IoT Coffee Talk: Episode 326 - "From FCF to Debt" (Is it really different this time?)

[music] [music] >> Heat. >> Wow, that's an oldie >> Wow, that's an oldie ' 90s. '90s. ' 90s. '90s. ' 90s. '90s. >> It's 90s oldie. Of course, that's not >> It's 90s oldie. Of course, that's not >> It's 90s oldie. Of course, that's not oldie for us, obviously. It's kind of oldie for us, obviously. It's kind of oldie for us, obviously. It's kind of new for us. >> I love that song, man. And when it came >> I love that song, man. And when it came out, you know, people went bonkers. And out, you know, people went bonkers. And out, you know, people went bonkers. And you know, when it came out was um you know, when it came out was um you know, when it came out was um >> when I was >> when I was >> when I was >> What's that band? Is that Third Eye >> What's that band? Is that Third Eye >> What's that band? Is that Third Eye Blind? Is that Blind? Is that Blind? Is that >> All right. Okay. All right. >> All right. Okay. All right. >> All right. Okay. All right. >> You know, those were good times, man. >> You know, those were good times, man. >> You know, those were good times, man. >> Those were good times. Could we just go >> Those were good times. Could we just go >> Those were good times. Could we just go back to the 90s, please?

back to the 90s, please? back to the 90s, please? >> Yes, please. >> Yes, please. >> Yes, please. >> Yeah. I mean, I know we love the 80s, >> Yeah. I mean, I know we love the 80s, >> Yeah. I mean, I know we love the 80s, but you know, at least in the world, but you know, at least in the world, but you know, at least in the world, Wasn't the '9s fun in the world of tech? Wasn't the '9s fun in the world of tech? Wasn't the '9s fun in the world of tech? And And And >> it was it was the the birth the birth of >> it was it was the the birth the birth of >> it was it was the the birth the birth of the internet uh web browser at least the the internet uh web browser at least the the internet uh web browser at least the worldwide web was the '90s. worldwide web was the '90s. worldwide web was the '90s. >> Those are exciting times. >> Those are exciting times. >> Those are exciting times. >> Anything was you could order a Domino's >> Anything was you could order a Domino's >> Anything was you could order a Domino's pizza or watch a coffee pot, you know? pizza or watch a coffee pot, you know? pizza or watch a coffee pot, you know? >> Yeah. >> Yeah. >> Yeah. >> All these cool things you could do with >> All these cool things you could do with >> All these cool things you could do with the web. the web. the web. >> It was I I Yeah, it was just like >> It was I I Yeah, it was just like >> It was I I Yeah, it was just like discovery, excitement. So many new discovery, excitement. So many new discovery, excitement. So many new things were coming out. We're all and things were coming out. We're all and things were coming out. We're all and it's like no matter who you were talking it's like no matter who you were talking it's like no matter who you were talking about, it's like we're all just about, it's like we're all just about, it's like we're all just >> kids >> kids >> kids >> and we're emerging into this tech world >> and we're emerging into this tech world >> and we're emerging into this tech world and we're learning about the web and we're learning about the web and we're learning about the web >> possible >> possible >> possible >> and it was the the it was the rise of a >> and it was the the it was the rise of a >> and it was the the it was the rise of a few things at the same time you know it few things at the same time you know it few things at the same time you know it was the rise of Windows it was the rise was the rise of Windows it was the rise was the rise of Windows it was the rise of the web of the web of the web >> that's right you know >> that's right you know >> that's right you know >> Netscape I remember working as I worked >> Netscape I remember working as I worked >> Netscape I remember working as I worked for Phoenix Technologies the BIOS for Phoenix Technologies the BIOS for Phoenix Technologies the BIOS company and and I was kind of learning company and and I was kind of learning company and and I was kind of learning about the web on the side. And we about the web on the side. And we about the web on the side. And we actually create I created our company's actually create I created our company's actually create I created our company's first web page.

first web page. first web page. >> I remember my boss coming into my office >> I remember my boss coming into my office >> I remember my boss coming into my office at one point saying, "Why are you at one point saying, "Why are you at one point saying, "Why are you wasting your time with that internet wasting your time with that internet wasting your time with that internet stuff?" stuff?" stuff?" >> Yeah, it's a fad. [laughter] I remember >> Yeah, it's a fad. [laughter] I remember >> Yeah, it's a fad. [laughter] I remember >> like I don't know. It's just some some >> like I don't know. It's just some some >> like I don't know. It's just some some fad, you know, it's not going to catch fad, you know, it's not going to catch fad, you know, it's not going to catch on. I'll go I'll go back to firmware on. I'll go I'll go back to firmware on. I'll go I'll go back to firmware development. That's really where the development. That's really where the development. That's really where the action is. But action is. But action is. But >> that's where the action is. >> that's where the action is. >> that's where the action is. >> That's the future. >> That's the future. >> That's the future. >> It's the future. Firmware is the future. >> It's the future. Firmware is the future. >> It's the future. Firmware is the future. >> Remember front page? Did Did anybody >> Remember front page? Did Did anybody >> Remember front page? Did Did anybody >> Oh, yeah. Painful. painful. >> Oh, yeah. Painful. painful. >> Oh, yeah. Painful. painful. >> Yeah. By page. Um but that was, you >> Yeah. By page. Um but that was, you >> Yeah. By page. Um but that was, you know, I just think of those times and know, I just think of those times and know, I just think of those times and for me, you know, it was learning. It for me, you know, it was learning. It for me, you know, it was learning. It was like like when I I remember just was like like when I I remember just was like like when I I remember just studying like when I was on the studying like when I was on the studying like when I was on the submarine in the early '9s and I had my submarine in the early '9s and I had my submarine in the early '9s and I had my off time and I'm reading all these books off time and I'm reading all these books off time and I'm reading all these books >> and about like like when you said >> and about like like when you said >> and about like like when you said database back then, what you really were database back then, what you really were database back then, what you really were often talking about was a desktop often talking about was a desktop often talking about was a desktop database. That's what was hot back then. database. That's what was hot back then. database. That's what was hot back then. local database local database local database >> was a local Yeah. Yeah. There was >> was a local Yeah. Yeah. There was >> was a local Yeah. Yeah. There was access. There was access. There was access. There was >> uh dbase 3 plus [laughter] >> uh dbase 3 plus [laughter] >> uh dbase 3 plus [laughter] >> uh paradox uh box pro >> uh paradox uh box pro >> uh paradox uh box pro >> how big the boxes used to be when you go >> how big the boxes used to be when you go >> how big the boxes used to be when you go to like to like to like >> but you used to get lots of manuals >> but you used to get lots of manuals >> but you used to get lots of manuals instructions and told you like stretch instructions and told you like stretch instructions and told you like stretch the cardboard like it was like too much the cardboard like it was like too much the cardboard like it was like too much cardboard like couldn't the box couldn't cardboard like couldn't the box couldn't cardboard like couldn't the box couldn't handle the contents. It was too much handle the contents. It was too much handle the contents. It was too much cardboard.

cardboard. cardboard. >> It was too much. But I but I loved it. >> It was too much. But I but I loved it. >> It was too much. But I but I loved it. In fact, [laughter] In fact, [laughter] In fact, [laughter] as we moved into the future, the boxes as we moved into the future, the boxes as we moved into the future, the boxes got smaller and thinner and and pretty got smaller and thinner and and pretty got smaller and thinner and and pretty soon soon soon >> like a disc like the AOL discs that we >> like a disc like the AOL discs that we >> like a disc like the AOL discs that we got every week. [laughter] got every week. [laughter] got every week. [laughter] >> I just remember how exciting it was >> I just remember how exciting it was >> I just remember how exciting it was >> like and and it was geekland. I mean, we >> like and and it was geekland. I mean, we >> like and and it was geekland. I mean, we had all these cool computer stores had all these cool computer stores had all these cool computer stores everywhere back then. Remember the everywhere back then. Remember the everywhere back then. Remember the notion? Remember all the mom and pop notion? Remember all the mom and pop notion? Remember all the mom and pop computer stores where you would build computer stores where you would build computer stores where you would build your computer? Like they were your computer? Like they were your computer? Like they were everywhere. Yeah. At least my I'm sure everywhere. Yeah. At least my I'm sure everywhere. Yeah. At least my I'm sure they were were in California in my they were were in California in my they were were in California in my experience just in Seattle or the east experience just in Seattle or the east experience just in Seattle or the east side and they were all over the place side and they were all over the place side and they were all over the place and you'd like okay here's the hottest and you'd like okay here's the hottest and you'd like okay here's the hottest new graphics card with two me two meg of new graphics card with two me two meg of new graphics card with two me two meg of VRAM you know [laughter] VRAM you know [laughter] VRAM you know [laughter] >> and Vasa local bus it's going to be >> and Vasa local bus it's going to be >> and Vasa local bus it's going to be really fast and I just upgraded to 486 really fast and I just upgraded to 486 really fast and I just upgraded to 486 666 DX2 and I'm excited it's like a 666 DX2 and I'm excited it's like a 666 DX2 and I'm excited it's like a mainframe mainframe mainframe >> like computer land or whatever they were >> like computer land or whatever they were >> like computer land or whatever they were called. called. called. >> Yeah, there were there were there were a >> Yeah, there were there were there were a >> Yeah, there were there were there were a lot of them. I remember lot of them. I remember lot of them. I remember >> yeah I love MicroEnter um still around >> yeah I love MicroEnter um still around >> yeah I love MicroEnter um still around and and and >> and up and down like you'd have to know >> and up and down like you'd have to know >> and up and down like you'd have to know about Seattle up and down like Aurora about Seattle up and down like Aurora about Seattle up and down like Aurora there were all these computer places and there were all these computer places and there were all these computer places and they you build the computer and it was they you build the computer and it was they you build the computer and it was it was exciting to get to learn how to it was exciting to get to learn how to it was exciting to get to learn how to build a PC build a PC build a PC >> you know and see how it works cuz that >> you know and see how it works cuz that >> you know and see how it works cuz that was kind of fun was kind of fun was kind of fun >> well Fry Electronics was the granddaddy >> well Fry Electronics was the granddaddy >> well Fry Electronics was the granddaddy of those of those of those >> Yeah, >> you know see here's the thing this This >> you know see here's the thing this This is why we do bad karaoke

is why we do bad karaoke is why we do bad karaoke is because it inspires thoughts. It's is because it inspires thoughts. It's is because it inspires thoughts. It's nostalgic, right? You know, nostalgic, right? You know, nostalgic, right? You know, >> that one guitar riff just generated all >> that one guitar riff just generated all >> that one guitar riff just generated all this stuff. [laughter] this stuff. [laughter] this stuff. [laughter] >> Oh my gosh. Uh and you know, and for me, >> Oh my gosh. Uh and you know, and for me, >> Oh my gosh. Uh and you know, and for me, you know, personally, it was all about you know, personally, it was all about you know, personally, it was all about Visual Basic. And so before the web Visual Basic. And so before the web Visual Basic. And so before the web became a big thing, you had became a big thing, you had became a big thing, you had >> what was called client server computing. >> what was called client server computing. >> what was called client server computing. The rise of that. The rise of that. The rise of that. >> Yeah. Um, you know, at first, you know, >> Yeah. Um, you know, at first, you know, >> Yeah. Um, you know, at first, you know, before Microsoft even got into the before Microsoft even got into the before Microsoft even got into the server game with NT, you know, you you server game with NT, you know, you you server game with NT, you know, you you you saw the rise of Windows and Windows you saw the rise of Windows and Windows you saw the rise of Windows and Windows took off with 3.1, I think, was when it took off with 3.1, I think, was when it took off with 3.1, I think, was when it really launched in Stratosphere. really launched in Stratosphere. really launched in Stratosphere. >> Yeah. >> Yeah. >> Yeah. >> Uh, but you had Noel was the dominant >> Uh, but you had Noel was the dominant >> Uh, but you had Noel was the dominant networking company, Nobel Networks. And networking company, Nobel Networks. And networking company, Nobel Networks. And so you have some kind of client software so you have some kind of client software so you have some kind of client software on Windows 3.1 talking to Noville and uh on Windows 3.1 talking to Noville and uh on Windows 3.1 talking to Noville and uh you had MS mail um and you had to like you had MS mail um and you had to like you had MS mail um and you had to like map a novel drive. I don't know if it map a novel drive. I don't know if it map a novel drive. I don't know if it was like the H drive or the M drive for was like the H drive or the M drive for was like the H drive or the M drive for Microsoft mail to work. It was bonkers.

Microsoft mail to work. It was bonkers. Microsoft mail to work. It was bonkers. It would seem stupid to people today. It would seem stupid to people today. It would seem stupid to people today. >> It was I had a my cousin worked at >> It was I had a my cousin worked at >> It was I had a my cousin worked at Banyan Banyan Vines. Banyan Banyan Vines. Banyan Banyan Vines. >> Oh, Banyan Vines. Banyan Vines. >> Oh, Banyan Vines. Banyan Vines. >> Oh, Banyan Vines. Banyan Vines. >> That was like >> That was like >> That was like >> that was it for a while. >> that was it for a while. >> that was it for a while. That was the thing, man. Bang Vines was That was the thing, man. Bang Vines was That was the thing, man. Bang Vines was the dude. the dude. the dude. >> But you know what? I I was thinking um >> But you know what? I I was thinking um >> But you know what? I I was thinking um back then, back then, back then, um there was a lot of innovation going um there was a lot of innovation going um there was a lot of innovation going on. The pace of innovation was pretty on. The pace of innovation was pretty on. The pace of innovation was pretty feverish. feverish. feverish. >> You know, even though the internet was >> You know, even though the internet was >> You know, even though the internet was just forming, just forming, just forming, >> um people kind of brute force their >> um people kind of brute force their >> um people kind of brute force their knowledge attainment like what you did knowledge attainment like what you did knowledge attainment like what you did on the submarine. I was always at Barnes on the submarine. I was always at Barnes on the submarine. I was always at Barnes & Noble constantly. I mean, I was like & Noble constantly. I mean, I was like & Noble constantly. I mean, I was like in the computer section just reading up in the computer section just reading up in the computer section just reading up on everything on everything on everything >> and we had so many urgent because we >> and we had so many urgent because we >> and we had so many urgent because we were, you know, at the time we were were, you know, at the time we were were, you know, at the time we were doing kind of like frontier stuff like a doing kind of like frontier stuff like a doing kind of like frontier stuff like a forward deployed engineer has to do forward deployed engineer has to do forward deployed engineer has to do today, [laughter] today, [laughter] today, [laughter] right? right? right? >> You you have to figure out, you >> You you have to figure out, you >> You you have to figure out, you know? I know? I know? I >> just threw up in my mouth. Hang on.

>> just threw up in my mouth. Hang on. >> just threw up in my mouth. Hang on. Yeah. Yeah. Yeah. >> Yeah. As a forward deployed engineer, it >> Yeah. As a forward deployed engineer, it >> Yeah. As a forward deployed engineer, it wasn't always case that you knew all the wasn't always case that you knew all the wasn't always case that you knew all the answers. I mean if you did then answers. I mean if you did then answers. I mean if you did then >> you know um you wouldn't really be all >> you know um you wouldn't really be all >> you know um you wouldn't really be all that valuable and they would I mean back that valuable and they would I mean back that valuable and they would I mean back then they would they would hire you they then they would they would hire you they then they would they would hire you they would retain they would um you know uh would retain they would um you know uh would retain they would um you know uh give a project to uh the Ford deployed give a project to uh the Ford deployed give a project to uh the Ford deployed engineering company aka the consulting engineering company aka the consulting engineering company aka the consulting firm that firm that firm that >> could had like sort of a track record of >> could had like sort of a track record of >> could had like sort of a track record of innovating figuring things out innovating figuring things out innovating figuring things out especially for the dotcoms because the especially for the dotcoms because the especially for the dotcoms because the dotcoms didn't know what the hell they dotcoms didn't know what the hell they dotcoms didn't know what the hell they were doing. were doing. were doing. >> Mhm. >> Mhm. >> Mhm. >> And so, you know, you really had to be >> And so, you know, you really had to be >> And so, you know, you really had to be creative. You had to work through creative. You had to work through creative. You had to work through conventional conventional conventional um systems and ways of thinking to adapt um systems and ways of thinking to adapt um systems and ways of thinking to adapt all all this normal stuff into things all all this normal stuff into things all all this normal stuff into things that supported these new business that supported these new business that supported these new business paradigms and uh and support their paradigms and uh and support their paradigms and uh and support their innovation, right? Like e-commerce. I innovation, right? Like e-commerce. I innovation, right? Like e-commerce. I worked on a bunch of e-commerce stuff worked on a bunch of e-commerce stuff worked on a bunch of e-commerce stuff and these guys were doing stuff that was and these guys were doing stuff that was and these guys were doing stuff that was are you know pretty were pretty are you know pretty were pretty are you know pretty were pretty mindboggling. A lot of them didn't end mindboggling. A lot of them didn't end mindboggling. A lot of them didn't end up anywhere just like a lot of the AI up anywhere just like a lot of the AI up anywhere just like a lot of the AI stuff is not going to end up anywhere stuff is not going to end up anywhere stuff is not going to end up anywhere but there was that that there was that but there was that that there was that but there was that that there was that intensity man back then because there intensity man back then because there intensity man back then because there was a lot of money floating around. It was a lot of money floating around. It was a lot of money floating around. It was relatively smaller than what we see was relatively smaller than what we see was relatively smaller than what we see with the AI stuff, but it was the same with the AI stuff, but it was the same with the AI stuff, but it was the same >> same vibe, right?

