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My First Million
AI Business Ideas: Deepfake Fines, $5 Therapists & AI Tutors
AI Business Ideas: Deepfake Fines, $5 Therapists & AI Tutors

AI Business Ideas: Deepfake Fines, $5 Therapists & AI Tutors

My First MillionGo to Podcast Page

My First Million, Shaan Puri
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20 Clips
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Oct 12, 2023
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Episode Summary
Episode Transcript
0:00
All right, I'm setting my timer. I'm going to get myself. 31 minutes to give you ten specific AI business ideas.
0:08
I feel like I can rule the world. I know, I could be what I want to be like,
0:14
all days. Oh, you don't do this, because I see a lot of stuff on YouTube. That's like, hey, a eyes, the next big thing. And then they're like, you're like, okay, what how, for me, what should I do with it? And there's no answers or I was going to kill us all.
0:30
Holy shit. How like we don't know. So I just don't like the the just general enthusiasm without the specifics. And so this is all about the specifics and I think I'm well qualified to do this because I've my whole life. I've been an entrepreneur and I've been an idea guy, ran an idea lab where I was basically funded to just come up with business ideas and then build them for six years. I've been have a podcast. Now, this podcast is all about business ideas. I've also invested in the last year, maybe two million dollars into a, i
1:00
He survived about a dozen companies. I said yes to plus probably another hundred or so that we passed on. So, I've seen a bunch in this AI space. I know what the best entrepreneurs in Silicon Valley are doing, that's why I live. And so I wanted to share with you my list from number 10 to number one. Number one, being the best, the biggest opportunity that I see in the, in the space that if I wasn't just chilling out rich and happy and being a dad, I would go and jump in and do these right away. Instead, I'm gonna invest on the side, I hope somebody takes an idea from this list and just goes and does it.
1:29
Let's take a quick break to ask this question. What if you could find track and close, all your deals in one place. What if your schedule your goals, your to-do list, your emails were all organized in one tab instead of dozens of tabs. What if connecting with customers, didn't leave you with so many. What ifs? What if I stop talking about what ifs? And I just told you about HubSpot sales up, I want you to meet the new powerful easy-to-use software. That's designed to help your sales team Prospect smarter grow Revenue, faster and get deeper customer insights all-in-one connected platform with HubSpot sales Hub. Your data, tools and team are fully linked on a highly customizable platform. That is
2:00
Joy to use. It's smart software for smart sales. Teams who want to close the year. Strong visit HubSpot.com sales to learn more. All right, let's get back to the pod.
2:11
But before I tell you, the ideas, a quick little history lesson. I quick little trip down memory lane a little I Told You So three years ago on this exact podcast I did an episode called is GPT the next big thing. I think it was an episode 94, run like 500 now and this was back in July of 2020. So it's like covet had just hit people are freaking out but me and Sam got on set podcast we sent his GP T 3. The next big thing we had gotten access to this tool.
2:40
That there was no chat, you beauty of the time, you had to like get a favor from somebody to even be able to try it. And we used it to write rap lyrics, which of course being idiots that we are we thought oh that's the best thing we can do with artificial intelligence. And so we we thought was amazing. We were like, wow, this is really good and we the episode is gp2 next big thing. We're basically saying, yeah, it will be that's 2020 fast forward today. Open my eyes worth ninety billion dollars. They're doing a billion dollars, a year chat. GPT is the fastest growing?
3:09
In product in history to hit 100 million users, you know? So I'm not saying that we called it. I'm not saying that we're business Geniuses kind of did, and we kind of are so, you know, if you listen to me then you probably could have made a bunch of money. Listen to me now because I got for today I'm going to share with you. 10 specific, AI business ideas ranging from simple doable. Things for somebody who's non-technical
3:37
All the way to like moonshot, really big ideas that I think are game changing. And so I'm going to read you the list from number 10 to number one, they include things from about, you know, Robotics and therapy and celebrities and education to porn to a, I got everything in the last one. The very last one. I think is the biggest idea that exists today. So the biggest I think it is the biggest opportunities that exist today for any entrepreneur.
4:07
You know, like when you think about Mark Zuckerberg, stumbling into sort of like the social networking craze or you know wind Steve Jobs created the iPhone that changed everything. There are these sort of change everything moments and like you know I was a kid when the internet came out. I'm 35 years old now so I was, you know, I remember being on the internet as like 12 or 13 year old using like you know, whatever very basic dial-up connections and BBs forums and stuff like that. But it was clear to me that the
4:37
was a thing. It's just I was a kid. So I didn't think about how I could Bend like I just wanted to use it. I didn't think about. I wasn't an entrepreneur. I was a teenager. I couldn't even spell on her, still can't. But then when I graduated from college, I graduated 2010. The iPhone had come out the year before I think the App Store to come out, but I wasn't, I didn't have the light bulb on. I didn't really understand that there are few times. I think what's that Warren? Buffett quote. He's like something like there are moments.
