SPEAKER_00: it's like going running alone or going running with a group of people yeah you run with a group of people you run further you run faster you run better you run alone two out of three people who run alone and i'm in that group i'm just not going to perform at the highest level when i'm in an office i used to do 20 meetings in a day with founders yeah 20 i would go for 12 hours 20 to

SPEAKER_03: 30 minute meetings crazy no breaks eating at the table with a founder no we did our accelerator i probably do 30 meetings in a day i would do three groups of 10 and i would give each 15 minutes so yeah for an hour and we were on a clock yeah and we and the clock was in the corner i mean yc does this too everybody does this but the point is performance goes up in a group in a room

SPEAKER_10: this week in startups is brought to you by and broker startup insurance program helps startups secure the most important types of insurance at a lower cost and with less hassle save up to 20 off of traditional insurance today at a broker.com twist while you're there get an extra 10 off using offer code twist open phone brings your team's business calls texts and contacts into one delightful app that works anywhere get 20 off your first six months at openphone.com twist and roots invest in the only real estate investment trust that creates wealth for you and its residents at invest with

David Friedberg: roots.com twist all right everybody welcome back to this week in startups i'm back i'm back in the united

SPEAKER_01: states and so is sunny sandeep madra also back uh we happen to be in italy at the same time that

SPEAKER_17: was nice running into you just randomly yeah it was great spent a couple days together play a little

SPEAKER_01: bit of cards uh saw some friends but here we are we're back and our voices are a little shot i don't know i don't want to attribute it to anything but nice to um get a little time in italy and you know on this week in startups we'd like to do this weekly ai recap we tend to do it on monday or tuesday uh so consider this this week in ai with my good friend sandeep madra if you don't know his uh company it's called definitive intelligence they do ai data analytics basically pointing all this incredible ai at your

SPEAKER_19: data sets to make you smarter and make better decisions but then also combining it and do the

SPEAKER_03: work for you but also you're combining with public data sets too yes which is super fascinating so you could have your internal data set of let's say all your sales uh internally all your marketing internally but then you could put it against say amazon's reviews or google trends or the stock market or

SPEAKER_00: weather and this is the holy grail that we never really got to why did we never get there sunny when

SPEAKER_03: we look at how data we've been talking about big data for 20 years we've been talking about the cloud for 20 years we've been talking about data science for 30 or 40 years you know in corporate america obviously these disciplines have existed for even longer than that but it's it's been front and center in corporate america but it never really came together uh the way it is now why

SPEAKER_27: well i think it was like a a few factors and we've had a perfect storm i think it was for a long time companies were resistant to the cloud and companies that were doing this type of work natively were cloud native meaning you know for the longest time facebook's of the world google's amazon's you know despite having their own clouds they were using sort of cloud technologies for a long time yeah and so it took a long time for enterprise to get comfortable with the move towards cloud so that was the first shift that was needed um then the second shift that was needed was um an ability to basically make it easier for a broader range of folks to access this data and i think that's what's really kind of come together with ai you know if you had a lot of data which many companies did and had it in a data lake that you spent millions or hundreds of millions of dollars putting together but usually all the requests from the ceo down get funneled into a team of maybe five or you know 50 analysts and those are trying to answer all the questions for every person in the business and that wasn't scalable and i think that was the choke point if you will

SPEAKER_00: that was the choke point exactly so you have this incredible data lake you invest in it but only like there's a little tiny dock and like five people can sit on the dock and fish from this incredible

SPEAKER_03: data lake correct now everybody's out in the lake wave runners boats people are swimming in the lake everybody can go drink from this incredible lake and then the insights happen

SPEAKER_19: and that's really why this is a revolution and uh the the thing i saw this week that i thought was or

SPEAKER_01: while we were on a little bit of a break there having all-star summer i don't know if you knew

SPEAKER_03: this but we dubbed this summer all-star summer here on uh this week in startups and man we just had the ceo of mongo db on ryan from qual tricks on we've been just having crazy ceo level talent on the

SPEAKER_01: pod to keep everybody's summer really really hard even darmesh from hubspot came on uh thanks to all my friends coming on and supporting me during the all-star summer here and if you're one of my all-stars reach out let's go let's do it let's do a quick uh uh conversation actually know who i'm having on tomorrow is the uh whoop ceo i don't know if you know whoop everybody's into this whoop uh wristband yeah the band yeah yeah so i'm thinking about getting on that whoop because i'm you know i'm getting on the health kick so um will will be on tomorrow amazing but while we were gone a couple of things were going down obviously we still have the strike going on by the writers guild and the thing i found very interesting about that was i uh have been getting tapped for some entertainment projects and i find

SPEAKER_03: myself using chat gpt to do my research even to do some proposals and it's wonderful yeah absolutely works great there's no doubt in my mind that anybody who's a writer on a tv show can get benefit from using these tools and i don't think it replaces people but on the actor side i do think it does replace people and that was shown to me perfectly crystallized for me so perfectly not with the star wars you know princess leia luke skywalker cameos trying to cross the uncanny valley not even the new harrison ford i don't know if you saw did you see the new raiders yep i mean that harrison ford i i did not realize that was dh yeah i thought that that was from when i first started oh that's like a previous

SPEAKER_27: movie or is it outtakes or something and then i was even i think we even talked about it we talked about it right we saw like great when they took like a we did a uh like a demo of a like someone

SPEAKER_52: taking it older harrison ford and making them younger right so we saw that yeah yeah so i mean the thing

SPEAKER_33: that has crystallized it for me it's a little tv show called south park yeah and the reason this

SPEAKER_00: crystallized it for me yes is because when south park came out uh trey and um matt matt they when

