Garry Tan

Oh yeah, yeah, yeah.

Those are model companies like DeepSeek or Quen.

How did that change things when they appeared?

It scared the crap out of everyone, and Nvidia stock went down by 10%, and I bought on that day, which was funny.

So I think there are two things happening.

One is that it's good for the pirates.

It's good for Team Liberty because it showed that there can't be just one.

There can be many, many model companies out there, and that's going to be really important.

But the second thing that is scary and maybe bad is that the reason why the Chinese companies are able to do that is they're actually stealing the intelligence right out of the giant American model companies.

So two things can be true at once.

It can be true that, and ironically...

Chinese companies that are operating outside of the American and Northern American and European hegemony of copyright law can do this and then they can release it.

And then at the same time, they're sort of doing a thing that is not totally clear that should be legal or good.

Aren't all the American companies built on stolen material as well, though?

Yeah, that's a strong argument.

Yeah.

I mean, you could say that's fair use and it's kind of odd for the big model companies to come and say, actually, this is just our copyright.

They didn't write anything.

They didn't create anything.

Bunched it up.