5:07
There are moments every once in a while, where their eyes get cloudy and it begins to rain opportunity and when it does let us not run out with spoons but with bathtubs to to, you know, to catch the opportunity. So I didn't really realize when mobile was the big opportunity and it was right in front of my nose, right? Like we were working on things that we had a mobile developer one guy and we would you know, we would we would try to make a mobile version of our website, but we didn't realize, you know, mobile changing everything. And all of a sudden, you know, this thing.
5:37
He's got a GPS that means that lubar is possible Google Maps as possible. This has a camera so that means that Snapchat and Instagram is are now possible. You know, I'm carrying this with me everywhere. So all of a sudden WhatsApp is possible, you know, this thing has an accelerometer inside, that means that my fitness pal is possible, right? So the technology unlocks the opportunity. So now to my specific list of ten ideas that I think anybody could do and by the way, here's my disclaimer.
6:06
Be specific ideas, don't matter. I do I'm hyping him up a little bit but it's not the ideas that matter. Nepal has this great quote where he says, you know, you don't read books for the information, you read books, because books spark ideas in your head, right? Reading a great book is like, you know, lighting a match or starting a bonfire in your brain. And so that's my goal. I want to start a little bonfire in your brain. I want these ideas to help you get to the real ideas. I don't think that these are necessarily going to be the ones, but I hope that they really
6:36
You have to think. Okay, so let's jump in. Number 10, it eliminate the wait. Okay, so we think of the internet as this fast place a place where you can just click and you instantly get what you want. But that's true. Like the internet. If you just compare normal business, I used to have to drive, go to my car, drive to a store Park, get out walk in if I wanted to buy something and now the internet I don't do any of that shit. I just website Click Boom it'll be here in two days, right? That's kind of amazing. So the internet has killed
7:06
Rating in a bunch of different ways and that's generated billions and billions and billions of dollars of value, but all waiting is not gone. There's still some waiting left. I want to tell you about it. So like, for example, this is one of my companies is called Shepherd, right? I'm a minority owner of a Shepherd. I bought a minority stake earlier this year. They do a very simple thing, so they find you employees overseas, that will cost you 80% less than. If you're hiring in the u.s., they're like recruiters. I will find the best talent in the Philippines or latam that just solves what?
7:36
You have. Okay great. So now when somebody comes to this website, this business works right? It makes millions of dollars a year but it also loses I believe millions of dollars a year because of one very simple problem which is that when you click start hiring here it's going to tell you to book a call it says great tell us some information and then when you do it, when once you fill this in you know you fill in a small form as soon as you do that then it's going to tell you to book a call and that book of calls might be two days from now three days, not four days from now by then.
8:06
Then your cooled off, right? Like you know you've lost anybody, any sales person knows that like you need to strike while the Iron's hot. You're going to the highest conversion rate in that moment. So let me show you what an AI company is doing that. I think is very smart. This is called some people same day. I'm not involved in this at all. I just think they're it's a very cool idea. So they're like, hey what if we just had a phone agent and a iPhone agent that can just reply to anybody who calls you right away. So listen to this
8:34
How can I help you today? Yeah, I got a call from my wife a minute ago. She said there's a bunch of ants coming through our kitchen window. How soon can you guys come out?
8:42
That's the worst. Luckily I can probably have someone out as soon as tomorrow to take care of those ants. Can I get your address to confirm? Yes.
8:52
But can you transfer you a person? Yeah I can transfer you to a person but you'll be on hold for about nine minutes. Now I can answer any questions and get you scheduled in under two. How does that sound? Aaron sounds good. But what's it going to cost?
9:08
Oh, of course, I just need to know how you get the idea. I think it's funny. They made him have a accent but, you know, he instead of I'm interested and then three-day Gap. Now we get on a zoom call and you're trying to remember the contacts and then we fumble in bubble. How about right when I say I'm interested in AI sales, agent is going to call me and you know, or create a voice called right here on the browser and ask the questions that needs to do to qualify me as a potential customer as well as answer. The
9:38
Is that you have and even give you a sales pitch, right? You might look at that and be like, oh, you know, that it's a little slow, the way it talks or, it's not as good as a human. And I would tell you two things, number one, that the conversion rate in the moment, the versus the drop-off of people not not be a bouncing because they don't want to book a call or not showing up to the call, like the show up, right? Might be 65 percent to a call, you know, you get these huge drop offs for every step of every additional step in the funnel. So you will just remove steps in any funnel.
