YouSaid · the spoken record

Jonathan Ross

lines on the record: 100
first: 2025-09-29
most recent: 2025-09-29
sittings or episodes: 1
sources: podcast

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“I think the things that scare most people are what excite me. And what I mean by that is everyone's afraid of what AI is going to do. I think there's a good historical analogy here, which is Galileo. A couple hundred years ago, Galileo popularized the telescope. He got in a lot of trouble for that. And the reason he got in so much trouble was the telescope allowed us to see some truths and allowed us to realize that the universe was larger than we imagined, and it made us feel really, really small. And over time, we've come to realize that while we may be small, the universe is grand and it's beautiful. I think over time, we're going to realize that LLMs are the telescope of the mind, that right now they're making us feel really, really small. But in a hundred years, we're going to realize that intelligence is more vast than we could have ever imagined, and we're going to think that's beautiful.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“And they've deployed an enormous amount of compute. So if OpenAI diversifies and gets their compute elsewhere, they have that compute now. Compute is like gold. If you have it, you have AI. And then Amazon, I think, doesn't have AI DNA. If you compare them, so you didn't mention meta, right? But meta and Google always had the AI DNA, and Microsoft bought it with OpenAI. But that bought them time. Amazon still doesn't have that DNA. But they do have compute.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“It depends on the timeframe. In the short term, Microsoft is resetting a little bit because of the open AI relationship. Long term, they're probably going to do fine again. I think...”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, although it's probably going to be different. Whenever a new area emerges, a bunch of people think that they're competing and they're not. All of these people creating foundation models think that they're competing for the exact same thing. What did anthropic do that was brilliant? They decided to stop competing by doing everything and focus on coding. And that's worked great for them. If you look at XAI, they have a social network and they've integrated their chatbot with that. I'm not going to use that chatbot for solving deep analysis or deep research problems. I'm not going to use it for coding. Now, they do have a coding model, but they don't have a coding distribution. Can they use that distribution?”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh my gosh, it's not so much that I've changed my mind, it's that I've changed what percentage of our business doubles down where. Every month we become more focused. Say yes to fewer things. What happens is the business just does better. I used to think that the most important thing was preserving optionality. Now I think it's focus. However, I think having that optionality early on was crucial so that we could play where we would be most successful. Now it's about focus”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I mean, there's a billion valuation for a precede pre-mote. You should call it premote. That's what the investors should denote it as.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Brilliant business decisions and the willingness to move fast. Most people right now keep asking themselves, is AI overheated? Should we double down on this? They just went for it. They're just aggressive. And that's what it takes to win. When everyone else is fearful, you should be greedy. And whenever everyone else is greedy, you should be fearful. Right now, there's a lot of fear around AI. What you're seeing, though, is there's a couple of greedy, really smart people, and they're making tons of money. And it looks like there's a lot of greed out there. It's just a handful of people that are moving fast”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“All three were A0 silicon. Only 14% of chips that are taped out the first time are A0 silicon. So that means there's an 86% chance each time that you're going to have to respin it. When we built our V2 chip, we actually already scheduled a respin for it. And we ended up not having to do it because to our shock, the first one worked. Like you shouldn't expect that. So that three years is if everything goes perfect. NVIDIA typically takes three to four years per chip and they just have multiple being done at a time. Grock is now in a one year cycle. So a year after our V2 is our V3, and a year after that is our V4.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, so the reason that I decided to go into chips, I did the Google TPU, but also before I left, I set a record on the best classification model like ResNet 50 with someone in Google Brain. We did an experiment. We beat everything. And so I could have gone in the algorithm side. And actually, when we were fundraising, I wasn't even 100% sure that I was going to do chips. I was like thinking maybe we do something on the algorithm side, especially in formal reasoning, which is good that I didn't. But the main motivation to go into chips was the moat, the temporal moat. So a question we get asked by VCs a lot is what prevents someone from copying what we're doing? And the answer to that is if you copy what we do, you're three years behind us because it takes that long to go from the design of a chip to a chip in production if you execute perfectly. I've done three chips now that are in production or ramping to production.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, it's true for training, but it's not true for inference. I mean, we have 2.2 million developers on us now. That's how many have signed up.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Our focus is purely on execution right now, whether or not you go public, that's a completely different game than we're playing right now. Right now, all that matters is can we satisfy the demand for compute?”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“We could just double the rate at which we're building out supply. With this fundraise, we ended up raising more than twice what we were expecting to raise. And then we were 4x oversubscribed over what we did raise. And so we could have raised a lot more money. It would have been more dilutive. And I'm trying to be dilution sensitive for investors and everyone else. But on the other hand, we could have just raised more money and we could have just built a ton of compute. The other advantage that we have is versus anyone else, our cost per token, especially given a speed, is very advantageous. So we know that we can charge less than the rest of the market, which matters when you're trying to build these businesses, not because people are spend conscious. If we lower what we charge 50%, people are going to buy twice as much. They're spending as much as they're making because whatever they spend increases the quality of the output.