YouSaid · the spoken record

Emad Mostaque

lines on the record: 112
first: 2023-05-17
most recent: 2023-05-17
sittings or episodes: 1
sources: podcast

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“I think it's the same as always. You've got good products, good distribution. You lock it in 1.5 million people still use AOL. 40% of the world still doesn't have internet. We're super privileged where we are, right? And so you look at that, and I look at emerging markets. I'm like, all of finance is securitization and leverage. And securitization is telling a story. The only thing that matters for a stock is the marginal story and how it evolves. What if you have massive information about every child in Africa and every business in India and they embrace this technology properly? Massive financial growth.”
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
“They're doing the POC thing. Some Microsoft and others for consumer, they're adopting it. Consumer adoption is a much lower bar. When this starts going in enterprise, it's going to be a freaking train because so much of enterprise is about services and information flow. Again, if you push a button and have a thousand of these things, that's a huge difference. I think this will be a bigger economic impact than COVID. I don't know in which direction. I hope that'll be positive, but again, given that example of an India or one of these outsource places, you lose BPO jobs, you can make it up an entrepreneurship. You embrace the technology.”
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
“It came from the existing system, and so it goes seamlessly into the existing system versus like Web3 that tried to create a system outside the existing system, and all the money was made and lost at the interfaces. Again, it's like deploying grads at scale. Like with the 32,000 token context within the GPT4, 20,000 words of instructions. What does that do to SaaS? So my thing is that we're still in this crazy period next year it will settle and then it will go ubiquitous. A lot of companies know they need to do something. We don't know what they need to do.”
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
“Because, yeah, like you want to write an API, it's not a day, you just give it the manifest spec and it automatically generates it. It would have taken days before. It's an amazing experience because”
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
“And then what? When it jumps, as you saw with the llama stuff and all the innovation around that to your MacBook offline, the marginal cost of creation and coordination becomes zero. I don't know what it means. Nobody does. And this is the thing. It always takes longer and shorter to implement Gran-Baddy technology than you've ever seen. And this technology can be implemented like nothing we've seen before.”
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
“We have no idea. You would have said this is impossible. Two years ago, like, no way. You have a single file that's maybe a few hundred gigabytes that can pass every exam apart from English lip.”
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
“So again, you see the order of magnitude improvement. Palm last year was 540 billion parameters, then Chinchilla 67, and now 140 to 14 is a big step. You see the quality of GPT-3 versus GPT-4.”
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
“Yes, and so this is part of the thing that we will have a generalized model, and we're very clear, but then you can have a specified model just for you as well, as long as it doesn't interfere with that. The reality is no models that are out today will be used in here.”
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
“It is like that because I need to understand these sectors better. What does the Hyperkeeve look like? What does the insurance adjuster GPT look like as a fundamental basis? And so a lot of people like.”
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
“So we've announced Amazon. Let's say we have lots of other announcements with the biggest companies in the world where they have amazing teams, but they can only move so fast. I'm building the dedicated teams to help them move and understand the whole sector without trying to like sell them on services. I'm trying to say, I will build you a customized model if you want, but I'm only doing that with a dozen companies so I can focus down. And I will tell you that GPT-4 is great or coherent is gray or all this stuff. All the latest research through the communities we support, I will make sure you're on top of relevant to your sector and you've got dedicated people helping you in this transition period.”
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
“They said, really? Can you build them? Here's some models that we build. Oh, and then I told them exactly how the things would be last summer to now. And it's followed that. And I've kept in touch and I've improved it. And this is why I'm building dedicated teams with the largest companies in the world. I'm not telling them we're trying to sell you anything. I'm like, over the next year, I'm going to help make sure you do not get blindsided. And I could try and sell you models and people are offering us tens of millions per model. I'm like, I'm going to build a proper partnership with you. And that means I'll have an LTV from you.”
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
“Got to get in the door, and that's hustle, man. So, again, this is what the Harvey guys get. This is why I went straight to the hyperscalers and I said, Do you need to have standardized models for open for regulated data?”
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
“I think now they will if you can keep their data inside internally. And I think, again, with better open models, you can enable that. So people can build on top of open models. There are dedicated instances on COHER and others as well. And so the tooling is now catching up so that you can have a new generation of startups where their first customers are massive companies they would never get otherwise. Every big company is looking for an answer. If you can give that answer, that contract that would have taken you a year, you can get in a 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
“I think it's the right model. I think that a lot of organizations are elastic and plastic now, so you can go in and give them an integrated thing saying, you will be my test case. I will help you upgrade as a skunk works lab and build a system alongside your system, as it were.”
