This week, part two of our continued conversation with Benedict Evans, an analyst with over 175,000 avid readers for his tech blog.
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In this episode of Bubble Trouble, hosts Richard Kramer and Will Page delve into the intricacies of technology bubbles with special guest Benedict Evans. The discussion revolves around AI advancements, particularly focusing on Apple's recent integrations of AI models, the differentiation between small and large models, and the implications for email summarization and other features. They explore the economic and strategic decisions behind Apple's use of AI, the potential for various large language models (LLMs) to disrupt industries like legal tech, and the broader market dynamics and antitrust considerations. The conversation also touches on the challenges and opportunities presented by these technological advancements, emphasizing the importance of careful analysis and skepticism in the face of rapid innovation.
00:03 Introduction
00:29 Part One
00:29 AI and Apple's New Developments
01:53 Apple's AI Integration and Market Dynamics
04:20 The Evolution of AI Models and Market Impact
12:29 Antitrust and Market Strategies
17:34 Cloud Computing and Business Models
24:49 The Future of Cloud Machine Learning Providers
25:36 Marginal Costs in Consumer Internet Companies
26:16 Generative AI and Cost Efficiency
28:14 Part Two
28:14 Legal Tech and Large Language Models
30:05 Challenges in Selling Software to Law Firms
31:08 Error Rates and AI Hallucinations
34:36 Practical Use Cases for AI in Legal Scenarios
36:27 Evaluating AI's Potential and Limitations
41:05 Recognizing Tech Bubbles and Market Hype
44:59 Concluding Thoughts on AI and Market Trends
47:27 Credits
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Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work 