Podcast appearances and mentions of dot com bubble

Shadows, Tomestoner, Fenian, Wrathprayer, Dot Com Bubble, MOW, Invunche, Controlled Bleeding, and Merzbow

In this episode of The Trader's Journey, Anthony sits down with Neil O'Donnell, a seasoned trader who began his career in March 2000—just days after the Nasdaq peak during the dot com bubble.  Neil shares his fascinating path from anthropology student and rower in England to professional trader, breaking down the grind, growth, and evolution it takes to succeed across decades of changing markets. From blow-off tops to meme stocks, from trading the news to adapting to AI and algos, Neil delivers raw insight on staying in the game, adapting without ego, and building a career that lasts through drawdowns, dead periods, and everything in between.

It was a period of unfettered optimism. Nearly everyone thought the sky was the limit, it was a new era, valuations didn't matter. The only thing that mattered was how much you put into it, because it was going to continue to climb. Recently, greed was at extreme levels.   Former Fed Chairman Alan Greenspan had warned about “irrational exuberance” in the stock market as early as 1996. Investors ignored this warning. Instead, they increasingly fixated on the promise of the new technology. The current technology promise is AI.   The dot-com era was known for high valuations. Recently, the markets were at record valuations.   The markets peaked in early 2000. The ensuing bear market lasted more than 2 1/2 years.    The S&P 500 dropped 45%. The S&P 500 finally returned to the same levels in May 2007.    The Nasdaq-100 crashed 80%. The Nasdaq-100 took more than 15 years to return to its dot-com-era peak.   The 2000's became known as the "lost decade".   The Trump administration is changing decades of tariff policy. The transition will be volatile. If the current administration is successful, the long-term benefit for the US  will be tremendous for decades.   I believe we are in for a chaotic year and a bumpy economic ride this year. It would be wise to protect your assets. Diversify. Reduce your risk. Reduce your tax liability. Increase returns safely. Increase liquidity to take advantage of future opportunities.   This is the "Golden Era" of fixed assets. The best rates in 40+ years! Insured with guarantees.      - Your Personal Bank policies are insured, with guarantees, income tax-free, highly liquid, and likely to increase returns for the next 5-10 years!      - Fixed Index Annuities have the best upside potential in 40+ years with no downside market risk. The principle is guaranteed. Some offer signing bonuses up to 16% with strong upside potential.      - Guaranteed Lifetime Income is the highest in 40+ years. Some products offer up to 30% signing bonus. Other products offer up to 10% increased guaranteed lifetime income each year you defer.  

Show Notes Episode 487: Trade You Three Beenz for a Flooz This week Host Dave Bledsoe offers to trade the bartender stock options in his internet start up Beer Me only to have his IPO flop badly. (Again) On the show this week we head back the heady days of the late 90's when everyone had an internet startup ready to fail, the Dot Com Bubble! Along the way we are reminded why you should never take financial advice from a podcast host. (Particularly a drunk who doesn't host a finance podcast) Then we dive right into what it took to turn the internet from an open forum dedicated to the sharing of knowledge and ideas into the cesspool of hate, conspiracy and commercialism that is it today! (Hint: Money.) Then we chart the rise and fall of a generation of dot coms as they grew from tiny venture capital funded stupid ideas into giant stock financed stupid ideas! (That's capitalism baby!) Our Sponsor this week is BadIdea.com, if you have a stupid idea, we will give you money for it! We open with news footage of the stock market crashing and close with Wyatt McCubbin explaining what happens when the stock market crashes. Show Theme: Hypnostate Prelude to Common Sense The Show on Bluesky: https://bsky.app/profile/whatthehellpodcast.bsky.social The Show on Facebook: https://www.facebook.com/whatthehellpodcast/ The Show on Youtube:  https://www.youtube.com/channel/UCjxP5ywpZ-O7qu_MFkLXQUQ The Show on Instagram: https://www.instagram.com/whatthehellwereyouthinkingpod/ Our Discord Server: https://discord.gg/kHmmrjptrq Our Website: www.whatthehellpodcast.com Patreon:  https://www.patreon.com/Whatthehellpodcast The Show Line: 347 687 9601 Closing Music: https://youtu.be/jlR_g0k6jdo?si=DSdGI8O0zxYo5MsY Buy Our Stuff: https://www.seltzerkings.com/shop Citations Needed: What Was the First Thing Sold on the Internet? https://www.smithsonianmag.com/smart-news/what-was-first-thing-sold-internet-180957414/ 17 Companies That Failed During the Dot-Com Bubble: What Can They Teach Us About the NFT Market? https://www.startwithnfts.com/posts/17-companies-that-failed-during-the-dot-com-bubble-what-can-they-teach-us-about-nfts/ What Was the Dot-Com Bubble & Why Did It Burst? https://www.thestreet.com/dictionary/dot-com-bubble-and-burst Learn more about your ad choices. Visit podcastchoices.com/adchoices

Some worry history is repeating itself, but the reality is different. Here's why AI isn't the bubble you think it is.

Artificial intelligence is generating a ton of money and buzz. But could we be in a bubble? WSJ reporter Rolfe Winklers tells us what lessons we can learn from the early 2000s. Plus, can traditional data-storage companies keep up with AI's demands? WSJ reporter John Keilman explores innovations in hard-disk drives. Shara Tibken hosts. Sign up for the WSJ's free Technology newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is the A.I. boom sustainable growth or a new bubble? Phil Blancato joins Nicole Petallides to discuss A.I. 25 years after the dot-com bubble. He talks about lessons learned from the 2000 crash. He also notes that now is a good time to buy Mag 7 names while people are fearful. He then goes over his stock picks: JPMorgan (JPM), Entergy Corp. (ETR), and Costco (COST).======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

Recent sell-offs in Big Tech are tied to valuations, not cyclical changes, according to Jack Albin. That doesn't stop him from making comparisons between the A.I. craze to the "Dot Com" bubble of the internet's early ages. He also notes the "tug of war of capital" happening between stocks and bonds.======== Schwab Network ========Empowering every investor and trader, every market day.Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

The times are changing, and AI is driving a major shift in how we approach product and leadership. It's exciting, unpredictable, and inevitable—but how do we navigate this change?Hannah Clark sits down with Greg Petroff, a design thought leader and seasoned executive, to discuss the tools, organizational shifts, and strategies that leaders need to adopt in this fast-paced era. Tune in to hear Greg's insights on adapting to change and staying ahead in the AI-driven world.Resources from this episode:Subscribe to The Product Manager newsletterConnect with Greg on LinkedInCheck out Greg's Substack:  Improbable Futures

David Rosenberg believes that the investment community has collectively lost their minds, as they continue to pile in and double-down on a small handful of tech stocks whose valuations are nowhere near reflecting reality. David sees striking similarities between today's market and the dot com bubble and he thinks that when the dust settles, investors who kept their wits about them and didn't buy into the hype could be well-positioned to take advantage of bargain basement prices.Rosenberg Research: https://rosenbergresearch.comFollow Jesse Day on X: https://x.com/jessebdayCommodity Culture on Youtube: https://youtube.com/c/CommodityCulture

