{"version":"1.0.0","segments":[{"startTime":0.05,"endTime":3.68,"body":"Artificial intelligence is changing"},{"startTime":0.05,"endTime":3.68,"body":"the face of private equity, and we're"},{"startTime":3.68,"endTime":8.32,"body":"gonna find it all about today's amazing"},{"startTime":3.68,"endTime":8.32,"body":"special guest, Lindsay Guzowski."},{"startTime":9.03,"endTime":12.66,"body":"Welcome to the Artificial Intelligence"},{"startTime":9.03,"endTime":12.66,"body":"Podcast, where we make AI simple,"},{"startTime":12.72,"endTime":15.93,"body":"practical, and accessible for"},{"startTime":12.72,"endTime":15.93,"body":"small business owners and leaders."},{"startTime":15.99,"endTime":18.99,"body":"Forget the complicated T talk"},{"startTime":15.99,"endTime":18.99,"body":"or expensive consultants."},{"startTime":19.11,"endTime":22.08,"body":"This is where you'll learn how to"},{"startTime":19.11,"endTime":22.08,"body":"implement AI strategies that are"},{"startTime":22.14,"endTime":25.44,"body":"easy to understand and can make"},{"startTime":22.14,"endTime":25.44,"body":"a big impact for your business."},{"startTime":25.44,"endTime":27.655,"body":"The Artificial Intelligence"},{"startTime":25.44,"endTime":27.655,"body":"Podcast is brought to you by"},{"startTime":27.655,"endTime":31.015,"body":"fraction, a IO, the trusted partner"},{"startTime":27.655,"endTime":31.015,"body":"for AI Digital transformation."},{"startTime":31.075,"endTime":34.765,"body":"At fraction a IO, we help small and"},{"startTime":31.075,"endTime":34.765,"body":"medium sized businesses boost revenue"},{"startTime":34.795,"endTime":38.965,"body":"by eliminating time wasting non-revenue"},{"startTime":34.795,"endTime":38.965,"body":"generating tasks that frustrate your team."},{"startTime":39.055,"endTime":43.105,"body":"With our custom AI bots, tools and"},{"startTime":39.055,"endTime":43.105,"body":"automations, we make it easy to"},{"startTime":43.105,"endTime":44.52,"body":"shift your team's focus to the task."},{"startTime":44.76,"endTime":45.6,"body":"That matter most."},{"startTime":45.6,"endTime":49.86,"body":"Driving growth and results, we"},{"startTime":45.6,"endTime":49.86,"body":"guide you through a smooth, seamless"},{"startTime":49.86,"endTime":53.49,"body":"transition to ai, ensuring you avoid"},{"startTime":49.86,"endTime":53.49,"body":"policy mistakes and invest in the"},{"startTime":53.49,"endTime":55.47,"body":"tools that truly deliver value."},{"startTime":55.5,"endTime":56.61,"body":"Don't get left behind."},{"startTime":56.64,"endTime":58.02,"body":"Let fraction aio help you."},{"startTime":58.02,"endTime":60.09,"body":"Stay ahead in today's AI driven world."},{"startTime":60.27,"endTime":60.93,"body":"Learn more."},{"startTime":61.08,"endTime":61.74,"body":"Get started."},{"startTime":61.77,"endTime":63.75,"body":"Fraction aio.com."},{"startTime":66.434,"endTime":70.064,"body":"Lindsay, I'm so excited to have you here"},{"startTime":66.434,"endTime":70.064,"body":"because we've had some guests in the past"},{"startTime":70.064,"endTime":74.004,"body":"that are in private equity and we talk"},{"startTime":70.064,"endTime":74.004,"body":"a lot about how they audit AI companies"},{"startTime":74.004,"endTime":78.254,"body":"and sniff test because it's five years"},{"startTime":74.004,"endTime":78.254,"body":"ago if you said NFT, you got money now."},{"startTime":78.314,"endTime":80.474,"body":"Then two years ago if you said"},{"startTime":78.314,"endTime":80.474,"body":"meta, you got money, and now"},{"startTime":80.479,"endTime":81.649,"body":"it's as long as you say ai."},{"startTime":81.649,"endTime":84.379,"body":"We're even seeing companies pretend"},{"startTime":81.649,"endTime":84.379,"body":"to have AI and get funding and"},{"startTime":84.379,"endTime":87.889,"body":"they're just showing that it's just"},{"startTime":84.379,"endTime":87.889,"body":"a bunch of VAs in a call center."},{"startTime":87.889,"endTime":92.059,"body":"So I'm really fascinated by how you"},{"startTime":87.889,"endTime":92.059,"body":"sniff test, but also yeah, how you're"},{"startTime":92.059,"endTime":94.519,"body":"actually impacting AI in your approach."},{"startTime":94.999,"endTime":98.389,"body":"Because one of the things I've"},{"startTime":94.999,"endTime":98.389,"body":"noticed, and I know this is"},{"startTime":98.389,"endTime":100.909,"body":"happening a lot in the hiring space."},{"startTime":101.149,"endTime":103.459,"body":"If you post a job on LinkedIn and"},{"startTime":101.149,"endTime":103.459,"body":"you say remote, you're getting"},{"startTime":103.459,"endTime":106.219,"body":"600 applicants that're all AI"},{"startTime":103.459,"endTime":106.219,"body":"generated within 10 minutes."},{"startTime":106.744,"endTime":110.884,"body":"And I have a feeling something similar"},{"startTime":106.744,"endTime":110.884,"body":"is happening with people blasting out"},{"startTime":110.884,"endTime":114.784,"body":"pitch decks on autopilot in private"},{"startTime":110.884,"endTime":114.784,"body":"equity and in investing spaces."},{"startTime":114.784,"endTime":118.984,"body":"And it's like my AI will write the"},{"startTime":114.784,"endTime":118.984,"body":"pitch, then your AI will read it and"},{"startTime":118.984,"endTime":121.834,"body":"it's like there's no human involved and"},{"startTime":118.984,"endTime":121.834,"body":"I'm really interested in all of that."},{"startTime":121.834,"endTime":123.094,"body":"So just take it away."},{"startTime":123.994,"endTime":124.294,"body":"Yeah."},{"startTime":124.294,"endTime":125.299,"body":"Thank you for having me here."},{"startTime":125.374,"endTime":127.204,"body":"I'm really excited to"},{"startTime":125.374,"endTime":127.204,"body":"chat through all this."},{"startTime":127.304,"endTime":129.584,"body":"I completely agree with you right now."},{"startTime":129.644,"endTime":134.584,"body":"AI is the hot buzzword and one of the"},{"startTime":129.644,"endTime":134.584,"body":"really interesting things with the"},{"startTime":134.584,"endTime":140.664,"body":"Crucible is, we do leadership assessment"},{"startTime":134.584,"endTime":140.664,"body":"for private equity and engaged in"},{"startTime":140.664,"endTime":142.614,"body":"the diligence from that aspect of it."},{"startTime":143.274,"endTime":145.194,"body":"When we constructed our base model."},{"startTime":145.659,"endTime":149.319,"body":"We used a lot of machine learning"},{"startTime":145.659,"endTime":149.319,"body":"techniques, but we're very explicit"},{"startTime":149.319,"endTime":151.089,"body":"that it was machine learning and not ai."},{"startTime":151.479,"endTime":153.909,"body":"And people kept saying if you"},{"startTime":151.479,"endTime":153.909,"body":"just call it ai, you'll get more"},{"startTime":153.909,"endTime":157.329,"body":"money, you'll get more investment,"},{"startTime":153.909,"endTime":157.329,"body":"you'll get more people interested."},{"startTime":157.749,"endTime":162.789,"body":"We were like, yeah, but it's"},{"startTime":157.749,"endTime":162.789,"body":"disingenuous and also fairly convinced"},{"startTime":162.789,"endTime":166.929,"body":"that, 80 plus percent of what people"},{"startTime":162.789,"endTime":166.929,"body":"are throwing money at with an AI tag"},{"startTime":166.929,"endTime":171.489,"body":"on it is not going to pan out, and"},{"startTime":166.929,"endTime":171.489,"body":"we didn't wanna be a part of that."},{"startTime":172.254,"endTime":174.714,"body":"Bubble that was going to"},{"startTime":172.254,"endTime":174.714,"body":"be thrown to the side."},{"startTime":175.584,"endTime":179.604,"body":"But what is interesting is that there"},{"startTime":175.584,"endTime":179.604,"body":"are unique and creative ways that you"},{"startTime":179.604,"endTime":185.664,"body":"can use AI to supplement, augment,"},{"startTime":179.604,"endTime":185.664,"body":"and improve a lot of these products."},{"startTime":185.664,"endTime":188.934,"body":"Even when we're writing our code,"},{"startTime":185.664,"endTime":188.934,"body":"we've used some AI to help us"},{"startTime":191.349,"endTime":193.644,"body":"do that in a faster way."},{"startTime":194.334,"endTime":195.984,"body":"We've gone."},{"startTime":196.914,"endTime":200.304,"body":"One of the things that we said"},{"startTime":196.914,"endTime":200.304,"body":"when we pioneered this project was"},{"startTime":200.304,"endTime":203.604,"body":"that we didn't wanna be coaches."