SPEAKER_03: they created it used uh if you ever seen the first episode that they did i think in college or short after college they were you know doing stop animation basically with cardboard cutouts so they use this lo-fi so lo-fi stop motion would be the first thing that computers can just perfectly replicate obviously so sure enough somebody created an ai generated showrunner basically but not only did they nail the animations which is easy to do they nailed characters location and plot now i'm using the term now um perhaps that is a bit of a moving target but i would say enough to be uh fascinating so explain to us exactly how this has manifested because this is the first multi-dimensional ai effort

SPEAKER_49: that i've seen for entertainment specifically yeah and jacal for this one let's pull nick in

SPEAKER_27: because producer nick yes yeah because producer nick has really done a lot of good background work on this one okay here we go um so nick why don't you why don't you lead out on this one and then

SPEAKER_62: i'll chime in with you yes hey everybody um yeah you like your voice too were you in italy no i wasn't

SPEAKER_63: so yeah this south park demo was done by a team called fable simulation um they've worked on vfx projects for pixar and oculus in the past um and right now yeah they're legit this new model they built as a generative tv and showrunner agent it's called um it's called show one right animate direct create voices and even edits and what they did was they basically put a prompt in which i can pull up the prompt right now basically the prompt was researchers trained an ai robot pig to write infinite tv shows but it goes horribly wrong cartman is a big fan of ai generated tv show westland chronicles which is basically a stand-in for westworld the writers guild is on strike because of ai and from that it created this basically 20 minute south park full episode and i would say honestly in terms of the plot it's like 60 to 70 percent there and just as a general like plot overview what happens in the episode is cartman kyle stan and kenny are all debating this new show westland chronicles that's ai generated cartman loves it kenny and uh i'm sorry kyle and stan think that it's wrong that writers are now being generated by ai instead of it's just so meta yeah well exactly it's crazy and then so the show and this is where it's like so it's so nails like the genesis and the joke writing of south park always does as well which is great so the the show is being produced by a company called bisney obviously standing for disney and in the episode these business researchers are creating a generative ai pig which is basically you could think of the pig as mickey mouse it's called met porker which is funny enough like a combination of matt stone and trey parker's names met porker is the pig and they create this like generative ai pig to uh and they start training it on like different racial stereotypes oh no it's horribly wrong and the pig turns racist and then it becomes a big news story

SPEAKER_70: but that is almost exactly what would happen on a south park episode about generative ai i think right

SPEAKER_03: yeah i mean i'm not like falling out of my seat like hilarious laughing so i think your 60 sounds about right to me it gave some good bones to an episode it obviously has as part of their model my understanding is they put in every script every location every character that's ever been on and

SPEAKER_01: in other words they took the wikipedia or the wukipedia or wikia whatever you know those vertical wikis

SPEAKER_03: are south parkipedia south parkipedia if you if you ingest south parkipedia and it knows these are characters and it knows these are locations and then it knows the themes it knows they like to do laboratory experiments it knows they like to send up corporations in disney so the ai is going to get you 60 70 of the way there but what's very interesting about this is the script would normally be over here in language model land right sunny the images would be over here in stable diffusion land yep so what's happened here is stable diffusion land and open ai land have been merged which we knew

SPEAKER_19: would happen but here we are in month 10 of this revolution or month nine of this revolution and

SPEAKER_27: somebody stitched those two things together didn't they it was bound to happen and you know even open ai right has dolly and so um you know it's not doing full animation yet and we'll talk about runway and some other things in a bit but um that intersection is already here now right and so you can assume that this type of functionality especially with the ability to set like context windows uh in this case um like you know the entire south park training set is coming really really quickly to anyone and that's going to be a big threat to um the the writers and this whole strike that's going on listen i work

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SPEAKER_89: twist for 10 off okay let's get back to this amazing episode and the truth is here in turn on

SPEAKER_01: the animation side nick you don't need for south park to send this to i think they were doing it in

SPEAKER_03: south korea wasn't that the big animation capital front i remember reading somewhere that the way they turned over the animation so quickly in south park because you'd be like wait a second this wednesday's episode is about you know trump getting because of the video cameras right yeah and you'd be like wait a second didn't that indictment just drop on friday and you're got it by wednesday so there was some compressed thing that they that was part of the magic of south park was how did they do it so fast and here we have they could be working on it on a wednesday afternoon and drop it wednesday night yeah so south park could be commenting on the day's events with a with high fidelity in the animation and then you need zero animators so i mean if you're an animator for south park right now this is code red they don't need you now if you're an animator for you know uh ashoka or clone

SPEAKER_97: wars or pixar they still need you so this is the beginning of the episode uh where cartman and kyle

SPEAKER_100: stan and kenny are talking together get this bisney is using ai to make the entire fifth season

SPEAKER_102: haha that's right artificial intelligence baby what that sounds like a terrible idea how would ai even

SPEAKER_100: make a good story for westland chronicles oh i'm sorry kyle i didn't realize you were an expert in ai technology how about you let the super smart machines do their job and we just enjoy the freaking show whatever you guys can keep watching your lame non-ai tv shows while i enjoy a thrilling

SPEAKER_102: new season of westland chronicles fine you enjoy your ai generated season we'll stick to shows

SPEAKER_03: written by actual humans i would say the voices because i forgot to bring that into play here uh you know be doing ai generated generated voices are perfect yeah i don't i don't think i could tell

SPEAKER_108: the difference in a show um i think you can a little the inflection the inflection is okay yeah all

SPEAKER_03: right so but they could probably smooth that out oh yeah that's just a matter of i don't even think that's a matter of technology there's probably just a little more work more more tuning yeah more tuning so let's just say they got the voices the dialogue is kind of lame it's not funny it's boring so it's halfway there and the animation is obviously 90 percent there or yeah i mean most

SPEAKER_01: people aren't even looking at the screen anymore so pretty amazing yeah the you're right the animation is

SPEAKER_68: the closest and i would say the general like the sting of the joke is probably the the furthest thing

SPEAKER_33: from what they have right but as we showed i think two weeks ago we were sitting here and we were

