YouSaid · the spoken record

Guy Swann

lines on the record: 110
first: 2023-09-20
most recent: 2023-09-20
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Stability AI, and they also just create it, they just announced a new model called Stability Code, where it's a model about teaching you to code if you don't know how to code or basically filling in the blank. And this is a major, major, major use for LLMs and stuff that something I have used constantly. So stability AI is a really, really good one to follow because they have been on top. They're a wonderful resource for open source development and progress in this space. And other than that, follow me on YouTube and the podcast AI on chain and Bitcoin Audible because I'm trying to keep up with and talk to a lot of people in the space. And so hopefully I have a lot of really fun updates in the not too distant future.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Like personal AI. And there's another podcast called Latent Space. If you're trying to get into the nit and gritty, if you're not a developer, a lot of it's going to go over your head. It does for me, but I just kind of keep listening because, again, 30% of it is very, very applicable and very, very useful because they're thinking about this thing about how to prompt things and how like how to really find the get the best juice out of the squeeze. And they are also a good way to connect to other AI podcasts. In fact, I might actually have them on the show and try to get them to dump some stuff down. I should reach out to them. Then there's stable diffusion, stability, AI. I think it's stability.ai is the website, but they are a totally open source. They're the ones that are the reason for the explosion in the open source image diffusion style.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Sure, for sure. Brian Romelli, R-O-M-O-E-L-L-E, has a project, I've been trying to, I've been bugging him to try to get him on the show, on the AI on chain. So definitely check out AI Unchained. It's where I'm attempting to document the majority of what I'm finding ends, like exploring and going through as I try to build my Twitter list of signal, which is very difficult. It's hard in AI. I've run into a lot of roadblocks and trying to find the cream of the crop, so to speak. So definitely follow AI Unchained, and I will try to make as much available there as possible. The multiplex, I think, is the name of it. I had the link, but Brian Romelli's blog, he keeps up with a good number of things about how to think about these things. And he's building a really fast.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We don't hold the same premises, but what we do is we just kind of try desperately to separate these things in our minds. But the LLM is going to do that when we figure out how to weight these things biological premise. It will be able to square all of these ideas together and just basically save like, well, we just believe a contradiction over here. That's not right. And as we start making sense of, again, the models and relationships and these systems of how to think about thinking, the amount of change, the amount of like you think like the last like 15 years, 20 years of social media, like has really messed with people and messed with political institutions and who holds the power and who controls the opinions. Oh my God.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“We're going to have LLMs that explain to us what we believe is a logical fallacy and where ideas contradict each other. And we're going to be able to test these things and butt these ideas up against each other at a layer that we've never been able to do before. And that is going to really, really mess with people, I think. Because most people categorize things separately in their minds and they'll believe one thing. They'll believe one set of premises about their religion and one set of premises about their government and then one set of premises about like just like everyday life and they won't even recognize that they none of them fit together, that they don't have a unified theory of the world. In government, people are magical fairies that can just like do all the things. In normal everyday life, you should be skeptical of people and you shouldn't give them any power or control over you or share any information. And in religion, it's all just fairy dust and there's a man in the clouds, you know, like.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“While they're creating somebody's created, and it seems like a really, really clever method, a way to have some degree of like object permanence within the pixel relationship to basically correct that. But that's where I think like the major step function improvements are going to be. And when we start understanding this, when it comes to moral premises and logical premise and the way that we think about things and we can give this to the LLM or we can have a logic model that ties to the language model.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It's just a slightly new method for how to build the light relationship. And then there's another paper. I haven't finished reading it about a new way to create text to video and how to create somehow they figured out how the math can have like two different layers of like understanding both the object and the pixel relationships, which is why image generation applies or translates to video really crappily. You know, if you've ever seen like the video animations they've done with image generation, like they're constantly changing or whatever. And suddenly they're like the person's wearing headphones and then they're not. And like it just every single frame is slightly different”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Radiance field of the entire room so that I can just stick a virtual camera at any point in this room and all the reflections will change. And if I move the camera, the reflections will shift based on where the camera is in the thing. And it's gorgeous. It's gorgeous. And it takes zero compositing.