What the Election Results Mean for Emerging Tech w/ Salim Ismail | EP #128

we've got a republican Administration coming in what should be their policy on bitcoin and cryptocurrencies I think there's incredible potential here to operate now create a global store of value how that juxtaposes with the Fiat systems is going to be the big question there is an AI arms race going on it's not even between governments it's between companies is AI able to be regulated shouldn't be regulated I don't see any mechanism like at all that you can regulate AI the the the horses left the barn how long before our Democratic experiment here gets revamped for

a world of AI sensors networks democracy is the worst form of government except for everything else we've been running democracies at a nation state level for the last few hundred years the future of the world is not nation states it's city [Music] states everybody Peter danders here welcome to WTF just happened in technology I'm here with my dear brother and Technology officient a SEL Isel the head of exponential organizations uh selem good to see you pal likewise big day big day yeah we're recording this on November the 6 uh the Trump White House is imminent

um and the impact is going to be profound across all areas of technology and I think we should talk about that right we see Tesla up 15% % Bitcoin is up at all-time Highs at $6,000 uh $6,000 up to $75 $76,000 um significant moves forecasted by a prot te Pro deregulation uh White House that's coming I I first want to say listen I when I tell people any questions for me other than sports or politics I am a Libertarian capitalist is how I would sort of uh describe myself how about you uh yes I'm a

Libertarian capitalist with some level of a social floor U minimum Ubi framing type stuff uh so very close to you in this episode I really want to cover uh what we're expecting to see and the impacts on on cryptocurrencies bitcoin on AI on humanoid robots on flying cars autonomous cars uh biotech deregulation space exploration I mean how about you oh absolutely and I think that there's a really important commentary also as to how do we do policy formulation when technology is moving so quickly I think that's a key area yeah it's called like racing headlong

into a brick wall um I mean honestly I I would not want to be in the government for a number of reasons right now but in particular because things are moving so fast it you know we're trying to match government Reg ulation with the speed of Technology change and it is um it's an imped impedance mismatch if you're an electrical engineer it's like impossible well one of the ways we talk about this is that you know most government policies defensive and reactive yes right and there's only two places in the world that do Forward Thinking

government policy which is Singapore and Dubai and even there they don't do it that well so I think one of the incredible opportunities for any government around the world including a new government arriving is we know passenger drones are coming let's formulate the regulatory early so that we can kind of figure things out that way when they arrive you're not losing decades waiting for policy to catch up yeah without a Target you'll miss it every time I want to jum let's just jump in here I think the first place I'd love to have a conversation

with you is on bitcoin and cryptocurrencies um you know we have seen a lot uh of movement in the markets and we've seen uh Trump and his team uh speak about being the Bitcoin president I my my fraternity brother and past roommate Michael sailor from micr strategies has been tweeting up a storm um how do you think about this I'm I'm obviously I'm very optimistic as a fellow Bitcoin maximalist um I think there's incredible opportunity now I think the crypto stuff has been lagging behind the US has been woefully behind many any other regulatory structures

and therefore all the crypto developments happening in other places in the world which is pathetic given the The Innovation potential of the US so I think that's a huge CH opportunity I think the huge challenge is the is the challenge the crypto and Bitcoin specifically present to the the US dollar hegemony and I think that's the tension that's going to have to be played out over the next few years um agreed uh I found it interesting Trump saying that he's going to hold on to all Seas Bitcoin and and sort of create his Bitcoin piggy

bank in the government which I actually think is a very good very good move um you know having seen El Salvador and other countries begin to sort of uh base policy and economy on bitcoin as a stabilizing force uh you know you know just just AO Michel Saar we have 200 Fiat currencies right it makes no sense to have that many we don't really need that many you need a we need a store of value you need a means of exchange you need a unit of account and we can do a lot now with the

potential of Bitcoin which is a global digital technology replacement for stores of value um and I there was a great commentary around the fact that money has always been uh represented by traditionally the hardest thing to make so seashells we used to use as money because they were hard to make uh you could you could only find a few rare ones like that hard to mind right Bitcoin is really hard to mind it actually gives it credibility because it's so hard to buy you can't fake it in in that sense so I think there's incredible

potential here to operate now and create a global store of value how that juxtaposes with the Fiat systems is going to be the big the big question you know it's interesting I've been uh I remember when I was young people would get a uh a s a a savings certificate at weddings or at birthdays and you know the last few years I've been giving out Bitcoin to to folks when they're you know married or on a special occasion no longer an entire Bitcoin but some number some percentage of a Bitcoin because I think for the

long run the whole idea of a savings certificate was you know long-term thinking a 20y year or 30-year thinking and I think Bitcoin is going to be replacing that um you know I remember the first time I've heard heard about Bitcoin was from you on the stage at Singularity University uh and then I got religion I went on uh CNBC and said you know sell all your gold and buy Bitcoin which I did back then not never enough uh and you've been on stages you've been stages uh you know a number of stages even more

recently in X price saying you know buy Bitcoin there was a great cartoon I saw and it said dad do you remember when Bitcoin was below $100,000 um and I think we're going to be there soon we will there I I ran across somebody at a conference a family office conference last weekend who said to me hey Sim I met you a couple of the early abundance conferences and the abundance Summits um and you guys gave us all like a few Bitcoin each and I lost it so so I find there's I find there's two

uh uh people that I run across from like 10 years ago 12 one of them my God you mentioned Bitcoin and I bought a bunch and God bless you and the other is you talked about Bitcoin I didn't buy any and godamn it wish either way it's it's really really a kind of a point in time yeah in 2014 at the abundance Summit I had a Bitcoin ATM and I gave everybody uh you know a hexad decimal hash code for Bitcoin and I said here you are here's a gift don't lose this it's valuable and

they did of course anyway not as bad as folks who have lost hard drives worth of thousands of Bitcoin in the right I think the statistic is we've lost about 20% of Bitcoin to Lost hard drives etc etc you know it's important to note for the folks that are freaking out because they missed the boat that the first 3 four five years of Bitcoin it was a huge question mark whether it would make it or not because so many different attempts at digital stores of value have been attempted in the past hash cash ecash uh

digital gold Etc it was it took a few years before people clicked in that the engagement model going back to the EXO model the engagement model in the gamification was so powerful that it was a positive feedback loop and was here to stay and I think it's really really powerful before we leave this leave this subject there's something else coming I think is going to be enabled and empowered by this Administration which is uh digitizing assets uh the whole realm of like if you own an apartment building in Miami or in central par West or

you own a valuable piece of artwork that you could digitize it effectively and um and sell you know a crypto version or percentage of it can you speak to that oh my God I mean the minute you can do that that's huge and something big has happened over the last couple of years uh go for folks that are interested go check out a company called materium led by V Gupta who is the head of ethereum when a head of community for ethereum when it launched he was the launch manager I think for vitalic and team