SPEAKER_03: putting memes up and it was explaining memes so i think if you did some reinforcement learning here and said that's a funny south park joke and the south park writers punched up the jokes in real time this thing after having 500 jokes punched up would have enough of a uh of a data set to punch up its own

SPEAKER_19: jokes and joke yeah yeah if that makes sense so with reinforcement learning and i have to say this is inspiring i think as well because um you can you can look at this through the lens sunny of what's lost

SPEAKER_96: okay the animators are losing their jobs 100 they're done the people who uh do the voices they're losing their jobs they're completely unnecessary to have matt and trey and whoever else is doing voices do the voiceovers now you may still want to have the animators you still may want

SPEAKER_19: to have people do their voices i get it but i'm saying necessary in the next year or two completely not necessary and then the writers are the most necessary but do you need 10 or do you need five i think you probably can get rid of two or three and let the the ai brainstorm and then next year it's fine okay so people are going to lose their jobs or you don't need as many people what are the what are the things you gain well here's the things you're going to gain you're going to be able to do this in real time you're going to be able to do it tonight based on today's news you're going to be able to do 10 times as many episodes because the cost is going to be so much lower so there's no reason for them to go on hiatus you could have a south park every week you could have south park every

SPEAKER_119: night if you wanted to do that now that might dilute the brand you gotta be thoughtful about it um well

SPEAKER_27: the other thing you could think about um is uh let's just say there's a historic show and that had you know writers actors the whole kind of uh infrastructure required for a show do you remember the the like the well i guess it's called the x account now the x account modern seinfeld do you ever follow this

SPEAKER_107: one oh yes there is an account on twitter yeah where they take the characters from seinfeld and they

SPEAKER_03: put them in modern day scenarios so a modern day scenario might be using open ai yeah or flying in a v toll or cryptocurrency so and it it's like when they do they do this for sopranos there's a guy on tiktok who will do christopher maltisanti talking to tony soprano about nfts trying to order an uber or

SPEAKER_127: some modern day situations for classic shows and now you could actually do that and now you could do

SPEAKER_27: that right and so what i think it does is it basically says for creators that have you know strong basis in content there'll be an ability because i would like i love seinfeld i still watch seinfeld and i would love to watch some modern seinfeld shows jerry is never going to do it right they're never going to come together but i would pay for that and i think everybody that was involved in that infrastructure should get paid and so i do think uh you know there's going to be a real big opportunity and what we might end up with is not like 10 seasons of a show we may end up with one or two let's call them human powered seasons and then beyond that that's

SPEAKER_128: enough of a seed for people to continue with it because they enjoy it in other words you know like

SPEAKER_01: general hospital and some of these um soap operas i mean they've been going on for decades yeah and if you take the general hospital model where they produce i don't know a couple of hundred episodes a

SPEAKER_03: year yeah um you could have the sopranos come back you could fill in the all the episodes in between you could just say hey here's the here's the foundation here's the um canon now we can do non-canon stuff and fill in in between here's what was happening in new york here's what was happening in miami just fill in so that's a really incredible opportunity you take some show that

SPEAKER_01: people still love i mean you could go far back you go back to mesh yeah you go back to cheers you go

SPEAKER_137: back to you know um you know whatever show and so the op i like to look at the opportunity and then

SPEAKER_03: i think what you said there is very interesting in terms of a new model for those actors so those actors made all their money in the final seasons right yeah they negotiated together as a group they

SPEAKER_96: got a couple million dollars everybody makes their money on the last two or three seasons yeah well what if you know some show like the sopranos with the less than nine seasons or something something like

SPEAKER_63: that yeah it was like seven but the last season was split into two so eight really eight seasons

SPEAKER_96: so you have seven eight seasons what if that entire group could vote or they had in their contracts hey for every additional season you're going to get paid even if you're not on it a minimum of in today's dollars 80 of what you got paid for being there and now if i'm an actor and you give me 80 cents on the dollar for something that i have to do zero work for that seems pretty reasonable to me in perpetuity yeah and then what does that mean for the network well the network can say well we can keep putting out sopranos at 80 cents on the dollar pretty great

SPEAKER_19: and if and even after you know uh gandaphini has passed away you you know and a number of the other

SPEAKER_20: cast members yeah magically people can still enjoy this in the family i mean i think that's the the

SPEAKER_03: very interesting opportunity now this there's another rub here so we've identified some really great opportunities here for everybody and it could be win-win and people could opt out of it too

SPEAKER_01: right you could be jerry seinfeld and say you know what i created this it do not train you're not allowed to train models which that should be like the artists at the artists and the producers and everything should have to come to that agreement but here's another opportunity you

SPEAKER_03: could personalize this stuff and so knowing what it knows just like cameo does personal stuff i could watch a seinfeld or you could watch a seinfeld that could tackle some topics that you really like i could watch a south park that was funny and included things in my world or you could regionalize it so you could have south park but it could be based on the politics of brazil or it could be you know have an italian aesthetic to it right and and they did regionalize shows right you'll have shows like the office that came from the uk to the united states but now you can have the office

SPEAKER_19: in this model for every single location around the world yeah you know for every dialect so you know there's just so many wonderful opportunities here and as long as the studios are not greedy

SPEAKER_27: pig pigs they could share the wealth yeah or if if i just wanted to learn about uh like an event like a recent event you could have a show created about it and learn about it that way right many of the things that we would see on those shows where give us an example well let's just say imagine like a seinfeld episode where somehow kramer's involved in the trump indictment perfect yes incredible which

SPEAKER_152: indictment i mean i haven't i haven't refreshed drudge report in four hours so i did probably another 50.