},{"startTime":204.084,"endTime":205.044,"body":"We're data people."},{"startTime":205.104,"endTime":206.754,"body":"We're excited about writing a software."},{"startTime":206.754,"endTime":208.554,"body":"We're excited about the diligence side."},{"startTime":208.554,"endTime":210.294,"body":"My background's in private equity."},{"startTime":210.804,"endTime":212.184,"body":"I'm not a career coach."},{"startTime":213.114,"endTime":218.694,"body":"And so in finding insights for"},{"startTime":213.114,"endTime":218.694,"body":"leaders and teams, while we have"},{"startTime":218.694,"endTime":221.574,"body":"phenomenal insights, the so what of it?"},{"startTime":221.824,"endTime":222.994,"body":"We can produce the reports."},{"startTime":222.994,"endTime":223.984,"body":"We do those things."},{"startTime":225.319,"endTime":229.189,"body":"We then partnered with another group"},{"startTime":225.319,"endTime":229.189,"body":"as a part of the PL three Alliance to"},{"startTime":229.189,"endTime":232.849,"body":"create a product called Sage Forge,"},{"startTime":229.189,"endTime":232.849,"body":"that then looks at sentiment analysis"},{"startTime":232.849,"endTime":237.259,"body":"and understands what employees do,"},{"startTime":232.849,"endTime":237.259,"body":"and then we tie that to valuation."},{"startTime":238.039,"endTime":241.909,"body":"But the plans that come out of"},{"startTime":238.039,"endTime":241.909,"body":"that are actually created through"},{"startTime":241.909,"endTime":247.639,"body":"generative ai because we can go"},{"startTime":241.909,"endTime":247.639,"body":"across, huge amounts of data."},{"startTime":248.074,"endTime":250.434,"body":"To figure out, okay what"},{"startTime":248.074,"endTime":250.434,"body":"are you actually telling us?"},{"startTime":250.644,"endTime":252.414,"body":"Not just what do the results say?"},{"startTime":253.914,"endTime":260.364,"body":"And what's cool about that is that you're"},{"startTime":253.914,"endTime":260.364,"body":"able to take insights, turn them into"},{"startTime":260.364,"endTime":265.284,"body":"actions, and then people, legitimate,"},{"startTime":260.364,"endTime":265.284,"body":"tangible people can implement them."},{"startTime":266.004,"endTime":272.324,"body":"And that's the, I think, best use case of"},{"startTime":266.004,"endTime":272.324,"body":"AI in this space is to make things that"},{"startTime":272.324,"endTime":274.244,"body":"are happening in private equity easier."},{"startTime":274.814,"endTime":281.914,"body":"But not to replace that human insight,"},{"startTime":274.814,"endTime":281.914,"body":"that human touch that makes businesses"},{"startTime":281.914,"endTime":284.884,"body":"great, otherwise everything's"},{"startTime":281.914,"endTime":284.884,"body":"gonna become similar and mediocre."},{"startTime":286.954,"endTime":287.314,"body":"Yeah."},{"startTime":287.314,"endTime":291.304,"body":"One of the challenges today, I'm glad"},{"startTime":287.314,"endTime":291.304,"body":"you brought that up, is that if everyone"},{"startTime":291.304,"endTime":294.844,"body":"has the same button that you push"},{"startTime":291.304,"endTime":294.844,"body":"and everyone gets the same result and"},{"startTime":294.844,"endTime":296.404,"body":"nothing especially unique anymore, and"},{"startTime":296.494,"endTime":296.944,"body":"correct"},{"startTime":297.004,"endTime":299.014,"body":"information becomes a"},{"startTime":297.004,"endTime":299.014,"body":"commodity, and I have."},{"startTime":299.359,"endTime":303.739,"body":"Seen a lot of this and I love that"},{"startTime":299.359,"endTime":303.739,"body":"you brought up so many companies"},{"startTime":303.839,"endTime":305.999,"body":"that get investment are really"},{"startTime":303.839,"endTime":305.999,"body":"popular for a little while."},{"startTime":305.999,"endTime":309.089,"body":"'cause they throw AI in the name and"},{"startTime":305.999,"endTime":309.089,"body":"I find it really interesting 'cause I"},{"startTime":309.089,"endTime":312.509,"body":"always I mean they about this a lot and"},{"startTime":309.089,"endTime":312.509,"body":"it's there's two types of companies."},{"startTime":312.509,"endTime":315.989,"body":"There's companies that's doing something"},{"startTime":312.509,"endTime":315.989,"body":"really cool and there's company solving"},{"startTime":315.989,"endTime":317.339,"body":"a problem and it's about 80 20, right?"},{"startTime":317.879,"endTime":319.979,"body":"And the 80%, it sounds really cool."},{"startTime":320.339,"endTime":323.169,"body":"And I'll ask them what"},{"startTime":320.339,"endTime":323.169,"body":"problem do you solve?"},{"startTime":324.429,"endTime":325.779,"body":"Then they go we actually do this and this."},{"startTime":325.779,"endTime":330.519,"body":"I was like, but if you don't like the"},{"startTime":325.779,"endTime":330.519,"body":"companies that survive the downturns."},{"startTime":330.759,"endTime":330.819,"body":"Yeah."},{"startTime":331.299,"endTime":334.899,"body":"I built a couple of software tools myself"},{"startTime":331.299,"endTime":334.899,"body":"recently to solve problems for myself."},{"startTime":335.009,"endTime":337.559,"body":"And then if other people are"},{"startTime":335.009,"endTime":337.559,"body":"interested and they've actually"},{"startTime":337.829,"endTime":338.909,"body":"started to get some legs."},{"startTime":338.909,"endTime":340.679,"body":"But I start from that point,"},{"startTime":338.909,"endTime":340.679,"body":"I'm like, yeah, I built it for"},{"startTime":340.679,"endTime":342.059,"body":"me and it solves my problem."},{"startTime":342.389,"endTime":344.219,"body":"If it doesn't solve my problem,"},{"startTime":342.389,"endTime":344.219,"body":"like one of my tools, I was"},{"startTime":344.219,"endTime":345.179,"body":"just testing, it's not ready."},{"startTime":345.179,"endTime":347.219,"body":"I'm not gonna release it till"},{"startTime":345.179,"endTime":347.219,"body":"it works perfectly for me."},{"startTime":347.649,"endTime":350.019,"body":"And that is a very different than you see."},{"startTime":350.019,"endTime":353.829,"body":"We have this cool idea that's a feature"},{"startTime":350.019,"endTime":353.829,"body":"and it's very interesting to you and"},{"startTime":353.829,"endTime":357.519,"body":"we've seen this I know this is like the"},{"startTime":353.829,"endTime":357.519,"body":"second or third AI bubble we've seen like"},{"startTime":357.549,"endTime":360.789,"body":"machine learning bubble 10 years ago,"},{"startTime":357.549,"endTime":360.789,"body":"then all these different phases and we see"},{"startTime":360.789,"endTime":364.839,"body":"like they've tried to do virtual reality"},{"startTime":360.789,"endTime":364.839,"body":"many times and they keep trying these"},{"startTime":364.839,"endTime":367.089,"body":"different versions and it's always that."},{"startTime":367.089,"endTime":370.079,"body":"It's okay, if I'm doing"},{"startTime":367.089,"endTime":370.079,"body":"my work wearing a headset."},{"startTime":371.414,"endTime":373.034,"body":"What does that, how is that better?"},{"startTime":373.334,"endTime":374.504,"body":"Do I do more work faster?"},{"startTime":374.504,"endTime":375.614,"body":"Do I get work done less?"},{"startTime":375.974,"endTime":377.864,"body":"And it's no, but your neck"},{"startTime":375.974,"endTime":377.864,"body":"hurts at the end of the day"},{"startTime":377.864,"endTime":378.914,"body":"and your nose is really sore."},{"startTime":378.914,"endTime":380.024,"body":"It's those are bad benefits."},{"startTime":380.024,"endTime":385.064,"body":"Like the idea of wearing a headset is"},{"startTime":380.024,"endTime":385.064,"body":"it's, there's a physical cost to it."},{"startTime":385.064,"endTime":385.814,"body":"I get really dizzy."},{"startTime":385.844,"endTime":386.564,"body":"I cannot do it."},{"startTime":386.564,"endTime":388.954,"body":"And the thought of being in a"},{"startTime":386.564,"endTime":388.954,"body":"virtual reality headset for an"},{"startTime":388.954,"endTime":390.334,"body":"eight hour workday okay, great."},{"startTime":391.364,"endTime":393.704,"body":"That's why, and there's that's"},{"startTime":391.364,"endTime":393.704,"body":"why those products disappear."},{"startTime":393.704,"endTime":395.894,"body":"So I really think that's very"},{"startTime":393.704,"endTime":395.894,"body":"interesting that you start"},{"startTime":395.894,"endTime":397.184,"body":"from the data driven approach."