and what he's been doing over the last seven years is trying to figure out the legal stack between if I have a digital token that represents some rare bottle of wine do I have the legal standing to be able to colle connect collect on that bottle of wine and he solved that problem I think he works in like 170 countries already and so therefore we can now tokenize anything and represent it with dig digal tokens and fractionalize any asset and I think this will unlock the most extraordinary potential since the floating of the dollar off

the US off the gold standard yeah I mean this is trillions tens of trillions of dollars well the global economy is close to 600 trillion about half of that is real estate yeah so if you just digitized property Land Titles right yeah now you have like you've got half of the world's wealth that can be fractionalized that way and infantas fractionalized so I could own a tenth of a piece of a room of a New York condo if I want to uh and the Beautiful Thing is it comes along with certain rights where you get

a day a year of being able to sleep in there or being able to assign that right to somebody else and so you know you can own yeah another company focus in this area is Abra and Republic right I'm going to have bill baright at abundance 360 this year speaking about their efforts on digitizing assets and being able to um being able to like fund a fraction of a movie like if like there's a movie in production by James Cameron you can you can fund a fraction of it and you get certain rights for the

opening or for seats or whatever the case might be as soon as you digitize ownership you can add secondary rights besides just ownership onto those I I think this is this unlocks so many things we've been watching this by the way in the nft world as people are uh uh innovating very very every project learns from the last six months of projects and does something new and that whole ecosystem is moving faster than anything I've ever seen except for maybe AI so bottom line selem is we've got a republican Administration coming in um what should

be their policy on bitcoin and cryptocurrencies well I think let's let's separate Bitcoin from cryptocurrency just for the second but two things I think are really critical right now every cryptocurrency transaction is taxed as property so you have a capital gains if I wanted to buy a cup of coffee with crypto that's a capital gains tax event which slows down the adoption radically I would change that rule so that you could clearly separate between stores of value and means of exchange if I'm using payment doing payment for goods and services using crypto that should be

taxed as if it's a taxable transaction not as a freaking property tax right and as a as a um asset tax I think that's one I think the second is to much more allow the financial world to accept Bitcoin as a store of value for example financial advisers are not allowed to talk about Bitcoin to their own clients crazy and come to them I said to my mom I said Mom listen you know I would love if you would please diversify and put some of your assets into into Bitcoin or at least into a a

Bitcoin ETF and her whoever Morgan Stanley whoever was like not allowed to do that sorry crazy so I went looked into why and it turns out the risk of Bitcoin is too high for them to accept from a professional perspective they don't want to take on that risk which is ridiculous right if the client wants it and this a hello Howa free market so I think that would be an area to change uh and change the game on so there's all sorts of areas around the financial regulatory that could be undone and I think uh

that's where an area where we could do quite a lot of U um uh updating of regulatory structures that are desperately out of date and serving nobody but the Legacy environments there will be some dramatic changes within the SEC very shortly all right um bottom line is I think you opened up with that point the US should be leading and not following and most definitely not retarding progress in this it is it's a definitive it is coming it is moving at uh accelerating speed one of the things that people need to realize is that as

we as we get to uh AGI and agents and digital superintelligence the ability for AI systems to be able to transact financially is what is going to unlock yet another Super exponential and the only way you do that is with with digital currencies um that's right and and so it's going to happen uh and and it should happen here in the US uh otherwise that that Super Hyper exponential call is going to occur overseas someplace that's right I just want to touch on one piece of this because lot of people don't click into this for

me the the magic of crypto is not that it is digital the US dollar has been digital for a long time it's the fact that I can program a transaction and and and modify Behavior so for example if you were if I was to buy that nice jacket that you're wearing um right now I have to kind of hope that I send you the money I hope you send it to me and we have eBay as middlemen and take extracting a tax for things like that and we pay a lot of money for that incremental

tax right um in the future I can basically say hey I'm going to send you $100 the system keeps it an escr programmatically you send the jacket the minute I accept delivery it releases the money to you and the whole thing is done programmatically with almost zero transaction cost okay and that I think is important I think there's and I just want to touch on one thing which is where we're going to get resistance from this is Wall Street I came across the most ridiculous fact over the last 20 years or so 40% of American

corporate profits are the financial sector 40% that's just a ridiculous number the tax on the money going through the system so I'm hoping that that the deregulation starts to help to unwind that but there's going to be very Fierce resistance from the banker types that go no every transaction should go through US Etc well guess what things change fast yeah and I and I think the the opportunity for crypto to bridge across into real world applications is now enabled 100x than it was say two years ago um you know I would love to talk about

the fact that you put a mortgage on your home to buy Bitcoin a few years back but I'm not sure I should um my Lily is still smarting over that one well listen she now she's happy because Bitcoin is like flown to the roof literally of the house never never happy but yes happier yeah happier okay well hey so listen let's let's switch from uh from Bitcoin I also want to just make make a point here um because I'll get in trouble otherwise Lily has been an incredibly supportive partner around all this with the very

reasonable caveat of look distribute the risk a bit because you just don't know and that's correct you know you and I are would with throw everything at and so so this it's really really powerful and important to have that balancing voice but have we ever been wrong I don't think so no no except for those 16 times listen I'll I'll vouch for you you vouch for me on this one um did you see the movie Oppenheimer if you did did you know that besides building the atomic bomb at Los Alamos National Labs that they spent

billions on biod defense weapons the ability to accurately detect viruses and microbes by reading their RNA well a company called viome exclusively licensed the technology from Los Alamos labs to build a platform that can measure your microbiome and the RNA in your blood now viome has a product that I've personally used for years called full body intelligence which collects a few drops of your blood spit and stool and can tell you so much about your health they've tested over 700,000 individuals and used their AI models to deliver members critical Health guidance like what foods you

should eat what foods you shouldn't eat as well as your supplements and probiotics your biological age and other deep Health insights and the results of the recommendations are nothing short of Stellar you know as reported in the American Journal of Lifestyle medicine after just 6 months of following biomes recommendations members reported the following a 36% reduction in depression a 40% reduction in anxiety a 30% reduction in diabetes and a 48% reduction in IBS listen I've been using viome for 3 years I know that my oral and gut health is one of my highest priorities best

of all viome is Affordable which is part of my mission to democratize health if you want to join me on this journey go to vom.com Peter I've asked naine Jane a friend of mine who's the founder and CEO of viome to give my listeners a special discount you'll find it at vom.com so you know we've got to talk about AI um it's coming strong you know last week I was in Saudi and interviewing Elon on stage uh at the fi8 summit and then I interviewed uh Eric Schmidt and Ben harowitz and the CEO of Tik

