00:00:00
products really require vertical integration. Ultimately, you have a self-driving something that is
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customuilt for knowing it's going to be self-driving and it interacts differently. The cost structure is
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different. The controls are different. The seating is different. You build a product taking advantage of where in the
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stack you have the most competitive advantage, but then you leverage that and it reinforces it's still why Apple
00:00:21
despite missing the AI wave still a pretty good company from any empirical standpoint. I mean like the performance
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is absolutely miserable on the most important technology running through the last 70 years, but the company's still
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alive and still worth trillions of dollars because it's vertically integrated. Open AI, they do have a good
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product team and they need to stay ahead on the product level because they can't
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compete on the factory level. The way to stay ahead on the product level is shipping a device. They got to ship the
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device. It's got to be good. It's got to be right. It's got to be the right form
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factor. It's got to do things for humans that are unexpected. But then if they do
00:00:53
that, they're like Apple plus AI.