},{"startTime":397.394,"endTime":397.574,"body":"Yeah."},{"startTime":397.574,"endTime":400.454,"body":"And a lot of people don't"},{"startTime":397.574,"endTime":400.454,"body":"know the difference between"},{"startTime":400.454,"endTime":401.654,"body":"machine learning and ai."},{"startTime":401.654,"endTime":402.794,"body":"They think it's just Yeah."},{"startTime":402.974,"endTime":403.724,"body":"The same thing."},{"startTime":403.724,"endTime":406.604,"body":"And also one of the struggles on"},{"startTime":403.724,"endTime":406.604,"body":"this show is that the definition"},{"startTime":406.604,"endTime":408.404,"body":"of AI has gotten so broad."},{"startTime":409.214,"endTime":411.129,"body":"It used to mean like"},{"startTime":409.214,"endTime":411.129,"body":"sentient computer, right?"},{"startTime":411.134,"endTime":413.109,"body":"It meant computer that wanted to"},{"startTime":411.134,"endTime":413.109,"body":"roll the world and now it means."},{"startTime":414.059,"endTime":417.869,"body":"Pretty good word processor or"},{"startTime":414.059,"endTime":417.869,"body":"something that can make images."},{"startTime":418.109,"endTime":421.409,"body":"So can you quickly give your definition"},{"startTime":418.109,"endTime":421.409,"body":"just for everyone listening, like the"},{"startTime":421.409,"endTime":424.839,"body":"difference where the line is between"},{"startTime":421.409,"endTime":424.839,"body":"machine learning and when it shifts to ai?"},{"startTime":425.979,"endTime":426.039,"body":"Yeah."},{"startTime":426.039,"endTime":432.039,"body":"I think that machine learning is about"},{"startTime":426.039,"endTime":432.039,"body":"statistical techniques that can help"},{"startTime":433.119,"endTime":438.344,"body":"simulate and aggregate data and extract"},{"startTime":433.119,"endTime":438.344,"body":"some insights from a specific data set."},{"startTime":438.404,"endTime":445.484,"body":"Data, data window that, that"},{"startTime":438.404,"endTime":445.484,"body":"ability to make that analysis"},{"startTime":445.544,"endTime":452.064,"body":"easier in, truly using some of those"},{"startTime":445.544,"endTime":452.064,"body":"statistical statistical models."},{"startTime":452.364,"endTime":460.009,"body":"The AI side of it is when it gets into"},{"startTime":452.364,"endTime":460.009,"body":"predicting text, when it gets into"},{"startTime":460.009,"endTime":463.314,"body":"thinking about, okay, how do I scrape."},{"startTime":464.289,"endTime":467.619,"body":"Scrape concepts, learn from those"},{"startTime":464.289,"endTime":467.619,"body":"concepts, and then take that"},{"startTime":467.619,"endTime":472.599,"body":"back into developing something"},{"startTime":467.619,"endTime":472.599,"body":"quote unquote new or at least"},{"startTime":472.599,"endTime":475.249,"body":"replicated in a real-time fashion."},{"startTime":475.819,"endTime":478.789,"body":"And I think there's a big distinction"},{"startTime":475.819,"endTime":478.789,"body":"there because one is about"},{"startTime":479.599,"endTime":485.029,"body":"creating a tool that can help you"},{"startTime":479.599,"endTime":485.029,"body":"gain more insights more quickly."},{"startTime":486.109,"endTime":489.619,"body":"Another one that you could absolutely"},{"startTime":486.109,"endTime":489.619,"body":"do all the same things if you just did"},{"startTime":489.619,"endTime":492.259,"body":"it out the way we traditionally did."},{"startTime":492.289,"endTime":493.939,"body":"My background's in quantitative sociology."},{"startTime":493.939,"endTime":496.399,"body":"I can't tell you the number of"},{"startTime":493.939,"endTime":496.399,"body":"hours I spent in various computer"},{"startTime":496.399,"endTime":501.239,"body":"labs, writing various lines of"},{"startTime":496.399,"endTime":501.239,"body":"code to try to analyze these things"},{"startTime":501.449,"endTime":503.324,"body":"that now I could do in 25 minutes."},{"startTime":504.494,"endTime":508.859,"body":"But when you truly get"},{"startTime":504.494,"endTime":508.859,"body":"into that AI sense for me."},{"startTime":509.954,"endTime":513.524,"body":"It's about taking something"},{"startTime":509.954,"endTime":513.524,"body":"that is a level beyond that."},{"startTime":513.584,"endTime":515.114,"body":"It's something I could not have done."},{"startTime":515.444,"endTime":521.544,"body":"Something that involves somewhat of that"},{"startTime":515.444,"endTime":521.544,"body":"black box of, a truly nascent information"},{"startTime":521.634,"endTime":523.224,"body":"that's being pulled from somewhere."},{"startTime":527.484,"endTime":528.624,"body":"Thank you so much for explaining it."},{"startTime":528.624,"endTime":532.324,"body":"I think that's really helpful to see that"},{"startTime":528.624,"endTime":532.324,"body":"part of AI is the creativity element."},{"startTime":532.954,"endTime":535.144,"body":"The benefit is that it can be"},{"startTime":532.954,"endTime":535.144,"body":"creative, but it also means that"},{"startTime":535.144,"endTime":536.854,"body":"there's an inconsistency, right?"},{"startTime":536.854,"endTime":539.524,"body":"So that's where you start to get"},{"startTime":536.854,"endTime":539.524,"body":"risk, where you ask the same question"},{"startTime":539.524,"endTime":540.934,"body":"10 times and one outta 10 times."},{"startTime":540.934,"endTime":544.054,"body":"It gives you a different answer, and"},{"startTime":540.934,"endTime":544.054,"body":"that's one of the challenges when"},{"startTime":544.054,"endTime":546.814,"body":"I'm building or working on projects,"},{"startTime":544.054,"endTime":546.814,"body":"is trying to get the creativity"},{"startTime":546.814,"endTime":550.204,"body":"without getting it to go outside the"},{"startTime":546.814,"endTime":550.204,"body":"line, to color outside the lines."},{"startTime":550.759,"endTime":555.259,"body":"One of the really interesting things"},{"startTime":550.759,"endTime":555.259,"body":"we're seeing is that even though"},{"startTime":555.259,"endTime":558.829,"body":"everyone says they're data driven, it"},{"startTime":555.259,"endTime":558.829,"body":"really seems like even now a lot of"},{"startTime":558.829,"endTime":561.199,"body":"investing is relational and emotional."},{"startTime":561.199,"endTime":565.339,"body":"Like you get excited about a"},{"startTime":561.199,"endTime":565.339,"body":"project and very rarely is it."},{"startTime":565.919,"endTime":567.119,"body":"Is there a full logic chain?"},{"startTime":567.119,"endTime":567.899,"body":"It's like a lot."},{"startTime":567.899,"endTime":571.799,"body":"It seems like a lot of investing is"},{"startTime":567.899,"endTime":571.799,"body":"like fomo and it's what if it works?"},{"startTime":572.339,"endTime":575.519,"body":"And we've seen that with a"},{"startTime":572.339,"endTime":575.519,"body":"lot of companies like that."},{"startTime":575.519,"endTime":577.949,"body":"In last year there've been a couple"},{"startTime":575.519,"endTime":577.949,"body":"of AI SPACs and it turned out"},{"startTime":577.949,"endTime":580.409,"body":"they just put AI in the title and"},{"startTime":577.949,"endTime":580.409,"body":"there's no AI component at all."},{"startTime":580.469,"endTime":583.679,"body":"They did massive raises and now we"},{"startTime":580.469,"endTime":583.679,"body":"saw a company that faked all their"},{"startTime":583.679,"endTime":585.449,"body":"numbers and had no AI component at all."},{"startTime":585.449,"endTime":586.259,"body":"Just a call center."},{"startTime":586.259,"endTime":591.629,"body":"So what is the core element or the"},{"startTime":586.259,"endTime":591.629,"body":"value of an AI in a company and what"},{"startTime":591.629,"endTime":593.789,"body":"are the kind of things when you're"},{"startTime":591.629,"endTime":593.789,"body":"doing your data analysis that."},{"startTime":594.239,"endTime":597.089,"body":"Move the emotion out of it and first"},{"startTime":594.239,"endTime":597.089,"body":"have that logical step which go,"},{"startTime":597.089,"endTime":601.679,"body":"wait, before we get excited, before"},{"startTime":597.089,"endTime":601.679,"body":"we fall in love with this business,"},{"startTime":601.799,"endTime":605.339,"body":"what are the things we look for that"},{"startTime":601.799,"endTime":605.339,"body":"we can look for statistically that"},{"startTime":605.339,"endTime":608.999,"body":"are signs that it's going in the right"},{"startTime":605.339,"endTime":608.999,"body":"direction or the wrong direction?"