Jeff Wang

I think ServiceNow will start to really flow through some of the ProPlus price increases later this year and into next year as well. I think you're starting to see the initial hints that AI is going to come through in terms of incremental ARPU for a lot of these companies. Now, it's happened probably a little bit more slowly than I would have guessed.

I probably would have been more first half this year as opposed to back half this year. But I definitely think you're starting to see it. And I think you're starting to see it because you see the features that can be productized and the clarity from other companies. What I mean by that, so if you look at what Meta has done is really just take what ByteDance has done. Right.

I probably would have been more first half this year as opposed to back half this year. But I definitely think you're starting to see it. And I think you're starting to see it because you see the features that can be productized and the clarity from other companies. What I mean by that, so if you look at what Meta has done is really just take what ByteDance has done. Right.

I probably would have been more first half this year as opposed to back half this year. But I definitely think you're starting to see it. And I think you're starting to see it because you see the features that can be productized and the clarity from other companies. What I mean by that, so if you look at what Meta has done is really just take what ByteDance has done. Right.

With a recommendation engine now, like I'm plugging a bunch of GPUs into it. I'm copying the same thing and I'm just rolling out to my customers. Co-pilots, I think you will be able to use what you see at GitHub and be able to roll it out across many different companies.

With a recommendation engine now, like I'm plugging a bunch of GPUs into it. I'm copying the same thing and I'm just rolling out to my customers. Co-pilots, I think you will be able to use what you see at GitHub and be able to roll it out across many different companies.

With a recommendation engine now, like I'm plugging a bunch of GPUs into it. I'm copying the same thing and I'm just rolling out to my customers. Co-pilots, I think you will be able to use what you see at GitHub and be able to roll it out across many different companies.

If you look at enterprise semantic search, if you look at case summarization, these are all features that have been proven to deliver ROI at certain companies. And now you could just pull that into other companies, other products. I think that's going to deliver value.

If you look at enterprise semantic search, if you look at case summarization, these are all features that have been proven to deliver ROI at certain companies. And now you could just pull that into other companies, other products. I think that's going to deliver value.

If you look at enterprise semantic search, if you look at case summarization, these are all features that have been proven to deliver ROI at certain companies. And now you could just pull that into other companies, other products. I think that's going to deliver value.

Now, what I don't know, and this is where I do agree with David, there is a massive amount of capital that's going into not the productization side, but the model training research side. That is where all of the capital is going.

Now, what I don't know, and this is where I do agree with David, there is a massive amount of capital that's going into not the productization side, but the model training research side. That is where all of the capital is going.

Now, what I don't know, and this is where I do agree with David, there is a massive amount of capital that's going into not the productization side, but the model training research side. That is where all of the capital is going.

I've been surprised at how the scaling has continued, how just throwing more compute, more data has improved these models. I don't know where that ultimately gets to, but I do think a hundred billion, there are not a lot of companies out there that can spend a hundred billion. What I do believe is you don't need 10 foundation models out there.

I've been surprised at how the scaling has continued, how just throwing more compute, more data has improved these models. I don't know where that ultimately gets to, but I do think a hundred billion, there are not a lot of companies out there that can spend a hundred billion. What I do believe is you don't need 10 foundation models out there.

I've been surprised at how the scaling has continued, how just throwing more compute, more data has improved these models. I don't know where that ultimately gets to, but I do think a hundred billion, there are not a lot of companies out there that can spend a hundred billion. What I do believe is you don't need 10 foundation models out there.

I think you need certainly more than one just for the sake of humanity. China will have one. I think the Western world will have at least one. So maybe there's three to five foundation models in the world. It's not going to be 10. It's not going to be 20. And so I do think the...

I think you need certainly more than one just for the sake of humanity. China will have one. I think the Western world will have at least one. So maybe there's three to five foundation models in the world. It's not going to be 10. It's not going to be 20. And so I do think the...

I think you need certainly more than one just for the sake of humanity. China will have one. I think the Western world will have at least one. So maybe there's three to five foundation models in the world. It's not going to be 10. It's not going to be 20. And so I do think the...

pool of spend is going to shrink in terms of the number of companies, but the amount that each individual company is going to spend is also going to go up. There is real overinvestment risk, I think.