>> same vibe, right? >> same vibe, right? >> Yeah. Everybody wanted to be in on the >> Yeah. Everybody wanted to be in on the >> Yeah. Everybody wanted to be in on the action, whatever the action was. And action, whatever the action was. And action, whatever the action was. And right, [clears throat] right, [clears throat] right, [clears throat] you know, you know, you know, >> there was I guess maybe there were >> there was I guess maybe there were >> there was I guess maybe there were multiple '90s or parallel multiveres of multiple '90s or parallel multiveres of multiple '90s or parallel multiveres of the '90s, because there's this time the '90s, because there's this time the '90s, because there's this time frame of just frame of just frame of just >> excitement around the primitive PC. We >> excitement around the primitive PC. We >> excitement around the primitive PC. We didn't know it was primitive. And the didn't know it was primitive. And the didn't know it was primitive. And the fact that you just had because obviously fact that you just had because obviously fact that you just had because obviously I ran DOSs for a lot of the 90s, right? I ran DOSs for a lot of the 90s, right? I ran DOSs for a lot of the 90s, right? >> Um and and DOSS was fun and all the DOSs >> Um and and DOSS was fun and all the DOSs >> Um and and DOSS was fun and all the DOSs games were fun and and games were fun and and games were fun and and >> you know, you had xree gold to look at >> you know, you had xree gold to look at >> you know, you had xree gold to look at all your file structures. Um and then all your file structures. Um and then all your file structures. Um and then Windows, the fact that you could run Windows, the fact that you could run Windows, the fact that you could run Windows with like two or four meg of RAM Windows with like two or four meg of RAM Windows with like two or four meg of RAM was amazing. Um, was amazing. Um, was amazing. Um, >> Windows 3.1 was like that was kind of >> Windows 3.1 was like that was kind of >> Windows 3.1 was like that was kind of like 89 90 and then you know the web was like 89 90 and then you know the web was like 89 90 and then you know the web was more like 93 94 I think. So more like 93 94 I think. So more like 93 94 I think. So >> that's right. But but but I guess what >> that's right. But but but I guess what >> that's right. But but but I guess what I'm getting at though is I'm getting at though is I'm getting at though is >> you know how you know how we talk about >> you know how you know how we talk about >> you know how you know how we talk about the futures here but it's not evenly the futures here but it's not evenly the futures here but it's not evenly distributed.

distributed. distributed. >> The the web had launched >> The the web had launched >> The the web had launched >> not everybody there was a lot of people >> not everybody there was a lot of people >> not everybody there was a lot of people that were move that were early 90s were that were move that were early 90s were that were move that were early 90s were doing desktop computing. I was excited doing desktop computing. I was excited doing desktop computing. I was excited that I had my what was the quick and and that I had my what was the quick and and that I had my what was the quick and and thought that was amazing thought that was amazing thought that was amazing on a PC and there was no such thing as a on a PC and there was no such thing as a on a PC and there was no such thing as a connecting to the internet or any of connecting to the internet or any of connecting to the internet or any of that. it was just there and you had a that. it was just there and you had a that. it was just there and you had a local local local >> um and then client server computing when >> um and then client server computing when >> um and then client server computing when Windows for workg groupoups came out Windows for workg groupoups came out Windows for workg groupoups came out that was exciting you know it was like that was exciting you know it was like that was exciting you know it was like all of a sudden I could have like five all of a sudden I could have like five all of a sudden I could have like five different computers on a network talking different computers on a network talking different computers on a network talking to each other this is the future you to each other this is the future you to each other this is the future you know it still wasn't and that wasn't the know it still wasn't and that wasn't the know it still wasn't and that wasn't the internet the internet had launched internet the internet had launched internet the internet had launched >> but there was still this other corporate >> but there was still this other corporate >> but there was still this other corporate world where they were like wow we may world where they were like wow we may world where they were like wow we may not have to use novel network you know not have to use novel network you know not have to use novel network you know and then you had but then at you're and then you had but then at you're and then you had but then at you're right pet at at the same time like 93 right pet at at the same time like 93 right pet at at the same time like 93 Windows NT launches Windows NT launches Windows NT launches >> and all of a sudden there's Microsoft's >> and all of a sudden there's Microsoft's >> and all of a sudden there's Microsoft's trying to get into the server game which trying to get into the server game which trying to get into the server game which was newish right and and it probably was newish right and and it probably was newish right and and it probably scared the hell out of novel scared the hell out of novel scared the hell out of novel >> and you were going we've got net buoy as >> and you were going we've got net buoy as >> and you were going we've got net buoy as our protocol [laughter] our protocol [laughter] our protocol [laughter] >> and banyan vines >> and banyan vines >> and banyan vines >> and banyan vines and those were not >> and banyan vines and those were not >> and banyan vines and those were not routable protocols like it could be just routable protocols like it could be just routable protocols like it could be just on a network segment and on a network segment and on a network segment and >> it was a while before this why in fact >> it was a while before this why in fact >> it was a while before this why in fact we have to don't we have to kind of we have to don't we have to kind of we have to don't we have to kind of really give credit to Windows 95 really give credit to Windows 95 really give credit to Windows 95 >> to bake in a lot of thing like just I >> to bake in a lot of thing like just I >> to bake in a lot of thing like just I know it sounds stupid baking in TCP IP know it sounds stupid baking in TCP IP know it sounds stupid baking in TCP IP >> in a and Windows 95 was a

>> in a and Windows 95 was a >> in a and Windows 95 was a >> I mean we can argue about it but at >> I mean we can argue about it but at >> I mean we can argue about it but at least initially it was a consumer least initially it was a consumer least initially it was a consumer product product product >> right >> right >> right >> people were buying Windows 95 for their >> people were buying Windows 95 for their >> people were buying Windows 95 for their home PC yeah and the fact that it had home PC yeah and the fact that it had home PC yeah and the fact that it had TCP IP it had a browser which would lead TCP IP it had a browser which would lead TCP IP it had a browser which would lead to a lawsuit later on and a whole bunch to a lawsuit later on and a whole bunch to a lawsuit later on and a whole bunch of other stuff that a consumer had and of other stuff that a consumer had and of other stuff that a consumer had and they're like, "Oh my god, they're like, "Oh my god, they're like, "Oh my god, >> yeah, >> yeah, >> yeah, >> this is, [clears throat] you know, >> this is, [clears throat] you know, >> this is, [clears throat] you know, >> this is crazy." >> this is crazy." >> this is crazy." >> I should have brought, if I knew we were >> I should have brought, if I knew we were >> I should have brought, if I knew we were going to do this, I have like uh issue going to do this, I have like uh issue going to do this, I have like uh issue number one of Wired Magazine, number one of Wired Magazine, number one of Wired Magazine, >> my little collection because I used to >> my little collection because I used to >> my little collection because I used to be I loved Wired magazine and that was be I loved Wired magazine and that was be I loved Wired magazine and that was like early 90s, '92, '93. That was like like early 90s, '92, '93. That was like like early 90s, '92, '93. That was like FTP and all kinds of stuff. Yeah, you FTP and all kinds of stuff. Yeah, you FTP and all kinds of stuff. Yeah, you can see in the issues the early issues can see in the issues the early issues can see in the issues the early issues where the web becomes like a thing like where the web becomes like a thing like where the web becomes like a thing like they shifted [clears throat] computer they shifted [clears throat] computer they shifted [clears throat] computer and FTP into like and FTP into like and FTP into like >> www and like how everyone's head was >> www and like how everyone's head was >> www and like how everyone's head was like exploding on all the possibilities like exploding on all the possibilities like exploding on all the possibilities of the web of the web of the web >> at that time mid early 90s 93 >> at that time mid early 90s 93 >> at that time mid early 90s 93 >> there were some there were some guys I >> there were some there were some guys I >> there were some there were some guys I don't know if it was in wired or infow don't know if it was in wired or infow don't know if it was in wired or infow world because and those are the days of world because and those are the days of world because and those are the days of those great magazines those great magazines those great magazines >> remember some of them were like really >> remember some of them were like really >> remember some of them were like really big computer magazine really like a like big computer magazine really like a like big computer magazine really like a like a a a >> Yeah. And you were like, "Yes, the new >> Yeah. And you were like, "Yes, the new >> Yeah. And you were like, "Yes, the new one's out. I can hardly wait to find one's out. I can hardly wait to find one's out. I can hardly wait to find out. I hear in the future there's going out. I hear in the future there's going out. I hear in the future there's going to be this thing called 32-bit to be this thing called 32-bit to be this thing called 32-bit computing. I don't even know what that computing. I don't even know what that computing. I don't even know what that means, but it's going to be awesome."

means, but it's going to be awesome." means, but it's going to be awesome." [laughter] And and and there was some [laughter] And and and there was some [laughter] And and and there was some guy early on they're talking about I guy early on they're talking about I guy early on they're talking about I remember they referred to this new remember they referred to this new remember they referred to this new internet thing as the info bomb. Kind of internet thing as the info bomb. Kind of internet thing as the info bomb. Kind of like the autobond. I remember I remember like the autobond. I remember I remember like the autobond. I remember I remember different writers in those in PC world different writers in those in PC world different writers in those in PC world or info world or whatever talking about or info world or whatever talking about or info world or whatever talking about the info bond is coming and it's going the info bond is coming and it's going the info bond is coming and it's going to be incredible. We'll probably have to be incredible. We'll probably have to be incredible. We'll probably have 100 computers attached. 100 computers attached. 100 computers attached. >> Yeah, it was exciting. And so you had >> Yeah, it was exciting. And so you had >> Yeah, it was exciting. And so you had desktop, you had desktop everything, desktop, you had desktop everything, desktop, you had desktop everything, then you had this client server in the then you had this client server in the then you had this client server in the corporate world. uh you you went from corporate world. uh you you went from corporate world. uh you you went from Nobel to the rise of Windows NT as a Nobel to the rise of Windows NT as a Nobel to the rise of Windows NT as a backend and you started putting backend backend and you started putting backend backend and you started putting backend stuff in client server stuff in in stuff in client server stuff in in stuff in client server stuff in in corporate computing databases typically corporate computing databases typically corporate computing databases typically uh the and then web servers. Oh my god, uh the and then web servers. Oh my god, uh the and then web servers. Oh my god, I have a web server right there. I have a web server right there. I have a web server right there. >> And storage database and storage that >> And storage database and storage that >> And storage database and storage that was was was >> Yeah, absolutely. Just the fact that >> Yeah, absolutely. Just the fact that >> Yeah, absolutely. Just the fact that Pete's making a web page, it's like look Pete's making a web page, it's like look Pete's making a web page, it's like look what we did, what we did, what we did, >> you know? That's awesome. Who's going to >> you know? That's awesome. Who's going to >> you know? That's awesome. Who's going to visit that? No one's going to visit visit that? No one's going to visit visit that? No one's going to visit that.

that. that. >> No. Who's who, you know, of the 100,000 >> No. Who's who, you know, of the 100,000 >> No. Who's who, you know, of the 100,000 websites on the whole planet, who's websites on the whole planet, who's websites on the whole planet, who's going to visit? going to visit? going to visit? >> Yeah. Really? You know, [laughter] >> Yeah. Really? You know, [laughter] >> Yeah. Really? You know, [laughter] >> you know what? You know what's really >> you know what? You know what's really >> you know what? You know what's really interesting cuz I I you know um I I was interesting cuz I I you know um I I was interesting cuz I I you know um I I was in Deer Valley um talking to investors in Deer Valley um talking to investors in Deer Valley um talking to investors and you know that um Kang gets together and you know that um Kang gets together and you know that um Kang gets together some really amazing industry leaders um some really amazing industry leaders um some really amazing industry leaders um from across tech and we were talking from across tech and we were talking from across tech and we were talking about about about you know the impact of uh the internet you know the impact of uh the internet you know the impact of uh the internet because everyone's talking about when's because everyone's talking about when's because everyone's talking about when's the bubble going to pop right? Um the bubble going to pop right? Um the bubble going to pop right? Um there's no question there's a bubble. there's no question there's a bubble. there's no question there's a bubble. People who don't think there is a bubble People who don't think there is a bubble People who don't think there is a bubble are truly are truly are truly >> in the bubble. They are the bubble. >> in the bubble. They are the bubble. >> in the bubble. They are the bubble. >> New glasses. >> New glasses. >> New glasses. >> Yeah. [laughter] >> Yeah. [laughter] >> Yeah. [laughter] >> Because you know what is it this week? >> Because you know what is it this week? >> Because you know what is it this week? What what is it that uh Jensen? What what is it that uh Jensen? What what is it that uh Jensen? >> Oh, the Goldman Sachs thing. Don't get >> Oh, the Goldman Sachs thing. Don't get >> Oh, the Goldman Sachs thing. Don't get me started. Holy crapers. me started. Holy crapers. me started. Holy crapers. >> You know, we're officially debt funding. >> You know, we're officially debt funding. >> You know, we're officially debt funding. They are officially debt funding They are officially debt funding They are officially debt funding everything because you know like last everything because you know like last everything because you know like last year year year >> the the the holdouts, right? AI bubble >> the the the holdouts, right? AI bubble >> the the the holdouts, right? AI bubble holdouts are saying, "Well, this is all holdouts are saying, "Well, this is all holdouts are saying, "Well, this is all equity and cash flow, you know, equity and cash flow, you know, equity and cash flow, you know, supported by, you know, cash flows from supported by, you know, cash flows from supported by, you know, cash flows from hyperscalers. Guess what these guys?"

hyperscalers. Guess what these guys?" hyperscalers. Guess what these guys?" >> No, it's not. It's not. It's all Yeah. I >> No, it's not. It's not. It's all Yeah. I >> No, it's not. It's not. It's all Yeah. I mean, just I had a a little riff on that mean, just I had a a little riff on that mean, just I had a a little riff on that was that basically what Jensen did. He was that basically what Jensen did. He was that basically what Jensen did. He said a couple things that kind of got me said a couple things that kind of got me said a couple things that kind of got me agitated. agitated. agitated. >> Oh So, we triggered This is truly >> Oh So, we triggered This is truly >> Oh So, we triggered This is truly triggering you. triggering you. triggering you. >> It triggered me. But the So, the deal is >> It triggered me. But the So, the deal is >> It triggered me. But the So, the deal is this. this. this. >> Wait a minute. Before we get into it, >> Wait a minute. Before we get into it, >> Wait a minute. Before we get into it, hey everyone, welcome to Coffee Talk. hey everyone, welcome to Coffee Talk. hey everyone, welcome to Coffee Talk. >> Disclaimer, >> Disclaimer, >> Disclaimer, >> here only to have fun. Take it seriously >> here only to have fun. Take it seriously >> here only to have fun. Take it seriously at your own dire risk and whatever Pete at your own dire risk and whatever Pete at your own dire risk and whatever Pete says right now. says right now. says right now. >> Uh, you know, just, you know, he has the >> Uh, you know, just, you know, he has the >> Uh, you know, just, you know, he has the right to be right to be right to be >> it's it's for entertainment purposes >> it's it's for entertainment purposes >> it's it's for entertainment purposes only. only. only. >> And full disclosure, I I am a >> And full disclosure, I I am a >> And full disclosure, I I am a shareholder in Nvidia, so just full shareholder in Nvidia, so just full shareholder in Nvidia, so just full disclosure. But disclosure. But disclosure. But >> there you go. >> there you go. >> there you go. >> But here's the issue. It's like >> But here's the issue. It's like >> But here's the issue. It's like basically like you said, it's moving basically like you said, it's moving basically like you said, it's moving from cash to debt. So he basically he's from cash to debt. So he basically he's from cash to debt. So he basically he's saying look if you have like bad credit saying look if you have like bad credit saying look if you have like bad credit low credit no credit you know if you if low credit no credit you know if you if low credit no credit you know if you if you kidnap someone if you murdered you kidnap someone if you murdered you kidnap someone if you murdered someone doesn't matter we will lend you someone doesn't matter we will lend you someone doesn't matter we will lend you money to buy to build a data center you money to buy to build a data center you money to buy to build a data center you know we love no credit you know thing know we love no credit you know thing know we love no credit you know thing it's like burn funk you know of the data it's like burn funk you know of the data it's like burn funk you know of the data center world so it's like we will lend center world so it's like we will lend center world so it's like we will lend you like and Goldman Sachs will lend you you like and Goldman Sachs will lend you you like and Goldman Sachs will lend you money to build a data center and then money to build a data center and then money to build a data center and then Nvidia will back up will back up that Nvidia will back up will back up that Nvidia will back up will back up that loan right in case you bail right that's loan right in case you bail right that's loan right in case you bail right that's kind of part of the deal. And and so so kind of part of the deal. And and so so kind of part of the deal. And and so so now there's going to be these low now there's going to be these low now there's going to be these low interest loans, you know, no money down, interest loans, you know, no money down, interest loans, you know, no money down, you know, data build $50 a month for the you know, data build $50 a month for the you know, data build $50 a month for the next 3,000 years or whatever the terms next 3,000 years or whatever the terms next 3,000 years or whatever the terms are. And then what's that? So that's are. And then what's that? So that's are. And then what's that? So that's crazy. And then um and obviously I'm