If you're in SF, join us tomorrow for a fun meetup at CodeGen Night!If you're in NYC, join us for AI Engineer Summit! The Agent Engineering track is now sold out, but 25 tickets remain for AI Leadership and 5 tickets for the workshops. You can see the full schedule of speakers and workshops at https://ai.engineer!It's exceedingly hard to introduce someone like Bret Taylor. We could recite his Wikipedia page, or his extensive work history through Silicon Valley's greatest companies, but everyone else already does that.As a podcast by AI engineers for AI engineers, we had the opportunity to do something a little different. We wanted to dig into what Bret sees from his vantage point at the top of our industry for the last 2 decades, and how that explains the rise of the AI Architect at Sierra, the leading conversational AI/CX platform.“Across our customer base, we are seeing a new role emerge - the role of the AI architect. These leaders are responsible for helping define, manage and evolve their company's AI agent over time. They come from a variety of both technical and business backgrounds, and we think that every company will have one or many AI architects managing their AI agent and related experience.”In our conversation, Bret Taylor confirms the Paul Buchheit legend that he rewrote Google Maps in a weekend, armed with only the help of a then-nascent Google Closure Compiler and no other modern tooling. But what we find remarkable is that he was the PM of Maps, not an engineer, though of course he still identifies as one. We find this theme recurring throughout Bret's career and worldview. We think it is plain as day that AI leadership will have to be hands-on and technical, especially when the ground is shifting as quickly as it is today:“There's a lot of power in combining product and engineering into as few people as possible… few great things have been created by committee.”“If engineering is an order taking organization for product you can sometimes make meaningful things, but rarely will you create extremely well crafted breakthrough products. Those tend to be small teams who deeply understand the customer need that they're solving, who have a maniacal focus on outcomes.”“And I think the reason why is if you look at like software as a service five years ago, maybe you can have a separation of product and engineering because most software as a service created five years ago. I wouldn't say there's like a lot of technological breakthroughs required for most business applications. And if you're making expense reporting software or whatever, it's useful… You kind of know how databases work, how to build auto scaling with your AWS cluster, whatever, you know, it's just, you're just applying best practices to yet another problem. "When you have areas like the early days of mobile development or the early days of interactive web applications, which I think Google Maps and Gmail represent, or now AI agents, you're in this constant conversation with what the requirements of your customers and stakeholders are and all the different people interacting with it and the capabilities of the technology. And it's almost impossible to specify the requirements of a product when you're not sure of the limitations of the technology itself.”This is the first time the difference between technical leadership for “normal” software and for “AI” software was articulated this clearly for us, and we'll be thinking a lot about this going forward. We left a lot of nuggets in the conversation, so we hope you'll just dive in with us (and thank Bret for joining the pod!)Timestamps* 00:00:02 Introductions and Bret Taylor's background* 00:01:23 Bret's experience at Stanford and the dot-com era* 00:04:04 The story of rewriting Google Maps backend* 00:11:06 Early days of interactive web applications at Google* 00:15:26 Discussion on product management and engineering roles* 00:21:00 AI and the future of software development* 00:26:42 Bret's approach to identifying customer needs and building AI companies* 00:32:09 The evolution of business models in the AI era* 00:41:00 The future of programming languages and software development* 00:49:38 Challenges in precisely communicating human intent to machines* 00:56:44 Discussion on Artificial General Intelligence (AGI) and its impact* 01:08:51 The future of agent-to-agent communication* 01:14:03 Bret's involvement in the OpenAI leadership crisis* 01:22:11 OpenAI's relationship with Microsoft* 01:23:23 OpenAI's mission and priorities* 01:27:40 Bret's guiding principles for career choices* 01:29:12 Brief discussion on pasta-making* 01:30:47 How Bret keeps up with AI developments* 01:32:15 Exciting research directions in AI* 01:35:19 Closing remarks and hiring at Sierra Transcript[00:02:05] Introduction and Guest Welcome[00:02:05] Alessio: Hey everyone, welcome to the Latent Space Podcast. This is Alessio, partner and CTO at Decibel Partners, and I'm joined by my co host swyx, founder of smol.ai.[00:02:17] swyx: Hey, and today we're super excited to have Bret Taylor join us. Welcome. Thanks for having me. It's a little unreal to have you in the studio.[00:02:25] swyx: I've read about you so much over the years, like even before. Open AI effectively. I mean, I use Google Maps to get here. So like, thank you for everything that you've done. Like, like your story history, like, you know, I think people can find out what your greatest hits have been.[00:02:40] Bret Taylor's Early Career and Education[00:02:40] swyx: How do you usually like to introduce yourself when, you know, you talk about, you summarize your career, like, how do you look at yourself?[00:02:47] Bret: Yeah, it's a great question. You know, we, before we went on the mics here, we're talking about the audience for this podcast being more engineering. And I do think depending on the audience, I'll introduce myself differently because I've had a lot of [00:03:00] corporate and board roles. I probably self identify as an engineer more than anything else though.[00:03:04] Bret: So even when I was. Salesforce, I was coding on the weekends. So I think of myself as an engineer and then all the roles that I do in my career sort of start with that just because I do feel like engineering is sort of a mindset and how I approach most of my life. So I'm an engineer first and that's how I describe myself.[00:03:24] Bret: You majored in computer[00:03:25] swyx: science, like 1998. And, and I was high[00:03:28] Bret: school, actually my, my college degree was Oh, two undergrad. Oh, three masters. Right. That old.[00:03:33] swyx: Yeah. I mean, no, I was going, I was going like 1998 to 2003, but like engineering wasn't as, wasn't a thing back then. Like we didn't have the title of senior engineer, you know, kind of like, it was just.[00:03:44] swyx: You were a programmer, you were a developer, maybe. What was it like in Stanford? Like, what was that feeling like? You know, was it, were you feeling like on the cusp of a great computer revolution? Or was it just like a niche, you know, interest at the time?[00:03:57] Stanford and the Dot-Com Bubble[00:03:57] Bret: Well, I was at Stanford, as you said, from 1998 to [00:04:00] 2002.[00:04:02] Bret: 1998 was near the peak of the dot com bubble. So. This is back in the day where most people that they're coding in the computer lab, just because there was these sun microsystems, Unix boxes there that most of us had to do our assignments on. And every single day there was a. com like buying pizza for everybody.[00:04:20] Bret: I didn't have to like, I got. Free food, like my first two years of university and then the dot com bubble burst in the middle of my college career. And so by the end there was like tumbleweed going to the job fair, you know, it was like, cause it was hard to describe unless you were there at the time, the like level of hype and being a computer science major at Stanford was like, A thousand opportunities.[00:04:45] Bret: And then, and then when I left, it was like Microsoft, IBM.[00:04:49] Joining Google and Early Projects[00:04:49] Bret: And then the two startups that I applied to were VMware and Google. And I ended up going to Google in large part because a woman named Marissa Meyer, who had been a teaching [00:05:00] assistant when I was, what was called a section leader, which was like a junior teaching assistant kind of for one of the big interest.[00:05:05] Bret: Yes. Classes. She had gone there. And she was recruiting me and I knew her and it was sort of felt safe, you know, like, I don't know. I thought about it much, but it turned out to be a real blessing. I realized like, you know, you always want to think you'd pick Google if given the option, but no one knew at the time.[00:05:20] Bret: And I wonder if I'd graduated in like 1999 where I've been like, mom, I just got a job at pets. com. It's good. But you know, at the end I just didn't have any options. So I was like, do I want to go like make kernel software at VMware? Do I want to go build search at Google? And I chose Google. 50, 50 ball.[00:05:36] Bret: I'm not really a 50, 50 ball. So I feel very fortunate in retrospect that the economy collapsed because in some ways it forced me into like one of the greatest companies of all time, but I kind of lucked into it, I think.[00:05:47] The Google Maps Rewrite Story[00:05:47] Alessio: So the famous story about Google is that you rewrote the Google maps back in, in one week after the map quest quest maps acquisition, what was the story there?[00:05:57] Alessio: Is it. Actually true. Is it [00:06:00] being glorified? Like how, how did that come to be? And is there any detail that maybe Paul hasn't shared before?[00:06:06] Bret: It's largely true, but I'll give the color commentary. So it was actually the front end, not the back end, but it turns out for Google maps, the front end was sort of the hard part just because Google maps was.[00:06:17] Bret: Largely the first ish kind of really interactive web application, say first ish. I think Gmail certainly was though Gmail, probably a lot of people then who weren't engineers probably didn't appreciate its level of interactivity. It was just fast, but. Google maps, because you could drag the map and it was sort of graphical.[00:06:38] Bret: My, it really in the mainstream, I think, was it a map[00:06:41] swyx: quest back then that was, you had the arrows up and down, it[00:06:44] Bret: was up and down arrows. Each map was a single image and you just click left and then wait for a few seconds to the new map to let it was really small too, because generating a big image was kind of expensive on computers that day.[00:06:57] Bret: So Google maps was truly innovative in that [00:07:00] regard. The story on it. There was a small company called where two technologies started by two Danish brothers, Lars and Jens Rasmussen, who are two of my closest friends now. They had made a windows app called expedition, which had beautiful maps. Even in 2000.[00:07:18] Bret: For whenever we acquired or sort of acquired their company, Windows software was not particularly fashionable, but they were really passionate about mapping and we had made a local search product that was kind of middling in terms of popularity, sort of like a yellow page of search product. So we wanted to really go into mapping.[00:07:36] Bret: We'd started working on it. Their small team seemed passionate about it. So we're like, come join us. We can build this together.[00:07:42] Technical Challenges and Innovations[00:07:42] Bret: It turned out to be a great blessing that they had built a windows app because you're less technically constrained when you're doing native code than you are building a web browser, particularly back then when there weren't really interactive web apps and it ended up.[00:07:56] Bret: Changing the level of quality that we [00:08:00] wanted to hit with the app because we were shooting for something that felt like a native windows application. So it was a really good fortune that we sort of, you know, their unusual technical choices turned out to be the greatest blessing. So we spent a lot of time basically saying, how can you make a interactive draggable map in a web browser?[00:08:18] Bret: How do you progressively load, you know, new map tiles, you know, as you're dragging even things like down in the weeds of the browser at the time, most browsers like Internet Explorer, which was dominant at the time would only load two images at a time from the same domain. So we ended up making our map tile servers have like.[00:08:37] Bret: Forty different subdomains so we could load maps and parallels like lots of hacks. I'm happy to go into as much as like[00:08:44] swyx: HTTP connections and stuff.[00:08:46] Bret: They just like, there was just maximum parallelism of two. And so if you had a map, set of map tiles, like eight of them, so So we just, we were down in the weeds of the browser anyway.[00:08:56] Bret: So it was lots of plumbing. I can, I know a lot more about browsers than [00:09:00] most people, but then by the end of it, it was fairly, it was a lot of duct tape on that code. If you've ever done an engineering project where you're not really sure the path from point A to point B, it's almost like. Building a house by building one room at a time.[00:09:14] Bret: The, there's not a lot of architectural cohesion at the end. And then we acquired a company called Keyhole, which became Google earth, which was like that three, it was a native windows app as well, separate app, great app, but with that, we got licenses to all this satellite imagery. And so in August of 2005, we added.[00:09:33] Bret: Satellite imagery to Google Maps, which added even more complexity in the code base. And then we decided we wanted to support Safari. There was no mobile phones yet. So Safari was this like nascent browser on, on the Mac. And it turns out there's like a lot of decisions behind the scenes, sort of inspired by this windows app, like heavy use of XML and XSLT and all these like.[00:09:54] Bret: Technologies that were like briefly fashionable in the early two thousands and everyone hates now for good [00:10:00] reason. And it turns out that all of the XML functionality and Internet Explorer wasn't supporting Safari. So people are like re implementing like XML parsers. And it was just like this like pile of s**t.[00:10:11] Bret: And I had to say a s**t on your part. Yeah, of[00:10:12] Alessio: course.[00:10:13] Bret: So. It went from this like beautifully elegant application that everyone was proud of to something that probably had hundreds of K of JavaScript, which sounds like nothing. Now we're talking like people have modems, you know, not all modems, but it was a big deal.[00:10:29] Bret: So it was like slow. It took a while to load and just, it wasn't like a great code base. Like everything was fragile. So I just got. Super frustrated by it. And then one weekend I did rewrite all of it. And at the time the word JSON hadn't been coined yet too, just to give you a sense. So it's all XML.[00:10:47] swyx: Yeah.[00:10:47] Bret: So we used what is now you would call JSON, but I just said like, let's use eval so that we can parse the data fast. And, and again, that's, it would literally as JSON, but at the time there was no name for it. So we [00:11:00] just said, let's. Pass on JavaScript from the server and eval it. And then somebody just refactored the whole thing.[00:11:05] Bret: And, and it wasn't like I was some genius. It was just like, you know, if you knew everything you wished you had known at the beginning and I knew all the functionality, cause I was the primary, one of the primary authors of the JavaScript. And I just like, I just drank a lot of coffee and just stayed up all weekend.[00:11:22] Bret: And then I, I guess I developed a bit of reputation and no one knew about this for a long time. And then Paul who created Gmail and I ended up starting a company with him too, after all of this told this on a podcast and now it's large, but it's largely true. I did rewrite it and it, my proudest thing.[00:11:38] Bret: And I think JavaScript people appreciate this. Like the un G zipped bundle size for all of Google maps. When I rewrote, it was 20 K G zipped. It was like much smaller for the entire application. It went down by like 10 X. So. What happened on Google? Google is a pretty mainstream company. And so like our usage is shot up because it turns out like it's faster.[00:11:57] Bret: Just being faster is worth a lot of [00:12:00] percentage points of growth at a scale of Google. So how[00:12:03] swyx: much modern tooling did you have? Like test suites no compilers.[00:12:07] Bret: Actually, that's not true. We did it one thing. So I actually think Google, I, you can. Download it. There's a, Google has a closure compiler, a closure compiler.[00:12:15] Bret: I don't know if anyone still uses it. It's gone. Yeah. Yeah. It's sort of gone out of favor. Yeah. Well, even until recently it was better than most JavaScript minifiers because it was more like it did a lot more renaming of variables and things. Most people use ES build now just cause it's fast and closure compilers built on Java and super slow and stuff like that.[00:12:37] Bret: But, so we did have that, that was it. Okay.[00:12:39] The Evolution of Web Applications[00:12:39] Bret: So and that was treated internally, you know, it was a really interesting time at Google at the time because there's a lot of teams working on fairly advanced JavaScript when no one was. So Google suggest, which Kevin Gibbs was the tech lead for, was the first kind of type ahead, autocomplete, I believe in a web browser, and now it's just pervasive in search boxes that you sort of [00:13:00] see a type ahead there.[00:13:01] Bret: I mean, chat, dbt[00:13:01] swyx: just added it. It's kind of like a round trip.[00:13:03] Bret: Totally. No, it's now pervasive as a UI affordance, but that was like Kevin's 20 percent project. And then Gmail, Paul you know, he tells the story better than anyone, but he's like, you know, basically was scratching his own itch, but what was really neat about it is email, because it's such a productivity tool, just needed to be faster.[00:13:21] Bret: So, you know, he was scratching his own itch of just making more stuff work on the client side. And then we, because of Lars and Yen sort of like setting the bar of this windows app or like we need our maps to be draggable. So we ended up. Not only innovate in terms of having a big sync, what would be called a single page application today, but also all the graphical stuff you know, we were crashing Firefox, like it was going out of style because, you know, when you make a document object model with the idea that it's a document and then you layer on some JavaScript and then we're essentially abusing all of this, it just was running into code paths that were not.[00:13:56] Bret: Well, it's rotten, you know, at this time. And so it was [00:14:00] super fun. And, and, you know, in the building you had, so you had compilers, people helping minify JavaScript just practically, but there is a great engineering team. So they were like, that's why Closure Compiler is so good. It was like a. Person who actually knew about programming languages doing it, not just, you know, writing regular expressions.[00:14:17] Bret: And then the team that is now the Chrome team believe, and I, I don't know this for a fact, but I'm pretty sure Google is the main contributor to Firefox for a long time in terms of code. And a lot of browser people were there. So every time we would crash Firefox, we'd like walk up two floors and say like, what the hell is going on here?[00:14:35] Bret: And they would load their browser, like in a debugger. And we could like figure out exactly what was breaking. And you can't change the code, right? Cause it's the browser. It's like slow, right? I mean, slow to update. So, but we could figure out exactly where the bug was and then work around it in our JavaScript.[00:14:52] Bret: So it was just like new territory. Like so super, super fun time, just like a lot of, a lot of great engineers figuring out [00:15:00] new things. And And now, you know, the word, this term is no longer in fashion, but the word Ajax, which was asynchronous JavaScript and XML cause I'm telling you XML, but see the word XML there, to be fair, the way you made HTTP requests from a client to server was this.[00:15:18] Bret: Object called XML HTTP request because Microsoft and making Outlook web access back in the day made this and it turns out to have nothing to do with XML. It's just a way of making HTTP requests because XML was like the fashionable thing. It was like that was the way you, you know, you did it. But the JSON came out of that, you know, and then a lot of the best practices around building JavaScript applications is pre React.[00:15:44] Bret: I think React was probably the big conceptual step forward that we needed. Even my first social network after Google, we used a lot of like HTML injection and. Making real time updates was still very hand coded and it's really neat when you [00:16:00] see conceptual breakthroughs like react because it's, I just love those things where it's like obvious once you see it, but it's so not obvious until you do.[00:16:07] Bret: And actually, well, I'm sure we'll get into AI, but I, I sort of feel like we'll go through that evolution with AI agents as well that I feel like we're missing a lot of the core abstractions that I think in 10 years we'll be like, gosh, how'd you make agents? Before that, you know, but it was kind of that early days of web applications.[00:16:22] swyx: There's a lot of contenders for the reactive jobs of of AI, but no clear winner yet. I would say one thing I was there for, I mean, there's so much we can go into there. You just covered so much.[00:16:32] Product Management and Engineering Synergy[00:16:32] swyx: One thing I just, I just observe is that I think the early Google days had this interesting mix of PM and engineer, which I think you are, you didn't, you didn't wait for PM to tell you these are my, this is my PRD.[00:16:42] swyx: This is my requirements.[00:16:44] mix: Oh,[00:16:44] Bret: okay.[00:16:45] swyx: I wasn't technically a software engineer. I mean,[00:16:48] Bret: by title, obviously. Right, right, right.[00:16:51] swyx: It's like a blend. And I feel like these days, product is its own discipline and its own lore and own industry and engineering is its own thing. And there's this process [00:17:00] that happens and they're kind of separated, but you don't produce as good of a product as if they were the same person.[00:17:06] swyx: And I'm curious, you know, if, if that, if that sort of resonates in, in, in terms of like comparing early Google versus modern startups that you see out there,[00:17:16] Bret: I certainly like wear a lot of hats. So, you know, sort of biased in this, but I really agree that there's a lot of power and combining product design engineering into as few people as possible because, you know few great things have been created by committee, you know, and so.[00:17:33] Bret: If engineering is an order taking organization for product you can sometimes make meaningful things, but rarely will you create extremely well crafted breakthrough products. Those tend to be small teams who deeply understand the customer need that they're solving, who have a. Maniacal focus on outcomes.[00:17:53] Bret: And I think the reason why it's, I think for some areas, if you look at like software as a service five years ago, maybe you can have a [00:18:00] separation of product and engineering because most software as a service created five years ago. I wouldn't say there's like a lot of like. Technological breakthroughs required for most, you know, business applications.[00:18:11] Bret: And if you're making expense reporting software or whatever, it's useful. I don't mean to be dismissive of expense reporting software, but you probably just want to understand like, what are the requirements of the finance department? What are the requirements of an individual file expense report? Okay.[00:18:25] Bret: Go implement that. And you kind of know how web applications are implemented. You kind of know how to. How databases work, how to build auto scaling with your AWS cluster, whatever, you know, it's just, you're just applying best practices to yet another problem when you have areas like the early days of mobile development or the early days of interactive web applications, which I think Google Maps and Gmail represent, or now AI agents, you're in this constant conversation with what the requirements of your customers and stakeholders are and all the different people interacting with it.[00:18:58] Bret: And the capabilities of the [00:19:00] technology. And it's almost impossible to specify the requirements of a product when you're not sure of the limitations of the technology itself. And that's why I use the word conversation. It's not literal. That's sort of funny to use that word in the age of conversational AI.[00:19:15] Bret: You're constantly sort of saying, like, ideally, you could sprinkle some magic AI pixie dust and solve all the world's problems, but it's not the way it works. And it turns out that actually, I'll just give an interesting example.[00:19:26] AI Agents and Modern Tooling[00:19:26] Bret: I think most people listening probably use co pilots to code like Cursor or Devon or Microsoft Copilot or whatever.[00:19:34] Bret: Most of those tools are, they're remarkable. I'm, I couldn't, you know, imagine development without them now, but they're not autonomous yet. Like I wouldn't let it just write most code without my interactively inspecting it. We just are somewhere between it's an amazing co pilot and it's an autonomous software engineer.[00:19:53] Bret: As a product manager, like your aspirations for what the product is are like kind of meaningful. But [00:20:00] if you're a product person, yeah, of course you'd say it should be autonomous. You should click a button and program should come out the other side. The requirements meaningless. Like what matters is like, what is based on the like very nuanced limitations of the technology.[00:20:14] Bret: What is it capable of? And then how do you maximize the leverage? It gives a software engineering team, given those very nuanced trade offs. Coupled with the fact that those nuanced trade offs are changing more rapidly than any technology in my memory, meaning every few months you'll have new models with new capabilities.[00:20:34] Bret: So how do you construct a product that can absorb those new capabilities as rapidly as possible as well? That requires such a combination of technical depth and understanding the customer that you really need more integration. Of product design and engineering. And so I think it's why with these big technology waves, I think startups have a bit of a leg up relative to incumbents because they [00:21:00] tend to be sort of more self actualized in terms of just like bringing those disciplines closer together.[00:21:06] Bret: And in particular, I think entrepreneurs, the proverbial full stack engineers, you know, have a leg up as well because. I think most breakthroughs happen when you have someone who can understand those extremely nuanced technical trade offs, have a vision for a product. And then in the process of building it, have that, as I said, like metaphorical conversation with the technology, right?[00:21:30] Bret: Gosh, I ran into a technical limit that I didn't expect. It's not just like changing that feature. You might need to refactor the whole product based on that. And I think that's, that it's particularly important right now. So I don't, you know, if you, if you're building a big ERP system, probably there's a great reason to have product and engineering.[00:21:51] Bret: I think in general, the disciplines are there for a reason. I think when you're dealing with something as nuanced as the like technologies, like large language models today, there's a ton of [00:22:00] advantage of having. Individuals or organizations that integrate the disciplines more formally.[00:22:05] Alessio: That makes a lot of sense.[00:22:06] Alessio: I've run a lot of engineering teams in the past, and I think the product versus engineering tension has always been more about effort than like whether or not the feature is buildable. But I think, yeah, today you see a lot more of like. Models actually cannot do that. And I think the most interesting thing is on the startup side, people don't yet know where a lot of the AI value is going to accrue.[00:22:26] Alessio: So you have this rush of people building frameworks, building infrastructure, layered things, but we don't really know the shape of the compute. I'm curious that Sierra, like how you thought about building an house, a lot of the tooling for evals or like just, you know, building the agents and all of that.[00:22:41] Alessio: Versus how you see some of the startup opportunities that is maybe still out there.[00:22:46] Bret: We build most of our tooling in house at Sierra, not all. It's, we don't, it's not like not invented here syndrome necessarily, though, maybe slightly guilty of that in some ways, but because we're trying to build a platform [00:23:00] that's in Dorian, you know, we really want to have control over our own destiny.[00:23:03] Bret: And you had made a comment earlier that like. We're still trying to figure out who like the reactive agents are and the jury is still out. I would argue it hasn't been created yet. I don't think the jury is still out to go use that metaphor. We're sort of in the jQuery era of agents, not the react era.[00:23:19] Bret: And, and that's like a throwback for people listening,[00:23:22] swyx: we shouldn't rush it. You know?[00:23:23] Bret: No, yeah, that's my point is. And so. Because we're trying to create an enduring company at Sierra that outlives us, you know, I'm not sure we want to like attach our cart to some like to a horse where it's not clear that like we've figured out and I actually want as a company, we're trying to enable just at a high level and I'll, I'll quickly go back to tech at Sierra, we help consumer brands build customer facing AI agents.[00:23:48] Bret: So. Everyone from Sonos to ADT home security to Sirius XM, you know, if you call them on the phone and AI will pick up with you, you know, chat with them on the Sirius XM homepage. It's an AI agent called Harmony [00:24:00] that they've built on our platform. We're what are the contours of what it means for someone to build an end to end complete customer experience with AI with conversational AI.[00:24:09] Bret: You know, we really want to dive into the deep end of, of all the trade offs to do it. You know, where do you use fine tuning? Where do you string models together? You know, where do you use reasoning? Where do you use generation? How do you use reasoning? How do you express the guardrails of an agentic process?[00:24:25] Bret: How do you impose determinism on a fundamentally non deterministic technology? There's just a lot of really like as an important design space. And I could sit here and tell you, we have the best approach. Every entrepreneur will, you know. But I hope that in two years, we look back at our platform and laugh at how naive we were, because that's the pace of change broadly.[00:24:45] Bret: If you talk about like the startup opportunities, I'm not wholly skeptical of tools companies, but I'm fairly skeptical. There's always an exception for every role, but I believe that certainly there's a big market for [00:25:00] frontier models, but largely for companies with huge CapEx budgets. So. Open AI and Microsoft's Anthropic and Amazon Web Services, Google Cloud XAI, which is very well capitalized now, but I think the, the idea that a company can make money sort of pre training a foundation model is probably not true.[00:25:20] Bret: It's hard to, you're competing with just, you know, unreasonably large CapEx budgets. And I just like the cloud infrastructure market, I think will be largely there. I also really believe in the applications of AI. And I define that not as like building agents or things like that. I define it much more as like, you're actually solving a problem for a business.[00:25:40] Bret: So it's what Harvey is doing in legal profession or what cursor is doing for software engineering or what we're doing for customer experience and customer service. The reason I believe in that is I do think that in the age of AI, what's really interesting about software is it can actually complete a task.