Intuit's $100m/yr OpenAI Deal & How Tech Companies Juice Profits

Nov 22, 2025

The discussion dives into how AI can enhance cost segregation, tackling tasks that typically take just a few minutes. Michael Burry's intriguing bet against AI companies raises eyebrows, alleging they manipulate earnings through depreciation strategies. Intuit's massive $100 million deal with OpenAI draws attention, aiming to integrate AI across its platforms. They also explore troubling statistics, revealing that 10% of adults act on flawed AI tax advice, emphasizing the tech's current pitfalls and risks.

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INSIGHT

AI Excels At Short, Repetitive Tasks

AI reliably automates tasks that take humans about 2–5 minutes with near‑100% accuracy today.
Blake predicts the time horizon doubles every seven months, rapidly expanding feasible tasks for AI.

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ADVICE

Automate Microtasks First

Identify microtasks inside your workflow (2–5 minute jobs) and automate them with AI to get near‑perfect results.
In cost segregation, use AI to analyze photos and auto‑generate item lists for inspectors to validate.

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ANECDOTE

Site Photos Converted To Asset Lists

Blake showed AI identifying depreciable assets from hotel site photos, including storm drains and patio furniture.
He suggests inspectors could validate AI output instead of manually cataloging every item onsite.

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Blake's Illness and Conference Return

00:40 • 1min

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Episode Preview and Topics

01:43 • 2min

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What Is Cost Segregation?

04:06 • 2min

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AI Applications in Cost Segregation

05:53 • 3min

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AI Progress: Multimodal, Agents, Connectors

08:56 • 2min

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Time-Horizon Metric for LLM Tasks

11:11 • 3min

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Applying AI to the Cost Seg Process

14:12 • 4min

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AI Improvement Pace and Future Impact

18:32 • 4min

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Intuit's $100M OpenAI Deal Explained

22:18 • 2min

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How Connectors Could Change Workflow

24:39 • 2min

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Privacy, Data Use, and Intuit's Motives

26:47 • 3min

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ChatGPT as an Operating System for Apps

29:19 • 59sec

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Michael Burry's Short on AI Firms

30:18 • 2min

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Depreciation Changes Juicing Profits

32:42 • 3min

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Accounting Discretion and Investor Risks

35:19 • 4min

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Rippling vs. Deel: New Bank Evidence

39:18 • 3min

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New Jersey Alternative Pathways Bill

42:44 • 2min

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People Using AI for Tax and Investing Advice

44:46 • 3min

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PCAOB Lacks Formal Audit Quality Definition

47:38 • 3min

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Drop in Auditor Enforcement Actions

50:44 • 1min

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FASB's Costly Lease Accounting Standard

51:53 • 4min

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Ancient Accounting Discovery in Peru

• Mentioned in 267 episodes

The big short

Inside the Doomsday Machine

Michael Lewis

The Big Short tells the story of the 2007-08 financial crisis through the lens of several key players who predicted and profited from the collapse of the housing market. The book focuses on characters such as Steve Eisman, Mike Burry, Greg Lippmann, and the founders of Cornwall Capital, who saw the impending disaster and made significant gains by shorting the market. Lewis explains the complex financial instruments and the systemic failures that led to the crisis, making the narrative both accessible and engaging.

Blake breaks down how AI can help with cost segregation and explains why AI currently works best on tasks that take humans 2-5 minutes. Michael Burry is betting against AI companies, claiming they're manipulating earnings by stretching server depreciation from 3-4 years to 5-6 years, adding billions to their bottom lines. Also covered: Intuit's $100 million annual OpenAI deal to integrate QuickBooks and TurboTax into ChatGPT, new bank evidence in the Rippling corporate espionage case, and a survey showing 10% of adults are acting on AI tax advice despite error rates up to 50%.