crazy. And then um and obviously I'm crazy. And then um and obviously I'm exaggerating a little bit, but that's exaggerating a little bit, but that's exaggerating a little bit, but that's essentially what it is. Nvidia is essentially what it is. Nvidia is essentially what it is. Nvidia is backstopping the loans to build data backstopping the loans to build data backstopping the loans to build data centers. Now here's the here's the centers. Now here's the here's the centers. Now here's the here's the hitch. Like you have to use NVIDIA chips hitch. Like you have to use NVIDIA chips hitch. Like you have to use NVIDIA chips in your data center, in your data center, in your data center, >> right? So that's probably like the terms >> right? So that's probably like the terms >> right? So that's probably like the terms of the loan is like oh you get to loan. of the loan is like oh you get to loan. of the loan is like oh you get to loan. So so that's like a weird thing where So so that's like a weird thing where So so that's like a weird thing where it's like okay I'm going to loan you it's like okay I'm going to loan you it's like okay I'm going to loan you money to build a data center. Nvidia is money to build a data center. Nvidia is money to build a data center. Nvidia is backstopping it but you need to use backstopping it but you need to use backstopping it but you need to use Nvidia systems Nvidia systems Nvidia systems >> in your data center. So I was like I >> in your data center. So I was like I >> in your data center. So I was like I don't know if that's anti-competitive or don't know if that's anti-competitive or don't know if that's anti-competitive or what's going on there. So what's going on there. So what's going on there. So >> that is funky. And then the other thing >> that is funky. And then the other thing >> that is funky. And then the other thing that he said so that that smells it has that he said so that that smells it has that he said so that that smells it has a certain whiff to it which I don't a certain whiff to it which I don't a certain whiff to it which I don't like. like. like. >> And then the other thing is saying like >> And then the other thing is saying like >> And then the other thing is saying like oh now chips chips are now a tradable oh now chips chips are now a tradable oh now chips chips are now a tradable commodity or something like that. commodity or something like that. commodity or something like that. Investable investable assets assets Investable investable assets assets Investable investable assets assets >> investable asset. I'm like what are you >> investable asset. I'm like what are you >> investable asset. I'm like what are you talking about? Like talking about? Like talking about? Like >> the chip itself is is useless, right? It >> the chip itself is is useless, right? It >> the chip itself is is useless, right? It has to be part of a system as sol has to has to be part of a system as sol has to has to be part of a system as sol has to be part of a business that makes money. be part of a business that makes money. be part of a business that makes money. That's the asset that you're investing That's the asset that you're investing That's the asset that you're investing in, right? in, right? in, right? >> So, so that kind of bothered me too. >> So, so that kind of bothered me too. >> So, so that kind of bothered me too. Like he's invented this new idea of like Like he's invented this new idea of like Like he's invented this new idea of like investing in chips or something. Well, investing in chips or something. Well, investing in chips or something. Well, the the problem, by the way, I I don't the the problem, by the way, I I don't the the problem, by the way, I I don't think I've ever seen Pete uh, you know, think I've ever seen Pete uh, you know, think I've ever seen Pete uh, you know, talk so loud and so fast talk so loud and so fast talk so loud and so fast >> in my life. Rob, what are you agitated? I'm I'm riled up. No, no money agitated? I'm I'm riled up. No, no money down. No money down.

down. No money down. down. No money down. >> Seen this before. He's seen this used >> Seen this before. He's seen this used >> Seen this before. He's seen this used car ad before. car ad before. car ad before. >> Burn. >> Burn. >> Burn. >> I don't care. Yeah. Yeah. >> I don't care. Yeah. Yeah. >> I don't care. Yeah. Yeah. >> [clears throat] >> [clears throat] >> [clears throat] >> But he's b I mean you know a lot of the >> But he's b I mean you know a lot of the >> But he's b I mean you know a lot of the narrative is banking on just general narrative is banking on just general narrative is banking on just general ignorance of people and I have to say ignorance of people and I have to say ignorance of people and I have to say ignorant people who uh don't see simil ignorant people who uh don't see simil ignorant people who uh don't see simil you know patterns of the past or have you know patterns of the past or have you know patterns of the past or have misinterpreted patterns of the past misinterpreted patterns of the past misinterpreted patterns of the past going back to like internet the.com bust going back to like internet the.com bust going back to like internet the.com bust and when I hear the analogies and the and when I hear the analogies and the and when I hear the analogies and the simileies that are used to you know simileies that are used to you know simileies that are used to you know create the argument it's different this create the argument it's different this create the argument it's different this time you you listen to that argument you time you you listen to that argument you time you you listen to that argument you clearly understand that that person has clearly understand that that person has clearly understand that that person has didn't live it. They just read it. didn't live it. They just read it. didn't live it. They just read it. Somebody gave them a tagline and that's Somebody gave them a tagline and that's Somebody gave them a tagline and that's what they attached to and that's what what they attached to and that's what what they attached to and that's what shaped their belief and view on things shaped their belief and view on things shaped their belief and view on things and then it becomes very colored from and then it becomes very colored from and then it becomes very colored from that point on right and then you know that point on right and then you know that point on right and then you know disconnected from what we actually disconnected from what we actually disconnected from what we actually experienced and then actually and what experienced and then actually and what experienced and then actually and what happened because you know they they happened because you know they they happened because you know they they don't realize how devastating the dot don't realize how devastating the dot don't realize how devastating the dot >> [clears throat] >> [clears throat] >> [clears throat] >> crash was, you know, you were you would >> crash was, you know, you were you would >> crash was, you know, you were you would go to Mountain View and every single go to Mountain View and every single go to Mountain View and every single corner [clears throat] you would see corner [clears throat] you would see corner [clears throat] you would see dozens of for sale signs. I mean, it was dozens of for sale signs. I mean, it was dozens of for sale signs. I mean, it was like like like >> Oh, yeah. And the roads were empty.

>> Oh, yeah. And the roads were empty. >> Oh, yeah. And the roads were empty. There was no traffic. There was no no There was no traffic. There was no no There was no traffic. There was no no traffic on the road. traffic on the road. traffic on the road. >> Traffic. You can get to you can go from >> Traffic. You can get to you can go from >> Traffic. You can get to you can go from Palo Alto Palo Alto Palo Alto >> like a nuclear winter. >> like a nuclear winter. >> like a nuclear winter. >> Yeah. SJC in 25 minutes before it would >> Yeah. SJC in 25 minutes before it would >> Yeah. SJC in 25 minutes before it would take you 2 hours. And take you 2 hours. And take you 2 hours. And >> nobody People don't realize, people >> nobody People don't realize, people >> nobody People don't realize, people don't realize how much money was lost. don't realize how much money was lost. don't realize how much money was lost. How many people How many people How many people >> all I mean the stories we could talk >> all I mean the stories we could talk >> all I mean the stories we could talk about the devastation those of us who about the devastation those of us who about the devastation those of us who lived through it who did doss lived through it who did doss lived through it who did doss >> who found out they were working for free >> who found out they were working for free >> who found out they were working for free and who like all their savings was gone and who like all their savings was gone and who like all their savings was gone and investments gone and and worked with and investments gone and and worked with and investments gone and and worked with I remember people at my.com that I was I remember people at my.com that I was I remember people at my.com that I was at at at >> and and you know what was sad is we >> and and you know what was sad is we >> and and you know what was sad is we didn't know that the end was happening didn't know that the end was happening didn't know that the end was happening like in the moment you think and we like in the moment you think and we like in the moment you think and we probably talked about this before I probably talked about this before I probably talked about this before I remember obviously the end happened in remember obviously the end happened in remember obviously the end happened in uh I think was it March, April of 2000 uh I think was it March, April of 2000 uh I think was it March, April of 2000 when all the term sheets got torn up when all the term sheets got torn up when all the term sheets got torn up >> and uh I but I remember at the time it >> and uh I but I remember at the time it >> and uh I but I remember at the time it was like oh everybody's just like oh was like oh everybody's just like oh was like oh everybody's just like oh it's just a little weird patch right now it's just a little weird patch right now it's just a little weird patch right now I think by later in the summer we'll be I think by later in the summer we'll be I think by later in the summer we'll be good we'll be we'll be back in it baby good we'll be we'll be back in it baby good we'll be we'll be back in it baby you know more fundraising and then all you know more fundraising and then all you know more fundraising and then all of a sudden the fundraising it just of a sudden the fundraising it just of a sudden the fundraising it just stopped and the VCs just turn off the stopped and the VCs just turn off the stopped and the VCs just turn off the spigot maybe they finally listen to spigot maybe they finally listen to spigot maybe they finally listen to Warren Buffett who's like I don't Warren Buffett who's like I don't Warren Buffett who's like I don't understand or believe in any of this understand or believe in any of this understand or believe in any of this stuff [laughter] stuff [laughter] stuff [laughter] And it and then it was over. And I had I And it and then it was over. And I had I And it and then it was over. And I had I had people that I knew who had people that I knew who had people that I knew who put up their life savings to help put up their life savings to help put up their life savings to help companies make payroll.

companies make payroll. companies make payroll. >> Yeah. >> Yeah. >> Yeah. >> Of dots only to make payroll and then >> Of dots only to make payroll and then >> Of dots only to make payroll and then the company still goes out of business the company still goes out of business the company still goes out of business and they've lost everything. It was and they've lost everything. It was and they've lost everything. It was >> dangerous. What didn't Jensen say? >> dangerous. What didn't Jensen say? >> dangerous. What didn't Jensen say? Investable assets just like railroads. Investable assets just like railroads. Investable assets just like railroads. >> Yes. Just like >> Yes. Just like >> Yes. Just like >> How did that work out? The railroad. >> How did that work out? The railroad. >> How did that work out? The railroad. >> Yeah. Well, you know, he's citing >> Yeah. Well, you know, he's citing >> Yeah. Well, you know, he's citing everything where people had a FOMO bet everything where people had a FOMO bet everything where people had a FOMO bet on it and then it all collapsed. It's on it and then it all collapsed. It's on it and then it all collapsed. It's like, okay, so like, okay, so like, okay, so >> if you have to if you have to if you >> if you have to if you have to if you >> if you have to if you have to if you have to sort of have to sort of have to sort of uh I want to say rig the system, but if uh I want to say rig the system, but if uh I want to say rig the system, but if you have to sort of push the system to you have to sort of push the system to you have to sort of push the system to create low interest loans for your create low interest loans for your create low interest loans for your product, you're in trouble. Not a good product, you're in trouble. Not a good product, you're in trouble. Not a good sign. There should be enough demand from sign. There should be enough demand from sign. There should be enough demand from the customer the customer the customer >> where there's interest, they should be >> where there's interest, they should be >> where there's interest, they should be falling over themselves to make these falling over themselves to make these falling over themselves to make these loans. loans. loans. Does it seem like does he seem like Does it seem like does he seem like Does it seem like does he seem like Jensen is he like a Jedi? Does he have Jensen is he like a Jedi? Does he have Jensen is he like a Jedi? Does he have the force kind of powers? Cuz like it the force kind of powers? Cuz like it the force kind of powers? Cuz like it feels like he can hypnotize people feels like he can hypnotize people feels like he can hypnotize people >> and believing everything that comes cuz >> and believing everything that comes cuz >> and believing everything that comes cuz obviously the smartest people in the obviously the smartest people in the obviously the smartest people in the world and the savviest financial people world and the savviest financial people world and the savviest financial people on Wall Street are all hypnotized by on Wall Street are all hypnotized by on Wall Street are all hypnotized by Jensen.

Jensen. Jensen. >> Well, although you look at it from like >> Well, although you look at it from like >> Well, although you look at it from like a Goldman Sachs side, it's like, well, a Goldman Sachs side, it's like, well, a Goldman Sachs side, it's like, well, there's not much downside for them. there's not much downside for them. there's not much downside for them. They're like, yeah, we'll make these They're like, yeah, we'll make these They're like, yeah, we'll make these loans, you're going to back it up and uh loans, you're going to back it up and uh loans, you're going to back it up and uh we'll make money either way, right? So we'll make money either way, right? So we'll make money either way, right? So unless there's a big default in which unless there's a big default in which unless there's a big default in which case Nvidia backs it up, you know, so I case Nvidia backs it up, you know, so I case Nvidia backs it up, you know, so I don't think there's downside for Goldman don't think there's downside for Goldman don't think there's downside for Goldman Sachs to attach themselves to Nvidia at Sachs to attach themselves to Nvidia at Sachs to attach themselves to Nvidia at this point. this point. this point. >> Well, they have like the whole, you >> Well, they have like the whole, you >> Well, they have like the whole, you know, so when that announcement was know, so when that announcement was know, so when that announcement was made, there [clears throat] was a lot of made, there [clears throat] was a lot of made, there [clears throat] was a lot of talk about, you know, credit default, talk about, you know, credit default, talk about, you know, credit default, uh, you know, uh, swaps and options and uh, you know, uh, swaps and options and uh, you know, uh, swaps and options and stuff like that. So they've created, um, stuff like that. So they've created, um, stuff like that. So they've created, um, some, uh, derivatives. So there is an some, uh, derivatives. So there is an some, uh, derivatives. So there is an escape valve for some of this. But the escape valve for some of this. But the escape valve for some of this. But the thing is is whoever is making the bet thing is is whoever is making the bet thing is is whoever is making the bet are going to lose tremendously. It's are going to lose tremendously. It's are going to lose tremendously. It's these these short sellers, the people these these short sellers, the people these these short sellers, the people who are who are banking on um you know who are who are banking on um you know who are who are banking on um you know everything going to the toilet. They're everything going to the toilet. They're everything going to the toilet. They're the ones who are going to who are going the ones who are going to who are going the ones who are going to who are going to make off like bandits, right? All I to make off like bandits, right? All I to make off like bandits, right? All I know is we should start writing the know is we should start writing the know is we should start writing the script now for a new movie that's kind script now for a new movie that's kind script now for a new movie that's kind of like the big short, but it's about of like the big short, but it's about of like the big short, but it's about what's about to happen and we see it and what's about to happen and we see it and what's about to happen and we see it and we know it's going to happen and let's we know it's going to happen and let's we know it's going to happen and let's have the script ready for Hollywood have the script ready for Hollywood have the script ready for Hollywood >> cuz it's going to be the same thing, you >> cuz it's going to be the same thing, you >> cuz it's going to be the same thing, you know. And you made a comment there, know. And you made a comment there, know. And you made a comment there, Pete. It's like like Goldman has no Pete. It's like like Goldman has no Pete. It's like like Goldman has no downside unless Nvidia defaults. Nvidia downside unless Nvidia defaults. Nvidia downside unless Nvidia defaults. Nvidia is the back stop to everything.

is the back stop to everything. is the back stop to everything. >> Yeah. And if the hyperscalers >> Yeah. And if the hyperscalers >> Yeah. And if the hyperscalers the hyperscalers are the primary funders the hyperscalers are the primary funders the hyperscalers are the primary funders of Nvidia's wealth, [clears throat] of Nvidia's wealth, [clears throat] of Nvidia's wealth, [clears throat] they're they're the ones who had all the they're they're the ones who had all the they're they're the ones who had all the money. Yeah. And this whole journey money. Yeah. And this whole journey money. Yeah. And this whole journey we've been on and it's not like it's we've been on and it's not like it's we've been on and it's not like it's been a long time. It seems like it has, been a long time. It seems like it has, been a long time. It seems like it has, but it hasn't. but it hasn't. but it hasn't. >> Few years. Just a few years. >> Few years. Just a few years. >> Few years. Just a few years. >> Yeah. A few years. The hyperscalers had >> Yeah. A few years. The hyperscalers had >> Yeah. A few years. The hyperscalers had a lot of c. It all started. We have tons a lot of c. It all started. We have tons a lot of c. It all started. We have tons of cash on hand because we have more of cash on hand because we have more of cash on hand because we have more money than god. And so we're buying all money than god. And so we're buying all money than god. And so we're buying all of a sudden you went from a video game of a sudden you went from a video game of a sudden you went from a video game video graphics card guy to you know video graphics card guy to you know video graphics card guy to you know doing this AI stuff and then uh and so doing this AI stuff and then uh and so doing this AI stuff and then uh and so all of a sudden he's going up there and all of a sudden he's going up there and all of a sudden he's going up there and oh now we're worth a trillion now it's oh now we're worth a trillion now it's oh now we're worth a trillion now it's two trillion of it and all that money two trillion of it and all that money two trillion of it and all that money was coming from hyperscalers was coming from hyperscalers was coming from hyperscalers >> and then we've seen you're right now we >> and then we've seen you're right now we >> and then we've seen you're right now we got debt financing happening I think I got debt financing happening I think I got debt financing happening I think I remember the first time I heard about it remember the first time I heard about it remember the first time I heard about it in a big way was Oracle uh doing a lot in a big way was Oracle uh doing a lot in a big way was Oracle uh doing a lot of debt financing and then you started of debt financing and then you started of debt financing and then you started hearing about the layoffs. In fact, I hearing about the layoffs. In fact, I hearing about the layoffs. In fact, I think yesterday I saw Oracle decided think yesterday I saw Oracle decided think yesterday I saw Oracle decided we're gonna have to lay off even more we're gonna have to lay off even more we're gonna have to lay off even more people than we did last time because we people than we did last time because we people than we did last time because we don't have enough.