[00:25:56] Bret: It can actually do a job, which is very different than the value proposition of [00:26:00] software was to ancient history two years ago. And as a consequence, I think the way you build a solution and For a domain is very different than you would have before, which means that it's not obvious, like the incumbent incumbents have like a leg up, you know, necessarily, they certainly have some advantages, but there's just such a different form factor, you know, for providing a solution and it's just really valuable.[00:26:23] Bret: You know, it's. Like just think of how much money cursor is saving software engineering teams or the alternative, how much revenue it can produce tool making is really challenging. If you look at the cloud market, just as a analog, there are a lot of like interesting tools, companies, you know, Confluent, Monetized Kafka, Snowflake, Hortonworks, you know, there's a, there's a bunch of them.[00:26:48] Bret: A lot of them, you know, have that mix of sort of like like confluence or have the open source or open core or whatever you call it. I, I, I'm not an expert in this area. You know, I do think [00:27:00] that developers are fickle. I think that in the tool space, I probably like. Default towards open source being like the area that will win.[00:27:09] Bret: It's hard to build a company around this and then you end up with companies sort of built around open source to that can work. Don't get me wrong, but I just think that it's nowadays the tools are changing so rapidly that I'm like, not totally skeptical of tool makers, but I just think that open source will broadly win, but I think that the CapEx required for building frontier models is such that it will go to a handful of big companies.[00:27:33] Bret: And then I really believe in agents for specific domains which I think will, it's sort of the analog to software as a service in this new era. You know, it's like, if you just think of the cloud. You can lease a server. It's just a low level primitive, or you can buy an app like you know, Shopify or whatever.[00:27:51] Bret: And most people building a storefront would prefer Shopify over hand rolling their e commerce storefront. I think the same thing will be true of AI. So [00:28:00] I've. I tend to like, if I have a, like an entrepreneur asked me for advice, I'm like, you know, move up the stack as far as you can towards a customer need.[00:28:09] Bret: Broadly, but I, but it doesn't reduce my excitement about what is the reactive building agents kind of thing, just because it is, it is the right question to ask, but I think we'll probably play out probably an open source space more than anything else.[00:28:21] swyx: Yeah, and it's not a priority for you. There's a lot in there.[00:28:24] swyx: I'm kind of curious about your idea maze towards, there are many customer needs. You happen to identify customer experience as yours, but it could equally have been coding assistance or whatever. I think for some, I'm just kind of curious at the top down, how do you look at the world in terms of the potential problem space?[00:28:44] swyx: Because there are many people out there who are very smart and pick the wrong problem.[00:28:47] Bret: Yeah, that's a great question.[00:28:48] Future of Software Development[00:28:48] Bret: By the way, I would love to talk about the future of software, too, because despite the fact it didn't pick coding, I have a lot of that, but I can talk to I can answer your question, though, you know I think when a technology is as [00:29:00] cool as large language models.[00:29:02] Bret: You just see a lot of people starting from the technology and searching for a problem to solve. And I think it's why you see a lot of tools companies, because as a software engineer, you start building an app or a demo and you, you encounter some pain points. You're like,[00:29:17] swyx: a lot of[00:29:17] Bret: people are experiencing the same pain point.[00:29:19] Bret: What if I make it? That it's just very incremental. And you know, I always like to use the metaphor, like you can sell coffee beans, roasted coffee beans. You can add some value. You took coffee beans and you roasted them and roasted coffee beans largely, you know, are priced relative to the cost of the beans.[00:29:39] Bret: Or you can sell a latte and a latte. Is rarely priced directly like as a percentage of coffee bean prices. In fact, if you buy a latte at the airport, it's a captive audience. So it's a really expensive latte. And there's just a lot that goes into like. How much does a latte cost? And I bring it up because there's a supply chain from growing [00:30:00] coffee beans to roasting coffee beans to like, you know, you could make one at home or you could be in the airport and buy one and the margins of the company selling lattes in the airport is a lot higher than the, you know, people roasting the coffee beans and it's because you've actually solved a much more acute human problem in the airport.[00:30:19] Bret: And, and it's just worth a lot more to that person in that moment. It's kind of the way I think about technology too. It sounds funny to liken it to coffee beans, but you're selling tools on top of a large language model yet in some ways your market is big, but you're probably going to like be price compressed just because you're sort of a piece of infrastructure and then you have open source and all these other things competing with you naturally.[00:30:43] Bret: If you go and solve a really big business problem for somebody, that's actually like a meaningful business problem that AI facilitates, they will value it according to the value of that business problem. And so I actually feel like people should just stop. You're like, no, that's, that's [00:31:00] unfair. If you're searching for an idea of people, I, I love people trying things, even if, I mean, most of the, a lot of the greatest ideas have been things no one believed in.[00:31:07] Bret: So I like, if you're passionate about something, go do it. Like who am I to say, yeah, a hundred percent. Or Gmail, like Paul as far, I mean I, some of it's Laura at this point, but like Gmail is Paul's own email for a long time. , and then I amusingly and Paul can't correct me, I'm pretty sure he sent her in a link and like the first comment was like, this is really neat.[00:31:26] Bret: It would be great. It was not your email, but my own . I don't know if it's a true story. I'm pretty sure it's, yeah, I've read that before. So scratch your own niche. Fine. Like it depends on what your goal is. If you wanna do like a venture backed company, if its a. Passion project, f*****g passion, do it like don't listen to anybody.[00:31:41] Bret: In fact, but if you're trying to start, you know an enduring company, solve an important business problem. And I, and I do think that in the world of agents, the software industries has shifted where you're not just helping people more. People be more productive, but you're actually accomplishing tasks autonomously.[00:31:58] Bret: And as a consequence, I think the [00:32:00] addressable market has just greatly expanded just because software can actually do things now and actually accomplish tasks and how much is coding autocomplete worth. A fair amount. How much is the eventual, I'm certain we'll have it, the software agent that actually writes the code and delivers it to you, that's worth a lot.[00:32:20] Bret: And so, you know, I would just maybe look up from the large language models and start thinking about the economy and, you know, think from first principles. I don't wanna get too far afield, but just think about which parts of the economy. We'll benefit most from this intelligence and which parts can absorb it most easily.[00:32:38] Bret: And what would an agent in this space look like? Who's the customer of it is the technology feasible. And I would just start with these business problems more. And I think, you know, the best companies tend to have great engineers who happen to have great insight into a market. And it's that last part that I think some people.[00:32:56] Bret: Whether or not they have, it's like people start so much in the technology, they [00:33:00] lose the forest for the trees a little bit.[00:33:02] Alessio: How do you think about the model of still selling some sort of software versus selling more package labor? I feel like when people are selling the package labor, it's almost more stateless, you know, like it's easier to swap out if you're just putting an input and getting an output.[00:33:16] Alessio: If you think about coding, if there's no ID, you're just putting a prompt and getting back an app. It doesn't really matter. Who generates the app, you know, you have less of a buy in versus the platform you're building, I'm sure on the backend customers have to like put on their documentation and they have, you know, different workflows that they can tie in what's kind of like the line to draw there versus like going full where you're managed customer support team as a service outsource versus.[00:33:40] Alessio: This is the Sierra platform that you can build on. What was that decision? I'll sort of[00:33:44] Bret: like decouple the question in some ways, which is when you have something that's an agent, who is the person using it and what do they want to do with it? So let's just take your coding agent for a second. I will talk about Sierra as well.[00:33:59] Bret: Who's the [00:34:00] customer of a, an agent that actually produces software? Is it a software engineering manager? Is it a software engineer? And it's there, you know, intern so to speak. I don't know. I mean, we'll figure this out over the next few years. Like what is that? And is it generating code that you then review?[00:34:16] Bret: Is it generating code with a set of unit tests that pass, what is the actual. For lack of a better word contract, like, how do you know that it did what you wanted it to do? And then I would say like the product and the pricing, the packaging model sort of emerged from that. And I don't think the world's figured out.[00:34:33] Bret: I think it'll be different for every agent. You know, in our customer base, we do what's called outcome based pricing. So essentially every time the AI agent. Solves the problem or saves a customer or whatever it might be. There's a pre negotiated rate for that. We do that. Cause it's, we think that that's sort of the correct way agents, you know, should be packaged.[00:34:53] Bret: I look back at the history of like cloud software and notably the introduction of the browser, which led to [00:35:00] software being delivered in a browser, like Salesforce to. Famously invented sort of software as a service, which is both a technical delivery model through the browser, but also a business model, which is you subscribe to it rather than pay for a perpetual license.[00:35:13] Bret: Those two things are somewhat orthogonal, but not really. If you think about the idea of software running in a browser, that's hosted. Data center that you don't own, you sort of needed to change the business model because you don't, you can't really buy a perpetual license or something otherwise like, how do you afford making changes to it?[00:35:31] Bret: So it only worked when you were buying like a new version every year or whatever. So to some degree, but then the business model shift actually changed business as we know it, because now like. Things like Adobe Photoshop. Now you subscribe to rather than purchase. So it ended up where you had a technical shift and a business model shift that were very logically intertwined that actually the business model shift was turned out to be as significant as the technical as the shift.[00:35:59] Bret: And I think with [00:36:00] agents, because they actually accomplish a job, I do think that it doesn't make sense to me that you'd pay for the privilege of like. Using the software like that coding agent, like if it writes really bad code, like fire it, you know, I don't know what the right metaphor is like you should pay for a job.[00:36:17] Bret: Well done in my opinion. I mean, that's how you pay your software engineers, right? And[00:36:20] swyx: and well, not really. We paid to put them on salary and give them options and they vest over time. That's fair.[00:36:26] Bret: But my point is that you don't pay them for how many characters they write, which is sort of the token based, you know, whatever, like, There's a, that famous Apple story where we're like asking for a report of how many lines of code you wrote.[00:36:40] Bret: And one of the engineers showed up with like a negative number cause he had just like done a big refactoring. There was like a big F you to management who didn't understand how software is written. You know, my sense is like the traditional usage based or seat based thing. It's just going to look really antiquated.[00:36:55] Bret: Cause it's like asking your software engineer, how many lines of code did you write today? Like who cares? Like, cause [00:37:00] absolutely no correlation. So my old view is I don't think it's be different in every category, but I do think that that is the, if an agent is doing a job, you should, I think it properly incentivizes the maker of that agent and the customer of, of your pain for the job well done.[00:37:16] Bret: It's not always perfect to measure. It's hard to measure engineering productivity, but you can, you should do something other than how many keys you typed, you know Talk about perverse incentives for AI, right? Like I can write really long functions to do the same thing, right? So broadly speaking, you know, I do think that we're going to see a change in business models of software towards outcomes.[00:37:36] Bret: And I think you'll see a change in delivery models too. And, and, you know, in our customer base you know, we empower our customers to really have their hands on the steering wheel of what the agent does they, they want and need that. But the role is different. You know, at a lot of our customers, the customer experience operations folks have renamed themselves the AI architects, which I think is really cool.[00:37:55] Bret: And, you know, it's like in the early days of the Internet, there's the role of the webmaster. [00:38:00] And I don't know whether your webmaster is not a fashionable, you know, Term, nor is it a job anymore? I just, I don't know. Will they, our tech stand the test of time? Maybe, maybe not. But I do think that again, I like, you know, because everyone listening right now is a software engineer.[00:38:14] Bret: Like what is the form factor of a coding agent? And actually I'll, I'll take a breath. Cause actually I have a bunch of pins on them. Like I wrote a blog post right before Christmas, just on the future of software development. And one of the things that's interesting is like, if you look at the way I use cursor today, as an example, it's inside of.[00:38:31] Bret: A repackaged visual studio code environment. I sometimes use the sort of agentic parts of it, but it's largely, you know, I've sort of gotten a good routine of making it auto complete code in the way I want through tuning it properly when it actually can write. I do wonder what like the future of development environments will look like.[00:38:55] Bret: And to your point on what is a software product, I think it's going to change a lot in [00:39:00] ways that will surprise us. But I always use, I use the metaphor in my blog post of, have you all driven around in a way, Mo around here? Yeah, everyone has. And there are these Jaguars, the really nice cars, but it's funny because it still has a steering wheel, even though there's no one sitting there and the steering wheels like turning and stuff clearly in the future.[00:39:16] Bret: If once we get to that, be more ubiquitous, like why have the steering wheel and also why have all the seats facing forward? Maybe just for car sickness. I don't know, but you could totally rearrange the car. I mean, so much of the car is oriented around the driver, so. It stands to reason to me that like, well, autonomous agents for software engineering run through visual studio code.[00:39:37] Bret: That seems a little bit silly because having a single source code file open one at a time is kind of a goofy form factor for when like the code isn't being written primarily by you, but it begs the question of what's your relationship with that agent. And I think the same is true in our industry of customer experience, which is like.[00:39:55] Bret: Who are the people managing this agent? What are the tools do they need? And they definitely need [00:40:00] tools, but it's probably pretty different than the tools we had before. It's certainly different than training a contact center team. And as software engineers, I think that I would like to see particularly like on the passion project side or research side.[00:40:14] Bret: More innovation in programming languages. I think that we're bringing the cost of writing code down to zero. So the fact that we're still writing Python with AI cracks me up just cause it's like literally was designed to be ergonomic to write, not safe to run or fast to run. I would love to see more innovation and how we verify program correctness.[00:40:37] Bret: I studied for formal verification in college a little bit and. It's not very fashionable because it's really like tedious and slow and doesn't work very well. If a lot of code is being written by a machine, you know, one of the primary values we can provide is verifying that it actually does what we intend that it does.[00:40:56] Bret: I think there should be lots of interesting things in the software development life cycle, like how [00:41:00] we think of testing and everything else, because. If you think about if we have to manually read every line of code that's coming out as machines, it will just rate limit how much the machines can do. The alternative is totally unsafe.[00:41:13] Bret: So I wouldn't want to put code in production that didn't go through proper code review and inspection. So my whole view is like, I actually think there's like an AI native I don't think the coding agents don't work well enough to do this yet, but once they do, what is sort of an AI native software development life cycle and how do you actually.[00:41:31] Bret: Enable the creators of software to produce the highest quality, most robust, fastest software and know that it's correct. And I think that's an incredible opportunity. I mean, how much C code can we rewrite and rust and make it safe so that there's fewer security vulnerabilities. Can we like have more efficient, safer code than ever before?[00:41:53] Bret: And can you have someone who's like that guy in the matrix, you know, like staring at the little green things, like where could you have an operator [00:42:00] of a code generating machine be like superhuman? I think that's a cool vision. And I think too many people are focused on like. Autocomplete, you know, right now, I'm not, I'm not even, I'm guilty as charged.[00:42:10] Bret: I guess in some ways, but I just like, I'd like to see some bolder ideas. And that's why when you were joking, you know, talking about what's the react of whatever, I think we're clearly in a local maximum, you know, metaphor, like sort of conceptual local maximum, obviously it's moving really fast. I think we're moving out of it.[00:42:26] Alessio: Yeah. At the end of 23, I've read this blog post from syntax to semantics. Like if you think about Python. It's taking C and making it more semantic and LLMs are like the ultimate semantic program, right? You can just talk to them and they can generate any type of syntax from your language. But again, the languages that they have to use were made for us, not for them.[00:42:46] Alessio: But the problem is like, as long as you will ever need a human to intervene, you cannot change the language under it. You know what I mean? So I'm curious at what point of automation we'll need to get, we're going to be okay making changes. To the underlying languages, [00:43:00] like the programming languages versus just saying, Hey, you just got to write Python because I understand Python and I'm more important at the end of the day than the model.[00:43:08] Alessio: But I think that will change, but I don't know if it's like two years or five years. I think it's more nuanced actually.[00:43:13] Bret: So I think there's a, some of the more interesting programming languages bring semantics into syntax. So let me, that's a little reductive, but like Rust as an example, Rust is memory safe.[00:43:25] Bret: Statically, and that was a really interesting conceptual, but it's why it's hard to write rust. It's why most people write python instead of rust. I think rust programs are safer and faster than python, probably slower to compile. But like broadly speaking, like given the option, if you didn't have to care about the labor that went into it.[00:43:45] Bret: You should prefer a program written in Rust over a program written in Python, just because it will run more efficiently. It's almost certainly safer, et cetera, et cetera, depending on how you define safe, but most people don't write Rust because it's kind of a pain in the ass. And [00:44:00] the audience of people who can is smaller, but it's sort of better in most, most ways.[00:44:05] Bret: And again, let's say you're making a web service and you didn't have to care about how hard it was to write. If you just got the output of the web service, the rest one would be cheaper to operate. It's certainly cheaper and probably more correct just because there's so much in the static analysis implied by the rest programming language that it probably will have fewer runtime errors and things like that as well.[00:44:25] Bret: So I just give that as an example, because so rust, at least my understanding that came out of the Mozilla team, because. There's lots of security vulnerabilities in the browser and it needs to be really fast. They said, okay, we want to put more of a burden at the authorship time to have fewer issues at runtime.[00:44:43] Bret: And we need the constraint that it has to be done statically because browsers need to be really fast. My sense is if you just think about like the, the needs of a programming language today, where the role of a software engineer is [00:45:00] to use an AI to generate functionality and audit that it does in fact work as intended, maybe functionally, maybe from like a correctness standpoint, some combination thereof, how would you create a programming system that facilitated that?[00:45:15] Bret: And, you know, I bring up Rust is because I think it's a good example of like, I think given a choice of writing in C or Rust, you should choose Rust today. I think most people would say that, even C aficionados, just because. C is largely less safe for very similar, you know, trade offs, you know, for the, the system and now with AI, it's like, okay, well, that just changes the game on writing these things.[00:45:36] Bret: And so like, I just wonder if a combination of programming languages that are more structurally oriented towards the values that we need from an AI generated program, verifiable correctness and all of that. If it's tedious to produce for a person, that maybe doesn't matter. But one thing, like if I asked you, is this rest program memory safe?[00:45:58] Bret: You wouldn't have to read it, you just have [00:46:00] to compile it. So that's interesting. I mean, that's like an, that's one example of a very modest form of formal verification. So I bring that up because I do think you have AI inspect AI, you can have AI reviewed. Do AI code reviews. It would disappoint me if the best we could get was AI reviewing Python and having scaled a few very large.[00:46:21] Bret: Websites that were written on Python. It's just like, you know, expensive and it's like every, trust me, every team who's written a big web service in Python has experimented with like Pi Pi and all these things just to make it slightly more efficient than it naturally is. You don't really have true multi threading anyway.[00:46:36] Bret: It's just like clearly that you do it just because it's convenient to write. And I just feel like we're, I don't want to say it's insane. I just mean. I do think we're at a local maximum. And I would hope that we create a programming system, a combination of programming languages, formal verification, testing, automated code reviews, where you can use AI to generate software in a high scale way and trust it.[00:46:59] Bret: And you're [00:47:00] not limited by your ability to read it necessarily. I don't know exactly what form that would take, but I feel like that would be a pretty cool world to live in.[00:47:08] Alessio: Yeah. We had Chris Lanner on the podcast. He's doing great work with modular. I mean, I love. LVM. Yeah. Basically merging rust in and Python.[00:47:15] Alessio: That's kind of the idea. Should be, but I'm curious is like, for them a big use case was like making it compatible with Python, same APIs so that Python developers could use it. Yeah. And so I, I wonder at what point, well, yeah.[00:47:26] Bret: At least my understanding is they're targeting the data science Yeah. Machine learning crowd, which is all written in Python, so still feels like a local maximum.[00:47:34] Bret: Yeah.[00:47:34] swyx: Yeah, exactly. I'll force you to make a prediction. You know, Python's roughly 30 years old. In 30 years from now, is Rust going to be bigger than Python?[00:47:42] Bret: I don't know this, but just, I don't even know this is a prediction. I just am sort of like saying stuff I hope is true. I would like to see an AI native programming language and programming system, and I use language because I'm not sure language is even the right thing, but I hope in 30 years, there's an AI native way we make [00:48:00] software that is wholly uncorrelated with the current set of programming languages.[00:48:04] Bret: or not uncorrelated, but I think most programming languages today were designed to be efficiently authored by people and some have different trade offs.[00:48:15] Evolution of Programming Languages[00:48:15] Bret: You know, you have Haskell and others that were designed for abstractions for parallelism and things like that. You have programming languages like Python, which are designed to be very easily written, sort of like Perl and Python lineage, which is why data scientists use it.[00:48:31] Bret: It's it can, it has a. Interactive mode, things like that. And I love, I'm a huge Python fan. So despite all my Python trash talk, a huge Python fan wrote at least two of my three companies were exclusively written in Python and then C came out of the birth of Unix and it wasn't the first, but certainly the most prominent first step after assembly language, right?[00:48:54] Bret: Where you had higher level abstractions rather than and going beyond go to, to like abstractions, [00:49:00] like the for loop and the while loop.[00:49:01] The Future of Software Engineering[00:49:01] Bret: So I just think that if the act of writing code is no longer a meaningful human exercise, maybe it will be, I don't know. I'm just saying it sort of feels like maybe it's one of those parts of history that just will sort of like go away, but there's still the role of this offer engineer, like the person actually building the system.[00:49:20] Bret: Right. And. What does a programming system for that form factor look like?[00:49:25] React and Front-End Development[00:49:25] Bret: And I, I just have a, I hope to be just like I mentioned, I remember I was at Facebook in the very early days when, when, what is now react was being created. And I remember when the, it was like released open source I had left by that time and I was just like, this is so f*****g cool.[00:49:42] Bret: Like, you know, to basically model your app independent of the data flowing through it, just made everything easier. And then now. You know, I can create, like there's a lot of the front end software gym play is like a little chaotic for me, to be honest with you. It is like, it's sort of like [00:50:00] abstraction soup right now for me, but like some of those core ideas felt really ergonomic.[00:50:04] Bret: I just wanna, I'm just looking forward to the day when someone comes up with a programming system that feels both really like an aha moment, but completely foreign to me at the same time. Because they created it with sort of like from first principles recognizing that like. Authoring code in an editor is maybe not like the primary like reason why a programming system exists anymore.[00:50:26] Bret: And I think that's like, that would be a very exciting day for me.[00:50:28] The Role of AI in Programming[00:50:28] swyx: Yeah, I would say like the various versions of this discussion have happened at the end of the day, you still need to precisely communicate what you want. As a manager of people, as someone who has done many, many legal contracts, you know how hard that is.[00:50:42] swyx: And then now we have to talk to machines doing that and AIs interpreting what we mean and reading our minds effectively. I don't know how to get across that barrier of translating human intent to instructions. And yes, it can be more declarative, but I don't know if it'll ever Crossover from being [00:51:00] a programming language to something more than that.[00:51:02] Bret: I agree with you. And I actually do think if you look at like a legal contract, you know, the imprecision of the English language, it's like a flaw in the system. How many[00:51:12] swyx: holes there are.[00:51:13] Bret: And I do think that when you're making a mission critical software system, I don't think it should be English language prompts.[00:51:19] Bret: I think that is silly because you want the precision of a a programming language. My point was less about that and more about if the actual act of authoring it, like if you.[00:51:32] Formal Verification in Software[00:51:32] Bret: I'll think of some embedded systems do use formal verification. I know it's very common in like security protocols now so that you can, because the importance of correctness is so great.[00:51:41] Bret: My intellectual exercise is like, why not do that for all software? I mean, probably that's silly just literally to do what we literally do for. These low level security protocols, but the only reason we don't is because it's hard and tedious and hard and tedious are no longer factors. So, like, if I could, I mean, [00:52:00] just think of, like, the silliest app on your phone right now, the idea that that app should be, like, formally verified for its correctness feels laughable right now because, like, God, why would you spend the time on it?[00:52:10] Bret: But if it's zero costs, like, yeah, I guess so. I mean, it never crashed. That's probably good. You know, why not? I just want to, like, set our bars really high. Like. We should make, software has been amazing. Like there's a Mark Andreessen blog post, software is eating the world. And you know, our whole life is, is mediated digitally.[00:52:26] Bret: And that's just increasing with AI. And now we'll have our personal agents talking to the agents on the CRO platform and it's agents all the way down, you know, our core infrastructure is running on these digital systems. We now have like, and we've had a shortage of software developers for my entire life.[00:52:45] Bret: And as a consequence, you know if you look, remember like health care, got healthcare. gov that fiasco security vulnerabilities leading to state actors getting access to critical infrastructure. I'm like. We now have like created this like amazing system that can [00:53:00] like, we can fix this, you know, and I, I just want to, I'm both excited about the productivity gains in the economy, but I just think as software engineers, we should be bolder.[00:53:08] Bret: Like we should have aspirations to fix these systems so that like in general, as you said, as precise as we want to be in the specification of the system. We can make it work correctly now, and I'm being a little bit hand wavy, and I think we need some systems. I think that's where we should set the bar, especially when so much of our life depends on this critical digital infrastructure.[00:53:28] Bret: So I'm I'm just like super optimistic about it. But actually, let's go to w

