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The Block launches standalone AI website The Latent · The Starting Block

0:07
Welcome back to the starting block.
0:09
Happy Tuesday to you wherever you
0:11
are joining us from today.
0:12
It's a big day for the
0:14
block as we officially announced the
0:16
launch of our sister site,
0:18
The Latent.
0:19
I've got Adam Jane's publisher at
0:21
the block joining us a little bit
0:23
later in the hot seat to talk to us
0:24
about this new website and
0:26
everything you can expect from
0:28
that platform and what we'll be
0:29
covering.
0:30
But really exciting today for,
0:32
exciting day for everyone here at
0:33
the Block and a big congratulations
0:36
to all involved.
0:37
In the launch of the Latent, which
0:38
we'll be telling you about a little
0:40
bit later in the show.
0:42
Before we do that, we're gonna go
0:43
with regular programming today.
0:44
We've got the Block briefing, where
0:46
I'm gonna give you a breakdown of
0:47
the top stories you need to know
0:49
from the Block's editorial
0:50
coverage of fantastic journalists
0:52
working hard every day, keeping you
0:54
informed, and we make sure that we
0:56
highlight the best stories from
0:57
that. And then I've called up Andre
0:59
Dragos from Bitwise Europe
1:01
to talk to us a little bit about why
1:03
Bitcoin is above $85,000
1:05
for the first time.
1:06
Since the beginning of the year.
1:08
A lot to unpack in today's show, but
1:10
we're gonna jump straight into the
1:11
block briefing first, and then we'll
1:13
be moving on to Market Pulse with
1:14
Andre Dragos. So, your first stories
1:16
of the day.
1:17
The institutions are piling back in.
1:19
US spot Bitcoin ETFs pulled
1:21
in nearly a billion dollars
1:22
yesterday, 999
1:24
million to be exact.
1:26
Their biggest single day haul in 11
1:28
months as Bitcoin punched above
1:30
$87,000.
1:32
BlackRock's iBit led with 381
1:34
million followed by our.
1:36
ARKB and Fidelity's FBTC
1:39
Ether funds joined the party to
1:41
taking in 275 million,
1:44
their best day since last October.
1:47
An analyst point to renewed risk
1:48
appetite, strong ETF demand and
1:50
a wave of short covering after
1:52
Bitcoin broke through technical,
1:54
key technical levels.
1:56
Our next headline, two stable coin
1:58
heavyweights are tying the knot
2:00
tighter. Binance has bought
2:01
$100 million stake in Circle,
2:04
the issuer of USDC.
2:05
Snapping up about 1.2
2:07
million shares at just under
2:09
$81 a piece,
2:11
according to an SEC filing
2:13
earlier today.
2:15
The deal closed alongside a new
2:16
five-year commercial agreement to
2:18
expand promotion of USDC
2:20
across Circle's smart wallet
2:22
infrastructure.
2:23
In return, Circle will pay Binance
2:25
a monthly incentive fee tied
2:27
to USDC usage.
2:28
It's a notable deepening of ties
2:30
between the world's largest crypto
2:32
exchange and one of the biggest
2:34
names in stable coins.
2:36
Then on to some Bitcoin news.
2:37
Michael Saylor is still stacking.
2:40
Strategy, the company formerly known
2:41
as MicroStrategy snapped up another
2:43
950 Bitcoin for
2:45
$76 million last week at
2:47
an average price near 80,000.
2:49
That pushes its total stash to
2:51
846,000 Bitcoin
2:53
with roughly $72 billion,
2:55
more than 4% of the entire
2:57
21 million coin supply.
2:59
At current prices, that's around $8
3:01
billion in paper gains.
3:02
Saylor summed up the buy-in classic
3:04
form, calling it quote.
3:06
A little more orange.
3:07
Then Fundstrat's Tom Lee says the
3:09
crypto bull market is already here.
3:11
His Ethereum treasury company
3:12
Bitmine just added another 27,000
3:15
ether, pushing its holdings close
3:17
to six million coins with over
3:19
$16 billion as it
3:21
closes in on owning 5%
3:23
of Ethereum's entire supply.