tock and uh SVP of Nvidia uh and Travis from you know the past con of uber and it's like literally the entire conversation at you know this event of 5,000 world leaders and investors is all about AI all the time and so it is a uh it is the underlying conversation underpinning everything um and there lots of implications and we should talk about them uh and I want to hit on them top of mind right now is is AI able to be regulated should it be regulated uh number two there is an AI arms race

going on it's not even between governments it's between companies um yeah and how do we think about that number three this flows directly into energy right the amount of energy that we have to produce is extraord ordinary and one of the conversations taking place on stage was listen we're not going to meet uh all of the uh you know the uh climate crisis goals because we need to invest every form of energy to to drive AI but AI is going to help us address the climate crisis so how do you think about those okay there's

a bunch unpack here let me let me uh touch on regulatory first right I made this comment with you a few months ago that Elon actually retweeted a two-minute clip of this where I said I don't see any mechanism like at all that you can regulate AI the the the horses left the barn you you'd have to regulate every line of code written okay and it's put so many interventions and because somebody could create a private open source model and boom you you've got all the capabilities that you do in the close Source models I

don't see that the I mean one of the hopeful areas was the by the size of the model but because now we're doing training on small small models that goes out the window so it's one of those where the minute you try and structure a framework for the regulatory that framework is broken because the technolog is advancing so fast and we can talk a little bit more about how do you do regulatory in general so I'm on the camp that says I just don't see a mechanism of any kind I did have a conversation with

the Lord mayor of London who's a bit of a brain on some of this who thinks that ISO standards are path to it so if I claim I'm ISO certified on whatever AI standard that is approved um I they will ISO will actually certify whether my AI systems meet the meet this criteria or not I think what's going to happen here is the private Market will will navigate this for example if I'm using a data set as a bank I really need to make sure that that data set is AI clean and authentic and not

using dodgy data and therefore there's all sorts of AI auditing systems and companies that audit AI systems that are popping up to help with that and so I think the market will navigate this much faster than the government will be able to yeah I I don't think the government can regulate it it moves at the speed of uh of conversation versus versus technology well moves at a legal pace which is like infin infly slower I one one of the places that that's going to AI is going to be disruptive is going to be the legal

system right the yeah yeah in a huge it's it's every movement there's a big movement popping up in my EXO community of saying okay let's figure out the future of legal using these different tools because there's all sorts of areas like contract Drafting and Discovery Etc that can be completely automated it's going to be amazing one of the most interesting conversations I had a a meeting this morning with my abundance patrons and we're were talking about HR and I said listen the very best HR Support you're going to have as a CEO is going to

be an AI system that's able to listen to view the conversations on the email traffic of your servers or have a conversation with every employee understand their grievances understand their point of views integrate it all and sort of separate the noise from the high signal like yes this is really and then give you directly as a CEO I because I personally think you know a great Chief HR officer should be reporting directly to the CEO it's your mechanism for tapping tapping into your people right which today is your scarcest most important resource so I came

across a company over the last couple of weeks that does something amazing they drop an AI into your backend systems and it sucks up all the slack and the HubSpot and U Salesforce data and traps it all it can instantly store all the key information so if you lose a key employee you don't lose institutional information which is one of the hardest things and the second thing it does they can instantly create training modules for every task in the company M and it's a it's like paler in a box it's a SAS platform so it's

going to be unbelievably inexpensive the value creation here is unbelievable and now you never have to it's just like a because AI are so good at maintaining software now we never have to worry about software maintenance in the future I that propagate to allers through other areas really quickly you know uh I had on stage last year Gil of Veron who heads the uh effective accelerationist movement you know and and I am like vibrating with this with the level of energy the speed that things are going to move we really entering into a hyper exponential

period of of change where um the challenge is going to be the ability of entrepreneurs to um or actually sorry the ability of existing companies to on board all these new technologies and get out of their own way can I be that's that's what you teach at EXP organizations are what we wrote about in our book a big time and I don't see in fact you know look at how difficult it's taking like 20 30 years for companies just to digitize right the the the metabolism change to AI is another step function order of magnitude

so the opportunity for entrepreneurs is unbelievable the big problem I think is at what what model level do you plant your flag if you're building an AI startup right I'll go back to Kevin Kelly's famous comic from 10 years ago where he said the next 10,000 business plans will say take a domain add AI to it yeah just like it did 100 years ago with electricity boom um so again you know what's going to happen on the government level as a result of this I I think one policy change we're going to see is build

build build um on a few levels energy production we should talk about that and the hyperscalers I think that there's a perceived sense that we're in a race against China um though I don't know that that's true because China doesn't have the you know the GPU I had another person on stage I interviewed was Kaiu Lee Kaiu is amazing right he worked at Apple he was the head of Microsoft China the head of Apple China uh he now has a company called uh beo um which is a new search engine that's uh based in the

US uh he's a he has a three or four billion do uh VC fund called Innovations out of China and he's saying we had to reinvent our AI systems uh for efficiency cuz we only could get 2,000 gpus right um you know to for for comparison you know Elon stood up xai in 122 days with 100,000 h100s and now he's doubling it again to 200,000 right the largest cluster ever um and so there is a there is an arms race but it's between companies I and also you know I had a conversation with Gil ver

done at at visioneering two weekends ago right X prizes your your thing um and uh his proposed prize was doing a training AI models and Chip architectures 10,000 times cheaper than today's architectures and well actually 10,000 times less energy energy efficient right but when you can go price performance that much of a difference remember that means we're using 10,000 times less energy so I think a combination of decreasing uh um architecture costs price performance wise or increasing performance on that side plus um today more than 50% of Bitcoin is is uh renewable energy right and

we forget how much energy availability there is in the world I was in Kazakhstan earlier in the summer and there's a guy building there's a gigawatt Wind Farm that's been created out in the middle of nowhere in Kazakhstan but useless because they can't get that energy because the transmission costs are too high to get it anywhere useful great stack a Bitcoin mining form and an AI data center next to it and it's completely useful so we're going to tap all of these energy sources all over the world pockets of them that can't be used for

anything else and I think it will go down this incremental and marginal renewable energy sources that can't be used elsewhere and that'll completely solve the problem as those two curves intersect of radically new chip architectures that decrease energy usage plus increased marginal uh uh cost of or energy demand Supply curves it it is crazy so let's talk about where the energy is going to come from uh because I think that needs to be part of our of our conversation check out this image here this is uh just recent uh that red line down there is

