The Ben Shapiro Show Harnessing the Power of AI | Avichal Garg
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Nov 10, 2024 Avichal Garg, a renowned venture capitalist and founding partner at Electric Capital, dives into the pitfalls of legacy Big Tech and the promising role of cryptocurrency amidst the weakening dollar. He shares his optimism for the AI revolution, discussing its impending impact on our daily lives and the job market. Garg underscores the urgent need for clear regulations in the crypto space to restore trust and tackle fraud. He highlights how innovation in AI should be viewed, questioning whether it can truly create or just repackage existing knowledge.
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Crypto's Core Principles
- Crypto uses cryptography and distributed systems to move money and perform computations.
- It prioritizes security and self-sovereignty over efficiency, eliminating intermediaries like banks.
Crypto's Evolution
- Crypto has evolved beyond digital gold to become a programmable computational infrastructure.
- This allows for automated execution of financial agreements, like wills, trusts, and escrow, through code.
Stablecoins for Faster Transactions
- Transferring large sums internationally can be faster with a briefcase than traditional banking.
- Stablecoins offer a 24/7, instant, and cheaper alternative, handling about a trillion dollars quarterly.