don't have enough. don't have enough. >> Yeah. And so we're trading people for >> Yeah. And so we're trading people for >> Yeah. And so we're trading people for GPUs. We're doing debt financing. We GPUs. We're doing debt financing. We GPUs. We're doing debt financing. We burn through the cash on hand. And so burn through the cash on hand. And so burn through the cash on hand. And so now, and what else are we seeing? now, and what else are we seeing? now, and what else are we seeing? Secondary offerings. All these companies Secondary offerings. All these companies Secondary offerings. All these companies now are issuing new stock and diluting now are issuing new stock and diluting now are issuing new stock and diluting their stock price. All of them are. their stock price. All of them are. their stock price. All of them are. Intel just did. They're all Intel just did. They're all Intel just did. They're all >> except Microsoft. Except Microsoft. >> except Microsoft. Except Microsoft. >> except Microsoft. Except Microsoft. >> Except for Microsoft. Yeah. And so >> Except for Microsoft. Yeah. And so >> Except for Microsoft. Yeah. And so that's why they're trading at 500 that's why they're trading at 500 that's why they're trading at 500 because they know how to run their because they know how to run their because they know how to run their business. business. business. >> You can tell they kind of changed their >> You can tell they kind of changed their >> You can tell they kind of changed their attitude on the infrastructure attitude on the infrastructure attitude on the infrastructure investment and strategy. It it they are investment and strategy. It it they are investment and strategy. It it they are they're in pivot mode right now. You can they're in pivot mode right now. You can they're in pivot mode right now. You can tell tell tell >> um they're >> um they're >> um they're >> all these guys are sitting in meeting >> all these guys are sitting in meeting >> all these guys are sitting in meeting rooms right now. They're in boardrooms rooms right now. They're in boardrooms rooms right now. They're in boardrooms deciding and they're saying and some deciding and they're saying and some deciding and they're saying and some people are talking to him going, "I people are talking to him going, "I people are talking to him going, "I don't know about this, Bob. I don't know don't know about this, Bob. I don't know don't know about this, Bob. I don't know if this is a good idea. we're laying off if this is a good idea. we're laying off if this is a good idea. we're laying off everybody and we're going into all this everybody and we're going into all this everybody and we're going into all this debt and we're issuing and what if it debt and we're issuing and what if it debt and we're issuing and what if it all doesn't work out? And then there's all doesn't work out? And then there's all doesn't work out? And then there's the other side. It's like we have to the other side. It's like we have to the other side. It's like we have to meet the moment, this AI moment. If we meet the moment, this AI moment. If we meet the moment, this AI moment. If we don't, we'll be a nobody, a backwater don't, we'll be a nobody, a backwater don't, we'll be a nobody, a backwater company. And so we we have to do it.

company. And so we we have to do it. company. And so we we have to do it. >> At this this point, it's I think there's >> At this this point, it's I think there's >> At this this point, it's I think there's a lot of what did we get ourselves into? a lot of what did we get ourselves into? a lot of what did we get ourselves into? The FOMO bet is not playing out. We are The FOMO bet is not playing out. We are The FOMO bet is not playing out. We are in now the the debt financing phase of in now the the debt financing phase of in now the the debt financing phase of this hype cycle. And you know we have to this hype cycle. And you know we have to this hype cycle. And you know we have to remember the whole argument this whole remember the whole argument this whole remember the whole argument this whole time has been this is all cash flow time has been this is all cash flow time has been this is all cash flow driven and eventually in short actually driven and eventually in short actually driven and eventually in short actually it wasn't eventually this is such a it wasn't eventually this is such a it wasn't eventually this is such a revolutionary technology. these revolutionary technology. these revolutionary technology. these companies are the fastest uh quote companies are the fastest uh quote companies are the fastest uh quote unquote growing companies out there like unquote growing companies out there like unquote growing companies out there like you know the AI labs that they're their you know the AI labs that they're their you know the AI labs that they're their revenues are going to go through and revenues are going to go through and revenues are going to go through and they're going to make a ton of they're going to make a ton of they're going to make a ton of money, right? That that was the basis of money, right? That that was the basis of money, right? That that was the basis of the bet. It's just people forget because the bet. It's just people forget because the bet. It's just people forget because over time as starts to look not so over time as starts to look not so over time as starts to look not so great, great, great, they have this narrative that continues they have this narrative that continues they have this narrative that continues to morph and change the way that people to morph and change the way that people to morph and change the way that people view and believe in the story, right? view and believe in the story, right? view and believe in the story, right? And um now cuz you know, think about all And um now cuz you know, think about all And um now cuz you know, think about all these jokers on CNBC talking, oh well, these jokers on CNBC talking, oh well, these jokers on CNBC talking, oh well, you know, this is like this is different you know, this is like this is different you know, this is like this is different this time.

this time. this time. >> Really? >> Really? >> Really? >> Really? And this so it's so >> Really? And this so it's so >> Really? And this so it's so >> through any of this before and you >> through any of this before and you >> through any of this before and you can't see pattern I mean you know what can't see pattern I mean you know what can't see pattern I mean you know what part and do you understand the part and do you understand the part and do you understand the technology you know how this fits technology you know how this fits technology you know how this fits together full stack um I don't think you together full stack um I don't think you together full stack um I don't think you do do do >> this is not different >> this is not different >> this is not different >> the the round table >> the the round table >> the the round table >> it's turning out not to be different >> it's turning out not to be different >> it's turning out not to be different that's the funny thing right that's the funny thing right that's the funny thing right >> it feels like the it feels like the >> it feels like the it feels like the >> it feels like the it feels like the thing we all watch with Jensen on CNBC thing we all watch with Jensen on CNBC thing we all watch with Jensen on CNBC is like the final death throws but is like the final death throws but is like the final death throws but people don't know it they're excited people don't know it they're excited people don't know it they're excited It's like, okay, everybody's burned It's like, okay, everybody's burned It's like, okay, everybody's burned through free cash flow, debt financing, through free cash flow, debt financing, through free cash flow, debt financing, liquidating employees, uh, issuing new liquidating employees, uh, issuing new liquidating employees, uh, issuing new stock. What's left? Because as soon, and stock. What's left? Because as soon, and stock. What's left? Because as soon, and we've talked about this before, as soon we've talked about this before, as soon we've talked about this before, as soon as the hyperscalers, who are the only as the hyperscalers, who are the only as the hyperscalers, who are the only ones who actually had the money to do ones who actually had the money to do ones who actually had the money to do all this, stop doing it, and they will all this, stop doing it, and they will all this, stop doing it, and they will stop doing it. They have to stop doing stop doing it. They have to stop doing stop doing it. They have to stop doing money doesn't last forever. And they're money doesn't last forever. And they're money doesn't last forever. And they're going to say, "Okay, we've built out going to say, "Okay, we've built out going to say, "Okay, we've built out this cool AI. We're done." this cool AI. We're done." this cool AI. We're done." Jensen in the back of his mind is Jensen in the back of his mind is Jensen in the back of his mind is terrified going there's a possibility terrified going there's a possibility terrified going there's a possibility that my company could collapse back to that my company could collapse back to that my company could collapse back to just being a video graphics card company just being a video graphics card company just being a video graphics card company >> when [clears throat] all when that I'm >> when [clears throat] all when that I'm >> when [clears throat] all when that I'm I'm exaggerating. Yes, you are.

I'm exaggerating. Yes, you are. I'm exaggerating. Yes, you are. >> But >> But >> But >> but just for you know to make exciting >> but just for you know to make exciting >> but just for you know to make exciting you know [laughter] clickbait clickbait you know [laughter] clickbait clickbait you know [laughter] clickbait clickbait >> clickbait. You're you're taking creative >> clickbait. You're you're taking creative >> clickbait. You're you're taking creative license. license. license. >> I'm taking but but think about it. Think >> I'm taking but but think about it. Think >> I'm taking but but think about it. Think about it. How many years ago was he just about it. How many years ago was he just about it. How many years ago was he just a you know whatever hundred million a you know whatever hundred million a you know whatever hundred million dollar company or$1 billion dollar company or$1 billion dollar company or$1 billion >> table of Denny's you know right >> table of Denny's you know right >> table of Denny's you know right >> exactly it wasn't that long ago >> exactly it wasn't that long ago >> exactly it wasn't that long ago obviously people started buying GPUs uh obviously people started buying GPUs uh obviously people started buying GPUs uh because of Bitcoin mining and it was because of Bitcoin mining and it was because of Bitcoin mining and it was better for uh for that that's that's better for uh for that that's that's better for uh for that that's that's where they started cuz those cards where they started cuz those cards where they started cuz those cards helped accelerate that helped accelerate that helped accelerate that >> and then and we're seeing lots of >> and then and we're seeing lots of >> and then and we're seeing lots of Bitcoin miner companies now pivoting to Bitcoin miner companies now pivoting to Bitcoin miner companies now pivoting to become AI data centers become AI data centers become AI data centers >> but there's a fear that Jensen has that >> but there's a fear that Jensen has that >> but there's a fear that Jensen has that he can see the end of the runway where he can see the end of the runway where he can see the end of the runway where all the money's gone. I don't mean all the money's gone. I don't mean all the money's gone. I don't mean people are destitute. It's just the data people are destitute. It's just the data people are destitute. It's just the data center people like, okay, we're good. We center people like, okay, we're good. We center people like, okay, we're good. We bought 10 jillion of your GPUs and we're bought 10 jillion of your GPUs and we're bought 10 jillion of your GPUs and we're good. And then all of a sudden, you good. And then all of a sudden, you good. And then all of a sudden, you know, next quarter for Nvidia just drops know, next quarter for Nvidia just drops know, next quarter for Nvidia just drops off a cliff. And so he's like, how do I off a cliff. And so he's like, how do I off a cliff. And so he's like, how do I prevent that from happening? And prevent that from happening? And prevent that from happening? And obviously he's been trying to say, well, obviously he's been trying to say, well, obviously he's been trying to say, well, I'm more than just this GPU. I'm I'm more than just this GPU. I'm I'm more than just this GPU. I'm building data center and rack scale and building data center and rack scale and building data center and rack scale and I'm gonna have robots and all this stuff I'm gonna have robots and all this stuff I'm gonna have robots and all this stuff because he needs to make sure there's a because he needs to make sure there's a because he needs to make sure there's a reason for people to keep that stock reason for people to keep that stock reason for people to keep that stock going.

going. going. >> Yeah. >> Yeah. >> Yeah. >> Uh but all could it? So then what does >> Uh but all could it? So then what does >> Uh but all could it? So then what does it lead to? Here we are at CNBC. All it lead to? Here we are at CNBC. All it lead to? Here we are at CNBC. All right, I'm going to write have 500 right, I'm going to write have 500 right, I'm going to write have 500 billion raised and backed by Goldman and billion raised and backed by Goldman and billion raised and backed by Goldman and everybody. said to keep the hype machine everybody. said to keep the hype machine everybody. said to keep the hype machine going going going >> to keep this whole machine going >> to keep this whole machine going >> to keep this whole machine going >> for a little bit longer before I have to >> for a little bit longer before I have to >> for a little bit longer before I have to eject eject eject and parachute out of here. and parachute out of here. and parachute out of here. >> Yeah, I'm kind of surprised he made such >> Yeah, I'm kind of surprised he made such >> Yeah, I'm kind of surprised he made such a public association with the debt a public association with the debt a public association with the debt financing. I don't know. Maybe in his financing. I don't know. Maybe in his financing. I don't know. Maybe in his mind he thought it would mind he thought it would mind he thought it would >> be more of like this investable asset >> be more of like this investable asset >> be more of like this investable asset story, but it just sounds like Vern Funk story, but it just sounds like Vern Funk story, but it just sounds like Vern Funk all over again. all over again. all over again. >> It does because he's the only guy who >> It does because he's the only guy who >> It does because he's the only guy who can sell sell that storyline. Uh, and can sell sell that storyline. Uh, and can sell sell that storyline. Uh, and most people here I'll tell you something most people here I'll tell you something most people here I'll tell you something right now. Most people have no freaking right now. Most people have no freaking right now. Most people have no freaking clue what an AI factory is. clue what an AI factory is. clue what an AI factory is. >> Okay? They don't. Um, >> Okay? They don't. Um, >> Okay? They don't. Um, >> so people people who think >> so people people who think >> so people people who think >> people who think they're smart after >> people who think they're smart after >> people who think they're smart after that meeting we're like having lunch that meeting we're like having lunch that meeting we're like having lunch with friends and they're talking about, with friends and they're talking about, with friends and they're talking about, "Hey, it's an investable asset. I'm "Hey, it's an investable asset. I'm "Hey, it's an investable asset. I'm really smart. I'm really plugged in." really smart. I'm really plugged in." really smart. I'm really plugged in." >> Yeah. And then, you know, this whole >> Yeah. And then, you know, this whole >> Yeah. And then, you know, this whole idea that idea that idea that >> Yeah.

>> Yeah. >> Yeah. >> Like some land I got for you in Florida, >> Like some land I got for you in Florida, >> Like some land I got for you in Florida, like the tulip market. Remember that? like the tulip market. Remember that? like the tulip market. Remember that? That worked out. That worked out. That worked out. >> That worked [laughter] out. Exactly. >> That worked [laughter] out. Exactly. >> That worked [laughter] out. Exactly. >> I got a parcel of swamp. >> I got a parcel of swamp. >> I got a parcel of swamp. [laughter] [laughter] [laughter] >> You're gonna love this, baby. >> You're gonna love this, baby. >> You're gonna love this, baby. >> Yeah. >> Yeah. >> Yeah. >> Oh gosh. >> Oh gosh. >> Oh gosh. >> Um No, I mean, you know, it's just um >> Um No, I mean, you know, it's just um >> Um No, I mean, you know, it's just um Yeah, they they don't even know what you Yeah, they they don't even know what you Yeah, they they don't even know what you when you listen to what was shared. It's when you listen to what was shared. It's when you listen to what was shared. It's kind of disturbing because actually what kind of disturbing because actually what kind of disturbing because actually what it is is risk offload. They see the risk it is is risk offload. They see the risk it is is risk offload. They see the risk piling up. they're going to go and piling up. they're going to go and piling up. they're going to go and they're going to hit the debt markets. they're going to hit the debt markets. they're going to hit the debt markets. And the thing that really bothered me And the thing that really bothered me And the thing that really bothered me was I think it was a Blackstone guy was I think it was a Blackstone guy was I think it was a Blackstone guy started, you know, said, you know, it's started, you know, said, you know, it's started, you know, said, you know, it's akin to a mortgage back uh, you know, akin to a mortgage back uh, you know, akin to a mortgage back uh, you know, derivative or a security. And I'm derivative or a security. And I'm derivative or a security. And I'm thinking, you know what, that is a word thinking, you know what, that is a word thinking, you know what, that is a word that I don't want to hear related to that I don't want to hear related to that I don't want to hear related to this stuff because that's like a co. How this stuff because that's like a co. How this stuff because that's like a co. How many years do we have to wait before we many years do we have to wait before we many years do we have to wait before we have these meetings where everybody's in have these meetings where everybody's in have these meetings where everybody's in the room with the Fed with the Fed and the room with the Fed with the Fed and the room with the Fed with the Fed and going I DON'T WANT TO BE LIKE BEAR going I DON'T WANT TO BE LIKE BEAR going I DON'T WANT TO BE LIKE BEAR Sterns or Solomon Brothers or any of the Sterns or Solomon Brothers or any of the Sterns or Solomon Brothers or any of the and it's like all right I'm going to and it's like all right I'm going to and it's like all right I'm going to need you to buy this other bank and I'm need you to buy this other bank and I'm need you to buy this other bank and I'm going to need you to do this to backs going to need you to do this to backs going to need you to do this to backs stop this guy and I need Warren Buffett stop this guy and I need Warren Buffett stop this guy and I need Warren Buffett to give me a bunch of money to backs to give me a bunch of money to backs to give me a bunch of money to backs stop Goldman.

stop Goldman. stop Goldman. >> Well, you know, there's that whole >> Well, you know, there's that whole >> Well, you know, there's that whole democratization democratization democratization talking point or that Yeah. Hey, we want talking point or that Yeah. Hey, we want talking point or that Yeah. Hey, we want everyone to be able to participate in everyone to be able to participate in everyone to be able to participate in the AI revolution. But the thing is, um, the AI revolution. But the thing is, um, the AI revolution. But the thing is, um, they were talking about pensions can they were talking about pensions can they were talking about pensions can invest in this. invest in this. invest in this. >> I'm thinking, whoa, >> I'm thinking, whoa, >> I'm thinking, whoa, >> yeah, that would be that would be >> yeah, that would be that would be >> yeah, that would be that would be something, something, something, >> you know, 401ks. I mean, they're >> you know, 401ks. I mean, they're >> you know, 401ks. I mean, they're already, you know, all these companies already, you know, all these companies already, you know, all these companies already across all the indices, already across all the indices, already across all the indices, >> you know. Um, yeah. Yeah. The problem >> you know. Um, yeah. Yeah. The problem >> you know. Um, yeah. Yeah. The problem with circular circular financing stuff, with circular circular financing stuff, with circular circular financing stuff, it's not vendor financing. They call it it's not vendor financing. They call it it's not vendor financing. They call it vendor financing. It's just, you know, vendor financing. It's just, you know, vendor financing. It's just, you know, vendor financing is different. You vendor financing is different. You vendor financing is different. You actually have a a a customer who has actually have a a a customer who has actually have a a a customer who has organic demand, you know, like a organic demand, you know, like a organic demand, you know, like a freaking car. It's an endmarket product. freaking car. It's an endmarket product. freaking car. It's an endmarket product. >> Mhm. >> Mhm. >> Mhm. >> Okay. It's it's a car. It has economic >> Okay. It's it's a car. It has economic >> Okay. It's it's a car. It has economic value. It, you know, you can resell it. value. It, you know, you can resell it. value. It, you know, you can resell it. It It It >> it has >> it has >> it has functionally economic value. And then functionally economic value. And then functionally economic value. And then you can basically you can basically you can basically um underwrite that and then um you know um underwrite that and then um you know um underwrite that and then um you know uh uh uh >> so is this kind of like when they go >> so is this kind of like when they go >> so is this kind of like when they go >> is this like Nvidia saying we're going >> is this like Nvidia saying we're going >> is this like Nvidia saying we're going to give you 0% financing on an 84month to give you 0% financing on an 84month to give you 0% financing on an 84month loan on your [laughter] car loan on your [laughter] car loan on your [laughter] car >> on a GV 100 or whatever you know >> on a GV 100 or whatever you know >> on a GV 100 or whatever you know >> 72. Yeah.