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
“So, you look at something like Harvey, for example. They went to law firms, they said, You are a distribution, and we're going to integrate and improve your system and build our system for your system. So I think a lot of these people are trying to build it and they will come and they're trying to get in there as opposed to just retargeting. Where can you go in and transform?”
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
“AI intuition means that I have existing newsroom and I bring in AI to write faster drafts and things like that. AI First is saying, I have an army of things I can spin up instantly that can help me achieve these certain things to create news that is valuable for this reason with this feedback loop. And so you build the system from the start thinking AI at the core versus AI being integrated into improve existing systems. Because so much of news is what? We find information, we have drafting, we have this, we have that. We do these checks. A lot of that can be simplified, just like we move from the analog to the digital age to the internet age. The next stage is the AI age.”
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
“Explain it like I'm five, make it more complex, and so you're going to see something very interesting here, which is the right news at the right time. The localization will return. But again, through AI first. I think this is the thing we're seeing AI integrated, but the next wave is going to be once we understand design patterns, AI first, everything in information flows. Once these technologies are a bit more mature.”
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
“AI is plus humans means that you have information coming in and then the stories or drafts are automatically written, reviewed by humans who then give their input to train it better. This is a feedback flow. And then what happens is it comes out, and there's a factual anchors, and then it gets customized to Alabama, and then Alabama context and all sorts of other things. Because you could tell it TLDR, too late you didn't read”
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
“You will have AI first publishers. So if you remember Vox and these things when they kicked off, they wanted to be generous. They wanted to be technology first. You're going to have a new wave of AI first. Publishers that aren't just AI but as AI plus humans.”
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
“This is why you've got the check marks coming out of Twitter and the organizational thousand pounds a month and Facebook doing the same because you need to have a level of authenticity and level of authority. But again, is the news fair and balanced? I've had lots of hit pieces coming out against me and got a lot more. It's not because they have angles. And so what is the bias of the New York Times versus this versus that versus others? How do people consume news now and even news consumption has gone down dramatically, right? Because people consume news through their social networks, through their groups and other things. So you have to say, what is the model?”
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
“The thing if you say this needs to be checked and cross checked, that's one thing. But a lot of the media companies say we're the source of authority. So a way that media companies can shift is by having News We are very thorough in the way we do it”
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
“I think he is right to be widely. Again, you look at Google's announcements yesterday talking about this day after Palm 2, you suddenly look at the new Google page where they've got the language model, and it's just text. And where the clicks, it was like when Google introduced AMP. This is where rather than looking at the New York Times page, you have this formatted thing with no New York Times kind of stuff there. These search entities that aggregate are dismediating more and more, and people are going to become used to just having synthesized input. So what does search look like? What does it look like when your GPT-4 can write you an article about any news that's happening in a way that's customized to you and your context and everything like that? This is massively disruptive for media and information. And so they have to think, where am I in the future? Again, the best way to think about the impact of this is the really tanted graphs that occasionally go off their meds and we push a button again, a thousand of them. Those grads include journalists. And you can have your own journalist army, your own writer army, your own coder army, your own designer army.”
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
“Mega cookie, and if you standardize the base foundation models, and I call it the HyperCube, every modality because we do all the modalities, all the sectors, and all the nationalities, then you don't need to have a million different models like those Dream Booths of the Avatars. You said you have a base model that you then have a vector embedding around, because these models contain all the principles, and the embeddings point to the important bits that make up Harry or Mad. And then you can search those and adapt those rather than having a million, billion different models, which is just confusing.”
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
“There is no such thing as an unbiased model. Dally 2, when OpenAI had that and they introduced a bias filter, any non-gendered word had a random gender and a random ethnicity. So you type consumer ESL and you'd get Indian female sumo wrestler. That was a good picture I got to save somewhere. This is why you need national data sets. You need cultural data sets. You need personal data sets that can interact with these base models and customize to you and your stories because you and I both have our stories that make up our psyche. Understand that context is so important to have AIs that can work for us, not on us.”