SPEAKER_52: kramer was in that room with the boxes yeah yeah of course no he was you know what he was the guy who

SPEAKER_152: they said go you go erase the videotapes of the uh they did the big boss wants you to erase video

SPEAKER_86: are you still using your personal phone number for your startup in 2023 is your sales team really your ops people customer support this is a huge mistake you have your precious customers your clients your partners in one of your team members personal phones and team members last what one year to five years on average and then all that knowledge is gone forever and maybe they go to a competitor well open phone will solve this problem open phone has rethought every detail of what a modern business phone will look like it's just magic you download an app or you log in on your desktop and you're done it's amazing my sales team my ops team they use it every single day and we've recently found that it's valuable for when we do conferences we have a phone number for when we do something like angel summit all of the communications goes through there if anybody needs to call us our vips they call that and then it can do like a round robin kind of thing where it rings multiple phones at once so different employees can field those calls and nobody gets to the fourth fifth ring it's the number one rated business phone on g2 for customer satisfaction and that's really hard to do if you're in the sas business you know how hard it is to beat competitors in the ratings game open phone is already affordable to you at a starting price of 13 per user per month but twist listeners you always get a better deal you get 20 off any plan for the first six months at openphone.com twist and if you have an existing number with another service open phone will port them over at no extra cost head to openphone.com twist

SPEAKER_161: to start your free trial and get 20 off all right so now building on this you have another company you

SPEAKER_27: wanted to show well it's just pace of innovation we've got runway back up and you were just starting to you know we've seen some of these things before so i'm just going to point out some very specific examples so this is this is runway ml.com runway ml.com uh raised a good nice chunk of money recently they've been crushing it uh what i'm showing here is a prompt that says aerial drone footage of a mountain range and it you know creates a little clip that has that what i'm going to go forward here on is something a little bit more interesting and i think this is pretty cool um this is the example so here someone is trying to create like a storyboard and jaykel you've probably done this way more than i have ever even come across and the storyboard on the left hand side is someone taking their iphone and stacking up some books but really what they want to have is those books represent a shot that is of a skyscrapers yeah it's a flyby yeah it's a flyby like a drone shot yeah and so i really think this is incredible coming back to you know we're talking about the animation and where it's coming to and how you can create flyovers and screens and last week we demoed the you were drawing your um

SPEAKER_01: bulldogs yeah what do you think of this jaco i mean the so the it's taking a shot on the left and then it's enhancing it and making it into what you want which is kind of like somebody walking into the you know design studio like george lucas comes in and says like hey um i made some drawings and here's what darth raider is going to look like and you know they pull out a mood board or here's a picture of a samurai here's a picture from sci-fi and here's my drawing and and that uh is all part of

SPEAKER_03: the creative iteration process and if you can make the process go faster or increase fidelity um you're going to have better outputs you know it's like somebody coming into a room this is great video of um a producer pitching jay-z on a bunch of different tracks and one of them is dirt off your

SPEAKER_96: shoulder yeah uh you know that famous anyway any you see jay-z kind of like reacting to the first three or four you know uh loops and he's like he's kind of digging it but then he hears that one the iconic one and he's just starts spitting and he's just this is it you know like you see the look on his face like

SPEAKER_19: whoa this is going to be iconic yeah and that's the moment everybody's looking for which is how do we take and you're showing it right now with that turtle oh yeah you know a human turning into a turtle it's like these are incredible uh you know if the actor can emote it or the director can emote it and

SPEAKER_03: then you can make it into an animation i mean i think some of the great animated films in history are could be created today you know like the little mermaid or something or beauty and the beast yeah it

SPEAKER_01: feels like that 60 70s into the 80s genre of animation from disney yeah uh just like south park uh all of those the super friends when we would watch or he-man that fidelity is going to be available to consumers to make their own shows and so i think this means creative people you could have some kid you know some young girl in afghanistan is going to come up with the next south park or the next iconic superhero and that should be inspiring to everybody now i know for some people it's scary because you know they get to play superheroes on tv or they've got a lock on it or they've spent their careers i i look at well what is the opportunity for the next generation the opportunity for the

SPEAKER_19: next generation is i think more people are going to be able to make the next iconic superhero you know

SPEAKER_183: rap song logo poetry novel and more power to them i love it yeah i think we're just on the verge of

SPEAKER_26: an explosion of content creation yes and each iteration has made it easier and easier like

SPEAKER_27: think back to the very first filmmakers they were limited to the maybe the few hundred people on the planet that had access to the camera and the film right jake l uh this was uh i mean look at what

SPEAKER_19: we're doing right now zoom and webcams and uh all of a sudden enable everybody to have a talk show yeah in order to have a talk show previously we had to beg some local news station like oprah did to get you know a time slot to get cameras 150 000 in cameras yeah ten thousand dollars in tapes every time you recorded in an hour you had to have 20 people on the set and now the lighting and the

SPEAKER_193: makeup is all done by software right now so that you know i i love the fact that more people when you

SPEAKER_01: lower costs you increase accessibility yeah that's it it's that simple and so uh i feel bad for the you know actors and writers who feel like maybe um they're going to be losers in all of this but i feel great for the long tail of content creators who are going to be enabled by this yeah and i think

SPEAKER_26: they're the seed like just to give them some hope like i think you don't have to do 10 seasons or you

SPEAKER_27: know what we were talking about earlier you can do two and you can put that out to the community and then they can create from it and i think what will be amazing is we'll see a show that maybe was um like a b plus or a b in popularity in its original run but then its derivative its ai derivative becomes

SPEAKER_207: like a top five smash hit i mean we've had that happen before you know you've had things that

SPEAKER_137: had a cult following you know on air they didn't make it to season three i think there was like firefly or some of these shows and then all of a sudden people are like wow that was such a great

SPEAKER_209: show let's bring it back let's give it another shot uh make a movie out of it whatever um what else is

SPEAKER_212: going on in here all right okay now that we've got we beat the entertainment uh we're gonna keep

SPEAKER_213: cruising here um we don't know by the way for the studios you really just have to share the wealth