India went from one terawatt hour production uh to two it's doubled uh you look at that green line uh it's China uh in 2010 China was producing 4 terawatts uh it's doubled and it's doubling Again by 2030 they're just unleashing as much energy as possible and the US has been pretty flat but what's interesting and we're at four ter and have been but what going back to AI um the projected demand uh if we're really building out all these hyperscalers it could consume 100% of the US energy production by 2030 so what the conversation going

on in in Saudi at the future investment initiative uh conference was we need as much energy as we can from every possible source which means um you know when and solar Fusion in the future generation for uh nuclear which by the way is super safe and uh uh and and cam um the CEO of axium space Also is a chairman of uh energyx they just signed a contract with Amazon for Gen 4 nuclear power production which is crazy right yeah companies companies are are signing contracts for nuclear power supplies for for their AI factories so

I'm I'm excited about the private sector stepping up here right Gen 4 nuclear has been safe for a long time I think the best thing governments can do is say go to town because we know it's safe and and and build build build what I'm hoping is that we start building nuclear fusion wind solar which is already way cheaper than fossil fuels rather than going backwards and burning more fossil fuels because that would be solar if folks haven't heard about perovskite um it's another tech I'll be featuring uh at abundance this year it is you

know 50% more energy uh per square meter uh and as much as 50% cheaper uh and it's just incredible important to note here that py replaces the Silicon solar panels where we use all the Rare Earth elements so that's Double Impact there it's actually kind of a salt that's very widely abundant and they found it has the properties of of trapping solar energy and as you mentioned Peter it's been in the labs for a while now it's getting to commercial scale and this is incredibly exciting for the future because you'll be able to spray that

onto windows and onto roofs Whately change the game yeah perov is producing 100 megawatt plant in Texas I think we're going to see a lot of progress you know there is so much solar to be captured it's there as energy that's not in a usable form yet but coming back to AI cuz people people are scared about it and I think um you know listen from my standpoint I don't know about you I think I know your position I'm worried about AI over the next 3 to 5 years during this period of time before we

have it's progressed sufficiently you know last year at the abundance Summit we had this conversation about digital super intelligence and my conclusion was are you you know the question was are you about a world where digital superintelligence exists or a world where it doesn't exist and I think that I'm more worried about us humans in a world where it doesn't exist and doesn't support us from our irrational thoughts and actions um can I ceue up my my standard rent here please um so you know consider a spectrum of intelligence where you have smart you have

domain intelligence you have general intelligence then you have emotional intelligence then you go over into kind of Consciousness uh uh and broader forms of of in decision- making right we've been kind of going across that Spectrum with AI um with doing basic calculations Etc Marvin Minsky has this wonderful hierarchy of the ideals of AI where you get to self-reflective and then reflective and then a conscious Etc the problem I've got when people worry about um computers in AI becoming smarter is that what the hell do you mean by smarter because when I make a choice

I'm using my my emotional intelligence I'm using my spiritual presence and the concept of awareness from the Eastern world I'm using um U historical memory intelligence Etc all sorts of aspects there's about a dozen facets of intelligence that the IQ test does not measure and and so when you talk about ai's overtaking human beings in that a calculator is way faster than doing math than a or a spreadsheet than a human being anyway it doesn't mean it has Intelligence in the same way than a human being does so I really don't I really go nuts

about this because for me it's tickling the amydala that you like to talk about you're provoking you're stoking people's fear I see no mechanism of achieving that mostly when you get to once you're getting to Concepts like Consciousness we don't have a definition for it we don't have a test for it right a subset of Consciousness is considered self awareness and you look like you're self- aware so I attribute that to you I think I'm self-aware but my wife disagrees right it's just it's like hard to even start the conversation around some of this stuff

but people freak out about the concept without knowing what they're talking about so I I'd really love if people would kind of calm down take a breath um look at what are we talking about with intelligence uh and then notice that that where we're applying Ai and computation and so on is in areas where human beings are not good anti-lock breaking Systems Credit card fraud detection fuzzy logic in your cameras to keep them steady those are all the areas where we're not good that's where we're applying Brute Force calculation and AI which is where it'll

be profoundly Prof things so I think of AI developing intelligences that are orthogonal and complimentary to human intelligence not replicative of it at least for a very long time to come and I may I may I may I may differ with you there but coming back to uh the you know the White House and there AI policies um the question is going back to original conversation I don't think there's anything they're going to be able to do to regulate it yeah um I think that they're going to view it as America's most important strategic development

you know there's a there's a video I've I've shown you know of Sam Alman saying listen I don't care how much money we spend 50 million 500 million 50 billion we're building AGI and it's going to be worth it yeah right that's his his point of view and then the question is what the hell is Agi anyway you know we passed the touring test months ago or years ago um and there's no real I I think we're going to have achieved AGI and not noticed it or not put a Line in the Sand agree can

I tell you where I'm incredibly excited and if I was in this Administration I would think about a lot is government policy okay so let's say you want to drop inflation by 1% um uh right now you've got a set of a human being as an economist with a few knobs and levers and they have no idea what they're doing they're mostly guessing at it and hoping that something may happen or not happen I'm Sor to disillusion everybody who's watching who thinks the economists know what they're doing when they're moving the uh I mean because

you do some stuff and then you hope it is by far an exact science let's just let's just put it that way it's the most polite okay now if you have an AI with all the access to economic data and that can track transactions real time all over the world and you say figure out how to drop um uh inflation by 1% and give us the negative consequences of any side effects on other policies and come back to us and it'll figure it out I think that's where this unbelievable opportunity and a clean slate thought

process here would be so powerful to to doing some of that type of work applying it into areas where we're using fuzzy guesses at F and you know again anybody listening who's running a company same conversation right if you're looking to increase your your sales but you're going to have to get the data to enable your AI to know what the hell it's what it's talking about yeah and as I said we just came across this company where you drop it in it handles it all it's amazing so everybody I want to take a short