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Because there are thresholds. So, for example, if we had doubled the capacity, we wouldn't have won that customer. They needed 5x. It's not enough to have twice as much. We have to have enough. If we double the capacity, do we have enough for those customers?”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Like I said last week, someone came to us and asked for five times our total capacity. Here's the only reason we don't just completely double down on yourself.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I'll rephrase that to where could I increase risk in the business? And where we haven't, we could double our orders in our supply chain. Yes, we have a six month supply chain so we can respond to the market faster than anyone else.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Which means that their cost is higher because even if the SRAM is 10 times more expensive, they're using 500 times as much memory in the DRAM. This is one of those classic problems of looking at it from a”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“So I'll keep it super simple, but this isn't technically accurate. SRAM is the memory inside of a chip. DRAM is the external memory. It really has more to do with how you design it. So SRAM has three to four times as many transistors or capacitors, just transistors for SRAM, than DRAM. DRAM is a capacitor and a transistor. SRAM is six to eight transistors. So SRAM is inherently larger per bit, which means it uses more silicon. Therefore, it's more expensive. You're also deploying it on a more expensive chip, like a 3 nanometer chip, so it costs you more per unit of area than DRAM. So there's a multiple. Maybe it's 10 times as expensive per bit. The thing is, when we're running a model like Kimmy and we're running it on 4,000 of our chips, you're running that Kimi model on eight GPUs. We're using 500 times as many chips, which means the GPUs have 500 copies of that model, which means they're using 500 times as much memory.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“The question I get asked the most is isn't SRAM more expensive than DRAM? The answer is yes. A good way to think of it is SRAM is inherently three to four times as expensive per bit. Inherently.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, it changes every month. It used to be we couldn't have multiple users. And then we demoed multiple users to people on the same hardware, right? They used to think that we.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I personally would be surprised if in five years NVIDIA wasn't worth $10 trillion. The question you should ask is, will Grock be worth $10 trillion in five years? Possible? We don't have the same supply chain constraints. We can build more compute than anyone else in the world. The most finite resource right now, compute, the thing that people are bidding up and paying these high margins for, we can produce nearly unlimited quantities of.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, there is huge value in being a brand. You get to charge more. However, it makes you less hungry and you're going to start charging high margins. And some people are going to pay it because no one's going to get fired for buying from NVIDIA. It's a great place to be in. That business is going to remain incredibly valuable. If you're invested in NVIDIA, you're probably going to do okay. However, if you're looking at it from the customer point of view, when you have customer concentration like we're seeing where, you know, 35, 36 customers are 90%, 99% of the total spend in the market, they're going to make decisions less on brand and they're going to make decisions more on what makes their business successful because they're going to have more power to make those decisions. So you're going to see other chips being used because those companies are going to have enough power to make decisions themselves.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“My prediction is that in five years, NVIDIA will still have over 50% of the revenue. However, they will have a minority of the chips sold, you know, minority share. They might have 51% of the revenue, and they might have 10% of the chips sold.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“No, no, I'm going to say what I said earlier, which is I want our margins to be as low as our business remains nonvolatile. So the only reason for a high margin is because you want to have the ability to bring in cash when you need it. And all you need is the ability to price higher if you need to in order to be able to lower your margin. The demand for compute is so high that if someone came to us and said, I need this compute and we have it, they will pay a higher margin, which allows us to charge a lower margin.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“When we sell software, it depends on the model. So our most popular models on the chip that we're ramping up now are positive margin. But we do have some models that we run that beat the OPEX, but we're not happy with the CapEx. Others would be happy with the Capex, but we're more conservative. It's just easier to say when we sell hardware, we have positive margin because you know it at that moment. We might have positive margin on even our least profitable models because we just don't know how long the hardware is going to last.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“It is, in fact, we were only going to raise 300 million. You brought up the question of profitability and all that. The hardware companies are in a good position because unlike these other companies, we actually make money off of what we sell. When we sell hardware, those hardware units actually have positive margin.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“That is the natural tendency of a very successful tech company. They start to do what their customers do, and they move up the stack and then they subsume what their customers did. And then there are new people who build on top of them. OpenAI, I think on your show, Sam Altman said something about how if you're just doing like a small refinement on top of OpenAI, you're going to get overrun or whatever. He was just being very honest. That's what they do. In our case, we found an area where we will not compete with our customers, which is we will not create our own models. We just won't do it. And by putting that line in the sand, we're saying it's safe to build on our infrastructure, right? Because we're not going to go after what you do. That may be the wrong call. We may find that we're subsumed by one of our customers, but it also means that you can trust that you can build on us. I could be making a huge mistake on that call.