Dwight Churchill

The scarcity aspect too is that some of these are not new problems. The corollary around movies is that a Michael Bay film, $250 million budget or something like that blows up half LA, Transformers or something, I don't know. Tons of people go out and see it, blockbuster film, but all those people are paying $25 per ticket or something.

The scarcity aspect too is that some of these are not new problems. The corollary around movies is that a Michael Bay film, $250 million budget or something like that blows up half LA, Transformers or something, I don't know. Tons of people go out and see it, blockbuster film, but all those people are paying $25 per ticket or something.

The same thing happens for a low-budget film if they can get into the box office, but the ticket price is the exact same. I'm actually very excited about a world in which lower-budget filmmakers and video creators in general can just create more and do more complex things with not necessarily the budget restraints. That's a massive hurdle for film creators and just creators in general.

The same thing happens for a low-budget film if they can get into the box office, but the ticket price is the exact same. I'm actually very excited about a world in which lower-budget filmmakers and video creators in general can just create more and do more complex things with not necessarily the budget restraints. That's a massive hurdle for film creators and just creators in general.

I think it just up-levels everyone. I think the craft maybe shifts a little bit or this and that, but those high budget films, as Gaurav mentioned, like technically it's generated, it's not synthetic or it's not real. Some of those things are real, I've realized, but it maybe even creates more premium on some of those aspects.

I think it just up-levels everyone. I think the craft maybe shifts a little bit or this and that, but those high budget films, as Gaurav mentioned, like technically it's generated, it's not synthetic or it's not real. Some of those things are real, I've realized, but it maybe even creates more premium on some of those aspects.

What our duty ends up being then is we have to give them all the resources and such to be able to do their work. There are a lot of these folks, you know, in AI labs that can't release anything they're working on for better or worse, at least from that place's opinion.

What our duty ends up being then is we have to give them all the resources and such to be able to do their work. There are a lot of these folks, you know, in AI labs that can't release anything they're working on for better or worse, at least from that place's opinion.

And when you're able to bring some of the ingredients that we have, whether it be like compute data, the environment, it ends up not being that complicated in terms of recruiting negotiation and stuff.

And when you're able to bring some of the ingredients that we have, whether it be like compute data, the environment, it ends up not being that complicated in terms of recruiting negotiation and stuff.

And the pricing around labor and hot topic right now is seed licensing versus labor or like aligning to labor costs or something. I think people are maybe rushing into the labor argument that it actually has a very similar path or has had a very similar path. Turns out the CFO would like that number to go down. It's not some special number or something.

And the pricing around labor and hot topic right now is seed licensing versus labor or like aligning to labor costs or something. I think people are maybe rushing into the labor argument that it actually has a very similar path or has had a very similar path. Turns out the CFO would like that number to go down. It's not some special number or something.

And if you remove the human element to it, my guess is that that probably only puts more downward pressure on it. It's like, great, we can do more with less. And it's like, perfect. Whatever the software is doing, if it's writing code or if it's the automated SDR, you know, whatever it might be, like there is downward pressure against those things.

And if you remove the human element to it, my guess is that that probably only puts more downward pressure on it. It's like, great, we can do more with less. And it's like, perfect. Whatever the software is doing, if it's writing code or if it's the automated SDR, you know, whatever it might be, like there is downward pressure against those things.

I think people are getting a little excited about running towards that. And don't get me wrong, pricing towards output and such is pretty cool. I'm sure there is something there and there's some equilibrium we'll find. But I do think people are rushing to it maybe a little faster than they should be in that there actually might be more continuing alpha in the typical subscription.

I think people are getting a little excited about running towards that. And don't get me wrong, pricing towards output and such is pretty cool. I'm sure there is something there and there's some equilibrium we'll find. But I do think people are rushing to it maybe a little faster than they should be in that there actually might be more continuing alpha in the typical subscription.

yeah sure maybe that's not the salesforce seat the classic comparable but there's just some market exploration that needs to happen and we probably haven't fully seen that yet

yeah sure maybe that's not the salesforce seat the classic comparable but there's just some market exploration that needs to happen and we probably haven't fully seen that yet

Maybe from a public equity side, there are a lot of smart people out there, so I'm not going to give them too hard. I don't think it's fully being appreciated how much this is changing. We're like, everyone's saying that and all that. But I think there's continued talk of, oh, there's all this R&D spend or capital expenditure. And it's like, where's the value and stuff?

Maybe from a public equity side, there are a lot of smart people out there, so I'm not going to give them too hard. I don't think it's fully being appreciated how much this is changing. We're like, everyone's saying that and all that. But I think there's continued talk of, oh, there's all this R&D spend or capital expenditure. And it's like, where's the value and stuff?