Villi Iltchev is the founder of Category Ventures, where he invests early in enterprise software startups. And he's done it longer than almost anyone, building Salesforce's corporate venture arm and investing early in companies like Airtable, Zapier, GitLab, Remote, Hubspot, Gusto, and Box. Fresh off raising his $160m Fund 1, we get into the opportunity he saw to start Category, and how San Francisco and Silicon Valley have changed over the past 30 years. He also shares his story growing up as an illegal immigrant in Greece, moving to the US by himself in high school, the biggest mistake of his career, advice for founders selling their company, why unit economics and profitability always matters, how developer tools went from terrible to amazing businesses, the mistake that almost killed GitLab after he invested, and why you should raise your seed round from a seed fund. Timestamps: (00:00) Intro (03:22) Illegally immigrating from Bulgaria to Greece (05:14) Moving to the US by himself in high school (13:15) Moving to SF in the Dot Com Bubble (15:49) How SF changed over the last 25 years (22:27) Why HP fell from the top of Silicon Valley (25:36) Building Salesforce's corporate VC arm (30:29) Why SaaS was so transformative (34:35) Angel investing in Airtable (39:52) The biggest mistake of his career (42:13) Why unit economics always matter (47:20) Biggest mistake when selling a tech company (49:00) Almost starting a software PE firm and landing in VC (55:45) Lessons from August Capital + Evolution of venture (59:22) Early days of dev tools + Investing in GitLab (1:09:50) Why being contrarian is dumb (1:11:45) How GitLab almost died and emerged stronger (1:16:48) Villi's journey to starting Category (1:25:22) Category's thesis (1:30:48) Why startups always come in batches (1:31:57) The importance of track record in venture (1:35:32) Deciding a $160m fund size (1:39:26) Why you should raise seed rounds from seed firms (1:43:40) What Villi looks for in a startup Referenced Category VC: https://www.categoryvc.com/ Category's $160m Fund 1: https://www.forbes.com/sites/alexkonrad/2024/12/17/villi-iltchev-raises-160-million-debut-fund-category/ Aaron Levie (Box) on The Peel: https://youtu.be/cLn_tqPvNf4 GitLab's Recovery Stream: https://www.youtube.com/watch?v=v0TRHLvYGE0 Guy Podjarny (Snyk) on The Peel: https://youtu.be/BzKlZ_v4uCw Why SaaS won't consolidate: https://medium.com/@villispeaks/why-saas-consolidation-is-not-happening-2b9b722e0250 Follow Villi Twitter: https://x.com/villi LinkedIn: https://www.linkedin.com/in/villi04/ Follow Turner Twitter: https://twitter.com/TurnerNovak LinkedIn: https://www.linkedin.com/in/turnernovak Subscribe to my newsletter to get every episode + the transcript in your inbox every week: https://www.thespl.it/

