Calling Bubbles with Benedict Evans (Part Two)

Bubble Trouble: Laying Out Inconvenient Truths About How Business and Financial Markets Really Work

This week, part two of our continued conversation with Benedict Evans, an analyst with over 175,000 avid readers for his tech blog.

For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.com

You can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/

More on Will Page at: https://pivotaleconomics.com

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In this episode of Bubble Trouble, hosts Richard Kramer and Will Page delve into the intricacies of technology bubbles with special guest Benedict Evans. The discussion revolves around AI advancements, particularly focusing on Apple's recent integrations of AI models, the differentiation between small and large models, and the implications for email summarization and other features. They explore the economic and strategic decisions behind Apple's use of AI, the potential for various large language models (LLMs) to disrupt industries like legal tech, and the broader market dynamics and antitrust considerations. The conversation also touches on the challenges and opportunities presented by these technological advancements, emphasizing the importance of careful analysis and skepticism in the face of rapid innovation.

00:03 Introduction

00:29 Part One

00:29 AI and Apple's New Developments

01:53 Apple's AI Integration and Market Dynamics

04:20 The Evolution of AI Models and Market Impact

12:29 Antitrust and Market Strategies

17:34 Cloud Computing and Business Models

24:49 The Future of Cloud Machine Learning Providers

25:36 Marginal Costs in Consumer Internet Companies

26:16 Generative AI and Cost Efficiency

28:14 Part Two

28:14 Legal Tech and Large Language Models

30:05 Challenges in Selling Software to Law Firms

31:08 Error Rates and AI Hallucinations

34:36 Practical Use Cases for AI in Legal Scenarios

36:27 Evaluating AI's Potential and Limitations

41:05 Recognizing Tech Bubbles and Market Hype

44:59 Concluding Thoughts on AI and Market Trends

47:27 Credits

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