SPEAKER_01: and come up with the system that's fair so the actors and the writers have a point here instead of the actors having to say no ai and you having to say like we're going to do ai just come up with an economic model it's very sad and they had an economic but they had residuals yeah so like i think this is on the streamers i think this is literally the technology industry is causing this problem i think netflix is the key bad actor netflix does not want to play residuals netflix just wants to buy it they don't want to share the data i put the entire industry's problems on netflix's shoulders

SPEAKER_49: maybe double click into that jcal and what's the reason for that netflix is a technology company

SPEAKER_00: they basically want to pay everybody a flat rate own their content forever what the studios did for a

SPEAKER_03: long time was they were like oh well we'll have you make this and if we sell it again we'll take seinfeld and we'll sell it to fox for reruns and we'll sell it in this region for reruns and whatever money we make we're going to chop it up takes a little bit of accounting yeah there's a little fugazi accounting on the margins but everybody's gonna get residual checks everybody's gonna get some piece of the pie what netflix said was your you did orange is the new black those actors got paid a pittance and they've been pretty vocal about it they got nothing and they orange is the new black

SPEAKER_01: was one of the seminal shows right that built the netflix original ip and jaco why did they get paid so little because the streamer said listen we're we're not reselling it we own it we're going to put

SPEAKER_03: it on our service for a subscription fee so give us a pass on this we'll pay you more netflix lied they said to everybody or they eventually lied um they told everybody we'll pay you more on the way in uh and then but we're not going to do residuals because we're just going to have a content library

SPEAKER_01: we're going to subscribe and it's a new model what they should have said was hey we're going to put you into this new model and you're going to get equity some number of shares in netflix and if you

SPEAKER_03: choose to sell them you sell them but as part of your deal you're going to get you know 10 000 an

SPEAKER_00: episode in cash and 5 000 an episode in stock if you want to keep making money don't sell your stock because you're going to have after you know as one of the actors on the show you're going to have a hundred thousand in netflix shares keep we suggest you keep it or they could say we're going

SPEAKER_01: to give you rsu's so for the next 50 years you're going to get 10 shares a year of netflix and the

SPEAKER_03: notion of syndication went away the notion of syndication was it you netflix orange is the new black is not available on hbo or whatever so the whole industry now is going to a library that you subscribe so how do you chop it up what they should say is we're going to pay you for the show the other possibilities pay for the show and then every time a show is watched on air when it hits a million

SPEAKER_19: views per year we're going to give we're going to put a thousand dollars into this kitty to share ten thousand dollars to share when it hits ten million another ten thousand whatever and you'll

SPEAKER_01: just build it up by the number of views so if something like orange is the new black or ozarks is a perennial thing that people keep watching great if not great and that's why you see hbo max you notice how they took shows down yeah and everybody's upset like why take that's because they have to pay residuals on those is my understanding so because they have to pay money

SPEAKER_96: they're like well what's the point of having this on air not enough people are watching it it's costing

SPEAKER_19: us money we need to save money so they take all that stuff down and they're like why would you take that down yeah it's like well because we have to pay back ends on it and we don't have the money wow so

SPEAKER_01: there's a balance between these two things i i believe the right system if you want to read a great book something like an autobiography by akira kurosawa one of my top three directors um and kurosawa is uh worked for toho studios and in japan you worked full-time for toho studios so imagine if spielberg and a great writer and the actors all worked for the studio full-time they had a full-time position they made a million dollars a year a half million dollars a year whatever it is

SPEAKER_00: and then they would send them to an onsen and like a you know for a retreat when they had the retreats they would write two or three screenplays they would act them out then they would say let's go with this movie let's do this one we're going to do a samurai film no let's do this noir one and the group would kind of like almost like a little startup factory would make two or three films a year and you i would work with you on the samurai film then i would work with you on high and low the law film and then we do an experimental film and everybody was just full-time employed everybody was

SPEAKER_01: part of the system and it wasn't this like begging for scraps nonsense okay which is what's killing people now so i think if i'm netflix i just hire the 100 best writers in hollywood for a million

SPEAKER_03: dollars a year each or you know on average 250k each give them some ac 250k like look at them like

SPEAKER_237: developers that would work amazing hey everybody today i'm joined by roots ceo dan dorfman dan welcome

SPEAKER_86: to the show thanks for having me jason tell everybody here in the audience what is roots and what makes it different than the other real estate investing platforms i'm a complete neophyte

SPEAKER_239: roots is a reap with a little twist sorry i had to do it we are the first real estate portfolio that we know of that builds wealth for both our investors and our residents and we've created a unique win-win model that creates partners and not tenants we built this model because i've spent my entire career in real estate investment 13 years and what you always hear from people is hey location location location but location at the end of the day doesn't actually pay your bills and location doesn't let you know when there's a small leak that will create mold in the future the people do and the people who rent your properties are really the people who generate your profits and when those people are your partners it really creates this amazing scenario and it's this model that's helped us grow our fund over 36

SPEAKER_241: in the last two years fantastic how can people learn more about this opportunity both on the tenant side or on the investor side check us out at investwithroots.com backslash twist all right everybody go to invest with roots no spaces no dashes dot com slash twist to sign up and start investing today

SPEAKER_27: jakel i i didn't set this one up as a demo because it's a c it's a crm oh i love this and i want to talk about it um because they've done some really incredible things and as i was actually

SPEAKER_249: doing some prep work with nick he mentioned that you guys had done some heavy crm work recently and so um you know i didn't want to create a whole fake crm it was no problem customer relationship

SPEAKER_251: management if you're new to the game is a way of putting all your contacts into a database to manage

David Friedberg: them those can be startups you're investing in it could be customers at your restaurant it could be

SPEAKER_49: people who buy your sas product continue yes so this is folk dot app um okay uh kind of a new crm