10:08
So I believe that AI sales agent will be higher converting van doing it, the sort of slower human way and the second thing is this is V1. Imagine, you know, like if you remember the V1 of anything of the brick cell phones or the view even V1 of the iPhone compared to what we have now and iPhone 15. Like just wait two years. This is going to be incredible and it's already good enough to make up for the fact that you do. You know how many businesses don't even have a phone number or don't answer the phone when you call them.
10:38
Every Pest Control service or lawn care, service, or self storage facility or whatever you name it, you can go and become the a iPhone sales guy for every business on the internet. I think that's that's one opportunity that's there for the taking is forget this whole idea of you know call me I'll call you back or book a call in a few days and we'll talk it's no no it's going to be will talk right now with my highly trained sales agent who always sticks to the script is always polite, never gets frustrated and ever.
11:08
Gets pissed sick, never takes a day off. That's what's going to happen here. That's where this is going. Okay, idea, number nine therapy for everybody. So therapy used to be pretty taboo and every year, it's becoming less and less. So, every year, more and more people are going to therapy and there are multiple billion dollar therapy startups. That just connect you with a therapist. However, that's still only a fraction of the opportunity. How do you make this a hundred times more accessible, right? Like that.
11:38
Most people could probably benefit from having somebody to talk to having somebody who's there for them. Supportive. Ask good questions gives good advice. That seems like something that's gonna help every couple. Every individual person, every executive Etc. And the biggest barrier to this is now is cost and sort of like the friction or privacy that's involved. It's almost like remember how hymns came out and they were like, you know what, erectile dysfunction is a big deal, it's a big problem, but people don't want to go
12:08
Dr. Admit this to another person and then have to go to a pharmacy and say, hey can I get my pills please instead? What if it was you just telemedicine, you can just get diagnosed online. Get their prescription will really quickly from the comfort of your own home without going anywhere. And then we'll deliver to your door step and very discreet packaging. And there you go, and hymns and Road did this and billion dollar companies, just on that one, that one way of increasing access, well I think for therapy. You got to do to I think, you know, decrease the cost and increase the Privacy. So solution, put an AI that
12:38
Purpose in everyone's pocket, you train it on 100 million hours of therapy, you know, transcripts and and conversations that that exists what could exist. And if you provide the service to everybody even people who can't afford $100 an hour therapist or 200 dollar a now, our therapist you drop the cost of that by 100 x. So, how do I get this for $10 a month or five dollars a month? That's the, that's the big opportunity, and how do I in doing? So, you would 100x the number of people that
13:08
Get this benefit right to win, win. And, you know, I don't know the exact specifics, like, you know, you may need. It's gonna take some time to train this to be good. There may be some things like, you know, the difference between creating drugs or a supplement like you have to get if you do like either clinical trials and get FDA approval or you just create a vitamin and you can like sell that online tomorrow. You know. It might have to be framed less medically and more like a life coach. I'm not sure but the idea of providing therapy for everybody is a big idea number
13:38
Berate robots, that automate warehousing. So I from our e-commerce business was running a warehouse where I don't know a year or year and a half. We had thought about 10,000 or 15,000 square foot facility here in California and we had 10, 20 people there absolute pain in the ass, The Firm ready? Nobody liked it. They didn't like working there, we didn't like having people there, we didn't like running the thing. It was slow, it was expensive. It was bad in like pretty much every single way. And then you look at Amazon and Amazon has invested billions of dollars. I've read anything from 10 billion dollars all the way up.
14:08
100 as an estimate of how much they've invested in R&D around their warehouse. Automation, back in the mid-2000s, I bought a company for almost a billion dollars, Kiva think Kiva systems. And those are those little sleds, you can see these insane videos online the sled basically, like, goes into the warehouse finds the set of boxes, that somebody ordered something from picks it up, drives back. And these are all like there's hundreds of these going at once and they're all like part of one big brain. So they know how to never bump into each other and so they then
14:38
they drive all the way up to a human, who's sitting in a chair who just pulls the item out of the box, puts it in the package. And that's, you know, what the Amazon product is. And this is a perfect example of my export framework. So my export business, a framework is basically a way to generate business ideas, which is you look at any big company and you see what did they spend? Millions of dollars building a Homebrew solution for something that works for them and made their life better and it can you export that idea as a product that any company could use without having to spend the money on the R&D?