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That's why 3D light always seems fake. It's so hard to put a finger on it on exactly why, but your brain can sense it if you have a comparison. So there's this new thing called neural radiance fields. And it's just an entirely novel way of modeling a light map of what's happening in the room. And the model is specifically how does light react. And it doesn't create a 3D environment in the way that you can just like stick it into Blender. Granted, they've already kind of figured out how to make it trick it to do that. But you can, I can literally go through with just like a phone and walk through an area and then put it into the nerf is what it's referred to, the neural radiance field. And it will create a damn near picture perfect, like perfect lighting. The reflections will change based on the way you do it.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And all this stuff to make it good. Well, now there's something called, and one of the big problems actually is that light is insanely difficult in a 3D environment. Because when you're looking at light on something like just in your room, you think about it like, oh, there's a light source, and then that's bouncing off the object. But that's not all the light. The light is also bouncing off the wall to the object. And if the wall is gray behind it, well, then there's a tent of gray on this edge. It's also bouncing around the frame, which is creating like a slightly off white. Inner edge, like there's light coming from everything as a light source because you only see all of it because blight is bouncing off of all of it, right?”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And then put language on top of it. How do you create a new layer below it? And that's how you think about the math that's creating the patterns rather than how do you get better data shoved through the pattern. In that same sense, as I've been watching like a great one just in the context of like VFX, there's something called neural radiance fields. And it's a new model that rather than creating like a 3D, like one of the things that has been really big in VFX for 20 years or so kind of since the Terminator era of like OCG is getting really crazy, you know, Jurassic Park is one of the things you can do is you can do like image scan. I can walk around something and I can take a bunch of pictures of it and then put it into a program and it will recreate like a 3D image of it with like the texture. And it's like decent, right? Like like it's good enough that you can then get it ready and put it in a 3D environment and then get your lighting right and all of this stuff, but it's still really involved. You still have to have a lot of VFX work and composite.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It is. It is. And they're going to understand the foundations that actually force them to think differently. Because the AI is going to be able to reflect on that. And without any bias or caring or thinking about emotions, they're just going to be able to tell you flat, well, this is, that's because this changed sort of thing. And when those sorts of weights and patterns are established and added to the models rather than just like a flat relationship between words or a flat relationship between pixels or something. I think that's where we are right now is that we have this plateau where we've kind of reached the point in which the LLMs are going to get better because we're just shoving more data into it. And we have some incremental improvements, which will still seem like order. Like I'm not saying that it's not going to get better, but quality is going to, and quality and curation is going to be a huge part of this, which I think it just so.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“When the fact that we're going to be thinking about how we think they're going to grow up, like my son and probably all the rest of them that aren't here yet are going to grow up understanding or being able to reflect so deeply on how they thought about something last week and how it changed this week, which generally no one is aware of at all. There's just no scope of understanding or able to reflect at that layer that we've ever been able to.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“AI and these LLMs and these pattern recognition models are going to do is have us think about the way that we are thinking. Like what's the principle behind what I'm thinking about? How do I make it understand my moral foundation? Like what's the premise that is present in the way I am taking this thread of thought? And when we figure out how to make a mathematical relationship between those things and a general probably probabilistic how does this word relate to this word that's where the innovation is going to come from is abstracting in an entirely new layer. And I thought about this thing like my kids, you think your kids are always going to know technology and stuff better than you. And you're like, ah, but I'm going to stay up to date on this stuff, right? Like I'm going to use all the new tools and, you know, they're going to come to dad when they need to install this or understand this. And then I just think about it the other day.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That never really had the air to the space to air their grievances or to debate or push back against what the consensus was suddenly had space, suddenly had suddenly could spread like wildfire and a million people could have access to it. And the cable news didn't have to put them with 15 seconds on the news. You know, like you actually had nuance. And because of that, our ideas and all of our thinking just split up into a million different billion different ways and directions. And the internet just like turned that into an ocean from like a consensus of just a few things and just a few cultures to basically anything that you could think of. It's there. What AI is going to do is where the internet and the digital environment got us to reflect on what we thought about and it's changing and forcing us to realize that things we thought we true aren't true.