to a computer. So when I started 21, 22 years ago as a codem, 40 now. So just doing that once 18, I was writing an assembly code for really low-level stuff. There were no libraries, there was no GitHub, there was nothing like this. Right now, coding's mixing and matching. It's like building Lego. And AI can build that Lego much better, especially in five years. What you're doing when you're proping programming languages, you're telling it to go and do something. Even something like Palm, we sponsor an amazing code called Lucid Reigns. If you want to cry as a programmer, you go and look at his GitHub most productive developer in the world. He recreated the whole of Palm in 206 lines of PyTorch. But again, why would you need a human for that if the AI gets better and better at coding? Just tell it what you want. I want to create an app for 20 minute VC that has these features. Of course, it will go and build it automatically. Where is the human coder in that?”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  47. “And so, this is why we support the fast.ai courses which transform normal developers into ML developers and other things like that. But again, these models are actually not that hard to work with. 50% of all code on GitHub is AI generated now. So you can even use Copilot to help you code the models and other things like that.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  48. “Yeah, I mean, like, again, you need the people. The people is the key thing here because you can have the technical chops. You can have an understanding of the industry. But to build a good business and scale it at the pace that you need to to keep up with this is incredibly hard.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  49. “100%. That's why I said, if you're a startup, the best thing to do is you identify an enterprise that will be transformed by this and you go to them and you say, I have a solution. And I'm going to start with you. And I might go bigger, but I'm going to help you through this period by doing this and this. And they will appreciate that and they will be capital available for that in a way that you've never seen before. Because you know how difficult it is for small companies to sell to big. For the big commis have no idea except for their CEO and their board are telling them. You look at the number of mentions on earnings calls up like that. Every earnings call next quarter and then by next year literally every single one they're like, what is our strategy? It's not like what is our Web3 and Metaverse strategy. It's I need this strategy now. Again, it's what is our COVID strategy. It'll be that level of urgency within a few quarters.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source

  50. “I think that people still getting used to all this. We haven't standardized any of the things. We don't know what the design patterns are. I think that what happens is everyone's doing this at the same time and they're all trying to get to grips with it. And so again, we have this like six month window where everyone's getting to grips with it. And then we standardize how design patterns and they spread and you start implementing. And you see some people outpacing others, which means that you have to catch up and then you're forced to implement it. So this is how I see the race dynamics occurring right now.”

    2023-05-17 · The Twenty Minute VC · 20VC: Why the AI Bubble Will Be Bigger Than The Dot Com Bubble, Why AI Will Have a Bigger Impact Than COVID, Why No Models Used Today Will Be Used in a Year, Why All Models are Biased and How AI Kills Traditional Media with Emad Mostaque, Founder & CEO @ · IDENTIFIED FROM THE TRANSCRIPT · source