3:25
Lee argues the rally kicked off back
3:26
in late June, driven by a rotation
3:28
out of AI stocks and back into
3:30
crypto, plus strengthening
3:31
fundamentals around tokenization.
3:33
He calls Ether's blowout third
3:35
quarter a prelude to an even
3:37
stronger move ahead.
3:40
Then Coinbase wants to be your
3:41
everything exchange.
3:42
The crypto giant is now letting
3:43
eligible U.S.
3:45
Customers grab IPO shares right from
3:47
its app at the offer price before
3:49
the stock starts trading, kicking
3:51
off with smart ring maker
3:52
Aura's debut this week.
3:55
Depending on demand, you might get a
3:56
full allocation, a partial one, or
3:58
none at all.
3:59
Again, a big push beyond crypto and
4:01
secondary market stock.
4:02
Trading into the primary market,
4:04
building on the pre IPO derivatives.
4:06
Coinbase rolled out earlier this
4:07
year, starting with SpaceX.
4:10
Then our final story, crypto's
4:11
political war chest is opening back
4:13
up. The industry super PAC fair
4:15
shake is committing $30 million
4:17
to an Ohio race against
4:19
former Senator Sherrod Brown,
4:22
its most aggressive midterm move yet
4:24
coming just days after the
4:25
Senate failed to pass sweeping
4:27
crypto legislation, the Clarity Act.
4:29
Brown, the former chair of the
4:31
Senate Banking Committee.
4:32
Has long been one of the industry's
4:34
toughest critics.
4:35
Fairshake already spent $12 million
4:38
to help beat him back in 2024 and
4:40
says more midterm spending decisions
4:42
are on the way.
4:44
And that is it for the block
4:45
briefing. We're gonna be moving into
4:46
the market pulse.
4:47
It's a great pleasure to welcome a
4:49
friend of the show, Andre Dragosh,
4:51
back. He is joining us from London
4:53
where he's been at Bitcoin Corporate
4:54
Day.
4:55
So I'm surprised he's not wearing an
4:57
orange tie.
4:59
Andre, how's it going?
5:06
Or do you want me to talk about the
5:07
conference?
5:11
Do you want me to talk about the
5:13
conference? You can give us a
5:14
quick...
5:14
I mean the quick rundown of
5:16
the conference is there
5:18
are more participants than last year
5:20
which is good.
5:22
So I think we're moving into
5:25
the right direction. Of course like
5:26
the sentiment is different right the
5:28
moment we cross
5:29
80k
5:31
and 85k in particular I
5:33
think can already feel that there's
5:35
some kind of sentiment change within
5:37
the institutions that
5:39
are participating and it's generally
5:41
like a more a positive kind of
5:43
mood.
5:44
Yeah, for sure.
5:45
Look, I've been to a couple of those
5:47
those events as well.
5:49
And, you know, definitely not quite
5:50
the bull market hype of
5:52
a couple of years ago, but still a
5:54
lot of interest in Bitcoin treasury
5:55
companies.
5:56
But let's talk about Bitcoin, Andre.
5:58
That's why I called you up today.
5:59
I'm very curious to get one of the
6:01
best minds in the game's thoughts on
6:03
why we finally surged past $85,000
6:05
and what the main reason was for
6:07
this.
6:09
I mean, I think was clearly
6:11
spot driven, which is a good sign.
6:13
You want to see spot demand
6:15
driving prices higher.
6:17
Usually it's, I'd
6:19
say it's better than kind of
6:21
derivatives driven rally.
6:22
But of course,
6:25
these kinds of spikes to the
6:26
upside, they tend to be amplified by
6:29
short liquidations and
6:31
futures markets and so on.
6:32
And also option
6:35
gamma hedging rates.
6:36
So dealers,
6:38
buy.
6:39
And more options, right,
6:41
to hashtag gamma exposure.
6:43
And so that has also driven prices
6:45
higher.
6:45
But I think if you look back,
6:48
if you consider early
6:50
Monday morning after the weekend,
6:52
when this kind of pump happened,
6:54
right above 85K,
6:58
the US market wasn't open
7:00
yet, right?
