Property AI Report 081 - Rightmove Relegated, Claude Mythos Lands & Apple AI Doesn't

Chapters

00:00 Introduction to Property and AI News
00:38 Rightmove's Relegation from FTSE 100
02:47 Impact of AI on Property Portals
06:33 The Return of the Bruce Brothers to Purplebricks
09:56 Referral Fees in Estate Agency
13:06 Launch of Claude Mythos and AI Developments
21:07 Apple's AI Developments and Siri's Return
25:01 OpenAI's IPO Plans and Market Dynamics
31:41 Gemini 3.5 Live Translate Tool

Transcript

SPEAKER_02 0:00

Hi everybody and welcome to the Property AI Report. This is your weekly digest of all things property and AI. Brought to you by me, Mal McCallion, and my good friend and co-host Matt Goddard. Matt, how are you today? I'm awesome. How are you?

SPEAKER_01 0:12

You've got a dance festival to come.

SPEAKER_02 0:14

Yeah, 100%. So yeah, I'm gonna be rushing off to that um later on. Um but yes, um, before then, we have got a lot to talk about in the property and AI spheres. So let's crack on with our property news. All right, um, first up in property news, the big news that RightMove is being relegated from the FTSE 100. Uh, so this um was confirmed by um it's called the Russell Group, uh, which is uh basically monitors evaluations of companies in the UK um and recommends which um are to be promoted from the FTSE 250 and which are to be demoted from the FTSE 100 down to the 250. Fight Move narrowly avoided um being relegated three months ago um by the skin of its teeth. It was the um because Donald Trump launched the um uh attack on Iran uh on the 28th of February, that actually sent EasyJet down instead of right move um three months ago. But uh this this time out um there was to be no uh reprieve. So right move finds itself um in the uh 250. For the first time, I think since like 2016, so like 10 years or so, it's been in the FTSE 100. Um obviously one of the most profitable uh businesses at 70% margin there as well. Um it has been absolutely battered by various things, including particularly AI, over the course of the last six months to eight months. Um also the 1.5 billion court case. Matt, um pretty big news. This, what's your take?

SPEAKER_01 1:35

It's no surprise, is it? Um sort of, as you say, they were sort of spared almost Everton style from the drop last time around. But uh now, in fact, sorry, totally off tangent, but you've lost your manager, haven't you?

SPEAKER_02 1:48

We have, yes.

SPEAKER_01 1:52

I don't think it's a surprise. It'd be and I I think they're gonna struggle to get back into it, right?

SPEAKER_02 1:56

It doesn't seem to be moving the needle any, any of the things that they've been trying to do. So they've tried to share buybacks as well, you know, various um various other little kind of sops to the city. But yes, um the kind of medium to long-term outlook for their share price isn't um isn't that doesn't it doesn't look like it's getting back to the dizzy heights that it was. And interestingly, it's now kind of uh hovering around the 3.1 billion valuation, which is you know almost exactly half what it was offered um about two, two and a half years ago when REA Group kind of came in and and made an offer, and the board very quickly rejected, I think that they offered like four times, quickly rejected each and every one of them and said that um that they were going to be able to pump the the share price even more. So, you know, it is not uniquely a right move thing, although the the 1.5 billion um court case is. Many other of the large property portals out in the in the wild have also seen not the same but similar drops um of 30 to 40 percent, um so including REA Group itself and uh I think CoStar and various others. So um yeah, the the there has been a repricing of portals as as people have as as investors have looked out and thought, you know, actually, are the prospects for these big businesses as good as they had seemed? And you know, the question is well, were they overvalued before or are they undervalued now? Um I think that as you say, they're that they're unlikely to come back anytime soon. And I think that that's really an indication of of how AI particularly is going to change the way that people are able to discover property. And you know, that's obviously I think good news for for many of the agents that that are out there, many who've of whom listen into this, because I do think that it's going to um mean that in the medium term uh right move is going to become less of a uh less of a dominant force. I think in the shorter term, they are going to continue to ramp up their prices because what they want to try and do is recover some of their share, share value. I spoke to an agent last week on my tour down in the southwest um who was um whose right move rep had floated the idea and almost like as a softening up exercise, uh, that they might uh might increase their prices by 23%. Uh and the rep said, Oh, but don't worry, I'm on your side. It's like, okay, what does that mean? It's probably inevitably we go, it's okay, we've managed to get it to 12%. It's like that's still three times inflation.

