Latest / Earn Your Leisure / Study Hall: Mike Novogratz & David Barry Discuss the Future of AI: Predictions & Insights

Transcript

Study Hall: Mike Novogratz & David Barry Discuss the Future of AI: Predictions & Insights · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will.
• 0:57
  Speaker 2: Be protected sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 2: So I wanted you to talk because you you didn't.
• 1:02
  Speaker 2: You look like you was about to say something, but
• 1:03
  Speaker 2: you're now opportunity to say.
• 1:04
  Speaker 3: Well, just in AI was I was going to just
• 1:06
  Speaker 3: say that I think it's also like a term that's
• 1:09
  Speaker 3: batted around in this way that it's like what really
• 1:12
  Speaker 3: is AI? Because AI, to me really is like machine
• 1:15
  Speaker 3: learning where machines are teaching it. You know, a lot
• 1:18
  Speaker 3: of what masks as AI in some ways it's just
• 1:21
  Speaker 3: like complex algorithms attached to the large language model, right,
• 1:25
  Speaker 3: But it's I think we're still a ways away from like,
• 1:29
  Speaker 3: I don't know where the definition of AI or the
• 1:32
  Speaker 3: singularity actually becomes right, where it's actually thinking, making decisions,
• 1:36
  Speaker 3: teaching itself, and how far away we are I do
• 1:39
  Speaker 3: think just to you know, it's it's a pretty scary
• 1:43
  Speaker 3: proposition because I think it needs more ethical thought and
• 1:48
  Speaker 3: moral thought around where it's going. I think as a society,
• 1:50
  Speaker 3: it's too easy for us to just build Adam bombs
• 1:53
  Speaker 3: and then oh shit, one goes off, you know, and
• 1:55
  Speaker 3: so I think there's a lot of danger around I.
• 1:58
  Speaker 2: You know.
• 1:58
  Speaker 3: Harreeri wrote Sapiens and also had something like twenty three
• 2:02
  Speaker 3: Lessons for the twenty first Century and some books, and
• 2:06
  Speaker 3: in that like his theory is the industrial revolution replaced bodies,
• 2:12
  Speaker 3: and now the intelligence or digital revolution, culminating ultimately with AI,
• 2:17
  Speaker 3: is going to replace minds, right, and so in the
• 2:19
  Speaker 3: Industrial Revolution those jobs got replaced by programming jobs or
• 2:24
  Speaker 3: the people that make the machines and things like that.
• 2:26
  Speaker 3: And then you know, kind of where's the next thing?
• 2:29
  Speaker 3: If so, I think it's I think there's a lot
• 2:31
  Speaker 3: to think about it. I'm not answering from an investment
• 2:33
  Speaker 3: standpoint as much as just and you know, for my
• 2:36
  Speaker 3: personal company, I just look at like, is it in
• 2:39
  Speaker 3: a spot right now where in the foreseeable future it's
• 2:42
  Speaker 3: going to leverage a business return for me, it's going
• 2:45
  Speaker 3: to either have less friction, more market or how am
• 2:49
  Speaker 3: I applying it to the business in a way that's
• 2:51
  Speaker 3: meaningful and not just like, oh, let's just you know,
• 2:54
  Speaker 3: kind of put this new program in.
• 2:56
  Speaker 4: And but it's hard not to think that in ten years,
• 3:00
  Speaker 4: every kid will have an AI tutor, right, Like, if
• 3:03
  Speaker 4: you're rich, real rich, you hire a tutor for your
• 3:06
  Speaker 4: kid and he comes over to your house for two
• 3:08
  Speaker 4: hours a night or an hour two hours a week,
• 3:10
  Speaker 4: and he sits you your kid and he figured where
• 3:12
  Speaker 4: your kid is, what what what he needs. Like that's
• 3:14
  Speaker 4: going to get replaced by and then the kids that
• 3:17
  Speaker 4: grew up in Flatbush. Maybe I'll have the same access
• 3:20
  Speaker 4: to great education than the kids that grow up on
• 3:22
  Speaker 4: the Upper East Side. It hasn't happened yet.