7:01
Most US guys were probably asleep.
7:04
And what you saw was a
7:06
lot of spot buying in
7:08
particular on Binance.
7:09
So I suppose it was mostly Asian
7:12
buyers that
7:14
drove this kind of
7:17
spike, right, and
7:19
this rally to new cycle highs.
7:22
And my general take is,
7:24
and it's always been our take at
7:26
Bitwise, I think for the past
7:28
couple of months, the
7:30
moment we cross this kind of ETF
7:32
cost basis around 83K,
7:36
I think we are in a
7:38
genuine bull market because this
7:40
kind ETF cost base has been
7:43
the key demarcation line between
7:45
bull and bear.
7:46
And what we can see now is
7:48
the mentality has essentially
7:50
flipped from.
7:52
Selling the RIP, right?
7:53
This kind of exiting that
7:55
position at break even to buying
7:57
the dip again, right, which is very
7:59
bullish.
8:00
And you can also see on
8:01
chain that traders are
8:04
starting to defend their cost faces,
8:06
meaning they're
8:08
not exiting that decision anymore,
8:10
but yeah, they're buying and
8:12
increasing, accumulating
8:14
even more, right.
8:15
Increasing their position.
8:16
And so I think that's a positive
8:18
sign. I think we're
8:20
moving out of this crypto winter
8:21
into a kind of crypto bloom,
8:23
crypto spring.
8:25
And I think at this point in
8:27
time, especially after having
8:29
crossed the ETF call space around 83
8:31
K and we've closed above it, right?
8:34
I think it's very,
8:36
very unlikely at this time that we
8:38
see new cycle lows.
8:39
So I think the bear markets over and
8:41
we move towards a general bull
8:43
market.
8:44
Well, there you have it from Andre
8:45
Dragos, the bear market's over.
8:47
I love that a lot.
8:48
I thought it was really funny.
8:49
Ben Cowan took to Twitter and
8:51
X yesterday and said, you know,
8:53
he took an L he's like, sorry, guys,
8:54
I was wrong. You know, I've been
8:55
predicting that we're going to get
8:57
lows in, in October.
8:58
And it looks like that's not going
9:00
to come to fruition.
9:01
Um, my final question to you,
9:03
were you actually surprised that
9:04
Bitcoin pumped this Monday?
9:05
Was it, did it come out the blue for
9:06
you? Um, you guys at Bitwise
9:08
are so dialed in, I would imagine
9:10
that. Maybe there were some sort of
9:12
indicators that were suggesting
9:13
something like this might happen.
9:16
It was funny, to be honest, it came
9:18
out of the blue, right?
9:19
So I think we were consolidating
9:22
between this kind of ETF cost basis
9:24
and the true market mean around the
9:27
mid 70s.
9:28
Because we did a first attempt
9:31
at 81K, 82K
9:33
before and then we rejected,
9:35
I thought we would continue to
9:37
consolidate because sentiment was
9:39
already very much overheated.
9:41
But I think a lot of this kind of
9:43
initial euphoria
9:45
faded somewhat, and
9:47
then you had this kind of increased
9:49
spot buying that you
9:51
actually could see in cumulative
9:53
volume delta, which is essentially
9:55
the difference between
9:57
buying volumes on exchange
9:59
and selling volumes
10:01
on exchanges.
10:03
And it was the highest
10:05
spot demand, I think,
10:07
in September so far, so very
10:09
strong demand on an early Monday
10:11
morning.
10:13
And I think it came
10:15
out of nowhere, but I mean,
10:16
sometimes these things just happen
10:18
because investors see
10:20
value in a
10:22
certain asset, right?
10:24
And Ithink Bitcoin is more
10:26
this kind of value asset right
10:28
now than a kind of momentum trade
10:30
still needs to build this kind of
10:32
momentum.
10:33
But especially compared to other
10:35
assets out there, right, especially
10:37
like gold or like the S&P 500,
10:40
other more like debasement hedges.