SPEAKER_01 4:10

Anyway, what's really interesting, sorry, just because you touched on it there. I was on the call with uh Neil Campbell of Liston Logic this morning, chatting about various bits and pieces, and and he was reporting that the REA groups dropped dramatically again in the last the last week, and as you touched on the portals around the world near perfectly actually given you said 40%. REA in the last six months dropped 41%, and then they're down at 147 at the moment. So that'd be cents, wouldn't it, rather than pens. But I that what they're doing in uh in just the REA is actually going after the uh digital marketing spend. So they're really pushing for Facebook and Instagram, which obviously from an agency point of view, that's your first party authority, that's your you know your domain where you are controlling that content. And if you start giving that away to the portals on top of your listings, you're giving away all that social economic data that really lets you be that that first uh first party authority on those things. So it's uh it's interesting to see they're going after that. Because I know there's still agencies out there who don't have a website, they have a landing page and then direct people to write move for search, but don't go away. Your data's your your fuel, it's your your money, don't don't let that go.

SPEAKER_02 5:18

Yeah, and and I think what we'll see more and more, um, just like RA group down there, I think Hemnet over in Sweden's got some new products and services that it's trying to fire out as well. Right move over here, you know, one of the big kind of um uh big things that they used recently to try and shore up the share price was how big they're growing in mortgages. So, you know, their mortgage um the mortgages have more than doubled, I think, in the last couple of years. Um it's more than tripled in the last couple of years. And and that's basically because, you know, obviously they're they're now um intervening in agents' potential revenues, right? You know, not only are they costing agents more much more money, they're also now um actually going after the the kind of revenues, the the the additional revenues that agents could earn. So yeah, I think it's um it it's Max it also speaks to to the kind of desperation that that I think these these portals are uh are finding themselves in the situation of, um, and I think it's gonna continue. But yeah, more and more. I think um uh people are gonna agents are going to particularly have to look at how how much they pay for what portals, and yeah, I think that um it's probably going to be a very different world, I would suggest, in the next uh year to 18 months in terms of um of what you can do on a portal for sure. All right, um, next up in our property news, we've got the Bruce brothers are back at Purple Bricks. So this has been formally confirmed after the kind of I think the sort of um all the gossip that came up a few months ago about whether they were going to come back or not, uh rumours in March. But um but yes, they are now um uh firmly um back and ensconced in uh in the bricks. Michael Bruce saying, My brother and I are delighted to return home to the business we founded and are excited to work with Sir Charles Dunstan and the Purple Bricks Dream to drive and success and build market share in the UK housing market. So just um to recap, they spent £197 million trying to build a business, got that all that money from investors, um, and then in the end the business was sold for a pound to to Sir Charles Dunstan and and strike, um, which then rebranded as Purple Bricks. Obviously, they've got there is some plan here. Um I think it's gonna be interesting to kind of see what takes shape. Um Matt, have you got any uh any ideas on how this is going to be different to the last time?

SPEAKER_01 7:22

Well, I I think it's not a shock at all, right, first and foremost. I do wonder what's gonna happen with the agency UK given the sort of the positions in there, albeit as a non-executive director, like will there be a a coming together and a and a relaunch of that business in on that front? And uh obviously as you've highlighted a number of times before, what's what's gonna happen with that tech that came out of Bumming? Let's say like sort of sort of caused some question marks about how how it all worked and is that gonna rear its head again as part of this this process?