Part 1 of 2: My guest today is Jason C. Foster, CEO and Executive Director of Ori Biotech. Ori is revolutionizing Cell and Gene Therapy manufacturing through the development of its proprietary platform, IRO®. By automating and standardizing Cell and Gene Therapy manufacturing, Ori and IRO® offer scientists the tools they need to streamline development and support widespread patient access to life-saving treatments. Jason's experience prior to Ori includes more than 20 years of life science leadership in operations, sales, marketing, technology, and investing, during which he developed deep expertise in commercial strategy and a thorough understanding of healthcare markets across the UK, US, and EU.

In today's episode, Shawn O'Malley (@Shawn_OMalley_) goes through the best-selling book Zero to One by the prolific investor Peter Thiel, who's best known for co-founding PayPal and Palantir and for being the first outside investor in Facebook. Thiel is a highly contrarian thinker, and the book organizes his notes from his time at Stanford lecturing to the next generation of Silicon Valley's entrepreneurs. You'll learn Peter Thiel's favorite question to ask in interviews, the difference between horizontal and vertical progress, how the Tech Bubble changed Silicon Valley, why Peter Thiel actually likes monopolies, what investors get wrong about competition, how the Pareto Principle applies to the venture capital industry, plus so much more!  Prefer to watch? Click here to watch this episode on YouTube. IN THIS EPISODE, YOU'LL LEARN 00:00 - Intro 06:06 - What Peter Thiel's favorite interview question is 09:42 - What the difference is between horizontal and vertical progress 11:41 - Why Thiel thinks that technological progress has stagnated since the 1970s 17:43 - How Thiel took advantage of the Dot-Com Bubble to scale PayPal 19:57 - How the Dot-Com Bubble changed the culture of Silicon Valley and the goals of its founders 23:22 - Why Peter Thiel encourages funders to build a monopoly in specific niches 26:34 - How competition destroys profits 34:50 - Which types of monopolies are good for society  41:10 - What the Pareto Principle means for the venture capital industry And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Peter Thiel's book, Zero to One. Check out the Podcast review of Peter Thiel's Zero to One on We Study Billionaires | YouTube Video. Check out the Executive summary of Zero to One by Preston Pysh and Stig Brodersen. Clayton Christensen's book, The Innovator's Dilemma. Nassim Taleb's book, The Black Swan. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Toyota Public Bluehost Airbnb Fundrise NetSuite Connect with Shawn: Twitter | LinkedIn | Email HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!  Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Rebecca Walser still believes the U.S. stock market will see a 30% pullback, despite it being "really hard to be on that side." On top of concerns with the Yen carry trade and German manufacturing slowing down, she believes tariffs imposed by president-elect Donald Trump will hinder growth in the U.S. On the A.I. front, Rebecca makes comparisons to the Dot Com bubble burst. ======== Schwab Network ======== Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribe Download the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185 Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7 Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watch Watch on Vizio - https://www.vizio.com/en/watchfreeplus-explore Watch on DistroTV - https://www.distro.tv/live/schwab-network/ Follow us on X – https://twitter.com/schwabnetwork Follow us on Facebook – https://www.facebook.com/schwabnetwork Follow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Nirav Tolia is the co-founder and two-time CEO of Nextdoor. He started the company in 2011, stepped down as CEO in 2018, watched the company go public in 2021, and re-joined as CEO the summer of 2024. He also founded Epinions which IPO'd in 2004, and before that was an early employee at Yahoo. We go inside the decision to re-join the company after he thought he'd never come back, and how Nextdoor's trying to act like a startup while running a public company. He also takes us back to the very early days of Nextdoor, the deliberate product decisions that made growth hard but led to 100M+ neighbors on the platform, the lessons learned operating his first company through the Dot Com Bubble, and what it was like being a guest shark on Shark Tank. For full show notes, visit: https://highlightai.com/share/d7bcd655-9b2f-47f7-a6e3-fdf3e109c97e  Recommended Podcast:

Abe Ashton draws parallels between today's market and the dot-com bubble, emphasizing the importance of understanding market cycles and personal financial planning, especially for those nearing retirement.   As the founder of Ashton and Associates, Abe Ashton has more than 20 years of financial planning experience helping thousands of families in Utah, Nevada, and across the country retire with confidence. Abe's mission is to provide client-focused education and solutions to seniors and retirees, that help them achieve the retirement they've worked so hard for. To get more information on Ashton & Associates, or to schedule a consultation call, 435-688-9500 or visit AshtonWealth.comSee omnystudio.com/listener for privacy information.

Eugenie Reich is an attorney who defends scientific whistleblowers, and a former investigative science journalist. We talk about her previous work as a science journalist, in particular her book Plastic Fantastic about one of the biggest fraud cases in physics, the case of Jan-Hendrik Schön. We'd planned to also discuss Eugenie's current work as an attorney, but spent all our time on the Schön case. Eugenie kindly agreed to do another interview, in which we cover the legal aspects of fraud, which will be the next episode (#106).BJKS Podcast is a podcast about neuroscience, psychology, and anything vaguely related, hosted by Benjamin James Kuper-Smith.Support the show: https://geni.us/bjks-patreonTimestamps0:00:00: One of the biggest fraud cases in physics/all of science0:05:47: How and why Eugenie started writing about the Schön case0:09:26: Why did Schön commit fraud?0:19:30: Schön's PhD: he never saved any original data0:30:05: Bell Labs vs. Schön's PhD lab: long-term revolutions vs. short-term applications0:36:42: Schön's first work at Bell Labs was 'unpublishable'0:41:42: How to get away with fraud: pretend you collected data in another lab0:47:45: Bertram Batlogg and the role of the supervisors of fraudsters0:56:20: How the bursting of the Dot-Com Bubble and 9/11 may (indirectly) have exacerbated Schön's fraud1:01:09: How to use your colleagues' ideas to commit better fraud1:05:05: How Schön's fraud unraveled1:13:45: What is Schön doing now?1:18:11: A book or paper more people should read1:20:20: Something Eugenie wishes she'd learnt sooner1:22:58: Advice for PhD students/postdocsPodcast linksWebsite: https://geni.us/bjks-podTwitter: https://geni.us/bjks-pod-twtEugenie's linksWebsite: https://geni.us/reich-webTwitter: https://geni.us/reich-twtBen's linksWebsite: https://geni.us/bjks-webGoogle Scholar: https://geni.us/bjks-scholarTwitter: https://geni.us/bjks-twtReferences and linksEpisode with Simine Vazire: https://geni.us/bjks-vazireEpisode with Elisabeth Bik: https://geni.us/bjks-bikBell Labs (2002). The Schon report: https://media-bell-labs-com.s3.amazonaws.com/pages/20170403_1709/misconduct-revew-report-lucent.pdfReich (2009). Plastic fantastic: How the biggest fraud in physics shook the scientific world.Shapin & Schaffer (1985). Leviathan and the air-pump: Hobbes, Boyle, and the experimental life.

Jeff Grant, a former lawyer who served time in federal prison, shares his unique journey from a successful legal career to incarceration and back. In this episode, Jeff opens up about the circumstances that led to his conviction, what life was like inside federal prison, and the challenges he faced while fighting to restore his law license. Jeff's story sheds light on the realities of the legal system, the impact of incarceration, and the power of second chances. #FederalPrison #LawyerLife #PrisonReform #IncarcerationStory #LawLicense #SecondChances #LegalSystem #TrueCrime Thank you to our sponsors this week: MAGIC MIND: They have a limited offer you can use now, that gets you up to 48% off your first subscription or 20% off one time purchases with code LOCKED20 at checkout. You can claim it at: https://www.magicmind.com/locked Hosted, Executive Produced & Edited By Ian Bick: https://www.instagram.com/ian_bick/?hl=en https://ianbick.com/ Connect with Jeff grant: https://grantlaw.com/ https://www.linkedin.com/in/revjeffgrant FB: https://facebook.com/grantlawpllc IG: https://instagram.com/grantlawpllc Twitter: @grantlawpllc Progressive Prison Ministries website: https://prisonist.org Presented by Tyson 2.0 & Wooooo Energy: https://tyson20.com/ https://woooooenergy.com/ Buy Merch: https://lockedinbrand.com Use code lockedin at checkout to get 20% off your order Timestamps: 00:00:00 Introduction and Background of Jeff 00:07:00 Overcoming Academic Probation 00:14:04 The Shift in Lawyer-Client Dynamics 00:21:32 Redemption Stories Beyond Prison 00:28:26 Emotional Impact of a Vulnerable Talk 00:35:47 The Challenges of Sharing Prison Experiences 00:43:28 The Burst of the Dot-Com Bubble and Personal Downfall 00:51:19 Understanding Escrow: Checks and Balances 00:58:12 Unraveling Financial Troubles and Federal Investigation 01:05:52 Staying Sober in Prison 01:12:48 Navigating Prison Life: Trust and Legal Assistance 01:19:57 Navigating Prison Life and Unwritten Rules 01:27:10 Journey to Sobriety and Volunteering 01:34:04 Deciding to Return to Law 01:41:32 Rise to New Opportunities After The New Yorker Feature 01:49:10 Essential Financial Lessons for Entrepreneurs 01:56:50 Conclusion of a Wonderful Interview with Ian Powered by: Just Media House : https://www.justmediahouse.com/ Creative direction, design, assets, support by FWRD: https://www.fwrd.co Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, President Gabriel Shahin, CFP® explores the complex relationship between politics and market performance, revealing why presidential terms shouldn't dictate investment decisions. Drawing on historical data from 1929 to today, Gabriel discusses key periods like the Great Depression and Dot-Com Bubble, offering insight into market returns under various presidents. Listeners will gain valuable tips on how to capitalize on market downturns, why global diversification is essential, and the importance of working with a financial planner to ensure long-term success, regardless of political shifts. Tune in for practical strategies to strengthen your portfolio during unpredictable times Schedule a free assessment: https://www.falconwealthplanning.com/... Follow our socials: https://linktr.ee/falconwealthplanning

In today's episode for 9th August 2024, we tell you how the AI hype may be different from the dot com bubble. Speak to Ditto's advisors now, by clicking the link here - https://ditto.sh/9zoz41

Click here to register for my FREE Masterclass: https://autc.pro/TSSeng-pod?utm_source=spreaker&utm_medium=poden&utm_content=419&sl=spreaker-poden-419

In this episode, Robert delves into a little-known hedge fund manager named Dr. John Hussman and how he successfully predicted the peak of the Dot Com Bubble in 2000. Robert also discusses if it's wise to invest in PayPal (PYPL) along with how the market may react to the attempted assassination of former president Donald Trump.