},{"startTime":610.109,"endTime":614.219,"body":"Yeah, I think that's a really"},{"startTime":610.109,"endTime":614.219,"body":"interesting question because as"},{"startTime":614.219,"endTime":617.219,"body":"much as people say, they're very"},{"startTime":614.219,"endTime":617.219,"body":"data-driven and private, equity's an"},{"startTime":617.219,"endTime":622.409,"body":"interesting space because there's so"},{"startTime":617.219,"endTime":622.409,"body":"many numbers and those numbers are."},{"startTime":623.324,"endTime":628.394,"body":"Often directional and"},{"startTime":623.324,"endTime":628.394,"body":"often can be manipulated."},{"startTime":628.394,"endTime":634.384,"body":"And when I was on the deal side doing the"},{"startTime":628.394,"endTime":634.384,"body":"analysis, while I was in my MBA doing my"},{"startTime":634.384,"endTime":637.924,"body":"internships and things like that, I come"},{"startTime":634.384,"endTime":637.924,"body":"up with the numbers and I come to the"},{"startTime":638.074,"endTime":640.134,"body":"investment meetings with my presentation."},{"startTime":640.749,"endTime":643.749,"body":"I'd start talking about the leadership,"},{"startTime":640.749,"endTime":643.749,"body":"or I'd start talking about the"},{"startTime":643.749,"endTime":646.879,"body":"fundamental business model, or I'd"},{"startTime":643.749,"endTime":646.879,"body":"start talking about, the supply"},{"startTime":646.879,"endTime":649.999,"body":"chain and I'd get stopped and they're"},{"startTime":646.879,"endTime":649.999,"body":"like no, but what are the numbers?"},{"startTime":650.049,"endTime":651.879,"body":"The numbers can say"},{"startTime":650.049,"endTime":651.879,"body":"whatever I want them to say."},{"startTime":652.359,"endTime":655.424,"body":"I put in a four times return,"},{"startTime":652.359,"endTime":655.424,"body":"and so it looks profitable."},{"startTime":655.544,"endTime":658.994,"body":"You put in a two times return"},{"startTime":655.544,"endTime":658.994,"body":"and it's a less good deal."},{"startTime":659.534,"endTime":662.234,"body":"How do you know what's gonna happen"},{"startTime":659.534,"endTime":662.234,"body":"unless you can talk through the"},{"startTime":662.234,"endTime":663.494,"body":"fundamentals of the business."},{"startTime":664.034,"endTime":666.719,"body":"And I think that's what gets lost"},{"startTime":664.034,"endTime":666.719,"body":"when you're investing in a bubble."},{"startTime":667.889,"endTime":670.979,"body":"Is that people don't know what"},{"startTime":667.889,"endTime":670.979,"body":"those fundamentals should be"},{"startTime":670.979,"endTime":673.579,"body":"yet in some of these areas."},{"startTime":674.029,"endTime":680.419,"body":"And so when I'm looking at, and I actually"},{"startTime":674.029,"endTime":680.419,"body":"recently invested in an AI based business."},{"startTime":681.019,"endTime":687.289,"body":"I looked at one, to your point earlier,"},{"startTime":681.019,"endTime":687.289,"body":"what problem are they solving and how do"},{"startTime":687.289,"endTime":692.329,"body":"they go about doing it that I can't do"},{"startTime":687.289,"endTime":692.329,"body":"through a combination of existing tools."},{"startTime":693.739,"endTime":697.429,"body":"So then you get into, okay,"},{"startTime":693.739,"endTime":697.429,"body":"what's your cost structure?"},{"startTime":697.429,"endTime":698.779,"body":"How are you thinking through this?"},{"startTime":698.829,"endTime":703.869,"body":"What are you doing that is going"},{"startTime":698.829,"endTime":703.869,"body":"to make this replicable, scalable?"},{"startTime":704.169,"endTime":708.489,"body":"All the other things you look at, if you"},{"startTime":704.169,"endTime":708.489,"body":"were talking about producing widgets, and"},{"startTime":709.029,"endTime":711.969,"body":"I think at the end of the day you have"},{"startTime":709.029,"endTime":711.969,"body":"to get back to some of those fundamentals"},{"startTime":711.969,"endTime":715.119,"body":"of do you have the right leaders"},{"startTime":711.969,"endTime":715.119,"body":"in place who can take this forward?"},{"startTime":715.689,"endTime":718.089,"body":"Do you have the scalability of your teams?"},{"startTime":718.389,"endTime":720.069,"body":"Are your margins going to be appropriate?"},{"startTime":720.849,"endTime":727.929,"body":"Do you have a growth path that isn't"},{"startTime":720.849,"endTime":727.929,"body":"relying on this bubble or concept or the"},{"startTime":727.929,"endTime":729.949,"body":"idea that, AI's taking over everything?"},{"startTime":730.759,"endTime":737.059,"body":"And how do you ensure that what"},{"startTime":730.759,"endTime":737.059,"body":"you're doing isn't replicable by"},{"startTime":737.089,"endTime":742.699,"body":"eight other groups, or if it is, how"},{"startTime":737.089,"endTime":742.699,"body":"do you do it better, faster, or with."},{"startTime":743.149,"endTime":744.469,"body":"A more compelling pitch."},{"startTime":745.069,"endTime":749.359,"body":"And that's where I think it, it really"},{"startTime":745.069,"endTime":749.359,"body":"looks at the end of the day, like"},{"startTime":749.359,"endTime":754.459,"body":"every other investment that you're"},{"startTime":749.359,"endTime":754.459,"body":"going to look at, but people are"},{"startTime":754.489,"endTime":759.289,"body":"wildly emotional in a space where"},{"startTime":754.489,"endTime":759.289,"body":"people think they're very data-driven."},{"startTime":759.739,"endTime":764.429,"body":"And it's actually probably one of the"},{"startTime":759.739,"endTime":764.429,"body":"worst kept secrets in the investing"},{"startTime":764.429,"endTime":769.169,"body":"world is how much data there is"},{"startTime":764.429,"endTime":769.169,"body":"and how little it's used at the end"},{"startTime":769.169,"endTime":770.249,"body":"of the day to make the decision."},{"startTime":771.779,"endTime":771.899,"body":"Yeah."},{"startTime":771.899,"endTime":775.319,"body":"One of the things I've seen having"},{"startTime":771.899,"endTime":775.319,"body":"now worked with some VC projects"},{"startTime":775.319,"endTime":778.259,"body":"is like words have no definition."},{"startTime":778.259,"endTime":780.629,"body":"So I work on a project and they"},{"startTime":778.259,"endTime":780.629,"body":"said, we have this many users."},{"startTime":780.629,"endTime":781.709,"body":"I said what's a user?"},{"startTime":782.789,"endTime":782.909,"body":"Yeah."},{"startTime":782.909,"endTime":787.319,"body":"Because I know daily active user"},{"startTime":782.909,"endTime":787.319,"body":"and I know paying customer, right?"},{"startTime":787.469,"endTime":790.019,"body":"And they were like anyone who's"},{"startTime":787.469,"endTime":790.019,"body":"ever given us their email address."},{"startTime":790.019,"endTime":792.149,"body":"And I was like, that's Oh."},{"startTime":792.719,"endTime":795.239,"body":"I go, okay, so you're maximizing,"},{"startTime":792.719,"endTime":795.239,"body":"you wanna give the biggest"},{"startTime":795.239,"endTime":796.164,"body":"number possible, right?"},{"startTime":796.169,"endTime":799.349,"body":"So you, and there's all"},{"startTime":796.169,"endTime":799.349,"body":"these things that happen."},{"startTime":799.349,"endTime":803.129,"body":"And then of course, two companies"},{"startTime":799.349,"endTime":803.129,"body":"will both become customers"},{"startTime":803.129,"endTime":805.229,"body":"of each other to increase the"},{"startTime":803.129,"endTime":805.229,"body":"number of customers they have."},{"startTime":805.289,"endTime":807.179,"body":"I'll spend a hundred dollars, you"},{"startTime":805.289,"endTime":807.179,"body":"spend a hundred dollars With me,"},{"startTime":807.359,"endTime":810.149,"body":"now we each have one more customer"},{"startTime":807.359,"endTime":810.149,"body":"and our revenue, even though our"},{"startTime":810.239,"endTime":813.239,"body":"net is identical and a lot of this."},{"startTime":813.784,"endTime":816.094,"body":"If you are just looking at numbers"},{"startTime":813.784,"endTime":816.094,"body":"and you don't pay attention to"},{"startTime":816.094,"endTime":817.834,"body":"what's the next to the number, right?"