15:08
Tons of examples of this simple. One launch, Darkly billion-dollar company. Now, they were working at Facebook, Facebook had a feature that they had built in turn a product. They had built internally, spent a bunch of engineering resources building, which was a way to launch new features. Under feature Flags, meaning you launched a feature. It's in the app, but you can turn it on for 5 percent of the population. If it's bug free, then you can turn it on for 25 percent of the population. Or if it starts have a bug, you can turn it off. Quickly, remotely from your
15:38
Server. So, idea feature Flags, they productized, it took it out there and said, hey the thing that Facebook uses for their app, you should use in your app and of course it works. So I think somebody's going to do that here with Amazon's Warehouse technology. I'll just give you a crazy stat. Just this, that is the business plan for this business, right? I talked about this idea of one chart businesses one stat businesses, it's a single stat that basically encapsulates the entire opportunity, which is that today 2% of all warehouses use robotics, right? So
16:08
Percent of all fulfillment warehouses are using robots today. That numbers go in very close to 100%. So, just the shift from, what's going to take it from 2 percent to 100 percent, you could just sit down and brainstorm, what does that going to take? Is it you robotics? Technology? Is it better sales? You know, better sales and development process, is IT consulting practice what are the different ways? You could take that. I'm from to to 100. I think that's just one big opportunity. Alright. Number 7 similar to what I just said Consulting Mackenzie for AI.
16:38
So Technologies come but they don't it's not evenly distribute hasn't just get everywhere all at once right. There still like on a 4 million people with dial-up internet using AOL we got online right now in the United States. And so it takes time for these Technologies to sort of propagate, through the, through the community Through the population. And so a, i AI does all this amazing stuff, it can help businesses become more, efficient, more smart more, intelligent serve, their customers better, but it's not just gonna like appear overnight in every company at all. No way. And so,
17:08
I think somebody can build a killer combo of conferences, content and Consulting. The three C's package those together and build some. So, here's what I would do if I'm working at McKinsey, right? I'm one of these, you know, Fancy Pants, smart people who works at gets a job at McKinsey and you have two choices. You're either going to grind the McKinsey ladder for like the next. I don't know five to 10 years with the end goal of maybe becoming a Parker someday and making a million bucks a year.
17:37
Or door number two, quit your job tomorrow and launched a, i specific Consulting practice that is going to identify one type of customer. Maybe it's a mid-market industrial companies or its lawyer law firms, or dental practices or whatever, and identify a i Market fit. So identify one AI tool or process that would help one type of customer and start their start Consulting. There you can build a multi-million dollars.
18:06
This business from there and stack more and more. I basically the same 10 years instead of just grinding it out at McKinsey. Just spent five years doing this on a i building the AI consulting company and sell it back to McKinsey for a hundred or thousand extra pay out, you know, you I believe that there's going to be a billion dollar Consulting companies that are specifically just about AI, that the big Consulting companies deloix PWC, Mackenzie Etc. They're going to need to buy. They're going to acquire practices that the do this and
18:36
So I think if you have the chops to do it conferences, content and Consulting. I think a combo of those three would work and specifically around conferences. What I don't mean is what I think everybody wants to do is create the AI conference and if that's cool somebody's going to do that. But that's also very crowded instead. I think the easier opportunity is to create the a i4x conference so AI for healthcare compromise. Hey, Healthcare, you work, you have a Healthcare company. We have a conference that specifically,
19:06
About marrying, the best AI companies and startups and experts to healthcare companies like you. And seeing, how you guys are going to be using AI in the next three years, in order to build a better company. And I think you could do that with every every Niche, every industry, every industry could have this. So you could do this in healthcare, you could do this in whatever you can do this in farming, you can do this in any any industry, any vertical industry, you could you could create conferences around that. So I think that's
19:37
Separately. Just a good idea. All right, next one Cameo. Okay, so Cameo was this app that got really popular because it lets you buy shoutouts and greetings from celebrities great. But if we just step back for a second, like, influencers, and celebrities make money off their name, their face, their voice, all that,
19:58
Today, if they want to do that, they have to cut these deals with companies. They have to agree. Hey, you're gonna have to fly out to Tucson and we're going to film this commercial and you're going to be here on settled a that if to read these lines, and it's a pain in the ass and that's why you have to charge money for it. Well, now that AI is here, we have something called Deep fake technology, which basically means you can make a fake video of anyone's face. You've probably seen the, the Deep fake Tom Cruise or you've seen.
20:28
Deep fake music video. That's that was made. Where the guys shape face was shifting from One Celebrity to the next Indiana, Jones? I think use deep fake Tech to have like the young Indiana, overstate the old Harrison Ford's. There's a Ford, Indiana Jones defects are getting really, really good. And so, this is an opportunity. Now, here is the prop. Here's where everyone gets it wrong. People think entrepreneurs, think I talked a lot of startups that do this. They're pitching me for investment in there. Like, we're going to make this defect Tech. It's gonna be great.