This week, we explore the reasons behind the slowdown in DevOps adoption, compare open-source and proprietary foundation models, and discuss how AI might simplify CI/CD implementation. Additionally, Matt takes on an Australian history quiz. Watch the YouTube Live Recording of Episode (https://www.youtube.com/watch?v=5xmarzk5aw8) 474 (https://www.youtube.com/watch?v=5xmarzk5aw8) Runner-up Titles No silver bullets If you aspire for nothing, you're done. We can hang out with the boulder at the bottom Who owns the black box You have to want to put in the effort Anyone on the bleeding edge is going to bleed Rundown A Eulogy for DevOps (https://matduggan.com/a-eulogy-for-devops/) DevOps Isn't Dead, but It's Not in Great Health Either (https://thenewstack.io/devops-isnt-dead-but-its-not-in-great-health-either/) The InfraRed Report from Redpoint (https://www.redpoint.com/infrared/report/) Dan Davies Explains Why Accountability Sinks Are Everywhere Now (https://www.bloomberg.com/news/articles/2024-07-01/dan-davies-explains-why-accountability-sinks-are-everywhere-now) Relevant to your Interests Indonesia won't pay an $8 million ransom after a cyberattack compromised its national data center (https://apnews.com/article/indonesia-ransomware-attack-national-data-center-213c14c6cc69d7b66815e58478f64cee) Odaseva raises $54M to secure Salesforce users (https://techcrunch.com/2024/06/27/odasevas-founder-once-solved-a-security-gap-for-saleforces-biggest-customer-now-hes-raised-54m-to-secure-all-of-its-users/) More YouTube Premium plans are coming (https://www.theverge.com/2024/6/27/24187590/youtube-premium-subscription-more-plans) Alibaba Cloud closing Australian and Indian datacenters (https://www.theregister.com/2024/07/01/alibaba_cloud_closes_india_australia/) Apple Poised to Get OpenAI Board Observer Role as Part of AI Pact (https://www.bloomberg.com/news/articles/2024-07-02/apple-to-get-openai-board-observer-role-as-part-of-ai-agreement) How Big Tech is swallowing the AI industry (https://www.theverge.com/2024/7/1/24190060/amazon-adept-ai-acquisition-playbook-microsoft-inflection) Apple Poised to Get OpenAI Board Observer Role as Part of AI Pact (https://www.bloomberg.com/news/articles/2024-07-02/apple-to-get-openai-board-observer-role-as-part-of-ai-agreement) Infrastructure as Code Landscape Overview 2024 (https://medium.com/@bgrant0607/infrastructure-as-code-landscape-overview-2024-a066124e5989) Infrastructure as Code reminds me of “make run-all” (https://medium.com/@bgrant0607/infrastructure-as-code-reminds-me-of-make-run-all-15eb6628f306) Is NVIDIA like Sun from the Dot Com Bubble? / Oxide (https://oxide.computer/podcasts/oxide-and-friends/1973013) “Everything's frozen”: Ransomware locks credit union users out of bank accounts (https://arstechnica.com/tech-policy/2024/07/everythings-frozen-ransomware-locks-credit-union-users-out-of-bank-accounts/) Exclusive-Vista Equity in talks to hand over Pluralsight to creditors, sources s (https://finance.yahoo.com/news/exclusive-vista-equity-talks-hand-183356419.html) Nonsense Faces made of living skin make robots smile (https://www.bbc.com/news/articles/cedd3208veyo) Mandatory Texas vehicle safety inspections end in six months (https://www.kxan.com/news/texas/mandatory-texas-vehicle-safety-inspections-end-in-six-months/) Costco's bold new plan for the California housing crisis (https://www.sfgate.com/la/article/costco-housing-apartments-south-la-19541521.php?utm_source=substack&utm_medium=email) Conferences DevOpsDays Birmingham (https://devopsdays.org/events/2024-birmingham-al/welcome/), August 19–21, 2024 DevOpsDays Antwerp (https://devopsdays.org/events/2024-antwerp/welcome/), 15th anniversary, Sep 4th-5th. SpringOne (https://springone.io/?utm_source=cote&utm_campaign=devrel&utm_medium=newsletter&utm_content=newsletterUpcoming)/VMware Explore US (https://blogs.vmware.com/explore/2024/04/23/want-to-attend-vmware-explore-convince-your-manager-with-these/?utm_source=cote&utm_campaign=devrel&utm_medium=newsletter&utm_content=newsletterUpcoming), August 26–29, 2024 SREday London 2024 (https://sreday.com/2024-london/), September 19th to 20th, Coté speaking. 20% off with the code SRE20DAY (https://sreday.com/2024-london/#tickets) SDT news & hype Join us in Slack (http://www.softwaredefinedtalk.com/slack). Get a SDT Sticker! Send your postal address to stickers@softwaredefinedtalk.com (mailto:stickers@softwaredefinedtalk.com) and we will send you free laptop stickers! Follow us: Twitch (https://www.twitch.tv/sdtpodcast), Twitter (https://twitter.com/softwaredeftalk), Instagram (https://www.instagram.com/softwaredefinedtalk/), Mastodon (https://hachyderm.io/@softwaredefinedtalk), BlueSky (https://bsky.app/profile/softwaredefinedtalk.com), LinkedIn (https://www.linkedin.com/company/software-defined-talk/), TikTok (https://www.tiktok.com/@softwaredefinedtalk), Threads (https://www.threads.net/@softwaredefinedtalk) and YouTube (https://www.youtube.com/channel/UCi3OJPV6h9tp-hbsGBLGsDQ/featured). Use the code SDT to get $20 off Coté's book, Digital WTF (https://leanpub.com/digitalwtf/c/sdt), so $5 total. Become a sponsor of Software Defined Talk (https://www.softwaredefinedtalk.com/ads)! Recommendations Brandon: House of Dragons Season 2 (https://www.hbo.com/house-of-the-dragon) Cloud News of the Month - June 2024 (https://www.thecloudcast.net/2024/07/cloud-news-of-month-june-2024.html) Photo Credits Header (https://unsplash.com/photos/brown-sail-ship-on-sea-during-sunset-1suNZRcP3AY) Artwork (https://miro.medium.com/v2/resize:fit:640/format:webp/1*rQh4nSRu3CV3vqThSKI49A.jpeg)

Every so often we like to give our Oxide and Friends hot takes (or as Adam puts it "Bryan getting trolled on Twitter"). This time, a viral tweet suggests that NVIDIA is on the same trajectory as Sun Microsystems on its ascent during the Dot Com Bubble. From two alumni of Sun's rise and fall: maaaaybe not.In addition to Bryan Cantrill and Adam Leventhal, speakers included Todd Gamblin.Some of the topics we hit on, in the order that we hit them:The Tweet!OxF: Innovation Stagnation? -- wherein we forgot to read the tweetFramework laptop RISC-V mainboardTadpole SPARCbookOxF: A Requiem for SPARC with Tom Lyon -- we're RISC dead-endersAcquired on NVIDIA: part I, part II, part III, JensenRIVA 128OxF: Steve Jobs & the Next Big ThingIf we got something wrong or missed something, please file a PR! Our next show will likely be on Monday at 5p Pacific Time on our Discord server; stay tuned to our Mastodon feeds for details, or subscribe to this calendar. We'd love to have you join us, as we always love to hear from new speakers!

Nancy Tengler is CEO and CIO of Laffer Tengler Investments. In this MoneyShow MoneyMasters Podcastepisode, we cover her market outlook, favorite sectors, thoughts on market concentration, and what you have to do as an investor “when the Hedgies go to the Hamptons!” The conversation starts with a discussion of her big-picture themes, including why she still likes the technology sector and companies that are profiting from the “Fourth Industrial Revolution.” She believes the AI boom is NOT like the Dot-Com Bubble, citing several reasons, including how AI tech is revolutionizing operations and boosting productivity at companies like Walmart Inc. and American Express Co.We then pivot to an enlightening discussion about market concentration. She explains why the U.S. benchmarks are actually LESS worrisome than those in Germany, France, or the U.K. – and names ONE reason why small caps should perk up soon anyway. Next, she explains why “It's a loser's game” to spend too much time worrying about the Federal Reserve – and why several leading tech names have actually BENEFITTED from higher rates. Then we cover two stocks she is shying away from, two stocks she really likes instead, and why one name she's owned for 13 years exemplifies a core principle of hers: “When we find a company we love, we hang on to it.”Finally, Nancy shares a sneak peek at what she'll cover at the MoneyShow Masters Symposium Las Vegas, set for Aug. 1-3, 2024 at the Paris Las Vegas. Click here to register

Mary Ellen McGonagle is Senior Managing Director of Equities at Simpler Trading, Editor of the MEM Edge Report, and an educator for StockChartsTV on YouTube. In this MoneyShow MoneyMasters Podcast episode, we cover the outlook for the stock market, standout sectors like technology, and why the AI boom is NOT like the Dot-Com Bubble all over again.We start by chatting about Mary Ellen's background covering stocks and fixed income markets for firms like Goldman Sachs and William O'Neil + Company, plus her more recent work for Simpler Trading and the MEM Edge Report. Her aim today? Helping investors with “uncovering these big, winning stocks just as they take off.” We then talk about some of her favorite names, sectors, and the forces driving them, including three top stocks in the semiconductor and communication services sectors. The conversation next pivots the Federal Reserve and the 10-year Treasury yield...investor sentiment...and the two key technical indicators she watches to determine the health of the markets and uptrends in specific stocks.Finally, Mary Ellen spells out the reasons the AI bull market differs from the late 1990s/early 2000s tech stock boom and bust. And she shares a sneak peek at what she'll cover at the MoneyShow Masters Symposium Las Vegas, set for Aug. 1-3, 2024 at the Paris Las Vegas. Click here to register: https://lasvegasmms.com/?scode=061246

Send us a Text Message.The brief time when Boston had it's own music television station. The financial catastrophe of the bursting of the dot-com bubble. The highest-rated television show episodes ever.Episode 149 of the podcast turns up the heat with nostalgia as summer kicks off.As MTV was conquering cable television in the early 1980s a Boston-based radio personality thought it would be a good idea to create a local music television station for young people that did not have cable access. The year was 1985. The station was V66. We kick off the show by looking back at this brief but fondly remembered channel.For a short while it felt like everything in the dot-com world was golden. Sadly that was not the case and as the 21st century began the bubble burst and the landscape of internet business changed forever. We go way Back In the Day to when the Dot-Com Bubble Burst and the effects it had.This week's Top 5 is actually a Top 10. We'll list the highest-rated television show episodes ever, with a few caveats of course. Did you watch any of these shows? Of course there will be a new This Week In History and Time Capsule centered around the first baseball game ever played.For more great content become a subscriber on Patreon!Helpful Links from this EpisodeThe Lady of the Dunes.comPurchase My New Book Cape Cod Beyond the Beach!In My Footsteps: A Cape Cod Travel Guide(2nd Edition)Hooked By Kiwi - Etsy.comWear Your Wish.com - Clothing, Accessories, and moreDJ Williams MusicKeeKee's Cape Cod KitchenChristopher Setterlund.comCape Cod Living - Zazzle StoreSubscribe on YouTube!Initial Impressions 2.0 BlogShelter of the Monument Book - Yvonne DeSousa.comLife On The V: The Story of V66Listen to Episode 148 here Support the Show.

► Invest in top-performing AI stocks - Install our FREE app: https://optothemes.onelink.me/BZDG/ti2lb2fdToday, we have the pleasure of speaking with Que Nguyen, Chief Investment Officer at Research Affiliates. Que explores the lifecycle of generative AI, drawing parallels to the early Internet boom and discussing its current stage of development. She also discusses the evolving investment landscape for GenAI, highlighting key indicators and lessons from past tech cycles, before sharing her insights on the potential winners and losers in the GenAI space. Enjoy!Read Que's article here: https://www.researchaffiliates.com/publications/articles/1030-embrace-genai-mania--------The content in this podcast is for informational purposes only. Opto Markets LLC does not recommend any specific securities or investment strategies. Investing involves risk & investments may lose value, including the loss of principal. Past performance does not guarantee future results. Investors should consider their investment objectives and risks carefully before investing. The information provided is not an endorsement of this product and is for information and/or educational purposes only.

This week's blogpost - https://bahnsen.co/3QF5Zum The decade from 2000-2009 included both the Dot-Com Bubble and the Global Financial Crisis (GFC).  We call this the Lost Decade because it was a rare occurrence where stock investors experienced a negative return over a 10-year period. This decade will live in infamy and will be the talk of countless financial books, newsletters, blogs, and white papers.   Today, I would like to unpack what I call the New Lost Decade, which we live in now.  This topic doesn't seem to be catching as much attention, but I will point out why this is so important to you as an investor.  This has nothing to do with the stock market and everything to do with the bond market.   I hope you can join me today to discuss the New Lost Decade.     Links mentioned in this episode: http://thoughtsonmoney.com http://thebahnsengroup.com

- Video on BitChute: https://www.bitchute.com/video/kMamlPd0yJik/ - Video on Rumble: https://rumble.com/v4qhtai-happy-420-asmr-saturday-april-20-300-pm-530-pm-pdt.html - Video on Odysee: https://odysee.com/@chycho:6/Happy420_2024_chycho:5 - Video on CensorTube: https://youtube.com/live/swLjpSjfiTs ▶️ Guilded Server: https://www.guilded.gg/chycho PLAYLISTS: Podcasts: https://soundcloud.com/chycho/sets/chycho ARTICLE: Happy 420! (Almost everything you wanted to know about Cannabis) http://chycho.blogspot.com/2013/04/happy-420.html VIDEOS: Previous Year's 420 Celebration Live Streams at: - 2023: https://www.patreon.com/posts/happy-420-live-82198614 - 2022: https://www.patreon.com/posts/happy-420-2022-65953275 - 2021: https://www.patreon.com/posts/happy-420-live-50729778 - 2020: https://www.patreon.com/posts/youtube-premiere-36424642 - 2019: https://www.bitchute.com/video/lm8FsvOVTf5a/ PLAYLIST: Happy 420 Live Streams (MISSING 2019, see description for link to video on BitChute) https://www.youtube.com/playlist?list=PL9sfzC9bUPxkB5NapnJ2V_PkofEMe40Ij ***SUPPORT*** ▶️ Patreon: https://www.patreon.com/chycho ▶️ Substack: https://chycho.substack.com/ ▶️ Paypal: https://www.paypal.me/chycho ▶️ Buy Me a Coffee: https://www.buymeacoffee.com/chycho ▶️ SubscribeStar: https://www.subscribestar.com/chycho ▶️ ...and crypto, see below. APPROXIMATE SELECT TIMESTAMPS: - Happy 420 Snacks #1 (11:04-14:10) - My Preferred Vaping Device: Arizer Solo I & II (15:11-19:53) - DJ Painting Vaping Session Discussion #1: Happy 420, 2024 (20:01-27:52) - I Never Thought I Would Stick to Vaping the Sex Organs of the Cannabis Plant: Joints Are Dirty (30:03-30:55) - The Dirtiest Joints Are Roach Joints From the Ashtray (32:28-34:04) - How To Turn People Into Pot Heads, Explain to Them the Pleasures of Smoking the Sex Organs of a Plant (38:10-38:54) - Vaping Session #2: Old-school Vape, Arizer Solo I (38:55-39:58) - Edibles - DJ Painting Vaping Session Discussion #2: Happy 420, 2024 (41:34-51:50) - How To Control the Cannabis Munchies (56:04-57:22) - How To Satisfy the Cannabis Munchies (1:04:14-1:06:12) - Why Canada Fell: Math Illiteracy, Americanization of the Education System, Breeding Low IQ Red Rats (1:07:20-1:10:36) - Math - Centralized Power Has Collapsed the Economy To Be Able To Centralize More Power: 2000 Dot-Com Bubble an Example (1:15:26-1:17:24) - Hard Love Trying To Explain to Kids Why They Need Education (1:17:28-1:18:32) - Fractions and Gambling and Maximizing Your Odds on the Craps Table - Cards and Poker - Stopping WEF BS - The Global Majority Is Distancing Itself From the Genocidal Western World: Pending Collapse (1:27:09-1:28:50) - Happy 420 Snacks #2 (1:29:04-1:32:04) - Kitty Cat, Veeya (1:33:04-1:33:42) - DJ Painting Vaping Session Discussion #3: Happy 420, 2024 (1:35:31-1:45:52) - Experiencing Transitional Periods: Weather Fronts, Changing Times, Pending Collapses, Opportunities Plentiful, Lots of Pain (1:42:09-1:45:12) - Live Your Life As You Please, As Long as Your Beliefs Don't Interfere With My Rights To Live As I Please (1:46:20-1:47:09) - The Way We Prevent Tyranny Is by Decentralizing Our Societies (1:47:46-1:50:22) - Some Random Discussion - U2's Bono Is the Equivalent of All of Ireland Taking a Diarrhea Dump (2:03:01-2:04:06) - DJ Painting Vaping Session Discussion #4: Happy 420, 2024 (2:07:26-2:15:44) - DJ Painting Vaping Session Discussion #5: Happy 420, 2024 (2:21:09-2:26:25) - Fallout TV Series, Thumbs-Up With a Smile: 9.5 out of 10 (2:28:09-2:36:37) ***CRYPTO*** ▶️ As well as Cryptocurrencies: Bitcoin (BTC): 1Peam3sbV9EGAHr8mwUvrxrX8kToDz7eTE Ethereum (ETH): 0xCEC12Da3D582166afa8055137831404Ea7753FFd Doge (DOGE): D83vU3XP1SLogT5eC7tNNNVzw4fiRMFhog Peace. chycho http://www.chycho.com

