Anthony Pompliano: This man boiled down that entire company to two words, colonize Mars. That's like if you were high in college talking to your friends, like, yo, imagine if we colonize Mars, right? But he figured out how do you actually do this? And then he say, how are you going to do it? He basically boiled it down to two words, reusable rockets. So when I say smart, dumb person, what I really mean is somebody so intelligent, they're able to simplify everything. And if you think over the last, let's say, 15, 20 years coming out of the global financial crisis, the only thing you had to know is they're never going to stop printing money. If you knew that one thing, you basically never stopped investing into assets. And as long as you didn't blow yourself up, you made a ton of money. Gold's up, Bitcoin's up, stocks are up, etc. And so that one thing ultimately was an abundance of capital is going to lead to an abundance of returns. What's fascinating right now to me is at the same time, we now have an abundance of intelligence via the AI trade that is coming into the market. And so now we have an abundance of capital in the printing of money married with an abundance of intelligence. If you go back throughout history, any time that you had a lot of capital and a lot of innovation, what happened? There was an economic explosion. And whether it was the Industrial Revolution or further back, basically those were the two inputs. You needed access to capital and you needed some sort of innovation or intelligence to drive the economic engine. We now have that stuff on steroids. We basically have fake money that's printed at will. And we now have synthetic intelligence that's smarter, sorry to break it to you guys, than all of us in this room. And so if we now have machines that are smarter than us and we have access to unlimited amount of capital, what do you think is going to happen? There's going to be an explosion of productivity. And what is scary, I think, to a lot of folks is when you read the headlines and you get the like doomer, you know, take, they literally cannot wrap their head around that things can be OK. It's like they have a sickness. They have to find something wrong in the world. If they think that everything is going to be good, they get nervous. So they start inventing things. So you hear things like, you know, AI is going to destroy all of humanity. It's going to kill us. Like what? The joke that I keep saying is if AI is so powerful, it's going to kill us all. Why don't you just use it to build a profitable company first? Right? These AI labs aren't even making any money yet. So if it's so good, figure out how to make money first, then worry about killing us all. If you then think about this technology as it permeates throughout society. Every single person in this room, raise your hand if you have some sort of AI agent that does something for you on a day-to-day basis right now. Right? Okay. If I asked that question three years ago, half the room would be like, what's an agent? So just think of the progress in three years. Now, if we come back together three years from now, how many of you are going to have entire teams of agents doing things? Probably most of the room. And so as you see this explosion occurring, what we're literally doing... We are watching all of the noise in the human job market, which by the way, I'm sympathetic to, right? I'm empathetic to the fact that humans want jobs. They want to have purpose. They want to make money. They want to be fried for their families, buy a house, eat food, all that stuff. But we yet do not have the economic data that can account for the combination of humans plus agents. The U.S. economy has had an explosion of job creation over the last 12 months. We just look at the human number. We don't look at what about the agent number. Take Silvia, publicly traded company, we have more agents that work inside the company than humans. That doesn't show up in the job data. But the company is more productive because of the agents. So it goes back to this idea that all of the economists, et cetera, they haven't updated yet their framework of how the economy works, nor what the drivers are. And so I think that my number one take when I talk to investors right now is every single thing you hear that is negative, just walk away. Walk away. Because there is going to do you no good to sit and worry about, you know, I'm going to talk to Jordi later. I think he's here somewhere. Jordi's probably got the best take on interest rates. He's like, they went up 25 basis points. Who cares? Because the stock market didn't care. Right? Then you go and you look at, well, the jobs information, you know, this economic data point, oil, yields, we just rattle them all off. The S&P hit a, excuse my language, but it hit a fucking all-time high yesterday. Right? So when you think about that, you're like, wait a minute, all of the data is telling you it should not be at all-time highs. Why is it at an all-time high? You can't say, oh, the market is stupid. Because it's much more likely that the humans who are saying it shouldn't be at all-time highs, it's not that they're dumb, it's just that they have a different view of the world that no longer is relevant. And so when you kind of zoom out from that, you then say to yourself, okay, hold on a second. If I have access to superhuman intelligence, and there's unlimited access to capital, In the world today, what is going to be important? Every single human is unprepared to manage money going forward. Why? Well, we're entering a world where complexity increases. Because if I was to have this conversation with you guys literally three months ago, you and I said to you, instinct. What? Grokbot. What? None of that was in existence three months ago. How do you continue to rapidly keep up with all of the information, all of the developments, all of the changes to the underwriting of these businesses? All of this is happening at hyper speed. And so now what you have is you basically have a world where humans are going to have to be augmented by technology. Doesn't mean humans get replaced. It doesn't mean that humans should outsource all of their critical thinking. It doesn't even mean that we shouldn't have humans involved in companies or anything like that. But it does mean that you're going to use these tools. To keep up. And so what I feel very passionately about is why I'm spending so much time on Sylvia is I personally believe that the thing that rich people had will eventually be common among everyone. And you can look throughout history and see the democratization of access to things is the trend. So Uber was able to give everyone a private driver and you just go through thing after thing after thing. And that is basically how technology permeates society. Well, recently, Merkur, which some of you may or may not know, is like a data labeling startup. They did a test. They had 12 manager or senior accountants sit down, and those 12 accountants were asked to do a number of tasks. They scored a 37 on the test, and it took them anywhere between, let's call it, 20 to 120 minutes to complete the tasks. Okay? Let's call that the human baseline. They then asked frontier models to do the same exact tasks. The models scored 100 compared to the 37 from the humans. And the models were able to do every single task in under 10 minutes. Does that mean accountants are going away? No. But it does mean that every accountant should be using AI to do those tasks because the models are more accurate and can do it faster. And so you get much more efficiency. You get more productivity. You get more accuracy. And guess what? For the accounting firm, now all of a sudden you're able to have less headcount. You're able to become more profitable. And so if that's true in accounting, it's going to be true for every single one of you. We have not done this, but I do think it would be absolutely hilarious to go and find some financial advisors, tax experts, other people, private bankers, et cetera, and set up Sylvie on a laptop and the human in like a table in Central Park and just pepper them both with questions and see who's more accurate and who's faster.
But it does mean that every accountant should be using AI to do those tasks because the models are more accurate and can do it faster.