20:57
Wait, it's not a tech problem, really right now, it's actually a rights problem. So what somebody needs to do, the move here is not to go all in on product, but to go all in the biz Dev which is a total narrative violation. Nobody says, hey go all in on business, but that's what you need to do for this business. What you got to do, is create some sort of digital likeness license. You need to go to athletes and celebrities every CAA represents and WME, you gotta go to the man, you gotta get partner with them. And basically say, hey, I'd like to sign up to be your
21:28
It's provider rights holder, and provider and license licensing technology for you. So that any time, a brand comes and wants to use your name and face and voice they can do so and you can get paid for it. They can have the official training data for you. They can have your signature in your rights that saying you're allowed to use my face and my voice to do this. And then after you have the rights once you land, this is Beautiful by the way. Because we all know in businesses, the value of a business is in the defense ability and the
21:57
Civility. Here is not the technology, it's the right to ownership, so if you can go lock up the rights, there's a land. Grab right now. If you can go lock up the rights to the right names and faces and voices, and you own that right? You either license it from them and then you sublicense it out, or you create the product that they use to manage their rights and licenses, you have a moat because there's people only want, celebrities celebrities to do this. And so, whoever gets him first wins. And after that, you can either by
22:28
Partner with technology, do whatever you want to actually deliver this deep fake stuff. And so, you know, in the future when LeBron James doesn't McDonald's commercial, he's not going to have to go fly to Georgia and film that commercial. They're just gonna set, put an API request, pay the money, get the license to his face, his voice is whatever, then they're gonna be able to script it and he's gonna be able to sign off for approval. That's it. Like that's how the whole process is going to go. He's gonna make more money with less time. That's where that's going. So, I did a five is
22:57
Is the opposite of that, the anti Cameo. So I was on Tick-Tock yesterday and I saw this video of mr. Beast giving away iPhones. Now, your boys, not a dummy. So I know he's not actually doing that. This was a deep fake, but a lot of people didn't know that they're clicking on it. And in fact, mr. B's tweeted this. I was like, Hey, a lot of people are seeing this and this is effed up. How can I get rid of this? Like, how do I stop this? This is terrible. You're using my face in ways that I definitely don't want. Similarly, I saw, you know, Taylor
23:27
Is all the rage right now because she's dating Travis Kelce, somebody used mid-journey or one of the AI image tools to make photos of Taylor Swift like smoking weed or whatever like they put her in a bunch of compromising situations that you wouldn't want to be in. She doesn't want to be that's bad for her brand, but now it's easy for anybody to just deep fake that. And so you need an anti Cameo. So the so protection, so the takedown and protection and detection. And
23:57
Tutoring service for all these celebrities to say, hey, we are scouring the web to make. Sure your face is not showing up in defect porn or in ads that you're not actually endorsing and things like that. That's going to become a no-brainer business. It's a consequence of how good this technology is and by the way, for all my crypto haters out there, there's a great block changes case. There's a company doing this that basically what they do is they say yeah we're going to basically let you create every everyone who
24:27
A celebrity or whatever anybody any company, you have a private key. And so anytime there's media out there, you can sign the sign, the media with your private keys. That only you who controlled to say yes this is real. I actually said this, I actually vouch for this, I actually created this. I actually endorse this and what's going to happen is that in the future media that doesn't have that's digital signature is going to be seen as untrustworthy. And so what they did with the blonde changes, very smart with say let anybody create
24:57
Their keys, their digital signature so that they can sign off on these and have it in coded that. Yes, I indeed did say this, do say this I endorse this. I allowed this. So that's going to be a big deal. All right, number for AI tutors. So education is obviously a big space. How amazing would it be if everybody had their own AI tutor? So everybody had a patient infinitely intelligent tutor, who's going to let them just
25:27
Take a picture of the problem that you're trying to solve, you can ask me to explain it. You can ask me for a more examples, you can ask me to go slower, you can ask me to go faster, you can quit the tutor can quiz you after they've explained it to you once. To make sure that you understand the concept, the tutor can draw diagrams. The tutor can animate diagrams faster than any human tutor, could better than anyone could on a chalkboard and ultimately they can keep track of what you have Mastery on and where you need work. And it can kind of customize a curriculum that fits you very
25:57
Versus just you going by the book of whatever, whatever the herd is trying to learn right now. And so I think an amazing thing that's going to happen is that we're going to get these AI tutors that are really going to help, you know, help teach you and I think this is one of the big use cases of chat GPT today is like sort of like homework shortcuts but I think part of the shortcuts are going to be not just do it for you but explain it. Explain it to me if I want to learn, right? And so you're not gonna be able to force people to learn, but for the people who do want to learn, I think an AI tutor is going to be a kind of a game changer.