},{"startTime":817.834,"endTime":819.664,"body":"There's a huge difference"},{"startTime":817.834,"endTime":819.664,"body":"between daily active users."},{"startTime":819.664,"endTime":820.864,"body":"Monthly active users."},{"startTime":820.984,"endTime":821.164,"body":"Yeah."},{"startTime":821.194,"endTime":823.444,"body":"Total users and like customers."},{"startTime":824.274,"endTime":826.914,"body":"I've worked on a project where they"},{"startTime":824.274,"endTime":826.914,"body":"considered a free trial person,"},{"startTime":826.914,"endTime":831.144,"body":"a customer, and I was like that,"},{"startTime":826.914,"endTime":831.144,"body":"and I'm very old school, so I come"},{"startTime":831.144,"endTime":834.294,"body":"from, I don't, I've never taken"},{"startTime":831.144,"endTime":834.294,"body":"investment for how I build companies."},{"startTime":835.279,"endTime":837.109,"body":"I only have money if I make it."},{"startTime":837.469,"endTime":840.999,"body":"So to me, I've had employees, I had"},{"startTime":837.469,"endTime":840.999,"body":"an employee who was in social media,"},{"startTime":840.999,"endTime":842.469,"body":"and he was like, here's our reach."},{"startTime":842.469,"endTime":843.459,"body":"And I go, cool."},{"startTime":844.089,"endTime":845.079,"body":"That's not a real number."},{"startTime":845.079,"endTime":847.419,"body":"Reach is like how many friends"},{"startTime":845.079,"endTime":847.419,"body":"I could have had in high school."},{"startTime":847.779,"endTime":850.689,"body":"And I was like, my reach was"},{"startTime":847.779,"endTime":850.689,"body":"400, my real numbers was three."},{"startTime":850.689,"endTime":851.799,"body":"So it's really different."},{"startTime":852.159,"endTime":853.719,"body":"Like I could have been friends"},{"startTime":852.159,"endTime":853.719,"body":"with everyone in high school."},{"startTime":853.719,"endTime":854.349,"body":"I wasn't."},{"startTime":854.679,"endTime":857.439,"body":"And it's like my favorite metric"},{"startTime":854.679,"endTime":857.439,"body":"starts with a dollar sign."},{"startTime":857.499,"endTime":857.829,"body":"Yes."},{"startTime":857.829,"endTime":859.299,"body":"Because that's the concrete thing."},{"startTime":859.349,"endTime":863.349,"body":"When you're taking this approach, how"},{"startTime":859.349,"endTime":863.349,"body":"do you pull people out of the emotion?"},{"startTime":863.349,"endTime":865.449,"body":"Say, and that's the thing"},{"startTime":863.349,"endTime":865.449,"body":"that's really important."},{"startTime":865.449,"endTime":868.179,"body":"I've always known this and I was"},{"startTime":865.449,"endTime":868.179,"body":"like, all numbers can be, you can make"},{"startTime":868.179,"endTime":869.709,"body":"any number look good or bad, right?"},{"startTime":869.709,"endTime":871.749,"body":"It's all about how you"},{"startTime":869.709,"endTime":871.749,"body":"describe it, how you modify it."},{"startTime":872.079,"endTime":877.089,"body":"So I see that a lot of, like startups get"},{"startTime":872.079,"endTime":877.089,"body":"excited and people get excited, but they"},{"startTime":877.089,"endTime":879.619,"body":"don't have what's the correct structure?"},{"startTime":879.619,"endTime":881.829,"body":"What is the structure for"},{"startTime":879.619,"endTime":881.829,"body":"the right type of business."},{"startTime":881.829,"endTime":882.909,"body":"What's their business model?"},{"startTime":882.909,"endTime":884.799,"body":"What's the type of"},{"startTime":882.909,"endTime":884.799,"body":"customer they're seeking?"},{"startTime":885.099,"endTime":886.089,"body":"What's the path through revenue?"},{"startTime":886.089,"endTime":887.919,"body":"It's yeah, but it's so"},{"startTime":886.089,"endTime":887.919,"body":"exciting to have ai."},{"startTime":888.639,"endTime":891.309,"body":"So how long, maybe, this is interesting."},{"startTime":891.309,"endTime":895.299,"body":"How long do you think the hype cycle"},{"startTime":891.309,"endTime":895.299,"body":"for AI will last before we have enough"},{"startTime":895.299,"endTime":898.299,"body":"failed investments that people will"},{"startTime":895.299,"endTime":898.299,"body":"go, let's stop throwing money at it?"},{"startTime":898.299,"endTime":900.939,"body":"Let's start going back to being"},{"startTime":898.299,"endTime":900.939,"body":"a little analytical again."},{"startTime":903.504,"endTime":907.134,"body":"I think it's gonna be a question"},{"startTime":903.504,"endTime":907.134,"body":"of how much overhang continues"},{"startTime":907.134,"endTime":909.024,"body":"to exist in the investing space."},{"startTime":909.474,"endTime":916.164,"body":"So right now there are trillions of"},{"startTime":909.474,"endTime":916.164,"body":"dollars that need to be invested and a lot"},{"startTime":916.164,"endTime":921.599,"body":"of businesses that aren't being sold right"},{"startTime":916.164,"endTime":921.599,"body":"now, because they were, they've been owned"},{"startTime":921.599,"endTime":925.619,"body":"by these VCs and PEs for seven plus years."},{"startTime":926.174,"endTime":928.124,"body":"They're not returning that"},{"startTime":926.174,"endTime":928.124,"body":"money to the investors."},{"startTime":928.334,"endTime":930.704,"body":"The investors are saying, okay,"},{"startTime":928.334,"endTime":930.704,"body":"but you have all of our money that"},{"startTime":930.704,"endTime":932.654,"body":"you're not deploying into new stuff."},{"startTime":932.684,"endTime":934.514,"body":"'cause you're telling us"},{"startTime":932.684,"endTime":934.514,"body":"that nothing's on the market."},{"startTime":935.564,"endTime":938.324,"body":"So then people are excited"},{"startTime":935.564,"endTime":938.324,"body":"about things that aren't real."},{"startTime":939.434,"endTime":944.214,"body":"That's going to create a pretty"},{"startTime":939.434,"endTime":944.214,"body":"significant wash and a loss of"},{"startTime":944.214,"endTime":948.844,"body":"actually a fair amount of value"},{"startTime":944.214,"endTime":948.844,"body":"for people if people are overhyped."},{"startTime":949.534,"endTime":951.004,"body":"And so I think that."},{"startTime":951.754,"endTime":953.824,"body":"Hype cycle will go on a little too long."},{"startTime":954.274,"endTime":959.764,"body":"If fundamental businesses and things that"},{"startTime":954.274,"endTime":959.764,"body":"people bought, just pre COVID aren't being"},{"startTime":959.764,"endTime":962.904,"body":"sold in the next, two, three quarters."},{"startTime":963.624,"endTime":968.204,"body":"I think if they do start moving things"},{"startTime":963.624,"endTime":968.204,"body":"out of, a lot of those roll-ups that"},{"startTime":968.204,"endTime":973.414,"body":"were done of, service companies and other"},{"startTime":968.204,"endTime":973.414,"body":"things that got really hot in the PE"},{"startTime":973.414,"endTime":976.054,"body":"space, if they can start moving those."},{"startTime":976.894,"endTime":982.354,"body":"It'll put a damper on the AI hype cycle"},{"startTime":976.894,"endTime":982.354,"body":"because they'll be able to invest the"},{"startTime":982.354,"endTime":988.504,"body":"money in things that may require a little"},{"startTime":982.354,"endTime":988.504,"body":"bit more diligence or may require a little"},{"startTime":988.504,"endTime":992.314,"body":"bit more risk taking, but risk taking"},{"startTime":988.504,"endTime":992.314,"body":"based on some old school fundamentals"},{"startTime":992.314,"endTime":994.714,"body":"as opposed to some hype, which."},{"startTime":996.154,"endTime":997.804,"body":"I'm not confident that's gonna happen."},{"startTime":998.884,"endTime":1002.334,"body":"So I think that you're looking at"},{"startTime":998.884,"endTime":1002.334,"body":"probably a little too much hype"},{"startTime":1002.334,"endTime":1003.864,"body":"and a little for a little too long."},{"startTime":1004.104,"endTime":1009.204,"body":"I think also every time you get a"},{"startTime":1004.104,"endTime":1009.204,"body":"big win out of AI, that's going to"},{"startTime":1010.194,"endTime":1016.974,"body":"elongate What's happening here and"},{"startTime":1010.194,"endTime":1016.974,"body":"what's hard on that front is that AI"},{"startTime":1016.974,"endTime":1022.074,"body":"can do some really cool things and"},{"startTime":1016.974,"endTime":1022.074,"body":"there are great use cases for it."