SPEAKER_02 7:50

Yeah, so yeah, I I mean I would suggest that they um would absolutely be using all these kind of tools that they've kind of built up over over time. I I imagine that the core argument is gonna be the same or the core pitch is gonna be the same, which is you know, um estate agents are ripping you off. Um I would be astonished if they didn't uh revisit comisery at some stage as well. It is, you know, something of a um I don't know, do you call it a shame? So obviously a lot of booming was predicated around essentially the Bruce Brothers saying, We're really sorry, we didn't really mean it with purple bricks, and now they it remains to be seen whether that that that apology is actually true or not, and whether people were right to kind of um shun booming um in the end or agents were right to shun boom in the end because yeah, it turned out that actually it wasn't necessarily something that they were really committed to and they are going to go back after estate agents again. Um but yes, it's going to um be interesting to see how it all pans out because Purple Bricks, in its current guise under strike under Sir Giles Dunstan, has tried a number of different um business models, it's gone free, it's kind of gone very, very, very, very cheap. Um it's gone a little bit more expensive. It's so it's it's obviously been flailing around a little bit. Um I do see the odd Purple Bricks sign up and about um around as I drive around. But uh but yes, I I don't see I don't see sold ones, I only see ones they've got own it, which is their their kind of for sale uh board. It says own it. Um yes, so it's it's obviously an A bit of a depressed state right now, but um yeah, it's gonna be interesting, I think, to see where they target, because I don't think they can go fully national um unless they've um unless Charles Dunstan is willing to absolutely put um virtually all of his um fortune into it. Um and yeah, how hard they go, uh you know what what the marketing message is gonna be if it's not gonna be um anti-estate agent. One of the interesting things actually um about Charles Dunstan is he has he is on record as saying that he wants to destroy estate agent. So that's nice then. Yes. So off he goes. All right, so that's um our second news in property. Third one is about our referral fees. So this is um there was a report um about a week or two ago, actually, that um that legitimate reasons for people using referral fees. So to recap, the BBC, I think it was, did a big um a big scandal about um Connells, particularly, um, and the tie-ins from mortgages and conveyancing um and the fact that uh referral fees were paid by by the the suppliers to the agency for the referrals. And it was made out that this was absolutely a complete and utter scam and scandal and all that sort of stuff. But actually the kind of tribunal came back later and said um in in the last few weeks and said, uh no, actually that's fine. You know, consumers are kind of they get it, they understand that that's probably what's going to be happening. So um, so yeah, as long as it's clear and it's it's there and people know about it, then it's it's fine. Um and then this week there was um a lot of talk about basically how conveyancers really should use their estate agent as referrals, because essentially um consumers don't tend to argue with whatever those referrals are. So I think it was um one in four buyers um uh use um so let me get the exact figure. I think twenty sorry, twenty-five percent discover their conveyance following a recommendation from friends or family, and um they said that this so this is Lions Bow solicitors a third of buyers, nearly a third of buyers choose a conveyance are recommended by their estate agents. Okay, so between those two, obviously over 50%, but a third is pretty punchy. So um that really kind of plays into obviously that the role of agents in that recommendation moment. Matt, this is something that kind of has been kicked around for a little while in terms of how astonishingly bad it was, or you know, how it's entirely fair. What's your take? It feels like it's been around for decades, doesn't it?

SPEAKER_01 11:31

I don't know specifically when I stepped out of the the green yellow of Foxton's and started talking to more agencies and like is it countrywide when it floated 50p and the pound was made through referral fees? I think the key part that's brought out as part of this CLC, the Council for License Conveyances uh report was the the transparency. I know mortgage brokers are certainly a lot better. I had remortgaged recently and it was in the documentation and and everything else, but uh it's it's there's a bit of fear, and but there's obviously a lot of money goes in all the different directions to make sure that the you'd hope the service levels were were factored in there. But also if you're buying your house once every seven years, you you may not know who to trust and who to work with. And um obviously if someone's getting some referral fees, then they've got a lot of weight with in the relationship and they can make sure that hopefully again the clients are getting the the service that they would expect as a continuation because if you've referred someone, you're the one that gets the kick in as much as the person not doing the job.

