The $20 trillion question in the age of AI is how the entire open architecture of the web will be re-architected. The top of the funnel is up for grabs and all the dollars will be redistributed. Google is well positioned to claim its share, but it will have to fight off the cannibalization of core search. The future of search will be based on building conversational UI and the race to intimacy. People will want segregated relationships with different service providers for privacy and control. Each individual may become a server, controlling their own data and interactions across multiple service providers. Users will have the option to rent their data to services and maintain control over its usage. The future of search will be a combination of working with different agents for specialized assistance and leveraging general intelligence for horizontal knowledge. The web is moving towards knowledge extraction and intelligent agents, shifting away from the traditional model of web pages and advertising. The value on the web will be based on extracting knowledge and providing personalized experiences. While search as we know it may change, there will still be clicks and the race to redefine search is ongoing.
(0:00) Bestie intros: Chamath flies public + Poker recap
(8:12) FED pauses hikes momentarily, IPO window status, state of the market
(25:10) Film, cold plunge, and sauna talk
(33:25) AI's impact on tech and growth stocks surging, Google's position, AI's "$20T question"
(50:27) Jay Trading beating the market, how Brad formulates and sizes public bets, how GPs should handle distributions, CalPERS mistakes
(1:04:22) Reddit moderators in revolt and how this issue might reshape the future of social apps
(1:15:11) Funding landscape for AI startups is overheating: Mistral's $100M+ Seed round, importance of constraints, and more
(1:44:17) Science corner: Understanding the Bill Gates-funded mosquito project in Colombia
Follow the besties:
https://twitter.com/chamath
https://linktr.ee/calacanis
https://twitter.com/DavidSacks
https://twitter.com/friedberg
https://twitter.com/altcap
Follow the pod:
https://twitter.com/theallinpod
https://linktr.ee/allinpodcast
Intro Music Credit:
https://rb.gy/tppkzl
https://twitter.com/yung_spielburg
Intro Video Credit:
https://twitter.com/TheZachEffect
Referenced in the show:
https://www.cnbc.com/2023/06/14/fed-rate-decision-june-2023.html
https://fred.stlouisfed.org/series/FEDFUNDS
https://www.reuters.com/markets/deals/intel-talks-be-anchor-investor-arm-ipo-source-2023-06-13
https://www.reuters.com/markets/deals/softbanks-arm-registers-blockbuster-us-ipo-sources-2023-04-29
https://nvidianews.nvidia.com/news/nvidia-to-acquire-arm-for-40-billion-creating-worlds-premier-computing-company-for-the-age-of-ai
https://www.bloomberg.com/news/articles/2023-06-13/databricks-hits-1-billion-in-annual-sales-while-adding-data-warehouse-tool
https://www.gamesindustry.biz/nvidias-acquisition-of-arm-cancelled-due-to-significant-regulatory-challenges
https://bard.google.com
https://coda.io/@presh-dineshkumar/jay-trading
https://www.ft.com/content/86b49e10-3dd2-4427-b70b-993bad47b061
https://www.cnbc.com/2023/06/14/calpers-to-increase-venture-capital-investments-despite-tech-turmoil.html
https://www.theverge.com/2023/6/12/23755974/reddit-subreddits-going-dark-private-protest-api-changes
https://reddark.untone.uk
https://www.nytimes.com/2023/04/18/technology/reddit-ai-openai-google.html
https://www.bbc.com/news/technology-20554441
https://digiday.com/media/twitters-third-party-app-problem
https://www.wired.com/2015/07/reddit-ceo-ellen-pao-steps-down-huffman-replacement
https://www.platformer.news/p/meta-is-building-a-decentralized
https://www.ft.com/content/cf939ea4-d96c-4908-896a-48a74381f251
https://twitter.com/natfriedman/status/1668650915505803266
https://www.kickstarter.com/projects/1523379957/oculus-rift-step-into-the-game
https://openai.com/blog/function-calling-and-other-api-updates
https://twitter.com/RobertKennedyJr/status/1667616444996104196
https://www.womenshealthnetwork.com/hormonal-imbalance/sunscreen-ingredients-that-mess-with-your-hormones