In this episode, I was lucky enough to interview Adam Trachtman, Director and Owner of Lucid Circus. Adam's upbringing in Haverford, Pennsylvania, and his formative years at a creative and performing arts high school in Philadelphia laid the groundwork for his journey. With a blend of analytical precision inherited from his mother and a risk-taking spirit from his father, Adam embarked on a bold move to the Czech Republic at just 19 years old, driven by a desire to immerse himself in Europe's cultural tapestry. Upon landing in Prague, Adam's entrepreneurial instincts kicked in as he cofounded Lucid Circus with Ezra Cohen, their parallel paths converging from Philadelphia to Prague. Amid the dot-com bubble burst, they smartly combined their firms, blending design and development talents to overcome hurdles. This synergy enabled them to secure clients like AOL and MTV, setting the stage for Lucid Circus's ascent in the digital realm. Beyond the boardroom, Adam's creative vision finds expression in his graphic novel, "Immersion," a labor of love blending artistry with cutting-edge technology. Leveraging neural style transfer, Adam transforms his experiences into a visually captivating narrative, bridging languages and cultures. With "Immersion" gaining traction internationally, Adam's journey epitomizes the entrepreneurial spirit intertwined with a passion for innovation and storytelling.Step into the vibrant streets of Prague and Join us as we explore the intersection of art and technology with  Adam Trachtman on The First Customer!Guest Info:LucidCircushttp://lucidcircus.comAdam Trachtman's LinkedInhttps://www.linkedin.com/in/adam10/Connect with Jay on LinkedInhttps://www.linkedin.com/in/jayaigner/The First Customer Youtube Channelhttps://www.youtube.com/@thefirstcustomerpodcastThe First Customer podcast websitehttps://www.firstcustomerpodcast.comFollow The First Customer on LinkedInhttp://www.linkedin.com/company/the-first-customer-podcast/

In the 1990s, companies that hoped to change the world using newfangled computer technology took off. Wall Street invested in some of them big time, and their stock market valuations ballooned before they showed evidence of delivering on their promises. Sound familiar? In this episode, a cautionary tale for the era of AI. Plus, film jobs leave L.A. and New York, Netflix doubles down on video game investments and small businesses’ pricing power is kinda lumpy.

In the 1990s, companies that hoped to change the world using newfangled computer technology took off. Wall Street invested in some of them big time, and their stock market valuations ballooned before they showed evidence of delivering on their promises. Sound familiar? In this episode, a cautionary tale for the era of AI. Plus, film jobs leave L.A. and New York, Netflix doubles down on video game investments and small businesses’ pricing power is kinda lumpy.

In this episode of People-Powered Tech, we paint your roadmap to navigating the exciting possibilities and real-world applications of artificial intelligence in business. From quirky gadgets to life-saving healthcare, we underscore the importance of data-driven custom experiences and the plethora of platform-building choices. You'll get an insider's perspective on AI integration's strategic, problem-solving nature, where investment meets return, and how community collaboration can amplify that value. Stay tuned for a journey through the iterative path of AI experimentation, the crucial human element within technological advancement, and a playful lightning round that humanizes the bits and bytes of our digital world.

On this week's episode, Markets Update: Stocks cool due to Fed speak but bonds soar Empowering Education: AI Bubble vs The Dot Com Bubble Faithful Finance: What the Bible says about AI

World developments frequently impact financial markets and test the resolve of investors. The fear, panic, and uncertainty these events cause are exactly what creates the concept of a “risk premium.”The evidence is also very clear. Those who weather the storm have been rewarded over the long run. Consider the COVID outbreak, the Great Recession, and the Dot Com Bubble. These were all significant periods where markets moved, but the investors who didn't panic and stayed in the market were rewarded for their perseverance.Investing is not always going to be a smooth and comfortable ride, but the destination is worth it.Have questions for an upcoming episode? Want to get free resources, book giveaways, and AWM gear? Want to hear about when we release new episodes? Text “insights” or the lightbulb emoji (

James Killick worked at Apple from 2013 to 2022 on the Maps team and has worked in mapping for the past 40 years. I've been wondering why Apple has gotten so much into Maps; Google makes sense to me, they're just the same ad business as search, but on a map. So, why -and how- did Apple get into Map?Sponsor: FeltTry out collaborative online mapping with FeltCheck out their Youtube Channel for walkthroughs of their latest featuresAbout JamesLinkedInTwitterShownotesNote: Links to books are Amazon Affiliate links. I earn a small commission if you buy any of these books.Map HappeningsTim Cook apologises for Apple Maps (2012)The Underlying Angst of Google Maps and Apple MapsBook & podcast recommendations:Build by Tony Fadell (Affiliate Link)Daring FireballDitheringLex FridmanTimestamps(00:00) - Introduction(01:15) - Sponsor: Felt(02:20) - James Describes Himself(04:37) - Car navigation in 1985(12:25) - Etak's customers(14:33) - Analog Maps(22:22) - From Analog to Digital(29:07) - MapQuest's business model: Ads on a map(32:36) - MapQuest after the Dot Com Bubble(41:28) - The Origins of Apple Maps(45:04) - Shortcomings with Google's data(46:29) - Apple wanting full control of their own maps(47:36) - Justifying the costs of owning everything(51:11) - A Rocky Apple Maps launch(54:24) - James's role joining Apple in 2013(59:45) - Indoor mapping(01:02:29) - Crafted vs automated approaches(01:06:38) - The OpenStreetMap approach(01:10:56) - Contribution vs Curation(01:15:09) - So why does Apple have Apple Maps?(01:19:25) - Would Apple move towards more advertising?(01:27:41) - Anti-consumerism in Apple's products(01:29:39) - Shortcomings of Google's model(01:31:51) - Apple Maps reviews(01:34:51) - Incentivizing contributions(01:41:08) - Michelin Stars comparison(01:46:36) - Apple's Spatial computing(01:52:11) - Books/podcasts(01:57:19) - James' blog: Map Happenings- Support the podcast on Patreon- Website- My Twitter- Podcast Twitter- Read Previous Issues of the Newsletter- Edited by Peter Xiong. Find more of his work

Vincent Mortier, Chief Investment Officer of Amundi, Europe's largest asset manager and one of the world's top 10, joined the podcast to survey inflation expectations and where the global economy is headed from here. He shared the questions investors are asking, where he sees valuations going, and finding creativity in the investment process. He also touched on the rise of AI and whether the “AI rally” bears comparisons to the “Dot Com Bubble.” He wrapped up with a discussion on growth projections in Asia and how having ESG-related investment objectives are important to the climate transition. Inside the ICE House: https://www.theice.com/insights/conversations/inside-the-ice-house

Pete McCarthy is an experienced tech entrepreneur with a wealth of knowledge in various industries. In this conversation we explored the evolution of the internet, his experiences during the dot-com bubble, and his insights into agile and waterfall methodologies, crypto, bitcoin, and Earthships. EPISODE LINKS: Pete's LinkedIn: https://www.linkedin.com/in/pedromccarthy/ Fucked Company: https://en.wikipedia.org/wiki/Fucked_Company TIMESTAMPS: (00:00:59) Intro and Background (00:03:31) The internet in 1995 (00:04:30) Seeing the internet for the first time (00:05:56) Making a huge shift from entrepreneurship (00:08:42) The decision behind shifting to different industries (00:10:01) Going different paths and learning (00:10:19) Enjoying travel, then deciding to settle down (00:12:03) Why move to San Francisco? (00:13:27) Learning the business while working with OpenTable (00:14:05) The learning process as a beginner (00:15:31) Silicon Valley in 1999/2000 (00:16:37) The dot-com bubble (00:17:08) The beginning of the dot-com crash (00:18:04) OpenTable surviving the crash (00:18:25) Beginning a career as a tech (00:19:19) Dot-com bubble burst aftermath (00:19:44) Fucked Company, the pastime for most startup company employees (00:20:39) The silver lining and resurgence of startup companies (00:22:15) The beginning of solving problems - product building (00:24:16) Opening up bigger opportunities (00:25:59) Gaining experience: Working for companies before launching his own tech venture (00:28:14) Opportunities and innovation with the release of the iPhone (00:28:57) Experiencing big shifts in technology: Cloud and mobile (00:30:19) Foreseeing Google and Apple taking over (00:30:49) Agile iterative approach, ship fast: Ruby Rails, 37 signals (00:32:20) Being comfortable with the uncomfortable: The Contrarian way of thinking (00:34:20) Fundamentals of product management, Factors builds a great process: Great product people and design (00:35:21) Enterprise software (00:36:06) Waterfall project (00:36:54) Agile methodology as the better approach (00:38:23) A big aspect of product management: Identifying and reducing irrelevant data effectively (00:40:16) Don't be committed to one answer (00:40:28) Direct user feedback for making changes (00:40:44) The difficulty of getting into true agile methodology (00:41:29) Sprint planning (00:42:22) Intentionally saying "no" to achieve better outcome (00:43:02) Shipping makes it easier to figure out what to do next (00:43:42) Living the corporate America life, working remotely (00:45:50) Resilience: Rising better after a fall (00:47:29) Starting CheckWise (00:48:51) Offering a solution (00:49:34) Learning how to code (00:50:24) The transition from product management to the technical side of things (00:52:49) Trying to pursue a coding career, going back to product (00:53:52) Working with a development team in Italy, festivals (00:54:26) Letting go of the coding dream, and enjoying building operational software (00:56:26) Electric forest and the Blissfest (00:58:40) Van trip (00:59:10) Earthships (01:02:53) Emergence of Bitcoin (01:07:13) Crypto, Blockchain (01:09:52) Part 2: Xero knowledge proofs, DAOs, AI and where this goes from a long-term perspective (01:10:15) Closing CONNECT: Website: https://hoo.be/elijahmurray YouTube: https://www.youtube.com/@elijahmurray Twitter: https://twitter.com/elijahmurray Instagram: https://www.instagram.com/elijahmurray LinkedIn: https://www.linkedin.com/in/elijahmurray/ Apple Podcasts: https://podcasts.apple.com/us/podcast/the-long-game-w-elijahmurray/ Spotify: https://podcasters.spotify.com/pod/show/elijahmurray RSS: https://anchor.fm/s/3e31c0c/podcast/rss --- Send in a voice message: https://podcasters.spotify.com/pod/show/elijahmurray/message

In this episode of the Retirement Lifestyle Show, Roshan Loungani and Adrian Nicholson break down AI and the banking sector's impact on the economy. They cover topics like the AI boom versus the Dot Com bubble burst, job displacements caused by AI, and the type of banking stocks you should consider investing in.  [00:00] Introduction [01:30] Is AI Worth All the Hype? [05:11] AI Burst Versus the Dot Com Bubble [07:20] AI's Impact on the Economy [11:55] What are Moving Averages? [13:50] Job Displacements and Opportunities with AI [15:40] Bubbles, Markets, and Banking Stocks [20:55] Investing in the Right Banking Opportunities [25:13] Book Value per Share for Banks: Is It a Good Measure? [28:39] When to Double Down Your Research on a Bank [32:15] Parting Thoughts   Roshan can be reached at roshan.loungani@aretewealth.com or at 202-536-4468.  Erik can be reached at erik.olson@aretewealth.com or 815-940-4652. Adrian can be reached at adrian.nicholson@aretewealth.com or at 703-915-8905. Follow Us At: Website: https://retirementlifestyleshow.com/ https://www.retirewithroshan.com https://youtu.be/hKVzI87v0tA https://twitter.com/RoshanLoungani https://www.linkedin.com/in/roshanloungani/ https://www.facebook.com/retirewithroshan/ https://www.linkedin.com/in/financialerik/ https://www.linkedin.com/in/adrian-nicholson-74b82b13b/ #retirementlifestylepodcast #fire #podcast #FI #Retire #retirewithroshan #retirement #investing All opinions expressed by podcast hosts and guests are solely their own. While based on information they believe is reliable, neither Arete Wealth nor its affiliates warrant its completeness or accuracy, nor do their opinions reflect the opinion of Arete Wealth. This podcast is for general informational purposes only and should not be regarded as specific advice or recommendations for any individual. Before making any decisions, consult a professional.