>> 72. Yeah. >> 72. Yeah. >> We're still making these CARS AND WE'RE >> We're still making these CARS AND WE'RE >> We're still making these CARS AND WE'RE DEALING. WE'RE DEALING and we're moving DEALING. WE'RE DEALING and we're moving DEALING. WE'RE DEALING and we're moving these cars a Sunday. Sunday come on. these cars a Sunday. Sunday come on. these cars a Sunday. Sunday come on. >> Yeah. Exactly. And then you know it >> Yeah. Exactly. And then you know it >> Yeah. Exactly. And then you know it [laughter] so you get to the the concept [laughter] so you get to the the concept [laughter] so you get to the the concept of uh AI factory. The problem is is that of uh AI factory. The problem is is that of uh AI factory. The problem is is that you know he still has this one-year you know he still has this one-year you know he still has this one-year cadence for the um the technological cadence for the um the technological cadence for the um the technological advancement of these uh AI platforms advancement of these uh AI platforms advancement of these uh AI platforms right the the systems the racks and the right the the systems the racks and the right the the systems the racks and the clusters and stuff. Uh how does that clusters and stuff. Uh how does that clusters and stuff. Uh how does that reconcile with this idea that the reconcile with this idea that the reconcile with this idea that the infrastructure lasts for 10 years? It infrastructure lasts for 10 years? It infrastructure lasts for 10 years? It doesn't. um you know it doesn't even I doesn't. um you know it doesn't even I doesn't. um you know it doesn't even I don't even think you can reconcile that don't even think you can reconcile that don't even think you can reconcile that with a a a traditional data center you with a a a traditional data center you with a a a traditional data center you know know know >> right >> right >> right >> it's crazy and you know this idea well >> it's crazy and you know this idea well >> it's crazy and you know this idea well you know we did the software tweak so you know we did the software tweak so you know we did the software tweak so you know these these malls can run on uh you know these these malls can run on uh you know these these malls can run on uh you know A100 well it's going to it's you know A100 well it's going to it's you know A100 well it's going to it's going to be much more power hungry it's going to be much more power hungry it's going to be much more power hungry it's going to take much more power per token going to take much more power per token going to take much more power per token uh it's not going to be as efficient and uh it's not going to be as efficient and uh it's not going to be as efficient and you know everyone's move trying to for you know everyone's move trying to for you know everyone's move trying to for inference try to squeeze out floating inference try to squeeze out floating inference try to squeeze out floating point you know four right FP4 point you know four right FP4 point you know four right FP4 these older chips don't support that so these older chips don't support that so these older chips don't support that so the scaling doesn't work the scaling doesn't work the scaling doesn't work >> so so people people largely don't know >> so so people people largely don't know >> so so people people largely don't know this stuff this stuff this stuff >> yeah we're reducing the accuracy of math >> yeah we're reducing the accuracy of math >> yeah we're reducing the accuracy of math in order to get more bang for the bucket in order to get more bang for the bucket in order to get more bang for the bucket >> and so yeah this this idea that somehow

>> and so yeah this this idea that somehow >> and so yeah this this idea that somehow the A100 is better you know what It's the A100 is better you know what It's the A100 is better you know what It's it's so much um less costefficient to it's so much um less costefficient to it's so much um less costefficient to run on a A100. And so everyone's trying run on a A100. And so everyone's trying run on a A100. And so everyone's trying to get your attention on the price. to get your attention on the price. to get your attention on the price. >> Think of all this debt. I think of this >> Think of all this debt. I think of this >> Think of all this debt. I think of this debt. Everybody So everybody's going to debt. Everybody So everybody's going to debt. Everybody So everybody's going to debt. debt. debt. Who's the role model for debt? Oh, is it Who's the role model for debt? Oh, is it Who's the role model for debt? Oh, is it the United States government with $30 the United States government with $30 the United States government with $30 trillion in debt? trillion in debt? trillion in debt? >> Not what it is now. No. >> Not what it is now. No. >> Not what it is now. No. >> Yeah, that's what it is now. Is any of >> Yeah, that's what it is now. Is any of >> Yeah, that's what it is now. Is any of this make give or take? [laughter] Does this make give or take? [laughter] Does this make give or take? [laughter] Does any of this make any sense? It's like any of this make any sense? It's like any of this make any sense? It's like what if you you knew you had that much what if you you knew you had that much what if you you knew you had that much debt hanging over your head? debt hanging over your head? debt hanging over your head? >> What actions would you take or not be >> What actions would you take or not be >> What actions would you take or not be taking uh when you have that kind of taking uh when you have that kind of taking uh when you have that kind of debt hanging over your head? Um debt hanging over your head? Um debt hanging over your head? Um >> you know, I mean, I don't know. We're in >> you know, I mean, I don't know. We're in >> you know, I mean, I don't know. We're in La La Land. I [clears throat] don't get La La Land. I [clears throat] don't get La La Land. I [clears throat] don't get me started. Sometimes I think our me started. Sometimes I think our me started. Sometimes I think our economy is an illusion that it's pretend economy is an illusion that it's pretend economy is an illusion that it's pretend capitalism because we actually just capitalism because we actually just capitalism because we actually just print money to create the illusion that print money to create the illusion that print money to create the illusion that everything's working out. Okay. Right. everything's working out. Okay. Right. everything's working out. Okay. Right. Well, our our primary product doesn't Well, our our primary product doesn't Well, our our primary product doesn't have any foundational economic value.

have any foundational economic value. have any foundational economic value. It's just, you know, uh Tik Tok videos It's just, you know, uh Tik Tok videos It's just, you know, uh Tik Tok videos and freaking, you know, it's and freaking, you know, it's and freaking, you know, it's advertising. advertising. advertising. >> As soon as we saw that, >> As soon as we saw that, >> As soon as we saw that, >> we have a BS economy. >> we have a BS economy. >> we have a BS economy. >> Soon as we saw that Arizona State had >> Soon as we saw that Arizona State had >> Soon as we saw that Arizona State had that ad for their new major of becoming that ad for their new major of becoming that ad for their new major of becoming an influencer, just like an influencer, just like an influencer, just like Idiocracy is here. That's [laughter] it. Idiocracy is here. That's [laughter] it. Idiocracy is here. That's [laughter] it. That's it. That's it. That's it. >> Anyways, all right. So, what does any of >> Anyways, all right. So, what does any of >> Anyways, all right. So, what does any of this have anything to do with IoT? Oh, this have anything to do with IoT? Oh, this have anything to do with IoT? Oh, by the way, hold on, hold on, hold on. by the way, hold on, hold on, hold on. by the way, hold on, hold on, hold on. >> Hey, everyone. >> Hey, everyone. >> Hey, everyone. >> There you go. >> There you go. >> There you go. >> Whoa. Look at that. >> Whoa. Look at that. >> Whoa. Look at that. >> Look at that book. >> Look at that book. >> Look at that book. >> Woohoo. >> Woohoo. >> Woohoo. >> Value all in. >> Value all in. >> Value all in. >> That's an investable asset right there. >> That's an investable asset right there. >> That's an investable asset right there. >> This is an investable [laughter] asset, >> This is an investable [laughter] asset, >> This is an investable [laughter] asset, y'all. And [clears throat] saving the y'all. And [clears throat] saving the y'all. And [clears throat] saving the freaking Earth. Okay. With freaking Earth. Okay. With freaking Earth. Okay. With >> That's right. IoT, not AI. IoT. Simple >> That's right. IoT, not AI. IoT. Simple >> That's right. IoT, not AI. IoT. Simple stuff. We're going to be using that book stuff. We're going to be using that book stuff. We're going to be using that book in our post-apocalyptic wasteland after in our post-apocalyptic wasteland after in our post-apocalyptic wasteland after the AI collapsed. the AI collapsed. the AI collapsed. >> Here's a here's a definition of stupid. >> Here's a here's a definition of stupid. >> Here's a here's a definition of stupid. Trying to use a technology that is Trying to use a technology that is Trying to use a technology that is destroying the earth to save the earth.

destroying the earth to save the earth. destroying the earth to save the earth. That doesn't make any sense. That doesn't make any sense. That doesn't make any sense. >> This is the beautiful thing about what >> This is the beautiful thing about what >> This is the beautiful thing about what Rob has done here. If you haven't picked Rob has done here. If you haven't picked Rob has done here. If you haven't picked up your copy, you should because this is up your copy, you should because this is up your copy, you should because this is like literally the Bible on IoT value. like literally the Bible on IoT value. like literally the Bible on IoT value. >> This stuff is cheap. You know, like Rob >> This stuff is cheap. You know, like Rob >> This stuff is cheap. You know, like Rob said, like these algorithms even I said, like these algorithms even I said, like these algorithms even I >> You can even Even you can figure it out. >> You can even Even you can figure it out. >> You can even Even you can figure it out. >> I know. Look. [clears throat] >> I know. Look. [clears throat] >> I know. Look. [clears throat] >> Yeah. I I just go It's like a stoplight. >> Yeah. I I just go It's like a stoplight. >> Yeah. I I just go It's like a stoplight. Green, yellow, red. Green, yellow, red. Green, yellow, red. >> I mean, these [laughter] are like >> I mean, these [laughter] are like >> I mean, these [laughter] are like blueprints. It's like Yeah. It's blueprints. It's like Yeah. It's blueprints. It's like Yeah. It's blueprint for saving the Earth. Like, blueprint for saving the Earth. Like, blueprint for saving the Earth. Like, >> there you go. That's awesome. >> there you go. That's awesome. >> there you go. That's awesome. >> This is what you need to be educated on, >> This is what you need to be educated on, >> This is what you need to be educated on, not tokens. not tokens. not tokens. >> There you go. I love that. I love that. >> There you go. I love that. I love that. >> There you go. I love that. I love that. We're here to educate you. We're here to educate you. We're here to educate you. There you go. There you go. There you go. >> There you go. >> There you go. >> There you go. >> We got How are we going to save the >> We got How are we going to save the >> We got How are we going to save the economy? Yeah, economy? Yeah, economy? Yeah, >> let me do a little uh PSA, too. So, we >> let me do a little uh PSA, too. So, we >> let me do a little uh PSA, too. So, we have our Edgi um learning modules have our Edgi um learning modules have our Edgi um learning modules um at learn.jifiation.org. um at learn.jifiation.org. um at learn.jifiation.org. This week, we made the AGI fundamentals This week, we made the AGI fundamentals This week, we made the AGI fundamentals module free for everyone module free for everyone module free for everyone >> in four languages because we introduced >> in four languages because we introduced >> in four languages because we introduced five other modules around physical AI five other modules around physical AI five other modules around physical AI and agentic and security and sensing.

and agentic and security and sensing. and agentic and security and sensing. So, now that we have the whole So, now that we have the whole So, now that we have the whole portfolio, we made the 100 level one portfolio, we made the 100 level one portfolio, we made the 100 level one free. So, if you go to free. So, if you go to free. So, if you go to learn.jifoundation.org, or you can take learn.jifoundation.org, or you can take learn.jifoundation.org, or you can take a free and you get a badge and a a free and you get a badge and a a free and you get a badge and a certificate certificate certificate >> for edge app fundamentals and uh >> for edge app fundamentals and uh >> for edge app fundamentals and uh >> my visual there but that's kind of what >> my visual there but that's kind of what >> my visual there but that's kind of what it looks like. You can't really see it. it looks like. You can't really see it. it looks like. You can't really see it. >> Yeah, go go go to learn and uh it's free >> Yeah, go go go to learn and uh it's free >> Yeah, go go go to learn and uh it's free and uh it's in English, Spanish, Arabic and uh it's in English, Spanish, Arabic and uh it's in English, Spanish, Arabic and Mandarin. So, and Mandarin. So, and Mandarin. So, >> wow. uh the whole world can get educated >> wow. uh the whole world can get educated >> wow. uh the whole world can get educated on edge and what it can do for you and on edge and what it can do for you and on edge and what it can do for you and it's great for engineers but it's also it's great for engineers but it's also it's great for engineers but it's also good for product managers and good for product managers and good for product managers and >> executives who are getting you know p >> executives who are getting you know p >> executives who are getting you know p pummeled with requests to spend money on pummeled with requests to spend money on pummeled with requests to spend money on edi they're like oh let me learn about edi they're like oh let me learn about edi they're like oh let me learn about it so it so it so >> let me learn about this stuff >> let me learn about this stuff >> let me learn about this stuff >> and that's a nice compliment to Rob's >> and that's a nice compliment to Rob's >> and that's a nice compliment to Rob's book you can get both and then get super book you can get both and then get super book you can get both and then get super educated on both things so it's educated on both things so it's educated on both things so it's absolutely free absolutely absolutely free absolutely absolutely free absolutely >> that's awesome that's awesome that's a >> that's awesome that's awesome that's a >> that's awesome that's awesome that's a good good good >> behalf of our partners subsidized by our >> behalf of our partners subsidized by our >> behalf of our partners subsidized by our partners that's why we can do it so partners that's why we can do it so partners that's why we can do it so >> yeah no I These this is like this is >> yeah no I These this is like this is >> yeah no I These this is like this is like like like um this is real stuff you know that's um this is real stuff you know that's um this is real stuff you know that's the cool thing about it. the cool thing about it. the cool thing about it. >> Yeah it impact the thing is like you >> Yeah it impact the thing is like you >> Yeah it impact the thing is like you don't need reality as all this stuff.

don't need reality as all this stuff. don't need reality as all this stuff. >> Yeah. You don't need like no credit >> Yeah. You don't need like no credit >> Yeah. You don't need like no credit loans to do AKI solutions loans to do AKI solutions loans to do AKI solutions uh you know and solve like agricultural uh you know and solve like agricultural uh you know and solve like agricultural issues medical issues you know um issues medical issues you know um issues medical issues you know um industrial manufacturing automotive like industrial manufacturing automotive like industrial manufacturing automotive like you don't need low in low credit loans you don't need low in low credit loans you don't need low in low credit loans to do any of that stuff. safety, you to do any of that stuff. safety, you to do any of that stuff. safety, you know, know, know, >> and also the models in Edge AI do not >> and also the models in Edge AI do not >> and also the models in Edge AI do not escape the sandbox and go. escape the sandbox and go. escape the sandbox and go. >> Thank God. >> Thank God. >> Thank God. >> Yeah, they don't. Thank God. >> Yeah, they don't. Thank God. >> Yeah, they don't. Thank God. >> So, they they don't escape the sandbox >> So, they they don't escape the sandbox >> So, they they don't escape the sandbox and you don't need a a no credit loan to and you don't need a a no credit loan to and you don't need a a no credit loan to do any of [laughter] do any of [laughter] do any of [laughter] >> So, there you go. That's your value prop >> So, there you go. That's your value prop >> So, there you go. That's your value prop of why AI is moving to the edge because of why AI is moving to the edge because of why AI is moving to the edge because I love it. I love it. I love it. >> Yeah. And you know what? Um I I had a >> Yeah. And you know what? Um I I had a >> Yeah. And you know what? Um I I had a chat with a buddy of mine uh in Deer chat with a buddy of mine uh in Deer chat with a buddy of mine uh in Deer Valley and we were talking about the Valley and we were talking about the Valley and we were talking about the prospects of edge infrastructure you prospects of edge infrastructure you prospects of edge infrastructure you know emerging edge architectures and know emerging edge architectures and know emerging edge architectures and that's really I think where everyone that's really I think where everyone that's really I think where everyone needs to start to look in terms of like needs to start to look in terms of like needs to start to look in terms of like real value and economic differentiation real value and economic differentiation real value and economic differentiation you know and um it it'll be you know you know and um it it'll be you know you know and um it it'll be you know because everyone talks about hey when we because everyone talks about hey when we because everyone talks about hey when we need to use this uh technology to need to use this uh technology to need to use this uh technology to improve our you our industrial base.