SPEAKER_02 12:26

Yeah, exactly right. And and and as a potential buyer or or whatever, you all you want is for it to go through. You know, you kind of made the emotional decision. Now it's just like that's gonna cost me an extra 100-150 quid, don't really care, just let's get it done. So yeah, I think it's um what I think it does is just hopefully for now clears it up because it keeps kind of coming back, as you say, sort of as an i as as an issue. Um but yes, hopefully it just kind of puts it to bed for now and yeah, it just goes to speaks to the fact that agents are very central to to the kind of lives of conveyances, and one would hope that as a result of that actually they might speed things up. We shall see. All right, that is our property news this week. Let's dive into our AI and tech news. Well, it's here, isn't it, Matt? You're gonna get the name right. Claude, I'm gonna say mythos because we've been talking about mythos for ages, including the Greek Greek beer. So Claude Mythos models are here. So Claude Mythos 5, and it's slightly uh paired back and safe version, which is called Claude Fable 5. So really exciting news, dropped yesterday, and uh yes, I've I've managed to kind of play around with it a little bit more in Claude design, so it wasn't kind of I didn't really experience it, it's kind of true power, but um the the benchmarks which are intended to give us mortals a guide as to how clever all this AI is, have jumped significantly with the launch of of Fable. So, yeah, Matt, what's your take? How excited are you?

SPEAKER_01 13:50

For those that didn't see my post, I got Fable 5, Fable 5, Fable 5, didn't respond, and then suddenly Fable 5, Fable 5, Fable 5 from Mal earlier this week when this launched. And I think before we get into the details of just how powerful it is, there are some some question marks in terms of Mythos has been released, it's gone through Project Glass Swing, which to recap is a is a small subset of the world, so 40-50 companies, including the American government, to put look at it, test it, look for all those zero-day vulnerabilities that um Anthropica's scared about. Asking that question of was it a marketing campaign to scare the bejesus out of us all and then stuff uh doing it? But now what we've got is a really paired back, clipped version, which is Fable 5, and it's to the extent that if you try to do the two things that Anthropica are worried about, which is around biology, so you can't create biological weapons and and cyber security, you'll get a no and get kicked over to 4.8 opus 4.8. There's that well, who's making that decision that these 50 companies in Glasswing can kick on with Mythos 5 and the rest of us mere mortals are are are left with with Fable Five. And that that's the first time this has happened, right? Certainly the the m in terms of public. My model labs have always we think have got a conveyor belt of new well-trained uh models ready to go, but now they're publicly doing. I think the other part, so you I got the WhatsApp from you, I got home, I I opened up Claude's um, and there was this beautiful splash screen, which I think I sent you with butterflies.

SPEAKER_00 15:21

Yeah, it's lovely.

SPEAKER_01 15:22

Uh you you referred to it as something that was quite old-fashioned, I can't remember what it was. It was the talk talk song, wasn't it?

SPEAKER_02 15:28

For those old enough to remember, it was they're very similar to the the um cover of the LP from Talk Talk, Colour of Spring, with little butterflies in it.

SPEAKER_00 15:35

But anyway, as for the old people, just tell me. Do pictures of you as well. That's a different No, they did um Life's What You Make It.

SPEAKER_01 15:42

There you go. But so so the announcement, the splash screen as you got started announcing Fable 5 was here, we're saying it's here until the 22nd of June. So like use it as part of your subscription, crack on, fill your boots, enjoy yourself. But from the 22nd of June, it won't be. And and in the I didn't capture the screenshot properly, but something's happening on the 22nd of June. I expect it'll be a Page Your Go model, and we'll have to start paying for the token. So it's really is giving us that that taster, and then then trying to wean you off it afterwards. Like like the lad in train spotting, and it's like the the drug dealer strategy, right?

SPEAKER_02 16:17

Exactly.