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Bitcoin terms or something like that to correct what I'm actually thinking about, like those sorts of things. There's this kind of like magic of these whole other layers. And that's actually going back to the way models, we think about the models more generally, like how these things work is there's going to be like real magic innovation is going to occur in how to layer these things and how to understand that analogy is where we were in the digital space and the internet was we opened up this space where we could all collectively think together and we all started doing this massive amount of thinking that we've never done before and reflecting on ideas and our ideas and what we believe started clashing into each other and we started screaming each other on social media and all this stuff and we had this massive identity crisis because suddenly this cohesive narrative about what was true fell apart. All of our”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Huggingface.co is kind of like the GitHub of all AI models. And I'm trying to get into this space. Like it's easy to talk about and people understand the interactions with LLMs, like ChatGPT and then image diffusion or whatever, because there's this obvious like right in your face sort of use case or reaction that you have with it. But there's also this entire scope of these other models, like vector models and categorization models and like all of these things that are more kind of like back end. So how you're interacting with them is not exactly like just trying to make sense of a knowledge base or making corrections in like bad grammar or they think no student every time I say no ster on a podcast in my transcription it says no store you know S-T-O-R-E and like how do I how do I get a model to understand that that's a mistake and go against a knowledge graph of like”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The two best places to keep up with what's going on with AI, which sucks in a lot of ways because these are hard to navigate for normies. But it's not terrible. If you're trying to keep up with where the real innovation is happening, GitHub. And if you're looking for models specifically and you want to know what the best models are, it's huggingface.co huggingface.cove.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Because the Falcon 7B model was really big for a little while. And I was like, okay, I got to figure out how to install and use this on my thing. And it was like a week before I was trying to figure it out and something else replaced it. And it was like, it wasn't even, it was like, it was like number seven or something like that. And I was like, I hadn't even installed it. I don't have time to install the thing.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“There's a new one. There's a new one every 30 seconds And so many of them are running their own models because they do want to train it, they do want to give it that specific feedback for whatever their thing is or they want to do the LORA or the LORA on their image diffusion or whatever it is. They're dropping the open AI API. And that's another example of like being disrupted before you even completed your cycle is open AI is already on the downstroke. And this happened late 2022. You know, it's like November or December that this like whole thing just kind of blew up and they went to billions of visitors and now they're dropping like they're they're already on the way down because everybody's already kind of extracted how they operate and created a thousand alternative platforms and a thousand specialized models for God knows what. I mean, I can't even like I get excited about something that like got that hit the leaderboards of the open source models on hugging face that like”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But I am actually going to read some articles that I just want to talk about when either I can't find a guest to specifically talk about this topic and I just got to get it off my chest. But right now, the only read, the inaugural read, is that piece. Oh, perfect. It's called from a Google engineer, we have no moat. And neither does open AI. So that's the title, and I'll send you the link. It's obviously only on the podcast version of the show, not The YouTube version, but it's great. You should definitely, I mean, it's outdated instantly, you know, as soon as it was published, like three days later, it's missing some major pieces of the puzzle. But I think it's a brilliant framing and to see how quickly it went against them and how quick. I mean, you think about it.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“The only read that I have on AI Unchained. So I'm not making it AI on Chain like a show where I point audible, you know? Yeah.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Thing and then you go through another phase of technological disruption. Well, I think these are going to start squeezing closer and closer and closer together to the point that when we think of, oh, this next company is going to be billions and billions of dollars and it's going to control and run everything because it's the new platform, it's the Facebook or the whatever of this new era. I think before you even get to the point in the curve where that is clearly this is the successor and this is the new winning platform or idea, the next idea is already going to be here. Like the next piece of the puzzle or the next process or platform or whatever that's replacing them like it's just going to the whereas we kind of separate out horizontally, we're also going to suddenly just split up vertically and in like a massive massive way where the people in the process of disruption and the systems and the process of disruption are going to be disrupted.