26:27
I know for me, I used to love watching Khan Academy videos. Anytime I had a question because Sal Khan is just an amazing teacher, he could teach millions of people because he's patient. He's clear, he has a very good little drawing set up. This is what's going to happen with AI. We're going to have Sal Khan's for all of us. Some that are funny. Some that are good at math. So I'm going to go to really slow explanation. Some of that are very Advanced and very keep you on your toes. You're going to have different AI tutors to choose from. Okay, number three, call center
26:57
our accent changes. This is a fun one. So a lot of customer service help as we know is offshore, it's cheaper. That's why businesses through it. However, there's one big cost that people get in Rage When you call, you know, you're calling Del for help. And, you know, all of a sudden you're getting our June in India who says, hey, it's Arjun from Dell and he's got the accent and he doesn't quite understand what you're saying. The connection isn't great, blah blah, blah blah. Well there's companies right now that are doing AI accent removal. So what they're doing is they
27:28
The guy origins in India but when he talks, he sounds like Adam and, you know, California because on-the-fly they're able to adjust using AI his voice so that he doesn't have the accent. And so think about if your company, would you not pay an extra, whatever 5% 10% to be able to remove accents from all of your? Your customer support people. So that, you know, you have higher NPS, higher higher customer service scores and
27:57
Less less issues, and complaints. Of course, of course you will. And so now you multiply, that across a very big industry of customer support and that's the, that's one really specific way that you take this technology technology, unlock of, you know, being able to imitate anyone's voice and you apply it in a business context. So, number two,
28:20
I had to do it, I had to do it. You know me, I'm the guys will tell you that only fans is going to be a big as business for four years. Now,
28:29
ai porn aka the Fantasy Factory. So porn is one of the biggest markets in the world. Historically porn has been an early adopter of new technology. So video streaming, you know, early on was used for porn online. Payments are early on was used for porn and so porn has been an early adopter of many new technologies. And I think there's a big benefit for AI porn. So first, I think on the consumer side, you're going to have on the demand side, you have infinite personalization to your taste like, have you ever gone to a porn site and see
28:58
Many categories. There are, there's like a trillion categories, why? Because there's a trillion fantasies that people have that they're looking for. And you know what whatever? However number categories they have, there's probably actually room for 100 times more, right? Because that's just what they're able to service. That's not actually the limitations of what people want, or what they're interested in. And so infinite personalization is the first thing. So, what exactly is your thing? We can provide that to you. That's going to beat out somebody else. Who just says, here's what I have. Do you like
29:28
Like it, right? So it's like the difference between, you know, going to Blockbuster back in the day and seeing 25 movies on the Shelf versus Netflix or Amazon, which have an infinite shelf, it's a difference between, you know, watching, you know, one episode of America's Funniest Home Videos versus opening up Tick Tock, anytime you want, swiping, getting personalized, entertainment, bite-sized, entertainment for you, in an infinite, for an infinite scroll, like, it's one is a lot more powerful. And, and, and, and
29:59
Will satisfy demand much better. Okay? Then the supply side AI porn I believe is more ethical. So, you know, just like the way we have plant-based proteins, and cruelty free makeup, and vegan leather know, humans are going to be harmed in the production of this video, right? Like, I think that the idea that we could satisfy the demand for porn without subjecting people to the lifestyle, being a porn. Professional, is that what they call them support from porn? I like a little comes up, or a
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Special porn, stars like that. I'm a business star. Not an entrepreneur. Yes, I think that's going to happen. And I think for the companies you dropped her cogs down, right? So like, you don't have to worry about all the takedown notices and copyright issues and lawsuits that you're going to that you have from from people uploading stolen works or having to share Revenue with all the production companies. It's just going to drop down to whatever the cost is of the GPU to create the thing, right? That's good. That's what I
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A drop down to and so I believe you know if you ever go want to go down a rabbit hole, go look up the company mind geek and Canada they own all the porn sites. That's a you know a multi multi-billion dollar conglomerate just ships, spitting off, tons, and tons of cash. Somebody's going to do somebody's going to go after that market with AI and I think they will win. Because again, way more powerful tool to satisfy demand way lower cause and more ethical Supply, that's a winning formula more.
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FM in just a minute first, let me tell you about one of the joys in my life and that is a virtual assistant, you know, here's the scenario. I'm running my company's, I spend 30% of my time just doing random bullshit. The stuff that has to get done but it's not creativity. Doesn't require me and it doesn't add a bunch of value to the business. It's just stuff it. So that stuff is what a virtual assistant does. So having a virtual assistant is a no-brainer. Whether it's travel booking, email inbox or just knocking, stuff off your personal to-do list that would have just lingered there forever. I think it's a no-brainer. If you're a business owner, you should
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I think one of the best ways to find assistant is Shepherd. So go to support shepard.com super affordable. It's something that you know you don't need to have the biggest business ever. Be the biggest big shot in order to afford it so it's amazing. Go to sports shepard.com, check them out and tell them I sent you. They'll take good care if you do that. So sports ever.com, check it out. All right, let's get back to the pot. All right, now we're here number one. This is the, this is the winner of my list. Okay. This is the number one biggest opportunity and I hate to be that guy. That's like, this is the biggest opportunity of our lifetimes, right? Like
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Timeshare guy all the time. Sure guys who are now YouTubers just selling. The biggest, the biggest next big thing. But in this case, I think it's actually warranted. I mean, a yeah, is a big freaking deal, right? Like, you gotta be nuts to be denying it out at this point. And within a, i this is what I genuinely believe is the biggest opportunity. So, let me just rewind for a second. If you think about the previous waves, I count four waves in my lifetime of giant sort of inflections or opportunities. The
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Sort of like the big gold rush moments, the huge tidal waves that you could go surf as an entrepreneur. So, the first one was early internet, right? And now you have what they used to call the information superhighway. You remember that door key phrase but it was right. Information was the thing, the ability to find anything and there's really two big Winners. So Google and Amazon, where the two biggest winners of the information, find anything Paradigm. And what you could do is, you know, Google, let you go find any information and Amazon, let you go find any.