SPEAKER_01 16:18

But but to to ignore all of that stuff, it's it's great. I think when we've had the recent Hitler releases, and it's like 4.6 and 4.7, 4.8, and maybe even similar on the chat GPT front, if you're not using Codex as the harness, it's like, well, can you really tell the difference? And I I listened to some things after you'd messaged me, and it's people saying it's almost too clever, and people who are writing say product designs, oh it it the it was coming back as a that that really intelligent person at the party and knows they're intelligent and sets out to make you all really confused. It was generating documents that Opus would have generated which just made sense and was exactly what you wanted, using the same prompts was coming back with just too much detail. Right. And and like not the intelligent person who is just trying to help you understand it, it's just like here's a load of stuff you won't even understand. Whereas my experience of it, I've had a of a couple of specific ones. I I wrote the I wrote the post the other day using it and it was rapid and it came back and it was uh succinct. I didn't have any of that real intelligent stuff. The one that really caught me just last night, absolutely, I've done an amazing tour around Berkshire visiting all the prospect offices, and I I got home and I've got a an a CRM sent me their new API to review, and I've got a a client who wants to integrate with it. So I was like, well, can you build me a real real simple problem? Can you build me a spreadsheet with all of the API endpoints, every field that's in there, and a sort of a a Moscow rating, which means must, should, could, would, as to whether we should use that those fields as part of the integration. And not only like I gave it very scant detail, I think I alluded to who the supplier was. And when I came back, it actually researched who the supplier was, researched what their product lines were, researched the API, pulled all of that back, and then done a must based on what product lines should be addressed first. So it wasn't just normally what would happen is it'd go off, scrape it, pull back just the the the l literal rows of information. This had done research on top of research on top of research, which I probably would have got to after my maybe the second or third meeting, but it was just all there in a spreadsheet. It was like, well, my work here is done.

SPEAKER_02 18:25

Yeah, yeah. I and the this is the crazy thing, and obviously that's part of the tour that I'm doing right now. You know, we'd we'd go deep into, you know, actually play around with some open clause, so actually AI agents and things like that, and they're all underpinned by Claude at the moment, and and I haven't shifted them on to Fathom. That's Fathom. Fable, Fable 5, not Fathom V. And yeah, and it's it's it's almost it's so so so clever. Even if they stop like at Opus 4.8 or even probably just Opus 4. There's so much in there now that is so good that actually it's going to change everything anyway. So the fact that it just keeps getting better and better and better. And you know, do you talk about the kind of coding benchmarks? You know, Opus 4.8 was at something like 60 odd percent, this one's at 80% or something. You know, that's and that's sweet bench is it's it's insane. Um, yeah, this this is getting very, very, very um uh very smart, very independent.

SPEAKER_01 19:15

It is it is, however, spendy, isn't it? Yes, it's more expensive.

SPEAKER_02 19:19

Expensive, twice as expensive as Opus.

SPEAKER_01 19:21

And also that volume of reasoning that it's doing means that it's running for uh through those tokens, is absolutely blitzing through those tokens, which means it's twice as spendy, but also you use a shed load more tokens. But the question is, as that one that I just sort of talked about, that use case, how how many hours would I have spent like just going absolutely I've reviewed this, now can you do this? The fact that it went off to that depth of reasoning, I think I'd be quite happy to spend those tokens if it just means that I end up with the a better version of what I probably would have done myself rather than iterating through and wait spend wasting my time spending my time doing it.