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as one of my listeners all right let's go back to our episode so okay we talked about about that we are also having an adjacency to to AI is humanoid robotics um you know I'm putting out a metat trend report on humanoid robotics in about a week's time and you know I'm tracking right now 15 of the top companies in humanoid robotics they are of course Tesla with uh with Optimus and they are figure uh with figure 2 uh we've got Atlas from Boston Dynamics and a number of companies out of China right so China

desperately needs humanoid Rob also India is starting up as well as we're seeing so you know Japan and South Korea it's the countries in particular China because it can't survive can't survive with it after its one uh its one child policy it's low labor rates is what made it the dominant Global manufacturing base but those labor rates are going up and their populations are are dwindling h i so I think this is incredibly exciting at the commercial level okay I think I get nervous when we talk about domestic robots in the house folding clothes why

um so I look at the my Roomba vacuum cleaner robot okay and I'm still at the comparison no no but I'm still at the point where I'm having to move all the chairs to to make way for the thing and by the time I'm done I might as well just done the vacuuming myself right so we we've had about a decade of vacuum robots and we've only got marginally better okay now humanoids May robots may do very good thing but I'm wondering at what point a mother is comfortable saying to a human robot go change

the diapers on the kid cuz that requires like the and the the liability issues by the way can I take a quick segue into the regulatory here for a second of course you can so I for I've been talking to a few insurance companies and I've come up with an i I've kind of gained this out I don't see how we don't end up in this scenario where insurance companies go to the government and say you cannot regulate human robots or drones or whatever whatever the technology is we have the liability insurance risk structure plus

a capital based that can mitigate it why why don't you just say if you can get liability insurance for your application we're good you you let it go and and I think that's what's going to happen because then the insurance companies have the mechanism to to manage it at that use case level and say okay if the robot is cleaning windows and it's limited to cleaning windows fine you can you whatever you want with a robot doing cleaning windows right the minute it gets to um um clipping the hair of a pet if it makes

a mistake you could have a problem or changing the diaper on the baby whoa I can't give you liability insurance for that I think there's a segue here where I think that's what's going to end up happening and it allow us to move the domain much more quickly but I think we're a long way away from a a general human humanoid robot I think specialized use cases like you know empty the dishwasher and put things there one of the things that I got really excited about about 10 years ago was Baxter the robot I remember

Baxter yes and the powerful Rodney Brooks right was the CEO there that's right that's right and and and I remember Saul Griffith showing us this and the key thing that was such a huge breakthrough is in industrial robotics you always had to program a robot you had to say pick up this widget turn your arm 90° move over here turn it back put it down you had to explicitly program it and with backer you could show it what to do adaptively move its arms and then it would then figure out the task in that very

specific narrow use case and do it from then on I think that potential with llms integrated in makes this like hugely perfect what's going on the difference now is the robots are visually seeing what you as a human does and it's learning from that right so it it is I I just like I wonder how long you know would you have a robot cook for you and what if it you know I I mean I I I don't I don't know I think there would be S let me give you I thought this through a

little bit let me give you okay so I've got a humanoid robot standing next to me okay and I want to cook a Indian dish which is very complex a proper hyad Biryani which is where I was born takes like 6 hours to make okay so number one robot go get all the ingredients for this recipe and pull them all all on the table right number two take this stack of ingredients and grind them together and roast them in a frying pan because you need that proper roasting but it can't smell quite as well as

I can so I have to go over there and do the smelling to make sure it hits hit the right level of the raw smell going away okay great then I will kind of blend it Etc okay now go watch it and make sure it's okay until it's ready typee of thing and stir occasionally so I I can see there being an interplay here and there within certain cases but uh uh or it take it does the whole thing in an automated way uh but I I just don't see some of the other use cases

being as easy yeah I I I'm going to disagree with you on that we we learn to trust robots uh called medical devices and um and there are uh you know I think ultimately the these robots are going to be a lot more reliable than humans who forget who make mistakes who you know don't show up on time uh there's going to be a learning curve of course in a medical context if I'm doing a soldier surgery right of course in robot is going to be way better and much more precise i' much rather have

a robot doing it that has access to every recording of every operation ever done than that but if it's doing some adaptive things this is where it becomes it's adaptive where um a my favorite vase is about to fall over and it's about to vacuum there and it doesn't see that part those that's those are the areas where I think the and there's a lot of those educ cases this why this is why autonomous cars have been so hard and by the way please know I'm desperately hoping for it right I I know you are

I know you are we've been talking about this together on stages from around the world for for the better part of two decades but so here's my question coming into a a new uh Administration yeah this next fouryear period of time is the time during which we're going to see Ai and Robotics begin to displace jobs not worried about jobs you're not worried about jobs no for all of the reasons we've talked about before I know we talked about this but I I still believe we're going to see increased efficiencies and we're going to see

job displacement I'll agree with Mark Andre here that every major injection of techn techology has exploded the number of jobs not reduced it and you you have said on stage many times the countries with the highest robotic penetration Sweden South Korea Germany countries with the lowest unemployment Sweden South Korea Germany it's it's it's the correlations are very clear the data is very clear on this one so I'm not worried about unemployment or job transformation of work yes and I go I go down to the hang one last Point here I go down to that idea

that let's say I'm a financial adviser for a company like Morgan Stanley okay um I I have a set of about 27 tasks that comprise my job function and and a robot might or AI May automate like eight or 10 of them but it's not changing the other 17 so I still have the job but I just make the job easier this is like using Excel for calculations rather than running it on a spreadsheet or an abacus or a slide rule or a calculator and so I think we end up there and it's a long

time before we automate thing meanwhile there's all sorts of other jobs that have been created like AI training agents and so on we'll see I mean you and I have talked about the need for Ubi Universal basic income uh on the back side of this if I could see one thing that this Administration should go after its Ubi well why if if jobs are not a thing if jobs are not concerning why should they go just unleashes entrepreneurship all the Ubi Studies have shown that when you give people age that and it's really important to

note that you got to find the balance between giving people too much money and they become too fat and they don't work and and not having enough to Ser you want to hit the balance where they can survive but not be happy right and we've studied these these experiments when you can hit that balance which an AI could figure out by the way um uh you then have a hugely productive economy but everybody's Baseline is still covered and then you can dismantle government services and this is an area where if the Republicans are interested this

is an area and here's what where it's really fascinating I don't know if you've tracked what's been going on in the Ubi space but a large num of cities and states and countries around the world have blocked experiments on Ubi no they' said you are not allowed to experiment with Ubi why because they don't want to be true yeah their governments they're they're scared to not be needed so they literally passed legislation saying all the towns in my state are not allowed to experiment with Ubi that's freaky that's the area where I think a trump

type Administration go are you kidding get rid of all of that crap and let people experiment with it because you need more experiments all right one of the things that's going to be true about this Administration is going to be a massive wave of deregulation yes um and that's going to hit a few Industries off the top uh biotech is one uh space is another um your choice which one you want to go after first I'd go after biotech first just because has such immediate obvious consequences using stem cell therapy like right now we travel

overseas to get stem cell treatments for various things which is ridiculous right um what was that um robotic surgery company in in intuitive surgical robotics yes so I had a friend that lived next door to the factory in San Jose and because ne ne surgeries were authorized but not shoulder surgeries he had to fly to Switzerland to get an intuitive surgical robot to do a shoulder because they could they didn't authorize it in the US yeah he lived next door to the factory right like the the kind of chaos that we're doing around medical tourism