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
“Red data isn't bad in itself. It was just a case of more data is not always good. So right now we are using all these web scrapes and we're training our models by taping their eyes open and then it took six months to turn GPT-4 into ChatGPT4 because we had to tune it and give it a haircut and stuff and bring it back to society. The point is that we need to find the right type of data because rubbish in, rubbish out is something that we've heard a lot. It's not bad in itself, but if you just scrape it without the proper cleaning, it is bad because what is it? It's people just coveting a lot. People being biased. Do you really want to feed your kid the whole of Reddit? Do you want to have the best curriculum possible? And this is actually one of the ways the models learn. Like stable diffusion, we train it on the whole internet and then better and better image subsets of it. And that's the same thing with Loujour. It's called curriculum learning. Train it on a big base that's solid and then it sounds familiar, doesn't it?”
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
“Something we're exploring right now, but from the investment banks we've talked to asset managers, and we're building dedicated teams for the largest ones in the world to build them proprietary models. The feedback we've got is we cannot use a black box. We need to know what data is in there. The regulators are asking us. We don't want to have this out-of-sample thing where it's seen something on Reddit and then it says something rude to our end users.”
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
“Yes, because the danger is if it has some Reddit in there. So stableLM we'll put out next week, it wasn't as good as the other models because we're going to make a point about Reddit data being bad. It's a lot of more data, it's about better data. We had Datacomp, which is a next generation Lion that we funded the compute for, whereby the quarter of the parameters of OpenAI's clip it outperforms with a beta data quality.”
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
“I think on the consumer side, you're freer with your information, so you can use a lot of these things. And the APIs of OpenAI and Coherent others are fantastic, right? And Google Palm now being out there. So it will be integrated to deliver better consumer experiences without it being creepy like you've seen with some of the chat votes, et cetera. Because it's going into Word, it's going into workspace. You know, like it helps already. Like we will have a conversation that will be automatically logged by our Pixel phone and then we'll get a transcript and remove bits that we don't want to share that it goes into a global knowledge base that reminds us of things. That's inevitable. On enterprise, it takes longer because you need to have auditable standardized models. If you're a financial services institute, you can't have a single piece of crawl data in there. And so that's what we're deliberately building with the largest companies in the world because we're building dedicated teams.”
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
“Questions is you've seen an open AI study, you've seen the which said tasks will be replaced up to 44%. Yeah. You've seen Gorman Sykes say add percentage points to GDP. I think the only solution to this is entrepreneurship. And so we need to give the tools to create new jobs that can replace some of these old jobs being done. So like to the various Asian governments, I'm saying adopt the UK policy of the sandboxes, financial AI and other regulatory sandboxes. So you can take these technologies, these national models that we will help you build with our consortium partners and then spur innovation to create the jobs to replace the existing jobs because you'll upgrade your entire society. Bring these models into your governments and other things to go from slow dumb AIs, which is the national organizations healthcare, to intelligent dynamic ones.”
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
“And so they have an objective function when they need to embrace this technology. In Africa, one-to-one tuition, every kid in Malawi is some things we lined up. We've got other nations. We're going to bring them all this technology and tablets. And guess what? Their lives will transform. One AI patral is what I want to call it. But think about the potential of that because you have one teacher per 300 kids. What if they had a chat GPT level AI? The ROI is high and the need is high, and so they will embrace it far quicker than we will.”
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
“Our partners, and that's valuable because the private data in the world is far more valuable than the data that you will send to proprietary models. And it's not a race to the bottom either. That's what we are. We're a modeling agency with hot GPUs. And building a distribution around the world realizing that India and other nations will leapfrog to intelligence augmentation just so they leapfrog to mobile, they will embrace this technology far quicker than we will in the UK even. Because they have to. India, all of the outsourcing jobs and programming will go because GPT-4 can go level 3 Google Programmer exam and pass it. Outsource jobs will go the first, whereas in France you're never going to fire a French person, so those jobs are vacce.”
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
“My business model is actually very simple. I haven't really talked about it much. Stimulate Open, one of the biggest providers of grants to open source software, tens of millions already, and then take the best of Open, which hopefully we build ourselves. And then an open base with an open data, and then commercial variants with licensed data, and then national variants. So you have Hindi insurance adjusted stable chat or Indonesian pharmaceutical worker stable chat that's available in every cloud on-prem, on device with licensing fees, royalties, and revenue share. And the system integrators work with us as well. Lots of announcements to come. And so by standardizing and stabilizing all the complexity to these very sophisticated building blocks, these very intentionally built models, that really helps the world integrate this stuff by building playbooks and other things. That's the core business because it doesn't require actual innovation. We are still innovative in the leaders and media in particular. Instead, it requires data and distribution. Data to the models, the models are open and interpretable and models to the data view.”