SPEAKER_02 19:54

Yeah, and and I think what what's what's going to be the next thing, and this is certainly something we're looking at right now um within our business, is is is which type of model do you deploy for which tasks? So if it's a really basic kind of you know, just sort of sorting task, then you can use one of the real cheap kind of um almost some of the open source models. Um but if you want something really, really kind of as you said, the sort of the strategic stuff or the real kind of deep dive, then you'll go to one of these more expensive models. So I think what's going to happen is you're gonna be using these harnesses, whether that's open claw, whether that's um one of the others, to actually kind of have differently intelligent AI agents or AIs, where actually you call on them to do different stuff and you'll actually kind of ping them uh you know through Telegram or through whatever uh messaging um app you're using to converse with them. Um and I think that's gonna be the almost the next skill is actually making sure that you deploy the right level of intelligence for the task that you are looking to get done. Because it may be that actually you didn't need to do all that in um that that research and you would maybe not have got to everything because you didn't think it was gonna add enough value. Um and I think that's gonna be the kind of the the one of the key differentiators as we kind of move through the rest of this year into next. All right, that is um the big news of um Claude Fable's launch and the arrival of Mythos. We also had um uh the rearrival of Apple Intelligence this week. So um, as we spoke about briefly last week, um Apple had their worldwide developer conference this week. And yes, one of the big announcements was that Siri AI is coming back again. It was all a little bit familiar, wasn't it? It was all a little bit like and it's it's actually not coming until like the end of the year for a start, and then just only on certain uh phones for a start and certain MacBooks and certain uh certain other things. And and it kind of you know, have it they messed this up three years ago and with Apple Intelligence that that kind of never arrived. I was quite bullish about the fact that they couldn't mess it up again. Uh the share price dropped about two percent on the on the announcement.

SPEAKER_00 21:57

Is that you just pulling your shares? throw my throw my MacBooks away.

SPEAKER_02 22:01

But yeah, so it's um so yeah what what's your take Matt?

SPEAKER_01 22:05

I think underwhelming has to be the key, right? And then I think you've hit the nail on the head. They've had these billion dollar lawsuits where they're having to pay out because Apple Intelligence needed you to buy the new iPhone and then never delivered and and now there's certain features that will only work if you've got Apple Intelligence on them. So I'm sorry, we've got the latest iPhone 17 or 8 or whatever it's up to. So it's a dangerous thing. I think there are elements of it. There was a sort of spatial maps view that really sort of stood out if you're new to an area and you and you want to get a good feel for it before you sort of uh venture out into the streets. There's the visual intelligence where you could take a a photo of a sort of a quite a complex calendar appointment or a picture and it would pull out the calendar say for example a concert ticket and it would pull out the the date and time and venue and that sort of thing. So I guess doing what Apple does do well which is thinking about the situations where you'd need to use those AIs within the hardware. And I think that's where it crossed over and I I I'd getting the term wrong but there's the one where within the camera function you could take a photo of me and Mal as we are now and then and change the perspective from within it so you're regenerating your AI on the fly and then it's starting to cross that line between hardware and and software. And like a lot of people say so so for example you could say you know take take a photo and then say you know pop pop Mal in in Euro Disney or whatever it is and then generate all those different ones from different perspectives and and everything else. But it's like well did Mal actually go there and and I just want the camera to take the camera camera pictures. I don't want it to be using AI but that's sort of losing the point in to an extent because these things are all you can choose to use them. You don't have to do it. It's a bit like changing your photos black and white you don't have to do that.

SPEAKER_02 23:44

It's just an option that's available in that camera right yeah yeah so I d and I think like you say that there was there was these kind of like small things that sounded pretty cool. Again they're not ready yet they're kind of coming down the track and it's a bit kind of like well okay tell us when it's when it's there and we can kind of get involved but uh but yes I I it it felt like a real moment of opportunity that just kind of went went away again and it's kind of crazy to to to think that um that that they may have you know again oversold what what was coming and then at delivery time it's kind of like oh yeah but actually it's kind of a little bit the same as before. That being said, the fact that AI is going to be available in Siri, assuming that it is good AI, you know, that it's based on the Gemini model so they've kind of distilled that out into Siri AI, it's going to bring AI intelligence to to the masses, right? You know, there's 2.4 billion or whatever iPhones there are out there. It's that that that's a lot of um a lot of people um who have who are part of the ecosystem right now they may not all obviously have the iPhone 17 or whatever you need and but certainly in the next upgrade or the upgrade after that then they'll probably have access to this kind of stuff. So I do think it has the potential let's leave it to a potential to be huge and but it remains to be seen um about delivery. We will obviously um have a few words to say on it when it does finally arrive. All right next up we are going uh into the world of open AI makers of ChatGPT and they have filed a confidential submission to the um securities and exchange commission over in the States to um basically go public so to IPO really interesting one uh um particularly coming hard on the heels of SpaceX which is supposed to um go uh in the next few days and which has obviously X AI inside it that's Elon Musk's one and also Anthropic has filed um last week for the same thing. Matt, who's gonna win the race? Who's gonna get there first?