is unbelievable and I think the US has an unbelievable opportunity to correct some of that aspect right now the FDA focuses on safety rather than efficacy if I could wave one wand and say go after efficacy and not safety I mean the challenge is that you're blamed if there is one problem you're not blame for all of the lives lost by you blocking the therapy and I I think this is for me you know because I'm in the biotech and Longevity and regenerative medicine world and so forth it has been there's so much potential I'm

seeing so many incredible companies around the world um that are being unlocked because of AI and Gene therapies and crisper and such but the process of getting it out the door safely um um is is been massively hampered because of the the deregulation you know I I I talk about the notion of having a uh a uh a process by which an individual has a right uh to try these therapies yeah you know we we have we should we should be able to sign up for stuff like that and not have totally agree yeah we

have the sense that the government has to protect me against myself which is you know my body my rights Give me the give me the chance if if it's fully sufficiently disclosed where I disagree somewhat is public health because now if I get a virus and transmitted to lots of other people I'm damaging a lot of other people so that is a mitigation there but for anything at the personal level I completely 100% agree with you yeah uh so excited about deregulation in the biotech World in particular in regenerative medicine in the stem cell world

exosome and such uh even peptides yeah now now there's a lot of cowboys out there there's a lot of mom and pop shops that are are trying things and advertising I mean at what point does do we say Hey listen you know if you're an idiot enough to go and and just take the first injection you get um um that you know buyer beware I think caveat mtor applies in many of these cases you just have to be uh the one danger side that I see coming in this Administration is there's been a movement of

anti-science right which Administration that's coming there's a huge wave against scientific process and scientific thinking because people put political um motivations on people for just trying understand what the hell's going on with something there's so much data that we have that's I think the the one thing I would hope for is that people be as evidentiary as possible and you get you can go drive yourself crazy with with evident with conspiracy theories if you wanted to because you can always find data to support you have massive confirmation bias uh the the actual data and this

is where I think AI can perform a huge service because imagine there's six experiments on psilocybin somewhere it can analyze the data across those and come up with a meta analysis that would be very powerful that we can't easily do as human beings but it could go you know what that's actually safe for these types of use cases Etc and you could then deregulate that aspect of it so I think there's huge opportunity somebody has to have The Bravery the go but I'll go back to the earlier point of we need to reorient from safety

where you won't authorize a drug if it kills 10 people even though it saves 10,000 people to efficacy and that's when you really unlock massive opportunities you know it's it's even worse than that do you know what percentage of drugs that are prescribed to an individual actually work in an individual no it's like 20% when you when you get I mean it's pretty sad when you get a drug prescribed to you the sense is oh that drug is going to work for me but on average what goes on in the FDA process is is um

in phase one we look at safety right and then uh phase two is doing what it's supposed to do in phase three does it do enough of it and what does enough mean if it doesn't hurt anybody but it actually supports 20% of the people why not why not approve it and it does get approved but people don't realize it doesn't necessarily work for them so it's it's crazy I think where where this becomes workable is once you have personalized testing you can do personalized uh adaptation of prescriptions and know that that dosage is right

for me Etc and then you're good right real quick I've been getting the most unusual compliments lately on my skin truth is I use a lotion every morning and every night religiously called one skin it was developed by four PhD women who determined a 10 amino acid sequence that is a cytic that kills scile cells in your skin and this literally reverses the age of your skin and I think it's one of the most incredible products I use it all the time uh if you're interested check out the show notes I've asked my team to

link to it below all right let's get back to the episode let's talk let's go let's go to talk to about space my uh my my pet childhood interest here so uh listen I have to say uh we're going to we're going to be on the moon in a couple years and on Mars before 2030 um and that's exciting you know the the notion I think we're going to see another JFK moment where you know JFK said I I challenge you all to get to the Moon by end of the decade I and bring people

back I think we're going to have a challenge to get to Mars by the end of this decade yeah just thought getting them back part if we it'll make it a lot easier to get there the getting back part is going to be hard I I still continue to think that uh we are bags of water and evolved in a gravitational environment uh doing uh interplanetary travel is going to be very very difficult I think we'll send robot avatars um rather than trying to go out there ourselves but God bless us we're explorers and we

should do that right if you had that mentality you may have never left Europe to find uh India type of thing well another use for humanoid robots boom you know flying cars autonomous cars right cyber taxi drones you I find it amazing one of my favorite drone companies zipline uh that's now a multi-billion dollar company had to go and begin business in you know Central East Africa yes in order because they had a permissive regulatory regime I think this is the other opportunity for the US is to really upgrade its uh kind of regulatory on

a bunch of levels um Emerging Markets can make new rules and I remember in Rwanda they created a three-dimensional tube across the country like a highway and that if your drone stays within those param within that three-dimensional airspace you can do whatever you want right and I think things like that need to be done and then much more aggressively I mean you know when you fly over the US it's mostly empty but most of the time you're not going to hurt anything um stay away from urban areas yeah look out the window when you're flying

across the United States yeah it is all empty space yeah we fly across India where I'm from which is about half the size of the continental US has like five times the po three four times the population and it's freaking empty when you fly across it so it's it's there's huge opportunities to unlock the abundance of terrestrial land which is where I think passenger drones become incredibly exciting um let's talk about the future of democracy so you know in a world in which um things are moving this fast and humans are moving very slow uh

you know how long before our Democratic experiment here gets revamped for a world of AI sensors networks um so can I lift up a level and then back down cuz I actually have been think my community has been thinking about this a great deal right and I come from India where my family was very involved in the independence movement so we've been looking at democracy for a long time the Indian constitution by the way was the most advanced constitution in the world for several decades because those was the newest right and so it could learn

from some of the mistakes in the US and other constitutions we it's the Constitution is like the software that runs a country you need to be able to update it now this is where I have a huge beef with the originalists in the us if you're not updating your software you're pretty much out of date pretty quickly which is kind of where we are in certain ways all right let me just give you the the high level about 10 years ago we were looking at this problem you know my hobby in metaphysics and philosophy and

so on a fellow called Malcolm poly and I came up with an analogy which we called ice water steam okay so imagine you have ice where the molecules are are kind of very cold they don't move very far or very fast they hold their shape right very low energy in the system then you add heat or energy in the system then you get the Liquid now it can expand to the boundaries of the container it's more active more agitation of molecules etc etc but still reasonably slow you add more energy and you get steam which

burns you is hard to contain the molecules are highly active right uh and I we went through a whole kind of series of looking at human endeavor in different ways take messaging we used to send smoke signals or the Pony Express or homing pigeons very local very slow very it was the ice State no nothing moved very far very fast then you went to postal mail which was the liquid state you could send messages around the world it just took a long time and it went to the boundaries of the container then we digitized everything