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Disruption is just going to kind of become a permanent part of everything. Like, we're just going to kind of move into this layer where there's less innovation or there's less need for innovation on the actual individual pieces because there's this whole new scope of just like, how do we put the pieces together? Like recreating the entire puzzle over and over and over and over again rather than having a set puzzle that everybody's trying to implement. So because of that, I think like to use an example of like the last paradigms where we see these happen over 20 years, right? Is you have these huge companies become out of nowhere in the digital space and music subscription finally took off and iTunes or individual music selling individual songs and iTunes blew up now they're they're the dominant player they disrupted the old institutions and then subscriptions with a music killing the radio and then table tv and youtube and all of these things you get this whole new model and then you get another big giant”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“So, the broader your capability, the more generic your capability of accomplishing these things, the better. Because then you're extremely agile and you can move very quickly and respond to the environment, to the ecosystem rather than kind of become this permanent, I have to do it this way. Well, in that same way, AI is a way to instantly retrain your processes and all of your administrators and all of your tools and all of your software without having to go through the training process. So the bigger and the more settled you are in how you go about doing things in the structure itself, the worse this is going to hurt you. Because I think we're going to start, things are going to start changing so fast and we're going to come up with new ways of iterating and thinking about how to do the processes at all and how to set up the idea of an organization is going to move so quick that I think”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And iteration on the process, the idea of processes, the analogy I used in the talk was that it's like a 3D printer for how to accomplish things. 3D printing and additive manufacturing makes it so that you don't have to retool for every individual product, right? Like crypto cloaks, they can just come out with a new product or a new design or a new thing and just immediately start selling it because they've got like 20 3D printers and they can just put in a different file and now they're making a completely different tool, gear case, you know, whatever. It created this if you're disrupting the product, they no longer have to retool.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Because there's a feedback loop that if you put money into new money into one specific area, well, then that's where all the inflation is going to be. And it's going to appear to have these outsized profits. So that's this major re-centralizing force that this era of disruption that has been pushing back against this era of disruption and kept big things big and billion-dollar corporations and government institutions in their place, even though the technological force is actually trying to break them down and split them up. But I think that's essentially falling away. The bigger and bigger the challenges for fiat, both payment rails and just how far can you push the debt Ponzi as these things kind of get stressed to their absolute breaking point, all of that's going to come crashing down. But at the exact same time, you have AI, which rather than being a process in itself, it's a way to create this open idea.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Always as big as just easy to invest in, big is always if there's 10% inflation, well, they're going to go up by 13%. Why? Because everybody invests in them with the newly created money in order to be inflation. So it's a self-fulfilling prophecy. The very notion that we're creating money and then trying to figure out where to put it to be inflation just means it's concentrating, which means that there's going to be in that concentrated area something that beats inflation way better than everything else. That's why you get these huge bubbles like in housing or whatever it is.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That's not sustainable Google does not even have anywhere near the possible margins of a company that's still at 100,000 users or 20,000 users or something like that. They have a 300x capability to increase and grow if they've got a genuine new innovation. Google's gonna go 3% tops. They're already too big. But they're going to go 15% if they get all the new financing and they can buy up all the new startups. So they appear to be more profitable as an investment than they actually are. When in fact it's just the fiat apparatus is far more likely for all of the new funding at the non-genuine interest rate and the money printing machine is just going to go to the big first. So they're going to win in an outsized way against inflation always.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And so rather than having this disruption phase where all of these small agile startups that are really innovating and coming up with new things, replacing them, what you have is they just try to get big enough to get balt. But you think about it in a non-fiat world, that doesn't make any sense. No.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“But then you have these constant iterations of new ways of doing things and new ways of thinking about production. And if you've got a billion dollar corporation invested in 10,000 like assembly line like finely tuned production processes, and then you have a really serious fundamental change to how that tooling works, you have far and away got the largest expense for retooling. You have a big problem on your hand. And this is why like fiat finance is such a centralizing force because one of the things you see these big corporations doing is not spending all their time updating. And, well, I mean, they do, but it's actually a second order effect from their primary method is buying the small startups that are is they can get financing with newly printed money so they can get it at interest rates that make no”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Like one central institution. No government or corporation is going to outcompete the market at large. Long enough time scale. It's just not going to happen. And then at the exact same time, one of the big diseconomies of scale of these billion dollar corporations is the speed that the economy changes. So, you know, when the Industrial Revolution happened, you have this like big wave of disruption. And now there's all these new business models and new ways of accomplishing things. And then you have 50 years of basically implementing this at scale. Like it's just a massive orchestration in order to change all of the handmade processes and put in the assembly line processes.