SPEAKER_27: software but you know they have some ai twists which i i thought were really really cool and so i just have their video up and i'm just going to forward through a couple of sections

SPEAKER_205: that i find it really interesting and so um you know you can do all the stuff about

David Friedberg: sucking in your contacts so what it's doing here is it's authenticating with your linkedin authenticating with your gmail and then it's putting everybody on the left hand navigation as investors journalists media potential sales so prospect suppliers your team etc so it's automatically putting people into what looks like an air table or a google sheet or you know hubspot or

SPEAKER_82: pick your crm exactly and then they have a chrome extension sure that as you're cruising around the

SPEAKER_27: internet as well if you come across someone's page you hit this ad as potential size investor and it

SPEAKER_205: adds them to that crm which i think is pretty neat as well we have a company lead iq that um has that

SPEAKER_259: exact functionality yeah great um and and i think those are a little bit table stakes like i'm not

SPEAKER_205: like you know we've seen those have existed for a long time yeah where it starts to get interesting is as they go further down the process here and they're going to start um and in this particular case

SPEAKER_27: they want to do some follow-ups and you can see here they want to write a personalized icebreaker

SPEAKER_205: to each person in their particular list ah and what it's doing here is it's created this magic field which is the personalized fall and it you know done it with ai which is the personalized icebreaker to each person in that list yeah and so um and then you know obviously you go down this typical crm workflow here to create your template and it obviously integrates the email mail merge type functionality that you're looking for and i know as i was showing this to nick nick told me that he spent about a week customizing a bunch of outbound emails um yeah when we invite people like we're

David Friedberg: into the all-star summer we make a target list yeah and then we'll use mail merge technology to send a

SPEAKER_03: first email a follow-up email a follow-up email and a follow-up email and so that but you don't want to send it like hey joe join us or hey darmash join us for this we start it's like okay let's be really thoughtful we got a thousand people we could invite who are the top 100 okay now let's write a very specific email to that person of why we want to have them show hey darmash yeah the last time you

SPEAKER_96: were on the show was 11 years ago episode this so that initial sentence uh that you should do and so it's basically doing that for you yeah um who knows how good it is or the fidelity of it but

SPEAKER_183: you know that is uh definitely the holy grail uh is to write that ai sentence yeah and so and you

SPEAKER_27: obviously here you have all the different folks in the different stages of your pipeline and where they're at and so yeah standard crm standard crm stuff and so that's great yeah yeah you know this is a great example of taking an existing tool and just how you add in ai and almost make it um really seamless to the workflow that is challenging to us every single day and so i thought these guys did

SPEAKER_251: a really good job i mean this is the thing i talked about earlier with you which was hey i

David Friedberg: want to be able to find startups that i'm unaware of and then send them a note let them know jcal ai is operating and i think this is like one of the holy grails um of what is something we do every day

SPEAKER_01: well we try to network with people well how can we more intelligently network without it being spammy and so if you're an investor in companies if if i know i have 10 meeting slots next week

SPEAKER_03: i and uh then 12 and then 15 and then 30 if i could set an ai loose on the world the baby gpt um to go and say find me anything that's like these companies in our portfolio that have become wins like

SPEAKER_96: uber like robin hood whatever door dash hall these are companies that we know are winners go for just go email people who have companies we think might win and pull it up on pitch book crunch base you know tech crunch new york times whatever could could be compelling uh in the future so i do think that

SPEAKER_03: everybody wants that um and then it just has to not be spammy and the thing i'm finding is fidelity

SPEAKER_01: yeah i'm working on a bunch of ai projects and uh you know even things like tagging a blog post i was talking about our previous thing and having the right tags even getting that fidelity to human i keep hitting 60 70 80 percent and one of the things i'm getting a little concerned about is is this technology going to hit 60 70 80 percent because for me to trust it i really needed to get to 100 yeah and so i think that's where the industry might have been oversold a little bit and i'm really focused on um closing the gap between 60 like we're talking about with the south park stuff and 100 right or 99 or the equivalent of humans which might be 98 97 98 99 so that a human can come out of the process it reminds me of the cafe x coffee machine that we're investors in yeah the reason i invest i knew robots would have a profound impact on food i looked at zoom pizza i looked at the dishwasher robot i looked at a fro-yo i looked at a tea i looked at a salad one i looked at the momentum burgers one that i think costa had invested in

SPEAKER_03: all of those sunny would automate 30 40 50 60 70 percent of the process and if you look at that you're like oh wow it can make 70 percent of french fries you're like great but that doesn't make the

SPEAKER_01: difference that cafe x hit which was this thing's making you you know a dirty chai latte matcha with foam iced warm with some cookies on the side with zero human intervention that last 20 30 percent of self-driving or making a pizza is the hardest part and i suspect for knowledge work it also is the

SPEAKER_20: hardest part but when you close it right now those two machines in sfo the two cavax machines are are

SPEAKER_01: the highest square footage of revenue of anything in the united states in an airport now it's not as high as a jewelry store like i think actually the highest per square foot is either tesla or um tiffany or well the apple store is high but i think it's tiffany tesla and apple are the okay highest per square footage but those cafex machines are such a small footprint footprint yeah and the two of them i think are going to hit like they're getting close to a million between the two of them yeah and it take one hour of human clean up a day to put more beans put more milk you know

SPEAKER_03: take out the garbage kind of situation so man i i i think that has to happen for the knowledge work too whether it's crm or tagging something or making a story my comment there is anything that has to do with

SPEAKER_26: language i feel like we're in the high 90s and you feel high 90s huh i feel 60s 70s yeah and we need

SPEAKER_27: to understand so one of the things that we should do offline is look at your use case and understand where it's coming short because we use it in a lot of different places anything that has to do with

SPEAKER_205: language it can be definitely in the high 90s now right that requires a lot of tuning but you know we'll get there all right so let's let's continue with the demos jcal i know you love these oh i love your demos i need it so what we did here was um we added the circle to our um conversation about netflix there

