Meta

>> out this morning with the news of they

call it Muse Glimmer. It's a new AI

model, light enough to run at home on

your own computer. You download it. You

can tweak it however you want. Kind of

appealing to the the customer, the you

and I. We also saw Mark Zuckerberg

coming out this morning with this. I

think it was 6,500 word essay arguing

the personal super intelligence for

everybody.

>> 6,500 words. Come on, man. Like are you

what what are we doing here? You know,

like

>> could have been 300.

>> I mean,

>> could have been nothing. Could have been

nothing.

>> Did Glimmer write it? I mean, I I have

to ask anyway. Sorry. Go ahead.

>> No, I'm I'm going to I'm going to get

some angry calls from Metaccoms about

this, no doubt. But but generally, I

[laughter]

Mark Zuckerberg is maybe one of the

greatest businessmen in the world, one

of the greatest CEOs in the world, has

created a huge amount of shareholder

value, which is all I care about. Um,

and so this idea, right, I I did read

the essay. This idea that

suddenly meta is moving altruistically.

This isn't this isn't a new one. We had

this with open internet back in the day.

We've had various sorts of rebrands and

PR pushes.

>> Um, I I don't know. There's there's it's

very hard from with my investing hat on.

I'm I'm very pleased that Meta is trying

to compete aggressively here. And I

think that'll be a real boon for their

shares if they can figure it out and

keep the talent. That's an open

question.

>> But it also unfortunately precages

another question which Demis obviously

Mark Zuckerberg courted him very

aggressively. There's this one anecdote

he has uh about Mark Zuckerberg and I

have not confirmed this. I don't know if

it's true but no reason to lie here,

right? Um where essentially he sat down

to dinner with Mark and Mark said,

"Look, I'm so excited about AI. I think

this and Demos he's saying all the right

things." And then they test him out. He

says, "Well, what do you think about the

metaverse?" And Mark Zuckerber responded

with the same amount of excitement for

for the metaverse, for virtual reality,

for gadgets, for devices. And Deus goes,

"Okay, you just

>> you just get excited about everything.

You don't actually see this as the

transformative transformative tech that

I do." And I think it's always been a

question. Why is Meta playing here? Why

are we spending tens of billions of

dollars poaching these people? It's why

>> Well, this has been the question for

Meta going back how long? The metaverse,

the glasses, the goggles.

>> Again, I've said this here multiple

times, and I'm going to get some angry

emails, too. it always feels like

they're just a bit behind the ball. So,

>> so I mean two things I want to say quote

from the from the essay. Meta's mission

since our founding has been focused on

putting pe power in people's hands.

>> Sure it has.

>> Yeah. Exactly. Right. But then on the

flip side, I think it kind of makes

sense to doing what to to do what

they're doing right now with this with

the the the open claw moment for them,

right? They're basically saying putting

into your hands, right? But what that

really means is down the line is hey

we're going to have our own deepseat

type thing where you don't need to like

pay the front of your mouth so much

money

>> and that is why they want because the US

government there there is a stunningly

shallow bench of of open-source

uh US or Canadian or European models

that actually work and are good.

>> That's right. And so Meta, whether this

is altruistic or a bit of political

calculus or a bit of economic calculus,

>> this is a great move for them if it

works and if there is adoption because

the government will look at that and

smile and if anything make them a

preferred vendor,

>> right? And I was talking to our Dan

Howie about this and it's like it's not

that they're be running these these

models on the their own systems going be

on Meta's Meta Cloud, right? And Meta's

data centers and they get that money.

Oh,

>> very low licensing fee for the software.

We're going to charge you a lot for the

data.

>> And don't forget, they're also going to

be selling that excess compute back,

making more money there. You see that

Mark Zuckerberg feels like he's where

can I extend this just a little bit

further? Where can I find? And look, if

you've committed to spending $2

trillion, makes sense to broaden out the

customer base.

>> It does. Although it should

it should alarm shareholders I think a

little bit that a company company's

primary obligation is to be a good

steward of capital misassessed their own

demand which they should know better

than anyone

>> for data centers and comput and Mark can

say whatever he wants of this always

being the plan I'm sure he will I'm sure

he has um the fact that you are

overbuilding or overcommitted to a

degree that you need to start building

out a new business line

>> um is is disturbing and a little scary

and it also says something deeper I

think which is that if Meta could they

would get out of it.

>> That's right.

>> I think it's also too little too late

what you were saying. I think that's a

big point.