improve our you our industrial base. improve our you our industrial base. Well, [clears throat] Well, [clears throat] Well, [clears throat] >> when we invest so much in the >> when we invest so much in the >> when we invest so much in the economy, right? Because you know like economy, right? Because you know like economy, right? Because you know like Tik Tok videos and like freaking porn Tik Tok videos and like freaking porn Tik Tok videos and like freaking porn and all this other crap. and all this other crap. and all this other crap. We are we are getting further and We are we are getting further and We are we are getting further and further behind China and actually further behind China and actually further behind China and actually applying technology across the edge and applying technology across the edge and applying technology across the edge and AC into you know industrial environments AC into you know industrial environments AC into you know industrial environments and driving the kind of um you know and driving the kind of um you know and driving the kind of um you know innovation that we need just to just to innovation that we need just to just to innovation that we need just to just to keep up right. They have a economic you keep up right. They have a economic you keep up right. They have a economic you know like a economics type of advantage know like a economics type of advantage know like a economics type of advantage already. The economics are in their already. The economics are in their already. The economics are in their favor. We need to we need to invest more favor. We need to we need to invest more favor. We need to we need to invest more in in this kind of innovation and apply in in this kind of innovation and apply in in this kind of innovation and apply this stuff across the board. this stuff across the board. this stuff across the board. >> Otherwise, you know, how how are we >> Otherwise, you know, how how are we >> Otherwise, you know, how how are we going to Hey, Bill. What's up, man? going to Hey, Bill. What's up, man? going to Hey, Bill. What's up, man? >> All right. What do we got here? >> All right. What do we got here? >> All right. What do we got here? Louisville slugger. All right. Louisville slugger. All right. Louisville slugger. All right. >> Yeah. With the >> Yeah. With the >> Yeah. With the >> All about the wood, baby. >> All about the wood, baby. >> All about the wood, baby. >> It's all about the wood. That's what she >> It's all about the wood. That's what she >> It's all about the wood. That's what she said.

said. said. >> Yeah. [laughter] >> Oh, you missed out, man. >> Oh, you missed out, man. >> We'll edit that out and post. We're >> We'll edit that out and post. We're >> We'll edit that out and post. We're gonna edit that out. gonna edit that out. gonna edit that out. >> Oh my god. >> Oh my god. >> Oh my god. >> Yeah, I was thinking of Steve Carell. I >> Yeah, I was thinking of Steve Carell. I >> Yeah, I was thinking of Steve Carell. I don't know. don't know. don't know. >> Oh man. >> Oh man. >> Oh man. >> Anyway. >> Anyway. >> Anyway. >> Yeah. >> Yeah. >> Yeah. >> Bill, it's so good to see you, man. It's >> Bill, it's so good to see you, man. It's >> Bill, it's so good to see you, man. It's been a while. been a while. been a while. >> Yeah, man. I look, I I have been missing >> Yeah, man. I look, I I have been missing >> Yeah, man. I look, I I have been missing in action, you know? I mean, business in action, you know? I mean, business in action, you know? I mean, business takes takes precedence over everything. takes takes precedence over everything. takes takes precedence over everything. And I'm I'm really trying to get us And I'm I'm really trying to get us And I'm I'm really trying to get us focused and and to a to a point where focused and and to a to a point where focused and and to a to a point where True North will become a participating True North will become a participating True North will become a participating member of Edge AI Foundation. member of Edge AI Foundation. member of Edge AI Foundation. >> Yeah. >> Yeah. >> Yeah. >> So, we are all about that. >> So, we are all about that. >> So, we are all about that. >> You get a hat, by the way. You get a >> You get a hat, by the way. You get a >> You get a hat, by the way. You get a baseball hat when you join, Bill. I baseball hat when you join, Bill. I baseball hat when you join, Bill. I >> Oh, cool. I need I love those, man. I >> Oh, cool. I need I love those, man. I >> Oh, cool. I need I love those, man. I have have have >> Perhaps you've seen the cool logo. >> Perhaps you've seen the cool logo. >> Perhaps you've seen the cool logo. >> Yeah. you know, um but but no, the >> Yeah. you know, um but but no, the >> Yeah. you know, um but but no, the entire team the entire team is like, entire team the entire team is like, entire team the entire team is like, "Yes, we want to do that." So, I'm like, "Yes, we want to do that." So, I'm like, "Yes, we want to do that." So, I'm like, "Go and finish up these deals. I've got "Go and finish up these deals. I've got "Go and finish up these deals. I've got three new partners that I'm I I have to three new partners that I'm I I have to three new partners that I'm I I have to get across the line."

get across the line." get across the line." >> Um so, once once we get those things >> Um so, once once we get those things >> Um so, once once we get those things done, I I wanted it to be come out of my done, I I wanted it to be come out of my done, I I wanted it to be come out of my mouth, hold me accountable, we will mouth, hold me accountable, we will mouth, hold me accountable, we will become participating members of Edge AI. become participating members of Edge AI. become participating members of Edge AI. >> Fantastic. >> Fantastic. >> Fantastic. >> Fantastic. >> Fantastic. >> Fantastic. >> You get a free hat and you also get a >> You get a free hat and you also get a >> You get a free hat and you also get a copy of Rob's book. So there you go. copy of Rob's book. So there you go. copy of Rob's book. So there you go. >> There you go. [clears throat] >> There you go. [clears throat] >> There you go. [clears throat] >> Did you pick up yours? >> Did you pick up yours? >> Did you pick up yours? >> Rob's book. >> Rob's book. >> Rob's book. >> Did you pick up yours? >> Did you pick up yours? >> Did you pick up yours? >> I bought it. I bought it. I just need I >> I bought it. I bought it. I just need I >> I bought it. I bought it. I just need I just need Rob to sign it for me. just need Rob to sign it for me. just need Rob to sign it for me. >> Yeah. You need the signed edition. >> Yeah. You need the signed edition. >> Yeah. You need the signed edition. That's the That's the That's the >> Yeah. >> Yeah. >> Yeah. >> Come to come to Amsterdam. You can get >> Come to come to Amsterdam. You can get >> Come to come to Amsterdam. You can get your book signed in Amsterdam. your book signed in Amsterdam. your book signed in Amsterdam. >> That's right. Come to Amsterdam. I I'm >> That's right. Come to Amsterdam. I I'm >> That's right. Come to Amsterdam. I I'm having multiple people multiple people having multiple people multiple people having multiple people multiple people are saying, "How do I get the signed are saying, "How do I get the signed are saying, "How do I get the signed copy?" And I'm like, "I got to get my copy?" And I'm like, "I got to get my copy?" And I'm like, "I got to get my together on that." Obviously, [laughter] together on that." Obviously, [laughter] together on that." Obviously, [laughter] >> well, actually, that's how I'm going to >> well, actually, that's how I'm going to >> well, actually, that's how I'm going to get uh our other buddy we never see get uh our other buddy we never see get uh our other buddy we never see anymore, David Vasquez. I'm going to I'm anymore, David Vasquez. I'm going to I'm anymore, David Vasquez. I'm going to I'm going to get him [clears throat] his going to get him [clears throat] his going to get him [clears throat] his signed copy in Amsterdam. signed copy in Amsterdam. signed copy in Amsterdam. >> Then at CES, we'll get together at CES. >> Then at CES, we'll get together at CES. >> Then at CES, we'll get together at CES. Maybe we'll do a little book signing Maybe we'll do a little book signing Maybe we'll do a little book signing there. So, you know, there. So, you know, there. So, you know, >> absolutely. You know, >> absolutely. You know, >> absolutely. You know, >> might come out to CES for 2027.

>> All right. >> All right. >> Haven't exciting things going on there. >> Haven't exciting things going on there. >> Haven't exciting things going on there. >> Haven't been in a while. So, I mean, I >> Haven't been in a while. So, I mean, I >> Haven't been in a while. So, I mean, I think I think we're gonna I think we're think I think we're gonna I think we're think I think we're gonna I think we're going to come out. I mean, we we we've going to come out. I mean, we we we've going to come out. I mean, we we we've got some I've been kind of quiet. We've got some I've been kind of quiet. We've got some I've been kind of quiet. We've got some big things kind of on hitting got some big things kind of on hitting got some big things kind of on hitting on the horizon on the horizon here on the horizon on the horizon here on the horizon on the horizon here coming up. So, coming up. So, coming up. So, >> sounds good. >> sounds good. >> sounds good. >> I'm pretty happy. >> I'm pretty happy. >> I'm pretty happy. >> That's awesome. >> That's awesome. >> That's awesome. >> That is awesome. I love that. >> That is awesome. I love that. >> That is awesome. I love that. >> I'd say I'd say the Edge stuff in my >> I'd say I'd say the Edge stuff in my >> I'd say I'd say the Edge stuff in my book is it's different and complimentary book is it's different and complimentary book is it's different and complimentary to Edge AI cuz it's not it doesn't have to Edge AI cuz it's not it doesn't have to Edge AI cuz it's not it doesn't have any AI in it. It's like edge KPI. any AI in it. It's like edge KPI. any AI in it. It's like edge KPI. [laughter] [laughter] [laughter] >> But I mean, but you know what? >> But I mean, but you know what? >> But I mean, but you know what? >> You got to have edge before you have >> You got to have edge before you have >> You got to have edge before you have edge AI. So then edge AI. So then edge AI. So then >> Exactly. Exactly. I mean, I was going to >> Exactly. Exactly. I mean, I was going to >> Exactly. Exactly. I mean, I was going to say that just the fact that it has edge, say that just the fact that it has edge, say that just the fact that it has edge, it's up to the implementation team to it's up to the implementation team to it's up to the implementation team to put the AI in it. put the AI in it. put the AI in it. >> That's right. >> That's right. >> That's right. >> Yeah. >> Yeah. >> Yeah. >> Maybe that's volume two, Rob. We should >> Maybe that's volume two, Rob. We should >> Maybe that's volume two, Rob. We should work on volume two. work on volume two. work on volume two. >> Exactly. No, cuz like I you know, we >> Exactly. No, cuz like I you know, we >> Exactly. No, cuz like I you know, we started I don't know. I [clears throat] started I don't know. I [clears throat] started I don't know. I [clears throat] remember I remember at on the Azure a remember I remember at on the Azure a remember I remember at on the Azure a IoT I remember we put together guys this IoT I remember we put together guys this IoT I remember we put together guys this is all the way back in 2014 or 2015 like is all the way back in 2014 or 2015 like is all the way back in 2014 or 2015 like a open- source SDK kind of thing to run a open- source SDK kind of thing to run a open- source SDK kind of thing to run on edge devices and in our mind in fact on edge devices and in our mind in fact on edge devices and in our mind in fact a lot of people's mind who are in edge a lot of people's mind who are in edge a lot of people's mind who are in edge back then and into 2017 2018 back then and into 2017 2018 back then and into 2017 2018 um their idea of an edge was let's go um their idea of an edge was let's go um their idea of an edge was let's go buy an Intel Nook.

buy an Intel Nook. buy an Intel Nook. >> Yes. And that and that's that was edge >> Yes. And that and that's that was edge >> Yes. And that and that's that was edge devices devices devices >> but it's still legitimate very >> but it's still legitimate very >> but it's still legitimate very legitimate you know [clears throat] legitimate you know [clears throat] legitimate you know [clears throat] edge. edge. edge. >> Yeah. And then you saw >> Yeah. And then you saw >> Yeah. And then you saw >> Dell and HP start making industrialized >> Dell and HP start making industrialized >> Dell and HP start making industrialized versions of that that were bigger that versions of that that were bigger that versions of that that were bigger that had all the comp ports worthy 485 RS 232 had all the comp ports worthy 485 RS 232 had all the comp ports worthy 485 RS 232 >> and so that that was the edge >> and so that that was the edge >> and so that that was the edge >> yeah 232 485 I'm down with anyway >> yeah 232 485 I'm down with anyway >> yeah 232 485 I'm down with anyway >> ports parallel ports >> ports parallel ports >> ports parallel ports >> parallel all that stuff because >> parallel all that stuff because >> parallel all that stuff because >> what we what we learned by then in IoT >> what we what we learned by then in IoT >> what we what we learned by then in IoT is to be successful in IoT is you have is to be successful in IoT is you have is to be successful in IoT is you have to go work in the gap of the ugly as we to go work in the gap of the ugly as we to go work in the gap of the ugly as we didn't know that term yet. didn't know that term yet. didn't know that term yet. >> No, but a lot of people who failed in >> No, but a lot of people who failed in >> No, but a lot of people who failed in IoT thought it was all green field brand IoT thought it was all green field brand IoT thought it was all green field brand new awesome stuff and Raspberry Pies. new awesome stuff and Raspberry Pies. new awesome stuff and Raspberry Pies. >> And it's like if you want to win, you >> And it's like if you want to win, you >> And it's like if you want to win, you need to embrace brownfield. You just need to embrace brownfield. You just need to embrace brownfield. You just have to embrace it. Absolutely. And so have to embrace it. Absolutely. And so have to embrace it. Absolutely. And so and so yeah, so that rides the edge. How and so yeah, so that rides the edge. How and so yeah, so that rides the edge. How do I talk to all these machines on my do I talk to all these machines on my do I talk to all these machines on my factory floor? I have to. And so factory floor? I have to. And so factory floor? I have to. And so >> yeah, it wasn't Raspberry Pies or >> yeah, it wasn't Raspberry Pies or >> yeah, it wasn't Raspberry Pies or anything like that. Um anything like that. Um anything like that. Um >> yeah, what we need to do is make sure >> yeah, what we need to do is make sure >> yeah, what we need to do is make sure that our older um actually we should that our older um actually we should that our older um actually we should create a university because all of our create a university because all of our create a university because all of our content it it's there to guide everyone content it it's there to guide everyone content it it's there to guide everyone to not make the same mistakes and we've to not make the same mistakes and we've to not make the same mistakes and we've already talked about all this already talked about all this already talked about all this That's the thing, you know, it's just we That's the thing, you know, it's just we That's the thing, you know, it's just we have episodes have episodes have episodes >> that explain all this stuff already.