SPEAKER_27: that we had jcal yep and basically it gave us an overview what's this product called uh circle back

David Friedberg: dot ai okay yeah oh look at this it's giving uh this is like uh vinnie's exactly exactly which is hey we just had this conversation on zoom we're talking about this episode and it says netflix compensation model jason calacanis criticized netflix low payment to actors and creators citing orange is the new black as an example calacanis proposed an equity-based payment deal where actors and creators receive a certain number of netflix shares his he suggested that residuals could be linked to shows viewership

SPEAKER_01: on the platform that's unbelievably accurate and producer nick this is what i've been begging for for the three or four years you're here is like how do we get the solution and it turns out it's right here for with ai really well done to the team at circle yeah and uh you know so they do uh you know

SPEAKER_205: they kind of summarize the conversation and then you know i say hey we were demoing this at the end what i really like is jay cal it also drafts an email to send to folks that work there thanks for

SPEAKER_19: your great insights in yesterday's meeting where we discussed the pressure shift and compensation

SPEAKER_01: models within the streaming industry we tackled some controversial topics putting criticism of netflix approach to payments the impact i mean this is uncanny yeah you can do all the formal formal

SPEAKER_205: changes to change the time exactly it's got the action items that you know uh and look we were just we didn't know it was there like i had nick kind of added in the background when we were talking

SPEAKER_27: about that netflix section um and then the transcript and so look i i think uh you know this continues to just show how fast the space is evolving amazing yeah unbelievable and i think um you know look this this is really good we should have vinnie come back on right and talk about when he's back on with

SPEAKER_251: us like i mean this is going to change everything and this is why in our investment firm i started

SPEAKER_01: recording everything so i said i want all of our investment because you know like uh bridgewater is that ray dalio's farm yeah it is yeah yeah and he records everything and then they transcribe everything and then they insult each other and rate each other and they rate each other all this yeah i mean it sounds wonderful to me um yeah because i'm a lunatic i would love to have somebody sit

SPEAKER_35: there and be like jacal nine years ago you said no to twitter and here's what you said and just put

David Friedberg: it in my face and like make me a better decision maker so i make more money love bridgewater associates

SPEAKER_03: lunacy i want that lunacy and so i started saying hey every investment team meeting yeah and every programs team meeting we're now recording yeah and i told everybody assume that we're going to get hacked at we're going to get hacked at some point or zoom gets hacked and our files get released so don't

SPEAKER_96: ever insult the founder on a call or call them dumb or say they had you know a piece of spinach in their teeth like just basic blocking and tackling so make sure young people don't do something stupid like talk

SPEAKER_19: out of school um because people do do that sometimes it's a mistake don't ever do it um so i was like you know assume you're gonna it's gonna get leaked but what's really interesting is now we've had this

SPEAKER_96: wonderful thing where we're transcribing it bullet points and i'm like man i can't wait till next year when i can point ai at this and say tell me which of those companies we passed on

SPEAKER_01: who who was in the we should invest and who was in the not invest yeah and then let's have uh you know let's see if we can get better yeah be better decision makers because who's co how on earth would you ever coach a venture capitalist to be better at what they do yeah you know like nobody's recording this stuff it's all ephemeral everybody redoes their view of what happened in the past you know of course

SPEAKER_128: yeah would you guys you start using this one jacob like uh yeah i mean i uh right now we're using

SPEAKER_00: notions ai we've tested obviously chat gpt4 um and i guess slack doesn't have any kind of api built into it but we did take claude yeah claude yeah yeah so we just started playing with claude i mean one of the

SPEAKER_03: things that's happening right now is the ai companies are releasing so fast and they're leapfrogging each other that i feel like i'm buying a mobile phone 10 years ago yeah when it was like oh my god the blackberry bold has this and then the nokia has this and then the iphone has this and then the you know android has this and you're like htc has this it feels like those that moment in time where you just can't even keep up with the yeah i don't have a demo but we'll do it next week

SPEAKER_27: a jacob but we just added struct to our company slack ah yeah and so it we added claude to our

SPEAKER_01: slack and so you can kind of ask claude to join the discussion kind of situation because it's the

SPEAKER_357: same kind of thing with the same kind of thing yeah exactly but what is struck's model based on

SPEAKER_01: uh you know is it chat gb4 or is it their own model no it's that probably it's probably one of the

SPEAKER_27: the bigger yeah larger models i don't think it's their own model so you know the interesting thing

SPEAKER_01: here is like do i want my slack being fed into uh a language model or even giving access so this is where it gets a little dangerous because we're talking about proprietary in our side about people's companies and so you know what if we're talking about uber in year one and then some other venture firm has this thing plugged in and they're asking about it and then it spits out some uber data

SPEAKER_26: that ingested right yeah i mean open ai and we can i'll pull up the tweet here open ai has been very

SPEAKER_27: very explicit the last few months about if you have an enterprise relationship with them they do not

SPEAKER_363: train against your data nick tell us about your 45 page investor presentation you dropped into claude

SPEAKER_63: yeah a couple weeks ago uh we were going to cover it all in but we never got to it sam altman spacked a nuclear company that's doing any nuclear reactors all around the country module and i i did it was a 44 45 page investor uh presentation for their stack and i just dropped the pdf and claude to see if he could do it because i remember reading that claude could i think the big thing they were referencing tokens yeah yeah they could do the whole novel of the great gatsby the whole novel and explain it to you in a couple bullet points right it can ingest everything so i tried the investor doc and uh the investor presentation and it was perfect wow explained it in bullet points perfectly i could probably pull it up actually i have it in my history so that's all

SPEAKER_371: good i mean i think i we get it it was really impressive yeah yeah apple also cut off employees

SPEAKER_111: access to chat gpt which makes sense um so yeah i mean there's a rumor now that apple's going to get in on this um it would be amazing if siri actually worked in relation to like how well

