And

so how does it compare in terms of cost and capabilities when you're looking at DeepSeek versus American AI chatbots like ChatGPT and others? There's

a lot of speculation about, was it really this cheap to build? And did they actually have other chips they're not telling us about? But broadly speaking, even accounting for all those criticisms, we can say that this model was trained on a fraction of the cost of most comparable models. And the cost to operate the model is also smaller. That's

a big point for American companies because they're not really profitable yet as it takes so much energy and money to run these AI systems.

That's right. And even before DeepSeek came along, this was an area of major insecurity for the American AI ecosystem. Companies like OpenAI have been raising tens of billions, aspirations even for hundreds of billions of dollars to build these models. And the claim has been they need these vast amounts of capital to kind of win the AI race. And then along comes DeepSeek, and it has created a very, very advanced model very cheaply comparatively. And that suggests that business models may have changed. So

what about data privacy and security? I know government phones are already told not to download DeepSeek. How relevant are those concerns? And what does that mean for the average American who maybe downloaded DeepSeek? It's

a great question and one that has not gotten enough airtime. Really, a lot of the concerns parallel those that have been aired around the debate with TikTok, where depending on the personal information that you're sharing with this chatbot, that could very well be accessed by the Chinese Communist Party, but it logs all sorts of types of information. It even logs your keystroke patterns. And the irony too, is that TikTok, they've gone through all of these sorts of gymnastics to try to distance themselves from the data privacy concerns we have with regard to the Chinese government. DeepSeek hasn't really done any of that. It's very direct. Your data is stored in China. We have to comply with Chinese law. And the Chinese law says the CCP can have access to the data. And it should be very concerning. I think at a minimum, for people who are already using it, they should really avoid sharing personal information with it. Long term, I think we're going to have to think about it similarly to how we've thought about TikTok and Red Note and other Chinese apps.