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think the current tech companies can increase their value significantly, but I don't know why they couldn't increase their value significantly while the AI labs catch up to where the current technology leaders are. The MAG 7 is going to increase in value.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I'd want to invest in both. They're both undervalued, highly undervalued. You're still looking at them as if they're competing in a finite market for a finite outcome when they're actually increasing the value of the market with the more R&D that they do.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“A lot of the people you interact with are like that. Enterprises make these long-term deals and they stick with whatever their deal they made a year ago.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Our engineers are cutting edge engineers who will switch to the best tool the moment it's the best tool. Not everyone is like that.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah. And it's funny because it's almost on a monthly basis. So we have a philosophy. We don't tell our engineers what tools to use. We do tell them you must use AI because otherwise you're just not going to be competitive. But we saw them using SourceGraph. We saw them then using entropic. We saw them then using codecs. Next month it'll probably be source graph again. It just keeps going around and around in a circle.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“OpenAI and Google. Anthropic does something different. Anthropics doing coding. OpenAI is doing a chatbot. Google's doing a chat bot. Google's also doing coding. Google's doing everything.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, at this point, it would be hard to imagine a scenario where OpenAI goes away. I don't see how that happens. And so at the very least, you have two competitors from this point on going at it.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Less so, I mean, you see like random Gemini introduction into each product is like, it's in Gmail, but it's practically unusable. It's in pretty much every product and it seems thrown in kind of half thought through. But you shouldn't judge that yet because at least they're getting exposure to how people are using it and they can use that to figure out what they should actually do. I mean, what happened with Google Chrome, right? Like it was originally Google TV, it was a total flop. And then they iterated and they turned into Google Chrome. This is the classic problem where someone puts something out there, everyone throws darts at it, and you don't realize that they're just willing to take those darts in order to build a better product.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I would say Google has probably done the biggest turnaround and they had a structural advantage in that. So Google historically has depended more on their engineers to come up with good ideas. And as long as management gets out of the way, great things happen at Google. And so I just think from a cultural perspective, that's a systemic advantage. And for them,”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“It's definitely much more aggressive than it's ever been in history, but only in tech. When you look at sports, sports have always been insane, or at least recently been insane. Like you look back 20 years, 30 years ago in sports, the salaries looked a lot like tech salaries. People are just realizing the value. The problem is in sports, you have a limited number of teams. You might even institute a salary cap and things like this. In technology, we're not doing that. You have an unlimited number of teams, an unlimited number of startups. Just imagine if anyone could go create their own football team. What would that do to salaries? And what would that do to the value of the franchise?”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, please stop doing that. No, no. But AI is making people more productive. So it might be possible for the economy to keep ripping and for all of the companies to continue being very successful. We don't know. We've never been through this before.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“And so, in the economy, you don't have to do anything other than move dollars around. So you have these very sort of fast twitches in the economy based on people's ability to predict, which makes it unpredictable. I can't tell you what's going to happen in the economy. All I can tell you is that right now, the biggest problem I see in AI is if you see a good engineer, one that you would have hired before, they can go out and they can raise $10,000, $20, $100 million, a billion dollars. And then rather than contributing to one of the other AI startups, they go create their own, which means that you have difficulty in getting critical massive talent in any one of these AI startups. On the other hand, AI is making everyone at one of these startups more productive. So in terms of whether or not the economy is overheated, I think one of the best predictors of that is the economy getting in the way of the success.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I can't predict whether or not there'll be a downturn. The ability to predict something is largely dependent on whether or not predictions affect predictions. If a prediction affects the prediction, you cannot predict it. Because whatever your prediction is changes the outcome. The only things that are predictable are things where the predictions don't change the outcome. If an asteroid is headed towards the Earth and we see that, if we don't have the technology to stop it, then it's going to happen. But if we see that happen and we can predict it, then we might develop the technology to stop it. Do you see the problem?”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, and this is independent of the value of AI. This is the sort of control system theory of what's going on, right? So a stock market could inherently be on an upward trajectory. It can overheat. And that overheating causes it to run away. People bid things up. They realize they've made a mistake. And then it has to come back down. And then it dips below where it should be. spending retreats, then people don't have the funds they need to build a businesses. A lot of good businesses can die during one of these downward trends. But this is also where the best businesses are made. How many times do you see a downturn and a ton of amazing businesses come out of it?”