Brad Jacobs

I'm down to a very short list.

And accounting was one of the ones I looked at.

And I got to be careful because every business I have has accountants.

I don't want to say anything that annoys my auditors, but I think there's a real existential risk to accounting.

I think AI in five years, 10 years, 15 years, I don't know the timeframe, could do everything that accountants do right now.

Particularly...

the ones that are just doing individuals' personal income taxes, for example, I think that's very mechanical.

And anything that's mechanical and just process and can be formulaic, AI is going to rip that out, just do it for cheaper or for free even.

So I don't want to get into a business where technology trends are going to be my enemy.

I want to get into a business where technology trends are going to be my friend.

I want to get into something where AI is going to help us grow margins, help us grow the business.

I'd like to be in businesses that you can touch and kick and there's nothing physical there to it.

That's not necessarily better.

It's just me.

That's what I like.

I gravitate towards things like that.

I like to be in businesses where the metaverse is not going to replace it.

So there's certain things like your house.

Eventually, even if all day long you're wearing goggles or a contact lens or somehow you're in the metaverse for a large part of your time, you're probably going to still sleep in a bed and you're probably going to still take a real shower with a real shower and you're going to brush your teeth with a real toothbrush.

There's other things that will be replaced, will be placed by AI and that's no longer going to be.