00:00:00
Travis, your thoughts on this category?
00:00:02
Anything come to mind for you in terms
00:00:04
of,
00:00:06
you know, feature sets that would be
00:00:08
extraordinary here? I know you you like
00:00:11
to think about products and the consumer
00:00:12
experience.
00:00:14
It's really interesting. So, you know,
00:00:16
I've been spending, as you guys know,
00:00:18
I've been spending my time on real
00:00:20
estate and construction and robotics.
00:00:23
And so I' I've been out of the this kind
00:00:25
of consumer software game for a long
00:00:27
time. But it's super interesting over
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the last six months. There have been a a
00:00:32
number of consumer software CEOs.
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Like when I hang out with them or
00:00:37
whatever, they're like, yo, how are we
00:00:40
going to how are we going to keep doing
00:00:42
what we do when the agents take over?
00:00:44
Yeah. The paradigm shift is so profound
00:00:48
that the idea that you would visit a web
00:00:50
page goes away and you're just in a chat
00:00:51
dial. you know, you have an agent that's
00:00:53
just taking care of your flights for
00:00:54
you.
00:00:56
So, I I kind of I I think there's a
00:00:58
leaprog over that. I think
00:01:01
it's just like you tell something, yo, I
00:01:03
want to go to New York. Can you you
00:01:05
know, I'm sort of looking at this time
00:01:07
range. Can you just go find something
00:01:09
I'm probably going to like and give me a
00:01:10
couple options?
00:01:12
Yeah. And it's just a whole you have an
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interface and then you know is perplex
00:01:19
is this thing that you just showed on
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perplexely is that the interface or do I
00:01:23
just have an agent that just goes and
00:01:24
does everything for me and is this the
00:01:27
start of that? I you know I just haven't
00:01:29
spent enough time. I I do know that
00:01:32
every consumer
00:01:34
software CEO
00:01:36
that has an app in the app store is
00:01:38
tripping. They're tripping right now.
00:01:41
And I mean big boys. I meet guys with
00:01:43
real stuff and sometimes I I'm doing
00:01:45
like almost like therapy sessions with
00:01:47
them. I'm like, "It's gonna be fine. You
00:01:50
actually you actually have stuff. You
00:01:52
have a mo you have real stuff that's of
00:01:54
value. They can't replace it with an
00:01:56
agent." And they're like,
00:01:57
"So, you're lying to them. You're doing
00:01:58
hospice care and you're telling them
00:02:00
everything's going to be okay, but the
00:02:02
patient
00:02:03
options on Robin Hood while he's like,
00:02:04
"Yeah, yeah, tell me more. Tell me more.
00:02:07
All these things.
00:02:08
There's certain things that are
00:02:09
protected. There's certain not things
00:02:11
that aren't. That's all.
00:02:12
Well, let's talk about that because the
00:02:14
you and I are old enough to remember uh
00:02:16
general magic. This vision was out there
00:02:18
a long time ago with personal digital
00:02:21
assistance and you would just talk to an
00:02:23
agent. It would go do this for you. This
00:02:25
feels like a step to that where it does
00:02:28
all the work for you, presents you the
00:02:30
final moment and says approve.
00:02:33
Like a concierge or a butler. Yeah,
00:02:35
I think what you're describing is what
00:02:37
we want. But I think more specifically
00:02:40
for today, Keith and Travis totally nail
00:02:44
it. Look, I think building a browser is
00:02:47
an absolutely stupid capital allocation
00:02:49
decision. Just totally stupid and
00:02:51
unjustifiable in 2025. Specifically for
00:02:54
Perplexity,
00:02:56
I think their path to building a legacy
00:02:59
business is to replace Bloomberg.
00:03:01
Everything that they've done in
00:03:03
financial information and financial data
00:03:06
in going beyond the model has been
00:03:09
excellent. As somebody who's paid
00:03:10
$25,000 to Bloomberg for many years,
00:03:14
the terminal is atrocious. It's
00:03:17
terrible. It's not very good. It's very
00:03:20
limited.
00:03:22
and anybody that could build a better
00:03:25
product would take over a hundred
00:03:29
billion dollar enterprise because I
00:03:31
think it's there for the taking. I wish
00:03:32
that perplexity would double and triple
00:03:34
down on that. And so when you see this
00:03:36
kind of
00:03:37
random spraw,
00:03:38
let's do it, Jimoth. Let's just go do
00:03:39
it.
00:03:40
When you do the random spraw, I think it
00:03:41
doesn't work. But I just want to say
00:03:43
like
00:03:44
a browser is like the dumbest thing to
00:03:46
build in 2025 because in a world of
00:03:48
agents, what is a browser? It's a
00:03:51
glorified markup reader. It's like
00:03:53
handling HTML. It's handling CSS and
00:03:56
JavaScript. It's doing some networking.
00:03:58
It's doing some security. It's doing
00:04:00
some rendering. But it's like this is
00:04:02
all under the water type stuff. I get it
00:04:06
that we had to deal with all that
00:04:07
nonsense in
00:04:09
1998
00:04:11
to try LIOS or Google for the first
00:04:13
time. But in 2025,
00:04:16
there's something that you just speak to
00:04:20
and eventually there's probably
00:04:21
something that's in your brain which you
00:04:23
just think and it just doesn't you're
00:04:25
thinking
00:04:26
I need a flight to JFK or at the maximum
00:04:29
today in a very elegant beautiful search
00:04:32
bar you type in get me a flight and it
00:04:35
already knows what to do.