and now we have tweets um and you and we've totally vaporized our messaging structures right take money we used to trade camels and goats there were seashells again very local very slow then we came up with currencies and letters of credit and then we floated our currencies even more perfect for the analogy then we went to bitcoin and digital currencies and crypto and now we vaporized and digitized uh thing same thing with human organization we used to have Clans or tribes that didn't move very far very fast then we moved to say nation states and

multinational corporations and now we have Facebook groups and online Tik Tok communities right and we vaporize that and the challenge is when I and this came up when looking at the Arab Spring or the Occupy Wall Street movement lots of hot air but nothing St stabled formed out of it and the challenge is in a vapor State stable structures don't form and so as we vaporize and add more and more technology to different domains like money and democracy Etc how do we get stable structures and in the lack of that stable structure we go back

to the old way which is kind of what's happening in various parts of the world so that's kind of like just a broad metaphor for what what's happening in the world and I think an intellectual challenge is to think about what's the equivalent of a fridge right that can cool things down um and so we actually use the ideal gas law as a metaphor for this but we don't need to get into that right now the the the if I apply that par pattern to democracy we've been running democracies at a nation state level for

the last few hundred years and the problem is nation states in my opinion they wrong container they're too big for example nation states can't solve climate change I agree with you the the fact that that our entire Democratic process came down to four states ridiculous right yeah ridiculous or you take India where I'm from there 20 different languages and cultures trying to be one country it makes no sense right so you so what you need to do is granular eyesee and Paul sappire I remember getting on stage a singularity University and said the future of

the the world is not nation states it's city states yeah and actually you look at Trump or brexit is not left versus right it's Urban versus rural you can see that in the in the map from last night very clearly right brexit was 100% London versus the rest of the country that's the tension that's playing out in the world if you have for example now in the future let's say 10 years into the future a city that has vertical farming satellite internet um uh solar energy and small nuclear um water extraction using the water abundance

Prize winner you don't need a country you don't need the infrastructure for a country and so therefore I think we're going to devolve to small community self-determining their future and working at their own structures and then operating in a networked environment uh in a much more powerful way and so that's I think we and in a world of abundance see nation states are really great for scarcity they're terrible for abundance yeah so there's a whole bunch of things different dimensions of looking at this so here's the question right there I think you know the old

saying that we've you know governments you know suck and except you know we' got the best version of what's available today democracy is the worst form of government except for everything else yes got it thank you the question becomes there are better versions there are better versions that are uh easy to describe right we have a representative government today versus we don't have a direct democracy yes that that whole situation but importantly can I just pause you just for a second the reason we have a representative government today because it started 250 years ago well

at the time information was scarce yes exactly DC very slowly SL so if you were in DC you literally had no idea what was happening in California because the speed of a horse was as fast as you could find out so we had a representative hang let me just finish my point you had a representative come across the country and say Here's what my people are thinking this is why we have represent but in a world of this digital where of an abundance of information a representative government doesn't apply and so we have to really

fundamentally rethink our structures from the bottom up so the question becomes is there any way to do this other than a revolution um other than a a starting from a clean sheet of paper I mean the reality is governments and finish my turn don't like giving up power they don't and they have armies and they like up they they do and and they put laws in the books to protect themselves and they buy appropriate you know regulatory leaders to protect themselves and there's better ways but so in the analogy that you and I talk about

a lot which is the you know that every company will eventually unless they disrupt themselves be disrupted by someone else the question becomes where will the disruption come from uh for the future of democracy is it virtual governments is it Network state right another topic I want to hit on at abundance this year is what bology has talked about as the network State yeah where it doesn't matter physiologically where you live it's I have you're one of my peeps I'm one of yours that's right I think so I disagree with the I agree with 80%

of what b g talks in the network State a large Global Community like abundance or Ted or EXO have has a core set of principles and values with its own cryptocurrency can operate as a country in in a very easy way and operate as a network state but at some point you need the physical thing and where I disagree is when in the last bit where he says um all you have to do is get get validation from an existing uh government um and recognition from an existing government which is is that wait a minute

that's just not going to happen in an easy way and and we have that already today we have a lot of digital Nomads that Arbitrage the Puerto Rico income tax versus the Portugal income tax versus Bali and they're moving around depending on whether the regulatory regime is the friendliest I think that's what's going to happen if unless you have an authoritarian country that doesn't let you leave and that will actually solve a lot of the problems in that so I do agree with much of what the network State um talks about where I think things

can be easy is a couple of areas that would be so easy to solve in in federal government one is U um give give preference to local laws rather than federal laws and that's where states rights actually become really interesting down to City rights right Miami is a very very different place than rural Florida so even State doesn't really cut it you have to go down down to the city and local community level so that people have their own value system that can that can repres and the laws should represent them the second is every

time you pass a law at the federal level you should have an end date to that law and say that law and they do this in Germany and they do this in a few places are very powerful and or take aw off the books or take yeah every time you have one you have to take five off the books were overregulation so much right this may be the most optimistic area I'm thinking about if Elon gets in charge of a government deregulation Department it's gonna be fantastic he's just gonna go because his first first princip

his first principal's thinking is going to come to ver and go why do you have to have a barrel of hay in the back of your London cab because you it was there to feed the horse 100 years ago are you nuts just get rid of that crap this is going to be uh the most extraordinary reality TV show ever yes yeah I I I think the department of of government efficiency and then the last the last Point around kind of what we could do now is liquid democracy where you don't you're voting not based

on your geography or based on ideas like you've got so much Advanced thinking and say biotech I'd rather give you my vote on that topic so you make a category votes and say for this anything to do with this I'll go with Lawrence leig on digital rights I'll go with Peter on ethics of Biotech I'll go with Hank gedle of Stanford on to with biotech ethics Etc and so you can just kind of use I thought you gave biotch ethics to me I I just I I double voted I double a beautiful thing right you

know what what right do I have to to to vote on women's reproductive rights when I'm a guy leave it to the women for God's sakes leave it to the women yeah sorry yeah it's quite right so buddy listen I you know I want to wrap this WTF just happened in Tech session uh by saying we're in for a lot of technical acceleration yes I think uh we're and a lot of that acceleration in AI is going to be independent of the government it's going to be uh happening on a on a uh sort of

a corporate a corporate level um I do think the idea of a becoming an infrastructure play right one of the things one one of the things that I took away uh from the you know meeting a lot of government leaders in Saudi is every single government every government is like how do we get us some how do we get how do we get ourselves a national large language model how do we get ourselves a compute infrastructure um and how do we provide it to our entrepreneurs our uh our business owners our students and it will