SPEAKER_01 25:30

Well everyone was saying to open AI that is they're saying we're not planning on doing it anytime soon but we're we're just doing this so that so that we're ready in this case of is that right and then I think what's going to start happening a bit on on the uh the follow-on from Fable 5 and I'm pleased I thought that through because I was going to say full Fab and five but I'd like I I expect they'll probably bring ChatGPT six out in in a matter of days and they've had it waiting and now it's like bang. And I think there's been some tweaks to that effect. It's like we're pretty comfortable with where we're at but it's gonna be are they all doing this as positioning for their IPO and like what's what are they releasing something because it's ready to be released and it's but is it part of the strategy to see see who goes first. I think SpaceX obviously Q1 and then I won't be surprised chaos theory like if the other two just all arrive at the same time.

SPEAKER_02 26:17

No it's it's so funny it's it's almost like a No no don't look over here it's fine you know don't don't look at us it's like the whole kind of sort of poker playing God I haven't got good hands no and then suddenly the what openAI is hoping I imagine is that anthropology go, oh right, fine, actually let's just chill because they're not gonna do it and so they can get inverted because it is the Yeah da da because right that there is only a finite amount of money out there. You know there's a lot but it's finite and SpaceX is scooping up um is going to scoop up a bit of it. Obviously they're first out of the box and there's a lot of um a lot ready to go and but that's that's more for the kind of spacey bit than it is for the today necessarily I think tomorrow is it today or tomorrow we're recording this on the June the 11th so I think it might be going on the 12th. You may be right. But yes so it's not as pure an AI play as Anthropic versus open AI will be. So it is the case that whoever gets there first is likely to cream off most of the cash that is freely available. So yeah I I think that that that Anthropic's kind of in the lead it's it's it's kind of filed all of its stuff and I imagine they're going to go as soon as they possibly can because the last thing they'll want is for AI sorry open AI to to kind of sneak in and just get ahead of them.

SPEAKER_01 27:22

Are you finding that date is that what you're doing right it it it says today and tomorrow but it looks like the Motley Fool is saying tomorrow now.

SPEAKER_02 27:28

Okay. All right.

SPEAKER_01 27:29

So yes we will obviously um let you know just how many trillions um Elon has made from the SpaceX float um on Elon I was quite excited this week to see you actually announce how these data center in space are gonna look when you file these initial designs for it. Yeah go on describe tell us tell us build a word picture. So so oh no I'll just wave my hands around so that those who do actually watch thanks Dad can see what I'm talking about. But it's I think I'm taking a step back it sounds insane this idea of putting data centers in space but it sounded as insane when he talked about putting broadband in space right and now we did the pod before I did the pod before last using Starlink. And so you know those things are rattling around out there beaming broadband that's better than we I'm getting here in central London.

SPEAKER_02 28:13

Yeah and things things like m making um yeah um making electric cars cool everyone was like that's never gonna happen and Tesla is a testament to that as well.

SPEAKER_01 28:22

Sorry no no no and there's and he's now he's he's got his plans put a million AI satellites in space so the data centers and wearing other ideas about you know every new build will have a data center on it and um you know various Airbnbs will have them and that sort of thing. But it it's achievable and his designs are you know quite when it comes to infrastructure and hardware unfortunately you know the guy is pretty decent at it. And the the designs make sense it's and it's not that absurd to think who's done it before they just repeat that trick again. And so so it's got things like you know obviously it's there's no way of dispelling heat out there because there's no no atmosphere so it's like the design is done so there's very very very minimal edge so that the it's got sort of getting all its electricity and energy from the sun but also not getting heated up by it. So it's it's well thought through he's obviously got some clever people on it and I I I won't bet against him on this.

