BG2Pod with Brad Gerstner and Bill Gurley BG2 with Bill Gurley & Brad Gerstner | NVDA, Chips, AI Compute Build Out, Impact of AI on Big Tech, Earnings & Macro Set-up | E03
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Feb 22, 2024 The conversation dives into the impact of AI on tech giants like Google and Meta, questioning their adaptability and market positions. They analyze NVIDIA's chip production and its significance in meeting skyrocketing AI compute demands. The duo also discusses inflation, interest rates, and how these macroeconomic factors affect investments. With a focus on the semiconductor industry, they explore ambitious investments aimed at competing with leaders like NVIDIA. Themes of competitive advantage and the transformative nature of AI are woven throughout.
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FSD 12 Experience
- Bill Gurley was impressed by Tesla's Full Self-Driving 12.
- He believes it represents significant progress, potentially a "ChatGPT moment" for self-driving technology.
Market Dispersion
- The current market shows increasing dispersion between winners and losers, unlike last year's mean reversion.
- Higher valuations are accompanied by a more challenging backdrop with rising inflation and interest rates.
Booking.com's Success
- Brad Gerstner recalls a lesson about Booking.com's success, which Wall Street analysts missed by focusing on short-term metrics.
- They overlooked the long-term trend of offline hotel bookings moving online.