00:04:36
Keith in some ways this is a step
00:04:38
towards that ultimate vision. So you'd
00:04:40
think it's worth it to you know sort of
00:04:43
perplexity to make this way point
00:04:45
perhaps if you look at it as a waypoint
00:04:47
between the ultimate vision which is a
00:04:48
command line and earpiece.
00:04:51
How do you get distribution Jason for
00:04:52
the 19th web browser in 2025? Well,
00:04:55
yeah, that is a challenge and I think
00:04:57
most people are speculating Apple, which
00:05:00
has a lot of users, might buy Perplexity
00:05:04
or do a deal with Perplexity and give
00:05:06
them that distribution because of the
00:05:08
Justice Department case against Google.
00:05:11
So, there's been a lot of speculation
00:05:12
about that. But Keith, what do you
00:05:13
think?
00:05:13
Well, I don't think they'd buy anything
00:05:15
worth it. Like, what do what is Apple
00:05:16
going to get? We continue this failed
00:05:18
strategy of Apple,
00:05:19
right? Apple's missed every possible
00:05:22
window on AI and continues to miss it
00:05:24
and it has cultural I think the CEO has
00:05:27
challenges I think culturally they have
00:05:28
challenges I think they have
00:05:29
infrastructure challenges so it's it's
00:05:32
not an easy fix but buying perplexity is
00:05:34
not going to help like chas strategy is
00:05:35
actually pretty coherent one for
00:05:37
perplexity quap perplexity uh so I think
00:05:40
that
00:05:41
pick a vertical and own it strategy in
00:05:43
this case
00:05:43
not not a bad idea um especially because
00:05:45
you need unique data sources some of
00:05:47
those data sources may or may not
00:05:49
license their data to open AAI. So you
00:05:52
can do some clever things there, but um
00:05:54
I don't think there's any residual value
00:05:56
that Apple will get out of perplexity
00:05:58
except there's some product taste, but
00:05:59
what are you going to spend like a
00:06:00
billion dollars for product taste? I
00:06:02
mean Mark's spending hundreds of
00:06:04
millions of dollar hundreds of billions
00:06:05
or whatever he's spending these days and
00:06:07
you know Grock if anything Grock for
00:06:09
shows that Mark really doesn't need to
00:06:11
just spend money to build a whole new
00:06:12
team because everything they've done in
00:06:14
AI is also missed the boat. Well, I
00:06:16
mean, Keith, the way you phrase it there
00:06:17
almost makes it worth it for Apple to
00:06:20
throw a Hail Mary, have a team with some
00:06:22
taste because that's how they tend to do
00:06:24
things is something that is elegant. And
00:06:26
why not just throw your search to it,
00:06:28
throw 10 billion at what's
00:06:32
elegant would be if there's a bunch of
00:06:33
agents and just a chat box.
00:06:35
Seeing a bunch of visual diarrhea is not
00:06:37
elegant.
00:06:38
It's lazy.
00:06:40
Off on our on our little Bloomberg
00:06:42
clone, I'll give you naming rights. So
00:06:44
you can call it that.
00:06:45
Oh, you like you like it.
00:06:46
Polyhapatia. So, hey, can somebody can
00:06:49
somebody uh bring up the polyhapatia?
00:06:52
You know what's so funny?
00:06:54
It just rolls right off your tongue.
00:06:56
TK, listen. We were trying to do a
00:06:58
screen
00:07:00
of companies and it maxes out at five
00:07:03
companies on a specific type of screen
00:07:05
where you're like you're trying to
00:07:07
compare stock price to EB and you're
00:07:08
like, okay, I can only choose five, I
00:07:11
guess. So, which five should I choose?
00:07:12
Lefont was on right like two episodes
00:07:14
ago. He was like I can't pull this up.
00:07:16
It's limited to six companies.
00:07:17
Dude, you it's So what do people use
00:07:20
Bloomberg?
00:07:21
They use it for the messaging. Now like
00:07:23
my team has traded huge positions via
00:07:25
text message on Bloomberg. So there is
00:07:27
something very valuable there.
00:07:29
But the core usability and the core UI
00:07:32
of that company has not evolved.
00:07:33
I have my contribution
00:07:35
and complexity is very good at that by
00:07:37
the way. It they they do a very good
00:07:39
job.
00:07:40
I got a new domain named Travis. Let
00:07:41
this one just sink in here. This is my
00:07:43
way to weasel my way into the deal.
00:07:45
Begin.com.
00:07:46
begin.com.
00:07:47
You own that, don't you?
00:07:49
I do.
00:07:50
I'm just a little I snipe some good ones
00:07:52
once in a while. I got begin.com and I
00:07:53
got annotated.com. Those are my two
00:07:55
little domain. You're like you're like
00:07:57
one of these old people that show up at
00:07:58
those road show and then
00:08:01
road show and you're like, "Oh, I have
00:08:03
this thing that I bought 1845."
00:08:06
Guys, Jason Jason is Jason is the daddy
00:08:09
and god daddy. Okay, that's just what it
00:08:11
is. Your dad your dad.
00:08:12
That's what it is.