• 3:25
  Speaker 3: Devil's Advocate though. When COVID came, I know it's not AI,
• 3:28
  Speaker 3: but people started computer learning and scores went down.
• 3:31
  Speaker 2: Could we have.
• 3:33
  Speaker 4: We haven't perfected or even kind of close to tutoring.
• 3:36
  Speaker 5: So my experience with AI is funny because like, I
• 3:42
  Speaker 5: don't know very much about it. I'm just like no one,
• 3:47
  Speaker 5: no one really. I mean, it's probably a couple of
• 3:49
  Speaker 5: guys that knows a lot about it. But I was
• 3:52
  Speaker 5: in the process literally when I built that studio. A
• 3:57
  Speaker 5: part of the reason for billing that studio was because
• 4:00
  Speaker 5: I wanted to start a publishing company. I was going
• 4:02
  Speaker 5: to raise like four or five million dollars to start
• 4:05
  Speaker 5: this publishing company, and the AI talk started happening right
• 4:10
  Speaker 5: around then. And a publishing company you primarily like sign
• 4:17
  Speaker 5: producers songwriters. You know, you may sign an artist and
• 4:20
  Speaker 5: it's publishing, right, but you make your money from producers
• 4:25
  Speaker 5: and songwriters. And I was like, you know what, I'm
• 4:27
  Speaker 5: like connected in every label I'll be able to play.
• 4:30
  Speaker 2: And I had.
• 4:30
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  Speaker 6: You ever walk into a small business and everything just
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• 6:22
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 6:25
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 6:29
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 6:34
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 6:38
  Speaker 1: some of the heinous migrant criminals caught because of President
• 6:41
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 6:45
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 6:50
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 6:53
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 6:57
  Speaker 1: were here illegally. Your next will be fine nearly one
• 7:01
  Speaker 1: thousand dollars a day. Imprisoned and deported, you will never return.
• 7:06
  Speaker 1: But if you register using our CBP home app and
• 7:09
  Speaker 1: leave now, you could be allowed to return legally. Do
• 7:12
  Speaker 1: what's right. Leave now. Under President Trump, America's laws, border
• 7:18
  Speaker 1: and families will be protected.
• 7:20
  Speaker 2: Sponsored by the United States Department of Homeland Security. Great blueprint.
• 7:24
  Speaker 5: And then I heard songs that AI wrote, right, like
• 7:27
  Speaker 5: the Drake, the Weekend song.
• 7:28
  Speaker 2: I'm sure you guys heard that.
• 7:29
  Speaker 5: I heard beats they produced, and I was like, Fuck,
• 7:32
  Speaker 5: I don't know if I'm right about this, but I
• 7:35
  Speaker 5: don't want to spend four or five million dollars building
• 7:39
  Speaker 5: up a business for the next because publishing takes about
• 7:42
  Speaker 5: three years before you hit that cycle if you do
• 7:46
  Speaker 5: it completely right right where money's coming in. And I
• 7:49
  Speaker 5: just didn't know where AI would be in the music
• 7:53
  Speaker 5: industry three years from now. Maybe AI's write and all
• 7:59
  Speaker 5: songs and there's no need for me to sign they
• 8:03
  Speaker 5: buried to write songs anymore. Right, So I'm like, do
• 8:06
  Speaker 5: I take a risk right now of developing and starting
• 8:11
  Speaker 5: a new business based on like humans right that I'm
• 8:16
  Speaker 5: realizing the very beginning stages of AI. They're doing it really,
• 8:21
  Speaker 5: really well, and maybe three years from now, AI is
• 8:25
  Speaker 5: writing songs for Beyonce or songs for you know whoever,
• 8:31