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Like models or the way they're thinking about models, I'll come back to that. I'm going to put a pin in that the way they're thinking about models So you can do these micro adjustments. And then there's websites hugging face, civet AI, like all of these things that collect these as like a big community of all these open source micro trainings. And then they take the big open source models and they take like a thousand great micro trainings and they retrain the big model. And now the big model is better at doing all of these very specific things. And I think, again, going back to, let's look at how some of the base fundamental realities, like fundamental truths, a group is going to be a whole lot better at specializing and learning, like a community than one central group.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And then now imagine that so the analogy that I think the LLM, the language model space is heading into that we've already seen in the image space is something referred to as LORA or LORA, but it's L-O-R-A. It's low rank adjustments. And what it is is it's hyper-specialized training. And all of these people would just like a little bit of GPU power. In fact, like that's one of the projects that I want to tackle when I get this machine up and running. is I want to make my own Laura for just to do it, right? And Corridor Digital has some great videos. They're a YouTube channel. And they have some great videos on like training. Like they just take a bunch of pictures of themselves and they train it to recreate images of themselves. And then they can create anime characters of themselves and put them in this environment. It's really, I mean, there's going to be a VFX revolution. The AI, the image generations, and some of the new.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It makes a whole lot more sense, like in your example of the financial fraud, makes a whole lot more sense to take a base LLM that's great already. Just add in all your financial information. Like, take the best open source model out there. And because it already understands talking, you don't have to worry about it understanding the language. And now give it this smaller adjustment on your high quality data set about financial fraud. And then it will be able to do all of those other things, but be specialized in understanding and recognizing financial fraud, but still have that same general sort of, I'm just looking for what the most likely fraud cases are right now to start investigating blah, blah, blah, right? Like it's still got the general language model handled.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“If I had to fill out a form Nobody had to literally have a public key to log in with you shoot some stats, you shoot six cent worth of sats, you get five cent worth of computation back And it's instant and done. And I don't even have to have a relationship with them. And I can give them exactly what they want with no barriers, with none. And then going back to the elements of open source and the idea that we can train these models to be hyper specialized and we can incrementally change them, you're also looking at an ecosystem that's going to be learning from each other rather than constantly redoing everybody's work. When you're retraining these things, and we're talking about hundreds of thousands, millions of dollars to make a decent model.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“If I have a $50,000 bill overnight from somebody's absurd API request, but I accepted only SATs and I made $50,500 off of it, that's a great morning. That's a great way to wake up. And nobody, again, like going back to the merchant services thing, I don't have to have any barriers. I don't have to have any like, oh, God, how do I sort out the noise from the fraud? How do I make sure that these thousand charges aren't going through? No, just accept that. And from the user side, nobody even had to sign up.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Proof of work is still proof of work. And if you're delivering a bearer asset where those APIs to read an article or watch a movie or download something or order something online could easily be negated and batched together with all those other people, when that's different with the API for an LLM and that cost is instantly delivered and irrecoverable, well, then if you can accept instantly delivered payment for that cost, who cares?”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Doing wrong that has given us this thing, this massive contorted band-aid nailed together, duct taped thing that doesn't actually fit in our world. But at the exact same time, there's going to be a whole bunch of Bitcoin errors that have the best user experience possible that decided to drop the whole KYC crap from the get-go because they already had a social graph based on keys. So that's it. That's your head start. Like, if you have a system based on public and private keys, hard problem going back to those base realities that AI doesn't change, hard problems are still hard problems”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“This new, it's just, it just is not going to hold up. And I think it's literally just the lack of knowledge about these tools and the fact that they're not widely accessible. Kind of like the future is here, but it's not evenly distributed. As it gets evenly distributed, we're going to see everybody siloed. Everybody's going to put up walls and have limited access to their APIs and the idea of the free internet is going to get further and further away. And we're going to have KYC, everything. And the user experience of the open web is just going to get crappier and crappier. And everybody's going to be sick of it. Everybody's going to be, the pressure has to build to the point where everything is annoying and everything increasingly sucks because of this imbalance until people are willing to go down to the base layer and just go back to the drawing board and say like, what are we?”