},{"startTime":1022.074,"endTime":1022.734,"body":"I used."},{"startTime":1023.304,"endTime":1028.004,"body":"I used an AI tool earlier this week"},{"startTime":1023.304,"endTime":1028.004,"body":"to help develop some messaging for"},{"startTime":1028.004,"endTime":1032.804,"body":"a secondary ICP that we were trying"},{"startTime":1028.004,"endTime":1032.804,"body":"to figure out, okay, how is this"},{"startTime":1032.804,"endTime":1036.044,"body":"message different than the message"},{"startTime":1032.804,"endTime":1036.044,"body":"we typically use when we're pitching?"},{"startTime":1036.704,"endTime":1038.864,"body":"It was a great application of that."},{"startTime":1038.894,"endTime":1039.704,"body":"It was limited."},{"startTime":1040.064,"endTime":1044.294,"body":"It was easy, and it was protected"},{"startTime":1040.064,"endTime":1044.294,"body":"because it wasn't going out to"},{"startTime":1045.464,"endTime":1048.854,"body":"everyone and their brother with"},{"startTime":1045.464,"endTime":1048.854,"body":"the information I was providing."},{"startTime":1049.559,"endTime":1053.009,"body":"But you have to be aware of that,"},{"startTime":1049.559,"endTime":1053.009,"body":"and you have to understand how to"},{"startTime":1053.609,"endTime":1055.619,"body":"utilize these tools in the right ways."},{"startTime":1056.169,"endTime":1059.009,"body":"But I think every time there's a"},{"startTime":1056.169,"endTime":1059.009,"body":"big, public story about how there's"},{"startTime":1059.009,"endTime":1063.109,"body":"a phenomenal new AI company, it then"},{"startTime":1059.009,"endTime":1063.109,"body":"inspires people to feel like they're"},{"startTime":1063.109,"endTime":1068.014,"body":"missing the boat or that, if they only"},{"startTime":1063.109,"endTime":1068.014,"body":"could have invested in Amazon on day"},{"startTime":1068.014,"endTime":1070.264,"body":"one, look at what billionaires we'd be."},{"startTime":1073.459,"endTime":1077.899,"body":"One of the things I've seen is that a"},{"startTime":1073.459,"endTime":1077.899,"body":"lot of companies had a big valuation"},{"startTime":1077.899,"endTime":1080.629,"body":"like three or four years ago, and"},{"startTime":1077.899,"endTime":1080.629,"body":"like we're close to getting acquired."},{"startTime":1080.629,"endTime":1083.189,"body":"Suddenly companies are like"},{"startTime":1080.629,"endTime":1083.189,"body":"maybe we can do that with ai."},{"startTime":1083.189,"endTime":1084.209,"body":"We don't need you anymore."},{"startTime":1084.549,"endTime":1087.609,"body":"'Cause people are so unsure"},{"startTime":1084.549,"endTime":1087.609,"body":"of what AI can and can't do."},{"startTime":1087.969,"endTime":1090.519,"body":"We've seen a couple of cycles, like"},{"startTime":1087.969,"endTime":1090.519,"body":"you could replace your entire staff"},{"startTime":1090.519,"endTime":1093.939,"body":"with ai and we fired a whole customer"},{"startTime":1090.519,"endTime":1093.939,"body":"service department and replaced with ai."},{"startTime":1093.939,"endTime":1095.919,"body":"And now all of our customers"},{"startTime":1093.939,"endTime":1095.919,"body":"are angry for some reason."},{"startTime":1095.919,"endTime":1099.069,"body":"So we're seeing some like big swings that."},{"startTime":1099.729,"endTime":1102.459,"body":"I think have led to some hesitation"},{"startTime":1099.729,"endTime":1102.459,"body":"and then like they go your company"},{"startTime":1102.459,"endTime":1103.419,"body":"was amazing three years ago."},{"startTime":1103.419,"endTime":1104.709,"body":"Maybe just AI can do it now."},{"startTime":1105.159,"endTime":1108.879,"body":"And there's that open question is also"},{"startTime":1105.159,"endTime":1108.879,"body":"seems to be affecting acquisitions."},{"startTime":1108.879,"endTime":1108.939,"body":"Yeah."},{"startTime":1109.329,"endTime":1113.409,"body":"And I think a lot of it comes down to,"},{"startTime":1109.329,"endTime":1113.409,"body":"it all comes down to some core things,"},{"startTime":1113.409,"endTime":1116.889,"body":"which is that nobody knows that AI"},{"startTime":1113.409,"endTime":1116.889,"body":"means the definition is really broad."},{"startTime":1116.939,"endTime":1119.129,"body":"And that we're not sure."},{"startTime":1120.389,"endTime":1123.239,"body":"The usefulness, like I think I"},{"startTime":1120.389,"endTime":1123.239,"body":"always approach when, same thing"},{"startTime":1123.239,"endTime":1125.789,"body":"when I'm trying to think of buying"},{"startTime":1123.239,"endTime":1125.789,"body":"a tool, I go, how is this useful?"},{"startTime":1126.149,"endTime":1127.799,"body":"Will it save me more time?"},{"startTime":1127.799,"endTime":1131.279,"body":"That's worth the money of the cost, but"},{"startTime":1127.799,"endTime":1131.279,"body":"we see a lot of tools that are cool."},{"startTime":1131.309,"endTime":1132.749,"body":"Yeah, making AI videos is cool."},{"startTime":1132.749,"endTime":1134.009,"body":"It's not gonna help my business at all."},{"startTime":1134.399,"endTime":1137.369,"body":"It, there's no right value to an"},{"startTime":1134.399,"endTime":1137.369,"body":"AI video for growing my business."},{"startTime":1137.369,"endTime":1139.619,"body":"I'm not making videos before,"},{"startTime":1137.369,"endTime":1139.619,"body":"so I would make videos now."},{"startTime":1139.619,"endTime":1140.579,"body":"Same thing with AI music."},{"startTime":1140.579,"endTime":1143.909,"body":"It's cool, but not useful, but"},{"startTime":1140.579,"endTime":1143.909,"body":"we see a lot of excitement."},{"startTime":1144.479,"endTime":1147.929,"body":"The more exciting something is, the more"},{"startTime":1144.479,"endTime":1147.929,"body":"trends on social media the less useful."},{"startTime":1147.929,"endTime":1149.759,"body":"It's, there's almost a"},{"startTime":1147.929,"endTime":1149.759,"body":"perfect inverse correlation."},{"startTime":1151.169,"endTime":1154.879,"body":"So how can companies that are having"},{"startTime":1151.169,"endTime":1154.879,"body":"this struggle where they were like,"},{"startTime":1155.329,"endTime":1157.909,"body":"thought they had a good valuation,"},{"startTime":1155.329,"endTime":1157.909,"body":"were looking to exit, and then suddenly"},{"startTime":1157.909,"endTime":1159.169,"body":"people go maybe AI could do it."},{"startTime":1159.169,"endTime":1161.039,"body":"You do what's the answer to that?"},{"startTime":1162.089,"endTime":1166.709,"body":"So we actually got that question"},{"startTime":1162.089,"endTime":1166.709,"body":"for The Crucible the other day from"},{"startTime":1166.839,"endTime":1169.449,"body":"actually three different groups"},{"startTime":1166.839,"endTime":1169.449,"body":"that I talked to in one week."},{"startTime":1170.319,"endTime":1173.659,"body":"And it was a question of why would"},{"startTime":1170.319,"endTime":1173.659,"body":"we give your leadership assessment?"},{"startTime":1173.689,"endTime":1175.249,"body":"Couldn't AI just take that?"},{"startTime":1175.309,"endTime":1179.449,"body":"And people would fake it so"},{"startTime":1175.309,"endTime":1179.449,"body":"it doesn't tell us anything."},{"startTime":1179.449,"endTime":1180.709,"body":"I'm like, okay, let's try it."},{"startTime":1180.979,"endTime":1186.559,"body":"So I pull up chat GPT and showed them live"},{"startTime":1180.979,"endTime":1186.559,"body":"that it can't take it, that it was having,"},{"startTime":1186.769,"endTime":1189.019,"body":"the way it's structured, the way it's it."},{"startTime":1189.919,"endTime":1190.729,"body":"Needs to be answered."},{"startTime":1190.729,"endTime":1196.519,"body":"And then I talked through also the point"},{"startTime":1190.729,"endTime":1196.519,"body":"of using a leadership assessment like ours"},{"startTime":1196.519,"endTime":1198.799,"body":"is that we can figure it for your fund."},{"startTime":1198.799,"endTime":1203.089,"body":"And we do, we engage with information"},{"startTime":1198.799,"endTime":1203.089,"body":"and someone would have to be"},{"startTime":1203.089,"endTime":1205.879,"body":"able to figure out not just what"},{"startTime":1203.089,"endTime":1205.879,"body":"the AI should tell them about"},{"startTime":1205.879,"endTime":1207.499,"body":"themselves, but the rest of the team."