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Stuff. And those two created a trillion dollars or more than a trillion, almost two trillion dollars of value, just on those two companies alone out of the information way. Second wave you then got was communication, so started with email, but then quickly became all social, networking, social media, so Facebook LinkedIn, Twitter Snapchat, Pinterest WhatsApp, YouTube, all of that, right? So the ability for people to communicate with each other, and this even extended, by the way, to like Riders connected to communicating with drivers, right?
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Uber, basically, the ability to say, I need a ride and somebody else say I have ride for you, right? That connecting the dots Pete human coordination and communication was the big second wave. And again a trillion dollars plus of market value, created out of that communication wave that came. Okay, then what's coming next and then you have the value wave and this was now we're talking early 2010's up to like base of the last decade 2010 to 2020 and this is crypto so Bitcoin, a theorem just those two alone or trillion dollars.
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A value that got created, right? The best investment, you could make sense that the year, I graduated 2010 would have been into Bitcoin and etherium, those are that is the best asset that was created of us highest performer. And again so we had digital information, then we had digital communication, then we had digital value and so you know the Builder did have a digital money and to digital value and so now what's the next one? The what's number four right coming into the 2020s?
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One for 2020. 2030, what's gonna be the next one? I believe it's digital intelligence, so that's aii. Okay. So who's going to be the Bitcoin? Who's going to be the Google who's gonna be the Facebook of the intelligence way? Well, so far we've seen, you know, Nvidia make chips. They've done extremely well. We've seen open a I become almost a hundred billion dollar Company by training. These models that you can use for AI applications and I think those are great, but I think there's gonna be more. And the one that I think is missing
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Is.
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You know, I had to kind of that I was thinking about the first one was self-driving cars, because I'm like, okay, that's a, you know, driving is a huge part of human life. And when that goes self-driving, you're going to have safer, more efficient, more comfortable, more entertainment. You can have a better ride experience and that's going to, obviously change the way that cars work, right? Good cars are parked 90% of the time, but when their self driving, you're going to park your car and you're going to say go make me money car. And the car is going to go drive around and be an Uber for people picking people up rides. So just a game.
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In terms of how this works, we're going to need less cars, which means we need less parking, which means we need different roads and City structures. There's a whole bunch of things that can change, but as I was thinking about that, I thought about a bigger opportunity, the bigger opportunity is actually related so I was like oh man self-driving cars are going to be great because you just get in the car and you just say your destination and then the car is going to figure out all the things to do to get you to your goal. So I just say I'm trying to, hey, take me to Starbucks, it's going to say great, look up the nearest Starbucks,
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find the address input, the address to navigation, turn the car on shift, gears from Park to drive accelerate, stop at the stop sign signal, turn shift Lanes, exit the highway, whatever, right? All of the middle steps is going to create a list, it's going to do them. What I realized was that's not going to stop at just cars. That the biggest opportunity is the self doing to-do list. Just like we have the self-driving car and what's a self doing to-do list itself. Doing to-do list is going to be well, all of our productivity today.
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Comes from basically the following the following system person thinks about what they want gold. Then they create a list of actions that they think we'll move them in the direction of that goal. And then they do those actions and the extent to which you hit your goals is based on your ability to like know what you want. Create the list of things you need to do to get there and then actually do the list. Well, I think what AI is going to do is actually change how that works. It's actually going to let you just say what you want. A I will then generate
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great the list and then it'll just do it. And so we've seen this by the way so that what this is called is it right now. They're calling this the agents and agents might end up being the information superhighway like a word. You know, that gets phased out over time. But here's the simple model we've all use chat GPT where you type something in and it gives you an answer and the better question you ask the better answer, it'll give you or the you have to know what to prompt it to do it. If you don't do anything, is just going to sit there. It's going to do absolutely nothing for you. Whereas there's a new model
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Call AI agent, what AI agents are based on is that you don't need to tell it. You don't need to ask it specific questions or give it Specific Instructions for a task. All you need to do is tell the AI what you want as your goal and what you want. As your goal is, let's just take an example. Hey I run a e-commerce business and I want to reduce my inventory waste. Okay, so I'm going to reduce my able to make my inventory more efficient.
