Brad Gerstner

speaker

3,957 appearances 19 recordings 4 series first heard Apr 2025 last heard 17 Sep

Brad Gerstner’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 17 in all, peaking in Jun 2026 with 4.

Appearances

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All-In with Chamath, Jason, Sacks & Friedberg · More Trillion Dollar IPOs, Anthropic $3T, Zuck's Price War, China Ends Open Source?, Trump Accounts · 11 Jul 2026 podcast

So the fact that we're even talking anywhere close to this tells us something different is going on here.

I think the thing that's different...

is that intelligence is the largest TAM we've ever seen in the history of the world.

These guys are penetrating it.

So yes, the super sophisticated companies, the 8090 and Chamath are helping optimize their token spend that are early adopters.

100% that's occurring, but it's not really changing the trajectory that the frontier labs are on.

Yeah, we've seen we've seen 90% reductions in the price of tokens for each of the last two and a half years.

We've talked a lot about Jevons paradox, which I think you're referencing here, which is you're going to use a hell of a lot more when it happens.

I think the central debate right now in AI is the one that Chamath keeps pointing us back in the direction of, which is for 18 months since the deep seek moment, right?

When the deep seek moment happened, the markets fell 40%.

And there was a reason for that.

Many started arguing that the frontier models were screwed, that open source was going to kill them, that they were closing the intelligence gap, that model routing was going to make it easier to route these tasks to cheap tokens.

But despite all of those arguments, and now we're 18 months into this, and I had this back and forth with Gurley a lot.

I love open source.

I want all the competition in the world.

Let's be very clear.

But despite all of those arguments, the facts on the field are just the opposite.

The share of economic value, right?

There's this tweet this week from Jesse Zhang that we ought to pull up here.

You know, the economic value, the share of wallet is actually increasing, right?

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