10:42
I think Bitcoin in this kind of
10:43
relative world is
10:46
looking the most attractive still,
10:47
right? If you look at, for
10:49
instance, the deviation of the
10:51
price from its 200 week moving
10:53
average, more like a cycle lens.
10:56
I think both the NASDAQ, S&Ps
10:58
500, they're trading at their like
11:00
80, 90 percentile.
11:02
So they're pretty much overvalued.
11:04
Well, you can still see Bitcoin
11:06
trading at the 20th percentile,
11:08
right?
11:09
So I think we're still early innings
11:11
in that kind of cycle.
11:13
And if you believe in some kind
11:14
of rotation,
11:16
especially from the AI complex into
11:19
Bitcoin, I think this
11:22
really definitely has legs.
11:23
I mean, where do we go from here?
11:26
Remember, we did this kind of...
11:29
We created this kind of alligator
11:31
jaw right between Glow Money Supply
11:33
and Bitcoin essentially
11:35
since October and
11:38
GlowMoneySupply has continued to
11:40
make new all-time highs,
11:42
AI has sucked some of the
11:44
liquidity out of the room, some of
11:45
oxygen out of room, which is
11:47
probably the reason why Bitcoin
11:49
underperformed.
11:50
But if you believe in this kind of
11:51
catch-up, I
11:53
think we'll probably move
11:56
towards 100, 150k
11:57
in a rather short period of time.
12:00
I don't think we will move there
12:02
until the end
12:04
of the year, but I think that
12:06
is actually the fair value I'm
12:08
seeing right now.
12:10
Beautiful. André, two very bullish
12:12
takes right here
12:14
on the starting block.
12:15
Thanks so much for joining us,
12:16
taking a break from the conference
12:17
there to join us in London.
12:19
I hope to catch up with you soon.
12:21
Thank you so much.
12:23
Cheers, André. Thank you very much.
12:24
We're going to be moving on to the
12:26
hot seat now.
12:27
And it's time for something that
12:29
we're very excited about here at the
12:30
block, something that's been
12:33
being built in stealth for quite
12:35
some time.
12:36
So I'm going to welcome to the show
12:37
Adam James, She's publisher here at
12:39
the block.
12:40
Um, my boss has well, so
12:42
it's a, it's great to have you on
12:43
the, have you on the show, Adam.
12:48
All right, my producer Jordan is
12:49
telling me he wants me to play the
12:51
launch video before we even get
12:53
into the meat of this.
12:55
So if you have no idea what the
12:56
latent is, take a look at this.
12:59
It is much too
13:01
risky, but we need immediate.
13:03
It's a ban on super-intelligent
13:05
A.I.
13:06
Of all the moments.
13:12
I'm gonna call the po-
13:13
You got this one.
13:14
The one where it starts working.
13:19
Silence becomes speech.
13:22
Diseases become footnotes.
13:25
Famine gets forecast.
13:27
Questions become answers.
13:30
Noise becomes language.
13:34
Every generation gets one.
13:36
Yours thinks.
13:38
It reads everything ever written.
13:41
It doesn't sleep.
13:43
It doesn' forget.
13:46
A century of progress.
13:50
And most people use it to summarize
13:52
media.
13:54
Look up!
14:04
All right, there you have it.
14:05
Very, very exciting to announce the
14:07
launch of the Latent, which is
14:09
a sister site to the block,
14:12
primarily focused on AI news.
14:14
It's a great pleasure to have Adam
14:16
James, publisher here at the block
14:17
to join me on the show today to talk
14:19
a little bit about the Latents, the
14:20
work that's gone into it, and what
14:22
people can find on this website and
14:24
why we decided we needed a whole
14:26
standalone platform to
14:28
serve this growing market.
14:30
First things first, Adam, welcome
14:32
to the show. How's it going?
14:34
Yeah, thanks for having me on, long
14:35
time watcher, first time caller,
14:37
and happy to be here.
14:40
Everything is going good, been a
14:41
busy day for us, as
14:43
you well know, and as
14:45
Jordan knows as well.
14:48
Yep, really exciting to
14:50
watch the launch video, something
14:51
that our multimedia team here at The
14:53
Block cooked up.
14:54
But for the audience out there that
14:55
don't know anything about
14:58
the Latent, can you give us a little
14:59
bit of a rundown of what
15:01
kind of content we're covering on
15:03
the website, what people can find
15:04
there, and what makes it kind of
15:06
stand out from what is
15:08
missing from sort of the
15:10
AI media machine?
15:11
Because there are some decent
15:13
sort of resources out there.
15:14
But. I think there was a very clear
15:16
gap in the market and that is what
15:17
we've aimed to build.
15:19
Yeah, exactly.
15:20
So, you know, the easiest way to
15:22
describe it, of course, is it's the
15:24
block, but about AI, right?
15:26
And so
15:28
I think in terms of like
15:29
thematically, and the type
15:31
of content, the quality of content
15:33
the style, the voice that you're
15:34
going to get from the latent is what
15:36
people would be accustomed to
15:38
getting from the block, right.
15:40
So well written objective
15:42
takes about
15:45
About the industry right not
15:47
necessarily primarily the industry
15:48
but with a sort of industry focus,
15:50
right? So when new models drop we
15:52
aim to be the first
15:54
For example our Twitter
15:56
account, right like we we've
15:58
invested resources into really
16:01
Breaking news and being very early
16:03
on that front.
16:04
I'm on the articles We will have
16:06
you know, we do funding really well
16:07
on the block, right we will have a
16:08
lot of Depth of
16:10
coverage into funding into
16:12
I mean basically every everything
16:14
about AI, right?
16:15
That would be relevant to somebody.
16:18
And in terms of the gap that it
16:19
fills, you're absolutely right.
16:21
So the latent,
16:22
broadly speaking, is sort of the
16:24
brainchild of Larry Cermak,
16:26
as well as myself in
16:28
a sort of primary supporting role,
16:30
right.
16:30
And we identified a
16:32
while ago, like months ago, that
16:35
with very
16:37
few exceptions, there is no
16:39
site that actually fulfills
16:42
this need.
16:43
Um, of, of quality reporting,
16:45
like the way the block does with
16:46
crypto.
16:48
So you do have like AI slop sites,
16:50
right? That are primarily also
16:51
written by AI and they're
16:53
not very reliable.
16:55
Um, and then you have big mainstream
16:58
news outlets, of course, that cover
16:59
AI and they do get big stories, but
17:01
there is no sort of dedicated
17:04
or let's say very, very few,
17:06
to be fair, dedicated, um,
17:08
websites specific to AI.
17:10
That. People can actually
17:12
go to. I mean, maybe people watching
17:14
this know, like if you want to just
17:16
go someplace to get your AI news,
17:17
like there isn't really a lot of
17:19
options available.
17:20
And that's why we
17:22
decided to create Delayton
17:23
essentially. We know what we do with
17:25
the crypto industry is very
17:27
good. I hope people watching the
17:29
show would agree that the block is
17:30
the leader when it comes to
17:32
crypto news media research
17:34
and data.
17:35
So we aim to do the same with
17:37
AI, with Delaytton.
17:39
Yeah, definitely, and I mean, anyone
17:41
who hasn't already, you can find the
17:43
website, it's thelatent.co.
17:46
And I think one of the best things,
17:47
having been a print journalist
17:49
and an online journalist for a very
17:51
long period of time, working
17:53
in the age of LLMs
17:55
and AI, it got to
17:57
a point where you never quite knew
17:59
what you were reading and if it
18:01
was predominantly written
18:03
by an actual journalist or was
18:04
perhaps the
18:07
proverbial AI slop
18:09
jockey.
18:09
And I think one of the great things
18:10
about this is if you go to the
18:12
Leighton Co.
18:13
And you click on any of the news
18:14
articles, there is a badge that,
18:17
you know, it's essentially
18:19
a widget that tells you
18:22
if an article is written
18:24
by a human or how much of it
18:26
comes from AI
18:28
contributions.
18:30
Can you talk a little bit about this
18:31
Pangram integration and
18:34
why we think that's such an
18:35
important thing to have?
18:36
Yeah, absolutely.
18:37
So as you mentioned, every article
18:39
that we published on the latent has
18:41
an automated pangrim
18:43
score, right?
18:44
And the best thing about it is you
18:45
can actually click through it and
18:47
you can see, you can go
18:49
to pangram.com itself and
18:51
it will provide you the report.
18:53
So, you know, it's, it's fully
18:54
transparent and we're not faking
18:56
anything.
18:57
Um, The
18:59
reason I love this, and a lot of
19:00
people at the company love this as
19:02
well, especially I think on the
19:04
editorial side, is that
19:06
until I would
19:08
say very recently, so let's say like
19:11
throughout this year and
19:13
prior, there was a lot fear about
19:16
AI replacing journalists,
19:19
as well as just jobs across the
19:20
board in the world, like automation
19:22
and AI is coming for your job.
19:24
If you write online the
19:26
fear has been very real and people
19:27
have been impacted by this already.
19:29
I'm over recent years
19:32
but with
19:34
let's say with SEO changes and
19:36
maybe with people's appetites for
19:37
what they want to consume online.
19:39
I think we've seen a shift to
19:42
de-prioritize fully automated
19:44
AI written content or AI produced
19:46
content even on the video side in
19:49
favor of things that people know
19:51
were created by human.
19:54
I mean that this is that's a broad
19:55
stroke right that doesn't
19:56
necessarily apply to everybody but
19:58
I think it's a fair assumption to
19:59
make also again from an SEO
20:01
perspective.
20:03
Google search, for example,
20:05
is trending very clearly towards
20:07
removal of AI-generated
20:09
content in favor of human-generating
20:11
content.
20:12
So I think not only is
20:14
it transparent, which we obviously
20:15
believe in at the block anyways,
20:18
you know, as crypto enthusiasts, not
20:19
only it transparent but
20:21
it also sort of protects what
20:23
we do in a way by making us
20:25
very open about it. We're using this
20:26
leading AI tool that can
20:29
verify that we're actually writing
20:30
the articles.
20:31
In a fair way, right?
20:33
Like most of our articles, as you
20:34
will see, are 100% human
20:36
written, but there may be cases
20:38
where they're like 90 or 80, and
20:39
maybe that's fine, because maybe
20:41
the AI assistance to that degree in
20:43
that article is completely justified
20:45
because the humans still wrote it
20:46
and they had to use AI
20:48
to explain something or research
20:50
something. So I mean, if that
20:51
happens, we're showing it to the
20:53
reader, we're not hiding anything,
20:54
right.
20:56
So yeah, I think overall, like it's
20:58
a net positive, And I would like to
21:00
see, you know, other.
21:01
Other sites in the future
21:02
potentially adopt something similar
21:05
from us.
21:07
I think, yeah, definitely having it
21:09
there is going to set some sort of a
21:10
precedent and hopefully,
21:12
yeah more websites start integrating
21:14
this. I think it's pretty important.
21:15
It's just a useful tool to know,
21:17
or at least have some sort of
21:19
verification and understanding of
21:21
who's produced what and written
21:23
what.
21:23
The other thing I wanted to talk
21:24
about the website is the benchmarks
21:27
page. And I think that this is
21:28
like, this is hugely interesting.
21:31
And I know you and I are both sort
21:33
of PC enthusiasts and we would
21:35
probably resort to go into something
21:36
like. Tom's hardware to get
21:39
benchmark breakdowns of the latest
21:41
CPUs or GPUs, if you're
21:43
building a gaming computer or
21:45
something like that.
21:46
But similarly, AI models offer
21:49
similar things, and there are
21:51
fundamental differences between
21:53
the different models, what they're
21:54
good at, what they are not so good
21:56
at.
21:58
And Larry, yourself and the team
21:59
have built this benchmark
22:01
section of the website.
22:03
Can you talk to us a little bit more
22:04
about the latent score and how we're
22:06
benchmarking these different
22:08
models and
22:10
what that tells our new
22:12
readers?
22:14
Yeah.
22:14
So the benchmark, you know, people I
22:16
think with the block are
22:18
very accustomed to
22:20
our very robust sort of data
22:22
dashboard and you know
22:24
research department and these
22:25
things.
22:27
And that's also something that's a
22:28
very unique aspect that
22:30
I think the latent is now
22:32
providing to the market.
22:34
So in terms of AI benchmarking,
22:36
if you go to
22:40
without like naming names
22:42
or websites.
22:43
They're very like,
22:45
I mean, I think I would say a lot
22:47
of them are just sort of wrong, like
22:49
they're not necessarily wrong in the
22:50
ranking of like this model is the
22:52
best, like, you know,
22:54
Fable 5.1 is better than DeepSeek
22:56
V4.1, like for whatever reason,
22:58
but the the scale
23:00
is off, like by how
23:02
much better is it, right?
23:04
And we have a very exhaustive
23:07
I mean it's hard to get into all of
23:08
the nitty gritty details here, but
23:10
we have a very, very exhaustive.
23:12
Um, benchmark section that's
23:14
headlined by our latent score.
23:15
So the latent score is the easiest
23:17
way to just go down, like from top
23:19
rank down to 21st rank
23:21
model, and you can just see
23:23
in a very clear way, like what
23:25
is the score and then we also have
23:27
the methodology behind it if you
23:28
want to go further, but then if
23:30
you dive in deeper than that, um,
23:33
I mean, we have.
23:35
We have, you know, benchmarks for
23:37
all sorts of stuff that you can get
23:38
into latent value is another really
23:40
good one. We have...
23:42
A very, very, nice chart that sort
23:44
of shows the latent score that
23:46
we have and then the observed cost
23:48
per intelligence index task.
23:50
So you can see, okay,
23:52
so how good the model is versus
23:54
how good it is relative to how
23:56
much it costs, which is also a
23:58
very important aspect
24:01
on the business side or
24:03
when you're managing your resources,
24:05
how much does it cost to accomplish
24:06
a certain task?
24:08
We provide all of this.
24:10
Information in a way that I
24:12
genuinely don't think anybody
24:14
else right now is,
24:16
especially when you combine it again
24:18
with the news side,
24:20
the newsletter that is also
24:21
launching today.
24:23
I think when you combined that into
24:24
one package,
24:26
you get a very, very,
24:28
robust website that
24:30
I think is very similar to what the
24:32
block provides for crypto.
24:33
Yeah, I particularly love the
24:35
benchmarking side of things.
24:36
And I know it's going to be a
24:37
resource for me as if and when,
24:39
well, not if, when, you know,
24:41
new models come out and you want to
24:42
kind of figure out what you should
24:43
be using and what the trade-offs
24:45
are, the differences, pricing,
24:47
et cetera. You can find that there.
24:49
Obviously the other, the final kind
24:51
of section of the website that I
24:52
want to talk about today is, is just
24:53
the data dashboards and yeah,
24:56
anyone who is familiar with the
24:57
block and our data dash boards will
25:00
arrive at something that feels very,
25:02
very similar.
25:03
So you can definitely feel the block
25:05
DNA in the latent data
25:07
dashboards. But again, here,
25:09
another sector where
25:11
there's a huge amount of information
25:13
that hasn't been
25:16
distilled down into very
25:19
easy-to-understand and important
25:21
data dashboards, and we've gone and
25:22
done that.
25:24
Maybe you can talk a little bit
25:25
about the data dashboard side of
25:26
things and how much you worked with
25:27
Larry to pump these ones out.
25:29
Because. I think, again, there's
25:31
some really great data dashboards
25:32
here and a lot of information to be
25:34
gained.
25:35
Yeah, so in the spirit of full
25:36
transparency, right?
25:37
Like, you know, as a publisher and
25:39
editor in chief, I'm not much of a
25:40
numbers guy in that, in that sense,
25:42
when it comes to, you know, chart
25:44
generation and these sorts of
25:45
things. So, you know, Larry,
25:47
Larry and, you
25:49
know, his side of the business get
25:51
all of the credit for all of these
25:53
charts. And, you know, I highly
25:54
encourage everyone to check them
25:55
out. Like, I mean, again, you'll see
25:57
that block DNA right in it, but we
25:59
already have tons of charts
26:02
available.
26:03
That's just
26:05
very esthetically pleasing as well
26:07
but I mean it's like
26:09
everything's there like US business
26:10
AI use right like there's
26:12
just so much that you can dig into
26:14
there again like we provide on the
26:16
block for crypto so and
26:19
it's free right so I mean this is
26:20
just a
26:22
fantastic resource I mean talking my
26:24
own bag here obviously you know
26:25
but um I mean
26:27
I don't know how anybody like
26:29
can look at the site that we
26:31
launched today, you know, and just
26:32
not see like.
26:34
Okay, yeah, this is this is good
26:35
stuff. This is the block for AI.
26:37
Yeah, exactly.
26:38
This is the block for AI the latent
26:40
Co is officially live if
26:42
you want to go and check out the
26:43
website That's it.
26:44
That's all you have to search the
26:45
latent or the latent co if you wanna
26:47
land straight on the web page
26:49
Please do go and checkout the
26:51
new Twitter handle if you don't
26:53
already It's the latent code
26:55
easy to find give us a
26:57
follow Give this broadcast and
26:59
like in a retweet if you just joined
27:00
us today and you're catching up on
27:02
what we've been talking about today
27:05
That's about it for the show.
27:06
So I'm going to say thank you,
27:08
Adam, for joining us and chatting to
27:10
the team and our audience about
27:12
this.
27:13
And from myself personally,
27:14
to everyone involved in building the
27:16
latent, congratulations.
27:17
It takes a lot to build a new
27:18
platform and bring a new idea to
27:20
life. And I think you guys have done
27:21
an amazing job.
27:24
Thank you.
27:25
Appreciate it. Beautiful, that's it.
27:27
We're gonna be wrapping up the show
27:28
now. If you missed today's show,
27:30
we had Andre Dragos on the
27:32
Market Pulse a little bit earlier
27:33
today, telling us that the bear
27:34
market is officially over and
27:36
that you could expect to see Bitcoin
27:39
over 100, up to 150K
27:41
in the future.
27:44
How soon that timeline is, I'm
27:45
not quite sure. He didn't quite put
27:47
a definitive number on it, but he
27:48
said that very strong spot buying is
27:51
incredibly positive.
27:52
And a large reason why we've seen
27:54
Bitcoin up above $85,000
27:56
in the last couple of days.
27:58
If you didn't join us
28:00
last week while we were in New York
28:01
City, we were at Avalanche Summit
28:04
Broadcasting Live.
28:05
We had some really great
28:06
conversations there.
28:07
Who's Who from the
28:09
industry. We had Kevin O'Leary on
28:11
the show.
28:12
Stanley Kulikov from Aave joined us
28:14
as well. It was a great pleasure to
28:16
chat to former CFTC Chairman,
28:19
Chris Giancarlo.
28:21
And as well as Caroline Pham,
28:23
who is a former CFTC commissioner
28:25
right here on the show.
28:27
If you missed those broadcasts, you
28:28
can find them on the Block's
28:30
YouTube channel.
28:31
Just click on the live panel there
28:32
and you can skip through that
28:33
broadcast. We're also dropping clips
28:35
throughout the week from some of
28:36
those conversations that we've had.
28:37
So if you enjoyed that content, go
28:38
and check it out.
28:39
If you're watching us today on
28:40
YouTube, please like and subscribe
28:42
to the channel.
28:43
And if you're watch us on X,
28:45
give us a like, give us retweets so
28:46
more people can catch up on today's
28:48
show. We will be back tomorrow.
28:50
With another episode of The Starting
28:52
Block. If you don't know the time,
28:53
8.30 a.m.
28:54
Eastern Time is our usual broadcast.
28:56
If you're in Europe, that's 2.30
28:58
p.m., Central European Time.
29:00
Until tomorrow, have a fantastic
29:01
afternoon, evening, wherever you
29:03
are. We'll see you on Wednesday.