SPEAKER_209: bard and chat gpt are working all right everybody this has been and any other demos or anything we should get to or put it up for next week i think we do it next week i got a couple

SPEAKER_375: more but let's queue them up right let's keep them up all right everybody if uh oh did you hear sergey's

SPEAKER_52: back at google too yeah i heard multiple days in the building multiple days a week brad had a uh

SPEAKER_26: like a he does a yoga barn series yes the yoga barn yeah and uh he had uh sergey showed up there

SPEAKER_376: to the last one yeah oh whoa that may be speaking out of school there but uh no i mean sergey's super

SPEAKER_209: smart and um yeah great 10-year hiatus and now he's back in i mean i i think everybody wants to

SPEAKER_111: go back to work i'm i am getting this space in san mateo and um i'm getting my garage and i'm done with remote work i'm never gonna hire i'm not i'm never gonna hire another remote worker i decided

SPEAKER_325: i mean i'll grandfather everybody in i got great remote team members but yeah i think i'm just so

SPEAKER_01: over it i just want to have people in a room there's just too much that's lost in all due respect to remote workers who are crushing it i think one third of remote workers do a better job at home

SPEAKER_202: and i think the other two thirds do less yeah that that's just my i would say two out of three

SPEAKER_01: don't do their best work with one out of three do better work you know what's happening as good or

SPEAKER_27: better you know what's happened what um with all the ai enhancement i know you've been pushing your team that has a i'm just going to put this out there that has a further multiplier effect on those that

SPEAKER_172: are in the office because they can go over each other's shoulders and walk people through what

SPEAKER_27: they're doing yes exactly versus when you're at home you're kind of just using it as a like you know replacing yourself and that's it doing your own job right versus in the office everyone's pushing each

SPEAKER_130: other to go to yes you know it's like going running alone or going running with a group of people yeah

SPEAKER_00: you run with a group of people you you run further you run faster you run better you run alone two out of three people who run alone and i'm in that group i'm just not going to perform at the highest level when i'm in an office i used to do 20 meetings in a day with fans yeah 20 i would go for 12 hours

SPEAKER_03: 20 to 30 minute meetings crazy no breaks eating at the table with a founder no we did our accelerator i would do 20 meetings in a row well i'll give each well actually no we did more i probably do 30 meetings in a day i would do three groups of 10 and i would give each one 15 minutes so yeah for an hour and we were on a clock yeah and we and the clock was in the corner i mean yc does this too everybody does this but the point is performance goes up in a group in a room yeah yeah so uh

SPEAKER_19: i think it's i think and that's that's what i think is going to be the big rebound here is i don't know if you're seeing like all these ai hackathons happening in san francisco yeah like everybody who's in ai is super motivated yeah if you're a founder right now i'm telling all my founders move to san mateo move to uh oakland just just get to san francisco yeah and your chat because right now funding is tight you want to if you want to 10x your chances of being funded come to the bay yeah get a tiny little apartment and ramen it and your chances will go way up i saw your tweak today

SPEAKER_01: though you got 25 000 for anybody who's just 25 no i'm literally you know i got this launch fund four it's going pretty well in terms of raising it and you know our we have this founder university which is a pre-accelerator it's for people who are working on mvps so i'm going to start doing it in person yeah and um you know we are on our sixth cohort we had a thousand people apply we're accepting 250 and then of the 250 i'm giving 40 of them 25k each so of the two so if you you got a one in five chance basically of me give you 25k during the program on the way into the program so if you could show up with an if you show up as a developer with a designer or two designers and a developer or a growth hacker and a developer if it's any two smart people i'll give you 25k for 2.5 percent million dollar valuation i'm your rich uncle rich aunt yeah call me auntie jacal yeah i'll give

SPEAKER_03: you the 25k to just incorporate because i'm meeting people there's a lot of young people who don't even have the money to incorporate they don't have the 25k to just even pay their lawyers or whatever

SPEAKER_57: and i don't care if you lose it because i'm going to do 400 in this next fund launch fund four i'm targeting i'm interested in your feedback on this i'm targeting 400 three to 400 of these 25k bets 7.5 to 10 million if it's a hundred million dollar fund or a 50 million dollar fund then it will be either 7.5 percent to 10 to 20 percent of the fund something like that range but as a group of first bets and then i have an option to put more money into the company so i asked them like hey just

SPEAKER_01: save 250 for me in the next one save me a slice of the of the next round yeah um which is like an official term and uh you know if i can hit one in a hundred i'll one in 50 whatever you know whatever

SPEAKER_209: hit winds up being this would be an incredibly performing portfolio so this is my kind of vision

SPEAKER_128: is to just get more people to start companies i mean it's like what toby talks about with shopify

SPEAKER_27: and e-commerce you are doing and i think the intersection with ai is going to be your real 100x jcal because it's much easier to start these and they fall much more into the flavor that you can help at in those phases as well i think it's incredible well you know if i

SPEAKER_01: if your first stamp in your passport is jcal yeah like when you open your passport at the next stop

SPEAKER_00: they're like oh you know jacal yeah i'm not being a narcissist here i just know that i know everybody yeah and if i don't know somebody there's a 50 chance they know me and you've seen a lot which

SPEAKER_128: means you can help them because you can tell them hey i've seen i'm just even making it even more

SPEAKER_00: basically cindy if you're a known quantity it's like oh you know jacal uh great what's he like or

SPEAKER_03: oh yeah i know jacal uh we're in this company together so when you get 400 investments like i have you know you're kind of a known quantity in decade number two so i'm more than willing to put that stamp in your passport you know jason at calacanis.com for life email me listen sunny you're amazing

SPEAKER_89: thanks so much for educating us every week and i sent you an email while we were talking to meet with the team at inside.com because i want to show you what we built okay yeah let's do it all right thanks