>> that explain all this stuff already. >> that explain all this stuff already. >> Got to mine the archives. >> Got to mine the archives. >> Got to mine the archives. >> Yeah. Yeah. Yeah. Yeah. And but my my >> Yeah. Yeah. Yeah. Yeah. And but my my >> Yeah. Yeah. Yeah. Yeah. And but my my concern is that when when the concern is that when when the concern is that when when the economy and all this starts to economy and all this starts to economy and all this starts to unravel and then people realize they got unravel and then people realize they got unravel and then people realize they got to get real and then edge edge stuff to get real and then edge edge stuff to get real and then edge edge stuff becomes that ground truth that people becomes that ground truth that people becomes that ground truth that people have to tune into, they're going to get have to tune into, they're going to get have to tune into, they're going to get confused again. You're gonna have all confused again. You're gonna have all confused again. You're gonna have all the same yahoos that are self-proclaimed the same yahoos that are self-proclaimed the same yahoos that are self-proclaimed AI guys, right? AI guys, right? AI guys, right? >> You know, and you know, prompt engineers >> You know, and you know, prompt engineers >> You know, and you know, prompt engineers and start coming down here acting and start coming down here acting and start coming down here acting like there's some sort of uh IoT like there's some sort of uh IoT like there's some sort of uh IoT exp. exp. exp. >> Well, that's our opportunity to educate >> Well, that's our opportunity to educate >> Well, that's our opportunity to educate the world. the world. the world. >> So, we need to create those defenses >> So, we need to create those defenses >> So, we need to create those defenses right now for everyone, right? It's like right now for everyone, right? It's like right now for everyone, right? It's like the the the >> books, the classes, the all the good >> books, the classes, the all the good >> books, the classes, the all the good stuff. stuff. stuff. >> Yeah. Doing outreach, too. We do we >> Yeah. Doing outreach, too. We do we >> Yeah. Doing outreach, too. We do we actually do uh we do more PR outreach actually do uh we do more PR outreach actually do uh we do more PR outreach now to like mainstream business press to now to like mainstream business press to now to like mainstream business press to educate them about edi uh you know just educate them about edi uh you know just educate them about edi uh you know just to kind of get it in their heads. You'd to kind of get it in their heads. You'd to kind of get it in their heads. You'd be surpris I mean you wouldn't you this be surpris I mean you wouldn't you this be surpris I mean you wouldn't you this group wouldn't be surprised but they group wouldn't be surprised but they group wouldn't be surprised but they really don't know what that is until you really don't know what that is until you really don't know what that is until you explain it to them and then they're like explain it to them and then they're like explain it to them and then they're like oh I get it and I think actually oh I get it and I think actually oh I get it and I think actually physical AI is helping with that a physical AI is helping with that a physical AI is helping with that a little bit.

little bit. little bit. >> Sure. >> We need to I'm hearing about the world >> We need to I'm hearing about the world and helping the world. Do we need to and and helping the world. Do we need to and and helping the world. Do we need to and we have guitarists in here. Do we need we have guitarists in here. Do we need we have guitarists in here. Do we need to have our own concert kind of live aid to have our own concert kind of live aid to have our own concert kind of live aid or something like that? or something like that? or something like that? >> AI aid. >> AI aid. >> AI aid. >> AI bandaid. >> AI bandaid. >> AI bandaid. >> Bandaid. Yeah. >> Bandaid. Yeah. >> Bandaid. Yeah. >> Yeah. So, [laughter] >> Yeah. So, [laughter] >> Yeah. So, [laughter] man, don't get me on physical AI, dude. man, don't get me on physical AI, dude. man, don't get me on physical AI, dude. I I asked that question a ton of I I asked that question a ton of I I asked that question a ton of times this week and people have no clue. times this week and people have no clue. times this week and people have no clue. >> Well, yeah, because people have no clue. >> Well, yeah, because people have no clue. >> Well, yeah, because people have no clue. So, there in lies the opportunity to So, there in lies the opportunity to So, there in lies the opportunity to give them the clue to say, "What what give them the clue to say, "What what give them the clue to say, "What what does this mean exactly? does this mean exactly? does this mean exactly? Um, and it is super valuable if you get Um, and it is super valuable if you get Um, and it is super valuable if you get get away from the dancing robots and the get away from the dancing robots and the get away from the dancing robots and the laundry folding robots, laundry folding robots, laundry folding robots, >> but get into real like warehouse work, >> but get into real like warehouse work, >> but get into real like warehouse work, construction work, like inspection work, construction work, like inspection work, construction work, like inspection work, like physical AI in those environments like physical AI in those environments like physical AI in those environments is really transformative. So, is really transformative. So, is really transformative. So, >> yeah. Well, physical physical AI, if you >> yeah. Well, physical physical AI, if you >> yeah. Well, physical physical AI, if you think it's if you think it's just think it's if you think it's just think it's if you think it's just robotics or you think it's robotics, robotics or you think it's robotics, robotics or you think it's robotics, then you you already got it wrong. So, then you you already got it wrong. So, then you you already got it wrong. So, um, um, um, >> that's so embodied of you.

>> that's so embodied of you. >> that's so embodied of you. >> Yeah. >> Yeah. >> Yeah. our our our our good friend, you know, I our our our our good friend, you know, I our our our our good friend, you know, I was it's really common sense. Use the was it's really common sense. Use the was it's really common sense. Use the right tool for the job. And you know, so right tool for the job. And you know, so right tool for the job. And you know, so like when I published a deal the other like when I published a deal the other like when I published a deal the other day, like a graphic that had 15 steps to day, like a graphic that had 15 steps to day, like a graphic that had 15 steps to do these STGS and it's basically you do these STGS and it's basically you do these STGS and it's basically you follow you can do 15 steps to build follow you can do 15 steps to build follow you can do 15 steps to build almost any IoT solution. But Mark almost any IoT solution. But Mark almost any IoT solution. But Mark reached out and said, "Well, wait a reached out and said, "Well, wait a reached out and said, "Well, wait a second. where's the ML model on the second. where's the ML model on the second. where's the ML model on the device so that you don't have to send device so that you don't have to send device so that you don't have to send needlessly send data back there and eat needlessly send data back there and eat needlessly send data back there and eat up battery and stuff like that. And I up battery and stuff like that. And I up battery and stuff like that. And I was like, well, yeah, I don't really was like, well, yeah, I don't really was like, well, yeah, I don't really talk much about that, but talk much about that, but talk much about that, but remember prior to the edge AI thing and remember prior to the edge AI thing and remember prior to the edge AI thing and also if I had a dollar for everyone who also if I had a dollar for everyone who also if I had a dollar for everyone who has moved the edge down to what I used has moved the edge down to what I used has moved the edge down to what I used to call the endpoint. Um, anyway, don't to call the endpoint. Um, anyway, don't to call the endpoint. Um, anyway, don't get me started. It was the endpoint, get me started. It was the endpoint, get me started. It was the endpoint, then there was the edge, then there was then there was the edge, then there was then there was the edge, then there was the core or the cloud, and now people the core or the cloud, and now people the core or the cloud, and now people are saying, "Well, actually, that are saying, "Well, actually, that are saying, "Well, actually, that microcontroller is the edge, but it used microcontroller is the edge, but it used microcontroller is the edge, but it used to be an endpoint, but whatever, who to be an endpoint, but whatever, who to be an endpoint, but whatever, who cares?" cares?" cares?" >> Um, putting stuff on there. You don't >> Um, putting stuff on there. You don't >> Um, putting stuff on there. You don't always have to have an AI, an ML model always have to have an AI, an ML model always have to have an AI, an ML model using tiny ML uh on that deal to prevent using tiny ML uh on that deal to prevent using tiny ML uh on that deal to prevent needlessly sending data. Use the right needlessly sending data. Use the right needlessly sending data. Use the right analytics for the right job. You only analytics for the right job. You only analytics for the right job. You only use machine learning if you really need use machine learning if you really need use machine learning if you really need it. But if you're doing a lot of stupid it. But if you're doing a lot of stupid it. But if you're doing a lot of stupid stuff like I do, which turns out the stuff like I do, which turns out the stuff like I do, which turns out the hardest problems on the entire planet hardest problems on the entire planet hardest problems on the entire planet are solved with the stupid stuff. Thank are solved with the stupid stuff. Thank are solved with the stupid stuff. Thank God for me that I don't need AI to do God for me that I don't need AI to do God for me that I don't need AI to do that.

that. that. >> But you but we started doing that on at >> But you but we started doing that on at >> But you but we started doing that on at the device level a long long time ago. the device level a long long time ago. the device level a long long time ago. And all the biggest most successful IoT And all the biggest most successful IoT And all the biggest most successful IoT companies learn how to build simple companies learn how to build simple companies learn how to build simple branching logic and push it down to the branching logic and push it down to the branching logic and push it down to the device and do there. And so the same device and do there. And so the same device and do there. And so the same because if all I'm doing is doing, you because if all I'm doing is doing, you because if all I'm doing is doing, you know, threshold ranges and stuff like know, threshold ranges and stuff like know, threshold ranges and stuff like that, you're right. I don't have to do that, you're right. I don't have to do that, you're right. I don't have to do it in the cloud. I can do it right on it in the cloud. I can do it right on it in the cloud. I can do it right on the device. It's easy. Use the right the device. It's easy. Use the right the device. It's easy. Use the right thing. thing. thing. >> I think I think you still you still have >> I think I think you still you still have >> I think I think you still you still have to get back to that damn age old to get back to that damn age old to get back to that damn age old question. question. question. The problem are you trying to The problem are you trying to The problem are you trying to solve? solve? solve? >> Boom. >> Boom. >> Boom. >> I don't even remember it having the f >> I don't even remember it having the f >> I don't even remember it having the f word in it, but yeah. word in it, but yeah. word in it, but yeah. >> Sorry. Sorry. >> Sorry. Sorry. >> Sorry. Sorry. >> That's how you kick the meeting off. >> That's how you kick the meeting off. >> That's how you kick the meeting off. [laughter] [laughter] [laughter] >> Flavor. Put a little steak on the >> Flavor. Put a little steak on the >> Flavor. Put a little steak on the delivery. Is that it? delivery. Is that it? delivery. Is that it? >> No flavor there. I mean, for real, >> No flavor there. I mean, for real, >> No flavor there. I mean, for real, right? I mean, look, when people are right? I mean, look, when people are right? I mean, look, when people are saying, you know, again, and and Rob, to saying, you know, again, and and Rob, to saying, you know, again, and and Rob, to your point, I first and foremost, I've your point, I first and foremost, I've your point, I first and foremost, I've read I'm I'm 75% through the book and read I'm I'm 75% through the book and read I'm I'm 75% through the book and and and there is nothing that I've read and and there is nothing that I've read and and there is nothing that I've read that I would say, well, Rob, I think you that I would say, well, Rob, I think you that I would say, well, Rob, I think you kind of got this wrong. Well, I think kind of got this wrong. Well, I think kind of got this wrong. Well, I think it's you're you're you're hitting the it's you're you're you're hitting the it's you're you're you're hitting the nail on the head. I agree with it. I nail on the head. I agree with it. I nail on the head. I agree with it. I will be quoting bits and pieces of it.

will be quoting bits and pieces of it. will be quoting bits and pieces of it. >> Yeah, keep it simple. Geez. But the key >> Yeah, keep it simple. Geez. But the key >> Yeah, keep it simple. Geez. But the key is still mean all these people that are is still mean all these people that are is still mean all these people that are like redefining the edge down to the end like redefining the edge down to the end like redefining the edge down to the end point. Let me let me tell you something point. Let me let me tell you something point. Let me let me tell you something that that a lot of them are 100% that that a lot of them are 100% that that a lot of them are 100% missing. Compliance standards and cyber missing. Compliance standards and cyber missing. Compliance standards and cyber security. security. security. All right, those three elements when you All right, those three elements when you All right, those three elements when you get down to the endpoint and we can take get down to the endpoint and we can take get down to the endpoint and we can take energy and water metering. Take water energy and water metering. Take water energy and water metering. Take water metering. Sure. metering. Sure. metering. Sure. >> I mean >> I mean >> I mean >> AIWA is going to be asking for audit >> AIWA is going to be asking for audit >> AIWA is going to be asking for audit records. Do you need something down at records. Do you need something down at records. Do you need something down at that meter that's only reporting it's that meter that's only reporting it's that meter that's only reporting it's it's logging its interval data and it's it's logging its interval data and it's it's logging its interval data and it's reporting up once a day. Why do you need reporting up once a day. Why do you need reporting up once a day. Why do you need anything learning down there? You don't. anything learning down there? You don't. anything learning down there? You don't. >> Yeah. No. You know what? And and and >> Yeah. No. You know what? And and and >> Yeah. No. You know what? And and and here's the one of the things that um I'm here's the one of the things that um I'm here's the one of the things that um I'm talking about a lot more these days is talking about a lot more these days is talking about a lot more these days is helping people understand that a most a helping people understand that a most a helping people understand that a most a vast majority of AI if not all of it vast majority of AI if not all of it vast majority of AI if not all of it doesn't learn. doesn't learn. doesn't learn. You know, inference isn't learning. it's You know, inference isn't learning. it's You know, inference isn't learning. it's applying whatever it is that the the applying whatever it is that the the applying whatever it is that the the model has been trained on learning is an model has been trained on learning is an model has been trained on learning is an entirely different mechanism and it's entirely different mechanism and it's entirely different mechanism and it's very you know even with uh you know you very you know even with uh you know you very you know even with uh you know you have these people going around saying have these people going around saying have these people going around saying well we have a learning AI well we have a learning AI well we have a learning AI um the reason why they say that is um the reason why they say that is um the reason why they say that is because LLMs in with the current because LLMs in with the current because LLMs in with the current methodologies and systems they just methodologies and systems they just methodologies and systems they just don't learn you train them but training don't learn you train them but training don't learn you train them but training isn't learning isn't learning isn't learning and um this is one of the things that and um this is one of the things that and um this is one of the things that I've had to help a lot of folks start to

I've had to help a lot of folks start to I've had to help a lot of folks start to understand better because especially if understand better because especially if understand better because especially if you're just a a business level person you're just a a business level person you're just a a business level person who's not really technical hasn't really who's not really technical hasn't really who's not really technical hasn't really dealt with AI you you literally believe dealt with AI you you literally believe dealt with AI you you literally believe these things learn and they don't you these things learn and they don't you these things learn and they don't you know the models don't learn and so uh know the models don't learn and so uh know the models don't learn and so uh and then the mechanism for actually and then the mechanism for actually and then the mechanism for actually making it learn is very very expensive making it learn is very very expensive making it learn is very very expensive uh you know in terms of price in terms uh you know in terms of price in terms uh you know in terms of price in terms of like complexity of the the system of like complexity of the the system of like complexity of the the system that you have to put together to make it that you have to put together to make it that you have to put together to make it create that illusion. You know, create that illusion. You know, create that illusion. You know, >> like if you do the post- training, the >> like if you do the post- training, the >> like if you do the post- training, the fine-tuning to make your pre-trained fine-tuning to make your pre-trained fine-tuning to make your pre-trained model learn model learn model learn >> versus just inference on what you >> versus just inference on what you >> versus just inference on what you already know or a lot of people are already know or a lot of people are already know or a lot of people are finding it more economical just to do finding it more economical just to do finding it more economical just to do rag I guess. rag I guess. rag I guess. >> I mean people there's some people that >> I mean people there's some people that >> I mean people there's some people that are doing closed loop with Laura and are doing closed loop with Laura and are doing closed loop with Laura and stuff like that but stuff like that but stuff like that but >> and then now with the agentic stuff >> and then now with the agentic stuff >> and then now with the agentic stuff they're using like MD files to store they're using like MD files to store they're using like MD files to store like context That's cheating. That's like context That's cheating. That's like context That's cheating. That's That's not the actual AI. That's not the actual AI. That's not the actual AI. >> It's not cheating. It's it's setting the >> It's not cheating. It's it's setting the >> It's not cheating. It's it's setting the stage. But the problem with markdowns is stage. But the problem with markdowns is stage. But the problem with markdowns is that they they they age and and they that they they they age and and they that they they they age and and they drift drift drift >> the real with the real world changing >> the real with the real world changing >> the real with the real world changing which is which is why from from our which is which is why from from our which is which is why from from our perspective when we're talking about perspective when we're talking about perspective when we're talking about these things because you know people these things because you know people these things because you know people will say you know well you know where's will say you know well you know where's will say you know well you know where's your AI and it's like your AI and it's like your AI and it's like >> I'm like are you looking at the >> I'm like are you looking at the >> I'm like are you looking at the dashboard? Yes. You see things changing.

dashboard? Yes. You see things changing. dashboard? Yes. You see things changing. Yeah. Then you saw the AI. Don't worry Yeah. Then you saw the AI. Don't worry Yeah. Then you saw the AI. Don't worry about about about >> don't worry about it. >> don't worry about it. >> don't worry about it. >> That's a good point. That's a good >> That's a good point. That's a good >> That's a good point. That's a good point. Reality comes from what you point. Reality comes from what you point. Reality comes from what you trained the model on. That's trained the model on. That's trained the model on. That's >> right. And yeah, and they don't >> right. And yeah, and they don't >> right. And yeah, and they don't understand, you know, understand, you know, understand, you know, >> how these things work. And when we start >> how these things work. And when we start >> how these things work. And when we start talking about agents, we've been dealing talking about agents, we've been dealing talking about agents, we've been dealing with, you know, what we would call with, you know, what we would call with, you know, what we would call agents, web agents, forever. agents, web agents, forever. agents, web agents, forever. >> Yeah. >> Yeah. >> Yeah. >> It's HTTP sockets that are spread out >> It's HTTP sockets that are spread out >> It's HTTP sockets that are spread out all over the place. all over the place. all over the place. It's a distributed database. It's but It's a distributed database. It's but It's a distributed database. It's but it's the rules by which each endpoint is it's the rules by which each endpoint is it's the rules by which each endpoint is actually operating under. I'm not actually operating under. I'm not actually operating under. I'm not learning on the endpoint. The learning learning on the endpoint. The learning learning on the endpoint. The learning is happening in flight based on state is happening in flight based on state is happening in flight based on state change. change. change. >> It's simple. >> It's simple. >> It's simple. >> Yeah. >> Yeah. >> Yeah. >> But it's that complex as well. >> But it's that complex as well. >> But it's that complex as well. >> Yeah. But I remember I remember Bill >> Yeah. But I remember I remember Bill >> Yeah. But I remember I remember Bill when you were in Japan and you were when you were in Japan and you were when you were in Japan and you were writing all about you were writing all writing all about you were writing all writing all about you were writing all about the drift and how that happens. about the drift and how that happens. about the drift and how that happens. And I think that white paper you put on And I think that white paper you put on And I think that white paper you put on [laughter] [laughter] [laughter] you put out that white paper I think it you put out that white paper I think it you put out that white paper I think it was called Tokyo Drift.

was called Tokyo Drift. was called Tokyo Drift. >> Yeah. I mean and you have to be smooth >> Yeah. I mean and you have to be smooth >> Yeah. I mean and you have to be smooth with it, baby. [laughter] You got to be with it, baby. [laughter] You got to be with it, baby. [laughter] You got to be smooth with it. smooth with it. smooth with it. >> It was good. It was good stuff man. >> It was good. It was good stuff man. >> It was good. It was good stuff man. That's good stuff. Absolutely. That's good stuff. Absolutely. That's good stuff. Absolutely. [laughter] >> Digital twins can help a drift. >> Digital twins can help a drift. >> Absolutely. >> Absolutely. >> Absolutely. Absolutely. Absolutely. Absolutely. >> Context. Context. >> Context. Context. >> Context. Context. >> Context. >> Context. >> Context. >> Yeah. >> Yeah. >> Yeah. >> You know, context. People don't >> You know, context. People don't >> You know, context. People don't understand. They don't They really don't understand. They don't They really don't understand. They don't They really don't understand how long ago and see. It had understand how long ago and see. It had understand how long ago and see. It had to be when we did that first utility. to be when we did that first utility. to be when we did that first utility. Uh, and we were only given endpoint Uh, and we were only given endpoint Uh, and we were only given endpoint data, meter reads for about a year. data, meter reads for about a year. data, meter reads for about a year. >> But yet, when you see the twin, I'm >> But yet, when you see the twin, I'm >> But yet, when you see the twin, I'm showing you distribution transformers. showing you distribution transformers. showing you distribution transformers. I'm showing you feeders. I'm showing you I'm showing you feeders. I'm showing you I'm showing you feeders. I'm showing you substations and the explosion of them, substations and the explosion of them, substations and the explosion of them, meaning that we can roll it up and we meaning that we can roll it up and we meaning that we can roll it up and we can click down. can click down. can click down. >> And people are like, "How did you do >> And people are like, "How did you do >> And people are like, "How did you do that?" And I'm like, "That's inference. that?" And I'm like, "That's inference. that?" And I'm like, "That's inference. It's math." It's math." It's math." >> It's all math. Yeah. >> It's all math. Yeah. >> It's all math. Yeah. >> It's it 100%. It's all math.