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
“Yes, because Microsoft is a business. And so this is why you've seen articles in the information say OpenAI aren't compliant and OpenAI say Microsoft on this. These things happen when there is a misalignment of objective functions. But again, you should view OpenAI as what they want to do is build an AI that can basically make the world better and hopefully not kill us all, which they say it might, which is a bit concerning, which is why I hope they have better open governance.”
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
“They're building an AGI to turn the world into utopia. It's written in their path to AGI thing that they think this can basically bring about utopia. So a lot of people in these labs, when we have people joining from all of these labs, like they are almost zealous in their...”
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
“I saw it as the objective function of OpenAI is to build AGI, and they reckon they need $10 billion to do it, and they did that. Like they're building a business on product and things, but they don't care, and they're not trying to build a sustainable business, they're trying to build an 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
“This is how he saw it rather than being responsible for that. So, if you can bring that distribution to that, it was important. This is part of that Google memo that went out. We don't have an EdgeLab that is OpenAI. OpenAI used Microsoft for distribution and that flywheel. If you have a business that's focused on innovation at the core, that's not actually a business. It becomes a business when that innovation becomes product, becomes distribution, when it has an advantage on data and other things. Those are real modes.”
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
“There's going to be this tailwind of beta, and then you have an alpha play on top of that, right? So the beta play is that you just invest in any good founder. And if you get in, you figure out what can I offer as a value add there? Am I offering distribution? Am I offering people? Am I offering this? And you emphasize a value set. There are a few people that are like coming out here, but then what is you see good companies, good ideas, but not businesses? They're building surface level things, these wrapper layers and others, and they're not thinking about distribution and data. If you want to have distribution, what do we do? We went to Amazon and said bedrock, because then it gives us a hundred thousand SageMaker SMEs. And we just have to give them the models that they can then take to the private data, and we get a share of all of 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
“And others and universities and others. This is what we're doing right now. We're working with our multinational partners, lots more to be announced soon, and multiple governments for a framework for what good data looks like to feed these models, to stimulate innovation and localization. And that is a public good because national broadcasters have all of this data. You just tokenize all their kind of things. And then you have things like the implementation of these for education and healthcare. You can take generalized learnings and again feed the models that thing. What is a great data set for a great bridge EPT look like? I think it's open, it's interrogating, and it's optimized.”
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
“Is this in national infrastructure? Because there is no doubt this is more important than 5G. These models are like really talented grants that occasionally go off their meds. And you want to have the ones from Oxygen Imperial and Edinburgh, as well as the ones from Stanford, because they understand the local context and so they understand you better and they'll be better for that. As part of that, every nation will need their own data sets, which again have from broadcaster data. They will need their own open models that can stimulate innovation internally 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
“I'll give you an example. There was a team that did Japan diffusion, including some of our staff. So we took stable diffusion and then changed the language model. Because when you typed in Salary Man in Stable Diffusion, it was a very happy man. For us in Japan, a Salary Man is a very sad man. Local context is important in these models because we're going to outsource more and more of our thinking and minds to it. And so do you want to have a British model or do you want all the models to be Palo Alto? Like it's a sparkling wine has to be from the Champagne region. Is the only real foundation model AI from Palo Alto?”
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
“I think it starts good for the space, but then it gets bad for the space because you see the raccoons and shysters start to come in here. You start to see malformed things where there's a race dynamic where everyone's trying to build their own models and doing all sorts and massive economic waste. And you see a distraction from what we need to do now, which is there's chaos that we need to standardize some things. We need to feed these models better data and other stuff. And that's why we're moving so hard at stability. There should be no more WebScript data in here. There should be national data sets that are good quality to feed these free-range organic models and national and proprietary models and others. So that's why one of the reasons I signed that letter, because I think there's a six-month pause to get all of our shit together before things go completely insane and next year this is everywhere and everyone's investing in everything and it's just absolute chaos.”
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
“Rounds with zero traction and zero visus model. Like stability, we actually have a business model, it's a good business model because they designed it. But other things like money will go everywhere and any expertise will be paid off.”