Chapters

(00:00) - Welcome to The Accounting Podcast
(00:49) - Blake's Illness and Recovery
(02:05) - Upcoming Topics
(04:06) - Cost Segregation Explained
(06:46) - AI in Cost Segregation
(11:15) - AI's Current Capabilities and Limitations
(19:10) - Intuit's OpenAI Deal
(22:01) - Intuit's Strategy and Industry Implications
(30:12) - Michael Burry's New Bet Against AI
(31:21) - Depreciation and AI Companies
(39:15) - Rippling vs. Deel: Corporate Espionage
(42:44) - New Jersey's Alternative Pathways Bill
(44:39) - AI's Role in Tax and Investing Advice
(47:37) - Defining Audit Quality: PCOB's New Initiative
(51:56) - FASB's Costly Lease Standard
(56:13) - Ancient Accounting Systems in Peru
(58:45) - Conclusion and Viewer Interaction

Show Notes

AI Is Now a First Stop for Tax and Investing Questions - CPAs Need a Playbook Fast
https://www.cpapracticeadvisor.com/2025/10/29/ai-is-now-a-first-stop-for-tax-and-investing-questions-cpas-need-a-playbook-fast/171939/

19% lost $100 or more on bad AI financial advice

https://www.accountingtoday.com/news/19-lost-100-or-more-on-bad-ai-financial-advice

Intuit to pay OpenAI over $100 million for model access, ChatGPT integrates with TurboTax

https://www.cnbc.com/2025/11/18/intuit-pays-openai-100-million-turbotax-integrates-chatgpt.html

Intuit Strikes $100M Deal to Bring TurboTax and QuickBooks Into ChatGPT

https://www.eweek.com/news/intuit-100m-chatgpt-deal/

Intuit signs $100M+ deal with OpenAI to bring its apps to ChatGPT

https://techcrunch.com/2025/11/18/intuit-signs-100m-deal-with-openai-to-bring-its-apps-to-chatgpt/

Intuit and OpenAI join forces on new AI-powered experiences

https://openai.com/index/intuit-partnership/

'Big Short' investor Michael Burry accuses AI hyperscalers of artificially boosting earnings

https://www.cnbc.com/2025/11/11/big-short-investor-michael-burry-accuses-ai-hyperscalers-of-artificially-boosting-earnings.html

Michael Burry Hits Back At Critics: Accuses AI Companies Of 'Suspicious Revenue Recognition' And Depreciation Gimmicks: 'Fraud, Not A Flywheel'

https://www.benzinga.com/markets/hedge-funds/25/11/48967194/michael-burry-hits-back-at-critics-accuses-ai-companies-of-suspicious-revenue-recognition-and-depreciation-gimmicks-fraud-not-a-flywheel

Fireside chat with PCAOB acting chair George Botic

https://www.accountingtoday.com/opinion/fireside-chat-with-pcaob-acting-chair-george-botic

New Banking Records Prove Deel Paid Thief Who Stole Trade Secrets from Rippling

https://www.rippling.com/blog/new-banking-records-prove-deel-paid-thief-who-stole-trade-secrets-from-rippling

Newly unsealed documents tie Deel to payments for alleged Rippling spy, while Deel points to witness incentives

https://www.calcalistech.com/ctechnews/article/h1ysgtng11l

FASB Says Certain Costs of Leases Standard Were Significantly Higher Than Expected

https://www.cpapracticeadvisor.com/2025/11/20/fasb-says-certain-costs-of-lease-accounting-standard-were-significantly-higher-than-expected/173680/

FASB finds leases standard was costlier than expected

https://www.accountingtoday.com/news/fasb-finds-leases-standard-was-costlier-than-expected

NJ's once-stalled CPA licensing bill advances after 'surprise' vote

https://www.cfodive.com/news/njs-once-stalled-cpa-licensing-bill-advances-surprise-vote-accounting/805589/

Indigenous accounting and exchange at Monte Sierpe ('Band of Holes') in the Pisco Valley, Peru

https://www.cambridge.org/core/journals/antiquity/article/indigenous-accounting-and-exchange-at-monte-sierpe-band-of-holes-in-the-pisco-valley-peru/41D83389D230D99CFF18194CF274A9A3

Peru's ancient 'band of holes' mystery may be solved

https://edition.cnn.com/2025/11/21/science/peru-band-of-holes-mystery

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