  Speaker 5: producing beats for Drake, and I don't have the technology,
• 8:35
  Speaker 5: and like he said, it's a lot of money to
• 8:37
  Speaker 5: do that. So I'd literally completely stepped back from that
• 8:41
  Speaker 5: business and decided to just focus on real estate, Bojangles
• 8:49
  Speaker 5: and music and just traditionally, like from a label perspective,
• 8:55
  Speaker 5: because not because I knew. It was just a gut
• 8:57
  Speaker 5: feeling and I'm just like, you know what, instead of
• 9:01
  Speaker 5: using all this money to do something I'm already unsure
• 9:04
  Speaker 5: about now, this AI thing put me in a position
• 9:07
  Speaker 5: where I just want to kind of wait and see
• 9:10
  Speaker 5: what happens, and I won't revisit that business. It's just
• 9:13
  Speaker 5: kind of passed for me at this point. But that
• 9:16
  Speaker 5: was my experience with AI recently, and again, hopefully I'm wrong,
• 9:20
  Speaker 5: because like you said, that had cost so many jobs,
• 9:22
  Speaker 5: so many songwriters producers out of work, which is fifty
• 9:25
  Speaker 5: percent of the music business. But from a label perspective,
• 9:29
  Speaker 5: if I had to pay and I'm just making this up,
• 9:32
  Speaker 5: if I had to pay Timbland two hundred thousand dollars
• 9:37
  Speaker 5: for a beat, and I could tell Ai, hey, I
• 9:39
  Speaker 5: need a beat that sounds like Timbland and it cost
• 9:42
  Speaker 5: me a fractic It don't even cost me anything because
• 9:44
  Speaker 5: I already paid for the program right effective as the label.
• 9:48
  Speaker 5: I'm gonna go with that, Ai. So I'm I'm. I
• 9:51
  Speaker 5: looked at it from both perspectives, and I just decided
• 9:55
  Speaker 5: to completely evacuate interests. Well, appreciate you guys.
• 9:58
  Speaker 2: I know you got to run.
• 9:59
  Speaker 5: How can?
• 10:00
  Speaker 2: And they watched the podcast? When will the podcast be available?
• 10:04
  Speaker 2: They be? You could answer that back to you.
• 10:09
  Speaker 5: No, we uh, we're shooting. We have like four we're
• 10:13
  Speaker 5: only doing seasons. No, we're doing twelve episodes each season,
• 10:17
  Speaker 5: and we have like maybe five done. We're going to
• 10:21
  Speaker 5: finish up in September, and we'll be sure to let
• 10:24
  Speaker 5: you guys know when where how but it will be
• 10:26
  Speaker 5: coming yell Okay, thanks a ton and this time. But yeah,
• 10:32
  Speaker 5: thank you guys, appreciate this is a really insightful conversation.
• 10:35
  Speaker 3: Is a great one.
• 10:36
  Speaker 2: Thank you for seeing you guys. Thank you guys, and
• 10:39
  Speaker 2: you guys will be on our ship. Sure it will
• 10:42
  Speaker 2: be a billionaire conversation by then.
• 10:52
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 10:56
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 11:00
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 11:04
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 11:08
  Speaker 1: some of the heinous migrant criminals caught because of President
• 11:12
  Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 11:15
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 11:20
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 11:24
  Speaker 1: one hundred thousand illegal aliens.
• 11:26
  Speaker 2: Have been arrested.
• 11:27
  Speaker 1: If you are here illegally, your next you will be
• 11:30
  Speaker 1: fined nearly one thousand dollars a day, imprisoned, and deported.
• 11:35
  Speaker 1: You will never return. But if you register using our
• 11:38
  Speaker 1: CBP home app and leave now, you could be allowed
• 11:41
  Speaker 1: to return legally. Do what's right, leave now. Under President Trump,
• 11:46
  Speaker 1: America's laws, border and families will be protected.
• 11:50
  Speaker 2: Sponsored by the United States Department of Homeland Security,