>> It's it 100%. It's all math. >> It's it 100%. It's all math. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. >> Yeah. It's true that you're right. The >> Yeah. It's true that you're right. The >> Yeah. It's true that you're right. The >> ultimate Ford deployed engineer right >> ultimate Ford deployed engineer right >> ultimate Ford deployed engineer right there built [laughter] there built [laughter] there built [laughter] >> in the gap of the ugly. This This is >> in the gap of the ugly. This This is >> in the gap of the ugly. This This is what your forward deployed engineer what your forward deployed engineer what your forward deployed engineer looks like. looks like. looks like. >> Yeah, >> Yeah, >> Yeah, >> that's right. >> that's right. >> that's right. >> Yeah. >> Yeah. >> Yeah. >> And so all those newly hired forward >> And so all those newly hired forward >> And so all those newly hired forward deployed engineers at all these deployed engineers at all these deployed engineers at all these companies, if they're not working and companies, if they're not working and companies, if they're not working and living in the gap of the ugly, and if living in the gap of the ugly, and if living in the gap of the ugly, and if they don't look like Bill, they don't look like Bill, they don't look like Bill, >> it's a hoax. It's fake. Fake news >> it's a hoax. It's fake. Fake news >> it's a hoax. It's fake. Fake news people. Fake news. Yeah, people. Fake news. Yeah, people. Fake news. Yeah, >> Bill. You know what's funny is that on >> Bill. You know what's funny is that on >> Bill. You know what's funny is that on YouTube I keep getting served that scene YouTube I keep getting served that scene YouTube I keep getting served that scene in um training day where Denzel in um training day where Denzel in um training day where Denzel Washington Washington Washington go on me. [laughter] go on me. [laughter] go on me. [laughter] [cough] [cough] [cough] I'm just waiting for you. I'm just waiting for you. I'm just waiting for you. >> You going you going to call him on me? >> You going you going to call him on me? >> You going you going to call him on me? [laughter] [laughter] [laughter] >> Yeah. Well, it's funny that you say >> Yeah. Well, it's funny that you say >> Yeah. Well, it's funny that you say Denzel because I was thinking that when Denzel because I was thinking that when Denzel because I was thinking that when you were holding up the book and then we you were holding up the book and then we you were holding up the book and then we were talking about the collapse of were talking about the collapse of were talking about the collapse of society when we've run out of money on society when we've run out of money on society when we've run out of money on all this AI funding that we're doing for all this AI funding that we're doing for all this AI funding that we're doing for Jensen. I was thinking of a Jensen. I was thinking of a Jensen. I was thinking of a post-apocalyptic world to save and it post-apocalyptic world to save and it post-apocalyptic world to save and it was was was >> Did you see that movie The Book of Eli?

>> Did you see that movie The Book of Eli? >> Did you see that movie The Book of Eli? >> Yeah, Denzel Washington. >> Yeah, Denzel Washington. >> Yeah, Denzel Washington. >> Yeah, Denzel. And he was blind, but he >> Yeah, Denzel. And he was blind, but he >> Yeah, Denzel. And he was blind, but he had it was all, you know, the book and had it was all, you know, the book and had it was all, you know, the book and everything. So, it's going to be IoT everything. So, it's going to be IoT everything. So, it's going to be IoT saves the planet deal. And it's going to saves the planet deal. And it's going to saves the planet deal. And it's going to be the book of Eli. That's what's going be the book of Eli. That's what's going be the book of Eli. That's what's going to save. We're going to pull it all back to save. We're going to pull it all back to save. We're going to pull it all back together. We'll be in the rubble, the together. We'll be in the rubble, the together. We'll be in the rubble, the wasteland, wasteland, wasteland, >> GPUs laying all over the place, all over >> GPUs laying all over the place, all over >> GPUs laying all over the place, all over the ground, stuff like that. Yeah, I'll the ground, stuff like that. Yeah, I'll the ground, stuff like that. Yeah, I'll go get I'll go get a trench coat and go get I'll go get a trench coat and go get I'll go get a trench coat and some glasses and and shades and whatnot some glasses and and shades and whatnot some glasses and and shades and whatnot and I'll and I'll and I'll >> and a gigantic freaking knife. That >> and a gigantic freaking knife. That >> and a gigantic freaking knife. That knife was scary. knife was scary. knife was scary. >> Yeah. Yeah. I get a machete. >> Yeah. Yeah. I get a machete. >> Yeah. Yeah. I get a machete. >> Yeah. That wasn't a machete. That was >> Yeah. That wasn't a machete. That was >> Yeah. That wasn't a machete. That was like something else. That was like like something else. That was like like something else. That was like >> No, but but that's the closest I'm going >> No, but but that's the closest I'm going >> No, but but that's the closest I'm going to get. [laughter] to get. [laughter] to get. [laughter] >> There you go. >> There you go. >> There you go. >> Well, but you know, often times you need >> Well, but you know, often times you need >> Well, but you know, often times you need an equalizer. an equalizer. an equalizer. >> Yeah. [laughter] >> Yeah. [laughter] >> Yeah. [laughter] >> You're so bad, dude. >> You're so bad, dude. >> You're so bad, dude. You're so bad. You're so bad. You're so bad. Yeah, I think we gota we got to call it Yeah, I think we gota we got to call it Yeah, I think we gota we got to call it even I mean um Bill I wish you uh tuned even I mean um Bill I wish you uh tuned even I mean um Bill I wish you uh tuned in earlier and it would have been fun to in earlier and it would have been fun to in earlier and it would have been fun to get your feedback on some of the your get your feedback on some of the your get your feedback on some of the your reaction to uh the the antics of these reaction to uh the the antics of these reaction to uh the the antics of these investment banks and investment banks and investment banks and >> oh my god >> oh my god >> oh my god well this episode would have been full well this episode would have been full well this episode would have been full of fbombs then oh yeah of fbombs then oh yeah of fbombs then oh yeah >> well no no Pete already handled a lot of >> well no no Pete already handled a lot of >> well no no Pete already handled a lot of that for [laughter] that for [laughter] that for [laughter] that covered that covered that covered >> excellent >> excellent >> excellent >> way to go Pete way to go Pete >> way to go Pete way to go Pete >> way to go Pete way to go Pete >> to go man Yes, but we're actually >> to go man Yes, but we're actually >> to go man Yes, but we're actually decided we're already going to write the decided we're already going to write the decided we're already going to write the script for the next movie that's gonna script for the next movie that's gonna script for the next movie that's gonna be like the big short. That's the next

be like the big short. That's the next be like the big short. That's the next version of the big short that's going to version of the big short that's going to version of the big short that's going to happen as the whole economy collapses. happen as the whole economy collapses. happen as the whole economy collapses. But now that we've got Jensen having all But now that we've got Jensen having all But now that we've got Jensen having all our buddies at Goldman backs stop the our buddies at Goldman backs stop the our buddies at Goldman backs stop the economy with 500 billion to keep buying economy with 500 billion to keep buying economy with 500 billion to keep buying GPUs, get back in there and sell sell. GPUs, get back in there and sell sell. GPUs, get back in there and sell sell. >> Yeah. [laughter] >> Yeah. [laughter] >> Yeah. [laughter] Yeah. Yeah. Yeah. >> I'm just I'm just thinking about >> I'm just I'm just thinking about >> I'm just I'm just thinking about recreating dumb money. Money. recreating dumb money. Money. recreating dumb money. Money. [clears throat] [clears throat] [clears throat] >> There you go. Yeah. >> There you go. Yeah. >> There you go. Yeah. >> Yeah, I'm down with that. >> Yeah, I'm down with that. >> Yeah, I'm down with that. >> But yes, what's that movie going to look >> But yes, what's that movie going to look >> But yes, what's that movie going to look like? You know, it's it's a it's a like? You know, it's it's a it's a like? You know, it's it's a it's a handful of people in Silicon Valley handful of people in Silicon Valley handful of people in Silicon Valley >> and then we'll see the death throws >> and then we'll see the death throws >> and then we'll see the death throws happening in Wall Street and you know, happening in Wall Street and you know, happening in Wall Street and you know, but we'll [snorts] we'll have some humor but we'll [snorts] we'll have some humor but we'll [snorts] we'll have some humor in there hopefully. in there hopefully. in there hopefully. >> You know what? We we might have to >> You know what? We we might have to >> You know what? We we might have to resort to bartering in into resort to bartering in into resort to bartering in into >> might be bartering. >> might be bartering. >> might be bartering. >> Yeah. >> Yeah. >> Yeah. >> Well, now that we know that a GPU is an >> Well, now that we know that a GPU is an >> Well, now that we know that a GPU is an investable asset, according to Jensen, investable asset, according to Jensen, investable asset, according to Jensen, we'll be able to barter. I'm going to we'll be able to barter. I'm going to we'll be able to barter. I'm going to trade this GPU for a ham sandwich. trade this GPU for a ham sandwich. trade this GPU for a ham sandwich. >> There you go. Bring it. Yeah. Bring it >> There you go. Bring it. Yeah. Bring it >> There you go. Bring it. Yeah. Bring it to your restaurant lunch place today and to your restaurant lunch place today and to your restaurant lunch place today and say, I'll give you this GPU for this ham say, I'll give you this GPU for this ham say, I'll give you this GPU for this ham sandwich. See how that works out.

sandwich. See how that works out. sandwich. See how that works out. >> Thankfully, we're starting to We have >> Thankfully, we're starting to We have >> Thankfully, we're starting to We have like a little mini farm in our backyard like a little mini farm in our backyard like a little mini farm in our backyard now. So, we'll have some now. So, we'll have some now. So, we'll have some >> Well, that's good. You're preparing for >> Well, that's good. You're preparing for >> Well, that's good. You're preparing for the AI apocalypse. the AI apocalypse. the AI apocalypse. >> Grow your own food, everybody. >> Grow your own food, everybody. >> Grow your own food, everybody. >> That's right. Get ready, >> That's right. Get ready, >> That's right. Get ready, >> please. And tell everyone to stop eating >> please. And tell everyone to stop eating >> please. And tell everyone to stop eating at Taco Bell. That we've been saying at Taco Bell. That we've been saying at Taco Bell. That we've been saying [laughter] it for the longest. Nothing [laughter] it for the longest. Nothing [laughter] it for the longest. Nothing good comes from that. good comes from that. good comes from that. >> I think they're doing okay with that as >> I think they're doing okay with that as >> I think they're doing okay with that as is without intervention. I think people is without intervention. I think people is without intervention. I think people are getting are getting are getting >> Yeah. But you know, I was trying to get >> Yeah. But you know, I was trying to get >> Yeah. But you know, I was trying to get on this rapid weight loss program. on this rapid weight loss program. on this rapid weight loss program. [laughter] >> You don't need GP1, you just need Taco >> You don't need GP1, you just need Taco Bell one. [laughter] >> It's like I go to the grocery store, >> It's like I go to the grocery store, it's like, just find everything from it's like, just find everything from it's like, just find everything from that Taylor Farms company. I feel so bad that Taylor Farms company. I feel so bad that Taylor Farms company. I feel so bad for them. But yeah, for them. But yeah, for them. But yeah, >> they did it again. They got hit again. >> they did it again. They got hit again. >> they did it again. They got hit again. recalls again on on uh what was it? Uh recalls again on on uh what was it? Uh recalls again on on uh what was it? Uh >> jalapenos. Yeah, jalapenos are bad. >> jalapenos. Yeah, jalapenos are bad. >> jalapenos. Yeah, jalapenos are bad. Yeah. Yeah. Yeah. >> I'm like, you just can't eat anything >> I'm like, you just can't eat anything >> I'm like, you just can't eat anything anymore. I mean, jalapenos already had anymore. I mean, jalapenos already had anymore. I mean, jalapenos already had the internal combustion going, but now the internal combustion going, but now the internal combustion going, but now it's just going to internal [laughter] >> turbo. Yeah, turbo on that thing.

>> turbo. Yeah, turbo on that thing. >> It's a GLP2. >> It's a GLP2. >> It's a GLP2. >> Yeah. >> Yeah. >> Yeah. >> So, oh my god, that's pretty impressive >> So, oh my god, that's pretty impressive >> So, oh my god, that's pretty impressive stuff. It works though. Apparently, it stuff. It works though. Apparently, it stuff. It works though. Apparently, it has better effects than GLP1s do. has better effects than GLP1s do. has better effects than GLP1s do. Yeah. [laughter] Yeah. [laughter] Yeah. [laughter] >> All right. >> All right. >> All right. >> All right. All right. All right. >> All right. All right. All right. >> All right. All right. All right. >> Hey everyone. So, thanks for tuning in. >> Hey everyone. So, thanks for tuning in. >> Hey everyone. So, thanks for tuning in. Uh we really appreciate your viewership Uh we really appreciate your viewership Uh we really appreciate your viewership and your listenership. And uh remember, and your listenership. And uh remember, and your listenership. And uh remember, we do this just for the fun of it. Uh we do this just for the fun of it. Uh we do this just for the fun of it. Uh you know, hopefully um you don't take you know, hopefully um you don't take you know, hopefully um you don't take anything that we said seriously, even anything that we said seriously, even anything that we said seriously, even though we talked about very serious though we talked about very serious though we talked about very serious stuff. But remember, hey, if you don't stuff. But remember, hey, if you don't stuff. But remember, hey, if you don't like charity, you don't want to save like charity, you don't want to save like charity, you don't want to save communities, but you love fashion, pick communities, but you love fashion, pick communities, but you love fashion, pick up a IoT coffee talk shirt. We still up a IoT coffee talk shirt. We still up a IoT coffee talk shirt. We still have them. So, just go to www.iot have them. So, just go to www.iot have them. So, just go to www.iot coffee.com and pick your your shirt up. coffee.com and pick your your shirt up. coffee.com and pick your your shirt up. All proceeds will go to our charity All proceeds will go to our charity All proceeds will go to our charity which is elevator communities which which is elevator communities which which is elevator communities which you're going to start to blow up because you're going to start to blow up because you're going to start to blow up because Rob has his book. And if you don't have Rob has his book. And if you don't have Rob has his book. And if you don't have this, get it because this is going to be this, get it because this is going to be this, get it because this is going to be the new book of Eli. [clears throat] the new book of Eli. [clears throat] the new book of Eli. [clears throat] you know, post the economy you know, post the economy you know, post the economy collapse, which I think we're gonna call collapse, which I think we're gonna call collapse, which I think we're gonna call it, uh, you know, um, you know, anyways, it, uh, you know, um, you know, anyways, it, uh, you know, um, you know, anyways, but uh, remember to follow us uh, at but uh, remember to follow us uh, at but uh, remember to follow us uh, at www.iotalk.com.

We're on YouTube obviously because We're on YouTube obviously because you're watching us on YouTube, but then you're watching us on YouTube, but then you're watching us on YouTube, but then also Buzzprout. [clears throat] also Buzzprout. [clears throat] also Buzzprout. [clears throat] So any to us and So any to us and So any to us and >> Yes. Get get buzzed. >> Yes. Get get buzzed. >> Yes. Get get buzzed. >> Yeah. Yeah. And so we will see you next >> Yeah. Yeah. And so we will see you next >> Yeah. Yeah. And so we will see you next week. All right, everyone. Take care. week. All right, everyone. Take care. week. All right, everyone. Take care. Bye. Bye-bye. Adios. Bye. Bye-bye. Adios. Bye. Bye-bye. Adios. [music]