SPEAKER_02 29:13

Yeah 100% so yeah that's um that's going to be some some really interesting I saw um another article again going deep geek um about China um and they've actually got some underwater wave powered and wind powered um data centres now and because again underwater obviously the there's a natural cooling and water is one of the most scarce resources for all these data centers as well. So so they've got that technology which actually apparently this is again so geeky was developed in Scotland originally but we haven't developed we haven't developed any of that sort of stuff going on. It's now um yes China is is is running away with that as well. So yes data centers one of the big kind of bottlenecks for um a mass adoption of AI or certainly AI as much as we we all want and certainly to keep it within cost and um cost effective ways that is that there's a lot of attention a lot of work going into that. Digressing next up we wanted to go back to open AI because they and the Trump administration have apparently been having secret talks over the last year or so about possibly the American government taking a stake in open AI. Now that's um that's kind of it's really weird because obviously you know the the the US Republicans are very much sort of like to the right at some call far right and what they are focused historically on is is very kind of almost conservative with a small C, you know not this socialist kind of ownership of you know collective ownership of of private companies and stuff. So I was it just seems really weird that they're kind of talking about doing this. And if they're talking about doing it with open AI, are they going to make sure that they do it with Anthropic as well? I mean where does it go?

SPEAKER_01 30:41

Well you know what about SpaceX is it's IPO in as well it's you're you're right it's um it very much sounds like something that Bernie Sanders has been banging on about over there. It's it's it comes back to your thing about Scotland though and the cooling like quite a lot of the really advanced AI started in the UK and then we've not held on to it and when they they move on they're moving offshore and we've seen this with entrepreneurs and businesses before haven't we like they they head off to the US because they they're getting set up better over there. But um the the fact that it just feels like you know Trump trying to grab hold of some of these and forming a public wealth fund to to sort of in use it as an investment we saw is it Norway did really well obviously Qatar have done really well with those those sort of opportunities with oil and it's now okay so well let's do the same with with AI because we know the American economy would be tanking if it wasn't for those companies really dragging it through.

SPEAKER_02 31:27

Yeah it's it's a huge part of the um the the the the uplift in um the the GDP particularly over the last uh the last couple of years so yes um and getting a stake in it could kind of potentially make sense but it's it just seems very strange coming from the uh the governing party that um puts quite a lot of store in private enterprise rather than public um ownership brilliant well that is our AI and tech news this week let us talk now about our tool of the week um all right matt um this is one of yours which is Gemini 3.5 live translate um so have you had a play around with this I've not because I can obviously understand all those languages myself anyway but uh I dropped it in just because it it's been released we've talked about I've currently got my airpod in in my ear and we've had uh you had to with Apple you had to have certain set of AirPods and certain phones be able to do their live translates with Gemini did come into the uh Google Meet and to be able to turn that on and I know my developers use it often to understand my Grinvarian tones.

SPEAKER_01 32:25

But now it's I've been deploying it for years. Exactly and now it's available in Gemini 3.5 on your phone so you can actually use that when you go on holiday and it seems fitting timing with the summer upon us really you'll be able to use it in Albania in your dance festival.

SPEAKER_02 32:38

I will be yeah excellent one of the use cases I keep thinking about for this is if you've got your your airpoint or whatever on my way before I go off to on holiday I'm gonna get my hair cut on my Turkish barbers down the road and they're always chit chatting each other and I just wonder somebody anybody listening out there who's who's going to get their haircut Turkish barbers I've just yeah pop some of these in and just kind of actually you can then hear them talking about I don't know how rubbish your hair is or whatever. But uh but yes they definitely do that to me. Yes you may not find yourself there any time soon all right that is all of our news for this week thank you very much indeed for listening in uh we'll be back again next week with even more property and AI news. So um until then have yourselves great weeks great weekends and we'll catch up again in seven days. Take care everyone