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So the AI could then generate a list of things to do, analyze the inventory to find the highest fast, movers and slow movers and then it will take the slow movers and it will put them on sale. It will take the fast movers and it will analyze. You know what, you're lacking, you know, where there's more demand than you have Supply in stock. It'll create a purchase order. Send the purchase order to the factory and get the next order delivered for you. So you could see in theory, how you'd be able to just say a goal.
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Have the a I create a list and then do it another. You know, Silly example, let's say I wanted to lose 15 pounds. Well we all know to lose 15 pounds. What you need to do is you need to you know, burn more calories than you're going to consume well in theory. A is going to be able to help you do that. So you're going to say I want to lose weight and it's going to say great, we are going to take your current weight. We're going to then create a calorie meal plan of how many calories you supposed to intake per day, and how many you're supposed to burn per day, which going to create a workout plan for you. It's going to create a
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Meal plan for you, it's going to then take the meal plan. It's going to create break that down into recipes, break the recipes down into ingredients. It's going to go onto Instagram. It's going to order the ingredients to your house for you. And you know, there you got right? That's going to take you as far as it can. As I going to do every single thing in the real world until you have a robot, sitting in your house, that's going to then take those groceries and going to prepare the meal for you, right? Like Jetson style and we're talking about in the future but like
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This is the future. Like I mean, dude, I used to have this, I'm holding up my phone, like my cell phone right now that I can use to run my business to entertain myself and Leslie, four hours to play video games to navigate to all around the world. Like, I can pay for things on this. I don't need my wallet. It's insane, right? This thing this thing is insane to 12 year old me and 12 year old me is not that long ago. I was 20 years ago or whatever. It's like 12 year old meat would be mind-blowing because twelve-year-old me had just gotten their first computer in their home.
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House. We used to have a computer room. It was like that room in our house called the computer room. And whoever wanted use a computer had to go to the computer room. And when you're in the computer room, then we got the internet through a CD from AOL and then when we had that you used to have to pick and choose, do you want to be able to receive phone calls as a house? Or do you want to be on the internet? Because if somebody picked up the phone, when you're on the internet, you would like disconnect from the internet and they would hear crazy internet. Sounds like you. It was insane. Like, you know, the way that we were when I then when I start on the
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That to what now holding my iPhone 15 Promax with, you know, wireless internet while I'm driving or on an airplane is mind-blowing. It's all I'm asking you to do is just sort of think 20 years in the future. The idea that we're going to have, you know, our Jetsons robot in our house and we're going to be able to tell our to-do list, just what our wishes and dreams are and then it's going to create the list and do them. That's the big idea. That is the big idea that is the idea that it's mind-blowing. That's also the idea that scares people by the way, because you
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No, the thought experiment is someone says, Hey I want to maximize, you know, what's the paperclip example? Want to maximize the production of paper clips or sales for my paper clips and it's like, okay great, the a I got your goal and it doesn't care. What comes in the way, right? It's going to start shredding cars to create scrap metal to produce more paper clips, right? It will, it will do anything to hit that goal. And so, that's the scary part about Ai. And now I'm not the guy to do the AI safety conversation and the AI ethics conversation. That's not me.
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I'm an idea guy. I'm thinking about how technology can do really cool things. I will improve people's lives and of course, as we do, then we're going to need to put in guy you know guardrails and guidelines and be able to not you know, Crush all of civilization in the process. But that's kind of a Debbie Downer. I'm not really looking to get into that conversation. What I'm excited about is a future where work gets done for you. That's what's going to come from the intelligence wave. That's different than the value. A of the communication, waiver the information way. The intelligence wave is
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Do intelligent things. It's going to use this brain for you, right? It has got this right side of the AI, brain that can do creative shit, it can draw, it can write, it, can sing, it can make songs, it can wrap it, can do anything. And then on the left side it's got this like informational analytical, brain that can you dump in a PDF and it will summarize it for you in this second it'll generate a p&l for your business. It'll give you advice strategic advice on your taxes right like it can do all these things that are highly less I left brain and so now we have this AI intelligence brain and the eye
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Ideas that I came up with or just my first pass at. What's going to come from this? I want to hear what you're going to do. I mean, I'm investing in this space if you're doing something cool, reach out to me, Sean and Sean poor e.com, I want to hear what your ideas are. I don't hear what you think about these go in the YouTube comments and let me know because that's it. Those are my ideas from 10 to 1. I hope you liked it. I hope you enjoyed it. I hope I started a little bonfire, your brain. All right, I'm out of here. I
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feel like I can rule the world. I know why I could be what I want to put my all into it. Like
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Let's Travel never looking back.
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