In today's episode, Jack Shannon, equities strategies senior analyst for Morningstar Research Services, talks about why active fund managers seemed to repeat the same mistakes.Why did you decide to analyze these two investing periods?Examples of the market chasing companies pursuing growth at any cost What do you think drove active fund managers to snap up growth stocks as valuations skyrocketed?How can individual investors spot a bubble?Tech Bubble damageWhat surprised you when you compared the Dot-Com and Tech Bubbles?How did the interest rate environments play a role?  Read about topics from this episode.  For Growth Managers, History Repeats ItselfWant to Invest Successfully? Quit Trying to Make Sense of It  What to watch from Morningstar.What to Do as Recession Fears Grip InvestorsJust Where's the U.S. Economy Headed?Active ETFs Take Off –– 3 Ideas for InvestorsBerkshire Hathaway: 4 Questions and 5 Cheap Stocks  Read what our team is writing:Ivanna HamptonJack Shannon Follow us on social media.Ivanna Hampton on Twitter: @IvannaHamptonFacebook: https://www.facebook.com/MorningstarInc/Twitter: https://twitter.com/MorningstarIncInstagram: https://www.instagram.com/morningstar... LinkedIn: https://www.linkedin.com/company/5161/

Emad Mostaque is the Co-Founder and CEO @ StabilityAI, the parent company of Stable Diffusion. Stability are building the foundation to activate humanity's potential. To date, Emad has raised over $110M with Stability with the latest round reportedly pricing the company at $4BN. Investors include Coatue, Lightspeed, Sound Ventures, OSS Capital and Airstreet Capital, to name a few. Prior to Stability, Emad was in the world of hedge funds, that was until his son was diagnosed with autism and he left to make a difference in the space and help find treatments and solutions. In Today's Episode with Emad Mostaque We Discuss: 1.) From Hedge Funds to Finding Treatments for Autism to Leading the World of AI: How Emad made his way from the world of hedge funds to founding one of the leading AI companies of our time? How did Emad find a solution to parts of his son's autism with a $6 drug? How does Emad believe we can use AI to solve the majority of medical problems today? What does the future of healthcare look like with AI at the centre? 2.) Models: What is Real? What is False? Why no models today will be used in a year? Why all models are biased and how do we solve for it? Why hallucinations are a feature and not a bug? Why the size of your model does not matter anymore? Why will there be national models specified to cultures and nations? How is this implemented? 3.) Who Wins: Startups or Incumbents: Why does Emad believe there will only be 5 really important AI companies? Which will they be? How does Emad review Google's AI strategy following their news last week? Was their integration of Google and Deepmind recently a success? How does Emad assess Meta's AI strategy? Why does Zuckerberg now acknowledge the metaverse play was a mistake? How does Emad evaluate the approach taken by Amazon? Why are they the dark horse in the race? What can startups do to get a meaningful edge on the large incumbents? How do they compete with their distribution? 4.) The Next 12 Months: What Happens: Why does Emad believe the .ai bubble will be bigger than the dot com bubble? Why does Emad believe that the biggest companies built-in AI in the next 12 months will be services-based companies? How does the ecosystem look if this is the case? Why will India and emerging markets embrace AI faster than anyone else? What happens to economies that have large segments reliant on freelance work that AI replaces? Why will we see the death of many large content publishers and media companies? What does Emad mean when he says we will see the rise of "AI first publishers"? 5.) Open or Closed: What Wins: Why does Emad believe we must be open by default? Why does open win? Why does Emad side with Elon and believe we must pause the development of AI for 6 months? How does Emad evaluate the leaked memo from Google stating that neither Google nor OpenAI are ahead? What does this mean for the AI ecosystem? Where will the best AI talent concentrate? What do companies need to do to win the best talent?

Picture this: It's the height of the Dot-Com Bubble, hair is ridiculous, and the Soviet Union is a thing of the recent past. It's the 90's! A cartoon revolution is in the makings in the West, but in the East brand new shows that would go on to become classics of anime are in the making. Join the Best Boys for a jaunt back into the heady days of the 90's for a pair of mini-anime reviews dripping with 90's cool (or maybe not!). Best Boys Dan and Justin took a very scientific online quiz which assigned them some 90's anime to watch for this week, making for some fun and silly banter about this era in anime history. So turn off Seinfeld, plug in your discman and take a trip back to the 90's with The Best Boys! *My Hero Academia Spoilers Begin*- 00:10:50 *My Hero Academia Spoilers End*- 00:15:15 Anime News- 00:19:20 90's Anime Review: All Purpose Cat Girl Nuku Nuku- 00:43:00 90's Anime Review: Key the Metal Idol- 01:05:40 Follow The Best Boys on Instagram @bestboys_pod or send us an email at thebestboyspod@gmail.com. If you like what we do here, please go give us a review, it really helps us with the algorithm, especially on Apple Podcasts!   Bubble Tea by Pikuseru (https://fanlink.to/bubbletea) No Copyright Breaking News Music (https://youtu.be/a4I0jlETu4g) Sayonara April by KODOMOi (https://soundcloud.com/kodomoimusic) Creative Commons - Attribution 3.0 Unported - CC BY 3.0 (https://creativecommons.org/licenses/…)   Music promoted by Music Panda - Vlog No Copyright Free Music Video Link: https://youtu.be/jmuJp29d57Q

Tom welcomes back Tony Greer from the Morning Navigator to discuss the current markets and his outlook for the year. Tony expects further inflation, particularly from energy with the green transition. Markets are chaotic at the moment, much of which has to do with the yield curve – currently steeper than during the Great Financial Crisis and the Dot Com Bubble. It is important to watch what rates and the dollar are doing to understand how aggressive one can be with one's trades. He explains the bond markets' impact on the rest of the financial markets, and the current inversion signalling of a recession ahead. He is bullish on oil and refineries, believing the downside on energy is limited and oil-related companies have good upside. Tony gives his thoughts on gold, natural gas and why we've had a pullback in price, and why he believes energy and natural resources will be the outperformers this year, while tech will move sideways or down. Technology had a huge rally over the past couple of years, so a correction was overdue. Timestamp References:0:00 - Introduction0:40 - The Setup for 20237:45 - Yield Curve Importance11:40 - Inflation & Commodities13:20 - Energy & Risks19:20 - WTI & Breakeven Price21:24 - Dollar Trends25:04 - Long Gold?29:06 - Natural Gas Trends34:25 - Carbon & Commodities37:20 - Nuclear & Public Opinion39:45 - Resource Companies43:18 - Rates & Tech Sector45:47 - CFTC & COT Reports48:46 - Events & Bigger Themes52:12 - Concluding Thoughts Talking Points From This Episode The yield curve is currently inverted steeper than during past financial crises which could be a signal for a coming recession.Tony is bullish on oil and refineries and believes gold is a good risk mitigating investment this year.Why energy and natural resources will probably outperform this year.Tech sector is likely to churn sideways. Guest Links:Substack: https://tgmacro.substack.com/Twitter: https://twitter.com/tgmacroWebsite: https://tgmacro.com/E-Mail: tony@tgmacro.com After graduating from Cornell University in 1990 Tony followed in his father's footsteps to a Wall Street trading operation. He quickly learned his career path would be vastly different. He says, "I would not be sitting in the same seat on the same trading desk managing the same risk for the same firm for over 30 years." We have clearly entered a new era in financial markets. He began in the treasury department of Sumitomo Bank on the 107th floor of the World Trade Center downtown Manhattan. Tony was an FX trading assistant while the Quantum Fund was breaking the Bank of England in 1992. In 1993 he joined Union Bank of Switzerland as an FX and commodities trader, spending half a year as a Vice President in their Zurich treasury department. Then returned to New York City early in 1995 to join J. Aron & Company, the privately held commodity trading arm of Goldman Sachs. He managed risk for the Goldman Sachs Commodities Index, in precious and base metals trading, and futures and options trading on the New York Mercantile Exchange. He started his first venture in 2000 – Machine Trading which happened right before the tech bubble burst. That decision was his first excruciating life lesson in market timing. It turned out to be an extremely valuable learning experience. He believes there is a massive opportunity with both the unprecedented situation in global markets and in the way financial news is consumed. In 2016, he started TG Macro, LLC.

What should we expect for swing trading in 2023? Will the stock market write a new chapter in '23 and finally bottom, or will we go the way of the Dot-Com Bubble and extended the Bear Market for another 1-2 years? In this episode, Ryan Mallory discusses why you shouldn't care about when the stock market bottoms. Whiskey: Big Level Bourbon Be sure to check out my Swing-Trading offering through Patreon that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists and regular updates on the most popular stocks, including FAANG stocks, Microsoft and Tesla. This is provided each and every week! Check it out now at: www.swingtradingthestockmarket.com

What does it mean to be a Bitcoiner living in a Crypto World? Today's guest is Mark Jeffery, an award-winning serial entrepreneur and author with Harper Collins. He is currently working on the Boolean Fund Previously, Mark co-founded the Guardian Circle emergency response network (NEWSWEEK Blockchain Impact Award Nominee (2019), One of FAST COMPANY's 'World Changing Ideas' (2018); Partner: XPRIZE Foundation; Featured in TRUST MACHINE (2018), THE RISE OF BLOCKCHAIN (2019). He is also an early pioneer of blockchain technology, releasing BITCOIN EXPLAINED SIMPLY (2013) and THE CASE FOR BITCOIN (2015). His previous companies include The Palace metaverse (backed by Time Warner, Intel and SoftBank; sold with 10 million users), ZeroDegrees (a business social network sold to InterActiveCorp / IAC in 2004 with 1 million users) and ThisWeekIn (video network). He was the founding CTO of Mahalo / Inside.com (backed by Elon Musk, Sequoia and others). Mark is the author of seven books of fiction, published both traditionally and as audiobooks. His first novel, MAX QUICK: THE POCKET AND THE PENDANT is published by HarperCollins. Mark was one of the first three people ever to podcast a novel: MAX QUICK originally received over 2.5 million downloads in 2005. We discuss a variety of different topics including Bitcoin, the Venture Landscape, Crypto's Killer App, The Bitcoiner Ethos, and much more. We begin our conversation by discussing the Mark's backstory and journey to crypto. We dive deep into the topic of being a Bitcoiner in an increasingly crypto world. Mark explains the reality of being an entrepreneur in the Bitcoin space and the necessity of incorporating crypto to further Bitcoin's mission. We discuss why Bitcoin is so special and what is the holy grail for Bitcoin. We discuss the philosophy surrounding Bitcoin and what it means to be Bitcoiner. We pivot our conversation to discuss the investing environment. Mark explains why it is currently the best time to invest and build in crypto by sharing some of the lessons he learned during the Dot Com Bubble. Mark shares the similarities between the post Dot Com Bubble venture landscape and the current Crypto venture landscape. We discuss various crypto sectors that could lead to Crypto's killer application. We discuss how to avoid burnout and the importance of following your passion. Our last conversation topic centered around the various failures throughout Crypto over the last year and the lessons we can learn from them. Please enjoy my conversation with Mark Jeffrey

Is your home making you sick? With an average of 20,000 breaths a day the quality of the air you breathe is making you thrive, or trending towards illness.Our immediate surrounding (air quality) is a significant factor affecting our well-being, making the unchecked presence of mold in our environment an important health matter.Jason Earle is a man on a mission. An adoring father of two boys in diapers, an incurable entrepreneur, and indoor air quality crusader, he is founder & CEO of the mold inspection company, 1-800-GOT-MOLD?, and the creator of the GOT MOLD?® Test Kit.The realization that his moldy childhood home was the underlying cause of his extreme allergies and asthma, led him into the healthy home business in 2002, leaving behind a successful career on Wall Street.Over the last two decades, Jason has personally performed countless sick-building investigations, solving many medical mysteries along the way, and helping thousands of families recover their health and peace of mind. He has been featured or appeared on Good Morning America, Extreme Makeover: Home Edition, The Dr. Oz Show, Entrepreneur, Wired, and more.HIGHLIGHTS[0:00:00] Jason Earle, His Background, and Why He's an Authority on Mold[0:12:39] Wall Street, the Dot Com Bubble, and Wealth Gap[0:20:21] Finding Purpose in Fighting Mold[0:31:31] Investing in Better Indoor Air Quality[0:36:06] Where Does Mold Come From?[0:44:36] How We Can Control the Quality of Our Air [0:52:57] On Managing Humidity Levels[0:56:50] The 1-800-GOT-MOLD Solution[1:00:04] Mold Remediation and Forming a Good Ecosystem With Your Environment[1:13:29] On Quantifying and Managing Mold Growth[1:22:09] The GOT MOLD? Technology[1:26:56] On How Jason Manages His Body's Response to Mold Presence[1:32:04] Changing Perspective on Mold Sensitivity[1:34:55] Learn More About GOT MOLD? UPGRADE YOUR WELLNESS GOT MOLD?:  https://www.gotmold.com/beautifullybroken/Code: beautifullybroken10Claim your free toxicity consult through this LINKAMD Ion Cleanse: https://calendly.com/ioncleanse/detoxSilver Biotics:https://bit.ly/3JnxyDDCode: BEAUTIFULLYBROKENDIY Home Cold Exposure: https://www.penguinchillers.com/product/beautifullybroken/ Cellcore – https://www.beautifullybroken.world/affiliate-products My favorite BindersRe-Origin Limbic Training: https://re-origin.com/?ref=18Code: beautifullybroken LightPath LED   https://lightpathled.com/?afmc=BEAUTIFULLYBROKENDiscount Code – beautifullybroken BioStrap: https://biostrap.com/order-evo?ref=freddiekimmelp My Favorite Recovery TrackerDiscount: BEAUTIFULLYBROKEN Fully Vital Hair Restoration: https://fullyvital.com/BEAUTIFULLYBROKEN15 My Favorite Sauna: Therasage https://bit.ly/39mTxwYCode: BEAUTIFULLYBROKEN CONNECT WITH FREDDIE Check out my website and store:www.beautifullybroken.worldJoin my membership program –https://www.buymeacoffee.com/freddiesetgoInstagram – https://www.instagram.com/freddiesetgo/

Welcome to episode 501 of the Trading Justice podcast where Mark and Matt continue their discussion in Part 2 of their journey back through history with the Dot.com crisis. In this episode they examine the years 2001-2003 which included a Fed Pivot, earnings deterioration, the horrific events of September 11th, Enron and numerous other storylines. Mark and Matt discuss the market events in the year 2001-2003 and draw what parallels they can to this time period. In addition, before they dive into history the Justice boys once again break down a very busy time period in the here and now! Powell breaks out his dad voice but did he say anything new? Midterm elections, crypto carnage, earnings season….it isn't boring out there. Sit back and cast your vote for another episode of enlightenment and enjoyment with another can't miss episode of the Trading Justice podcast.       Welcome to episode 501 of the Trading Justice podcast where Mark and Matt continue their discussion in Part 2 of their journey back through history with the Dot.com crisis. In this episode they examine the years 2001-2003 which included a Fed Pivot, earnings deterioration, the horrific events of September 11th, Enron and numerous other storylines. Mark and Matt discuss the market events in the year 2001-2003 and draw what parallels they can to this time period. In addition, before they dive into history the Justice boys once again break down a very busy time period in the here and now! Powell breaks out his dad voice but did he say anything new? Midterm elections, crypto carnage, earnings season….it isn't boring out there. Sit back and cast your vote for another episode of enlightenment and enjoyment with another can't miss episode of the Trading Justice podcast. Market Skyline 1:15 Feature: Dot Com II 36:20

Mining on the moon? Owning an asteroid? Neil deGrasse Tyson and comic co-host Chuck Nice answer questions about the private space industry, the role of NASA, and the future of space law with former Deputy Administrator of NASA, Lori Garver. NOTE: StarTalk+ Patrons can watch or listen to this entire episode commercial-free here: https://startalkmedia.com/show/cosmic-queries-nasa-v-billionaires-with-lori-garver/Thanks to our Patrons ​​Adam Connelly, ManDarin, Sergio, Glenn Carter, Anthony Schena, David Lenwell, Bruno Anyangwe, Christopher Soliz, Roslyn Goddard, and Chris Jones for supporting us this week.Photo Credit: NASA