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
“The dot com bubble, we've seen all these bubbles happen. You had hundreds of billions into Web3, and then developers got paid millions. Already there are certain Chinese companies paying $1.2 million salaries for PhDs. It's already getting a bit insane. They're in remnants of that. The amount of money relative to the amount of opportunity within the sector is just completely misaligned. Like my TAM analysis is that 1,000 companies have spent 10 million in the next year, 100 companies spend 100, and 10 companies spend a billion. Like PWC just announcing they'll spend a billion over the next three years. And that's a accountancy firm. Where's that going to go? They don't know, nobody knows. And so a multiple of that will be allocated to this as the only growth theme in the entire market against a backdrop of rising rates real estate crashing, etc. So the amount of capacity versus the amount and wall of money into something that's growing faster than anything we've ever seen is completely mismatched. And what will I cause? Like already you're seeing GitHub stars leading to $100 million funding.”
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
“Because you are a regulated company, and so you need to make sure they're completely compliant. If you have an option of having a stable chat model, which will be announced in the future, that you own completely trained in your own cloud or on-prem or on device, and then also using GPT-4, that's the best of both worlds, because then you don't have to deal with that. Healthcare data needs to, again, be owned by the individual, and so those models need to be owned. And they need to be transparent. It can't be black boxes. Governments will not run on black boxes.”
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
“Because I think this is part of the shared narrative, someone needs to be open and share what's going on under the hood. And again, it's like it should be open by default because the value is not in any proprietary models or data. We're going to build open models that are auditable, even if it has licensed data in it. You can see every single piece free-range organic models, because that's what the world needs for all the private regulated and other data in the world. It's a completely different TAM to proprietary models because you can only send so much of your 20 VC data to OpenAI. And I think you need both of those.”
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
“So we've got the shed now, so we're going to build the foundation to activate humanity's potential and then the motto is make people happier. But it's been a learning process. A year ago, we're basically a mom and pop shop in some ways. My wife and I were working at it, had lots of meetings out of our sitting room and things because the office didn't have Wi-Fi and all sorts. Now it's like growing up where 170 people were going global. We'll have stabilities in every country. And the next year we're going multinational. And that's difficult. Part of this is like we went closed source on a bunch of stuff like Dream Studio. I'm open sourcing everything now. From next week we're going to build our language models in the open and share what works and what doesn't work.”
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
“Of course, it is a lot of kind of replicated jobs. There was brain and mind, and now they're brought together. And it's a very different management style and other things. These things are never easy. But this is why you saw Palm 540 billion parameters and that you had DeepMind with 67 billion parameters in Chinchilla, which is like just train more as opposed to more parameters. You look at Palm 2 as a combination of both. And so it's trained far more on far better data. And then that means it's only a fraction of the size, like 14 billion parameters is one of the test comparator models versus the 540 and 67. So you can start to see this fusion of ideas, even if the teams, you cannot integrate two big teams like that instantly.”
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
“Just takes a bit of time to move the ship, right? And so they've done massive organizational changes and other things. But I can tell you TPUs are the most scalable architecture. Like we have zero failure rate with our TPU language model training, whereas with GPUs, it's like there's an ECC error Y, a solar flare. Okay, run failed because the sun is angry with us and stuff like that. So when you've got the full stack and you have all that talent in Google, the question is, how do you make it organized, right? And so they had to have a story. Google did something called prototarotle, where they analyze what made the best teams best of the worst teams at Google. And it came down to shared narrative and psychological safety. People at Google were scared over the last few years because it came this weird monoculture, but now everyone has a shared narrative of let's build the best language models. And now there's an increased amount of psychological safety being able to speak to things, the walls being brought down between deep mind and brain. And so I think you'll see them continuously improving. And then that does mean if your proprietary language model company, how are you going to compete with that vehement?”
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
“No, I think it was impressive. I said in February, like when all this thing was going on, come on, Google will be one of the main winners here. They have the LLMs.”
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
“So I think the wonderful thing about these models is they're a few shot learners, so they don't need to have much information. As I was in the classical big data problem, if you have open source language models that are fully auditable, understand, I call them organic free-range models, the ones we're building, with no web scrape data, those can sit on device like Google SD announced POM2. The smallest POM2 model is 400 million parameters. It works when your Google Pixel phone. You don't need giant models anymore. And then that model can just share the specific information that preserves your privacy with the bigger thing. And then it can take from that global knowledge base as well. So you'll have big global models on device models. And I think OpenWorks will actually don't need to have all the data open. You just need to know that Harry is old enough to have a drink, not that. All the details about Harry is birthplace and everything 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