The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Bret Taylor: The AI Bubble and What Happens Now | How the Cost of Chips and Models Will Change in AI | Will Companies Build Their Own Software | Why Pre-Training is for Morons | Leaderships Lessons from Mark Zuckerberg
Oct 2, 2024
Bret Taylor, CEO and Co-founder of Sierra and former Co-CEO of Salesforce, dives into the current AI landscape. He questions the sustainability of the so-called AI bubble and challenges the notion that companies will create their own software. Taylor also discusses why foundation models might be the fastest depreciating assets and shares insights on AI's potential to replace traditional consumer interfaces. The conversation touches on the shifting landscape of computing, highlighting the importance of tailored software solutions in a rapidly evolving tech world.
01:10:39
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Quick takeaways
- Bret Taylor argues that investing in pre-training AI models is often inefficient for companies lacking unique capabilities, favoring fine-tuning instead.
- Despite skepticism regarding an AI bubble, the economic transformations and potential returns from AI innovations may justify current high valuations.
Deep dives
Skepticism Towards Pre-Training Models
There is a significant skepticism surrounding the practice of pre-training models, especially for companies that are not focused on artificial general intelligence (AGI) research. The belief is that investing in pre-training without unique capabilities leads to inefficient use of capital, much like investing in a custom data center rather than utilizing existing infrastructure. Most software companies should prioritize fine-tuning existing models instead of taking on the additional burden of developing their own. Thus, companies that engage in pre-training without a strong rationale may find themselves regretting that decision as their capital is essentially wasted.
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