fundamentally become a infrastructure play just like telefony just like electricity Just Like Oxygen yeah um can I tell you crazy segue here yeah on topic though um you know it would be the simplest thing in the world to take all of our legal law structures and put digitize them and have them AI enabled okay it turns out there's certain laws in various states in the US that are not public and you're not allowed to know the law what yeah no so so there's been a whole mov no it's true you because they've been written by

how do you know if you're not allowed to know well because lobbyists have uncovered the lobbyists have written the laws and they've kind of made it so they're they're somewhat Pride nobody knows about them it's really nuts so it there's a huge effort to be just just to digitize the damn law and get everything into one place would be just a massive thing yeah uh all I is very weird right like like this is where I find the overreach of government to be unacceptable where you're blocking Ubi experiments explicitly blocking you that just blows my

mind or things like this where certain legal structures are not allowed to be public because they're too too they're so toxic that that nobody wants them out there so that's the kind of stuff where I think we'll we'll Shine the Light are you going to change your investment strategies at all uh given this Administration great question probably not much um uh because I'm So Pro Bitcoin can could be hard to go more um within reasonable so uh I'm I'm way more excited about the future of crypto now than I would have been although in the

last 6 months the Harris Biden Administration kind of hobbled the SEC any way around crypto because of as a respons but I think this will go another step further how about you uh I'm just so deep on Tech and crypto and and Bitcoin specifically uh that I don't think I can be any deeper and I'm so overweighted on entrepreneurial startups as well I mean the broad commentary is that technology has been a major driver of progress since the beginning of time for Humanity it might it might be the only major driver progress right now we

have a dozen Technologies moving exponentially the potential upside potential is huge and therefore betting on that is an obvious thing to do at a macro level yeah if you just look at uh the growth of of the Fang stocks you know um it accounts for the majority of of our our nation's capital gains it's crazy yeah I mean it's insane I I'm curious about um what uh other crypto currencies are you going to continue to play I mean I remember back when when crypto peaked in the late 201s everybody was playing in what has euphemistically

be called the shitcoins um you know is it is there a rationale I mean for for you know yeah I believe I I I believe just like we have multiple brands of databases each optimized for various things I think different brands and different styles of crypto for example a crypto or blockchainbased thing that was optimized for Land Titles and property rights would be a different animal and hyperfocused on that particular domain would be very very highly utilitarian for that vertical in that use case right it'd be very very different I was I was buying candy

or using crypto and so I think you'll end up with a spectrum of those you if and we see this in the real world right you see gold and then you see um uh deposit accounts and and cdas and so on CDs and bonds and then you as you get more and more liquid towards the end in smaller transactions say credit card transactions they're very flighty and minor you can have much easier level of fraud but the the use case is different across that spectrum and I think the same thing will happen with crypto where

something like Bitcoin will be used as the store value you'll have something else like based on the lightning Network or something similar for means of Exchange change and to stabilize value so that if your Bitcoin goes up and down you don't kind of go crazy on your value of some microtransaction you're doing um all the way to the very frivolous little things we're using loyalty points for some application I think you'll get the the broader Spectrum but some of the applications we're seeing are unbelievable I just came across one where that you know there's a

problem in banking call settlements so if I owe you $800 and you owe literally $100 and she owes me $400 we can actually settle $400 without moving any money and so if we can operate that kind of a system which would operate at a local city level you it turns out you could drop the cost of capital by about 50% which is huge for businesses and so on so stuff like that can be brought online that hasn't been able to be because the banks always want every transaction going through them because they tax it all

and so now we can kind of unwind some of that that uh uh several hundred EUR old architecture that should be updated all right one last subject here everybody uh so Bitcoin at this moment is at 76,000 it's an all-time high as we're recording this um wish I can go back to myself and uh Mor I put a mortgage in the house a couple years ago but no um here's the question quantum computers there's a lot of Buzz coming out of China right now about being able to break all of the uh all of the

encryption codes I used to believe that no that's not going to happen we're going to have Quantum encryption protecting us against uh against quantum computers and I'm hearing maybe not what are you hearing when I see satoshi's $60 billion Bitcoin wallet hacked then I'll start to well the the point is if you can't Hack That wallet you're long ways away now the I do ALS I also do agree with your point which is that you will have Quantum encryption cryp you know hacking is always a cyber security is always an arms race the bad guys

find some mechanism and when we kind of solve that problem right um and we just go through that just the Cycles somebody breaks Quantum that would be one thing but you still have to solve the distributed Ledger problem which is which is really the Byzantine General's problem which is hard to break and so you might solve the encryption but it doesn't solve the distribut of Ledger aspect which is what makes it powerful a $60 billion x prize for oh God you're you're such a natural hacker yeah amazing all right buddy excited to see you this

weekend yes it's fun Miami it's gonna be fun all right everybody thank you for joining us for this month's episode of WTF just happened in Tech well what just happened in Tech is a new Administration and uh I I'm I'm so curious is Elon going to really jump into the department of government efficiency the guy is running five companies right now and has like 11 kids uh he's going to do that as well I mean I'm just you know listen I I know we both do a lot how the hell does he do all that

he does I keep on asking him he doesn't give me an answer I'm just trying to understand I don't think he knows um I think he's just so driven this goes back to the MTP right so driven by his his massive transformative purposes it keeps the engine going and God bless I mean the the the we've not talked about this but the side of that rocket Landing back and getting caught by the scaffolding one of the most incredibly amazing things that I think has been seen in humanity the biggest the greatest engineering feat of if

not just this decade multiple decades so if he can take that kind of Creative Energy and focus his teams on government deregulation lots of interesting things possible can you fire government employees that easily I don't think so you can they're like unions and stuff like look this is this classic problem in all Society once you get a structure in place you put a motor on yourself whether it's a medical establishment saying You must have a doctor a few years ago they passed a law in Texas saying tele medicine was illegal because you had to see

your doctor if I had a little wart on my skin I mean it's just the most unbelievable uh protectionism that goes on at all sorts of soci TI levels government is just not is one of those things that protects itself first because it can V actually gave me one of the best uh definitions of government I ever came across he said government is an entity that can pardon its own crimes so they steal from you and they call that tax they put you in jail where they kidnap you they call that prison and so they

it pardons its own crimes and that it's able to do that because of the place that it's in and I think that's the the UN the part that needs to be undone because there's so many structures that stop progress by calcifying old thinking teachers unions for example that we the we need to find mechanisms to break that up and break up what I call the immune system problem yeah I know okay so no more C corporations next time I'm starting a government or religion on experiment a little bit more than than that yes all right

buddy a pleasure as always thank you you would my Prophet anytime Peter and you are I think the tech Prophet for many people so hat off love you pal all right well talk soon [Music]