},{"startTime":1208.279,"endTime":1211.549,"body":"And there are too many points"},{"startTime":1208.279,"endTime":1211.549,"body":"of information that the AI can't"},{"startTime":1211.549,"endTime":1214.039,"body":"predict and therefore can't know."},{"startTime":1214.969,"endTime":1217.669,"body":"Could it come up with a reasonable"},{"startTime":1214.969,"endTime":1217.669,"body":"score, even if it could take it?"},{"startTime":1217.669,"endTime":1220.099,"body":"Yeah, probably, but not anything"},{"startTime":1217.669,"endTime":1220.099,"body":"that's gonna be compelling."},{"startTime":1220.879,"endTime":1224.179,"body":"And so when I walked through"},{"startTime":1220.879,"endTime":1224.179,"body":"that with someone, they were"},{"startTime":1224.179,"endTime":1226.279,"body":"like, oh, okay, I get it now."},{"startTime":1226.729,"endTime":1227.599,"body":"Fantastic."},{"startTime":1227.839,"endTime":1231.889,"body":"And I think it's really getting back"},{"startTime":1227.839,"endTime":1231.889,"body":"to what can AI do and what can't it do?"},{"startTime":1232.129,"endTime":1233.269,"body":"What does your business do?"},{"startTime":1233.269,"endTime":1237.619,"body":"What does that problem you're"},{"startTime":1233.269,"endTime":1237.619,"body":"solving and what isn't that problem?"},{"startTime":1237.979,"endTime":1240.829,"body":"And so people still wanna buy from people."},{"startTime":1241.579,"endTime":1243.319,"body":"People still wanna talk to people."},{"startTime":1244.354,"endTime":1245.554,"body":"People wanna feel heard."},{"startTime":1245.674,"endTime":1250.474,"body":"It's why everyone gets annoyed when you"},{"startTime":1245.674,"endTime":1250.474,"body":"have to go through those automated systems"},{"startTime":1250.984,"endTime":1256.244,"body":"in, on the phone or when you're at a kiosk"},{"startTime":1250.984,"endTime":1256.244,"body":"at McDonald's trying to enter things."},{"startTime":1256.244,"endTime":1261.134,"body":"I understand the average ticket is"},{"startTime":1256.244,"endTime":1261.134,"body":"higher, but just sit down and watch."},{"startTime":1261.194,"endTime":1263.384,"body":"People still go to the"},{"startTime":1261.194,"endTime":1263.384,"body":"counter all the time."},{"startTime":1263.564,"endTime":1265.514,"body":"They don't go to the kiosk"},{"startTime":1263.564,"endTime":1265.514,"body":"if they have a problem."},{"startTime":1265.574,"endTime":1269.414,"body":"They don't want to interact"},{"startTime":1265.574,"endTime":1269.414,"body":"with that interface."},{"startTime":1269.984,"endTime":1272.594,"body":"It becomes interesting to balance that."},{"startTime":1273.044,"endTime":1277.964,"body":"How do we leverage the technologies and"},{"startTime":1273.044,"endTime":1277.964,"body":"also provide that point of connection?"},{"startTime":1277.964,"endTime":1283.934,"body":"Because, and I say this with the"},{"startTime":1277.964,"endTime":1283.934,"body":"sociological background, if you create"},{"startTime":1283.934,"endTime":1288.714,"body":"too many silos in our world where we're"},{"startTime":1283.934,"endTime":1288.714,"body":"interacting not with each other, but"},{"startTime":1289.224,"endTime":1297.264,"body":"with machines, with programs, with things"},{"startTime":1289.224,"endTime":1297.264,"body":"that don't exist, we're not a society."},{"startTime":1298.329,"endTime":1302.679,"body":"We become very isolated and very sad,"},{"startTime":1298.329,"endTime":1302.679,"body":"and so I think humans inherently know"},{"startTime":1302.679,"endTime":1309.249,"body":"that we need each other and therefore"},{"startTime":1302.679,"endTime":1309.249,"body":"we want to want each other and be a"},{"startTime":1309.249,"endTime":1314.169,"body":"part of that in a tangible way, both for"},{"startTime":1309.249,"endTime":1314.169,"body":"commercial purposes and social purposes."},{"startTime":1316.479,"endTime":1318.249,"body":"Yeah, I think that's something"},{"startTime":1316.479,"endTime":1318.249,"body":"that's really important."},{"startTime":1318.249,"endTime":1321.669,"body":"Sometimes companies seem like they're"},{"startTime":1318.249,"endTime":1321.669,"body":"trying to solve human connection."},{"startTime":1322.359,"endTime":1325.299,"body":"It's like nobody, there's nobody out"},{"startTime":1322.359,"endTime":1325.299,"body":"there going, oh, now that there's"},{"startTime":1325.299,"endTime":1326.589,"body":"dating apps, I'm so much happier."},{"startTime":1327.384,"endTime":1330.624,"body":"Now that we've removed the human to"},{"startTime":1327.384,"endTime":1330.624,"body":"human part, nobody is saying that."},{"startTime":1330.624,"endTime":1333.924,"body":"Nobody says, oh, I go on Facebook"},{"startTime":1330.624,"endTime":1333.924,"body":"for an hour and I'm happier."},{"startTime":1334.134,"endTime":1338.064,"body":"It's very interesting how I see this"},{"startTime":1334.134,"endTime":1338.064,"body":"more and more, and this is why I'm"},{"startTime":1338.064,"endTime":1341.994,"body":"really against AI voice phone calls"},{"startTime":1338.064,"endTime":1341.994,"body":"and they're like, people only hang"},{"startTime":1341.994,"endTime":1343.284,"body":"up when they figure out it's an ai."},{"startTime":1343.284,"endTime":1346.314,"body":"I'm like, yeah, that means a"},{"startTime":1343.284,"endTime":1346.314,"body":"core, the core element of success"},{"startTime":1346.314,"endTime":1348.804,"body":"is deception, which is like, why"},{"startTime":1346.314,"endTime":1348.804,"body":"I don't work on this project."},{"startTime":1348.804,"endTime":1349.674,"body":"I get by those all the time."},{"startTime":1349.674,"endTime":1352.674,"body":"I go, I have a moral problem"},{"startTime":1349.674,"endTime":1352.674,"body":"with tricking people."},{"startTime":1353.304,"endTime":1354.264,"body":"As like a core thing."},{"startTime":1354.264,"endTime":1357.174,"body":"'cause once you, once someone figures"},{"startTime":1354.264,"endTime":1357.174,"body":"out they don't just become an audit"},{"startTime":1357.174,"endTime":1359.214,"body":"customer, now you have an enemy for life."},{"startTime":1359.244,"endTime":1362.664,"body":"Like you have a, you've created a"},{"startTime":1359.244,"endTime":1362.664,"body":"vendetta and it's so unnecessary."},{"startTime":1362.664,"endTime":1366.024,"body":"And it's like there's nothing wrong"},{"startTime":1362.664,"endTime":1366.024,"body":"with giving people jobs and like having"},{"startTime":1366.084,"endTime":1369.474,"body":"actual human protection on the phone and"},{"startTime":1366.084,"endTime":1369.474,"body":"like the human contact, like talking to"},{"startTime":1369.474,"endTime":1373.314,"body":"people on social media, get your support"},{"startTime":1369.474,"endTime":1373.314,"body":"emails, says how you find out something"},{"startTime":1373.314,"endTime":1376.554,"body":"is broken early or that people want and"},{"startTime":1373.314,"endTime":1376.554,"body":"the customers will say, oh, I really wish"},{"startTime":1376.554,"endTime":1377.814,"body":"had this feature, I'd pay more for it."},{"startTime":1378.564,"endTime":1379.614,"body":"I wanna get that message."},{"startTime":1379.614,"endTime":1381.144,"body":"I don't want that to"},{"startTime":1379.614,"endTime":1381.144,"body":"get lost in the shuffle."},{"startTime":1381.414,"endTime":1384.714,"body":"So I think that's really important"},{"startTime":1381.414,"endTime":1384.714,"body":"that we remember that the purpose"},{"startTime":1384.714,"endTime":1387.744,"body":"of AI is not to decrease human"},{"startTime":1384.714,"endTime":1387.744,"body":"and replace human connection."},{"startTime":1387.744,"endTime":1390.274,"body":"It's allow us to do more my favorite"},{"startTime":1387.744,"endTime":1390.274,"body":"thing, I was building a piece of"},{"startTime":1390.274,"endTime":1392.344,"body":"software the other week while I was"},{"startTime":1390.274,"endTime":1392.344,"body":"swimming with two of my daughters."},{"startTime":1392.344,"endTime":1394.264,"body":"I'd go over and give it a"},{"startTime":1392.344,"endTime":1394.264,"body":"command and program for 30"},{"startTime":1394.264,"endTime":1395.404,"body":"minutes while I was swimming."},{"startTime":1395.404,"endTime":1396.874,"body":"Then I'd come back and"},{"startTime":1395.404,"endTime":1396.874,"body":"do the next command."},{"startTime":1397.174,"endTime":1399.094,"body":"To me, that's the future I want."},{"startTime":1399.304,"endTime":1399.634,"body":"Yes."