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Your service with a fake credit card. And if you don't catch it, they can just pound your API all night and just burn through your GPUs. I mean, God forbid you're on AWS or Google Colab where it just automatically expands based on the request. And then you just wake up in the morning, you have a $50,000 bill. You just can't do anything about. And you got it on a credit card of like one person that used this, that scaled this with AI. Somebody's just running like a little simple model on their computer. And what they do is they took all the highest quality of their 800 or 1000 credit card information that they did online and went through and created fake IDs and fake personas and fake.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“That's where we are. I think KYC is, you know, trying to sell a full album. And not letting you buy per song or have a subscription or whatever it was in the 90s and with the growth of file sharing is that it's just out of balance with the way technology is. And the new reality will not let it exist on a long enough time scale. But in the same way that copyright and everything got way worse and the crackdowns and the lawsuits and the you couldn't seem to get any good music anywhere online for this huge scope of time. And then when one service did pop up, it got shut down within six months. So you're constantly having to change stuff. I think that's kind of where we are with KYC right now. Everybody's going to KYC. Everybody's just going to get so much worse until the user experience of trying to use any like the barrier of just setting up another subscription or trying out some sort of service. Like free trials are going to start going away because if it costs you eight cent immediately and somebody can just bail out on it, like you're talking about an API where somebody can just kind of plug into.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And it's just kind of this like we started with kind of credit and pull based payments online and it worked good enough. It was out of balance with the way the technology worked, kind of like selling CDs in the era of file sharing was out of balance. And then they just kind of kept trying to add a new piece to it to still make it fit to kind of contort it, to shove it into this new reality and let the old system keep working.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“It's getting to the point where just signing up for a basic service that I just want to try for like 30 seconds to see if it's any good is becoming, it's starting to behave like setting up a bank account, like in physically in person. Like it's a nightmare.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And identity is just kind of KYC is just kind of this band aid. And it's been the universal tool, right? It's been the tool for this all along. That's why Twitter is KYC seeing everybody is because they've just had such a huge bot problem that they just sick of it. And they're trying to solve it the way that they think they can solve it. But the solution, the KYC solution is already outdated. But that's why I think this is all going to get way, way, way worse before it gets better because the user experience, I mean, how crappy is the user experience of having to take a selfie and hold up your ID and wait for identity verification and plugin, go to some other website that it's like, we're connecting to IDME dot org or gov or whatever and like go through this lengthy process and fill out another form.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“They don't understand the relationship and the whole framing is like they're not asking about which money should they use. They're asking about which payment method they should use, right? They're trying to figure out the fraud problem, not recognizing that it is a credit problem, that it's an identity problem”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Like APIs are free enough with all of the other things that you can just kind of hide that. You can obscure that cost away and just kick off the customer that's trying to freeload or using a stolen credit card. Or if you're selling like a physical product and you figure it out in two hours, you just don't ship the product. If you could ship the product within a second, well, then you'd have a problem.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“And it's just a huge computational cost. And trying to put together a machine myself, I can tell you how much it costs to get that computation. Like it's a thing. But the cost is immediate. That's never been the case with APIs. Like if you're selling a physical product online and you get a charge back in 20 minutes or you find out it takes you 40 seconds, even if it takes you 30, 40 seconds to figure out that a charge is fraudulent or with a stolen credit card and you don't even execute the full charge, but you go ahead and give them the subscription. You go ahead and give them access because you don't want to lock out a customer. You don't want to screw the customer experiences. Wait for three hours while we figure out whether or not you're a real person. No, you just give you just let him go into the website, right? But it doesn't cost anything with like a normal website. Like to read an article, like it's just, again, it's all loss leaders.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Exactly What you're describing is the fact that the computational cost of the LLMs actually work like an instantaneously delivered bearer asset. They end up having that attribute. Sam Altman specifically said with OpenAI, and this is why OpenAI is on the struggle bus right now as far as their longevity, is that every single time you ask it a question, it costs five to eight cents instantly. Like you're just pumping power through a computational machine. It's like mining eight cent worth of Bitcoin, right? Yeah. Like you can't do that for free.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT
“Doesn't exist. They don't even have to plug it in. It's the Bitcoin side of the equation. They have to manage some channels for Lightning Node, or they're using an LSP and they don't even have to think about that because somebody else has offloaded that for like a tiny fee.”
2023-09-20 · We Study Billionaires · BTC148: Bitcoin and AI w/ Guy Swann (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT