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

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