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“In the market. Some of them are just playing the popularity contest. Others are looking at the value and they may come to the same conclusion for different reasons. Coming at it from the value point of view, the weighing machine point of view, the most valuable thing in the economy is labor. And now we're going to be able to add more labor.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“There's two components to the value. One is the weighing machine and one is the popularity contest. There are some products that are pure popularity contests, like crypto. I have never bought a Bitcoin. Why? Because I can't play in the popularity contest. I'm not good at it. I don't know what's going to be popular and what isn't. All I can do is I can see value. When I look at AI, I see real value being delivered. Best example. PE firms are all over us. They want access to cheap AI compute because every time they get more cheap AI compute, they can change the bottom line of their businesses. It has real value. When PE firms go after something and see value in it, it's not a popularity contest. It's pure value. And so what happens is the reason companies get a large multiple is people see that the actual value is going to accrue or they get hype cycled on it and it's pure popularity contest. And there are different participants.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Let's step back and use your Canva example. Successful businesses don't watch the bottom line. They watch their customers. They solve problems that their customers have. If you are competing, you are doing it wrong. You want to differentiate. You want to solve a problem that your customer has not solved yet and can't solve any other way, and then they're happy to pay you money. That's how it works. You solve their problem and then your cash flow is solved. Someone spending on AI, if you just look at the balance sheet, that doesn't make sense. But when the customer is very happy and they're solving a problem that they couldn't solve otherwise, first of all, you're increasing the TAM usually with AI because it makes the product so much easier to use. Did you use Photoshop two years ago? Impossible. Now, if you want to generate an image, you just explain what you want. That increases the TAM. You may be able to charge less per photo, but your total revenue increases. Your total market increases.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“10x the sales. That's just the way it works. As long as we keep bringing the cost down, people are going to buy more. I want to keep bringing that cost down. I want to keep increasing the volume. And I want to keep selling more for less so that people get more value out of their business and they buy more and that cycle continues.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“But then logically, why not use up your brand equity? Why not use the trust that your customers have to sell them things that aren't good? Brand value, brand equity has value. You want to keep your brand equity as high as possible because trust pays interest. And similarly, you want to keep your margins low enough that you're building up this sort of equity value with your customers where they know that you are giving them a good deal. When you charge a high margin, you are at odds with your customer. You want to do everything that you possibly can to align with your customer. I want my margin to be as low as I possibly can make it while keeping my business stable, and I'm going to make my cash flow by increasing the volume. One of the things that I love about the compute business is that the need for compute is insatiable. It's Jevin's paradox. If we produce 10x the compute, we will have”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“I think you want the ability to have margin and you want to give it to your customers and you want to give them an advantage. And if you have the ability to take that margin when it's needed, then you're in a great position. So we hired this amazing CFO recently. But I remember talking to a previous candidate when we were talking about margin, they said that we should price so that our supply met our demand. In other words, they wanted to increase the price in order for the demand to come down.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“First of all, you do have to have profitability in the end, or at least break even to be an ongoing concern. At some point, you can't just keep raising money. Even Amazon had to start making some money. The real reason why you need higher margins is volatility. Because if you have a razor-thin margin and the market moves, you may not be able to raise more money, you may not be able to get a loan. And so what a margin does is it gives you stability and staying power in the market. On the other hand, what it does is it also gives competition the ability to enter. Your margin is my opportunity. And so what you're trading is stability for a competitive mode. That's the decision that you have to make.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“The problems that we software engineers discover over time, they started getting feedback from their employees like, this feature doesn't work, this thing doesn't work when I do this. All the little edge cases. And then he just started fixing them all through vibe coding.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“So let's take reading. Reading and writing used to be a career. If you were a scribe, you were one of the small percentage of people who knew how to read and write and people would hire you just to record things and you did much better than the average person in the economy because of that because it was a specialized skill. Coding has been the same thing. Very small percentage of the population did it, took a couple years to learn how to do it well. Some people were really good at it. Now everyone reads. Everyone writes. It's not a special skill. It's expected in every job. And coding is going to become the same thing for you to be in marketing, you're going to have to be able to code. For you to be in customer service, you're going to have to be able to code. I was having dinner with someone who runs a chain of 25 coffee shops, has never coded in their life. And they vibe coded supply chain tool that allowed them to check inventory. They didn't write a single line of code. They got it to work. And it was funny because they discovered all”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source
“Definitely help all of the moves that have been made are things that are going to help with AI. For example, the permitting issues. Overall, it's been a very positive experience on AI.”
2025-09-29 · The Twenty Minute VC · 20VC: OpenAI and Anthropic Will Build Their Own Chips | NVIDIA Will Be Worth $10TRN | How to Solve the Energy Required for AI... Nuclear | Why China is Behind the US in the Race for AGI with Jonathan Ross, Groq Founder · IDENTIFIED FROM THE TRANSCRIPT · source