},{"startTime":1399.634,"endTime":1399.799,"body":"Not the one."},{"startTime":1400.264,"endTime":1403.654,"body":"I have the laptop, swim with my"},{"startTime":1400.264,"endTime":1403.654,"body":"daughters, and I'm inside programming."},{"startTime":1403.754,"endTime":1405.524,"body":"That's the wrong direction"},{"startTime":1403.754,"endTime":1405.524,"body":"that we're seeing."},{"startTime":1405.524,"endTime":1406.904,"body":"So I really love that."},{"startTime":1406.904,"endTime":1411.664,"body":"So for people who are trying to figure"},{"startTime":1406.904,"endTime":1411.664,"body":"out the investing space and wanna"},{"startTime":1411.664,"endTime":1415.354,"body":"learn more about their leadership"},{"startTime":1411.664,"endTime":1415.354,"body":"team, and by the way, I love that"},{"startTime":1415.384,"endTime":1416.224,"body":"you're answer to that question."},{"startTime":1416.264,"endTime":1417.669,"body":"I didn't mean to skip past it."},{"startTime":1417.669,"endTime":1421.269,"body":"Like I was thinking, I would wanna"},{"startTime":1417.669,"endTime":1421.269,"body":"know if I, was they investing in"},{"startTime":1421.269,"endTime":1423.939,"body":"a company, the leadership team use"},{"startTime":1421.269,"endTime":1423.939,"body":"chat GPT to answer their questions."},{"startTime":1423.939,"endTime":1425.824,"body":"That tells me right away, okay, I"},{"startTime":1423.939,"endTime":1425.824,"body":"don't wanna work with these people."},{"startTime":1426.454,"endTime":1429.364,"body":"Like I was trying to hire a"},{"startTime":1426.454,"endTime":1429.364,"body":"programmer recently and I could"},{"startTime":1429.364,"endTime":1432.454,"body":"see chat g PT reflected in his"},{"startTime":1429.364,"endTime":1432.454,"body":"glasses while he was doing answers."},{"startTime":1432.454,"endTime":1437.034,"body":"I was like, if you're gonna cheat"},{"startTime":1432.454,"endTime":1437.034,"body":"this is so insulting to me and it's"},{"startTime":1437.034,"endTime":1439.584,"body":"like we, you develop systems, right?"},{"startTime":1439.584,"endTime":1443.064,"body":"I, one of the most, I'm very good at"},{"startTime":1439.584,"endTime":1443.064,"body":"chat g pt, I can tell when you've used"},{"startTime":1443.064,"endTime":1444.954,"body":"a chat GPT word, I recognize its accent."},{"startTime":1444.954,"endTime":1446.514,"body":"It's gonna be a giveaway, right?"},{"startTime":1446.514,"endTime":1448.764,"body":"As soon as I say like in the"},{"startTime":1446.514,"endTime":1448.764,"body":"ever-changing digital landscape,"},{"startTime":1448.764,"endTime":1450.114,"body":"that's not a hu, nobody says that."},{"startTime":1450.324,"endTime":1452.274,"body":"Humans don't ponder,"},{"startTime":1450.324,"endTime":1452.274,"body":"we never say pondering."},{"startTime":1452.614,"endTime":1456.184,"body":"It always uses these certain words that"},{"startTime":1452.614,"endTime":1456.184,"body":"are giveaways, so it's I really love that."},{"startTime":1456.214,"endTime":1459.964,"body":"But for people who are realizing"},{"startTime":1456.214,"endTime":1459.964,"body":"that you need to be objective"},{"startTime":1459.964,"endTime":1460.984,"body":"with the leadership because it's,"},{"startTime":1461.224,"endTime":1461.374,"body":"yeah,"},{"startTime":1461.404,"endTime":1462.664,"body":"charisma is very powerful."},{"startTime":1462.904,"endTime":1465.034,"body":"Like you get yes, soul pulled"},{"startTime":1462.904,"endTime":1465.034,"body":"into someone's charisma."},{"startTime":1465.034,"endTime":1466.354,"body":"We saw this with Theranos."},{"startTime":1466.744,"endTime":1467.824,"body":"Everyone's there was no blood test."},{"startTime":1467.824,"endTime":1469.444,"body":"There was never a blood test,"},{"startTime":1467.824,"endTime":1469.444,"body":"but people kept doing it."},{"startTime":1469.444,"endTime":1470.884,"body":"We've seen it now with other companies."},{"startTime":1471.184,"endTime":1471.904,"body":"I love what you're doing."},{"startTime":1471.904,"endTime":1473.764,"body":"How can people find out more"},{"startTime":1471.904,"endTime":1473.764,"body":"about what you're doing?"},{"startTime":1473.764,"endTime":1476.524,"body":"See the Crucible, see your other projects."},{"startTime":1476.524,"endTime":1477.484,"body":"Where can they find you online?"},{"startTime":1477.484,"endTime":1479.164,"body":"What's the best place to connect"},{"startTime":1477.484,"endTime":1479.164,"body":"with you and see the amazing"},{"startTime":1479.164,"endTime":1479.914,"body":"things that you're doing."},{"startTime":1480.369,"endTime":1480.849,"body":"Yeah."},{"startTime":1480.899,"endTime":1486.869,"body":"The crucible.com is probably the"},{"startTime":1480.899,"endTime":1486.869,"body":"easiest place to come find us."},{"startTime":1486.899,"endTime":1488.579,"body":"The, my email's on there."},{"startTime":1488.579,"endTime":1491.009,"body":"It's justLindsay@thecrucible.com."},{"startTime":1492.269,"endTime":1495.719,"body":"I am, I'm very accessible,"},{"startTime":1492.269,"endTime":1495.719,"body":"as my husband would say."},{"startTime":1495.719,"endTime":1501.699,"body":"I answer everything and it's probably"},{"startTime":1495.719,"endTime":1501.699,"body":"to a problematic degree, but I think"},{"startTime":1501.699,"endTime":1506.469,"body":"that there's always connections that"},{"startTime":1501.699,"endTime":1506.469,"body":"can be made and insights that we"},{"startTime":1506.559,"endTime":1512.254,"body":"garner when we're open to engaging with"},{"startTime":1506.559,"endTime":1512.254,"body":"others, which again, doesn't happen"},{"startTime":1512.274,"endTime":1513.454,"body":"if you're doing everything through."},{"startTime":1514.449,"endTime":1520.209,"body":"AI agents, so yeah please reach out"},{"startTime":1514.449,"endTime":1520.209,"body":"and excited to share both what we're"},{"startTime":1520.209,"endTime":1525.219,"body":"doing and chat about the future of"},{"startTime":1520.209,"endTime":1525.219,"body":"how we can all improve the investing"},{"startTime":1525.219,"endTime":1527.469,"body":"landscape and make better companies."},{"startTime":1529.089,"endTime":1529.539,"body":"I love it."},{"startTime":1529.749,"endTime":1531.729,"body":"Put all the links to the show"},{"startTime":1529.749,"endTime":1531.729,"body":"notes are below the YouTube video."},{"startTime":1531.969,"endTime":1534.969,"body":"Thank you again so much for being here"},{"startTime":1531.969,"endTime":1534.969,"body":"today, Lindsay, for an amazing episode"},{"startTime":1535.239,"endTime":1537.399,"body":"of the Artificial Intelligence Podcast."},{"startTime":1537.739,"endTime":1539.809,"body":"Thank you for listening to"},{"startTime":1537.739,"endTime":1539.809,"body":"this week's episode of the"},{"startTime":1539.809,"endTime":1541.489,"body":"Artificial Intelligence Podcast."},{"startTime":1541.489,"endTime":1544.489,"body":"Make sure to subscribe so you"},{"startTime":1541.489,"endTime":1544.489,"body":"never miss another episode."},{"startTime":1544.519,"endTime":1547.429,"body":"We'll be back next Monday with"},{"startTime":1544.519,"endTime":1547.429,"body":"more tips and strategies on how to"},{"startTime":1547.429,"endTime":1550.459,"body":"leverage AI to grow your business"},{"startTime":1547.429,"endTime":1550.459,"body":"and achieve better results."},{"startTime":1550.549,"endTime":1554.149,"body":"In the meantime, if you're curious"},{"startTime":1550.549,"endTime":1554.149,"body":"about how AI can boost your business'"},{"startTime":1554.149,"endTime":1558.679,"body":"revenue, head over to artificial"},{"startTime":1554.149,"endTime":1558.679,"body":"intelligence pod.com/calculator."},{"startTime":1558.679,"endTime":1562.009,"body":"Use our AI revenue calculator"},{"startTime":1558.679,"endTime":1562.009,"body":"to discover the potential impact"},{"startTime":1562.009,"endTime":1564.049,"body":"AI can have on your bottom line."},{"startTime":1564.049,"endTime":1566.779,"body":"It's quick, easy, and"},{"startTime":1564.049,"endTime":1566.779,"body":"might just change the way."},{"startTime":1567.019,"endTime":1567.254,"body":"Think about your."},{"startTime":1567.649,"endTime":1570.529,"body":"Business while you're there,"},{"startTime":1567.649,"endTime":1570.529,"body":"catch up on past episodes."},{"startTime":1570.529,"endTime":1572.599,"body":"Leave a review and check out our socials."}]}